TCR_Public/140922.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Monday, September 22, 2014, Vol. 18, No. 264

                            Headlines

1011778 BC: Fitch Puts 'B' IDR Amid Burger King-Tim Hortons Deal
3010 OCEAN AVENUE: Voluntary Chapter 11 Case Summary
ACG CREDIT: Files Chapter 11 Plan of Reorganization
ACG CREDIT: Wants to Set General Claims Bar Date at Sept. 26
ADAMIS PHARMACEUTICALS: CRT Capital Has 1.7% Stake as of Sept. 17

ADS WATER: Bank Debt Trades at 2% Off
ALLY FINANCIAL: U.S. Treasury Pares Stake to 13.8%
ALPHA HOME: Files List of 20 Largest Unsecured Creditors
ALPHA NATURAL: Bank Debt Trades at 6% Off
AMCAD HOLDINGS: Case Summary & Largest Unsecured Creditors

AMERICAN AIRLINES: Fitch Rates $500MM Unsecured Notes 'B+/RR4'
AMERICAN AIRLINES: Moody's Rates $500MM 5Yr. Unsecured Notes B3
AMERICAN AIRLINES: S&P Affirms 'B' Corp. Credit Rating
ANGOLA HEALTHCARE: Case Summary & 20 Largest Unsecured Creditors
ANIXTER INC: Fitch Rates $400 Million Sr. Unsecured Notes 'BB+'

ANIXTER INC: Moody's Affirms 'Ba2' Corporate Family Rating
ARCH COAL: Bank Debt Trades at 3% Off
ARIZONA LA CHOLLA: Amends Schedules of Assets and Liabilities
ARMORWORKS ENTERPRISES: Seeks Nod to Extend DIP Loans to October
AS SEEN ON TV: Changes Fiscal Year End to December 31

ASR CONSTRUCTORS: Hearing on Plan Outline Continued to Oct. 21
ASR CONSTRUCTORS: Seeks $419,000 Surcharge of FIC's Collateral
ASR CONSTRUCTORS: Court OKs Sale of Phelan Property for $59,000
ASR CONSTRUCTORS: Seeks Authority to Use FIC's Cash Collateral
ASR CONSTRUCTORS: Wants to Sell Unnecessary Machinery & Equipment

ASSOCIATED WHOLESALERS: Has Until Oct. 17 to File Schedules
ASSOCIATED WHOLESALERS: PBGC Files Notice of Appearance
ASSOCIATED WHOLESALERS: Taps Epiq as Administrative Advisor
AT EMERALD: Judge Converts Case to Chapter 7 Proceeding
AURORA DIAGNOSTICS: Moody's Affirms Caa2 Corporate Family Rating

AUXILIUM PHARMACEUTICALS: Gets Purchase Proposal From Endo
BANK OF THE CAROLINAS: Turlington Dismissed as Accountant
BENTLEY PREMIER: Hearing Today on Bid to Reconsider Plan Orders
BROWN MEDICAL: Trustee Hires PenChecks for 401K Plan Distribution
BUCCANEER RESOURCES: Deadline to Confirm Plan Set for October 14

CAESARS ENTERTAINMENT: April 2021 Bank Debt Trades at 3% Off
CAESARS ENTERTAINMENT: September 2020 Bank Debt Trades at 3% Off
CAESARS ENTERTAINMENT: March 2017 Bank Debt Trades at 5% Off
CALIFORNIA COMMUNITY: Sept. 24 Hearing on Cash Collateral Use
CALIFORNIA COMMUNITY: Hearing to Consider Plan Outline on Oct. 29

CARIBBEAN PRODUCE: Voluntary Chapter 11 Case Summary
CLUB AT SHENANDOAH: Seeks Bookkeeping Services From Western Golf
COLOR STAR: Barrier Delays Filing Demand for Arbitration
COMMUNITY HOME: Court Grants MidFirst's Motion to Lift Stay
COMMUNITY HOME: Bank of America Seeks Relief From Stay

CRS HOLDING: Hearing on Cash Collateral Motion Set for Sept. 29
CRS HOLDING: Responds to Secured Creditors' Motion to Dismiss
CRS HOLDING: Says Receiver Has Authority to File Ch. 11 Case
CTI BIOPHARMA: Inks EUR103 Million License Agreement With Servier
D.A.B. GROUP: Orchard Hotel Balks at Employment of Professionals

DETROIT, MI: Bankruptcy Judge to Hear Water Shutoff Dispute
DEWEY & LEBOEUF: Ex-Controller Reaches Partial Deal With SEC
DEWEY & LEBOEUF: Court Lacks Jurisdiction Over Suit by Partner
DEX MEDIA EAST: Bank Debt Trades at 14% Off
DREIER LLP: Ex-McCarthy Atty Cites Privilege In $1.4M Fee Row

DIOCESE OF GALLUP: Has Until May 2015 to File a Chapter 11 Plan
EFUSION SERVICES: Fights John Dorsey et al.'s Dismissal Motion
EFUSION SERVICES: John Dorsey et al. Insist on Dismissal of Case
ENERGY FUTURE: Creditors Committee Supports Exclusivity Extension
ENERGY FUTURE: Responds to CSC's Objection to Exclusivity Motion

ENERGY FUTURE: Has Until 2015 to File Plan, Auction Oncor
ENERGY FUTURE: Opens Bidding on Rights to Oncor Stake
ENGLOBAL CORP: Obtains $10MM Credit Facility From Regions Bank
ENTEGRA POWER: Wins Confirmation of Bankruptcy Plan
EVENT RENTALS: Chapter 11 Plan of Liquidation Declared Effective

EWGS INTERMEDIARY: First Amended Liquidation Plan Now Effective
EXIDE TECHNOLOGIES: Hires Korn Ferry as Executive Search Advisors
FBOP CORPORATION: FDIC Wants 'Unclean Hands' Defense Struck
FCC HOLDINGS: Hires Greenberg Traurig as Counsel
FCC HOLDINGS: Hires FTI Consulting to Provide CRO and Interim CEO

FLIGHT DIRECTOR: Case Summary & 20 Largest Unsecured Creditors
GARLOCK SEALING: Asbestos Claimants Want Records Kept Private
GBG RANCH: Court OKs Hiring of Luttrell + Villareal as Counsel
GBG RANCH: Taps Gutierrez Martinez as Accountant
GENERAL MOTORS: Judge Allows Discovery in Ignition-Switch Case

GENERAL MOTORS: Recalls 221,558 Sedans Over Fire Risk
GENERAL MOTORS: Regulators Faulted in Ignition-Switch Defects
GETTY PETROLEUM: Buyers Sue Akin Gump for Conflict in Lukoil Deal
GILES-JORDAN: Plan Confirmation Hearing Resumes Today
GILES-JORDAN: Taps William Roitsch and CBRE as Valuation Experts

GOLDKING HOLDINGS: Joint Bankr. Exit Plan Declared Effective
GOLDKING HOLDINGS: Enters Into 6th Stipulation on DIP Loans
GREEN MOUNTAIN: Court Okays Hiring of Alston & Bird as Attorneys
GYMBOREE CORP: Bank Debt Trades at 29% Off
HALYARD HEALTH: Moody's Assigns Ba3 Corporate Family Rating

HDGM ADVISORY: Says Chapter 11 Plan Is Coming
HERCULES OFFSHORE: Files Fleet Status Report as of Sept. 17
HOSTESS BRANDS: Freed From Property Tax Claims in Bankruptcy Case
INDIANA TOLL ROAD: Expected to File Prepack Chapter 11 Today
INT'L FOREIGN EXCHANGE: Has Until Nov. 10 to File Chapter 11 Plan

IRONSTONE GROUP: Eugene Yates Appointed Chief Financial Officer
JOSHUA INVESTMENTS: Case Summary & 4 Unsecured Creditors
KANGADIS FOOD: Court Seeks More Time to Decide on KFM Lease
KEEN EQUITIES: Can Hire Sive Paget as Environmental Counsel
LATEX FOAM: Can Use Wells Fargo's Cash Collateral Until Sept. 26

LDR INDUSTRIES: Meeting of Creditors Set for Oct. 15
LEHMAN BROTHERS: Slams JPMorgan's $7-Bil. Precollapse 'Cash Grab'
LEO MOTORS: Files Financial Statements of Acquired Business
LPL HOLDINGS: Moody's Affirms Ba2 CFR & Secured Bank Debt Rating
MARTIFER SOLAR: Parent Objects to Funding Committee Carve Out

MF GLOBAL: Labaton Defectors Make Play for Lead Role in Suit
MOMENTIVE PERFORMANCE: Judge Denied Stay Pending Plan Appeal
MOMENTIVE PERFORMANCE: Bondholders to Appeal Confirmation Order
MSI CORP: Court Approves Disclosure Statement Explaining Plan
MSI CORP: May Access Cash Collateral Through October 31

MSI CORP: Plan Exclusivity Period Extended Through November 15
MUSCLEPHARM CORP: Enters Into $8 Million Credit Facility
NAARTJIE CUSTOM: Has Interim DIP & Cash Collateral Approval
NET ELEMENT: Grants CEO 1.4 Million in Restricted Shares
NII HOLDINGS: Files for Chapter 11 to Restructure Debt

NNN 3500 MAPLE 26: Hearing on Plan Confirmation Set for Oct. 21
NORTEL NETWORKS: Asset Allocation Trial Scheduled for Sept. 22
OWENS & MINOR: Moody's Rates $300MM & $250MM Unsecured Notes Ba1
PACIFIC STEEL: Case Caption Now Reads Second Street Properties
PALM BEACH COMMUNITY: Nov. 3 Hearing on Plan Confirmation

PALM BEACH FINANCE: BMO Harris Sued for $24B Over Petters Fraud
PARADIGM EAST: Court OKs Hiring of Norris McLaughlin as Counsel
PIKE CORP: Moody's Assigns 'B3' Corporate Family Rating
PSL-NORTH AMERICA: Proposes Deadlines for Filing Claims
REVEL AC: U.S. Trustee Objects to Proposed Modified Bid Protocol

ROSETTA GENOMICS: Incurs $7.2 Million Net Loss in H1 2014
ROUNDY'S SUPERMARKET: Bank Debt Trades at 5% Off
RSP PERMIAN: Moody's Assigns B3 Rating on $450MM Unsecured Notes
SCICOM DATA: Court Denies US Trustee's Motion for Case Dismissal
SCRUB ISLAND: Asks Court to Establish FirstBank Collateral Value

SCRUB ISLAND: Court Denies FirstBank's Bid to End Exclusivity
SCRUB ISLAND: Gets Conditional Approval of Disclosure Statement
SCRUB ISLAND: May Use Up to $210,000 From RCB Facility
SCRUB ISLAND: May Obtain Up to $185,000 From Mainsail DIP Loan
SEADRILL LTD: Bank Debt Trades at 3% Off

SEARS METHODIST: Panel Can Hire Grant Thornton as Fin'l Advisor
SEDGWICK INC: T&H Global Deal No Impact on Moody's B3 CFR
SEGA BIOFUELS: Court Approves McCallar's Wilson as Counsel
SFX ENTERTAINMENT: Moody's Rates 2nd Lien Secured Notes 'Caa1'
SHELBOURNE NORTH: Looking for Replacement Plan Lender

SIMMONS FOODS: Moody's Assigns 'Caa1' Rating to New $450MM Notes
SONIFI SOLUTIONS: Lenders Sue Over New Restructuring Deal
SOURCE HOME: Cancels Ch. 11 Auction, Sells for $24-Mil.
SUN BANCORP: Hires Patricia Schaubeck as EVP & General Counsel
T-L BRYWOOD: Has Interim Okay to Use Cash Until September 30

TAMPA WAREHOUSE: May Use Cash Collateral Until September 24
TAMPA WAREHOUSE: Plan Confirmation Hearing Set for Wednesday
TOYS R US: Bank Debt Trades at 5% Off
TPF GENERATION: Bank Debt Trades at 3% Off
TRUMP ENTERTAINMENT: Taps Prime Clerk as Administrative Advisor

TRUMP ENTERTAINMENT: Has Interim Stock Notice Procedures Order
TRUMP ENTERTAINMENT: Has Interim OK to Pay Critical Vendors
TRUMP ENTERTAINMENT: Plagued by Past Ch. 11 Mistakes, Experts Say
TRUMP ENTERTAINMENT: Donald Trump Says He May Buy Back Casinos
US STEEL CANADA: Files CCAA Case; Ernst & Young Mames as Monitor

US STEEL CANADA: Oct. 6 Hearing to Approve C$186MM DIP Loan
US STEEL CANADA: May Continue to Contribute Under Pension Plans
US STEEL CORP: Fitch Affirms 'BB-' Issuer Default Rating
VARIANT HOLDINGS: Can't Get Creditor's Trustee Motion Pushed Back
VERITEQ CORP: Amends Q2 Form 10-Q to Correct Net Loss Per Share

WALKER LAND: Sept. 24 Hearing on Approval of Plan Disclosure
WALTER ENERGY: Bank Debt Trades at 10% Off
WATERFORD GAMING: Moody's Lowers Corporate Family Rating to Ca
WESTERN ENERGY: Moody's Raises Corporate Family Rating to B1
WHITEWAVE FOODS: So Delicious Dairy Deal No Impact on Moody's CFR

YRC WORLDWIDE: Amends Debt Leverage Ratio Covenant
YSC INC: Taps Special Counsel Over Ramada Inn Signage Dispute

* Lavish Spending Doesn't Equal Tax Evasion, 9th Circ. Says
* Subjective Test Required in Dischargeability Suit

* CalPERS to End Hedge Fund Investments

* For Banks, Shift in U.S. Rules to Cut Balance-Sheet Risk

* Stephen Rutenberg Joins Kaye Scholer's Bankruptcy Department

* BOND PRICING: For The Week From September 15 to 19, 2014


                             *********


1011778 BC: Fitch Puts 'B' IDR Amid Burger King-Tim Hortons Deal
----------------------------------------------------------------
Fitch Ratings has assigned issuer and expected issue level ratings
related to Burger King Worldwide, Inc.'s (Burger King; NYSE: BKW)
proposed acquisition of Tim Hortons, Inc. (Tim Hortons; NYSE:
THI).  The debt is being issued by 1011778 B.C. Unlimited
Liability Company (NewCo) -- a new legal entity created to effect
the transaction. Ratings, which are based on Fitch's expectations
regarding final terms and conditions, are as follows:

NewCo (Canadian borrower and U.S. co-borrower)

-- Long-term Issuer Default Rating (IDR) 'B'/Outlook Stable;
-- Senior secured revolver 'BB/RR1';
-- Senior secured term loan B 'BB/RR1';
-- Senior secured 2nd lien notes 'B/RR4'.

Fitch maintains the Rating Watch Negative on Burger King and its
subsidiaries. The ratings were placed on Negative Watch on Aug.
27, 2014 following the firm's definitive agreement to acquire Tim
Hortons. Resolution of the Negative Watch will occur upon
transaction closing or more certainty regarding the amount and
timing of repayment of Burger King's existing debt. A list of
Burger King's current ratings is at the end of this release.

Key Rating Drivers

High Pro forma Debt, Gross Leverage
Pro forma debt is expected to include the proposed $6.725 billion
seven-year senior secured term loan B, $2.25 billion of 7.5-year
2nd lien senior secured notes, and roughly $200 million of capital
leases. Approximately $4 billion of existing debt at Burger King
and Tim Hortons is expected to be repaid, although the timing and
ultimate amounts remain uncertain. Pro forma total adjusted debt-
to-EBITDAR exceeds 7.0x, excluding synergies. Fitch has also
classified $3 billion of 9% preferred stock contributed by
Berkshire Hathaway as 50% debt/50% equity due to debt-like
characteristics.

Collateral for the guaranteed senior secured facility, which
includes a $500 million five-year revolver and the above mentioned
term loan, includes a first-priority lien on substantially all
property of the borrower and guarantors. Financial covenants are
limited to a springing maintenance covenant of 6.5x net first lien
leverage if the revolver is 30% drawn. The term loan amortizes at
1% of principal annually. The guaranteed 2nd lien notes are
secured by a second-priority interest in the collateral securing
the credit facilities. The notes contain make-whole, equity
clawback and change of control provisions.

Ratings reflect Fitch's views regarding the deleveraging and the
free cash flow (FCF) generating ability of the new combined
company, the stability of its operating cash flow, and on-going
liquidity. Fitch believes total adjusted debt-to-EBITDAR can
approach 6.0x within two years of transaction closing and that
annual FCF (defined as cash flow from operations less capital
expenditures and dividends) will exceed $300 million excluding any
one-time costs.

Deleveraging should be enabled by EBITDA growth, given net
restaurant expansion and positive same-store sales, and modest
debt reduction. Ratings consider potential synergies, the ability
of the Tim Hortons brand to succeed outside of its core Canadian
market, and the currency mismatch related to the firm's U.S.
denominated obligations and non-U.S. cash flows.

Liquidity will be supported by the company's $500 million revolver
and a meaningful cash balance which is expected to exceed $300
million on a pro forma June 30, 2014 basis. Fitch expects future
cash balances to depend on FCF generation and the firm's financial
strategy related to cash flow usage. Moreover, partnership
exchangeable units issued as part of the transaction's structure
may be exchanged, at the discretion of the parent holding company,
for cash or common shares of the new publicly traded Holding
company after the one-year anniversary of the merger. This
potential cash outflow could be a drain on liquidity or lead to
higher debt levels.

Recovery Analysis
The expected 'BB/RR1' rating on the proposed senior secured credit
facility reflects Fitch's view that recovery would be outstanding
at 91%-100% even in a distressed situation. The 'B/RR4' rating on
the 2nd lien notes corresponds to average potential recovery in
the 31%-50% range. Ratings incorporate Fitch's opinion regarding
the new company's enterprise value as a going concern and the mix
of 1st lien and 2nd lien debt in the new company's capital
structure.

Ratings on Burger King's existing debt are expected to be
withdrawn. However, should any of the firm's senior unsecured $795
million 9.87% 2018 notes or $478 million 11% 2019 discount notes
remain outstanding respective ratings will be downgraded multiple
notches due to significant subordination and the probability of 0%
recovery in a distressed situation. Fitch would assign new ratings
to any of Tim Hortons' privately placed notes that remain
outstanding. Tim Hortons' debt includes three series of privately
placed senior unsecured notes with change of control provisions
that require the borrower to make an offer to repurchase the
notes.

Strategically Sound Combination
Fitch views the combination of Burger King and Tim Hortons as
strategically sound. The combined entity will benefit from
increased scale, the diversification provided by two nearly 100%
franchised quick-service restaurant brands, and multiple levers
for future growth. However, the new company will have considerable
financial leverage and, as mentioned previously, successful
meaningful expansion of the Tim Hortons' brand outside of Canada
is uncertain given the highly competitive global restaurant
industry.

Rating Sensitivities

Future developments that may, individually or collectively, lead
to an upgrade of the new company's IDR include:

-- An upgrade is not likely in the near term. However, an upgrade
   would be considered if total adjusted debt-to-EBITDAR is
   sustained below 6.0x, annual FCF consistently exceeds $300
   million, and SSS remain positive.

Future developments that may, individually or collectively, lead
to a downgrade in the new company's IDR include:

-- A downgrade below 'B' is not anticipated given the stability of
   cash flows and adequate expected liquidity. However, slower
   than expected deleveraging, negative SSS, or declining FCF
   would result in a deterioration of credit quality and would be
   reflected in the ratings.

The following ratings of Burger King and its subsidiaries are
maintained on Rating Watch Negative:

Burger King Worldwide, Inc. (Parent Holding Co.)

-- Long-term IDR 'B+'.

Burger King Capital Holdings, LLC (BKCH/Parent of Burger King
Holdings, Inc.) and Burger King Capital Finance, Inc.
(BKCF/Financing Subsidiary) as Co-Issuers

-- Long-term IDR 'B+';
-- 11% senior discount notes due 2019 'B-/RR6'.

Burger King Holdings, Inc. (Direct Parent of Burger King
Corporation)

-- Long-term IDR 'B+'.

Burger King Corporation (Operating Company)

-- Long-term IDR 'B+';
-- Secured revolver due 2015 'BB+/RR1';
-- Secured term loan A due 2017 'BB+/RR1';
-- Secured term loan B due 2019 'BB+/RR1';
-- 9.875% senior unsecured notes due 2018 'BB-/RR3'.


3010 OCEAN AVENUE: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: 3010 Ocean Avenue Brigantine LLC
        620 E Rector Street
        Philadelphia, PA 19128

Case No.: 14-17520

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: September 18, 2014

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Hon. Jean K. FitzSimon

Debtor's Counsel: Thomas Daniel Bielli, Esq.
                  O'KELLY ERNST & BIELLI, LLC
                  1500 Walnut Street, Suite 900
                  Philadelphia, PA 19102
                  Tel: 215-543-7182
                  Fax: 215-525-9648
                  Email: tbielli@oeblegal.com
                         dklauder@oeblegal.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by William D. Bucci, managing member.

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


ACG CREDIT: Files Chapter 11 Plan of Reorganization
---------------------------------------------------
ACG Credit Company II, LLC, filed with the U.S. Bankruptcy Court
for the District of Delaware its plan of reorganization dated
August 26, 2014.

The Plan provides that on the Effective Date, all of the Debtor's
assets will be put into an administrative trust.  The
Administrative Trust will receive:

   (a) any assets of the Debtor not otherwise required to be paid
       to a holder of a secured claim;

   (b) all interests of ACG Finance Company, LLC and Fine Art
       Finance, LLC in the loans securing the obligations of the
       Debtor to SageCrest II, LLC, collateral securing those
       loans, and all rights against SageCrest II, LLC; and

   (c) Cash, which will be sufficient Cash to pay all Allowed
       Claims, including Administrative Claims, costs associated
       with the Administrative Trust, and United States Trustee
       fees, in full.

                       Treatment of Claims

The Administrative Trust will pay the Allowed Administrative
Expense Claim Cash in an amount equal to the Claim on the
Effective Date.

All outstanding fees payable to the Office of the United States
Trustee will be paid no later than 30 days after the Effective
Date or when those fees come due in the ordinary course.
Professional Fee Claims that are allowed by a Final Court Order
will be paid pursuant to the Plan.

The Claims and Equity Interests against the Debtor are classified
as: Class 1: Priority Tax Claims, Class 2: Secured Claims, Class
3: General Unsecured Claims and Class 4: Interests.

Each Holder of an Allowed Priority Tax Claim will receive, at the
option of the Administrative Trustee, in full satisfaction of the
Priority Tax Claim the amount of the unpaid Allowed Priority Tax
Claim in Cash on or as soon as reasonably practicable after the
later of (i) the Effective Date, and (ii) the date on which the
Priority Tax Claim becomes Allowed.  Prior to the Effective Date,
the Debtor will have the right to prepay at any time any Allowed
Priority Tax Claim without premium or penalty.

Each Holder of an Allowed Class 2 Secured Claim will receive, in
the discretion of the Administrative Trustee, in full satisfaction
of the Claim: (a) Cash equal to the Allowed Secured Claim; (b)
Reinstatement of the Allowed Secured Claim; (c) the Property
securing the Secured Claim; or (d) other treatment on other terms
and conditions as may be agreed upon by the parties.

The holders of Class 3 Claims will be Trust Beneficiaries under
the Administrative Trust Agreement.  Unless a Holder of an Allowed
Claim in Class 3 has been paid by the Debtor prior to the
Effective Date or agrees to a less favorable treatment, each
Holder of an Allowed Claim in Class 3 will receive an amount, in
Cash, equal to the Allowed amount of those Claims in accordance
with the Administrative Trust Agreement and the Trust Beneficiary
Register.

Class 4 consists of all Interests in the Debtor.  Holders of Class
4 Interests will retain those Interests in the Debtor.

All Cash necessary for the funding of the Administrative Trust in
a sufficient amount to pay all Allowed Claims will be available
through a Letter of Credit under the terms provided for in the
Letter of Credit Agreement to the extent the cash is necessary to
pay all creditors in full the Amount of their Allowed Claim, and
pay all Administrative Claims, Administrative Trust costs and fees
of the United States Trustee in full.

On the Effective Date, the authority, power and incumbency of the
persons then acting as directors and officers of the Debtor will
remain in place.

A copy of the Plan is available for free at:

      http://bankrupt.com/misc/ACGCredit_Plan_08262014.pdf

                   About ACG Credit Company II

New York-based ACG Credit Company II, LLC, filed a Chapter 11
bankruptcy petition (Bankr. D. Del. Case No. 14-11500) on
June 17, 2014.  The Debtor estimated $10 million to $50 million in
assets and $1 million to $10 million in liabilities.  Ian Peck
signed the petition as director.  Gellert Scali Busenkell & Brown,
LLC, serves as the Debtor's counsel.

ACG Credit filed its Plan of Reorganization on August 26, 2014.


ACG CREDIT: Wants to Set General Claims Bar Date at Sept. 26
------------------------------------------------------------
ACG Credit Company II, LLC, has sought to establish Sept. 26,
2014, at 5:00 p.m., Prevailing Eastern Time, as the last date and
time by which any person or entity, excluding governmental units,
holding a claim or interest against the Debtor that arose or is
deemed to have arisen prior to the Petition Date must file a proof
of claim or interest.

Because the General Bar Date is earlier than 180 days after the
Petition Date, the Debtor proposes that Dec. 14, 2014, at 5:00
p.m., Prevailing Eastern Time, be established as the deadline for
all governmental units holding prepetition claims against the
Debtor to file proofs of claim.

Pursuant to the proposed Bar Date Order, these persons or entities
are not required to file a proof of claim or interest on or before
the applicable Bar Date:

   (a) any person or entity that has already properly filed a
       proof of claim with the Clerk of the Bankruptcy Court;

   (b) any person or entity whose claim or interest is listed on
       the Debtor's schedules of assets and liabilities, provided
       that:

       * the claim or interest is not scheduled as "disputed,"
         "contingent" or "unliquidated;"

       * the person or entity agrees with the amount, nature and
         priority of the claim or interest as set forth in the
         Schedules; and

       * the person or entity agrees that the claim or interest
         is an obligation of the Debtor against which the claim
         or in which the interest is listed on the Schedules;

   (c) any person or entity that holds a claim that has been
       allowed by a Court order entered on or before the
       applicable Bar Date;

   (d) any person or entity whose claim has been paid in full by
       the Debtor;

   (e) any person or entity that holds a claim or interest for
       which specific deadlines have been fixed by an order of
       the Court entered on or before the applicable Bar Date;

   (f) any person or entity that holds a claim allowable under
       Sections 503(b) and 507(a) of the Bankruptcy Code as an
       expense of administration (other than any unpaid
       administrative expense claim allowable under Section
       503(b)(9);

   (g) the Debtor; and

   (h) any entity holding an interest in the Debtor, which
       interest is based exclusively upon the ownership of common
       or preferred stock in a corporation or warrants or rights
       to purchase, sell or subscribe to that security or
       interest, provided that Interest Holders, who wish to
       assert claims against the Debtor that arise out of or
       relate to the ownership or purchase of an Interest, must
       file proofs of claim on or before the General Bar Date,
       unless another exception contained in the proposed order
       applies.

The proposed Bar Date Order also provides that any person or
entity that holds a claim that arises from the rejection of an
executory contract or unexpired lease must file a proof of claim
based on that rejection by the later of (a) the applicable Bar
Date, and (b) 30 days after notice by the Debtor of the entry of
an order authorizing rejection to which the claim relates.

The Debtor proposes that any holder of a claim against or interest
in the Debtor, who is required, but fails, to timely and properly
file a proof of that claim or interest will be forever barred,
estopped and enjoined from asserting the claim against or interest
in the Debtor.

                   About ACG Credit Company II

New York-based ACG Credit Company II, LLC, filed a Chapter 11
bankruptcy petition (Bankr. D. Del. Case No. 14-11500) on
June 17, 2014.  The Debtor estimated $10 million to $50 million in
assets and $1 million to $10 million in liabilities.  Ian Peck
signed the petition as director.  Gellert Scali Busenkell & Brown,
LLC, serves as the Debtor's counsel.

ACG Credit filed its Plan of Reorganization on August 26, 2014.


ADAMIS PHARMACEUTICALS: CRT Capital Has 1.7% Stake as of Sept. 17
-----------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, CRT Capital Group disclosed that as of
Sept. 17, 2014, it did not own any shares of Common Stock of
Adamis Pharmaceuticals Corporation.  However, CRT Capital Group
may be deemed to have "beneficial ownership" as set forth in Rule
13d-3 under the Securities Exchange Act of 1934, as amended, of
181,575 shares of Common Stock subject to warrants that CRT
Capital Group has a right to acquire within 60 days of Sept. 17,
2014.

CRT Capital Group's beneficial ownership of 1.7% was based upon
10,501,519 shares of Common Stock of the Issuer outstanding as of
Aug. 5, 2014, as disclosed in the Company's quarterly report on
Form 10-Q for the quarter ended June 30, 2014, and filed with the
SEC on Aug. 13, 2014, plus the shares of Common Stock subject to
the Warrants.

A copy of the regulatory filing is available for free at:

                        http://is.gd/vUbC4g

                            About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC
QB: ADMP) is a biopharmaceutical company engaged in the
development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory
disease, allergy, oncology and immunology.

Adamis reported a net loss of $8.15 million for the year ended
March 31, 2014, as compared with a net loss of $7.19 million for
the year ended March 31, 2013.

Mayer Hoffman McCann P.C., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended March 31, 2014.  The independent auditors noted
that the Company has incurred recurring losses from operations and
has limited working capital to pursue its business alternatives.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.

As of June 30, 2014, the Company had $11.56 million in total
assets, $1.90 million in total liabilities and $9.65 million in
total stockholders' equity.

                         Bankruptcy warning

"Our management intends to attempt to secure additional required
funding through equity or debt financings, sales or out-licensing
of intellectual property assets, seeking partnerships with other
pharmaceutical companies or third parties to co-develop and fund
research and development efforts, or similar transactions.
However, there can be no assurance that we will be able to obtain
any required additional funding.  If we are unsuccessful in
securing funding from any of these sources, we will defer, reduce
or eliminate certain planned expenditures and delay development or
commercialization of some or all of our products.  If we do not
have sufficient funds to continue operations, we could be required
to seek bankruptcy protection or other alternatives that could
result in our stockholders losing some or all of their investment
in us," the Company said in its quarterly report for the period
ended June 30, 2014.


ADS WATER: Bank Debt Trades at 2% Off
-------------------------------------
Participations in a syndicated loan under which ADS Waste Holdings
is a borrower traded in the secondary market at 97.70 cents-on-
the-dollar during the week ended Friday, September 19, 2014,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 0.49 percentage points from the previous week, The Journal
relates.  ADS Waste pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 7, 2019, and
carries Moody's B2 rating and Standard & Poor's B+ rating.  The
loan is one of the biggest gainers and losers among 205 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.


ALLY FINANCIAL: U.S. Treasury Pares Stake to 13.8%
--------------------------------------------------
Saabira Chaudhuri, writing for The Wall Street Journal, reported
that Ally Financial Inc. came one step closer to exiting the U.S.
government's crisis-era bailout plan after the Treasury Department
said it had further pared its stake in the auto lender.  According
to the report, Treasury, which has kicked off the second stage of
its plan to publicly sell shares of Ally, now holds 66.2 million
shares of the company's common stock.  That translates into a
stake of roughly 13.8%, down from the 16% Treasury held in August,
the Journal said.

                        About Ally Financial

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

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

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

                           *     *     *

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

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

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


ALPHA HOME: Files List of 20 Largest Unsecured Creditors
--------------------------------------------------------
Alpha Home Association of Greater Indianapolis (Indiana) Inc.,
filed with the Bankruptcy Court a list of its largest unsecured
creditors disclosing:

   Name of Creditor                            Amount of Claim
   ----------------                            ---------------
All Med                                            $107,550

Allscripts                                           $3,491

American United Life                                   $979

ARS Rescue Rooter                                      $635

Blue                                                $68,605

HTS Therapy                                          $4,220

JPMorgan Chase Bank                                $194,477

Living Design Inc.                                   $1,486

Med Pass Inc.                                          $735

Olympic                                              $4,319

Pitney Bowes Purchase Power                            $986

Point Click Care Wescom                              $1,800

Premium Assignment                                   $2,600

Rays Trash                                           $2,930

Ricoh Usa, Inc.                                      $1,302

Seneca Medical                                      $20,935

SMS Specialized Medical Services                    $37,597

Super laundry Equipment Corp.                        $7,000

Sysco                                               $95,249

The Uniform House                                    $2,919

                         About Alpha Home

Alpha Home Association of Greater Indianapolis (Indiana) Inc.
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No.
14-07997) in Indianapolis on Aug. 26, 2014.  The Debtor estimated
assets and debts between $500 million and $1 billion.

The case is assigned to Judge James K. Coachys. Brian D.
Salwowski, Esq., in Indianapolis, serves as counsel.


ALPHA NATURAL: Bank Debt Trades at 6% Off
-----------------------------------------
Participations in a syndicated loan under which Alpha Natural
Resources is a borrower traded in the secondary market at 93.90
cents-on-the-dollar during the week ended Friday, September 19,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
a decrease of 0.69 percentage points from the previous week, The
Journal relates.  Alpha Natural Resources pays 275 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on May 31, 2020, and carries Moody's B1 rating and Standard &
Poor's BB- rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


AMCAD HOLDINGS: Case Summary & Largest Unsecured Creditors
----------------------------------------------------------
Debtor affiliates filing separate Chapter bankruptcy petitions:

     Debtor                                        Case No.
     ------                                        --------
     AmCad Holdings, LLC                           14-12168
     13650 Dulles Technology Drive, Suite 400
     Herndon, VA 20171

     American Cadastre, L.L.C.                     14-12169
        dba AMCAD LLC
        dba Amcad Digital Conversion, LLC
     13650 Dulles Technology Drive, Suite 400
     Herndon, VA 20171

Chapter 11 Petition Date: September 19, 2014

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtors' Counsel: Nicholas J. Brannick, Esq.
                  COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
                  500 Delaware Avenue, Suite 1410
                  Wilmington, DE 19801
                  Tel: 302-651-2006
                  Fax: 302-574-2106
                  Email: nbrannick@coleschotz.com

Debtors'          SOLIC Capital Advisors, LLC
Financial
Advisor and
Investment
Banker:

Debtors'           KALLANDER GROUP, INC.
Restructuring
Advisors:

Debtors'           THE GARDEN CITY GROUP
Claims/Noticing
Agent:

                                 Estimated    Estimated
                                  Assets     Liabilities
                                ----------   -----------
AmCad Holdings, LLC             $0-$50,000   $1MM-$10MM
American Cadastre               $1MM-$10MM   $10MM-$50MM

The petition was signed by Ian L. Blasco, manager.

A list of AmCad Holdings, LLC's two largest unsecured creditors is
available for free at http://bankrupt.com/misc/deb14-12168.pdf

A list of American Cadastre's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/deb14-12169.pdf


AMERICAN AIRLINES: Fitch Rates $500MM Unsecured Notes 'B+/RR4'
--------------------------------------------------------------
Fitch Ratings has assigned a rating of 'B+/RR4' to the $500
million unsecured notes to be issued by American Airlines Group
Inc. The Issuer Default Ratings (IDR) for American Airlines Group
Inc., American Airlines, Inc., US Airways Group, Inc., and US
Airways, Inc. remain unchanged at 'B+' with a Stable Outlook.

The proceeds of American Airlines Group Inc.'s $500 million in
senior unsecured notes will be used for general corporate
purposes. The notes will feature a five-year tenor and will be
fully and unconditionally guaranteed by American Airlines, Inc.,
US Airways Group, Inc. and US Airways, Inc. The notes will be rank
pari passu with all current and future senior unsecured
indebtedness of the issuer and all guarantors.

Key Rating Drivers

The 'B+/RR4' rating is driven by Fitch's recovery analysis, which
reflects recovery expectations under a scenario in which
distressed enterprise value is allocated to the various debt
classes. Fitch's recovery analysis incorporates a 'going concern'
scenario, reflecting the likelihood that the company would
restructure rather than liquidate in a potential future
bankruptcy. Fitch notes that although our recovery model indicates
the potential for above average recovery prospects for American's
unsecured debt, recover percentages are highly sensitive to model
inputs due to the heavy weighting of the capital structure towards
secured debt. Fitch notes that unsecured recoveries have varied
widely in previous airline bankruptcies as pension, rejected
lease, and labor claims can dilute amounts available to unsecured
creditors. An 'RR4' rating reflects the expectation that unsecured
noteholders would likely experience average recovery.

Fitch currently rates American Airlines Group Inc. at 'B+' with a
Stable Outlook. The most recent full ratings review was completed
in December 2013 coinciding with American's exit from bankruptcy
and the completion of its merger with US Airways. The company's
financial and operating performance since that time has been
strong. The company posted record results in both the first and
second quarters of 2014. Revenues for the first half of the year
were up by 8% compared to the pro forma combined results generated
by American/US Airways in the first quarter of 2013. Meanwhile
operating CASM excluding fuel and special items was up by only
3.1%. CASM pressure is coming from higher labor expenses,
increased depreciation from owned aircraft, and maintenance costs.
The ratings are also supported by the company's sizeable liquidity
balance. As of 6/30/2014 the company had nearly $9.5 billion in
cash on hand (though $791 million was held in Venezuelan
Bolivars), and full availability under its $1.0 billion revolver.

The success that American has achieved since its exit from
bankruptcy is tempered by several risks. While AAL and US Airways
have made significant progress to date (combined frequent flier
programs, progress in negotiating labor contracts, etc.) much of
the integration process is still ahead. For instance, the
companies have yet to merge their reservations systems (which can
often be troublesome) or achieve a single operating certificate.
Capital requirements may also be an issue as the company goes
through its re-fleeting process. American plans to spend around
$5.5 billion in capex each year for the next several years, which
is likely to keep free cash flow minimal or negative at least for
the next one to two years. Fitch is also cautious regarding the
company's recently initiated dividend and share repurchase
programs, which present additional drains on cash.

Fitch does not expect a ratings action in the near term. Longer-
term, Fitch expects American's credit profile to improve if it is
able to achieve the merger synergies that it expects and if the
U.S. aviation market remains favorable as it has for the past
several years.

Rating Sensitivities:

The ratings on the unsecured notes are tied to American's IDR. An
upgrade or downgrade of the notes could follow a rating action on
the underlying IDR. A ratings change could also follow a material
change in the recovery prospects for the notes through either a
rising enterprise value or a material change in American's capital
structure.

Fitch could consider a positive rating action on American's IDR if
merger-related synergies perform to management's expectations, and
if adjusted leverage declines from current levels. Fitch would
also look for sustained unit revenue growth on par with or in
excess of peers. Successful control over cost inflation
particularly related to labor will also be key factors in a
potential future upgrade.

A negative rating action on American's IDR is not anticipated at
this time. However, Fitch could consider revising the ratings
downward if the company were to experience significant/sustained
integration-related difficulties. The ratings could be pressured
by an unexpected drop in the demand for air travel or a fuel price
shock that materially impacts operating results.

Fitch has assigned the following ratings:

American Airlines Group, Inc.
--Senior unsecured notes 'B+/RR4'.

Fitch currently rates American Airlines as follows:

American Airlines Group Inc.
--IDR 'B+'.

American Airlines, Inc.
--IDR 'B+';
--Senior secured credit facility 'BB+/RR1';

US Airways Group, Inc.
--IDR 'B+';
--Senior Unsecured Notes 'B+/RR4'.

US Airways, Inc.
--IDR 'B+';
--Senior secured credit facility 'BB+/RR1'.


AMERICAN AIRLINES: Moody's Rates $500MM 5Yr. Unsecured Notes B3
---------------------------------------------------------------
Moody's Investors Service assigned a B3 (LGD5) rating to the $500
million of new five year unsecured notes that American Airlines
Group Inc. ("AAG") offered for sale earlier. Its subsidiaries,
American Airlines, Inc. ("AA"), US Airways Group, Inc. and US
Airways, Inc. will guarantee AAG's payment obligations under the
indenture on a joint and several basis. Moody's Corporate Family
rating of AAG is B1 with a stable outlook.

Ratings Rationale

AAG will use the proceeds of the new notes for general corporate
purposes. The B3 rating on the new notes is level with the B3
rating of the $500 million of 6.125% senior unsecured notes of US
Airways Group, Inc. due 2018 which AAG, AA and US Airways, Inc.
cross-guarantee.

The B1 Corporate Family rating considers AAG's very good
liquidity, increasingly competitive market position and credit
metrics that are supportive of the single B rating category. The
ratings anticipate that AAG will sustain very good liquidity
notwithstanding expected negative free cash flow generation
through at least 2015 because of estimated capital expenditures in
excess of $9.0 billion in the 18 months ending December 31, 2015.
The B1 rating also balances the company's improving profitability
against expected higher debt balances as it funds deliveries from
the largest order book of any US airline with debt and returns
value to shareholders pursuant to the capital deployment plan
announced on July 24, 2014. However, the gains in fuel and
maintenance efficiency by the multi-year replacement of up to half
of the combined mainline fleet will be important for helping to
mitigate pressure on financial leverage beyond 2015.

The stable outlook reflects Moody's anticipation of about steady
industry fundamentals over at least the next 18 months and further
improvements in the company's operating profits into 2016. There
is little upwards ratings pressure while the company plans and
executes the integration of the two airline operating companies. A
positive rating action could follow if AAG was to sustain stronger
credit metrics following the substantial completion of the
integration. Debt to EBITDA that approaches 4.0 times, Funds from
operations + interest to interest that approaches 4.0 times,
meaningful amounts of annual positive free cash flow and or an
EBITDA margin that is sustained near 20% could support an upgrade.
Growing passenger revenue yields and or revenue passenger miles
("RPMs") at meaningfully higher rates than Delta or United would
indicate the realization of the planned revenue synergies,
including from increasing share of corporate travel, which could
also support a positive rating action. A negative rating action
could follow if liquidity fell below $4.5 billion with no
significant improvement in Debt to EBITDA. The inability to
control non-fuel operating costs or to sustain competitive yields,
either of which would pressure profitability over the long-term
could also lead to a downgrade. Debt to EBITDA that approaches 6.5
times, FFO + Interest to Interest that approaches 2.3 times or
sustained negative free cash flow generation could pressure the
ratings.

The principal methodology used in this rating was Global Passenger
Airlines published in May 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.

American Airlines Group Inc. is the holding company for American
Airlines, Inc. and US Airways, Inc. Together with wholly owned and
third-party regional carriers operating as American Eagle and US
Airways Express, the airlines operate an average of nearly 6,700
flights per day to 339 destinations in 54 countries from its hubs
in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New
York, Philadelphia, Phoenix and Washington, D.C. The company had
pro forma revenue of about $40.4 billion in 2013.


AMERICAN AIRLINES: S&P Affirms 'B' Corp. Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'A (sf)' issue
rating to American Airlines Inc.'s series 2014-1 class A pass-
through certificates, which have an expected maturity of Oct. 1,
2026.  At the same time, S&P assigned its 'BBB- (sf)' issue rating
to the company's series 2014-1 class B pass-through certificates,
which have an expected maturity of Oct. 1, 2022.  The final legal
maturity dates will be 18 months after the expected maturity
dates. American Airlines is issuing the certificates under a Rule
415 shelf registration.

"We base the ratings on the credit quality of American Airlines'
parent, American Airlines Group Inc. (AAG), the substantial
collateral coverage by good-quality aircraft, and the legal and
structural protections available to the pass-through certificates.
American Airlines will use proceeds from the offerings to
refinance five Boeing B777-300ER (extended range) aircraft, five
Airbus A319-100 aircraft, and seven Airbus A321-200 aircraft that
were delivered in 2012-2014.  The secured notes relating to each
aircraft are cross-collateralized and cross-defaulted--a provision
we believe increases the likelihood that American Airlines would
cure any defaults and agree to perform its future obligations,
including its payment obligations, under the indentures in a
bankruptcy scenario," S&P said.

The pass-through certificates are a form of enhanced equipment
trust certificates (EETCs) and benefit from the legal protections
afforded under Section 1110 of the U.S. bankruptcy code and the
liquidity facilities that Credit Agricole Corporate And Investment
Bank (New York Branch) provides.  The liquidity facilities would
cover up to three semiannual interest payments, a period during
which the certificate holders could repossess and remarket the
collateral if American Airlines does not enter into an agreement
under Section 1110, or they could be used to maintain continuity
of interest payments on the certificates as the certificate
holders negotiate with American on revised terms.

The ratings apply to a unit consisting of certificates
representing the trust property and escrow receipts representing
interests in deposits that are the proceeds of the offerings.  The
proceeds will be deposited with Credit Agricole, acting through
its New York branch, pending refinancing of the aircraft.  The
amounts deposited under the escrow agreements are not American
Airlines' property, and they are not entitled to protection under
Section 1110 of the bankruptcy code.  S&P believes that its
corporate credit rating on Credit Agricole is sufficiently high so
that, based on its counterparty criteria, this does not represent
a constraint on S&P's ratings on the certificates.  However, if
S&P upgrades American Airlines, it would not raise its rating on
the class A certificates because the rating would then be higher
than S&P's corporate credit rating on Credit Agricole.  Neither
the certificates nor the escrow receipts may be assigned or
transferred separately.

S&P believes that American Airlines views these aircraft as
important and would, given the cross-collateralization and cross-
default provisions, likely cure any defaults and agree to perform
its future obligations, including its payment obligations under
the indenture, in any future bankruptcy.  In contrast to most
EETCs that airlines issued before 2009, the cross-default would
take effect immediately in a bankruptcy if American Airlines
rejected any of the aircraft notes.  This should prevent the
company from selectively affirming some aircraft notes and
rejecting others ("cherry picking"), which often harms the
certificate holders' interests in a bankruptcy.

The largest proportion of value in the collateral pool is
represented by the B777-300ER (58% by value).  Boeing introduced
this model into service in 2004, expanding and increasing the
range of the successful predecessor B777-200ER.  The two-engine
B777-300ER, in S&P's view, is currently the best large widebody
plane available, and its capabilities make it a good replacement
for the four-engine (and thus less fuel-efficient) B747-400.  The
plane has been commercially successful, with more than 700 planes
delivered or on order.  However, S&P believes that Airbus' planned
A350-1000 model will present more serious competition for the
B777-300ER.

With that threat in mind, Boeing has launched a program to develop
a new B777X successor model, which would incorporate some of the
new technology the company used in its B787 smaller widebody
models.  The B777X will not likely enter service until the end of
this decade at the earliest, and, in order the keep the B777
production line utilized, Boeing may feel compelled to reduce the
price of the new B777-300ER as it approaches the introduction of
the B777X model.  Still, S&P believes that the B777-300ER has
overall good prospects for value retention, particularly because
the B777X is likely to be a derivative, and not an entirely new
version, of the B777-300ER.

The A319-100 is the smallest of the three main models in Airbus'
narrowbody product line.  Introduced in 1996, it has been a
successful and widely used plane, with about 1400 delivered or on
order.  It benefits from cockpit commonality with the larger A320-
200 and A321-200 models, making it easier for an airline to
operate a mixture of these models.  Two trends pose a challenge
for the A319-100.  First, airlines' increasing preference to use
larger models within a manufacturer's family of narrowbody planes
because high fuel prices and high load factors (utilization) in
many markets translate into lower per-seat and per-passenger costs
for the larger models.  This works in favor of the A320-200 and
A321-200 at the expense of the A319-100.  Second, Airbus will
introduce new engine option ("neo") versions of its three
narrowbody planes that are more fuel efficient.  With a large
existing base of A319-100 aircraft in service with many airlines,
S&P do not expect pronounced pressures on values (which already,
to some extent, incorporate the potential effects of the
introduction of the new A319 neo projected for 2016), but there
could be greater downside risk if an industry downturn occur later
this decade.

The A321-200 is the largest of the three main models in Airbus'
narrowbody product line.  Introduced in 1996, it did not sell as
well initially as the A320-200 and A319-100, but it has since
gained popularity, with cumulative deliveries and orders of more
than 1,300 planes.  The success is due to airlines' increasing
preference for larger narrowbody models and because of successive
incremental improvements to the A321-200 since its introduction.
As for other versions of its narrowbody family, Airbus will
introduce a neo version of the A321, projected to enter service in
2017.  Similar to the A319, we do notexpect this new version to
put pronounced pressure on the A321-200's value, but introduction
of the neo version could raise the risk of volatility late in the
decade.

"We are applying an annual depreciation rate of 6.5% of the
preceding year's value for the B777-300ER, which is equal to the
lowest depreciation rate we use for any widebody plane.  In
addition, we used an annual depreciation rate of 6% for the A319-
100 and 6.5% for the A321-200.  Our depreciation rates generally
correlate with our views on the aircraft models' resale liquidity
and technological risk, and are materially more conservative than
those used in the prospectus for these certificates," S&P said.

The pass-through certificates' loan-to-value (LTV) at issuance is
55% for class A and 71% for class B, using the appraised base
values and depreciation assumptions in the offering memorandum.
When S&P evaluates an enhanced equipment trust certificate, it
compares the values provided by appraisers that the airline hired
with its own sources.  In this case, S&P is focusing on the lowest
of the three base values the appraisers provided for the B777-
300ER aircraft and the A319-100 aircraft, but the highest of the
base values for the A321-200 aircraft.  S&P applies more
conservative (faster) depreciation rates than those used in the
prospectus (3% of initial value each year), and S&P's LTVs start
out modestly higher (55.6% for the class A certificates and 71.8%
for the class B certificates) and gradually diverge further from
those shown in the prospectus, reaching a maximum of about 56% for
the class A certificates and about 72% for the class B
certificates.  Our analysis also considered that a full draw of
the liquidity facility, plus interest on those draws, represents a
claim senior to the certificates.  This amount is typical of
recent EETCs, and it is equal to about 5% of the collateral value.
S&P factored that added priority claim in its analysis.  S&P also
notes that the transaction is structured so that American Airlines
could later issue subordinated classes of certificates without a
liquidity facility.  In the past, airlines have structured follow-
on certificates of this kind in such a way as to not affect the
rating on outstanding senior certificates.

AAG, American Airlines' parent, is the largest U.S. airline.
S&P's corporate credit rating on AAG reflects the company's
substantial market position and expected synergies from the 2013
merger of AMR Corp. (American Airlines' former parent) and US
Airways Group Inc. (parent of American Airlines's sister
subsidiary, US Airways Inc.) to form AAG, as well as the company's
heavy debt and lease burden and substantial capital spending
commitments.  S&P assess AAG's business risk profile as "fair" and
its financial risk profile as "highly leveraged," based on S&P's
criteria.

"We revised our rating outlook on AAG, American Airlines, and US
Airways Inc. to positive from stable on Aug. 29, 2014.  We expect
continued growth in AAG's earnings and cash flow, which should
result in improved credit measures despite heavy capital spending
and a $1 billion share repurchase program.  We could raise rating
if AAG's funds from operations to debt ratio exceeds 16% and we
expect it to remain at that level, and if its debt to EBITDA ratio
remains consistently below 4.5x.  In addition, in assessing the
sustainability of AAG's credit ratio improvements, we would
consider its progress on the merger integration as well as the
general industry outlook.  We could revise the outlook to stable
if the company's improvement trend falters, funds flow to debt
slips to the low-teens percent area, and debt to EBITDA rises
above 4.5x.  This could result from worse-than-expected merger
integration problems, general industry challenges such as a fuel
price spike, or a more aggressive financial policy," S&P noted.

RATINGS LIST

American Airlines Group Inc.
American Airlines Inc.
US Airways Inc.
Corporate Credit Rating                     B/Positive/--

New Ratings

American Airlines Inc.
Equipment trust certificates
  Series 2014-1 class A pass-thru certs      A (sf)
  Series 2014-1 class B pass-thru certs      BBB- (sf)


ANGOLA HEALTHCARE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Angola Healthcare, LLC
           dba Northern Lakes Nursing & Rehabilitation Center
        3500 S. Co. Rd. 310 W.
        Paoli, IN 47454

Case No.: 14-12365

Nature of Business: Health Care

Chapter 11 Petition Date: September 18, 2014

Court: United States Bankruptcy Court
       Northern District of Indiana (Fort Wayne Division)

Judge: Hon. Robert E. Grant

Debtor's Counsel: Sarah Mustard Heil, Esq.
                  SKEKLOFF & SKEKLOFF, LLP
                  110 W. Berry Street, Suite 2202
                  Fort Wayne, IN 46802
                  Tel: (260) 407-7000
                  Fax: 260-420-7072
                  Email: sarah@skeklofflaw.com

                     - and -

                  Daniel J. Skekloff, Esq.
                  SKEKLOFF & SKEKLOFF, LLP
                  110 W. Berry Street, Suite 2202
                  Fort Wayne, IN 46802
                  Tel: (260)407-7000
                  Fax: (260)420-7072
                  Email: dan@skeklofflaw.com

                    - and -

                  Scot T. Skekloff, Esq.
                  SKEKLOFF & SKEKLOFF, LLP
                  110 W. Berry Street, Suite 2202
                  Fort Wayne, IN 46802
                  Tel: (260)407-7000
                  Fax: (260)420-7072
                  Email: scot@skeklofflaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Rebecca Krueger Waiz, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/innb14-12365.pdf


ANIXTER INC: Fitch Rates $400 Million Sr. Unsecured Notes 'BB+'
---------------------------------------------------------------
Fitch rates Anixter Inc.'s (Anixter) $400 million seven-year
senior unsecured notes issuance 'BB+'. Fitch currently rates
Anixter, a wholly-owned subsidiary of Anixter International, Inc.
(Anixter International) at 'BB+' with a Stable Rating Outlook. A
full list of current ratings follows at the end of this release.
Anixter announced today it will issue $400 million of senior
unsecured notes maturing 2021. The notes will be fully and
unconditionally guaranteed by Anixter International. Anixter
intends to use the net proceeds to repay debt under its revolving
credit faculty and accounts receivable securitization program.

On Sept. 17, 2014, Anixter completed the $420 million acquisition
of Tri-Ed, an independent distributor of security and low-voltage
technology products. Anixter funded the purchase price with $220
million of borrowings under the existing revolving credit facility
(RCF) and a $200 million senior unsecured term loan.

Tri-Ed will complement Anixter's security-business positions,
specifically in video, access control, intrusion detection and
fire/life safety markets. For the trailing 12 months ended June
30, 2014, Tri-Ed reported sales of $570 million and operating
EBITDA margin of 6.3%, roughly equivalent to Anixter's margin.

Pro forma for the acquisition and use of debt proceeds to repay
existing debt, Fitch estimates total leverage (total debt-to-
operating EBITDA) will be approximately 2.8x. Fitch continues to
expect total leverage of 2x-3x over the longer-term.

Key Rating Drivers

The ratings and Outlook reflect Fitch's expectations for low- to
mid-single-digit organic revenue growth in 2014 as Anixter
benefits from modest macroeconomic improvements and new project
wins across its three business segments. Fitch expects EBITDA
margin to largely hold steady above 6%, absent any significant
swings in the U.S. dollar and copper prices.

In a stress scenario, Fitch expects EBITDA margin would decline to
levels near the trough of the last downturn, or around 5%. Fitch
believes working capital cash inflows in a downturn would roughly
offset lower EBITDA levels, resulting in free cash flow (FCF) in
excess of $200 million. In a flat revenue environment, Fitch
estimates Anixter will generate more than $200 million of annual
FCF.

Fitch expects that Anixter will continue to utilize excess cash
and FCF for potential acquisitions and shareholder-friendly
actions. Share repurchases and special dividends in excess of FCF
in the face of mounting macroeconomic concerns could pressure
Anixter's rating, particularly if such action is likely to result
in higher leverage upon the resumption of revenue growth.

Anixter's ratings and Outlook are supported by the following:

-- Leading market position in niche distribution markets, which
   Fitch believes contributes to Anixter's above-average industry
   margins;

-- Broad diversification of products, suppliers, customers and
   geographies which adds stability to the company's financial
   profile by reducing operating volatility;

-- Working capital efficiency which allows the company to generate
   FCF in a downturn.

Credit concerns include:

-- Historical use of debt and FCF for acquisitions and
   shareholder-friendly actions;

-- Thin operating margin characteristic of the technology
   distribution industry, albeit slightly expanded given the
   company's niche market position;

-- Significant unhedged exposure to copper prices and currency
   prices;

-- Exposure to the cyclicality of IT demand and general global
   economic conditions.

Ratings Sensitivities

Future developments that may, individually or collectively, lead
to negative rating action include:

-- Revenue declines that signal a loss of market share, either to
   other distributors or suppliers increasingly going direct to
   market;
-- Sustained negative FCF from significant special dividends or
   severe operating margin compression, likely resulting in
   structurally higher debt levels.

Fitch believes positive rating actions are limited by Anixter's
history of shareholder-friendly actions.

Pro forma for the use of proceeds from the $400 million senior
note issuance and acquisition, Fitch believes Anixter's liquidity
was adequate and consisted of the following as of July 4, 2014:

-- $121 million of cash and cash equivalents;
-- $400 million available under an undrawn RCF expiring 2018;
-- $200 million available under a $300 million on-balance-sheet
   accounts receivable securitization program expiring May 2017.

Pro forma for the senior notes and use of proceeds to repay
revolver and A/R securitization facility debt, total debt is $1.25
billion and consists primarily of the following:

-- $100 million outstanding under the accounts receivable
   securitization program;
-- $200 million of unsecured term loan A;
-- $200 million of 5.95% senior unsecured notes due February 2015;
-- $350 million of 5.625% senior unsecured notes due May 2019;
-- $400 million of senior unsecured notes due 2021; and
-- $4 million of other debt.

Fitch currently rates Anixter International and Anixter as
follows:

Anixter International, Inc.
-- Issuer Default Rating (IDR) 'BB+'.

Anixter Inc.
-- IDR 'BB+';
-- Senior unsecured notes 'BB+';
-- Senior unsecured term loan 'BB+';
-- Senior unsecured bank credit facility 'BB+'.


ANIXTER INC: Moody's Affirms 'Ba2' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service upgraded Anixter, Inc.'s speculative
grade liquidity rating to SGL-2 from SGL-3 and its rating outlook
to stable from negative, in conjunction with Anixter
International, Inc., Anixter, Inc.'s parent holding company
(collectively "Anixter") announcing a $400 million notes offering.
Proceeds of the proposed notes will be used to reduce borrowings
under the company's credit facilities, creating more than
sufficient availability to repay the Notes due March 1, 2015 and
removing a significant rating constraint for the company. In a
related rating action, Moody's affirmed Anixter's Ba2 Corporate
Family Rating and its Ba2-PD Probability of Default Rating.
Moody's also assigned a Ba3 rating to the proposed $400 million
Senior Unsecured Notes due 2021.

The following ratings/assessments were affected by this action:

  Corporate Family Rating affirmed at Ba2;

  Probability of Default Rating affirmed at Ba2-PD;

  $200 million Sr. Unsec. Notes due 2015 affirmed at Ba3 (LGD4);

  $350 million Sr. Unsec. Notes due 2019 affirmed at Ba3 (LGD4);
  and

  $400 million Sr. Unsec. Notes due 2021 assigned Ba3 (LGD4).

  Speculative grade liquidity rating upgraded to SGL-2 from SGL3.

Ratings Rationale

The upgrade of Anixter's speculative grade liquidity rating to
SGL-2 from SGL-3 and changing the company's rating outlook to
stable from negative result from Moody's expectations that the
company will have sufficient cash on hand and availability under
its revolving credit facilities to redeem its $200 million of
notes that come due on March 1, 2015, thus removing a significant
rating constraint. Proceeds from the proposed $400 million notes
offering will be used to pay down approximately $393 million of
outstanding borrowings under Anixter's revolving credit facility
and securitization facility, creating sufficient availability
under these credit facilities to fund working capital needs and
pay off the 2015 notes. The balance of funds will be used for
related fees and expenses.

Anixter's Ba2 Corporate Family Rating reflects its solid business
profile featuring a diverse product offering and wide range of
customers, as well as the stability of its operating performance
and free cash flow generation. Anixter is a global distributor of
over 450,000 products in over 50 countries. The company has a well
diversified customer base with no single customer accounting for
more than 3% of sales. Moody's anticipates adjusted EBITDA margins
to remain in the 7.5% - 7.75% range through 2015. Also, Anixter is
able to generate significant levels of free cash flow, generating
about $275 million in its last 12 months when adding back the one-
time dividend of $165 million in 4Q13.

The Ba3 rating assigned to the proposed $400 million Senior
Unsecured Notes due 2021 results from Moody's expectations that
these notes are pari passu to the $200 million Sr. Unsecured Notes
due 2015 and $350 million Sr. Unsecured Notes due 2019, and share
the same guarantors. Moody's views these notes as structurally
subordinated to Anixter's unsecured revolving credit facility and
term loan (both unrated), since the bank debt will benefit from
the eventual guarantee provided by Tri-Northern Acquisitions
Holdings, Inc. ("Tri-Ed"), Anixter's recently acquired business,
and the notes will not be guaranteed by Tri-Ed.

An upgrade in Anixter's ratings is possible if operating
performance results in metrics that validate Moody's forward-
looking analysis, such that (EBITDA - CAPEX)/interest expense
sustained above 5.25x and debt-to-EBITDA approaching 2.25x (all
ratios incorporate Moody's standard adjustments). A better
liquidity profile would also support positive rating actions.

A downgrade could ensue if Anixter's financial performance
deteriorates due to a decline in the company's end markets that
result in (EBITDA - CAPEX)/interest expense nearing 2.5x or debt-
to-EBITDA remaining above 3.5x (all ratios incorporate Moody's
standard adjustments). Significant debt-financed acquisitions,
sizeable share repurchases, special dividends that meaningfully
increase debt levels or negatively impact Anixter's liquidity
profile could adversely affect the ratings, as well.

Anixter Inc., headquartered in Glenview, IL, is a global
distributor of communications products, electrical and electronic
wire and cable, fasteners and other small parts. End users include
manufacturers, natural resources companies, utilities and original
equipment manufacturers that use the company's products as
components in their end products. Revenues on a pro forma basis
inclusive of Tri-Ed for the 12 months ended July 4, 2014 total
approximately $6.8 billion.

The principal methodology used in this rating was Global
Distribution & Supply Chain Services published in November 2011.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.


ARCH COAL: Bank Debt Trades at 3% Off
-------------------------------------
Participations in a syndicated loan under which Arch Coal Inc. is
a borrower traded in the secondary market at 96.69 cents-on-the-
dollar during the week ended Friday, September 19, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.36
percentage points from the previous week, The Journal relates.
Arch Coal Inc. pays 500 basis points above LIBOR to borrow under
the facility.  The bank loan matures on May 17, 2018, and carries
Moody's B1 rating and Standard & Poor's B+ rating.  The loan is
one of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


ARIZONA LA CHOLLA: Amends Schedules of Assets and Liabilities
-------------------------------------------------------------
Arizona La Cholla LLC filed an amended summary of schedules of
assets and liabilities in the U.S. Bankruptcy Court for the
District of Arizona, disclosing total assets of $9,208,387 and
total liabilities of $3,329,187.  A full-text copy of the amended
schedules is available for free at http://tinyurl.com/korm5ss

The Debtor previously reported $9,208,387 in total assets and
$3,368,589 in total liabilities.

In its petition, the Debtor estimated assets and liabilities of at
least $10 million.

Arizona La Cholla, L.L.C., filed a Chapter 11 bankruptcy petition
(Bankr. D. Ariz. Case No. 14-10254) on July 2, 2014.  Steven L.
Nannini signed the petition as manager.  Altfeld & Battaile P.C.
serves as the Debtor's counsel.


ARMORWORKS ENTERPRISES: Seeks Nod to Extend DIP Loans to October
----------------------------------------------------------------
Armorworks Enterprises, LLC, and Techfiber, LLC, ask the
Bankruptcy Court to approve the third forbearance agreement and
fourth amendment to Debtor-In-Possession credit agreement executed
with Lancelot Armor, LLC, the DIP lender.

Grant Lyon, the Independent Debtor Representative, consented to
the relief.

The material terms of the third forbearance include:

   i) a $1,000,000 principal payment by the Debtors;

  ii) an extension of the maturity date of the DIP Facility from
Aug. 31, 2014, to Oct. 31, 2014 in exchange for a 1.5% extension
fee; and

iii) a reduction of the interest rate from 21% to 15% per annum.

In addition to obtaining the consent of the Independent Debtor
Representative, the Debtors have confirmed that the Official
Committee of Unsecured Creditors, C Squared Capital Partners, LLC,
and Anchor Management, LLC have no objection to the relief
requested.

The Debtors are represented by:

         John R. Clemency, Esq.
         Todd A. Burgess, Esq.
         GALLAGHER & KENNEDY, P.A.
         2575 East Camelback Road
         Phoenix, AZ 85016-9225
         Tel: (602) 530-8000
         Fax: (602) 530-8500
         E-mail: john.clemency@gknet.com
                 todd.burgess@gknet.com

                   About ArmorWorks Enterprises

Military armor systems provider ArmorWorks Enterprises, LLC, and
affiliate TechFiber LLC sought Chapter 11 protection (Bankr. D.
Ariz. Case Nos. 13-10332 and 13-10333) in Phoenix on June 17,
2013, along with a plan that resolves a dispute with a minority
shareholder and $3.5 million of financing that would save the
company from running out of cash.

ArmorWorks develops advanced survivability technology and designs
and manufactures armor and protective products.  ArmorWorks has
produced over 1.25 million ceramic armor and composite armor
protection components for a variety of personnel armor, aircraft,
and vehicle applications.

The Debtors have tapped Todd A. Burgess, Esq., John R. Clemency,
Esq., Lindsi M. Weber, Esq., and Janel M. Glynn, Esq., at
Gallagher & Kennedy, as counsel; and MCA Financial Group, Ltd.,
as financial advisor.  ArmorWorks estimated $10 million to
$50 million in assets and liabilities.

The U.S. Trustee for Region 14 appointed creditors to serve on an
Official Committee of Unsecured Creditors.  Forrester & Worth,
P.L.L.C. represents the Committee as its general counsel.

As of May 26, 2012, ArmorWorks had total assets of $30.9 million
and total liabilities of $12.04 million.

ArmorWorks and TechFiber sought and obtained an order
(i) transferring the In re TechFiber, LLC chapter 11 case to
the Honorable Brenda Moody Whinery, the judge assigned to the
ArmorWorks Chapter 11 case, and (ii) authorizing the joint
administration of the Debtors' cases.


AS SEEN ON TV: Changes Fiscal Year End to December 31
-----------------------------------------------------
The board of directors of As Seen On TV, Inc., approved a change
in the Company's fiscal year end from March 31 to December 31.
The change is intended to align the Company's fiscal year end with
its recently acquired subsidiary, Infusion Brands, Inc., who was
deemed the accounting acquirer in the reverse acquisition
transaction.

                        About As Seen on TV

Clearwater, Fla.-based As Seen On TV, Inc., is a direct response
marketing company.  It identifies, develops, and markets consumer
products.

As reported by the TCR on Nov. 6, 2012, As Seen On TV entered into
an Agreement and Plan of Merger with eDiets Acquisition Company
("Merger Sub"), eDiets.com, Inc., and certain other individuals.
Pursuant to the Merger Agreement, Merger Sub will merge with and
into eDiets.com, and eDiets.com will continue as the surviving
corporation and a wholly-owned subsidiary of the Company.  The
Merger Agreement was completed on April 2, 2014.

The Company incurred a net loss of $9.32 million on $1.98 million
of revenues for the year ended March 31, 2014, as compared with
net income of $3.69 million on $9.40 million of revenues for the
year ended March 31, 2013.  The Company's balance sheet at
March 31, 2014, showed $5.78 million in total assets, $3.58
million in total liabilities and $2.20 million in total
stockholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the
year ended March 31, 2014.  The independent auditors noted that
the Company's recurring losses from operations and negative cash
flows from operations raise substantial doubt about its ability to
continue as a going concern.

                         Bankruptcy Warning

The Company stated the following in the fiscal 2014 Annual Report,
"At March 31, 2014, we had a cash balance of $5,400, a working
capital deficit of approximately $2.9 million and an accumulated
deficit of approximately $22.9 million.  We have experienced
losses from operations since our inception, and we have relied on
a series of private placements and convertible debentures to fund
our operations.  The Company cannot predict how long it will
continue to incur losses or whether it will ever become
profitable."

Pursuant to a Senior Note Purchase Agreement dated as of April 3,
2014, by and among the Company, IBI, Infusion, eDiets.com, Inc.,
Tru Hair, Inc., TV Goods Holding Corporation, Ronco Funding LLC --
Credit Parties -- and MIG7 Infusion, LLC, the Credit Parties sold
to MIG7 a senior secured note having a principal amount of
$10,180,000 bearing interest at 14% and having a maturity date of
April 3, 2015.

The Company added, "We have undertaken, and will continue to
implement, various measures to address our financial condition,
including:

   * Significantly curtailing costs and consolidating operations,
     where feasible.

   * Seeking debt, equity and other forms of financing, including
     funding through strategic partnerships.

   * Reducing operations to conserve cash.

   * Deferring certain marketing activities.

  * Investigating and pursuing transactions with third parties,
    including strategic transactions and relationships.

There can be no assurance that we will be able to secure the
additional funding we need.  If our efforts to do so are
unsuccessful, we will be required to further reduce or eliminate
our operations and/or seek relief through a filing under the U.S.
Bankruptcy Code."


ASR CONSTRUCTORS: Hearing on Plan Outline Continued to Oct. 21
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
will continue on October 21, 2014, the hearing to consider
approval of ASR Constructors Inc.'s disclosure statement, which
explains its proposed Chapter 11 plan.

According to the disclosure statement, the purpose of the plan is
to liquidate, collect and maximize the cash value of the remaining
assets of the company and its affiliated debtors, and make
distributions to satisfy creditors' claims.

Upon the effective date of the plan, the property of the estates
will vest in the companies and will be transferred to the
creditors' trust.  The trust will be managed by a disbursing agent
by liquidating or abandoning all potential sources of assets of
the companies for funding for the plan.

                     About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  ASR disclosed $17,647,556 in
assets and $18,901,467 in liabilities as of the Chapter 11 filing.

Judge Mark D. Houle presides over the case.  James C. Bastian,
Jr., Esq., at Shulman Hodges & Bastian, LLP, serves as the
Debtor's counsel.

The Law Office of John D. Mannerino serves as corporate counsel to
the Debtor.  Rodgers, Anderson, Malody & Scott LLP CPAs serves as
accountant to the Debtor.

Two affiliates -- Another Meridian Company, LLC and Inland
Machinery, Inc. -- also filed Chapter 11 petitions.


ASR CONSTRUCTORS: Seeks $419,000 Surcharge of FIC's Collateral
--------------------------------------------------------------
ASR Constructors Inc. and its debtor affiliates seek an order from
the U.S. Bankruptcy Court for the Central District of California
authorizing surcharge of collateral.

The Debtors are requesting a $300,000 surcharge of Federal
Insurance Company's first priority lien against Federal's
collateral to cover the costs and expenses incurred by the Debtors
to preserve and realize value in Federal's collateral.  Payment to
the Professionals covered by the surcharge will be subject to
further application and Court order on the allowance of the
Professionals' fees and expenses under the applicable provisions
of the Bankruptcy Code.

The Debtors are also requesting a $119,491 surcharge of Federal's
lien for the expenses incurred by the Debtors to prepare Federal's
collateral to be sold in previous auctions and in the auction to
occur in October 2014.

"Without the Debtors and the Professionals employed in the case,
the preservation and realization of value in Federal's collateral
would not have been possible," James C. Bastian, Jr., Esq., at
Shulman Hodges & Bastian LLP, in Irvine, California --
jbastian@shbllp.com -- tells the Court.  "All of the efforts of
the Debtor and the Professionals have directly related to the
preservation and beneficial disposition of Federal's collateral,"
he adds.

                     About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  ASR disclosed $17,647,556 in
assets and $18,901,467 in liabilities as of the Chapter 11 filing.

Judge Mark D. Houle presides over the case.  James C. Bastian,
Jr., Esq., at Shulman Hodges & Bastian, LLP, serves as the
Debtor's counsel.

The Law Office of John D. Mannerino serves as corporate counsel to
the Debtor.  Rodgers, Anderson, Malody & Scott LLP CPAs serves as
accountant to the Debtor.

Two affiliates -- Another Meridian Company, LLC and Inland
Machinery, Inc. -- also filed Chapter 11 petitions.


ASR CONSTRUCTORS: Court OKs Sale of Phelan Property for $59,000
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Debtor Another Meridian Company, LLC, to sell the real
property located at 3758 Kreuer Road, in Phelan, California, free
and clear of liens, claims, encumbrances and interests to Dean S.
Thompson and David J. Thompson or their assignee for $59,000.

The sale of the Property is "AS IS" without warranties of any
kind, expressed or implied, being given by the Debtor, concerning
the condition of the Property or the quality of the title thereto,
or any other matters relating to the Property.

The Phelan Property is not encumbered by any lender liens but is
encumbered by the cross-collateralized lien of Federal Insurance
Company.  Through the sale, after payment of (1) real property
taxes, (2) brokerage commissions, and (3) other costs of the sale
including escrow fees, title charges and documentary transfer
taxes, the balance of the net sale proceeds estimated to be
approximately $51,320, will be held by Meridian in a segregated
account subject to the liens and cash collateral agreements with
Federal.

The Debtors said the agreements reached with Federal have allowed
for the preservation and completion of the sale of the Phelan
Property and will provide Meridian with additional net proceeds
for distribution to creditors.  Therefore, good cause exists to
grant the sale motion so that the favorable business opportunity
is not lost.

                     About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  ASR disclosed $17,647,556 in
assets and $18,901,467 in liabilities as of the Chapter 11 filing.

Judge Mark D. Houle presides over the case.  James C. Bastian,
Jr., Esq., at Shulman Hodges & Bastian, LLP, serves as the
Debtor's counsel.

The Law Office of John D. Mannerino serves as corporate counsel to
the Debtor.  Rodgers, Anderson, Malody & Scott LLP CPAs serves as
accountant to the Debtor.

Two affiliates -- Another Meridian Company, LLC and Inland
Machinery, Inc. -- also filed Chapter 11 petitions.


ASR CONSTRUCTORS: Seeks Authority to Use FIC's Cash Collateral
--------------------------------------------------------------
ASR Constructors, Inc., Another Meridian Company, LLC, and Inland
Machinery, Inc., ask for permission from the U.S. Bankruptcy Court
for the Central District of California to use cash collateral.

Meridian recently sold the real property located at 5230 Wilson
Street, in Jurupa Valley, California, and is holding proceeds of
approximately $1,890,000 and recently obtained Court approval to
sell the real property located at 3758 Kreuer Road, in Phelan,
California, and expects to receive net proceeds of approximately
$51,000.  The Wilson Street Property is encumbered by the cross-
collateralized lien of Federal Insurance Company and the Phelan
Property is encumbered by the cross-collateralized liens of both
Federal and Berkley Regional Insurance Company.  In addition,
Inland is holding the net proceeds of a postpetition auction of
some of its equipment for approximately $320,000.  The assets of
Inland are also encumbered by the cross-collateralized liens of
Federal and Berkley.

ASR is in the process of completing its remaining jobs.  Federal
has taken over ASR's construction projects it has bonded but has
requested ASR's assistance with respect to various administrative
matters related to same.  Further, there are two remaining open
projects where Berkley is the surety and ASR is providing
construction and administrative services which are each
approximately 80% complete.  ASR expects that it will complete all
remaining projects by no later than February 2015, which will
result in over $4.5 million of receivables to collect.

Through the Motion, the Debtors ask the Court for authority to use
some of Federal's cash collateral in the form of the proceeds from
the sale of the Properties and Inland's assets to pay overhead
expenses of ASR to allow ASR to complete its remaining projects
and preserve the remaining assets of all the Debtors pursuant to a
proposed budget.  A copy of the Budget is available for free at:

  http://bankrupt.com/misc/ASRConstructors_Budget_08192014.pdf

The Debtors believe that approximately one-half of the utility
expenses, rent expenses, and office personnel inure to the benefit
of Federal and approximately 10% of insurance as the Debtors
continue to provide services to Federal in answering questions and
providing documents as needed and in enhancing recoveries on
projects that are not bonded by Federal, but which are part of
Federal's asserted lien, which will result in collections that
provides an increase to collateral claimed by Federal.

The Debtors also believe the only way to maximize value for the
Estates is for ASR to complete its projects, which will increase
receipt on the outstanding accounts receivable and narrow the
losses of the sureties which will in turn, benefit all creditors
of the bankruptcy estate.

                     About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  ASR disclosed $17,647,556 in
assets and $18,901,467 in liabilities as of the Chapter 11 filing.

Judge Mark D. Houle presides over the case.  James C. Bastian,
Jr., Esq., at Shulman Hodges & Bastian, LLP, serves as the
Debtor's counsel.

The Law Office of John D. Mannerino serves as corporate counsel to
the Debtor.  Rodgers, Anderson, Malody & Scott LLP CPAs serves as
accountant to the Debtor.

Two affiliates -- Another Meridian Company, LLC and Inland
Machinery, Inc. -- also filed Chapter 11 petitions.


ASR CONSTRUCTORS: Wants to Sell Unnecessary Machinery & Equipment
-----------------------------------------------------------------
Inland Machinery, Inc. seeks the authority of the U.S. Bankruptcy
Court for the Central District of California to conduct an auction
sale of assets of the estate (machinery and equipment) free and
clear of liens.  Inland also seeks permission to employ an
auctioneer and pay its compensation.

Inland wants to conduct a public auction sale to the highest
bidder(s) of certain assets generally described as rental
machinery and equipment no longer needed in the operation of its
machinery and equipment rental business.  The Assets include a
tractor, a box truck, a dump truck, crew cabs and bottom dump
trailers.

The proposed auction sale is scheduled for October 2, 2014, at the
business premises of Ritchie Bros. Auctioneers (America) Inc. in
Perris, California.  Inland also seeks authority to enter into an
Auction Contract for the employment of Ritchie Bros., as
auctioneers.

Inland assures the Court that its largest secured lienholders,
Federal Insurance Company and Berkley Regional Insurance Company,
have no objection to the proposed auction sale, but this will be
confirmed prior to the hearing.

Inland does not believe that any of the Assets to be sold are
subject to lease interests.

Before payment of the Auctioneer's fees and expenses, the gross
proceeds of the auction sale are estimated to be between $243,000
and $248,000 based on the estimated values of the Assets.

After the Auctioneer's payment, the net auction proceeds will be
held by Inland in a segregated account subject to the liens and
cash collateral agreements with Federal and Berkley or further
Court order.

                     About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  ASR disclosed $17,647,556 in
assets and $18,901,467 in liabilities as of the Chapter 11 filing.

Judge Mark D. Houle presides over the case.  James C. Bastian,
Jr., Esq., at Shulman Hodges & Bastian, LLP, serves as the
Debtor's counsel.

The Law Office of John D. Mannerino serves as corporate counsel to
the Debtor.  Rodgers, Anderson, Malody & Scott LLP CPAs serves as
accountant to the Debtor.

Two affiliates -- Another Meridian Company, LLC and Inland
Machinery, Inc. -- also filed Chapter 11 petitions.


ASSOCIATED WHOLESALERS: Has Until Oct. 17 to File Schedules
-----------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware to extended until the later of Oct. 17, 2014, or the date
that is one week prior to the auction of substantially all of the
assets of Associated Wholesalers, Inc., AWI Delaware, Inc., and
its debtor affiliates the time within which the Debtors must file
their schedules of assets and liabilities and statements of
financial affairs.

                   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 sought Chapter 11
bankruptcy protection on Sept. 9, 2014, 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.  The
Debtors estimate trade debt of $72 million.

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.  Carl Marks' Douglas A. Booth has
been tapped as chief restructuring officer.  Epiq Systems, the
claims agent, maintains the Web site http://dm.epiq11.com/awi


ASSOCIATED WHOLESALERS: PBGC Files Notice of Appearance
-------------------------------------------------------
The Pension Benefit Guaranty Corporation, an agency of the U.S.
Government, filed a notice of appearance in the Chapter 11 cases
of Associated Wholesalers, Inc., AWI Delaware, Inc., and its
debtor affiliates.

The PBGC is represented by:

         Frank A. Anderson, Esq.
         PENSION BENEFIT GUARANTY CORPORATION
         Office of the Chief Counsel
         1200 K Street, N.W.
         Washington, D.C. 20005-4026
         Tel: (202) 326-4020, ext. 3759
         Fax: (202) 326-4112
         E-mails: anderson.frank@pbgc.gov
                  efile@pbgc.gov

                   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 sought Chapter 11
bankruptcy protection on Sept. 9, 2014, 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.  The
Debtors estimate trade debt of $72 million.

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.  Carl Marks' Douglas A. Booth has
been tapped as chief restructuring officer.  Epiq Systems, the
claims agent, maintains the Web site http://dm.epiq11.com/awi


ASSOCIATED WHOLESALERS: Taps Epiq as Administrative Advisor
-----------------------------------------------------------
Associated Wholesalers, Inc., AWI Delaware, Inc., and its debtor
affiliates seek authority from the U.S. Bankruptcy Court for the
District of Delaware to approve the standard services agreement
with Epiq Bankruptcy Solutions, LLC, under which Epiq will serve
as administrative advisor to the Debtors.

Epiq will provide the following bankruptcy-related administrative
services:

   (a) consulting with the Debtors and the Debtors' professionals
       regarding timing issues, voting and tabulation procedures
       and documents needed for voting;

   (b) assisting in obtaining information regarding members of
       voting classes;

   (c) coordinating the distribution of solicitation documents;

   (d) responding to requests for documents from parties-in-
       interest, as well as telephone inquiries relating to the
       disclosure statement and voting procedures;

   (e) establishing a Web site for the posting of solicitation
       documents;

   (f) receiving and examining all ballots and master ballots cast
       by voting parties;

   (g) tabulating all ballots and master ballots received prior to
       the voting deadline and preparing a certification for
       filing with the Court;

   (h) gathering data in conjunction with the preparation, and
       assist with the preparation, of the Debtors' schedules of
       assets and liabilities and statements of financial affairs;

   (i) generating, providing and assisting with claims objections,
       exhibits, claims reconciliation and related matters;

   (j) providing a confidential data room and website for the
       posting of documents; and

   (h) providing other claims processing, noticing, solicitation,
       balloting and administrative services.

The firm 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 Debtors have sought and obtained authority to employ Epiq as
claims and noticing agent to, among other things, (i) distribute
required notices to parties-in-interest, (ii) receive, maintain,
docket and otherwise administer the proofs of claim and voting
ballots filed in the Chapter 11 cases, and (iii) provide other
administrative services that would fall within the purview of
services to be provided by the Clerk's Office.

A hearing to consider approval of the employment application is
scheduled for Oct. 3, 2014, at 10:00 a.m. (EST).  Objections are
due 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 sought Chapter 11
bankruptcy protection on Sept. 9, 2014, 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.  The
Debtors estimate trade debt of $72 million.

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.  Carl Marks' Douglas A. Booth has
been tapped as chief restructuring officer.  Epiq Systems, the
claims agent, maintains the Web site http://dm.epiq11.com/awi


AT EMERALD: Judge Converts Case to Chapter 7 Proceeding
-------------------------------------------------------
The Hon. Bruce T. Beesley of the U.S. Bankruptcy Court for the
District of Nevada converted the Chapter 11 bankruptcy case of At
Emerald LLC to Chapter 7 case at the behest of U.S. Trustee Tracy
Hope Davis.

As reported in the Troubled Company Reporter on June 25, 2014, the
U.S. Trustee asserts that the Debtor does not maintain insurance
coverage on its primary asset, an emerald which has been appraised
at $200 million, contrary to Section 1112(b)(4)(C) of the
Bankruptcy Code.  The Trustee, therefore, seeks to convert the
case to a Chapter 7 case for the protection of the bankruptcy
estate.

                         About AT Emerald

AT Emerald LLC filed a Chapter 11 bankruptcy petition (Bankr. D.
Nev. Case No. 14-50331) on March 4, 2014, in Reno, Nevada.  The
Washoe, Nevada-based company disclosed $200 million in assets and
less than $541,000 in liabilities.  The company has no real
property.  Its lone major asset is one emerald valued at $200
million, which is categorized under furs and jewelry.

Bankruptcy Judge Bruce T. Beesley is assigned to the case.

Holly E. Estes, Esq., at the Law Offices of Alan R. Smith of Reno,
NV represents the Debtor.

Anthony Thomas, the managing member, owns 100% of the company's
stock.


AURORA DIAGNOSTICS: Moody's Affirms Caa2 Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed the Corporate Family and
Probability of Default Ratings of Aurora Diagnostics Holdings, LLC
at Caa2 and Caa2-PD, respectively. Moody's also affirmed the Caa3
(LGD 5) rating on the company's senior unsecured notes.
Concurrently, Moody's upgraded Aurora's Speculative Grade
Liquidity Rating to SGL-3 from SGL-4. Aurora's rating outlook was
changed to stable from negative.

The upgrade of the Speculative Grade Liquidity Rating reflects the
improvement in Aurora's liquidity profile following the
refinancing of the company's senior secured credit facilities (not
rated by Moody's). While Moody's expects that a significant
portion of cash flow will be used to fund the considerable
interest burden associated with the company's notes, the new
credit facility provides for an unused revolver, additional
availability for acquisitions in the form of a delayed draw term
loan, an extension of the maturity date, and resetting of covenant
levels.

The change in the rating outlook to stable reflects the
improvement in the company's liquidity and greater comfort that
the company can maintain compliance with financial covenants as
set forth in the new senior secured credit facility over the next
12 to 18 months. The stable outlook also reflects Moody's
expectation that the company will actively pursue acquisitions of
pathology practices, and that earnings and cash flow from these
acquired operations will mitigate any further deterioration of
credit metrics. However, Moody's continues to believe that it will
be difficult for the company to meaningfully reduce leverage over
the near term.

Ratings upgraded:

  Speculative Grade Liquidity Rating to SGL-3 from SGL-4

Ratings affirmed:

  Corporate Family Rating at Caa2

  Probability of Default Rating at Caa2-PD

  Senior unsecured notes due 2018 at Caa3 (LGD 5)

The rating outlook was changed to stable from negative.

Ratings Rationale

Aurora's Caa2 Corporate Family Rating reflects Moody's expectation
that Aurora will continue to operate with considerable financial
leverage and that adjusted debt to EBITDA is likely to remain
around 9.0 times. Moody's believes that it is unlikely that the
company can sustain its current capital structure over the medium
to longer term given the considerable interest burden associated
with the outstanding notes. The cash requirement to service the
interest on the notes will constrain the ability to reinvest in
the business or repay debt, and will require reliance on the
delayed draw term loan and revolver to fund acquisitions. Moody's
expects that Aurora will actively pursue acquisitions and that a
difficult operating environment, characterized by considerable
competition for pathology services and weak growth in test
volumes, will continue in the near term.

The stable rating outlook reflects Moody's expectation of a
continuation of a challenging operating environment, including
weak volume trends, and the potential for additional reimbursement
cuts. Moody's believes that liquidity will remain adequate in the
near term but could again come under pressure if the company does
not realize a return from recently acquired pathology practices.

Moody's could downgrade the rating if it expects liquidity to
weaken, such that it expects free cash flow to be negative for an
extended period or compliance with covenant requirements to become
less certain.

Given the pressures facing the company, Moody's does not expect to
upgrade Aurora's ratings in the near term. However, Moody's could
upgrade the ratings if Aurora is able to improve the availability
of free cash flow after funding interest payments and obligations
related to contingent payments.

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.

Aurora Diagnostics Holdings, LLC, the parent company of Aurora
Diagnostics, LLC (collectively Aurora), through its subsidiaries,
provides physician-based general anatomic and clinical pathology,
dermatopathology, molecular diagnostic services and other esoteric
testing services to physicians, hospitals, clinical laboratories
and surgery centers. Aurora recognized approximately $242 million
in revenue for the twelve months ended June 30, 2014.


AUXILIUM PHARMACEUTICALS: Gets Purchase Proposal From Endo
----------------------------------------------------------
Auxilium Pharmaceuticals, Inc., confirmed that it had received an
unsolicited, non-binding proposal from Endo International plc to
acquire all of the outstanding shares of Auxilium common stock at
a price of $28.10 per share in cash and Endo stock, subject to due
diligence, financing and other conditions.

Auxilium said that consistent with its fiduciary duties and in
accordance with its existing merger agreement with QLT Inc.,
Auxilium's Board of Directors, in consultation with its financial
and legal advisors, will carefully review all aspects of the Endo
proposal.

According to Auxilium, the Board is not withdrawing, modifying,
withholding, changing or qualifying its recommendation with
respect to its existing merger agreement with QLT Inc., or
proposing to do so.

In addition, in light of the unsolicited proposal from Endo,
Auxilium announced that the Board has unanimously adopted a one-
year stockholder rights plan effective Sept. 16, 2014, and
declared a dividend distribution of one preferred share purchase
right on each outstanding share of Auxilium's common stock.  QLT
Inc. consented to the adoption of the Plan and related matters in
accordance with the terms of the merger agreement.  The Plan is
intended to ensure that the Board remains in the best position to
perform its fiduciary duties and to enable all Auxilium
stockholders to receive fair and equal treatment.  It is also
designed to allow all Auxilium stockholders to realize the long-
term value of their investment by reducing the likelihood that any
person or group would gain control of Auxilium through open market
accumulation or other coercive tactics without appropriately
compensating Auxilium's stockholders for such control or providing
the Board sufficient time to make informed judgments.

Under the Plan, stockholders of record at the close of business on
Sept. 29, 2014, will receive one right for each share of Auxilium
common stock held on that date.  Initially, these rights will not
be exercisable and will trade with the shares of Auxilium common
stock.  If the rights become exercisable, each right will entitle
stockholders to buy one one-hundredth of a share of a new series
of junior participating preferred stock at an exercise price of
$100 per right.  The distribution of the rights is not taxable to
stockholders, and the Plan is scheduled to expire on Sept. 16,
2015, unless the rights are earlier redeemed or exchanged by
Auxilium.

Subject to certain exceptions, the rights will be exercisable if a
person or group is deemed to be the beneficial owner of 15 percent
or more of Auxilium's common stock under the Plan, unless the
acquisition of the shares was made at a price that at least two-
thirds of the Board determines is fair and in the best interests
of Auxilium and its stockholders or certain other exceptions
apply.  In that instance, each right will entitle its holder
(other than such person or members of such group) to purchase, at
the exercise price, a number of shares of Auxilium's common stock
having a then-current market value of twice the exercise price.

Subject to certain limited exceptions, rights held by any person
or group whose actions trigger the Plan would become void and not
be exercisable.

Stockholders are not required to take any action to receive the
rights distribution.  Until the rights become exercisable, they
will trade with the shares of Auxilium's common stock.  The Plan
will not have an impact on the reported earnings per share of
Auxilium and will not change the manner in which Auxilium's common
stock is currently traded.

Additional details about the Plan is available for free at:

                        http://is.gd/cpMGjz

Deutsche Bank Securities Inc. is acting as financial advisor to
Auxilium.  Willkie Farr & Gallagher LLP, Skadden, Arps, Slate,
Meagher & Flom LLP, and Morgan, Lewis & Bockius LLP are acting as
legal advisors to Auxilium.

                          About Auxilium

Auxilium Pharmaceuticals, Inc. -- http://www.Auxilium.com/-- is a
fully integrated specialty biopharmaceutical company with a focus
on developing and commercializing innovative products for
specialist audiences.  With a broad range of first- and second-
line products across multiple indications, Auxilium is an emerging
leader in the men's healthcare area and has strategically expanded
its product portfolio and pipeline in orthopedics, dermatology and
other therapeutic areas.

Auxilium now has a broad portfolio of 12 approved products.  Among
other products in the U.S., Auxilium markets edex(R) (alprostadil
for injection), an injectable treatment for erectile dysfunction,
Osbon ErecAid(R), the leading device for aiding erectile
dysfunction, STENDRATM (avanafil), an oral erectile dysfunction
therapy, Testim(R) (testosterone gel) for the topical treatment of
hypogonadism, TESTOPEL(R) (testosterone pellets) a long-acting
implantable testosterone replacement therapy, XIAFLEX(R)
(collagenase clostridium histolyticum or CCH) for the treatment of
Peyronie's disease and XIAFLEX for the treatment of Dupuytren's
contracture.

The Company also has programs in Phase 2 clinical development for
the treatment of Frozen Shoulder syndrome and cellulite.

The Company's balance sheet at June 30, 2014, showed $1.11 billion
in total assets, $935.82 million in total liabilities and $179.40
million in total stockholders' equity.

                           *     *     *

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

In the Aug. 20, 2014, edition of the TCR, Standard & Poor's
Ratings Services affirmed its 'CCC' corporate credit rating on
Auxilium Pharmaceuticals Inc. following the company's announcement
that it had obtained an amendment to its credit agreement
permitting the change of control associated with the company's
proposed merger with a Canadian biotechnology firm QLT Inc.  The
outlook is negative.


BANK OF THE CAROLINAS: Turlington Dismissed as Accountant
---------------------------------------------------------
Bank of the Carolinas Corporation had dismissed Turlington and
Company, L.L.P., as its independent registered public accounting
firm.  The decision to change accountants was recommended and
approved by the audit committee of the board of directors of the
Company.

Turlington's reports on the Company's financial statements for the
fiscal years ending Dec. 31, 2013, and 2012 did not contain an
adverse opinion or a disclaimer of opinion, and were not qualified
or modified as to audit scope or accounting principles.  However,
the 2013 and 2012 reports did raise substantial doubt as to the
ability of the Company to continue as a going concern.

The Company said that during the fiscal years ending Dec. 31,
2013, and 2012 and during the three- and six-month periods ending
March 31, 2014, and June 30, 2014, there were no disagreements
with Turlington on any matter of accounting principles or
practices, financial statement disclosures, or auditing scope or
procedures.

                    About Bank of the Carolinas

Mocksville, North Carolina-based Bank of the Carolinas Corporation
was formed in 2006 to serve as a holding company for Bank of the
Carolinas.  The Bank's primary market area is in the Piedmont
region of North Carolina.

Turlington and Company, LLP, in Lexington, North Carolina, 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 credit
losses that have eroded certain regulatory capital ratios.  As of
Dec. 31, 2013, the Company is considered undercapitalized based on
their regulatory capital level.  This raises substantial doubt
about the Company's ability to continue as a going concern.

The Company reported a net loss available to common stockholders
of $2.33 million in 2013, a net loss available to common
stockholders of $5.53 million in 2012 and a net loss available to
common stockholders of $29.18 million in 2011.

As of June 30, 2014, the Company had $427.82 million in total
assets, $423.04 million in total liabilities and $4.77 million in
total stockholders' equity.


BENTLEY PREMIER: Hearing Today on Bid to Reconsider Plan Orders
---------------------------------------------------------------
The Hon. Brenda T. Rhoades of the U.S. Bankruptcy Court for the
Eastern District of Texas will convene a hearing today, Sept. 22,
2014, at 9:30 a.m., to consider Sandy Golgart's motion for
reconsideration to alter or amend judgment related to orders on
confirmation of plans in the Bentley Premier Builders, LLC Chapter
11 case.

The Court entered on June 26, 2014, an order confirming the
Phillip M. Pourchot Revocable Trust and Starside, LLC Plan of
Reorganization, and an order denying Ms. Golgart's Plan of
Reorganization. The Pourchot Trust filed its notice of effective
date of the Joint Plan on July 11, 2014.

On July 10, 2014, Ms. Golgart filed her motion for reconsideration
of the Court's orders.  In her Motion, Ms. Golgart admits she is
seeking reconsideration only of certain specified findings and
conclusions, and not the Confirmation Orders themselves.
Ms. Golgart wants to alter or amend 53 portions of the Court's 62
Findings of Fact in Section III titled Factual Background.

On July 29, 2014, the Pourchot Trust, sole member of the
reorganized Debtor, filed a response to the motion, saying that
although Ms. Golgart is seeking to alter or amend the overwhelming
majority of the Court's findings, she has neglected to cite to any
portions of the record, including testimony or exhibits, in
support of her argument.  Ms. Golgart has not even ordered a
complete transcript to date.  She appears to be making new
arguments, rehashing prior arguments made, or reciting what she
wished the facts were.

A copy of the response to Ms. Golgart's motion is available for
free at http://is.gd/02DaGd

                       About Bentley Premier

Bentley Premier Builders, LLC, is a Texas limited liability
company in the business of selling high-end residential lots and
building high-quality luxury homes.  The Debtor owns and develops
lots, primarily in the two subdivisions known as Normandy Estates,
which straddles both Denton and Collin Counties, near the
intersection of Spring Creek Parkway and Midway Road in Plano, and
Wyndsor Pointe, which is located in Frisco off Stonebrook Parkway,
one-half mile west of the Dallas North Tollway.  The company has
100 vacant residential lots, with listing prices ranging from
$150,000 to $900,000.  In addition to these vacant lots, the
company owns a model house and an Amenities Center in Normandy
Estates, two houses in Wyndsor Pointe, some common areas and an
approximately 5-acre tract zoned for commercial use.

Bentley filed a Chapter 11 petition (Bankr. E.D. Tex. Case No.
13-41940) on Aug. 6, 2013 in Sherman, Texas.  The Debtor disclosed
$35,793,857 in assets and $30,428,782 in liabilities as of the
Chapter 11 filing.

The Phillip M. Pourchot Revocable Trust (led by co-trustee Phillip
M. Pourchot) and Sandy Golgart each hold a 50% member's interest
in the Debtor.  Ms. Golgart signed the bankruptcy petition.

The Debtor sought bankruptcy after Starside LLC, an entity owned
by Phillip Pourchot, acquired the note issued to Sovereign Bank
for a $7,250,000 loan, and served notice of its attempt to
foreclose upon properties securing the note.

Gerald P. Urbach, Esq., and Jason A. Katz, Esq., at Hiersche,
Hayward, Drakeley & Urbach, P.C., in Addison, Texas, serve as the
Debtor's counsel.

Judge Brenda Rhoades presides over the case.

A Chapter 11 trustee was appointed following motions filed by the
U.S. Trustee and the Pourchot Trust.  Jason R. Searcy, the Chapter
11 trustee, tapped to employ Joshua P. Searcy, Esq., at Searcy &
Searcy, P.C. as attorneys, and Gollob, Morgan, Peddy & Co., P.C.,
as accountants.

The deadline to file claims against and interest in the Debtor
was Dec. 5, 2013.  Governmental entities had until Feb. 3, 2014,
to file proofs of claim.

Golgart is represented by Mark A. Castillo, Esq., and Joshua L.
Shepherd, Esq., at Curtis | Castillo PC; and John T. Palter, Esq.,
and Kimberly M. J. Sims, Esq., at Palter Stokley Sims Wright PLLC.

The Pourchot Parties are represented by Mark E. Andrews, Esq., and
Aaron M. Kaufman, Esq., at Cox Smith Matthews Incorporated; and
Laura L. Worsham, Esq., and Lynn Schleiner, Esq., at Jones, Allen
& Fuquay, LLC.


BROWN MEDICAL: Trustee Hires PenChecks for 401K Plan Distribution
-----------------------------------------------------------------
Elizabeth Mr. Guffy, the Chapter 11 Trustee of Brown Medical
Center, Inc. seeks authorization from the Hon. Jeff Bohm of the
U.S. Bankruptcy Court for the Southern District of Texas to employ
PenChecks, Inc. as 401K Plan Distribution Processor.

The Trustee requires PenChecks to:

   (a) receive and hold in trust funds in the Debtor's 401K Plan;

   (b) contact the participants of the Debtor's 401K Plan to
       complete the appropriate documentation necessary to make
       distributions;

   (c) issue distribution payments to the participants;

   (d) file tax forms and reports related to the distributions;
       and

   (e) handle returned or non-negotiated distribution payments.

PenChecks has agreed to accept compensation on a per participant
basis.  Depending on the services rendered, PenChecks fee is $35
to $45 per participant along with other miscellaneous fees
described in the Statement of Services and Fees included in the
Client Agreement.  PenChecks has not received any funds from the
Debtor, the Trustee or any other party in this case.

The Trustee 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.

PenChecks can be reached at:

       PENCHECKS, INC.
       8580 La Mesa Blvd., Suite 101
       La Mesa, CA 91942
       Tel: (619) 462-9433
       Fax: (619) 462-1766

                        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.


BUCCANEER RESOURCES: Deadline to Confirm Plan Set for October 14
----------------------------------------------------------------
The deadline for Buccaneer Resources, LLC, et al., to confirm a
plan under Chapter 11 of the Bankruptcy Code under the Second
Interim Cash Collateral Order is extended to October 14, 2014.

The Debtors' right to use Cash Collateral as set forth in the
Second Interim Cash Collateral Order was set to expire on
September 16.

                     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: April 2021 Bank Debt Trades at 3% Off
------------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
96.66 cents-on-the-dollar during the week ended Friday, September
19, 2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.41 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 525 basis points
above LIBOR to borrow under the facility. The bank loan matures on
April 2, 2021, and carries Moody's B2 rating and Standard & Poor's
B+ rating.  The loan is one of the biggest gainers and losers
among 205 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.


CAESARS ENTERTAINMENT: September 2020 Bank Debt Trades at 3% Off
----------------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
96.95 cents-on-the-dollar during the week ended Friday, September
19, 2014, 2014, according to data compiled by LSTA/Thomson Reuters
MTM Pricing and reported in The Wall Street Journal.  This
represents a decrease of 0.54 percentage points from the previous
week, The Journal relates.  Caesars Entertainment Inc. pays 600
basis points above LIBOR to borrow under the facility. The bank
loan matures on Sept 24, 2020, and carries Moody's B2 rating and
Standard & Poor's CCC+ rating.  The loan is one of the biggest
gainers and losers among 205 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.


CAESARS ENTERTAINMENT: March 2017 Bank Debt Trades at 5% Off
------------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
95.20 cents-on-the-dollar during the week ended Friday, September
19, 2014, 2014, according to data compiled by LSTA/Thomson Reuters
MTM Pricing and reported in The Wall Street Journal.  This
represents a decrease of 0.38 percentage points from the previous
week, The Journal relates.  Caesars Entertainment Inc. pays 875
basis points above LIBOR to borrow under the facility. The bank
loan matures on March 1, 2017, and carries Moody's Caa2 rating and
Standard & Poor's CCC- rating.  The loan is one of the biggest
gainers and losers among 205 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.


CALIFORNIA COMMUNITY: Sept. 24 Hearing on Cash Collateral Use
-------------------------------------------------------------
California Community Collaborative Inc. asks the Hon. Christopher
M. Klein of the U.S. Bankruptcy Court for the Eastern District of
California to allow the Debtor to continue using cash collateral
consisting of rents collected from tenants at its two-storey
office building at 655 West 2nd Street, San Bernardino,
California, to py expenses incurred in connection with the real
property and the operation of its business for the period Oct. 1,
2014, through Dec. 31, 2014.

A hearing to consider the motion is set for Sept. 24, 2014, at
10:00 a.m.

The San Bernardino County Tax Collector and the California Bank
and Trust may assert a security interest in the Real Property,
which security interest may extend to the rents and profits from
the Real Property.

Space on the second floor of the Real Property is under lease to
the Judicial Council of California.  The lease extends to February
2018.  For the first floor, the Debtor has reached terms with the
Mexican Consulate for lease of space, with the term commencing
Jan. 1, 2015.  This lease has yet to be executed by appropriate
Consulate personnel in Mexico City, but the Debtor is informed
that the signature is being processed.  The Debtor has also
negotiated terms for lease-improvement financing.

The Debtor tells the Court that its use of cash collateral to pay
ongoing maintenance and for needed repairs, utilities, and other
expenses is necessary to help assure continued collection of rents
from the existing tenant, and to finalize the lease with the
Mexican Consulate.  The increased rental income can be used to
fund a Plan of Reorganization.  Cash from rents received by the
Debtor post-petition may be considered cash collateral.  By using
cash collateral to maintain the Real Property and to maintain its
business operations, the Debtor will maximize the value of its
assets and business.

The Secured Creditors' respective interests will be adequately
protected.  Among the expenses set forth is a payment to the Tax
Collector, which is the regular post-petition tax installment due
for the Real Property.  The Debtor will also make adequate
protection payments to the Bank in the same amount as approved by
the Court under the current cash collateral order.

As reported by the Troubled Company Reporter on Sept. 5, 2014, the
Debtor sought court approval for its stipulation with the Bank
allowing the Debtor's use of cash collateral until the end of
September.  Under the stipulation, no later than Aug. 15, 2014,
and again no later than Sept. 15, 2014, the Debtor will pay the
Bank, from the segregated account, the sum of $31,500.  This
turnover of rents is intended as adequate protection for the
Bank's interest in the Debtor's property and the cash collateral.

The Bank will be granted a replacement lien and security interest
in and to all assets to which its prepetition lien would have
attached but for the filing of the Debtor's bankruptcy case.

                    About California Community

California Community Collaborative, Inc., filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-26351) on
June 17, 2014.  Merrell G. Schexnydre, the company's president,
signed the petition.  The Debtor estimated assets of at least
$10 million and liabilities of $1 million to $10 million.  The
Debtor is represented by Meegan, Hanschu & Kassenbrock.  Judge
Christopher M. Klein presides over the case.


CALIFORNIA COMMUNITY: Hearing to Consider Plan Outline on Oct. 29
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
will hold on Oct. 29, 2014, at 10:00 a.m. the hearing to consider
the approval of the Disclosure Statement in support of California
Community Collaborative Inc.'s Plan of Reorganization.

The Plan provides that the Debtor will deposit post-confirmation
rents into a specific Creditor Account and will make disbursements
to claim holders, including with priority the holders of claims
with a security interest in the rents, from that account.

To fund disbursements to claim holders under the Plan, the Debtor
is to continue to operate its business and to lease space at its
office building at 655 West 2nd Street, San Bernardino,
California, over a period of approximately three years following
the confirmation date, and is to use net rental income to fund
disbursements to claim holders under the Plan.  The Debtor will
sell or refinance the Real Property, and net proceeds after
payment of claims secured by the Real Property will be used to pay
in full all allowed claims secured by the Real Property and to
fund distributions under the Plan, including to the holders of
Class 4 allowed claims.  The disbursements will be completed by
Oct. 2017.

Under the Plan, priority unsecured claims are unimpaired and will
be paid in full with applicable post-petition interest, on or
before the effective date of the Plan.

The $147,389 in secured claim of San Bernardino County Tax
Collector will be paid in full with interest, while the
$9.53 million in secured claim of California Bank & Trust will
bear interest at the rate of 5.5% per year from the confirmation
date.  Up to the confirmation date, the Debtor must make adequate-
protection payments to the Bank.  Beginning Feb. 15, 2015, and the
15th day of each month thereafter until the claim is paid in full,
the the Debtor will pay the Bank the amount of $43,083.33
consisting of interest only on the claim.

As of the confirmation date, (i) the lease with the Judicial
Council of California will be deemed assumed, and the claim will
be unimpaired; (ii) the contract with Amtech Elevator Services
will be deemed assumed, and the Debtor will, within six months of
the effective date, cure all monetary and other defaults under the
lease existing as of the confirmation date; and (iii) the contract
with All American Alliance Guard Servs., Inc., will be deemed
assumed, and the claim will be unimpaired.

Claims of general unsecured creditors are to receive a
distribution of 100% of their allowed claims, with interest, to be
distributed through twice-annual disbursements over a period of no
more than approximately three years.

Equity interest holder Merrell Schexnydre will retain his interest
in the Debtor.

The Debtor will be authorized to maintain and conduct its normal
business post-confirmation.

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

                        http://is.gd/8e2JaE

                    About California Community

California Community Collaborative, Inc., filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-26351) on
June 17, 2014.  Merrell G. Schexnydre, the company's president,
signed the petition.  The Debtor estimated assets of at least
$10 million and liabilities of $1 million to $10 million.  The
Debtor is represented by Meegan, Hanschu & Kassenbrock.  Judge
Christopher M. Klein presides over the case.


CARIBBEAN PRODUCE: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Caribbean Produce Inc.
        1360 Lafayette Avenue
        Bronx, New York

Case No.: 14-12668

Nature of Business: Foods distributor

Chapter 11 Petition Date: September 19, 2014

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Jonathan S. Bodner, Esq.
                  RUSKIN MOSCOU FALTISCHEK, P.C.
                  East Tower, 15th Floor
                  1425 RXR Plaza
                  Uniondale, NY 11556-1425
                  Tel: (516) 663-6686
                  Fax: (516) 663-6886
                  Email: jbodner@rmfpc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

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


CLUB AT SHENANDOAH: Seeks Bookkeeping Services From Western Golf
----------------------------------------------------------------
The Club at Shenandoah Springs Village Inc. asks the U.S.
Bankruptcy Court for the Central District of California for
authority to enter a consulting services agreement with its former
on-site management company, Western Golf Properties LLC, wherein
the firm will provide the Debtor certain discrete bookkeeping and
reporting services for the sum of $4,000 per month.

Specifically, the firm will:

  a) reconcile and prepare monthly income statement, month-end
     balance sheet and all supporting schedules;

  b) respond to governmental compliance and or taxing authority
     information request; and

  c) prepare year-end income tax preparation schedules where
     necessary.

The Debtor agrees to pay the firm $4,000 per month due at the
execution date of the contract and the first day of each
subsequent month as follows:

  a) $2,000 will be the amount allocated for all bookkeeping
     services;

  b) $1,500 will be the amount allocated to the financial
     reporting and month operating report services; and

  c) $500 will be the amount allocated for the monthly operating
     results meetings.

The firm can be reached at:

   Western Golf Properties LLC
   One Spectrum Pointe Drive, Suite 310
   Lake Forest, CA 92630
   Tel: 949-417-3251
   Fax: 949-417-3256
   Email: wgpgeneral@wgolfp.com

           About The Club at Shenandoah Springs Village

The Club at Shenandoah Springs Village, Inc., owns The Club At
Shenandoah Springs Village, a golf and leisure resort in Thousand
Palms, a desert region of central California.  It filed for
Chapter 11 protection (Bankr. C.D. Cal. Case No. 12-36723) on
Dec. 3, 2012.  The Debtor estimated both assets and liabilities of
between $10 million and $50 million.  Judge Mark D. Houle presides
over the case.  Daniel A. Lev, Esq., and Steven Worth, Esq., at
SulmeyerKupetz, in Los Angeles, Calif., represent the Debtor as
counsel.


COLOR STAR: Barrier Delays Filing Demand for Arbitration
--------------------------------------------------------
NexBank Securities, Inc. dba NexBank Capital Advisors fka Barrier
Advisors, will not file a demand for or otherwise pursue
arbitration against the Debtors until after the effective date of
Color Star Growers Of Colorado, Inc., et al.'s First Amended Joint
Plan of Liquidation.

On Sept. 17, 2014, the Hon. Branda T. Rhoades of the U.S.
Bankruptcy Court for the Eastern District of Texas entered an
agreed order approving the stipulation among the Debtors and
Barrier, resolving the motion of Barrier for confirmation that the
automatic stay does not prohibit Barrier from filing an
arbitration demand.  If Barrier files a demand for arbitration
within five days of Barrier's receiving formal notice of the
effective date's occurrence, then the demand will be deemed to
have been filed immediately after the Plan became effective.

On Aug. 25, 2014, Barrier filed its motion for confirmation that
the automatic stay does not prohibit Barrier from filing an
arbitration demand.  On Sept. 8, 2014, the Court heard and
considered the stipulation of the Debtors and Barrier resolving
the arbitration motion, which agreement was consented to by
Regions Bank.  The Debtors, Regions Bank, and Barrier agreed that
a proposed order would be submitted to the Court memorializing the
terms of the stipulation that addressed both the arbitration
motion, and avoided anticipated objections to the Plan by Barrier.
Barrier's objections to the Plan were partially continued within
its objection to the Debtors' emergency motion to continue
hearing.

On Sept. 11, 2014, with the consent of the Debtors and Regions
Bank, Barrier uploaded to the Court's ECF System the agreed order
and its Stipulation with the Debtors resolving Barrier's motion
for confirmation that the automatic stay does not prohibit Barrier
from filing an arbitration demand.

Barrier withdrew on Sept. 17, 2014, its reservation of rights to
the Plan.  Barrier filed on Sept. 15, 2014, its reservation of
rights with respect to the Plan, saying that it expected that the
Court would enter a resolution order in due course.

Barrier is represented by:

      Cole, Schotz, Meisel, Forman & Leonard, P.A.
      Michael D. Warner, Esq.
      301 Commerce Street, Suite 1700
      Fort Worth, Texas 76102
      Tel: (817) 810-5250
      Fax: (817) 810-5255
      E-mail: mwarner@coleschotz.com

As reported by the Troubled Company Reporter on Aug. 15, 2014, the
Court conditionally approved the Disclosure Statement dated Aug.
5, 2014, explaining the Debtor's Plan.  The Court also said that
final approval of the Disclosure Statement will be combined with
the hearing on plan confirmation scheduled for Sept. 22, 2014 at
3:30 p.m.

According to the Disclosure Statement, the Plan is designed to
accomplish the further liquidation of the Debtors' estates and
provides a mechanism for the distribution of the proceeds of
liquidation to beneficiaries of the estates.  The Plan provides
for the creation two trusts: The Color Star Liquidation Trust and
the Color Star Litigation Trust.

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

           http://bankrupt.com/misc/COLORSTAR_432_ds.pdf

                         About Color Star

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

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

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

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


COMMUNITY HOME: Court Grants MidFirst's Motion to Lift Stay
-----------------------------------------------------------
The Hon. Edward Ellington of the U.S. Bankruptcy Court for the
Southern District of Mississippi has entered an agreed order
lifting the automatic stay to allow MidFirst Bank to pursue
remedies and to initiate foreclosure proceedings against certain
property of Community Home Financial Services, Inc.'s estate.

The Bank stated in a court filing dated July 30, 2014, that
sufficient cause exists for the termination, annulment or
modification of the automatic stay because of the delinquency of
the mortgagors and because there is no equity in the property for
the benefit of the estate.

On Aug. 3, 2004, Dale R. Curry and Cyndi D. Curry executed a
certain mortgage note and mortgage in favor of Mortgage Electronic
Registration Systems, Inc., solely as nominee for Irwin Mortgage
Corporation, its successors and assigns and secured by this real
property: the east 100.00 feet of lots 8 and 9 in block 22 as
designated upon the re-plat of Grant Park Subdivision, situated in
the county of Winnebago and state of Illinois.  Upon information
and belief, the Debtor holds a second and subordinate lien as to
this property.  An appraisal of the property was performed at the
Bank's request and expense and the property was valued at $19,900.

The Note and Mortgage were subsequently assigned to the Bank.
According to the Bank, the loan is now due and owing for the June
2013 payment and all subsequent payments to the Bank.  As of
July 30, 2014, Debtor is delinquent in post-petition payments in
the amount of $11,477.67, plus all payments and charges that
accrue hereafter.  The monthly payment is $561.41.  The principal
balance is $58,928.78.

The Bank is represented by:

      Shapiro & Massey, LLC
      J. Gary Massey, Esq.
      Evan J. Lundy, Esq.
      1080 River Oaks Drive, Suite B-202
      Flowood, MS 39232
      Tel: (601) 981-9299
      Fax: (601) 981-9288
      E-mail: msbankruptcy@logs.com

                      About Community Home

Community Home Financial Services, Inc., filed a Chapter 11
petition (Bankr. S.D. Miss. Case No. 12-01703) on May 23, 2012.
Community Home Financial is a specialty finance company located in
Jackson, Mississippi, providing contractors with financing for
their customers.  CHFS operates from one central location
providing financing through its dealer network throughout 25
states, Alabama, Delaware, and Tennessee.  The Debtor scheduled
$44,890,581 in total assets and $30,270,271 in total liabilities.
Judge Edward Ellington presides over the case.

The Debtor was first represented by Roy H. Liddell, Esq., and
Jonathan Bissette, Esq., at Wells, Marble, & Hurst, PPLC as
Chapter 11 counsel.  Wells Marble was terminated Nov. 13, 2013.
The Debtor is now being represented by Derek A. Henderson, Esq.,
in Jackson, Miss.  In 2013, the Debtor sought to employ David
Mullin, Esq., at Mullin Hoard & Brown LLP, as special counsel.

On Aug. 8, 2013, the Court approved the Disclosure Statement
explaining the Debtor's Plan of Reorganization dated Jan. 29,
2013.


COMMUNITY HOME: Bank of America Seeks Relief From Stay
------------------------------------------------------
Bank of America, N.A., asks the Hon. Edward Ellington of the U.S.
Bankruptcy Court for the Southern District of Mississippi to lift
the automatic stay to permit the Secured Creditor to proceed to a
foreclosure sale of Community Home Financial Services, Inc.'s
property generally described as 7303 NW Roanridge Circle, Platte
Woods, Missouri 64151, including necessary action to obtain
possession of the Property.

The Secured Creditor is the current payee of promissory note dated
Sept. 23, 2009, in the principal amount of $244,615 secured by a
first deed trust of the same date upon the Property.  The Secured
Creditor was assigned the beneficial interest in the Deed of Trust
by an assignment of deed of trust recorded Dec. 31, 2012.  Marlene
R. Koppe, the original borrower on the Note and Deed of Trust held
by the Secured Creditor, initiated a UCC Financing Statement in
favor of the Debtor.

As holder of the Deed of Trust on the Property, the Secured
Creditor intends to foreclose against the borrower, Ms. Koppe.

The Secured Creditor alleges that it is not adequate protected,
that there is no equity available in the Property, that the
Property is not necessary to effectuate the Debtor's
rehabilitation, and that it would be unfair and inequitable to
delay the Secured Creditor in the foreclosure of the Secured
Creditor's interest.

The Secured Creditor is represented by:

      Henley, Lotterhos & Henley
      Matthew A. Davis, Esq.
      P.O. Box 389
      1910 Lakeland Drive, Suite D
      Jackson, Mississippi 39205
      Tel: (601) 948-5131
      Fax: (601) 353-4633

                and

      Prober & Raphael, A Law Corporation
      P.O. Box 4365
      Woodland Hills, California 91365-4365
      Tel: (818) 227-0100

                      About Community Home

Community Home Financial Services, Inc., filed a Chapter 11
petition (Bankr. S.D. Miss. Case No. 12-01703) on May 23, 2012.
Community Home Financial is a specialty finance company located in
Jackson, Mississippi, providing contractors with financing for
their customers.  CHFS operates from one central location
providing financing through its dealer network throughout 25
states, Alabama, Delaware, and Tennessee.  The Debtor scheduled
$44,890,581 in total assets and $30,270,271 in total liabilities.
Judge Edward Ellington presides over the case.

The Debtor was first represented by Roy H. Liddell, Esq., and
Jonathan Bissette, Esq., at Wells, Marble, & Hurst, PPLC as
Chapter 11 counsel.  Wells Marble was terminated Nov. 13, 2013.
The Debtor is now being represented by Derek A. Henderson, Esq.,
in Jackson, Miss.  In 2013, the Debtor sought to employ David
Mullin, Esq., at Mullin Hoard & Brown LLP, as special counsel.

On Aug. 8, 2013, the Court approved the Disclosure Statement
explaining the Debtor's Plan of Reorganization dated Jan. 29,
2013.


CRS HOLDING: Hearing on Cash Collateral Motion Set for Sept. 29
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
entered an interim order scheduling hearing on CRS Holding of
America, LLC, and its debtor affiliates' emergency motion to use
cash collateral.  The hearing is scheduled for September 29, 2014,
at 1:30 p.m.

The Debtors are seeking approval from the Court to use cash
collateral of their prepetition secured creditors.

                  About CRS Holding of America

CRS Holding of America, LLC, operates a full service electronics
recycling business, providing e-waste recycling solutions for
organizations of all sizes.  CRS's offerings are designed to meet
customers' demand for data security and environmental compliance.

CRS Holding and 21 subsidiaries sought Chapter 11 protection
(Bankr. M.D. Fla. Case No. 14-bk-10142) in Tampa, Florida, on
August 29, 2014.

CRS estimated total assets of $50 million to $100 million and debt
of $10 million to $50 million.  The Debtors' outstanding loan
balances to secured creditors are: Regions Bank, $15 million; JY
Creative Holdings, Inc. $6.8 million; and Intersection, LLC,
$250,000.  The Debtors estimate that general unsecured claims
total $5 million.

The cases are assigned to Judge K. Rodney May.

The Debtors have tapped Shumaker, Loop & Kendrick, LLP, as
counsel.


CRS HOLDING: Responds to Secured Creditors' Motion to Dismiss
-------------------------------------------------------------
CRS Holding of America, LLC, and its debtor affiliates ask the
U.S. Bankruptcy Court for the Middle District of Florida to deny
JY Creative Holdings, Inc.'s motion to dismiss their bankruptcy
cases.

The Chapter 11 cases were filed by Robert Swett, as receiver.

JY Creative is a secured and unsecured creditor of the Debtors, a
member of the board of directors, and a stockholder.  It argued
that the appointment of a receiver does not deprive the corporate
directors of the power to file a bankruptcy petition.  JY Creative
further asserted that the Receiver is not a substitute director
and is not the corporation, and the filing of the bankruptcy
petition must have the effect of terminating the receivership.

Jay B. Verona, Esq., at Shumaker, Loop & Kendrick, LLP, in Tampa,
Florida -- bdebeaubien@slk-law.com -- contends that the Debtors'
bankruptcy cases were filed in accordance with state law and the
Debtors' governing documents, and, moreover, with the
authorization of the District Court.  He insists that the Receiver
had the authority to file voluntary petitions in bankruptcy on
behalf of the CRS Entities.

                  About CRS Holding of America

CRS Holding of America, LLC, operates a full service electronics
recycling business, providing e-waste recycling solutions for
organizations of all sizes.  CRS's offerings are designed to meet
customers' demand for data security and environmental compliance.

CRS Holding and 21 subsidiaries sought Chapter 11 protection
(Bankr. M.D. Fla. Case No. 14-bk-10142) in Tampa, Florida, on
August 29, 2014.

CRS estimated total assets of $50 million to $100 million and debt
of $10 million to $50 million.  The Debtors' outstanding loan
balances to secured creditors are: Regions Bank, $15 million; JY
Creative Holdings, Inc. $6.8 million; and Intersection, LLC,
$250,000.  The Debtors estimate that general unsecured claims
total $5 million.

The cases are assigned to Judge K. Rodney May.

The Debtors have tapped Shumaker, Loop & Kendrick, LLP, as
counsel.


CRS HOLDING: Says Receiver Has Authority to File Ch. 11 Case
------------------------------------------------------------
Sherri Toub, a bankruptcy columnist for Bloomberg News, reported
that CRS Holding of America LLC objection to a motion to dismiss
its case, saying the receiver appointed by a Florida district
court prior to its bankruptcy filing had "ample" authority to file
for bankruptcy on the company's behalf.  To recall, the U.S.
Trustee complained that the scheme of the Bankruptcy Code is
"hostile" to the concept of a receiver in bankruptcy, and a
Chapter 11 trustee would better serve the estate's interests, and
JY Creative Holdings Inc., a creditor, said the receiver wasn't
authorized to file the bankruptcy cases because the authority
rests solely with the company's board.

                   About CRS Holding of America

CRS Holding of America, LLC, operates a full service electronics
recycling business, providing e-waste recycling solutions for
organizations of all sizes.  CRS's offerings are designed to meet
customers' demand for data security and environmental compliance.

CRS Holding and 21 subsidiaries sought Chapter 11 protection
(Bankr. M.D. Fla. Case No. 14-bk-10142) in Tampa, Florida, on Aug.
29, 2014.

CRS estimated total assets of $50 million to $100 million and debt
of $10 million to $50 million.  The Debtors' outstanding loan
balances to secured creditors are: Regions Bank, $15 million; JY
Creative Holdings, Inc. $6.8 million; and Intersection, LLC,
$250,000.  The Debtors estimate that general unsecured claims
total $5 million.

The cases are assigned to Judge K. Rodney May.

The Debtors have tapped Shumaker, Loop & Kendrick, LLP, as
counsel.


CTI BIOPHARMA: Inks EUR103 Million License Agreement With Servier
-----------------------------------------------------------------
CTI BioPharma Corp. and Servier jointly announced that they have
entered into an exclusive license and collaboration agreement to
develop and commercialize PIXUVRI(R) (pixantrone) in a transaction
valued at up to EUR103 million (approximately $133.5 million) if
all milestones are achieved.  Under the agreement, CTI retains
full commercialization rights for PIXUVRI in Austria, Denmark,
Finland, Germany, Israel, Norway, Sweden, Turkey, the United
Kingdom and the U.S., with Servier having exclusive rights to
commercialize PIXUVRI in all other countries.

PIXUVRI is conditionally approved in the European Union for
patients with aggressive B-cell non-Hodgkin lymphoma (NHL) who
failed two or three prior lines of therapy.  PIXUVRI is the first
monotherapy treatment option for this patient group and the only
therapy licensed for third and fourth line use in aggressive B-
cell NHL patients, which includes diffuse large B-cell lymphoma
(DLBCL).  As of this announcement, PIXUVRI was available in 11
countries and has achieved reimbursement decisions under varying
conditions in England/Wales, Italy, France, Germany and the
Netherlands.  Under the terms of the agreement, CTI will receive
an upfront payment of EUR14 million (approximately $18.1 million)
and is eligible to receive additional sales, clinical and
regulatory milestone payments, as well as royalties on sales, such
royalty payments being subject to certain reductions.

"We believe Servier represents the ideal strategic partner to
achieve the full potential of PIXUVRI, particularly in those
regions of the world where CTI does not currently have, or plan to
have a presence," said James A. Bianco, M.D., president and CEO of
CTI.  "Our two companies share a vision for bringing PIXUVRI to
patients and believe this collaboration will not only maximize the
development, commercialization and market potential of PIXUVRI,
but will also help accelerate potential development expansion into
new indications.  We believe Servier's development expense
contributions could help us achieve a net positive contribution
margin for PIXUVRI this year and profitability in 2015 and
beyond."

"Servier is conducting a comprehensive chemistry and biology
research program in the field of oncology with the aim to develop
and bring novel effective therapies to patients with cancer," said
Jean Pierre Abastado, Head of the Oncology Therapeutic Innovation
Center at Servier.  "In addition, Servier has entered into several
scientific collaborations with Academic Institutions as well as a
number of other partnerships in the field of oncology and
hematology.  This new partnership will nicely fit within Servier's
portfolio by bringing an immediate therapeutic solution for
patients suffering from aggressive B-cell non-Hodgkin lymphoma
(NHL) who failed two or three prior lines of therapy."

"This partnership around PIXUVRI will also enable Servier to build
its hemato-oncology capabilities for market access and medical
information in many countries, thereby preparing for the arrival
of an extensive portfolio of innovative treatments that are
currently in clinical development," said Pascal Touchon, vice
president scientific collaboration and business development at
Servier.

Additional information is available at http://is.gd/gPT3g9

                         About CTI BioPharma

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) --
http://www.ctibiopharma.com/-- formerly known as Cell
Therapeutics, Inc., is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
The Company has a commercial presence in Europe and a late-stage
development pipeline, including pacritinib, CTI's lead product
candidate that is currently being studied in a Phase 3 program for
the treatment of patients with myelofibrosis.  CTI BioPharma is
headquartered in Seattle, Washington, with offices in London and
Milan under the name CTI Life Sciences Limited.

Cell Therapeutics reported a net loss attributable to common
shareholders of $49.64 million in 2013, a net loss attributable to
common shareholders of $115.27 million in 2012 and a net loss
attributable to common shareholders of $121.07 million in 2011.

The Company's balance sheet at June 30, 2014, showed $55.25
million in total assets, $40.68 million in total liabilities,
$7.89 million in common stock purchase warrants and $6.68 million
in total shareholders' equity.

                            Going Concern

"Our independent registered public accounting firm included an
explanatory paragraph in its reports on our consolidated financial
statements for each of the years ended December 31, 2007 through
December 31, 2011 regarding their substantial doubt as to our
ability to continue as a going concern.  Although our independent
registered public accounting firm removed this going concern
explanatory paragraph in its report on our  December 31, 2012
consolidated financial statements, we expect to continue to need
to raise additional financing to develop our business and satisfy
obligations as they become due.  The inclusion of a going concern
explanatory paragraph in future years may negatively impact the
trading price of our common stock and make it more difficult, time
consuming or expensive to obtain necessary financing, and we
cannot guarantee that we will not receive such an explanatory
paragraph in the future," the Company said in its annual report
for the year ended Dec. 31, 2013.

The Company also said it may not be able to maintain its listings
on The NASDAQ Capital Market and the MTA in Italy, or trading on
these exchanges may otherwise be halted or suspended.

"Maintaining the listing of our common stock on The NASDAQ Capital
Market requires that we comply with certain listing requirements.
We have in the past and may in the future fail to continue to meet
one or more listing requirements."

                          Bankruptcy Warning

"We have acquired or licensed intellectual property from third
parties, including patent applications and patents relating to
intellectual property for PIXUVRI, pacritinib and tosedostat.  We
have also licensed the intellectual property for our drug delivery
technology relating to Opaxio, which uses polymers that are linked
to drugs known as polymer-drug conjugates.  Some of our product
development programs depend on our ability to maintain rights
under these licenses.  Each licensor has the power to terminate
its agreement with us if we fail to meet our obligations under
these licenses.  We may not be able to meet our obligations under
these licenses.  If we default under any license agreement, we may
lose our right to market and sell any products based on the
licensed technology and may be forced to cease operations,
liquidate our assets and possibly seek bankruptcy protection.
Bankruptcy may result in the termination of agreements pursuant to
which we license certain intellectual property rights," Cell
Therapeutics stated in the 2013 Annual Report.


D.A.B. GROUP: Orchard Hotel Balks at Employment of Professionals
----------------------------------------------------------------
Orchard Hotel LLC, secured creditor of D.A.B. Group LLC, objected
to the Debtor's request to employ Massey Knakal Realty Services as
its real estate broker, and Goldberg Weprin Finkel Goldstein LLP
as its counsel

According to the secured creditor, the Debtor is indebted in an
amount in excess of $29 million on account of funds borrowed to
construct a hotel at 139-141 Orchard Street in New York, New York.
The hotel was never completed.  The Debtor failed to replay notes
upon maturity.  The secured creditor said it commenced a
foreclosure action.

The secured creditor noted the foreclosure proceedings were
nearing their end.  Realizing that a foreclosure judgment was
forthcoming, the Debtor commenced its Chapter 11 case to delay the
inevitable loss of its property, the secured creditor pointed out.

Orchard Hotel stated the Debtor's sole business is the ownership
of DAB property that consists of two contiguous parcels of real
property and a real partially built 16-story hotel.  The Debtor
concedes that it has no cash and has no cash flow.  There is
likely little to no equity in these properties, and a significant
investment would be required in order to complete the construction
and open the hotel.

Orchard Hotel argued that it is critical that the Debtor's counsel
in this case be independent.  It is not in the best interest of
the estate for GWF to be retained as counsel to the Debtor.

Orchard Hotel retained as counsel:

  Joseph T. Moldovan, Esq.
  Robert K. Dakis, Esq.
  MORRISON COHEN LLP
  909 Third Avenue
  New York, NY 10022
  Tel: (212) 735-8600
  Fax: (212) 735-8708
  Email: jmoldovan@morrisoncohen.com
         rdakis@morrisoncohen.com

                         About DAB Group

D.A.B. Group LLC, owner of a stalled 16-story Allen Street Hotel
project in Orchard Street, New York, sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 14-12057) in Manhattan on July 14, 2014,
to pursue a prompt sale of the property.  The case is assigned to
Judge Shelley C. Chapman.

The property has been in the hands of a receiver since July 18,
2011.  Simon J.K. Miller, of Blank Rome LLP, serves as receiver.

J. Ted Donovan, Esq., at Goldberg Weprin Finkel Goldstein LLP, in
New York, serves as counsel to the Debtor.

DAB Group said in a court filing that its property is continguous
to the commercial property owned by its affiliate, 77-79 Rivington
Street Realty LLC (Bankr. S.D.N.Y. Case No. 14-10339).
Accordingly, DAB's Chapter 11 case is being filed as a related
proceeding.

The Debtor is required to file its Chapter 11 plan and disclosure
statement by Nov. 12, 2014.


DETROIT, MI: Bankruptcy Judge to Hear Water Shutoff Dispute
-----------------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that
U.S. Bankruptcy Judge Steven Rhodes in Michigan is scheduled to
hear arguments from lawyers for Michigan Welfare Rights
Organization and several Detroit residents and lawyers
representing the city on disputes over proposed water shut offs.

According to the report, the organization, which helps low-income
workers, filed a lawsuit seeking injunction on the plan of the
city's water department to shut off delinquent residents.  The
city filed a motion to dismiss the lawsuit, the report related.

                  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.


DEWEY & LEBOEUF: Ex-Controller Reaches Partial Deal With SEC
------------------------------------------------------------
Law360 reported that former Dewey & LeBoeuf LLP controller Thomas
Mullikin has reached a partial settlement with the U.S. Securities
and Exchange Commission that would resolve his liability in the
agency's suit over the firm's collapse while leaving open the
issue of a potential disgorgement order or fine, according to
court filings.  The report related that SEC attorney William
Finkel submitted a letter to U.S. District Judge Valerie E.
Caproni along with a consent order dated July 24 and a proposed
judgment that would permanently enjoin Mullikin from violating the
federal securities regulation.

The case is Securities and Exchange Commission v. Davis et al.,
Case No. 1:14-cv-01528 (S.D.N.Y.).

                      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.


DEWEY & LEBOEUF: Court Lacks Jurisdiction Over Suit by Partner
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Andrew L. Carter, Jr., in
Manhattan, ruled that his court lacks subject matter jurisdiction
over a lawsuit by a former partner at Dewey & LeBoeuf LLP trying
to fend off liability on a $540,000 bank loan taken down as a
capital contribution before the law firm went into bankruptcy.
According to the report, Judge Carter wasn't persuaded to find
jurisdiction even though four of the firm's senior managers were
also defendants on claims for fraud and negligent representation.

The case is McMillan v. Barclays Bank Plc., 13-bk-01095, U.S.
District Court, Southern District of New York (Manhattan).

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DEX MEDIA EAST: Bank Debt Trades at 14% Off
-------------------------------------------
Participations in a syndicated loan under which Dex Media East LLC
is a borrower traded in the secondary market at 86.25 cents-on-
the-dollar during the week ended Friday, September 19, 2014
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 0.35 percentage points from the previous week, The Journal
relates.  Dex Media East LLC pays 250 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Oct. 24,
2016.  The bank debt carries is not rated by Moody's rating and
Standard & Poor's rating.  The loan is one of the biggest gainers
and losers among 212 widely quoted syndicated loans with five or
more bids in secondary trading for the week ended Friday.


DREIER LLP: Ex-McCarthy Atty Cites Privilege In $1.4M Fee Row
-------------------------------------------------------------
Law360 reported that a former Diamond McCarthy LLP partner told a
Texas state court that the firm is attempting to bypass the
attorney-client privilege by forcing impermissible discovery in a
$1.4 million breach of contract suit over fees she generated as
Dreier LLP's Chapter 11 trustee.  According to the report, Sheila
M. Gowan argued in a motion for protection filed in Harris County
district court that Diamond McCarthy's effort to prove the court's
personal jurisdiction over her through the use of records relating
to Dreier's bankruptcy should be rejected.

               About Marc Dreier and Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.  On Dec. 8, 2008, the U.S.
Securities and Exchange Commission filed a suit, alleging that Mr.
Dreier made fraudulent offers and sales of securities in several
cities, selling fake promissory notes to hedge and other private
investment funds.  The SEC asserted that Mr. Dreier also
distributed phony financial statements and audit opinions, and
recruited accomplices in connection with that scheme.  Mr. Dreier,
currently in prison, was charged by the U.S. government for
conspiracy, securities fraud and wire fraud (S.D.N.Y. Case No.
09-cr-00085).

Dreier LLP sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.

Sheila M. Gowan, a partner with Diamond McCarthy, was appointed
Chapter 11 trustee for the Dreier law firm.  Ms. Gowan is
represented by Diamond McCarthy LLP.  Dickstein Shapiro LLP is the
trustee's special trial counsel.

Wachovia Bank National Association; the Dreier LLP Chapter 11
Trustee; and Steven J. Reisman as post-confirmation representative
of the bankruptcy estate of 360networks (USA) Inc. signed a
petition that put Mr. Dreier into bankruptcy under Chapter 7 on
Jan. 26, 2009 (Bankr. S.D.N.Y. Case No. 09-10371).  Mr. Dreier
pleaded guilty to fraud and other charges in May 2009.  The
scheme to sell $700 million in fake notes unraveled in late 2008.
Mr. Dreier is serving a 20-year sentence in a federal prison in
Minneapolis.

The May 15, 2014, edition of The Troubled Company Reporter said
the Hon. Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York confirmed the second amended Chapter
11 plan of liquidation filed by Sheila M. Gowan, the Chapter 11
trustee for Dreier LLP, and the Official Committee of Unsecured
Creditors.


DIOCESE OF GALLUP: Has Until May 2015 to File a Chapter 11 Plan
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the Diocese of Gallup, New Mexico, retained
exclusive rights to file a Chapter 11 plan until May 12, 2015,
after a bankruptcy judge in Albuquerque, New Mexico, granted the
diocese's second request to extend its exclusive periods.
According to the report, as to the Official Committee of Unsecured
Creditors, exclusivity is extended piecemeal, with the first
extension through Dec. 8.  If the panel doesn't provide written
notice to the diocese by Nov. 7, the committee's exclusivity
period will be extended automatically through March 9, the report
said, citing the court order.  Then, if the committee doesn't give
written notice by Jan. 5, the diocese's exclusivity period will be
extended automatically through May 12, the report further related.

                  About the Diocese of Gallup, NM

The Diocese of Gallup, New Mexico, principally encompasses
American Indian reservations for seven tribes in northwestern New
Mexico and northeastern Arizona. It is the poorest diocese in the
U.S.

There are 38 active priests working in the Diocese and 27
permanent deacons also serve the Diocese along with five
seminarians.  The Diocese and its missions, schools and ministries
employ approximately 50 people, and a significant number of
additional people offer their services as volunteers.

The diocese sought bankruptcy protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 13-bk-13676) on Nov. 12,
2013, in Albuquerque, New Mexico amid suits for sexual abuse
committed by priests.

The bishop previously said bankruptcy will be "the most merciful
and equitable way for the diocese to address its responsibility."

The abuse mostly occurred in the 1950s and early 1960s, the bishop
said.

The petition shows assets and debt both less than $1 million.

The Diocese of Gallup is the ninth Catholic diocese to seek
protection in Chapter 11 bankruptcy.


EFUSION SERVICES: Fights John Dorsey et al.'s Dismissal Motion
--------------------------------------------------------------
eFusion Services, LLC, asks the U.S. Bankruptcy Court for the
District of Colorado to deny creditors John Dorsey, Thomas McCann
and Anthony Maley 's motion to dismiss its Chapter 11 case, as
dismissal would not be in the best interests of the creditors and
the estate.

As reported by the Troubled Company Reporter on Sept. 12, 2014,
the Creditors said dismissal is warranted because they alleged the
bankruptcy case was filed in bad faith.  The primary consideration
of bad faith, among others, is the withdrawal on the issue of
mismanagement of the EPS Entities by Messrs. Dorsey and McCann at
the trial.  The creditors allege that in the first eight months of
the bankruptcy case, the Debtor has provided eight different
combination of reasons for the filing of the bankruptcy
proceeding.  Some considerations were also taken by the creditors
of the evident bad faith of the Debtor.  Among them, the Debtor
has only one asset, has only a few unsecured creditors and has no
employees.

The Debtor claims in a court filing dated Sept. 2, 2014, that the
Creditors have submitted no evidence of Debtor's bad faith.  The
Debtor says that the Creditors start out their Aug. 18, 2014
closing brief by setting forth self-serving hyperbole in stating
their conclusion that this is "a bad faith filing" filed for the
purpose of gaining "improper leverage" and to benefit insiders.
The Debtor says that evidence it will set forth at the evidentiary
hearing "showed no such thing and that, in fact, it was MDM's
'bad-faith' dealings with the Debtor that led to the instant
filing, and should lead to the Court's denial of MDM's motion to
dismiss."

The Creditors, according to the Debtor, appear to argue that
Debtor either is changing its mind or perhaps doesn't know why it
filed because the Debtor cited various reasons at various times.
"Either argument is not supportable by any case law or any portion
of the Code, and as such, should be given no weight.  Debtor's
representative, under oath, clearly articulated its reasons for
filing, despite MDM's counsel's attempts to trip him up," the
Debtor says.

The Debtor says that it owns the EPS Entities until and unless
Messrs. McCann and Dorsey foreclose their interest in the stock
and membership interests they sold, which, to date, they have not
done.

                    About eFusion Services LLC

eFusion Services LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Colo. Case No. 13-30740) on Dec. 20, 2013.  The
petition was signed by Paul Lufkin, Manager of eFusion Management
LLC.  The Debtor disclosed total assets of $39 million and total
liabilities of $32.6 million, according to amended schedules filed
with the Court.  The Hon. Michael E. Romero presides over the
case.  The Debtor employed Powell Theune PC as its counsel.

Richard A. Weiland, the U.S. Trustee for Region 19, was not
able to form an Official Committee of Unsecured Creditors in the
bankruptcy case of eFusion Services LLC because there were too
few unsecured creditors who are willing to serve on the Committee.


EFUSION SERVICES: John Dorsey et al. Insist on Dismissal of Case
----------------------------------------------------------------
Creditors John Dorsey, Thomas McCann and Anthony Maley maintain
their stance that eFusion Services, LLC's Chapter 11 case be
dismissed.

On Sept. 2, 2014, filed a closing brief countering the Creditors'
dismissal motion and asking the U.S. Bankruptcy Court for the
District of Colorado to deny the motion.

As reported by the Troubled Company Reporter on Sept. 12, 2014,
the Creditors said dismissal is warranted because they alleged the
bankruptcy case was filed in bad faith.  The primary consideration
of bad faith, among others, is the withdrawal on the issue of
mismanagement of the EPS Entities by Messrs. Dorsey and McCann at
the trial.  The creditors allege that in the first eight months of
the bankruptcy case, the Debtor has provided eight different
combination of reasons for the filing of the bankruptcy
proceeding.  Some considerations were also taken by the creditors
of the evident bad faith of the Debtor.  Among them, the Debtor
has only one asset, has only a few unsecured creditors and has no
employees.

The Creditors claim in a court filing dated Sept. 9, 2014, that
the Debtor's Closing Brief does not address most of the facts and
argument cited by Creditors and is almost entirely void of
citations to the record.  The Creditors insist that these are
evidences of bad faith (i) the Debtor's ever-shifting reasons for
filing; (ii) the Debtor's unwillingness to find financing; and
(iii) failure to show that the EPS Entities were not harmed by
this bankruptcy.

The Creditors pointed to the Debtor's unwillingness, not its
inability, to find post-petition financing as evidence of bad
faith.  "Mr. Lufkin could only vaguely cite a potential lender
because he has made so little effort to find one.  A debtor who
filed in good faith would not be so cavalier and dismissive of
concerns regarding its post-petition and exit funding," the
Creditors say.

According to the Creditors, Anthony Thompson's testimony did not
show that the EPS Entities were not harmed by this bankruptcy.
The Creditors state that the Debtor "wrongfully claims that
Anthony Thompson's testimony somehow rendered questionable the
testimony of Messrs. McCann and Maley regarding harm caused to the
EPS Entities by the bankruptcy filing.  First, the Debtor makes no
specific citation to Mr. Thompson's testimony because Mr. Thompson
never made any statement regarding the effect of the Debtor's
bankruptcy on the EPS Entities."

                    About eFusion Services LLC

eFusion Services LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Colo. Case No. 13-30740) on Dec. 20, 2013.  The
petition was signed by Paul Lufkin, Manager of eFusion Management
LLC.  The Debtor disclosed total assets of $39 million and total
liabilities of $32.6 million, according to amended schedules filed
with the Court.  The Hon. Michael E. Romero presides over the
case.  The Debtor employed Powell Theune PC as its counsel.

Richard A. Weiland, the U.S. Trustee for Region 19, was not
able to form an Official Committee of Unsecured Creditors in the
bankruptcy case of eFusion Services LLC because there were too
few unsecured creditors who are willing to serve on the Committee.


ENERGY FUTURE: Creditors Committee Supports Exclusivity Extension
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the bankruptcy
cases of Energy Future Holdings Corp., et al., supports their
motion to extend the exclusive right to file a Chapter 11 plan
until February 2015, with the exclusive solicitation period ending
in April 2015.

In its statement, the Committee says that though at the outset of
the cases, certain creditors of the TCEH Debtors were (and, to a
certain extent, remain) on the outside of the restructuring
process looking in, the Committee is hopeful that the resolution
and process contained in the Stipulation and Agreed Order
Regarding a Protocol For Certain Case Matters will engender
productive and value-generating discussions between the Debtors
and TCEH creditors.

Following this new-found spirit of cooperation, the Committee
believes that terminating (or significantly limiting) the Debtors'
exclusive periods at this time has the potential to negatively
impact the efficient administration of these cases and detract
from the Committee's efforts to maximize value for creditors of
the TCEH Debtors.

By extending the Debtors' exclusive periods, the Committee will
have additional time to continue its exhaustive investigation into
potentially valuable claims against affiliates, insiders, the
sponsors, and third parties without the threat of another party
filing a plan, Brett H. Miller, Esq., at Morrison & Foerster LLP,
in New York -- bmiller@mofo.com -- asserts.

He adds that an extension of the exclusive periods will permit the
Debtors to undertake a methodical sale process for the "E-side"
assets, the value of which could benefit all stakeholders.

                       About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY FUTURE: Responds to CSC's Objection to Exclusivity Motion
----------------------------------------------------------------
Energy Future Holdings Corp., et al., contend that the objections
of CSC Trust Company of Delaware, as Indenture Trustee, to their
motion to extend exclusivity period mischaracterize several facts
regarding the motion.

The Debtors seek the exclusive right to file a Chapter 11 plan
until February 2015, with the exclusive solicitation period ending
in April 2015.

The objections create an inaccurate link between the process of
marketing an investment to obtain the equity in and assets of
reorganized EFH or its subsidiaries and exclusivity, Mark D.
Collins, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware -- collins@rlf.com -- contends.  He adds that contrary to
CSC's objections, the Bridge Order extending exclusivity until
September 18, 2014, is a very succinct, two-page order that does
not tie exclusivity to any restructuring initiative, but merely
extends exclusivity to September 18.

Apart from the misstatements in the objections, the Debtors
believe that the Court should deny CSC's request and approve the
Exclusivity Motion because, among other things, the Debtors'
request is wholly expected and appropriate given the size and
complexity of their bankruptcy cases.

The Debtors have reached a deal with creditor constituencies,
including the Official Committee of Unsecured Creditors, an ad hoc
group of noteholders of Texas Competitive Electric Holdings Co.
LLC and Wilmington Savings Fund Society FSB, the indenture trustee
for TCEH second-lien noteholders, extending the exclusivity
period.

                       About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY FUTURE: Has Until 2015 to File Plan, Auction Oncor
---------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Christopher S. Sontchi
in Wilmington, Delaware, extended Energy Future Holdings Corp.'s
exclusive period to file a plan until February 2015 and overruled
an objection from indenture trustee CSC Trust Co. that would have
limited the extension to six weeks.

Billy Cheung and Michelle Sierra, writing for Reuters, reported
that an auction for Oncor, the regulated distribution unit of
bankrupt Texas power company Energy Future Holdings, could come in
the first quarter of next year, as interest in the prized asset
mounts, according to two sources familiar with the matter.  The
Reuters report, citing the same people, related that Energy Future
is targeting an auction in the first quarter of 2015, with Bank of
America Merrill Lynch retained to seek buyers.

                       About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY FUTURE: Opens Bidding on Rights to Oncor Stake
-----------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
NextEra Energy Inc., Hunt Consolidated Inc. and others are in
competition to own more than 80% stake in Energy Future Holdings
Corp.'s rights to non-bankrupt unit, Oncor, a Texas transmission
business.  According to the Journal, the first round deadline to
pick a stalking horse, or lead bidder, is Oct. 23, and competitors
that make it to the second round of bidding must have their
refined offers in by Nov. 21.

Billy Cheung and Michelle Sierra, writing for Reuters, reported
that an auction for Oncor could come in the first quarter of next
year, with Bank of America Merrill Lynch retained to seek buyers.

                       About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENGLOBAL CORP: Obtains $10MM Credit Facility From Regions Bank
--------------------------------------------------------------
ENGlobal said it has closed on a new three-year secured revolving
credit facility with Regions Bank, which facility allows the
Company to borrow up to $10 million pursuant to a borrowing base
formula based primarily on the Company's eligible accounts
receivable.

The Regions facility will be used to provide ongoing working
capital for ENGlobal and for other general corporate purposes.
The new facility will replace the Company's former facility with
PNC Bank, N.A., which was undrawn at the time of Closing.

"We are very pleased to have closed this new credit facility with
Regions," ENGlobal's Chief Financial Officer, Mark Hess, said.
"The Regions credit facility will maintain our borrowing capacity
and liquidity, thereby providing working capital for growth.
Regions has a strong understanding of our business and we look
forward to a long and mutually rewarding business relationship."

Any Loans will bear interest at a rate per annum equal to the
LIBOR Index Rate (a per annum rate equal to LIBOR determined with
respect to an interest period of one month) plus 2.25%.  If the
Loan is converted to a Base Rate Loan, then that Loan will bear
interest at a rate per annum equal to the Base Rate (defined as a
rate per annum equal to the greatest of (a) the Federal Funds Rate
in effect on such day plus 0.50%, (b) the Prime Rate in effect on
such day, or (c) a per annum rate equal to LIBOR determined with
respect to an interest period of one month plus 1.00%) plus 1.25%.

All obligations of the Borrowers under the Loan Agreement are
secured by a first priority perfected lien against any and all
personal property assets of each of the Borrowers.

Additional details regarding the Credit Facility is available for
free at http://is.gd/czWgQa

A copy of the Loan and Security Agreement is available at:

                       http://is.gd/V5bUL6

                         About ENGlobal

Houston-based ENGlobal Corporation (Nasdaq: ENG) is a provider of
engineering and related project services primarily to the energy
sector throughout the United States and internationally.  ENGlobal
operates through two business segments: Automation and
Engineering.  ENGlobal's Automation segment provides services
related to the design, fabrication and implementation of advanced
automation, control, instrumentation and process analytical
systems.  The Engineering segment provides consulting services for
the development, management and execution of projects requiring
professional engineering, construction management, and related
support services.

ENGlobal incurred a net loss of $2.98 million for the year ended
Dec. 28, 2013, a net loss of $33.60 million for the year ended
Dec. 29, 2012 and a net loss of $7.07 million for the year ended
Dec. 31, 2011.

As of June 28, 2014, the Company had $51.02 million in total
assets, $24.87 million in total liabilities and $26.14 million in
total stockholders' equity.


ENTEGRA POWER: Wins Confirmation of Bankruptcy Plan
---------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware, on Sept. 19, 2014, approved the adequacy of the
disclosure statement and confirmed the joint modified prepackaged
plan of reorganization for Entegra Power Group LLC and its debtor
affiliates.

A plan supplement filed prior to the confirmation hearing revealed
that Jonathan Barett, Robert Brooks, Eugene Davis, Michael R.
Schuyler, and Tom White will serve as directors of the reorganized
Debtors.  A Plan Supplement -- a full-text copy of which is
available at http://bankrupt.com/misc/ENTEGRAplansupp0904.pdf--
was also filed on Sept. 4 to include, among other things:

   * Form of Amended and Restated Certificate of Formation of
     Entegra TC LLC
   * Reorganized ETC LLC Agreement
   * Amended Intercreditor Agreement
   * New Second Lien Note Indenture
   * New Third Lien Credit Agreement
   * Officers of the Reorganized Debtors
   * Disclosure of Insider Compensation
   * Contracts to be Assumed Pursuant to Section 8.5 of the Plan

The Plan was amended prior to the confirmation hearing to fine
tune its terms.  A blacklined version of the Plan dated Sept. 4 is
available at http://bankrupt.com/misc/ENTEGRAplanblack0904.pdf

                     About Entegra Power Group

Entegra Power Group LLC and its affiliates operate an independent
power company that owns one of the largest gas-fueled power plants
in the United States, located in El Dorado, Arkansas.  In
addition, affiliate Gila River Energy Holdco LLC indirectly owns
one-half of another of the country's largest gas-fueled power
plants, in Gila Bend, Arizona.  The Entegra entities market
electric power from the two facilities to wholesale customers in
the southeastern and southwestern United States.

Entegra, Gila, and 10 other affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 14-11859) on Aug. 4,
2014.  The cases are pending before the Honorable Peter J. Walsh,
and the Debtors have requested that their cases be jointly
administered.

The Debtors have tapped Richards, Layton & Finger, P.A., as
counsel, and Prime Clerk LLC as claims and notice agent.

The Gila facility's direct owners are not debtors in the Chapter
11 cases, and the Gila Facility will not become property of the
Debtors' estates.


EVENT RENTALS: Chapter 11 Plan of Liquidation Declared Effective
----------------------------------------------------------------
The Effective Date of the First Amended Chapter 11 Plan of
Liquidation for After-Party2, Inc. and its affiliated debtors
proposed by the Debtors and the Official Committee of Unsecured
Creditors occurred on September 5, 2014.

The U.S. Bankruptcy Court for the District of Delaware issued an
order confirming the Plan on August 27, 2014.

Holders Administrative Claim, other than Fee Claim, Statutory
Fees, Buyer Pay Claims, Section 503(b)(1)(D) Claim or Allowed
Administrative Claim, must file their Claim before October 20,
2014, at 4:00 p.m., Eastern Daylight Time.  Fee Claims must also
be filed before October 20.

Claims arising from the rejection, expiration or termination of an
executory contract or unexpired lease must be filed no later than
September 26, 2014, at 4:00 p.m., Eastern Daylight Time.

                       About Event Rentals

Event Rentals Inc., the largest event-rental provider in the U.S.,
filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case
No. 14-bk-10282) on Feb. 13, 2014.

Event Rentals, which sought bankruptcy protection with affiliates,
including Classic Midwest, Inc., has 39 locations across 22
markets.  The company has the largest offering of event equipment,
value-added event services, and temporary structure assets, and
provide services for over 145,000 events for approximately 55,000
customers annually.  The company taps 2,500 employees throughout
the year and has total annual revenues of $235 million.

Assets were listed for $148 million, with debt of $246 million.
The Debtors owe $175 million in outstanding principal under a
senior secured credit agreement; $36 million in outstanding
principal under certain unsecured and subordinated liquidity
notes; $5.5 million in outstanding principal under certain
unsecured and subordinated seller financing relating to business
acquisitions; and trade debt, as of Dec. 26, 2013, totaling $16.6
million.

The Debtors have tapped Jeffrey M. Schlerf, Esq., and John H.
Strock, Esq., at Fox Rothschild LLP as local counsel; John K.
Cunningham, Esq., and Craig H. Averch, Esq., at White & Case LLP
as bankruptcy counsel; Jefferies LLC as financial advisor; and
Kurtzman Carson Consultants LLC as claims and noticing agent.

The Debtors sought bankruptcy protection as they seek a new owner
to take over the business.

Existing lenders led by Ableco Finance LLC, as administrative
agent, have agreed to finance the bankruptcy with a DIP financing
facility of up to $20 million.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed seven
creditors to serve on the Official Committee of Unsecured
Creditors for the Debtors' Chapter 11 cases.

The Debtors disclosed that funds managed by Apollo Global
Management, LLC submitted the winning offer to acquire
substantially all of the Debtors' business at the April 21, 2014
auction.  Apollo acquired the business for $125.2 million in cash.

The Debtors' First Amended Chapter 11 Plan of Liquidation was
declared effective on September 5, 2014.


EWGS INTERMEDIARY: First Amended Liquidation Plan Now Effective
---------------------------------------------------------------
EWGS Intermediary, LLC, and Edwin Watts Golf Shops, LLC, informed
the Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware that their first amended Chapter 11 plan of
liquidation became effective on Aug. 12, 2014.

All requests for payment of an administrative claim incurred on or
after May 30, 2014, were to be filed with the Court and served
upon the reorganized Debtors on or before Sept. 11, 2014, which is
the date that is 30 days after the effective date.

As reported in the Troubled Company Reporter on July 24, 2014,
Judge Walrath issued a findings of fact, conclusions of law, and
order confirming the first amended Chapter 11 plan of liquidation.

All objections, including the objection raised by ACE Property and
Casualty Insurance Company, pertaining to confirmation that have
not been withdrawn, waived or settled are overruled.  In its
objection, ACE complained that the Plan could be construed to
allow the Plan Administrator to unilaterally amend the insurance
policies without the consent of the ACE Companies or extend the
coverage periods of the policies even if they may have expired in
accordance with their terms after the Petition Date.  To address
ACE's objection, Judge Walrath ruled that nothing in the Plan or
the Confirmation Order will prejudice any of the rights, claims or
defenses of ACE Property and Casualty Insurance Company under any
insurance policies under which the Debtors, the estates, or the
Plan Administrator seeks coverage.

Separately, the Debtors obtained authority from the Bankruptcy
Court to sell their rights to payments to which they may be
entitled pursuant to a class action interchange litigation free
and clear of all liens, claims and encumbrances to Cascade
Settlement Services, LLC.

                   About EWGS Intermediary

EWGS Intermediary and Edwin Watts Golf Shops, which operate as an
integrated, multi-channel retailer, offering brand name golf
equipment, apparel and accessories, filed for Chapter 11
protection on Nov. 4, 2013 (Bankr. D. Del. Lead Case No.
13-12876).  They are represented by Domenic E. Pacitti, Esq., and
Michael W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware.  The Debtors tapped Bayshore
Partners LLC as their investment banker, FTI Consulting, LLC, as
their financial advisors, and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent.

PNC Bank, National Association, the DIP Agent, is represented by
Regina Stango Kelbon, Esq., at Blank Rome LLP, in Wilmington,
Delaware.

Lawrence C. Gottlieb, Esq., Jay R. Indyke, Esq., Brent Weisenberg,
Esq., at Cooley LLP, serve as lead counsel to the Official
Committee of Unsecured Creditors.  Michael J. Merchant, Esq.,
Christopher M. Samis, Esq., and William A. Romanowies, Esq., at
Richards, Layton & Finger, P.A. serve as Delaware counsel.  The
Committee hired PricewaterhouseCoopers LLP as its financial
adviser.

The Debtors said total assets are greater than $100 million.  In
its schedules, EWGS Intermediary disclosed $0 in assets and
$77,801,784 in total liabilities.

Hilco Merchant Resources, a unit of Hilco Global, on Dec. 5, 2013,
disclosed that it has completed a $40 million deal to purchase all
the assets of golf retail brand Edwin Watts, in partnership with
GWNE, Inc., an affiliate of Worldwide Golf Shops.  The transaction
was approved by the bankruptcy court and closed on Dec. 5.


EXIDE TECHNOLOGIES: Hires Korn Ferry as Executive Search Advisors
-----------------------------------------------------------------
Exide Technologies Inc. seeks authorization from the Hon. Kevin J.
Carey of the U.S. Bankruptcy Court for the District of Delaware to
employ Korn/Ferry International, Inc. ("Korn Ferry") as executive
search advisors, nunc pro tunc to May 20, 2014.

The Debtor requires Korn Ferry to:

   (a) identify qualified candidates based on defined criteria and
       competencies;

   (b) screen and interview candidates;

   (c) present Exide with information on the best-qualified
       candidates;

   (d) conduct reference checks on successful candidates; and

   (e) facilitate offer negotiation as the Debtor nears its
       planned emergence from chapter 11.

Subject to Court approval, the Debtor has agreed to pay Korn Ferry
under the fee and expense structure as set forth in the Engagement
Letter:

   -- The Debtor will pay Korn Ferry a retainer of $500,000 for
      the search of the New CEO, payable in four monthly
      installments.  The first three installments have been paid.
      The fourth installment will become payable on Aug. 29, 2014.

   -- Ultimately, Korn Ferry shall receive a fee equal to one
      third of the estimated first year compensation of Exide's
      New CEO.  The estimated first year compensation includes
      base salary, target or guaranteed annual cash incentive
      bonus, and sign-on bonus, but specifically excludes the
      value of any inducement or first year equity grant or any
      "make whole" payments to address any forfeited deferred
      compensation or equity awards.  At the conclusion of the New
      CEO search assignment, Korn Ferry will reconcile the
      difference between the retainer and the final sum based upon
      the placed CEO candidate's actual compensation.

   -- In the event that more than one executive is hired by the
      Debtor as a result of the work provided by Korn Ferry, then
      pursuant to the Engagement Letter, a full fee based upon
      actual first year compensation using the formula outlined in
      the Engagement Letter, will be due for each individual hired
      by the Debtor.

   -- The Debtor will also pay Korn Ferry a retainer of $200,000
      for the search and identification of up to 4 directors for
      Exide's board of directors upon emergence.  The retainer
      will be paid in two equal installments of $100,000.  The
      first installment was paid Aug. 11, 2014.  The second
      payment shall be due thirty days thereafter.

   -- Ultimately, Korn Ferry shall receive a $100,000 per director
      placement fee for the search and identification of up to
      four directors.  At the conclusion of the director search
      and only in the event more than two directors submitted by
      Korn Ferry are appointed to serve on Exide's reorganized
      board of directors, the parties will reconcile any
      outstanding balance due to Korn Ferry pursuant to the
      $100,000 per director placement fee.

   -- In addition to its fees, Korn Ferry will also be reimbursed
      for all administrative support, search assessment, research
      services and non-itemized expenses.  These expenses will be
      billed at 12% on all the professional fees.  In addition,
      Korn Ferry will be reimbursed for any direct, out-of-pocket
      expenses such as candidate and consultant travel,
      accommodation and video conferencing, for which the Debtor
      will be billed on a monthly basis as incurred.

Jane Edison Stevenson, vice chairman of Board & CEO Services at
Korn Ferry, 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.

The Court for the District of Delaware will hold a hearing on the
application on Sept. 22, 2014, at 10:00 a.m.  Objections were due
Sept. 15, 2014.

Korn Ferry can be reached at:

       Jane Edison Stevenson
       KORN/FERRY INTERNATIONAL, INC.
       1201 West Peachtree St., NW, Suite 2500
       Atlanta, GA 30309
       Tel: 1 (404) 222-4022
       E-mail: jane.stevenson@kornferry.com

                   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.


FBOP CORPORATION: FDIC Wants 'Unclean Hands' Defense Struck
-----------------------------------------------------------
Law360 reported that FBOP Corp. can't invoke the "unclean hands"
doctrine to claim that the Federal Deposit Insurance Corp. acted
in bad faith by becoming a receiver for its funds because the
agency didn't assume that role under its own authority, the FDIC
told an Illinois federal court.  According to the report, the FDIC
said FBOP's allegation that the FDIC acted in bad faith when it
seized FBOP properties in advance of a change in the law that
would have prevented seizures is facially implausible.


FCC HOLDINGS: Hires Greenberg Traurig as Counsel
------------------------------------------------
FCC Holdings, Inc. and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ Greenberg Traurig, LLP as counsel, nunc pro tunc to the
Aug. 25, 2014 petition date.

The Debtors require Greenberg Traurig to:

   (a) provide legal advice with respect to the Debtors' powers
       and duties as debtors-in-possession in the continued
       operation of their business and management of their
       property;

   (b) negotiate, draft, and pursue all documentation necessary in
       these Chapter 11 Cases;

   (c) prepare on behalf of the Debtors all applications, motions,
       answers, orders, reports, and other legal papers necessary
       to the administration of the Debtors' estates;

   (d) appear in Court and protecting the interests of the Debtors
       before the Court;

   (e) assist with any disposition of the Debtors' assets, by sale
       or otherwise;

   (f) negotiate and take all necessary or appropriate actions in
       connection with a plan or plans of reorganization, or other
       resolution of these Chapter 11 Cases, and all related
       documents thereunder and transactions contemplated therein;

   (g) attend all meetings and negotiate with representatives of
       creditors, the U.S. Trustee, and other parties-in-
       interest;

   (h) provide legal advice regarding bankruptcy law, corporate
       law, corporate governance, securities, employment,
       transactional, tax, labor, litigation, intellectual
       property and other issues to the Debtors in connection with
       the Debtors' ongoing business operations; and

   (i) perform all other legal services for, and provide all other
       necessary legal advice to, the Debtors, which may be
       necessary and proper in these Chapter 11 Cases.

Greenberg Traurig will be paid at these hourly rates:

       Nancy A. Mitchell            $1,020
       Maria J. DiConza             $875
       Scott M. Grossman            $625
       Dennis A. Meloro             $625
       Matthew L. Hinker            $560
       Matthew W. Miller            $590
       Zack Polidoro                $325
       Shareholders                 $350-$1,150
       Of Counsel                   $350-$1,115
       Associates                   $100-$735
       Legal Assistants/Paralegals  $100-$380

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

Greenberg Traurig has received payments from the Debtors during
the year prior to the Petition Date in the amount of $2,212,249.05
in connection with prepetition fees and expenses incurred by
Greenberg Traurig on behalf of the Debtors. Greenberg Traurig
currently holds a retainer for post-petition fees or expenses in
the approximate amount of $300,000.00.  As of the filing of this
Application, there may still be some prepetition fees and costs to
be applied to this retainer.

Matthew W. Miller, shareholder of Greenberg Traurig, 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.

The Court for the District of Delaware will hold a hearing on the
application on Sept. 22, 2014, at 12:30 p.m.  Objections were due
Sept. 14.

Greenberg Traurig can be reached at:

       Dennis A. Meloro, Esq.
       GREENBERG TRAURIG, LLP
       The Nemours Building
       1007 North Orange Street, Ste. 1200
       Wilmington, DE 19801
       Tel: (302) 661-7000
       Fax: (302) 661-7360

                      About FCC Holdings

FCC Holdings, Inc., and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 14-11987) in Delaware on
Aug. 25, 2014.

Headquartered in Ft. Lauderdale, Florida, FCC and its affiliates
provide quality postsecondary education in fourteen states.  The
FCC schools were started by David Knobel in 1994 in Fort
Lauderdale, Florida, and, as of the bankruptcy filing, are owned
by Greenhill Capital Partners.

Prior to the Petition Date, the Company, which currently operates
under the name "Anthem Education," had three sets of schools --
the 14 Florida Career College schools; the 22 Anthem Education
schools; and the 5 US Colleges schools.

The Debtors' outstanding secured obligations are $49,000,000, plus
interest and fees, comprised of: Tranche A Loans of $18.6 million,
Tranche B Loans of $29.1 million, and existing letters of credit
of $1.39 million.  The Debtors also have unsecured debt of
$15 million.

Judge Christopher S. Sontchi is assigned to the Chapter 11 cases.

The Debtors have tapped Dennis A. Meloro, Esq., at Greenberg
Traurig, LLP, as counsel, and KCC as claims and notice agent.

The U.S. Trustee has appointed three members to the Official
Committee of Unsecured Creditors.


FCC HOLDINGS: Hires FTI Consulting to Provide CRO and Interim CEO
-----------------------------------------------------------------
FCC Holdings, Inc. and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ FTI Consulting, Inc. to provide the Debtors a Chief
Restructuring Officer, an Interim Chief Executive Officer and
additional personnel, nunc pro tunc to the Aug. 25, 2014 petition
date.

Pursuant to the Engagement Letter, FTI will provide consulting and
advisory services as FTI and the Debtors deem appropriate and
feasible in order to advise the Debtors in the course of these
Chapter 11 cases, including but not limited to the following:

   (a) provide comprehensive services as the Interim CEO and the
       CRO and to coordinate and direct employees as necessary.
       Sean Harding, Senior Managing Director, will serve in the
       capacity of CRO and Interim CEO for a fixed monthly fee, as
       described below;

   (b) work with management and employees to refine the Company's
       existing cash flow forecasts, related analyses and
       reporting.  Provide any recommendations to existing
       practices and methodologies;

   (c) provide additional FTI professionals to serve as Additional
       Staff of the Company and provide support as required;

   (d) assist management in managing and controlling cash
       disbursements;

   (e) assist management with the development of cash conservation
       measures and the implementation of cash forecasting and
       reporting tools;

   (f) assist management with the development of the Debtors'
       business and restructuring plan, if appropriate, and such
       other related forecasts as may be required by lenders and
       investors in connection with negotiations or by the Debtors
       for other corporate purposes;

   (g) assist management and the Board of Directors in managing
       the various aspects of the execution of a proceeding under
       Chapter 11 of the Bankruptcy Code, including performing the
       financial review and assessment of financial information
       required to initiate such a filing;

   (h) provide assistance with Bankruptcy planning and
       administration requirements, including the identification
       of executory contracts and leases and performance of
       cost/benefit evaluations with respect to the affirmation or
       rejection of each, and preparation of financial analyses
       necessary for dissemination to various creditor groups and
       interested parties;

   (i) assist in the communication and negotiation with outside
       constituents including the lenders and its advisors,
       customers, and suppliers;

   (j) authority and corporate authority to: (a) open and close
       bank accounts for the Company; (b) transfer funds of the
       Company; (c) hire and terminate employees of the Company;
       (d) cause the Company to modify, amend, terminate and
       enforce any of its any contractual rights; (e) cause the
       Company to enter into any agreement or contract; (f) cause
       the Company to pursue, settle or compromise any litigation,
       controversy or other dispute involving the Company; (g)
       cause the Company to borrow funds and to pledge any of its
       assets in order to pay the working capital needs of the
       Company; (h) cause the Company to exercise the Company's
       rights under the Company's agreements and other agreements
       in favor of the Company; and (i) cause the Company to take
       any other action which the CRO and Interim CEO, in good
       faith, determines to be necessary, prudent or appropriate
       under the circumstances; and

   (k) provide such other similar services as may be requested by
       the Board of Directors.

FTI will be paid at these hourly rates:

       Senior Managing Directors         $700-$925
       Directors/Managing Directors      $500-$765
       Consultants/Senior Consultants    $300-$550
       Administrative/Paraprofessionals  $75-$250

For services rendered in connection with the CRO and Interim CEO
functions of the scope of services, the Debtors agree to pay FTI a
monthly, non-refundable advisory fee in of $75,000 for a CRO and
Interim CEO (Sean Harding).

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

Prior to the Petition Date, the Debtors provided FTI with an On
Account Cash amount of $100,000 and a supplemental On-Account Cash
amount of $300,000 (collectively, the "On-Account Cash").  Since
the commencing the engagement, FTI has invoiced the Company in the
aggregate amount of $2,022,759.06, which amount reflects
$1,489,479.90 billed to the Company for professional services,
$133,280.16 for out of pocket expenses and the $400,000 held as
On-Account Cash.

Sean Harding, senior managing director with FTI Consulting, Inc.,
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.

The Court for the District of Delaware will hold a hearing on the
application on Sept. 22, 2014, at 12:30 p.m.  Objections were due
Sept. 14.

FTI can be reached at:

       Robert J. Duffy
       FTI CONSULTING, INC.
       200 State St.
       Boston, MA 02109
       Tel: (617) 897-1501
       E-mail: bob.duffy@fticonsulting.com

                      About FCC Holdings

FCC Holdings, Inc., and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 14-11987) in Delaware on
Aug. 25, 2014.

Headquartered in Ft. Lauderdale, Florida, FCC and its affiliates
provide quality postsecondary education in fourteen states.  The
FCC schools were started by David Knobel in 1994 in Fort
Lauderdale, Florida, and, as of the bankruptcy filing, are owned
by Greenhill Capital Partners.

Prior to the Petition Date, the Company, which currently operates
under the name "Anthem Education," had three sets of schools --
the 14 Florida Career College schools; the 22 Anthem Education
schools; and the 5 US Colleges schools.

The Debtors' outstanding secured obligations are $49,000,000, plus
interest and fees, comprised of: Tranche A Loans of $18.6 million,
Tranche B Loans of $29.1 million, and existing letters of credit
of $1.39 million.  The Debtors also have unsecured debt of
$15 million.

Judge Christopher S. Sontchi is assigned to the Chapter 11 cases.

The Debtors have tapped Dennis A. Meloro, Esq., at Greenberg
Traurig, LLP, as counsel, and KCC as claims and notice agent.

The U.S. Trustee has appointed three members to the Official
Committee of Unsecured Creditors.


FLIGHT DIRECTOR: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Flight Director, Inc.
        100 Michael Angelo Way
        Bldg. E, Suite 600

Case No.: 14-11416

Chapter 11 Petition Date: September 18, 2014

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Hon. Tony M. Davis

Debtor's Counsel: Eric J. Taube, Esq.
                  HOHMANN TAUBE & SUMMERS, LLP
                  100 Congress Ave, Suite 1800
                  Austin, TX 78701
                  Tel: (512) 472-5997
                  Fax: (512) 472-5248
                  Email: erict@hts-law.com

                    - and -

                  Mark Curtis Taylor, Esq.
                  HOHMANN, TAUBE & SUMMERS, LLP
                  100 Congress Ave, Suite 1800
                  Austin, TX 78701
                  Tel: (512) 472-5997
                  Fax: (512) 472-5248
                  Email: markt@hts-law.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Don Hanrahan, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txwb14-11416.pdf


GARLOCK SEALING: Asbestos Claimants Want Records Kept Private
-------------------------------------------------------------
Law360 reported that attorneys for the claimants' committee in
Garlock Sealing Technologies LLC's asbestos-related bankruptcy
case have asked a North Carolina bankruptcy judge to seal records
from an aggregated estimation of pending and future mesothelioma
claims against the company, claiming they contain asbestos
victims' confidential personal information.  According to the
report, in a motion to seal, the Official Committee of Asbestos
Personal Injury Claimants in the Garlock case argues to U.S.
Bankruptcy Judge J. Craig Whitley that details of individual
asbestos claims and resolutions involving many different solvent
and bankrupt defendants, gathered to support the claims, should be
kept under seal.

                      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.


GBG RANCH: Court OKs Hiring of Luttrell + Villareal as Counsel
--------------------------------------------------------------
GBG Ranch, Ltd. sought and obtained permission from the Hon. David
Jones of the U.S. Bankruptcy Court for the Southern District of
Texas to employ Leslie M. Luttrell and the Luttrell + Villareal
Law Group as special counsel, nunc pro tunc to July 8, 2014.

The Debtor filed an emergency application to hire Luttrell +
Villareal as special counsel on the grounds that counsel for the
Debtor, Mr. Carl M. Barto, has been hospitalized on an emergency
basis for presently undetermined duration.  As such, counsel for
the Debtor is currently unable to fully assist the Debtor in
responding to pending motions in the Adversary Proceeding pending
under Case No. 14-5006 or finalize and file various pleadings
necessary for the furtherance of the reorganization process.

Ms. Luttrell's services as Debtor's special counsel will include,
but will not be limited to, the following:

   (a) prosecution and defense of the claims asserted and to be
       asserted in Adversary Proceeding No. 14-05006, including
       discovery, dispositive motions and trial on the merits;

   (b) provide assistance to the Debtor's Counsel in the defense
       against the Motion To Remand;

   (c) prosecution of objections to claims filed in the Chapter 11
       case if determined to be necessary under a plan of
       reorganization;

   (d) provide assistance to the Debtor's counsel in the
       preparation and presentation of a Motion to Approve Sale
       Procedure and Establishing Bid Procedures;

   (e) assist the Debtor with the negotiation and presentation of
       offers for the purchase of one or more parcels of real
       property;

   (f) assist the Debtor's Counsel in obtaining confirmation of a
       plan of reorganization which may be proposed in the case;
       and

   (g) assist Debtor's Counsel in the representation of Debtor
       with any other matters that may arise during the case in
       the United States Bankruptcy Court for the Southern
       District of Texas.

Luttrell + Villareal will be paid at these hourly rates:

       Leslie M. Luttrell, partner      $350
       Oscar H. Villarreal, partner     $325
       Dawn L. Carmody, partner         $325
       Sarah D. Pitts, paralegal        $85
       Laura L. Orton, paralegal        $65
       Shareholder                      $300-$400
       Paralegals                       $180

Luttrell + Villareal will also be reimbursed for reasonable out-
of-pocket expenses incurred.

Ms. Luttrell 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.

Luttrell + Villareal can be reached at:

       Leslie M. Luttrell, Esq.
       LUTTRELL + VILLAREAL LAW GROUP
       400 N. Loop 1604E, Ste. 208
       San Antonio, TX 78232
       Tel: (210) 426-3600
       Fax: (210) 426-3610

                       About GBG Ranch, LTD

GBG Ranch, LTD, a Texas Limited Partnership, sought Chapter 11
protection (Bankr. S.D. Tex. Case No. 14-50155) in Laredo, Texas
on July 8, 2014, without stating a reason.  The company estimated
assets of $50 million to $100 million and debt of less than $10
million.  The company is represented by the Law Office of Carl M.
Barto.


GBG RANCH: Taps Gutierrez Martinez as Accountant
------------------------------------------------
GBG Ranch, Ltd. seeks authorization from the Hon. David Jones of
the U.S. Bankruptcy Court for the Southern District of Texas to
employ Gutierrez Martinez & Co., LLP to perform accounting
services for the estate, nunc pro tunc to the July 8, 2014
petition date.

The Debtor desires to employ GM to

   (a) prepare and file the Debtor's 2014 federal income tax
       return;

   (b) prepare and file the Debtor's 2014 franchise tax return;

   (c) provide advice to the Debtor in connection with specific
       tax issues, including the tax consequences of the sale of
       all or part of the Debtor's real estate holdings; and

   (d) prepare other miscellaneous informational reporting forms
       as requested by the Debtor.

Gutierrez Martinez will be paid at these hourly rates:

       Managing Director        $250
       Principal                $250
       Managers                 $150
       Senior Staff             $150
       Staff                    $75

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

Jorge R. Martinez, principal of Gutierrez Martinez, 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.

Gutierrez Martinez can be reached at:

       Jorge R. Martinez
       GUTIERREZ MARTINEZ & CO., LLP
       9114 McPherson Rd., Ste. 2517, Laredo
       Webb County, TX 78045
       Tel: (956) 415-0007
       Fax: (956) 568-3222

                       About GBG Ranch, LTD

GBG Ranch, LTD, a Texas Limited Partnership, sought Chapter 11
protection (Bankr. S.D. Tex. Case No. 14-50155) in Laredo, Texas
on July 8, 2014, without stating a reason.  The company estimated
assets of $50 million to $100 million and debt of less than $10
million.  The company is represented by the Law Office of Carl M.
Barto.


GENERAL MOTORS: Judge Allows Discovery in Ignition-Switch Case
--------------------------------------------------------------
Jeff Bennett, writing for Daily Bankruptcy Review, reported that
U.S. District Judge Jesse M. Furman in New York has ordered
General Motors Co. to turn over to plaintiff attorneys internal
files and documents about its handling of its ignition-switch
defects boosting hundreds of car owners suing the automaker.
According to the report, Judge Furman directed GM to turn over all
documentation -- including what it submitted to Congress and an
internal investigation -- to a panel of attorneys representing
plaintiffs who have sued alleging economic losses, personal injury
and deaths tied to the company's recall of older cars equipped
with the switch.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

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

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

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


GENERAL MOTORS: Recalls 221,558 Sedans Over Fire Risk
-----------------------------------------------------
The Associated Press reported that General Motors is recalling
221,558 Cadillac XTS and Chevrolet Impala sedans because the brake
pads can stay partially engaged even when they aren't needed,
increasing the risk of a fire.  According to the report, the
recall involves Cadillacs from the 2013-2015 model years and
Impalas from the 2014 and 2015 model years.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

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

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

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


GENERAL MOTORS: Regulators Faulted in Ignition-Switch Defects
-------------------------------------------------------------
Aaron M. Kesslersept, writing for The New York Times' DealBook,
reported that federal regulators had ample information to identify
the dangerous ignition defect in General Motors' Chevrolet Cobalt
and other cars as early as 2007, a House committee investigating
the National Highway Traffic Safety Administration has found.
According to the report, the House report details how
investigators from the agency repeatedly discounted information
that did not match their assumptions -- at one point a staff
member referred to their efforts as "beating a dead horse."

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

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

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

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


GETTY PETROLEUM: Buyers Sue Akin Gump for Conflict in Lukoil Deal
-----------------------------------------------------------------
Law360 reported that Akin Gump Strauss Hauer & Feld LLP was
slapped with a malpractice suit in New York bankruptcy court by
two investors who purchased Getty Petroleum Marketing Inc. from a
unit of OAO Lukoil, who claim Akin Gump gave them shady advice
while representing parties on both sides.  According to the
report, Cambridge Securities LLC owners Bjorn Aaserod and Joseph
Scott Karro -- who are accused of grabbing millions of dollars
from Getty Petroleum's coffers after the purchase -- say Akin Gump
advised them in the deal while also representing the other party.

                      About Getty Petroleum

A remnant of J. Paul Getty's oil empire, Getty Petroleum Marketing
markets gasoline, hydraulic fluids, and lubricating oils through
a network of gas stations owned and operated by franchise holders.
A former subsidiary of Russian oil giant LUKOIL, the company
operates in the Mid-Atlantic and Northeastern US states.  Getty
Petroleum Marketing's primary asset is the more than 800 gas
stations in the Mid-Atlantic states which are located on
properties owned by Getty Realty.  After scaling back the
company's operations to cut debt, in 2011 LUKOIL sold Getty
Petroleum Marketing to investment firm Cambridge Petroleum Holding
for an undisclosed price.

Getty Petroleum and three affiliates filed for Chapter 11
bankruptcy (Bankr. S.D.N.Y. Case Nos. 11-15606 to 11-15609) on
Dec. 5, 2011.  Judge Shelley C. Chapman presides over the case.
Loring I. Fenton, Esq., John H. Bae, Esq., Kaitlin R. Walsh, Esq.,
and Michael J. Schrader, Esq., at Greenberg Traurig, LLP, in New
York, N.Y., serve as the Debtors' counsel.  Ross, Rosenthal &
Company, LLP, serves as accountants for the Debtors.  Getty
Petroleum Marketing, Inc., disclosed $46.6 million in assets and
$316.8 million in liabilities as of the Petition Date.  The
petition was signed by Bjorn Q. Aaserod, chief executive officer
and chairman of the board.

The Official Committee of Unsecured Creditors is represented by
Wilmer Cutler Pickering Hale and Dorr LLP.  Alvarez & Marsal North
America, LLC, serves as the Committee's financial advisors.


GILES-JORDAN: Plan Confirmation Hearing Resumes Today
-----------------------------------------------------
The Bankruptcy Court continued until Sept. 22, 2014, at 10:00
a.m., the hearing to consider the confirmation of Giles-Jordan,
Inc.'s Plan of Reorganization.

According to courtroom minutes for the previous hearing on motions
for relief from stay and the Plan, parties tried to resolve the
matter and requested for a continuance of hearing.

On Sept. 8, the Debtor filed a First Amended Disclosure Statement
in support of its Plan.  The Plan provides that the main mission
for the Debtor now is obtain confirmation of the Plan to quickly
as possible to secure a development loan in order to begin the
development process so that the Debtor can pay off all secured and
unsecured creditors.

The Debtor said that it has a commitment from a private investor
from Austin, Vince DiMare, principal of Equity Secured Capital for
a development loan.  In order for the loan to work, the current
first lien holder, Galveston Shores L.P. will subordinate to a new
first lien in favor of Equity Secured Capital.  The Galveston
Shores loan will be paid its contract interest rate and provide
partial release provisions consistent with the development loan.

A copy of the Disclosure Statement is available for free at
http://bankrupt.com/misc/GILES-JORDAN_42_1ds.pdf

The Debtor is represented by:

         Jeffrey Wells Oppel, Esq.
         OPPEL & GOLDBERG, P.L.L.C.
         1010 Lamar, Suite 1420
         Houston, TX 77002
         Tel: (713) 659-9200
         Fax: (713) 659-9300

                     About Giles-Jordan, Inc.

Giles-Jordan, Inc., filed a Chapter 11 bankruptcy petition in its
hometown in Galveston, Texas (Bankr. S.D. Tex. Case No. 14-80173)
on May 5, 2014.  The Debtor disclosed $12 million in total assets
and $4.81 million in liabilities, including $3.72 million of
secured debt.  Its lone asset is a 39.16-acre property at 230 East
Beach Drive, in Galveston, Texas.  Galveston Shores, LP, of
Carlsbad, California, is the holder of the secured debt.

The case is assigned to Judge Letitia Z. Paul.  The Debtor is
represented by Jeffrey Wells Oppel, Esq., at Oppel & Goldberg,
PLLC, in Houston, Texas.


GILES-JORDAN: Taps William Roitsch and CBRE as Valuation Experts
----------------------------------------------------------------
Giles-Jordan, Inc., seeks permission to employ William J. Roitsch
and CBRE, Inc. as valuation experts.

The application, as amended, provides that Mr. Roitsh and CBRE,
Inc. will assist the Debtor to determine the valuation of its
property consisting of 39.16 acres at 230 East Beach Drive,
Galveston, Texas.

According to the Debtor, Mr. Roitsch and CBRE have considerable
experience in matters of this character, and Debtor believes that
they have the necessary expertise and knowledge to assist the
Debtor in valuation of the property.  CBRE and Mr. Roitsch have
not represented the Debtor previously relating to the development
of the property.

Mr. Roitsch charges a rate of $300 per hour for his services.

To the best of Debtor's knowledge, Mr. Roitsch nor CBRE are
"disinterested persons" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                           *     *     *

In a separate filing, secured creditor Galveston Shores, L.P.,
filed a motion asking the Court ascertain the value of the
property made the basis of its secured lien.

Galveston Shores related that the Debtor purchased the subject
property from Galveston Shores for a sales price of $4,000,000.
On Aug. 28, 2014, appraiser Michael R. Haithcoat prepared an
appraisal of the subject property at the request of Galveston
Shores and Mr. Haithcoat estimated the present value of the
subject value as $4,800,000.

In its Bankruptcy Petition and subsequent disclosure statement,
the Debtor estimated the value of the subject property at
$12,000,000, higher than its appraised value.

Galveston Shores says that it will be impossible for a plan for
reorganization to obtain acceptance until true value of the
subject property is determined.

On Sept. 2, 2014, Galveston Shores filed its proof of claim in the
amount of $3,740,041.

Galveston Shores is represented by:

         David E. Cowen, Esq.
         MCLEOD, ALEXANDER, POWEL & APFFEL, P.C.
         802 Rosenberg
         P.O. Box 629
         Galveston, Texas 77553
         Tel: (281) 488-7150 Ext. 134
              (409) 763-2481 Ext. 134
         Fax: (409) 762-1155

                     About Giles-Jordan, Inc.

Giles-Jordan, Inc., filed a Chapter 11 bankruptcy petition in its
hometown in Galveston, Texas (Bankr. S.D. Tex. Case No. 14-80173)
on May 5, 2014.  The Debtor disclosed $12 million in total assets
and $4.81 million in liabilities, including $3.72 million of
secured debt.  Its lone asset is a 39.16-acre property at 230 East
Beach Drive, in Galveston, Texas.  Galveston Shores, LP, of
Carlsbad, California, is the holder of the secured debt.

The case is assigned to Judge Letitia Z. Paul.  The Debtor is
represented by Jeffrey Wells Oppel, Esq., at Oppel & Goldberg,
PLLC, in Houston, Texas.


GOLDKING HOLDINGS: Joint Bankr. Exit Plan Declared Effective
------------------------------------------------------------
Goldking Holdings, LLC, et al., notified the U.S. Bankruptcy Court
for the Southern District of Texas that the Effective Date for the
their Third Amended Joint Plan of Reorganization Pursuant to
Chapter 11 of the Bankruptcy Code occurred on September 3, 2014.

The Debtors also stated that the Plan has been substantially
consummated, as provided by Section 1101(2) of the Bankruptcy
Code.

The Plan generally provides for the allocation of the Debtors'
remaining assets in order to address creditor claims in a manner
consistent with their relative legal rights and interest.  The
Plan also contemplates certain post-bankruptcy activities and
provides means to ensure the activities are able to be performed
as contemplated.

                   About Goldking Holdings

Goldking Holdings LLC, an oil-and-gas exploration company based in
Houston, sought bankruptcy protection (Bankr. D. Del. Case No. 13-
12820) in Wilmington, Delaware, on Oct. 30, 2013, from creditors
with plans to sell virtually all its assets.  Goldking Onshore
Operating, LLC, and Goldking Resources, LLC, also sought creditor
protection.

The cases were initially assigned to Delaware Judge Brendan
Linehan Shannon.  On Nov. 20, 2013, Judge Shannon granted the
request of Goldking's former CEO Leonard C. Tallerine Jr. and
Goldking Capital LT Corp., to move the Chapter 11 case to Houston,
Texas (Bankr. S.D. Tex. Case No. 13-37200).  Mr. Tallerine owns a
nearly 6% stake in the company through an entity called Goldking
LT Capital Corp.

The Debtors are represented by Scott W. Everett, Esq., and
Christopher L. Castillo, Esq., at Haynes and Boone, LLP.  Edmon L.
Morton, Esq., and Robert F. Poppiti, Jr., Esq., at Young, Conaway,
Stargatt & Taylor, LLP, in Wilmington, Delaware, serve as the
Debtors' co-counsel.  The Debtors' notice, claims, solicitation
and balloting agent is Epiq Bankruptcy Solutions, LLC.

Lantana Oil & Gas Partners was initially hired as the Debtors'
financial advisors.  In December 2013, the Debtors won Court
approval to employ E-Spectrum Advisors LLC, led by its CEO Coy
Gallatin, as asset sale advisor.

Alvarez & Marsal Global Forensic and Dispute Services, LLC, has
been engaged to provide computer forensics and related services.

Goldking Holdings disclosed $16,170 in assets and $11,484,881 in
liabilities as of the Chapter 11 filing.

Judy A. Robbins, United States Trustee for the Southern District
of Texas, appointed a three-member official committee of unsecured
creditors.  Matthew S. Okin, Esq. and Christopher Adams of Okin &
Adams LLP serve as local counsel to the Committee.  The Committee
withdrew its application to employ  Brinkman Portillo Ronk, APC,
as general counsel amidst objections from the Debtors and the U.S.
Trustee.  Claro Group LLC is the panel's financial advisor.

Wayzata Investment Partners, LLC and Wayzata Opportunities Fund
II, L.P. are lenders to the Debtors.  They are represented by John
F. Higgins, Esq., of Porter Hedges LLP.


GOLDKING HOLDINGS: Enters Into 6th Stipulation on DIP Loans
-----------------------------------------------------------
Goldking Holdings, LLC, et al., entered into an eighth agreed
stipulation concerning the final order approving postpetition
financing.  The stipulation entered with lender Wayzata
Opportunities Fund II, L.P., extended the budget from Aug. 20,
2014, until the earlier of September 12 or the occurrence of the
effective date for the Debtors' Third Amended Joint Plan of
Reorganization, without increasing or changing total financing
commitment.

The Debtors' Plan became effective on September 3, 2014.

                   About Goldking Holdings

Goldking Holdings LLC, an oil-and-gas exploration company based in
Houston, sought bankruptcy protection (Bankr. D. Del. Case No. 13-
12820) in Wilmington, Delaware, on Oct. 30, 2013, from creditors
with plans to sell virtually all its assets.  Goldking Onshore
Operating, LLC, and Goldking Resources, LLC, also sought creditor
protection.

The cases were initially assigned to Delaware Judge Brendan
Linehan Shannon.  On Nov. 20, 2013, Judge Shannon granted the
request of Goldking's former CEO Leonard C. Tallerine Jr. and
Goldking Capital LT Corp., to move the Chapter 11 case to Houston,
Texas (Bankr. S.D. Tex. Case No. 13-37200).  Mr. Tallerine owns a
nearly 6% stake in the company through an entity called Goldking
LT Capital Corp.

The Debtors are represented by Scott W. Everett, Esq., and
Christopher L. Castillo, Esq., at Haynes and Boone, LLP.  Edmon L.
Morton, Esq., and Robert F. Poppiti, Jr., Esq., at Young, Conaway,
Stargatt & Taylor, LLP, in Wilmington, Delaware, serve as the
Debtors' co-counsel.  The Debtors' notice, claims, solicitation
and balloting agent is Epiq Bankruptcy Solutions, LLC.

Lantana Oil & Gas Partners was initially hired as the Debtors'
financial advisors.  In December 2013, the Debtors won Court
approval to employ E-Spectrum Advisors LLC, led by its CEO Coy
Gallatin, as asset sale advisor.

Alvarez & Marsal Global Forensic and Dispute Services, LLC, has
been engaged to provide computer forensics and related services.

Goldking Holdings disclosed $16,170 in assets and $11,484,881 in
liabilities as of the Chapter 11 filing.

Judy A. Robbins, United States Trustee for the Southern District
of Texas, appointed a three-member official committee of unsecured
creditors.  Matthew S. Okin, Esq. and Christopher Adams of Okin &
Adams LLP serve as local counsel to the Committee.  The Committee
withdrew its application to employ  Brinkman Portillo Ronk, APC,
as general counsel amidst objections from the Debtors and the U.S.
Trustee.  Claro Group LLC is the panel's financial advisor.

Wayzata Investment Partners, LLC and Wayzata Opportunities Fund
II, L.P. are lenders to the Debtors.  They are represented by John
F. Higgins, Esq., of Porter Hedges LLP.


GREEN MOUNTAIN: Court Okays Hiring of Alston & Bird as Attorneys
----------------------------------------------------------------
Green Mountain Management, LLC and its debtor-affiliates sought
and obtained authorization from the Hon. Barbara Ellis-Monro of
the U.S. Bankruptcy Court for the Northern District of Georgia to
employ Alston & Bird LLP as bankruptcy attorneys, nunc pro tunc to
the July 25, 2014 petition date.

The Debtors require Alston & Bird to:

   (a) assist the Debtors in the preparation of its schedules,
       statement of affairs, and the periodic financial reports
       required by the Bankruptcy Code, the Bankruptcy Rules, or
       any order of this Court;

   (b) assist the Debtors in consultations, negotiations, and all
       other dealings with creditors, equity security holders, and
       other parties-in-interest concerning the administration of
       this case;

   (c) prepare pleadings, conduct investigations, and make court
       appearances incidental to the administration of Debtors'
       estates;

   (d) advise the Debtors of their rights, duties, and obligations
       under the Bankruptcy Code, Bankruptcy Rules, Local Rules of
       Practice for the U.S. Bankruptcy Court for the Northern
       District of Georgia (the "Local Rules"), and Orders of this
       Court;

   (e) assist the Debtors in the development and formulation of
       plans and other means to maximize value to their estates,
       including the preparation of plans, disclosure statements,
       and any related documents for submission to this Court and
       to Debtors' creditors, equity holders, and other parties in
       interest;

   (f) advise and assist the Debtors with respect to litigation;

   (g) render corporate and other legal advice and perform all
       those legal services necessary and proper to the
       functioning of Debtors during the pendency of this case;
       and


   (h) take any and all necessary actions in the interest of the
       Debtors and their estates incident to the proper
       representation of Debtors in the administration of this
       case.

Alston & Bird will be paid at these hourly rates:

       Dennis J. Connolly        $950
       David A. Wender           $655
       Sage M. Sigler            $580
       Kevin M. Hembree          $440

Alston & Bird will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prepetition, Alston & Bird was retained by Daniel Cowart to
represent the interests of Green Mountain.  In connection with the
representation of Green Mountain, Alston & Bird received $36,500
from Green Mountain during the 90 days preceding the Petition Date
for its various efforts on behalf of Green Mountain and in dealing
with its regular and extraordinary business issues.

Additionally, Alston & Bird received a retainer in the amount of
$225,000 on July 24, 2014 for legal services rendered in
contemplation of or in connection with this bankruptcy filing (the
"Prepetition Retainer").  The full balance of the Prepetition
Retainer remains available and Alston & Bird has not applied the
Prepetition Retainer for any services provided, including
bankruptcy preparation services rendered on July 24, 2014.  All
fees and expenses will be included in Alston & Bird's first
application for compensation.

David A. Wender, partner of Alston & Bird, 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.

Alston & Bird can be reached at:

       David A. Wender, Esq.
       ALSTON & BIRD LLP
       1201 West Peachtree Street
       Atlanta, GA 30309
       Tel: (404) 881-7000
       Fax: (404) 881-7777
       E-mail: david.wender@alston.com

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

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

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

The case is assigned to Judge Barbara Ellis-Monro.

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


GYMBOREE CORP: Bank Debt Trades at 29% Off
-----------------------------------------
Participations in a syndicated loan under which Gymboree Corp is a
borrower traded in the secondary market at 71.05 cents-on-the-
dollar during the week ended Friday, September 19, 2014 according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 7.93
percentage points from the previous week, The Journal relates.
Gymboree Corp pays 350 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Feb. 23, 2018.  The bank
debt carries Moody's B3 and Standard & Poor's CCC+ rating.  The
loan is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.


HALYARD HEALTH: Moody's Assigns Ba3 Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service assigned a first time Corporate Family
Rating (CFR) of Ba3, a Probability of Default Rating of Ba3-PD to
Halyard Health, Inc. (Halyard). At the same time, Moody's rated
the company's new senior secured credit facilities at Ba2 and
senior unsecured notes at B2. A Speculative Grade Liquidity rating
of SGL-1 was also assigned. The rating outlook is stable.

The company intends to use net proceeds from the senior secured
term loan B of approximately $390 million, approximately $250
million of senior unsecured notes and cash on hand to fund a cash
distribution to its current parent -- Kimberly-Clark Corporation
(Kimberly-Clark, A2, stable). This is being done in connection
with Halyard's spin-off from Kimberly-Clark. Halyard also expects
to enter into a $250 million senior secured revolving credit
facility which will be undrawn at the time of the spin-off.

Ratings Assigned: (subject to Moody's review of final documents)

Corporate Family Rating at Ba3

Probability of Default Rating at Ba3-PD

$250 million senior secured revolving credit facility at Ba2
(LGD3)

$390 million senior secured term loan B at Ba2 (LGD3)

$250 million of senior unsecured notes at B2 (LGD5)

Speculative Grade Liquidity Rating at SGL-1

Rating Rationale

The Ba3 CFR reflects the company's strong presence in diverse but
relatively low-tech medical product categories, good geographic
diversification and healthy operating cash flow. The rating is
constrained by the company's moderately high financial leverage,
weak organic growth due to soft hospital surgery procedure trends,
and competitive pressures in several key product lines.
Additionally, the rating incorporates Moody's concerns with
execution risk associated with the transition to a standalone
entity, which increases uncertainty about the company's operations
and financial results. It also reflects the lack of track record
of Halyard's financial policy.

The senior secured debt rating is one notch above the Corporate
Family Rating, owing to the large amount of unsecured debt with a
lower priority of claim in the proposed capital structure. The
senior unsecured notes are rated two notches below the corporate
family rating due to their junior ranking in the capital structure
and effective subordination to the secured bank debt.

Halyard's very good liquidity (SGL-1) is supported by its solid
cash from operations, $250 million committed revolving credit
facility, ample covenant cushion and lack of near-term debt
maturities. The company's free cash flow, however, will be
constrained in 2014 and 2015, due to significant costs related to
the spin-off, as well as material capital expenditures and
investments in working capital which are necessary to support
growth.

The stable outlook reflects Moody's assumption that debt to EBITDA
leverage will remain moderate, in a range between 3.0-3.5 times
over the next 12-18 months. Moody's also expects that the company
will remain focused on executing its transition in the near term
while remaining prudent in managing its acquisition strategy.

To achieve an upgrade, Halyard would need to successfully complete
its transition, establish a track record as a public company with
positive organic growth and stable market position, improve EBIT
margins, and demonstrate its ability and willingness to maintain
debt to EBITDA leverage at levels below 3 times.

Conversely, significant disruption as a result of the transition
to a stand-alone company could lead Moody's to downgrade the
ratings. Debt/EBITDA sustained above 4 times could also lead to a
downgrade. Scenarios where debt/EBITDA could rise include
unfavorable business developments, large debt-funded acquisitions
or shareholder returns, as well as regulatory compliance issues.

Halyard Health, Inc. is currently is a wholly-owned subsidiary of
Kimberly-Clark. Halyard is expected to be spun off from Kimberly-
Clark at the end of October 2014. The company operates in two
business segments: surgical and infection prevention and medical
devices and has an annual revenues of approximately $1.7 billion.

The principal methodology used in this rating was the Global
Medical Product and Device 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.


HDGM ADVISORY: Says Chapter 11 Plan Is Coming
---------------------------------------------
Sherri Toub, a bankruptcy columnist for Bloomberg News, reported
that HDGM Advisory Services LLC and HDG Mansur Investment Services
Inc. said significant progress has been made toward and global
settlement of claims that the request for the appointment of a
Chapter 11 trustee or the conversion of the case to Chapter 7
liquidation need not be approved.  According to the report, in
opposition to the requests were made by KFH Capital Investment Co.
and Kuwait Finance House Real Estate Co., which sued Mansur
Investment and owner Harold Garrison in the U.K. for breach of
contract, fraud and negligent misrepresentation, the Debtors
argued that the KFH entities aren't eligible to seek such "drastic
measures" because they're not creditors of, nor do they have
claims against, both debtors.

                   About HDGM Advisory Services

HDGM Advisory Services, LLC, and HDG Mansur Investment Services,
Inc. sought Chapter 11 bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-04797 and 14-04798) in Indianapolis, Indiana, on
May 21, 2014.  On May 28, 2014, the Hon. James M. Carr directed
the joint administration the cases of HDGM Advisory Services, LLC,
and HDG Mansur Investment Services, Inc., under the lead case --
HDGM Advisory, Case No. 14-04797.

HDGH Advisory disclosed $20,257,001 in assets and $7,991, 590 in
liabilities as of the Chapter 11 filing.  HDG Mansur disclosed
$20,454,819 in assets and $12,377,542 in liabilities.  According
to a court filing, the Debtors don't have any secured creditors.

The cases are assigned to Judge James M. Carr.

The Debtors have tapped Michael W. Hile, Esq., Christine K.
Jacobson, Esq., and Henry Mestetsky, Esq., at Katz & Korin PC, as
counsel.

An affiliate of the Debtors, Hamilton Proper Partners Golf
Partnership, L.P., sought bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-00461) on Jan. 24, 2014.


HERCULES OFFSHORE: Files Fleet Status Report as of Sept. 17
-----------------------------------------------------------
Hercules Offshore, Inc., posted on its Web site at
http://www.herculesoffshore.com/a report entitled "Hercules
Offshore Fleet Status Report".  The Fleet Status Report includes
the Hercules Offshore Rig Fleet Status (as of Sept. 17, 2014),
which contains information for each of the Company's drilling
rigs, including contract dayrate and duration.  The Fleet Status
Report also includes the Hercules Offshore Liftboat Fleet Status
Report, which contains information by liftboat class for August
2014, including revenue per day and operating days.  The Fleet
Status Report can be found under the Investor Relations portion of
the Company's Web site, a copy of which is available at:

                        http://is.gd/IKx8ww

                      About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

Hercules incurred a net loss of $68.11 million in 2013, a net loss
of $127 million in 2012 and a net loss of $76.12 million in 2011.

                           *     *     *

The Troubled Company Reporter said on April 11, 2013, that
Moody's Investors Service upgraded Hercules Offshore, Inc.'s
Corporate Family Rating to B2 from B3.  Hercules' B2 CFR is
supported by its improved cash flow and lower leverage on the back
of increased drilling activity and higher day-rates in the Gulf of
Mexico (GOM)

As reported by the TCR on Nov. 6, 2012, Standard & Poor's Ratings
Services raised its corporate credit rating on Houston-based
Hercules Offshore Inc. to 'B' from 'B-'.  "The upgrade reflects
the improving market conditions in the Gulf of Mexico and our
expectations that Hercules' fleet will continue to benefit," said
Standard & Poor's credit analyst Stephen Scovotti.


HOSTESS BRANDS: Freed From Property Tax Claims in Bankruptcy Case
-----------------------------------------------------------------
Law360 reported that a New York bankruptcy judge freed the former
Hostess Brands Inc. from paying more than $518,000 in property tax
claims filed by local tax authorities in New York, Texas and other
states because the company already paid or satisfied the claims.
According to the report, Old Hostess objected to certain secured
property tax claims, saying they had already been paid or
satisfied, and submitted a chart to the court detailing its
payments to the relevant tax authorities.

                       About Hostess Brands

Founded in 1930, Irving, Texas-based Hostess Brands Inc., is known
for iconic brands such as Butternut, Ding Dongs, Dolly Madison,
Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride,
Twinkies and Wonder.  Hostess has 36 bakeries, 565 distribution
centers and 570 outlets in 49 states.

Hostess filed for Chapter 11 bankruptcy protection early morning
on Jan. 11, 2011 (Bankr. S.D.N.Y. Case Nos. 12-22051 through
12-22056) in White Plains, New York.  Hostess Brands disclosed
assets of $982 million and liabilities of $1.43 billion as of the
Chapter 11 filing.

The bankruptcy filing was made two years after predecessors
Interstate Bakeries Corp. and its affiliates emerged from
bankruptcy (Bankr. W.D. Mo. Case No. 04-45814).

In the new Chapter 11 case, Hostess has hired Jones Day as
bankruptcy counsel; Stinson Morrison Hecker LLP as general
corporate counsel and conflicts counsel; Perella Weinberg Partners
LP as investment bankers, FTI Consulting, Inc. to provide an
interim treasurer and additional personnel for the Debtors, and
Kurtzman Carson Consultants LLC as administrative agent.

Matthew Feldman, Esq., at Willkie Farr & Gallagher, and Harry
Wilson, the head of turnaround and restructuring firm MAEVA
Advisors, are representing the Teamsters union.

Attorneys for The Bakery, Confectionery, Tobacco Workers and Grain
Millers International Union and Bakery & Confectionery Union &
Industry International Pension Fund are Jeffrey R. Freund, Esq.,
at Bredhoff & Kaiser, P.L.L.C.; and Ancela R. Nastasi, Esq., David
A. Rosenzweig, Esq., and Camisha L. Simmons, Esq., at Fulbright &
Jaworski L.L.P.

The official committee of unsecured creditors selected New York
law firm Kramer Levin Naftalis & Frankel LLP as its counsel. Tom
Mayer and Ken Eckstein head the legal team for the committee.

Hostess Brands in mid-November 2012 opted to pursue the orderly
wind down of its business and sale of its assets after the Bakery,
Confectionery, Tobacco and Grain Millers Union (BCTGM) commenced a
nationwide strike.  The Debtor failed to reach an agreement with
BCTGM on contract changes.

Hostess Brands sold its businesses and most of the plants to five
different buyers for an aggregate of $860 million.  Hostess still
has some plants, depots and other facilities the buyers didn't
acquire.

The bankruptcy estate has changed its name to Old HB Inc.


INDIANA TOLL ROAD: Expected to File Prepack Chapter 11 Today
------------------------------------------------------------
The Indiana Toll Road Concession Company is expected to file for
Chapter 11 bankruptcy Sept. 22, according to various news reports.

John Kehoe, writing for The Sydney Morning Herald, reported the
company, which is part-owned by Australia's Macquarie Group will
file for bankruptcy on Monday, after collapsing under the weight
of $5.8 billion in debt.  The Herald said a lending syndicate of
banks and hedge funds have agreed to allow the joint owners of the
Indiana toll road to enter Chapter 11 to restructure the debt or
sell the distressed asset.

In 2006, Macquarie and Spanish infrastructure company Cintra paid
the state of Indiana $3.8 billion for the 253-kilometre toll road
linking Chicago to west of Ohio.  The Herald said the lingering
effects of the 2008 recession and opening of a nearby competitor
freeway hurt the toll road's revenues.

According to the Herald, Macquarie Infrastructure Partners owns
25% of the project and Macquarie Atlas Roads, spun out of
Macquarie Group in a 2010 demerger, controls 25%.

Cintra, the road's operator, holds 50% of the equity. It is a
subsidiary of Spanish multinational company Ferrovial

According to the Herald, ITR Concession Company, said in a
statement on Friday it had received support from its lenders and
equity sponsors for a "pre-packaged" restructuring plan.

"The plan will permit ITRCC to either sell its assets through a
competitive process or recapitalise ITRCC by reducing its debt,"
the statement said.

The Herald noted that hedge funds and distressed debt investors,
such as Strategic Value Partners and King Street Capital
Management, hold about 80% of the original $5.8 billion in loans,
a source involved in the restructure negotiations said.

The Wall Street Journal's Matt Jarzemsky and Gillian Tan reported
that the toll road missed an interest payment in June, which
helped accelerate restructuring talks with the hedge funds that
bought the road's bank debt, sources said.

Sources told WSJ that a committee of independent directors has
already retained UBS AG to market the road to potential buyers.
If the committee can't find a buyer at a suitable price, the plan
would permit the secured creditors to take control of Indiana Toll
Road, the people added.

WSJ said groups already circling Indiana Toll Road include Spanish
conglomerate Abertis Infraestructuras SA and Canada's Brookfield
Asset Management, according to people familiar with the matter.
Current part-owner Cintra unit also has teamed up with the Canada
Pension Plan Investment Board to pursue a bid, the people said.


INT'L FOREIGN EXCHANGE: Has Until Nov. 10 to File Chapter 11 Plan
-----------------------------------------------------------------
The Hon. Robert E. Gerber of the U.S. Bankruptcy Court for the
Southern District of New York extended the exclusive periods of
International Foreign Exchange Concepts Holdings Inc. and its
debtor-affiliates to:

  a) file a Chapter 11 plan through and including Nov. 10, 2014;
     and

  b) solicit acceptances of that plan until Jan. 12, 2015.

              About International Foreign Exchange

International Foreign Exchange Concepts Holdings, Inc., and
International Foreign Exchange Concepts, L.P., sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
13-13380) on Oct. 17, 2013.

Judge Robert Gerber oversees the case.  Counsel to the Debtors is
Henry P. Baer, Jr., Esq., at Finn Dixon & Herling LLP, in
Stamford, Connecticut.  The Debtors' restructuring advisors is CDG
Group.  DiConza Traurig LLP serves as conflicts counsel.  The
Debtors' special counsel is Withers Bergman LLP.  The Debtors'
notice, claims, solicitation and balloting agent is Logan &
Company, Inc.

Counsel to AMF-FXC Finance LLC, the DIP lender, is Michael L.
Cook, Esq., and Christopher Harrison, Esq., at Schulte Roth &
Zabel LLP, in New York.

International Foreign Exchange Concepts Holdings Inc., the parent
of investment adviser FX Concepts LLC, sold assets for
$7.48 million to Ruby Commodities Inc., at an auction held
Nov. 25, 2013.  The sale was an old-fashioned auction with the
assets first offered in six lots and then in bulk.  The piecemeal
auction fetched combined bids of $3.38 million.  When the assets
were offered in bulk, Ruby came out on top with an offer of $7.48
million, which the bankruptcy court in New York approved Nov. 26.


IRONSTONE GROUP: Eugene Yates Appointed Chief Financial Officer
---------------------------------------------------------------
The board of directors of Ironstone Group, Inc., appointed Eugene
Yates chief financial officer of the Company on Sept. 12, 2014,
according to a regulatory filing with the U.S. Securities and
Exchange Commission.  Elizabeth Hambrecht resigned as the
Company's chief financial officer on Sept. 12, 2014.

Mr. Yates is a partner and chief financial officer at WR Hambrecht
+ Co.  Before joining WR Hambrecht + Co., Mr. Yates spent three
years as a financial consultant in the asset management and
commercial banking industries.  From 2006 to 2011, Mr. Yates
served as chief financial officer of Wells Fargo Securities, LLC.
From 1998 to 2006, Mr. Yates was vice president of Fixed Income
finance and director of regulatory reporting for Charles Schwab &
Co.  Earlier in his career Mr. Yates spent four years as a senior
manager of finance for Cedel, a cross-border securities clearing
house in Luxembourg.  Mr. Yates is a Certified Public Accountant
and holds a B.S. degree in Business Administration from the
University of Southern California.

No arrangement or understanding exists between Mr. Yates and any
other person pursuant to which Mr. Yates was appointed as an
executive officer of the Company.  Mr. Yates is not related to any
director or other executive officer of the Company.

The Company has not entered into any compensation arrangements
with Mr. Yates.

On Sept. 12, 2014, the Board elected Ms. Hambrecht to serve as a
director of the Company, effective immediately.  Ms. Hambrecht
will be compensated for services as a director consistent with the
Company's compensation policies for directors generally.

                       About Ironstone Group

San Francisco, Calif.-based Ironstone Group, Inc., and
subsidiaries have no operations but are seeking appropriate
business combination opportunities.

Ironstone Group reported a net loss of $169,747 in 2013 following
a net loss of $141,392 in 2012.  As of June 30, 2014, the Company
had $2.57 million in total assets, $1.71 million in total
liabilities and $852,667 in total stockholders' equity.

Burr Pilger Mayer, Inc., 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
recurring net losses and negative cash flows from operations which
raise substantial doubt about its ability to continue as a going
concern.

As reported by the TCR on Jan. 14, 2014, Madsen & Associates was
dismissed by Ironstone.  The Company engaged Burr Pilger Mayer,
Inc., as its new independent registered public accounting firm.


JOSHUA INVESTMENTS: Case Summary & 4 Unsecured Creditors
--------------------------------------------------------
Debtor: Wright Joshua Investments, LLC
           fka Joshua Investments, LLC
        1317 N. FM 509
        Harlingen, TX 78550

Case No.: 14-20381

Chapter 11 Petition Date: September 18, 2014

Court: United States Bankruptcy Court
       Southern District of Texas (Corpus Christi)

Judge: Hon. Richard S. Schmidt

Debtor's Counsel: Kell Corrigan Mercer, Esq.
                  HUSCH BLACKWELL LLP
                  111 Congress Ave, Ste 1400
                  Austin, TX 78701
                  Tel: 512-472-5456
                  Fax: 512-479-1101
                  Email: kell.mercer@huschblackwell.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by W. Christopher Wright, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/txsb14-20381.pdf


KANGADIS FOOD: Court Seeks More Time to Decide on KFM Lease
-----------------------------------------------------------
Kangadis Food Inc. has filed a motion seeking a three-month
extension to assume or reject an unexpired lease for its main
office and warehouse facility in Hauppauge, New York.

In its motion, Kangadis asked U.S. Bankruptcy Judge Robert
Grossman to give the company until Jan. 5, 2015 to either assume
or reject its lease agreement with Kangadis Family Management,
LLC.

"The debtor is seeking an extension of time to assume or reject
the lease because the lease will be assumed under the plan, which
the debtor expects to confirm in the next few months," said the
company's lawyer, Adam Rosen, Esq., at Silverman Acampora LLP, in
Jericho, New York.

"Until the debtor's plan is confirmed, however, the debtor is not
in a position to determine whether the lease should be assumed or
rejected," Mr. Rosen said in the filing.

A court hearing is scheduled for October. 15.  Objections are due
by October 8.

                        About Kangadis Food

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

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

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

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

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


KEEN EQUITIES: Can Hire Sive Paget as Environmental Counsel
-----------------------------------------------------------
Keen Equities, LLC sought and obtained permission from the Hon.
Nancy Hershey Lord of the U.S. Bankruptcy Court for the Eastern
District of New York to employ Sive, Paget & Riesel, P.C. as
special land use and environmental counsel.

The range of services to be rendered by Sive Paget includes the
following:

   (a) compliance with the Village's Zoning Code;

   (b) compliance with the Village's subdivision and site plan
       requirements;

   (c) compliance with the other relevant provisions of the
       Village Code, including procedures for project review by
       Planning Boards;

   (d) compliance with the New York State Environmental Quality
       Review Act;

   (e) compliance with other state and federal environmental laws;

   (f) assure compliance with General Municipal Law 239 process
       for referral to Orange County;

   (g) draft documents to form homeowners association
       (Declaration, articles of incorporation, by-law, etc);

   (h) obtain approval from NYS Attorney General of homeowners
       association;

   (i) draft documents needed to from Transportation Corporations,
       if a new water and sewer company is to be formed; and

   (j) draft documents related to any future dedications of land
       to the Village.

The Court ordered that all compensation to be awarded to Sive,
Paget will be subject to Bankruptcy Court approval after
application and notice thereof, pursuant to the provisions of 11
U.S.C. sections 330 and 331 and applicable Bankruptcy Rules.

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

Steven Barshov, principal of Sive Paget, 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.

Sive Paget can be reached at:

       Steven Barshov, Esq.
       PAGET & RIESEL, P.C.
       460 Park Avenue, 10th Floor
       New York, NY 10022
       Tel: (646) 378-7229
       E-mail: sbarshov@sprlaw.com

                   About Keen Equities, LLC

Keen Equities, LLC, filed a Chapter 11 petition (Bankr. E.D.N.Y.
Case No. 13-46782) on Nov. 12, 2013.  The petition was signed by
Y.C. Rubin as manager.  The Debtor disclosed total assets of $15.1
million and total liabilities of $6.84 million.  Judge Nancy
Hershey Lord presides over the case.  Goldberg Weprin Finkel
Goldstein LLP serves as the Debtor's counsel.

The Debtor is comprised of a New York limited liability company
consisting of 12 members/investors.  The Debtor is the owner of
approximately 860 acres of vacant land (the Lake Anne property)
situated close to the Hassidic community of Kiryas Joel, in
Monroe, New York.  The Lake Anne Property was purchased in 2006
with the goal of building residential homes to meet the growing
needs of the Kiryas Joel community (the project).


LATEX FOAM: Can Use Wells Fargo's Cash Collateral Until Sept. 26
----------------------------------------------------------------
The Bankruptcy Court approved a fourth interim stipulation and
order authorizing Latex Foam International, LLC, et al.'s use of
cash collateral of Wells Fargo Bank until September 26, 2014,
pursuant to a budget.

A copy of the cash collateral budget is available for free at:

     http://bankrupt.com/misc/LatexFoam_Budget_09262014.pdf

As reported in the Troubled Company Reporter on June 17, 2014, the
Bank provided financing to Latex in the original principal amount
of $34 million.  Wells Fargo asserts secured claims of $16,500,000
against the Debtor's assets including cash collateral as provided
under Section 361 and 363 of the Bankruptcy Code.

As adequate protection against any postpetition date erosion of
Wells Fargo's cash collateral within the meaning of Sections 361
and 363 of the Bankruptcy Code, the Debtors propose to grant to
Wells Fargo a replacement lien in all after acquired cash
collateral.

                         About Latex Foam

Headquartered in Shelton, Connecticut, Latex Foam International,
LLC manufactures foam mattresses and component mattresses.  The
196-employee company produces mattress cores, toppers, and pillow
buns utilizing both the Talaway and Dunlop manufacturing
processes.

LFIH is a holding company for 100% of the equity interests in LFI,
PLB, and an inactive entity, Dunlop Latex Foam (Malaysia) SDN.
BHD.

LFI and four affiliates sought Chapter 11 bankruptcy protection
(Bankr. D. Conn. Lead Case No. 14-50845) in Bridgeport,
Connecticut, on May 30, 2014.  David Fisher signed the petitions
as president.  The Debtors are seeking joint administration of
their cases.

LFI disclosed $18,437,185 in assets and $30,342,926 in liabilities
as of the Chapter 11 filing.

Judge Alan H.W. Shiff presides over the cases.

James Berman, Esq., and Craig I. Lifland, Esq., at Zeisler and
Zeisler, serve as the Debtors' counsel.

On June 19, 2014, the U.S. Trustee appointed five creditors to
serve on the Official Committee of Unsecured Creditors.   The
Committee tapped to retain Schafer and Weiner, PLLC as its
counsel, and Reid and Reige, P.C. as its local counsel.


LDR INDUSTRIES: Meeting of Creditors Set for Oct. 15
----------------------------------------------------
The meeting of creditors of LDR Industries, LLC will be held on
Oct. 15, at 1:30 p.m., according to a filing with the U.S.
Bankruptcy Court for the Northern District of Illinois.

The meeting will be held at the Office of the U.S. Trustee, 8th
Floor, Room 804, 219 South Dearborn, in Chicago, Illinois.

The court overseeing the bankruptcy case of a company schedules
the meeting of creditors usually about 30 days after the
bankruptcy petition is filed.  The meeting is called the "341
meeting" after the section of the Bankruptcy Code that requires
it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                       About LDR Industries

For over 75 years, Chicago-based LDR Industries and its
predecessor companies have engaged in the distribution of plumbing
products to the home improvement industry, including faucets,
showers, sinks, toilet seats and variety of other specialty lines
such as lead-free valves.

LDR Industries, LLC, sought Chapter 11 protection (Bankr. N.D.
Ill. Case No. 14-32138) in Chicago, Illinois on Sept. 2, 2014,
with plans to sell the business following a dispute with the U.S.
Customs.

The bankruptcy case is assigned to Honorable Judge Pamela S.
Hollis.  The Debtor is represented by attorneys at Reed Smith LLP.

The Chicago-based company estimated $10 million to $50 million in
assets and debt.


LEHMAN BROTHERS: Slams JPMorgan's $7-Bil. Precollapse 'Cash Grab'
-----------------------------------------------------------------
Law360 reported that Lehman Brothers Holdings Inc. urged a New
York federal judge to order the return of a $6.9 billion "slush
fund" of collateral that JPMorgan Chase Bank NA allegedly seized
days before Lehman's 2008 collapse, saying it belongs to the
general unsecured creditor body.  According to the report, Lehman
filed a partial summary judgment motion accusing JPMorgan of
leveraging its position as Lehman's primary clearing bank to grab
extra collateral security that it later used to satisfy 10-figure
claims against the Lehman bankruptcy estate at a 100 percent rate.

                      About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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


LEO MOTORS: Files Financial Statements of Acquired Business
-----------------------------------------------------------
Leo Motors, Inc., on July 1, 2014, acquired all of the outstanding
common stock of LGM Co. Ltd., from LGM's shareholders, which
represents  813,747 shares of LGM common stock, in exchange for
47,352,450 shares of the Company's common stock pursuant to the
Share Swap Agreement entered into by and between LGM and the
Company.  Pursuant to the Agreement, LGM became a wholly-owned
subsidiary of the Company.

On Sept. 17, 2014, the Company filed with the U.S. Securities and
Exchange Commission the financial statements of the business
acquired and pro forma financial information.

LGM Co. reported net income of $121,188 on $579,071 of revenues
for the year ended Dec. 31, 2013, compared to net income of
$30,843 on $398,025 of revenues in 2012.  As of Dec. 31, 2013, the
Company had $1 million in total assets, $497,055 in total
liabilities and $510,072 in total equity.

A copy of LGM Co.'s financial statements is available at:

                        http://is.gd/uHxFju

A copy of the consolidated pro forma balance sheets is available
for free at http://is.gd/lgqybU

                         About Leo Motors

Headquartered in Hanam City, Gyeonggi-do, Republic of Korea, Leo
Motors, Inc., a Nevada corporation, is currently engaged in the
research and development of multiple products, prototypes and
conceptualizations based on proprietary, patented and patent
pending electric power generation, drive train and storage
technologies.

In 2011, the Company determined its investment in Leo B&T Inc. an
investment account was impaired and recorded an expense of
$4.5 million.  During the 2012 year the Company had a net non
operating income largely from the result of the forgiveness of
debt for $1.3 million.

Leo Motors reported a net loss of $1.24 million on $0 of revenues
for the year ended Dec. 31, 2013, as compared with a net loss of
$1.88 million on $25,605 of revenues during the prior year.

As of June 30, 2014, the Company had $1.15 million in total
assets, $1.92 million in total liabilities and a $766,257 total
deficit.

John Scrudato CPA, in Califon, New Jersey, 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 incurred significant losses since inception
of $16,871,850.  This and other factors raise substantial doubt
about the Company's ability to continue as a going concern.


LPL HOLDINGS: Moody's Affirms Ba2 CFR & Secured Bank Debt Rating
----------------------------------------------------------------
Moody's Investors Service affirmed LPL Holdings, Inc.'s Ba2
corporate family rating and senior secured bank credit facility
rating, following the company's announced plan to upsize its
revolving credit facility by $150 million (to $400 million from
$250 million), and extend the maturity of its revolver and $459
million term loan A by 2.5 years through September 2019. The
rating outlook remains stable.

Ratings Rationale

Moody's believes that over the next 3-6 months, LPL is likely to
utilize the $150 million incremental borrowing capacity from the
up-sized revolver to repurchase its common stock, and potentially
fund modest M&A activities. Other things being equal, this
increased debt would result in a modest increase in the company's
debt leverage over the existing 3.6x debt/EBITDA for the trailing
12 months ended June 2014. However, in the meantime, Moody's would
expect the company's demonstrated operating leverage to generate
improved EBITDA and cash flows, which would counterbalance the
effect of revolver draws as they occur, or relatively shortly
thereafter. Accordingly, Moody's expects the company to maintain
its debt leverage at an appropriate level for its existing rating,
and in accordance with its capital management plan.

Moody's does not expect the company to draw down upon any of the
remaining $250 million that would be available under the up-sized
revolver, consistent with its past practice of maintaining such a
capacity in reserve. A significant increase in debt above the
anticipated $150 million increase would be viewed negatively,
unless accompanied by further demonstrated and sustainable
incremental cash flow benefits that would offset the effects of a
higher debt load on Moody's measure of the company's debt/EBITDA.

The planned extended maturity of the revolver and $459 million
term loan A is credit-positive because it defers refinance risk.
LPL's $1.07 billion term loan B will remain unchanged, and is
scheduled to mature in March 2019.

The stable rating outlook reflects Moody's expectations that LPL
will continue to report stable and potentially increased profit
margins and will adhere to its capital management plan, thereby
maintaining its debt leverage at an appropriate level for its
existing rating. Moody's expects that any significant changes to
the capital management plan will be infrequent and give full
consideration to the interests of creditors.

What Could Change the Rating -- UP

The retention of improved cash flows from stronger profitability
that would substantially improve the company's debt leverage and
reduce its significant deficit of tangible common equity could
bring upward rating pressure. The demonstration of a rigorous,
well-functioning risk management and regulatory compliance
infrastructure would be a necessary pre-requisite for an upgrade.

What Could Change the Rating -- DOWN

A prolonged deterioration in debt leverage above its current level
would likely result in a downgrade. A reduction in corporate cash
below $200 million could give rise to liquidity concerns and would
be viewed negatively. A significant failure in technology, cost
control or regulatory compliance would also give rise to downward
rating pressure.

The principal methodology used in this rating was Global
Securities Industry Methodology published in May 2013.


MARTIFER SOLAR: Parent Objects to Funding Committee Carve Out
-------------------------------------------------------------
Martifer Solar, Inc., the parent company of Martifer Solar USA,
Inc., and Martifer Aurora Solar LLC, filed with the U.S.
Bankruptcy Court for the District of Nevada an objection to the
motion of the Official Committee of Unsecured Creditors for
issuance of order requiring the Parent to fund the Committee carve
out pursuant to the final DIP order.

The Committee says in a court filing dated Sept. 8, 2014, that
pursuant to a stipulation authorizing the Debtors to obtain DIP
financing dated May 21, 2014, the Parent agreed to fund the
Committee professional fee amount of $325,000.  The DIP
Stipulation was incorporated into and approved by court order
entered on May 23, 2014.

Under the DIP Stipulation, the Parent agreed to fund the Carve Out
upon the later of: (i) the closing date of the sale of
substantially all of the Debtor's assets; or (ii) the last date of
the term of the DIP loan.  The Debtors' sale of substantially all
of its assets to BayWa r.e. Solar LLC closed on July 24, 2014, and
the DIP agreement terminated on its own accord on
June 20, 2014.  Pursuant to the terms of the final DIP order, the
Parent's obligation to fund the Carve Out is now due and owing.
The Committee requested that the Parent fund the Carve Out, and
the Parent has refused to date.

A copy of the motion is available for free at:

                        http://is.gd/yfQqaP

The Parent responded in a court filing dated Sept. 17, 2014, that
"like the Debtors in their subrogation litigation with MSI, the
UCC now seeks the benefit of its deal with MSI without having to
comply with any of the corresponding obligations.  Specifically,
MSI did not unilaterally agree to fund $325,000 to the UCC for
professional fees for no consideration.  Rather, MSI bargained for
releases of the estates' Chapter 5 claims under the Bankruptcy
Code."

The Parent claims that in the Motion, UCC seeks to compel payment
of the UCC Carve Out without complying with its obligations under
the term sheet, that is, delivering releases to the Parent.  The
express terms of the Term Sheet required its implementation by
court order, which has not happened.  As a result, the Parent
cannot be compelled to fund the UCC Carve Out.  The UCC may seek
payment from the Debtors.

A copy of the Objection is available for free at:

                         http://is.gd/cFDv2s

                             Sale Order

On July 1, 2014, the Court authorized the sale of substantially
all of the Debtors ' assets.  BayWa was named as the prevailing
purchaser of the Debtors' assets after no other qualified bids for
the assets were received.

The Court ruled that objections to the sale motion were denied.
Martifer Solar, in a court filing dated June 26, 2014, defended
its motion to sell its assets against objections filed by Tier One
Solar LLC, Suddath Global Logistics, LLC, Martifer Solar, Inc.,
and the Committee.  In a filing dated June 23, 2014, the Committee
asked the Court to compel the Parent to comply with the terms of
the binding term sheet with respect to allocation of sale proceeds
with unsecured creditors.

A copy of the Debtor's filing indicating how it resolved the
objections is available for free at:

                         http://is.gd/33u8v3

                    Cathay Bank Settlement Okayed

On July 11, 2014, the Court approved the Debtors' settlement
agreement with Cathay Bank.

The Debtors sought June 30, 2014, the Court's approval of the
Settlement Agreement, saying that approval of the agreement is a
condition by Cathay and BayWa in connection with the asset sale.

The Settlement Agreement provides that, on the date of the sale
closing, Cathay will have an allowed and approved secured claim
against the Debtors' estates in the amount of $4.70 million which
is not subject to defense or offset, and the proof of claim will
be deemed amended and fully allowed as a secured claim against the
Debtors' bankruptcy estates in the amount of the Cathay secured
claim.  Cathay will have an allowed general unsecured claim for
any amounts that are due or ever become due under, among other
things, the loan documents or the Settlement Agreement, in excess
of the Cathay secured claim.

A copy of the Settlement Agreement is available for free at:

                      http://is.gd/FA0Ecc

On July 7, 2014, the Parent objected to the approval of the
Settlement Agreement, saying that "it appears the Settlement
Agreement limits, waives and releases MSI's subrogation rights and
rights to the proceeds from the sale to BayWa."  According to the
Parent, the Settlement Agreement is not clear regarding the effect
of Cathay's releases on the Parent's subrogation rights.  The
Parent claimed that when it made direct, post-petition payments to
Cathay of approximately $2.5 million on behalf of the Debtors, all
parties understood its right to subrogation as a successor to
Cathay.

On July 8, 2014, the Debtors asked the Court to dismiss the
objection, saying that it is centered on the Parent's vague fears
of the effect that the Settlement Agreement might have on its
purported subrogation rights as to the Cathay loan.

According to the Debtors, the guaranty and the subordination
agreement executed by the Parent clearly and completely waived any
rights it may have to prohibit Cathay treating its collateral in
any manner the bank should desire.  "Having made those agreements,
MSI is now estopped from asking this Court to revise its
previously made agreements with Cathay . . . . In any event, MSI
has already protected whatever subrogation rights it may have in
the sale assets, including the Cathay collateral, by the language
that it requested be inserted in the sale order," the Debtors
said.

                          About Martifer

Martifer Solar USA, Inc., and Martifer Aurora Solar LLC filed
separate Chapter 11 bankruptcy petitions (Bankr. D. Nev. Case Nos.
14-10357 and 14-10355) in Las Vegas on Jan. 21, 2014.  Martifer
Solar USA, which is based in Los Angeles, California, estimated
$10 million to $50 million in assets and liabilities.

Bankruptcy Judge August B. Landis oversees the case.  The Debtors
tapped Brett A. Axelrod, Esq., and Micaela Rustia Moore, Esq., at
Fox Rothschild LLP, in Las Vegas, as counsel, and Armory
Consulting Co. as restructuring and financial advisor.  The
Debtors tapped Foley Hoag LLP as special Massachusetts litigation
counsel with respect to a pending litigation relating to EPG
Solar, LLC; and Foley & Lardner LLP as special solar counsel.

The Debtors also won approval to hire FTI and Michael Tucker, a
senior managing director of FTI, to serve as the company's chief
restructuring officer.

Cathay Bank, a prepetition lender, is represented by Michael
Gerard Fletcher, Esq., and Reed S. Waddell, Esq., at Frandzel
Robins Bloom & Csato, L.C.; and Natalie M. Cox, Esq., and Randolph
L. Howard, Esq., at Kolesar & Leatham.

Martifer Solar Inc., the proposed DIP Lender, and ultimate parent
of the Debtors, is represented by Samuel A. Schwartz, Esq., and
Bryan A. Lindsey, Esq., at The Schwartz Law Firm Inc.

Tracy Hope Davis, the U.S. Trustee for Region 17, appointed
five creditors to serve on the Official Committee of Unsecured
Creditors.  The Committee has retained Pachulski Stang Ziehl &
Jones LLP's Bradford J. Sandler, Esq., Shirley S. Cho, Esq., Jason
Rosell, Esq., and Patricia Jeffries, Esq.; and Larson & Zirzow,
Matthew C. Zirzow, Esq., Zachariah Larson, Esq., and Carey
Shurtliff, Esq., as counsel.


MF GLOBAL: Labaton Defectors Make Play for Lead Role in Suit
------------------------------------------------------------
Law360 reported that MF Global investors asked a New York federal
court to appoint a firm recently started by four partners from
Labaton Sucharow LLP as one of two lead firms for the plaintiffs
and to grant class certification in the litigation, which stems
from a collapse that wiped out $1.6 billion worth of customer
equity.  According to the report, the investors, via their
attorneys from startup Bleichmar Fonti Tountas & Auld LLP, said
the case meets all four tentpoles for Rule 23 class certification,
including the crucial element of commonality.

                         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.


MOMENTIVE PERFORMANCE: Judge Denied Stay Pending Plan Appeal
------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnist for Bloomberg
News, reported that U.S. Bankruptcy Judge Robert D. Drain in White
Plains, New York, refused to grant a stay pending the appeal filed
by some bondholders from the judge's ruling on Momentive
Performance Inc.'s plan of reorganization.

To recall, Judge Drain conditionally confirmed Momentive's plan in
August, but ruled that a make-whole isn't owing because debt
repayment was due to automatic acceleration resulting from
bankruptcy, not from voluntary repayment before maturity.
According to the Bloomberg report, senior secured creditors
opposed that ruling and sought a stay of the same ruling pending
its appeal.

Judge Drain has formally confirmed Momentive's reorganization plan
last week.

                   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.


MOMENTIVE PERFORMANCE: Bondholders to Appeal Confirmation Order
---------------------------------------------------------------
Bondholders groups unhappy as to how they will be paid under
Momentive Performance Materials Inc.'s Chapter 11 reorganization
plan said they would appeal a federal judge's decision approving
the plan.

Late last week, notices of appeal had been filed by U.S. Bank NA,
trustee to the company's lowest-ranking bonds, and by BOKF, NA and
Wilmington Trust, trustees for first-lien and 1.5-lien
bondholders, respectively.

U.S. Bankruptcy Judge Robert Drain previously ruled against a
group of senior subordinated bondholders, led by U.S. Bank, which
is owed $381.9 million.

The group had questioned the treatment of its debt under the plan,
saying it should have been treated equally to the second-lien
bondholders, which backstopped a new $600 million rights offering.
The bankruptcy judge, however, ruled the treatment was
appropriate.

Judge Drain, meanwhile, did not allow the first-lien and 1.5-lien
bondholders to change their votes to ones in favor of the plan.

The bondholders rejected the plan earlier this year so that they
could collect "make-whole" premium, a lump-sum payment that
becomes due under a financing deal when repayment occurs before
the stated maturity date.  Had they voted in favor of the plan,
they would have been repaid in full with cash.  Under the revised
plan, these groups will only be repaid with replacement notes as
most of them rejected the plan.

Last month, Judge Drain refused to confirm an initial version of
the restructuring plan, saying he would only confirm it if
Momentive revised the plan by offering top-ranking bondholders
with higher interest on notes in the reorganized company.

On Sept. 11, the bankruptcy judge signed off on an order
confirming Momentive's revised plan, which now offers first-lien
and 1.5-lien bondholders with additional interests of 0.5% and
0.75%, respectively.

The revised plan, which cuts debt to less than $1.3 billion from
$4 billion, also offers to pay in full claims held by general
unsecured creditors.  Meanwhile, existing equity will be
extinguished.

The Sept. 11 court order also approved the terms of the exit
facility that will be provided to Momentive under an asset-based
revolving credit agreement dated April 15, 2014.

A full-text copy of the court order is available without charge at
http://is.gd/zU9sfF

Also last week, Judge Drain denied the motions separately filed by
the trustees to put Momentive's plan on hold while they appeal his
decision.  The judge said "the legal and factual bases set forth
in the motions do not meet the standards for staying entry of a
confirmation order pending appeal."

                   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.


MSI CORP: Court Approves Disclosure Statement Explaining Plan
-------------------------------------------------------------
Judge Jeffery A. Deller of the U.S. Bankruptcy Court for the
Western District of Pennsylvania approved MSI Corporation's
Disclosure Statement accompanying its Plan of Reorganization dated
July 18, 2014.

The deadline to vote to accept or reject the Plan is Oct. 3, 2014.

The Court will convene a hearing on October 7, 2014, at 9:00 a.m.
to consider confirmation of the Plan.

The Debtor proposes to pay 100% of all Allowed Claims of creditors
and claimants in its Plan.

Prior to the entry of the Order, the Debtor filed an amended
Disclosure Statement to provide additional explanations.

The Disclosure Statement was amended to note that the estimated
pool of General Unsecured Claims does not account for the
contingent and unliquidated Claims of the Commonwealth of
Pennsylvania - Department of Community and Economic Development or
the Westmoreland County Industrial Development Corporation.  The
claims may arise in relation to a 2009 grant provided by the
Commonwealth to applicant Westmoreland for assistance in an amount
not to exceed $1,250,000 for the construction of road improvements
that benefitted the Debtor, Contract # C000044971.

In connection with the grant, the Debtor was required to make
certain capital expenditures and hire 50 employees within five
years.  Due to circumstances beyond the Debtor's control, the
Debtor was unable to hire the required amount of employees by the
end of the five-year term.  As a result, the Commonwealth and
Westmoreland may have recourse against the Debtor and could
potentially assert Claims against the Debtor in relation to the
grant.

If asserted, the Claims could be as high as the amount of the
grant, although the Debtor disputes the propriety and validity of
that Claim/recourse.  The Department of Community and Economic
Development has other options available to it as well, including
asserting a small Claim, waiving all Claims or extending the time
by which the Debtor must hire 50 new employees.

The Plan does not contemplate the allowance of a Claim relating to
the grant.  The assertion and allowance of a significant claim by
the Commonwealth or Westmoreland would create greater cash demands
on the Debtor and could impair its ability to implement or
consummate its Plan, asserts Michael J. Roeschenthaler, Esq., at
McGuireWoods LLP, in Pittsburgh, Pennsylvania.

A blacklined copy of the Amended Disclosure Statement is available
at no extra charge at:

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

                         About MSI Corp.

MSI Corporation filed a bare-bones Chapter 11 petition (Bankr.
W.D. Pa. Case No. 13-22457) in Pittsburgh on June 7, 2013.  Judge
Jeffery A. Deller presides over the case.  The Vandergrift,
Pennsylvania-based company estimated at least $10 million in
assets and less than $10 million in liabilities.

Albert's Capital Services LLC is the Debtor's chief restructuring
officer.  Michael J. Roeschenthaler, Esq., and Scott E. Schuster,
Esq., at McGuireWoods LLP, in Pittsburgh, serve as the Debtor's
counsel.  Geary & Loperfito LLC serves as special counsel.

No unsecured creditors was formed because no one responded to the
U.S. Trustee's communication for service on the committee.


MSI CORP: May Access Cash Collateral Through October 31
-------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania
approved a fourth stipulation among MSI Corporation, First
Commonwealth Bank and The "M" Line Railroad Company.

The parties agreed to extend the Debtor's use of the Bank's cash
collateral, nunc pro tunc from June 10, 2014, through October 31,
2014.

As of June 7, 2013, MSI was indebted to the bank for $3,618,695,
excluding attorneys' fees and expenses.  MSI's obligations to the
bank are cross-collateralized and secured by duly-perfected,
first-position liens against all of its real estate and business
assets, including without limitation cash collateral as defined in
Section 363(a) of the Bankruptcy Code.

The Third Cash Collateral Stipulation extended the use of cash
collateral through June 9, 2014.

In their Fourth Stipulation, the parties reveal that they had
significant, good faith discussions concerning a consensual
Chapter 11 Plan, and are cautiously optimistic that the Fourth
Stipulation will be the last cash collateral stipulation required
prior to their relationship being governed by a consensual
confirmed plan.

A copy of the budget is available for free at:

      http://bankrupt.com/misc/MSICorp_Budget_08282014.pdf

                         About MSI Corp.

MSI Corporation filed a bare-bones Chapter 11 petition (Bankr.
W.D. Pa. Case No. 13-22457) in Pittsburgh on June 7, 2013.  Judge
Jeffery A. Deller presides over the case.  The Vandergrift,
Pennsylvania-based company estimated at least $10 million in
assets and less than $10 million in liabilities.

Albert's Capital Services LLC is the Debtor's chief restructuring
officer.  Michael J. Roeschenthaler, Esq., and Scott E. Schuster,
Esq., at McGuireWoods LLP, in Pittsburgh, serve as the Debtor's
counsel.  Geary & Loperfito LLC serves as special counsel.

No unsecured creditors was formed because no one responded to the
U.S. Trustee's communication for service on the committee.


MSI CORP: Plan Exclusivity Period Extended Through November 15
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania
extended MSI Corporation's plan exclusivity period through and
including November 15, 2014.

                         About MSI Corp.

MSI Corporation filed a bare-bones Chapter 11 petition (Bankr.
W.D. Pa. Case No. 13-22457) in Pittsburgh on June 7, 2013.  Judge
Jeffery A. Deller presides over the case.  The Vandergrift,
Pennsylvania-based company estimated at least $10 million in
assets and less than $10 million in liabilities.

Albert's Capital Services LLC is the Debtor's chief restructuring
officer.  Michael J. Roeschenthaler, Esq., and Scott E. Schuster,
Esq., at McGuireWoods LLP, in Pittsburgh, serve as the Debtor's
counsel.  Geary & Loperfito LLC serves as special counsel.

No unsecured creditors was formed because no one responded to the
U.S. Trustee's communication for service on the committee.


MUSCLEPHARM CORP: Enters Into $8 Million Credit Facility
--------------------------------------------------------
MusclePharm Corporation had entered into a revolving credit
facility with ANB Bank for up to $8 million.

The Note matures on Sept. 12, 2017.  Loans made pursuant to Loan
Agreement are secured by (i) a security interest in all of the
Company's inventory, (ii) all of the Company's accounts receivable
or other payments due, (iii) all the Company's general intangible
properties, including, but not limited to, tax refunds,
intellectual property and customer lists, and (iv) all the
Company's equipment, pursuant to the Security Agreement entered
into by and between the Company and ANB.

Beginning upon execution of the Loan Documents and until Sept. 13,
2014, interest on any unpaid balance will accrue at a rate of
5.250% per annum.  After that date the interest rate may change
based upon the following calculation:

   "The interest rate, after September 13, 2014 (the "Variable
    Interest Rate"), shall be based upon the Wall Street Journal
    U.S. Prime Rate (as defined in the Loan Documents).  The
    Variable Interest Rate shall be Current Index (as defined in
    the Loan Documents) plus 2%.  At no point will the Variable
    Interest Rate be below 5.250%."

"We are pleased to have secured this credit facility, reflecting
the strength and growth of MusclePharm," said Brad Pyatt, CEO of
MusclePharm.  "Access to this additional source of capital
provides us with further flexibility as we implement our growth
initiatives."

Additional information is available for free at:

                        http://is.gd/TVzxUe

                         About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm reported a net loss after taxes of $17.71 million in
2013, a net loss after taxes of $18.95 million in 2012 and a net
loss of $23.28 million in 2011.

As of June 30, 2014, the Company had $66.93 million in total
assets, $28.83 million in total liabilities and $38.09 million in
total stockholders' equity.


NAARTJIE CUSTOM: Has Interim DIP & Cash Collateral Approval
-----------------------------------------------------------
Judge William T. Thurman of the U.S. Bankruptcy Court for the
District of Utah, Central Division, gave Naartjie Custom Kids,
Inc., interim authority to obtain financing from a debtor-in-
possession loan extended by Salus Capital Partners, LLC, and from
the use of the cash collateral securing its prepetition
indebtedness.

The Debtor has interim authority to tap a portion of the
$1,000,000 secured superpriority postpetition loans from Salus, as
administrative and collateral agent for a consortium of lenders.

The Salus DIP Loan accrues interest at prime rate plus 9.75% with
an interest rate floor of 13%.  During the continuance of an event
of default, all DIP Loans, interest, fees and other amounts
outstanding will bear interest at a rate that is 3.50% per annum
greater than the rate otherwise applicable to the DIP Loans.

The DIP Loan terminates upon the earliest of (i) Dec. 31, 2014,
(ii) the effective date of a plan of reorganization confirmed by
the Bankruptcy Court, (iii) consummation of the sale of all or a
substantial portion of the assets of the Borrower under section
363 of the Bankruptcy Code, (iv) 45 days after the Petition Date
if the Final Order has not been entered by that date, or (iv) the
occurrence of an event of default under the DIP Facility after the
expiration of all applicable grace or cure periods.

Adequate protection will be afforded to the Prepetition Lenders in
the form of (i) administrative expense priority status, (ii)
replacement liens on all postpetition assets, to the extent of the
diminution of value of any prepetition collateral and the use of
cash collateral, in each case, junior only to the liens of the
Agent and Lenders under the DIP Facility, and (iii) payment of
interest on the Prepetition Debt and professional fees and
expenses, all accruing and payable under the Prepetition Credit
Agreement and payable monthly in arrears and payments of principal
on the Prepetition Debt from proceeds of collateral.

The DIP Lender lays out the following milestones:

   * No later than Sept. 19, 2014, the Debtor will have entered
     into an acceptable Agency Agreement with a nationally known
     retail liquidation firm for the closure of its retail store
     locations acceptable to the DIP Agent, which Agency Agreement
     will serve as a stalking horse bid in an auction for the
     right to conduct the store closing sales at the Closing
     Stores.

   * No later than Sept. 22, 2014, the Debtor will have filed with
     the Bankruptcy Court (i) a motion for approval of bidding
     procedures, and (ii) a motion seeking approval of the Agency
     Agreement under Section 363 of the Bankruptcy Code and the
     conduct of the liquidation sales, all of the same to be
     satisfactory in form and substance to the Agent and the
     Lenders in their sole discretion.

   * Bankruptcy Court approval of the Store Closing Bidding
     Procedures Motion by no later than Oct. 1, 2014.

   * The conduct of the Auction for the right to conduct the
     closing of the Closing Stores by no later than Oct. 2, 2014.

   * Bankruptcy Court approval of the Store Closing Sale Motion by
     no later than Oct. 3, 2014.

   * Closing of the transaction contemplated by the Agency
     Agreement by no later than one days after the entry of the
     Store Closing Sale Order.

The Debtor relates that , prior to the Petition Date, it had an
agreement with Victory Park Capital Advisors, LLC, to lend the
Debtor $8,500,000.  Despite Victory Park's agreement to provide a
DIP loan, and absent any material change in the Debtor's financial
condition, the day after the Petition Date, Victory Park informed
the Debtor that it had changed its mind and would no longer find a
DIP loan.  The Debtor immediately began negotiations with Salus,
its senior secured lender, to provide working capital to the
Debtor while the parties work to facilitate an orderly
liquidation.

Victory Park tells the Court that the Debtor's withdrawal contains
misleading and inaccurate factual assertions against Victory Park.
Victory Park says it never had an agreement with respect to
postpetition financing but that it was negotiating and working
towards an agreement, but no agreement had ever been finalized or
executed.

The hearing to consider final approval of the DIP Facility is
scheduled for Oct. 1, 2014, at 10:00 a.m. (Mountain).  Objections
must be made on or before Sept. 29.

The Debtors are represented by:

         Annette W. Jarvis, Esq.
         Peggy Hunt, Esq.
         Michael F. Thomson, Esq.
         Jeffrey M. Armington, Esq.
         DORSEY & WHITNEY LLP
         136 South Main Street, Suite 1000
         Salt Lake City, UT 84101-1685
         Tel: (801) 933-7360
         Fax: (801) 933-7373
         E-mail: jarvis.annette@dorsey.com
                 hunt.peggy@dorsey.com
                 thomson.michael@dorsey.com
                 armington.jeff@dorsey.com

The DIP Agent and Prepetition Agent is represented by:

         Jeffrey M. Wolf, Esq.
         GREENBERG TRAURIG, LLP
         One International Place
         Boston, MA 02110
         Tel: (617) 310-6041
         Fax: (617) 279-8447
         E-mail: wolfje@gtlaw.com

            -- and --

         Kenneth L. Cannon II, Esq.
         DURHAM JONES & PINEGAR, P.C.
         111 East Broadway, Suite 900
         Salt Lake City, UT 84111
         Tel: (801) 297-1201
         E-mail: kcannon@djplaw.com

Victory Park is represented by:

         James W. Anderson, Esq.
         CLYDE SNOW &SESSIONS
         One Utah Center, Thirteenth Floor
         201 South Main Street
         Salt Lake City, Utah 84111
         Tel: (801) 322-2516
         Fax: (801) 521-6280
         E-mail: jwa@clydesnow.com

                    About Naartjie Custom Kids

Naartjie Custom Kids, Inc., which designs, manufactures and sells
children's clothing, accessories and footwear for ages newborn
through 10 years old, sought protection under Chapter 11 of the
Bankruptcy Code on Sept. 12, 2014 (Case No. 14-29666, Bankr. D.
Utah).  The case is assigned to Judge William T. Thurman.

The Debtor's counsel is Annette W. Jarvis, Esq., Jeffrey M.
Armington, Esq., Benjamin J. Kotter, Esq., and Michael F. Thomson,
Esq., at Dorsey & Whitney LLP, in Salt Lake City, Utah.


NET ELEMENT: Grants CEO 1.4 Million in Restricted Shares
--------------------------------------------------------
Per recommendation of the Compensation Committee of the Board of
Directors of Net Element, Inc., the Board of Directors approved
and authorized the issuance to Oleg Firer, the chief executive
officer of the Company, 1,438,137 restricted shares of common
stock of the Company to compensate for Oleg Firer's efforts and
results of effectuating the Company's debt and equity financings
in the first half of 2014.

                   Amends Registration Statement

Net Element filed a post-effective amendment to its registration
statement on Form S-4 relating to the public offering by the
Company of shares of common stock upon exercise of certain
warrants in order to maintain the effectiveness of the Prior
Registration Statement.

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., a Delaware
corporation.

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. 16,
2014, the closing sale prices of the Company's common stock and
the Warrants were $2.60 and $0.17, respectively.

                         About Net Element

Miami, Fla.-based Net Element International, Inc. (formerly Net
Element, Inc.,) currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

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.


NII HOLDINGS: Files for Chapter 11 to Restructure Debt
------------------------------------------------------
NII Holdings Inc., a provider of Nextel-branded wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina, sought bankruptcy protection after losing
$999 million from Latin American operations in the first half of
the year.  The company aims to continue negotiations with lenders
regarding a restructuring of their credit agreements.

The company's operations in Brazil resulted to operating revenue
of $941 million for the six months ended June 30, 2014, which
represented 49% of NII's consolidated operating revenues.   As of
June 30, 2014, NII Brazil had assets of $3.8 billion and
liabilities of $3.4 billion.

For the six months ended June 30, 2014, NII Mexico recorded
operating revenues of $749 million, representing 39% of revenues.
As of June 30, 2014, utilizing unaudited book values, NII Mexico
had assets of $2.4 billion and liabilities of $1.5 billion.

For the six months ended June 30, 2014, NII Argentina recorded
operating revenues of $221 million, representing 11% of revenues.
As of June 30, 2014, NII Argentina had assets of $371 million and
liabilities of $132 million.

In connection with the strategic evaluation of its business, in
August 2014, NII sold its operations in Chile and the year before
NII sold its operations in Peru.  NII Chile accounted for less
than 2% of revenue, and operations in Peru accounted for 6% of
revenue.

During the bankruptcy cases, debtor International Telecom S.C.A.
intends to continue to transfer funds to NII Brazil and NII
Mexico, as needed, in the form of intercompany loans based on
forecasts prepared by the Debtors.  These forecasts are part of a
long-term business plan to return these companies to
profitability.  Based on these forecasts, the Debtors anticipate
that during the remainder of 2014, International Telecom could
loan up to $56 million to NII Brazil and up to $35 million to NII
Mexico.

                   Prepetition Capital Structure

As of June 30, 2014, the Debtors had approximately $4.35 billion
in principal amount of senior unsecured notes outstanding
comprised of:

    * $800 million in principal amount of 10% senior unsecured
Notes issued in August 2009 by NII Capital Corp., due in 2016 (the
"10% Notes");

   * $500 million in principal amount of 8.875% senior unsecured
Notes issued in December 2009 by NII Capital due in 2019 (the
"8.875% Notes");

   * $1.45 billion in principal amount of 7.625% senior unsecured
Notes issued in March and December 2011 by NII Capital due in 2021
(the "7.625% Notes");

   * $900 million in principal amount of 11.375% senior unsecured
Notes issued in February and April 2013 by International Telecom,
due in 2019 (the "11.375% Notes"); and

   * $700 million in principal amount of 7.875% senior unsecured
Notes issued in May 2013 by International Telecom, due in 2019
(the "7.875% Notes").

Other than the Notes, only NII Holdings and Nextel International
(Services), Ltd. ("NIS") have a material amount of liabilities
owed to third parties.  For NII Holdings, its material third-party
liabilities (other than its guarantee obligations in respect of
the Notes) are primarily related to (a) deferred tax liabilities,
(b) certain liabilities associated with global supply agreements
to which NII Holdings is party, (c) obligations owed to NII
Holdings' employees, (d) obligations under the lease for the
Headquarters Office and (e) certain contingent indemnification
liabilities arising out of the sale of NII Peru in 2013. For NIS,
its material third-party liabilities (other than its guarantee
obligations in respect of the NII Capital Notes) are primarily
related to certain third party service providers and other costs
and expenses of operating the Debtors. The other Debtors generally
have negligible amounts of third-party liabilities.

                         Decision to File

Daniel E. Freiman, Treasurer, Vice President - Corporate
Development & Investor Relations of NII, explained in a court
filing that because of the difficulties experienced by the
Operating Companies, including the impact of the overall decline
in the size of the subscriber base and average revenue per
subscriber, increased capital needs and slower than expected
growth in customers on the 3G Network, the Debtors determined in
early 2014 that they would not have sufficient cash to continue
making interest payments on the Notes while continuing to fund the
capital expenditures and operational needs of the Operating
Companies.

In an effort to find a solution to their future liquidity issues,
towards the end of the first quarter of 2014, the Debtors began to
engage certain holders of significant amounts of the Notes and
their respective legal and financial advisors (collectively, the
"Majority Noteholder Group") regarding a potential restructuring
of the Notes.

On March 4, 2014, Aurelius Capital Management, L.P. sent a letter
to Debtors NII Holdings, NII Capital, NII Global and non-debtors
McCaw International Brazil, LLC, Airfone Holdings, LLC and Nextel
International (Uruguay), LLC (collectively, the "Former
Guarantors") alleging that (a) the inter-company transfer of
equity interests of the Former Guarantors from NII Global to
International Telecom in 2009 violated the terms of the indenture
governing the 10% Notes and the 8.875% Notes, (b) the release of
the Former Guarantors in 2009 from their guarantees of the 10%
Notes and the 8.875% Notes were ineffective and such guarantees
remain in full force and effect and (c) certain intercompany
transactions undertaken in connection with the issuance of the
11.375% Notes and the 7.875% Notes apparently constituted
fraudulent transfers.

On March 19, 2014, Cede & Co., in its capacity as the holder of
record of the 8.875% Notes, delivered on behalf of Aurelius, in
its capacity as the purported beneficial owner of more than 25% of
the 8.875% Notes, to NII Holdings and NII Capital a notice of
default alleging that certain internal corporate restructuring
transactions undertaken by NII in 2009 violated the terms of, and
constitute a default under, the indenture for the 8.875% Notes.

On March 25, 2014, the Majority Noteholder Group delivered to
Wilmington Trust Company, then-trustee under the 8.875% Notes
Indenture, a waiver of the alleged defaults asserted in the
Aurelius Notice of Default, which was effective for an initial 30-
day period and later extended for an additional 45 days from April
23, 2014.

In an effort to avoid unnecessary litigation expenses and distract
key personnel from focusing on NII's business and a holistic
restructuring of the Notes, in April 2014, the Debtors opened
discussions with a group of minority holders of NII Capital Notes
(the "Aurelius Group") led by Aurelius regarding (a) the
allegations in the Aurelius Letter and the Aurelius Notice of
Default and (b) a potential restructuring of the Notes.

The advisors for the Majority Noteholder Group and the Aurelius
Group were provided with access to a data room containing a
voluminous body of information and documentation relating to the
Debtors' and the Operating Companies' operations and the Debtors
responded to, and participated in numerous meetings regarding,
extensive diligence requests from such advisors.  On June 18,
2014, the Debtors, the Aurelius Group and the Majority Noteholder
Group entered into a forbearance agreement with respect to certain
alleged defaults asserted by Aurelius.  The Forbearance Agreement
expired as of August 15, 2014, the same day on which NII publicly
announced that it had elected not to pay approximately $118.8
million in interest due on August 15, 2014 on the Notes, and
entered a 30-day grace period during which NII could elect to make
the interest payments and cure any potential non-payment claims.

At the same time that the Debtors were in discussions with the
Majority Noteholder Group and the Aurelius Group, the Debtors also
began discussions with certain significant lenders of NII Brazil
and NII Mexico regarding potential covenant relief or other
modifications to the CDB Agreements and certain other local
lending agreements of those operations.  On June 27, 2014, CDB
granted waivers to NII Brazil and NII Mexico, the borrowers under
the CDB Agreements, of their obligations to maintain compliance,
as of the calculation date of June 30, 2014, with certain
financial covenants under the applicable CDB Agreements.  In
August 2014, NII Brazil, NII Mexico and CDB reached a preliminary
agreement in principle regarding the terms of proposed amendments
to the CDB Agreements, which agreement in principle is presently
awaiting final approval before proceeding to definitive
documentation.

Similarly, prior to the Petition Date, the Debtors engaged in
discussions with NII Brazil's two major local lenders, Banco do
Brasil S.A. ("BdB") and Caixa Economica Federal ("Caixa"),
regarding potential waivers and amendments to the terms of the
credit agreements with these lenders that would address the
financial covenants and amortization schedule under each
agreement.  These discussions have resulted in an agreement in
principle with BdB that is awaiting final approval, and
discussions remain ongoing with Caixa.

Even as these various discussions with significant creditor
constituencies were ongoing, and despite NII's best efforts to
mitigate its losses and stabilize operations, NII Brazil and NII
Mexico continued to experience a number of challenges in the first
half of 2014 related to the various factors.  For the six months
ended June 30, 2014, NII experienced a consolidated net loss of
approximately $999 million on operating revenues of approximately
$1.9 billion.  As of June 30, 2014, utilizing unaudited book
values, on a consolidated basis NII had assets of approximately
$7.4 billion and liabilities of approximately $8.0 billion.  As of
June 30, 2014, utilizing unaudited book values, on a consolidated
basis the Debtors had assets of approximately $3.79 billion and
liabilities of approximately $4.58 billion.

Accordingly, given these continuing losses and the expiration of
the 30-day grace period during which NII could elect to make the
August interest payments on the Notes and cure any potential non-
payment claims, and after engaging in extensive negotiations with
the Majority Noteholder Group and the Aurelius Group during the
months leading up to the Petition Date, the Debtors determined to
commence these bankruptcy cases to complete the negotiation of,
and propose and confirm, a plan of reorganization.

                         First Day Motions

To minimize the adverse effects of filing for chapter 11
protection and to enhance their ability to consummate a successful
restructuring and confirm a chapter 11 plan, the Debtors have
filed a number of pleadings requesting various kinds of "first
day" relief.

The Debtors filed motions to:

   -- extend the deadline to file schedules of assets and
      liabilities and statements of financial affairs;

   -- confirm protections of Sections 362, 365 and 525 of the
      Bankruptcy Code;

   -- pay prepetition wages and benefits;

   -- pay certain prepetition taxes;

   -- renew their existing insurance policies;

   -- continue using their cash management system; and

   -- establish procedures for transfers of equity securities.

                        About NII Holdings

NII Holdings Inc. through its subsidiaries provides wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina.  NII Holdings has the exclusive right to use
the Nextel brand in its markets pursuant to a trademark license
agreement with Sprint Corporation and offers unique push-to-talk
("PTT") services associated with the Nextel brand in Latin
America.  NII Holdings' shares of common stock, par value $0.001,
are publicly traded under the symbol NIHD on the NASDAQ Global
Select Market.

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors have sought joint administration
of their Chapter 11 cases.

The Chapter 11 cases are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.


NNN 3500 MAPLE 26: Hearing on Plan Confirmation Set for Oct. 21
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas is
set to hold a hearing on Oct. 21 to consider approval of the
Chapter 11 plan proposed by NNN 3500 Maple 26, LLC.

Creditors entitled to vote on the proposed plan are required to
submit their ballots on or before Oct. 10, which is also the
deadline approved by the court for filing objections to the plan.

The bankruptcy court on Aug. 29 approved the disclosure statement
outlining the plan after determining that it contains "adequate
information" for creditors to make informed judgment on whether or
not to support the plan.

According to the disclosure statement, NNN 3500 Maple and its
affiliated debtors are "jointly and severally liable on all
claims."  They do not intend to solicit acceptances on a separate
"debtor-by-debtor" basis.  Approval of the plan will apply to NNN
3500 Maple and all its affiliated debtors.

The plan provides for a 100% estimated recovery to all creditors,
according to the disclosure statement.

As of the effective date of the plan, ownership of the assets of
each company's estate will vest in that company free and clear of
liens, claims, rights, title and interests.

The payments to be made to creditors under the plan will be funded
from the proceeds.  The proceeds will be used to fund, inter alia,
payment of allowed administrative expenses and claims.

A copy of the court's Aug. 29 order is available without charge at
http://is.gd/eT8bL2

                   About NNN 3500 Maple Entities

NNN 3500 Maple 26, LLC, based in Costa Mesa, Calif., filed for
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 12-23718) on
Nov. 30, 2012.  Judge Scott C. Clarkson presided over the case.
In its schedules, the Debtor disclosed $45,563,241 in total assets
and $46,658,593 in total liabilities.

On Jan. 23, 2013, the California Bankruptcy Court entered an order
transferring venue of the bankruptcy case to the U.S. Bankruptcy
Court for the Northern District of Texas (Case No. 13-30402).
Judge Harlin DeWayne Hale in Dallas presides over the case.

On Aug. 29, 2013, 26 other affiliates filed separate Chapter 11
petitions.  These entities are: NNN 3500 Maple 1, LLC, NNN 3500
Maple 2, LLC, NNN 3500 Maple 3, LLC, NNN 3500 Maple 4, LLC, NNN
3500 Maple 5, LLC, NNN 3500 Maple 6, LLC, NNN 3500 Maple 7, LLC,
NNN 3500 Maple 10, LLC, NNN 3500 Maple 12, LLC, NNN 3500 Maple 13,
LLC, NNN 3500 Maple 14, LLC, NNN 3500 Maple 15, LLC, NNN 3500
Maple 16, LLC, NNN 3500 Maple 17, LLC, NNN 3500 Maple 18, LLC, NNN
3500 Maple 20, LLC, NNN 3500 Maple 22, LLC, NNN 3500 Maple 23,
LLC, NNN 3500 Maple 24, LLC, NNN 3500 Maple 27, LLC, NNN 3500
Maple 28, LLC, NNN 3500 Maple 29, LLC, NNN 3500 Maple 30, LLC, NNN
3500 Maple 31, LLC, NNN 3500 Maple 32, LLC, and NNN 3500 Maple 34.

Each Debtor holds an ownership interest as a tenant in common in
an 18-story commercial office building commonly known as 3500
Maple Avenue, Dallas, Texas 75219.

These TICs have not filed for bankruptcy: NNN 3500 Maple 0, LLC,
NNN 3500 Maple 8, LLC, NNN 3500 Maple 9, LLC, NNN 3500 Maple 11,
LLC, NNN 3500 Maple 25, LLC, and NNN 3500 Maple 35, LLC.

Bankruptcy Judge Harlin DeWane Hale denied confirmation of two
competing reorganization plans filed in the Chapter 11 cases of
NNN 3500 Maple 26 LLC and its affiliated debtors.

The Plan is to be funded by an $8.5 million "Cash Infusion" and
"Additional Equity Contributions" of around $10 million.  Under
the Debtors' Plan, the building will undergo substantial
rehabilitation.

The Plan propose by Strategic Acquisition Partners, LLC, a party
that acquired a claim in the case, similar to the Debtors', in an
attempted cure and restatement, will replace the Borrower with
NewCo under the Loan Documents.  NewCo will be divided into Class
A and Class B membership interests.

An official creditors' committee has not been appointed in this
case.  Neither a trustee nor an examiner has been appointed.

The Debtors are represented by Michelle V. Larson, Esq., at
ANDREWS KURTH LLP, and Jeremy B. Reckmeyer, Esq., at ANDREWS KURTH
LLP.

Strategic Acquisition Partners LLC is represented by Joseph J.
Wielebinski, Esq., Davor Rukavina, Esq., Zachery Z. Annable, Esq.,
and Thomas D. Berghman, Esq., at MUNSCH HARDT KOPF & HARR, P.C.

William B. Finkelstein, Esq., Esq., and Jeffrey R. Fine, Esq., at
DYKEMA GOSSETT PLLC serve as counsel to Maple Avenue Tower, LLC.


NORTEL NETWORKS: Asset Allocation Trial Scheduled for Sept. 22
--------------------------------------------------------------
All Canadian Nortel Retirees and their Retiree Association, the
NRPC, welcome the final stage of the Asset Allocation Trial, this
coming Monday, Sept. 22 and Tuesday, Sept. 23.  The allocation
trial will finally decide how the $7.3B dollars in proceeds of
sales of Nortel's business lines and its patents will be split
between the various Nortel estates and ultimately be paid to
creditors.

Don Sproule, President of the NRPC, stated emphatically:

"We call upon both the Canadian and the US courts to do justice
among the parties and provide a fair, prompt and reasonable
distribution to all creditors, particularly Nortel's hard-hit
pensioners and disabled employees."

This final court session will be one more step along the path to
gain justice for the pensioners and Long Term Disabled employees
who have become involuntary creditors in this high stakes
bankruptcy.

We note with dismay that the distressed debt investors, who paid
pennies on the dollar to acquired Nortel bonds after the
commencement of the CCAA proceedings, are still pursuing
outrageous interest claims that will allow them to reap windfall
profits at the expense of the pensioners, their survivors and the
disabled.

The Canadian employees of Nortel were the primary creators of the
bulk of Nortel's patents and assets of the once global company.
They are owed better treatment than what is promoted by the
Bondholders and they are resolute to wait as long as it takes for
an equitable share of Nortel's dwindling assets.

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
business in more than 150 countries around the world.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced a proceeding with the Ontario Superior Court of Justice
under the Companies' Creditors Arrangement Act (Canada) seeking
relief from their creditors.  Ernst & Young was appointed to serve
as monitor and foreign representative of the Canadian Nortel
Group.  That same day, the Monitor sought recognition of the CCAA
Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No.
09-10164) under Chapter 15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New
York, serve as the U.S. Debtors' general bankruptcy counsel; Derek
C. Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in
Wilmington, serves as Delaware counsel.  The Chapter 11 Debtors'
other professionals are Lazard Freres & Co. LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims and notice
agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., in Wilmington, Delaware,
represent the Unsecured Creditors Committee.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of Long-
Term Disability Participants tapped Alvarez & Marsal Healthcare
Industry Group as financial advisor.  The Retiree Committee is
represented by McCarter & English LLP as Delaware counsel, and
Togut Segal & Segal serves as the Retiree Committee.  The
Committee retained Alvarez & Marsal Healthcare Industry Group as
financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

Judge Gross and the court in Canada scheduled trials in 2014 on
how to divide proceeds among creditors in the U.S., Canada, and
Europe.


OWENS & MINOR: Moody's Rates $300MM & $250MM Unsecured Notes Ba1
----------------------------------------------------------------
Moody's Investors Service assigned Ba1 ratings to Owens & Minor,
Inc's ("O&M") proposed $300 million and $250 million senior
unsecured notes. In a related action, Moody's affirmed the
company's Ba1 Corporate Family Rating and Ba1-PD Probability of
Default Rating, and assigned a Speculative Grade Liquidity Rating
("SGL") of SGL-2. The rating outlook is stable.

Proceeds from the proposed transaction are expected to be utilized
to redeem the company's existing $200 million 6.35% senior
unsecured notes due 2016, fund the acquisition of Medical Action
Industries, and for general corporate purposes.

While the transaction increases the company's funded debt to $550
million from $200 million resulting in almost a turn of additional
leverage from the low current adjusted debt to EBITDA level of
near 2.0 times, leverage remains within the Ba1 rating tolerance.

The following rating actions were taken:

$300 million senior unsecured notes due 10 years, assigned Ba1
(LGD4);

$250 million senior unsecured notes due 7 years, assigned Ba1
(LGD4);

Corporate Family Rating, affirmed at Ba1;

Probability of Default Rating, affirmed at Ba1-PD;

Speculative grade liquidity ratings, assigned SGL-2;

Outlook, stable.

The Ba1 (LGD4) rating on the company's existing $200 million 6.35%
senior unsecured notes will be withdrawn upon their repayment.

Ratings Rationale

The Ba1 Corporate Family Rating incorporates Moody's expectations
for continued strong credit metrics and reflects OMI's position as
one of the leading medical and surgical supply distributors, its
relatively large revenue base, and longer-term growth
opportunities. Further supporting the rating is OMI's conservative
financial policies as demonstrated by its increased yet relatively
low funded debt level, good maturity and liquidity profile, along
with the company's long operating history and established customer
base. Moody's anticipate the company's free cash flow generation
will continue to be restricted by a sizeable dividend payment of
approximately $60 million annually. The rating is constrained by
the company's thin EBITDA margin and historically volatile working
capital, a characteristic inherent to distribution companies when
on-boarding new customers, which can temporarily weigh on the
company's free cash generation. Additionally, improving yet low
healthcare utilization and hospitals' and healthcare service
providers' need to prudently manage costs continue to limit
organic domestic segment revenue growth and margin expansion.

The speculative grade liquidity ratings of SGL-2 reflects the
company's good liquidity profile, including pro-forma cash balance
in excess of $100 million, a large revolving credit facility that
the company intends to increase to $450 million that remains fully
available, and the expectation that the company will generate
positive free cash flow in 2015. The SGL-2 ratings further
reflects the company's favorable maturity profile and sizeable
covenant cushion.

The stable outlook reflects our expectation that Owens & Minor
will maintain a good liquidity profile highlighted by reasonable
unrestricted cash balances and substantial availability under its
revolving credit facility. Additionally, the stable outlook
assumes the company will maintain its conservative financial
policy with no material EBITDA margin deterioration.

A sustained improvement in the company's retained cash flow (funds
from operations less dividends) generation approaching 30% of
adjusted debt, the maintenance of healthy positive free cash flow
with good liquidity, and adjusted leverage approaching 2 times,
the ratings could be upgraded. Furthermore, a ratings upgrade
would also require sustained organic revenue growth, and EBITDA
margin expansion.

A sustained contraction in profitability due to declines in
healthcare utilization or international operational issues and/or
deterioration in operating margins coupled with a tightening of
the liquidity profile, including deteriorating retained cash flow
generation, could lead to a ratings downgrade. Additionally, an
increase in funded debt, enhancement of shareholder-friendly
activities including dividends or share repurchases programs, or a
more aggressive acquisition strategy leading to debt leverage that
is sustainably over 3.5 times could pressure the ratings and/or
outlook.

The principal methodology used in this rating was Global
Distribution & Supply Chain Services published in November 2011.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Owens & Minor, Inc. ("OMI"), founded 1882, is a national provider
of distribution and logistics services to the healthcare industry
and a European provider of logistics services to pharmaceutical,
life-science, and medical-device manufacturers. The company
distributes products from 70 facilities in the U.S., Europe, and
China. For the last twelve month period ended June 30, 2014, OMI
reported revenue and net income of approximately $9.2 billion and
$101 million, respectively.


PACIFIC STEEL: Case Caption Now Reads Second Street Properties
--------------------------------------------------------------
Bankruptcy Judge Roger L. Efremsky authorized Pacific Steel
Casting Company, et al., to revise case caption to reflect the
name change after the sale of assets.

The case caption now reflects: Second Street Properties, and
Berkeley Properties, LLC.  The revised caption includes a footnote
which reflects that Second Street Properties was formerly known as
Pacific Steel Casting Company.

The Debtors, in their application, stated that the assets sold
included the trade name "Pacific Steel Casting Company" and the
commonly used abbreviation and trademark "PSC".   The Debtors
agreed with the buyer that the Debtors would stop using that name
immediately after the closing.

                   About Pacific Steel Casting,
                       Berkeley Properties

Pacific Steel Casting Company and Berkeley Properties, LLC,
separately filed Chapter 11 bankruptcy petitions (Bankr. N.D.
Cal. Case Nos. 14-41045 and 14-41048) on March 10, 2014.  Pacific
Steel's petition was signed by Charles H. Bridges, Jr., chief
financial officer and director.  Michael W. Malter, Esq., at
Binder & Malter, LLP serves as the Debtors' counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' claims, noticing and
balloting agent.  Burr Pilger Mayer, a certified public accounting
firm, serves as financial consultants.

Pacific Steel makes carbon, low-alloy and stainless steel castings
for U.S. and international customers, largely for heavy-duty
trucks and construction equipment.

Tracy Hope Davis, the United States Trustee for Region 17,
appointed seven creditors to serve on the Official Committee of
Unsecured Creditors.  The Committee is represented by Ori Katz,
Esq., and Michael M. Lauter, Esq., at Sheppard, Mullin, Richter &
Hampton LLP.


PALM BEACH COMMUNITY: Nov. 3 Hearing on Plan Confirmation
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida is
set to hold a hearing on Nov. 3 to consider approval of the
Chapter 11 plan proposed by Palm Beach Community Church, Inc. to
exit bankruptcy protection.

Voting creditors have until Oct. 27 to deliver the ballots
accepting or rejecting the restructuring plan.  Objections to
approval of the plan are due by Oct. 31.

Palm Beach Community on July 18 won court approval of the
disclosure statement outlining its proposed restructuring plan.

According to the disclosure statement, the proposed plan places
claims in four classes and describes the treatment each class will
receive.

Under the plan, Class 1, which consists of secured claim of Palm
Beach County's tax collector, will be paid in full, with statutory
interest, no later than five years from the time of its bankruptcy
filing.

PNC Bank NA's $17.3 million secured claim is placed in Class 2.
Palm Beach Community will pay the bank's claim from the proceeds
of the sale of an undeveloped land it owns in Palm Beach Gardens,
Florida.

Meanwhile, Everbank Commercial Finance's secured claim of $21,225
is placed in Class 3.  The company will receive monthly payments
of $849 until it is paid in full.

Class 4 consists of Ben Devries' general unsecured claim of
$50,000.  He will be paid in full in equal monthly installments
over 3 years.

Payments and distributions under the plan will be funded by Palm
Beach Community's funds on hand, revenue from its banquet hall
special events, tuition from its preschool, revenue from
concession operations, and tithing and other donations from church
Members, according to the disclosure statement.

Prior to court approval of the disclosure statement, Palm Beach
Community revised it twice after PNC Bank and the U.S. trustee,
the Justice Department's bankruptcy watchdog, complained that it
didn't have "adequate information" about the plan.

Both demanded additional information about Palm Beach Community's
assets, the terms of its sale agreement with the stalking horse
bidder, sources of income, among other things.

A full-text copy of Palm Beach Community's latest disclosure
statement approved by Judge Kimball can be accessed for free at
http://is.gd/5yLK1C

                   About Palm Beach Community

Palm Beach Community Church, Inc., filed a Chapter 11 petition
(Bankr. S.D. Fla. Case No. 13-35141) on Oct. 20, 2013.  The
petition was signed by Raymond Underwood as president.  The Debtor
scheduled total assets of $14.6 million and total liabilities of
$11.43 million.

Palm Beach Community Church won permission to employ Robert C.
Furr and the law firm of Furr and Cohen, P.A., as attorney; and
Roy Wiley and Covenant Financial, Inc. dba SmartPlan Financial
Services as accountants.

In December, the U.S. Trustee informed the Bankruptcy Court that
it was unable to appoint a committee of creditors in the case.


PALM BEACH FINANCE: BMO Harris Sued for $24B Over Petters Fraud
---------------------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that a new lawsuit was filed in a Florida bankruptcy court seeking
to hold M&I Bank, now owned by BMO Harris Bank, responsible for
allegedly enabling Minnesota businessman Tom Petters to
orchestrate a Ponzi scheme that cheated investors out of several
billion dollars.

According to the Journal, the lawsuit, filed in connection with
the bankruptcy case of Palm Beach Finance Partners LP, seeks to
recover nearly $24 billion from BMO Harris, which acquired M&I in
2011.  Palm Beach was a major feeder fund to Mr. Petters, the
Journal, related.

                        About Petters Group

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Fruth, Jamison & Elsass, PLLC, represents Douglas Kelley, the duly
appointed Chapter 11 Trustee of Petters Company, Inc., et al.  The
trustee tapped aynes and Boone, LLP as special counsel, and Martin
J. McKinley as his financial advisor.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.

                      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: Court OKs Hiring of Norris McLaughlin as Counsel
---------------------------------------------------------------
Paradigm East Hanover LLC sought and obtained permission from the
Hon. Donald H. Steckroth of the U.S. Bankruptcy Court for the
District of New Jersey to employ Norris, McLaughlin & Marcus, PA
as general counsel.

Norris McLaughlin will represent the Debtor in its pending Chapter
11 case, including, but not limited to, all necessary court
appearances, research, preparation and drafting of pleadings and
other legal documents, hearing preparation and related work,
negotiations and advice with respect to the Debtor's chapter 11
case.

Norris McLaughlin will be paid at these hourly rates:

       Members              $280-$620
       Associates           $160-$415
       Paralegal            $60-$185

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

David M. Kushner, manager of the Debtor, 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.

Norris McLaughlin can be reached at:

       Morris S. Bauer, Esq.
       NORRIS, MCLAUGHLIN & MARCUS, PA
       721 Route 202-206, Suite 200
       P.O. Box 5933
       Bridgewater, NJ 08807-5933
       Tel: (908) 722-0700

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.


PIKE CORP: Moody's Assigns 'B3' Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service assigned a B3 corporate family rating
and B3-PD probability of default rating to Pike Corporation. In
addition, Moody's assigned a B2 rating to the company's proposed
$390 million first lien senior secured credit facility. This
facility will include a $100 million senior secured revolving
credit facility and a $290 million senior secured first lien term
loan. Moody's also assigned a Caa2 rating to the anticipated $150
million second lien senior secured term loan. The proceeds from
the credit facility and term loans will be used to complete the
acquisition of Pike Corporation by Court Square Capital Partners
and J. Eric Pike and to refinance existing debt. A stable rating
outlook was assigned.

Assignments:

Issuer: Pike Corporation

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

$100 Million Senior Secured Revolving Credit Facility, Assigned
B2 (LGD3)

$290 Million Senior Secured First Lien Term Loan, Assigned B2
(LGD3)

$150 Million Senior Secured Second Lien Term Loan, Assigned Caa2
(LGD5)

Outlook Actions:

Issuer: Pike Corporation

Outlook, Assigned Stable

This is a newly initiated rating and this is Moody's first press
release on this issuer.

Ratings Rationale

The B3 corporate family rating reflects Pike's elevated financial
leverage, acquisitive history, small size, customer concentration
and lack of geographic and end-market diversification. The company
is primarily focused on providing services to electric utilities
and has modest exposure to other end-markets. In addition, the
operations of its restricted subsidiaries are concentrated in the
Mid-Atlantic and southeastern US with modest exposure to other
geographic regions. Pike's rating also reflects the volatility of
its operating results, which are influenced by the amount of
unpredictable storm related restoration work.

Pike's ratings are supported by its favorable end market dynamics
due to the aging of power lines and other transmission
infrastructure, and the trend towards outsourcing of maintenance
work by electric utilities. The rating also benefits from its
ability to provide a full range of services including engineering,
construction, maintenance and repair of transmission, substation
and distribution infrastructure to utility customers and the
recurring nature of this work.

Pike's operating results should continue to be supported by its
strong customer relationships, history of timely and effective
project execution and the recurring nature of a significant
portion of its revenues, which are derived from master service
agreements (MSA's) with long-term utility customers. However, Pike
relies on storm restoration work for about 10% to 20% of its
revenues, which produces significantly higher margins than the
other services it provides, but will continue to produce
volatility in its operating results. Moody's estimates the company
will produce adjusted EBITDA in the range of $90 million to $100
million in the fiscal year ending June 2015, which should enable
Pike to generate free cash flow and modestly reduce its debt
levels since it has modest capital expenditure requirements. The
company is expected to steadily reduce its term loan debt due to
the required 1% annual term loan amortization payments and the
required excess cash flow sweep. The company is expected to have
an adjusted leverage ratio (Debt/EBITDA) of about 5.0x and an
interest coverage ratio (EBITA/Interest Expense) of about 2.0x at
the end of fiscal 2015.

Pike's credit metrics could improve to a level that creates upside
pressure on its rating over the next 12 to 18 months. However,
this will continue to be tempered by its small scale, volatile
operating results, high customer concentration and lack of
geographic and end-market diversification. Pike has a relatively
small revenue and EBITA base and limited geographic and end market
diversity versus higher rated companies in its sector. Moody's
expects Pike's restricted subsidiaries to report revenues of about
$725 million to $750 million in fiscal 2015 assuming storm
restoration work is about $65 million, which is a similar level to
fiscal 2014. This compares to annual revenues ranging from $2
billion to $27 billion for higher rated companies. The company
derives the majority of its sales from the utility sector and has
limited geographic diversification. This compares to broader
geographic and end market diversification for the majority of the
higher rated peers. The lack of scale and diversity reduces the
company's operational and financial flexibility. Larger and more
diversified companies can better cope with periods of weakness and
more efficiently utilize their resources, which helps to reduce
the volatility of earnings through the economic cycle. Pike's
earnings volatility is exacerbated by its exposure to storm
related restoration work, which can vary significantly each year
since the occurrence of destructive storms is volatile and
unpredictable.

Pike's is expected to have good pro forma liquidity since it does
not anticipate borrowing on the $100 million revolver, which will
be used for modest letters of credit. The company will have no
near-term debt maturities as the nearest maturity would be the
revolver in 2019.

The stable outlook presumes the company's operating results will
be relatively stable or improve modestly over the next 12 to 18
months and result in gradually improved credit metrics. It also
assumes the company will carefully balance its leverage with its
growth strategy.

The ratings could experience upward pressure if the company
increases its scale and geographic diversification, maintains
stable margins, generates positive free cash flow and reduces its
leverage ratio below 5.0x.

Negative rating pressure could develop if deteriorating operating
results, debt financed acquisitions or shareholder dividends
result in funds from operations (CF from operations before working
capital changes) declining below 10% of outstanding debt or the
leverage ratio rising above 6.0x. A significant reduction in
borrowing availability or liquidity could also result in a
downgrade.

The principal methodology used in this rating was the Global
Construction Methodology published in November 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.

Headquartered in Mount Airy, North Carolina, Pike Corporation is a
domestically focused provider of installation, repair and
maintenance and storm restoration services for investor-owned,
municipal, and cooperative electric utilities in the United
States. The company provides engineering and design services and
constructs and maintains substations, underground and overhead
distribution networks and transmission lines. The company's
restricted subsidiaries generated revenue of about $722 million
for the trailing 12-month period ended June 30, 2014. Court Square
Capital Partners will be the majority owner of Pike Corporation
when the debt financing and acquisition are completed.


PSL-NORTH AMERICA: Proposes Deadlines for Filing Claims
-------------------------------------------------------
PSL-North America LLC asked the U.S. Bankruptcy Court for the
District of Delaware to approve the deadline proposed by the
company for filing claims.

In its motion, PSL-North America proposed a Dec. 15, 2014,
deadline for governmental units to file a proof of claim against
the company.

Meanwhile, the general bar date or the deadline for other
creditors that hold pre-bankruptcy claims against the company
shall be no earlier than the first business day that is at least
30 days after service of the notice of the bar dates.

The deadline for creditors whose claims stemmed from the rejection
of an executory contract or unexpired lease agreement with PSL-
North America shall be the later of (i) the general bar date, or
(ii) 21 days after court approval of the rejection.

Creditors whose claims have been amended are required to file a
proof of claim by (i) the general bar date, or (ii) 5:00 p.m.
(prevailing Eastern time) on the date that is 21 days after
service of a notice of the amendment.

A court hearing is scheduled for Sept. 26.  Objections are due by
Sept. 19.

                     About PSL-North America

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

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

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

PSL-North America LL disclosed $93,343,085 in assets and
$204,025,409 in liabilities as of the Chapter 11 filing.  As of
the Petition Date, the company had total outstanding debt
obligations of $130 million, according to a court filing.

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


REVEL AC: U.S. Trustee Objects to Proposed Modified Bid Protocol
----------------------------------------------------------------
BankruptcyData reported that the U.S. Trustee assigned to the
Revel AC case objected to the proposed modified bid procedures,
saying the pre-approval of the proposed break-up fee to Glenn
Straub's Polo North Country Club Inc. in the amount of $3 million
in the event the Debtors consummate an alternative transaction is
not appropriate under the circumstances and under relevant Third
Circuit law, and the revised proposed bid deadline of Sept. 23,
2014 does not provide sufficient time for parties to submit bids
now that the hotel and casino are no longer operating.  The U.S.
Trustee also complained that the waiver of New Jersey realty
transfer fees should not be decided on five days' notice, BData
added.

Law360 reported that the bankruptcy judge in New Jersey has
approved an auction for Revel's casino and hotel and approved the
proposed $3 million break-up fee, saying she is willing to grant
the break-up fee in advance of an auction given a lack of buyer
interest.

                           About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and
operates Revel, a Las Vegas-style, beachfront entertainment resort
and casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19,
2014, to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-
16253) on March 25, 2013, with a prepackaged plan that reduced
debt by $1.25 billion.  Less than two months later on May 15,
2013, the 2013 Plan was confirmed and became effective on May 21,
2013.


ROSETTA GENOMICS: Incurs $7.2 Million Net Loss in H1 2014
---------------------------------------------------------
Rosetta Genomics Ltd. reported a net loss after discontinued
operations of $7.18 million on $554,000 of revenues for the six
months ended June 30, 2014, compared to a net loss after
discontinued operations of $6.29 million on $193,000 of revenues
for the same period a year ago.

The Company's balance sheet at June 30, 2014, showed $21.67
million in total assets, $1.79 million in total liabilities and
$19.87 million in total shareholders' equity.

"The first half of 2014 was a particularly productive period for
Rosetta Genomics as we made meaningful advances across the three
key areas for growth, namely current product sales, new product
development and third-party collaborations," said Kenneth A.
Berlin, president and chief executive officer of Rosetta Genomics.

"We recorded significant growth in product revenues year-over-
year, underscoring the momentum of our sales and marketing
efforts.  To fortify our commercial strategy and enhance market
adoption, we strengthened our leadership team with the addition of
key hires to drive demand and reimbursement.

"Our clinical development programs continued to advance and we are
on track to publish proof-of-concept data for our thyroid
neoplasia assay by the end of the year.  These data and other
information are expected to highlight the advantages of our assay
compared with current alternatives.  Our specimen collection
process will be a competitive differentiator, as it can utilize
the actual smear used by the cytologist as opposed to taking
additional Fine Needle Aspirates and preserving them in
specialized tubes as is now required by currently marketed thyroid
tests.  Importantly, we remain on track to begin final validation
testing in early 2015 and to launch our microRNA-based thyroid
neoplasia assay in the third quarter of 2015.

"We are also advancing our previously published discovery work in
bladder cancer into the development phase to achieve a microRNA-
based diagnostic for better therapeutic guidance of patients with
bladder cancer.  We have two published studies relating to an
assay for bladder cancer risk of invasiveness, which give us the
confidence to move forward with additional feasibility and
validation studies, with an aim for commercial launch in 2016.  In
addition, we will continue to explore additional oncology
indications through early proof-of-concept studies in 2015.

"We are especially pleased with our progress with third-party
collaborations.  These alliances allow us to leverage our leading
microRNA biomarker platform into both the diagnostics and
therapeutics arenas, and have the potential to be significant
contributors to long-term value creation.  Specifically, we have
successfully completed the feasibility phase of our master service
agreement with an undisclosed global biopharmaceutical company and
are now advancing to the next stage of this collaboration, which
is expected to generate revenues by the end of 2014.  In addition,
we have initiated proof-of-concept studies with our global
pharmaceutical partner to advance the development of an assay for
the earlier detection of Alzheimer's disease which could have
applications both as a diagnostic as well as for patient selection
for clinical trials.

"We further strengthened our patent portfolio with the addition of
three U.S. patents in various cancer indications.  In addition to
protecting our products from would-be competitors, these patents
support our leading patent position in microRNA technology,
specifically in oncology," concluded Mr. Berlin.

As of June 30, 2014, Rosetta Genomics had $19.8 million in cash
and cash equivalents, restricted cash and short-term bank
deposits, compared with $24.5 million as of Dec. 31, 2013.  The
Company used approximately $7.5 million in cash to fund operations
during the first six months of 2014.  During the first half of
2014 the Company raised net proceeds of $3 million from the sale
of approximately 750,000 ordinary shares through the previously
announced Sales Agreements with Cantor Fitzgerald & Co.

A copy of the press release announcing the results is available
for free at http://is.gd/GQpIOa

                           About Rosetta

Based in Rehovot, Israel, Rosetta Genomics Ltd. is seeking to
develop and commercialize new diagnostic tests based on a recently
discovered group of genes known as microRNAs.  MicroRNAs are
naturally expressed, or produced, using instructions encoded in
DNA and are believed to play an important role in normal function
and in various pathologies.  The Company has established a CLIA-
certified laboratory in Philadelphia, which enables the Company to
develop, validate and commercialize its own diagnostic tests
applying its microRNA technology.

Rosetta Genomics incurred a net comprehensive loss after
discontinued operations of $12.89 million on $405,000 of revenues
for the year ended Dec. 31, 2013, as compared with a net
comprehensive loss after discontinued operations of $10.45 million
on $201,000 of revenues in 2012.

As of Dec. 31, 2013, the Company had $25.88 million in total
assets, $2.24 million in total liabilities and $23.63 million in
total shareholders' equity.

                         Bankruptcy Warning

"We will require substantial additional funding and expect to
augment our cash balance through financing transactions, including
the issuance of debt or equity securities and further strategic
collaborations.  On December 7, 2012, we filed a shelf
registration statement on Form F-3 with the SEC for the issuance
of ordinary shares, various series of debt securities and/or
warrants to purchase any of such securities, either individually
or in units, with a total value of up to $75 million, from time to
time at prices and on terms to be determined at the time of such
offerings.  The filing was declared effective on December 19,
2012.  As of the time of the filing of this Annual Report on Form
20-F, we had sold through the Cantor Sales Agreement an aggregate
of 1,559,537 of our ordinary shares for gross proceeds of $5.9
million under this shelf registration statement, leaving an
aggregate of approximately $69.1 million of securities available
for sale.  If we need additional funding, there can be no
assurance that we will be able to obtain adequate levels of
additional funding on favorable terms, if at all.  If adequate
funds are needed and not available, we may be required to:

   * delay, reduce the scope of or eliminate certain research and
     development programs;

   * obtain funds through arrangements with collaborators or
     others on terms unfavorable to us or that may require us to
     relinquish rights to certain technologies or products that we
     might otherwise seek to develop or commercialize
     independently;

   * monetize certain of our assets;

   * pursue merger or acquisition strategies; or

   * seek protection under the bankruptcy laws of Israel and the
     United States," the Company stated in the 2013 Annual Report.


ROUNDY'S SUPERMARKET: Bank Debt Trades at 5% Off
------------------------------------------------
Participations in a syndicated loan under which Roundy's
Supermarket Inc. is a borrower traded in the secondary market at
94.71 cents-on-the-dollar during the week ended Friday, Sept. 19,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
a decrease of 0.39 of percentage points from the previous week,
The Journal relates.  Roundy's Supermarket Inc. pays 475 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on Feb. 17, 2021 and carries Moody's B1 rating and
Standard & Poor's B rating.  The loan is one of the biggest
gainers and losers among 264 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.


RSP PERMIAN: Moody's Assigns B3 Rating on $450MM Unsecured Notes
----------------------------------------------------------------
Moody's Investors Service assigned a first time rating of B3 to
RSP Permian, Inc.'s (RSP) proposed offering of $450 million senior
unsecured notes. Moody's also assigned a B2 Corporate Family
Rating (CFR), a SGL-2 Speculative Grade Liquidity Rating and a
stable outlook. Notes proceeds will be used to repay borrowings
currently outstanding on the revolving credit facility and to pre-
fund a portion of the drilling program.

"Through a series of transactions beginning in 2013, RSP has
assembled a meaningful acreage position in the Midland Basin,"
commented Michael Sabella, Moody's Analyst. "This notes offering
will provide additional capital for the continued funding of the
rapid development of the acreage in West Texas, which offers
substantial growth opportunities for the company. The development
of the assets will require significant capital in addition to this
offering, and Moody's anticipates that RSP will outspend cash flow
through 2015 and beyond."

Assignments:

Issuer: RSP Permian, Inc.

Probability of Default Rating, Assigned B2-PD

Speculative Grade Liquidity Rating, Assigned SGL-2

Corporate Family Rating, Assigned B2

Senior Unsecured Regular Bond/Debenture, Assigned B3(LGD5)

Outlook Actions:

Issuer: RSP Permian, Inc.

Outlook, Assigned Stable

RSP is an independent exploration and production (E&P) formed in
September 2013. The majority of assets were assembled in a series
of transactions beginning in late 2010 and early 2014 through the
combination of two working interests and a net profit interest,
and an initial public offering was completed in January 2014. The
company produced 10,714 barrels of oil equivalent (boe) per day in
2014's second quarter and had total proved reserves (pro forma for
first quarter transactions) of 54 million boe as of December 31,
2013 (65% oil, 40% proved developed). PV-10 as of December 31,
2013 totaled $813 million. On August 29, RSP simultaneously closed
on a series of acquisitions totaling 6,652 net acres in Glasscock
County, Texas for $257 million. Current production from the
acquired assets is 1,106 boe per day with company estimated total
proved reserves of 22 million boe. Pro forma for 2014
acquisitions, RSP's average daily production is 11,820 boe per day
(roughly 70% oil) with total proved reserves of 76 million boe.
Pro forma for the acquisition, RSP controls nearly 47,000 net
acres, the entirety of which is in the Midland Basin in West
Texas.

Ratings Rationale

The B2 CFR reflects RSP's modest size and scale compared to other
B2 E&Ps. However, the rating acknowledges the significant
additional growth opportunities embedded in the company's Permian
Basin acreage. The rating also considers the company's strong cash
margins derived from the high-quality oil production. While
Permian oil producers are currently dealing with widening negative
basis differentials caused by growing production and constrained
takeaway capacity, several crude pipelines should come online in
the second half of 2014 and help partially close the differential.
Additional takeaway capacity will follow in 2015. The rating also
factors in the significant capital that is needed to develop RSP's
assets in West Texas. Moody's expects RSP to outspend cash flow in
2015 and beyond, increasing debt levels as it continues to grow
production. While debt levels will continue to rise, RSP's
leverage is anticipated to remain relatively consistent with pro
forma levels through growth of production and reserves. The
company operates almost all of its proved reserves, providing a
high degree of operational control and with it the flexibility to
reduce spending should market conditions pressure commodity
prices.

The B3 rating on RSP's proposed $450 million senior unsecured
notes reflects the subordination to the $500 million secured
borrowing base revolving credit facility and its priority claim to
the company's assets. The size of the revolver relative to RSP's
outstanding senior unsecured notes results in the notes being
rated one notch below the B2 CFR under Moody's Loss Given Default
Methodology. However, if the borrowing base grows significantly in
the future, increasing the proportion of secured debt relative to
unsecured debt in the capital structure, it is possible that RSP's
notes could be double-notched.

RSP should have good liquidity through 2015 and Moody's has
assigned a SGL-2 Speculative Grade Liquidity Rating. The $450
million senior unsecured notes offering will be used to pay down
revolver borrowings and to pre-fund a portion of RSP's drilling
program. Pro forma for the notes offering, a third quarter primary
equity offering of around $120 million, and a $257 million third
quarter acquisition, RSP had nothing outstanding on a $500 million
secured borrowing base revolving credit facility and around $145
million in cash as of June 30, 2014. Moody's anticipates RSP will
require significant additional capital to fund the drilling
program, with the company's capital budget expected to exceed cash
flow by in excess of $400 million through the end of 2015. The
capital budget is expected to be funded with cash on hand and
drawings under the revolver, and Moody's believe RSP will have
substantial funding to finance the shortfall. The revolver
requires RSP to maintain a current ratio in excess of 1x, debt to
EBITDA below 4.5x, and secured debt to EBITDA below 3.5x. Moody's
believes the company will remain in compliance over the next year.

The outlook is stable. RSP could be upgraded if it can increase
production above 30,000 boe per day while maintaining debt to
average daily production below $40,000. A downgrade would be
considered if RSP's debt to average daily production is sustained
above $50,000 or if retained cash flow to debt falls below 20%.

The principal methodology used in this rating was Global
Independent Exploration and Production Industry published in
December 2011. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

RSP Permian, Inc. is an independent E&P company headquartered in
Dallas, Texas.


SCICOM DATA: Court Denies US Trustee's Motion for Case Dismissal
----------------------------------------------------------------
The Hon. Michael E. Ridgway of the U.S. Bankruptcy Court for the
District of Minnesota has denied the motion of U.S. Trustee Daniel
M. McDermott, the U.S. Trustee for Region 12, to dismiss or
convert to Chapter 7 the bankruptcy case of SCICOM Data Services,
Ltd.

In a court filing dated Aug. 1, 2014, the U.S. Trustee said that
cause exists to immediately dismiss or convert the case.

The Debtor, the U.S. Trustee pointed out, has arguably now sold
its business, has listed its real estate for sale, and has
returned all its remaining equipment to Xerox Corporation.  The
Debtor has no expectation of resuming business in the future and
that at this point, there is nothing to rehabilitate, yet the
costs of going forward remain excessive, according to the U.S.
Trustee.

The Debtor has undertaken to sell its operating assets and
business to Venture Solutions, Inc., having engaged in
negotiations both pre-petition and post-petition.  The
transaction, the U.S. Trustee further pointed out, remains
unresolved and has devolved to the point where the Debtor has
accused Venture of acting in bad faith, scheming with Xerox
regarding executory contracts, forcing the Debtor to assume
executory contracts for no reason, etc.

The U.S. Trustee complained that litigation costs to date are
extraordinary, and will continue for at least another 60 days
through a period during which the Debtor contemplates preparing
for and trying an adversary proceeding after exchanges of
interrogatories and document requests, the deposition of
witnesses, and full blown trial preparation against two
sophisticated parties in the case.  The litigation costs establish
the ongoing losses to and diminution of the estate.

A copy of the U.S. Trustee's motion is available for free at:

  http://bankrupt.com/misc/SCICOMData_228_motiondismisscase.pdf

The Pension Benefit Guaranty Corporation, on its own and on behalf
of the Scicom Data Services, Ltd. Employee Pension Plan, and the
largest creditor in the case, said in a court filing dated Aug.
22, 2014, that it cannot support or oppose the U.S. Trustee's
motion, given it doesn't have sufficient information to weigh the
costs of continuing the Chapter 11 case versus converting to a
Chapter 7 case.

On the same date, the Official Committee of Unsecured Creditors
filed an objection to the Motion, saying that although the Debtor
no longer operates its business in Chapter 11, numerous "unusual
circumstances" exist that suggest that confirming the Debtor's
liquidating plan is in the best interest of creditors, and that
converting this case would be more expensive for creditors and
delay their distribution.  The Committee thinks that the motion
does not show that the distribution to creditors would be greater
in Chapter 7 than it will be under the Debtor's proposed
liquidating plan.  It will likely be more expensive than staying
in Chapter 11, the Committee says.

On Aug. 22, the Debtor also objected to the U.S. Trustee's motion.
The Debtor insisted that it has not mismanaged the estate.  The
Debtor stated that the U.S. Trustee has not established cause
under section 1112(b)(4)(A), which provides that cause includes:
"substantial or continuing loss to or diminution of the estate and
the absence of a reasonable likelihood of rehabilitation."

The Debtor also said that conversion to Chapter 7 will not cause
the Venture/Xerox litigation to go away and in fact will likely
increase the costs of resolution by delaying the evidentiary
hearing and causing the Chapter 7 trustee to step in mid-stream.

                         About SCICOM

Headquartered in Minnetonka, Minnesota, SCICOM provides data
processing solutions that transform critical data into effective
customer communications, on any platform, at any time.  SCICOM's
business focus has been employee benefits, retirement and
investment services, and statement processing.

SCICOM Data Services, Ltd., filed a Chapter 11 petition (Bankr. D.
Minn. Case No. 13-43894) on Aug. 6, 2013, in Minneapolis,
Minnesota, with a deal to sell assets to Venture Solutions without
an auction.

Arden Hills, MN-based Venture Solutions is a provider of print and
digital transactional Communications and is a subsidiary of Taylor
Corporation.

Judge Michael E. Ridgway presides over the case.  The Debtor has
tapped Fredrikson & Byron, P.A., as counsel; Lighthouse Management
Group, Inc., as financial consultant; and Shenehon Company as
valuation expert.

The Debtor disclosed $13,254,128 in assets and $17,801,787 in
liabilities as of the Chapter 11 filing.  The petition was signed
by Timothy L. Johnson, senior vice president and CFO.

Daniel M. McDermott, the U.S. Trustee for Region 12, appointed
three creditors to serve in the Official Committee of Unsecured
Creditors in the Chapter 11 case of Scicom Data Services, Ltd.


SCRUB ISLAND: Asks Court to Establish FirstBank Collateral Value
----------------------------------------------------------------
Scrub Island Development Group Limited and Scrub Island
Construction Limited ask the U.S. Bankruptcy Court for the Middle
District of Florida to establish the valuation of FirstBank Puerto
Rico's collateral in order to fix the amount of FirstBank's
secured claim to be paid under FirstBank Option B of the Debtors'
First Amended Joint Plan of Reorganization.

FirstBank Puerto Rico is a commercial banking institution
incorporated under the laws of the Commonwealth of Puerto Rico.
In the proofs of claim filed in these cases, FirstBank has
asserted that, as of the Petition Date, (a) SIDG was indebted to
FirstBank in an aggregate amount of $119,275,858, (b) SICL was
indebted to FirstBank in an aggregate amount of $3,199,861, and
(c) FirstBank was secured by properly perfected liens on certain
real property and personal property of the Debtors located in the
British Virgin Islands.

The Debtors' Plan proposes two treatments for the FirstBank
secured claims, to the extent allowed.  One plan treatment
contemplates payment of the allowed secured claim of FirstBank
based on the value of the Collateral as determined by the Court.

The Debtors estimate that the value of the Collateral is not more
than $40 million.  The estimated secured value of the Collateral
is based on the Debtors' books and records, its knowledge of the
Collateral, statements by FirstBank, and previous appraisals
obtained by FirstBank.  Additionally, FirstBank executed a term
sheet accepting $37.5 million, including a financing component,
during the pendency of these cases.

The Debtors have retained an independent valuation report for the
Collateral.  This valuation is proposed for purposes of
establishing the secured claims of FirstBank with respect to the
Collateral for purposes of confirmation of the Plan.

                       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.


SCRUB ISLAND: Court Denies FirstBank's Bid to End Exclusivity
-------------------------------------------------------------
Judge Michael G. Williamson of the U.S. Bankruptcy Court for the
Middle District of Florida denied FirstBank Puerto Rico's motion
and supplemental motion to terminate Scrub Island Development
Group Limited and Scrub Island Construction Limited's exclusive
solicitation period as to their First Amended Joint Plan dated
July 11, 2014, or alternatively, to find that the Debtors' act of
filing a bankruptcy-exit plan on July 11 caused the automatic
termination of exclusivity, as a matter of law.

FirstBank is the Debtors' prepetition secured lender.

In their response to FirstBank's third motion to terminate
exclusivity, the Debtors contend that the latest motion
predominantly raises issues previously rejected by the Court.

The Debtors argue that they still have not had an opportunity to
confirm a plan, "cause" still does not exist under Section 1121(d)
of the Bankruptcy Code to terminate the exclusivity period, and
the Court cannot determine that there will be an impaired, non-
accepting unsecured class.

                       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.


SCRUB ISLAND: Gets Conditional Approval of Disclosure Statement
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
conditionally approved, subject to the rights of parties to
object, the Disclosure Statement explaining the First Amended
Joint Disclosure Statement of Scrub Island Development Group
Limited and Scrub Island Construction Limited.

Judge Michael G. Williamson also sets these schedules and
deadlines:

   * October 24, 2014, deadline to file objections to the
     Disclosure Statement;

   * November 3, 2014, at 9:00 a.m. (EST), commencement of
     hearing on confirmation of the Plan;

   * October 24, 2014, deadline for election of application of
     Section 1111(b)(2) of the Bankruptcy Code by a class of
     secured creditors as to the Plan;

   * October 24, 2014, deadline for acceptance or rejection of
     the Plan;

   * October 24, 2014, deadline to file objections to
     confirmation of the Plan; and

   * October 30, 2014, date for the Plan proponent to file a
     ballot tabulation for the Plan

Any motions to strike or designate ballots as to ballot(s)
submitted by FirstBank Puerto Rico must be filed by October 27,
2014.  Any motion to strike or designate ballots as to ballot(s)
submitted by any other party must be filed by October 30, 2014.

All creditors and parties in interest that assert a claim against
the Debtors, which arose after the filing of the cases, must file
motions or applications for the allowance of those claims with the
Court no later than 28 days before the first scheduled date of the
Confirmation Hearing.

                       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.


SCRUB ISLAND: May Use Up to $210,000 From RCB Facility
------------------------------------------------------
Scrub Island Development Group Limited sought and obtained an
interim order granting authority to obtain postpetition financing
from RCB Equities #1, LLC, in the principal amount of up to $1.5
million, in accordance to their Loan Commitment Agreement dated
August 19, 2014.

Specifically, the U.S. Bankruptcy Court for the Middle District of
Florida authorized the Debtor to borrow up to $210,000 from the
DIP Lender until the final hearing, which was scheduled earlier
this month, to execute and deliver to the DIP Lender all of the
DIP Loan Documents, and perform its obligations under the DIP Loan
Documents.

The Debtor may use the proceeds of the DIP Facility solely to pay
the expenses set forth in the approved budget, a copy of which is
available for free at:

   http://bankrupt.com/misc/ScrubIsland_DIPBudget_09032014.pdf

The DIP Loan Obligations will bear interest at the rate of 2% per
month on any outstanding advances under the DIP Facility.  At the
time of any advance under the DIP Facility, the DIP Lender will be
entitled to a closing fee in an amount equal to 3% of the amount
of the advance.

In its motion, the Debtor proposed that the DIP Facility will be
secured by a first priority lien on and security interest in all
property of the Debtor located in the United States. The DIP
Lender will also have a superpriority administrative expense claim
having priority over any and all administrative expenses of and
priority claims against the Debtor.

FirstBank Puerto Rico, prepetition secured lender to Scrub Island
Development Group and Scrub Island Construction Limited, objected
to the DIP Financing Motion, asking the Court to deny the Debtors'
request because:

   * the loan costs too much (an APR of 36%);

   * it is not accompanied by any showing of expenses that
     actually must be paid to avoid irreparable harm;

   * it inappropriately seeks to use sizable portions of the
     alleged DIP commitment to pay estate professionals and
     Mainsail Property Management, LLC;

   * provides too little benefit (only $375,000 for payment of
     costs of operation); and

   * moves control of the case away from the Debtor and to the
     DIP Lender.

In a supplementary objection, FirstBank submits that it is
inequitable and inappropriate for the Debtors to have manufactured
the whirlwind timing relating to their emergency motion to approve
the DIP Motion, affording FirstBank less than the requisite notice
period under the Bankruptcy Rules, while at the same time failing
to provide forthright disclosure and full transparency regarding
the DIP Motion.

FirstBank adds that the Debtors' assertion regarding the
purportedly unencumbered nature of the Collateral (all of which
appears to have been purchased with loan proceeds advanced by
FirstBank and stored at FirstBank's expense) implicates matters of
British Virgin Islands law as to which FirstBank reserves all
rights.

FirstBank is represented by:

          W. Keith Fendrick, Esq.
          HOLLAND & KNIGHT LLP
          100 N. Tampa St., Suite 4100
          Tampa, FL 33602
          Telephone: (813) 227-8500
          Facsimile: (813) 229-0134
          E-mail: keith.fendrick@hklaw.com

               - and -

          Zachary H. Smith, Esq.
          MOORE & VAN ALLEN PLLC
          100 North Tryon Street, Suite 4700
          Charlotte, NC 28202-4003
          Telephone: (704) 331-1000
          Facsimile: (704) 331-1159
          E-mail: zacharysmith@mvalaw.com

                       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.


SCRUB ISLAND: May Obtain Up to $185,000 From Mainsail DIP Loan
--------------------------------------------------------------
Judge Michael G. Williamson of the U.S. Bankruptcy Court for the
Middle District of Florida authorized Scrub Island Development
Group Limited to obtain up to $185,000 in interim postpetition
financing from Mainsail Property Management, LLC, secured by a
first lien interest in a receivable due from Miller-Coors in the
approximate amount of $191,000.

Miller-Coors booked the entire Scrub Island Resort for the period
from June 17-21, 2014, and owes the Debtor approximately $191,000.
Under separate agreement with Marriott International, Inc.,
Miller-Coors has 30 days to make the payment to the Debtor.

The Court also ruled that should Mainsail agree to defer repayment
of the DIP Facility notwithstanding the Debtor's collection of the
Receivable, the DIP Facility will continue to enjoy the Section
364(c)(1) priority, will be payable from revenues of the Debtor
(including the proceeds of any further borrowing by the Debtor),
and will mature on the date of the Confirmation Hearing scheduled
in the case.

                       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.


SEADRILL LTD: Bank Debt Trades at 3% Off
----------------------------------------
Participations in a syndicated loan under which Seadrill Ltd is a
borrower traded in the secondary market at 97.00 cents-on-the-
dollar during the week ended Friday, September 19, 2014 according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.52
percentage points from the previous week, The Journal relates.
Seadrill Ltd LLC pays 300 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Feb. 17, 2021, and carries
Moody's Ba3 rating and Standard & Poor's BB- rating.  The loan is
one of the biggest gainers and losers among 212 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


SEARS METHODIST: Panel Can Hire Grant Thornton as Fin'l Advisor
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized the Official Committee of Unsecured Creditors of Sears
Methodist Retirement System Inc. and its debtor-affiliates to
retain Grant Thornton LLP as its financial advisor, nunc pro tunc
as of June 30, 2014.

The firm will:

  a) assist and advise the Committee in the analysis of the
     current financial position of the Debtors;

  b) assist and advise the Committee in its analysis of the
     Debtors' business plans, cash flow projections, restructuring
     programs, selling, general and administrative structure and
     other reports or analyses prepared by the Debtors or their
     professionals, in order to assist the Committee in its
     assessment of the business viability of the Debtors, the
     reasonableness of projections and underlying assumptions, the
     impact of market conditions on forecasted results of the
     Debtors; and the viability of the restructuring strategy
     pursued by the Debtors or other parties in interest;

  c) assist and advise the Committee in its analysis of proposed
     transactions or other variations for which the Debtors or
     other parties in interest seek Court approval including, but
     not limited to, evaluation of competing bids in connection
     with the divestiture of corporate assets, DIP financing or
     use of cash collateral, assumption/rejection of leases,
     extension of exclusivity, objections to claims or liens, and
     other executor contracts, management compensation and
     retention and severance plans;

  d) assist and advise the Committee in its analysis of the
     Debtors' internally prepared financial statements and related
     documents, in order to evaluate performance of the Debtors as
     compared to its projected results;

  e) attend and advise at meetings/calls with the Committee and
     its counsel and representative of the Debtors and other
     parties;

  f) assist and advise the Committee and its counsel in the
     development, evaluation and documentation of any plan(s) of
     reorganization or strategic transaction(s), including
     developing, structuring and negotiating the terms and
     conditions of potential plan(s) or strategic transaction(s)
     including the value of consideration that is to be provided
     thereunder;

  g) assist and advise the Committee in its analysis of the
     Debtors' hypothetical liquidation analyses under various
     scenarios; and

  h) assist and advise the Committee in such other services,
     including but not limited to, other bankruptcy,
     reorganization and related litigation support efforts, tax

     services, valuation assistance, corporate finance advice,
     compensation and benefits consulting, or other specialized
     services as may be requested by the Committee and agreed to
     by the firm, which may require separate written engagement
     letters.

The firm's standard and discounted hourly rates:

                                           Standard   Standard
                                           Hourly     Hourly
     Classification                        Rates      Rates @ 70%
     --------------                        --------   -----------
     Partner/Principal/Managing/Director   $695       $487
     Director                              $610       $427
     Manager                               $465       $325
     Senior Associate                      $360       $252
     Associate                             $250       $175
     Paraprofessional                      $175       $123

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

The Department of Housing and Urban Development (HUD) -- holder of
a first lien and regulatory interest covering Desert Haven
Retirement Community, a 42-unit low-income senior living facility
located in Odessa, Texas -- objected to any use of funds from
Desert Haven to pay the firm's fees and expenses, arguing the use
of those funds violates the regulatory agreements and is contrary
to established case law.  HUD notes it is prepared to seek
turnover through and adversary proceeding or other appropriate
means for any use of its facilities fund, directly or indirectly
intercompany transfers, to pay the firm's and expenses.

The firm can be reached at:

     Paul Melville
     Principal
     GRANT THORNTON LLP
     175 W. Jackson Blvd., 20th Floor
     Chicago, IL 60604
     Tel: 312-856-0200
     Fax: 312-565-4719

HUD retained as counsel:

     Donna K. Webb, Esq.
     Assistant United States Attorney
     Burnett Plaza, Suite 1700
     801 Cherry Street, Unit 4
     Forth Worth, TX 76102-6882
     Tel: 817-252-5200
     Fax: 817-252-5458
     Email: donna.webb@usdoj.gov

                       About Sears Methodist

Sears Methodist Retirement System Inc. provides secure, rewarding,
and luxurious residency to seniors.  The system includes: (i)
eight senior living communities located in Abilene, Amarillo,
Lubbock, Odessa and Tyler, Texas; (ii) three veterans homes
located in El Paso, McAllen and Big Spring, Texas, managed by
Senior Dimensions, Inc., pursuant to contracts between SDI and the
Veterans Land Board of Texas; and (iii) Texas Senior Management,
Inc. ("TSM"), Senior Living Assurance, Inc. ("SLA") and Southwest
Assurance Company, Ltd. ("SWAC"), which provide, as applicable,
management and insurance services to the System.  Sears Methodist
Senior Housing, LLC, is the general partner of, and controls .01%
of the interests in, Canyons Senior Living, L.P. ("CSL").

Sears Methodist and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 14-
32821) on June 10, 2014.  The cases are assigned to Judge Stacey
G. Jernigan.

The Debtors' counsel is Vincent P. Slusher, Esq., and Andrew
Zollinger, Esq., at DLA Piper LLP (US), in Dallas, Texas; and
Thomas R. Califano, Esq., Gabriella L. Zborovsky, Esq., and Jacob
S. Frumkin, Esq., at DLA Piper LLP (US), in New York.  The
Debtors' financial advisor is Alvarez & Marsal Healthcare Industry
Group, LLC, while the Debtors' investment banker is Cain Brothers
& Company, LLC.  The Debtors' notice, claims and solicitation
agent is GCG Inc.

The Debtors have sought and obtained an order authorizing joint
administration of their Chapter 11 cases.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.  The Committee is represented by
Clifton R. Jessup, Jr., Esq., and Bryan L. Elwood, Esq., at
Greenberg Traurig, LLP, in Dallas, Texas.  Grant Thornton LLP
serves as its financial advisor.


SEDGWICK INC: T&H Global Deal No Impact on Moody's B3 CFR
---------------------------------------------------------
Moody's Investors Service is maintaining the ratings of Sedgwick,
Inc. (Sedgwick - corporate family rating B3) following the
company's announcement that it intends to acquire T&H Global
Holdings, LLC and its subsidiaries (T&H), a property loss adjuster
and loss control service provider. Sedgwick plans to borrow $190
million under the accordion feature of its existing credit
facilities to help fund the acquisition. The planned acquisition
does not affect Sedgwick's corporate family rating or its debt
ratings, which include a B1 rating on its first-lien revolver and
term loan and a Caa2 rating on its second-lien term loan. The
rating outlook for Sedgwick is stable.

Ratings Rationale

Sedgwick's ratings reflect its status as the largest third-party
claims service provider in the United States (according to
Business Insurance, based on 2013 gross revenue), its diverse
customer base, product line and geographic spread in the US, and
its strong historic organic revenue growth. As a service provider
to US corporations, insurance companies and self-insured entities,
Sedgwick benefits from a fairly stable earnings profile largely
due to long-term contracts with clients, relatively high switching
costs faced by customers, a stable cost structure, and the lack of
exposure to insurance underwriting risk. These strengths are
offset by the substantial financial leverage and low interest
coverage as well as exposure to errors and omissions claims, a
risk inherent in professional services. Moody's expects that
Sedgwick will continue to pursue a combination of organic growth
and acquisitions, the latter giving rise to integration and
contingent risks.

"Sedgwick's acquisition of T&H will enable it to expand its
product and service offerings to the property insurance market,
cross sell additional services to existing clients, and add
geographic diversification," said Enrico Leo, Moody's lead analyst
for Sedgwick. Offsetting these benefits is the modest increase in
financial leverage following the acquisition.

Sedgwick will fund the acquisition through incremental borrowings
under the accordion feature of its existing credit facilities,
adding $190 million to the second-lien term loan. Giving effect to
these borrowings, the company's pro forma financing arrangement
includes a $125 million revolving credit facility maturing in
February 2019 (rated B1, undrawn at closing), $1,082 million
first-lien term loan maturing in February 2021 (rated B1), and a
$635 million second-lien term loan maturing in February 2022
(rated Caa2). The facilities are secured by substantially all
assets of Sedgwick and guaranteed by subsidiaries.

Based on Moody's estimates, Sedgwick's debt-to-EBITDA ratio will
be approximately 7.5x immediately following the acquisition. Such
leverage is aggressive for the firm's rating category, but Moody's
expects it to decline over the next 12-18 months.

Factors that could lead to an upgrade of Sedgwick's ratings
include: (i) debt-to-EBITDA ratio below 6x, (ii) (EBITDA - capex)
coverage of interest exceeding 2x, and (iii) free-cash-flow-to-
debt ratio exceeding 4%.

Factors that could lead to a downgrade include: (i) debt-to-EBITDA
ratio exceeding 8x on a sustained basis, (ii) (EBITDA - capex)
coverage of interest below 1.2x, or (iii) free-cash-flow-to-debt
ratio below 2%.

Giving effect to the incremental term loans, Sedgwick's ratings
(and revised LGD assessments) include:

  Corporate family rating B3;

  Probability of default rating B3-PD;

  $125 million first-lien revolving credit facility B1 (to LGD2,
  29% from LGD3, 33%);

  $1,082 million first-lien term loan B1 (to LGD2, 29% from LGD3,
  33%);

  $635 million second lien Caa2 (to LGD5, 82% from LGD5, 84%).

The principal methodology used in this rating was Moody's Global
Rating Methodology for Insurance Brokers & Service Companies
published in February 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.

Sedgwick is one of the largest claims service providers in the
United States. The company processes claims for a wide range of
insurance product lines including workers' compensation, general
liability, and disability. T&H provides specialized claims
services including property loss adjusting, field investigation,
third-party claims management and fire and forensics investigation
services to insurance companies, brokers and Fortune 500
companies. Through June 30, 2014 on a trailing twelve months
basis, Sedgwick generated revenues of $1.2 billion.


SEGA BIOFUELS: Court Approves McCallar's Wilson as Counsel
----------------------------------------------------------
SEGA Biofuels, LLC sought and obtained permission from the Hon.
John S. Dalis of the U.S. Bankruptcy Court for the Southern
District of Georgia to employ L. Rachel Wilson of McCallar Law
Firm as counsel, nunc pro tunc to Jan. 31, 2014.

Ms. Wilson joined McCallar in January 2014 and has been providing
professional services related to the general representation of
Debtor in this case and the performance of all legal services for
Debtor which may be necessary in connection with his case.

Pursuant to an Engagement Agreement between the Debtor and
McCallar, Ms. Wilson will continue to assist McCallar with the
following services in connection with the case:

   (a) advise the Debtor on the conduct of the case, including all
       of the legal and administrative requirements of operating
       in chapter 11;

   (b) prepare administrative and procedural applications and
       motions as may be required for the sound conduct of the
       case;

   (c) prosecute and defend litigation that may arise during the
       course of the case;

   (d) consult with the Debtor concerning and participate in the
       formulation, negotiation, preparation and filing of a plan
       or plans of reorganization and disclosure statements to
       accompany the plans;

   (e) review and object to claims;

   (f) analyze, recommend, prepare and bring any causes of action
       created under the Bankruptcy Code;

   (g) take all steps necessary and appropriate to bring the case
       to a conclusion; and

   (h) perform the full range of services normally associated with
       matters such as this which McCallar is in a position to
       provide.

Ms. Wilson's time is billed on an hourly basis at $200 an hour.

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

Ms. Wilson 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.

McCallar can be reached at:

       L. Rachel Wilson, Esq.
       MCCALLAR LAW FIRM
       P.O. Box 9026
       Savannah, GA 31412
       Tel: (912) 234-1215

                       About Sega Biofuels

Sega Biofuels LLC, the owner of a wood-pellet plant in Nahunta,
Georgia, filed a petition for Chapter 11 protection (Bankr. S.D.
Ga. 13-50694) on Sept. 11 in Waycross, Georgia.  The Company
listed assets worth $10.6 million and debt totaling $13.7 million.

C. James McCallar, Jr., Esq., at McCallar Law Firm, in Savannah,
Georgia.

The U.S. Trustee has not appointed an official committee in the
Debtor's bankruptcy case.


SFX ENTERTAINMENT: Moody's Rates 2nd Lien Secured Notes 'Caa1'
--------------------------------------------------------------
Moody's Investors Service affirmed SFX Entertainment, Inc.'s Caa1
second-lien senior secured notes rating. The company's corporate
family rating (CFR) and probability of default rating (PDR) were
affirmed at Caa1 and Caa1-PD, respectively, and ratings on SFX's
revolving credit facility were also affirmed at B1. SFX's ratings
outlook remains stable.

Proceeds from a $50 million add-on notes issue are for general
corporate expenses and future acquisitions. Since SFX raised $220
million of second-line notes due 1 February 2019 (the reference
notes) along with a $30 million revolving facility debt in
February, the company has continued to be acquisitive as it builds
its business platform. The additional debt replenishes liquidity
but, until the benefits of recent acquisitions and sponsorship
transactions flow through, will increase leverage and reduce
coverage.

Issuer: SFX Entertainment, Inc.

  Corporate Family Rating: Affirmed at Caa1

  Probability of Default Rating: Affirmed at Caa1-PD

Outlook: remains Stable

  First Lien Secured Revolving Credit Facility: Affirmed at B1
  (LGD1)

  Second Lien Secured Notes: Affirmed at Caa1 (LGD3)

Ratings Rationale

SFX's Caa1 corporate family rating (CFR) stems primarily from the
equity-like risks to which lenders are exposed, given the
speculative nature of the company's future cash flow at this early
stage of its acquisition-driven development. Forecasting future
cash flow is complicated by the fact that acquired companies have
not yet operated as a unified whole and, even in the absence of
integration risks, significant period to period variability in
acquired company cash flows is common. In addition, integration
costs, including capital expenditures, are likely to be
significant, and the risks of mis-steps are amplified given the
very large number of companies that have been acquired in such a
short period of time. While the upside from geographic replication
of successful properties, from marketing partnerships and from the
elimination of duplicate costs, is potentially significant, given
the substantial purchase multiples observed thus far, it is not
clear that SFX can create value sufficient to repay its debts in a
timely manner.

Rating Outlook

The outlook is stable because SFX has sufficient liquidity to fund
operating losses, capital expenditures and acquisitions.

What Could Change the Rating -- UP

The Caa1 CFR might be upgraded if Moody's were to develop good
visibility and confidence in SFX's future cash flow, coupled with
adequate liquidity and roughly breakeven free cash flow.

What Could Change the Rating -- DOWN

Until SFX's business model stabilizes, liquidity arrangements will
have a significant influence on its rating. In the event liquidity
is constrained and the probability of default increases, downwards
rating pressure will result.

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.

Headquartered in New York, New York, SFX Entertainment, Inc.,
(SFX), with approximately $312 million in pro-forma revenues, is a
leading producer of live events and media and entertainment
content focused exclusively on electronic music culture (EMC).


SHELBOURNE NORTH: Looking for Replacement Plan Lender
-----------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Shelbourne North Water Street LP, the owner of
Chicago Spire in Chicago, is looking for another lender in case a
loan from Atlas Apartment Holdings LLC falls through.  According
to the report, the project's owners filed papers in bankruptcy
court asking permission to substitute another lender in the place
of Atlas, saying that they experience certain delays in working
out final agreement with Atlas.

The Troubled Company Reporter, on Sep. 18, 2014, reported that the
project's owners obtained approval from the bankruptcy court of a
deal for Atlas to provide $135 million to finance the Debtors'
reorganization plan.  The bankruptcy court specifically approved
the First Amendment to Second Amended Plan Investment Agreement
between the Debtor and Atlas.

Chicago Spire has an Oct. 7 confirmation hearing to approve a
reorganization plan sponsored by Atlas.

             About Shelbourne North Water Street L.P.

A group of creditors filed an involuntary Chapter 11 petition
against Chicago, Illinois-based Shelbourne North Water Street L.P.
(Bankr. D. Del. Case No. 13-12652) on Oct. 10, 2013.  The case is
assigned to Judge Kevin J. Carey.

The petitioners are represented by Zachary I Shapiro, Esq., and
Russell C. Silberglied, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware.

The Debtor consented on Nov. 8, 2013, to being in Chapter 11
reorganization.

FrankGecker LLP represents the Debtor in its restructuring
effort.


SIMMONS FOODS: Moody's Assigns 'Caa1' Rating to New $450MM Notes
----------------------------------------------------------------
Moody's Investors Service, Inc., affirmed the ratings of Simmons
Foods, Inc., including the B3 Corporate Family Rating and the Caa1
rating on existing senior secured second-lien notes. Moody's also
assigned a Caa1 rating to $415 million of proposed second-lien
notes being offered, the proceeds from which will be used in part
to fund a concurrent tender offer to purchase its existing $315
million 10.5% senior secured second-lien notes. The company will
use the remaining proceeds to fund a $26.5 million dividend and
for general corporate purposes. Finally, Moody's revised the
rating outlook to stable from positive.

The revision of the outlook to stable from positive reflects the
increased leverage that will result from the proposed transactions
and Moody's expectation that ongoing heavy capital spending will
result in negative free cash flow for the foreseeable future.
These expectations limit the possibility of a rating upgrade in
the near-term.

Simmons has been making aggressive capital investments in recent
years -- over $40 million last year and $19 million in the first
half of 2014 -- partly to improve and expand its pet food
operations. For example, Simmons recently completed a costly
conversion of its former Siloam Springs wet pet food plant into a
pet snacks facility. The conversion is expected to eventually add
higher margin business that will improve sales mix, but the
success of the investment will depend largely on the company's
ability to generate sufficient profitable sales volume to fill the
plant. In addition, the company recently announced a multi-million
canning line expansion of its Emporia, Kansas pet food processing
complex. High levels of capital expenditures, currently running at
175% of depreciation, are a major contributor to the company's
negative cash flows.

Simmons Foods, Inc.

Ratings affirmed:

  Corporate Family Rating at B3;

  Probability of Default Rating at B3-PD;

  $315 million 10.5% senior secured second-lien notes due 2017 at
  Caa1, LGD4.

Ratings assigned:

  $415 million proposed senior secured second-lien notes due 2021
  at Caa1, LGD4.

The outlook is revised to stable from positive.

Concurrent with the proposed $415 million second-lien notes
offering, Simmons launched a tender offer to purchase all of its
existing $315 million 10.5% senior secured second-lien notes due
2017. Net proceeds from the offering will be used primarily to
fund the tender offer and related fees, to pay a $26.5 million
tax-related dividend to the Simmons family and to reduce
outstanding debt under the company's asset-based revolving credit
facility ("ABF").

The proposed refinancing will modestly improve Simmons' liquidity
profile, but will also add financial leverage. As of June 30, 2014
Simmons had $89 million outstanding under the $185 million ABF.
Moody's expects that a successful debt issuance will allow the
company to reduce revolving debt outstandings by at least $30
million, which based on a borrowing base of approximately $185
million and $30 million of outstanding letters of credit, would
give the company $100 million of unused availability. The most
restrictive financial covenant under the ABF is a springing
minimum fixed charge covenant of 1.0 time, which Moody's do not
expect to be applicable over the next year. Assuming $30 million
of transaction related fees and after the planned $26.5 million
divided is paid, Moody's expects that total adjusted debt will
increase by about $57 million to $554 million (including $50
million of capitalized leases) and debt/EBITDA to increase to
about 5.1 times from 4.6 times.

Rating Rationale

Simmons' B3 Corporate Family Rating reflects the company's high
sales concentration (over 50%) in the volatile poultry processing
industry, negative free cash flow caused by heavy capital spending
and shareholder distributions, and recent operational challenges
in its pet food operations. The rating is supported by Simmons'
improved liquidity profile and relatively favorable operating
conditions in the US chicken processing industry -- namely low
corn prices and balanced chicken supplies -- which Moody's expects
will continue at least through next spring.

Simmons' ratings could be upgraded if the company demonstrates
improved operating performance through 2015 and is able to sustain
positive free cash flow. Conversely, the ratings could be lowered
if overall operating performance deteriorates, free cash flow
remains negative, or liquidity erodes.

Simmons Foods, Inc. and its affiliates, headquartered in Siloam
Springs, Arkansas, are a vertically integrated poultry processor,
and the largest private label manufacturer of canned pet food in
the United States. The company operates in three primary business
groups: (i) Poultry; (ii) Pet Food; and (iii) Protein, which
includes Simmons' rendering operations. The company is principally
owned and controlled by members of the Simmons family. Net sales
reported for the twelve month period ended June 28, 2014 totaled
approximately $1.4 billion.

The principal methodology used in this rating was the Global
Protein and Agriculture Industry published in May 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.


SONIFI SOLUTIONS: Lenders Sue Over New Restructuring Deal
---------------------------------------------------------
Stephanie Gleason, writing for Dow Jones Business News, reported
that a group of lenders to Sonifi Solutions, Inc., f/k/a LodgeNet
Interactive, sued the reorganized company and other lenders,
saying a subsequent restructuring is "intended to eviscerate"
their rights under the company's original bankruptcy-exit plan.
According to the report, the lawsuit was filed with the U.S.
Bankruptcy Court in Manhattan as part of LodgeNet's original
Chapter 11 case but involved an agreement that was negotiated
months after the hotel Internet and technology provider exited
bankruptcy in March 2013.

                          About LodgeNet

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq: LNET) -- http://www.lodgenet.com/-- provides interactive
media and connectivity services to hospitality and healthcare
businesses and the consumers they serve.  Recently named by
Advertising Age as one of the Leading 100 US Media Companies,
LodgeNet Interactive serves roughly 1.5 million hotel rooms
worldwide in addition to healthcare facilities throughout the
United States.

As of Sept. 30, 2012, LodgeNet, on a consolidated basis, reported
$292 million in assets and $449 million in liabilities.

LodgeNet Interactive and its affiliates sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 13-10238) on Jan. 27,
2013, with a prepackaged Chapter 11 plan of reorganization.  The
plan extends the maturity date and modifies a $332.6 million
term loan and $21.5 million revolver.  Colony Capital, LLC, is
acquiring 100% of the new shares of the reorganized company for
$60 million.

Weil, Gotshal & Manges LLP serves as counsel to the Debtors;
Leonard Street and Deinard is the co-counsel; Miller Buckfire &
Co., LLC and Moorgate Bankers are the investment banker; FTI
Consulting, Inc. is the financial advisor; and Kurtzman Carson
Consultants is the claims and notice agent.

In March 2013, the Bankruptcy Court approved LodgeNet's
prepackaged Chapter 11 plan.  The Plan was declared effective a
few weeks later.  LodgeNet Interactive Corp. has changed its name
to Sonifi Solutions after the company emerged from bankruptcy.


SOURCE HOME: Cancels Ch. 11 Auction, Sells for $24-Mil.
-------------------------------------------------------
Law360 reported that Source Home Entertainment LLC canceled its
bankruptcy auction after no competing bid was received by the
deadline and said it was prepared to sell its retail display
business to senior secured lender Cortland Capital Market Services
LLC for $24 million.  Corland is owed $52 million on a prepetition
loan, Law360 further reported.

                 About Source Home Entertainment
                       and Source Interlink

Headquartered in Bonita Springs, Florida, Source Home
Entertainment, LLC, manufactures front-end retail checkout
displays and is a leading distributor of books, periodicals, and
other printed material.  Its distribution network spans over
32,500 retail locations in the U.S. and abroad.

In the twelve months ended April 30, 2014, Source Home generated
revenues totaling approximately $600 million on a consolidated
basis.  As of March 31, 2014, Source Home had assets (not
including goodwill or intangibles) of $205 million and liabilities
of approximately $290 million.  Source Interlink Distribution, LLC
disclosed $82,729,238 in assets and $104,521,951 in liabilities.

Source Home, Source Interlink Manufacturing, LLC, and other
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-11553) on June 23, 2014, to sell their front-end retail
display fixtures business to lenders, absent higher and better
offers.  The Debtors are winding down their books distribution
business.

The Debtors have tapped Kirkland & Ellis LLP as general bankruptcy
and corporate counsel; Young Conaway Stargatt & Taylor, LLP, as
co-counsel, FTI Consulting, Inc., as crisis and turnaround
advisor; and Kurtzman Carson Consultants, LLC, as claims agent.
Stephen Dube has been designated by the Debtors to act as chief
restructuring officer and Joshua Korsower to act as chief
financial officer.

The United States Trustee for Region 3 appointed seven creditors
to serve on the Official Committee of Unsecured Creditors.  The
Committee is represented by Lowenstein Sandler LLP, and Duane
Morris LLP.  The Committee tapped PricewaterHouseCoopers LLP as
its financial advisor.


SUN BANCORP: Hires Patricia Schaubeck as EVP & General Counsel
--------------------------------------------------------------
Sun Bancorp, Inc., and its primary subsidiary, Sun National Bank,
announced the appointment of Patricia Schaubeck as executive vice
president and general counsel.

In her role, Ms. Schaubeck will advise the Bank's Management and
the Board of Directors on legal, strategic, regulatory and
governance issues.  Ms. Schaubeck has an extensive background
advising financial institutions on complex legal and regulatory
matters.  Most recently, she served as executive vice president,
general counsel and corporate secretary of Suffolk Bancorp, Inc.,
in Riverhead, N.Y., and its subsidiary Suffolk County National
Bank.  Prior to her tenure at Suffolk, Schaubeck served as general
counsel of State Bancorp, Inc., and its subsidiary State Bank of
Long Island.

Ms. Schaubeck has practiced at several prominent law firms,
representing financial institutions and real estate clients in a
variety of corporate, regulatory, banking and securities issues.
She began her professional career as an examiner for the Office of
the Comptroller of the Currency in their Philadelphia offices.

"Pat's expertise in banking, real estate and securities law will
help us drive our plan of building a platform of sustained
regulatory excellence and operating performance," said president &
CEO Thomas M. O'Brien.  "With a key objective of terminating the
Bank's formal agreement with Office of the Comptroller of the
Currency, Sun will benefit significantly from her strong track
record of advising management, boards of directors and other
stakeholders on key regulatory and strategic business matters."

Ms. Schaubeck received both her JD and MBA from St. John's
University in Jamaica, N.Y.

                         About Sun Bancorp

Sun Bancorp, Inc. (NASDAQ: SNBC) is a bank holding company
headquartered in Vineland, New Jersey, with its executive offices
located in Mt. Laurel, New Jersey.  Its primary subsidiary is Sun
National Bank, a full service commercial bank serving customers
through more than 60 locations in New Jersey.

On April 15, 2010, Sun National Bank entered into a written
agreement with the OCC which contained requirements to develop and
implement a profitability and capital plan which provides for the
maintenance of adequate capital to support the Bank's risk profile
in the current economic environment.

Sun Bancorp reported a net loss available to common shareholders
of $9.94 million in 2013, a net loss available to common
shareholders of $50.49 million in 2012, and a net loss available
to common shareholders of $67.50 million in 2011.

The Company's balance sheet at June 30, 2014, showed $2.89 billion
in total assets, $2.66 billion in total liabilities and $227.65
million in total shareholders' equity.


T-L BRYWOOD: Has Interim Okay to Use Cash Until September 30
------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Indiana
authorized T-L Brywood LLC's continued interim use of cash
collateral until September 30, 2014.

The Debtor will use the cash collateral in which RCG-KC Brywood
LLC, successor to lender Private Bank and Trust Company, asserts
an interest, to properly maintain its property.

As adequate protection from any diminution, in value of the
lender's collateral, the Debtor will maintain premiums for
insurance to cover all of its assets from fire, theft and water
damage.  The Debtor will also reserve sufficient funds for the
payment of current real estate taxes relating to the property
commonly known as Brywood Centre.

A hearing on further access to the cash collateral is scheduled
for September 24, 2014, at 11:30 a.m.

A copy of the proposed budget is available for free at:

     http://bankrupt.com/misc/T-LBrywood_Budget_09042014.pdf

                       About T-L Brywood

T-L Brywood LLC filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 12-09582) on March 12, 2012.  The case was transferred to
the U.S. Bankruptcy Court for the Northern District of Indiana
(Case. 13-21804) on May 14, 2013.

T-L Brywood owns and operates a commercial shopping center known
as the "Brywood Centre" -- http://www.brywoodcentre.com/-- in
Kansas City, Missouri.  The Property encompasses roughly 25.6
acres and comprises 183,159 square feet of retail space that is
occupied by 12 operating tenants.  The occupancy rate for the
Property is approximately 80%.

The Debtor and lender The PrivateBank and Trust Company reached an
impasse over the terms and conditions of another extension of a
mortgage loan on the Property.  As a result, the Debtor filed the
Chapter 11 case to protect the Property from foreclosure while the
Debtor formulates an exit strategy from the reorganization case.
As of the Petition Date, no foreclosure relating to the Property
had been filed by the Lender.

Judge Donald R. Cassling oversees the case.  The Debtor is
represented by David K. Welch, Esq., Arthur G. Simon, Esq., and
Jeffrey C. Dan. Esq., at Crane, Heyman, Simon, Welch & Clar, in
Chicago.

The Debtor disclosed total assets of $16,666,257 and total
liabilities of $13,970,622 in its schedules.  The petition was
signed by Richard Dube, president of Tri-Land Properties, Inc.,
manager.

PrivateBank is represented by William J. Connelly, Esq., at
Hinshaw & Culbertson LLP.

No committee of creditors was appointed by the U.S. Trustee.


TAMPA WAREHOUSE: May Use Cash Collateral Until September 24
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of North
Carolina authorized Tampa Warehouse, LLC, to use "cash collateral"
through September 24, 2014

The cash collateral consists of the rents, issues, and profits
earned by the Debtor in its ordinary course of its business.  The
Rents, along with other real and personal property, secures the
Debtor's indebtedness to Regions Bank.

                      About Tampa Warehouse

Tampa Warehouse, LLC, filed a Chapter 11 petition (Bankr. W.D.N.C.
Case No. 13-32547) in Charlotte, North Carolina, on December 5,
2013.

The Debtor, a Single Asset Real Estate as defined in 11 U.S.C.
Sec. 101(51B), estimated at least $10 million in assets and
between $10 million and $50 million in liabilities.  The Debtor
said its principal asset is located at 6422 Harney Road, in Tampa,
Florida.

Fred D. Godley, as member and manager, signed the bankruptcy
petition.  Owners of the Debtor are:  Charlotte Housing for the
Elderly (145543%), Clinton Housing for the Elderly (6.951%), Fred
D. Godley (12.516%), Monroe Housing for the Elderly (12.516%) and
Rocky Mount Housing for the Elderly (12.403%).

Judge Laura T. Beyer oversees the case.  The Debtor is represented
by represented by Joshua B Farmer, Esq., at Tomblin, Farmer &
Morris, PLLC, in Rutherfordton, North Carolina.  Michael R. Nash,
CPA, PLLC, serves as accountants.

The Bankruptcy Administrator said in December that an official
committee under 11 U.S.C. Sec. 1102 has not been appointed in the
case.

Jimmy R. Summerlin, Jr., Esq., at Young, Morphis, Bach & Taylor,
LLP, represents lender Regions Bank.


TAMPA WAREHOUSE: Plan Confirmation Hearing Set for Wednesday
------------------------------------------------------------
The Bankruptcy Court will hold a hearing for September 24, 2014,
at 9:30 a.m. to consider confirmation of a plan of reorganization
for debtor Tampa Warehouse, LLC.

Both the Debtor and Regions Bank initially proposed exit plans for
the Debtor.  Tampa Warehouse and Fred D. Godley owe more than $18
million to Regions Bank.  The loan is secured by a mortgage lien
and security interest encumbering land and improvements of a
property at 6422 Harney Road, in Tampa.

On August 2, the Court approved the disclosure statements
accompanying each Plan.  The Court initially set September 10 at
9:30 a.m. as the Plan confirmation hearing.

On August 29, the parties delivered to the Court a joint plan of
reorganization.  By doing so, the parties agreed to withdraw the
competing Plans that they have filed.

Under the Plan, Regions' claim will be allowed as filed, as a
fully secured claim, in the amount of $17,776,926 as of August 26,
2014.  The Regions claim will be paid interest only in arrears on
the 15th day of each month beginning 30 das after the Plan
effective date at the existing contract rate.  The full
obligation, including any interest or fees due, will be due and
payable on Feb. 28, 2015.

As of the Plan effective date, CB Richard Ellis will continue to
serve as manager of the Debtor's real property.

The Debtor is required under the Plan to enter into a binding
contract to sell the real property by Dec. 15, 2014; and enter
into a binding contract to sell the real property not subject to
due diligence or other contingencies by Jan. 15, 2015, with a
closing date no later than Feb. 28, 2015.  Any deposits related to
those contracts must be assigned to Regions as additional
collateral.

General unsecured claims of non-insider creditors are expected to
be paid 100% of the allowed claim upon confirmation.  Holders of
insider claims/equity interests will be paid only after all other
claims are fully paid.

A copy of the Joint Plan is available at:

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

                      About Tampa Warehouse

Tampa Warehouse, LLC, filed a Chapter 11 petition (Bankr. W.D.N.C.
Case No. 13-32547) in Charlotte, North Carolina, on December 5,
2013.

The Debtor, a Single Asset Real Estate as defined in 11 U.S.C.
Sec. 101(51B), estimated at least $10 million in assets and
between $10 million and $50 million in liabilities.  The Debtor
said its principal asset is located at 6422 Harney Road, in Tampa,
Florida.

Fred D. Godley, as member and manager, signed the bankruptcy
petition.  Owners of the Debtor are:  Charlotte Housing for the
Elderly (145543%), Clinton Housing for the Elderly (6.951%), Fred
D. Godley (12.516%), Monroe Housing for the Elderly (12.516%) and
Rocky Mount Housing for the Elderly (12.403%).

Judge Laura T. Beyer oversees the case.  The Debtor is represented
by represented by Joshua B Farmer, Esq., at Tomblin, Farmer &
Morris, PLLC, in Rutherfordton, North Carolina.  Michael R. Nash,
CPA, PLLC, serves as accountants.

The Bankruptcy Administrator said in December that an official
committee under 11 U.S.C. Sec. 1102 has not been appointed in the
case.

Jimmy R. Summerlin, Jr., Esq., at Young, Morphis, Bach & Taylor,
LLP, represents lender Regions Bank.


TOYS R US: Bank Debt Trades at 5% Off
-------------------------------------
Participations in a syndicated loan under which Toys R Us is a
borrower traded in the secondary market at 95.00 cents-on-the-
dollar during the week ended Friday, September 19, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 1.31
percentage points from the previous week, The Journal relates.
Toys R Us pays 450 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Aug. 17, 2016, and carries
Moody's B2 rating and Standard & Poor's B- rating.  The loan is
one of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


TPF GENERATION: Bank Debt Trades at 3% Off
------------------------------------------
Participations in a syndicated loan under which TPF Generation
Holdings is a borrower traded in the secondary market at 97.23
cents-on-the-dollar during the week ended Friday, September 19,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 1.38 percentage points from the previous week, The
Journal relates.  TPF Generation Holdings pays 375 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Nov. 14, 2017, and carries Moody's B2 rating and Standard &
Poor's B+ rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


TRUMP ENTERTAINMENT: Taps Prime Clerk as Administrative Advisor
---------------------------------------------------------------
Trump Entertainment Resorts, Inc., et al., seek authority from the
U.S. Bankruptcy Court for the District of Delaware to employ Prime
Clerk LLC as administrative advisor.

Prime Clerk will provide, among other things, the following
administrative services, to the extent requested:

   (a) assisting with, among other things, solicitation,
       balloting, and tabulation and calculation of votes, as well
       as preparing any appropriate reports, as required in
       furtherance of confirmation of any Chapter 11 plan(s) in
       these cases;

   (b) generating an official ballot certification and testifying,
       if necessary, in support of the ballot tabulation results
       for any Chapter 11 plan(s) in these cases;

   (c) gathering data in conjunction with the preparation, and
       assist with the preparation, of the Debtors' schedules of
       assets and liabilities and statements of financial affairs;

   (d) providing a confidential data room, if necessary;

   (e) managing any distributions pursuant to any confirmed
       Chapter 11 plan(s) in these cases; and

   (f) providing other claims processing, noticing, solicitation,
       balloting, and administrative services described in the
       Engagement Agreement.

Prior to the Petition Date, the Debtors provided Prime Clerk a
retainer in the amount of $10,000.

Michael J. Frishberg, the co-president of and chief operating
officer of Prime Clerk LLC, 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.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to close the Trump Plaza by next week,
and, absent union concessions, the Taj Mahal by Nov. 13.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Has Interim Stock Notice Procedures Order
--------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware gave Trump Entertainment Resorts, Inc., et al., interim
authority to establish notification procedures for dispositions of
claims of worthless stock deduction with respect to common stock.

Any purchase, sale, or other disposition of, or declaration of
worthless stock deduction with respect to, common stock in TER of
or of any beneficial ownership thereof in violation of the
procedures established by the Debtors will be null and void ab
initio.

A "Substantial Shareholder" is any entity that has beneficial
ownership of at least 520,532 shares of common stock.

A final hearing on the motion will be conducted on Oct. 6, 2014,
at 10:00 a.m. (ET).  The deadline by which objections to entry of
the proposed final order must be filed is Sept. 29.  If no
objections to the entry of the proposed final order are timely
filed, the Court may enter the Proposed Final Order without
further notice or a hearing.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to close the Trump Plaza by next week,
and, absent union concessions, the Taj Mahal by Nov. 13.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Has Interim OK to Pay Critical Vendors
-----------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware gave Trump Entertainment Resorts, Inc., et al., interim
authority to pay, honor, or otherwise satisfy claims filed by
critical vendors.

The Debtors are authorized to pay (i) claims filed pursuant to the
Perishable Agricultural Commodities Act and the Packers and
Stockyards Act in the ordinary course of their business up to an
aggregate amount of $100,000; (ii) lien claims up to an aggregate
amount of $100,000; (iii) claims filed pursuant to Section
503(b)(9) of the Bankruptcy Code up to an aggregate amount of
$1,000,000; (iv) Critical Vendor Claims up to an aggregate amount
of $2,275,000.

A final hearing on the motion will be conducted on Oct. 6, 2014,
at 10:00 A.M. (ET).  The deadline by which objections to entry of
the proposed final order must be filed is Sept. 29.  If no
objections to entry of the proposed final order are timely filed,
the Court may enter the proposed final order without further
notice or a hearing.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to close the Trump Plaza by next week,
and, absent union concessions, the Taj Mahal by Nov. 13.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Plagued by Past Ch. 11 Mistakes, Experts Say
-----------------------------------------------------------------
Law360 reported that there are experts who say Trump Entertainment
Resorts Inc. was also hobbed by crucial missteps it made during
its last trip through bankruptcy.  According to the report, citing
a declaration by CEO Robert Griffin, when the company emerged from
its last Chapter 11 in 2010, it was still holding roughly $300
million in debt that was costing it nearly $40 million per year to
service.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Donald Trump Says He May Buy Back Casinos
--------------------------------------------------------------
Law360 reported that Donald J. Trump indicated that he's
considering buying back in to the bankrupt casinos that bear his
name, tweeting that he may be interested in making an offer to
rescue the two Trump Entertainment Resorts Inc. gaming properties
in Atlantic City, one of which closed hours before his
announcement.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


US STEEL CANADA: Files CCAA Case; Ernst & Young Mames as Monitor
----------------------------------------------------------------
U.S. Steel Canada Inc. on Sept. 16 commenced court-supervised
restructuring proceedings under the Companies' Creditors
Arrangement Act, R.S.C. 1985, c. C-36, before the Ontario Superior
Court of Justice (Commercial List).  Ernst & Young Inc. has been
appointed by the CCAA court as monitor pursuant to an Initial
Order dated Sept. 16.

The Initial Order provides, among other things, a stay of
proceedings until Oct. 15, 2014, and maybe extended by the Court
from time to time.

The Initial Order prohibits U.S. Steel Canada from making payments
of amounts relating to the suplly of goods or services prior to
Sept. 16, other than payments to certain parties as specified in
the Initial Order.

During the Stay Period, all parties are prohibited from commencing
or continuing legal action against U.S. Steel Canada and all
rights and remedies of any party against or in respect of U.S.
Steel Canada or its assets are stayed and suspended except with
the written consent of, inter alia, U.S. Steel Canada and the CCAA
Monitor, or leave of the Court.

To date, no claims procedure has been approved by the Court and
creditors are therefore not required to file a proof of claim at
this time.

The CCAA Monitor may be reached at:

     Ernst & Young Inc.
     PO Box 251
     222 Bay Street
     Toronto, ON M5K1J7
     Canada
     Fax: 416-943-3300


US STEEL CANADA: Oct. 6 Hearing to Approve C$186MM DIP Loan
-----------------------------------------------------------
The Ontario Superior Court of Justice (Commercial List) scheduled
a hearing in Toronto on Oct. 6 to consider approval of debtor-in-
possession financing in the amount of C$185 million obtained by
U.S. Steel Canada Inc.

The CCAA Court will also consider approval of the "charge" on the
assets of U.S. Steel Canada to secure the DIP Financing advanced
to fund operations during the CCAA proceedings and certain other
charges.  The proposed Priority Charges would rank in priority to
all security interests, trusts, liens, chargers and encumbrances,
claims of secured creditors, statutory or otherwise, including any
deemed trust created under the Pension Benefits Act.

U.S. Steel Canada commenced court-supervised restructuring
proceedings under the Companies' Creditors Arrangement Act, R.S.C.
1985, c. C-36, before the Ontario Superior Court of Justice
(Commercial List) on Sept. 16, 2014.  Ernst & Young Inc. has been
appointed by the CCAA court as monitor pursuant to an Initial CCAA
Order.


US STEEL CANADA: May Continue to Contribute Under Pension Plans
---------------------------------------------------------------
U.S. Steel Canada Inc. has responsibilities under various pension
and retirement plan arrangements consisting of:

     -- 9 defined benefit registered pension plans (the Hamilton
BU Pension Plan, the Hamilton Salaried Pension Plan, the LEW BU
Pension Plan, the LEW Salaried Pension Plan, The LEW Pickling
Facility Pension Plan, the Steinman Plan, the Welland Salaried
Plan, the Stelpipe BU Plan, and the Stelpipe Salaried Plan);

     -- 4 Group RRSP arrangements (the Opportunity Plan GRRSP,
Hamilton BU GRRSP, the Lake Erie BU GRRSP, and the Pickle Line BU
GRRSP; and

     -- certain individual supplemental "Retirement Benefit
Contracts" and "Retiring Allowances"

U.S. Steel Canada notifies beneficiaries under one or more of
those plans that, in the Initial CCAA Order, U.S. Steel Canada
sought and obtained permission from the CCAA Court to continue
making contributions with respect to various Plans at this time.

The CCAA Court scheduled a hearing in Toronto on Oct. 6 to, among
other things, determine whether debtor-in-possession financing in
the amount of C$185 million will be approved, together with a
"charge" on the assets of U.S. Steel Canada to secure the DIP
Financing advanced to fund operations during the CCAA proceedings
and certain other charges.  The proposed Priority Charges would
rank in priority to all security interests, trusts, liens,
chargers and encumbrances, claims of secured creditors, statutory
or otherwise, including any deemed trust created under the Pension
Benefits Act.

U.S. Steel Canada acts as both "employer" and "administrator" in
respect of the DB Registered Pension Plans and the Opportunity
Plan GRRSP.  U.S. Steel Canada intends to continue to act in both
capacities during the CCAA proceedings.  Conflicts can arise
between employer and administrator responsibilities.

U.S. Steel Canada commenced court-supervised restructuring
proceedings under the Companies' Creditors Arrangement Act, R.S.C.
1985, c. C-36, before the Ontario Superior Court of Justice
(Commercial List) on Sept. 16, 2014.  Ernst & Young Inc. has been
appointed by the CCAA court as monitor pursuant to an Initial CCAA
Order.


US STEEL CORP: Fitch Affirms 'BB-' Issuer Default Rating
--------------------------------------------------------
Fitch Ratings has affirmed United States Steel Corporation's (U.S.
Steel; NYSE: X) Issuer Default Rating (IDR) and debt ratings at
'BB-'.

The Rating Outlook is Stable.

On Sept. 16, 2014, U.S. Steel Canada Inc., an indirect wholly
owned subsidiary of U.S. Steel, applied for relief from its
creditors under Canada's Companies' Creditors Arrangement Act.
Another subsidiary of U.S. Steel has agreed to provide U.S. Steel
Canada with a C$185 million secured DIP facility to allow the
company to operate through Dec. 31, 2015 when the facility
expires.

The filing is an event of default under the terms of the Province
Note Loan Agreement dated as of March 31, 2006 covering U.S. Steel
Canada notes in the aggregate principal amount of C$150 million.
The terms provide that the Province note became immediately due
and payable upon the filing. As a result of the filing, USSC will
not be able to pay the amount due and payable on the Province note
absent approval from the Court.

Failure to pay the Province note when due would constitute an
event of default that enables the trustee for, or the holders of
not less than 25% of the outstanding principal amount of, U.S.
Steel's 2.75% senior convertible notes due 2019 in the aggregate
principal amount of $316 million to declare the notes immediately
due and payable. U.S. Steel has stated their intention to repay
the notes in cash should they become due and payable. Neither the
filing, nor the possible acceleration of the 2.75% notes triggers
any other material defaults under any other U.S. Steel Canada or
U.S. Steel financing arrangements.

U.S. Steel's cash on hand, excluding amounts at U.S. Steel Canada,
was $1.3 billion at June 30, 2014 and the company is well able to
fund the DIP and the 2.75% note redemption. Fitch believes that
U.S. Steel would immediately pay the 2.75% notes should they be
accelerated and that there will be no payment default.

The U.S. Steel Canada operations have been loss making over the
past five years therefore, Fitch does not expect the filing to
result in further stress on U.S. Steel.

Key Rating Drivers:

The ratings reflect U.S. Steel's leading market positions in flat-
rolled and tubular steel in the U.S., together with its high
degree of control over its raw materials offset by the high fixed
costs of integrated steel producers.

U.S. Steel is the second largest North American flat-rolled steel
producer with annual raw steel production capacity of 19 million
tons in the U.S. North American flat-rolled shipments were 15
million tons for 2013. U.S. Steel is the largest integrated North
American tubular producer, with capacity of 2.8 million tons; 2013
shipments were 1.8 million tons. U.S. Steel also operates a five
million ton per year integrated steel operation in Kosice,
Slovakia.

U.S. Steel's production of iron ore pellets from its own
operations was 21.7 million tons and from its share of joint
ventures was 2.4 million tons in 2013, accounting for a
significant share of its needs. In 2013, North American raw steel
produced was 18 million tons and, assuming 1.3 tons of iron ore
pellets are needed to produce 1 ton of raw steel, 23 million tons
of iron ore pellets were consumed.

The U.S. steel industry is challenged by low capacity utilization
(about 77% on average for 2013 and 76% on average year to date
2014). Permanent closure at U.S. Steel's Hamilton's raw
steelmaking operations and at the former RG Steel LLC plants
should improve capacity utilization as should growth in
construction demand. Fitch believes that margins are vulnerable
when capacity utilization is below 80% and that capacity
utilization could remain below 80% through 2014.

The domestic steel market has shown supply discipline, but global
overcapacity and lack of discipline elsewhere has limited pricing
power while bidding up raw material prices. Globally, increased
supply of iron ore and coking coal coupled with slower growth in
steel production has provided relief from raw materials
escalation.

Adequate Liquidity:

U.S. Steel generated operating EBITDA of $863 million and $943
million of free cash flow after capital expenditures of $442
million and dividends of $30 million for the latest 12 months
(LTM) ended June 30, 2014. Also as of June 30, 2014, pro forma for
the deconsolidation, cash on hand was $1.3 billion; total debt was
$3.5 billion; the $875 million inventory facility maturing July
20, 2016 and the $625 million receivables facility maturing July
12, 2016 were undrawn; the receivables facility was utilized for
$50 million in letters of credit at June 30, 2014. The inventory
facility has a 1.00:1.00 fixed-charge coverage ratio requirement
only at such times as availability under the facility is less than
$87.5 million.

Total liquidity of $3.2 billion at June 30, 2014 compares with
2014 guidance of capital expenditure at $620 million, cash pension
and other benefits at $525 million, and Fitch estimated net
financial costs at $250 million.

As of Dec. 31, 2013, defined benefit pension plans were
underfunded by $1.1 billion on a GAAP basis. Pension and other
post-employment benefit costs were $451 million for 2013 and cash
payments were $473 million including the $140 million voluntary
contribution to the main U.S. defined benefit pension plan. Costs
guidance for 2014 is $345 million and cash payments are expected
to be $525 million. The company has voluntarily contributed $140
million per year to the main defined pension plan over each of the
past eight years.

Fitch expects EBITDA of at least $1 billion and free cash flow to
be positive for 2014.

Fitch expects leverage to drop below 4x through 2014 with
scheduled debt repayment and cost improvements. Estimated pro
forma near-term scheduled maturities of debt are $62 million in
2015; $45 million in 2016; $500 million in 2017; and $503 million
in 2018. The 2.75% convertible issue in the aggregate principal
amount of $316 million is due in 2019 but could become due and
payable immediately if accelerated. Total debt/operating EBITDA
was 4.25x at June 30, 2014.

The Stable Outlook reflects Fitch's view that U.S. Steel's
liquidity is sufficient to support operations should the recovery
in steel demand remain weak over the next 12-18 months.

Rating Sensitivities:

Negative: Future developments that may, individually or
collectively, lead to negative rating action include:

-- Deterioration in liquidity coupled with cash burn greater than
   $300 million;

-- Weaker than expected operating results resulting in total
   debt/EBITDA sustainably above 4.5x;

-- A debt-financed recapitalization or debt-financed acquisition.

Fitch views these events as unlikely.

Positive: Future developments that may, individually or
collectively, lead to positive rating action include:

-- Sustained positive free cash flow generation and debt
   repayment.

Fitch affirms U.S. Steel's ratings as follows:

-- Long-term IDR at 'BB-';
-- Senior secured credit facility at 'BB';
-- Senior unsecured notes at 'BB-'.


VARIANT HOLDINGS: Can't Get Creditor's Trustee Motion Pushed Back
-----------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Brendan L. Shannon in
Wilmington, Del., said he would take up a creditor's call to
install a Chapter 11 trustee for Variant Holding Co. LLC at a
hearing on Sept. 30, when he'll also consider the debtor's bid to
hand the reins of the real estate company over to a chief
restructuring officer.  According to Law360, Judge Shannon
determined that the competing motions should be considered
simultaneously.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.


VERITEQ CORP: Amends Q2 Form 10-Q to Correct Net Loss Per Share
---------------------------------------------------------------
Veriteq Corporation had amended its quarterly report on Form 10-Q
for the three months ended June 30, 2014, to amend disclosure of
net loss per share with respect to, among other things, the
following items:

  (i) the Statements of Operations for the three and six-months
      ended June 30, 2014, and 2013 and from Dec. 14, 2011, to
      June 30, 2014;

(ii) footnotes 1 and 9 of the unaudited condensed consolidated
      financial statements;

(iii) the certifications of the Company's chief executive and
      chief financial officer; and

  (v) the Company's financial statements formatted in XBRL in
      Exhibit 101.

For the three months ended June 30, 2014, the Company reported a
net loss per common share of $0.40 as compared to a net loss per
common share of $0.28 as previously reported.

For the six months ended June 30, 2014, the Company reported a net
loss per common share of $0.08 compared to a net loss per common
share of $0.06 as originally reported.

In the Company's Original Form 10-Q, the weighted average shares
outstanding - basic and diluted and the resulting loss per common
share attributable to common stockholders - basic and diluted, for
the three and six-months ended June 30, 2014, did not correctly
state the number of weighted-average shares outstanding due to a
calculation error related to shares issuable under certain right
to shares agreements that the Company entered into during June
2014.

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

                        http://is.gd/Tg4Tzi

                           About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ offers the world's first FDA
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.  For more information on VeriTeQ, please
visit www.veriteqcorp.com .

Veriteq Corporation reported a net loss of $15.07 million on
$18,000 of sales for the year ended Dec. 31, 2013, as compared
with a net loss of $1.60 million on $0 of sales for the year ended
Dec. 31, 2012.  As of June 30, 2014, the Company had $7.04 million
in total assets, $14.16 million in total liabilities and a $7.12
million total stockholders' deficit.

EisnerAmper LLP, in New York, New York, 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 incurred recurring net losses, and at Dec. 31,
2013, had negative working capital and a stockholders' deficit.
These events and conditions raise substantial doubt about the
Company's ability to continue as a going concern.


WALKER LAND: Sept. 24 Hearing on Approval of Plan Disclosure
------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Sept. 24, 2014, at
1:30 p.m., to consider adequacy of information in the Amended
Disclosure Statement explaining Walker Land & Cattle, LLC's
First Amended Plan of Reorganization.

As reported in the Troubled Company Reporter on Sept. 10, 2014,
under Debtor's proposed Plan of Reorganization, all of its
creditors will be paid in full, with interest, over the term of
the Plan, by the Debtor taking the following  steps:

   1. The Debtor has agreements to sell $10,000,000.00 in real
property upon confirmation of the Plan and pay during the first
twelve months:

      * $1,513,928 to Rabo Agrifinance;

      * $5,677,691 to Wells Fargo Bank;

      * $692,669 to John Deere Credit;

      * $810,058 to General Unsecured Creditors (Class 51); and

      * Remaining balance retained to fund future plan payments to
secured and unsecured creditors and as working capital.

   2. The Debtor will pay creditors through improved farm
operations boosting profitability, while reserving the right to
obtain take out financing and prepay unsecured creditors in the
future.

The Debtor said in the filing dated Sept. 3, 2014, that pursuant
to Section 1125 of the Bankruptcy Code, it has obtained an order
of the Court approving this Disclosure Statement for submission to
the holders of claims against it to allow claim holders to vote
for or against Plan.

A copy of the First Amended Disclosure Statement is available for
free at http://bankrupt.com/misc/WALKERLAND_472_1ds.pdf

Under the Debtor's proposed Plan, all of its creditors will be
paid in full, with interest, over the term of the Plan, by the
Debtor taking these steps:

      1. The Debtor has agreements to sell $10 million in real
         property upon confirmation of the Plan and pay during
         the first 12 months: (i) $1.51 million to Rabo
         Agrifinance; (ii) $5.68 million to Wells Fargo Bank;
         (iii) $692,669 to John Deere Credit; (iv) $810,058
         to general unsecured creditors (Class 51); and
         (v) remaining balance retained to fund future plan
         payments to secured and unsecured creditors and as
         working capital; and

      2. The Debtor will pay creditors through improved farm
         operations boosting profitability, while reserving the
         right to obtain take out financing and prepay unsecured
         creditors in the future.

Farm operation improvements include expanded joint venture/crop
share agreement with Foster Co.

All of these measures will allow the Debtor to retire debt as
follows:

      1. First, secured creditors will be paid the full amount of
         their claims, plus interest;

      2. Second, General Unsecured Creditors with allowed claims
         will receive payment in full, with interest post-
         confirmation at the Wall Street Journal prime rate
         (anticipated to be 3.25%) in equal installments over the
         next six years, with the Debtor reserving the right to
         prepay these creditors as funds allow or with take out
         financing;

      3. Third, the related entities class (Class 52) holding
         unsecured claims and the equity interests (Class 53)
         will not be paid until other classes of creditors are
         satisfied; and

      4. Fourth, the Debtor will seek take out financing in order
         to prepay debts.

                          Stipulations

On Sept. 9, the Debtor notified the Court of a stipulation for
plan treatment with AAAUrethane, Inc., a secured creditor.

AAAUrethane provided the installation of insulation in the
Debtor's shop, real property commonly known as 14329 W. Arco
Highway, Idaho Falls, Idaho.

AAAUrethane previously requested for relief from the automatic
stay in order to file mechanic/materialman's lien. On Jan. 30,
2014, the Court allowed AAAUrethaneto file its mechanic/
materialman's lien.  Objections and responses were filed in
relation to this.

The Debtor and AAAUrethane determined to resolve issues by:

   1. the Plan treatment of Class 18 will be modified;

   2. specifically, the Debtor and AAAUrethane stipulate that AAA
must be allowed an administrative claim in an amount of $22,179;

   3. the Debtor agreed to incorporate the modified plan treatment
in its Plan of Reorganization and any and amendments thereto; and

   4. AAAUrethane agree to consent to the terms and conditions of
the Debtor's Plan of Reorganization incorporating the modified
plan treatment .

A copy of the plan stipulation is available for free at:

  http://bankrupt.com/misc/WALKERLAND_484_plantreatmentstip.pdf

Bankruptcy Judge Jim D. Pappas, on Sept. 4, approved a stipulation
for the treatment of claims and assumption and rejection of
equipment leases.

The stipulation entered between the Debtor, Deere Credit, Inc. and
Deere & Co., provides that:

   1. the Debtor is authorized to assume the lease of a John Deere
320D Skid Steer Loader, Lease No. ***21-025, represented by Deere
Credit's Claim No. 87;

   2. the next scheduled lease payment is due Sept. 13, 2014, in
the amount of $4,637;

   3. the Debtor is authorized to make the lease payment from the
"contingency" line item in its cash collateral budget.

                About Walker Land & Cattle, LLC

Walker Land & Cattle, LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Idaho Case No. 13-41437) on
Nov. 15, 2013.  The case is assigned to Judge Jim D. Pappas.

The petition was signed by Roland N. (Rollie) Walker, manager.

The Debtor's counsel is Robert J Maynes, Esq., at Maynes taggart,
PLLC, in Idaho Falls, Idaho.

The Debtor reported $72,688,397 in total assets and $46,346,375 in
total liabilities.

The U.S. Trustee for Region 18 has appointed an official committee
of unsecured creditors in the case.  The Committee is represented
by Bruce K. Medeiros, Esq., and Barry W. Davidson, Esq., at
Davidson Backman Medeiros PLLC, in Spokane, Washington.

Secured creditor, Wells Fargo Bank, is represented by Larry E.
Prince, Esq., and Kirk S. Cheney, Esq., at Holland & Hart LLP, in
Boise, Idaho.

Wells Fargo and the Debtor have filed competing Chapter 11 plans.
Wells Fargo is proposing a plan of liquidation while the Debtor is
seeking approval of a reorganization plan.


WALTER ENERGY: Bank Debt Trades at 10% Off
------------------------------------------
Participations in a syndicated loan under which Walter Energy, Inc
is a borrower traded in the secondary market at 90.50 cents-on-
the-dollar during the week ended Friday, September 19, 2014
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 3.64 percentage points from the previous week, The Journal
relates.  Walter Energy, Inc. pays 575 basis points above LIBOR to
borrow under the facility.  The bank loan matures on March 14,
2018.  The bank debt carries Moody's Ba3 rating and Standard &
Poor's B- rating.  The loan is one of the biggest gainers and
losers among 255 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


WATERFORD GAMING: Moody's Lowers Corporate Family Rating to Ca
--------------------------------------------------------------
Moody's Investors Service lowered Waterford Gaming, LLC's
Probability of Default Rating to D-PD from Caa2-PD, its Corporate
Family Rating to Ca from Caa3, and the rating on its 8.625% senior
unsecured notes to Ca from Caa3. This rating action follows
Waterford's inability to repay the approximate $41 million of
outstanding notes upon maturity on September 15, 2014. The rating
outlook is negative.

The company entered into a forbearance agreement with a majority
of its lenders pursuant to which the note holders have agreed to
forbear from exercising their rights and remedies under the
indenture governing the notes. Waterford will continue to
indirectly receive its share of the relinquishment payment from
Mohegan Tribal Gaming Authority (B3 negative) until January 25,
2015.

The negative outlook recognizes that the remaining relinquishment
payments will not be sufficient to repay the outstanding notes in
full.

The following ratings were lowered:

Corporate Family Rating to Ca from Caa3

Probability of Default Rating to D-PD from Caa2-PD

Approximate $41 million 8.625% senior unsecured notes to Ca (LGD4)
from Caa3 (LGD4)

The principal methodology used in this rating was Global Gaming
Industry published in June 2014. Other methodologies used include
Loss Given Default for Speculative-Grade Non-Financial Companies
in the U.S., Canada and EMEA published in June 2009.

Waterford is a special purpose company formed solely for the
purpose of holding its 50% partnership interest, as a general
partner, in Trading Cove Associates, a Connecticut general
partnership and the manager (until January 1, 2000) and developer
of the Mohegan Sun Casino located in Uncasville, CT. TCA receives
relinquishment fees based on certain gross revenues of the Mohegan
Sun Casino, which is owned and operated by the Mohegan Tribal
Gaming Authority.


WESTERN ENERGY: Moody's Raises Corporate Family Rating to B1
------------------------------------------------------------
Moody's Investors Service upgraded Western Energy Services Corp.'s
(Western) Corporate Family Rating (CFR) to B1 from B2, Probability
of Default Rating to B1-PD from B2-PD, and the senior unsecured
notes rating to B2 from B3. Moody's changed the Speculative Grade
Liquidity Rating to SGL-2 from SGL-3. The rating outlook remains
stable.

Issuer: Western Energy Services Corp.

Upgrades:

Probability of Default Rating, Upgraded to B1-PD from B2-PD

Speculative Grade Liquidity Rating, Changed to SGL-2 from SGL-3

Corporate Family Rating, Upgraded to B1 from B2

Senior Unsecured Regular Bond/Debenture, Jan 30, 2019, Upgraded to
B2 from B3

Outlook Actions:

Outlook, Remains Stable

"The upgrade to B1 reflects Western's increased size, solid track
record, and maintenance of low leverage while growing the
business" said Paresh Chari, Moody's analyst.

Ratings Rationale

Western's B1 Corporate Family Rating (CFR) is driven by its small
scale and geographic concentration, significant exposure to the
cyclical and seasonal contract land drilling business and
execution risks associated with the rig build program. The rating
also considers Western's high quality assets, modest diversity
provided by its production services division, good margins, very
low leverage and experienced management.

The C$265 million senior unsecured notes (due January 2019) are
rated one notch below the B1 CFR due to the priority ranking C$135
million secured credit facilities in accordance with Moody's Loss
Given Default Methodology.

Western Energy's SGL-2 liquidity rating reflects good liquidity.
As of June 30, 2014 Western had C$70 million of cash and full
availability under its C$125 million revolving credit facility due
October 2017. Moody's expect negative C$60 million of free cash
flow from June 30, 2014 to September 30, 2015, which will be
funded with cash. Moody's expect Western will remain well in
compliance with its three financial covenants (Consolidated Senior
Debt to Consolidated EBITDA not greater than 2x, Consolidated Debt
to Consolidated Capitalization not greater than 0.6, Consolidated
EBITDA to Consolidated Interest Expense not less than 2.5x)
through this period. Alternate liquidity is limited given that
substantially all of the company's assets are pledged under the
revolver.

The stable outlook considers the company's low leverage and
Moody's anticipation that demand for its long reach horizontal
rigs will remain relatively stable through 2014 and 2015.

The rating could be upgraded if Western can increase its
geographic diversification, continue to grow its rig fleet while
maintaining adjusted debt to EBITDA around 2x.

The rating could be downgraded if Western's adjusted debt to
EBITDA was likely to remain above 3.5x.

Western Energy Services Corp., based in Calgary, Alberta provides
land drilling services, well servicing and oilfield rental
equipment to North American Exploration and Production (E&P)
companies.

The principal methodology used in this rating was the Global
Oilfield Services Rating Methodology published in December 2009.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.


WHITEWAVE FOODS: So Delicious Dairy Deal No Impact on Moody's CFR
-----------------------------------------------------------------
Moody's Investors Service related in a Sept. 18, 2014, release
that the planned $195 million acquisition of plant-based food
company, So Delicious Dairy Free (So Delicious) by WhiteWave Foods
is a long term credit positive. However, the transaction will not
affect the company's Ba2 corporate family rating or stable
outlook.

In an earlier Sept. 11, 2014 ratings release, Moody's assigned a
first time Corporate Family Rating (CFR) of Ba2, a Probability of
Default Rating of Ba2-PD and a Speculative Grade Liquidity rating
of SGL-2 to Denver-based WhiteWave Foods Company.  At the same
time, Moody's rated the company's new senior unsecured notes at
B1. The rating outlook is stable.

Ratings Assigned:

Corporate Family Rating at Ba2
Probability of Default Rating at Ba2-PD
Senior Unsecured Note Rating at B1(LGD6)
Speculative Grade Liquidity Rating at SGL-2
Outlook: Stable

Moody's said the ratings reflect the company's leading presence in
small but rapidly growing food & beverage categories, its good
product diversification , solid innovation track record and
healthy operating cash flow. The rating is constrained by the
company's moderate to high leverage, low profitability for a
packaged consumer business, ambitious acquisition strategy and
associated integration risk as well as risks related to supply of
organic ingredients and significant growth capital spending.

The senior unsecured rating is two notches below the corporate
family rating owing to the large amount of secured debt with a
higher priority claim in the capital structure.

WhiteWave's liquidity (SGL-2) is supported by its solid cash from
operations, a relatively large $1 billion revolving credit
facility, ample covenant cushion, lack of near-term debt
maturities, limited maintenance capital spending needs, and no
planned payout to shareholders. However the company's free cash
flow will be negative in 2014 and 2015 because of significant
planned growth capital expenditures and increased working capital
necessary to support growth in the business.

The stable outlook reflects Moody's assumption that debt to EBITDA
leverage will remain modest, at about 4 times or under over the
next 12-18 months, despite an aggressive acquisition strategy and
the need to fund growth. Moody's also assumes that management will
remain conservative with respect to its shareholder return policy
while the company is in a rapid growth phase, and that operating
profit margins will remain stable or slightly improve over time,
despite the potential for volatility in certain input prices.

To achieve an upgrade, WhiteWave would need to improve its scale
as well as geographic and product diversification, maintain or
improve EBIT margins and commit to maintain debt to EBITDA
leverage at levels closer to 3 times.

A downgrade could occur should the company pursue large leveraged
acquisitions or shareholder returns, if liquidity weakens, or if
operating performance deteriorates such that the company is unable
to sustain EBIT margins above 5%. Debt/EBITDA sustained above 5
times or retained cash flow to net debt sustained below 10% could
also lead to a downgrade.

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

WhiteWave Foods Company ("WhiteWave"), based in Denver, Colorado,
is a consumer packaged food and beverage company focused on high-
growth product categories. It manufactures, markets, distributes
and sells branded plant-based foods and beverages, coffee creamers
and beverages, premium dairy and organic greens and produce
throughout North America and Europe. The company's Silk,
International Delight, Horizon Organic and Earthbound Farm brands
have #1 or #2 market positions based on retail sales in the United
States, & Alpro has a #1 brand position in Europe. LTM sales for
the period ended in June, 2014 totaled approximately $3 billion.

So Delicious Dairy Free, based in Eugene, Oregon, with LTM sales
of $115 million produces dairy free, 100% plant based and non-GMO
foods and beverages.


YRC WORLDWIDE: Amends Debt Leverage Ratio Covenant
--------------------------------------------------
YRC Worldwide Inc. had amended its term loan credit agreement to
revise its leverage ratio covenant from the third quarter of 2014
through the fourth quarter of 2016, the Company stated in a
regulatory filing with the U.S. Securities and Exchange
Commission.

"During the first half of the year, revenue has kept pace with our
forecast, however, the harsh winter season in the first quarter of
this year and subsequent network inefficiencies at YRC Freight in
the second quarter of this year resulted in lower than originally
anticipated productivities," said James Welch, chief executive
officer of YRC Worldwide, "and the rate of improvement at YRC
Freight is taking longer to materialize than expected.  The
Regional carriers, on the other hand, continue to perform near
expected levels and in the range of the market's margins.  While
we project to be in compliance with our third quarter leverage
ratio covenant, we are launching the amendment now to take
uncertainty out of the market and to allow the company to continue
making progress on its performance and yield improvement plans,"
stated Welch.

"Our progress in the third quarter can be measured by yield and
tonnage increases at both YRC Freight and the Regional segment.
YRC Freight reported total revenue per hundredweight increases of
2.8% in July and 3.3% in August," Welch continued.  "It also
reported tonnage per day increases of 2.4% in July and 0.8% in
August.  The Regional segment reported total revenue per
hundredweight increases of 1.5% in July and 0.6% in August and
reported tonnage per day increases of 4.2% in July and 3.7% in
August.  We are continuing to experience these same trends in the
month of September at each of our operating segments," concluded
Welch.

"As a result of the performance initiatives and positive yield
results thus far in the quarter, we anticipate reporting Adjusted
EBITDA (defined as Consolidated EBITDA in the Credit Agreement) of
approximately $75 million to $80 million and operating income of
approximately $22 million to $27 million for the third quarter of
this year," said Jamie Pierson, chief financial officer of YRC
Worldwide.  "This projected Adjusted EBITDA is approximately $13
million to $18 million higher than our reported Adjusted EBITDA
for third quarter 2013 of $61.8 million and our projected
operating income is approximately $16 million to $21 million
higher than our reported operating income from third quarter 2013.
With this amendment, we plan to focus on our operations and the
positive momentum we have built so far this quarter.  We
appreciate the support of our lenders and believe that the
successful completion of this amendment will affirm their
confidence in our ongoing initiatives and the future of YRCW,"
Pierson stated.

                         About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

The Company incurred a net loss of $83.6 million in 2013 following
a net loss of $136.5 million in 2012.  As of June 30, 2014, the
Company had $2.17 billion in total assets, $2.54 billion in total
liabilities and a $362.4 million total shareholders' deficit.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide Inc.
("YRCW") from Caa3 to B3, following the successful closing of its
refinancing transactions.

In the Jan. 31, 2014, edition of the TCR, Standard & Poor's
Ratings Services said that it raised its ratings on Overland Park,
Kansas-based less-than-truckload (LTL) trucker YRC Worldwide Inc.
(YRCW), including the corporate credit rating to 'CCC+' from
'CCC', and removed them from CreditWatch negative, where they were
placed on Jan. 10, 2014.  "The upgrades reflect YRCW's improved
liquidity position and minimal debt maturities as a result of its
proposed refinancing," said Standard & Poor's credit analyst Anita
Ogbara.


YSC INC: Taps Special Counsel Over Ramada Inn Signage Dispute
-------------------------------------------------------------
YSC, Inc. sought and obtained permission from the Hon. Marc
Barreca of the U.S. Bankruptcy Court for the Western District of
Washington at Seattle to employ John A. Kesler, III as special
counsel.

The Debtor requires the services of special counsel to represent
it in pending state court litigation related to the signage for
the Ramada Inn.  Given the importance of the continued operations
of the Ramada Inn and its value to the estate, the Debtor needs
representation to assist it in protecting its interests in the
pending action.

Mr. Kesler has agreed to act as special counsel for the Debtor and
its principals the Yims, based on hourly charges of $265 and an
advance retainer of $2,000.

The Court is satisfied that Mr. Kesler represents no interest
adverse to the estate with respect to matters upon which he is to
be engaged and that his employment is necessary and would be in
the best interest of the estate.

Mr. Kesler can be reached at:

       John A. Kesler, III, Esq.
       BEAN GENTRY WHEELER PETERNELL, PLLC
       910 Lakeridge Way SW
       Olympia, WA 98502
       Tel: (360) 357-2852
       Fax: (360) 786-6943
       E-mail: jkesler@bgwp.net

                            About YSC Inc.

YSC Inc., owner of a Comfort Inn in Federal Way, Washington, and a
Ramada Inn in Olympia, Washington, filed a petition for Chapter 11
protection (Bankr. W.D. Wash. Case No. 13-17946) on Aug. 30, 2013,
in Seattle.

The owner listed the hotels as worth $17.9 million.  Total debt is
$18.5 million, including $18 million in secured debt.  Among
mortgage holders, Whidbey Island Bank is owed $13.3 million.

Bankruptcy Judge Marc L. Barreca presides over the case.  Wells
and Jarvis, P.S., serves as YSC's counsel.

Scott Hutchison, Esq., represents Whidbey Island Bank.

YSC's principals Sang Kil Yim and Chan Sook Yim filed for personal
Chapter 11 bankruptcy (Case No. 14-10897).


* Lavish Spending Doesn't Equal Tax Evasion, 9th Circ. Says
-----------------------------------------------------------
Law360 reported that extravagant spending habits aren't enough to
prove willful tax evasion, the Ninth Circuit ruled, reversing a
district court decision that denied a discharge to a tax-
delinquent former video game executive.  According to the report,
the U.S. Internal Revenue Service went after William M. Hawkins
III for using KPMG tax shelters to hide capital gains from selling
his massive amounts of Electronic Arts stock in the late 1990s.
During the dispute, Hawkins' company, 3DO, tanked and filed for
Chapter 11, the report related.

The 3DO Company develops, publishes and distributes interactive
entertainment software for personal computers, the Internet and
advanced entertainment systems such as the PlayStation(R)2
computer entertainment system, the Nintendo GameCube(TM) and the
Game Boy(R) Advance systems. The 3DO Company filed for Chapter 11
protection on May 28, 2003, in the U.S. Bankruptcy Court for the
Northern District of California (San Francisco) (Lead Bankr. Case
No. 03-31580).


* Subjective Test Required in Dischargeability Suit
---------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Katherine Polk Failla
reversed a bankruptcy court ruling, saying that, in deciding
whether an individual bankrupt isn't discharged from debt for
causing a "willful and malicious injury" under Section 523(a)(6)
of the Bankruptcy Code, the bankruptcy court must apply a
subjective standard.  According to the report, Judge Failla said
there is a "longstanding split" among the federal circuit courts
of appeal over whether the standard is subjective or objective,
but noted that although the U.S. Court of Appeals for the Second
Circuit in Manhattan has yet to rule on the issue, courts in the
circuit use the subjective standard.

The case is Margulies v. Hough (In re Margulies), 13-cv-6009, U.S.
District Court, Southern District of New York (Manhattan).


* CalPERS to End Hedge Fund Investments
---------------------------------------
Alexandra Stevenson and Michael Corkery, writing for The New York
Times' DealBook, reported that the California Public Employees'
Retirement System, the nation's largest pension fund, will
eliminate all of its hedge fund investments over the next year on
concerns that investments are too complicated and expensive.
According to the report, the pension fund, which oversees $300
billion, said that it would liquidate its positions in 24 hedge
funds and six hedge fund-of-funds -- investments that total $4
billion and more than 1 percent of its total investments under
management.


* For Banks, Shift in U.S. Rules to Cut Balance-Sheet Risk
----------------------------------------------------------
Jesse Hamilton and Craig Torres, writing for Bloomberg News,
reported that U.S. regulators trying to force banks to maintain
enough capital to survive a severe economic shock have signaled a
shift in the tools they're using to achieve that goal.  According
to the report, for months, banks have expected the overriding
mandate from regulators to be a so-called leverage ratio -- a
minimum percentage of capital calculated against all assets.  Now,
under a change outlined by Federal Reserve Governor Daniel
Tarullo, the dominant yardstick for big banks may be the capital
buffer they would need based on the riskiness of their assets, the
report related.


* Stephen Rutenberg Joins Kaye Scholer's Bankruptcy Department
--------------------------------------------------------------
Stephen A. Rutenberg has joined Kaye Scholer LLP as a partner in
the firm's Bankruptcy & Restructuring Department in New York.
Previously a partner at Sidley Austin LLP, Mr. Rutenberg counsels
hedge funds, private equity firms, broker-dealers and other global
financial institution clients on legal issues related to the
purchase and sale of loans and securities of distressed and
bankrupt companies, including accounts receivable, trade claims
and bank debt, both domestically and in Europe.  Mr. Rutenberg
will be joined by Sidley senior associate Michael Greenblatt, who
has extensive experience building this practice.

"Our Bankruptcy & Restructuring Department is committed to
delivering the highest quality legal services, and Stephen's
arrival will only further strengthen the range of capabilities
that we offer to our clients," said Firm Managing Partner
Michael Solow, who is himself a noted bankruptcy lawyer.  "We are
pleased to add another top caliber lawyer to our team."

Mr. Rutenberg and his team will continue to focus on advising
clients on all aspects of investing in special situations
opportunities, including in-depth credit analysis and negotiation
of documentation.  Recent representations include advising on the
purchase, sale and financing of bankruptcy trade claims in several
major Chapter 11 Cases, including Lehman Brothers, AMR
Corporation, the Dewey insolvency, and the MF Global and Icelandic
bank liquidations.  He also served as senior legal counsel for the
EMEA Global Loans and Special Situations Group at Bank of America
Merrill Lynch in London.

"This is a great opportunity to combine our significant experience
in special situations credit trading with Kaye Scholer's leading
creditor rights practice," said Mr. Rutenberg.

"Stephen's extensive cross-border experience will be a great asset
to our clients both in the US and in Europe, where we have a
substantial presence in the UK and Germany advising on some of the
biggest restructurings in those markets.  Our goal is to be the
premier firm in all aspects of credit trading around the globe,"
said Bankruptcy & Restructuring Department Co-Chair Mark Liscio.

Admitted to practice in New York and as a solicitor in England and
Wales, Mr. Rutenberg has significant experience advising on
cross-border bankruptcy matters.  He has represented many of the
major broker-dealers, investment banks and hedge funds on all
aspects of secondary distressed and par loan transactions,
including the analysis and review of loan documentation, security
packages, transferability restrictions and the preparation of
secondary trading documentation.  He has also counseled clients in
the negotiation of total return swaps, credit default swaps and
other structures for the purchase and/or financing of loan and
claim portfolios as well as other synthetic methods of obtaining
exposure to the secondary loan and claims markets.

In addition to his main practice, Mr. Rutenberg maintains a
commitment to providing pro bono legal services, with a focus on
helping indigent asylum seekers and immigrants who are seeking
legal status in the United States.  An active participant in
industry and community organizations, he is a member of the
American Bar Association, the Loan Market Association, and the
Loan Syndications and Trading Association.  He also serves as a
member of National Young Leadership Cabinet of the Jewish
Federations of North America and of the Lawyers Executive
Committee of the UJA Federation of New York.

Mr. Rutenberg received his JD from University of Pennsylvania Law
School and holds a BA from Brooklyn College.

Senior associate Michael Greenblatt received his JD from Fordham
University and his BA from George Washington University.

With a sophisticated understanding of the restructuring landscape,
Kaye Scholer's Bankruptcy & Restructuring Department provides
comprehensive services in all aspects of restructurings and
insolvency proceedings from the pre-workout phase through
litigation, if necessary.  The firm's team of over 30 insolvency
and restructuring practitioners, located in New York, Chicago,
Los Angeles, London and Frankfurt, has been at the forefront of
some of the largest and most complex multinational restructurings
and insolvencies of the recent past.

                     About Kaye Scholer LLP

Founded in New York in 1917, Kaye Scholer combines the continuity
and business acumen of a century-old law firm with a forward-
looking, results-driven approach focused around lasting client
relationships.  With strengths in five core legal areas --
corporate, finance, intellectual property, litigation, and real
estate -- and focusing on two key sectors -- life sciences and
financial industries -- the firm offers strategic guidance and
legal services to public and private entities facing litigation,
transactional or governance challenges.  Its lawyers regularly
advise on matters across multiple legal jurisdictions, including
in the US, Canada, UK, EU and China.


* BOND PRICING: For The Week From September 15 to 19, 2014
----------------------------------------------------------

  Company               Ticker  Coupon Bid Price  Maturity Date
  -------               ------  ------ ---------  -------------
AGY Holding Corp        AGYH     11.00     98.75     11/15/2014
Allen Systems
  Group Inc             ALLSYS   10.50     52.25     11/15/2016
Allen Systems
  Group Inc             ALLSYS   10.50     53.00     11/15/2016
Buffalo Thunder
  Development
  Authority             BUFLO     9.38     43.25     12/15/2014
Caesars Entertainment
  Operating Co Inc      CZR      10.00     26.01     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR       6.50     36.77       6/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      10.75     35.00       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      12.75     27.58      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR       5.75     28.25      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR      10.00     28.00     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR       5.75     18.25      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR      10.75     41.00       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      10.75     40.00       2/1/2018
Caesars Entertainment
  Operating Co Inc      CZR      10.00     26.25     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      10.00     25.63     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      10.75     41.00       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      10.00     26.25     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      10.00     25.63     12/15/2018
Champion
  Enterprises Inc       CHB       2.75      0.25      11/1/2037
Endeavour
  International Corp    END       5.50      5.00      7/15/2016
Endeavour
  International Corp    END      12.00     27.00       6/1/2018
Energy Conversion
  Devices Inc           ENER      3.00      7.88      6/15/2013
Energy Future
  Competitive
  Holdings Co LLC       TXU       8.18      0.25      1/30/2037
Energy Future
  Holdings Corp         TXU       5.55     85.00     11/15/2014
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc      TXU      10.00      9.00      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc      TXU      10.00      9.25      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc      TXU       6.88      6.00      8/15/2017
Exide Technologies      XIDE      8.63     26.00       2/1/2018
Exide Technologies      XIDE      8.63     25.63       2/1/2018
Exide Technologies      XIDE      8.63     25.63       2/1/2018
Federal Home Loan
  Mortgage Corp         FHLMC     1.98     99.49      9/26/2019
Global Geophysical
  Services Inc          GGS      10.50     16.10       5/1/2017
Global Geophysical
  Services Inc          GGS      10.50     13.38       5/1/2017
Gymboree Corp/The       GYMB      9.13     32.50      12/1/2018
James River Coal Co     JRCC      7.88      1.14       4/1/2019
James River Coal Co     JRCC     10.00      1.25       6/1/2018
James River Coal Co     JRCC     10.00      4.96       6/1/2018
James River Coal Co     JRCC      3.13      0.25      3/15/2018
Las Vegas Monorail Co   LASVMC    5.50      9.98      7/15/2019
Lehman Brothers Inc     LEH       7.50     12.50       8/1/2026
MF Global Holdings Ltd  MF        6.25     44.78       8/8/2016
MF Global Holdings Ltd  MF        1.88     43.00       2/1/2016
MModal Inc              MODL     10.75     10.13      8/15/2020
MModal Inc              MODL     10.75     10.13      8/15/2020
Momentive Performance
  Materials Inc         MOMENT   11.50      4.50      12/1/2016
Motors Liquidation Co   MTLQQ     7.20     11.25      1/15/2011
Motors Liquidation Co   MTLQQ     7.38     11.25      5/23/2048
Motors Liquidation Co   MTLQQ     6.75     11.25       5/1/2028
NII Capital Corp        NIHD      7.63     16.94       4/1/2021
NII Capital Corp        NIHD     10.00     24.88      8/15/2016
NII Capital Corp        NIHD      8.88     24.01     12/15/2019
Nuance
  Communications Inc    NUAN      2.75     99.75      8/15/2027
Nuance
  Communications Inc    NUAN      2.75     99.41      8/15/2027
Platinum Energy
  Solutions Inc         PLATEN   14.25     74.75       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN   14.25     74.75       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN   14.25     74.75       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN   14.25     74.75       3/1/2015
Powerwave
  Technologies Inc      PWAV      1.88      0.13     11/15/2024
Powerwave
  Technologies Inc      PWAV      1.88      0.13     11/15/2024
Quicksilver
  Resources Inc         KWK       7.13     44.96       4/1/2016
RAAM Global Energy Co   RAMGEN   12.50     75.40      10/1/2015
TMST Inc                THMR      8.00     12.00      5/15/2013
Terrestar Networks Inc  TSTR      6.50     10.00      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      10.25     13.13      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      15.00     32.00       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      10.25     13.06      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      10.50     14.25      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      15.00     36.20       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      10.25     13.13      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU      10.50     12.75      11/1/2016
Travelport LLC /
  Travelport
  Holdings Inc          TPORT    11.88     97.75       9/1/2016
Tunica-Biloxi
  Gaming Authority      PAGON     9.00     60.00     11/15/2015
Walter Energy Inc       WLT       9.88     33.75     12/15/2020
Walter Energy Inc       WLT       9.88     33.75     12/15/2020



                             *********

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
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The TCR subscription rate is $975 for 6 months delivered via
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