TCR_Public/141017.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Friday, October 17, 2014, Vol. 18, No. 289

                            Headlines

150 FULTON PROPERTY: Case Summary & Largest Unsecured Creditor
800 BOURBON STREET: Case Summary & Largest Unsecured Creditors
ADVANCED MICRO DEVICES: Former CEO to Get $5-Mil. in Severance Pay
AGFEED USA: Oct. 27 Hearing on Bid for Exclusivity Extensions
AGFEED USA: Wants 90-Day Extension in Deadline to Remove Actions

AEHR TEST SYSTEMS: Incurs $907K Net Loss for Aug. 31 Quarter
ALLIED SYSTEMS: Genregske & Cullen Seeks to Extend Claim Bar Date
ASSOCIATED WHOLESALERS: Panel Taps Hahn & Hessen as Lead Counsel
ASSOCIATED WHOLESALERS: Panel Hires Pepper Hamilton as Co-counsel
ASSOCIATED WHOLESALERS: Panel Hires Capstone as Fin'l Advisors

ASSOCIATED WHOLESALERS: Musser's Balks at Assignment of Contract
ASTEA INT'L: Gets NASDAQ Listing Determination; Hearing Requested
ATHERTON FINANCIAL: Taps Levene Neale as General Counsel
ATHERTON FINANCIAL: Hires Intero as Real Estate Broker
ATLS ACQUISITION: Has Until Nov. 30 to Assume or Reject Leases

ATLS ACQUISITION: Wants Jan. 12 Deadline to Remove Cause of Action
BS QUARRIES: Court OKs Dismissal; Debtor to Pay UST Fees
BUDD COMPANY: Asbestos Committee Hires Charter Oak as Advisors
BUDD COMPANY: Asbestos Panel Taps Legal Analysis as Consultants
BUDD COMPANY: Hires Towers Watson as Actuary

BUDD COMPANY: Hires UHY Advisors as CRO's Tax Advisor
CARLA SMITH INVESTMENTS: Case Summary & 6 Top Unsec. Creditors
CASH STORE: Ontario Court Okays Binding Agreement to Sell Assets
CASINO REINVESTMENT: Moody's Cuts Rating on $194.6MM Bonds to Ba3
CHINA PRECISION: Has $37.5-Mil. Net Loss in FY Ended June 30

CHIQUITA BRANDS: Board Rejects Sweetened Cutrale-Safra Bid
CLINTON COUNTY HOSPITAL: Case Summary & 20 Top Unsec. Creditors
CLOUDEEVA INC: Taps Jeffer Mangels as Special Counsel, BAPL Reacts
CLOUDEEVA INC: Taps Karen Balmer as Financial Advisor
CRUMBS BAKE SHOP: Gets Approval to Fulfill Purchase Orders

CRUMBS BAKE SHOP: Lemonis Seeks to Block Use of Crumbs Trademark
CRUNCHIES FOOD: U.S. Trustee Appoints Creditors' Committee
DETROIT, MI: FGIC Settlement Clears Major Restructuring Hurdle
DETROIT, MI: Kramer Levin Issues Statement on FGIC Settlement
DOMUM LOCIS: Receiver & Custodian Taps Epps & Coulson as Counsel

DRUG TRANSPORT: Avoids a Trustee With Restructuring Officer
DUNE ENERGY: Amends Tender Offer Statement With SEC
EAGLE BULK: Completes Court-Approved Financial Restructuring
EAGLE BULK: Files Post-Confirmation Timetable
EFL PARTNERS: Two-Time Loser Files for Bankruptcy Without Lawyer

ELBIT IMAGING: Plans to Sell Mango Retail Stores Operation
EMANUEL L. COHEN: Bank Hapoalim Opposes Plan Exclusivity Extension
ENDEAVOUR INT'L: Proposes to Limit Trading to Protect NOLs
ENDEAVOUR INT'L: Proposes KCC as Claims and Noticing Agent
ENDEAVOUR INTERNATIONAL: Bankruptcy Filing Constitutes Default

ENERGY FUTURE: Warned Not to Trip Over Taxes in Oncor Sale
ENERGY FUTURE: Says Bonuses Consistent With Industry Standards
ENERGY FUTURE: Court Allows U.S. Trustee's Witness to Testify
ESSAR STEEL: Moody's Raises Corporate Family Rating to B2
ESSAR STEEL: S&P Assigns Prelim. 'B+' Rating on Proposed Sr. Debt

FERROUS MINER: Files for Chapter 11 in Delaware
FLINTKOTE COMPANY: Insurer Freed From Asbestos Arbitration
FREE LANCE-STAR: Fredericksburg Land Goes for $2.8 Million
GBG RANCH: Court Okays LHP Holdings as Real Estate Broker
GBG RANCH: Guillermo Benavides Seeks Case Dismissal

GLOBAL COMPUTER: U.S. Trustee Objects to McGuireWoods Employment
GLOBAL COMPUTER: U.S. Gov't. Objects to McGuireWoods Employment
GROVE ESTATES: Susquehanna Bank Balks at Cash Collateral Use
GT ADVANCED: Berger & Montague Files Securities Class Action
HALIFAX REGIONAL: Moody's Affirms Ba3 Rating on Series 1998 Bonds

HBC HOLDINGS: Moody's Revises $100-Mil. Term Loan Rating to Caa1
HEALTH NET: Fitch Affirms 'BB+' IDR & Revises Outlook to Positive
HEENAN BLAIKIE: Former Employees Sue Defunct Law Firm
HOA RESTAURANT: S&P Withdraws 'B-' Corporate Credit Rating
HOLY HILL: Trustee Seeks to Extend Plan Filing Deadline to Jan. 9

HOUSTON REGIONAL: Files Ballot Tabulation on Amended Ch. 11 Plan
HOYT TRANSPORTATION: Wants Exclusivity in Plan Filing Thru Nov. 10
IBCS MINING: Has Until Jan. 26 to Assume or Reject Leases
IBCS MINING: Has Until Jan. 26 to Propose Chapter 11 Plan
INTERNATIONAL MANUFACTURING: Panel Hires Joseph & Cohen as Counsel

INT'L MANUFACTURING: Ch.11 Trustee Taps Judge Newsome as Mediator
INVERSIONES ALSACIA: Chile Bus Operator Files U.S. Bankruptcy
INVERSIONES ALSACIA: Case Summary & 30 Top Unsecured Creditors
ITR CONCESSION: Court Fixes Nov. 17 as General Claims Bar Date
KID COMPANY: Case Summary & 10 Largest Unsecured Creditors

KO-KAUA OHANA: Gets Approval to Sell Condo Unit to Yizhao
LATEX FOAM: Court Extends Plan Filing Deadline to December 29
LDK SOLAR: American Depository Shares Delisted From NYSE
LEHMAN BROTHERS: Says RMBS Dispute Could Imperil Recoveries
LEHMAN BROTHERS: Holders of Giants Stadium Claims Seek Payment

LIBERTY TOWERS: Voluntary Chapter 11 Case Summary
MACKEYSER HOLDINGS: Nov. 14 Set at Claims Filing Deadline
MAR REALTY: Court OKs R. O'Neil as Broker for Bo. Arenas Property
MARTIFER AURORA: Wants Plan Filing Deadline Extended to Feb. 2
MASON COPPELL: Alan H. Levi Approved as Trustee's Accountant

MINERAL PARK: Creditors' Panel Taps Gavin/Solmonese as Advisor
MOMENTIVE PERFORMANCE: Wants Appeals Court to Dismiss Plan Appeal
MOMENTIVE PERFORMANCE: Oct. 31 Hearing on Exclusivity Extensions
NAARTJIE CUSTOM: Taps SierraConstellation to Provide CRO
NAARTJIE CUSTOM: Hires Stroock & Stroock as Special Counsel

NAARTJIE CUSTOM: Has Until April 2015 on Lease-Related Decisions
NATROL INC: Files Amended Schedules of Assets and Liabilities
NATROL INC: Proposes Nov. 10 Auction for All Assets
NATROL INC: Oct. 23 Hearing on Employee Bonus Plan
NATROL INC: Wants Plan Filing Exclusivity Until Feb. 6

NATURAL MOLECULAR: Mark Calvert Named as Chapter 11 Trustee
NAUTILUS HOLDINGS: Seeks to Extend Plan Filing to Dec. 10
NETBANK INC: Supreme Court Case Pits Bank Owners Against FDIC
NII HOLDINGS: Wants to Hire Rothschild Inc. as Financial Advisor
PHOENIX RIVER ROAD: Case Summary & Unsecured Creditor

PLANDAI BIOTECHNOLOGY: Has $15.5-Mil. Loss in FY Ended June 30
PROSPECT PARK NETWORKS: Wants Removal Deadline Moved to Dec. 5
PROSPECT PARK NETWORKS: Proposes Dec. 15 Claims Bar Date
QUICKSILVER RESOURCES: Evercore to Close Stock Fund
QUANTUM CORP: To Report Approx. $135-Mil. Total Revenue in Q2

RB ENERGY: Under Court Protection; Hale to Provide DIP Financing
RESIDENTIAL CAPITAL: Most Suits v. Originators Go to Minnesota
RITE AID: Inks Stock Trading Plan With Executive Officers
RIVER-BLUFF: Files First Amended Plan and Disclosure Statement
RIVER-BLUFF: U.S. Bank Says Plan Has Insufficient Information

RIVER-BLUFF: UST Says Disclosure Statement "Lacking" in Info
SEARS HOLDINGS: Turns to Blogosphere to Defend Financial Health
SEARS HOLDINGS: Drops After Insurers Said to Cut Supplier Coverage
SEARS HOLDINGS: Ronald Boire Is Sears Canada Acting President
SECOND STREET: Asks for Plan Filing Exclusivity Until Dec. 6

SIMPLEXITY LLC: Can File Chapter 11 Plan Until November 11
SIMPLEXITY LLC: Fifth Third Bashed for Chapter 7 Conversion Bid
SPECIALTY PRODUCTS: Court Approves ARPC as Evaluation Consultants
TEXAS RANGERS: KPMG Tries to Duck Fraud Suit Over Ex-Owner Audit
TRUMP ENTERTAINMENT: Union Says Lapsed Contract Can't Change

TMT GROUP: Vantage Opposes Another Appeal on Bankruptcy Loan
UNITED AIRLINES: Sparred with DHL Over Fact-Finding in Cargo Case
VAIL LAKE RANCHO: Could Not File Chapter 11 Plan Until Nov. 14
VICTOR RIVERA: Appellate Panel Warns v. Ignoring Dismissal Bid
WARNER MUSIC: Eric Levin Named Chief Financial Officer

WESTLAKE VILLAGE: Hires ERLP as Special Litigation Counsel
WSP HOLDINGS: NYSE Delists Shares; Commences Trading on OTC Pink
YELLOWSTONE MOUNTAIN: 9th Circ. Upholds Contempt for Founder

* For-Profit Colleges Unlikely to See Ch. 11 Fix Soon

* Dorsey Partner Annette Jarvis Named TMA Board Trustee

* BOOK REVIEW: Competitive Strategy for Health Care
               Organizations: Techniques for Strategic Action


                             *********


150 FULTON PROPERTY: Case Summary & Largest Unsecured Creditor
--------------------------------------------------------------
Debtor: 150 Fulton Property Inc.
        c/o Sheldon Gopstein, Esq.,
        275 Madison Avenue
        New York, NY 10016

Case No.: 14-74670

Chapter 11 Petition Date: October 15, 2014

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

Judge: Hon. Alan S Trust

Debtor's Counsel: Mark A. Frankel, Esq.
                  BACKENROTH FRANKEL & KRINSKY LLP
                  800 Third Avenue, 11th Floor
                  New York, NY 10022
                  Tel: (212) 593-1100
                  Fax: (212) 644-0544
                  Email: mfrankel@bfklaw.com

Total Assets: $2.09 million

Total Liabilities: $3.60 million

The petition was signed by Peter H. Siegel, vice president.

The Debtor listed Front Seat LLC as its largest unsecured creditor
holding an undetermined amount of claim.

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

            http://bankrupt.com/misc/nyeb14-74670.pdf


800 BOURBON STREET: Case Summary & Largest Unsecured Creditors
--------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                  Case No.
      ------                                  --------
      800 Bourbon Street, LLC                 14-12770
      800 Bourbon Street
      New Orleans, LA 70116

      Louisiana Interests, Inc.               14-12772
         dba Oz
      800 Bourbon Street
      New Orleans, LA 70116

Chapter 11 Petition Date: October 15, 2014

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Hon. Elizabeth W. Magner (14-12770)
       Hon. Jerry A. Brown (14-12772)

Debtors' Counsel: Christopher T. Caplinger, Esq.
                  601 Poydras Street, Suite 2775
                  New Orleans, LA 70130
                  Tel: (504) 568-1990
                  Fax: (504) 529-7418
                  Email: ccaplinger@lawla.com

                    - and -

                  Stewart F. Peck, Esq.
                  LUGENBUHI, WHEATON, PECK, RANKIN & HUBBARD
                  601 Poydras Street, Suite 2775
                  New Orleans, LA 70130
                  Tel: (504) 568-1990
                  Fax: (504) 529-7418
                  Email: speck@lawla.com


                               Estimated    Estimated
                                 Assets    Liabilities
                              ----------   -----------
800 Bourbon Street, LLC       $1MM-$10MM   $1MM-$10MM
Louisiana Interests, Inc.     $1MM-$10MM   $1MM-$10MM

The petitions were signed by Bobby Warner, member.

A list of 800 Bourbon Street's 15 largest unsecured creditors is
available for free at http://bankrupt.com/misc/laeb14-12770.pdf

A list of Louisiana Interests' 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/laeb14-12772.pdf


ADVANCED MICRO DEVICES: Former CEO to Get $5-Mil. in Severance Pay
------------------------------------------------------------------
Advanced Micro Devices, Inc., previously filed a current report on
Form 8-K disclosing (i) that Rory P. Read had stepped down from
his positions as the Company's president and chief executive
officer and as a director on the Company's Board of Directors, and
(ii) that the Board had appointed Dr. Lisa T. Su as the Company's
president and chief executive officer and as a director on the
Board.  At that time, the Company disclosed that Mr. Read's
Transition, Separation Agreement and Release and Dr. Su's
Employment Agreement were still being negotiated.

On. Oct. 14, 2014, the Company entered into a Transition,
Separation Agreement and Release with Mr. Read and the Company
entered into an at-will Employment Agreement with Dr. Su,
effective as of Oct. 8, 2014.

Pursuant to the Separation Agreement, the parties agreed that Mr.
Read would continue his employment with the Company as a non-
executive employee from Oct. 8, 2014, through Dec. 31, 2014, when
his employment with the Company will end.  During the period from
the Transition Date to the Termination Date, Mr. Read will
continue to receive the salary and benefits he received
immediately prior to the Transition Date.

The Separation Agreement provides for payments and benefits to Mr.
Read, including, among other things, a one-time lump-sum cash
payment to Mr. Read in the amount of $5 million within 10 business
days following the Effective Date (as defined in the Release).

Pursuant to the terms of the Employment Agreement, Dr. Su is
entitled to, among other things, the following compensation and
benefits:

   * An annual base salary of $850,000, which will be reviewed at
     least annually and may be adjusted by the Board;

   * Beginning Jan. 1, 2015, an annual cash performance bonus at a
     target amount of not less than 150% of Base Salary, payable
     under the terms of the Company's Executive Incentive Plan.
     Dr. Su's 2014 target cash performance bonus under the
     Company's Executive Incentive Plan will be calculated at 100%
     of her base salary through Oct. 7, 2014, and 150% of her Base
     Salary from Oct. 8, 2014, through Dec. 27, 2014; and

   * The Company will grant Dr. Su an annual equity award for the
     2014 fiscal year with an aggregate grant date fair value
     equal to approximately $5 million.

Additional information is available for free at:

                       http://is.gd/REMh0x

                   About Advanced Micro Devices

Sunnyvale, California-based Advanced Micro Devices, Inc., is a
global semiconductor company.  The Company's products include x86
microprocessors and graphics.

Advanced Micro incurred a net loss of $83 million on $5.29 billion
of net revenue for the year ended Dec. 28, 2013, as compared with
a net loss of $1.18 billion on $5.42 billion of net revenue for
the year ended Dec. 29, 2012.  As of June 28, 2014, the Company
had $4.24 billion in total assets, $3.74 billion in total
liabilities and $501 million in total stockholders' equity.

                          *     *     *

In August 2013, Standard & Poor's Ratings Services revised its
outlook on Advanced Micro to negative from stable.  At the same
time, S&P affirmed its 'B' corporate credit and senior unsecured
debt ratings on AMD.

As reported by the TCR on June 5, 2014, Fitch Ratings had upgraded
the long-term Issuer Default Rating (IDR) for Advanced Micro
Devices Inc. (NYSE: AMD) to 'B-' from 'CCC'.  The upgrade
primarily reflects AMD's improved financial flexibility from
recent refinancing activity, which extends meaningful debt
maturities until 2019.

In the Feb. 4, 2013, edition of the TCR, Moody's Investors Service
lowered Advanced Micro Devices' corporate family rating to B2 from
B1.  The downgrade of the corporate family rating to B2 reflects
AMD's prospects for weaker operating performance and liquidity
profile over the next year as the company commences on a multi-
quarter strategic reorientation of its business in the face of a
challenging macro environment and a weak PC market.


AGFEED USA: Oct. 27 Hearing on Bid for Exclusivity Extensions
-------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Oct. 27, 2014, at
10:30 a.m., to consider AgFeed USA, LLC, et al.'s sixth motion to
extend their exclusive periods to propose a Chapter 11 plan.

The Debtors are requesting for an extension until Nov. 17, 2014,
of their exclusive period to file a Chapter 11 plan, and until
Jan. 16, 2015, of the period to solicit acceptances of that plan.

According to the Debtors, on Sept. 15, 2014, the Court approved
the Disclosure Statement and certain related materials for
solicitation of votes to accept or reject the Plan.  A hearing to
consider confirmation of the Second Amended Plan is scheduled for
Oct. 27, 2014.

As reported in the TCR on Sept. 29, 2014, the Second Amended Plan
resolves a number of complex issues the various constituencies had
with the prior iterations of the Plan.  The Debtors noted that
they expect that these resolutions will allow for the confirmation
process to move forward efficiently and on a largely consensual
basis.

The Debtors added they are in a position to set a confirmation
timetable, and will seek to do so under a solicitation procedures
motion.  However, in order to file and solicit acceptances of the
Second Amended Plan, the exclusive periods must be further
extended.

                      About AgFeed Industries

AgFeed Industries, Inc., has 21 farms and five feed mills in China
producing more than 250,000 hogs annually. In the U.S., the
business included 10 sow farms in three states and two feed mills
producing more than one million hogs a year. AgFeed's revenue in
2012 was $244 million.

AgFeed and its affiliates filed voluntary petitions under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 13-11761) on
July 15, 2013, with a deal to sell most of its subsidiaries to The
Maschhoffs, LLC, for cash proceeds of $79 million, absent higher
and better offers.  The Debtors estimated assets of at least $100
million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.

The U.S. Trustee has appointed a five-member official committee of
unsecured creditors to the Chapter 11 cases.  The Creditors'
Committee tapped Lowenstein Sandler as lead bankruptcy counsel and
Greenberg Traurig, LLP, as co-counsel.  CohnReznick LLP serves as
the Creditors' Committee's financial advisor.

An official committee of equity security holders was also
appointed to the Chapter 11 cases.  The Equity Committee tapped
Sugar Felsenthal Grais & Hammer LLP and Elliott Greenleaf as
co-counsel.

Jefferies Leveraged Credit Products and Claims Recovery Group are
represented by Lawrence J. Kotler, Esq., and Catherine B.
Heitzenrater, Esq., at Duane Morris, LLP.


AGFEED USA: Wants 90-Day Extension in Deadline to Remove Actions
----------------------------------------------------------------
AgFeed USA, LLC, et al., ask the Bankruptcy Court to further
extend their time to file notices of removal of claims and causes
of action pending in various state and federal courts.  The
Debtors, in their fifth motion for an extension, said that they
need a 90-day extension to file the notices.  The Court will
consider the matter at an Oct. 27 hearing.

                      About AgFeed Industries

AgFeed Industries, Inc., has 21 farms and five feed mills in China
producing more than 250,000 hogs annually. In the U.S., the
business included 10 sow farms in three states and two feed mills
producing more than one million hogs a year. AgFeed's revenue in
2012 was $244 million.

AgFeed and its affiliates filed voluntary petitions under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 13-11761) on
July 15, 2013, with a deal to sell most of its subsidiaries to The
Maschhoffs, LLC, for cash proceeds of $79 million, absent higher
and better offers.  The Debtors estimated assets of at least $100
million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.

The U.S. Trustee has appointed a five-member official committee of
unsecured creditors to the Chapter 11 cases.  The Creditors'
Committee tapped Lowenstein Sandler as lead bankruptcy counsel and
Greenberg Traurig, LLP, as co-counsel.  CohnReznick LLP serves as
the Creditors' Committee's financial advisor.

An official committee of equity security holders was also
appointed to the Chapter 11 cases.  The Equity Committee tapped
Sugar Felsenthal Grais & Hammer LLP and Elliott Greenleaf as
co-counsel.

Jefferies Leveraged Credit Products and Claims Recovery Group are
represented by Lawrence J. Kotler, Esq., and Catherine B.
Heitzenrater, Esq., at Duane Morris, LLP.


AEHR TEST SYSTEMS: Incurs $907K Net Loss for Aug. 31 Quarter
------------------------------------------------------------
Aehr Test Systems filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net
loss of $907,000 on $3.56 million of net sales for the three
months ended Aug. 31, 2014, compared with a net loss of $166,000
on $3.75 million of net sales for the same period last year.

The Company's balance sheet at Aug. 31, 2014, showed $11.4 million
in total assets, $4.79 million in total liabilities, and
stockholders' equity of $6.62 million.

A copy of the Form 10-Q is available at:

                       http://is.gd/PR5PuI

Aehr Test Systems designs, engineers, develops, manufactures, and
sells test and burn-in equipment used in the semiconductor
industry worldwide.  Its systems are used to simultaneously
perform parallel testing and burn-in of packaged integrated
circuits (ICs), singulated bare die, or ICs still in wafer form.
The company offers Advanced Burn-In and Test System that tests and
burn-in high-power logic and low-power ICs; FOX full wafer contact
parallel test and burn-in systems designed to make contact with
all pads of a wafer simultaneously, thus enabling full wafer
parallel test and burn-in; and MAX burn-in system designed for
monitored burn-in of memory and logic devices.  It products also
comprise WaferPak full wafer contactor, a cartridge system that
includes a full-wafer probe card for use in testing wafers in FOX
systems; DiePak carrier, a reusable, temporary package that
enables IC manufacturers to perform cost-effective final test and
burn-in of singulated bare die; and test fixtures that hold the
devices undergoing test or burn-in and electrically connect the
devices under test to the system electronics.  In addition, the
company offers customer service and support programs, including
system installation, system repair, applications engineering
support, spare parts inventories, customer training, and
documentation.  It markets and sells its products to semiconductor
manufacturers, semiconductor contract assemblers, electronics
manufacturers, and burn-in and test service companies through a
network of distributors and sales representatives.  The company
was founded in 1977 and is headquartered in Fremont, California.


ALLIED SYSTEMS: Genregske & Cullen Seeks to Extend Claim Bar Date
-----------------------------------------------------------------
Mark J. Genregske and Brian Cullen, members of Allied Systems
Holdings, Inc. Board, filed a seventh motion with the U.S.
Bankruptcy Court for the District of Delaware to extend the
deadline to file proofs of claim against ASHINC Corporation, et
al., through Dec. 8, 2014.

Hearing on the Seventh Claims Bar Date Motion is set on Nov. 3,
2014 at 11:00 a.m. (ET) before Judge Christopher S. Sontchi in
Delaware.

BDCM Opportunity Fund II, LP, Spectrum Investment Partners LP, and
Black Diamond CLO 2005-1 Adviser L.L.C., filed involuntary
petitions for Allied Systems Holdings Inc. and Allied Systems Ltd.
(Bankr. D. Del. Case Nos. 12-11564 and 12-11565) on May 17, 2012.
The signatories of the involuntary petitions assert claims of at
least $52.8 million for loan defaults by the two companies.

Allied Systems, through its subsidiaries, provides logistics,
distribution, and transportation services for the automotive
industry in North America.

Allied Holdings Inc. first filed for chapter 11 protection (Bankr.
N.D. Ga. Case Nos. 05-12515 through 05-12537) on July 31, 2005.
Jeffrey W. Kelley, Esq., at Troutman Sanders, LLP, represented the
Debtors in the 2005 case.  Allied won confirmation of a
reorganization plan and emerged from bankruptcy in May 2007
with $265 million in first-lien debt and $50 million in second-
lien debt.

The petitioning creditors said Allied defaulted on payments of
$57.4 million on the first lien debt and $9.6 million on the
second.  They hold $47.9 million, or about 20% of the first-lien
debt, and about $5 million, or 17%, of the second-lien obligation.
They are represented by Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP; and Adam C. Harris,
Esq., and Robert J. Ward, Esq., at Schulte Roth & Zabel LLP.

Allied Systems Holdings Inc. formally put itself and 18
subsidiaries into bankruptcy reorganization June 10, 2012,
following the filing of the involuntary Chapter 11 petition.

The Company is being advised by Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., and Jeffrey W. Kelley, Esq., at
Troutman Sanders, Gowling Lafleur Henderson.

The bankruptcy court process does not include captive insurance
company Haul Insurance Limited or any of the Company's Mexican or
Bermudan subsidiaries.  The Company also announced that it intends
to seek foreign recognition of its Chapter 11 cases in Canada.

An official committee of unsecured creditors has been appointed in
the case.  The Committee consists of Pension Benefit Guaranty
Corporation, Central States Pension Fund, Teamsters National
Automobile Transporters Industry Negotiating Committee, and
General Motors LLC.  The Committee is represented by Sidley Austin
LLP.

In January 2014, the U.S. Trustee for Region 3 appointed a three-
member Official Committee of Retirees.

Yucaipa Cos. has 55% of the senior debt and took the position it
had the right to control actions the indenture trustee would take
on behalf of debt holders.  The state court ruled in March 2013
that the loan documents didn't allow Yucaipa to vote.

In March 2013, the bankruptcy court also gave the official
creditors' committee authority to sue Yucaipa.  The suit includes
claims that the debt held by Yucaipa should be treated as equity
or subordinated so everyone else is paid before the Los Angeles-
based owner. The judge allowed Black Diamond to participate in the
lawsuit against Yucaipa and Allied directors.


ASSOCIATED WHOLESALERS: Panel Taps Hahn & Hessen as Lead Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Associated
Wholesalers, Inc., AWI Delaware, Inc., and its debtor affiliates
seeks authority from the U.S. Bankruptcy Court for the District of
Delaware to retain Hahn & Hessen LLP as lead counsel to the
Committee, nunc pro tunc to Sept. 17, 2014.

The Committee requires Hahn & Hessen to:

   (a) render legal advice to the Committee with respect to its
       duties and powers in this case;

   (b) assist the Committee in its investigation of the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtors, the operation of the Debtors' businesses, the
       desirability of continuance of such businesses, and any
       other matters relevant to these cases or to the business
       affairs of the Debtors;

   (c) advise the Committee with respect to any proposed sale of
       the Debtors' assets or a sale of the Debtors' business
       operations and any other relevant matters;

   (d) advise the Committee with respect to any proposed plan of
       reorganization or liquidation and the prosecution of claims
       against third parties, if any, and any other matters
       relevant to the cases or to the formulation of a plan of
       reorganization or liquidation;

   (e) assist the Committee in requesting the appointment of a
       trustee or examiner pursuant to section 1104 of the
       Bankruptcy Code, if necessary and appropriate; and

   (f) perform such other legal services, which may be required
       by, and which are in the best interests of, the unsecured
       creditors, which the Committee represents.

Hahn & Hessen will be paid at these hourly rates:

       Mark T. Power, Partner           $825
       Mark S. Indelicato, Partner      $825
       Don D. Grubman, Partner          $755
       Janine M. Figueiredo, Partner    $655
       Joseph Orbach, Associate         $480
       Christopher J. Hunker, Associate $390
       Sarah M. Gryll, Associate        $350
       Sandra Y. Thompson, Paralegal    $255

Hahn & Hessen will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Mark T. Power, partner of Hahn & Hessen, 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 Oct. 29, 2014, at 3:00 p.m.  Objections, if any,
are due Oct. 22, 2014, at 4:00 p.m.

Hahn & Hessen can be reached at:

       Mark T. Power, Esq.
       HAHN & HESSEN LLP
       488 Madison Avenue
       New York, NY 10022
       Tel: (212) 478-7350
       Fax: (212) 478-7400
       E-mail: mpower@hahnhessen.com

                  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 serves
as the claims agent.


ASSOCIATED WHOLESALERS: Panel Hires Pepper Hamilton as Co-counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Associated
Wholesalers, Inc., AWI Delaware, Inc., and its debtor affiliates,
seeks authority from the U.S. Bankruptcy Court for the District of
Delaware to retain Pepper Hamilton LLP as co-counsel, nunc pro
tunc to Sept. 17, 2014.

Pepper Hamilton will provide, among other things, the following
services in coordination with Hahn & Hessen:

   (a) assist Hahn & Hessen as requested in representing the
       Committee;

   (b) advise the Committee with respect to its rights, duties and
       powers in these cases;

   (c) assist and advise the Committee in its consultations with
       the Debtors relating to the administration of these cases;

   (d) assist the Committee in analyzing the claims of the
       Debtors' creditors and the Debtors' capital structure and
       in negotiating with the holders of claims and, if
       appropriate, equity interests;

   (e) assist the Committee's investigation of the acts, conduct,
       assets, liabilities and financial condition of the Debtors
       and other parties involved with the Debtors, and of the
       operation of the Debtors' business;

   (f) assist the Committee in its analysis of, and negotiations
       with the Debtors or any other third party concerning
       matters related to, among other things, the assumption or
       rejection of certain leases of non-residential real
       property and executory contracts, asset dispositions,
       financing transactions and the terms of a plan of
       reorganization or liquidation for the Debtors;

   (g) assist and advise the Committee as to its communications,
       if any, to the general creditor body regarding significant
       matters in these cases;

   (h) represent the Committee at all hearings and other
       proceedings;

   (i) review, analyze, and advise the Committee with respect to
       applications, orders, statements of operations and
       schedules filed with the Court;

   (j) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives;

   (k) assist the Committee as conflicts counsel, should the need
       arise;

   (l) perform such other services as may be required and are
       deemed to be in the interests of the Committee in
       accordance with the Committee's powers and duties as set
       forth in the Bankruptcy Code.

Pepper Hamilton will be paid at these hourly rates:

       Robert S. Hertzberg, Partner           $880
       David B. Stratton, Partner             $775
       Evelyn J. Meltzer, Partner             $460
       John H. Schanne II, Associate          $395
       Christopher A. Lewis, Paralegal        $250

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

David B. Stratton, co-chairman of Pepper Hamilton's Corporate
Restructuring and Bankruptcy Practice Group, 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 Oct. 29, 2014, at 3:00 p.m.  Objections, if any,
are due Oct. 22, 2014, at 4:00 p.m.

Pepper Hamilton can be reached at:

       David B. Stratton, Esq.
       Pepper Hamilton LLP
       Hercules Plaza, Suite 5100
       1313 Market Street, P.O. Box 1709
       Wilmington, DE 19899-1709
       Tel: (302) 777-6566
       Fax: (302) 656-8865
       E-mail: strattond@pepperlaw.com

                  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 serves
as the claims agent.


ASSOCIATED WHOLESALERS: Panel Hires Capstone as Fin'l Advisors
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Associated
Wholesalers, Inc., AWI Delaware, Inc., and its debtor affiliates,
seeks authority from the U.S. Bankruptcy Court for the District of
Delaware to retain Capstone Advisory Group, LLC, together with its
wholly-owned subsidiary Capstone Valuation Services, LLC, as
financial advisors to the Committee, nunc pro tunc to Sept. 17,
2014.

The Committee requested that Capstone render the financial
advisory services:

   (a) advise and assist the Committee in its analysis and
       monitoring of the Debtors' historical, current and
       projected financial affairs, including, schedules of assets
       and liabilities and statement of financial affairs;

   (b) advise and assist the Committee with respect to any debtor-
       in-possession financing arrangements and use of cash;

   (c) scrutinize cash disbursements on an on-going basis for the
       period subsequent to the commencement of these cases;

   (d) develop a periodic monitoring report to enable the
       Committee to evaluate effectively the Debtors' performance
       and wind-down activities on an ongoing basis;

   (e) advise and assist the Committee and counsel in reviewing
       and evaluating any court motions, applications, or other
       forms of relief filed or to be filed by the Debtors, or
       any other parties-in-interest;

   (f) monitor wind down of both Debtor and non-Debtor entities;

   (g) prepare certain valuation analyses of the Debtors'
       businesses and assets using various professionally accepted
       methodologies;

   (h) as needed, prepare alternative business projections
       relating to the valuation of the Debtors' business
       enterprise;

   (i) develop strategies to maximize recoveries from the Debtors'
       assets and advise and assist the Committee with such
       strategies;

   (j) analyze and monitor any prior, pending and future sale
       processes and transactions and assess the reasonableness of
       the process and the consideration received;

   (k) evaluate intangible asset portfolio and develop strategies
       to maximize returns;

   (l) monitor Debtors' claims management process, analyze claims,
       analyze guarantees, and summarize claims by entity;

   (m) advise and assist the Committee in identifying and
       reviewing any preference payments, fraudulent conveyances,
       and other potential causes of action that the Debtors'
       estates may hold against insiders and third parties;

   (n) analyze the Debtors' assets and analyze possible recovery
       to creditor constituencies under various scenarios;

   (o) review and provide analysis of any bankruptcy plan and
       disclosure statement relating to the Debtors;

   (p) advise and assist the Committee in its assessment of the
       Debtors' employee needs and related costs;

   (q) analyze intercompany and related party transactions;

   (r) advise and assist the Committee in the evaluation of the
       Debtors' operations and investments;

   (s) attend Committee meetings, court hearings, and auctions as
       may be required;

   (t) render other general business consulting or assistance as
       the Committee or its counsel may deem necessary, consistent
       with the role of a financial advisor; and

   (u) other potential services, including: render expert
       testimony, issue expert reports and or litigation and
       forensic work that has not yet been identified but as may
       be requested from time to time by the Committee and its
       counsel.

Capstone will be paid at these hourly rates:

       Jay Borow                $875
       David Galfus             $850
       Norman Haslun            $635
       Joseph Vizzini           $580
       Amy Drobish              $410
       Joseph Woodmansee        $410
       Executive Director       $600-$875
       Managing Director        $475-$635
       Director                 $410-$450
       Consultant               $225-$350
       Support Staff            $125-$305

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

David Galfus, executive director of Capstone, 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.

Capstone can be reached at:

       David Galfus
       CAPSTONE ADVISORY GROUP, LLC
       Park 80 West, 250 Pehle Ave., Ste. 105
       Saddle Brook, NJ 07663
       Tel: (201) 587-7117
       Cel: (201) 888-6733
       E-mail: dgalfus@capstoneag.com

                  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 serves
as the claims agent.


ASSOCIATED WHOLESALERS: Musser's Balks at Assignment of Contract
----------------------------------------------------------------
Musser's Inc. asks the U.S. Bankruptcy Court for the District of
Delaware to deny AWI Delaware, Inc. et al.'s motion to sell
substantially all of the Debtors' assets, to the extent that the
Motion requests authority to assume and assign the Musser
Agreement.

Musser is a family-owned company that operates a small chain of
supermarkets in the vicinity of Lancaster, Pennsylvania, and is a
member and shareholder of debtor Associated Wholesalers, Inc.

For approximately the past 40 years, AWI has been Musser's primary
supplier.  Until approximately two years ago, the parties
conducted business without a written contract to govern their
relationship.  On August 13, 2012, Musser and AWI entered into a
Purchase Supply Agreement, under which AWI agreed to serve as
Musser's primary supplier, and Musser agreed to use AWI in that
role.

Beginning in approximately July of 2014, AWI's performance
declined precipitously, and AWI began routinely breaching its
obligations to supply Musser's needs, John T. Carroll, III, Esq.
at Cozen O'Connor, in Wilmington, Delaware -- jcarroll@cozen.com
-- tells the Court.  He alleges that Musser experiences
significant shortages of inventory, including complete absences of
numerous critical popular items.  He asserts that as well as lost
revenue, Musser suffered even more significant harm in the form of
damage to its reputation resulting from empty shelves, its
inability to provide the same variety of goods sold by its
competitors, and its inability to provide customers with
advertised goods.

Mr. Carroll contends that the Motion should be denied, to the
extent that it requests authority to assume and assign the Musser
Agreement because the Agreement is not capable of being assumed
since AWI has committed incurable nonmonetary defaults.  He
insists that AWI repudiated the Musser Agreement prior to the
commencement of its bankruptcy case.

As reported by the Troubled Company Reporter, Judge Kevin J. Carey
of the U.S. Bankruptcy Court for the District of Delaware approved
the procedures governing the bidding and sale of the assets of
Associated Wholesalers Inc. and its debtor affiliates.  Qualified
bids for the assets must be submitted on or before Oct. 22 so an
auction scheduled for Oct. 24 can proceed.  The auction will be
followed by a sale hearing on Oct. 29.

Bill Rochelle, a bankruptcy columnist for Bloomberg News, reported
earlier this month that Associated Wholesalers Inc. and its White
Rose grocery distribution business attracted two more prospective
industry buyers.  Aside from C&S Wholesale Grocers Inc., which
serves as the stalking horse bidder, Supervalu Inc. also offered
to replace C&S as stalking horse.  Another yet unnamed company has
also offered a bid, according to Bloomberg.

Musser's Inc. is represented by:

          John T. Carroll, III, Esq.
          Simon E. Fraser, Esq.
          COZEN O'CONNOR
          1201 N. Market Street, Suite 1001
          Wilmington, DE 19801
          Telephone: (302) 295-2000
          Facsimile: (302) 295-2013
          E-mail: jcarroll@cozen.com
                  sfraser@cozen.com

                  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 serves
as the claims agent.


ASTEA INT'L: Gets NASDAQ Listing Determination; Hearing Requested
-----------------------------------------------------------------
Astea International Inc. on Oct. 15 disclosed that, as expected,
the Staff of the Listing Qualifications Department of The NASDAQ
Stock Market LLC notified the Company that, based upon the
Company's non-compliance with the $2.5 million stockholders'
equity requirement for continued listing on The NASDAQ Capital
Market, the Company's securities were subject to delisting unless
the Company timely requested a hearing before the NASDAQ Listing
Qualifications Panel.  On October 15, the Company timely requested
a hearing before the NASDAQ Panel, which request has stayed the
Staff's determination, and the Company's securities will continue
to trade on NASDAQ at least pending the hearing and the expiration
of any extension period granted by the Panel.  The Company is
taking all available steps to evidence compliance with the NASDAQ
listing criteria; however, there can be no assurance that the
Company will be able or that the Panel will grant the Company the
necessary time to do so.

                  About Astea International

Astea International (NASDAQ: ATEA) is a global provider of
software solutions that offer all the cornerstones of service
lifecycle management, including customer management, service
management, asset management, forward and reverse logistics
management and mobile workforce management and optimization.
Astea's solutions link processes, people, parts, and data to
empower companies and provide the agility they need to achieve
sustainable value in less time, and successfully compete in a
global economy.  Since 1979, Astea has been helping more than 600
companies drive even higher levels of customer satisfaction with
faster response times and proactive communication, creating a
seamless, consistent and highly personalized experience at every
customer relationship touch point.


ATHERTON FINANCIAL: Taps Levene Neale as General Counsel
--------------------------------------------------------
Atherton Financial Building, LLC asks permission from the U.S.
Bankruptcy Court for the Central District of California to employ
Levene, Neale, Bender, Yoo & Brill LLP as general bankruptcy
counsel, effective Sept. 9, 2014.

The Debtor requires Levene Neale to:

   (a) advise the Debtor with regard to the requirements of the
       Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the
       Office of the United States Trustee as they pertain to the
       Debtor;

   (b) advise the Debtor with regard to certain rights and
       remedies of its bankruptcy estate and the rights, claims
       and interests of creditors;

   (c) represent the Debtor in any proceeding or hearing in the
       Bankruptcy Court involving its estate unless the Debtor is
       represented in such proceeding or hearing by other special
       counsel;

   (d) conduct examinations of witnesses, claimants or adverse
       parties and representing the Debtor in any adversary
       proceeding except to the extent that any such adversary
       proceeding is in an area outside of Levene Neale's
       expertise or which is beyond Levene Neale's staffing
       capabilities;

   (e) prepare and assist the Debtor in the preparation of
       reports, applications, pleadings and orders including, but
       not limited to, applications to employ professionals,
       interim statements and operating reports, initial filing
       requirements, schedules and statement of financial affairs,
       lease pleadings, cash collateral pleadings, financing
       pleadings, and pleadings with respect to the Debtor's use,
       sale or lease of property outside the ordinary course of
       business;

   (f) represent the Debtor with regard to obtaining use of
       debtor-in-possession financing and cash collateral
       including, but not limited to, negotiating and seeking
       Bankruptcy Court approval of any debtor in possession
       financing and cash collateral pleading or stipulation and
       preparing any pleadings relating to obtaining use of
       debtor-in-possession financing and cash collateral;

   (g) assist the Debtor in the negotiation, formulation,
       preparation and confirmation of a plan of reorganization
       and the preparation and approval of a disclosure statement
       in respect of the plan; and

   (h) perform any other services which may be appropriate in
       Levene Neale's representation of the Debtor during its
       bankruptcy case.

Levene Neale will be paid at these hourly rates:

       David B. Golubchik           $595
       Jeffrey Kwong                $295

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

The Debtor and Levene Neale agreed that Levene Neale would receive
a $75,000 retainer in connection with representing the Debtor.  In
the one-year prior to filing for bankruptcy, the Debtor paid
Levene Neale the sum of $5,000 (the "Prepetition Retainer").  The
balance of $70,000 (the "Postpetition Retainer") was paid on
September 30, 2014 by Lucy Gao, a principal of the Debtor and
guarator on the first loan.

David B. Golubchik, partner of Levene Neale, 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.

Levene Neale can be reached at:

       David B. Golubchik, Esq.
       LEVENE, NEALE, BENDER, YOO & BRILL LLP
       10250 Constellation Blvd., Suite 1700
       Los Angeles, CA 90067
       Tel: (310) 229-1234
       Fax: (310) 229-1244
       E-mail: dbg@lnbyb.com

Atherton Financial Building LLC filed a Chapter 11 petition
(Bankr. C.D. Cal. Case No. 14-27223) in Los Angeles, on Sept. 9,
2014.  Benjamin Kirk signed the petition as managing member of
manager of Sunshine Valley LLC.  The Company estimated $10 million
to $50 million in assets and debt.  The case is assigned to Judge
Thomas B. Donovan.  The Debtor has tapped David B Golubchik, Esq.,
at Levene Neale Bender Rankin & Brill LLP, in Los Angeles, as
counsel.


ATHERTON FINANCIAL: Hires Intero as Real Estate Broker
------------------------------------------------------
Atherton Financial Building, LLC asks for permission from the U.S.
Bankruptcy Court for the Central District of California to employ
Intero Real Estate Services as real estate broker, effective Sept.
25, 2014.

The Debtor's primary asset is real property located at 1906 El
Camino Real, Menlo Park, CA 94027.  The Property consists of a
two-storey class D stud and wood panel office building of
approximately 11,855 square feet.

The Debtor requires Intero to:

   (a) advertise and market the Property to interested parties;

   (b) show the Property to interested parties;

   (c) represent the estate as sellers in connection with the sale
       of the Property;

   (d) advise the Debtor with respect to obtaining the highest and
       best offers available in the present market for the
       Property; and

   (e) do other things necessary in the context of the employment
       as real estate broker.

The Debtor will pay Intero from the sales proceeds pursuant to
11 U.S.C. section 328, without the need for further application
for compensation, the most salient terms of their Agreement are:

   -- in the event of a sale of the Property, Intero shall be paid
      a commission equal to 6% of the gross sale price;

   -- in the of a sale of the Property, the sale price shall be
      $15,200,000 or such other price and terms as the Debtor may
      agree to;

   -- the listing terms goes from Sept. 25, 2014 to September 24,
      2015;

   -- disputes between the Debtor and Intero will be resolved by
      the Bankruptcy Court or bay the use of alternative dispute
      resolution methods;

   -- if Intero finds a prospective purchaser for the Property,
      Intero shall also represent and act as the agent of such
      purchaser.  The Debtor authorizes and consents to such dual
      agency, subject to Bankrupcy Court approval;

   -- the Debtor agrees to defend, indemnify and hold Intero
      harmless from any liabilities, costs, damages and expenses
      from any environmental claim, discrimination claim, material
      omission, incorrect representation, or incorrect information
      supplied by the Debtor to Intero, subject to Bankruptcy
      Court approval.

Yuan-Sing Chang, realtor of Intero, 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.

Intero can be reached at:

       Yuan-Sing Chang
       INTERO REAL ESTATE SERVICES
       12900 Saratoga Avenue
       Saratoga, CA 95070
       Tel: (866) 334-7356
       E-mail: ychang@interorealestate.com

Atherton Financial Building LLC filed a Chapter 11 petition
(Bankr. C.D. Cal. Case No. 14-27223) in Los Angeles, on Sept. 9,
2014.  Benjamin Kirk signed the petition as managing member of
manager of Sunshine Valley LLC.  The Company estimated $10 million
to $50 million in assets and debt.  The case is assigned to Judge
Thomas B. Donovan.  The Debtor has tapped David B Golubchik, Esq.,
at Levene Neale Bender Rankin & Brill LLP, in Los Angeles, as
counsel.


ATLS ACQUISITION: Has Until Nov. 30 to Assume or Reject Leases
--------------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware extended until Nov. 30, 2014, the deadline of
ATLS Acquisition LLC, et al., to assume or reject unexpired non-
residential leases.

According to the Debtors, the extension of time will provide them
with the time and flexibility they need to negotiate with
constituents on a plan or sale structure and coordinate the
orderly assumption or rejection of the unexpired leases in
conjunction with the formulation of their plan or sale in a way
that will maximize value for the Debtors and their estates.

The Debtors note that the lessors under the unexpired leases will
not be prejudiced by the extension.  The Debtors add that they are
current in all of their post-petition rent payments and other
contractual obligations with respect to the unexpired leases.  The
Debtors say they intend to continue to timely pay all rent
obligations on the unexpired leases until they are either rejected
or assumed.

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, serves as the
Debtor's counsel; Ernst & Young LLP to provide investment banking
advice; and Epiq Bankruptcy Solutions, LLC, as claims and noticing
agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.

                          *     *     *

ATLS Acquisition, LLC, et al., filed with the U.S. Bankruptcy
Court for the District of Delaware a joint plan of reorganization
and an accompanying disclosure statement, which propose to fund a
liquidating trust with proceeds from the sale of the Debtors'
assets.  A full-text copy of the Disclosure Statement dated
Aug. 15, 2014, is available at http://is.gd/aLMnQP


ATLS ACQUISITION: Wants Jan. 12 Deadline to Remove Cause of Action
------------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Nov. 13, 2014, at
2:00 p.m., to consider ATLS Acquisition, LLC, et al.'s motion to
extend the time to file notices of removal of proceedings.
Objections, if any, are due Oct. 22, at 4:00 p.m.

Pursuant to the first extension order, the deadline for the
Debtors to file notices of removal was extended July 15, 2013.
The Court has entered several extension orders after that.

The Debtors are now seeking entry of an order further extending
until Jan. 12, 2015, the time to file notices of removal under
Bankruptcy Rule 9027(a).

The Debtors note that as of the Petition Date, the Debtors had
civil causes of action and proceedings pending in the courts of
various states, including those listed on the Debtors' statements
of financial affairs.

Since the Petition Date, the attention of the Debtors' personnel
and management, has been focused on transitioning into Chapter 11,
the Debtors' litigation with Alere, Inc., addressing issues
related to the relators' litigation, stabilizing and then
improving their business operations, negotiating a settlement with
the Centers for Medicare & Medicaid Services, resolving numerous
issues with Medco, negotiating a stalking horse purchase agreement
for the sale of substantially all of the Debtors' assets, and
administering these chapter 11 cases.

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, serves as the
Debtor's counsel; Ernst & Young LLP to provide investment banking
advice; and Epiq Bankruptcy Solutions, LLC, as claims and noticing
agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.

                          *     *     *

ATLS Acquisition, LLC, et al., filed with the U.S. Bankruptcy
Court for the District of Delaware a joint plan of reorganization
and an accompanying disclosure statement, which propose to fund a
liquidating trust with proceeds from the sale of the Debtors'
assets.  A full-text copy of the Disclosure Statement dated
Aug. 15, 2014, is available at http://is.gd/aLMnQP


BS QUARRIES: Court OKs Dismissal; Debtor to Pay UST Fees
--------------------------------------------------------
Bankruptcy Judge John J. Thomas signed off a stipulation and
consent order dismissing the Chapter 11 case of B.S. Quarries,
Inc.

The stipulation, entered among the Debtor, WM and the U.S.
Trustee, also provided that the Debtor will make payment of all
accrued but unpaid fees due to the U.S. Trustee.

As reported in the Troubled Company Reporter on July 9, 2014,
WM Capital Partners XXXIX, LLC, filed a motion asking the Court to
issue an order vacating the automatic stay or, in the alternative,
dismissing the Chapter 11 case of the Debtor.

WM, the Debtor's principal secured lender, told the Court that the
Debtor's Chapter 11 filing is "a desperate attempt to hold onto
assets in which it has no equity and to perpetuate a case in which
it cannot formulate a feasible plan of reorganization within any
timeframe, much less a reasonable one."

WM pointed out that the timing of the commencement of the Debtor's
Chapter 11 case clearly evidences an attempt to use the automatic
stay as a litigation tactic to stall WM's realization of the value
of its collateral by means of a sheriff's sale.  In addition, the
Debtor entered Chapter 11 on June 25, 2014, while the sheriff's
sale was actually in progress.

The parties agreed that the bankruptcy case is dismissed without
prejudice, and all orders entered in the Debtor's Chapter 11 case
prior to the date on which this Court approves the stipulation and
consent order will survive and remain effective after such date.

                    About B.S. Quarries, Inc.

B.S. Quarries, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. M.D. Pa. Case No. 14-02954) on June 25, 2014.  Timothy
Smith signed the petition as president.  The Debtor disclosed
$3,474,650 in assets and $25,872,271 in liabilities as of the
Chapter 11 filing.  Flaster/Greenberg, P.C., serves as the
Debtor's counsel.  The case is assigned to Judge John J. Thomas.


BUDD COMPANY: Asbestos Committee Hires Charter Oak as Advisors
--------------------------------------------------------------
The Committee of Asbestos Personal Injury Claimants of The Budd
Company, Inc. seeks permission from the Hon. Jack B. Schmetterer
of the U.S. Bankruptcy Court for the Northern District of Illinois
to retain James P. Sinclair and the employees and staff of Charter
Oak Financial Consultants, LLC as financial advisors to the
Asbestos Committee, effective Aug. 15, 2014.

The Asbestos Committee desires to retain Charter Oak as financial
advisor to provide, without limitation, these services:

   (a) oversight to enable the Asbestos Committee to fulfill its
       responsibilities to monitor the Debtor's financial affairs
       and the financial affairs of the Debtor's affiliates and
       subsidiaries;

   (b) interpretation and analysis of financial materials,
       including accounting, tax, statistical, financial and
       economic data, regarding the Debtor, the Debtor's
       affiliates and subsidiaries, and other relevant entities;

   (c) analysis and advice regarding accounting, financial,
       valuation and related issues that may arise in the course
       of the proceedings;

   (d) assistance to the Asbestos Committee's counsel in the
       evaluation and preparation of avoidance actions and any
       other potential litigation, as requested;

   (e) analysis and advice regarding settlement negotiations and
       any potential chapter 11 plan;

   (f) expert testimony on financial matters, if requested; and

   (g) such other services as the Asbestos Committee may request.

Charter Oak will be paid at these hourly rates:

       Senior Managing Director            $715
       Managing Director                   $657.50
       Director                            $530
       Assistant Director                  $460
       Senior Associate                    $427.50
       Associate                           $395
       Senior Analyst                      $328.50
       Analyst                             $262.50

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

James P. Sinclair, founding member of Charter Oak, 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.

Charter Oak can be reached at:

       James P. Sinclair
       CHARTER OAK FINANCIAL
       CONSULTANTS, LLC
       430 Center Ave., Mamaroneck
       New York, NY 10543
       Tel: (914) 372-1874
       Fax: (914) 930-6867

                     About The Budd Company

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

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

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

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

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

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

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


BUDD COMPANY: Asbestos Panel Taps Legal Analysis as Consultants
---------------------------------------------------------------
The Committee of Asbestos Personal Injury Claimants of The Budd
Company, Inc. seeks permission from the Hon. Jack B. Schmetterer
of the U.S. Bankruptcy Court for the Northern District of Illinois
to retain Mark A. Peterson and the employees and staff of Legal
Analysis Systems, Inc. as consultants with respect to the analysis
of the Debtor's asbestos liabilities, effective Aug. 1, 2014.

The Asbestos Committee requires Legal Analysis to:

   (a) review and analyze the Debtor's asbestos claims and
       reviewing and analyzing the Debtor's prior resolution of
       asbestos claims;

   (b) examine the Debtor's liabilities for asbestos claims that
       are pending at the present time;

   (c) forecast the Debtor's future asbestos-related liabilities
       based on current claims data;

   (d) provide the Committee with such quantitative analyses of
       other matters related to asbestos claims as may be
       requested by the Asbestos Committee;

   (e) testify on such matters as required by the Asbestos
       Committee; and

   (f) perform all other asbestos liability analysis and valuation
       services as required by the Asbestos Committee.

Legal Analysis will be paid at these hourly rates:

       Mark A. Peterson, Behavioral
       Scientist/Lawyer                  $800
       Dan Relles, Statistician          $540
       Pat Ebner, Data Collector         $335

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

Mark A. Peterson, president of Legal Analysis, 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.

Legal Analysis can be reached at:

       Dr. Mark A. Peterson
       LEGAL ANALYSIS SYSTEMS, INC.
       970 Calle Arroyo
       Thousand Oaks, CA 91360
       Tel: (805) 499-3572
       E-mail: mark.peterson56@verizon.net

                     About The Budd Company

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

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

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

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

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

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

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


BUDD COMPANY: Hires Towers Watson as Actuary
--------------------------------------------
The Budd Company, Inc. asks for authorization from the Hon. Jack
B. Schmetterer of the U.S. Bankruptcy Court for the Northern
District of Illinois to employ Towers Watson Delaware, Inc. as
actuary, nunc pro tunc to the March 31, 2014 petition date.

The Debtor requires Towers Watson to:

   (a) provide non-ordinary course actuarial and consulting
       services related to the Debtor's pension and retiree health
       care plans;

   (b) assist Proskauer and the Debtor in responding to inquiries
       of the Debtor's creditors;

   (c) review documents and testimony in connection with the
       Debtor's pension and retiree health care obligations,
       including in connection with modifications of benefits
       under section 1114 of the Bankruptcy Code and chapter 11
       plans;

   (d) assist in formulating and responding to proposals under
       section 1114 of the Bankruptcy Code;

   (e) assist Proskauer in developing, prosecuting, and objecting
       to chapter 11 plans; and

   (f) render opinions and provide testimony in connection with
       the foregoing.

Towers Watson will be paid at these hourly rates:

       Joseph Grondin             $605
       Matthew Sloan              $695
       Liz Giffels                $615
       Steve Mastellotto          $570
       Lauren Pellerito           $515
       Thomas Ches                $515
       Analyst                    $150-$400
       Consultant/Actuary         $375-$525
       Senior Consultant/Actuary  $500-$700

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

Joseph A. Grondin, senior consulting actuary at Towers Watson,
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.

Towers Watson can be reached at:

       Joseph A. Grondin
       TOWERS WATSON DELAWARE, INC.
       One NOrthwestern Plaza
       28411 Northwestern Highway, Suite 500
       Southfield, MI 48034
       Tel: (248) 936-7329
       Fax: (248) 936-7701

                     About The Budd Company

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

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

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

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

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

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

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


BUDD COMPANY: Hires UHY Advisors as CRO's Tax Advisor
-----------------------------------------------------
The Budd Company, Inc. asks authorization from the Hon. Jack B.
Schmetterer of the U.S. Bankruptcy Court for the Northern District
of Illinois to employ UHY Advisors as tax advisors, nunc pro tunc
to Aug. 1, 2014.

The hiring of UHY Advisors is in connection with the investigation
by the Debtor's independent Chief Restructuring Officer of
potential claims by or against the Debtor's affiliates under the
tax sharing agreement to which the Debtor and certain affiliates
are party.

The CRO requires the tax expertise of UHY Advisors to analyze the
Tax Sharing Agreement in connection with:

   (a) his evaluation of whether the Tax Sharing Agreement impacts
       his analysis of claims and cause of action between the
       Debtor and Affiliates, and thus his recommendation to the
       Debtor's independent director on the value of the proposed
       Settlement; and

   (b) discussions with Affiliates and the Debtor's creditors.

UHY Advisors will be paid at these hourly rates:

       Kurt Siebenaller        $325
       William Kingsley        $395
       Managing Directors      $325-$450
       Principals              $300-$325
       Senior Managers         $250-$300
       Managers                $200-$250
       Seniors                 $185-$225
       Staff                   $150-$185
       Administrative          $75-$95

The Debtor anticipates that UHY Advisors' total fees and expenses
in connection with this engagement will not exceed $20,000.

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

Kurt Siebenaller of UHY Advisors 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.

UHY Advisors can be reached at:

       Kurt Siebenaller
       UHY ADVISORS
       12900 Hall Road, Suite 150
       Sterling Heights, MI 48313-1153
       Tel: (586) 254-8141
       Fax: (586) 254-1805

                     About The Budd Company

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

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

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

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

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

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

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


CARLA SMITH INVESTMENTS: Case Summary & 6 Top Unsec. Creditors
--------------------------------------------------------------
Debtor: Carla Smith Investments, LLC
        10031 E. Dynamite Blvd. Ste. 100
        Scottsdale, AZ 85262

Case No.: 14-15595

Chapter 11 Petition Date: October 15, 2014

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Hon. Brenda Moody Whinery

Debtor's Counsel: Allan D. Newdelman, Esq.
                  ALLAN D NEWDELMAN PC
                  80 E. Columbus Ave.
                  Phoenix, AZ 85012
                  Tel: 602-264-4550
                  Fax: 602-277-0144
                  Email: anewdelman@adnlaw.net

Total Assets: $500,000

Total Liabilities: $2.03 million

The petition was signed by Carla J. Smith, president.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/azb14-15595.pdf


CASH STORE: Ontario Court Okays Binding Agreement to Sell Assets
----------------------------------------------------------------
The Cash Store Financial Services Inc. on Oct. 15 disclosed that
the Ontario Superior Court of Justice (Commercial List) has
approved the binding agreement for Cash Store Financial to sell a
portion of its business and assets to National Money Mart Company,
as announced on October 9, 2014.

The Agreement and the completion of the Transaction remain subject
to certain regulatory approvals and satisfaction of certain
customary closing conditions.  The current expectation remains
that the Transaction will be completed by late 2014 or early 2015,
following regulatory approval.  Cash Store Financial will continue
to provide updates as the necessary approvals are obtained and the
Transaction is finalized.  In the interim, the Company will
continue to operate its business as usual.

Further details regarding the Transaction, along with other
details regarding the Company's Companies' Creditors Arrangement
Act proceedings, are available on the Monitor's website at
http://cfcanada.fticonsulting.com/cashstorefinancial
Cash Store Financial will continue to provide updates on its
restructuring and the Transaction as matters advance.

                    About Cash Store Financial

Cash Store Financial and Instaloans primarily act as lenders to
facilitate short-term advances and provide other financial
services to income-earning consumers who may not be able to obtain
them from traditional banks.  Cash Store Financial also provides
private-label debit cards.

Cash Store Financial is not affiliated with Cottonwood Financial
Ltd. or the outlets Cottonwood Financial Ltd. operates in the
United States under the name "Cash Store".  Cash Store Financial
does not do business under the name "Cash Store" in the United
States and does not own or provide any consumer lending services
in the United States.

Cash Store Financial reported a net loss and comprehensive loss of
C$35.53 million for the year ended Sept. 30, 2013, as compared
with a net loss and comprehensive loss of C$43.52 million for the
year ended Sept. 30, 2012.  As of Sept. 30, 2013, the Company had
C$164.58 million in total assets, C$165.90 million in total
liabilities and a C$1.32 million shareholders' deficit.


CASINO REINVESTMENT: Moody's Cuts Rating on $194.6MM Bonds to Ba3
-----------------------------------------------------------------
Moody's Investors Service has downgraded to Ba3 from Baa3 the
rating on Casino Reinvestment Development Authority's (NJ) (or
CRDA) $194.6 million Parking Fee and Atlantic City Fund Revenue
Bonds, Series 2005A and 2005B. The outlook remains negative. The
bonds are secured by three streams of economically related
revenues: two separate pledges of parking fees levied on vehicles
at Atlantic City (GO Ba1/negative) casinos, and a portion of a
gross revenue tax levied on the casinos (Investment Alternative
Tax, or IAT) through 2018.

Summary Rating Rationale

The Ba3 rating reflects Moody's expectation that debt service
coverage will fall below 1.0 times annual debt service within two
years, given recent casino closures and the persistent negative
pledged revenue trend. The rating also reflects the narrowness of
pledged revenues and their dependence upon the Atlantic City's
troubled gaming industry.

The negative outlook considers the expectation of draws on the
cash-funded debt service reserve fund, and the potential for
additional Atlantic City casino closures.

Strengths

-- Relatively strong security provision of first-in revenues to
    pay debt service

-- Cash-funded debt service reserve funded at near maximum
    annual debt service amount

-- Complimentary parking is subject to the dedicated parking
    fees

Challenges

-- Declining revenues resulting in below sum-sufficient debt
    service coverage within two years

-- Narrow security pledge of fees collected from casinos in
    limited geographic region

-- Deteriorating economic base for pledged revenues, evidenced
    by rapidly declining gross casino revenues

-- Four casino closures within the last several months that will
    abruptly further reduce the economic base

-- Upcoming 2019 sunset of IAT revenues

Outlook

The negative outlook reflects the risk of additional declines in
the revenues securing these bonds as Atlantic City casinos
continue to face regional competition. Future rating reviews will
consider the potential for draws on the debt service reserve fund
and additional casino closures.

What Can Move the Rating UP:

-- Stabilization or increase in parking fee revenues that
    improves debt service coverage

-- Stabilization or increase in gross casino revenues and IAT
    revenues that improves debt service coverage

What Can Move the Rating DOWN:

-- Further declines in parking fee and IAT revenues beyond
    current projections of 20% for the four casino

-- Closures and 5% annually going forward

-- Draws on the Debt Service Reserve Fund

-- Additional casino closures

The principal methodology used in this rating was US Public
Finance Special Tax Methodology published in January 2014.



CHINA PRECISION: Has $37.5-Mil. Net Loss in FY Ended June 30
------------------------------------------------------------
China Precision Steel, Inc., filed with the U.S. Securities and
Exchange Commission on Oct. 14, 2014, its annual report on Form
10-K for the fiscal year ended June 30, 2014.

MSPC Certified Public Accountants and Advisors expressed
substantial doubt about the Company's ability to continue as a
going concern, citing that the Company suffered very significant
losses for the years ended June 30, 2014 and 2013 and defaulted on
interest and principal repayments of bank borrowings.

The Company reported a net loss of $37.5 million on $47.2 million
of sales revenues for the fiscal year ended June 30, 2014,
compared with a net loss of $68.9 million on $36.5 million of
sales revenues in 2013.

The Company's balance sheet at June 30, 2014, showed $77.8 million
in total assets, $63.2 million in total liabilities, and
stockholders' equity of $14.6 million.

A copy of the Form 10-K is available at:

                       http://is.gd/Ta4MSx

                   About China Precision Steel

China Precision Steel -- http://chinaprecisionsteelinc.com-- is a
niche precision steel processing company principally engaged in
the production and sale of high precision cold-rolled steel
products and provides value added services such as heat treatment
and cutting medium and high carbon hot-rolled steel strips. China
Precision Steel's high precision, ultra-thin, high strength (7.5
mm to 0.05 mm) cold-rolled steel products are mainly used in the
production of automotive components, food packaging materials, saw
blades, steel roofing and textile needles.  The Company sells to
manufacturers in the People's Republic of China as well as
overseas markets such as Nigeria, Ethiopia, Thailand and
Indonesia.  China Precision Steel was incorporated in 2002 and is
headquartered in Sheung Wan, Hong Kong.

China Precision reported a net loss of $68.93 million on $36.52
million of sales revenues for the year ended June 30, 2013, as
compared with a net loss of $16.94 million on $142.97 million of
sales revenues during the prior fiscal year.

The Company's balance sheet at March 31, 2014, showed $88.13
million in total assets, $78.16 million in total liabilities, all
current and $9.97 million in total stockholders' equity.

Moore Stephens, Certified Public Accountants, in Hong Kong, issued
a "going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company has suffered a very significant
loss in the year ended June 30, 2013, and defaulted on interest
and principal repayments of bank borrowings that raise substantial
doubt about its ability to continue as a going concern.


CHIQUITA BRANDS: Board Rejects Sweetened Cutrale-Safra Bid
----------------------------------------------------------
Tess Stynes, writing for Daily Bankruptcy Review, reported that
Chiquita Brands International Inc. said its board rejected a
sweetened takeover offer from Cutrale-Safra, saying the new bid
isn't adequate and isn't in the best interest of shareholders.
According to the report, Cutrale-Safra, a coalition of a Brazilian
orange juice maker and an investment firm, raised their takeover
offer for Chiquita by about 8% in an effort to thwart the banana
company's proposed tie-up with Irish food company Fyffes PLC.

As previously reported by The Troubled Company Reporter, citing
The New York Times' DealBook, Chiquita agreed to enter into a
confidentiality agreement with the Cutrale-Safra coalition after
resisting the Brazilian companies' $611 million bid.  The
Brazilian companies' offer came after Chiquita and Fyffes agreed
to combine their company to achieve an additional $20 million in
annual cost savings by 2016.

                           *     *     *

The March 17, 2014 edition of The Troubled Company Reporter
reported that Standard & Poor's Ratings Services revised its
rating outlook on Chiquita Brands International Inc. to positive
from stable.  At the same time, S&P affirmed the 'B' corporate
credit rating, 'B' senior secured debt rating, and 'CCC+'
unsecured debt rating on the company.

The TCR, on Jan. 30, 2014, reported that Moody's Investors Service
changed the rating outlook for Chiquita Brands International Inc.
to stable from negative while affirming all ratings of the
company, including its B2 Corporate Family Rating (CFR) and B2-PD
Probability of Default Rating (PDR).  Moody's also affirmed the
company's SGL-3 liquidity rating. The change in the outlook to
stable reflects Moody's expectation for continued improvement in
Chiquita's credit metrics, which have recently benefitted from
margin improvement largely as a result of cost saving initiatives.

The Aug. 14, 2014, edition of the TCR reported that Moody's
Investors Service views the proposed non-binding all cash bid from
Cutrale Group and Safra Group to acquire Chiquita Brands
International, Inc. favorably but it does not impact Chiquita's B2
CFR or developing outlook.

The TCR, on Oct. 13, 2014, reported that S&P revised its rating
outlook on Chiquita to developing from positive.  At the same
time, S&P affirmed its 'B' corporate credit rating on the company.
In addition, S&P affirmed the 'B' rating on the company's senior
secured notes due 2021.  The recovery rating remains '3',
indicating S&P's expectation for meaningful (50% to 70%) recovery
in the event of a payment default.  S&P also affirmed its 'CCC+'
rating on the company's unsecured convertible senior notes due
2016.  The recovery rating remains '6', indicating S&P's
expectation for negligible (0% to 10%) recovery in the event of a
payment default.


CLINTON COUNTY HOSPITAL: Case Summary & 20 Top Unsec. Creditors
---------------------------------------------------------------
Debtor: Clinton County Hospital, Inc.
           fdba Clinton County War Memorial Hospital
        723 Burkesville Rd
        Albany, KY 42602

Case No.: 14-11079

Nature of Business: Health Care

Chapter 11 Petition Date: October 15, 2014

Court: United States Bankruptcy Court
       Western District of Kentucky (Bowling Green)

Judge: Hon. Joan A. Lloyd

Debtor's Counsel: David M. Cantor, Esq.
                  SEILLER WATERMAN LLC
                  462 S. 4th Street, Ste 2200
                  Louisville, KY 40202
                  Tel: 584-7400
                  Email: cantor@derbycitylaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by J.D. Mullins, administrator.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/kywb14-11079.pdf


CLOUDEEVA INC: Taps Jeffer Mangels as Special Counsel, BAPL Reacts
------------------------------------------------------------------
Cloudeeva, Inc., et al., filed a motion with the U.S. Bankruptcy
Court for the District of New Jersey for permission to retain
Jeffer Mangels Butler & Mitchell, LLP, as their special counsel.

The Debtors are seeking to retain Jeffer Mangels for
representation in the litigation entitled Bartronics America Pte.
Ltd. v. Adesh Tyagi, et al., to replace the Debtors' former
counsel, Lowenstein Sandler LP.

The Bartronics Litigation was originally commenced in the Superior
Court for the State of California and before an arbitrator.  The
action was removed by the Debtors to the U.S. Bankruptcy Court for
the Northern District of California and since then, cross motions
to transfer venue to the District of New Jersey and to remand the
case are pending.

These Jeffer Mangels professionals have these rates:

      Professional                          Rate
      ------------                          -----
      Bennett G. Young (Partner)            $675
      Joseph N. Demko (Partner)             $675
      Erin Daly (Associate)                 $340

Other members or associates of the Firm may also render services
to the Debtors, if appropriate, at hourly rates ranging from $285
for paralegals to $925 for certain partners.

Jeffer Mangels assures the Court that it is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

The Firm can be reached at:

         JEFFER MANGELS BUTLER & MITCHELL, LLP
         Bennett G. Young, Esq.
         Joseph N. Demko, Esq.
         Erin Daly, Esq.
         Two Embarcadero Center, Suite 500
         San Francisco, California
         Tel: (415) 398-8080
         Email: BYoung@jmbm.com
                JDemko@jmbm.com
                EDaly@jmbm.com

                         Bartronics Reacts

Bartronics Asia Pte. Ltd. tells the Bankruptcy Court that it
objects to the Jeffer Mangels employment application.

Bartronics Asia asserts that the employment application should be
denied unless Jeffer Mangels returns a certain postpetition
retainer to the Debtors.  The PostPetition Retainer, Bartronics
argues, was an unauthorized -- and therefore improper --  transfer
of property of the Debtors' estate admittedly made "post-
petition."

Bartronics Asia adds that the Debtors did not seek or obtain the
Bankruptcy Court's prior approval to pay the PostPetition
Retainer.

                        About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.  The cases are assigned to Judge Kathryn
C. Ferguson.

Cloudeeva estimated assets of at least $10 million and debt of
less than $10 million.  The company said only $209,000 is owing to
its lender Prestige Capital Corp. and more than $5.2 million is
owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they are now seeking the retention of Trenk, DiPasquale,
Della Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court.  The
Debtors have also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel.  Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                         *     *     *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE
Ltd.  BAPL asserted that the cases were not filed in good faith.

The Debtors subsequently filed an appeal challenging the dismissal
of their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings.  Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

According to the docket, the Debtors' exclusive right to file a
plan expires on Nov. 18, 2014.


CLOUDEEVA INC: Taps Karen Balmer as Financial Advisor
-----------------------------------------------------
Cloudeeva, Inc. and its debtor affiliates seek to employ Karen
Balmer, CPA, as their financial advisor.

The Debtors expect Karen Balmer to:

   a. testify and provide other assistance in support of the
      Debtors' opposition to the pending motion of Bartronics Asia
      Pte Ltd, for an order appointing a Chapter 11 trustee or, in
      alternative, dismissing the Debtor's chapter 11 cases; and

   b. assist them in connection with handling any and all
      bankruptcy case matters, including preparation of monthly
      operating reports, financial projections and other
      bankruptcy-specific items.

The Debtors propose to pay Karen Balmer for its services at these
rates:

           Professional                   Rates
           ------------                   -----
           Partners                       $550
           Managers                       $475
           Supervisors                    $375
           Senior Accountants             $275
           Staff Accountants              $200
           Paraprofessional               $150

Karen Balmer assures the Court that it is is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

The Troubled Company Reporter has related that Bartronics Asia
Pte. Ltd. has objected to the Karen Balmer employment application,
saying that the application has not demonstrated the necessity of
hiring the Firm.  Even if the Court determined that the retention
is appropriate, BAPL argues, the application must only be approved
if Balmer returns a $50,000 postpetition retainer it received from
the Debtors.

                        About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.  The cases are assigned to Judge Kathryn
C. Ferguson.

Cloudeeva estimated assets of at least $10 million and debt of
less than $10 million.  The company said only $209,000 is owing to
its lender Prestige Capital Corp. and more than $5.2 million is
owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they are now seeking the retention of Trenk, DiPasquale,
Della Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court.  The
Debtors have also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel.  Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                         *     *     *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE
Ltd.  BAPL asserted that the cases were not filed in good faith.

The Debtors subsequently filed an appeal challenging the dismissal
of their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings.  Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

According to the docket, the Debtors' exclusive right to file a
plan expires on Nov. 18, 2014.


CRUMBS BAKE SHOP: Gets Approval to Fulfill Purchase Orders
----------------------------------------------------------
A bankruptcy judge has allowed Coastal Foods Baking LLC, a
manufacturer of bakery products, to fulfill two purchase orders it
received from a customer last month.

The court order signed by U.S. Bankruptcy Judge Michael Kaplan
authorized the manufacturer to deliver its products to the
customer under Crumbs Bake Shop's trademark.

Coastal Foods sought court intervention following a cease-and-
desist letter from Lemonis Fischer Acquisition Corp., the company
that acquired Crumbs Bake Shop Inc.'s major assets.

Coastal Foods manufactures and distributes cupcakes under a
license agreement with Crumbs Bake Shop.  Last month, the company
and Lemonis negotiated for a new contract after Crumbs Bake Shop
sought court approval to reject the license agreement.

After the companies failed to a reach a new agreement, Lemonis
allegedly warned Coastal Foods to stop using Crumbs Bake Shop's
brand as it infringes on its trademark rights.

                      About Crumbs Bake Shop

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

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

The U.S. Trustee appointed three creditors to serve in the
Official Committee of Unsecured Creditors.   Sharon L. Levine,
Esq., at Lowenstein Sandler LLP serves as Committee's counsel.

                           *     *     *

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

On the petition date, Crumbs entered into an Asset Purchase
Agreement through which Lemonis Fischer Acquisition Company, LLC,
a joint venture created by Marcus Lemonis LLC and Fischer
Enterprises, L.L.C., will acquire the Crumbs' business as part of
the Company's Chapter 11 filing.  Lemonis Fischer Acquisition is
represented by Louis Price, Esq., at McAfee & Taft PC.

On Aug. 29, 2014, Crumbs Bake Shops completed the sale of its
assets for a credit bid of $7,140,000 and the assumption of
various liabilities.  There are no cash proceeds and the credit
bid resulted in the repayment of all indebtedness to Lemonis
Fischer Acquisition, which held a first priority security interest
in the assets of the Company. The Company's remaining assets will
be liquidated and the proceeds thereof will be utilized to pay
unsecured liabilities in accordance with applicable law and
certain advisors' fees and expenses. The Company does not expect
that there will be any proceeds available for distribution to
shareholders.


CRUMBS BAKE SHOP: Lemonis Seeks to Block Use of Crumbs Trademark
----------------------------------------------------------------
The buyer of Crumbs Bake Shop, Inc.'s major assets has filed a
motion, which if approved, would prohibit licensees from using the
company's trademarks.

In its motion, Lemonis Fischer Acquisition Company, LLC asked the
U.S. Bankruptcy Court in New Jersey to issue an order clarifying
that section 365(n) of the Bankruptcy Code doesn't allow third-
party licensees to use Crumbs Bake Shop's trademarks, saying such
right is not included in the Bankruptcy Code's definition
of intellectual property.

The provision was added to the Bankruptcy Code in 1988 to protect
a licensee from being stripped of its rights to continue to use a
licensed intellectual property.

Under Section 365(n), if a company going through bankruptcy or
trustee rejects a license, a licensee can elect to retain its
rights to the intellectual property.  In return, the licensee must
continue to make any required royalty payment.

Lemonis said it sought clarification from the court because of
Brand Squared Licensing's "confusion" regarding a previous ruling
that authorized the sale of Crumbs Bake Shop's assets, including
its intellectual property.

Brand Squared, a licensing agent, had argued that Crumbs Bake Shop
could not reject any license agreement if the licensee elected to
invoke section 365(n) to continue using the company's intellectual
property despite the sale of its assets to Lemonis.

The motion is on Judge Michael Kaplan's calendar for Oct. 31.

                      About Crumbs Bake Shop

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

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

The U.S. Trustee appointed three creditors to serve in the
Official Committee of Unsecured Creditors.   Sharon L. Levine,
Esq., at Lowenstein Sandler LLP serves as Committee's counsel.

                           *     *     *

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

On the petition date, Crumbs entered into an Asset Purchase
Agreement through which Lemonis Fischer Acquisition Company, LLC,
a joint venture created by Marcus Lemonis LLC and Fischer
Enterprises, L.L.C., will acquire the Crumbs' business as part of
the Company's Chapter 11 filing.  Lemonis Fischer Acquisition is
represented by Louis Price, Esq., at McAfee & Taft PC.

On Aug. 29, 2014, Crumbs Bake Shops completed the sale of its
assets for a credit bid of $7,140,000 and the assumption of
various liabilities.  There are no cash proceeds and the credit
bid resulted in the repayment of all indebtedness to Lemonis
Fischer Acquisition, which held a first priority security interest
in the assets of the Company. The Company's remaining assets will
be liquidated and the proceeds thereof will be utilized to pay
unsecured liabilities in accordance with applicable law and
certain advisors' fees and expenses. The Company does not expect
that there will be any proceeds available for distribution to
shareholders.


CRUNCHIES FOOD: U.S. Trustee Appoints Creditors' Committee
----------------------------------------------------------
The U.S. Trustee for Region 16 appointed four creditors of
Crunchies Food Company, LLC to serve on the official committee of
unsecured creditors.

The unsecured creditors' committee is composed of:

     (1) Imperial Valley Foods, Inc.
         c/o Michael L. Branch, Esq.
         Law Office of Michael L. Branch
         655 West Broadway, Suite 1400
         San Diego, CA 92101
         Phone: 619-702-0500
         Fax: 619-702-0502
         E-mail: mlb@branchlaw.net

     (2) DMH Ingredients, Inc.
         c/o David Damlich
         1228 Anderson Way
         Libertyville, IL 60048
         Phone: 847-362-9977
         224-513-7475
         Fax: 847-362-9988
         E-mail: ddamlich@dmhingredients.com

     (3) Bella Food Sales, LLC
         c/o Gary Beckett
         56285 Erickson Drive
         Mishawaka, IN 46545
         Phone: 574-229-8803
         Fax: 888-901-1854
         E-mail: gbeckett@bellafoodsales.com

     (4) Shandong Searsport Foods Co., Ltd.
         c/o Law Offices of Michael Tudzin, APLC
         5700 Canoga Avenue, Ste. 300
         Woodland Hills, CA 91367
         Phone: 818-887-1000
         Fax: 818-887-1110
         E-mail: mtudzin@tudzinlaw.com

                        About Crunchies Food

Crunchies filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal.
Case No. 14-bk-11776) in Santa Barbara, California, on Aug. 15,
2014.  The case is assigned to Judge Peter Carroll.

The Debtor has tapped David L. Neale, Esq., at Levene Neale Bender
Rankin & Brill LLP, in Los Angeles, serves as counsel.  For its
legal services, the firm has agreed to accept $50,000.


DETROIT, MI: FGIC Settlement Clears Major Restructuring Hurdle
--------------------------------------------------------------
Kevyn D. Orr, Emergency Manager for the City of Detroit, issued
the following statement regarding the Oct. 16 announced settlement
with Financial Guaranty Insurance Company (FGIC), one of the
City's largest impaired creditors:

"[Thurs]day's settlement with Financial Guaranty Insurance Company
clears a major hurdle the City faced in its attempt to restructure
more than $7 billion in debt and free up nearly $1.4 billion to be
reinvested back into City services.  The City all along has sought
negotiated settlements with its impaired creditors that were not
only fair and reasonable given Detroit's financial situation, but
also would allow it to exit bankruptcy solvent and able to deliver
basic services to its nearly 700,000 residents.  I want to thank
FGIC for its hard work and willingness to reach this settlement
and to become a partner in Detroit's recovery.  I also want to
commend the work of U.S. Chief Judge Gerald Rosen and his team of
federal mediators who helped facilitate this agreement and all
other creditor agreements.  Credit also goes to the City and State
of Michigan officials who worked tirelessly to achieve the best
outcome for Detroiters."

Details of the settlement between the City and FGIC can be found
at:

http://www.detroitmi.gov/EmergencyManager/BankruptcyChapter9.aspx

                 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.

The Troubled Company Reporter, on Oct. 10, 2014, reported that
Moody's Investors Service has placed the City of Detroit's (MI)
Certificates of Participation (COPs) Ca rating on review for
possible downgrade. This action follows the recent settlement
announcement between the city and Syncora, which insures a portion
of the city's outstanding COPs. The settlement includes a cash
payment, as well as extended and optional stakes in city owned
assets. Moody's said it is likely that the recovery for creditors
will be below 35% and as a result consistent with a C rating. The
review will be resolved if and when a settlement with FGIC, the
other main insurer of the city's COPs liabilities, is made public.


DETROIT, MI: Kramer Levin Issues Statement on FGIC Settlement
-------------------------------------------------------------
The following statement is issued by Kramer Levin Naftalis &
Frankel LLP on behalf of the following holders of $1,015,270,000
Certificates of Participation ("COPs") insured by Financial
Guaranty Insurance Company ("FGIC"): Dexia Credit Local and Dexia
Holdings, Inc., Panning Capital Management, LP, on behalf of funds
and accounts managed by it, Monarch Alternative Capital LP, on
behalf of funds and accounts managed by it, Bronze Gable, L.L.C.,
Aurelius Capital Management, LP, on behalf of its managed
entities, Stone Lion Capital Partners L.P., on behalf of funds and
accounts managed by it, and BlueMountain Capital Management, LLC,
on behalf of funds and accounts managed by it (collectively, the
"Ad Hoc COPs").

Over the last several days, the Ad Hoc COPs have actively
participated in mediated negotiations among the Ad Hoc COPs, FGIC
and the City of Detroit with the goal of settling FGIC's and the
Ad Hoc COPs' objections to the City's Chapter 9 bankruptcy plan
and the attendant claims of the Ad Hoc COPs against FGIC.  By
Oct. 15, the parties had reached an agreement in principle on the
basis of the attached term sheet (a copy of which will be filed on
the City's bankruptcy docket and available at
https://www.kccllc.net/Detroit).  Unfortunately, last evening FGIC
informed representatives of the Ad Hoc COPs that it was unable to
accelerate payments on the policies of one of the three series of
FGIC-insured COPs without the consent of a third party.

FGIC and the City announced in Bankruptcy Court this morning of
October 16, 2014 that (i) they had reached an agreement among each
other, which is reflected in a revised term sheet available on the
City's Bankruptcy Website (Docket No. 7963) and (ii) they intend
to proceed with a settlement on substantially the terms
contemplated by the Term Sheet, except that none of the three
series of FGIC-insured COPs would be accelerated.  All FGIC-
insured COPs holders would be provided with the option of
participating in the terms of that settlement, which FGIC is
currently drafting.  As of the date hereof, the Ad Hoc COPs have
not accepted these modified terms and reserve all rights as
against the City and FGIC. The Ad Hoc COPs are open to resuming
discussions to bring about a comprehensive resolution to the
matter.

Although not reflected in the Term Sheet, the deal dishonored by
FGIC also contained the following provisions:

    * FGIC would begin the monetization process of the development
rights for the real property located in the City upon which is
presently situated the Joe Louis Arena and the Joe Louis Arena
garage at least six months prior to the expiration of FGIC's
ability to develop said parcel or a major capital call.

    * FGIC agreed to sell C Notes provided by the City as part of
its consideration to FGIC and COPs holders at or near par within
two years.

    * The parties agreed to appoint a "restricted representative"
to oversee the liquidation of all assets including the JLA
development rights on behalf of the COPs, who would be paid by
FGIC. Such fees for a restricted representative would be capped at
$100,000 annually.

    * Parties that contribute capital would be provided with a
"Preferred Return" of 10% cumulative annual return, compounded
annually or, in certain circumstances, a "Super Preferred Return"
of 15% cumulative annual return, compounded annually.

                 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.

The Troubled Company Reporter, on Oct. 10, 2014, reported that
Moody's Investors Service has placed the City of Detroit's (MI)
Certificates of Participation (COPs) Ca rating on review for
possible downgrade. This action follows the recent settlement
announcement between the city and Syncora, which insures a portion
of the city's outstanding COPs. The settlement includes a cash
payment, as well as extended and optional stakes in city owned
assets. Moody's said it is likely that the recovery for creditors
will be below 35% and as a result consistent with a C rating. The
review will be resolved if and when a settlement with FGIC, the
other main insurer of the city's COPs liabilities, is made public.


DOMUM LOCIS: Receiver & Custodian Taps Epps & Coulson as Counsel
----------------------------------------------------------------
Robert C. Warren III, the acting State Court Receiver and
Custodian of the bankruptcy estate of Domum Locis LLC, seeks
authorization from the Hon. Robert N. Kwan of the U.S. Bankruptcy
Court for the  Central District of California to employ Epps &
Coulson, LLP as custodian's legal counsel, nunc pro tunc to July
11, 2014 filing of the bankruptcy petition.

The Custodian seeks to employ Epps & Coulson to provide advice on
matters relating to bankruptcy law and otherwise assist and
represent him with the discharge of his duties as receiver and
custodian of the Debtor's estate and in connection with any and
all proceedings in this bankruptcy case.

The Custodian requires Epps & Coulson to:

   (a) advise the Custodian regarding matters of bankruptcy law;

   (b) represent the Custodian in proceedings or hearings in this
       Court involving matters of bankruptcy law;

   (c) assist the Custodian in discharging his duties as custodian
       in this case and negotiating with other parties with
       respect to the scope of his duties and responsibilities;

   (d) assist the Custodian in providing written or oral reports
       to this Court in connection with the Debtor's operations
       and the conduct of this case and representing the Custodian
       in any proceeding before this Court;

   (e) advise the Custodian concerning the requirements of the
       Bankruptcy Code, and federal and local rules relating to
       the administration of this case, and the effect of this
       case on the operations of the Debtor; and

   (f) advise and assist the Custodian in connection with his
       applications or compensation in this Court.

Epps & Coulson will be paid at these hourly rates:

       Dawn M. Coulson            $450
       Jeffrey A. Cohen           $350
       Chris Bordenave            $295
       Attorneys                  $275-$450
       Paralegal                  $195-$210

Epps & Coulson will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Dawn M. Coulson, partner of Epps & Coulson, 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.

Epps & Coulson can be reached at:

       Dawn M. Coulson, Esq.
       EPPS & COULSON, LLP
       707 Wilshire Blvd., Suite 3000
       Los Angeles, CA 90017
       Tel: (213) 929-2390
       Fax: (213) 929-2394
       E-mail: dcoulson@eppscoulson.com

                       About Domum Locis

Domum Locis LLC filed a Chapter 11 bankruptcy petition (Bankr.
C.D. Calif. Case No. 14-23301) on July 11, 2014.  Michael J.
Kilroy signed the petition as managing member.  The Debtor
estimated assets and liabilities of at least $10 million.  Cypress
LLP serves as the Debtor's counsel.  Judge Robert N. Kwan presides
over the case.


DRUG TRANSPORT: Avoids a Trustee With Restructuring Officer
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Drug Transport Inc., a provider of truck
transportation services, avoided a trustee to oversee its Chapter
11 case by by naming a chief restructuring officer with power to
hire, fire, and lower anyone's salary.  According to the report,
the Company resorted to bankruptcy when secured lender Branch
Banking & Trust Co. was on the brink of having a receiver
appointed to take over the business.

                       About Drug Transport

Drug Transport, Inc., and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code on Aug. 11, 2014 (Case No.
14-65621, Bankr. N.D. Ga.).  The case is assigned to Judge Barbara
Ellis-Monro.  The Debtors' counsel is James C. Cifelli, Esq.,
Gregory D. Ellis, Esq., and William D. Matthews, Esq., at
Lamberth, Cifelli, Stokes, Ellis & Nason, P.A., in Atlanta,
Georgia.  The petition was signed by Bayard Hollingsworth, chief
restructuring officer.


DUNE ENERGY: Amends Tender Offer Statement With SEC
---------------------------------------------------
Dune Energy, Inc., filed an amendment to its Schedule TO which
amends and supplements the Tender Offer Statement filed by Eos
Petro, Inc., and Eos Merger Sub, Inc., a directly wholly owned
subsidiary of Eos ("Purchaser") with the Securities and Exchange
Commission on Oct. 9, 2014, relating to the offer by Eos to
purchase each of the outstanding shares of common stock, par value
$0.001 per share, of Dune Energy for $0.30 in cash, without
interest and less any required withholding taxes, upon the terms
and subject to the conditions set forth in the Offer to Purchase,
dated Oct. 9, 2014, and the related Letter of Transmittal.

The following three paragraphs are added as supplements after the
last paragraph under Section 11 - "Background of the Offer, Past
Contacts or Negotiations with Dune" of the Offer to Purchase:

"After the commencement of the Offer, on October 9, 2014, the Dune
Board determined in good faith (after taking into account the
advice of its financial and legal advisors) at a meeting of the
Dune Board, that the unsolicited acquisition proposal received
from the potential strategic buyer which contacted PWP on
September 25, 2014, September 30, 2014 and October 1, 2014 could
reasonably be expected to result in a Superior Proposal, requiring
disclosure to Eos.  Dune notified Eos of its determination on
October 9, 2014.  On October 9, 2014, Dune and the potential
strategic buyer entered into a non-disclosure agreement, in
substantially the same form as entered into with Eos, which
restricts the potential strategic buyer's disclosure and use of
Dune's confidential, non-public information and contained a two
year standstill provision that, among other things, restricted the
ability of the potential strategic buyer to acquire or seek to
acquire the assets or securities of Dune without the Dune Board's
consent.

As of the date of this Amendment, Dune and PWP were engaged in
discussions with such potential strategic buyer and its advisors
to determine whether the proposal constitutes, or could be revised
to constitute, a Superior Proposal.  There can be no assurance
that any discussions with respect to the unsolicited proposal will
result in a transaction being recommended by the Dune Board, or
that any such transaction will be consummated.  Except as required
by applicable law, Dune does not intend to disclose the possible
terms of any alternative transaction or the identity of any person
proposing such alternative transaction, prior to the execution of
a definitive agreement with respect to such alternative
transaction, if any.  Furthermore, under the Merger Agreement,
Dune has an obligation to keep Eos informed on a reasonably
current basis of the status and material details of such potential
alternative transactions."

As of the date of this Amendment, the Dune Board continues to
unanimously recommend that Dune stockholders accept and tender
their Shares pursuant to the Offer described in the Merger
Agreement.

                         About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/
-- is an independent energy company based in Houston, Texas.
Since May 2004, the Company has been engaged in the exploration,
development, acquisition and exploitation of natural gas and crude
oil properties, with interests along the Louisiana/Texas Gulf
Coast.  The Company's properties cover over 90,000 gross acres
across 27 producing oil and natural gas fields.

Dune Energy reported a net loss of $46.98 million in 2013, a net
loss of $7.85 million in 2012 and a net loss of $60.41 million in
2011.

As of June 30, 2014, the Company had $231.47 million in total
assets, $143.03 million in total liabilities and $88.43 million in
total stockholders' equity.

                           Going Concern

"We monitor our financial progress very carefully and attempt to
adjust our available projects in order to meet all of the
covenants of the Credit Agreement.  Notwithstanding these efforts,
our future revolver availability is also driven by the amount of
Notes outstanding, as they are part of the EBITDAX covenant
calculation used to determine our borrowing limit under the
revolver.  As a result of the PIK feature contained in the Notes,
the amount outstanding has increased over time and, therefore,
continues to put pressure on the EBITDAX covenant and limit
borrowing availability.  As we are no longer in compliance with
the financial covenant of the Credit Agreement, additional
borrowings may not permitted, and the outstanding revolver loans
may become due and payable upon notice to us by the Bank of
Montreal.  Absent relief from the Credit Agreement Lenders, the
restructuring of a material portion of the Notes or the emergence
of a new lender, our ability to meet our obligations in due course
is threatened.  Management is currently in discussions with all
parties and seeking new credit providers or other strategic
alternatives in an effort to resolve this liquidity stalemate.

"These and other factors raise substantial doubt about our ability
to continue as a going concern for the next twelve months," the
Company stated in the Form 10-Q Report for the period ended
June 30, 2014.


EAGLE BULK: Completes Court-Approved Financial Restructuring
------------------------------------------------------------
Eagle Bulk Shipping Inc. on Oct. 15 disclosed that it has
successfully completed its court-approved financial restructuring,
emerging with a strong balance sheet and significantly enhanced
liquidity.

Sophocles N. Zoullas, Chairman and Chief Executive Officer,
commented, "We are very pleased to have concluded our balance
sheet restructuring, which has placed the Company in a far
stronger position to compete in the cyclical shipping markets.
Eagle Bulk is grateful to our lenders for their strong support in
achieving this transformational result on an expedited timeframe,
and also to our customers and vendors who supported us during the
process.  The Company's employees and crew have also worked
tirelessly to ensure Eagle Bulk remains the premier Supramax
owner/operator in the world."

The financial restructuring process has enabled Eagle Bulk to
reduce its debt obligations by 80%, or approximately $1 billion,
as well as greatly lower its annual cash interest expense and
significantly enhance liquidity.

Mr. Zoullas continued, "With our new and conservative capital
structure in place, an on-the-water quality fleet of 45 vessels,
and a best-in-class management platform, Eagle Bulk is uniquely
positioned to capitalize on current and future drybulk market
fundamentals."

In conjunction with its emergence from the financial restructuring
process, Eagle Bulk on Oct. 15 closed on a new $275 million exit
financing facility, comprised of a $225 million term loan and a
$50 million revolving credit facility.

On September 22, 2014, the United States Bankruptcy Court for the
Southern District of New York confirmed Eagle Bulk's Plan of
Reorganization, which received the unanimous support of Eagle
Bulk's secured lenders.  Under the terms of the Plan, the Lenders
converted their debt into 99.5% of the new equity in the
reorganized Eagle Bulk, subject to dilution, and received a cash
distribution from the proceeds of the exit financing facility.

Also, in accordance with the Plan, all existing equity interests
in Eagle Bulk have been cancelled, with such equity interests
receiving, subject to dilution, 0.5% of new equity in the
reorganized Eagle Bulk and seven-year warrants to acquire an
additional 7.5% of the new equity in the reorganized Eagle Bulk,
subject to dilution.

Court documents and other information for the Company's
stakeholders remain available on a dedicated website administered
by Eagle Bulk's noticing agent, Kurtzman Carson Consultants, at
www.eaglebulkrestructuring.com or by calling 877-709-4746 (424-
236-7227 for international calls).  Inquiries may also be emailed
to: eaglebulkinfo@kccllc.com

Eagle Bulk's legal advisor is Milbank, Tweed, Hadley & McCloy LLP,
its financial advisor is Moelis & Company, and its restructuring
advisor is Alvarez & Marsal.

                   About Eagle Bulk Shipping

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

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

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

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

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

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


EAGLE BULK: Files Post-Confirmation Timetable
---------------------------------------------
BankruptcyData reported that Eagle Bulk Shipping filed with the
U.S. Bankruptcy Court a notice of presentment of order approving a
post-confirmation timetable for achieving substantial consummation
of the Prepackaged Plan of Reorganization and entry of a final
decree closing the Debtor's case.  The Debtor anticipates that the
effective date of the Plan will occur on or before Oct. 11, 2014,
according to the report.  The Debtor will present the timetable
for court approval on Oct. 20.

                    About Eagle Bulk Shipping

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

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

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

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

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

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

Judge Sean Lane of the U.S. Bankruptcy Court for the Southern
District of New York, on Sept. 22, 2014, issued a findings of
fact, conclusions of law and order approving the disclosure
statement and confirming the prepackaged plan of reorganization
filed by Eagle Bulk Shipping Inc.


EFL PARTNERS: Two-Time Loser Files for Bankruptcy Without Lawyer
----------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a real estate owner from Philadelphia named
EFL Partners X filed a Chapter 11 petition without a lawyer but,
evidently knowing it isn't proper to file one without counsel, it
said in court papers that it was in the process of hiring counsel.

According to the report, EFL, which had been in Chapter 11 twice
before, said the new lawyer "became aware of a prior Chapter 11
filing" and said it couldn't file a new petition "without engaging
in further due diligence."

The new case is EFL Partners X, 14-bk-18043, U.S. Bankruptcy
Court, Eastern District of Pennsylvania (Philadelphia).


ELBIT IMAGING: Plans to Sell Mango Retail Stores Operation
----------------------------------------------------------
Elbit Imaging Ltd. and Elbit Fashion are negotiating with Fox-
Wisel Ltd. regarding the purchase of the operation of the Mango
retail stores by Fox-Wisel, according to a regulatory filing with
the U.S. Securities and Exchange Commission.  The consideration
expected under the Transaction is estimated at approximately NIS
28 million in addition to the price of Elbit Fashion's inventory
that will be transferred to Fox-Wisel.

The negotiations are expected to be consummated at the end of
November 2014.

The Company previously announced on Sept. 29, 2014, that its
subsidiary Elbit Fashion Ltd. received from PUNTO FA, S.L.,
written notice of its intention not to extend the term of the
franchise rights of Elbit Fashion for operation of the "Mango"
retail stores in Israel.

The closing of the transaction will be conditioned upon the
approval of the Israeli Antitrust Authority as well as the
satisfaction of certain conditions precedent as will be set forth
in the definitive agreements.

                 Pricing Changed Ahead of Plaza's
                    Proposed Rights Offering

Elbit Imaging announced that as part of the debt restructuring
process of Plaza Centers N.V., a public company listed on the
London Stock Exchange and the Warsaw Stock Exchange in which the
Company holds approximately 62.25% of the outstanding shares, that
Plaza announced that the terms of rights offering to existing
shareholders which will be undertaken by Plaza as part of its debt
restructuring will be re-priced at EUR 0.0675 per share.

As announced by Plaza, it has been actively reviewing the
arrangements for the proposed Rights Offering and has noted the
movement in Plaza's share price since June 23, 2014.  As a result,
Plaza has taken the decision to reduce the Rights Offering price
to EUR 0.0675 per share to ensure optimal conditions for a full
participation in the Rights Offering by shareholders.  The parties
to the Undertaking and Back Stop Agreement described in the
Previous Announcement intend to amend the said agreements to
reflect this change.

The Rights Offering remains subject to the approval of the Plaza's
board of directors and of its shareholders, who will be presented
with a number of resolutions at a forthcoming general meeting.

                      About Elbit Imaging Ltd.

Tel-Aviv, Israel-based Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)
hold investments in real estate and medical companies.  The
Company, through its subsidiaries, also develops shopping and
entertainment centers in Central Europe and invests in and manages
hotels.

Since February 2013, Elbit has intensively endeavored to come to
an arrangement with its creditors.  Elbit has said it has been
hanging by a thread for more than five months.  It has encountered
cash flow difficulties and this burdens its day to day activities,
and it certainly cannot make the necessary investments to improve
its assets.  In light of the arrangement proceedings, and
according to the demands of most of the bondholders, as well as an
agreement that was signed on March 19, 2013, between Elbit and the
Trustees of six out of eight series of bonds, Elbit is prohibited,
inter alia, from paying off its debts to the financial creditors
-- and as a result a petition to liquidate Elbit was filed, and
Bank Hapoalim has declared its debts immediately payable,
threatening to realize pledges that were given to the Bank on
material assets of the Company -- and Elbit undertook not to sell
material assets of the Company and not to perform any transaction
that is not during its ordinary course of business without giving
an advance notice to the trustees.

Accountant Rony Elroy has been appointed as expert for examining
the debt arrangement in the Company.

In July 2013, Elbit Imaging's controlling shareholders, Europe-
Israel MMS Ltd. and Mr. Mordechay Zisser, notified the Company
that the Tel Aviv District Court has appointed Adv. Giroa Erdinast
as a receiver with regards to the ordinary shares of the Company
held by Europe Israel securing Europe Israel's obligations under
its loan agreement with Bank Hapoalim B.M.  The judgment stated
that the Receiver is not authorized to sell the Company's shares
at this stage.  Following a request of Europe-Israel, the Court
also delayed any action to be taken with regards to the sale of
those shares for a period of 60 days.  Europe Israel and
Mr. Zisser have also notified the Company that they utterly reject
the Bank's claims and intend to appeal the Court's ruling.

Elbit Imaging reported a loss of NIS1.56 billion on
NIS360.59 million of total revenues for the year ended Dec. 31,
2013, as compared with a loss of NIS483.98 million on NIS418.48
million of total revenues in 2012.

As of June 30, 2014, the Company had NIS4.05 billion in total
assets, NIS3.16 billion in total liabilities and NIS889.58 million
shareholders' equity.

Brightman Almagor Zohar & Co., a member firm of Deloitte Touche
Tohmatsu, in Tel-Aviv, Israel, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.


EMANUEL L. COHEN: Bank Hapoalim Opposes Plan Exclusivity Extension
---------------------------------------------=--------------------
Bank Hapoalim, B.M., objects to Emanuel L. Cohen's request for a
90-day extension of its exclusive plan filing period.

The Bank, which holds a claim against the Debtor for more than
$4.8 million, is the Debtor's single largest creditor.

The Bank contends that although identified as a Motion to Extend
the Debtor's exclusive period to file a plan, the Motion actually
appears to be seeking a 90-day extension of the Court's Oct. 3,
2014 deadline to file a plan and disclosure statement.

The Debtor is the 100% owner of D.I.T., Inc. and Salon's Best,
Inc., each of which have filed chapter 11 petitions.  Bank
Hapoalim says that at present, neither DIT nor Salon's Best has
any premises or business operations and their respective assets
have been sold for an aggregate gross purchase price of less than
$65,000, while their scheduled liabilities exceed $16 million and
$11 million, respectively.

Moreover, the Bank points out, the Debtor's sole source of income
is Social Security and the combined monthly expenses of the Debtor
and his wife, a non-debtor, reportedly exceeds their combined
monthly income by more than $20,000.

Bank Hapoalim contends that the Debtor has never articulated how
he intends to propose a plan under his circumstances -- -- (a) an
insolvent individual debtor who can't even keep up with his
monthly living expenses; (b) two non-operating debtors that have
less than $70,000 in (fully encumbered) liquid assets between
them; (c) no available financing; and (d) millions of dollars of
trade and other debt.

The Motion to Extend utterly fails to offer any justification for
the extension sought, the Bank maintains.

At the time the Debtor's Chapter 11 case was filed, the Bank
firmly believed that the Debtor had zero ability to propose a
feasible plan and the purpose for filing a petition was delay
simply for the sake of delay.  Nothing in the Motion changes the
Bank's opinion.

Counsel to Bank Hapoalim are:

         SHUTTS & BOWEN LLP
         Peter H. Levitt, Esq.
         Larry I. Glick, Esq.
         Harris J. Koroglu, Esq.
         1500 Miami Center
         201 South Biscayne Boulevard
         Miami, FL 33131
         Tel No: 305-358-6300
         Fax No: 305-415-9847
         Email: plevitt@shutts.com
                lglick@shutts.com
                hkoroglu@shutts.com

                     About Emanuel L. Cohen

Emanuel L. Cohen, D.I.T. Inc., and Salon's Best, Inc., filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Fla. Lead Case No.
14-23125) at West Palm Beach, Florida, on June 6, 2014.  D.I.T.
and Salon's Best disclosed $12 million in assets and debt.
Emanuel L. Cohen disclosed $6,699,546 in assets and $14,116,055 in
liabilities as of the Petition Date.  Kenneth S. Rappaport, Esq.,
at Rappaport Osborne & Rappaport, PL, in Boca Raton, Florida,
serves as counsel to the Debtors.

As reported in the Troubled Company Reporter on July 25, 2014,
the U.S. Trustee notified the Bankruptcy Court that until further
notice, it will not appoint a committee of creditors pursuant to
Section 1102 of the Bankruptcy Court.


ENDEAVOUR INT'L: Proposes to Limit Trading to Protect NOLs
----------------------------------------------------------
Endeavour International Corporation and its debtor-affiliates seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to establish procedures to protect the potential value of
the Debtors' net operating loss carryforwards ("NOLs") and certain
other tax attributes.

The Debtors estimate that they have incurred, for U.S. federal
income tax purposes, at least $300 million of consolidated NOLs in
addition to certain other tax attributes, including built-in
(unrecognized) losses.

The NOLs and tax attributes may be valuable assets of the Debtors'
estates because the Internal Revenue Code of 1986, as amended,
generally permits corporations to carry over their losses and tax
credits to offset future income, thereby reducing such
corporations' tax liability in future periods.

Because an "ownership change" may negatively impact the
utilization of their NOLs, the Debtors proposed these procedures:

   * Any "substantial equityholder" must serve and file a
declaration on or before the later of (i) 30 calendar days after
the date of the interim order approving the procedures and (ii) 10
days after becoming a substantial equityholder.

   * A "substantial equityholder" is any person or Entity that
beneficially owns at least:

      a. [___] shares of Endeavour's Series C Preferred Stock
(representing 4.75% of all shares of Endeavour's Series C
Preferred Stock issued and outstanding);

      b. 936 shares of Endeavour's Series B Preferred Stock
(representing 4.75% of all shares of Endeavour's Series B
Preferred Stock issued and outstanding); or

      c. 2,271,212 shares of Endeavour's common stock
(representing approximately 4.75% of all shares of Endeavour's
Common Stock issued and outstanding).

   * At least 20 business days prior to effectuating any transfer
of the equity securities that would result in another entity
becoming a substantial equityholder, the parties to such
transaction must serve and file a notice of the intended stock
transaction.

   * The Debtors and the statutory committee have 30 calendar days
after receipt of the stock transaction notice to object to the
proposed transaction.

   * If the Debtors do not object, the proposed transaction may
proceed.

   * Any transfer of the equity securities in violation of the
procedures will be null and void ab initio.

                         Trading In Claims

The Debtors also proposed procedures to limit claims trading in
the event a plan proponent determines that the reorganized Debtors
likely will benefit from the application of section 382(l)(5) of
the Tax Code and reasonably anticipates that the reorganized
Debtors will invoke such section (a "382(l)(5) Plan").

The Debtors explain that it is likely that any chapter 11 plan
that contemplates a reorganization of the Debtors will involve the
issuance of new common stock in the Debtors (or any successor to
the Debtors) and the distribution of such stock to certain
creditors in satisfaction, in whole or in part, of their
respective Claims against the Debtors.  This issuance and
distribution likely would result in an "ownership change" under
section 382 of the Tax Code. In such event, the Debtors may be
able to avail themselves of the special relief afforded by section
382(l)(5) of the Tax Code for ownership changes pursuant to a
confirmed chapter 11 or applicable court order.

                 About Endeavour International

Houston-based Endeavour International Corporation (NYSE: END)
(LSE: ENDV) is an oil and gas exploration and production company
focused on the acquisition, exploration and development of energy
reserves in the North Sea and the United States.

On Oct. 10, 2014, Endeavour International and five affiliates
filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code after reaching a restructuring deal
with noteholders.  The cases are pending joint administration
under Endeavour Operating Corp.'s Case No. 14-12308 before the
Honorable Kevin J. Carey (Bankr. D. Del.).

As of June 30, 2014, the Company had $1.55 billion in total
assets, $1.55 billion in total liabilities, $43.70 million in
series c convertible preferred stock, and a $41.48 million
stockholders' deficit.

The Debtors have tapped Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A., as co-counsel; The Blackstone
Group L.P., as financial advisor; AlixPartners, LLP, as
restructuring advisor; and Kurtzman Carson Consultants LLC, as
claims and noticing agent.


ENDEAVOUR INT'L: Proposes KCC as Claims and Noticing Agent
----------------------------------------------------------
Endeavour International Corporation and its debtor-affiliates
filed an application to employ Kurtzman Carson Consultants LLC as
claims and noticing agent.

Although the Debtors have not yet filed their schedules of assets
and liabilities, they anticipate that there will be approximately
2,000 entities to be noticed.  In view of the number of
anticipated claimants, the Debtors submit that the appointment of
a claims and noticing agent is both necessary and in the best
interests of the Debtors' estates and their creditors.

Prior to the Petition Date, the Debtors provided KCC a retainer in
the amount of $10,000.

According to the services agreement, KCC will charge at these
rates for these consulting services:

                                         Discounted
   Position                             Hourly Rate
   --------                             -----------
Executive Vice President                  Waived
Senior Managing Consultant                 $180
Solicitation and Notification Manager  $170 to $175
Senior Consultant                      $125 to $165
Consultant                              $75 to $125
Project Specialist                      $50 to $80
Call Center Operator I                     $45
Technology/Programming Consultant       $45 to $85
Clerical                                $30 to $45
Weekend, holidays and overtime            Waived

For its noticing services, KCC will waive fees for electronic
noticing, and $0.08 per page for facsimile noticing.  For claims
administration and management, and for online claims filing (ePOC)
services, the firm will waive the fees.

To the best of the Debtors' knowledge, KCC is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

         KURTZMAN CARSON CONSULTANTS LLC
         2335 Alaska Ave.
         El Segundo, CA 90245
         Attn: Drake D. Foster
         Tel: (310) 823-9000
         Fax: (310) 823-9133
         E-mail: dfoster@kccllc.com


ENDEAVOUR INTERNATIONAL: Bankruptcy Filing Constitutes Default
--------------------------------------------------------------
Endeavour International Corporation and five of its affiliates
filed Chapter 11 bankruptcy petitions.  The commencement of the
Bankruptcy Cases constitutes an event of default that accelerated
or, in the case of the Trust Deed, permits the acceleration upon
notice, the Company's obligations under the following debt
instruments.  Any efforts to enforce those payment obligations
under the Debt Documents are automatically stayed as a result of
the filing of the petitions for relief and the holders' rights of
enforcement in respect of the Debt Documents are subject to the
applicable provisions of the Bankruptcy Code.

   * Indenture, dated as of March 3, 2014, among the Company, as
     issuer, each of the guarantors named therein, and Wilmington
     Savings Fund Society, FSB, as trustee, with respect to an
     aggregate principal amount of $17.5 million of 6.5%
     Convertible Notes due 2017, plus accrued and unpaid interest
     thereon.

   * First Priority Indenture, dated as of Feb. 23, 2012, among
     the Company, as issuer, each of the guarantors named therein,
     and Wells Fargo Bank, National Association, as trustee and
     collateral agent, with respect to an aggregate principal
     amount of $404 million of 12% First Priority Notes due 2018;
     plus accrued and unpaid interest thereon.

   * Second Priority Indenture, dated as of Feb. 23, 2012, among
     the Company, as issuer, each of the guarantors named therein,
     and Wilmington Trust, National Association, as trustee, and
     Wells Fargo Bank, National Association, as collateral agent,
     with respect to an aggregate principal amount of $150 million
     of 12% Second Priority Notes due 2018, plus accrued and
     unpaid interest thereon.

   * Indenture, dated as of July 22, 2011, among the Company, as
     issuer, each of the guarantors named therein, and Wilmington
     Savings Fund Society, FSB, as trustee, with respect to an
     aggregate principal amount of $135 million of 5.5%
     Convertible Notes due 2016, plus accrued and unpaid interest
     thereon.

   * Trust Deed, dated Jan. 24, 2008, among the Company, Endeavour
     Energy Luxembourg S.a.r.l. and BNY Corporate Trustee Services
     Limited, as trustee, with respect to an aggregate principal
     amount of $40 million of 7.5% Guaranteed Convertible Bonds
     due 2016, plus accrued and unpaid interest thereon.

                    About Endeavour International

Houston-based Endeavour International Corporation (NYSE: END)
(LSE: ENDV) is an oil and gas exploration and production company
focused on the acquisition, exploration and development of energy
reserves in the North Sea and the United States.

On Oct. 10, 2014, Endeavour International and five affiliates
filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code after reaching a restructuring deal
with noteholders.

The cases are pending joint administration under Endeavour
Operating Corp.'s Case No. 14-12308 before the Honorable Kevin J.
Carey (Bankr. D. Del.).

As of June 30, 2014, the Company had $1.55 billion in total
assets, $1.55 billion in total liabilities, $43.70 million in
series c convertible preferred stock and a $41.48 million total
stockholders' deficit.

The Debtors have tapped Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A., as co-counsel; The Blackstone
Group L.P., as financial advisor; AlixPartners, LLP, as
restructuring advisor; and Kurtzman Carson Consultants LLC, as
claims and noticing agent.


ENERGY FUTURE: Warned Not to Trip Over Taxes in Oncor Sale
----------------------------------------------------------
Peg Brickley, writing for Daily Bankruptcy Review, reported that
U.S. tax authorities reminded everyone involved in Energy Future
Holdings Corp.'s bankruptcy case that when it comes to deciding
the shape of a pending major deal, the Internal Revenue Service is
making the rules.  According to the report, in a three-paragraph
filing on the proposed sale of Energy Future's stake in Oncor,
Acting Assistant Attorney General Tamara Ashford said the U.S.
will try to block "any bid that would generate a large unfunded
income tax liability."

                       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: Says Bonuses Consistent With Industry Standards
--------------------------------------------------------------
Energy Future Holdings Corp. is asking the Bankruptcy Court to
deny the objections lodged by the U.S. Trustee to its proposal to
continue its insider compensation programs.

Counsel to the Debtors, Jason M. Madron, Esq., at Richards, Layton
& Finger, P.A., notes that none of the Debtors' creditors, unions,
shareholders, or other constituents -- the direct economic
stakeholders in these companies -- have objected to the Debtors'
proposal to pay $20 million in executive bonuses.

Yet, the U.S. Trustee has lodged an objection to the Debtors'
motion on the ground that the programs "appear" to call for "pay
to stay payments" if the Debtors hit targets that "may" be "lay-
ups."  The core of the U.S. Trustee's objection is the argument
that the Debtors "have not met their burden of proof to show that
the Insider Bonus Plans are incentivizing."

The U.S. Trustee, Mr. Madron points out, never mentions the
extensive evidence submitted by the Debtors: (1) a 67-page
declaration from an independent energy expert, Todd Filsinger, who
demonstrates in excruciating detail why the metrics are, in his
words, "difficult to achieve, reasonable and fairly incentivize
plan participants"; and (2) a declaration from an independent
compensation consultant, Doug Friske, who explains that the
programs are consistent with market practice in design, structure,
and amount of potential compensation.

"It is on that basis -- and the evidence that will be presented at
trial -- that this Court should allow the Debtors to continue
their long-existing programs, without which the total compensation
potentially available for the Debtors' senior-most management
would lag well behind market," Mr. Madron tells the Court.

According to Energy Future, the total cost of the incentive
programs (the AIP, EAIP, and Key Leader Performance Program) is
approximately 0.73% of EFH's projected 2014 revenues of $11.23
billion and approximately 1.11% of TCEH's projected 2014 revenues
of $7.396 billion.  The Debtors' anticipated costs are within the
range of observed market practice: the median cost of annual
incentive programs, based on general industry data, as a
percentage of revenues is 0.69% and the 75th percentile is 1.15%.
The total compensation that might be awarded under these programs,
moreover, is well in line with -- if not below -- market.

A full-text copy of the Debtors' response to the U.S. Trustee's
objection is available for free at:

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

                       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: Court Allows U.S. Trustee's Witness to Testify
-------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Christopher S. Sontchi
in Wilmington, Del., allowed the U.S. Trustee's main witness in
opposing Energy Future Holdings Corp.'s bid to pay $20 million in
executive bonuses to testify despite the debtor's contention he's
a non-expert giving expert testimony.  According to the report,
during a trial over the bonus request, Judge Sontchi said the
inclusion of testimony from Michael T. Panacio, a bankruptcy
analyst and auditor with the U.S. Trustee's Office, may come close
to crossing the line of federal rules of evidence regarding expert
witnesses but ultimately ruled that the kind of analysis Panacio
used in his examination of EFH's bonus plan was not something that
required him to be an energy industry expert to calculate, and
thus sided against the debtor's position the auditor would be
giving expert testimony without being qualified to do so.

                       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.


ESSAR STEEL: Moody's Raises Corporate Family Rating to B2
---------------------------------------------------------
Moody's Investors Service upgraded Essar Steel Algoma Inc.'s (ESA)
Corporate Family Rating (CFR) and Probability of Default Rating to
B2 and B2-PD respectively from Ca and Ca-PD respectively. At the
same time, Moody's assigned a Ba2 rating to the proposed ABL
revolver, a Ba3 rating to the proposed senior secured $350 million
term loan, a Ba3 rating to the proposed $350 million senior
secured notes, and a B3 rating to the proposed $275 million 3rd
lien secured notes. Upon completion of the refinancing Moody's
will withdraw the ratings on the senior secured ABL/term loan
(Caa1), the $400 million senior secured notes due 2015 (Caa2) and
the $384 million senior unsecured notes due 2015 (C). The SGL-4
speculative grade liquidity rating has been withdrawn as ESA no
longer provides public financial statements. The rating actions
reflect ESA's debt restructuring. Proceeds from the restructuring
will be used to repay the ABL/Term loan, the $400 million senior
secured notes and roughly 82% of the senior unsecured notes under
the cash payout option approved under the plan of arrangement by
the Ontario Superior Court of Justice. The rating outlook is
stable.

Issuer: Essar Steel Algoma Inc.

Upgrades:

Probability of Default Rating, Upgraded to B2-PD from Ca-PD

Corporate Family Rating, Upgraded to B2 from Ca

Assignments:

ABL Revolver, Assigned Ba2, (LGD1)

Senior Secured Term loan, Assigned Ba3, (LGD2)

Senior Secured Notes, Assigned Ba3 (LGD2)

Senior Secured 3rd Lien Notes, Assigned B3 (LGD4)

Withdrawals:

Speculative Grade Liquidity Rating, SGL-4

Ratings Rationale

The B2 CFR reflects ESA's improved capital structure following its
refinancing and recapitalization, which results in lower debt
levels and a strengthened equity position. The recapitalization
also includes ESA's ultimate parent, Essar Global Fund Limited and
its affiliates, providing roughly $400 million in support through
a combination of an equity infusion, the conversion of existing
obligations into preferred stock and the purchase of ESA's Port of
Algoma. The refinancing will result in an approximate $240 million
reduction in debt and improved liquidity.

The CFR considers the improved debt protection metrics and reduced
leverage of the company as a result of both the reduction in
absolute debt levels and improved earnings generation capability
going forward. Based on Moody's assumptions of future run rate
performance, leverage, as measured by the debt/EBITDA ratio, would
range between 4.8x and 5.2. A critical factor in the improved
fundamentals expected for the company is the lower cost production
profile on a go forward basis as a result of the renegotiation of
ESA's iron ore supply contract with Cliffs Natural Resources. With
contract pricing now more in line with the market, ESA should
exhibit a more competitive profile and earnings capacity. Actions
in recent years to reduce costs and improve productivity will also
continue to benefit performance.

At the same time, the CFR reflects the single-site location,
modest scale of the company (2.5 million tons produced in the year
ended March 31, 2014) and limited customer base. The rating also
considers ESA's greater dependency on predominately commodity
grades of steel. Although ESA has some value added steel
production, plate shipments have only represented about 14% on
average in recent years. Consequently, the ability to achieve and
sustain lower cost levels is critical to enhanced earnings
capability

Under Moody's loss given default methodology, the Ba2 rating on
the ABL revolver reflects its superior position in the capital
structure and the expectation of significant recovery given the
first priority claim on receivables and inventory among other
current assets. The Ba3 rating on both the term loan and senior
secured notes, which are secured principally by plant, property
and equipment and other non- current assets and have a second lien
on the collateral securing the ABL revolver, has a similarly good
recovery position in the debt waterfall although not as strong as
the ABL revolver facility. The ABL facility has a second lien on
the collateral securing the term loan and the senior secured
notes. The B3 rating on the 3rd lien secured notes reflects the
subordination of these instruments to a considerable amount of
other secured debt and the expectation of a considerable loss in
value in a default scenario. The ABL revolver, term loan and
secured notes benefit from the loss absorption capacity of ESA's
junior secured debt, as well as pension obligations and accounts
payable.

The stable outlook reflects Moody's expectation that the ESA will
be able sustain an improved operating performance and debt
protection metrics given its more competitive cost structure and
the reduced level of debt in its capital structure. The outlook
also assumes that steel production levels and prices will evidence
less volatility over the next twelve to eighteen months than
experienced in recent years.

Given the single site location and cyclical nature inherent in the
steel industry, upward rating movement is unlikely over the next
twelve to eighteen months. However, should the company be able to
sustain leverage, as measured by the debt/EBITDA ratio of no more
than 4x and EBIT/interest of at least 3.5x, positive rating
momentum could result. Downward rating pressure would arise should
debt/EBITDA be sustained above 5x or EBIT/interest be less than
3x.

Headquartered in Sault Ste. Marie, Ontario, Canada, ESA is an
integrated steel producer. Approximately 80% to 85% of ESA's sales
are sheet products with plate products accounting for the balance.
For the 12 months ending December 31, 2013, ESA generated revenues
of C$1.8 billion.

The principal methodology used in this rating was Global Steel
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.


ESSAR STEEL: S&P Assigns Prelim. 'B+' Rating on Proposed Sr. Debt
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its
preliminary 'B+' issue-level rating and '1' recovery rating to
Essar Steel Algoma Inc.'s (ESA) proposed senior secured revolving
asset-based loan (ABL), term loan, and notes.  A '1' recovery
rating indicates S&P's expectation of very high (90%-100%)
recovery in its default scenario.  Standard & Poor's also assigned
its preliminary 'B-' issue-level rating and '4' recovery rating to
the company's proposed junior secured notes.  A '4' recovery
rating indicates S&P's expectation of average (30%-50%) recovery
in the event of default (in the lower half of the recovery range).
All other ratings are unchanged.

The ratings will remain preliminary until the proposed debt
refinancing (US$975 million), equity injection  from Essar Global
Fund Ltd. (US$240 million), and sale of ESA's port facilities
(US$166 million) are completed, and all existing debt associated
with the restructuring is retired.  At that point, S&P expects to
raise the long-term corporate credit rating on ESA to 'B-' from
'SD' (selective default), and assign a stable outlook, once the
company emerges from creditor protection with a new capital
structure.

ESA mainly manufactures flat-rolled carbon steel, which makes up
about 80% of total shipments and competes in cyclical and capital-
intensive end markets.  A large share of its steel production is
commodity hot-rolled sheet, which limits differentiation from
competitors.

"The preliminary ratings on ESA reflect our expectation for very
high recovery prospects for the proposed senior secured
debtholders in our simulated default scenario," said Standard &
Poor's credit analyst Jarrett Bilous.  In S&P's view, the
refinancing will result in a reduction in the company's leverage
and is necessary to facilitate the completion of its restructuring
and emergence from creditor protection.  "The expected 'B' long-
term corporate credit rating on the company primarily reflects our
view of the company's prospective highly leveraged financial risk
profile and vulnerable business risk profile," Mr. Bilous added.


FERROUS MINER: Files for Chapter 11 in Delaware
-----------------------------------------------
Ferrous Miner Holdings, Ltd., and Global NAPs, Inc., sought
Chapter 11 protection in Delaware (Bankr. D. Del. Case Nos.
14-12343 and 14-12344) on Oct. 14, 2014, without stating a reason.

Ferrous Miner and Global NAPs each estimated $10 million to $50
million in assets and $50 million to $100 million in debt.

The list of 20 largest unsecured claims against Ferrous Miner
includes a $35.7 million claim by Verizon New England Inc. on
account of a judgment and a $5.2 million claim by Southern New
England Telephone Company also on account of a judgment.  Ferrous
Miner says it cannot verify the accuracy of the amounts claimed by
creditor as the supporting information remains in the receiver's
sole possession.

The Debtors are represented by Michael Jason Barrie, Esq., at
Benesch Friedlander Coplan & Aronoff LLP.

Frank T. Gangi, the sole director and 100% owner of the Debtors,
signed the bankruptcy petitions.


FLINTKOTE COMPANY: Insurer Freed From Asbestos Arbitration
----------------------------------------------------------
The Flintkote Company, one of the nation's former major supplier
of asbestos-based products, filed a motion to compel arbitration
on a theory of equitable estoppel against Aviva PLC, a non-
signatory to the agreement containing the arbitration clause at
issue.  Aviva appeals a district court's order compelling
arbitration and denying as moot Aviva's motion to dismiss or
transfer.  Applying Delaware law, the U.S. Court of Appeals for
the Third Circuit concluded that Aviva is not equitably bound to
arbitrate on these facts.  Accordingly, the Third Circuit reversed
the District Court's order insofar as it compels arbitration, and
vacated the order to the extent that it denies as moot the motion
to dismiss or transfer.

"The record does not contain clear and convincing evidence that
Aviva embraced the Wellington Agreement by directly benefitting
from that agreement, consistently seeking to enforce that
agreement's provisions for Aviva's benefit, or suing to enforce
rights ostensibly arising under that agreement," the panel's
opinion states, Law360 related.  "The district court thus erred in
granting Flintkote's motion to compel arbitration on this basis,"
Law360 further related.

The case is FLINTKOTE COMPANY, v. AVIVA PLC, formerly known as
Commercial Union Assurance Company Ltd., Appellant, NO. 13-4055
(3d. Cir.).  A full-text copy of the Third Circuit's Decision
dated Oct. 9, 2014, is available at http://is.gd/xAHip1from
Leagle.com.

Michael P. Kelly, Esq., Katharine L. Mayer, Esq., McCarter &
English, LLP, Wilmington, DE Counsel for Appellee.

                    About The Flintkote Company

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

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

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

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

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


FREE LANCE-STAR: Fredericksburg Land Goes for $2.8 Million
----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that VA Newspaper Debtor Co., f/k/a Free Lance-
Star, will sell its 1.42-acre property in Fredericksburg,
Virginia, to Thomas J. Wack for about $2.8 million, after no other
bids were received for the property.  According to the report, net
proceeds of the sale go to Sandton's DSP Acquisition LLC, which
bought substantially all the company's assets in June.

               About The Free Lance-Star Publishing

The Free Lance-Star Publishing Co. of Fredericksburg, Va., is a
publishing, newspaper, radio and communications company based in
Fredericksburg, Virginia and owned by the family of Josiah P. Rowe
III.  FLS's single, seven-day a week newspaper, The Free Lance-
Star was first published in 1885 when a group of local
Fredericksburg merchants and businessmen created the paper to
serve the news and advertising needs of the community.  FLS also
owns radio stations WFLS-AM, FLS-FM, and WVBX.  FLS owns the
community and news portal http://www.fredericksburg.com/

FLS filed a Chapter 11 bankruptcy petition (Bankr. E.D. Va. Case
No. 14-30315) in Richmond, Virginia, on Jan. 23, 2014.  William
Douglas Properties, L.L.C., a related entity that owns a portion
of the land pursuant to which FLS operates certain aspects of its
business, also sought bankruptcy protection.

Judge Keith L. Phillips was initially assigned to the cases, but
the cases were reassigned to Judge Kevin R. Huennekens on the
Petition Date.

The Debtors have tapped Lynn L. Tavenner, Esq., and Paula S.
Beran, Esq., at Tavenner & Beran, PLC, as counsel; and Protiviti,
Inc., as financial advisor.

The U.S. Trustee for Region 4 appointed three members to the
official committee of unsecured creditors.

                        *     *     *

Judge Huennekens will hold a hearing on Nov. 20 to consider
approval of the liquidation plan.  Creditors have until Nov. 13 to
cast their votes on the plan.


GBG RANCH: Court Okays LHP Holdings as Real Estate Broker
---------------------------------------------------------
GBG Ranch Ltd. sought and obtained permission from the U.S.
Bankruptcy Court for the Southern District of Texas to employ LHP
Holdings, LLC, dba LP Properties Realty, as the exclusive broker
for the estate.

As broker, LHP Holdings is expected to provide these services:

   a. Prepare marketing materials and/or offering packages to be
      used in soliciting prospective purchasers for the Ranches;

   b. Erect size appropriate signage on the Ranches; and

   c. Locate, qualify, and furnish potential purchasers of the
      Ranches to the Debtor.

The Debtor will pay for LHP Holdings' services in this manner:

    A. Fixed-commission pursuant to 11 U.S.C. Sec. 328 in the
       amount of 4% of the total consideration from a sale of a
       parcel of property where the higher bidder on a parcel of
       property closes pursuant to the Bid Procedures order and
       the buyer is represented by a broker or agent.

    B. Fixed-commission pursuant to 11 U.S.C. Sec. 328 in the
       amount of 21/2% of the total consideration where the high
       bidder on a parcel of property closes pursuant to the Bid
       Procedures Order and the buyer is not represented by a
       broker or agent.

Louis H. Pellegrin, president of LHP Holdings, assures the Court
that his Firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

LHP Holdings can be reached at:

         Louis H. Pellegrin
         LHP Holdings, LLC
         dba LP Properties Realty
         1616 Guerrero
         Laredo, Texas 78043
         Tel: 956-712-1975
         Fax: 956-726-6990
         E-mail: lpproperties@earthlink.net

                      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: Guillermo Benavides Seeks Case Dismissal
---------------------------------------------------
Guillermo Benavides filed a motion with the U.S. Bankruptcy Court
for the Southern District of Texas seeking the dismissal of the
Chapter 11 case of GBG Ranch, Ltd.

Guillermo Benavides says that the undisputed facts show that the
Debtor is neither insolvent nor unable to pay its debts as they
become due.  He adds that the filed schedules of assets and
liabilities state under oath that the Debtor's assets greatly
exceed its liabilities -- assets total more than $50 million,
while alleged liabilities are less than $10 million.  He adds that
at the Sec. 341 Meeting of Creditors, the Debtor testified that it
is able to pay its current and regular operating expenses.

The Debtor further indicated that it filed for bankruptcy
protection because it currently owes a related entity controlled
by the same general partner as the Debtor $500,000 in litigation
costs advanced to it by such entity and because it will be unable
to pay its regular operating expenses as well as future litigation
costs

The Debtor's pretext for seeking bankruptcy protection is
contrived, Guillermo complains.  "In order for the Debtor to owe
the related entity the past litigation costs as stated, the Debtor
would have to ignore the prior agreement between all of the
related Benavides Family Entities to share the litigation costs on
a percentage basis.  Pursuant to the inter-company agreement, the
Debtor would only owe thirty percent of the funds advanced after
adjustments for the disproportionate amount of funds that the
Debtor itself has advanced."

The Debtor's contention that it will not be able to pay its normal
operating expenses in addition to future litigation costs is
equally contrived, Guillermo contends.

Guillermo relates that in reality, the Debtor filed its bankruptcy
proceeding, not because the Debtor is bankrupt, but because the
Debtor seeks a new venue for the related adversary proceeding
created by the removal of the state court litigation.  As a
result, he says, this bankruptcy filing is the continuation of a
pattern of Guero Benavides's abuse of procedural tools to attempt
to gain an unfair advantage over his brother.

Guillermo continues to say that after an unsuccessful attempt to
recuse the State District Judge presiding over the underlying
family disputes, Guero Benavides has now used his vote, and the
proxy vote of his 88-year old mother, to single-handedly authorize
this bankruptcy filing, and to strip Memo Benavides and the
Benavides brothers' nephew, Will Benavides, of the decision-making
power that Memo Benavides and Will Benavides had exercised for
years to successfully grow the businesses and provide for members
of their family.

Guillermon contends that the reason for this bankruptcy filing was
to create the automatic stay, interrupt and delay the injunction
hearing scheduled in the Consolidated Lawsuit before Judge Lopez,
provide a means to remove the Consolidated Lawsuit from the
jurisdiction of Judge Lopez, and to remove the agreed cap on the
payment of attorneys fees by the Debtor.

                     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.
Leslie M. Luttrell and the Luttrell + Villareal Law Group serve as
special counsel.


GLOBAL COMPUTER: U.S. Trustee Objects to McGuireWoods Employment
----------------------------------------------------------------
Judy A. Robbins, United States Trustee for Region 4, says she
objects to the employment of McGuireWoods, LLP, as attorney for
Global Computer Enterprises, Inc., dba GCE, arguing that:

   1. The application to approve the employment of McGuireWoods
      failed to disclose all the Attorney's connections with the
      debtor as required by Rule 2014(a) of the Federal Rules of
      Bankruptcy Procedure; and

   2. McGuireWoods is not a "disinterested person" as defined by
      the Bankruptcy Code and has an actual conflict of interest.

On information and belief, McGuireWoods is currently representing
the Debtor's sole shareholder, Ray Muslimani.  The U.S. Trustee
points out that this representation of the Debtor's sole
shareholder was disclosed at the initial debtor's conference but
the nature of the representation has not been disclosed.

                    About Global Computer

Global Computer Enterprises, Inc., dba GCE, is a cloud-based
"software as a service" provider, commonly referred to as a
"SAAS," offering financial management solutions primarily to
executive departments of the federal government and independent
federal government agencies.  GCE sought protection under Chapter
11 of the Bankruptcy Code (Case No. 14-13290, Bankr. E.D. Va.) on
Sept. 4, 2014.  The case is assigned to Judge Robert G. Mayer.

The Debtor's counsel is David I. Swan, Esq., at McGuirewoods LLP,
in McLean, Virginia.  The Debtor's financial advisor is Weinsweig
Advisors.  The petition was signed by Mike Freeman, interim chief
operating officer.

Judge Mayer designated Mike Freeman to perform duties imposed upon
GCE by the Bankruptcy Code.


GLOBAL COMPUTER: U.S. Gov't. Objects to McGuireWoods Employment
---------------------------------------------------------------
The United States of America, a creditor in the bankruptcy case of
Global Computer Enterprises, Inc., dba GCE, objects to the
retention of McGuireWoods LLP as counsel to the extent that it
seeks to simultaneously represent the Debtor and the Debtor's
individual officers and creditors.

The United States objects to the retention of attorney McIntrye or
any other lawyer at the Firm that intends to represent the
Debtor's President, CEO, and sole shareholder, Muslimani.

The United States asserts that the Debtor has a fiduciary duty to
all creditors, which includes the obligation to ensure that only
legitimate claims are paid from estate assets.  Pursuing this
objective, the Debtor must investigate and, whenever possible,
dispute the validity of creditors' claims.  The United States
notes that Muslimani's interest, on the other hand, is to ensure
that the Debtor indemnifies him and pays his ongoing legal
expenses from estate assets to the greatest extent possible.
Thus, the United States points out, McGuireWoods cannot advance
the Debtor's interests without harming Muslimani's.

In the same thread, neither the Court nor any of the creditors can
have confidence that McGuireWoods will independently evaluate
Muslimani's alleged indemnification claim when it also also
represents Muslimani, the United States argues.

                     About Global Computer

Global Computer Enterprises, Inc., dba GCE, is a cloud-based
"software as a service" provider, commonly referred to as a
"SAAS," offering financial management solutions primarily to
executive departments of the federal government and independent
federal government agencies.  GCE sought protection under Chapter
11 of the Bankruptcy Code (Case No. 14-13290, Bankr. E.D. Va.) on
Sept. 4, 2014.  The case is assigned to Judge Robert G. Mayer.

The Debtor's counsel is David I. Swan, Esq., at McGuirewoods LLP,
in McLean, Virginia.  The Debtor's financial advisor is Weinsweig
Advisors.  The petition was signed by Mike Freeman, interim chief
operating officer.

Judge Mayer designated Mike Freeman to perform duties imposed upon
GCE by the Bankruptcy Code.


GROVE ESTATES: Susquehanna Bank Balks at Cash Collateral Use
------------------------------------------------------------
Secured creditor Susquehanna Bank asks the Bankruptcy Court to
deny Grove Estates, L.P.'s motion for authorization to use cash
collateral.

Susquehanna, which claims to be owed in excess of $11,000,000,
says:

   1. The Debtor has not submitted a budget stating either the
income or expenses necessary to operate its alleged land
development business in York, Pennsylvania;

   2. The Debtor has not proposed a plan of reorganization, nor
has it filed any schedules which would allow Susquehanna or the
Court to confirm Debtor's financial position or its need for cash
collateral;

   3. The Debtor has been litigious in its dealings with
Susquehanna; and

   4. The Debtor proposed to use cash collateral without providing
for any of the payments associated with the obligations which
encumber such assets.

As reported in the TCR on Oct. 1, 2014, the Debtor has sought
authorization to use cash collateral securing its prepetition
indebtedness so it can meet its operating expenses.

Susquehanna is the first position lien holder of a security
interest in the Debtor's real estate properties referred to as
"Grove Estates Subdevelopment."  Susquehanna is also the first
position lien holder of a security interest in the Debtor's real
estate located at 2394 Arlington Road, in York, Pennsylvania.
Moreover, Susquehanna is the first position lien holder of a
security interest in, among other things, the Debtor's inventory,
chattel paper, accounts, accounts receivable, equipment, contract
rights, documents, deposit accounts, furniture, fixtures,
vehicles, instruments, leasehold improvements, machinery and
general intangibles.

M&T is the first position lien holder of a security interest in
the Debtor's real estate properties referred to as "Cherry Tree
Development."

Susquehanna is represented by:

         Iles Cooper, Esq.
         WILLIAMSON, FRIEDBERG & JONES, LLC
         Ten Westwood Road
         Pottsville, PA 17901
         Tel: (570) 622-5933

                       About Grove Estates

Grove Estates, LP, an operator of land development business in
York, Pennsylvania, sought protection under Chapter 11 of the
Bankruptcy Code on Sept. 23, 2014 (Case No. 14-04368, Bankr. M.D.
Pa.).  The case is assigned to Judge Robert N Opel II.

The Debtor's counsel is Robert L Knupp, Esq., at Smigel, Anderson
& Sacks, LLP, in Harrisburg, Pennsylvania.  The Debtor's
accountant is Francis C. Musso, CPA, MPA, P.C.


GT ADVANCED: Berger & Montague Files Securities Class Action
------------------------------------------------------------
(PR/Joy)

Berger & Montague, P.C. on Oct. 16 disclosed that it has filed a
securities class action lawsuit against certain of the executive
officers of GT Advanced Technologies Inc.  The action, which is
captioned Impagliazzo, et al. v. Gutierrez, 1:14-cv-00458
(D.N.H.), asserts claims under the Securities Exchange Act of 1934
on behalf of investors in GT securities during the period of
November 5, 2013 to 9:40 am Eastern Standard Time on October 6,
2014, inclusive.

The Complaint alleges that during the Class Period defendants made
statements which misrepresented and/or concealed GT's cash
position, expected cash position and revenues, ability to meet
certain milestones under a critical agreement with Apple for the
production of sapphire material, and the Company's development of
a facility that would produce the sapphire material.  These false
and misleading statements were made to the market in public
statements and in the offering materials for GT's offerings of
3.00% Convertible Senior Notes due 2020 and public offering of
common stock, both conducted on or around December 4, 2013.  On
October 6, 2014, the Company suddenly reversed course and
announced that it was experiencing a liquidity crisis and filed
for bankruptcy in the United States Bankruptcy Court for the
District of New Hampshire.  On this news, the price of GT stock
declined from $11.05 per share to $0.80 per share, or almost 93%.
Similarly, the price of the Company's 3.00% Convertible Senior
Notes due 2020, which had a face value of $1,000 per note,
declined from $1,083 per note to $315 per note, or almost 71%.

If you wish to serve as Lead Plaintiff for the Class, you must
file a motion with the Court no later than December 8, 2014.  This
class action case involves all persons who:

purchased GT's publicly traded securities between November 5, 2013
and 9:40 am Eastern Standard Time on October 6, 2014;
purchased securities in or traceable to the Company's public
offering of $214 million in principal amount of 3.00% Convertible
Senior Notes due 2020 conducted on or around December 4, 2013;
purchased securities in or traceable to GT's public offering of
9,942,196 shares of its common stock conducted on or around
December 4, 2013.

Any member of the proposed Class may move the Court to serve as
Lead Plaintiff through counsel of their choice, or may choose to
do nothing and remain a member of the proposed Class.

Based in Philadelphia, PA, Berger & Montague, P.C. --
http://www.bergermontague.com-- represents plaintiffs in complex
and class action litigation and is consistently ranked as one of
the top plaintiffs' law firms in the United States by many
publications.  Berger & Montague, P.C. has extensive experience
representing investors, homeowners, consumers and borrowers in
class action litigation, and the firm has played lead roles in
major cases for over 40 years resulting in recoveries of many
billions of dollars for their clients and the classes they
represent.

                About GT Advanced Technologies

GT Advanced Technologies Inc. -- http://www.gtat.com/-- is a
diversified technology company producing advanced materials and
innovative crystal growth equipment for the global consumer
electronics, power electronics, solar and LED industries.
Headquartered in Merrimack, New Hampshire, GT is a publicly held
corporation whose stock is traded on NASDAQ under the ticker
symbol "GTAT."

As of June 28, 2014, the GTAT Group's unaudited and consolidated
financial statements reflected assets totaling $1.5 billion and
liabilities totaling $1.3 billion.  As of Sept. 29, 2014, GTAT had
$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and 8 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code (Bankr. D. N.H. Lead Case No. 14-11916).
GT says that it has sought bankruptcy protection due to a "severe
liquidity crisis."

The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP as
attorneys and Kurtzman Carson Consultants LLC as claims and
noticing agent.


HALIFAX REGIONAL: Moody's Affirms Ba3 Rating on Series 1998 Bonds
-----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 rating assigned to
Halifax Regional Medical Center's Series 1998 bonds issued by the
North Carolina Medical Care Commission. The outlook has been
revised to stable from negative.

Summary Ratings Rationale

Affirmation of the Ba3 rating is attributable to Halifax's small
size, below average financial performance, and location in a
challenging market with a weak payor mix.

The outlook has been revised to stable following recent
improvement in financial performance and maintenance of stable
balance sheet metrics.

Strengths

-- Halifax's operating performance improved significantly in FY
    2014, following numerous initiatives to cut expenses and
    improve productivity. Moody's note, however, that operating
    revenue continues to fall due to patient volume pressure.

-- Halifax's cash position has remained stable over the last few
    years, and although small from an absolute perspective,
    liquidity is sufficient with 107 days cash on hand and 118%
    cash to direct debt, based on eleven months FY 2014. Moody's
    notes that the cash position has remained steady in part due
    to low capital spending and debt financing of other projects.

-- North Carolina began a provider fee program in FY 2012, which
    is providing approximately $3 million in net annual benefit
    to Halifax.

Challenges

-- An acquisition by Novant Health (A1 stable) that had been
    contemplated has been called off. The acquisition would have
    provided access to capital and a much stronger parent. Novant
    will continue to work with Halifax and provide management
    services.

-- Through eleven months FY 2013, inpatient volumes are down
    5.5% and although some volume has moved to observation
    status, total volumes are also down. Patient volume declines
    are contributing to lower operating revenue, which has
    declined approximately 1% in FY 2014. Although Halifax has an
    improved operating cash flow margin through eleven months FY
    2014, Moody's believes the long term trend of declining
    volumes and the resulting revenue pressure, will make it
    increasingly difficult to achieve consistent operating cash
    flow margins.

-- Small absolute size of the hospital makes it susceptible to
    physician departures, which have contributed to the variation
    in operating performance and patient volume fluctuations

-- High exposure to Medicare and Medicaid, comprising a combined
    73% of patient volume in FY 2013

Outlook

Revision in the outlook to stable reflects improved operating
performance and stable balance sheet metrics.

What Could Make The Rating Go UP

Over the long term, an upgrade would be considered if Halifax
improves operating performance and achieves stability in patient
volumes.

What Could Make The Rating Go DOWN

The rating could be downgraded if Halifax's operating performance
deteriorates from current levels, or if cash balances decline.
Additional factors that could result in a downgrade include
material capital or borrowing plans that must be funded solely by
Halifax, or loss of key physicians.

Rating Methodology

The principal methodology used in this rating was Not-for-Profit
Healthcare Rating Methodology published in March 2012.


HBC HOLDINGS: Moody's Revises $100-Mil. Term Loan Rating to Caa1
----------------------------------------------------------------
Moody's Investors Service revised the rating on HBC Holdings LLC's
(d.b.a. Hardware Holdings) $100 million first lien senior secured
term loan due 2020 to Caa1 from Caa2. At the same time, Moody's
affirmed the company's Caa1 Corporate Family Rating (CFR) and
Caa1-PD Probability of Default Rating. The rating outlook is
stable.

The upgrade of the first lien term loan rating to Caa1 reflects
the change in the company's financing structure in connection with
the acquisition of Jones Stephens, an Alabama-based specialty
plumbing products distributor, and repayment of Hardware Holdings'
prior debt. While the total debt amount in the new structure is
unchanged, the inclusion of a second lien instrument provides loss
absorption cushion, which results in a rating uplift on the $100
million first lien senior secured term loan.

The revised capital structure consists of a $100 million first
lien senior secured term loan due March 2020 (originally $155
million maturing in 2021), a new $55 million second lien term loan
due September 2020, and a $40 million asset-based revolving credit
facility due 2019 (unchanged). The first lien term loan has a
first priority interest in substantially all tangible and
intangible assets (other than the ABL collateral) of the borrowers
and the guarantors and a second priority interest in working
capital assets (unchanged). The ABL facility continues to benefit
from the first priority interest in working capital assets;
however, its lien on the term loan collateral is subordinated to
the liens held by the term loan lenders. The second lien term loan
is secured on a second priority basis by the term loan collateral
and on a third priority basis by the ABL collateral. Moody's does
not believe the increase in interest expense due to the inclusion
of the higher-rate second lien term loan is material enough to
affect the company's CFR.

Moody's took the following rating actions:

Issuer: HBC Holdings LLC (along with co-issuers):

  $100 million first lien senior secured term loan due 2020,
  revised to Caa1 (LGD4) from Caa2 (LGD4);

Issuer: HBC Holdings LLC:

  Corporate Family Rating, affirmed at Caa1;

  Probability of Default Rating, affirmed at Caa1-PD;

  The rating outlook is stable.

Ratings Rationale

The Caa1 CFR reflects the company's small size and scale compared
to peers, acquisition driven growth strategy and the associated
potential integration and synergy realization risks, very high pro
forma debt leverage, low operating margins inherent to the
distribution business model, limited time in the company's current
configuration, and potential long-term shareholder-friendly
actions given the private equity ownership. Moody's estimates pro
forma debt-to-EBITDA at June 30, 2014 to be approximately 7.0x
(incorporating Moody's standard adjustments), taking into
consideration the improving run rate performance of Handy
Holdings, which was acquired in 2013. Handy Holdings' operating
losses are narrowing, but its very low operating margins are
dilutive to Hardware Holdings' overall profitability. The
company's rating is supported by the variety of its product
offerings and distribution channels, solid product sourcing
capabilities, and low customer concentration. Additionally, the
rating is supported by the positive trends in the repair and
remodeling market and the expected cost savings to be achieved
through consolidation and procurement initiatives in connection
with recent and contemplated acquisitions.

The company has an adequate liquidity profile, supported by the
$40 million ABL revolving credit facility expiring in 2019, $17
million of which was available after closing of the transaction.
However, liquidity is constrained by limited cash balances and
Moody's expectation for low free cash flow generation, as well as
by maximum permitted leverage covenants in the first and second
lien term loans that include quarterly step-downs.

The stable rating outlook reflects Moody's expectation for
successful integration of recent and contemplated acquisitions,
modest EBITDA improvement through cost synergy realizations and
associated declines in adjusted debt leverage in the intermediate
term.

The ratings could be pressured if cost synergy achievements take
longer than anticipated, if product volumes and revenues decline,
causing earnings to weaken such that leverage remains elevated for
an extended period of time, or if liquidity deteriorates.

The ratings could be upgraded if the company builds size and
scale, improves profitability and earnings through synergy
realizations such that debt-to-EBITDA leverage declines and is
sustained below 6.0x, and generates positive free cash flow, while
successfully integrating acquisitions and maintaining sufficient
liquidity.

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.

Hardware Holdings, founded in 1971 and headquartered in Cranbury,
New Jersey, is a multi-channel distributor of hardware, plumbing
and household products. The company's product offering consists of
over 75,000 SKUs and distribution channels include local retail
stores, industrial suppliers, national retailers, food and drug
stores. In 2012, Hardware Holdings was acquired by Littlejohn &
Co. (the sponsor). The company's pro forma revenues for the LTM
period ending June 30, 2014 including recent and contemplated
acquisitions were approximately $440 million.


HEALTH NET: Fitch Affirms 'BB+' IDR & Revises Outlook to Positive
-----------------------------------------------------------------
Fitch Ratings has affirmed Health Net Inc.'s 'BB+' Issuer Default
rating, 'BB' senior unsecured notes rating and the 'BBB' Insurer
Financial Strength (IFS) ratings of its insurance company
subsidiaries.  The Rating Outlook is revised to Positive from
Stable.

KEY RATING DRIVERS

The revised Rating Outlook on Health Net reflects improved and
more consistent earnings and Fitch's expectation that these trends
will continue through the balance of 2014.  The rating also
considers Health Net's overall 'medium' market position and
size/scale features, which typically span the 'A' and 'BBB' IFS
rating categories.  Further, most of Health Net's capitalization
metrics are comparable with Fitch's median guidelines for the 'A'
IFS rating category or higher.

Profitability of individual business sourced on exchanges
established through the Affordable Care Act (ACA) remains a
concern.  Further, Fitch is monitoring the impact of Health Net's
growing Medicaid enrollment, which is typically viewed as lower
margin and lower credit-quality than commercial business.

Health Net's earnings in the first half of 2014 remained
consistent with the improvement seen during 2013.  The company
reported EBITDA margin of 3% during the first six months of 2014,
which is consistent with Fitch's 'BBB' IFS rating category
guideline.  The company's return on average capital was 13.4% in
the first half of 2014.  The return ratio was elevated by a one-
time tax benefit of nearly $73 million from the loss on the stock
of a subsidiary.

Health Net appears to have successfully repositioned its
commercial business and has reported favorable experience in its
growing Medicaid business.  Importantly, earnings disruptions that
created material volatility in past years were absent from 2013
and year-to-date 2014 results.

Fitch considers Health Net's market position consistent with its
'medium' categorization given the company mix of commercial,
Medicaid, and Medicare enrollment and sizeable market share in
California, and expanding presence in three other Western states.
Health Net's size and scale metrics are also considered consistent
with Fitch's 'medium' categorization when measured by medical
membership of 5.8 million individuals and total revenue of
approximately $11 billion for the full year 2013.

Health Net's year-end 2014 NAIC RBC ratio is expected to be near
200% of the company action level.  Management targets an NAIC RBC
ratio of 200%, excluding Health Net Community Solutions, for its
underwriting subsidiaries.  This RBC ratio remains consistent with
Fitch's median guideline of 175% for the 'BBB' IFS rating
category.

The company's ratio of debt to EBITDA was 1.4x and operating
EBITDA to interest expense was 12.4x during the first half of
2014.  Both ratios were better than Fitch's median guidelines for
the current rating category.  Fitch does not expect Health Net to
materially change its capitalization profile and a significant
increase in financial leverage would put downward pressure on
ratings.

RATING SENSITIVITIES

Key ratings triggers that could lead to an upgrade for Health Net
include:

   -- Continuation of current operating results, specifically,
      EBITDA margin exceeding 3% or greater and return on average
      capital in the high single digits;

   -- Maintenance of consolidated Risk-Based Capital (RBC) above
      200% of the Company Action Level (CAL) and debt-to-EBITDA
      below 2.5x;

   -- Flat-to-favorable reserve development.

Key ratings triggers that could lead to downgrade for Health Net
include:

   -- Poor earnings results measured by EBITDA margin below 1%;

   -- A significant decline in consolidated RBC below 175% of the
      CAL or debt-to-EBITDA greater than 3.0x.

Fitch has affirmed these ratings with a Positive Rating Outlook:

Health Net Inc.

   -- Long-term IDR at 'BB+';
   -- 6.375% senior notes due June 2017 at 'BB'.

Health Net Of California, Inc.
Health Net of Arizona, Inc.
Health Net Health Plan of Oregon, Inc.

   -- IFS at 'BBB'.


HEENAN BLAIKIE: Former Employees Sue Defunct Law Firm
-----------------------------------------------------
Legal assistants and lawyers demand severance from defunct firm
Heenan Blaikie LLP as ex-partners continue to sift through assets
and liabilities, Daily Bankruptcy Review reported, citing Canada's
Globe and Mail.  According to the DBR, citing Globe and Mail,
eight months after the surprise collapse of Heenan Blaikie, the
defunct national law firm is facing lawsuits from former legal
assistants, lawyers and other ex-employees demanding hundreds of
thousands of dollars in severance pay and punitive damages.


HOA RESTAURANT: S&P Withdraws 'B-' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its ratings on
HoA Restaurant Group LLC, including its 'B-' corporate credit
rating.  At the time of the withdrawal, the outlook was stable.


HOLY HILL: Trustee Seeks to Extend Plan Filing Deadline to Jan. 9
-----------------------------------------------------------------
Richaed J. Laski, the duly appointed Chapter 11 Trustee in the
bankruptcy case of Holly Hill Community Church, aka Holy Hill
Community Church, filed a motion with the U.S. Bankruptcy Court
for the Central District of California for an order extending the
exclusive period in which only the Trustee may file a plan through
until Jan. 9, 2014.  The Trustee also seeks to extend the
exclusive period by which it can solicit acceptances for that plan
through until April 9, 2014.

The Trustee notes that since his appointment, he and his general
bankruptcy counsel have been occupied with matters of immediate
importance to the Debtor's Chapter 11 case.  The Trustee adds that
he has also been busy investigating the various pending state
court actions involving the Debtor and complying with the Chapter
11 bankruptcy administrative requirements and pursuing discussions
with potential buyers and DIP lenders to maximize the value of the
Debtor's estate for the benefit of all interested parties.

As a result, the Trustee has not had sufficient time or resources
to devote to formulating and preparing a plan of reorganization at
this time.

                        About Holy Hill

Holly Hill Community Church, aka Holy Hill Community Church, a
protestant church in Los Angeles, filed for Chapter 11 protection
(Bankr. C.D. Cal. Case No. 14-21070) on June 5, 2014.  Holly Hill,
a California non-profit corporation incorporated for the purposes
of conducting religious activities as a protestant Christian
church, disclosed $20 million in assets and $12 million in debt.
John Jenchun Suh, the pastor and CEO of the church, signed the
bankruptcy petition.  W. Dan Lee of the Lee Law Offices, in Los
Angeles, is representing the Debtor as counsel.  Judge Julia W.
Brand presides over the case.

Richard J. Laski has been appointed to serve as Chapter 11 trustee
in the Debtor's case.  The Trustee has tapped Arent Fox LLP to
serve as his bankruptcy counsel, and Wilshire Partners of CA, LLC,
as accountant.


HOUSTON REGIONAL: Files Ballot Tabulation on Amended Ch. 11 Plan
----------------------------------------------------------------
Houston Regional Sports Network, L.P. filed with the United States
Bankruptcy Court for the Southern District of Texas a Ballot
Tabulation setting forth the compilation of valid ballots
submitted on the Amended Chapter 11 Plan of Reorganization Dated
September 4, 2014.

The Ballot Tabulation demonstrates that:

   -- Class 1 - Priority Claims, Class 4 - Trade Claims,
      Class 6 - Subordinated Claims and Class 7 - Limited
      Partnership Interests have voted to accept the Plan;

   -- Class 5 - Unsecured Claims has voted to accept the Plan in
      number.  The amount, for voting purposes, of the
      Class 5 - Unsecured Claims of the Astros Entities, Rockets
      Entities, and Comcast Entities is subject to determination
      by the Court; and

   -- Class 2 - Comcast Lender Secured Claim has voted to reject
      the Plan.

A copy of the Ballot Tabulation is available for free at:

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

              About Houston Regional Sports Network

An involuntary Chapter 11 bankruptcy petition was filed against
Houston Regional Sports Network, L.P. d/b/a Comcast SportsNet
Houston (Bankr. S.D. Tex. Case No. 13-35998) on Sept. 27, 2013.

The involuntary filing was launched by three units of Comcast/NBC
Universal and a television-related company.  The petitioners are:
Houston SportsNet Finance LLC, Comcast Sports Management Services
LLC, National Digital Television Center LLC, and Comcast SportsNet
California, LLC.

The petitioning creditors have filed papers asking the Bankruptcy
Judge to appoint an independent Chapter 11 trustee "to conduct a
fair and open auction process for the Network's business assets on
a going concern basis."

Houston Regional Sports Network is a joint enterprise among
affiliates of the Houston Astros baseball team, the Houston
Rockets basketball team, and Houston SportsNet Holdings, LLC --
"Comcast Owner" -- an affiliate of Comcast Corporation.  The
Network has three limited partners -- Comcast Owner, Rockets
Partner, L.P., and Astros HRSN LP Holdings LLC.  The primary
purpose of Houston Regional Sports Network is to create and
operate a regional sports programming service that produces,
exhibits, and distributes sports programming on a full-time basis,
including live Astros and Rockets games within the league-
permitted local territories.

Counsel for the petitioning creditors are Howard M. Shapiro, Esq.,
at Wilmer Cutler Pickering Hale and Dorr LLP; George W. Shuster,
Jr., Esq., at Wilmer Cutler Pickering Hale and Dorr LLP; Vincent
P. Slusher, Esq., at DLA Piper; and Arthur J. Burke, Esq., at
Davis Polk & Wardwell LLP.

Judge Marvin Isgur presides over the case.

The Network was officially placed into Chapter 11 bankruptcy
pursuant to a Feb. 7 Order for Relief.  It has won approval to
hire Haynes and Boone, Charles A. Beckham, Jr., Esq., Henry
Flores, Esq., Abigail Ottmers, Esq., and Christopher L. Castillo,
Esq., as counsel.  It also hired Conway MacKenzie, Inc., as
financial advisor.

Harry Perrin, Esq., represents Astros owner Jim Crane.  Alan
Gover, Esq., represents the Rockets.

The Astros are represented by Richard B. Drubel, Esq., Colleen A.
Harrison, Esq., and Jonathan R. Voegele, Esq., at Boies, Schiller
& Flexner LLP, in Hanover, NH; and Scott E. Gant, Esq., at Boies,
Schiller & Flexner in Washington, DC.  Comcast Corporation and
NBCUniversal Media, LLC, are represented by Vincent P. Slusher,
Esq., Eli Burriss, Esq., Andrew Mayo, Esq., and Andrew Zollinger,
Esq., at DLA Piper; Arthur J. Burke, Esq., Timothy Graulich, Esq.,
and Dana M. Seshens, Esq., at Davis Polk & Wardwell LLP; and
Howard M. Shapiro, Esq., and Craig Goldblatt, Esq., at Wilmer
Cutler Pickering Hale and Dorr LLP.  Attorney for McLane
Champions, LLC and R. Drayton McLane, Jr., are Wayne Fisher, Esq.,
at Fisher Boyd & Huguenard, LLP.


HOYT TRANSPORTATION: Wants Exclusivity in Plan Filing Thru Nov. 10
------------------------------------------------------------------
Hoyt Transportation Corp. asks the Bankruptcy Court to extend its
exclusive plan filing deadline through Nov. 10, 2014, and its
exclusive solicitation period through January 8, 2015.

The Debtor's fourth extension request will allow time to resolve
outstanding back-pay claims which arose from a new collective
bargaining agreement which resulted from an industry-wide ruling
by the National Labor Relations Board.

                   About Hoyt Transportation

Brooklyn, New York-based Hoyt Transportation Corp. filed a
Chapter 11 petition (Bankr. E.D.N.Y. Case No. 13-44299) on
July 13, 2013, estimating at least $10 million in assets and
liabilities.  The Debtor is represented by Kevin J. Nash, Esq., at
Goldberg Weprin Finkel Goldstein LLP.

Brooklyn-based Hoyt specializes in transportation for children
with disabilities.  Hoyt operated 350 buses until the contract
with the Department of Education expired.


IBCS MINING: Has Until Jan. 26 to Assume or Reject Leases
---------------------------------------------------------
The Bankruptcy Court extended until Jan. 26, 2015, IBCS Mining,
Inc., et al.'s time to assume or reject unexpired leases of non-
residential real property.

                        About IBCS Mining

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

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


IBCS MINING: Has Until Jan. 26 to Propose Chapter 11 Plan
---------------------------------------------------------
The Bankruptcy Court extended IBCS Mining, Inc., et al.'s
exclusive period to propose a Chapter 11 plan until Jan. 26, 2015,
and the period to solicit acceptances for that plan until March
27.

As reported in the TCR on Oct. 8, 2014, the Debtors said that they
have been in negotiations with interested parties concerning the
sale of substantially all of the Debtor's assets.  The Debtors
must close the sale by Dec. 15, 2014.

Absent an extension, the exclusive filing period for the Debtors
will expire on Oct. 27, 2014, and their solicitation period will
expire on Dec. 24.

                        About IBCS Mining

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

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


INTERNATIONAL MANUFACTURING: Panel Hires Joseph & Cohen as Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of International
Manufacturing Group, Inc. seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of California to retain
Joseph & Cohen, P.C. as counsel to the Committee, effective Sept.
3, 2014.

The Committee requires Joseph & Cohen to:

   (a) advise and represent the IMG Committee with respect to
       relevant matters and proceedings in the IMG Case;

   (b) advise and assist the IMG Committee with respect to its
       affairs and duties pursuant to section 1103 of the
       Bankruptcy Code;

   (c) consult with the IMG Trustee, the DSW Trustee, other
       parties in interest and their attorneys and agents as
       necessary during the pendency of the IMG Case;

   (d) prepare on behalf of the IMG Committee necessary motions,
       orders and other legal papers; and

   (e) counsel the IMG Committee with respect to bankruptcy,
       litigation, and other issues arising in or related to the
       IMG Case, and performing such legal services with respect
       thereto as may be necessary and desirable.

As noted in the Joint Engagement Letter, all of Joseph & Cohen's
hourly rates for this engagement will be limited to $495, and no
fees will be billed for net travel time to or from hearings or
meetings attended on behalf of the Committees.

Joseph & Cohen will also be reimbursed for reasonable out-of-
pocket expenses incurred.

David A. Honig, partner of Joseph & Cohen, 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.

Joseph & Cohen can be reached at:

       David A. Honig, Esq.
       JOSEPH & COHEN, P.C.
       1855 Market Street
       San Francisco, CA 94103
       Tel: (415) 817-9200
       E-mail: david@josephandcohen.com

               About International Manufacturing

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

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

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

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

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

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


INT'L MANUFACTURING: Ch.11 Trustee Taps Judge Newsome as Mediator
-----------------------------------------------------------------
The Hon. Robert S. Bardwil of the U.S. Bankruptcy Court for the
Eastern District of California authorized Beverly N. McFarland,
Chapter 11 trustee for International Manufacturing Group Inc., to
appoint retired bankruptcy judge Randal J. Newsome as mediator to
assist parties in interest in negotiating a resolution of their
disputes with respect to IMGF Funding LLC.

The Court also authorized the Chapter 11 trustee to pay the
bankruptcy estate's portion of the mediation fees up to $5,000.

The Debtor told the Court that Judge Newsome has agreed to preside
over the mediation with mediation fees to be capped at $10,000.
The mediation fees will be divided equally between IMGF Funding
and the Debtor.

According to court document, nearly all of the Debtor's scheduled
general unsecured creditors are alleged victims of the Ponzi
scheme, including secured creditor IMGF Funding.  The Debtor is
alleged to have been involved in a massive Ponzi scheme with its
Debtor's president and sole shareholder, Deepal Sunil
Wannakuwatte, channeling in excess of $120 million in investor
funds through Debtor and related entity bank accounts over several
years, and defrauding over one hundred victims in the process,
primarily individuals, corporate entities, and possibly some
financial institutions.

IMGF Funding asserted a security interest in all of the Debtor's
Business assets to secure a prepetition advance of $2,303,000 to
the Debtor in February 2014, based on an unsigned promissory note,
and loan and security agreement.  IMGF Funding also asserted that
it was defrauded by Mr. Wannakuwatte shortly before Mr.
Wannakuwatte was taken into custody on Feb. 21, 2014.

On Feb. 28, 2014, IMGF Funding sued the Debtor and Mr.
Wannakuwatte in the United States District Court for the Eastern
District of California, Case No. 2:14-cv-00583-JAMDAD.  IMGF
Funding obtained a temporary restraining order on March 3, 2014
and preliminary injunction on March 14, 2014 in the District Court
Action.  The Business was shut down for approximately two weeks
resulting from the preliminary injunction suffering irreparable
harm to sales and staff, losing half of its employees.  IMGF
Funding asserted it is entitled to impress a constructive trust
over $564,535 held in the Debtor's accounts and an additional
$723,825 in accounts held by other integrally related entities
that will likely be substantively consolidated into the Debtor in
the near future.

The mediation started on Oct. 14, 2014.

                About International Manufacturing

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

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

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

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

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

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


INVERSIONES ALSACIA: Chile Bus Operator Files U.S. Bankruptcy
-------------------------------------------------------------
Tom Corrigan, writing for Daily Bankruptcy Review, reported that
the Inversiones Alsacia S.A., the public bus operator in Santiago,
Chile, filed for bankruptcy in the U.S. with plans to restructure
$368 million in debt.  According to the report, the company and
several affiliates filed for Chapter 11 protection with a
prepackaged plan -- meaning a sufficient number of creditors have
already approved its restructuring proposal -- in U.S. Bankruptcy
Court in Manhattan.

As previously reported by The Troubled Company Reporter, Alsacia,
together with Express de Santiago Uno S.A. and their subsidiaries
and affiliates, on Sept. 15 disclosed that it has commenced
solicitation of votes for a prepackaged plan of reorganization to
be filed under chapter 11 of the United States Bankruptcy Code.
The solicitation is being carried out pursuant to a disclosure
statement dated September 15, 2014.

Under the terms and conditions of the Plan, qualified holders of
the Company's 8.0% senior secured notes due 2018 will receive (i)
new notes issued by the Company with a principal amount equal to
the aggregate of (a) the principal amount of the Existing Notes
that they hold plus (b) accrued and unpaid interest thereon at a
rate of 8.0% per annum through and including September 30, 2014
and (ii) a cash payment, to be made on the issue date of the New
Notes, in an amount equal to the interest accruing on the
aggregate of the Old Note Amount and the Capitalized Interest
Amount from and including October 1, 2014 through and excluding
the Issue Date at a rate of 8.0% per annum.

The New Notes will have an initial maturity of December 31, 2018,
which may be extended in the event that the Company successfully
obtains extensions of its concessions through at least April 22,
2021.  The New Notes will bear interest at a rate of 8.0% per
annum, which is the same as the interest rate applicable to the
Existing Notes, and will have semi-annual mandatory amortizations
as set forth in the Plan, as well as mandatory redemptions in the
event that the Company generates excess cash.

                          About Alsacia

Alsacia, together with its affiliate, Express de Santiago Uno
S.A., are collectively the largest operator in the Transantiago
Transportation System, transporting approximately 800,000
passengers every day, throughout 35 communities in Santiago,
Chile, which accounts for more than 30% of the passengers in
Transantiago.

Alsacia and Express belong to an international holding company
with interests in public passenger transportation, environmental
solutions, outsourcing services and real estate development in
Chile, Colombia, Panama, Peru and the United States of America.

                           *     *     *

In September 2014, Moody's Investors Service confirmed the senior
secured Caa3 rating of Inversiones Alsacia S.A. and changed the
rating outlook to negative concluding the rating review that was
initiated on August 20.  The rating confirmation at Caa3 reflects
Moody's current assessment of the expected loss to bondholders
following the payment default of required interest and principal
that occurred on August 18, and the subsequent announcement that
the notes would be restructured. Specifically, the Caa3 rating
incorporates the view that based upon Moody's understanding of the
restructuring proposal and Moody's belief that the restructuring
will be executed as contemplated, recovery prospects for current
bond holders should exceed 65%.


INVERSIONES ALSACIA: Case Summary & 30 Top Unsecured Creditors
--------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                     Case No.
       ------                                     --------
       Inversiones Alsacia S.A.                   14-12896
       Avenida Santa Clara 555
       Huechuraba, Santiago

       Express de Santiago Uno S.A.               14-12897

       Inversiones Eco Uno S.A.                   14-12898

       Panamerican Investments Ltd.               14-12899

Type of Business: Operates passenger bus lines of the public
                  transportation system within the Santiago,
                  Chile, metropolitan area.

Chapter 11 Petition Date: October 16, 2014

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

Judge: Hon. Martin Glenn

Debtors' Counsel: Lisa M. Schweitzer, Esq.
                  CLEARY GOTTLIEB STEEN & HAMILTON, LLP
                  One Liberty Plaza
                  New York, NY 10006
                  Tel: (212) 225-2000
                  Fax: (212) 225-3999
                  Email: lschweitzer@cgsh.com

Debtors'          FTI CONSULTING
Financial         TD Waterhouse Tower
Advisor:          79 Wellington Street West, Suite 2010
                  Toronto, Ontario, Canada M5K 1G8
                  Tel: 416.649.8055
                  Brock James Edgar

Debtors'          PRIME CLERK LLC
Claims and        830 3rd Ave, 9th Floor
Noticing          New York, NY 10022
Agent:            Tel: 212-257-5450

Estimated Assets: $100 million to $500 million

Estimated Liabilities: $500 million to $1 billion


The petition was signed by Jose Ferrer Fernandez, chief executive
officer.

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
VTF Latin America S.A.              Trade Debt       $11,233,690
Attn: Marcos Hepp
Av. Juscelino K. de
Oliveira, 2600, CIC
Curitiba, Brazil
+55 41 33177725

Compania de                          Trade Debt       $8,954,719
Petroleos de Chile S.A.
Attn: Jaime Aburto
Agustinas 1382
Santiago, Chile
+562 6907228

Compania de Seguros                  Trade Debt       $4,045,753
Generales Penta Security S.A.
Attn: Benjamin Lea-Plaza
El Bosque Norte
0440 Piso 7 Las Condes, Santiago
Chile
+562 3390103

Camden Servicios SpA                 Trade Debt       $4,025,374
Attn: Christian Cifuentes
Av. Vitacura 2909
Oficina 202
Vitacura, Santiago, Chile
+562 33178728

Volvo Vehicles and Constructions     Trade Debt       $1,624,118
Attn: Laurent Passy
Eduardo Frei
Montalva 8691,
Quilicura, Santiago, Chile
+562 2991129

Empresa Nacional de Energia          Trade Debt       $1,584,519
Enex S.A.
Attn: Rodrigo Forno
Avenida Del Condor
Sur 520, Huechuraba,
Santiago, Chile
+562 4444801

Scania Chile S.A.                    Trade Debt       $1,142,911
Attn: Jose I. Urcelay
Panamericana Norte
9850, Quilicura,
Santiago, Chile
+562 7386060

Scania Finance Chile S.A.            Trade Debt         $891,410
Attn: Oscar Mena
Panamericana Norte
9850, Quilicura
+562 6361818

Sociedad Controladora de             Trade Debt         $862,574
Evasion S.A.
Attn: Jorge Encina
Miraflores 130 Piso 12
Santiago, Chile
+562 7963801

Alphatrading Ltda.                   Trade Debt         $798,536
Attn: Alicia Prieto
5 de abril 4454
Estacion Central,
Santiago, Chile
+569 95344291

Arrendamiento Mercantil              Trade Debt         $685,067
S.A.
Attn: Valeska Arancibia
Nueva Tajamar 555,
Piso 4 Las Condes
Santiago, Chile
+562 6611500

Mapfre Compania de                   Trade Debt         $633,996
Seguros Generales de
Chile S.A.
Attn: Rodrigo Morales
Isidora Goyenechea
3520, Las Condes,
Santiago, Chile
+562 6947261

Claro Chile S.A.                     Trade Debt        $593,065
Attn: Alejandro Charme
Avenida Del Condor
820, Huechuraba,
Santiago, Chile
+562 5825401

Liberty Cia. De Seguros              Trade Debt        $512,506
Generales S.A.
Attn: Alejandro Jimenez
Hendaya 60, piso 10
Las Condes,
Santiago, Chile
+562 3972011

Incofin S.A.                         Trade Debt        $506,439
Attn: Maricel Arellano
Alameda 949 piso 13
Santiago, Chile
+562 4829001

Sociedad Comao Spa                   Trade Debt        $505,713
Attn: Jose Vargas
Arturo Prat 1350
Santiago, Chile
+562 3635021

Tesorero Municipal                   Property Tax      $462,358
de Maipu
Attn: Pedro Herrerra
General Ordonez
176, Maiupu
Santiago, Chile
+562 6776886

Big Services S.P.A.                  Trade Debt        $457,675
Attn: Ernesto Goycoolea
El Bosque Norte
0134, Las Condes,
Santiago, Chile
+562 9434406

Servicios Financieros                Trade Debt        $436,776
Factor Plus S.A.
Attn: Adolfo Pedrero
Merced 480 oficina
1200 Santiago, Chile
+562 8700600

BCI Factoring S.A.                   Trade Debt        $365,593
Attn: Enrique Oliva
Av. El Golf N 125,
Las Condes,
Santiago, Chile
+569 95648917

Transportes Novara Ltda.             Trade Debt        $352,125
Attn: Andres Panza
Vecinal 2725, Pedro
Aguirre Cerda,
Santiago, Chile
+569 92383933

Petrobas Chile Distribucion          Trade Debt        $304,381
Ltda.
Attn: Juan F. Cuevas
Avda Cerro
Colorado 5240, Torre
I, Piso 14, Las Condes,
Santiago, Chile
+562 3283761

Centralservicing SpA                 Trade Debt        $291,543
Attn: Lucia Duran
Vitacura 2909 oficina
205, Vitacura
Santiago, Chile
+562 4823304

Maria Veronica Marquez             Trade Debt          $271,580
Attn: Veronica Marquez
Fernandez Albano
3260, Cerrillos
Santiago, Chile
+569 94331261

Concreces Factoring S.A.           Trade Debt          $240,193

Citymovil SA                       Trade Debt          $205,796

Banco Santander Chile              Trade Debt          $204,302

Incar Seguridad Ltda.              Trade Debt          $201,310

Emaserv S.A.                       Trade Debt          $163,591

Sociedad Concesionaria             Trade Debt          $156,331
Constanera Norte S.A.


ITR CONCESSION: Court Fixes Nov. 17 as General Claims Bar Date
--------------------------------------------------------------
The U.S. Bankruptcy Court in Northern District of Illinois has
established Nov. 17, 2014, as the deadline for all persons and
entities holding or asserting a claim against ITR Concession Co.
to file a formal proof of claim in the Debtor's case.

Governmental entities have until March 20, 2015 to file their
formal proofs of claim against the Debtor.

                      About ITR Concession

ITR Concession Co. operates a 157-mile, four- to six-lane toll
road in Northern Indiana commonly referred to as the Indiana Toll
Road.  The toll road is a vital artery for interstate commerce,
linking the City of Chicago and Lake Michigan to the interstate
highway system, as well as markets, ports, and commercial and
financial centers across the United States.  The toll road opened
in 1956 and is used by nearly 130,000 vehicles per day.

ITR Concession and its affiliates filed for bankruptcy protection
(Bankr N.D. Ill. Lead Case No. 14-34284) on Sept. 21 with a plan
to restructure some $6 billion in debt by selling its assets or
reorganizing its business.

The Debtors have tapped Marc Kieselstein, Esq., Chad J. Husnick,
Esq., Jeffrey D. Pawlitz, Esq., and Gregory F. Pesce, Esq., at
Kirkland & Ellis LLP as counsel; Moelis & Company LLC as
investment banker; and Kurtzman Carson Consultants LLC, as claims
and notice agent.

As of the Petition Date, the Debtors have outstanding funded debt
of $6.0 billion that is comprised of approximately $3.855 billion
in principal amount of first-priority syndicated bank-debt
obligations and approximately $2.15 billion in principal amount of
pari passu first-lien interest rate hedging obligations.


KID COMPANY: Case Summary & 10 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Kid Company of Franklin, Inc.
        1286 N Morgantown Rd
        Greenwood, IN 46142

Case No.: 14-09587

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: October 15, 2014

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Hon. Robyn L. Moberly

Debtor's Counsel: KC Cohen, Esq.
                  KC COHEN, LAWYER, PC
                  151 N Delaware St Ste 1106
                  Indianapolis, IN 46204
                  Tel: 317-715-1845
                  Fax: 317-916-0406
                  Email: kc@esoft-legal.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Prshith Srivastava, president.

A list of the Debtor's 10 largest unsecured creditors is available
for free at http://bankrupt.com/misc/insb14-09587.pdf


KO-KAUA OHANA: Gets Approval to Sell Condo Unit to Yizhao
---------------------------------------------------------
Ohana Group, LLC, received court approval to sell a condominium
unit to Yizhao & Hengji Group for not less than $15.5 million.

The company owns Unit 1 of the Fremont Village Square commercial
condominium building located in Seattle, Washington.  The property
is encumbered by a first lien in the amount of $10.86 million in
favor of Wells Fargo Bank N.A., trustee for certain noteholders.

Wells Fargo will be paid in full directly from escrow once Ohana
Group closes the sale, according to the court order signed by U.S.
Bankruptcy Judge Marc Barreca.

The court order also authorized CCC Investors LLC, a separate
entity and owner of another unit in the same building, to join in
the sale.

The closing of the sale of Ohana Group's property will occur
simultaneously with the closing of the sale of CCC Investors'
property, according to Judge Barreca's order.  The court order can
be accessed for free at http://is.gd/GEB5zk

                       About Ohana Group LLC

Ohana Group LLC, in Seattle, Washington, filed for Chapter 11
bankruptcy (Bankr. W.D. Wash. Case No. 12-21904) on Nov. 30, 2012.
Judge Marc Barreca oversees the case.  James L. Day, Esq., at Bush
Strout & Kornfeld LLP, serves as bankruptcy counsel.  In its
petition, the Debtor scheduled $16,000,000 in assets and
$11,696,131 in liabilities.


LATEX FOAM: Court Extends Plan Filing Deadline to December 29
-------------------------------------------------------------
The Hon. Alan H. W. Shiff of the U.S. Bankruptcy Court for the
District of Connecticut extended the exclusive periods of Latex
Foam International LLC and its debtor-affiliates to:

  a) file a Chapter 11 plan of reorganization until Dec. 29, 2014;
     and

  b) solicit acceptances from creditors for the plan through and
     including Feb. 24, 2015.

                         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.


LDK SOLAR: American Depository Shares Delisted From NYSE
--------------------------------------------------------
The New York Stock Exchange LLC filed a Form 25 with the U.S.
Securities and Exchange Commission to remove from listing or
registration LDK Solar Co., Ltd.'s American Depositary Shares
(Each representing one ordinary share, nominal value $0.10 per
share).

                          About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

The Company's balance sheet at June 30, 2014, showed $3.3 billion
in total assets, $5.23 billion in total liabilities and total
stockholders' deficit of $1.92 billion.

The Company had a working capital deficit and negative equity and
incurred net loss over the past years due to the overall market
decline and its financial performance.  Due to the impending
maturity of its Renminbi-denominated US$-settled 10% Senior Notes
due 28 February 2014, with an aggregate principal amount of RMB
1.63 billion, the Company decided to file the appointment of
provisional liquidators in the Grand Court of Cayman Islands on 21
February 2014.  Eleanor Fisher and Tammy Fu of Zolfo Cooper
(Cayman) Limited were appointed as joint provisional liquidators
of the Company on 27 February 2014.  "These factors raise
substantial doubt as to our ability to continue as a going
concern," according to the Company's regulatory filing with the
SEC.


LEHMAN BROTHERS: Says RMBS Dispute Could Imperil Recoveries
-----------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that the team winding down Lehman Brothers Holdings Inc. is
accusing some of nation's financial institutions of trying to
freeze billions of dollars of Lehman cash earmarked for other
creditors to "coerce" a favorable settlement in their fight with
the failed investment bank over soured mortgage loans.  According
to the report, in a filing with the U.S. Bankruptcy Court in New
York, lawyers for Lehman blasted the trustees responsible for some
255 individual residential mortgage-backed securities trusts that
purchased mortgage loans from Lehman before the financial crisis.

As previously reported by The Troubled Company Reporter, citing
The Wall Street Journal, some of the largest financial
institutions in the U.S., which serve as trustees for residential
mortgage-backed securities trusts, said Lehman Brothers needs to
set aside $12.14 billion to settle claims over certain soured
mortgage loans, more than double what the failed investment bank
has currently set aside for the dispute.  Lawyers for the trustees
said in a filing with the Bankruptcy Court that an independent
review of the loans packaged and sold by Lehman before the
financial crisis shows Lehman's liability is much worse than the
original $5 billion estimate.

                      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)


LEHMAN BROTHERS: Holders of Giants Stadium Claims Seek Payment
--------------------------------------------------------------
Giants Stadium LLC has filed papers urging the U.S. Bankruptcy
Court in Manhattan to allow $600 million-plus in claims against
Lehman Brothers Holdings Inc. related to interest-rate swaps used
to finance the East Rutherford, N.J., football stadium, various
news sources reported.

According to Joseph Checkler, writing for Daily Bankruptcy Review,
Giants Stadium filed a partially redacted filing with the
bankruptcy court, arguing, according to Bill Rochelle and Sherri
Toub, bankruptcy columnists for Bloomberg News, that the stadium
was financed in part with $408.3 million in synthetic long-term
fixed-rate note.  Lehman, the Bloomberg report pointed out, Lehman
doesn't agree with Giants Stadium and initiated a lawsuit in
bankruptcy court in October 2013 contending that Giants Stadium
was liable for $94 million.

The lawsuit is Lehman Brothers Holdings Inc. v. Giants Stadium
LLC, 13-ap-01554, U.S. Bankruptcy Court, Southern District of New
York (Manhattan).

                      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)


LIBERTY TOWERS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

         Debtor                                  Case No.
         ------                                  --------
         Liberty Towers Realty LLC               14-45187
         1877 E. 9th St.
         Brooklyn, NY 11223

         Liberty Towers Realty I, LLC            14-45189
         1877 E. 9th Street
         Brooklyn, NY 11223

Chapter 11 Petition Date: October 15, 2014

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

Judge: Hon. Elizabeth S. Stong

Debtors' Counsel: David Carlebach, Esq.
                  THE CARLEBACH LAW GROUP
                  55 Broadway, Suite 1902
                  New York, NY 10006
                  Tel: (347) 329-1241
                  Fax: (646) 355-1916
                  Email: david@carlebachlaw.com

                                Estimated      Estimated
                                 Assets       Liabilities
                               -----------    -----------
Liberty Towers Realty LLC      $10MM-$50MM    $10MM-$50MM
Liberty Towers Realty I, LLC   $10MM-$50MM    $10MM-$50MM

The petitions were signed by Toby Luria, member.

The Debtors did not file a list of their largest unsecured
creditors when they filed the petitions.


MACKEYSER HOLDINGS: Nov. 14 Set at Claims Filing Deadline
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established Nov. 14, 2014, as the deadline for all persons and
entities holding or asserting a claim against MacKeyser Holdings,
LLC, et al., to file a formal proof of claim in the Debtors'
cases.

Governmental entities have until Dec. 17, 2014 to file their
proofs of claim against the Debtor.

                    About MacKeyser Holdings

MacKeyser Holdings, LLC and its operating affiliates -- American
Optical Services, LLC, and Exela Hearing Services, LLC -- manage
integrated eye care and hearing systems providers with over 80
optical retail, optometry and ophthalmology locations in 14
states.  Within certain of the Company's locations, dedicated
audiology and dispensing staff conduct diagnostics, fitting and
dispensing of hearing systems.

MacKeyser Holdings, LLC, American Optical Services, Inc. and their
affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Case
Nos. 14-11528 to 14-11550) on June 20, 2014.  David R. Hurst,
Esq., and Marion M. Quirk, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, PA.  The Debtors' financial advisor is GlassRatner
Advisory & Capital Group.  The investment banker is Hammond Hanlon
Camp LLC.  The noticing and claims management agent is American
Legal Claim Services, LLC.

In its petition, MacKeyser Holdings estimated $50 million to $100
million in both assets and liabilities.

The petitions were signed by Thomas J. Allison, authorized
officer.

The U.S. Trustee for Region 3 has appointed three creditors
to serve on the official committee of unsecured creditors.


MAR REALTY: Court OKs R. O'Neil as Broker for Bo. Arenas Property
-----------------------------------------------------------------
The Bankruptcy Court has authorized Mar Realty Inc. to hire
Rogelio O'Neil as broker for its property located in Barrio
Arenas, San Juan, Puerto Rico.

As reported in the Oct. 7, 2014 edition of The Troubled Company
Reporter, Mr. O'Neil (1) marketed the Property in accordance with
establishes practices; (2) assisted the Debtor in negotiations
related to the sale of the property; and (3) advertised and
offered the property at its own expense.  Mr. O'Neil has obtained
a final offer for the Barrio Arenas Property for the agreed amount
of $1,475,000.  The agreed commission for the Broker to be paid
out of the proceeds of the sale is 3%.

                        About M.A.R. Realty

M.A.R. Realty Corp. filed a Chapter 11 petition (Bankr. D.P.R.
Case No. 13-09752) on Nov. 25, 2013.  Edwin Ramos signed the
petition as president.  The Debtor disclosed $11.16 million in
total assets and $10.14 million in total liabilities.  Isabel M.
Fullana, Esq., at Garcia Arregui & Fullana PSC, serves as the
Debtor's counsel.  Hon. Mildred Caban Flores presides over the
case.


MARTIFER AURORA: Wants Plan Filing Deadline Extended to Feb. 2
--------------------------------------------------------------
Martifer Solar USA, Inc., and Martifer Aurora Solar, LLC, ask for
the third time the U.S. Bankruptcy Court for the District of
Nevada to extend the periods during which only they may file a
Chapter 11 plan through Feb. 2, 2015 and to solicit acceptances
for that plan through April 3, 2015.

The Bankruptcy Court's second extension order granted the Debtors
an exclusive plan filing deadline through Oct. 3, 2014, and an
exclusive plan solicitation period through Dec. 3, 2014.

The Bankruptcy Court's first extension order granted the Debtors
an exclusive plan filing deadline through Aug. 19, 2014, and an
exclusive plan solicitation period through Oct. 20, 2014.

                          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.


MASON COPPELL: Alan H. Levi Approved as Trustee's Accountant
------------------------------------------------------------
The Bankruptcy Court authorized Dennis Faulkner, Chapter 11
trustee for Mason Coppell OP, LLC, et al., to employ his Alan H.
Levi, PC as accountant.

The trustee related that the Debtors are required to prepare tax
returns for the year ending Dec. 31, 2013, in accordance with
applicable federal law.  In the past, the Debtors have relied upon
the services of Levi to prepare their tax returns.

Levi will prepare the tax returns on an hourly basis, plus out-of
pocket expenses.  Hourly rates will vary from $60 to $230 and will
be determined based on the billing rate of the individual
providing the service.  Out-of-pocket expenses will be charged
consistent with the applicable Local Rules of Bankruptcy Procedure
and U.S. Trustee Guidelines.

In total, Levi estimates that its fees for its services will be
$12,500.

Additionally, Levi will perform the tax accounting services upon
completion of the tax returns.

To the best of the trustee's knowledge, Levi is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

The Trustee is represented by:

         Eric D. Madden, Esq.
         R. Adam Swick, Esq.
         REID COLLINS & TSAI LLP
         1601 Elm Street, 49th Floor
         Dallas, TX 75201
         Tel: (214) 420-8900
         Fax: (214) 420-8909
         E-mails: emadden@rctlegal.com
                  aswick@rctlegal.com

                       About Mason Coppell

Mason Coppell OP, LLC, Mason Georgetown OP, LLC, Mason Mesquite
OP, LLC, and Mason Round Rock OP, LLC operate five skilled nursing
homes in Texas.  Mason Georgetown RealCo, LLC, owns the real
estate and building for the operations of Mason Georgetown.  They
initiated the Chapter 11 cases to effectuate a prompt transfer of
their assets and operations to preserve patient safety and any
potential value for creditors.

Mason Coppell OP, LLC, et al., filed Chapter 11 bankruptcy
petitions (Bankr. N.D. Tex. Case Nos. 14-31327 to 14-14-31334) on
March 18, 2014.  Judge Stacey Jernigan presides over the cases.

The Debtors estimated assets of at least $10 million and debts of
at least $10 million.

The Debtors, except Mason Georgetown Realco, are represented by
Joe E. Marshall, Esq., Thomas D. Berghman, Esq., and Timothy A.
Million, Esq., at Munsch Hardt Kopf & Harr, P.C.  Georgetown
Realco is represented by Jonathan S. Covin, Esq., and Shayla L.
Friesen, Esq., at Wick Phillips Gould & Martin, LLP.

Deloitte Transactions and Business Analytics, LLP, acts as the
Debtors' restructuring advisor with Louis Robichaux serving as
chief restructuring officer.

On March 28, 2014, the U.S. Trustee appointed an Unsecured
Creditors' Committee in the cases.  To date there has been no
request made for the appointment of a trustee or examiner.

Counsel for the Committee is Cox Smith Mathews Incorporated's Mark
Andrews, Esq.

Counsel for Oxford Finance, LLC, which is owed almost $16 million
on a term loan and revolving credit, is Vedder Price P.C.'s Jon
Aberman, Esq.
Mason Coppell OP, LLC, et al., obtained Court authority to sell
substantially all of their assets for a total of $16.1 million,
consisting of $4.0 million for so-called facility assets and $12.1
million for the 142-bed nursing home facility commonly known as
Estrella Oaks Rehabilitation Care Center, in Georgetown, Texas.

At the closing of the sale, proceeds of the sale of the real
property in the amount of $12.1 million, less adjustments,
required U.S. Trustee fees, and required administrative expenses,
will be paid to Oxford.

Debtor Mason Friendswood OP, LLC, has separately sought authority
to sell the Friendship Haven Health and Rehabilitation Center to
ensure uninterrupted and continued care at the Facility.

The Official Committee of Unsecured Creditors filed a Plan of
Liquidation and accompanying Disclosure Statement on August 29,
2014.


MINERAL PARK: Creditors' Panel Taps Gavin/Solmonese as Advisor
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Mineral Park,
Inc. et al. seeks authorization from the U.S. Bankruptcy Court for
the District of Delaware to retain Gavin/Solmonese LLC as
financial advisor to the Committee nunc pro tunc to Sept. 17,
2014.

The Committee requires Gavin/Solmonese to:

   (a) review and analyze the businesses, management, operations,
       properties, financial condition and prospects of the
       Debtors;

   (b) review and analyze historical financial performance, and
       transactions between and among the Debtors, their
       creditors, affiliates and other entities;

   (c) review the assumptions underlying the business plans and
       cash flow projections for the assets involved in any
       potential asset sale or plan of reorganization;

   (d) determine the reasonableness of the projected performance
       of the Debtors, both historically and future;

   (e) monitor, evaluate and report to the Committee with respect
       to the Debtors' near-term liquidity needs, material
       operational changes and related financial and operational
       issues;

   (f) review and analyze all material contracts and agreements;

   (g) assist and procure and assemble any necessary validations
       of asset values;

   (h) provide ongoing assistance to the Committee and the
       Committee's legal counsel;

   (i) evaluate the Debtors' capital structure and make
       recommendations to the Committee with respect to the
       Debtors' efforts to reorganize their business operations
       and confirm a restructuring or liquidating plan;

   (j) assist the Committee in preparing documentation required in
       connection with creating, supporting or opposing a plan and
       participating in negotiations on behalf of the Committee
       with the Debtors or any groups affected by a plan;

   (k) assist the Committee in marketing the Debtors' assets with
       the intent of maximizing the value received for any such
       assets from any such sale;

   (l) Provide ongoing analysis of the Debtors' financial
       condition, business plans, capital spending budgets,
       operating forecasts, management and the prospects for their
       future performance; and

   (m) the other tasks as the Committee or its counsel may
       reasonably request in the course of exercise of the
       Committee's duties in these cases.

Gavin/Solmonese will be paid at these hourly rates:

       Edward T. Gavin, CTP          $625
       Wayne P. Weitz                $525
       Jeremy P. VanEtten            $375

From time to time, other Gavin/Solmonese professionals may be
involved in these cases as needed.  Hourly rates for these
professionals range from $250 to $650 per hour.

Gavin/Solmonese will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Edward T. Gavin, managing director and founding partner of
Gavin/Solmonese, 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 Nov. 19, 2014, at 3:00 p.m.  Objections, if any,
are due Oct. 27, 2014, at 4:00 p.m.

Gavin/Solmonese can be reached at:

       Edward T. Gavin. CTP
       GAVIN/SOLMONESE LLC
       919 N. Market Street, Suite 600
       Wilmington, DE 19801
       Tel: (302) 655-8997 ext. 151
       E-mail: ted.gavin@gavinsolmonese.com

                          About Mineral Park

Mineral Park, Inc., Bluefish Energy Corp. and two affiliates
commenced proceedings under Chapter 11 of the Bankruptcy Code in
Delaware on Aug. 25, 2014.  The cases are pending before the
Honorable Kevin J. Carey and are jointly administered under Case
No. 14-11996.

Mineral Park and its affiliated debtors are subsidiaries of
Mercator Minerals Ltd. ("MML"), a mineral resource company engaged
through various subsidiaries in the mining, exploration,
development and operation of its mineral properties in Mohave
County, Arizona, and Sonora, Mexico.

Mineral Park's principal asset is the Mineral Park Mine, a
producing copper-molybdenum mine located near Kingman, Arizona.
Bluefish is the owner and operator of the industrial gas turbine
power generator at the Mine.

British Columbia, Canada-based MML, which has shares trading on
the Toronto Stock Exchange under the trading symbol "ML", is not
included in the bankruptcy filing.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP as
counsel, Evercore Group LLC as investment banker, FTI Consulting,
Inc., as financial advisor, FTI's David J. Beckman as CRO, and
FTI's Paul Hansen as assistant CRO.  Prime Clerk LLC is the claims
and noticing agent.

Mineral Park estimated $100 million to $500 million in assets and
debt.


MOMENTIVE PERFORMANCE: Wants Appeals Court to Dismiss Plan Appeal
-----------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Momentive Performance Inc. has urged the U.S.
Court of Appeals in Manhattan to deny a stay of the order
confirming its Chapter 11 plan of reorganization, saying the court
of appeals lack jurisdiction.

According to the Bloomberg report, Momentive said no circuit court
has ever halted implementation of a bankruptcy reorganization
using the so-called All Writs Act, one of the grounds relied upon
by the senior and subordinated bondholders who appealed from the
confirmation order.

Meanwhile, The Troubled Company Reporter previously reported that
Judge Robert D. Drain of the U.S. Bankruptcy Court for the
Southern District of New York has approved a timetable for the
substantial consummation of the joint Chapter 11 plan of Momentive
Performance and its debtor affiliates and entry of a final decree
closing the Debtors' cases.  The Debtors anticipate that the
effective date of the Plan will occur in the fourth quarter of
2014.

The appeals in the circuit court are U.S. Bank NA v. Wilmington
Savings Fund Society FSB (In re MPM Silicones LLC), 14-3536, and
and BOKF NA v. Momentive Performance Materials Inc. (In re MPM
Silicones LLC), 14-3531, both in U.S. Court of Appeals for the
Second Circuit (Manhattan).

                   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 Court entered an order confirming the Plan on Sept. 11, 2014.

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: Oct. 31 Hearing on Exclusivity Extensions
----------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Oct. 31, 2014, at
9:30 a.m., to consider MPM Silicones, LLC, et al.'s request for
exclusivity extensions.  Objections, if any, are due Oct. 19, at
4:00 p.m.

The Debtors are asking the Court to extend their exclusive period
to file a plan of reorganization until Dec. 9, 2014.

The Debtors filed the motion out of an abundance of caution to
avoid any possible dispute regarding exclusivity.  The Court has
already entered an order confirming the Plan on Sept. 11, 2014.
However, several parties have appealed the confirmation of the
Plan, including: (i) U.S. Bank National Association as Indenture
Trustee; (ii) First Lien Trustee and the 1.5 Lien Trustee.

The Debtors are represented by:

         Matthew A. Feldman, Esq.
         Rachel C. Strickland, Esq.
         Jennifer J. Hardy, Esq.
         WILLKIE FARR & GALLAGHER LLP
         787 Seventh Avenue
         New York, NY 10019
         Tel: (212) 728-8000
         Fax: (212) 728-8111

                    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 Court entered an order confirming the Plan on Sept. 11, 2014.

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.


NAARTJIE CUSTOM: Taps SierraConstellation to Provide CRO
--------------------------------------------------------
Naartjie Custom Kids, Inc. asks permission from the Hon. William
T. Thurman of the U.S. Bankruptcy Court for the District of Utah
to employ SierraConstellation Partners, LLC as restructuring
advisors, and provide Jeff Nerland as the Debtor's chief
restructuring officer, effective Sept. 12, 2014.

SierraConstellation has assigned Mr. Nerland to serve as the
Debtor's CRO and other personnel of SierraConstellation are
performing services related thereto as set forth in the Engagement
Agreement.

The Engagement Agreement details the scope of services to be
provided to the Debtor and breaks such services down into two
distinct phases as described below:

   -- Phase 1 ? Bankruptcy Preparation and Evaluation of
      Alternatives:

      - preparation of a Company cash flow forecast and resultant
        financing requirements;

      - assistance in identifying, negotiating, and closing Debtor
        in Possession (DIP) financing or other financing
        alternatives if feasible; and

      - provide assistance in preparation of schedules and
        statements for possible bankruptcy filing.

   -- Phase 2 ? Support Execution of Restructuring (If Bankruptcy
      Filing Occurs):

      - provide assistance in the management of schedules for
        filing in a court-based proceeding;

      - provide management support related to the operations and
        cash flow management during the bankruptcy process;

      - provide management support in evaluating and responding to
        parties during negotiation including landlords, vendors,
        and other key constituents;

      - interact with the unsecured creditor committee and assist
        in the preparation of management reports; and

      - manage the plan-of-reorganization preparation and
        negotiation with counsel.

SierraConstellation will be paid at these hourly rates:

       Jeff Nerland as CRO              $450
       William White as
       Restructuring Manager            $360
       Director                         $360
       Senior Associate                 $250
       Para Professional                $117

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

The Debtor provided SierraConstellation with an intital retainer
fee in the amount of $40,000 to be applied towards
SierraConstellation's final bill for fees and expenses incurred
during the duration of the contract.  Between Aug. 4, 2014 and the
Petition Date, SierraConstellation was paid an additional
$283,496.28 and billed Naartjie $228,904.83 in fees and expenses.
There is $94,591.45 remaining from the funds paid by Naartjie to
SierraConstellation which will be transferred to a post-petition
retainer.

Mr. Nerland 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.

SierraConstellation can be reached at:

       SIERRACONSTELLATION PARTNERS LLC
       400 South Hope Street, Suite 2050
       Los Angeles, CA 90071
       Tel: (213) 289-9060
       Fax: (213) 232-3285

                    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 (Bankr. D. Utah Case No. 14-
29666).  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.


NAARTJIE CUSTOM: Hires Stroock & Stroock as Special Counsel
-----------------------------------------------------------
Naartjie Custom Kids, Inc. asks for permission from the Hon.
William T. Thurman of the U.S. Bankruptcy Court for the District
of Utah to employ Stroock & Stroock & Lavan LLP as special
counsel, nunc pro tunc to the Sept. 12, 2014 petition date.

The Debtor requires Stroock & Stroock to:

   (a) advise the Debtor in the negotiation and documentation of
       an agreement to use cash collateral;

   (b) advise the Debtor in the negotiation and documentation of a
       debtor in possession financing agreement;

   (c) advise the Debtor in the negotiation and documentation of
       an Agency Agreement with liquidators;

   (d) negotiate rules and procedures for a process to attract
       overbidders to participate in an Auction to obtain a higher
       and better offer for the Debtor's inventory and FF&E than
       that provided in the Agency Agreement, and conducting such
       an Auction to conclusion;

   (e) prepare all necessary pleadings to have the Court consider
       and hopefully approve the Agency Agreement, the cash
       collateral agreement, the DIP lending agreement, the Sale
       Procedures regarding the Auction and the Agency Agreement
       with the winner of the Auction; and

   (f) advise the Debtor on issues regarding the monetization of
       its intellectual property and foreign subsidiaries.

Stroock & Stroock will be paid at these hourly rates:

       Frank A. Merola             $975
       Ray La Soya                 $975
       Matt Schwartz               $930
       Christopher P. Gabriel      $585
       Thomas Shiah                $535
       Mariloly Orozco             $395
       Michael Magzamen            $345

Stroock & Stroock is providing the Debtor with a 15% discount off
of its stated rates.

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

Prior to the petition date, Stroock & Stroock received from the
Debtor an initial retainer in the amount of $100,000, paid in two
installments of $50,000 (the ?Retainer?) and received an
additional $75,000 to replenish the Retainer.  As of the petition
date, Stroock & Stroock holds a Retainer paid by the Debtor in the
amount of $17,746.61.

Frank A. Merola, partner in Stroock's Financial Restructuring
Department, 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.

Stroock & Stroock can be reached at:

       Frank A. Merola, Esq.
       STROOCK & STROOCK & LAVAN LLP
       2029 Century Park East
       Los Angeles, CA 90067-3086
       Tel: (310) 556-5800
       Fax: (310) 556-5959
       E-mail: fmerola@stroock.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 (Bankr. D. Utah Case No. 14-
29666).  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.


NAARTJIE CUSTOM: Has Until April 2015 on Lease-Related Decisions
----------------------------------------------------------------
The Hon. William T. Thurman of the U.S. Bankruptcy Court for the
District of Utah set April 11, 2015, as deadline for Naartjie
Custom Kids Inc. to assume, assume and assign, or reject its
leases.

As reported in the Troubled Company Reporter on Oct. 1, 2014, all
of the Debtor's unexpired leases are set to be automatically
rejected as of Jan. 10, 2015.

After a history of declining sales and failed refinancing
processes, the Debtor has concluded that the best way to maximize
value for the benefit of all interested parties is to conduct a
prompt and orderly closing of all its 55 retail stores in the U.S
through the retention of a professional liquidator.  The Debtor
says in its Sept. 26, 2014 court filing that as part of the
proposed liquidation, the Debtor anticipates that it will close
the retail stores at various times during the liquidation as the
inventory and assets from one retail store is either completely
liquidated or moved to another retail store, as the case may be.

"If the current lease rejection deadline is not extended, then any
further extension of the sale termination date to provide
additional time for liquidation of the Debtor's assets at its
retail stores would not be possible.  And, because the Debtor is
not able to determine at this point when each individual retail
store, distribution center or other place of business will be
closed -- which timing is dependent on the success of the proposed
liquidation -- a global 90-day extension of the current lease
rejection deadline is appropriate and will conserve estate and
court resources.  In sum, if the Debtor is forced to assume the
leases at this time, the estate may be unnecessarily burdened with
administrative expenses.  On the other hand, premature rejection
of the leases may leave the Debtor without a retail store location
to conduct the proposed liquidation, thereby crippling the
Debtor's ability to effectively liquidate its assets to maximize
recovery for the benefit of creditors," the Debtor stated.

                   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 (Bankr. D. Utah Case No. 14-
29666).  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.


NATROL INC: Files Amended Schedules of Assets and Liabilities
-------------------------------------------------------------
Natrol, Inc., et al., filed with the U.S. Bankruptcy Court for the
District of Delaware amended schedules of assets and liabilities,
which disclose total assets of $83,932,462, and total liabilities
of $87,174,387.  A copy of the schedules is available for free at
http://bankrupt.com/misc/NATROLINC_517_amendedsal.pdf

                        About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established in 1980, Natrol, Inc. has been a global leader in the
nutrition industry, and a trusted manufacturer and marketer of a
superior quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.  The Committee tapped to retain Otterbourg P.C. as lead
counsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)
CMAG as financial advisors.


NATROL INC: Proposes Nov. 10 Auction for All Assets
---------------------------------------------------
The Bankruptcy Court will convene a hearing on Oct. 23, 2014, at
12:00 noon, to consider the approval of Natrol, Inc., et al.'s
motion to, among other things:

   i) approve sale procedures with respect to one or more sales of
      all or substantially all of the Debtors' assets;

  ii) approve stalking horse protections;

iii) provide for the indefeasible payment of net proceeds from
      the sale of the assets to Cerberus Business Finance, LLC or
      one of its affiliates in its capacity as administrative
      agent and collateral agent under the financing agreement
      dated as of March 5, 2013, as amended.

The Debtor related that on July 30, 2014, the Court approved the
compromise and settlement agreement with Cerberus Business Finance
LLC.  The settlement, entered among the Debtors, the Official
Committee of Unsecured Creditors, Cerberus, and Natrol Global Fze
LLC, resolved various issues, including a dispute regarding the
use of cash collateral and Cerberus's request to appoint a chapter
11 trustee.

Pursuant to the settlement agreement, the Debtors are required to
pursue (i) a refinancing of the Cerberus debt; or (ii) the sale of
all or substantially all of the Debtors' assets, and the Debtors
are required to consummate either the refinancing or sale so as to
generate, in either scenario, funds in an amount sufficient to
satisfy Cerberus's Allowed Claim in full on or before the payment
deadline.

The bidding procedures provide for this timeline:

Oct. 16, at 4:00 p.m.               Deadline to object to entry of
                                    bid procedures order

Oct. 23, at 12:00 p.m.              Sale procedures hearing

Oct. 27                             Deadline for the Debtors to
                                    serve auction and sale notice

Oct. 27                             Deadline for the Debtors to
                                    serve cure notice

Oct. 30                             Deadline for proposed stalking
                                    horse bidder to comply with
                                    requirements under sale
                                    procedures

Oct. 31                             Deadline to select stalking
                                    horse bidder

Oct. 31                             Deadline for the Debtors to
                                    publish auction and sale
                                    notice

Nov. 5, at 4:00 p.m.                Deadline for parties to object
                                    to sale (objections may be
                                    supplemented)

Nov. 5, at 4:00 p.m.                Deadline for Non-Debtor
                                    counterparties to object to
                                    assumption, assignment, and
                                    sale of contracts or
                                    leases and cure amount

Nov. 6, at 5:00 p.m.                Bid deadline

Nov. 7                              Deadline for the Debtors to
                                    make copies of all qualified
                                    bids available to all
                                    qualified bidders

Nov. 10, at 10:00 a.m.              Auction

Nov. 11, at 4:00 p.m.               Deadline for the Debtors and
                                    all other parties in interest
                                    to respond to any contract
                                    objections or sale objections

Nov. 11                             Deadline for Debtors to file
                                    notice of successful bidder

Nov. 11                             Deadline for successful bidder
                                    to execute all sale related
                                    documents

Nov. 12, at 10:30 a.m.              Sale hearing

Nov. 13                             Deadline to return minimum bid
                                    to qualified bidders

Dec. 15                             Deadline to close sale

Dec. 15                             Deadline to return minimum bid
                                    to next highest bidder(s)

As reported in the Troubled Company Reporter on Oct. 7, 2014,
Law360 reported that the proposed sale procedures represent one
prong of Natrol's "dual track" restructuring strategy, and would
give the Los Angeles-based outfit until the end of October to
select a stalking horse bidder for a planned Nov. 10 auction.

The TCR reported on Oct. 7, 2014, that Bill Rochelle and Sherri
Toub, bankruptcy columnists for Bloomberg News, reported that the
sale is in line with the settlement entered between Natrol's
secured lender, Cerberus Business Finance LLC, and the Official
Committee of Unsecured Creditors, which requires Natrol to sell
its assets or refinance the more than $68.8 million Cerberus debt.

The report related that under the proposed schedule, anyone
wishing to be the so-called stalking horse will have until Oct. 30
to comply with specified requirements, while competing bids are
due Nov. 6 for a Nov. 10 auction and Nov. 12 sale-approval
hearing.  The sale must be completed by Dec. 15, the report added.

                        About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established in 1980, Natrol, Inc. has been a global leader in the
nutrition industry, and a trusted manufacturer and marketer of a
superior quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.  The Committee tapped to retain Otterbourg P.C. as lead
counsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)
CMAG as financial advisors.

The Debtors reported total assets of $83,932,462 and total
liabilities of $87,174,387.


NATROL INC: Oct. 23 Hearing on Employee Bonus Plan
--------------------------------------------------
The Bankruptcy Court will convene a hearing on Oct. 23, 2014, at
12:00 noon, to consider Natrol, Inc.' motion to pay incentive
bonuses to certain employees; and implement an employee bonus
plan.

The bonus plan is the result of extensive review and analysis by
the Debtors' management and independent board member, well as
significant input from the Debtors' key stockholders -- Cerberus
Business finance, LLC -- and the Official Committee of Unsecured
Creditors.

According to the Debtors, the bonus plan will provide performance
incentives to certain insider and certain other non-insider
employees of the Debtors to preserve and maximize the going
concern value of the Debtors' business.

The Debtors have identified key constituencies that they have
determined are critical to the success of the cases.  The
constituencies consist of certain sales personnel, senior
personnel, marketing personnel, critical personnel and executive
personnel.

Pursuant to the Plan:

   1. Sales personnel will be eligible to receive a bonus of up to
20% of his annual salary for 2014;

   2. Senior personnel will be eligible to receive a bonus of up
to $200,000 for 2014;

   3. Marketing personnel will be eligible to receive a bonus of
up to 20% of his annual base salary for 2014, provided that the
Debtors achieve the Debtors' aggregate sale target for the quarter
ending Dec. 31, 2014;

   4. Critical personnel will be eligible to receive a bonus of up
to 20% of his annual base salary for 2014; and

   5. Executive personnel will be eligible to receive a bonus
subject to, among other things: (a) 35% of the subject bonus will
be earned and payable upon consummation of either a financing or
sale of the Debtors' assets (as defined in the compromise and
settlement agreement dated July 9, 2014); and (b) after
satisfaction of the transaction metric.

                        About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established in 1980, Natrol, Inc. has been a global leader in the
nutrition industry, and a trusted manufacturer and marketer of a
superior quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.  The Committee tapped to retain Otterbourg P.C. as lead
counsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)
CMAG as financial advisors.


NATROL INC: Wants Plan Filing Exclusivity Until Feb. 6
------------------------------------------------------
The Bankruptcy Court will convene a hearing on Oct. 23, 2014 at
12:00 noon, to consider Natrol, Inc., et al.'s motion for
exclusivity extensions.  Objections, if any, are due Oct. 16, at
4:00 p.m.

The Debtors are asking the Court to extend their exclusive period
to file chapter 11 plan until Feb. 6, 2015, and the period to
solicit acceptances for that plan until April 7, 2015.

The Debtors filed their request for extension before their
exclusive period will expire on Oct. 9.

                        About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established in 1980, Natrol, Inc. has been a global leader in the
nutrition industry, and a trusted manufacturer and marketer of a
superior quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.  The Committee tapped to retain Otterbourg P.C. as lead
counsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)
CMAG as financial advisors.


NATURAL MOLECULAR: Mark Calvert Named as Chapter 11 Trustee
-----------------------------------------------------------
The Office of the United States Trustee has appointed Mark
Calvert, a disinterested person, as chapter 11 trustee in the
bankruptcy case of Natural Molecular Testing Corp.

Mr. Calvert will perform the duties specified in 11 U.S.C. Sec.
1106.  The Chapter 11 Trustee will obtain a bond in the initial
amount of $10,000 pursuant to 11 U.S.C. Sec. 322(b)(2).  The
Chapter 11 Trustee's bond will be in a form as is acceptable to
the U.S. Trustee.  The Chapter 11 Trustee is authorized to use
estate funds for the purpose of paying the bond premium.

The move for a Chapter 11 Trustee appointment was brought by the
Official Committee of Unsecured Creditors.  After the Committee
and the Debtor reached an agreement on the matter and upon review,
the U.S. Bankruptcy Court for the Western District of Washington
approved the Appointment Motion on Sept. 29, 2014.

                      About Natural Molecular

Natural Molecular Testing Corp., which provides molecular
diagnostic-testing services, including testing for sexually
transmitted diseases and screening and counseling about cystic
fibrosis, filed a petition for Chapter 11 protection (Bankr. W.D.
Wash. Case No. 13-19298) on Oct. 21, 2013, in Seattle.  Hacker
& Willig, Inc., P.S., serves as its bankruptcy counsel. The
closely held company said assets are worth more than $100 million
while debt is less than $50 million.

Gail Brehm Geiger, Acting U.S. Trustee for Region 18, appointed a
five-member Committee of Unsecured Creditors.  Foster Pepper's
Jane Pearson, Esq.; Christopher M. Alston, Esq., and Terrance
Keenan, Esq., serve as the Committee's attorneys.


NAUTILUS HOLDINGS: Seeks to Extend Plan Filing to Dec. 10
---------------------------------------------------------
Nautilus Holdings Limited, et al., seeks an extension of their
exclusive plan filing deadline through Dec. 10, 2014 and their
exclusive solicitation period through Feb. 10, 2015.

Nautilus Holdings Limited and 20 affiliated companies, including
Nautilus Holdings No. 2 Limited, filed bare-bones Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 14-22885) in
White Plains, New York, on June 23, 2014.

The affiliates are Nautilus Holdings No. 2 Limited; Nautilus
Shipholdings No. 1 Limited; Nautilus Shipholdings No. 2 Limited;
Nautilus Shipholdings No. 3 Limited; Able Challenger Limited;
Charming Energetic Limited; Dynamic Continental Limited; Earlstown
Limited; Findhorn Osprey Limited; Floral Peninsula Limited; Golden
Knighthead Limited; Magic Peninsula Limited; Metropolitan Harbour
Limited; Metropolitan Vitality Limited; Miltons' Way Limited;
Perpetual Joy Limited; Regal Stone Limited; Resplendent Spirit
Limited; Superior Integrity Limited; and Vivid Mind Limited.

The Debtors' cases have been assigned to Judge Robert D. Drain,
and are being jointly administered for procedural purposes.

Hamilton, Bermuda-based Nautilus estimated $100 million to $500
million in assets and debt.  Monrovia, Liberia-based Reminiscent
Ventures S.A. owns 100% of the stock.  Nautilus has tapped Jay
Goffman, Esq., Mark A. McDermott, Esq., Shana A. Elberg, Esq., and
Suzanne D.T. Lovett, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, in New York, as counsel; and AP Services, LLC, as financial
advisor.  Epiq Bankruptcy Solutions LLC serves as the claims and
noticing agent.


NETBANK INC: Supreme Court Case Pits Bank Owners Against FDIC
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the U.S. Supreme Court will have an
opportunity to decide whether the property of a bankrupt bank
belongs to the holding company that owns the bank or the Federal
Deposit Insurance Corp., which becomes receiver of the bank.
According to the report, in the NetBank case, the U.S. Court of
Appeals in Atlanta last year awarded the refund to the FDIC as
receiver, and not to the holding company.  In March, NetBank's
liquidating trustee asked the Supreme Court to resolve what he
called a split among appeals courts on what the FDIC should be
forced to prove before establishing a so-called constructive trust
that gives the refund to the bank, even though the refund was
payable to the holding company, the report said.

The NetBank case in the Supreme Court is Zucker v. Federal Deposit
Insurance Corp., 13-1480, U.S. Supreme Court (Washington).

                        About NetBank Inc.

Headquartered in Jacksonville, Florida, NetBank Inc. --
http://www.netbank.com/-- is a financial holding company of
Netbank, the United States' oldest Internet bank serving retail
and business customers in all 50 states.  NetBank Inc. did
retail banking, mortgage banking, business finance, and provided
ATM and merchant processing services.

The Company filed for chapter 11 protection (Bankr. M.D. Fla. Case
No. 07-04295) on Sept. 28, 2007.  Alan M. Weiss, Esq., at
Holland & Knight LLP, represents the Debtor.  Rogers
Towers, Esq. at Kilpatrick Stockton LLP, represents the Official
Committee of Unsecured Creditors.

Clifford Zucker serves as the Liquidating Supervisor for NetBank
under the terms of a Second Amended Liquidating Plan confirmed in
Sept. 2008, and is represented by Michael D. Langford, Esq., and
Shane G. Ramsey, Esq., at Kilpatrick Stockton LLP in Atlanta, Ga.

As of Sept. 25, 2007, the Debtor reported total assets of
$87,213,942 and total debts of $42,245,857.  As of August 31,
2008, NetBank, Inc., had total assets of $13,807,207 and total
liabilities of $34,607,868.


NII HOLDINGS: Wants to Hire Rothschild Inc. as Financial Advisor
----------------------------------------------------------------
NII Holdings Inc. seeks to employ Rothschild Inc. as its financial
advisor and investment banker.

The Debtor expects Rothschild to:

   (1) identify and/or initiate potential Transactions;

   (2) review and analyze the Debtors' assets and the operating
       and financial strategies of the Debtors; and

   (3) review and analyze the business plans and financial
       projections prepared by the Debtors including, but not
       limited to, testing assumptions and comparing those
       assumptions to historical company and industry trends.

The Debtor proposes to pay for Rothschild's services in this
manner:

   a. Monthly Fees: $250,000 per month

   b. Completion Fee: $15,000,000, payable once, upon confirmation
      and effectiveness of a Plan or the closing of a Transaction,
      provided that Rothschild provided material services to the
      Debtor within the scope of services set forth in the
      Engagement Letter with respect to such Plan or Transaction.

   c. New Capital Fee: Not more than $6,000,000, as follows:
      (i) 1.0% of senior secured debt raised including debtor-in-
      possession financing; (ii) 2.0% of junior secured debt
      raised, (iii) 4.0% of unsecured debt raised, (iv) 5.0% of
      equity-linked, convertible or hybrid capital raised,
      including equity underlying contingent equity securities and
      (v) 6.0% of any common equity capital raised, in each case
      so long as Rothschild assisted the Debtors in identifying
      the sources or negotiating the terms of such new capital.

   d. Credits: Half of Monthly Fees paid are creditable against
      any Completion Fee. In addition, half of the $450,000 paid
      under the Prior Engagement Letter, or $225,000, is
      creditable against any Completion Fee.

   e. Expense Reimbursement: Reimbursement of reasonable expenses
      incurred in connection with the engagement, including
      reasonable legal expenses.

Rothschild assures the Court that it is a "disinterested person"
as the term is defined in Section 101(14) of the Bankruptcy Code.

                        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.  The U.S. Trustee for Region 2 on
Sept. 29 appointed five creditors of NII Holdings to serve on the
official committee of unsecured creditors.


PHOENIX RIVER ROAD: Case Summary & Unsecured Creditor
-----------------------------------------------------
Debtor: Phoenix River Road Redevelopment Associates, LLC
        c/o Aronsohn Weiner Salerno & Bremer
        263 Main Street
        Hackensack, NJ 07601

Case No.: 14-31074

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: October 15, 2014

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Rosemary Gambardella

Debtor's Counsel: Craig L. Levinsohn, Esq.
                  Gerald R. Salerno, Esq.
                  ARONSOHN WEINER SALERNO & BREMER, P.C.
                  263 Main Street
                  Hackensack, NJ 07601
                  Tel: (201) 487-4747
                  Email: clevinsohn@aronsohnweiner.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Berek Don, managing member.

The Debtor listed SRI Realty Corp. as its largest unsecured
creditor holding a claim of $1.59 million.

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

            http://bankrupt.com/misc/njb14-31074.pdf


PLANDAI BIOTECHNOLOGY: Has $15.5-Mil. Loss in FY Ended June 30
--------------------------------------------------------------
Plandai Biotechnology, Inc., filed with the U.S. Securities and
Exchange Commission on Oct. 14, 2014, its annual report on Form
10-K for the fiscal year ended June 30, 2014.

Terry L. Johnson, CPA, expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has incurred a deficit of $26 million and has used
approximately $44 million of cash due to its operating activities
in the two years ended June 30, 2014.  The Company may not have
adequate readily available resources to fund operations through
June 30, 2015.

The Company reported a net loss of $15.53 million on $265,748 of
revenues for the fiscal year ended June 30, 2014, compared with a
net loss of $2.97 million on $359,143 of revenues in 2013.

The Company's balance sheet at June 30, 2014, showed $9.68 million
in total assets, $13.22 million in total liabilities, and a
stockholders' deficit of $3.54 million.

A copy of the Form 10-K is available at:

                       http://is.gd/iw7EZd

                          About Plandai

Based in Seattle, Washington, Plandai Biotechnology, Inc., through
its recent acquisition of Global Energy Solutions, Ltd., and its
subsidiaries, focuses on the farming of whole fruits, vegetables
and live plant material and the production of proprietary
functional foods and botanical extracts for the health and
wellness industry.  Its principle holdings consist of land, farms
and infrastructure in South Africa.

Plandai incurred a net loss of $2.96 million on $359,143 of
revenues for the year ended June 30, 2013, as compared with a net
loss of $3.83 million on $74,452 of revenues during the prior
fiscal year.  The Company's balance sheet at March 31, 2014,
showed $9.77 million in total assets, $13.20 million in total
liabilities, $1.29 million in noncontrolling interest and a $2.14
million total stockholders' deficit.

As reported by the TCR on Feb. 4, 2014, Terry L. Johnson, CPA,
replaced Patrick Rodgers, CPA, P.A., as the Company's independent
accountant.

Patrick Rodgers, CPA, PA, in Altamonte Springs, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company has incurred losses since
inception, has a negative working capital balance at June 30,
2013, and has a retained deficit, which raises substantial doubt
about its ability to continue as a going concern.


PROSPECT PARK NETWORKS: Wants Removal Deadline Moved to Dec. 5
--------------------------------------------------------------
Prospect Park Networks, LLC, filed with the Bankruptcy Court a
motion for an order further extending by 60 days through and
including Dec. 5, 2014, the time by which it may file notices of
removal with respect to civil actions pending as of the Petition
Date.

Counsel to the Debtor, John H. Genovese, Esq., at Genovese Joblove
& Battista P.A., explained that from the Petition Date to the
present, among other things, the Debtor has focused its efforts
upon completing all necessary requirements in connection with the
issuance and sale of a tax credit voucher from the State of
Connecticut and the preparation and filing of a Disclosure
Statement and Plan of Liquidation.  On Aug. 25, 2014, the Court
entered an order authorizing the sale of the Tax Credit to Apple,
Inc.

Additionally, on Aug. 4, 2015, the Debtor filed an application to
retain Jones Day as special litigation counsel to pursue the
litigation against American Broadcasting Companies ("ABC") in
connection with ABC's actions that led to the cancellation of
storied soap operas One Life to Live ("OLTL") and All My Children
("AMC").  On Sept. 25, 2014, the Court entered an order
approving the retention of Jones Day.  Now that the Jones Day
retention application has been approved, the Debtor and Jones Day
need additional time to analyze whether the ABC Litigation should
be removed.  The Debtor also believe it needs additional time to
determine if any of the other pending litigation should be removed
and will work diligently towards a decision.

A hearing is slated for Nov. 25, 2014.  Objections are due Nov.
18.

                   About Prospect Park Networks

Prospect Park Networks, LLC, a Los Angeles, Calif.-based talent
and management company, filed for Chapter 11 bankruptcy (Bankr. D.
Del. Case No. 14-10520) in Wilmington, on March 10, 2014,
estimating $50 million to $100 million in assets, and $10 million
to $50 million in debts.  The petition was signed by Jeffrey
Kwatinetz, president.

William E. Chipman, Jr., Esq., and Mark D. Olivere, Esq., at
Cousins Chipman & Brown LLP, in Wilmington, Delaware; and John H.
Genovese, Esq., Michael Schuster, Esq., and Heather L. Harmon,
Esq., at Genovese Joblove & Battista, P.A. serve as the Debtor's
bankruptcy counsel.  The Debtor also hired Cohn Reznick LLP as an
ordinary course professional.

The U.S. Trustee for Region 3 selected three creditors to serve on
the Official Committee of Unsecured Creditors.  Cole, Schotz,
Meisel, Forman & Leonard, P.A., serves as the Committee's counsel.


PROSPECT PARK NETWORKS: Proposes Dec. 15 Claims Bar Date
--------------------------------------------------------
Prospect Park Networks, LLC, is asking the Bankruptcy Court to
enter an order:

   a. fixing Dec. 15, 2014 at 11:59 p.m. (Prevailing Eastern
Time), as the last date (the "General Bar Date") for filing proofs
of claim against the Debtor on account of claims arising, or
deemed to have arisen by virtue of section 501(d) of the
Bankruptcy Code, prior to the Petition Date;

   b. fixing Dec. 15,2014 at 11:59 p.m. (Prevailing Eastern Time),
as the last date (the "Interest Bar Date") for filing proofs of
interest in the Debtor on account of equity interests in the
Debtor;

   c. fixing April 14, 2015 at 11 :59 p.m. (Prevailing Eastern
Time), as the last date for governmental units to file proofs of
claim (the "Governmental Unit Bar Date"); and

   d. fixing Dec. 15, 2014 at 11:59 p.m. (Prevailing Eastern
Time), as the last date (the "Administrative Claims Bar Date") for
all persons or entities holding a claim arising under sections
503(b) and 507(a)(2) of the Bankruptcy Code against the Debtor
that may have arisen, accrued or otherwise become due and payable
at any time on and subsequent to the Petition Date, but on or
before October 1, 2014 -- Initial Administrative Claims Period --
to file claims in the Chapter 11 Case.

Pursuant to Bankruptcy Rule 3003(c)(2), the Debtor proposes that
any holder of a claim against or interest in the Debtor who is
required, but fails, to file a proof of claim or interest or
Administrative Claim on or before the applicable Bar Date will be
forever barred, estopped and enjoined from asserting such claim
against or interest in the Debtor (or filing a proof of claim or
interest with respect thereto), and the Debtor's property shall be
forever discharged from any and all indebtedness or liability with
respect to such claim or interest, and such holder shall not be
permitted to vote, to accept or reject any chapter 11 plan filed
in this Chapter 11 Case, or participate in any distribution on
account of such claim or interest or to receive further notices
regarding such claim or interest.

A hearing is slated for Oct. 28, 2014 at 2:00 p.m. (ET).
Objections are due Oct. 21.

                   About Prospect Park Networks

Prospect Park Networks, LLC, a Los Angeles, Calif.-based talent
and management company, filed for Chapter 11 bankruptcy (Bankr. D.
Del. Case No. 14-10520) in Wilmington, on March 10, 2014,
estimating $50 million to $100 million in assets, and $10 million
to $50 million in debts.  The petition was signed by Jeffrey
Kwatinetz, president.

William E. Chipman, Jr., Esq., and Mark D. Olivere, Esq., at
Cousins Chipman & Brown LLP, in Wilmington, Delaware; and John H.
Genovese, Esq., Michael Schuster, Esq., and Heather L. Harmon,
Esq., at Genovese Joblove & Battista, P.A. serve as the Debtor's
bankruptcy counsel.  The Debtor also hired Cohn Reznick LLP as an
ordinary course professional.

The U.S. Trustee for Region 3 selected three creditors to serve on
the Official Committee of Unsecured Creditors.  Cole, Schotz,
Meisel, Forman & Leonard, P.A., serves as the Committee's counsel.


QUICKSILVER RESOURCES: Evercore to Close Stock Fund
---------------------------------------------------
Quicksilver Resources Inc. sent a notice pursuant to Section 306
of the Sarbanes-Oxley Act of 2002 to its directors and executive
officers informing them that the independent fiduciary and
investment manager for the Company stock fund of the Quicksilver
Resources Inc. 401(k) Plan, as amended, Evercore Trust Company,
N.A., has informed the Company that it has determined to close the
Company stock fund.

In order to implement this closure, commencing on Oct. 14, 2014,
and ending during the week of Oct. 24, 2014, participants in the
401(k) Plan will not be able to purchase or otherwise acquire
interests in Company common stock, $0.01 par value, or make
changes in investment elections or deferral percentages in the
401(k) Plan that would result in any purchase or other acquisition
of Company Common Stock.

During the Blackout Period, all directors and executive officers
of the Company will be prohibited from, directly or indirectly,
purchasing, selling or otherwise acquiring or transferring Company
Common Stock (or related securities, including derivative
securities) acquired in connection with employment or service as a
director or executive officer of the Company.

Stockholders or other interested parties may obtain, without
charge, information regarding the Blackout Period, including
information as to whether the Blackout Period has begun or ended,
by contacting Francisco J. Villamar, Assistant General Counsel,
Corporate & Securities and Secretary, 801 Cherry Street, Suite
3700, Unit 19, Fort Worth, Texas 76102, or by telephone at (817)
665-5000.

As of Oct. 14, 2014, the Company stock fund held approximately 1.4
million shares of Company Common Stock.  A copy of the Notice is
available for free at http://is.gd/RElpfP

                         About Quicksilver

Quicksilver Resources Inc. is an exploration and production
company engaged in the development and production of long-lived
natural gas and oil properties onshore North America.  Based in
Fort Worth, Texas, the company is widely recognized as a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999 and is listed on the New York Stock Exchange under the
ticker symbol KWK.  The company has U.S. offices in Fort Worth,
Texas; Glen Rose, Texas; Steamboat Springs, Colorado; Craig,
Colorado and Cut Bank, Montana.  The Company's Canadian
subsidiary, Quicksilver Resources Canada Inc., is headquartered in
Calgary, Alberta.

Quicksilver Resources posted net income of $161.61 million in 2013
following a net loss of $2.35 billion in 2012.  As of June 30,
2014, the Company had $1.05 billion in total assets, $2.16 billion
in total liabilities and a $1.11 billion total stockholders'
deficit.

                           *     *     *

As reported by the TCR on Sept. 30, 2014, Moody's Investors
Service downgraded Quicksilver Resources Inc.'s Corporate Family
Rating (CFR) to Caa3 from Caa1.  "The downgrade to Caa3 reflects
Moody's view that Quicksilver Resources' risk of default has
further increased," said Pete Speer, Moody's Senior Vice
President.

The TCR reported on Oct. 7, 2014, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Quicksilver
Resources Inc. to 'CCC-' from 'CCC+'.  "The downgrade reflects our
view that Quicksilver could undertake a distressed exchange for
its $350 million subordinated notes due 2016 within the next six
months," said Standard & Poor's credit analyst Carin Dehne-Kiley.


QUANTUM CORP: To Report Approx. $135-Mil. Total Revenue in Q2
-------------------------------------------------------------
Quantum Corp. announced preliminary results for the second quarter
of fiscal 2015, ended Sept. 30, 2014.  The company expects to
report:

  * Total revenue of approximately $135 million, at the top of
    Quantum's July guidance range of $130 million to $135 million,
    and a three percent increase over the same period last year;

  * Branded revenue of approximately $107 million, up six percent
    year-over-year driven by over 50 percent growth in scale-out
    storage revenue and 11 percent growth in revenue from DXi?
    deduplication sales; and

  * Continued improvement in profitability as the result of
    revenue growth and greater operational efficiencies.

"These strong preliminary second quarter results demonstrate the
success we're seeing in the market and the increased leverage
we've driven in our business over the last 18 months," said Jon
Gacek, president and CEO of Quantum.  "During this time we've made
several strategic improvements to our operating model while
continuing to invest in products that not only generate higher
levels of profit and cash flow but also deliver strong revenue
growth.

"We're very pleased with the great progress we've made,
particularly growing total revenue year-over-year for the first
time in five quarters, with substantial growth in both scale-out
storage and DXi deduplication.  These results demonstrate the
strength and breadth of our entire product portfolio in helping
customers meet their complex workflow needs."

Quantum will issue a news release on its second quarter financial
results on Wednesday, Oct. 29, 2014, after the close of the
market.  The company will also hold a conference call and live
audio webcast to discuss these results that same day at 2:00 p.m.
PDT.  Press and industry analysts are invited to attend in listen-
only mode.

Dial-in Number: 719-457-2085 (U.S. and International); Access Code
5622078

Replay Numbers: 719-457-0820 (U.S. and International); Access Code
5622078

Replay Expiration: Monday, November 3, 2014, at 5:00 p.m. PST

Webcast Site: www.quantum.com/investors

                         About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

Quantum Corporation incurred a net loss of $21.47 million on
$553.16 million of total revenue for the year ended March 31,
2014, as compared with a net loss of $52.17 million on $587.43
million of total revenue for the year ended March 31, 2013.

As of June 30, 2014, the Company had $351.21 million in total
assets, $439.81 million in total liabilities and a $88.59 million
total stockholders' deficit.


RB ENERGY: Under Court Protection; Hale to Provide DIP Financing
----------------------------------------------------------------
RB Energy Inc. on Oct. 15 disclosed that the Quebec Superior Court
has issued an Amended and Restated Initial Order in respect of the
Company and certain of its subsidiaries under the Companies'
Creditors Arrangement Act (the "CCAA").  The Company is now under
the protection of the Court.

The Company also advises that Hale Capital Partners, L.P. has
agreed to provide debtor-in-possession ("DIP") financing to RBI,
which is expected to provide the Company with up to US$13 million
of available capital during the CCAA proceedings.  Advances under
the DIP will be available after approval by the Court.  The
Company expects to receive the first advance of US$6 million under
the DIP on or before Friday, October 17, 2014.  The proceeds of
the DIP financing are expected to be sufficient to permit the
Company to meet its ongoing obligations during the restructuring
process.

KPMG LLP has been appointed monitor under the Court Order.  RBI
management will remain responsible for the day-to-day operations
of the Company, subject to the terms of the Court Order.

The Company will provide further updates as developments occur.

                      About RB Energy Inc.

RBI is a Canadian company formed pursuant to the arrangement
involving Sirocco Mining Inc. and Canada Lithium Corp.  It
currently owns Aguas Blancas, an iodine producing mine in northern
Chile, and the Quebec Lithium Project near Val d'Or, the
geographical heart of the Quebec mining industry.


RESIDENTIAL CAPITAL: Most Suits v. Originators Go to Minnesota
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Residential Capital LLC for the most part must
pursue lawsuits in federal court in Minnesota against lenders who
sold it allegedly defective home mortgages unless ResCap and the
mortgage originator had agreed that suits could be filed in New
York.

According to the report, the latest ruling handed down by U.S.
District Judge John G. Koeltl in New York in a case involving PHH
Mortgage Corp., which sold ResCap almost $1 billion of mortgages,
held that constitutional considerations required removing the PHH
suit from bankruptcy court even though it was described by ResCap
as a counterclaim against the mortgage originator's $168,000 claim
in the bankruptcy.  After taking the suit away from the bankruptcy
judge, Judge Koeltl sent the case to Minnesota to comply with the
parties' so-called forum selection clause, the report related.

The suit is ResCap Liquidating Trust v. PHH Mortgage Corp., 14-cv-
05315, U.S. District Court, Southern District New York
(Manhattan).

                    About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


RITE AID: Inks Stock Trading Plan With Executive Officers
---------------------------------------------------------
John T. Standley, chairman and chief executive officer of Rite Aid
Corporation entered into a pre-arranged stock trading plan to
exercise his options to purchase a limited number of shares of the
Company's common stock, par value $1.00 per share, and to sell the
shares acquired on exercise for personal financial management
purposes.

On Oct. 13, 2014, Kenneth Martindale, president and chief
operating officer of the Company, entered into a pre-arranged
stock trading plan to exercise his options to purchase a limited
number of shares of Common Stock and to sell the shares acquired
on exercise for personal financial management purposes.

On Oct. 9, 2014, Marc A. Strassler, executive vice president,
general counsel and secretary of the Company, entered into a pre-
arranged stock trading plan to exercise his options to purchase a
limited number of shares of Common Stock and to sell the shares
acquired on exercise for personal financial management purposes.

The Standley 10b5-1 Plan allows for the exercise of options to
purchase a maximum of 1.7 million shares of Common Stock if the
Common Stock reaches a specified market price during the period
commencing Dec. 22, 2014, and continuing until the options to
purchase all 1.7 million shares have been exercised and the
acquired shares sold, or Sept. 18, 2015, whichever occurs first.
The shares acquired upon exercise will be sold contemporaneously
with the exercise.

The Martindale 10b5-1 Plan allows for the exercise of options to
purchase a maximum of 1.0434 million shares of Common Stock if the
Common Stock reaches a specified market price during the period
commencing Dec. 22, 2014, and continuing until the options to
purchase all 1.0434 million shares have been exercised and the
acquired shares sold, or Sept. 18, 2015, whichever occurs first.
The shares acquired upon exercise will be sold contemporaneously
with the exercise.

The Strassler 10b5-1 Plan allows for the exercise of options to
purchase a maximum of 575,975 shares of Common Stock if the Common
Stock reaches specified market prices during the period commencing
Dec. 22, 2014, and continuing until the options to purchase all
575,975 shares have been exercised and the acquired shares sold,
or June 18, 2015, whichever occurs first.  The shares acquired
upon exercise will be sold contemporaneously with the exercise.

The Plans were designed to comply with the guidelines specified in
Rule 10b5-1 promulgated under the Securities Exchange Act of 1934,
as amended, which permit persons to enter into a pre-arranged plan
for buying or selling Company stock at a time when such person is
not in possession of material, nonpublic information about the
Company.  Messrs. Standley, Martindale and Strassler will continue
to be subject to the Company's stock ownership guidelines, and the
sales contemplated by the Plans will not reduce Mr. Standley's,
Mr. Martindale's or Mr. Strassler's ownership of Common Stock
below the levels required by the guidelines.

                        About Rite Aid Corp.

Drugstore chain Rite Aid Corporation (NYSE: RAD) --
http://www.riteaid.com/-- is a drugstore chain based in Camp
Hill, Pennsylvania.

Rite Aid disclosed net income of $118.10 million on $25.39 billion
of revenue for the year ended March 2, 2013, as compared with a
net loss of $368.57 million on $26.12 billion of revenue for the
year ended March 2, 2012.

The Company's balance sheet at Aug. 30, 2014, showed $6.95 billion
in total assets, $8.86 billion in total liabilities and a $1.90
billion total stockholders' deficit.

                           *     *     *

As reported by the TCR on March 1, 2013, Moody's Investors Service
upgraded Rite Aid Corporation's Corporate Family Rating to B3 from
Caa1 and Probability of Default Rating to B3-PD from Caa1-PD.  At
the same time, the Speculative Grade Liquidity rating was revised
to SGL-2 from SGL-3.  This rating action concludes the review for
upgrade initiated on Feb. 4, 2013.

As reported by the TCR on Oct. 2, 2013, Standard & Poor's Ratings
Services said it raised its ratings on Rite Aid Corp., including
the corporate credit rating, which S&P raised to 'B' from 'B-'.

In the April 21, 2014, edition of the TCR, Fitch Ratings has
upgraded its ratings on Rite Aid Corporation (Rite Aid), including
its Issuer Default Rating (IDR) to 'B' from 'B-'.  The upgrades
reflect the material improvement in the company's operating
performance, credit metrics and liquidity profile over the past 24
months.


RIVER-BLUFF: Files First Amended Plan and Disclosure Statement
--------------------------------------------------------------
River Bluff Enterprises, Inc. filed with the United States
Bankruptcy Court for the Eastern District of Washington its First
Amended Disclosure Statement to accompany its First Amended
Chapter 11 Plan of Reorganization, dated September 24, 2014.

The Plan provides for the reorganization of the Debtor's estate,
pursuant to the terms and conditions set forth in the Plan.

For the purpose of the Projections, the Debtor estimates that the
Confirmation Date will occur on December 18, 2014, and, hence, the
Effective Date will occur on February 18, 2015.

The Plan provides for these classifications of Claims and
Interests:

   * Class 1 - Allowed Secured Claims for Property Taxes;
   * Class 2 - Allowed Unsecured Priority Claims;
   * Class 3 - Allowed Secured Claim of Berkadia;
   * Class 4 - Allowed Secured Claim of Chase (Plaza Apartments);
   * Class 5 - Allowed Secured Claim of Chase (Sierra Manor);
   * Class 6 - The Allowed Secured Claim of US Bank;
   * Class 7 - Allowed Secured Claim of Alpine;
   * Class 8 - Allowed General Unsecured Claims;
   * Class 9 - The Allowed Unsecured Claim of Alpine;
   * Class 10 - The Allowed Unsecured Claim of Marcus Haney; and
   * Class 11 - Shareholder Interests.

Certain types of claims are automatically entitled to specific
treatment under the Bankruptcy Code.  The Unclassified Claims
under the Plan are Administrative Expenses and Priority Tax
Claims, which will be paid according to the Bankruptcy Code.

            Implementation and Execution of the Plan

The Debtor and Guarantors anticipate that the Plan will be funded
principally by a future net cash flow from the future operations
of the Debtor, and in large part by a sale of the Medical
Building, a real property with three-story 34,541-square-foot
office building and improvements located in Ellensburg,
Washington.

The Debtor anticipates that Effective Date payments required under
the Plan will be funded by Cash available at the time of
Confirmation.

The Debtor projects that the future rents generated by the Modesto
9th St. property and the Sierra Manor property will be more than
sufficient to continue to service the loans of the holders of the
Allowed Class 3 and Class 5 Claims.

The Debtor will fund the distributions to the Allowed Class 6
Claim through a combination of the continued operation of the
Medical Building, and a subsequent sale of the Building on or
before the maturity date of the restated obligations as provided
for under the Plan.

Under the Plan, Unsecured Claims which are included in Classes 8
are being paid their Allowed Claims in full.  The holders of the
Allowed Class 9 and 10 unsecured claims will also be paid their
allowed claim in full.  Accordingly, all Unsecured Creditors
provided for under the Plan will be paid 100% of their Allowed
Claims, unless they have otherwise consented to a less favorable
treatment which would allow for the separate classification of
those Claims being paid less than 100% of their Allowed Claims.

                   Management and Compensation

Upon confirmation, the Reorganized Debtor will continue to employ
the Management -- Roger Haney, Byron Haney and Eric Layman in
their capacity as officers, directors, and shareholders of the
Debtor -- to perform the day to day management of the Debtor's
business.

The Debtor will continue to pay Roger Haney a monthly salary of
$3,000 month.

Byron Haney will continue to act on behalf of the Debtor as the
leasing agent for the Medical Building.  Dr. Haney will not be
compensated for his services in this capacity.

                  About River-Bluff Enterprises

Ellensburg, Washington-based River-Bluff Enterprises, Inc., filed
a Chapter 11 bankruptcy petition (Bankr. E.D. Wash. Case No. 14-
00843) on March 11, 2014.  In its schedules, the Debtor disclosed
$10,231,777 in total assets and $17,609,653 in total liabilities.

This is River-Bluff's second bankruptcy filing in less than two
years.  It previously sought bankruptcy protection (Bankr. E.D.
Cal. Case No. 12-92017) in Modesto, California, in July 2012.  The
case was dismissed in 2013.

Gary W. Dryer, Assistant U.S. Trustee for Region 18, informed the
U.S. Bankruptcy Court for the Eastern District of Washington that
due to the lack of entities eligible to serve on the unsecured
creditors' committee, the U.S. Trustee is not appointing an
unsecured creditors' committee in the Chapter 11 case of River-
Bluff Enterprises, Inc.


RIVER-BLUFF: U.S. Bank Says Plan Has Insufficient Information
-------------------------------------------------------------
U.S. Bank National Association, a secured creditor, objects to the
approval of River-Bluff Enterprises, Inc.'s Disclosure Statement
accompanying the First Amended Chapter 11 Plan of Reorganization
filed on September 24, 2014, on the grounds that it does not
contain information, of a kind and in sufficient detail that would
enable a hypothetical, reasonable investor, typical of the holders
of claims, to make an informed judgment about the proposed Plan.

The Disclosure Statement still contains blanks regarding material
information, including information regarding the Debtor's history
and the amount of payments the Debtor proposes to pay to the
Alpine Townhouse Apartments, LLC, Teresa H. Pearson, Esq., at
Miller Nash LLP, in Portland, Oregon --
teresa.pearson@millernash.com -- tells the United States
Bankruptcy Court for the Eastern District of Washington.

Ms. Pearson contends that the Disclosure Statement does not
consistently describe the amount of the Debtor's debt to U.S.
Bank.  In one place, she notes, the Disclosure Statement describes
the debt as $5,441,431.75, but in another place, describes the
debt as $5,439,995.55.  She adds that the Debtor does not indicate
whether it disputes the debt as described in U.S. Bank's proof of
claim.

The Debtor scheduled the debt to U.S. Bank as a disputed claim,
Ms. Pearson says.  She asserts that the Disclosure Statement
should explain (a) whether the Debtor actually disputes the amount
of U.S. Bank's filed proof of claim, and (b), if Debtor does
dispute the claim, the basis for the dispute and how much the
Debtor believes is actually owed on the claim.

Among other things, U.S. Bank contends that the Disclosure
Statement fails to:

   -- explain why the Debtor needs 120 days after confirmation to
      object to claims, when there are only four proofs of claim
      filed in this case;

   -- describe the Debtor's opinion or any other evidence of the
      value of U.S. Bank's collateral;

   -- explain how the Debtor will obtain the legal right to
      disallow the late charges and default interest owed to U.S.
      Bank;

   -- explain what will happen to U.S. Bank's cash collateral;
      and

   -- explain when the restructured obligation to U.S. Bank would
      mature.

                  About River-Bluff Enterprises

Ellensburg, Washington-based River-Bluff Enterprises, Inc., filed
a Chapter 11 bankruptcy petition (Bankr. E.D. Wash. Case No. 14-
00843) on March 11, 2014.  In its schedules, the Debtor disclosed
$10,231,777 in total assets and $17,609,653 in total liabilities.

This is River-Bluff's second bankruptcy filing in less than two
years.  It previously sought bankruptcy protection (Bankr. E.D.
Cal. Case No. 12-92017) in Modesto, California, in July 2012.  The
case was dismissed in 2013.

Gary W. Dryer, Assistant U.S. Trustee for Region 18, informed the
U.S. Bankruptcy Court for the Eastern District of Washington that
due to the lack of entities eligible to serve on the unsecured
creditors' committee, the U.S. Trustee is not appointing an
unsecured creditors' committee in the Chapter 11 case of River-
Bluff Enterprises, Inc.


RIVER-BLUFF: UST Says Disclosure Statement "Lacking" in Info
------------------------------------------------------------
Gail Brehm Geiger, Acting United States Trustee for Region 18,
objects to River-Bluff Enterprises, Inc.'s First Amended
Disclosure Statement accompanying its First Amended Chapter 11
Plan of Reorganization because that statement is lacking.

The treatment of U.S. Bank is not accurately reflected in the
projections, the Trustee tells the United States Bankruptcy Court
for the Eastern District of Washington.  The Trustee notes that
the treatment of U. S Bank is $39,000 per month for 12 months,
then $41,000 per month for the next 48 months, but the projections
reflect only $26,000 per month.

The Trustee asserts that if the additional $13,000 is added to the
2015 expenses, the operating cash projections for the year of the
Ellensburg property is reduced to a net of $35,940, which makes
the feasibility dependent on adding the new tenants by the middle
of 2015.  The Trustee contends that the Disclosure Statement may
need a better description of the situation of adding new tenants.

The use of any net proceeds from the sale of the Ellensburg
property is not promised to pay the unsecured creditors, the
Trustee also contends.  The Trustee asserts that the insiders
apparently are permitted to direct the use of those funds and the
Plan and Disclosure Statement are silent about those uses.  The
Trustee insists that uses of the net proceeds of sale should
explicitly be described.

The Trustee further contends, among other things, that the
necessity of the "skip a payment" provision in the treatment of
Berkadia and Chase is not described.  The Trustee argues that an
explanation of why that impairment is needed for business purposes
is a necessary foundation especially when the "skip a payment"
provision is not reflected in the projections.

                  About River-Bluff Enterprises

Ellensburg, Washington-based River-Bluff Enterprises, Inc., filed
a Chapter 11 bankruptcy petition (Bankr. E.D. Wash. Case No. 14-
00843) on March 11, 2014.  In its schedules, the Debtor disclosed
$10,231,777 in total assets and $17,609,653 in total liabilities.

This is River-Bluff's second bankruptcy filing in less than two
years.  It previously sought bankruptcy protection (Bankr. E.D.
Cal. Case No. 12-92017) in Modesto, California, in July 2012.  The
case was dismissed in 2013.

Gary W. Dryer, Assistant U.S. Trustee for Region 18, informed the
U.S. Bankruptcy Court for the Eastern District of Washington that
due to the lack of entities eligible to serve on the unsecured
creditors' committee, the U.S. Trustee is not appointing an
unsecured creditors' committee in the Chapter 11 case of River-
Bluff Enterprises, Inc.


SEARS HOLDINGS: Turns to Blogosphere to Defend Financial Health
---------------------------------------------------------------
Law360 reported that Sears Holdings Corp. went on the offensive
against market chatter about its possible liquidity troubles,
saying that it has "significant financial flexibility" to execute
an operational reorganization and that analysts and the press are
wrong to report otherwise.  According to the report, a defiant
post entitled "Setting the Record Straight" on Sears' corporate
blog sought to counter a damaging Bloomberg News article claiming
that an unnamed vendor had halted shipments to the retailer after
its credit insurance providers began attempting to cancel
coverage.

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period. For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year. Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014. "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SEARS HOLDINGS: Drops After Insurers Said to Cut Supplier Coverage
------------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Sears Holdings Corp. dropped 4.8 percent in
New York trading on Oct. 8 after Bloomberg reported that three
providers of credit insurance either canceled or cut back coverage
for the retailer's suppliers.  According to the report, citing
people familiar with the matter, Euler Hermes Group is canceling
coverage, Coface SA indicated it intends to do the same, and
Atradius Credit Insurance said it's scaling back coverage, though
the firm hasn't yet pulled policies.

The Hoffman Estates, Illinois-based chain's shares, on Oct. 8,
plunged as much as 17 percent to $25.05 on the news before
climbing back to $28.85, the Bloomberg report said.

Sears Holdings' $1.234 billion in 6.625 percent second-lien bonds
due 2018 traded at 2:10 p.m. on Oct. 8 for 87.3 cents on the
dollar, to yield 10.6, the Bloomberg report related, citing Trace,
the bond-price reporting system of the Financial Industry
Regulatory Authority.

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period. For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year. Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014. "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SEARS HOLDINGS: Ronald Boire Is Sears Canada Acting President
-------------------------------------------------------------
Sears Holdings Corporation announced that Ronald D. Boire, the
Company's executive vice president, chief merchandising officer
and president, Sears Full Line Stores and Kmart Format, left the
Company on Oct. 15, 2014, to serve as acting president and chief
executive officer of Sears Canada Inc.

In connection with Mr. Boire's departure, the Company and
Mr. Boire entered into the agreement dated Oct. 13, 2014.  The
agreement provides for the vesting of 25,000 shares that were
granted in 2012, and for the vesting of cash payments of $376,840
granted in 2012 and 2014 in connection with the spin-off or other
distribution to shareholders of shares in Sears Canada Inc., Sears
Hometown and Outlet Stores, and Lands' End.  These awards will be
paid or settled, as applicable, as soon as practicable (but in no
event later than March 15, 2015).  The agreement also provides
that the remaining $50,000 paid to Mr. Boire on Oct. 15, 2014, as
the final installment of his sign-on bonus, is not subject to
repayment by Mr. Boire to the Company.

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period. For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year. Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014. "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SECOND STREET: Asks for Plan Filing Exclusivity Until Dec. 6
------------------------------------------------------------
Second Street Properties, known as Pacific Steel Casting Company
before selling all its assets to Speyside Fund LLC, is asking the
bankruptcy court to extend its exclusive period to propose a plan
by 60 days until Dec. 6, 2014, and the exclusive period to solicit
acceptances of the plan until Feb. 6, 2015.

This exclusivity extension motion -- the second one filed in the
case -- has been brought prior to the expiration of the first
extension granted by the court.

Counsel to the Debtors, Julie H. Rome-Banks, Esq., at Binder &
Malter, LLP, explains that since the inception of the Chapter 11
cases, the Debtors have been efficiently working towards a plan of
reorganization which was predicated on a sale of substantially all
of SSP's assets.  The first three months of the case were focused
on critical matters needed to preserve the going concern value of
the assets of the Estates, such as postpetition financing, utility
deposits and the marketing of assets.  The Court approved bid
procedures and eventually also approved the sale of substantially
all the assets of SSP and related relief on July 28, 2014.  The
sale of substantially all assets of SSP closed on August 29, 2014.
As a result of the sale, the Debtors have terminated all
employees, with all but approximately 1 dozen becoming employees
of the buyer.

Since closing the sale, the Debtors have been actively engaged in
post-closing reconciliations and adjustments that are typical of
large sales of a going concern business, including working capital
(inventory and accounts receivable) adjustments, pro-rating of
expenses and invoices for the month of August, and dealing with
the transfer of equipment that as subject to disguised security
agreements and seeking refunds on utility deposits.  The Court has
also recently granted the Debtors' request to set a bar date of
Oct. 31, 2014 for administrative claims through the date of the
closing.  The Debtors have also filed a motion to reject their
remaining leases and executory contracts which is scheduled for
hearing on October 8th with a requested bar date for rejection
claims and administrative claims by those affected creditors of
Oct. 31, 2014.  In addition, Nov. 27, 2014 is the last day for the
Buyer to assert claims based upon alleged violations of the
representations and warranties contained in the asset purchase
agreement.  A $32,358,877 priority tax claim was filed by the IRS
on Aug. 28, 2014 due to a pending audit of the 2012 corporate
income tax returns.  The Debtors anticipate filing a motion under
Section 505(a) to determine that the claim of the IRS should be
valued at zero and expect that contested matter to initially come
before the Court in November.  Based on all of these temporal
factors which affect a liquidation analysis, estimated recovery to
creditors and feasibility, the Debtors do not anticipate being
able to file a plan of reorganization for at least two months at
the earliest.

                   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.

The Debtors in July 2014 won court approval to sell their fourth-
generation family-owned steel foundry for $11.3 million cash plus
assumption of specified liabilities to Speyside Fund LLC.

Bankruptcy Judge Roger L. Efremsky authorized the Debtors 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 Debtors 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.


SIMPLEXITY LLC: Can File Chapter 11 Plan Until November 11
----------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware extended the exclusive periods of Simplexity LLC and
its debtor-affiliates to:

  a) file a Chapter 11 plan until Nov. 11, 2014; and

  b) solicit acceptances for creditors of that plan through and
     including Jan. 12, 2015.

As reported in the Troubled Company Reporter on Sept. 29, 2014,
the Official Committee of Unsecured Creditors has asked the
bankruptcy court to terminate Simplexity's exclusivity to allow
the panel to pursue a lawsuit against the bank, saying it's
improper for the company's officers, directors, managers and
indirect owner Versa Capital Management LLC to lead settlement
negotiations with Fifth Third.

                         About Simplexity

Simplexity, LLC, a defunct cellphone activator, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
14-10569) on March 16, 2014.  The case is before Judge Kevin
Gross.  The Debtors' counsel is Kenneth J. Enos, Esq., and Robert
S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP, in
Wilmington, Delaware.  Prime Clerk LLC serves as claims and
noticing agent.  Simplexity hired Rutberg & Co. as investment
banker.

Simplexity LLC and Simplexity Services LLC both estimated
$10 million to $50 million in assets, and $50 million to $100
million in liabilities.

The U.S. Trustee for Region 3 appointed five members to an
official committee of unsecured creditors.  Peter S. Partee, Sr.,
Esq., and Michael P. Richman, Esq., at Hunton & Williams LLP, in
New York; and Christopher A. Ward, Esq., and Shanti M. Katona,
Esq., at Polsinelli PC, in Wilmington, Delaware, represent the
Committee.


SIMPLEXITY LLC: Fifth Third Bashed for Chapter 7 Conversion Bid
---------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Simplexity LLC and its debtor affiliates
lodged an objection to the request by senior Lender Fifth Third
Bank to convert the cellphone activator's case to Chapter 7.

According to Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, the Creditors' Committee argued that the
lender's request, its second, is a way for the bank to avoid being
sued by creditors.  Law360 noted that the Committee asked the
Court to deny Fifth Third's bid like the first, especially now
that its investigation has turned up valuable claims against the
bank.  The Committee argued that the panel, not a Chapter 7
trustee, is in the best position to expeditiously prosecute
actions against the bank, the Bloomberg report related.

                         About Simplexity

Simplexity, LLC, a defunct cellphone activator, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
14-10569) on March 16, 2014.  The case is before Judge Kevin
Gross.  The Debtors' counsel is Kenneth J. Enos, Esq., and Robert
S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP, in
Wilmington, Delaware.  Prime Clerk LLC serves as claims and
noticing agent.  Simplexity hired Rutberg & Co. as investment
banker.

Simplexity LLC and Simplexity Services LLC both estimated
$10 million to $50 million in assets, and $50 million to $100
million in liabilities.

The U.S. Trustee for Region 3 appointed five members to an
official committee of unsecured creditors.  Peter S. Partee, Sr.,
Esq., and Michael P. Richman, Esq., at Hunton & Williams LLP, in
New York; and Christopher A. Ward, Esq., and Shanti M. Katona,
Esq., at Polsinelli PC, in Wilmington, Delaware, represent the
Committee.


SPECIALTY PRODUCTS: Court Approves ARPC as Evaluation Consultants
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Eric D. Green, the proposed legal representative for future
claimants -- Future Claimants' Representative -- in the cases of
NMBFiL, Inc. and Republic Powdered Metals, Inc., to employ
Analysis, Research, and Planning Corporation -- ARPC -- as claims
evaluation consultants to the Future Claimants Representative,
nunc pro tunc to Aug. 15, 2014, with respect to NMBFiL, and to
Aug. 31, 2014, with respect to Republic.

As reported in the Troubled Company Reporter on Oct. 15, 2014,
the Future Claimants' Representative anticipates that ARPC will
render consulting services to the Future Claimants' Representative
as needed throughout the course of these cases, including but not
limited to:

   (a) estimation of the number and value of present and future
       asbestos personal injury claims and demands;

   (b) development of claims procedures to be used in the
       development of financial models of payments and assets of a
       claims resolution trust; and

   (c) analyzing and responding to issues relating to providing
       notice to personal injury claimants and reviewing such
       notice procedures.

ARPC will be paid at these hourly rates:

       Principals          $450-$650
       Directors           $275-$450
       Consultants         $150-$275
       Analysts            $95-$150

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

Dr. Thomas Vasquez, partner of ARPC, 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.

                     About Specialty Products

Cleveland, Ohio-based Specialty Products Holdings Corp., aka RPM,
Inc., is a wholly owned subsidiary of RPM International Inc.  The
Company is the holding company parent of Bondex International,
Inc., and the direct or indirect parent of certain additional
domestic and foreign subsidiaries.  The Company claims to be a
leading manufacturer, distributor and seller of various specialty
chemical product lines, including exterior insulating finishing
systems, powder coatings, fluorescent colorants and pigments,
cleaning and protection products, fuel additives, wood treatments
and coatings and sealants, in both the industrial and consumer
markets.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 10-11780) on May 31, 2010.  Gregory M. Gordon, Esq.,
Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serve
as bankruptcy counsel.  Daniel J. DeFranceschi, Esq., Zachary
I. Shapiro, Esq., Paul N. Heath, Esq., and Tyler D. Semmelman,
Esq., at Richards Layton & Finger, serve as co-counsel.  Logan and
Company is the Company's claims and notice agent.  The Company
estimated its assets and debts at $100 million to $500 million.

The Company's affiliate, Bondex International, Inc., filed a
separate Chapter 11 petition on May 31, 2010 (Case No. 10-11779),
estimating its assets and debts at $100 million to $500 million.

Specialty Products Holding Corp, together with Bondex
International, Inc., are referred to as the Initial Debtors.

Counsel to the Official Committee of Asbestos PI Claimants are
Natalie D. Ramsey, Esq., and Mark A. Fink, Esq. of Montgomery,
Mccracken, Walker & Rhoads, LLP, in Wilmington Delaware, and Mark
B. Sheppard, Esq. of the firm's Philadelphia, Pennsylvania
division.

Counsel to the Future Claimants' Representative are James L.
Patton, Jr., Esq., Edwin J. Harron, Esq., Edmon Morton, Esq.,
Sharon Zieg, Esq., and Erin Edwards, Esq. of Young Conaway
Stargatt & Taylor LLP, in Wilmington, Delaware.

Competing bankruptcy exit plans have been filed by the Initial
Debtors, on one hand, and the Official Committee of Unsecured
Creditors and the Future Claimants' Representative on the other.

The Debtors' First Amended Joint Plan of Reorganization and the
explanatory Disclosure Statement, dated Nov. 18, 2013, provides
for an asbestos trust to be established and funded with cash to
pay present and future asbestos-related claims.  The trust will be
funded by secured notes, issued by the Debtors and their ultimate
parent, RPM International Inc. ("International"), and the amounts
and terms of the notes will, with one exception, be determined by
the final outcome or settlement of the litigation that will
determine the asbestos claimants' rights in the chapter 11 cases.
The one exception is that the notes will provide for an aggregate
initial nonrefundable payment of $125 million to the asbestos
trust irrespective of the outcome of any litigation.  In short,
the Debtors and International have committed to pay to asbestos
claimants the maximum amount to which they are entitled based on
the applicable judgments or rulings in the litigation that will
determine the extent of the claimants' rights in the chapter 11
cases, and to make comparable payments to other similarly situated
creditors.

The PI Committee and the FCR's Third Amended Plan, filed Oct. 15,
2013, provides that: (i) SPHC will be separated from non-Debtor
direct or indirect parent Bondex International; (ii) Reorganized
SPHC will be managed and/or sold for the benefit of holders of all
Claims that are not paid in Cash, subordinated, cancelled or
otherwise treated pursuant to the Plan; (iii) all of SPHC's causes
of action will survive; (iv) Asbestos PI Trust Claims against SPHC
will be channeled to an Asbestos PI Trust; and (v) current SPHC
equity interests will be canceled, annulled, and extinguished.

On May 20, 2013, the Bankruptcy Court entered an order estimating
the amount of the Debtors' asbestos liabilities, and a related
memorandum opinion in support of the estimation order.  The
Bankruptcy Court estimated the current and future asbestos claims
associated with Bondex International, Inc. and Specialty Products
Holding at approximately $1.17 billion.  The estimation hearing
represents one step in the legal process in helping to determine
the amount of potential funding for a 524(g) asbestos trust.

On Aug. 31, 2014, Republic Powdered Metals, Inc., and affiliate
NMBFiL, Inc. -- the New Debtors -- sought Chapter 11 protection
(Bankr. D. Del. Case No. 14-12028).  The New Debtors are
indirect subsidiaries of Bondex International and affiliates of
the Initial Debtors.

Republic Powdered Metal is a leader in the roof coating and
restoration industry which provides exclusive products for roof
and wall restoration, including an extensive line of roof
coatings.

NMBFiL is formerly known as Bondo Corporation. It is a
manufacturer of auto body repair products for the automotive
aftermarket and various other professional and consumer
applications. In November 2007, NMBFiL sold substantially all of
its assets and no longer has business operation.

Republic estimated assets of $10 million to $50 million and debt
of less than $10 million as of the bankruptcy filing.

The New Debtors have been granted, on Sept. 3, 2014, joint
administration of their Chapter 11 cases for procedural purposes
only, with the chapter 11 cases of Specialty Products Holding
Corp. and Bondex International, Inc.


TEXAS RANGERS: KPMG Tries to Duck Fraud Suit Over Ex-Owner Audit
----------------------------------------------------------------
Law360 reported that KPMG LLP again tried to avert a trial over
claims that a 2008 audit by the accounting firm allowed Dallas
private equity investor and former Texas Rangers owner Tom Hicks
to cheat lenders out of $525 million in debt, saying its audit
reports weren't actually relied upon.

According to the report, during oral arguments in a Manhattan
courtroom, KPMG attorney Michael R. Young of Willkie Farr &
Gallagher LLP told New York Supreme Court Judge Saliann Scarpulla
that deposition testimony has revealed that plaintiff-lender GSP
Finance LLC did not believe KPMG's audit reports on Hicks Sports
Group LLC were true and therefore the lender can't demonstrate
justifiable reliance.  Judge Scarpulla immediately expressed
skepticism that the issue could be resolved on a summary judgment
motion, saying that what someone believes is most often a triable
issue of fact, the report related.

The case is GSP Finance LLC v. KPMG LLP, index number 650841/2011,
in the Supreme Court of the State of New York, County of New York.

                        About Texas Rangers

Texas Rangers Baseball Partners owned and operated the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

Texas Rangers Baseball Partners filed a Chapter 11 petition
(Bankr. N.D. Tex. Case No. 10-43400) on May 24, 2010.  The
partnership filed simultaneously with the bankruptcy petition a
Chapter 11 plan that contemplated the sale of the club to an
entity formed by a group that includes the President of the Texas
Rangers, Nolan Ryan, and Chuck Greenberg, a sports lawyer and
minor league club owner.  In its petition, Texas Rangers Baseball
Partners said it had both assets and debt of less than $500
million.

Martin A. Sosland, Esq., at Weil, Gotshal & Manges LLP, served as
bankruptcy counsel to the Debtor.  Forshey & Prostok LLP acted as
conflicts counsel.  Parella Weinberg Partners LP served as
financial advisor.  Major League Baseball was represented by Sandy
Esserman, Esq., at Stutzman, Bromberg, Esserman & Plifka PC.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).  The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28, 2010 against the two companies.  The two
companies were not included in the May 24 Chapter 11 filing of
TRBP.

U.S. Bankruptcy Judge Stacey G. C. Jernigan on Aug. 5, 2010
confirmed the Debtor's fourth amended version of the Prepackaged
Plan of Reorganization.  The judge's confirmation order cleared
the way for a group of Hall of Fame pitcher Nolan Ryan, and
Pittsburgh sports attorney and minor-league team owner Charles
Greenberg to purchase the Texas Rangers.  The Ryan group paid
$385 million in cash and assumed $208 million in liabilities.  The
Ryan group outbid Dallas Mavericks owner Mark Cuban at an auction.


TRUMP ENTERTAINMENT: Union Says Lapsed Contract Can't Change
------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Unite Here Local 54, the union representing
majority of Trump Entertainment Resorts Inc.'s workers, argued in
court papers that the casino and hotel operator can't modify its
contract with workers because the collective-bargaining agreement
has already lapsed.  According to the report, the union said the
court has no power to modify a union contract that has already
expired.  The labor contract expired by its own terms 12 days
after Trump Entertainment filed for Chapter 11 protection on
Sept. 9, the report noted.

                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.


TMT GROUP: Vantage Opposes Another Appeal on Bankruptcy Loan
------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Vantage Drilling Co. said TMT Group, the
Taiwanese owner of 16 oceangoing vessels, misconstrued a ruling by
the U.S. Court of Appeals in New Orleans, which, according to
Vantage, didn't establish a rule that will preclude financing
companies reorganizing in Chapter 11.

According to the report, in mid-September, TMT asked all the
judges on the court to rehear and set aside the unsigned opinion
by the earlier three-judge appeals panel.  Vantage filed papers
with the court arguing that TMT "overstated" the three-judge
panel's opinion, pointing out that the opinion applies only to
collateral that doesn't belong to the bankrupt company, the report
related.

The appeal is Vantage Drilling Co. v. TMT Procurement Corp. (In re
TMT Procurement Corp.), 13-20622, U.S. Court of Appeals for the
Fifth Circuit (New Orleans).

                           About TMT Group

Known in the industry as TMT Group, TMT USA Shipmanagement LLC and
its affiliates own 17 vessels.  Vessels range in size from 27,000
dead weight tons (dwt) to 320,000 dwt.

TMT USA and 22 affiliates, including C. Ladybug Corporation,
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 13-
33740) in Houston, Texas, on June 20, 2013 after lenders seized
seven vessels.

TMT filed a lawsuit in U.S. bankruptcy court aimed at forcing
creditors to release the vessels so they can return to generating
income.

TMT has tapped attorneys from Bracewell & Giuliani LLP as
bankruptcy counsel and AlixPartners as financial advisors.

On a consolidated basis, the Debtors have $1.52 billion in assets
and $1.46 billion in liabilities.


UNITED AIRLINES: Sparred with DHL Over Fact-Finding in Cargo Case
-----------------------------------------------------------------
Law360 reported that United Airlines Inc. and DHL sparred at a
hearing before Brooklyn U.S. Magistrate Judge Viktor V. Pohorelsky
over how much fact-finding is needed to determine whether the
airline's legacy bankruptcy protects it from the shipper's
potentially billion-dollar antitrust suit over cargo charges, with
DHL arguing for full discovery and noting its claims span beyond
the airline's takeoff out of Chapter 11.

The case is DPWNHoldings (USA), Inc v. United Airlines, Inc., Case
No. 1:11-cv-00564 (E.D.N.Y.).

                         About UAL Corp.

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended Plan
on Jan. 20, 2006.  The company emerged from bankruptcy protection
on Feb. 1, 2006.

                        *     *     *

The Troubled Company Reporter, on Aug. 24, 2014, reported that
Standard & Poor's Ratings Services assigned its 'A- (sf)' rating
to United Airlines Inc.'s series 2014-2 class A pass-through
certificates (with an expected maturity of Sept. 3, 2026).  At the
same time, S&P assigned its 'BB+ (sf)' rating to the company's
series 2014-2 class B pass-through certificates (with an expected
maturity of Sept. 3, 2022).

The TCR, on July 30, 2014, reported that S&P assigned its
preliminary 'A-(sf)' rating to United Airlines Inc.'s series 2014-
2 class A pass-through certificates (with an expected maturity of
Sept. 3, 2026).  At the same time, S&P assigned its preliminary
'BB+ (sf)' rating to the company's series 2014-2 class B pass-
through certificates (with an expected maturity of Sept. 3, 2022).

On the same date, the TCR reported that Fitch Ratings assigned the
following expected ratings to United Airlines' (UAL, rated 'B';
Outlook Positive by Fitch) proposed Pass Through Trusts Series
2014-2: (i) $823,071,000 Class A certificates due in September
2026 'A(EXP)'; and (ii) $238,418,000 Class B certificates due in
September 2022 'BB+(EXP)'.

The TCR, on July 29, 2014, reported that S&P assigned its 'BB-'
issue rating and '1' recovery rating to United Airlines Inc.'s new
$500 million senior secured term loan B due 2021.  The '1'
recovery rating indicates S&P's expectation for very high recovery
(90%-100%) in a payment default scenario.  At the same, the 'BB-'
issue level rating and '1' recovery rating on the upsized $1.35
billion revolving credit facility due 2019 remain unchanged.

On July 28, 2014, the TCR reported that Moody's Investors Service
assigned a Ba2 rating to the $500 million incremental term loan
facility due 2021 that United Airlines, Inc. ("United") announced
it plans to arrange. The Corporate Family rating of UAL is B2.


VAIL LAKE RANCHO: Could Not File Chapter 11 Plan Until Nov. 14
--------------------------------------------------------------
Vail Lake Rancho California and its debtor-affiliates ask the Hon.
Louise DeCarl Adler of the U.S. Bankruptcy Court for the Southern
District of California to further extend their exclusive period
to:

  a) file a Chapter 11 plan until Nov. 14, 2014; and

  b) solicit acceptances of that plan through and including Jan.
     16, 2015.

A hearing is set for Nov. 6, 2014, at 2:00 p.m., at Dept. 2 in
Room 118, 325 West F Street in San Diego, California.

The Debtors say they have previously sought several extensions of
their exclusivity periods, which extensions were necessary to
stabilize their cases, conduct the diligence necessary to
formulate a plan to operate during the bankruptcy cases and
negotiate with the most important constituencies in the bankruptcy
cases, and to commence executing on that plan.  One of the main
pillars of the plan was reaching a global settlement with the
Debtors' largest secured creditors, the Debtors say.

According to the Debtors, their full attention is focused on
finishing the plan and disclosure statement.  The extension of
time will allow them to do just that, while preserving their
exclusivity periods and avoiding the distraction relating to a
chapter 11 plan filing by a party other than them.

The Debtors' current plan filing deadline was set to expire on
Oct. 1, 2014, absent an extension.

                        About Vail Lake

Vail Lake Rancho California, LLC, and its affiliates own the
California campground Vail Lake Resort. Vail Lake is a large
reservoir in western Riverside County, California, located on
Temecula Creek in the Santa Margarita River watershed,
approximately 15 miles east of Temecula, California.  Properties
cover approximately 9,000 acres and have an estimated water
storage capacity of approximately 51,000 acre-feet.

On Dec. 26, 2012, creditors of Vail Lake filed an involuntary
Chapter 11 petition (Bankr. S.D. Cal. Case No. 12-16684) for Vail
Lake.  In a filing on June 6, 2013, the Debtor said it consents to
the entry of an order for relief and does not contest the
involuntary Chapter 11 petition.

On June 5, 2013, the company sent 5 related entities -- Vail Lake
USA, LLC ("VLU"), Vail Lake Village & Resort, LLC ("VLRC"), Vail
Lake Groves, LLC, Agua Tibia Ranch, LLC, and Outdoor Recreational
Management, LLC -- to Chapter 11 bankruptcy.

The new debtors have sought and obtained an order for joint
administration of their Chapter 11 cases with Vail Lake Rancho
(Case No. 12-16684).

The Debtors are represented by attorneys at Cooley LLP and
Phillips, Haskett & Ingwalson, A.P.C.  The Debtor also employed
Thomas C. Hebrank and E3 Realty Advisors, Inc., with Mr. Hebrank
serving as the Debtors' chief restructuring officer. Lee &
Associates Commercial Real Estate Services is the real estate
brokers of the Debtors.

The Debtors' consolidated assets, as of May 31, 2013, total
$291,016,000 and liabilities total $52,796,846.


VICTOR RIVERA: Appellate Panel Warns v. Ignoring Dismissal Bid
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the United States Bankruptcy Appellate Panel
in San Francisco's Sept. 29 opinion in a case involving an
individual's Chapter 13 bankruptcy in effect said a bankrupt
consumer may have ruined his chances of shedding debt by trying to
go through Chapter 13 without a lawyer and failing to appreciate
the importance of answering motions.

According to the report, the Appellate Panel said that the Chapter
13 case shouldn't have been dismissed because the notice
automatically converted the case to Chapter 7, but said that
because the conversion notice wasn't brought to the attention of
the bankruptcy judge, the BAP said it couldn't take its existence
into account and therefore had to uphold dismissal of the Chapter
13 case.

The case is Rivera v. Curry (In re Rivera), 14-1035, 2014 BL
273479, U.S. Ninth Circuit Bankruptcy Appellate Panel (San
Francisco).


WARNER MUSIC: Eric Levin Named Chief Financial Officer
------------------------------------------------------
Warner Music Group announced two senior appointments as it
continues to enhance its ability to invest in growth opportunities
and develop its global infrastructure.  Eric Levin has been
appointed as the company's new executive vice president and chief
financial officer.  Mr. Levin succeeds Brian Roberts who is moving
to a newly created position on WMG's senior management team as
executive vice president, corporate strategy & operations.  Both
appointments are effective immediately.  Levin and Roberts both
report to WMG CEO Steve Cooper and are based in New York.

Mr. Levin is a veteran finance executive with more than 25 years'
experience in the global technology and media sectors.  He has
held CFO roles at Ecolab (North Asia Region), the South China
Morning Post Group, and HBO (Home Box Office), among others.  At
WMG, he is responsible for the company's worldwide financial
operations.

Roberts became WMG's CFO in January 2012, and was a key member of
the team that drove the acquisition and integration of Parlophone
Label Group (PLG).  In his new post, Roberts' responsibilities
include oversight of WEA Corp. (WMG's global artist & label
services arm) and Information Technology.  As an architect of
WMG's corporate global infrastructure, he will identify and
implement best practices in worldwide systems, policies and
procedures.

Cooper said, "Eric's impressive experience in global commerce and
his deep understanding of local markets make him ideal for the CFO
position.  We are very pleased to have a finance leader of his
stature step into this critical role as Brian transitions to his
important new responsibilities.  Brian has done an outstanding job
during a period of tremendous change and I'm delighted we are able
to retain his operational expertise and institutional knowledge as
we equip our organization for long-term success.  These two
appointments will accelerate the evolution of our worldwide
infrastructure, while strengthening our ability to invest in new
talent."

Levin said, "I've long admired Warner Music Group for its
incredible roster of artists, as well as its powerful combination
of scale and agility.  I'm delighted to be working with WMG's
senior management and finance teams around the world to build a
creative and commercial environment where experimentation and
entrepreneurialism can flourish."

Roberts said, "I'd like to thank Steve for this exciting new
opportunity.  I'm looking forward to helping WMG harness new
technologies to provide best-in-class services across all aspects
of our business and throughout the world.  The more nimble and
responsive our global structure, the better the results will be
for our labels, artists and songwriters."

Mr. Levin has held numerous senior executive posts in the US and
Greater China.  In 2012, he joined Ecolab Inc., the multinational
technology and manufacturing group, as the Regional Controller &
CFO for its North Asia Region.  Before that, beginning in 2009, he
was Chief Financial Officer at South China Morning Post Group.
Previously, Levin was Chief Financial Officer at HBO (Home Box
Office), and was a founding partner at the multimedia venture City
On Demand.

Roberts had served as WMG's EVP & CFO since January 2012 after
having joined the WMG family in 2007 as Senior Vice President &
CFO of Warner/Chappell Music, the company's music publishing arm.
Highlights of his tenure as WMG's CFO include helping drive the
acquisition and subsequent integration of Parlophone Label Group
(PLG); overseeing the highly successful refinancing of the
company's debt on three separate occasions; and leading the
selection and complete renovation of a new location for the
company's global headquarters in Manhattan.  Prior to joining WMG,
Roberts was SVP, Finance & Administration, North & South America
for BMG Music Publishing, preceded by stints at Zomba Music
Publishing, EMI Publishing and Ernst & Young.

Mr. Levin will receive an annual base salary of $550,000, be
eligible to participate in the Company's bonus plan, with an
annual target bonus of 60% of his base salary, or $330,000, to be
earned based on factors including the strength of his performance
and the performance of the Company, and be eligible to participate
in the Company's U.S. benefits programs, subject to the terms and
conditions of each program, and as described in the plan documents
and summary plan descriptions.

The term of Mr. Levin's employment agreement will be from Oct. 13,
2014, to Oct. 12, 2018.  In the event the Company terminates his
employment agreement for any reason other than for cause or if Mr.
Levin terminates his employment for good reason, each as defined
in the employment letter, or if the Company declines to offer
continued employment at the end of the term, Mr. Levin will be
entitled to severance benefits equal to one year of base salary.
The employment letter also contains standard covenants relating to
confidentiality and a one-year post-employment non-solicitation
covenant.

                      About Warner Music Group

Based in New York, Warner Music Group Corp. (NYSE: WMG)
-- http://www.wmg.com/-- was formed by a private equity
consortium of investors on Nov. 21, 2003.  The Company is the
direct parent of WMG Holdings Corp., which is the direct parent of
WMG Acquisition Corp.  WMG Acquisition Corp. is one of the world's
major music-based content companies and the successor to
substantially all of the interests of the recorded music and music
publishing businesses of Time Warner Inc.

The Company classifies its business interests into two fundamental
operations: Recorded Music and Music Publishing.  The Company's
Recorded Music business primarily consists of the discovery and
development of artists and the related marketing, distribution and
licensing of recorded music produced by such artists.  The
Company's Music Publishing operations include Warner/Chappell, its
global Music Publishing company, headquartered in New York with
operations in over 50 countries through various subsidiaries,
affiliates and non-affiliated licensees.

In May 2011, Warner Music Group Corp. and Access Industries, the
U.S.-based industrial group, announced the execution of a
definitive merger agreement under which Access Industries will
acquire WMG in an all-cash transaction valued at $3.3 billion.
The purchase includes WMG's entire recorded music and music
publishing businesses.

On July 20, 2011, the Company notified the New York Stock
Exchange, Inc., of its intent to remove the Company's common stock
from listing on the NYSE and requested that the NYSE file with the
SEC an application on Form 25 to report the delisting of the
Company's common stock from the NYSE.  On July 21, 2011, in
accordance with the Company's request, the NYSE filed the Form 25
with the SEC in order to provide notification of that delisting
and to effect the deregistration of the Company's common stock
under Section 12(b) of the Securities Exchange Act of 1934, as
amended.  On August 2, 2011, the Company filed a Form 15 with the
SEC in order to provide notification of a suspension of its duty
to file reports under Section 15(d) of the Exchange Act.  The
Company continues to file reports with the SEC pursuant to the
Exchange Act in accordance with certain covenants contained in the
instruments governing the Company's outstanding indebtedness.

Warner Music reported a net loss attributable to the Company $198
million on $2.87 billion of revenues for the fiscal year ended
Sept. 30, 2013, as compared with a net loss attributable to the
Company of $112 million on $2.78 billion of revenues for the
fiscal year ended Sept. 30, 2012.

As of June 30, 2014, the Company had $6.11 billion in total
assets, $5.65 billion in total liabilities and $460 million in
total equity.

                           *    *     *

As reported by the TCR on March 28, 2014, Standard & Poor's
Ratings Services affirmed its 'B+' corporate credit rating on
recorded music and music publishing company Warner Music Group
Corp. (WMG).  S&P's rating and negative outlook reflect continued
uncertainty surrounding industry wide revenue and profitability
trends affecting WMG over the intermediate term, despite recent
signs of stabilization in the industry.


WESTLAKE VILLAGE: Hires ERLP as Special Litigation Counsel
----------------------------------------------------------
Westlake Village Property, LP seeks authorization from the U.S.
Bankruptcy Court for the Central District of California to employ
Enenstein, Ribakoff, LaVina & Pham APC ("ERLP") as special
litigation and real estate counsel, effective Sept. 9, 2014.

The services to be performed by ERLP include but are not limited
to working with and advising the Debtor and Debtor's bankruptcy
counsel, and carrying on the State Court litigation involving the
disputed primary asserted creditor of Debtor's estate, depending
on the automatic stay, and advising on real estate issues.

Hourly rates for members of ERLP vary from $525-$625 for partners,
$475-$510 for counsel, $325-$425 for associates, $200-$250 for
paralegals, and $165 for clerks.  In the State Court Action, and
the representation contemplated herein, ERLP is offering a
"maximum discounted rate" for partners of $450/hour, $325-$425 for
counsel, $295-$325 for associates, $150 for paralegals, and $150
for clerks.  Teri T. Pham, the attorney at ERLP primarily handling
the case, normally bills at the rate of $575 per hour but offers a
discounted rate of $450/hour for this matter.

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

Teri T. Pham, partner of ERLP, 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.

ERLP can be reached at:

       Teri T. Pham, Esq.
       ENENSTEIN RIBAKOFF LAVINA & PHAM APC
       233 Wilshire Boulevard, Suite 400
       Santa Monica, CA 90401
       Tel: (310) 899-2070
       Fax: (310) 496-1930
       E-mail: tpham@enensteinlaw.com

                      About Westlake Village

Westlake Village Property, LP, sought Chapter 11 bankruptcy
protection (Bankr. C.D. Cal. Case No. 14-bk-11980) in Santa
Barbara, California, on Sept. 9, 2014.

The case is assigned to Judge Deborah J. Saltzman.

The Westlake Village, California-based entity, Single Asset Real
Estate as defined in 11 U.S.C. Sec. 101(51B), estimated $10
million to $50 million in assets and $1 million to $10 million in
debt.

The Company is represented by Leslie A Cohen, Esq., at Leslie
Cohen Law PC, in Santa Monica, California, as counsel.

The schedules of assets and liabilities and the statement of
financial affairs are due Sept. 23, 2014.

An affiliate, Mid-Wilshire Property, LP sought bankruptcy
protection on Sept. 7, 2014 (Case No. 14-11960), which case is
also pending before Judge Saltzman.


WSP HOLDINGS: NYSE Delists Shares; Commences Trading on OTC Pink
----------------------------------------------------------------
WSP Holdings Limited on Oct. 15 announced the following:

WSP Holdings Delisted from NYSE, Commences Trading on OTC Pink(R)
Marketplace

On September 13, 2014, the Company received a notice from NYSE
Regulation, Inc. ("NYSE Regulation") that NYSE Regulation had
determined to commence proceedings to delist the American
Depositary Shares (the "ADSs") of the Company from the New York
Stock Exchange ("NYSE").  NYSE Regulation reached its decision to
delist the ADSs pursuant to Listed Company Manual ("LCM") Section
802.01B because the Company had fallen below the NYSE's continued
listing standard requiring listed companies to maintain a minimum
average global market capitalization over a consecutive 30 trading
day period of at least $15,000,000.  Trading in the Company's ADSs
was suspended prior to the opening of trading on the NYSE on
September 16, 2014.  Under the NYSE delisting procedure, the
Company had a right to a review of this determination by a
committee of the Board of Directors of NYSE Regulation.  The
Company decided to not request such a review.

In the notice, NYSE Regulation also referenced the Company's
having previously fallen below the NYSE's continued listing
standard in Section 802.01C of the LCM requiring listed companies
to maintain an average closing price per share of not less than
$1.00 over a consecutive 30 trading day period and the Company's
noncompliance with Section 802.01E of the LCM due to its failure
to file its Form 20-F for the fiscal year ended December 31, 2013
by the applicable due date.

The Company's ADSs are now being traded on the OTC Pink(R)
Marketplace under the symbol "WSHLY."

Initiation of Bankruptcy Proceeding Involving Wuxi Seamless Oil
Pipes Co., Ltd.

On September 30, 2014, a supplier of Wuxi Seamless Oil Pipes Co.,
Ltd. ("Wuxi Seamless"), the Company's main operating subsidiary
and which holds over half of the Company's assets and historically
has generated the majority of the Company group's consolidated
revenues, applied to the local court for Wuxi Seamless to enter
bankruptcy proceedings due to Wuxi Seamless' not having timely
paid amounts outstanding to such supplier.  On October 9, 2014,
the court ruled that Wuxi Seamless enter into a bankruptcy re-
structuring proceeding.  On October 10, 2014, an administrator was
appointed by the court to begin the process of examining Wuxi
Seamless' business and assets to see how they might best be
utilized to satisfy the claims for unpaid loans and other amounts
outstanding made by Wuxi Seamless' lenders and other creditors.

Additional Foreclosure Actions on Company Subsidiaries Initiated
by Lenders

Wuxi Seamless is in default of a RMB90,000,000 loan from a bank
which it has been unable to repay when due, and the bank has
commenced to foreclose on some of the assets of Wuxi Seamless.
Liaoyang Seamless Oil Pipe Co., Ltd.?"Liaoyang Seamless"), which
is a former subsidiary of the Company which was disposed in
December 2013 (see the Company's press release on March 19, 2014
), has a RMB105,000,000 loan from the same bank which continues to
be guaranteed by Wuxi Seamless, other subsidiaries of the Company,
including Songyuan Seamless Oil Pipe Co., Ltd. and Bazhou Seamless
Oil Pipe Co., Ltd., and Tuoketuo County Mengfeng Special Steel
Co., Ltd., a former subsidiary of the Company which was disposed
in December 2013 (as announced in a press release on March 19,
2014).  Liaoyang Seamless was unable to repay this loan when due,
and as a result, in September 2014, the bank has proceeded to
foreclose some of the assets of Wuxi Seamless. The proceeding is
ongoing.

In September 2014, a bank initiated an action in a local court in
China to foreclose on some of the assets of Wuxi Seamless and
Songyuan Seamless Oil Pipe Co., Ltd. ("Songyuan Seamless"), a
subsidiary of Wuxi Seamless, to satisfy amounts due to this bank.
At the time of the initiation of this action, Songyuan Seamless
owed approximately RMB78,000,000 to this bank, and such amount is
guaranteed by Wuxi Seamless and Mr. Longhua Piao, Chairman and
Chief Executive Officer of the Company.

As previously announced in a press release of the Company dated
August 18, 2014, Bazhou Seamless Oil Pipe Co., Ltd. ("Bazhou
Seamless"), a subsidiary of Wuxi Seamless and a significant
subsidiary of the group which has an asset size of approximately
25% of the group and generates no revenue, has received orders
from the local court granting certain lenders of Bazhou Seamless'
bank loans on which interest is overdue foreclosure applications
on assets, including bank deposits and other properties of Bazhou
Seamless, and the guarantors of these loans, which include Wuxi
Seamless.

Resignations of Independent Directors

Dennis Zhu, Michael Muhan Liu and Weidong Wang, independent
directors on the board of directors of the Company, tendered
resignations from the board of directors of the Company, effective
October 6, 2014.  In addition, Xizhong Xu tendered his resignation
from his position as director on the board of directors, effective
October 8, 2014.  Mr. Zhu, Mr. Liu, Mr. Wang and Mr. Xu resigned
from their respective positions due to personal or other reasons.
In connection with, and effective upon, their respective
resignations from the board of directors of the Company, each of
Mr. Zhu, Mr. Liu and Mr. Wang resigned from all of their
respective positions on the audit, compensation and corporate
governance and nominating committees of the board of directors of
the Company.

Following the resignations of Mr. Zhu, Mr. Liu, Mr. Wang and
Mr. Xu, the Company's board of directors consists of Longhua Piao,
who is also Chief Executive Officer of the Company, and Jing Lu,
who is an independent director, and Mr. Lu is the only member of
the audit committee, compensation committee and corporate
governance and nominating committee of the board of directors of
the Company.

                   About WSP Holdings Limited

Based in Xinqu, Wuxi, Jiangsu Province, People's Republic of
China, WSP Holdings Limited is a Chinese manufacturer of seamless
Oil Country Tubular Goods ("OCTG)", including casing, tubing and
drill pipes used for oil and natural gas exploration, drilling and
extraction.  OCTG refers to pipes and other tubular products used
in the exploration, drilling and extraction of oil, gas and other
hydrocarbon products.

WSP Holdings Limited reported a net loss of $76.80 million on
$686.13 million of revenues for 2011, compared with a net loss of
$132.75 million on $470.47 million of revenues for 2010.

The Company's balance sheet at Dec. 31, 2011, showed
$1.571 billion in total assets, $1.340 billion in total
liabilities, and total equity of $231.38 million.

                       Going Concern Doubt

MaloneBailey LLP, in Houston, Texas, expressed substantial doubt
about WSP Holdings Limited's ability to continue as a going
concern, following the Company's results for the fiscal year ended
Dec. 31, 2011.  The independent auditors said: "As discussed in
Note 2(a) to the consolidated financial statements, the fact that
the Company suffered significant operating loss and had working
capital deficiency while a significant amount of short-term
borrowings is required to be refinanced raises substantial doubt
about the Company's ability to continue as a going concern."


YELLOWSTONE MOUNTAIN: 9th Circ. Upholds Contempt for Founder
------------------------------------------------------------
The U.S. Court of Appeals for the Ninth Circuit affirmed a
district court's finding of contempt against Timony Blixseth,
founder of the Yellowstone Mountain Club ski resort, over his sale
of a Mexico resort property included in the company's bankruptcy
in defiance of an injunction.

According to Law360, a three-judge panel concluded that the
sanctions imposed against Mr. Blixseth were remedial and that the
contempt ruling was therefore civil in nature and not
inappropriate.  Bill Rochelle and Sherri Toub, bankruptcy
columnists for Bloomberg News, related that in February this year,
a Montana district court ordered Mr. Blixseth to pay at least
$13.8 million after violating an order barring him from selling a
resort in Mexico.  Mr. Blixseth, according to the Bloomberg
report, contended that the sanction was criminal in nature and
that proper procedures weren't followed in finding him in
contempt.
                     About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


* For-Profit Colleges Unlikely to See Ch. 11 Fix Soon
-----------------------------------------------------
Law360 reported that with for-profit college operators all but
barred from reorganizing under Chapter 11, the battered industry
has seen a rash of disruptive breakups that experts say will
continue without a bankruptcy solution that Congress appears
unwilling to provide.  According to the report, facing stiff
economic headwinds and intense scrutiny from regulators, several
for-profit college operators have been forced to liquidate or wind
down outside of court in recent months because of a federal
statute that forever revokes an operator's eligibility for federal
student aid after a bankruptcy petition.  Losing student aid is a
death sentence for these institutions, which rely on Uncle Sam for
a huge percentage of their cash flow, the report said.


* Dorsey Partner Annette Jarvis Named TMA Board Trustee
-------------------------------------------------------
International law firm Dorsey & Whitney LLP on Oct. 16 disclosed
that Annette Jarvis, a partner in the Firm's Bankruptcy and
Financial Restructuring Group and a member of the Firm's
Management Committee, has been named a Turnaround Management
Association (TMA) Global Board Trustee.  The announcement was made
during The TMA Annual Conference in Toronto, Canada.  Ms. Jarvis
will serve a two-year term on TMA Global's Board of Trustees.

TMA is the leading organization dedicated to turnaround
management, corporate restructuring, and distressed investing.
Established in 1988, TMA has more than 9,300 members in 49
chapters worldwide, including 31 in North America.  Members
include turnaround practitioners, attorneys, accountants,
investors, lenders, venture capitalists, appraisers, liquidators,
executive recruiters, and consultants, as well as academic,
government, and judicial employees.

Ms. Jarvis has extensive experience in representing financial
institutions, debtors, trustees, examiners, creditors' committees,
creditors, indenture trustees, equity holders, public bond holders
and purchasers of assets in Chapter 11 bankruptcy cases.  She also
represents receivers in state and federal receivership cases, and
has been involved in state insurance rehabilitations and
liquidations. Ms. Jarvis is a frequent lecturer on insolvency
related topics.

"We are extremely pleased that Annette has been named to the TMA's
Board of Trustees," noted Dorsey Managing Partner Ken Cutler.  "It
is great that another of our women partners is recognized for her
expertise and being at the top of her profession."

                   About Dorsey & Whitney LLP

Clients have relied on Dorsey since 1912 as a valued business
partner.  With locations across the United States and in Canada,
Europe and the Asia-Pacific region, Dorsey provides an integrated,
proactive approach to its clients' legal and business needs.
Dorsey represents a number of the world's most successful
companies from a wide range of industries, including leaders in
the banking, energy, food and agriculture, health care,
infrastructure, and mining sectors, as well as major non-profit
and government entities.


* BOOK REVIEW: Competitive Strategy for Health Care
               Organizations: Techniques for Strategic Action
-------------------------------------------------------------
Authors: Alan Sheldon and Susan Windham
Publisher: Beard Books
Softcover: 190 pages
List Price:  $34.95
Review by Francoise C. Arsenault

Order your personal copy today at http://bit.ly/1nqvQ7V

Competitive Strategy for Health Care Organizations: Techniques for
Strategic Action is an informative book that provides practical
guidance for senior health care managers and other health care
professionals on the organizational and competitive strategic
action needed to survive and to be successful in today's
increasingly competitive health care marketplace. An important
premise of the book is that the development and implementation of
good competitive strategy involves a profound understanding of
change. As the authors state at the outset: "What may need to be
done in today's environment may involve great departure from the
past, including major changes in the skills and attitudes of
staff, and great tact and patience in bringing about the necessary
strategic training."

Although understanding change is certainly important in most
fields, the authors demonstrate the particular importance of
change to the health care field in the first and second chapters.
In Chapter 1, the authors review the three eras of medical care
(individual medicine, organizational medicine, and network
medicine) and lay the groundwork for their model for competitive
strategy development. Chapter 2 describes the factors that must be
taken into account for successful strategic decision-making. These
factors include the analysis of the environmental trends and
competitive forces affecting the health care field, past, current,
and future; the analysis of the competitive position of the
organization; the setting of goals, objectives, and a strategy;
the analysis of competitive performance; and the readaptation of
the business, if necessary, through positioning activities,
redirection of strategy, and organizational change.

Chapters 3 through 7 discuss in detail the five positioning
activities that are part of the model and therefore critical to
the development and implementation of a successful strategy:
scanning; product market analysis; collaboration; restructuring;
and managing the physician. The chapter on managing the physician
(Chapter 7) is the only section in the book that appears dated
(the book was first published in 1984). In this day of physician-
owned hospitals and physician-backed joint ventures, it is
difficult to envision the physician in the passive role of "being
managed." However, even the changing role of physicians since the
book's first publication correlates with the authors' premise that
their model for competitive strategic planning is based exactly on
understanding and anticipating change, which is no better
illustrated than in health care where change is measured not in
years but in months. These middle chapters and the other chapters
use a mixture of didactic presentation, graphs and charts,
quotations from famous individuals, and anecdotes to render what
can frequently be dry information in an entertaining and readable
format.

The final chapter of the book presents a case example (using the
"South Clinic") as a summary of many of the issues and strategic
alternatives discussed in the previous chapters. The final chapter
also discusses the competitive issues specific to various types of
health care delivery organizations, including teaching hospitals,
community hospitals, group practices, independent practice
associations, hospital groups, super groups and alliances, nursing
homes, home health agencies, and for-profits. An interesting quote
on for-profits indicates how time and change are indeed important
factors in strategic planning in the health care field: "Behind
many of the competitive concerns.lies the specter of the for-
profits. Their competitive edge has lain until now in the
excellence of their management. But developments in the past half-
decade have shown that the voluntary sector can match the for-
profits in management excellence. Despite reservations that may
not always be untrue, the for-profit sector has demonstrated that
good management can pay off in health care. But will the voluntary
institutions end up making the same mistakes and having the same
accusations leveled at them as the for-profits have? It is
disturbing to talk to the head of a voluntary hospital group and
hear him describe physicians as his potential competitors."


                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to the nation's bankruptcy courts.  The
list includes links to freely downloadable of these small-dollar
petitions in Acrobat PDF documents.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


                  *** End of Transmission ***