TCR_Public/141025.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, October 25, 2014, Vol. 18, No. 297

                            Headlines

ARCHDIOCESE OF MILWAUKEE: Net Loss Down to $487,859 in September
CLOUDEEVA INC: Records $289,199 Net Profit at Aug. 31
FL 6801 SPIRITS: Has $313,135 Net Loss in August
HDOS ENTERPRISES: Cash Balance Increases to $8.51MM at Aug. 31
LIGHTSQUARED INC: Lists $64.8 Million Net Loss in September

MACKEYSER HOLDINGS: Incurs $3.28 Million Net Loss in July
NE OPCO: Cash Balance Slightly Down to $751,074 at Sept. 30
PSL-NORTH AMERICA: Suffers $3.27 Million Net Loss in August
RAPID-AMERICAN CORP: Cash Balance Down to $4.39MM at Sept. 30
RG STEEL: Incurs $2.008 Million Net Loss in September

SGK VENTURES: Ends September with $24.27 Million Cash
STELERA WIRELESS: Had $12.23 Million in Total Assets at Aug. 31
VERTIS HOLDINGS: Posts $49,390 Net Loss in August


                             *********

ARCHDIOCESE OF MILWAUKEE: Net Loss Down to $487,859 in September
----------------------------------------------------------------
The Archdiocese of Milwaukee, on Oct. 15, 2014, filed its monthly
operating report for the month of Sept. 2014.

The Archdiocese incurred a net loss of $487,859 in September on
net sales of $1.34 million, a decrease from the $1.26 million net
loss suffered for the previous month.

At Sept. 30, the Archdiocese declared total assets of $40.16
million, total liabilities of $43.04 million, and a total
shareholders' equity of -$2.88 million.

The Archdiocese had $8.65 million cash at Sept. 1.  It posted
total receipts of $2.19 million and total disbursements of $2.73
million for the month.  The Archdiocese ended September with $8.27
million cash.

A copy of the monthly operating report is available at:

http://bankrupt.com/misc/ARCHDIOCESEOFMILWAUKEEsept2014mor.pdf

                About Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wis. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.


CLOUDEEVA INC: Records $289,199 Net Profit at Aug. 31
-----------------------------------------------------
Cloudeeva, Inc. filed, on Oct. 10, 2014, a monthly operating
report for the period from July 21 through August 31, 2014.

The Debtor recorded a net profit of $289,199 on net revenues of
$2.35 million for the current reporting period.

At August 31, the Debtor had total assets of $42 million, total
liabilities of $9.58 million, and a total shareholders' equity of
$32.42 million.

The Debtor started the period with a cash balance of -$139,839.
It posted total receipts of $1.91 million and total disbursements
of $1.31 million.  At August 31, the Debtor had a cash balance of
$458,657.

A copy of the monthly operating report is available at:

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

                     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.


FL 6801 SPIRITS: Has $313,135 Net Loss in August
------------------------------------------------
FL 6801 Spirits, LLC, et al., filed, on Sept. 30, 2014, their
monthly operating report for August 2014.

The Debtors' consolidated statement of operations showed a net
loss of $313,135 in September on net revenues of $1,701.

At Aug. 31, the Debtors declared total assets of $13.59 million,
total liabilities of $20.74 million, and a total shareholders'
equity of $7.15 million.

FL 6801 Spirits LLC had $4,177 cash at August 1.  It recorded
total receipts of $338,221 and total disbursements of $339,768.
The disbursements include professional fees of $288,855.  At the
end of the month, the Debtors had $2,631 cash.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/FL6801SpiritsmorAugust.pdf

                    About FL 6801 Spirits

FL 6801 Spirits LLC, a wholly owned subsidiary of Lehman Brothers
Holdings Inc. and three of its wholly owned subsidiaries filed
voluntary Chapter 11 petitions, seeking bankruptcy protection for
their condominium hotel property in Miami Beach.  The affiliates
are FL 6801 Collins North LLC, FL 6801 Collins Central LLC, and FL
6801 Collins South LLC.

FL Spirits' Canyon Ranch Living Hotel and Spa is a luxury full-
service, ocean front condominium hotel located at the site of the
old Carillon Hotel in Miami Beach, Florida.  The current operator
of the hotel, Canyon Ranch Living, is not a debtor, and operations
at the property are expected to continue without interruption.

FL Spirits and the three affiliates companies have sought joint
administration, with pleadings to be maintained at FL 6801's case
docket (Bankr. S.D.N.Y. Lead Case No. 14-11691).

FL Spirits has tapped Togut, Segal & Segal LLP as general
bankruptcy counsel, Shutts & Bowen LLP as special real estate
counsel, CBRE, Inc., as real estate broker, and Prime Clerk as
claims and notice agent.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Lehman's Chapter 11 plan became
effective on March 6, 2012.


HDOS ENTERPRISES: Cash Balance Increases to $8.51MM at Aug. 31
--------------------------------------------------------------
HDOS Enterprises filed, on Oct. 3, 2014, filed its monthly
operating report for the month of August 2014.

The Debtor had $1.14 million cash at August 1.  It posted total
receipts of $9.66 million and total disbursements of $2.29
million.  At month end, the Debtor had $8.51 million cash.

A copy of the monthly operating report is available at:

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

                   About Hot Dog On A Stick

Established in 1946 in Southern California, Hot Dog On A Stick --
http://www.hotdogonastick.com-- is known for its fair-inspired
menu of corn dogs, lemonades, and a sampling of other menu items
such as cheese on a stick, hot dog in a bun, fries, and funnel
cake sticks.  HDOS is owned by its employees.

HDOS Enterprises sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 14-12028) on Feb. 3,
2014.  The case is assigned to Judge Neil W. Bason.

The Debtor's counsel is represented by Jerome Bennett Friedman,
Esq., Stephen F. Biegenzahn, Esq., and Michael D. Sobkowiak, Esq.,
at Friedman Law Group, P.C., in Los Angeles, California.  Rust
Consulting Omni Bankruptcy, a division of Rust Consulting, serves
as claims, noticing and balloting agent.  The Law Offices of Brian
H. Cole serves as special counsel.  The petition was signed by Dan
Smith, president and CEO.

The U.S. Trustee has appointed three members to an official
committee of unsecured creditors.  The Committee retained Jeffrey
N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones LLP, in Los
Angeles, California, as counsel.


LIGHTSQUARED INC: Lists $64.8 Million Net Loss in September
-----------------------------------------------------------
LightSquared Inc., et al., filed on October 15, 2014, a monthly
operating report for the month ended September 30, 2014.

The Company reported a net loss of $64.8 million on net revenue of
$1.534 million for September, as compared to a $81.448 million net
loss for the previous month.

As of September 30, 2014, the Company had total assets of $3.57
billion, total liabilities of $3.392 billion, and total
stockholders' equity of $178.38 million.

At the beginning of the month, LightSquared had $17.78 million in
cash.  The Company had total cash receipts of $23.94 million and
total cash disbursements of $6.66 million for September.  As a
result, at the end of September, the Company had total cash of
$35.06 million.

A full-text copy of the September monthly operating report is
available at http://is.gd/D5FfPx

                     About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


MACKEYSER HOLDINGS: Incurs $3.28 Million Net Loss in July
---------------------------------------------------------
MacKeyser Holdings LLC, et al. on Oct. 3, 2014, filed their
monthly operating report for the month of July 2014.

The Debtors incurred a net loss of $3.28 million on net revenues
of $2.48 million for the month.

At July end, the Debtors posted total assets of $21.06 million,
total liabilities of $55.68 million, and a total shareholders'
equity of -$34.62 million.

The Debtors had $1.24 million cash at the beginning of the month.
They reported total receipts of $2.42 million and total
disbursements of $3.51 million.  At the end of the month, the
Debtors had $379,452 cash.

A copy of the monthly operating report is available at:

   http://bankrupt.com/misc/MACKEYSERHOLDINGSjuly2014mor.pdf

                   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.


NE OPCO: Cash Balance Slightly Down to $751,074 at Sept. 30
-----------------------------------------------------------
NE Opco, Inc., dba National Envelope, and its debtor-affiliates,
on Oct. 14, 2014, filed a monthly operating report for the month
of September 2014.

The Debtors' statement of operations showed a net loss of $27,880
on zero sales for the month.

At Sept. 30, the Debtors posted $953,366 in total assets, $135.72
million in total liabilities, and -$134.77 million in total
shareholders' equity.

The Debtors had $838,858 cash at Sept. 1.  They recorded $87,784
in net cash used in operating activites for the month.  Thus, at
the end of the month, the Debtors had $751,074 cash.

A copy of the monthly operating report is available at:

        http://bankrupt.com/misc/NEOPCOsept2014mor.pdf

                      About NE OPCO, Inc.

National Envelope is the largest privately-held manufacturer of
envelopes in North America.  Headquartered in Frisco, Texas,
National Envelope has eight plants and 15 percent of the envelope
market.  Revenue of $427 million in 2012 resulted in a $60.1
million net loss, continuing an unbroken string of losses since
2007.

NE OPCO, Inc., doing business as National Envelope, along with
affiliate NEV Credit Holdings, Inc., filed petitions seeking
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 13-11483) on June 10, 2013.

The company disclosed liabilities including $148.4 million in
secured debt, with $37.5 million owing on a revolving credit and
$15.6 million on a secured term loan.  There is a $55.7 million
second-lien debt 82 percent held by a Gores Group LLC affiliate.

National Envelope, then known as NEC Holdings Corp., first sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 10-11890) on
June 10, 2010.  The business was bought by Gores Group LLC for
$208 million in a bankruptcy sale.

National Envelope, through NE OPCO, has returned to bankruptcy to
pursue a plan of reorganization or sell the assets as a going
concern via 11 U.S.C. Sec. 363.  The Debtor plans to facilitate a
sale of the business with publicly traded competitor Cenveo Inc.

In the 2013 case, the company tapped the law firm Richards, Layton
& Finger as counsel, PricewaterhouseCoopers LLP as financial
adviser, and Epiq Bankruptcy Solutions as claims and notice agent.

The Gores Group is represented by Weil, Gotshal and Manges LLP and
Lowenstein Landler LLP.  Salus Capital Partners, the DIP agent, is
represented by Choate, Hall & Stewart LLP and Morris Nichols Arsht
& Tunnell LLP.   Wells Fargo Capital Finance, LLC, the prepetition
senior agent, is represented by Goldberg Kohn Ltd and DLA Piper.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP's Laura Davis Jones, Esq.,
Bradford J. Sandier, Esq., Robert J. Feinstein, Esq., and Peter J.
Keane, Esq.  Guggenheim Securities, LLC, serves as its investment
banker and financial advisor.

National Envelope won court approval on July 19, 2013, for a
global settlement permitting a sale of the company without
objection from the official unsecured creditors' committee.  The
settlement ensures some recovery for unsecured creditors.  The
Company also won final approval for $67.5 million in bankruptcy
financing being supplied by Salus Capital Partners LLC.

Judge Christopher Sontchi authorized three buyers to acquire
National Envelope's business for a total of about $70 million.
Connecticut-based printer Cenveo Inc. acquired National Envelope's
operating assets for $25 million, Hilco Receivables LLC picked up
accounts receivable for $25 million and Southern Paper LLC took on
its inventory for $15 million.


PSL-NORTH AMERICA: Suffers $3.27 Million Net Loss in August
-----------------------------------------------------------
PSL-North America LLC  filed, on Oct. 7, 2014, a monthly operating
report for the month of August 2014.

The Debtor suffered a net loss of $3.27 million over net revenues
of $230,209 in August.

At Aug. 31, the Debtor had total assets of $127.53 million, total
liabilities of $137.80 million, and a total shareholders' equity
of -$10.26 million.

The Debtor started the month with a cash balance of $731,854.  It
listed $7.77 million in total receipts and $7.62 million in total
disbursements.  It spent $1.91 million in professional fees.  At
the end of the month, the Debtor had a cash balance of $882,635.
Deducting prepetition cash of $401,562, the Debtor had $481,702
available cash at the end of the month.

A copy of the monthly operating report is available at:

     http://bankrupt.com/misc/PSL-NorthAmericamorAugust.pdf

                    About PSL-North America

Founded in 2006, PSL-North America LLC is a manufacturer and
coater of large diameter steel pipes.  The company has a state-of-
the-art facility located in Bay St. Louis, Mississippi, with the
land leased for 99 years.  The company is an American-based
partially owned subsidiary of India's largest producer and
manufacturer of steel piping, PSL Limited.

On June 16, 2014, PSL-North America LLC and PSL USA Inc., filed
voluntary petitions in Delaware (Lead Case No. 14-11477) seeking
relief under chapter 11 of the United States Bankruptcy Code.  The
Debtors' cases have been assigned to Judge Peter J. Walsh.

The Debtors seek to have their cases jointly administered
for procedural purposes.

PSL-North America LL disclosed $93,343,085 in assets and
$204,025,409 in liabilities as of the Chapter 11 filing.  As of
the Petition Date, the company had total outstanding debt
obligations of $130 million, according to a court filing.

Proposed counsel for the Debtor are John H. Knight, Esq., Paul N.
Heath, Esq., Tyler D. Semmelman, Esq., Amanda R. Steele, Esq. and
William A. Romanowicz, Esq. at Richards, Layton & Finger, P.A.
of Wilmington, Delaware.   Epiq Bankruptcy Solutions serves as
claims agent.


RAPID-AMERICAN CORP: Cash Balance Down to $4.39MM at Sept. 30
-------------------------------------------------------------
Rapid-American Corporation, on Oct. 15, 2014, filed its monthly
operating report for September 2014.

The Debtor reported a total income of $113 for the month.

The Debtor had $4.46 million cash at the beginning of the month.
It posted $69,795 in total expenses, which includes $27,681 in
professional fees.  At the end of the month, the Debtor had $4.39
million cash.

A copy of the monthly operating report is available at:

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

                  About Rapid-American Corp.

Rapid-American Corp. filed for Chapter 11 bankruptcy protection in
Manhattan (Bankr. S.D.N.Y. Case No. 13-10687) on March 8, 2013, to
deal with debt related to asbestos personal-injury claims.

New York-based Rapid-American was formerly a holding company with
subsidiaries primarily engaged in retail sales and consumer
products and was never engaged in an asbestos business of any
kind.  Through a series of merger transactions going back more
than 45 years, Rapid has nevertheless incurred successor liability
for personal injury claims arising from plaintiffs' exposure to
asbestos-containing products sold by The Philip Carey
Manufacturing Company -- Old Carey -- as that entity existed prior
to June 1, 1967.

Attorneys at Reed Smith LLP serve as counsel to the Debtor.

The Debtor disclosed assets in excess of $4,446,261 and unknown
liabilities.

The Official Committee of Unsecured Creditors retained Caplin &
Drysdale, Chartered, as counsel.  Gilbert LLP serves as special
insurance counsel.

Young Conaway Stargatt & Taylor, LLP, represents Lawrence
Fitzpatrick, the Future Claimants' Representative, as counsel.


RG STEEL: Incurs $2.008 Million Net Loss in September
-----------------------------------------------------
WP Steel Ventures, LLC, et al., on Oct. 13, 2014, filed their
monthly operating report for the month ended September 30, 2014.

The Company posted a net loss of $2.008 million for September on
zero sales, a decrease from the $2.998 million net loss incurred
in August.

As of September 30, 2014, the Company had total assets of $23.825
million, total liabilities of $1.035 billion, and total
stockholders' deficit of $1.011 billion.

The Company had total cash receipts of $1.997 million and total
disbursements of $247,000 for the month of September.

A full-text copy of the monthly operating report is available at:

                       http://is.gd/oKlDU3

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'
fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owned Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012.  Bankruptcy was precipitated by liquidity
shortfall and a dispute with Mountain State Carbon, LLC, and a
Severstal affiliate, that restricted the shipment of coke used in
the steel production process.

The Debtors estimated assets and debts in excess of $1 billion.
As of the bankruptcy filing, the Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by Cerberus Business Finance, LLC, as agent, (iii) $130.5 million
on account of a subordinated promissory note issued by majority
owner The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.  Conway MacKenzie, Inc., serves as the Debtors' financial
advisor and The Seaport Group serves as lead investment banker.
Donald MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

Kramer Levin Naftalis & Frankel LLP represents the Official
Committee of Unsecured Creditors.  Huron Consulting Services LLC
serves as the Committee's financial advisor.

The Debtor has sold off the principal plants.  The sale of
the Wheeling Corrugating division to Nucor Corp. brought in
$7 million.  That plant in Sparrows Point, Maryland, fetched the
highest price, $72.5 million.  CJ Betters Enterprises Inc. paid
$16 million for the Ohio plant.  RG Steel Sparrows Point LLC has
received the green light to sell some of its assets to Siemens
Industry, Inc., which include equipment and related spare parts,
for $400,000.


SGK VENTURES: Ends September with $24.27 Million Cash
----------------------------------------------------
SGK Ventures, LLC, f/k/a Keywell LLC, on Oct. 21, 2014, filed a
monthly operating report for the month of September 2014.

The Debtor started September with a cash balance of $24.46
million.  It posted total receipts of $572,779 and total
disbursements of $764,328.  At the end of the month, the Debtor
had $24.27 million cash.

A copy of the monthly operating report is available at:

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

                    About Keywell L.L.C.

Keywell L.L.C., a supplier of scrap titanium and stainless steel,
filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 13-37603)
on Sept. 24, 2013.  Mark Lozier signed the petition as president
and CEO.

Keywell LLC first filed schedules disclosing $22,515,017 in total
assets, and $35,025,633 in total liabilities.  In its amended
schedules, Keywell disclosed $22,546,386 in total assets and
$39,361,793 in total liabilities.  As reported in the Troubled
Company Reporter on May 12, 2014, the Debtor filed an amended
summary of schedules disclosing assets of $22,602,974 and
liabilities of $37,181,354.

Judge Eugene R. Wedoff presides over the case.

Howard L. Adelman, Esq., Chad H. Gettleman, Esq., Henry B. Merens,
Esq., Brad A. Berish, Esq., Mark A. Carter, Esq., Adam P.
Silverman, Esq., and Nathan Q. Rugg, Esq., at Adelman & Gettleman
Ltd. serve as the Debtor's counsel.  Alan B. Patzik, Esq., Steven
M. Prebish, Esq., and David J. Schwartz, Esq., at Patzik, Frank &
Samotny Ltd. serve as the Debtor's special counsel.  Eureka
Capital Markets, LLC, serves as the Debtor's investment banker,
while Conway MacKenzie, Inc., serves as its financial advisors.

The Debtor's lenders are represented by Steven B. Towbin, Esq.,
and Gordon E. Gouveia, Esq., at Shaw Fishman Glantz & Towbin LLC,
in Chicago, Illinois.

The United States Trustee for Region 11 appointed an Official
Committee of Unsecured Creditors.  The panel has hired David A.
Agay, Esq., Sean D. Malloy, Esq., Scott N. Opincar, Esq., Joshua
A. Gadharf, Esq., and T. Daniel Reynolds, Esq., at McDonald
Hopkins LLC as counsel.  Alvarez & Marsal North America, LLC,
serves as financial advisors to the Committee.

In December 2013, the Bankruptcy Court formally approved the sale
of the Debtor's assets to KW Metals Acquisition LLC for $15.8
million.  The original offer was from Cronimet Holdings Inc. for
$12.5 million cash.

Keywell LLC changed its name and case caption to "SGK Ventures,
LLC" following the sale.


STELERA WIRELESS: Had $12.23 Million in Total Assets at Aug. 31
---------------------------------------------------------------
Stelera Wireless, LLC, filed, on Oct. 10, 2014, filed its monthly
operating report for the month of August 2014.

At Aug. 31, the Debtors had $12.23 million in total assets and
$14,673 in total current liabilities.

The Debtor started August with a cash balance of $12.27 million.
It listed zero receipts and $31,261 in total disbursements for the
month.  As a result, the Debtor had a cash balance of $23.23
million.

A copy of the monthly operating report is available at:

     http://bankrupt.com/misc/STELERAWIRELESSaug2014mor.pdf

                 About Stelera Wireless, LLC

Stelera Wireless, LLC, filed a Chapter 11 petition (Bankr. W.D.
Okla. Case No. 13-13267) on July 18, 2013.  Tim Duffy signed the
petition as chief technology officer/manager.  Judge Niles L.
Jackson presides over the case.  The Debtor disclosed $18,005,000
in assets and $30,809,314 in liabilities as of the Chapter 11
filing.

Christensen Law Group, PLLC, serves as the Debtor's primary
counsel.  Mulinix Ogden Hall & Ludlam, PLLC, serves as additional
bankruptcy counsel.  Wilkinson Barker Knauer, LLP, serves as the
Debtor's special counsel.  American Legal Claims Services, LLC
serves as official noticing agent.  Falkenberg Capital Corporation
serves as the Debtor's broker.

The official committee of unsecured creditors is represented by
attorneys G. Blaine Schwabe, III, Esq., John (Jake) M. Krattiger,
Esq., at GableGotnals' Oklahoma City office; and Sidney K.
Surinson, Esq., Mark D.G. Sanders, Esq., and Brandon C. Bickle,
Esq., at GableGotnals' Tulsa office.

                           *     *     *

The Troubled Company Reporter reported on Dec. 10, 2013, the Hon.
Niles Jackson of the U.S. Bankruptcy Court for the Western
District of Oklahoma authorized Stelera Wireless to sell its
Federal Communications Commission licenses to: AT&T Mobility
Spectrum LLC, as purchaser; and Atlantic Tele-Network, Inc., as
backup purchaser.  In an auction held Nov. 20, 2013, AT&T's bid
was the highest and best offer for the FCC licenses, while
Atlantic's, the stalking horse purchaser, was the second highest.
Pursuant to the APA, the aggregate purchase price to be paid by
AT&T will be $6,020,000.


VERTIS HOLDINGS: Posts $49,390 Net Loss in August
-------------------------------------------------
Vertis Holdings, Inc., at al., on Oct. 16, 2014, filed their
monthly operating report for August 2014.

The Debtors posted a net loss of $49,390 with zero sales in
August, an improvement from the $557,122 net loss incurred for the
previous month.

At Aug. 31, the Debtors had total assets of $5.48 million, total
liabilities of $429.50 million, and a total shareholders' equity
of -$424.02 million.

The Debtors started the month with $757,760 cash.  They listed
total receipts of $21,076 nad total disbursements of $70,466.  The
disbursements include professional fees of $55,620.  At August 31,
the Debtors had $708,280 cash.

A copy of the monthly operating report is available at:

       http://bankrupt.com/misc/VERTISHOLDINGSaug2014mor.pdf

                      About Vertis Holdings

Vertis Holdings Inc. -- http://www.thefuturevertis.com/--
provides advertising services in a variety of print media,
including newspaper inserts such as magazines and supplements.

Vertis and its affiliates (Bankr. D. Del. Lead Case No. 12-12821),
returned to Chapter 11 bankruptcy on Oct. 10, 2012, this time to
sell the business to Quad/Graphics, Inc., for $258.5 million,
subject to higher and better offers in an auction.

As of Aug. 31, 2012, the Debtors' unaudited consolidated financial
statements reflected assets of approximately $837.8 million and
liabilities of approximately $814.0 million.

Bankruptcy Judge Christopher Sontchi presides over the 2012 case.
Vertis is advised by Perella Weinberg Partners, Alvarez & Marsal,
and Cadwalader, Wickersham & Taft LLP.  Quad/Graphics is advised
by Blackstone Advisory Partners, Arnold & Porter LLP and Foley &
Lardner LLP, special counsel for antitrust advice.  Kurtzman
Carson Consultants LLC is the Debtors' claims agent.

Quad/Graphics is a global provider of print and related
multichannel solutions for consumer magazines, special interest
publications, catalogs, retail inserts/circulars, direct mail,
books, directories, and commercial and specialty products,
including in-store signage. Headquartered in Sussex, Wis. (just
west of Milwaukee), the Company has approximately 22,000 full-time
equivalent employees working from more than 50 print-production
facilities as well as other support locations throughout North
America, Latin America and Europe.

Vertis first filed for bankruptcy (Bankr. D. Del. Case No. 08-
11460) on July 15, 2008, to complete a merger with American Color
Graphics.  ACG also commenced separate bankruptcy proceedings.  In
August 2008, Vertis emerged from bankruptcy, completing the
merger.

Vertis against filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 10-16170) on Nov. 17, 2010.  The Debtor estimated its
assets and debts of more than $1 billion.  Affiliates also filed
separate Chapter 11 petitions -- American Color Graphics, Inc.
(Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr.
S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case
No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-
16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and
Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174).  The
bankruptcy court approved the prepackaged Chapter 11 plan on Dec.
16, 2010, and Vertis consummated the plan on Dec. 21.  The plan
reduced Vertis' debt by more than $700 million or 60%.

GE Capital Corporation, which serves as DIP Agent and Prepetition
Agent, is represented in the 2012 case by lawyers at Winston &
Strawn LLP.  Morgan Stanley Senior Funding Inc., the agent under
the prepetition term loan, and as term loan collateral agent, is
represented by lawyers at White & Case LLP, and Milbank Tweed
Hadley & McCloy LLP.

On Jan. 16, 2013, Quad/Graphics completed the acquisition of
Vertis Holdings for a net purchase price of $170 million.  This
assumes the purchase price of $267 million less the payment of $97
million for current assets that are in excess of normalized
working capital requirements.


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Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
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The Sunday TCR delivers securitization rating news from the week
then-ending.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
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