TCR_Public/141107.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, November 7, 2014, Vol. 18, No. 310

                            Headlines

AG-PILOTS INC: Voluntary Chapter 11 Case Summary
AGFEED INDUSTRIES: Court Confirms Ch. 11 Liquidation Plan
ALLEGHENY TECHNOLOGIES: Moody's Cuts Sr. Unsecured Rating to Ba1
ALLY FINANCIAL: Files Form 10-Q, Posts $423MM Net Income in Q3
ALTEGRITY INC: NSA Contractor Seeks to Cut Debt

ANTELOPE VALLEY: Moody's Affirms Ba2 Bond Rating; Outlook Neg.
AMERICAN AXLE: Posts $48.6 Million Net Income in Third Quarter
ANTELOPE VALLEY: Moody's Assigns Ba2 Rating on New $700MM Notes
APOLLO MEDICAL: Acquires Majority Stake in Apollo Palliative
ARCAPITA BANK: RA Holding Enters Into Agreement to Sell Lusail

BERNARD L. MADOFF: Solus & SPV Not Entitled to Settlement Refund
BROADWAY FINANCIAL: Director Renata Simril Quits
CANYON COMPANIES: Moody's Affirms B2 Corporate Family Rating
CARECORE NATIONAL: Moody's Affirms B2 Corporate Family Rating
CAROLINE WYLY: Seeks Ch. 11 Protection in Face of $101M SEC Debt

CHANNEL CONSTRUCTION: Alaska Judge Defers Ruling on McGee Fees
COMMUNITYONE BANCORP: Posts $1.8-Mil. Net Income in 3rd Quarter
CONEX INTERNATIONAL: Trustee Fails in Tax Suit vs. Parent Company
CT TECHNOLOGIES: Moody's Assigns B2 Corporate Family Rating
CTI BIOPHARMA: Seeking Add'l Capital, May File for Bankruptcy

DETROIT, MI: Seeks Court Order Confirming Inapplicability of Stay
DIGITAL DOMAIN: To Return $18MM in Tax Credits to Florida
DISH DBS: Fitch Assigns 'BB-' Rating on $1.25-Bil. Sr. Notes
DISH DBS: Moody's Assigns Ba3 Rating on New $1.25BB Unsec. Notes
DISH DBS: S&P Assigns 'BB-' Rating on $1.25BB Sr. Unsecured Notes

DOVER DOWNS: Posts $699,000 Net Earnings in Third Quarter
DOVER DOWNS: Posts $699,000 Net Earnings in Third Quarter
EC SEQUIM: Case Summary & 4 Unsecured Creditors
EDGEFIELD INN: Creditor Wins Dismissal of Chapter 11 Case
EMMANUEL COLLEGE: Misses Nov. 1 Bond Payment Deadline

EMPIRE RESORTS: Stephen Haberkorn Owns 7.9% Equity Stake
EMPIRE TOWERS: Clawback Suit Against Bank of Glen Burnie Tossed
ENDEAVOUR INT'L: Restructuring Support Agreement Filed
ENERGY FUTURE: Posts $49MM Net Income in Third Quarter
ENERGY FUTURE: U.S. Trustee Balks at Employment of Ernst & Young

EXIDE TECHNOLOGIES: Enters Into Plan Support Pact With Noteholders
FALCON STEEL: Committee Seeks to Retain Deloitte as Fin'l Advisor
FALCON STEEL: Panel Objects to Exclusive Period Extensions
FALCON STEEL: Texas Capital Bank Wants Short Plan Extension
FINJAN HOLDINGS: Amends Employment Agreement With CFO

FIRED UP: Gets Court Approval to Borrow $450,000 from IBW
FOUR OAKS: Imposes Restrictions on Common Stock Transfer
FRATERFOOD SERVICE: Landlord's $76K Claim for April Rent Okayed
GBG RANCH: Hearing on Case Dismissal Continued Sine Die
GENERAL MOTORS: Ignition-Switch Trial Set for January 2016

GLOBAL COMPUTER: Insists No Conflict of Interest for McGuireWoods
GLOBAL GEOPHYSICAL: Confirmation Hearing Set for Dec. 9
GREEN EARTH: Registers 65.1 Million Shares for Resale
GT ADVANCED: Governmental Units Have Until April 6 to File Claims
GT ADVANCED: To Unveal Secret Documents With Apple

GREEN BRICK: Completes Acquisition of JBGL for $275 Million
GREEN BRICK: Third Point Reports 16.7% Equity Stake
HAGOOD RESERVE: Cambridge Properties Starts Tearing Down Project
HAMPDEN COUNTY PHYSICIANS: Wants Ch 11 Case Converted to Ch 7
HDGM ADVISORY: Cayman Islands Funds Fret Over Less Cash

HERFF JONES: Moody's Puts 'B2' CFR on Review for Downgrade
HOVNANIAN ENTERPRISES: Unit Selling $250 Million Senior Notes
HRK HOLDINGS: Seeks to Extend Further Exclusivity Periods
INERGETICS INC: James Kras Appointed as Director
INTERCORP RETAIL: Fitch Affirms 'BB' Issuer Default Rating

IPC INT'L: Suit v. Milwaukee Golf Transferred to N.D. Illinois
IVANHOE RANCH: Nov. 13 Hearing on Settlement of Creditor Dispute
JACKSONVILLE BANCORP: Robert Goldstein Named New Director
KEMET CORP: Reports $6.3 Million Net Income in Second Quarter
KEMET CORP: Files Third Quarter Form 10-Q

LAKELAND INDUSTRIES: Completes $11.1 Million Private Placement
LEHMAN BROTHERS: Bankr. Court Disallows Former Employees' Claims
LEHMAN BROTHERS: Trustee Mulls Wind-Down of Bankruptcy Estate
LEVEL 3: S&P Raises Corp. Credit Rating to 'BB-'; Outlook Stable
LINCOLN PARK: S&P Affirms 'BB' Rating on 2010 GOLT Bonds

LONESTAR GENERATION: S&P Affirms 'BB-' Rating on Upsized Term Loan
LUKEN COMMUNICATIONS: Ends Equity Comms Fight, To Exit Ch. 11
MAMMOTH RESOURCE: Judge to Decide Fate of Company's Bankruptcy
MARION ENERGY: Secured Lender Objects to DIP Financing Request
MAVERICK INT'L: Case Summary & 20 Largest Unsecured Creditors

MEDSOLUTIONS HOLDINGS: Moody's Affirms B2 Corporate Family Rating
MICHAEL DILWORTH: Hudson Americas Loses Bid to Lift Stay
MILK SPECIALTIES: Moody's Lowers Corporate Family Rating to Caa1
MINT LEASING: Plans to Buy 100% of MotorMax for $30 Million
MISSION NEW ENERGY: Had A$809,000 in Cash at September 30

MISSION NEW ENERGY: Had A$809,000 in Cash at September 30
MISSISSIPPI PHOSPHATES: Has Interim $5MM DIP Financing Approval
MISSISSIPPI PHOSPHATES: Amends Largest Unsecured Creditors List
MISSISSIPPI PHOSPHATES: Seeks to Employ BMC as Claims Agent
MISSISSIPPI PHOSPHATES: Has Interim OK to Pay Insurance Premiums

MOMENTIVE SPECIALTY: Four Directors Resigned
MUD KING: Mazelle Krasoff Seeks to Withdraw as Counsel
MUSCLEPHARM CORP: Revises Previously Filed Financial Reports
NAARTJIE CUSTOM: Hilco Retained to Sell Naartjie Kids Brand
NATROL INC: Bankrupt Vitamin Maker Gets Nod for Nov. 10 Auction

NEPHROS INC: Amends 5 Million Shares Prospectus
NET TALK.COM: Seeks to Annul President's Action
NEW YORK MART: Case Summary & 10 Largest Unsecured Creditors
NORTEL NETWORKS: Asks Court to Approve Hewlett-Packard Settlement
NNN 3500 MAPLE 26: Wins Confirmation of Joint Chapter 11 Plan

OMNICARE INC: S&P Lowers Subordinated Debt Rating to 'B+'
ORMET CORP: Gets Nod to Dismiss Chapter 11 Case
PENGUIN DRIVE-IN: Manager Gives Up Restaurant; Sale Uncertain
PHOENIX REALTY: Bank Lender to Hold Foreclosure Sale on Dec. 5
PINNACLE ENTERTAINMENT: To Spin Off REIT At Investor's Behest

POSITIVEID CORP: Signs $234,500 Securities Purchase Agreements
PRAYOSHA 1 INC: Case Summary & 20 Largest Unsecured Creditors
PRESSURE BIOSCIENCES: Presented at FSXinterlinked Conference
RECYCLE SOLUTIONS: Section 341(a) Meeting Scheduled for Dec. 1
REVEL AC: Wants Contract With Chief Operations Officer Rejected

REVEL AC: 5th Interim Order Authorizing DIP Financing Entered
ROOSTER ENERGY: Moody's Withdraws Caa1 Corporate Family Rating
SACHIDANAND INVESTMENTS: Case Summary & 14 Top Unsec. Creditors
SAMUEL WYLY: SEC Slams Tycoon's Bankruptcy Budget as "Staggering"
SAMUEL WYLY: NY Judge Freezes Billionaire's Foreign Accounts

SAN BERNARDINO, CA: Allowed to Reject Firefighters' CBA
SCIENTIFIC GAMES: S&P Assigns 'BB-' Rating on New $700MM Sr. Notes
SCIENTIFIC GAMES: Files Third Quarter Form 10-Q With SEC
SEVEN GENERATIONS: Moody's Hikes Corporate Family Rating to B2
SHASTA ENTERPRISES: Secured Creditor Won't Consent to Cash Use

SHASTA ENTERPRISES: Section 341(a) Meeting Set for Dec. 5
SHELBOURNE NORTH: Related Midwest Takes Control of Chicago Spire
SIAG AERISYN: $2.6MM Clawback Suit Against SSAB Goes to Trial
SIGA TECHNOLOGIES: Posts $240,076,761 Net Loss for Sept. 30 Qtr
SIGA TECHNOLOGIES: Stipulation on Cash Use Has Final Approval

SIMON WORLDWIDE: Three Lions to Voluntarily Liquidate
SKYLINE MANOR: Gets 7th Interim Approval on Cash Collateral Use
SON P. DANG: Wrongful Foreclosure Suit Dismissed
THEOBLOCK S.A.: Foreclosure Sale Set for Dec. 5
THOMAS JEFFERSON SCHOOL: S&P Cuts Rating on 2008A Bonds to 'D'

TIBCO SOFTWARE: S&P Assigns Prelim. 'B-' CCR; Outlook Stable
TRUMP ENTERTAINMENT: Bankruptcy Hearing in Name Fight Postponed
TRUMP ENTERTAINMENT: Gets Final OK to Fund Case With Icahn Cash
TRUMP ENTERTAINMENT: Disclosure Statement Hearing Set for Nov. 14
TSC SIEBER: 5th Cir. Vacates Ruling on $345,000 in Funds

TW TELECOM: S&P Lowers CCR to 'BB-' & Removes From Watch
U.S. COAL: Add'l Debtors to Have Same Advisors
U.S. COAL: JAD Gets Access to Lenders' Collateral Until January
U.S. COAL: JAD Access to Caterpillar Collateral Extended
UNITEK GLOBAL: Obtains Court Approval for First-Day Motions

UNITEK GLOBAL: New Mountain Puts First Lien on Non-Accrual Status
VERITEQ CORP: Names Marc Gelberg Chief Accounting Officer
VILLAGE AT KNAPP'S: Lormax & Visser Want to Buy Property
WALTER ENERGY: Incurs $98.9 Million Net Loss in Third Quarter
WALTER ENERGY: Incurs $98.9 Million Net Loss in Third Quarter

ZOGENIX INC: Signs Waiver Agreement With Purdue Pharma

* Heraldnet.com Reports 8 Snohomish County Bankr. Filings in Sept.
* Omaha.com Reports 18 Ch 7 & 3 Ch 13 Filings as of Oct. 31

* American College of Bankruptcy to Induct Peggy Hunt as Fellow

* BOOK REVIEW: The Sorcerer's Apprentice - Medical Miracles
               and Other Disasters


                             *********


AG-PILOTS INC: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Ag-Pilots, Inc.
           dba Thrash Aviation
        676 Highway 481
        Pelahatchie, MS 39145

Case No.: 14-03584

Chapter 11 Petition Date: November 5, 2014

Court: United States Bankruptcy Court
       Southern District of Mississippi
       (Jackson-3 Divisional Office)

Judge: Hon. Edward Ellington

Debtor's Counsel: Craig M. Geno, Esq.
                  LAW OFFICES OF CRAIG M. GENO, PLLC
                  587 Highland Colony Pkwy.
                  Ridgeland, MS 39157
                  Tel: 601 427-0048
                  Fax: 601-427-0050
                  Email: cmgeno@cmgenolaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jimmy Thrash, president.

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


AGFEED INDUSTRIES: Court Confirms Ch. 11 Liquidation Plan
---------------------------------------------------------
Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware on Nov. 4, 2014, issued a findings of fact,
conclusions of law and order confirming AgFeed USA, LLC, et al.'s
revised second amended Chapter 11 plan of liquidation, which is
supported by the Official Committee of Equity Security Holders.

The Debtors, prior to the Nov. 4 confirmation hearing, filed an
amended supplement for its Revised Second Amended Chapter 11 Plan.
According to BankruptcyData, the Amended Plan Supplement has been
amended to include a revised Liquidating Trust Agreement and a
reduced Insider Subordinated Claim Reserve, in the amount of
$139,000, which is consistent with the settlement agreements with
certain parties resolving their objections to the Plan.  Law360
reported that the confirmation order was signed after the Debtors
said they have settled nearly all of the objections to the plan.

As previously reported by The Troubled Company Reporter, the Plan
provides for substantive consolidation of the Consolidated AgFeed
USA Debtors and the liquidation of the Debtors' assets.  The
majority of the Debtors' assets have been liquidated, and the Plan
provides for the estates' assets to be allocated and distributed
to holders of allowed claims and interests.  Holders of General
Unsecured Claims, estimated to total $3,764,429, will recover 100%
of their allowed claims.  Holders of secured claims, estimated to
total $1,456, and holders of priority non-tax claims, estimated to
total $832, will also recover 100% of their allowed claims.

                  Exclusivity Expires Jan. 16

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware extended the period by which AgFeed USA, LLC,
et al., have exclusive right to file a plan until Nov. 17, 2014,
and the period by which they have exclusive right to solicit
acceptances of that plan until Jan. 16, 2015.

Judge Shannon on Nov. 4, 2014, issued an order confirming the
Debtors' revised second amended Chapter 11 plan of liquidation,
which is supported by the Official Committee of Equity Security
Holders.

                    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.


ALLEGHENY TECHNOLOGIES: Moody's Cuts Sr. Unsecured Rating to Ba1
----------------------------------------------------------------
Moody's Investors Service downgraded the senior unsecured ratings
of Allegheny Technologies Inc. (ATI) and Allegheny Ludlum
Corporation (guaranteed by ATI) to Ba1 from Baa3. At the same
time, Moody's assigned a Ba1 Corporate Family Rating (CFR), a Ba1-
PD probability of default rating and a SGL-2 speculative grade
liquidity rating to ATI. The rating outlook is stable. This
concludes the review for downgrade initiated on August 28, 2014.

The downgrade reflects Moody's expectation that despite ATI's good
market positions, technological competencies and favorable long
term contracts, particularly in the aerospace industry, a return
to financial metrics appropriate for an investment grade company,
on a sustainable basis, is unlikely until at least late 2016 or
into 2017. Current key metrics such as EBIT/interest and
debt/EBITDA of 0.4x and 7.7x respectively (reflecting Moody's
standard adjustments) for the twelve months ended September 30,
2014 are expected to show only slow improvement through 2015 and
into 2016 given various push outs on jet engine programs and ramp
up and costs associated with the hot rolling and processing
facility (HRPF) and the titanium sponge facility at Rowley.
Additionally, ATI's degree of improvement remains vulnerable to
the aero build rate and projects in the oil and gas industry,
which could slow given current market conditions and the recent
drop in oil prices, which if sustained could result in project
delays. While ATI has recently announced the signing of two
important long term agreements (LTA's) for jet engine programs,
Moody's believe that the benefit of these agreements will flow
through to earnings performance over an extended time frame. Given
where ATI stands on the aero build rate in terms of product supply
and likely slowing of oil and gas projects, EBIT/interest is
expected to remain below 2.5x and debt/EBITDA above 4x through
most of 2016.

Assignments:

Issuer: Allegheny Technologies Incorporated

Corporate Family Rating, Assigned Ba1

Probability of Default Rating, Assigned Ba1-PD

Speculative Grade Liquidity Rating, Assigned SGL-2

Downgrades:

Issuer: Allegheny Technologies Incorporated

Multiple Seniority Shelf May 29, 2015, Downgraded to (P)Ba1 from
(P)Baa3

Senior Unsecured Regular Bond/Debenture Jun 1, 2019, Downgraded
to Ba1, LGD4 from Baa3

Senior Unsecured Regular Bond/Debenture Jan 15, 2021, Downgraded
to Ba1, LGD4 from Baa3

Senior Unsecured Regular Bond/Debenture Aug 15, 2023, Downgraded
to Ba1, LGD4 from Baa3

Outlook Actions:

Issuer: Allegheny Technologies Incorporated

Outlook, Changed To Stable

Downgrades:

Issuer: Allegheny Ludlum Corporation

Senior Unsecured Regular Bond/Debenture Dec 15, 2025, Downgraded
to Ba1, LGD4 from Baa3

Outlook Actions:

Issuer: Allegheny Ludlum Corporation

Outlook, Changed To Stable

Ratings Rationale

ATI's Ba1 CFR reflects the company's position as a leading
producer of specialty titanium and titanium alloys, nickel-based
alloys and super alloys and its technological capabilities, which
provide the company with the ability to fulfill customers' unique
product requests. Through ATI Forged Products, the company also
has capabilities in forging, casting and machining, particularly
to the aerospace industry. In addition, the company's increasing
global footprint provides greater diversity to its customer base
and earnings generation.

The Ba1 CFR rating incorporates Moody's expectation for improving
profitability and strengthening debt protection metrics as well as
adequate cash flow generation to cover requirements through the
economic cycle although over a time horizon that extends well into
2016. However, Moody's expect that the return to more robust
metrics will occur gradually, driven by continued strengthening in
higher value-added product sales and strength in the aerospace
markets, a key end market for the company. Given the importance of
the jet engine market to improved performance, and the slower
build out rate, this is likely to take time to translate into
improved earnings performance. In addition , while the ramp up of
the HRPF facility continues as well as the Rowley titanium sponge
facility will contribute to inefficiencies over the near term, the
moderation in capital expenditures will contribute to an improving
cash flow generation position. Other factors captured in the
rating include the volatility of the company's end markets and its
relatively moderate size.

The Ba1 rating on the senior unsecured instruments under Moody's
loss given default methodology reflects the fact that these debt
instruments are at parity in the capital structure with other debt
instruments. Should the revolving credit facility become secured,
as provided for in the recent amendment to this facility, the
unsecured note ratings could be negatively impacted.

The SGL-2 speculative grade liquidity rating reflects the
company's $264 million cash position at September 30, 2014 and
availability under its $400 million revolving credit facility
expiring May 31, 2018 (unused at September 30, 2014). The company
amended the revolving credit facility in October 2014 to adjust
the leverage and interest coverage ratios. In addition the
amendment included a springing lien on receivables and inventory
should, among other factors, the company be rated below investment
grade by both Moody's and Standard and Poor's. Given ATI's
liquidity availability, minimal debt maturity profile, and reduced
capital expenditures, the company is expected to be able to cover
requirements within its overall liquidity profile although free
cash flow could be modestly negative.

The stable outlook reflects Moody's expectations that the severe
downward deterioration has bottomed and that earnings performance
and cash flow generation will slowly improve over the next twelve
to eighteen months. The outlook also reflects ATI's good contract
position and customer relationships, which will lead to improving
performance as requirements for the company's products increases
over this time frame.

Given the expectation for only a gradual improvement in financial
metrics, a rating upgrade is unlikely over the next twelve to
eighteen months. However, the ratings could be positively impacted
should debt/EBITDA be sustainable at no more than 3x, the EBIT
margin reach and be sustainable at 8% and (operating cash flow
less dividends)/debt reach and be sustained at 30%. The outlook or
ratings could be negatively impacted should the company not
evidence sequential quarterly improvement such that the
debt/EBITDA ratio trends to no more than 4x and EBIT/interest
trends toward 2.5x

The principal methodology used in these ratings 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.

Headquartered in Pittsburgh, Pennsylvania, ATI is a diversified
producer and distributor of components and specialty metals such
as titanium and titanium alloys, nickel-based alloys and stainless
and specialty steel alloys. For the twelve months ended September
30, 2014 the company generated revenues of $4.1 billion


ALLY FINANCIAL: Files Form 10-Q, Posts $423MM Net Income in Q3
--------------------------------------------------------------
Ally Financial Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q for the period ended
Sept. 30, 2014.

For the three months ended Sept. 30, 2014, Ally reported net
income of $423 million on $2.10 billion of total financing revenue
and other interest income compared to net income of $91 million on
$2.03 billion of total financing revenue and other interest income
for the same period during the prior year.

For the nine months ended Sept. 30, 2014, the Company reported net
income of $973 million on $6.28 billion of total financing revenue
and other interest income compared to net income of $257 million
on $6 billion of total financing revenue and other interest income
for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $149.19
billion in total assets, $134 billion in total liabilities and
$15.19 billion in total equity.

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

                       http://is.gd/JVWDra

                       About Ally Financial

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

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

                           *     *     *

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

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

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


ALTEGRITY INC: NSA Contractor Seeks to Cut Debt
-----------------------------------------------
Matt Jarzemsky, writing for Daily Bankruptcy Review, reported that
the company that vetted Edward Snowden is in talks with creditors
to cut its roughly $1.7 billion in debt after losing key U.S.
government contracts.  According to the report, citing people
familiar with the matter, Altegrity Inc. is trying to reach a
restructuring deal with creditors ahead of a January interest
payment that it may not be able to afford.

Altegrity provides background investigations for the U.S.
government; employment background and mortgage screening for
commercial customers; technology-driven legal services and
software for data management; and investigative, analytic,
consulting, due diligence, and security services. Altegrity is
principally owned by investment funds affiliated with Providence
Equity Partners. Annual revenues are approximately $1.5 billion.

                         *     *     *

The Troubled Company Reporter, on Sept. 23, 2014, reported that
Standard & Poor's Ratings Services lowered its corporate credit
rating on Falls Church, Va.-based Altegrity Inc. to 'CCC-' from
'CCC+'.  At the same time, S&P lowered its rating on the senior
secured asset-backed revolver (ABL) and first-lien debt to 'CCC'
from 'B-'.  The recovery ratings on the ABL and first-lien debt
are '2', indicating that lenders could expect substantial (70% to
90%) recovery in the event of a payment default.

On Sept. 16, 2014, the TCR reported that Moody's Investors Service
downgraded Altegrity's corporate family rating (CFR) to Caa3, from
Caa2, its probability of default rating to Caa3-PD, from Caa2-PD,
and changed the outlook for Altegrity's ratings to negative, from
stable.


ANTELOPE VALLEY: Moody's Affirms Ba2 Bond Rating; Outlook Neg.
--------------------------------------------------------------
Moody's Investors Service has affirmed the Ba2 rating assigned to
Antelope Valley Healthcare District's bonds. The outlook remains
negative.

Summary Ratings Rationale

Affirmation of the Ba2 rating is based on a review of financial
results through September 30, 2014 that exhibit low levels of
operating performance and cash flow that remain below budget
following a challenging fiscal year (FY) 2014 ended June 30.
Liquidity balances have fallen somewhat due to the timing of
certain supplemental payments, but Moody's expect liquidity to
improve over the course of the year as supplemental payments are
received.

Strengths

* AVHD expects to receive up to $30 million in supplemental
   funding in FY 2015 (not including meaningful use payments);
   the organization has received $72 million in supplemental
   funding over the last three years from a variety of programs
   including California provider fee and intergovernmental
   transfer monies.

* The hospital has exhibited some stabilization of core
   operating profitability in recent months, although delays in
   receipt of certain supplemental money mean that consolidated
   margins are still weak.

* AVHD holds a very strong market position with only one smaller
   hospital (Lancaster Community, 6,000 admissions) competing in
   the primary service area, and AVHD provides a number of unique
   services.

Challenges

* Supplemental funding receipts are irregular and not always
   known at the start of the year, making accurate budgeting and
   forecasting difficult. Absent supplemental funding, the
   hospital would have negative cash flow; growth of supplemental
   funding relative to internally generated cash flow is the
   result of declining core operating performance.

* Cost cutting initiatives are taking effect more slowly than
   originally anticipated.

* AVHD's defined benefit pension plan is significantly
   underfunded and will require much higher cash contributions
   over the next several years. Cash contributions could rise
   from the current $8 million to $12 to $13 million.

Outlook

The negative outlook reflects Moody's view that operating
performance remains weak and that there is risk of further margin
deterioration if the organization is unable to improve upon recent
operating performance levels.

What Could Make The Rating Go UP

The rating is unlikely to be upgraded over the near term. Longer
term an upgrade will be considered if the organization
demonstrates consistent and higher levels of profitability and
cash flow, and if it can improve its liquidity position, and
address an upcoming debt maturity in 2017.

What Could Make The Rating Go DOWN

The rating could be downgraded if AVHD's operating performance
does not improve. Additional factors leading to a downgraded
include additional debt, significant delays in the receipt of
supplemental funding that stresses liquidity balances and
jeopardizes AVHD's ability to meet its liquidity covenant, or an
inability to meet the rate covenant.

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


AMERICAN AXLE: Posts $48.6 Million Net Income in Third Quarter
--------------------------------------------------------------
American Axle & Manufacturing Holdings, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing net income of $48.6 million on $950.8 million of
net sales for the three months ended Sept. 30, 2014, compared to
net income of $31.6 million on $820.8 million of net sales for the
same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported net
income of $134.4 million on $2.75 billion of net sales compared to
net income of $64.7 million on $2.37 billion of net sales for the
same period a year ago.

As of Sept. 30, 2014, the Company had $3.22 billion in total
assets, $3.05 billion in total liabilities and $169.3 million in
total stockholders' equity.

"In the third quarter of 2014, AAM's financial results were
highlighted by strong cash flow and solid profitability driven by
continued sales growth and improvements in operational stability
and productivity.  Based on our progress through the first three
quarters of the year, AAM is on track to deliver more than $100
million of positive free cash flow for the full year 2014," said
David C. Dauch, AAM's chairman, president & chief executive
officer.  "AAM's improved free cash flow execution is helping to
reduce our balance sheet leverage and is strengthening our ability
to invest in the continued development of innovative new product,
process and systems technologies designed to provide our customers
with measurable gains in fuel efficiency and power density, as
well as improved safety, ride and handling performance."

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

                        http://is.gd/RmLTAF

                        About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- manufactures,
engineers, designs and validates driveline and drivetrain systems
and related components and chassis modules for light trucks, sport
utility vehicles, passenger cars, crossover vehicles and
commercial vehicles.

                           *     *     *

In September 2012, Moody's Investors Service affirmed the 'B1'
Corporate Family Rating (CFR) and Probability of Default Rating
(PDR) of American Axle.

American Axle carries a 'BB-' corporate credit rating from
Standard & Poor's Ratings Services.  "The 'BB-' corporate credit
rating on American Axle reflects the company's 'weak' business
risk profile and 'aggressive' financial risk profile, which
incorporate substantial exposure to the highly cyclical light-
vehicle market," S&P said, as reported by the TCR on Sept. 6,
2012.

As reported by the TCR on Sept. 1, 2014, Fitch Ratings had
upgraded the Issuer Default Ratings (IDRs) of American Axle &
Manufacturing Holdings, Inc. (AXL) and its American Axle &
Manufacturing, Inc. (AAM) subsidiary to 'BB-' from 'B+'.  The
upgrade of the IDRs for AXL and AAM is supported by the
fundamental improvement in the drivetrain and driveline supplier's
credit profile over the past several years.


ANTELOPE VALLEY: Moody's Assigns Ba2 Rating on New $700MM Notes
---------------------------------------------------------------
Moody's Investors Service revised Antelope Valley.'s (Omnicare)
rating outlook to stable from negative and upgraded its
Speculative Grade Liquidity rating to SGL-3 from SGL-4. Moody's
also affirmed Omnicare's Ba3 Corporate Family Rating (CFR) and
Ba3-PD Probability of Default Rating. At the same time, Moody's
assigned a Ba2 rating to the company's proposed $700 million
senior unsecured notes while lowering the rating of existing
senior unsecured credit facilities to Ba2 from Baa3, and the
rating of the senior subordinated notes to B1 from Ba3. Moody's
also affirmed the B2 rating on the senior debentures and PIERS
trust preferred.

Omnicare intends to use the proceeds from the new bond issuance,
combined with cash on hand, to repay all $400 million senior
subordinated notes due 2020 and refinance a portion of other
outstanding debt obligations, including certain convertible
indebtedness, and pay fees and expenses. Omnicare also completed
an exchange agreement under which it retired approximately $241.5
million aggregate principal amount outstanding of the 3.25% Senior
Convertible Debentures due 2035 with a put date of 12/14/15 in
exchange for an identical amount of new 3.25% Senior Convertible
Exchange Debentures due 2035 and a put date of 1/15/21. The
exchange extends the put date by six years on approximately 56% of
the outstanding 2035 bonds, diminishing potential liquidity needs.

The revision of rating outlook to stable incorporates the
company's improved liquidity position as a result of the
refinancing transactions and Moody's expectation that the company
will prudently manage its potential cash needs on an ongoing basis
-- including claims related to in-the-money convertibles and
putable instruments -- in order to maintain an adequate liquidity.
The stable outlook also reflects Moody's view that the company's
operating performance will likely improve modestly over the next
year, leading to gradual improvement in credit metrics.

The upgraded liquidity rating of SGL-3 reflects Omnicare's
improved liquidity position post the proposed refinancing. Moody's
expects that following the refinancing, the company will generate
sufficient cash flow and maintain adequate cash and revolver
availability to fully fund the contingent cash liability that
could arise from potential redemption of all of the in-the-money
convertible bonds, as well as other cash needs including the
holders' put right in December 2015 on the remaining $186 million
non-exchanged 2035 convertible bonds. Moody's anticipates cash,
projected free cash flow and unused revolver capacity will exceed
potential cash needs for convertible and putable instruments by at
least $100 million over the next 12-15 months.

The Ba2 rating on the new bonds, that are rated at the same level
as the senior unsecured bank facilities, reflects the senior
unsecured guarantee from certain of the company's existing and
future direct and indirect domestic subsidiaries. The notes and
guarantees will be general senior unsecured obligations ranking
equally in right of payment with the guarantors' existing and
future senior unsecured debt, including borrowings under the
senior credit facilities. The rating changes on the existing
senior credit facilities and subordinated notes mainly reflect the
shift in the capital structure mix. The increase in senior
unsecured debt and reduction in senior subordinated debt reduces
recovery expectations for both classes in a distressed scenario
based on Moody's Loss Given Default methodology.

Moody's took the following rating actions:

Rating upgraded for Omnicare, Inc.:

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

Rating assigned to Omnicare, Inc. (subject to Moody's review of
final documents):

  New senior unsecured notes due 2022 at Ba2, LGD2

  New senior unsecured notes due 2024 at Ba2, LGD2

Ratings affirmed: (LGD assessment revised)

Omnicare, Inc.

  Corporate Family Rating at Ba3

  Probability of Default Rating at Ba3-PD

  Convertible Senior Debentures at B2,LGD 5

Omnicare Capital Trust II

  Backed PIERS Trust Preferreds at B2,LGD 6

Omnicare Capital Trust I

  Backed PIERS Trust Preferreds at B2,LGD 6

Ratings downgraded for Omnicare, Inc.:

  Senior Unsecured Term Loan A to Ba2, LGD 2 from Baa3,LGD2

  Senior Unsecured Revolver to Ba2, LGD 2 from Baa3,LGD2

  Senior Subordinated Notes to B1, LGD 4 from Ba3, LGD 4

  Convertible Senior Subordinate Notes to B1, LGD 4 from Ba3,
  LGD 4

Moody's expects to withdraw the Ba3 rating on the senior
subordinated notes due 2020 upon closing.

Omnicare, Inc.'s rating outlook revised to stable from negative

Rating Rationale

Omnicare's Ba3 CFR reflects its moderately high financial leverage
and risks associated with ongoing reimbursement challenges.
Although Omnicare is large relative to other Ba3 rated companies
based on revenues and has a leading national position in this
niche market, the company still contends with competitive
pressures, largely from local market players. Operating
challenges, including reduced skilled nursing facility occupancy
levels and script volume, are likely to continue. Healthcare
reform legislation and reimbursement challenges facing both
Omnicare and its customers -- including health plans and nursing
homes -- are key risks for the long term care pharmacy sector.
Providing some offset, Omnicare's focus on its fast-growing
specialty business and recently recovered bed count in the long-
term care segment should help improve its top line and
profitability. Moody's expects leverage to decline slightly but
remain moderately high as free cash flow will likely be allocated
toward shareholder activities and acquisitions. Over the outlook
period, Moody's does not anticipate any large acquisitions that
would require debt financing given that most industry players are
much smaller than Omnicare.

Ratings could be upgraded if Omnicare demonstrates a conservative
approach to growth, sustains improved bed retention rates, grows
profitability, and reduces its exposure to government payors.
Retained cash flow to debt approaching 20% and debt/EBITDA
sustained below 2.5 times could help support an upgrade. Omnicare
would also need to maintain a good liquidity position to support
an upgrade.

The ratings could be downgraded if there are material negative
reimbursement changes or if the company engages in large debt
financed acquisitions. Retained cash flow to debt that is below
the low to mid teens level, or debt/EBITDA sustained above 3.75
times could result in a downgrade. Liquidity deterioration could
also lead to a downgrade.

Omnicare, Inc., headquartered in Cincinnati, Ohio, is the leading
provider of institutional pharmacy services to the long term care
sector (LTC), mainly serving skilled nursing facilities (SNFs) and
assisted living facilities. The company also has a specialty
pharmacy business that provides specialty pharmacy and
commercialization services for the biopharmaceutical industry.
During the twelve months ended September 30, 2014, Omnicare's
revenues approximated $6.3 billion.

The principal methodology used in these ratings was the 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.


APOLLO MEDICAL: Acquires Majority Stake in Apollo Palliative
------------------------------------------------------------
Apollo Medical Holdings, Inc., announced the launch of a new
subsidiary, Apollo Palliative Services, with the acquisition of
majority stakes in both a hospice agency and a home health
company.  The Company appointed Liviu Chindris, M.D., as president
of APS.

On or around Oct. 27, 2014, Apollo Medical Management, Inc., an
affiliate of Apollo Medical Holdings, Inc., made an initial
capital contribution of approximately $613,888 to Apollo
Palliative in exchange for 51% of the membership interests of APS.

APS will serve as a single source for hospice, palliative care and
home health services for ApolloMed's health plan, hospital and IPA
clients in addition to its own subsidiaries and affiliated medical
groups: ApolloMed ACO, Maverick Medical Group, AKM Medical Group,
ApolloMed Care Clinics and ApolloMed Hospitalists.  The hospice
agency serves three counties in Southern California, with an
average daily census of 40-60 patients, while the home health
agency services three counties in California with an average daily
census of 100-140.

The hospice division of APS will serve terminally ill patients and
their families through the use of an interdisciplinary team.
Depending on their needs, each hospice patient and their family is
assigned a team comprised of a physician, nurse, home health aide,
medical social worker, chaplain, dietary counselor and bereavement
coordinator.  Hospice and palliative care services are provided in
the patient's home, assisted living/nursing home, or in a
hospital.  The home health division will provide direct home
skilled nursing and therapy services, as well as specialty
programs such as disease management education, nutrition and help
with daily living activities.

ApolloMed believes that several factors will contribute to the
growth of its hospice and home health business: aging
demographics, recognition that in-home services are significantly
more cost-effective than institutional care, medical and
technological advances that allow more healthcare procedures and
monitoring to be provided at home and the benefits of recuperating
from an illness or receiving care for a chronic condition in one's
own home.

"I am very excited to join the management team of ApolloMed as we
launch Apollo Palliative Services," stated Dr. Chindris.  "We
understand the benefits of hospice, palliative care and home
health services for patients and their families and our goal is to
make APS one of the leading providers in Southern California."

"The addition of hospice and home health services will enhance our
integrated care model and provide a good platform for the
expansion of APS.  We believe that as an efficient operator of
integrated healthcare delivery, we are favorably positioned to
benefit from current industry trends," stated Warren Hosseinion,
M.D., chief executive officer of Apollo Medical Holdings.

"We are also very pleased to have Dr. Chindris, one of the
earliest physicians to join HealthCare Partners, as a member of
the ApolloMed team.  His wealth of knowledge and experience will
be a tremendous asset as we continue to grow ApolloMed's business
and expand the services that we provide."

Dr. Chindris earned his M.D. from the University of Medicine and
Pharmacy in Cluj, Romania and completed an internship and
residency in internal medicine at Brooklyn Hospital in Brooklyn,
New York and Mercy Hospital in Buffalo, New York.  He has held
memberships in the American College of Physicians and the American
Academy of Hospice and Palliative Medicine.  He is fluent in
Romanian, French, Italian, Spanish and English.  Dr. Chindris was
a Senior Partner at HealthCare Partners before it was acquired by
DaVita in 2012.

Additional information is available for free at:

                         http://is.gd/J17YA7

                        About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss of $4.55 million for the year
ended Jan. 31, 2014, following a net loss of $8.90 million for the
year ended Jan. 31, 2013.

As of June 30, 2014, the Company had $8.80 million in total
assets, $11.79 million in total liabilities and a $2.99 million
total stockholders' deficit.


ARCAPITA BANK: RA Holding Enters Into Agreement to Sell Lusail
--------------------------------------------------------------
RA Holding Corp. on Nov. 5 disclosed that it entered into an
agreement pursuant to which the Company's stake in Lusail Golf
Development would be sold to a subsidiary of Barwa Real Estate
Company Q.S.C.  A representative of RA Holding stated: "The
Company is pleased to have signed the transaction with Barwa, its
existing joint venture partner.  The Company expects to receive
net proceeds of approximately $365,000,000 (after payment of all
fees and senior obligations)."

The transaction is expected to complete prior to December 31,
2014.

The Company was represented by Milbank, Tweed, Hadley & McCloy LLP
and Arab Law Bureau LLP.

                      About RA Holding Corp.

RA Holding Corp. is the top-level holding company in the group
created pursuant to the plan of reorganization of Arcapita Bank
B.S.C.(c) and certain of its affiliates under chapter 11 of the
United States Bankruptcy Code.

                        About Arcapita Bank

Arcapita Bank B.S.C., also known as First Islamic Investment Bank
B.S.C., along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 12-11076) in Manhattan on March 19,
2012.  The Debtors said they do not have the liquidity necessary
to repay a US$1.1 billion syndicated unsecured facility when it
comes due on March 28, 2012.

Falcon Gas Storage Company, Inc., filed a Chapter 11 petition
(Bankr. S.D.N.Y. Case No. 12-11790) on April 30, 2012.  Falcon Gas
is an indirect wholly owned subsidiary of Arcapita that previously
owned the natural gas storage business NorTex Gas Storage Company
LLC.  In early 2010, Alinda Natural Gas Storage I, L.P. (n/k/a
Tide Natural Gas Storage I, L.P.), Alinda Natural Gas Storage II,
L.P. (n/k/a Tide Natural Gas Storage II, L.P.) acquired the stock
of NorTex from Falcon Gas for $515 million. Arcapita guaranteed
certain of Falcon Gas' obligations under the NorTex Purchase
Agreement.

The Debtors tapped Gibson, Dunn & Crutcher LLP as bankruptcy
counsel, Linklaters LLP as corporate counsel, Towers & Hamlins LLP
as international counsel on Bahrain matters, Hatim S Zu'bi &
Partners as Bahrain counsel, KPMG LLP as accountants, Rothschild
Inc. and financial advisor, and GCG Inc. as notice and claims
agent.

Milbank, Tweed, Hadley & McCloy LLP represented the Official
Committee of Unsecured Creditors.  Houlihan Lokey Capital, Inc.,
served as its financial advisor and investment banker.

Founded in 1996, Arcapita is a global manager of Shari'ah-
compliant alternative investments and operates as an investment
bank.  Arcapita is not a domestic bank licensed in the United
States.  Arcapita is headquartered in Bahrain and is regulated
under an Islamic wholesale banking license issued by the Central
Bank of Bahrain.  The Arcapita Group employs 268 people and has
offices in Atlanta, London, Hong Kong and Singapore in addition to
its Bahrain headquarters.  The Arcapita Group's principal
activities include investing on its own account and providing
investment opportunities to third-party investors in conformity
with Islamic Shari'ah rules and principles.

The Arcapita Group had roughly US$7 billion in assets under
management.  On a consolidated basis, the Arcapita Group owns
assets valued at roughly US$3.06 billion and has liabilities of
roughly US$2.55 billion.  The Debtors owe US$96.7 million under
two secured facilities made available by Standard Chartered Bank.

Arcapita explored out-of-court restructuring scenarios but was
unable to achieve 100 percent lender consent required to
effectuate the terms of an out-of-court restructuring.

Subsequent to the Chapter 11 filing, Arcapita Investment Holdings
Limited, a wholly owned Debtor subsidiary of Arcapita in the
Cayman Islands, issued a summons seeking ancillary relief from the
Grand Court of the Cayman Islands with a view to facilitating the
Chapter 11 cases.  AIHL sought the appointment of Zolfo Cooper as
provisional liquidator.

As reported in the TCR on Jun 19, 2013, the Bankruptcy Court for
the Southern District of New York entered its Findings of Fact,
Conclusions of Law, and Order confirming the Second Amended Joint
Chapter 11 Plan of Reorganization of Arcapita Bank B.S.C.(c) and
Related Debtors with respect to each Debtor other than Falcon Gas
Storage Company, Inc.

A copy of the Confirmed Second Amended Joint Plan (With First
Technical Modifications) is available at:

          http://bankrupt.com/misc/arcapita.doc1265.pdf

The effective date of the Debtors' Second Amended Joint Plan of
Reorganization, dated as of June 11, 2013, occurred on Sept. 17,
2013.


BERNARD L. MADOFF: Solus & SPV Not Entitled to Settlement Refund
----------------------------------------------------------------
Bankruptcy Judge Stuart M. Bernstein issued post-trial findings of
fact and conclusions of law denying an application for partial
refund of prior settlement payments in In re: BERNARD L. MADOFF
INVESTMENT SECURITIES LLC, Debtor. IRVING H. PICARD, Trustee for
the Liquidation of Bernard L. Madoff Investment Securities LLC,
Plaintiff, JPMORGAN CHASE & CO., JPMORGAN, CHASE BANK, N.A.,
JPMORGAN, SECURITIES LLC, and JPMORGAN, SECURITIES LTD.,
Defendants, CASE NO. 08-99000 (SMB), ADV. PROC. NO. 08-01789
(SMB)., 10-04932 (SMB), (S.D. N.Y.).

At an early stage in this liquidation under the Securities
Investor Protection Act (SIPA), Irving H. Picard, SIPA trustee of
the estate of Bernard L. Madoff Investment Securities LLC (BLMIS),
entered into a settlement agreement with Optimal Strategic U.S.
Equity Ltd. (SUS) and Optimal Arbitrage Ltd. (Arbitrage) under
which they paid the Trustee the aggregate sum of $233,750,000 (the
Optimal Settlement).  The settlement represented 85% of the amount
of the preference claims asserted against them by the Trustee. The
Optimal Settlement included an equal treatment provision, or most
favored nations (MFN) clause, which required the Trustee to refund
a portion of the settlement payment if he entered into similar
future settlements with other defendants for a lower percentage of
the claimed amount.

SPV Optimal SUS Ltd. (SPV) acquired SUS's rights and Solus
Recovery Fund LP -- Applicants -- acquired Arbitrage's rights
under the Optimal Settlement.

The Trustee subsequently settled avoidance claims he brought
against the defendants. JPMorgan paid the estate $325 million, or
slightly more than 76% of the amounts sought (the JPMorgan
Settlement).  Solus and SPV contend that the JPMorgan Settlement
triggered the MFN clause, and the Trustee owes each a refund.

Finding the Optimal Settlement ambiguous on this point, the Court
conducted a trial on July 30, 2014.

In his order dated October 10, 2014, a copy of which is available
at http://is.gd/zlAirCfrom Leagle.com, Judge Bernstein concluded
that the Applicants are not entitled to the refunds they seek.

Gary Svirsky, Esq. -- gsvirsky@omm.com -- Emily Chepiga, Esq. --
echepiga@omm.com -- Of Counsel O'MELVENY & MYERS LLP, New York,
NY, Attorneys for Solus Recovery Fund L.P.

                     About Bernard L. Madoff

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

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

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

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

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

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

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


BROADWAY FINANCIAL: Director Renata Simril Quits
------------------------------------------------
Ms. Renata Simril tendered her resignation, effective Oct. 31,
2014, from the Boards of Directors and the Loan Committee of
Broadway Financial Corporation, parent company of Broadway Federal
Bank, and the Bank.  According to a regulatory filing with the
U.S. Securities and Exchange Commission, Ms. Simril accepted
another position at the Los Angeles Times and her resignation was
not the result of any disagreement with the Company on any matter
relating to the Company's operations, policies or practices.

                     About Broadway Financial

Los Angeles, Calif.-based Broadway Financial Corporation was
incorporated under Delaware law in 1995 for the purpose of
acquiring and holding all of the outstanding capital stock of
Broadway Federal Savings and Loan Association as part of the
Bank's conversion from a federally chartered mutual savings
association to a federally chartered stock savings bank.  In
connection with the conversion, the Bank's name was changed to
Broadway Federal Bank, f.s.b.  The conversion was completed, and
the Bank became a wholly owned subsidiary of the Company, in
January 1996.

The Company is regulated by the Board of Governors of the Federal
Reserve System.  The Bank is regulated by the Office of the
Comptroller of the Currency and the Federal Deposit Insurance
Corporation.

Broadway Financial reported a loss allocable to common
stockholders of $1.08 million in 2013, a loss allocable to common
stockholders of $693,000 in 2012 and a net loss available to
common shareholders of $15.36 million in 2011.

The Company's balance sheet at March 31, 2014, the Company had
$335.07 million in total assets, $308.51 million in total
liabilities and $26.56 million in total stockholders' equity.


CANYON COMPANIES: Moody's Affirms B2 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service affirmed Canyon Companies, S.A.R.L.'s
(dba Cision) corporate family rating of B2 and revised the
company's ratings outlook to negative from stable. The ratings of
the first and second lien debt (held at subsidiary GTCR Valor
Companies, Inc.) were also affirmed, as listed below.

Ratings Rationale

The outlook change to negative was driven by the announcement of
Cision's largely debt-financed acquisition of Gorkana. The
acquisition was funded using incremental first and second lien
debt of $170 million and $65 million, respectively, as well as
additional sponsor equity and a modest amount of balance sheet
cash. Though the acquisition provides Cision with a strong
complementary product offering in the United Kingdom and enhanced
scale, the management team faces significant challenges with
respect to the restructuring and integration of the company's
operations and software platforms. The companies have overlap in
products and management expects to realize synergies fairly
quickly. The negative outlook recognizes that this acquisition is
modestly leveraging and reduces the pace at which Moody's expect
the company to de-lever, while introducing additional integration
challenges as the company is transformed. As a result of this
transaction, debt increased from approximately 63% to 70% of the
capital structure. Given the divestitures and recent acquisitions,
historical audits are of limited use in assessing the new entity.

The B2 rating continues to reflect Cision's high debt load at a
time when the company is in the midst of integration challenges in
Cision & Vocus and now, Gorkana. Debt/EBITDA exceeds 6x based on
pro forma August 31, 2014 LTM results, and well over 7x excluding
synergies. The combined company has a leadership position in
various segments of the public relations software industry, and
the combination enhances scale and geographic diversity. However,
the company is considered weakly positioned in the B2 category due
to the high leverage and significant near term integration and
restructuring challenges.

Ratings could be downgraded if the integration falters or leverage
is not on track to get to 5.5x or free cash flow to debt is not on
track to get to 7% or greater. Though unlikely in the near term
given the integration challenges, the ratings could be upgraded if
leverage is sustained below 4x.

Liquidity is good, with approximately $24 million of cash at the
close of the Gorkana acquisition, and improves with the
expectation of over $30 million of free cash flow over the course
of FY2015. Liquidity is also supported by an undrawn $25 million
revolver, which is subject to certain limitations and financial
covenants.

The following ratings were affirmed:

Affirmations:

Issuer: Canyon Companies S.A.R.L.

  Probability of Default Rating, Affirmed B2-PD

  Corporate Family Rating, Affirmed B2

Issuer: GTCR Valor Companies, Inc.

  Senior Secured Revolving Credit Facility May 30, 2019, Affirmed
  B1 (LGD3)

  Senior Secured Bank Credit Facility May 30, 2021, Affirmed B1
  (LGD3)

  Senior Secured Bank Credit Facility May 30, 2021, Affirmed B1
  (LGD3)

  Senior Secured Bank Credit Facility Nov 30, 2021, Affirmed Caa1
  (LGD5)

  Senior Secured Bank Credit Facility Nov 30, 2021, Affirmed Caa1
  (LGD5)

Outlook Actions:

Issuer: Canyon Companies S.A.R.L.

Outlook, Changed To Negative From Stable

Issuer: GTCR Valor Companies, Inc.

Outlook, Changed To Negative From Stable

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

Canyon Companies S.A.R.L. (dba Cision), owned by private equity
firm GTCR is a provider of software platforms for public relations
professionals. The company is a combination of certain key assets
of Cision AB, Vocus, Inc., and Gorkana Group.


CARECORE NATIONAL: Moody's Affirms B2 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family Rating
and B2-PD Probability of Default Rating of CareCore National, LLC.
Moody's also affirmed the company's upsized senior secured first
lien credit facilities, including its revolving credit facility
(being upsized to $110 million from $75 million) and its senior
secured first lien term loan (being upsized to $850 million from
$315 million). The proceeds from the add-on term loan will be used
to finance the acquisition of MedSolutions, Holdings, Inc. and pay
associated transaction fees and expenses. The rating outlook is
stable.

In connection with the acquisition, MedSolutions' shareholders
will take equity in CareCore and have a minority ownership with
CareCore shareholders retaining majority ownership. The
transaction is subject to customary regulatory approvals and is
expected to close during the fourth quarter of 2014.

Following is a summary of Moody's rating actions:

CareCore National, LLC:

Ratings affirmed:

  B2 Corporate Family Rating

  B2-PD Probability of Default Rating

  Senior secured first lien revolving credit facility (being
  upsized to $110 million from $75 million), B2 (LGD 3)

  Senior secured first lien term loan (being upsized to $850
  million from $315 million), B2 (LGD 3)

The rating outlook is stable.

Ratings Rationale

CareCore's B2 Corporate Family Rating reflects the company's high
revenue concentration among its top customers and therapeutic
program segments, its high financial leverage, and uncertainty
related to potential undisclosed liabilities which present near-
term risk. The rating also reflects the company's aggressive
acquisition strategy, and the substantial integration and
execution risks inherent in the consummation of the acquisition of
MedSolutions, the largest acquisition in the company's history.
The rating is supported by the combined company's leading market
position, longstanding customer relationships, lack of direct
Medicare or Medicaid reimbursement risk, and favorable
fundamentals and macro trends within the market for specialty
benefit management services.

On a pro forma basis for the acquisition, Moody's estimate
adjusted debt to EBITDA would have been approximately 4.6 times
for the twelve months ended September 30, 2014, including 50% of
management's targeted cost synergies.

The stable outlook reflects Moody's expectation that the company
will reduce financial leverage due to earnings growth and cost
synergy opportunities following the acquisition of MedSolutions,
offset by integration and execution risks inherent in consummating
the largest acquisition in the company's history. The stable
outlook also incorporates Moody's expectation that the company
will not face any adverse outcome with respect to certain
undisclosed potential liabilities, and that the company will not
engage in debt-financed shareholder initiatives.

The ratings could be downgraded if there is a material contraction
in the level of operating cash flow, or if the company fails to
maintain sufficient available liquidity sources, including
unrestricted cash and revolver availability. In addition, the
ratings could be downgraded if any adverse event requires
incremental debt, such that adjusted total debt to EBITDA exceeds
5.0 times on a Moody's adjusted basis.

While not expected over the near-term due to the company's high
customer and program concentration, the ratings could be upgraded
over time if the company significantly reduces the reliance on
revenue from its top customers via new contact wins and adjusted
debt to EBITDA is sustained below 3.5 times on a Moody's adjusted
basis.

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

Headquartered in Bluffton, South Carolina, CareCore National, LLC
is a specialty benefits management company that provides
healthcare management and administrative services on behalf of
clients consisting primarily of commercial health insurers and
other third-party payors including Managed Medicaid and Medicare
Advantage plans. For the twelve months ended September 30, 2014,
the company generated total revenues of approximately $622
million.


CAROLINE WYLY: Seeks Ch. 11 Protection in Face of $101M SEC Debt
----------------------------------------------------------------
Law360 reported that Caroline D. Wyly, widow of Charles Wyly Jr.,
filed for bankruptcy protection, in the wake of a judgment worth
hundreds of millions of dollars against the estate of the late
Texas tycoon and his brother, Samuel Wyly, for allegedly using
secretive offshore trusts to trade stocks while evading taxes.

According to the report, Ms. Wyly listed both assets and
liabilities of between $100 million and $500 million and listed
the U.S. Securities and Exchange Commission as her largest
creditor, with a $101.2 million claim.  The petition comes days
after Sam Wyly sought Chapter 11 protection, saying he can't
afford a potential $198 million government penalty for allegedly
using secretive offshore trusts to trade stocks while evading
taxes, the report noted.

The case is In Re: Caroline D. Wyly, case number 14-35074, in the
U.S. Bankruptcy Court for the Northern District of Texas.


CHANNEL CONSTRUCTION: Alaska Judge Defers Ruling on McGee Fees
--------------------------------------------------------------
Bankruptcy Judge Hobb Ross in Alaska deferred approval of (i) the
fees sought by McGee Law Offices for its services rendered in the
Chapter 11 case of Channel Construction Inc., and (ii) the
modifications to the terms of MLO's retention.

Judge Ross directed the firm to make some clarification.

"My sole concern is that the proposed Legal Representation
Agreement can be fairly read to mean that if the court approves
the retention agreement -- i.e., granting a hybrid of reduced
hourly rates and a contingency fee -- the new reduced hourly rate
would kick in for fees incurred after July 18, 2014. On the other
hand, it might have been the intent of the parties that only fees
subsequent to court approval are at the reduced rate. It is
ambiguous to the court," Judge Ross said.

The motion for approval of the modification agreement was not
filed until October 2, 2014, almost two-and-a-half months after it
was executed. So, the court needs clarification that the debtor
and MLO are on the same page as to the starting date for the
reduced fees. If the intention was for fees incurred after July
18, 2014 to be charged at the reduced rate, subject to the court
approving the hybrid billing scheme, the billing statements would
have to be redone to reflect that.

Terrence K. McGee of MLO serves as special counsel to the Debtor.

Judge Ross noted, "In general, I have no quarrel with the math and
detail shown by MLO's five billing statements which are exhibits
to the fee application. . .  I want to point out to MLO, however,
that it improperly collected $15,000 from the debtor in August,
prior to approval of its fees and expenses.  This should not
happen again.  The order authorizing MLO's retention specifically
states that all payments are subject to prior court order."

"Also, MLO started working post-petition on April 1, 2014, but did
not get approval for employment until May 23, 2014, nunc pro tunc.
No explanation for the delay in seeking approval of its retention
has been offered as required by Ninth Circuit precedent.  Again, I
will assume that this was due to inexperience in bankruptcy
protocol and not press the point.  No one else has raised the
issue."

A copy of Judge Ross' Nov. 3 Memorandum is available at
http://bit.ly/1x5Qhcbfrom Leagle.com.

Channel Construction, Inc., based in Juneau, Alaska, filed for
Chapter 11 bankruptcy (Bankr. D. Alaska Case No. 14-00103) on
March 31, 2014.  Judge Herbert A. Ross oversees the case.  Cabot
C. Christianson, Esq., at Christianson & Spraker, serves as the
Debtor's counsel.  The Debtor estimated $1 million to $10 million
in both assets and liabilities in its petition.  A list of the
Debtor's 29 largest unsecured creditors is available for free at
http://bankrupt.com/misc/akb14-103.pdf


COMMUNITYONE BANCORP: Posts $1.8-Mil. Net Income in 3rd Quarter
---------------------------------------------------------------
CommunityOne Bancorp reported net income of $1.77 million on
$18.39 million of total interest income for the three months ended
Sept. 30, 2014, compared to net income of $4 million on $19.85
million of total interest income for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $2.01
billion in total assets, $1.92 billion in total liabilities and
$94.49 million in total shareholders' equity.

"During the quarter, we continued our momentum by growing loans
and deposits, achieving our end of year 2014 goal of a 75% loans
to deposits ratio," noted Bob Reid, president and CEO.  "Our
credit quality also continues to track ahead of plan and we expect
that to continue.  Despite a significant charge related to the
departure of our CEO, I am pleased we made significant progress on
our key goals and delivered our fifth consecutive quarter of
profitability. We continue to focus on reducing noninterest
expense as well as our nonperforming assets, even as we make
investments in new personnel, new markets and new products to
drive growth."

A copy of the press release is available for free at:

                         http://goo.gl/oCCThg

                          About CommunityOne

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

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


CONEX INTERNATIONAL: Trustee Fails in Tax Suit vs. Parent Company
-----------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Christopher Sontchi in
Wilmington, Delaware, dismissed a complaint brought by Charles A.
Stanziale, Jr., the Chapter 7 trustee for bankrupt oil services
contractor Conex International LLC, seeking to recover $2.6
million from its parent CopperCom Inc. over its allegedly improper
use of Conex's net operating losses for its own tax benefit.

According to the report, Judge Sontchi said the trustee does not
have an undisputed right to recover the net operating losses
because Conex is a disregarded entity of CopperCom and, under the
Internal Revenue Code, any of its tax benefits and liabilities are
held by the parent.  Judge Sontchi also dismissed four other
counts without prejudice, including breach of implied covenant of
good faith, unjust enrichment and two counts of avoidance of
transfers, and gave the trustee 28 days to amend his complaint.

The adversary case is Stanziale v. CopperCom Inc., case number 13-
50939, in the same venue.

On Feb. 20, 2011, Wells Fargo, Bank of Montreal, and The
Prudential Insurance Company of America, commenced an involuntary
Chapter 7 bankruptcy case against Conex Holdings, LLC, and an
involuntary Chapter 11 bankruptcy cases against Conex
International, LLC (Bankr. D. Del. Case No. 11-10503) and
Advantage Blasting & Coating, LLC (Bankr. D. Del. Case No. 11-
10502).


CT TECHNOLOGIES: Moody's Assigns B2 Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service has assigned to CT Technologies
Intermediate Holdings, Inc. (dba "HealthPort"), a B2 corporate
family rating ("CFR"), a B2-PD probability of default rating
("PDR"), and B2 ratings to the proposed first lien revolving
credit facility due 2019 and first lien term loan due 2021. The
ratings outlook is stable.

On October 17, 2014, New Mountain Capital, LLC entered into a
definitive agreement to acquire HealthPort. Proceeds from the new
term loan, along with sponsor equity, will be used to purchase
HealthPort, repay existing debt and pay related fees and expenses.
Ratings on existing debt will be withdrawn upon closing of the
transaction.

The following rating actions were taken:

  Corporate Family Rating, Assigned B2

  Probability of Default Rating, Assigned B2-PD

  Proposed $30 million first lien revolver due 2019, Assigned B2
  (LGD3)

  Proposed $325 million first lien term loan due 2021, Assigned
  B2 (LGD3)

Outlook, at Stable

Rating Rationale

The B2 CFR reflects HealthPort's relatively small revenue size of
$300 million and expectations for debt to EBITDA to fall below 5
times and free cash flow to debt to rise above 7% of over the next
12 months. The ratings are constrained by reputational and legal
risks attendant in the release of protected health information,
although HealthPort has never been charged with a breach. Over the
medium term, Moody's expects solid growth in medical information
exchange end market demand. HealthPort should continue to benefit
from its leading position in the market for third party exchange
providers. Volumes are expected to grow as an aging population and
healthcare reform drive the generation of more medical records.
Commercial payers are expected to be a driver of revenue growth.
No recovery in volumes associated with the Centers for Medicare
and Medicaid Services (CMS) Recovery Audit Contractor (RAC)
program is anticipated in Moody's expectations for HealthPort's
growth. Moody's expects HealthPort to maintain a good liquidity
profile, supported by annual free cash flow of about $25 million
and $25 million of availability under the $30 million revolver.

All financial metrics reflect Moody's standard adjustments.

The stable outlook reflects Moody's anticipation that HealthPort
will continue to grow its market share while maintaining stable
profitability margins and at least adequate liquidity. The ratings
could be downgraded if pricing pressures or negative regulatory
developments result in margin compression and declines in cash
generation such that free cash flow to debt falls below 2% or debt
to EBITDA is sustained above 6 times. A debt-funded acquisition or
dividend could also pressure the rating. The ratings could be
upgraded if HealthPort expands its business scope and revenue
base, maintains stable profit margins and reduces debt such that
debt to EBITDA is sustained below 4.5 times.

HealthPort is the largest provider of medical information exchange
management services in the United States. Moody's expects revenue
to exceed $320 million in 2015.

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


CTI BIOPHARMA: Seeking Add'l Capital, May File for Bankruptcy
-------------------------------------------------------------
CTI Biopharma Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q for the period ended
Sept. 30, 2014.

The Company disclosed that its available cash and cash equivalents
were $29.9 million as of Sept. 30, 2014.  Subsequent to period
end, the Company borrowed $5 million in additional outstanding
principal under its senior secured term loan agreement, and the
Company received an upfront payment of EUR14 million (or $17.8
million using the currency exchange rate as of the date the
Company received the funds in October 2014) in connection with the
Company's exclusive license and collaboration agreement with
Servier.

"We believe that our present financial resources (including the
$17.8 million we received in October 2014 under the Servier
Agreement), together with additional milestone payments projected
to be received under certain of our contractual agreements, our
ability to control costs and expected net contribution from
commercial operations in connection with PIXUVRI, will only be
sufficient to fund our operations into the third quarter of 2015.
This raises substantial doubt about our ability to continue as a
going concern," the Company disclosed in the filing.

The Company added it will need to raise additional funds and is
currently exploring alternative sources of financing.

"We may seek to raise such capital through public or private
equity financings, partnerships, joint ventures, disposition of
assets, debt financings or restructurings, bank borrowings or
other sources of financing.  However, we have a limited number of
authorized shares of common stock available for issuance and
additional funding may not be available on favorable terms or at
all.  If additional funds are raised by issuing equity securities,
substantial dilution to existing shareholders may result.  If we
fail to obtain additional capital when needed, we may be required
to delay, scale back or eliminate some or all of our research and
development programs, reduce our selling, general and
administrative expenses, be unable to attract and retain highly
qualified personnel, refrain from making our contractually
required payments when due (including debt payments) and/or may be
forced to cease operations, liquidate our assets and possibly seek
bankruptcy protection."

For the three months ended Sept. 30, 2014, the Company reported
net income attributable to the Company's common shareholders of
$4.60 million on $39.53 million of total revenues compared to a
net loss attributable to common shareholders of $22.44 million on
$362,000 of total revenues for the same period in 2013.

The Company also reported a net loss attributable to the Company's
common shareholders of $51.79 million on $42.28 million of total
revenues for the nine months ended Sept. 30, 2014, compared to a
net loss attributable to the Company's common shareholders of
$59.83 million on $1.79 million of total revenues for the same
period a year ago.

The Company's balance sheet at Sept. 30, 2014, showed $68.59
million in total assets, $44.65 million in total liabilities,
$7.89 million in common stock purchase warrants, and $16.04
million in total shareholders' equity.

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

                        http://is.gd/kyV9wS

                        About CTI BioPharma

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

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


DETROIT, MI: Seeks Court Order Confirming Inapplicability of Stay
-----------------------------------------------------------------
Detroit has filed a motion seeking court confirmation that the so-
called automatic stay does not apply to cases it filed against
city officers and employees who are subject to disciplinary
action.

The move comes after an arbitrator presiding over a case involving
a public safety officer put it on hold until U.S. Bankruptcy Judge
Steven Rhodes confirms that the city can continue to prosecute the
case notwithstanding its Chapter 9 case.

"The automatic stay does not apply to the disciplinary proceedings
because they are offensive actions commenced by the city as
plaintiff against city officers and employees that are subject to
disciplinary action," said Detroit lawyer, Heather Lennox, Esq.,
at Jones Day in Cleveland, Ohio.

                 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.


DIGITAL DOMAIN: To Return $18MM in Tax Credits to Florida
---------------------------------------------------------
Adolfo Pesquera at the Daily Business Review reports that the Hon.
Brendan L. Shannon of the U.S. Bankruptcy Court for the District
of Delaware has ordered Digital Domain Media Group Inc. to release
$18 million in film project tax credits to the state of Florida.

According to Business Review, the Florida Department of Economic
Opportunity, which is represented by Sean T. Cork of Squire Patton
Boggs in Miami, argued for the release of the credits.

A written order is pending, Business Review says, citing William
Scherer of Conrad & Scherer in Fort Lauderdale, who represents
Florida in another Digital Domain-related case.  Mr. Sherer said
that the decision on the $18 million recovery is "a good thing for
the state and the taxpayers because I won't have to litigate it
and it's not subject to my contingency fee," the report states.

Business Review relates that another $2 million in tax credits for
one of the Company's productions is still in dispute.  According
to a joint status report presented to the Court on Oct. 24, the
committee of unsecured creditors objected to releasing the $2
million to the state of Florida.

                     About Digital Domain

Port St. Lucie, Florida-based Digital Domain Media Group, Inc. --
http://www.digitaldomain.com/-- engaged in the creation of
original content animation feature films, and development of
computer-generated imagery for feature films and trans-media
advertising primarily in the United States.

Digital Domain Media Group, Inc. and 13 affiliates sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 12-12568) on
Sept. 11, 2012, to sell its business for $15 million to
Searchlight Capital Partners LP, subject to higher and better
offers.  The Company disclosed assets of $205 million and
liabilities totaling $214 million.

The Debtors also have sought ancillary relief in Canada, pursuant
to the Companies' Creditors Arrangement Act in the Supreme Court
of British Columbia, Vancouver Registry.

Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the
Debtors.  FTI Consulting, Inc.'s Michael Katzenstein is the chief
restructuring officer.  Kurtzman Carson Consultants LLC is the
claims and notice agent.  An official committee of unsecured
creditors appointed in the case is represented by lawyers at
Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP.

At a bankruptcy auction, the principal part of the business was
purchased by a joint venture between Galloping Horse America LLC,
an affiliate of Beijing Galloping Horse Co., and an affiliate of
Reliance Capital Ltd., based in Mumbai.  The $36.7 million total
value of the contact includes $3.6 million to cure defaults on
contracts and $2.9 million in reimbursement of payroll costs. As
the result of a settlement negotiated by the unsecured creditors'
committee with secured lenders, there will be some recovery for
the committee's constituency.


DISH DBS: Fitch Assigns 'BB-' Rating on $1.25-Bil. Sr. Notes
------------------------------------------------------------
Fitch Ratings has assigned a 'BB-' rating to DISH DBS
Corporation's (DDBS) issuance of approximately $1.25 billion of
senior unsecured notes.  Proceeds from the offering are expected
to be used for general corporate purposes, including the
refinancing of debt.  DDBS is a wholly owned subsidiary of DISH
Network Corporation.  Both DISH Network Corporation (DISH) and
DDBS have a 'BB-' Issuer Default Rating (IDR).  The Rating Outlook
for all of DISH's ratings remains Negative.  DISH had
approximately $13.4 billion of debt outstanding as of Sept. 30,
2014.

KEY RATING DRIVERS

Wireless Strategy Uncertainty: Drivers of the Negative Outlook
include the lack of visibility into DISH's wireless strategy, and
the potential capital requirements and execution risk associated
with that strategy.  In Fitch's view, DISH would need to
meaningfully differentiate its wireless services in order for the
strategy to successfully diversify its revenues, and to provide
for potential cash flow growth.  An offering similar to other
wireless operators' services would likely struggle to gain
traction, given the maturing wireless market and entrenched
national operators.

Elevated Leverage Threatens Ratings: Leverage rose in 2013, and
has remained higher, as DISH has built cash to fund the wireless
strategy.  Fitch believes the higher debt levels, along with
elevated execution and integration risks associated with DISH's
wireless strategy limit the company's financial flexibility at the
current ratings level.  The company will need to make significant
investments or partner with other operators to realize its
strategy.

Cash Balance Swells: Total debt outstanding as of Sept. 30, 2014
was approximately $13.4 billion, with cash, cash equivalents and
current marketable securities approximating $9.3 billion.  DISH's
leverage increased to approximately 4.7x for the last 12 months
(LTM) ending Sept. 30, 2014, down slightly from 4.8x at the end of
2013 (but still well over the 4.0x in 2012).  The high leverage
limits the company's financial flexibility within the current
rating category.  The cash proceeds from the company's incremental
debt issuances have largely remained on its balance sheet, and
will, in part, support DISH's wireless strategy.

EBITDA: Higher programming and broadband subscriber acquisition
costs have had an effect on the company's operating margins and
EBITDA generation.  These factors contributed to a 0.2% decline in
EBITDA in for the LTM ending Sept. 30, 2014 relative to the full
year 2013.

Ratings Reflect Weak Trends: Fitch believes the company's overall
credit profile has limited capacity to accommodate DISH's
inconsistent operating performance as the company struggles to
transform its branding strategy from a value-oriented service
provider to a technology-focused provider targeting high-value
subscribers.  While subscriber metrics remain weak, average
revenue per user (ARPU) has benefited from programming cost
increases, higher hardware-related revenue and increased
advertising revenue.  ARPU increased 4.4% for the first nine
months of 2014 versus the prior period.

DISH's efforts to transform though various wireless initiatives
remain in a development stage.  The company's strategy has
experienced numerous set-backs as the company endeavors to engage
another wireless carrier seeking a partnership, acquisition or
network-sharing agreement.  Event risks remain elevated as the
company contemplates additional acquisitions of spectrum or assets
to support the wireless strategy.  The strategic importance of a
wireless broadband service option has not diminished and, as such,
Fitch expects DISH will likely continue its efforts to engage an
existing national wireless service provider.

DISH will participate in the upcoming AWS-3 spectrum auction,
which is an opportunity for the company to add to its current
spectrum position.  In Fitch's opinion, DISH may have the most
interest in the unpaired, uplink only 1695-1710 MHz blocks given
it can elect to convert the uplink portion of its AWS-4 spectrum
into a downlink spectrum block.  As indicated by the FCC's low
reserve price on this spectrum--$0.12 per MHz POP, this spectrum
is not expected to generate significant interest.

The company is in a unique position with regard to its
participation in the auction, if valuations in the AWS-3 auction
are low, it will provide DISH with an opportunity to acquire
additional spectrum inexpensively.  Conversely, if valuations in
the auction are high, DISH may acquire less spectrum, but high
valuations have the potential to increase the valuation of its
existing, undeployed AWS-4 spectrum.  High valuations placed on
its AWS-4 spectrum can be advantageous to DISH as it explores
opportunities to partner with other carriers in the deployment of
its yet-to-be-defined wireless strategy.

DISH believes its AWS-4 spectrum is potentially of higher value
than the AWS-3 spectrum, given its option to convert all of the
AWS-4 spectrum to downlink spectrum.  This downlink waiver was
granted by the FCC in December 2013, and the option is in effect
through June 20, 2016.

Fitch regards the company's liquidity position as strong and
primarily supported by sizable cash and marketable securities
balances and expected, but diminishing free cash flow (FCF)
generation.  The company also benefits from a favorable maturity
schedule, as 32% of the company's outstanding debt is scheduled to
mature through 2018, excluding $900 million repaid on Oct. 1,
2014.  In 2015, $650 million matures.  DISH had a total of
approximately $9.3 billion of cash and marketable securities
(current portion).  DISH DBS holds approximately $4.5 billion of
the consolidated $4.8 billion cash balance and more than $3.7
billion of consolidated $4.5 billion marketable securities
balance.  The high cash balances mitigate the risk caused by the
lack of a revolving credit facility.

DISH's FCF (defined as cash flow from continuing operations less
capital expenditures and dividends) generation rose approximately
15% during the first nine months of 2014 to $869 million when
compared to the same period during 2013.  DISH's capital intensity
has remained relatively stable in the 8% to 9% range in 2014.
Capital expenditures will continue to focus on subscriber
retention and capitalized subscriber premises equipment.  The
higher leverage and weaker operating profile will continue to
constrain FCF generation over the ratings horizon.

Additional rating concerns center on DISH's ability to adapt to
the evolving competitive landscape, DISH's lack of revenue
diversity and narrow product offering relative to its cable MSO
and telephone company video competition, and an operating profile
and competitive position that continue to lag behind its peer
group.  DISH's current operating profile is focused on its
maturing video service offering and lacks growth opportunities
relative to its competition.

RATING SENSITIVITIES

Revision of the Outlook to Stable at the current rating level can
occur as the company demonstrates that it can execute its wireless
strategy in a credit-neutral manner.  In addition, operating
metrics, in particular subscriber additions, ARPU growth and
EBITDA margins will need to begin to trend positive.

Fitch believes negative rating action will likely coincide with
the company's decision to execute a wireless strategy, or other
discretionary management decisions that weaken its ability to
generate FCF, erode operating margins, and increase leverage
higher than 5x without a clear strategy to de-lever the company's
balance sheet.


DISH DBS: Moody's Assigns Ba3 Rating on New $1.25BB Unsec. Notes
----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 (LGD4-67%) rating to DISH
Network Corporation's (DISH) proposed $1.25 billion senior
unsecured notes maturing in 2024. The new notes will be issued at
the company's wholly-owned subsidiary, DISH DBS Corporation (DISH
DBS), and will be pari pasu with DISH DBS's existing senior
unsecured notes, which are guaranteed only by the US pay-TV
operating company subsidiaries. The company plans to utilize the
net proceeds from the offering for general corporate purposes,
including replenishing cash used for repayment of $900 million
6.625% Senior Notes, which matured in October 2014. Proceeds from
the debt offering may also be used to prefund repayment of the
company's $650 million 7.75% Senior Notes due in 2015. Moody's
believe DISH is taking advantage of the low interest rate
environment to lock-in long-term financing at attractive terms and
bolster its liquidity position. The transaction is largely neutral
from a ratings perspective given that debt-to-EBITDA leverage will
not change, but over the long-term, savings from lower interest
expense should positively impact the company's operating cash
flows. As of 09/30/2014, DISH DBS's leverage was roughly 4.7x
(incorporating Moody's standard adjustments) and the company had
over $8 billion of cash and marketable securities on its balance
sheet. The rating outlook for DISH DBS is negative.

Assignments:

Issuer: Dish DBS Corporation

  US$1.25 Billion Senior Unsecured Bond, Assigned Ba3, LGD4

Ratings Rationale

DISH's Ba3 Corporate Family Rating ("CFR") reflects high gross
debt-to-EBITDA leverage of 4.7x as of 09/30/2014 (incorporating
Moody's standard adjustments), resulting from an increase in the
company's debt level, which has more than doubled in the last
three years. Notably, leverage is slightly higher at the parent
company (DISH) and DISH DBS is its primary source of cash flows to
service expenses and investments. The rating continues to reflect
Moody's concern that competition from cable and telecommunication
companies, who offer multiple products (video, voice, and data),
will pressure margins and cash flow generation as the costs to
grow and retain subscribers will continue to escalate. The
company's parent has been beefing up its wireless spectrum base
aiming to strengthen its wireless broadband potential capacity in
order to enter the wireless space and withstand market saturation
or possibly benefit from an increase in value. Earlier this year,
DISH made a significant investment to purchase certain H Block
wireless spectrum licenses, bringing the total spectrum holding to
56 megahertz. Moody's expect the company will participate in FCC's
upcoming auction and the incentive auction planned for 2015. Event
risks and uncertainty stemming from what direction the company's
wireless strategy will take are only partially tempered by the
potential to improve DISH's DBS business profile, and Moody's
remain concerned over the legal credit structure supporting DISH
DBS bonds, which possess only minimal protections against leverage
and up-streaming cash to its parent, DISH. Further, the company's
creditors have no recourse to assets held outside of DISH DBS,
including the company's wireless spectrum. Accordingly,
uncertainty surrounding strategic plans and future impact on its
balance sheet continue to weigh on DISH's credit ratings as it
pursues a potentially transformative entry into the wireless
market.

The ratings continue to be supported by DISH's sizeable subscriber
base and continued rollout of technologically advanced products
that have been embraced by consumers, such as the Hopper and Joey
set top boxes. The rating also considers the company's controlling
shareholder structure. The controlling shareholder and Chairman,
Charles Ergen, has until recently, maintained a conservative
balance sheet, but has demonstrated the willingness to be highly
acquisitive. In addition, lack of transparency on fiscal policies
and financial guidance from the company's management, and flexible
indenture covenants also moderately constrain the CFR.

Rating Outlook

The negative rating outlook reflects the potential for a
transformative transaction by DISH in its pursuit of a nationwide
wireless broadband strategy, which may lead to higher leverage at
DISH DBS and significant ongoing investments that would drain cash
from DISH DBS without providing creditors with recourse to any new
assets or investments. Within its core video business, Moody's
expect DISH to maintain a sizeable subscriber base and solid
liquidity.

What Could Change the Rating -- DOWN

DISH may be downgraded if it engages in acquisitions and
investments such that leverage is sustained over 5.5x. However,
DISH could also be downgraded if leverage is sustained over 4.5x
and Moody's expect it to up-stream its cash to fund a high risk
business that doesn't generate free cash flow and to which DISH's
creditors have no recourse. In addition, material subscriber
losses, multiple satellite failures that cannot be mitigated with
backup transponders or capacity constraints that affect the
company's ability to provide a competitive service could also have
negative rating implications.

What Could Change the Rating -- UP

Upward rating movement is unlikely, given the negative outlook. If
DISH's leverage is sustained below 4.0x, the company's ratings
could be upgraded though Moody's would need to understand the
company's next strategic steps with regard to its wireless
strategy, how it plans to use its cash balance, and if its
creditors have recourse to its current and future wireless assets.

DISH DBS Corporation is a wholly owned subsidiary of DISH Network
Corporation and is a direct broadcast satellite pay-TV provider,
with the third largest U.S. video subscriber base of about 14.04
million subscribers as of 09/30/14. Revenue for the LTM period
ending 09/30/14 was around $14 billion.

The principal methodology used in this rating was Global Pay
Television -- Cable and Direct-to-Home Satellite Operators
published in April 2013.


DISH DBS: S&P Assigns 'BB-' Rating on $1.25BB Sr. Unsecured Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue-level
rating and '4' recovery rating to DISH DBS Corp.'s proposed $1.25
billion of senior unsecured notes due 2024.  The '4' recovery
rating indicates S&P's expectation for average (30% to 50%)
recovery for noteholders in the event of a payment default.
Recovery is at the high end of this range.  DISH DBS Corp. is the
main subsidiary of Englewood, Colo.-based satellite TV provider
DISH Network Corp. (DISH).  S&P expects the company to use net
proceeds from the notes to replenish liquidity, prefund the
repayment of existing indebtedness, and potentially for the
acquisition of spectrum licenses.

The 'BB-' corporate credit rating and negative rating outlook
remain unchanged.  S&P's rating on DISH primarily reflects its
core video and satellite broadband business, as S&P don't
currently fully incorporate the potential benefits of its spectrum
assets within its business risk profile assessment.  Additionally,
from a recovery standpoint, the spectrum sits outside the
restricted group on the company's bonds, and therefore does not
provide additional value in S&P's recovery analysis.  While
dependent on DISH's ultimate wireless strategy and whether it
keeps its direct-broadcast-satellite and spectrum assets together,
bondholders could benefit over a longer term assuming an
improvement in the company's business prospects, which could
include mobile video and fixed broadband initiatives.

RATINGS LIST

DISH DBS Corp.
Corporate Credit Rating                    BB-/Negative/--

New Rating

DISH DBS Corp.
$1.25 Bil. Senior Unsec. Notes Due 2024    BB-
   Recovery Rating                          4


DOVER DOWNS: Posts $699,000 Net Earnings in Third Quarter
---------------------------------------------------------
Dover Downs Gaming & Entertainment, Inc., reported net earnings of
$699,000 on $47.98 million of revenues for the three months ended
Sept. 30, 2014, compared to net earnings of $223,000 on $50.07
million of revenues for the same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $190,000 on $139.67 million of revenues compared to
net earnings of $431,000 on $150.63 million of revenues for the
same period a year ago.

As of Sept. 30, 2014, the Company had $185.15 million in total
assets, $68.83 million in total liabilities, and $116.31 million
in total stockholders' equity.

Denis McGlynn, the Company's president and chief executive
officer, stated: "While the legislation that was passed on June 30
has been helpful, we have operated at a loss for the first nine
months of the year.  We're continuing our discussions with the
state with the goal of arriving at a new formula for the
distribution of gaming revenues.  Just as changes to the formula
have been made over the years to steadily increase the state's
share, change is again needed to allow the gaming industry to earn
a fair rate of return on their investments taking into account the
increased gaming supply in the region.  The "Delaware Lottery &
Gaming Study Commission" has reconvened and will be meeting
through the end of the year with commission recommendations to the
Governor and the legislature due by January 15."

A copy of the press release is available for free at:

                       http://is.gd/XNIf9v

Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE),
Dover Downs Hotel & Casino(R) is a gaming and entertainment resort
destination in the Mid-Atlantic region. Gaming operations consist
of approximately 2,500 slots and a full complement of table games
including poker.  The AAA-rated Four Diamond hotel is Delaware's
largest with 500 luxurious rooms/suites and amenities including a
full-service spa/salon, concert hall and 41,500 sq. ft. of multi-
use event space.  Live, world-class harness racing is featured
November through April, and horse racing is simulcast year-round.
Professional football parlay betting is accepted during the
season.  Additional property amenities include multiple
restaurants from fine dining to casual fare, bars/lounges and
retail shops.  For more information, please visit
www.doverdowns.com.

As reported by the TCR on Oct. 31, 2014, Dover Downs was notified
by the New York Stock Exchange that the average closing price of
our common stock had fallen below $1.00 per share over a period of
30 consecutive trading days, which is the minimum average share
price for continued listing on the NYSE under the NYSE Listed
Company Manual.

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company's credit facility expires on June 17, 2014, and at
present no agreement has been reached to refinance the debt, which
raises substantial doubt about the Company's ability to continue
as a going concern.


DOVER DOWNS: Posts $699,000 Net Earnings in Third Quarter
---------------------------------------------------------
Dover Downs Gaming & Entertainment, Inc., reported net earnings of
$699,000 on $47.98 million of revenues for the three months ended
Sept. 30, 2014, compared to net earnings of $223,000 on $50.07
million of revenues for the same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $190,000 on $139.67 million of revenues compared to
net earnings of $431,000 on $150.63 million of revenues for the
same period a year ago.

As of Sept. 30, 2014, the Company had $185.15 million in total
assets, $68.83 million in total liabilities, and $116.31 million
in total stockholders' equity.

Denis McGlynn, the Company's president and chief executive
officer, stated: "While the legislation that was passed on June 30
has been helpful, we have operated at a loss for the first nine
months of the year.  We're continuing our discussions with the
state with the goal of arriving at a new formula for the
distribution of gaming revenues.  Just as changes to the formula
have been made over the years to steadily increase the state's
share, change is again needed to allow the gaming industry to earn
a fair rate of return on their investments taking into account the
increased gaming supply in the region.  The "Delaware Lottery &
Gaming Study Commission" has reconvened and will be meeting
through the end of the year with commission recommendations to the
Governor and the legislature due by January 15."

A copy of the press release is available for free at:

                       http://is.gd/XNIf9v

Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE),
Dover Downs Hotel & Casino(R) is a gaming and entertainment resort
destination in the Mid-Atlantic region. Gaming operations consist
of approximately 2,500 slots and a full complement of table games
including poker.  The AAA-rated Four Diamond hotel is Delaware's
largest with 500 luxurious rooms/suites and amenities including a
full-service spa/salon, concert hall and 41,500 sq. ft. of multi-
use event space.  Live, world-class harness racing is featured
November through April, and horse racing is simulcast year-round.
Professional football parlay betting is accepted during the
season.  Additional property amenities include multiple
restaurants from fine dining to casual fare, bars/lounges and
retail shops.  For more information, please visit
www.doverdowns.com.

As reported by the TCR on Oct. 31, 2014, Dover Downs was notified
by the New York Stock Exchange that the average closing price of
our common stock had fallen below $1.00 per share over a period of
30 consecutive trading days, which is the minimum average share
price for continued listing on the NYSE under the NYSE Listed
Company Manual.

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company's credit facility expires on June 17, 2014, and at
present no agreement has been reached to refinance the debt, which
raises substantial doubt about the Company's ability to continue
as a going concern.


EC SEQUIM: Case Summary & 4 Unsecured Creditors
-----------------------------------------------
Debtor: EC Sequim Properties, LLC
        c/o Gary Morgan
        2930 216th Street SW
        Lynnwood, WA 98036

Case No.: 14-18131

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 5, 2014

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Hon. Karen A. Overstreet

Debtor's Counsel: Nathan T. Riordan, Esq.
                  RIORDAN LAW PS
                  600 Stewart St Ste 1300
                  Seattle, WA 98101
                  Tel: 206-903-0401
                  Email: nate@riordan-law.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Hilda Rodriguez, member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/wawb14-18131.pdf


EDGEFIELD INN: Creditor Wins Dismissal of Chapter 11 Case
---------------------------------------------------------
Chief Bankruptcy Judge David R. Duncan granted the motion of
Scarlet Portfolio, LLC to dismiss the Chapter 11 bankruptcy case
of Edgefield Inn, LLC.

Edgefield Inn filed for protection under chapter 11 of the
Bankruptcy Code (Bankr. D. S.C. Case No. 14-01670-DD) on March 24,
2014.  The Debtor is a small business, as defined by 11 U.S.C.
Sec. 101(51D), consisting of a 46-room inn in Edgefield, SC.  All
of the Debtor's real estate and personal property is encumbered by
a loan from Scarlet Portfolio, scheduled at $853,121.  The Debtor
has two tax creditors, the Internal Revenue Service and Edgefield
County, with scheduled claims of $25,000 and $20,522,
respectively.  Both claims are scheduled as secured.  The Debtor
values its property at $910,606; thus, all secured creditors are,
or were at the time of the filing, oversecured.  The Debtor
scheduled an insider debt of $1,309,203 owed to Bettis Rainsford,
Edgefield Inn's sole owner.  The deadline for filing proofs of
claim in this case was July 28, 2014.

Creditor Scarlet Portfolio filed its motion to dismiss on August
19, 2014.  Scarlet Portfolio argues that the case should be
dismissed for cause because (1) the Debtor cannot propose a plan
with an impaired, consenting class and therefore cannot confirm a
plan; and (2) the Debtor filed in bad faith in that it has no
realistic ability to reorganize and it made improper pre-petition
payments to insiders it is not seeking to collect. Scarlet
Portfolio seeks dismissal with prejudice based on the Debtor's
alleged bad faith.

The Debtor responded that the Debtor's business is healthy and can
be rehabilitated.1 It also asserted it will be able to propose a
plan with an impaired, consenting class. The Debtor filed its
first plan on October 2, shortly after responding to the motion to
dismiss.

The plan has five classes. Class 1 consists of the secured claims
of Scarlet Portfolio and the IRS.  The Scarlet Portfolio claim
will be paid the value of its collateral up to the full amount of
the claim with interest for 119 months with a balloon payment in
the 120th month.  The IRS claim will be paid in full with interest
over five years.  Class 2 consists of the unsecured claims of the
IRS and Scarlet Portfolio, if any.  They will be paid in full in
equal monthly amounts over 300 months.  Class 3 consists of
"claims of maintenance companies who perform work on a regular
basis for the Debtor."  These claimants, who were neither
scheduled nor filed proofs of claim, will "continue to be paid for
services rendered as performed."  Class 4 is the general unsecured
class consisting of the Rainsford insider claim. Rainsford agrees
to waive payment on his claim if the plan is confirmed and he
retains ownership of the Debtor.  Class 5 is the equity class. It
will revest in the Debtor upon confirmation.  The Edgefield County
claim is not classified, but rather is treated under Article III
of the plan as a priority tax claim.  It will be paid in full with
interest in monthly installments over a period of 54 months.

On October 7, 2014, the day before the hearing, the Debtor filed
an amended plan and disclosure statement, as well as two new
unsecured proofs of claim.  The most notable change relevant to
this plan is the change to Class 3.  Class 3 was redefined to drop
the claim of the maintenance companies and add the two new claims.
The first claim is the claim of Patricia Berry for executive
compensation totaling $6,250.  The plan proposes to pay this claim
with interest over 60 months in payments of $115.10 per month. The
second claim is a class claim on behalf of the current employees
of Edgefield Inn for Christmas bonuses accrued from Jan. 1, 2014
through the filing of the petition.  The total claim is $363.84.
The plan proposes to pay this claim with interest over a period of
60 months in payments of $6.70 per month.

The Court held a hearing on the motion to dismiss October 8, 2014.

In support of its argument, Scarlet Portfolio provided the Court
with testimony from an asset manager from Sabal Financial Group,
L.P, the company servicing Scarlet Portfolio's debt.  The manager
generally established the debt and testified that the Debtor's
financial statements show unexplained transfers between the Debtor
and two other businesses owned by Rainsford.  He also testified
that, in his experience, Edgefield Inn has an unusually high
number of employees for its size; overspends on breakfast; and
lacks enough funds in reserve to keep the Inn's rooms and
furnishings properly maintained.  He concluded on these facts that
Edgefield Inn would have problems successfully reorganizing.

The Debtor presented testimony from its owner, Bettis Rainsford.
Rainsford testified that the Debtor had been making payments on
its debt owned by Scarlet Portfolio since 1997 and had only
recently experienced cash flow problems.  He testified that the
Debtor filed for bankruptcy because it was unable to renegotiate
the terms of its loan and was facing foreclosure.  He asserted
that Edgefield Inn is well-maintained and currently experiencing
full or close to full occupancy.  He also said he believes that
the Inn is positioned to do well in the future because of a new
outdoor sporting and recreation development under construction in
Edgefield.

Patricia Berry also testified. Berry is the general manager of
Edgefield Inn. She was hired in May of 2012. She testified that
she was unhappy with the salary she was initially offered but
accepted employment anyway because Rainsford committed to
increasing her yearly salary from $25,000 to $40,000 over time if
the occupancy of the Inn improved.  After completing her first
year of employment, Berry asked Rainsford for a raise.  Rainsford
told her that the business could not afford to pay her more at
that time because it was having financial problems.  She revisited
this conversation with him later in July of 2014 and he agreed to
give her a raise.  Berry was aware that Edgefield Inn was in
bankruptcy, and saw the "debtor in possession" designation on the
Edgefield Inn checks, but when she was told the business was doing
fine she did not inquire further.  Berry and Rainsford did not
have a conversation about filing a proof of claim in this case
until shortly before the hearing.

Berry also testified regarding the Employees claim, which she
drafted.  She stated that the employees have received Christmas
bonuses every year and are worried they will not receive Christmas
bonuses for the time they worked in 2014 prior to the filing of
the bankruptcy.  She stated the employees asked her to file a
proof of claim on their behalf.  She also did not discuss the
filing of this claim with the Debtor until shortly before the
hearing.

Berry reiterated Rainsford's assertion that the Inn is doing well.
She stated they were nearly sold out on the evening of the hearing
and were sold out through the following weekend.

According to Judge Duncan, "The Rainsford insider class cannot
vote.  The unclassified Edgefield County claim cannot vote.  The
Berry and Employees claims cannot vote.  Scarlet Portfolio, whose
vote controls both Classes 1 and 2, has indicated it will reject
the plan.  Thus, due to the nature of the claims in this case,
there is no plan the Debtor can propose that would permit the
Court to confirm the plan. Because the Debtor cannot file a
confirmable plan, the case must be dismissed."

A copy of Judge Duncan's Oct. 31 Order is available at
http://bit.ly/1vG2QHafrom Leagle.com.


EMMANUEL COLLEGE: Misses Nov. 1 Bond Payment Deadline
-----------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that
Georgia's Emmanuel College missed a Nov. 1 deadline to make a
payment on about $25.2 million worth of municipal bonds that were
used to build a dorm and athletic complex.  According to the
report, the private, four-year Christian college's failure to make
that payment prompted a bond trustee to take about $1.1 million
out of the college's reserve fund, according to documents filed
Wednesday to the Municipal Securities Rulemaking Board 's database
of bond disclosures.


EMPIRE RESORTS: Stephen Haberkorn Owns 7.9% Equity Stake
--------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Stephen Haberkorn disclosed that as of June 2, 2014,
he beneficially owned 2,953,761 shares of common stock of
Empire Resorts, Inc., representing 7.9 percent of the shares
outstanding.

Mr. Haberkorn has sole voting and dispositive power with respect
to 2,953,761 shares of the reported securities as (i) trustee to
certain trusts for the benefit of family members; (ii) trustee for
a charitable foundation; and (iii) in his personal capacity.

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

                        http://is.gd/7jZjTP

                        About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common shares of
$27.05 million in 2013 following a net loss applicable to common
shares of $2.26 million in 2012.

As of June 30, 2014, the Company had $46.11 million in total
assets, $55.62 million in total liabilities and a $9.51 million
total stockholders' deficit.


EMPIRE TOWERS: Clawback Suit Against Bank of Glen Burnie Tossed
---------------------------------------------------------------
Bankruptcy Judge James F. Schneider granted the motion of
defendant Bank of Glen Burnie to dismiss the Amended Complaint
filed by the Chapter 7 Trustee of Empire Towers Corporation to
recover fraudulent conveyances.

Wilfred T. Azar, III, is the owner and principal of Empire Towers
Corporation, Empire Holdings Corporation, Empire Corporation, and
Empire Management Services, LLC.

As of the Oct. 27, 2010, Towers owned real property at 7300 and
7310 Governor Ritchie Highway, Glen Burnie, Maryland 21061, in
which Towers leased office and retail space to various tenants for
rent payable to Towers in monthly installments.  Azar directed the
tenants to make their rental payments to Corp., a separate legal
entity, which deposited the rents into its own account.

Corp. retained some of the rent proceeds for its own use and
transferred some to third parties, including the Bank of Glen
Burnie.  Corp. owns property at 500 and 502 Crain Highway, Glen
Burnie, Maryland 21061, and derives rent from its long-term
tenant, Enterprise Leasing Co. of Baltimore.

The Bank made a loan to Corp. secured by both a deed of trust on
Corp. Property as well as two assignments of rents generated by
Corp. Property.

On October 25, 2012, the Chapter 7 Trustee filed the adversary
proceeding to recover fraudulent conveyances from the Bank and
Corp.  On March 4, 2013, the Bank filed the motion to dismiss the
amended complaint on the basis that the Trustee's claims against
the Bank are barred by Section 550(b)(1) of the Bankruptcy Code,
and that the complaint should be dismissed for failure to state a
cause of action under Federal Rule of Civil Procedure 12(b)(6),
(c), and (d).

The case is, JOSEPH J. BELLINGER, Plaintiff/Trustee, v. THE BANK
OF GLEN BURNIE and EMPIRE CORPORATION, Defendants, Adv. Proc. No.
12-00713-JS (Bankr. D. Md.).  A copy of the Court's Oct. 15
Memorandum Opinion is available at http://bit.ly/10xGgrSfrom
Leagle.com.

             About Empire Towers and Empire Holdings

Empire Towers Corporation is the owner of a real property located
at 7300-7310 Ritchie Highway, Glen Burnie, Maryland.  The office
building, built on the property in 1974, is the tallest building
in northern Anne Arundel County and currently leases space to
business and retail enterprises of a wide variety.

Empire Towers filed for Chapter 11 bankruptcy protection (Bankr.
D. Md. Case No. 10-34611) on Oct. 27, 2010.  Its parent Empire
Holdings Corporation also filed for Chapter 11 (Bankr. D. Md. Case
No. 10-34580).  Aryeh E. Stein, Esq., at Meridian Law LLC, in
Baltimore, Maryland, assisted the Debtors in their restructuring
effort.  The Debtors disclosed $12,482,584 in assets and
$14,876,779 in liabilities as of the Chapter 11 filing.

On April 27, 2011, upon the motion of the United States Trustee,
Joseph J. Bellinger was appointed Chapter 11 Trustee, and upon a
motion to convert filed by the U.S. Trustee, the Bankruptcy Court
converted the case to a proceeding under Chapter 7 by order dated
May 16, 2011.

The appointment of the Trustee and the conversion of the case to
Chapter 7 were based upon allegations by the United States Trustee
that a deficiency existed in "the debtor-in-possession bank
accounts of net rental income from the debtors' operations," that
"the debtors have never filed with the Court ANY reports of
operations since filing the cases," and that "[u]pon information
and belief, substantial rental income has been diverted from these
debtors-in-possession or, at least is unaccounted for."


ENDEAVOUR INT'L: Restructuring Support Agreement Filed
------------------------------------------------------
BankruptcyData reported that Endeavour International asked
authority from the U.S. Bankruptcy Court to assume a restructuring
support agreement, which reduces Endeavour's existing debt by
approximately $568 million, reduces its annual interest burden by
approximately 43%, and frees approximately $50 million in cash
flow for reinvestment into preserving and developing its
businesses.

According to the report, in late June 2014, recognizing the
benefits of a cooperative restructuring process, Endeavour
initiated negotiations with its disparate creditor groups in an
effort to broker a proposed restructuring transaction that would
significantly de-lever Endeavour and reduce its approximately $1.2
billion in debt.  Under the Restructuring Support Agreement,
holders of approximately 75.4% of the March 2018 First Priority
Notes, 69.88% of the Second Priority Notes, 66.7% of the
Convertible Notes (comprised of 62.15% of the 5.5% Convertible
Notes and 100% of the 6.5% Convertible Senior Notes) and 99.75% of
the 7.5% Convertible Bonds have agreed to support the Endeavour
plan of reorganization, the report related.

The Court scheduled a November 10, 2014 hearing to consider the
motion and objections must be filed by November 3, 2014.

                 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.


ENERGY FUTURE: Posts $49MM Net Income in Third Quarter
------------------------------------------------------
Energy Future Holdings Corp. filed with the Securities and
Exchange Commission its report on Form 10-Q for the quarterly
period ended September 30, 2014.

EFH Corp posted net income of $49 million during the quarter
compared to $5 million for the same period last year.  Operating
revenues were $1.807 billion for the three-month period, compared
to $1.893 billion during the same period last year.

However, for the past nine months, EFH Corp posted $1.334 billion
of net losses.  During the nine-month period in 2013, EFH Corp's
net loss was $635 million.  Operating revenues were $4.731 billion
for the nine-month period, compared to $4.572 billion during the
same period in 2013.

EFH Corp. reported $35.884 billion in total assets against $1.968
billion in total liabilities.

A copy of the Form 10-Q Report is available at
http://1.usa.gov/1E9ze9H

            Proposed Sale of Economic Interest in Oncor

In September 2014, with input and support from several key
stakeholders, the Debtors filed a motion with the Bankruptcy Court
seeking the entry of an order approving bidding procedures with
respect to the potential sale of EFH Corp.'s/EFIH's economic
interest in Oncor. During October 2014, the bankruptcy court held
hearings regarding the motion.

On November 3, 2014, the Bankruptcy Court conditionally approved
the motion. In conditionally approving the motion, the Bankruptcy
Court required that, among other things, the Debtors modify the
proposed bidding procedures and order to (a) allow up to five
advisors for each of the official unsecured creditor committees at
TCEH and EFH Corp./EFIH to access information regarding the
bidding process on terms to be negotiated with these advisors, (b)
allow additional time for bidders to evaluate potential
transactions and submit bids and (c) prohibit material
modifications to the bid procedures without the consent of the
committees or further order of the Bankruptcy Court.

In addition, the Bankruptcy Court required that prior to a
modified order becoming effective, the respective boards of
directors of EFH Corp., EFCH, TCEH and EFIH must vote to approve
the proposed modified bidding procedures (along with an
affirmative vote of the respective disinterested directors at EFIH
and TCEH). The Debtors intend to continue to work closely with
each of their respective stakeholders to formulate a bidding
process that will maximize enterprise value for each of the
Debtors.

                            Tax Matters

In June 2014, EFH Corp. filed a request with the IRS for a private
letter ruling (Private Letter Ruling) that, among other things,
will provide (a) that (i) the transfer by TCEH of all of its
assets and its ordinary course operating liabilities to
reorganized TCEH consummated through a tax-free spin (in
accordance with the Private Letter Ruling) in connection with
TCEH's emergence from bankruptcy (Reorganized TCEH), (ii) the
transfer by the Debtors to Reorganized TCEH of certain operating
assets and liabilities that are reasonably necessary to the
operation of Reorganized TCEH and (iii) the distribution by TCEH
of (A) the equity it holds in Reorganized TCEH and (B) the cash
proceeds TCEH receives from Reorganized TCEH to the holders of
TCEH first lien claims, will qualify as a "reorganization" within
the meaning of Sections 368(a)(1)(G), 355 and 356 of the Code and
(b) for certain other rulings under Sections 368(a)(1)(G) and 355
of the Code. The Debtors intend to continue to pursue the Private
Letter Ruling in connection with any Chapter 11 plan of
reorganization that is ultimately proposed.

In October 2014, the Debtors filed a memorandum with the
Bankruptcy Court that described tax related matters regarding
restructuring alternatives.

                        Pre-Petition Claims

Holders of pre-petition claims will be required to file proofs of
claims by the "bar date" established by the Bankruptcy Court. A
bar date is the date by which certain claims against the Debtors
must be filed if the claimants wish to receive any distribution in
the Chapter 11 Cases. In August 2014, the Bankruptcy Court
established a bar date of October 27, 2014 for most claims.

"We have received numerous proofs of claim since the Petition
Date. We are early in the process of reconciling those claims to
the amounts listed in our schedules of assets and liabilities. We
may ask the Bankruptcy Court to disallow claims that we believe
are duplicative, have been later amended or superseded, are
without merit, are overstated or should be disallowed for other
reasons. Given the substantial number of claims filed, the claims
resolution process will take considerable time to complete," the
Company said.

                       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: U.S. Trustee Balks at Employment of Ernst & Young
----------------------------------------------------------------
Roberta A. DeAngelis, U.S. Trustee for Region 3, objected to
Energy Future Holdings Corp., et al.'s motion for permission to
employ Ernst & Young LLP as providers of tax advisory and
information technology services effective nunc pro tunc to the
Petition Date.

According to the U.S. Trustee, EY has an actual conflict by
representing a party with interests that are adverse to the
Debtors' estates.  It notes that the Debtors sought to employ EY
when it has been working for the Ad Hoc Committee of EFIH
Unsecured Noteholders for nearly a year and will continue to do so
at the Debtors' expense.

As reported in the Troubled Company Reporter on June 11, 2014,
pursuant to the appliation, EY will provide certain tax
advisory and information technology consulting services, in
connection with the chapter 11 cases.

                       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.


EXIDE TECHNOLOGIES: Enters Into Plan Support Pact With Noteholders
------------------------------------------------------------------
Exide Technologies Inc. has entered into a plan support agreement
with holders of a majority of the principal amount of the
Company's senior secured notes.  The PSA includes a detailed term
sheet which describes a plan of reorganization.

Pursuant to the PSA, the Supporting Noteholders, who also hold a
substantial majority of the Company's estimated $360 million DIP
Credit Facility's term loan, have agreed to support the Plan which
would deleverage the Company by more than $600 million and allow
Exide to emerge from Chapter 11 substantially in its current form
-- operating across all of its existing business segments.

Under the Plan, certain of the Supporting Noteholders have agreed
to convert at least $100 million of their DIP facility claims into
new second lien convertible debt and roll the balance of their DIP
loans into a new exit term loan.  The Plan also contemplates a new
$175 million capital commitment to be raised in a rights offering
made available to eligible holders of the Debtor's pre-petition
8.625 percent senior secured notes.  There is substantial support
among the Supporting Noteholders for entering into a backstop
agreement for the new capital, and the Company continues to
negotiate the terms of such an agreement with the hopes of
finalizing it in the coming weeks.

In addition, the Company has initiated the sales process
contemplated by the terms of Amendment No. 8 of its DIP facility,
which the U.S. Bankruptcy Court approved on Oct. 31, 2014, by
soliciting potential interest from third parties for a sale of the
Company's businesses.  This dual-track process will allow the
Company to ensure that it has explored opportunities to maximize
estate value.

"The PSA is another significant, positive step forward in our
restructuring process," said Robert M. Caruso, the Company's
President and Chief Executive Officer.

The PSA and Term Sheet are conditioned upon the negotiation of,
and agreement to, definitive documents (including a plan of
reorganization, disclosure statement, backstop commitment
agreement, and other related documents and agreements).

The Company aims to emerge from the Chapter 11 restructuring of
its U.S. operations by March 31, 2015.

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.
Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP represented the Debtors in their successful
restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.  Exide disclosed $1.89 billion in
assets and $1.14 billion in liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang
Ziehl & Jones LLP as counsel; Alvarez & Marsal as financial
advisor; Sitrick and Company Inc. as public relations consultant
and GCG as claims agent.  Schnader Harrison Segal & Lewis LLP was
tapped as special counsel.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel.  Zolfo Cooper, LLC serves as its bankruptcy
consultants and financial advisors.  Geosyntec Consultants was
tapped as environmental consultants to the Committee.

Robert J. Keach of the law firm Bernstein Shur as fee examiner has
been appointed as fee examiner.  He has hired his own firm as
counsel.


FALCON STEEL: Committee Seeks to Retain Deloitte as Fin'l Advisor
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the case of
Falcon Steel Company and New Falcon Steel, LLC, seeks permission
from the Bankruptcy Court to retain Deloitte Transactions and
Business Analytics LLP as its financial advisor.

As financial advisor, Deloitte Transactions is expected to:

   a. Assist the Committee with its evaluation of the Debtors'
      financial restructuring process, including its analysis of
      the development of plans of reorganization and related
      disclosure statement(s);

   b. Assist the Committee in its analysis of Chapter 11 plan,
      disclosure statements, and related documents and
      information, including preliminary and updated assessments
      of the Debtors' forecasts and assertions of feasibility; and

   c. Assist the Committee in connection with its initial
      evaluation of the business and financial impact of various
      operational, financial, and strategic restructuring
      alternatives.

The firm's standard rates are:

    Professional                               Hourly Rates
    ------------                               ------------
    Louis E. Robichaux, IV, Principal           $625/hour
    Russell A. Perry, Senior Vice President     $475/hour

Louis E. Robichaux IV, a principal at Deloitte Transactions,
assures the Court that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

                    About Falcon Steel Company

Falcon Steel Company and New Falcon Steel, LLC, sought Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Texas, Fort Worth Division (Case Nos. 14-42585 and 14-42586) on
June 29, 2014.  Falcon Steel claims to be the only American-owned
company that builds steel lattice towers for high electrical
transmission lines.

Falcon Steel was formed in 1963 and has operated continuously
since that time as a manufacturer engaged in fabricating and
galvanizing structural steel for customers in the United States.
New Falcon, a subsidiary, suspended operations in June 2013 and is
being held for sale.

Falcon has three manufacturing plants in the DFW area in Texas,
with one facility in Haltom City, another in Euless, and the third
facility in Kaufman, Texas.  The company's corporate headquarters
is located at its Haltom City plant.  It currently employs
approximately 255 employees.

Bankruptcy Judge D. Michael Lynn, in an amended order, directed
the joint administration of the case of Falcon Steel Company and
New Falcon Steel, LLC (Lead Case No. 14-42585).

Falcon Steel estimated assets and debt of $10 million to $50
million.

The Debtors have tapped Forshey & Prostok, LLP, as general counsel
and employ Decker, Jones, McMackin, McClane, Hall & Bates, P.C. as
special corporate counsel.  Ryan LLC acts as property tax
consultant.  The Debtors also tapped Western Operations LLC as
financial consultant, and Rylander, Clay & Opitz, LLP, as
accountants.

The U.S. Trustee has appointed a five-member panel to serve as the
official unsecured creditors committee in the Debtors' cases.  The
Committee has tapped McCathern, PLLC, as counsel.


FALCON STEEL: Panel Objects to Exclusive Period Extensions
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Falcon Steel
Company and New Falcon Steel, LLC, filed an objection to the
Debtors' motion for an extension of their exclusive period for
filing and soliciting acceptances of a plan of reorganization.

The Committee complains that the Debtors have achieved very
little, if anything, in the case towards confirming a plan.  To
date, the Committee points out, the Debtors have incurred over
$500,000 in professional fees, and have little to show for it
other than to have employed or sought to employ a host of
professionals, including a CRO, whose application was withdrawn
after substantial objections were made, and the Debtors' former
CEO whose application sought a broad release of liability.

The Debtors do not even have a simple set of financial
projections, the Committee laments.  The Committee says that
perhaps more troubling is that the Debtors are apparently
attempting to market and sell certain significant assets without
prior Court approval or the employment of professionals to do so,
all the while cutting out the Committee from any meaningful plan
negotiations.

Instead, the Committee continues, the Debtors appear to be
focusing their efforts on negotiating a plan with Texas Capital
Bank -- the very party who brought the Debtors to their knees and
forced them to file bankruptcy after sweeping $1.4 million of cash
from FSC's bank account.

The Committee adds that other than basic loan documents, the
Debtors have not provided any documents it has requested,
including any plan projections by which it can reasonably evaluate
plan terms proposed by the Debtors or Texas Capital, and Texas
Capital has sought to stall the production of such documents on
the basis that a 100 cent plan might well be confirmed.

The Committee is concerned that the Debtors and Texas Capital are
attempting to negotiate a "take it or leave it" plan -- a plan
which might provide for the retention of equity without new value,
and which may even provide equity to Texas Capital -- without the
Committee's full participation or input, and without discussing
the impact of potential claims that could be brought against Texas
Capital and other parties, including the Debtors' current or
former officers and directors.

"Simply put, it appears that the Debtors and Texas Capital have
preempted any attempts by the Committee or other parties from
meaningfully negotiating plan terms that are based on anything
other than the Debtors' revenue from operations and a continuation
of a troubling relationship with Texas Capital," the Committee
contends.

The Committee asserts that the Debtors cannot establish "cause" to
extend exclusivity given the problematic nature of their conduct
and lack of progress towards a consensual plan.  Therefore, the
Committee asks the Court to deny the Exclusivity Motion so that
other parties, including the Committee, may develop, file, and
seek confirmation of plans of reorganization.

The Troubled Company Reporter related on Oct. 21, 2014, that the
Debtors sought an extension of their exclusive plan filing period
through Dec. 26, 2014, and their exclusive plan solicitation
period through Feb. 24, 2015.

                    About Falcon Steel Company

Falcon Steel Company and New Falcon Steel, LLC, sought Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Texas, Fort Worth Division (Case Nos. 14-42585 and 14-42586) on
June 29, 2014.  Falcon Steel claims to be the only American-owned
company that builds steel lattice towers for high electrical
transmission lines.

Falcon Steel was formed in 1963 and has operated continuously
since that time as a manufacturer engaged in fabricating and
galvanizing structural steel for customers in the United States.
New Falcon, a subsidiary, suspended operations in June 2013 and is
being held for sale.

Falcon has three manufacturing plants in the DFW area in Texas,
with one facility in Haltom City, another in Euless, and the third
facility in Kaufman, Texas.  The company's corporate headquarters
is located at its Haltom City plant.  It currently employs
approximately 255 employees.

Bankruptcy Judge D. Michael Lynn, in an amended order, directed
the joint administration of the case of Falcon Steel Company and
New Falcon Steel, LLC (Lead Case No. 14-42585).

Falcon Steel estimated assets and debt of $10 million to $50
million.

The Debtors have tapped Forshey & Prostok, LLP, as general counsel
and employ Decker, Jones, McMackin, McClane, Hall & Bates, P.C. as
special corporate counsel.  Ryan LLC acts as property tax
consultant.  The Debtors also tapped Western Operations LLC as
financial consultant, and Rylander, Clay & Opitz, LLP, as
accountants.

The U.S. Trustee has appointed a five-member panel to serve as the
official unsecured creditors committee in the Debtors' cases.  The
Committee has tapped McCathern, PLLC, as counsel.


FALCON STEEL: Texas Capital Bank Wants Short Plan Extension
-----------------------------------------------------------
Secured creditor Texas Capital Bank, National Association, asks
the Bankruptcy Court to enter an order extending the Debtors'
exclusivity periods for only 30 days.

Texas Capital relates that it provided the Debtors with a detailed
plan term sheet on Oct. 3, 2014, and the Debtors did not deliver a
response to the term sheet until Oct. 20.  Although the Debtors'
response took more time than Texas Capital had hoped, in light of
the exchange of plan term sheets, Texas Capital anticipates the
parties will continue to work in good faith toward confirmation of
a consensual plan.

A 30-day extension should give the parties sufficient time to
negotiate plan terms or, at least, determine whether significant
progress is being made and an additional extension of time is
warranted, Texas Capital says.

                    About Falcon Steel Company

Falcon Steel Company and New Falcon Steel, LLC, sought Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Texas, Fort Worth Division (Case Nos. 14-42585 and 14-42586) on
June 29, 2014.  Falcon Steel claims to be the only American-owned
company that builds steel lattice towers for high electrical
transmission lines.

Falcon Steel was formed in 1963 and has operated continuously
since that time as a manufacturer engaged in fabricating and
galvanizing structural steel for customers in the United States.
New Falcon, a subsidiary, suspended operations in June 2013 and is
being held for sale.

Falcon has three manufacturing plants in the DFW area in Texas,
with one facility in Haltom City, another in Euless, and the third
facility in Kaufman, Texas.  The company's corporate headquarters
is located at its Haltom City plant.  It currently employs
approximately 255 employees.

Bankruptcy Judge D. Michael Lynn, in an amended order, directed
the joint administration of the case of Falcon Steel Company and
New Falcon Steel, LLC (Lead Case No. 14-42585).

Falcon Steel estimated assets and debt of $10 million to $50
million.

The Debtors have tapped Forshey & Prostok, LLP, as general counsel
and employ Decker, Jones, McMackin, McClane, Hall & Bates, P.C. as
special corporate counsel.  Ryan LLC acts as property tax
consultant.  The Debtors also tapped Western Operations LLC as
financial consultant, and Rylander, Clay & Opitz, LLP, as
accountants.

The U.S. Trustee has appointed a five-member panel to serve as the
official unsecured creditors committee in the Debtors' cases.  The
Committee has tapped McCathern, PLLC, as counsel.


FINJAN HOLDINGS: Amends Employment Agreement With CFO
-----------------------------------------------------
Finjan Holdings, Inc., entered into an amended and restated
employment agreement with Shimon Steinmetz, the Company's chief
financial officer and treasurer, according to a regulatory filing
with the U.S. Securities and Exchange Commission.

The Agreement provides that Mr. Steinmetz will continue as the
Company's chief financial officer and treasurer through an initial
term ending on Nov. 30, 2014, subject to extension on a monthly or
other basis as mutually agreed between the Company and Mr.
Steinmetz, unless earlier terminated.  The Agreement provides for
a base salary of $200,000, an annual target bonus of $50,000 and
eligibility for participation in the Company's equity incentive
plans and benefits programs.

The Company may terminate Mr. Steinmetz at any time, and if that
termination is without cause or results from the failure by the
Company and Mr. Steinmetz to renew the Executive's employment
beyond the Initial Term, the Executive will be entitled to a two
month transition period ending on Jan. 31, 2015.  Following that
transition period, Mr. Steinmetz will be entitled, in addition to
any accrued obligations (including base salary and the 2014 annual
target bonus), to a severance payment that includes, among other
things, six months of base salary, 50% of the 2015 annual target
bonus, accelerated vesting of up to 57,911 options to purchase
shares of common stock, which options will remain exercisable
until June 30, 2016, and payment of certain expenses.

                           About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan Holdings reported a net loss of $6.07 million in 2013
following net income of $50.98 million in 2012.  The Company
reported a net loss of $2 million on $175,000 of revenues for the
three months ended March 31, 2014.

The Company's balance sheet at June 30, 2014, showed $24.51
million in total assets, $2.05 million in total liabilities and
$22.46 million in total stockholders' equity.


FIRED UP: Gets Court Approval to Borrow $450,000 from IBW
---------------------------------------------------------
Fired Up Inc. received the green light from U.S. Bankruptcy Judge
Tony Davis to borrow up to $450,000 from Independent Bank of Waco
to finance its acquisition of a new point of sale system.

The loan will be repaid in monthly installments at an interest
rate of 3.5%.  It will be secured by a certificate of deposit
posted by two of Fired Up's shareholders, Creed and Lynn Ford.

The company's property won't be subject to any liens to secure the
post-petition financing, according to Judge Davis' order.

                       About Fired Up, Inc.

Fired Up, Inc., the Austin, Texas-based owner and operator of the
Johnny Carino's Italian restaurant chain, sought Chapter 11
bankruptcy protection (Bankr. W.D. Tex. Case No. 14-10447) on
March 27, 2014, in Austin.  The Debtor is represented by attorneys
at Barron & Newburger, P.C., in Austin.  It estimated assets and
debt of $10 million to $50 million.

As of the bankruptcy filing, Fired Up had 2,900 employees and
owned and operated 46 company-owned stores known as Johnny
Carino's Italian in seven states (Texas, Arkansas, Colorado,
Louisiana, Idaho, Kansas and Missouri) and 61 franchised or
licensed locations in 17 states and four other countries (Bahrain,
Dubai, Egypt and Kuwait).

The company began its own "out of court" reorganization in the
last quarter of 2013 by closing 20 unprofitable restaurants.  The
company later opted to seek bankruptcy protection to tie up the
"loose ends" of its self-imposed "reorganization" that did not
appear capable of being tied up without litigation.  In
particular, the provisions of the Bankruptcy Code with respect to
the rejection of burdensome leases and the ability to propose and
pay out its debts pursuant to a Plan without piecemeal prosecution
by random uncooperative creditors undermining same were
particularly attractive.

For the fiscal year ending June 27, 2012, the company reported
total revenues of $125.7 million, net income of $614,000, and
guest counts of 8.6 million.  For the fiscal year ending June 26,
2013, the company reported total revenues of $120.8 million, a net
loss of $5.9 million, and guest counts totaling 8.5 million.

The Debtor disclosed $10,360,877 in assets and $36,139,375 in
liabilities.

Creed Ford III is the majority shareholder and has served as
president and CEO since 2008.   Mr. Ford and Norman J. Abdallah
formed Fired Up in 1997 for the purpose of acquiring the then six-
unit Johnny Carino's Italian Kitchen chain from Brinker
International, Inc.

The U.S. Trustee appointed a seven-member Official Committee of
Unsecured Creditors.  The Committee tapped Pachulski Stang Ziehl &
Jones LLP as its counsel, and FTI Consulting, Inc. as its
financial advisor.


FOUR OAKS: Imposes Restrictions on Common Stock Transfer
--------------------------------------------------------
Four Oaks Fincorp, Inc., held a special meeting of shareholders on
Oct. 27, 2014, at which the shareholders approved an amendment to
the Company's Articles of Incorporation that will restrict certain
transfers of the Company's capital stock in order to preserve the
tax treatment of certain net operating losses and other tax
benefits, according to a Form 8-K filed with the U.S. Securities
and Exchange Commission.

The shareholders also ratified the Tax Asset Protection Plan,
dated as of Aug. 18, 2014, between the Company and Registrar and
Transfer Company, as Rights Agent.

On Oct. 28, 2014, Four Oaks filed Articles of Amendment to the
Company's Articles of Incorporation, as amended, with the North
Carolina Department of the Secretary of State adding a new Article
10 thereto that imposes certain transfer restrictions on the
Company's capital stock, including the Company's common stock,
$1.00 par value per share, to help preserve certain tax benefits
primarily associated with the Company's net operating losses
carryovers.  These transfer restrictions generally restrict any
direct or indirect transfer of any of the Company's capital stock
if the effect would be to: (1) increase the direct or indirect
ownership of Common Stock by any person to 4.99% or more of the
then-outstanding Common Stock; or (2) increase the percentage of
the Company's capital stock owned directly or indirectly by any
person that owned more than 4.99% of the Company's outstanding
Common Stock as of the effective time of the Charter Amendment, in
each case subject to limited exceptions.

                          About Four Oaks

Based in Four Oaks, North Carolina, Four Oaks Fincorp, Inc., is
the bank holding company for Four Oaks Bank & Trust Company.  The
Company has no significant assets other than cash, the capital
stock of the bank and its membership interest in Four Oaks
Mortgage Services, L.L.C., as well as $1,241,000 in securities
available for sale as of Dec. 31, 2011.

Four Oaks reported a net loss of $350,000 in 2013, a net loss of
$6.96 million in 2012 and a net loss of $9.09 million in 2011.

As of Sept. 30, 2014, the Company had $837.9 million in total
assets, $797.8 million in total liabilities and $40.1 million in
total shareholders' equity.

                          Written Agreement

"In late May 2011, the Company and the Bank entered into a formal
written agreement (the "Written Agreement") with the Federal
Reserve Bank of Richmond (the "FRB") and the North Carolina Office
of the Commissioner of Banks (the "NCCOB").  Under the terms of
the Written Agreement, the Bank developed and submitted for
approval, within the time periods specified, plans to:

   * revise lending and credit administration policies and
     procedures at the Bank and provide relevant training;

   * enhance the Bank's real estate appraisal policies and
     procedures;

   * enhance the Bank's loan grading and independent loan review
     programs;

   * improve the Bank's position with respect to loans,
     relationships, or other assets in excess of $750,000, which
     are now or in the future become past due more than 90 days,
     are on the Bank's problem loan list, or adversely classified
     in any report of examination of the Bank; and

   * review and revise the Bank's policy regarding the Bank's
     allowance for loan and lease losses and maintain a program
     for the maintenance of an adequate allowance.

A material failure to comply with the terms of the Written
Agreement could subject the Company to additional regulatory
actions and further restrictions on its business.  These
regulatory actions and resulting restrictions on the Company's
business may have a material adverse effect on its future results
of operations and financial condition," the Company said in its
quarterly report for the period ended March 31, 2014.


FRATERFOOD SERVICE: Landlord's $76K Claim for April Rent Okayed
---------------------------------------------------------------
Bankruptcy Judge Brian K. Tester in Puerto Rico granted the
request of DDR Del Sol LLC, S.E. for payment of administrative
expense in the total amount of $76,886.86 in the Chapter 11 case
of Fraterfood Service, Inc.

The Debtor and DDR Del Sol are parties to a lease agreement for
the lease of certain nonresidential property.  On April 7, 2014,
the Court entered an order granting the Debtor's rejection of the
Lease Agreement.

The $78,537.23 claim is for rent and other charges due and owing
for the month of April.

Judge Tester also denied the Debtor's motion requesting a nunc pro
tunc order making the effective date of the Court's granting of
the Debtor's rejection of the Lease Agreement the same date that
the Debtor filed the motion, i.e. March 25, 2014.

That amendment would have allowed the Debtor to avoid the
incurrence in the rent and other charges for the month of April as
administrative expenses.

A copy of the Court's Oct. 15, 2014 Opinion and Order is available
at http://bit.ly/1x5zw2wfrom Leagle.com.

Guaynabo, Puerto Rico-based Fraterfood Service Inc. -- aka
Burritos, aka Margaritas, aka Tierra Del Fuego, and aka Fueguito
-- filed for Chapter 11 bankruptcy (Bankr. D. P.R. Case No.
14-00002) on January 2, 2014, in Old San Juan.  Judge Brian K.
Tester presides over the case.  Charles Alfred Cuprill, Esq., at
Charles A Cuprill, PSC Law Office, serves as the Debtor's counsel.
It listed $8.92 million in assets and $13.34 million in
liabilities.  The petition was signed by Julio F. Mendez Munoz,
president.  A list of the Debtor's 20 largest unsecured creditors
is available for free at http://bankrupt.com/misc/prb14-2.pdf


GBG RANCH: Hearing on Case Dismissal Continued Sine Die
-------------------------------------------------------
The Bankruptcy Court continued the hearing on motion to dismiss
case of GBG Ranch, Ltd., to a date to be determined.

The parties, according to courtroom minutes for Oct. 16, 2014
hearing, agreed to continue the hearing on the matter.

As reported in the Troubled Company Reporter on Oct. 17, 2014,
Guillermo Benavides is seeking the dismissal of the case.  Mr.
Benavides said that the undisputed facts show that the Debtor is
neither insolvent nor unable to pay its debts as they become due.
He added 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 added that at the Sec. 341 Meeting
of Creditors, the Debtor testified that it is able to pay its
current and regular operating expenses.

In a brief submitted to the Court, the Debtor said that the movant
failed to provide notice of the motion to dismiss.  The Debtor
also said that the motion to dismiss is a case dispositive motion.
Though the movant contended that the bankruptcy proceeding filed
by the Debtor is really a two party dispute, the creditor matrix
indicated otherwise.

In a separate filing, the Debtor objected to the motion because
Guillermo Benavides Z. has failed to plead or prove any basis that
the case was made in bad faith.

The motion for appointment of a chapter 11 trustee also failed on
the face of the pleading.  It is nothing more than a litany of
legal authority which has justified the appointment of chapter 11
trustees in other cases.

The Debtor is represented by:

         Leslie M. Luttrell, Esq.
         LUTTRELL + VILLARREAL Law Group
         Tel: (210) 426-3605
         Fax: (210) 426-3610
         E-mail: luttrell@lvlawgroup.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.  GBG Ranch disclosed
$59,952,589 in assets and $5,060,423 in liabilities as of the
Chapter 11 filing.

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.


GENERAL MOTORS: Ignition-Switch Trial Set for January 2016
----------------------------------------------------------
Jeff Bennett, writing for The Wall Street Journal, reported that
U.S. District Judge Jesse M. Furman has set a January 2016 trial
date for lawsuits alleging personal injuries or deaths connected
to a defective ignition switch in General Motors Co.'s
automobiles.

According to the Journal, Texas attorney Bob Hilliard, one the
lawyers representing owners of older GM cars including Chevrolet
Cobalt, Saturn Ion and other small cars, said the trial would
pertain only to owners of vehicles involved in auto accidents that
occurred after GM emerged from bankruptcy-court protection in July
2009 or are tied to the defective switches.

Meanwhile, Stephanie Gleason, writing for Daily Bankruptcy Review,
reported that in an opening brief in GM's renewed bankruptcy case,
the auto maker is standing its ground in a fight over whether the
company is responsible for the economic losses of the owners of
2.6 million recalled vehicles.

                     About Motors Liquidation

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

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

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

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

                        *     *     *

The Troubled Company Reporter, on Sep. 29, 2014, reported that
Standard & Poor's Ratings Services raised its corporate credit
rating on U.S. automaker General Motors Co. (GM) to 'BBB-' from
'BB+', and revised the outlook to stable from positive.  At the
same time, S&P raised its issue-level rating on GM's unsecured
debt to 'BBB-' from 'BB+' and simultaneously withdrew its '4'
recovery rating on that debt, because S&P do not assign recovery
ratings to the issues of investment-grade companies.

On Oct. 21, 2014, the TCR reported that Fitch Ratings has assigned
a rating of 'BB+' to GM's amended unsecured credit facilities.
Fitch currently rates GM's Issuer Default Rating (IDR) 'BB+'.  The
Rating Outlook is Positive.  Fitch has also affirmed and withdrawn
the 'BB+' IDR of GM's General Motors Holdings LLC (GM Holdings)
subsidiary, as there is no longer any rated debt at the
subsidiary, and Fitch does not expect the subsidiary to be an
active issuer going forward.  Fitch has also withdrawn GM
Holdings' unsecured credit facility rating of 'BB+' as the
subsidiary is no longer a borrower on the facilities.

The TCR, on Nov. 6, 2014, reported that Fitch Ratings has assigned
a rating of 'BB+' to GM's proposed issuance of senior unsecured
notes.  The existing Issuer Default Rating (IDR) for GM is 'BB+'
and the Rating Outlook is Positive.


GLOBAL COMPUTER: Insists No Conflict of Interest for McGuireWoods
-----------------------------------------------------------------
Global Computer Enterprises, Inc., dba GCE, filed a reply in
further support of its application to employ McGuireWoods LLP as
counsel and in response to the arguments set forth in the
objections separately filed by the United States Trustee and the
the Department of Justice on behalf of the United States of
America.

The Oct. 17, 2014 edition of The Troubled Company Reporter related
that the U.S. Trustee and the U.S. Government raised concerns on
McGuireWoods' representation of both the Debtor and its sole
shareholder, Ray Muslimani, and the potential conflict of interest
such representation may incur.

In its reply, the Debtor asserts that the Objections, which are
based entirely on conjecture regarding a "potential" conflict that
may happen, should be overruled because the facts demonstrate that
there is no conflict of interest with McGuireWoods' dual
representation of the Debtor and its Chief Executive Officer/sole
shareholder, Mr. Muslimani, in the DOJ Investigation.

In fact, the Debtor argues, the Objections do not articulate a
single instance where the Debtor has not acted in the best
interests of the estate or its creditors or a single current fact
indicating that the Debtor's and Mr. Muslimani's interests are
divergent and therefore necessitate separate counsel. This is
because the objectors cannot do so, the Debtor maintains.
Instead, the Debtor continues, the facts establish that there is
no conflict of interest because Mr. Muslimani's and the Debtor's
interests are completely aligned.

The Debtor further contends that with respect to the DOJ
Objection, the history of the matter raises concerns that the
DOJ's true motivations lie not in its desire to enforce the
sanctity of the Bankruptcy Code, but rather in its desire to
degrade the ability of the Debtor and Mr. Muslimani to defend
themselves.  The Debtor points out that under the DOJ's misguided
interpretation of the canons of ethical conduct, an attorney would
never be able to represent both a debtor and its owner in a
government investigation.

Accordingly, the Debtor urges that Court to approve the employment
application of McGuireWoods.

                   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 GEOPHYSICAL: Confirmation Hearing Set for Dec. 9
-------------------------------------------------------
Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the
Southern District of Texas, Corpus Christi Division, on Oct. 30,
2014, approved the disclosure statement explaining the joint
Chapter 11 plan of reorganization of Global Geophysical Services,
Inc., and its debtor affiliates.

The confirmation hearing will be held on Dec. 9, 2014, at 10:00
a.m. (prevailing Central Time).  Objections to confirmation of the
Plan must be filed no later than Dec. 4.

In the event the Debtors pursue an alternative transaction,
provided the Debtors file any Amended Plan and Disclosure
Statement on or before Dec. 9, 2014, the Court shortens the time
required for notice of the hearing and objection deadline on the
Amended Disclosure Statement, and will set an appropriate time to
allow the Claimants to change their votes, if necessary, in
support of or against the Amended Plan.  The hearing to consider
approval of any Amended Disclosure Statement will be on or before
Jan. 5, 2015, and the deadline to object to the relief sought at
the hearing will be Jan. 2, 2015.

The Plan is premised upon a backstop conversion commitment
agreement negotiated with an ad hoc group of Senior Noteholders,
which holds approximately 57% of the Senior Notes and
substantially all of the Company's $151.9 million DIP Loan, and
the Official Committee of Unsecured Creditors.  The Ad Hoc Group
will convert up to $68.1 million of their debt into equity.

The Restructuring is predicated on an enterprise value for the
Reorganized Debtors of $190 million.  The Backstop Conversion
Commitment Agreement provides the Debtors the opportunity to
engage in a market test, which may result in a transaction that
implies a higher Restructuring Enterprise Value.  In particular,
the Backstop Conversion Commitment Agreement allows the Debtors to
implement a competitive sale or plan-sponsor selection process.

Under those procedures, the Debtors will solicit a binding
commitment from an entity of sufficient financial means to sponsor
a Chapter 11 plan that provides the Company with additional
capital, provides for the purchase of part or all of the Company,
or undertakes any other restructuring, provided the proposal:

   (i) provides for payment of the DIP Loan Claims in full in cash
       on the Effective Date of any plan, as well as payment of
       the Termination Payment and Expense Reimbursement;

  (ii) is based on a higher implied enterprise value than the sum
       of the Restructuring Enterprise Value, the Minimum Overbid
       Increment, the Termination Payment, and the Expense
       Reimbursement;

(iii) is higher and better in all material respects when viewed
       as a whole, and given the facts and circumstances of these
       Chapter 11 Cases, than the restructuring proposed in the
       Plan; and

  (iv) can be consummated no later than Feb. 27, 2015.

The $200 million in 10.5 percent senior unsecured notes due 2017
last traded on Oct. 31 for 4.798 cents on the dollar, Bill
Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported citing Trace, the bond-price reporting system of
the Financial Industry Regulatory Authority.

A full-text copy of the Second Amended Disclosure Statement dated
Oct. 31, 2014, is available at:

          http://bankrupt.com/misc/AUTOSEISds1103.pdf

All objections, including the objection raised by Tannor Capital
Advisors, to the Disclosure Statement that have not been otherwise
resolved are overruled.  BankruptcyData reported that Tannor,
which owns unsecured trade claims against the Debtors' estates in
the approximate amount of $1.5 million, complaining that there is
nothing in the Disclosure Statement advising it whether it is
helped or hurt by the deemed substantive consolidation.

            About Global Geophysical, Autoseis et al.

Global Geophysical Services Inc., a provider of seismic data for
the oil and gas drilling industry, sought bankruptcy protection,
intending to reorganize on its own with additional capital or
explore a sale or other transaction.

Based in Missouri City, Texas, Global Geophysical disclosed assets
of $468.7 million and liabilities totaling $407.3 million as of
Sept. 30, 2013.  Liabilities include $81.8 million on a secured
term loan owing to TPG Specialty Lending Inc. and Tennenbaum
Capital Partners LLC.  TPG is the lenders' agent.  Global also
owes $250 million on two issues of 10.5 percent senior unsecured
notes, with Bank of New York Mellon Trust Co. as indenture
trustee.

Global Geophysical and five affiliates, including Autoseis, Inc.
(lead debtor), filed Chapter 11 petitions in Corpus Christi, Texas
(Bankr. S.D. Tex. Lead Case No. 14-20130) on March 25, 2014.

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

The U.S. Trustee for Region 7, has selected seven creditors to the
Official Committee of Unsecured Creditors.  The Committee tapped
Greenberg Traurig, LLP as counsel; and Lazard Freres & Co. LLC and
Lazard Middle Market LLC, as financial advisors and investment
bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are
represented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs,
Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin
Gump Strauss Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson
& Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GREEN EARTH: Registers 65.1 Million Shares for Resale
-----------------------------------------------------
Green Earth Technologies, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-1 registration statement relating to
the sale, from time to time, by Francesco Galesi, WRG2, LLC, D&L
Partners, LP, et al., of up to 65,118,521 shares of the Company's
common stock, of which 54,682,051 shares are issuable upon
exercise of the conversion rights contained in the Company's 6.0%
Secured Convertible Debentures due March 31, 2016, in the
aggregate principal of $3,954,000 and 10,436,470 shares are
issuable upon exercise of warrants expiring between March 31,
2018, and Sept. 30, 2018.  The conversion price of Debentures in
the aggregate principal amount of $1,250,000 and $2,704,000 are
$0.13 and $0.06 per share of the Company's common stock,
respectively, and the exercise price of certain of the Warrants
for up to 3,676,470 and 6,760,000 shares of the Company's common
stock are $0.15 and $0.21 per share, respectively.

The Company will not receive any proceeds from the sale of these
shares by the Selling Stockholders.  However, the Company did
realize gross proceeds of $3,954,000 from the sale of the
Debentures and Warrants and the Company will realize gross
proceeds of $1,971,070 if all of the Warrants are exercised.

The Company's common stock is registered under Section 12(g) of
the Securities Exchange Act of 1934, as amended, and is quoted on
the QB tier of the OTC Markets Group under the symbol "GETG."

A copy of the Form S-1 is available for free at:

                        http://is.gd/lTldh4

                   About Green Earth Technologies

White Plains, N.Y.-based Green Earth Technologies, Inc. (OTC QB:
GETG) -- http://www.getg.com/-- markets, sells and distributes
bio-degradable performance and cleaning products.  The Company's
product line crosses multiple industries including the automotive
aftermarket, marine and outdoor power equipment markets.

Green Earth incurred a net loss of $6.84 million for the year
ended June 30, 2014, compared to a net loss of $6.59 million
for the year ended June 30, 2013.

The Company's balance sheet at June 30, 2014, showed
$16.64 million in total assets, $26.98 million in total
liabilities, and a $10.34 million total stockholders' deficit.

Friedman LLP, in East Hanover, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended June 30, 2014.  The independent auditors noted
that the Company's losses, negative cash flows from operations,
working capital deficit, related party note in default payable
upon demand and its ability to pay its outstanding liabilities
through fiscal 2014 raise substantial doubt about its ability to
continue as a going concern.


GT ADVANCED: Governmental Units Have Until April 6 to File Claims
-----------------------------------------------------------------
In the Chapter 11 cases of GT Advanced Technologies Inc., U.S.
Bankruptcy Judge Henry J. Boroff entred an order providing that:

   1. Apple Inc. and Platypus Development LLC (collectively, the
Apple Parties) will not be required to file any proof of claim
prior to the date that is 45 days after any termination of that
certain adequate protection and settlement agreement, dated Oct.
21, 2014, among the Apple Parties and GTAT.  In the event of a
termination of the settlement agreement, if the Apple Parties do
not file a proof of claim on account of any claims Apple may hold
that arose on or prior to the Petition Date so that it is actually
received on or before 5:00 p.m. on the Apple Bar Date, the Apple
Parties will not be permitted to vote to accept or reject any plan
filed in the chapter 11 cases, receive any distribution in the
cases on account of the claim, or receive further notices
regarding the claim.

   2. All governmental units have until April 6, 2015, at 5:00
p.m., to file proofs of claim against GT Advanced Technologies,
Inc. and GT Advanced Equipment Holding LLC.

Proofs of claim must be submitted to:

         GTAT Claims Processing Center
         C/O KURTZMAN CARSON CONSULTANTS LLC
         2335 Alaska Avenue
         El Segundo, CA 90245

                  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.


GT ADVANCED: To Unveal Secret Documents With Apple
--------------------------------------------------
Felix Balthasar at Newsmaine.net reports that the Bankruptcy Judge
Henry Boroff on Tuesday ordered Apple Inc. and GT Advanced
Technologies Inc. to put the secret documents that describe the
relationship between the two companies in public record by Nov. 7
at noon.

According to Newsmaine.net, Judge Boroff made some exceptions,
saying that a Master Development and Supply Agreement between
Apple and GT Advanced will not be unsealed, as these documents
contained "confidential commercial information."

Vikas Shukla at Valuewalk.com relates that GT Advanced, which was
valued at $3 billion in September 2014, almost vanished in
October.  GT Advanced's short interest dropped 36.4% -- from 61.16
million shares to 38.9 million shares -- between Sept. 30 and Oct.
15, according to Valuewalk.com.

                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.


GREEN BRICK: Completes Acquisition of JBGL for $275 Million
-----------------------------------------------------------
Green Brick Partners, Inc., formerly known as BioFuel Energy
Corp., has completed its previously announced acquisition of the
equity interests of JBGL Builder Finance, LLC, and certain
subsidiaries of JBGL Capital, LP, from certain affiliates of
Greenlight Capital, Inc., and James R. Brickman.  The purchase
price for the Acquisition was $275 million, which consisted of
approximately $191.8 million in cash with the remainder in
11,108,500 shares of Green Brick common stock valued at $7.49 per
share pursuant to the terms of the Acquisition.  After
consummation of the Acquisition, Greenlight owns approximately
49.9% of the Company's outstanding common stock and James R.
Brickman, along with certain family members and trusts affiliated
with Mr. Brickman, owns approximately 8.4% of the Company?s
outstanding common stock.

In connection with the closing of the Acquisition, the Company
consummated its previously announced rights offering which raised
gross proceeds of $70 million and entered into a $150 million loan
agreement with Greenlight.

In connection with the Acquisition, the Company changed its name
to Green Brick Partners, Inc., Green Brick's common stock will
start trading on The Nasdaq Capital Market under the symbol,
"GRBK," on Oct. 28, 2014.  Also in connection with the closing,
David Einhorn was appointed Chairman of the Board of Green Brick
and James R. Brickman was appointed chief executive officer.

"As a private company, we have developed a great lot position,
superior operators, aligned management, and achieved strong
financial results," stated Jim Brickman, chief executive officer.
"We expect to become even stronger as a public company because we
now have permanent capital, the ability to retain earnings tax
efficiently and access to capital for future growth.  In summary,
we believe that our prospects have never been better."

"We are very pleased to help transition BioFuel Energy, the former
ethanol producer, into Green Brick Partners, a successful
homebuilder," said David Einhorn, Chairman of the Board of
Directors.  "This deal is a win-win for everyone involved and
creates an exciting platform for Green Brick's future growth."

Additional information is available with the U.S. Securities and
Exchange Commission at http://is.gd/65yiiM

                         About Green Brick

Denver, Colo.-based BioFuel Energy Corp., now known as Green Brick
Partners, Inc., is an ethanol producer in the United States.

Biofuel Energy incurred a net loss of $45.65 million in 2013, a
net loss of $46.32 million in 2012 and a net loss of $10.36
million in 2011.

The Company's balance sheet at Sept. 30, 2014, the Company had
$8.83 million in total assets, $2.07 million in total liabilities,
all current, and $6.75 million in total equity.


GREEN BRICK: Third Point Reports 16.7% Equity Stake
---------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Third Point LLC disclosed that as of
Oct. 27, 2014, it beneficially owned 5,242,124 shares of common
stock of Green Brick Partners, Inc.  The Third Point Shares
represent approximately 16.7% of the Common Stock, based upon the
31,346,084 shares of Common Stock outstanding as of Oct. 31, 2014,
based on information provided by the Company.

As of Oct. 27, 2014, Daniel S. Loeb beneficially owns 5,342,067
shares of Common Stock, representing approximately 17.0% of the
Outstanding Shares; Third Point Partners beneficially owns
1,744,979 shares of Common Stock, representing approximately 5.6%
of the Outstanding Shares; and Third Point Partners Qualified
beneficially owns 1,105,845 shares of Common Stock, representing
approximately 3.5% of the Outstanding Shares.

A copy of the Schedule 13D/A is available for free at:

                         http://is.gd/rr203I

                         About Green Brick

Denver, Colo.-based BioFuel Energy Corp., now known as Green Brick
Partners, Inc., is an ethanol producer in the United States.

In October 2014, Biofuel Energy had completed the acquisition of
the equity interests of JBGL Builder Finance LLC and certain
subsidiaries of JBGL Capital, LP, from Greenlight Capital and
James Brickman.  In relation to the acquisition, the Company
changed its name to Green Brick Partners, Inc.

Biofuel Energy incurred a net loss of $45.65 million in 2013, a
net loss of $46.32 million in 2012 and a net loss of $10.36
million in 2011.

The Company's balance sheet at Sept. 30, 2014, the Company had
$8.83 million in total assets, $2.07 million in total liabilities,
all current, and $6.75 million in total equity


HAGOOD RESERVE: Cambridge Properties Starts Tearing Down Project
----------------------------------------------------------------
Will Boye at the Charlotte Business Journal reports that Cambridge
Properties and Copper Builders have started tearing down the
Hagood Reserve property at the corner of Carmel and Colony roads
in preparation of a new 34-unit townhome development called Easton
Park.

Business Journal relates that two half-finished units from the
Hagood Reserve project have been torn down.  Wade Miller, who
heads Copper Builders said that a large garage that was built for
Hagood Reserve will also be razed soon, the report adds.

According to Business Journal, Cambridge Properties and Copper
Builders won a rezoning in July for the property, where Tuscan
Development once planned the upscale condo and townhome
development.

Hagood Reserve, LLC, was organized in 2005 to acquire and develop
a wooded, 9.2-acre parcel in South Charlotte.  The project would
include 36 luxury exclusive condominiums and townhomes in three
separate buildings.  Hagood Reserve LLC filed for Chapter 11
bankruptcy (Bankr. W.D.N.C. Case No. 10-30725) on March 17, 2010,
interrupted a foreclosure proceeding by lender First Horizon
against the condominium project, the Debtor's sole asset.  Hagood
Reserve estimated assets and debts ranging from $1 million to
$10 million in its petition.

At the Petition Date, the parties were also disputing which side
breached that loan agreement in a state action entitled First
Horizon Home Loans, a division of First Tennessee Bank National
Association v. Hagood Reserve, LLC, et al., Case No. 09-CVS-15152,
General Court of Justice, Superior Court Division, Mecklenburg
County, North Carolina.


HAMPDEN COUNTY PHYSICIANS: Wants Ch 11 Case Converted to Ch 7
-------------------------------------------------------------
Anne-Gerard Flynn at Masslive.com reports that Hampden County
Physician Associates asked the Hon. Henry J. Boroff of the U.S.
Bankruptcy Court for the District of Massachussets on Oct. 28,
2014, to convert its Chapter 11 reorganization case to one under
Chapter 7 liquidation, which could leave some 50,000 patients
without access to their health care provider.

Masslive.com recalls that the Debtor, which is several million
dollars in debt, filed for Chapter 11 bankruptcy protection on
Oct. 2, 2014, but later filed a Chapter 7 motion, admitting that
it does not expect to be able to meet payroll expenses beyond the
end of October due to lower than anticipated revenues for that
month, the departure of five doctors to form their own allergy
practice, and "patients that can only pay for their services
through the MassHealth / Medicaid programs."

The Debtor said in its court filing that it believes that it has
no alternative other than to stop business operations upon the
close of business on Oct. 31.

According to Masslive.com, the Debtor also asked for an "emergency
consolidation of hearings" meeting, either Oct. 31 or Nov. 3, with
20 of its largest creditors, on related motions, that would allow
two unnamed hospitals to "take over in a complementary way,
substantially all of the Debtor's remaining business operation."
Masslive.com relates that the Sisters of Providence Health System
and Noble Hospital in Westfield have expressed interest in the
Debtor's assets.

Jim Kinney at Masslive.com reports that the Debtor has started
closing down.

Hampden County Physician Associates is a corporation that employs
some 68 health care providers, 270 employees and serves some
50,000 patients.



HDGM ADVISORY: Cayman Islands Funds Fret Over Less Cash
-------------------------------------------------------
Greg Andrews at Ibj.com reports that Cayman Islands funds said in
a filing in October that the HDG Mansur Investment Services, Inc.
companies in bankruptcy have only about $10,000 in cash on hand,
which is far less than the $220,000 Katz & Korin has so far billed
for legal fees but not been paid.

The Cayman Islands funds claimed in an August filing that HDG
Mansur and Harold Garrison have improperly drained millions of
dollars from insurance policies that might have gone toward paying
what they are owed.  According to Ibj.com, the Cayman Islands
funds are angling for payment of their $5.8 million judgment in
bankruptcy proceedings.

Cayman Islands funds said that they are "highly concerned that
continuation of these Chapter 11 cases will destroy any chance
they may have had for a meaningful recovery of their claims,"
Ibj.com reports.

                  About HDGM Advisory Services

HDGM Advisory Services, LLC, and HDG Mansur Investment Services,
Inc. sought Chapter 11 bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-04797 and 14-04798) in Indianapolis, Indiana, on May
21, 2014.  On May 28, 2014, the Hon. James M. Carr directed the
joint administration the cases of HDGM Advisory Services, LLC, and
HDG Mansur Investment Services, Inc., under the lead case -- HDGM
Advisory, Case No. 14-04797.

HDGH Advisory disclosed $20,257,001 in assets and $7,991, 590 in
liabilities as of the Chapter 11 filing.  HDG Mansur disclosed
$20,454,819 in assets and $12,377,542 in liabilities.  According
to a court filing, the Debtors don't have any secured creditors.

The cases are assigned to Judge James M. Carr.

The Debtors have tapped Michael W. Hile, Esq., Christine K.
Jacobson, Esq., and Henry Mestetsky, Esq., at Katz & Korin PC, as
counsel.

An affiliate of the Debtors, Hamilton Proper Partners Golf
Partnership, L.P., sought bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-00461) on Jan. 24, 2014.


HERFF JONES: Moody's Puts 'B2' CFR on Review for Downgrade
----------------------------------------------------------
Moody's Investors Service placed Herff Jones, Inc.'s ratings,
including its B2 corporate family rating, B3-PD probability of
default rating, and B2 ratings on senior secured term loan and
revolving credit facility under review for a possible downgrade.
The rating action follows the company's announcement that it has
entered into a definitive agreement to be acquired by Charlesbank
Capital Partners (private equity firm) and Partners Group (private
markets investment management firm).

The transaction includes the businesses of Herff Jones, Varsity
Spirit and BSN Sports, which generate approximately $1.2 billion
in combined annual revenues. Moody's expects the acquisition to be
financed with new debt. Senior management of the company will
retain current positions and invest in the company. The company
expects the acquisition to close in December 2014, subject to
customary closing conditions.

Rating Rationale

The review will focus on the likely capital structure following
the acquisition financing, and the financial policy and strategic
objectives of the company's new private equity owners.

The following ratings were placed under review for a possible
downgrade:

Issuer: Herff Jones, Inc

  B2 Corporate Family Rating;

  B3-PD Probability of Default Rating;

  B2 rating on $200 million Senior Secured Revolver due 2018;

  B2 rating on $525 million Senior Secured Term Loan due 2019.

Should all the existing debt be repaid with proceeds from the
transaction, the existing ratings will be withdrawn.

The principal methodology used in these ratings was Consumer
Durables Industry published in September 2014. Other methodologies
used include Loss Given Default for Speculative-Grade Non-
Financial Companies in the U.S., Canada and EMEA published in June
2009.

Herff Jones, Inc. is an employee-owned manufacturer and publisher
of recognition rewards, graduation-related items and cheerleading
products and services throughout the U.S. The company operates in
four complimentary segments with a K-12 and collegiate school
focus: cheerleading products and services (through its Varsity
brand acquired in 2011), sports apparel and equipment (acquired
with BSN in 2013), and the legacy Yearbook, and Scholastic (class
rings, caps & gowns and graduation papers) segments.


HOVNANIAN ENTERPRISES: Unit Selling $250 Million Senior Notes
-------------------------------------------------------------
Hovnanian Enterprises, Inc.'s wholly-owned subsidiary, K.
Hovnanian Enterprises, Inc., priced $250 million aggregate
principal amount of 8.000% Senior Notes due 2019 in a private
placement.  The Notes will be guaranteed by the Company and
substantially all of its subsidiaries.

K. Hovnanian intends to use the net proceeds from the Notes
Offering for general corporate purposes, including land
acquisition and land development.

The Notes have not been registered under the Securities Act of
1933, as amended.  The Notes may not be offered or sold within the
United States or to U.S. persons, except to "qualified
institutional buyers" in reliance on the exemption from
registration provided by Rule 144A and to certain persons in
offshore transactions in reliance on Regulation S.

                    About Hovnanian Enterprises

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

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

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

                           *     *     *

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

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

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


HRK HOLDINGS: Seeks to Extend Further Exclusivity Periods
---------------------------------------------------------
HRK Holdings and HRK Industries LLC filed a motion with the
Bankruptcy Court for a further extension of their exclusive plan
filing period through and including Dec. 21, 2014.

                        About HRK Holdings

HRK Holdings and HRK Industries LLC filed for Chapter 11
protection (Bankr. M.D. Fla. Case Nos. 12-09868 and 12-09869) on
June 27, 2012.  Judge K. Rodney May oversees the case.  Barbara A.
Hart, Esq., and Scott A. Stichter, Esq., at Stichter, Riedel,
Blain & Prosser, P.A., represents the Debtors.

HRK Holdings disclosed $33,366,529 in assets and $26,092,559 in
liabilities in its revised schedules.

According to the Debtors, the bankruptcy filing was necessitated
by the immediate need to sell a portion of the remaining property
to create liquidity for (a) funding the urgent management of the
site-related environmental concerns; the benefit of creditors;
funding a litigation filed by the Debtors; and funding of expenses
related to additional sales of the remaining property.

HRK Holdings is selling real property assets to Allied Universal
Corp. and Mayo Fertilizer, Inc.  The Court allowed HRK and the
purchasers to enter into any modifications to the agreements
without need of further Court approval, provided that no
amendments will occur without prior consent of Regions Bank.


INERGETICS INC: James Kras Appointed as Director
------------------------------------------------
Carl Germano resigned as a director and executive officer of
Inergetics, Inc., on Oct. 28, 2014, according to a regulatory
filing with the U.S. Securities and Exchange Commission.

On Oct. 30, 2014, the Company's Board of Directors appointed James
Kras a director of the Company to fill the vacancy resulting from
Mr. Germano's resignation.

                           $165,000 Note

Inergetics issued a convertible debenture in the principal amount
of $165,000 to Macallan Partners, LLC, pursuant to which it
borrowed $150,000.  The additional $15,000 represents original
issue discount.

Principal is due and payable under the Debenture on Oct. 30, 2015.
At the option of the Company, the principal may be prepaid before
the due date at a premium of 130%.

The Debenture provides that Macallan will not have the right to
convert any portion of the Debenture, to the extent that after
giving effect to that conversion, it would beneficially own in
excess of 4.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to such conversion.

                        About Inergetics Inc.

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

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

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

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


INTERCORP RETAIL: Fitch Affirms 'BB' Issuer Default Rating
----------------------------------------------------------
Fitch Ratings has affirmed these ratings of Intercorp Retail Inc.
as:

Intercorp Retail

   -- Foreign currency Issuer Default Rating (IDR) 'BB';
   -- Local currency IDR 'BB'.

Intercorp Retail Trust (IRT)

   -- Foreign currency IDR 'BB';
   -- USD300 million senior guaranteed notes due in 2018 'BB'.

The company recently issued debt through InRetail Consumer, one of
its fully-owned subsidiaries, and is in the process of buying back
the ITR's USD300 million senior guaranteed notes due in 2018.
After the full repayment of these notes, Fitch expects to withdraw
the ratings of Intercorp Retail, ITR and its USD300 million senior
guaranteed notes and will no longer follow the retail operations
of Intercorp Retail.

IRT, a fully owned subsidiary of Intercorp Retail, is a trust
formed under the laws of the Cayman Islands solely to issue the
guaranteed notes.  The Rating Outlook is Stable.  The ratings of
these companies are linked through Fitch's parent and subsidiaries
rating criteria.

Intercorp Retail's ratings reflect its diversified business model,
continued growing operations, and solid market position in Peru's
supermarket, pharmacy retail, and real estate segments.  Factors
that constrain the rating are the company's adjusted net leverage
and negative free cash flow trend due to significant capital
expenditures plan being developed.  The Stable Outlook for
Intercorp Retail incorporates the view that the company's credit
profile will remain stable during the next 12 month ended in June
2015.

KEY RATING DRIVERS

Fitch views Intercorp Retail's business position in the Peruvian
retail industry as solid driven by a sound business strategy of
developing and integrating several retail formats with its real
estate operations to meet growing needs of Peruvian consumers.
Intercorp Retail manages a leading multi-format retail operation
in Peru, which primarily include Supermercados Peruanos, Eckerd
Peru, the operator of the InkaFarma brand, and InRetail Real
Estate.  The company's business model of integrating retail
operations with its shopping center platform allows attracting
growing consumer traffic through its retail brands and locations,
and enhances the company's ability to develop commercial sites and
attract and develop adequate tenant mix.

The supermarket chain is the second largest in Peru, with an
estimated market share of 34% - based on revenues - as of June 30,
2014.  The pharmacy chain is the largest in Peru, with a 53%
market share in the formal segment.  InRetail Real Estate is the
leader in the Peruvian's shopping center industry with an expected
market share of approximately 26% over the country's total gross
leasable area (GLA) by the end of 2014.  In addition, Intercorp
Retail is also expanding retail operations in the department
store, consumer finance and home improvement businesses, which are
currently no material in terms of cash flow generation due to the
stage of development of these businesses.

The company margins are expected to remain stable.  Intercorp
Retail's achieved consolidated revenues and EBITDAR of S/. 6.8
billion and S/.635 million, respectively, during LTM June 30,
2014.  This resulted in the company's EBITDAR margins of 9.3%,
similar to those levels achieved during LTM ended in June 2013.
Intercorp Retail's consolidated financial net leverage ratio,
measured by the Total Adjusted Net Debt/ EBITDAR was 5.4x during
the LTM June 30, 2014.  The company's liquidity is viewed as
adequate considering its capacity to maintain satisfactory
coverage ratios and credit access.

RATING SENSITIVITIES

Negative Rating Actions: A rating downgrade could be triggered by
a decline in the Peruvian macroeconomic environment affecting
retail operations' cash flow generation, delays in the capex plan
execution, and/or incremental debt associated with acquisition
activity.

Positive Rating Actions: Intercorp Retail' ratings could be
positively affected by significant improvement in consolidated
margins, leverage and liquidity above the levels incorporated in
the ratings.


IPC INT'L: Suit v. Milwaukee Golf Transferred to N.D. Illinois
--------------------------------------------------------------
The U.S. District Court for the Northern District of Illinois will
hear the adversary proceeding IPC International Corporation filed
against Milwaukee Golf Shopping Center LLC and Milwaukee Golf
Management Corporation.

The lawsuit was originally filed in IPC's bankruptcy case pending
in Wilmington, Delaware bankruptcy court.  The defendants filed a
motion to transfer the venue of the lawsuit or, in the
alternative, for partial dismissal of the case.

Bankruptcy Judge Mary F. Walrath, who presides over the Chapter 11
case, granted the Venue Transfer request, and did not rule on the
dismissal request.

Prior to the Petition Date, the Debtor entered into a Continuing
Services Agreement with Milwaukee Golf Shopping Center LLC and
Milwaukee Golf Management Corporation, under which the Debtor
provided security services to the Defendants at the Golf Mill
Shopping Center in Illinois.  On April 25, 2014, the Debtor filed
a Complaint against the Defendants seeking to recover certain
accounts receivable from July to November of 2013, totaling
$160,091.63.  The Debtor asserts three causes of action: (1)
turnover of debt under section 542(b) of the Bankruptcy Code, (2)
breach of contract, and (3) unjust enrichment.

On June 6, 2014, the Defendants filed a motion to transfer venue
or for partial dismissal.  The Defendants ask that the suit be
transferred to the United States District Court for the Northern
District of Illinois. (Id.) Alternatively, they request that Count
III, unjust enrichment, be dismissed as to both parties, and/or
that all Counts be dismissed as to Defendant Milwaukee Golf
Management Corporation.

The case is, IPC INTERNATIONAL CORPORATION, Plaintiff, v.
MILWAUKEE GOLF SHOPPING CENTER LLC AND MILWAUKEE GOLF MANAGEMENT
CORPORATION, Defendants, Adv. Proc. No. 14-50333 (MFW)(Bankr. D.
Del.).  A copy of Judge Walrath's November 3, 2014 Memorandum
Opinion is available at http://bit.ly/1y0JIGkfrom Leagle.com.

                   About IPC International

Based in Bannockburn, Illinois, IPC International Corp., a
provider of security services for 350 shopping malls, filed a
petition for Chapter 11 protection (Bankr. D. Del. Case No.
13-12050) on Aug. 9, 2013, in Delaware after signing a contract
for Universal Protection Services LLC to buy the business, subject
to higher and better offers at an auction.  Bankruptcy was the
result of losses on a U.K. affiliate that was sold, as well as
competition and the cost of liability insurance.

Scott M. Strong signed the petition as chief financial officer.
The Debtor estimated assets and debts of at least $10 million.
Jeremy William Ryan, Esq., and Etta R. Mayers, Esq., at Potter
Anderson & Corroon, LLP, serves as local counsel.  Paul V.
Possinger, Esq., and Brandon W. Levitan, Esq., at Proskauer Rose,
LLP, serve as the Debtor's general bankruptcy counsel.  Silverman
Consulting, LLC, acts as the Debtor's financial advisor and
Livingstone Partners, LLP, serves as the Debtor's investment
banker.  KCC is the Debtor's noticing, claims and balloting agent.
Judge Mary F. Walrath presides over the case.

The Debtor disclosed $21,959,100 in assets and $31,056,575 in
liabilities as of the Chapter 11 filing.  Liabilities include $6.9
million on a revolving credit and $10.4 million on term loans
owing to PrivateBank & Trust Co., as agent.

PrivateBank also provided a $12 million loan to finance the
Chapter 11 case.  The DIP loan required quick sale.

A three-member panel has been appointed as the official unsecured
creditors committee in the case.  The panel consists of Weinberg,
Wheeler, Hudgins, Gunn & Dial, LLC; Mary Carmona-Rousse; and Drew
Eckl & Farnham, LLP.

In October 2013, IPC International won authorization to sell the
business for $25.4 million to Universal Protection Services.
Allied Security Holdings LLC, a competing bidder, forced Universal
to raise the offer at an auction early in October.  Universal
initially offered $21.3 million plus assumption of specified
liabilities.


IVANHOE RANCH: Nov. 13 Hearing on Settlement of Creditor Dispute
----------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on Nov. 13, 2014,
at 11:00 a.m., to consider:

   i) approval of a compromise and settlement of Ivanhoe Ranch
Partners LLC's dispute with creditor Essel Enterprises, LLC; and

  ii) conditional approval of the dismissal of the Chapter 11
case.

In the Oct. 8 application, the Debtor related that the core
dispute in the proceeding is the dispute among Essel, Ivanhoe and
creditor Henry Gamboa for payment of the outstanding principal and
interest on the loan of at least $8,365,000.  The dispute was the
trigger for the case, and also spawned the State Court Action,
which has been pending for more than three years.  While the
Debtor asserts that it would prevail following a trial, and Essel
makes the same claim, the dispute has been very expensive for all
parties.

On Oct. 1, all parties executed a final comprehensive settlement
agreement and mutual general release and set of joint escrow
instructions for the purpose of implementing the settlement.  A
summary of the settlement terms reflects that:

   1. Essel has agreed to substantially discount its claim and
accept payment of $5,000,000 in satisfaction provided it is paid
in accordance with an agreed upon schedule and the other
settlement terms are complied with by the Debtor and Gamboa.
While payments are made per a schedule ($500,000 has already been
paid), the final installment payment of $4,000,000 is due by
Dec. 31, 2014.

   2. Gamboa and the Debtor agree to pay Essel the settlement
payment, or if not paid, to transfer to Essel all of the Debtor's
right, title and interest in and to the Ivanhoe Ranch Property,
the Willow Glen Property, other real property and related personal
property.

   3. The parties will open an escrow and deposit, among other
documents, requests for reconveyance of the Deeds of Trust, the
promissory note, some of the original Loan Documents, grant deeds
and other transfer documents for the property.

   4. If the settlement payment is timely made and the Debtor and
Gamboa perform their other obligations, the reconveyances will be
recorded by the Escrow holder; if the Settlement Payment is not
made, the grant deeds will be recorded and the property
transferred.

   5. If Gamboa or the Debtor default in other pre-closing
obligations (other than making the last Settlement Payment
installment), Essel will retain other remedies, the loan will not
be satisfied and Gamboa will remain obligated on the Gamboa
Guaranty.

                About Ivanhoe Ranch Partners LLC

Based in El Cajon, California, Ivanhoe Ranch Partners LLC aka
Ivanhoe Development Corp. filed for Chapter 11 bankruptcy case
(Bankr. S.D. Cal. Case No. 13-09397) on Sept. 23, 2013.  Judge
Laura S. Taylor presides over the Debtor's bankruptcy case.
Kenneth C. Hoyt, Esq., at Hoyt Law Firm, represents the Debtor as
counsel.  The Debtor estimated assets between $10 million and $50
million and debts between $1 million and $10 million.

On April 1, 2014, the Court entered an order granting relief from
the automatic stay in favor of Essel Enterprises, LLC, the secured
lender, with respect to the Debtor's key asset, which consists of
a series of non-contiguous parcels of real property in rural east
county, San Diego.

Tiffany L. Carroll, the acting U.S. trustee, is seeking conversion
of the Debtor's Chapter 11 case to a liquidation in Chapter 7,
citing the Debtor's gross mismanagement and losses.


JACKSONVILLE BANCORP: Robert Goldstein Named New Director
---------------------------------------------------------
The Board of Directors of Jacksonville Bancorp, Inc., appointed
Robert B. Goldstein as a new director on Oct. 28, 2014, according
to a regulatory filing with the U.S. Securities and Exchange
Commission.

In connection with his appointment, the Board named Mr. Goldstein
to serve on the Board's Organization and Compensation Committee,
its Nominating and Corporate Governance Committee and its
Executive Committee.  Subject to regulatory approval, Mr.
Goldstein will also serve as a director of the Company's wholly
owned subsidiary, The Jacksonville Bank.

Also on Oct. 28, 2014, John W. Rose delivered notice of his
resignation as a director of the Company and the Bank, effective
upon receipt of regulatory approval for Mr. Goldstein's
directorship with the Bank.  Mr. Goldstein is a principal of
CapGen Financial Group and will replace Mr. Rose as one of the
director designees of CapGen Capital Group IV LP, the Company's
largest shareholder.  As an affiliate of CapGen, Mr. Goldstein may
be deemed to beneficially own shares owned by CapGen.

Mr. Goldstein is also a direct holder of shares of the Company's
common stock and nonvoting common stock, and a former debt holder
pursuant to revolving loan agreements entered into with the
Company in 2010 and 2011, which are further described in the
Company's periodic reports filed with the SEC.  In December 2012,
Mr. Goldstein purchased 500 shares of the Series A preferred stock
(which were later converted into 50,000 shares of nonvoting common
stock) in the Company?s private placement offering, in
consideration for his cancellation of $500,000 in outstanding debt
of the Company--the entire amount outstanding under the Revolvers.
After the December 2012 private placement, the Company did not
borrow again under the Revolvers, and in the second quarter of
2013, Mr. Goldstein's commitments under the Revolvers were reduced
to zero.  The largest amount of principal outstanding under the
Revolvers in 2012 was $500,000, and Mr. Goldstein earned $16,267
in interest in connection with the Revolvers in 2012.

As previously reported in the Company?s SEC filings, on Aug. 26,
2014, the Board appointed A. Hugh Greene as a new director.  At
the time of his appointment, Mr. Greene had not yet been named to
serve on any committees of the Board.  On Oct. 28, 2014, the Board
named Mr. Greene to serve on the Board's Audit Committee, its
Organization and Compensation Committee and its Nominating and
Corporate Governance Committee.

                      About Jacksonville Bancorp

Jacksonville Bancorp, Inc., a bank holding company, is the parent
of The Jacksonville Bank, a Florida state-chartered bank focusing
on the Northeast Florida market with eight full-service branches
in Jacksonville, Duval County, Florida, as well as the Company's
virtual branch.  The Jacksonville Bank opened for business on
May 28, 1999, and provides a variety of community banking services
to businesses and individuals in Jacksonville, Florida.

Jacksonville Bancorp reported a net loss available to common
shareholders of $32.42 million in 2013, a net loss available to
common shareholders of $43.04 million in 2012 and a net loss
available to common shareholders of $24.05 million in 2011.
As of June 30, 2014, the Company had $494.63 million in total
assets, $459.11 million in total liabilities and $35.52 million in
total shareholders' equity.


KEMET CORP: Reports $6.3 Million Net Income in Second Quarter
-------------------------------------------------------------
KEMET Corporation reported preliminary results for the Company's
second quarter ended Sept. 30, 2014.

KEMET reported net income of $6.33 million on $215.29 million of
net sales for the quarter ended Sept. 30, 2014, compared to a net
loss of $13.09 million on $208.44 million of net sales for the
same period during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $817.22
million in total assets, $602.38 million in total liabilities and
$214.83 million in total stockholders' equity.

"We are extremely pleased that the financial results for the
quarter exceeded our expectations.  Operating margins, influenced
by our cost improvement actions and favorable product mix,
improved 340 basis points compared to the prior quarter ended June
30, 2014, surpassing our forecast," stated Per Loof, KEMET's chief
executive officer.  "Operating margins will continue to be our
primary focus for the company.  Our expectation for our December
2014 quarter is an operating margin generally at or near the same
level as this quarter," continued Loof.

A copy of the press release is available for free at:

                        http://is.gd/fKL4ge

                            About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

                            *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to Caa1
from B2 and the Probability of Default Rating to Caa1-PD from B2-
PD based on Moody's expectation that KEMET's liquidity will be
pressured by maturing liabilities and negative free cash flow due
to the interest burden and continued operating losses at the Film
and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Simpsonville,
S.C.-based KEMET Corp. to 'B-' from 'B+'.

"The downgrade is based on continued top-line and margin pressures
and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that Standard & Poor's Ratings
Services revised its outlook on Greenville, S.C.-based capacitor
supplier KEMET Corp. to stable from negative.  S&P affirmed the
ratings, including the 'B-' corporate credit rating.


KEMET CORP: Files Third Quarter Form 10-Q
-----------------------------------------
KEMET Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q for the period ended
Sept. 30, 2014.

For the three months ended Sept. 30, 2014, the Company reported
net income of $6.33 million on $215.29 million of net sales
compared to a net loss of $13.09 million on $208.44 million of net
sales for the quarter ended Sept. 30, 2013.

The Company also reported net income of $2.79 million on $428.17
million of net sales for the six months ended Sept. 30, 2014,
compared to a net loss of $48.23 million on $410.50 million of net
sales for the same period last year.

The Company's balance sheet at Sept. 30, 2014, showed $817.22
million in total assets, $602.38 million in total liabilities and
$214.83 million in total stockholders' equity.

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

                        http://is.gd/GRcKwR

                             About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

                            *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to Caa1
from B2 and the Probability of Default Rating to Caa1-PD from B2-
PD based on Moody's expectation that KEMET's liquidity will be
pressured by maturing liabilities and negative free cash flow due
to the interest burden and continued operating losses at the Film
and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Simpsonville,
S.C.-based KEMET Corp. to 'B-' from 'B+'.

"The downgrade is based on continued top-line and margin pressures
and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that Standard & Poor's Ratings
Services revised its outlook on Greenville, S.C.-based capacitor
supplier KEMET Corp. to stable from negative.  S&P affirmed the
ratings, including the 'B-' corporate credit rating.


LAKELAND INDUSTRIES: Completes $11.1 Million Private Placement
--------------------------------------------------------------
Lakeland Industries, Inc., announced the closing of its private
placement of common stock.

Pursuant to the terms of the private placement, Lakeland sold an
aggregate of 1,110,000 shares of common stock at a price of $10.00
per share.  Proceeds from the financing were used to fully repay
Lakeland's 12% subordinated term loan with LKL Investments, LLC,
in the approximate amount of $3.6 million.  The balance of the
proceeds will be used for working capital and general corporate
purposes, including supporting the increased demand for Lakeland's
safety products due to the EBOLA crisis.  Pending such usage,
Lakeland intends to temporarily pay down a portion of its senior
revolving credit facility with AloStar Bank of Commerce.

Craig-Hallum Capital Group LLC acted as exclusive placement agent
in connection with this offering.

The shares of common stock sold in the private placement have not
been registered under the Securities Act of 1933, as amended, or
state securities laws and may not be offered or sold in the United
States absent effective registration with the Securities and
Exchange Commission (SEC) or an applicable exemption from such
registration requirements.  Lakeland is required to file a
registration statement with the SEC registering the resale of the
shares of common stock.

Meanwhile, on Oct. 29, 2014, that certain Loan and Security
Agreement, dated as of June 28, 2013, and the related agreements
between Company and Junior Lender terminated upon the receipt by
Junior Lender of a payoff amount of approximately $3.6 million
from the Company.

                     About Lakeland Industries

Ronkonkoma, N.Y.-based Lakeland Industries, Inc., manufactures and
sells a comprehensive line of safety garments and accessories for
the industrial protective clothing market.

The Company reported a net loss of $26.3 million on $95.1 million
of net sales for the year ended Jan. 31, 2013, as compared with a
net loss of $376,825 on $96.3 million of sales for the year ended
Jan. 31, 2012.

The Company's balance sheet at July 31, 2014, showed
$87.9 million in total assets, $40.9 million in total liabilities
and $46.9 million in total stockholders' equity.

In their report on the consolidated financial statements for the
year ended Jan. 31, 2013, Warren Averett, LLC, in Birmingham,
Alabama, expressed substantial doubt about Lakeland Industries'
ability to continue as a going concern.  The independent auditors
noted that Company is in default on certain covenants of its loan
agreements at Jan. 31, 2013.


LEHMAN BROTHERS: Bankr. Court Disallows Former Employees' Claims
----------------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York issued a memorandum decision on
Nov. 3, 2014, sustaining Lehman Brothers Holdings Inc.'s
objections to claims filed by more than 200 of its former
employees, after concluding that the former employees have failed
to meet the burden imposed upon them to prove that their claims
should be allowed as filed.

The former employees, as a component of their compensation,
received either restricted stock units ("RSU") or contingent stock
awards.  These awards gave employees a contingent right to own
Lehman common stock, which would be issued five years after the
grant of the applicable award upon the fulfillment of certain
employment-related conditions.  The employee-claimants filed their
proofs of claim so they would be allowed in a cash amount
equivalent to the amount of respective stock awards.  Lehman
submitted that the claims, all of which arise from the voluntary
exchange of labor for the right to receive stock, should be
classified as equity under its confirmed Modified Third Amended
Joint Chapter 11 Plan.

Judge Chapman stated: "The RSU Claimants have failed to identify
any characteristics that distinguish the RSU Claims from the
employee claims at issue in Enron... (i) the RSUs are securities;
(ii) that the RSU Claimants purchased when they willingly engaged
in the exchange of their labor for the RSUs; and (iii) the damages
that the RSU Claimants seek arise from such purchase.  As such,
the RSU Claims must be subordinated under section 510(b) of the
Bankruptcy Code.  In the alternative, the RSUs at issue fall
within the definition of "equity security" under section 101(16)
of the Bankruptcy Code, and, accordingly, the RSU Claimants do not
assert a "claim" under section 101(5) of the Bankruptcy Code."

A full-text copy of Judge Chapman's Decision is available at
http://is.gd/CE6aIHfrom Leagle.com.

                    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 Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  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.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

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.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch 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 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.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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.


LEHMAN BROTHERS: Trustee Mulls Wind-Down of Bankruptcy Estate
-------------------------------------------------------------
Lehman Brothers Securities N.V. on Nov. 6 disclosed that
Michiel Gorsira (the "LBS Trustee"), in his capacity as bankruptcy
trustee (curator), is considering winding down the LBS estate and
making a final distribution to creditors in the first quarter of
2015.  The wind down process, which will require approval from the
supervisory judge overseeing LBS's bankruptcy proceedings, would
be expected to include a combination of an in kind distribution of
at least 85% of LBS's intercompany claims against Lehman Brothers
Holdings Inc. and Lehman Brothers International Europe, and the
sale for cash of the remaining portion of those claims and any
remaining assets with a corresponding distribution of the proceeds
to creditors.  The LBS Trustee intends to solicit proposals from
certain market participants to help facilitate the wind down.  No
assurances can be made that such a wind down will in fact occur in
the first quarter of 2015 or at any particular time thereafter, or
of the assets that may be distributed in kind in the wind down, or
of the amount of cash proceeds that may be received by creditors
in the wind down.

                      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 Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  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.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

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.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch 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 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.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012 and a second payment of $10.2 billion on Oct. 1.  A
third distribution is set for around March 30, 2013.  The
brokerage is yet to make a first distribution to non-customers.

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.


LEVEL 3: S&P Raises Corp. Credit Rating to 'BB-'; Outlook Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Broomfield, Colo.-based Level 3 Communications
(Level 3) to 'BB-' from 'B+' and removed the rating from
CreditWatch, where S&P had placed it with positive implications on
June 16, 2014.  The outlook is stable.

At the same time, S&P raised the issue-level rating on Level 3's
unsecured debt to 'B' from 'B-' and removed it from CreditWatch,
where S&P had placed it with positive implications on June 16,
2014.  In addition, S&P affirmed the 'B' issue rating on the
unsecured debt issued by Level 3's subsidiary, Level 3 Escrow II
Inc., which was issued to partly fund the TW Telecom acquisition.
The recovery ratings on all unsecured debt remain '6' indicating
S&P's expectation for "negligible" (0% to 10%) recovery for
unsecured debtholders in the event of default.  Total reported
debt, pro forma for the acquisition, is approximately $11 billion.

"The rating upgrade reflects our view that the TW Telecom
acquisition modestly improves Level 3's business risk profile
without having a material impact on financial metrics," said
Standard & Poor's credit analyst Richard Siderman.

"We have revised our assessment of business risk to "fair" from
"weak" since the TW Telecom assets will deepen Level 3's reach
into metropolitan markets and enable Level 3 to carry more traffic
on-network.  The TW Telecom acquisition will also boost the
portion of Level 3 revenues that are generated by enterprise core
network services (CNS) customers.  We view enterprise CNS as Level
3's most defensible and stable segment and one that is less
susceptible to price compression compared to Level's wholesale CNS
services and its commodity-like wholesale voice segment," S&P
noted.

The stable outlook reflects the increasing portion of revenue from
enterprise CNS services that favorably affects Level 3's revenue
and EBITDA visibility.  The stable outlook also incorporates S&P's
expectation that growth in CNS revenue from Level 3 legacy
operations and from the acquired TW Telecom assets will more than
offset continuing erosion in the wholesale voice segment resulting
in low-single-digit revenue growth in 2015.  S&P expects debt to
EBITDA in the low- to mid-4x area and FFO to debt in the mid-teens
percentage area in 2015, which includes a full year of TW Telecom
operations.  Both of these metrics are consistent with
"aggressive" financial risk and, along with "adequate" liquidity,
support the rating.

S&P do not anticipate material improvement in credit quality over
the next year since S&P expects 2015 to be a period of integration
for the TW Telecom acquisition.  Further, realization of material
network and other operating synergies from TW Telecom will take
some time to be realized and S&P do not anticipate material
synergies from the TW Telecom acquisition, net of integration
expenses, during 2015.

S&P could lower the rating if already intense competition
heightens; in particular, if the company experiences sustained
greater-than-anticipated price compression for CNS services.
Under such a scenario, S&P could lower the rating if sustained
pricing pressure depresses the adjusted EBITDA margin toward 30%
and results in leverage increasing to the 5x area.  Another path
to a downgrade could come from unexpected, material missteps in
integrating the TW Telecom assets.


LINCOLN PARK: S&P Affirms 'BB' Rating on 2010 GOLT Bonds
--------------------------------------------------------
Standard & Poor's Ratings Services removed its underlying rating
(SPUR) on Lincoln Park, Mich.'s series 2010 general obligation
(GO) limited-tax bonds from CreditWatch, where it was placed with
negative implications on Aug. 5, 2014, and affirmed the rating at
'BB'.  The outlook has been revised to stable.

The rating was previously placed on CreditWatch negative,
reflecting S&P's view of a large and growing structural imbalance
because of a larger-than-previously anticipated general fund
deficit for fiscal 2014 and additional budgeted deficits in fiscal
2015.

"The CreditWatch action reflects our view of an emergency
financial and operating plan that the appointed emergency manager
has submitted to the state to regain structural balance by 2016
and improve the city's overall long-term financial condition,"
said Standard & Poor's credit analyst Oladunni Ososami.  "We
believe that the plan is sufficient to maintain the rating."


LONESTAR GENERATION: S&P Affirms 'BB-' Rating on Upsized Term Loan
------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' rating and
'1' recovery to Lonestar Generation LLC's $515 million senior
secured term loan B, which would increase to $675 million with a
successful amendment, and $50 million senior secured revolving
credit facility.  The '1' recovery indicates high (90% to 100%)
recovery under a default scenario.

On a successful amendment, the portfolio will consist of three
combined-cycle gas turbine facilities (Bastrop, Frontera, and
Paris) totaling 1,295 MW in the north and south regions of the
Electric Reliability Council of Texas (ERCOT) market, the 310 MW
Twin oaks coal plant, and the adjacent Walnut Creek mine.  Through
Feb. 2017, the gas-fired facilities will sell 100% of their
capacity under heat rate call option agreements to Energy America
LLC, a division of Direct Energy, and will be supported by a
parent guarantee from Centrica.  Twin Oaks will sell its output
into the ERCOT market on a merchant basis.  With the amended term
loan B, and the inclusion of the two assets, Lonestar Generation
will have about $290 million of equity in the project.

The outlook is stable.  Relatively small portfolios of this type
typically have a rating no higher than 'BB'.  Despite additional
volatility added to the portfolio from merchant coal fired gross
margins, the majority of the gross margins during the initial
three-year period still accrue from the toll.

"We expect relatively stable performance, and that the project
will be able to meet its projected financial measures," said
Standard & Poor's credit analyst Aneesh Prabhu.

An upgrade, which S&P will not consider until 2017, could occur if
operational performance through the forecast period enables
deleveraging of the portfolio by 20%, and there is visibility into
merchant pricing that will likely to support DSCR levels of about
3x to 3.2x

Conversely, a downgrade could occur if operational issues emerge
that result in DSCRs declining to 1.6x.  In the fully merchant
period, S&P could lower ratings if DSCR levels are below 2x,
and/or debt pay-down lags, and S&P expects refinancing leverage
levels to be above $250 per kilowatt.


LUKEN COMMUNICATIONS: Ends Equity Comms Fight, To Exit Ch. 11
-------------------------------------------------------------
Dave Flessner, writing for Timesfreepress.com, reports that Luken
Communications LLC is emerging from Chapter 11 bankruptcy after
settling in October a lawsuit filed by a bankruptcy trustee over
claims that the company had underpaid for the TV programs and
assets held by Equity Communications.

Henry Luken started Luken Communications in 2008 when he acquired
the assets of bankrupt Equity Communications in Little Rock for
$18.5 million.  Timesfreepress.com recalls that Luken
Communications filed for bankruptcy in 2013 after a jury sided
with the bankruptcy trustee and ordered Luken Communications to
pay $65.9 million on costs and damages, a verdict that the company
appealed.  The two parties later agreed on a $2 million settlement
instead, the report says.

Timesfreepress.com relates that outstanding claims have been paid
and that Luken Communications attorneys have filed final motions
to exit the bankruptcy reorganization.

                      About Luken Communications

Luken Communications, LLC, filed a bare-bones Chapter 11 petition
(Bankr. E.D. Tenn. Case No. 13-13069) on June 23, 2013, in
Chattanooga, Tennessee.  The Debtor estimated at least $10 million
in assets and liabilities.  Henry G. Luken, III, as managing
member, signed the petition.  Judge John C. Cook presides over the
case.

Luken Communications sought Chapter 11 bankruptcy protection after
founder Henry Luken was slapped with a $47.4 million civil verdict
Friday in a lawsuit involving another bankrupt company,
Equity Media Holdings Corp.  Mr. Luken was the former chairman and
CEO of Equity Media.

Equity Media Holdings Corp., which operated 121 television
stations including 23 full power, 38 Class A and 60 low power
stations, filed for Chapter 11 protection on Dec. 8, 2008 (Bankr.
E. D. Ark. Case No. 08-17646).  In June 2010, Bankruptcy Judge
James G. Mixon approved Equity Media's motion to convert its
Chapter 11 case to a chapter 7 liquidation.  M. Randy Rice was
named Chapter 7 bankruptcy trustee.

In its schedules, Luken Communications disclosed $6,020,105 in
total assets and $83,312,128 in total liabilities.


MAMMOTH RESOURCE: Judge to Decide Fate of Company's Bankruptcy
--------------------------------------------------------------
The Associated Press reported that U.S. Bankruptcy Judge Joan
Lloyd in Louisville, Kentucky, is set to decide whether to close
out the case of Mammoth Resource Partners after the company's
trustee, Robert Leasure, filed documents saying there is no
workable plan to bring the company out of bankruptcy as a still
functioning business.

Cave City, Kentucky-based Mammoth Resource Partners, Inc., filed
for Chapter 11 bankruptcy (Bankr. W.D. Ky. Case No. 10-11377) on
Sept. 8, 2010.  Judge Joan A. Lloyd presides over the case.  David
M. Cantor, Esq., at Seiller Waterman LLC, serves as the Debtor's
counsel.  In its petition, the Debtor estimated $1 million to
$10 million in assets and $100,001 to $500,000 in debts.  A list
of the Company's 20 largest unsecured creditors filed together
with the petition is available for free at
http://bankrupt.com/misc/kywb10-11377.pdf
The petition was signed by Roger L. Cory, CEO.


MARION ENERGY: Secured Lender Objects to DIP Financing Request
--------------------------------------------------------------
TCS II Funding Solutions, LLC, and Castlelake, L.P., object to the
Marion Energy Inc.'s request for authority to obtain debtor-in-
possession financing by KM Custodians Pty Ltd., insofar as the
Debtor proposes to grant KM a "priming" lien on the Debtor's
assets, ahead of TCS II's liens on those assets.

TCS II, which holds a senior secured loan to Marion totaling in
excess of $34 million, argues that the Chapter 11 case "does not
propose a true reorganization for the benefit of unsecured
creditors, but simply a delay of a specifically-negotiated sale
process proposed by the Marion Parties in an effort to enhance
Marion Energy Limited's and KM's recovery from the sale of
Marion's interests in the Clear Creek Field.  There was no need
for Marion to commence the case or to propose a priming DIP
financing."

If, notwithstanding the Motion's various critical defects, the
Court were to approve the DIP Motion and grant KM a priming lien,
TCS II asserts that the Court should strictly limit the amount of
the DIP Financing used by the Debtor prior to the final hearing on
the Motion.  TCS II further asserts that if the DIP Financing is
allowed to prime TCS II, the Debtor's use of funds that prime TCS
II should be limited to those costs and expenses that are
essential to the operation of the Debtor's business.

TCS II is represented by:

         Mark E. Hindley, Esq.
         Bria L. Mertens, Esq.
         David B. Levant, Esq.
         STOEL RIVES LLP
         Suite 1100, One Utah Center
         201 South Main Street
         Salt Lake City, UT 84111
         Tel: (801) 328-3131
         Fax: (801) 578-6999
         E-mail: mark.hindley@stoel.com
                 bria.mertens@stoel.com
                 david.levant@stoel.com

                       About Marion Energy

Marion Energy Inc. is a Texas corporation engaged in exploration
and production of natural gas in the State of Utah.  Marion's core
operation is a producing gas field located in Carbon and Emery
Counties, Utah (the "Clear Creek Field").  The company also holds
smaller, currently unproductive acreage positions in the Helper
and Roan Cliffs area near Helper, Utah (the "Helper Field").

Its parent is Australia-based Marion Energy Limited (ASX:MAE).
Marion Energy Limited -- http://www.marionenergy.com.au/--is
principally engaged in investment in oil and gas projects and the
identification and assessment of new opportunities in the oil and
gas industry in Texas, Utah and Oklahoma in the United States of
America.

Marion Energy Inc. sought Chapter 11 bankruptcy protection (Bankr.
D. Utah Case No. 14-31632) in Salt Lake City, Utah on Oct. 31,
2014.  The Debtor estimated assets and debt of $100 million to
$500 million.  The Debtor has tapped Parsons Behle & Latimer as
attorneys.


MAVERICK INT'L: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Maverick Int'l, Inc.
        142 S Cardigan Way Suite B
        Mooresville, NC 28117

Case No.: 14-50805

Chapter 11 Petition Date: November 5, 2014

Court: United States Bankruptcy Court
       Western District of North Carolina (Statesville)

Judge: Hon. Laura T. Beyer

Debtor's Counsel: James H. Henderson, Esq.
                  JAMES H. HENDERSON, P.C.
                  1201 Harding Place
                  Charlotte, NC 28204-2248
                  Tel: 704.333.3444
                  Fax: 704.333.5003
                  Email: henderson@title11.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Phillip Winfield, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncwb14-50805.pdf


MEDSOLUTIONS HOLDINGS: Moody's Affirms B2 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed MedSolutions Holdings, Inc.'s
B2 Corporate Family Rating (CFR), B2-PD Probability of Default
Rating (PDR), and B2 rating on the company's existing senior
secured first lien credit facilities. The rating outlook is
stable. This action follows the company's definitive agreement to
be acquired by CareCore National, LLC and financial sponsor
General Atlantic LLC. In connection with the acquisition,
MedSolutions' shareholders will take equity in CareCore and have a
minority ownership with CareCore shareholders retaining majority
ownership. The transaction is subject to customary regulatory
approvals and is expected to close during the fourth quarter of
2014.

Given the change of control language embedded in MedSolutions'
credit agreement, Moody's expect all of MedSolutions' existing
debt to be repaid upon close (consisting of a $300 million senior
secured term loan due 2019 and $75 million senior secured revolver
due 2018). Under such a scenario, Moody's would subsequently
withdraw MedSolutions' CFR, PDR, and instrument ratings. For more
information, please refer to Moody's rating withdrawal policy on
moodys.com.

MedSolutions Holdings, Inc.:

Ratings affirmed:

  B2 Corporate Family Rating

  B2-PD Probability of Default Rating

  Senior secured first lien credit facilities, at B2 (LGD 3)

The rating outlook is stable.

Ratings Rationale

Excluding the pending acquisition by CareCore, MedSolutions'
current B2 Corporate Family Rating reflects the company's very
high revenue concentration among its top customers and products,
considerable financial leverage, and aggressive shareholder-
friendly financial policies. The rating also reflect MedSolutions'
material exposure to near-term contract expirations, although
Moody's notes that the contract with the company's top customer
has recently been extended through the end of 2019. The ratings
are supported by the company's strong market position, solid
customer relationships, strong client retention rates, lack of
direct reimbursement risk, and favorable fundamentals and macro
trends within the specialty benefit management market.

The stable rating reflects Moody's expectation that the company
will exhibit improved financial leverage and cash flow to debt
metrics over the next 12 to 18 months. The stable outlook also
reflects Moody's assumption that the company will successfully
renew its contracts with its largest customers without a
significant negative pricing impact, and that the company will not
engage in additional debt-financed shareholder initiatives.

An upgrade is not expected over the near-term due to the company's
aggressive financial policy and high customer and product
concentration. However, the ratings could be upgraded over time if
the company achieves good customer diversity via new contact wins
or expansion of services with existing customers. In addition,
adjusted debt to EBITDA would need to be sustained below 3.0 times
on a Moody's adjusted basis.

The ratings could be downgraded if there is a material contraction
in the level of operating cash flow, such that free cash flow
turns negative, or if the company's liquidity deteriorates. In
addition, Moody's could downgrade the ratings if the company is
unable to successfully renew any of its contracts with key
customers. From a financial metrics perspective, the ratings could
be downgraded if adjusted debt to EBITDA is sustained above 4.5
times on a Moody's adjusted basis

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

Headquartered in Franklin, Tennessee, MedSolutions Holdings, Inc.,
through its subsidiary MedSolutions, Inc. ("MedSolutions") is a
leading specialty benefit management company. MedSolutions
provides medical cost management services through proprietary
programs aimed at reducing costs and improving quality of care in
diagnostic imaging, musculoskeletal, post-acute, and other areas
of healthcare. Clients consist primarily of health benefit plan
sponsors including health maintenance organizations, health
insurers, state government agencies, and other managed care
organizations. The company is privately owned by TA Associates,
MedCare, Ridgemont Equity Partners, management, employees, and
other investors. For the twelve months ended September 30, 2014,
the company generated revenues of approximately $903 million.


MICHAEL DILWORTH: Hudson Americas Loses Bid to Lift Stay
--------------------------------------------------------
District Judge J.P. Stadtmueller declined Hudson Americas LLC's
invitation to reverse the decision by Bankruptcy Judge Pamela
Pepper denying Hudson's request for relief from the automatic stay
in the Chapter 11 case of Michael Dilworth.

Judge Pepper heard that motion on February 18, 2014, and rendered
a decision denying the motion a day later.

Mr. Dilworth is (or was) the controlling member of various limited
liability companies.  Those LLCs entered into various transactions
with Hudson to finance the acquisition of residential real estate
properties. Mr. Dilworth also personally guaranteed the
obligations assumed by the LLCs in those transactions.

At one point, the total loan obligations related to Mr. Dilworth's
properties approached $100,000,000, but through payments and
negotiations approximately one-fifth of that amount remained in
June 2013.  Negotiations fell through on Mr. Dilworth's attempt to
obtain a long-term renewal on that remaining amount, and he could
not otherwise refinance or sell the properties.

Shortly after coordinating the transfer of the equity-less
properties to himself, Mr. Dilworth filed for Chapter 11
bankruptcy protection. He filed disclosure statements as part of
his bankruptcy case; his disclosures make clear that Hudson has
claims against him of more than $20,000,000.  He proposed to pay
the secured portion of that debt (approximately $16,500,000) at a
rate of 4.5% over 25 years, with other terms. As to the remainder,
he proposed to pay a pro-rata share of $25,000.  Meanwhile, Mr.
Dilworth continued to draw a salary of $5,000 from Ener-Con
Companies, Inc., which manages the properties held by Mr.
Dilworth's LLCs.  That $5,000 monthly salary, though, does not
start to cover Mr. Dilworth's stated monthly expenses of
approximately $30,000, comprised of a mortgage of, among other
things, approximately $18,500 per month; monthly recreation
expenses of $2,750 per month; and monthly lawn maintenance/snow
plowing fees of $1,650.

Mr. Dilworth anticipates making up that shortfall by drawing on
non-exempt investment assets.

According to Judge Stadtmueller, "The Court is unable to conclude
that Judge Pepper's decision was in error. Perhaps Mr. Dilworth's
plan will ultimately prove unconfirmable, but that is a decision
for Judge Pepper to make at the confirmation hearing. Her decision
not to lift the stay turned on other standards, none of which the
Court finds were in error. Therefore, the Court must affirm Judge
Pepper's decision."

The case is, WELLS FARGO BANK NA, acting by and through Hudson
Americas, LLC, its attorney-in-fact, Appellant, v. MICHAEL H.
DILWORTH, Appellee, Case No. 14-CV-375-JPS (E.D. Wis.).  A copy of
the District Court's Oct. 15 Order is available at
http://bit.ly/10pWAujfrom Leagle.com.


MILK SPECIALTIES: Moody's Lowers Corporate Family Rating to Caa1
----------------------------------------------------------------
Moody's Investors Service downgraded Milk Specialties Company's
Corporate Family Rating (CFR) to Caa1 from B3 and the company's
Probability of Default Rating (PDR) to Caa2-PD from Caa1-PD. At
the same time, Moody's downgraded the company's senior secured
credit facilities, which include a $250 million principle senior
secured term loan and a $35 million revolving credit facility, to
Caa1 from B3. The rating outlook has also been changed to negative
from stable.

The downgrade is primarily driven by the company's weak liquidity
profile, which has recently been impacted by a breach in covenants
due to the inability to file financial statement by deadlines
prescribed under terms of its credit facilities, a substantial
decline in operating profits, as well as Moody's belief that
leverage will remain high for the foreseeable future. The negative
outlook reflects the uncertainty surrounding the company's ability
to comply with covenants by filing financial statement in a timely
manner, and the restoration of liquidity to levels appropriate for
operations in a highly cyclical industry.

The following ratings have been downgraded:

  Corporate Family Rating (CFR) to Caa1 from B3;

  Probability of Default Rating (PDR) to Caa2-PD from Caa1-PD;

  $35 million senior secured revolving credit facility due 2017
  to Caa1 (LGD3) from B3 (LGD3);

  $250 million senior secured first lien term loan due 2018 to
  Caa1 (LGD3) from B3 (LGD3).

The outlook is changed to negative

Ratings Rationale

The downgrade of the CFR to Caa1 primarily reflects recent
weakening in Milk Specialties' liquidity profile, which was
materially impacted by problems stemming from irregularities that
the company had discovered in inventory accounting at one of its
plants. This has caused the company to breach a covenant
prescribed under terms of its credit facilities that require the
company to submit audited financials to lenders within 120 days of
the completion of the company's fiscal year end (June 28, 2014).
As a result, the company does not have the ability to make
incremental draws on its revolving credit facility pending
resolution of a technical default of its covenants. The company is
currently seeking a waiver of this covenant until early 2015.
Failure to file audited financial covenants by then, or subsequent
breach of financial covenants would likely place additional
downward pressure on the ratings.

Ratings are also constrained by high leverage and recent
deterioration in profitability. Although Milk Specialties top-line
has continued to grow at a healthy pace driven by solid end-user
demand for the company's products, margins remain challenged
because of relatively high input costs (primarily WPC34). Moody's
notes that input costs have eased since the beginning of calendar
2014 raising prospects for a modest improvement trend in margins.
Nonetheless, leverage as measured by Moody's adjusted debt-to-
EBITDA based on preliminary financial results remains high at
approximately 5.6 times at October 25, 2014, up from 4.1 times at
fiscal year end June 2013.

Milk Specialties' rating also considers the company's narrow
product focus within the niche human and animal nutrition
segments, small though improving scale, and cash flow that is
expected to improve over time after having been constrained by
large capital investments that Moody's understand are largely
behind the company.

The rating benefits from the company's leadership position as an
independent processor of whey protein in the US, good customer
diversification and a growing network of independent whey stream
suppliers. During the last few years, the company has benefited
from growing demand for whey in the sports nutrition and health
and wellness markets and its commitment to expanding its
manufacturing footprint and capacity, two trends Moody's expect to
continue over the next 12 to 18 months.

The negative outlook reflects risks surrounding the timing and
consequences of any resolution to the breach in covenants and the
delay in delivery of audited financial reports. In particular,
Moody's is concerned that the resolution of the accounting issue
may result in an adverse restatement of the company's earnings, as
recent profitability may have been overstated as a result of
improper treatment of inventory. This may have further liquidity
implications with respect to compliance with financial maintenance
covenants, including interest coverage and financial leverage,
following resolution of the accounting situation.

The ratings could be downgraded if liquidity deteriorates further
and cash becomes more limited. In addition, prolonged negative
free cash flow generation or leverage that climbs above 6.5 times
could result in a negative rating action. A downgrade would also
occur if the company is unable to obtain a waiver and defaults on
its credit agreement.

The ratings are unlikely to be upgraded in the near term. However,
the ratings outlook could be stabilized if Milk Specialties is
able to finalize its FY14 audited financial statements and resolve
the associated covenant compliance and accounting issues. Over the
long term, the ratings could be upgraded if the company
strengthens its internal controls and improves operating
performance such that leverage averages below 5.5 times through
the cycle. In addition, the company would need to maintain an
adequate liquidity profile, highlighted by ample access to its
revolver and the ability to generate positive free cash flow on an
annual basis.

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

Milk Specialties Company (Milk Specialties) is a leading
independent manufacturer of whey and specialty dairy protein
ingredients for the sports nutrition, health and wellness, food
manufacturing and animal nutrition end markets. Milk Specialties
was acquired by Kainos Capital (formerly HM Capital Partners LLC)
in December 2011. Based on preliminary unaudited financial data,
revenues for the twelve months ending October 25, 2014 were
approximately $763 million.


MINT LEASING: Plans to Buy 100% of MotorMax for $30 Million
-----------------------------------------------------------
The Mint Leasing, Inc., entered into a First Amendment to and
Assignment of Letter of Intent, pursuant to which Investment
Capital Fund Group, LLC, a wholly-owned subsidiary of Sunset
Brands, Inc., assigned all of its rights to Mint Leasing under a
letter of intent between Sunset and the shareholders of Motors
Acceptance Corporation, MotorMax Financial Services Corporation
and MotorMax Auto Group, Inc., as disclosed with the U.S.
Securities and Exchange Commission.

Pursuant to the Letter of Intent, as amended by the Assignment,
Mint Leasing agreed to pay a total of $30 million to the owners of
MotorMax in consideration for 100% of MotorMax, of which $25
million (subject to net capital adjustments at closing) is payable
in cash and $5 million is payable in stock; the Company agreed to
provide proof of ability to raise the $25 million in cash by
Dec. 15, 2014; and agreed to close the transactions contemplated
by the Letter of Intent, including the Company's entry into a
formal Securities Purchase Agreement with the owners of MotorMax,
prior to Jan. 15, 2015 (provided that MotorMax is required to
maintain exclusivity with the Company through that date).  The
cash consideration payable in connection with the acquisition will
be used to repay certain obligations of MotorMax other than
certain credit facilities which will be assumed by the Company.

The closing of the transactions contemplated by the Letter of
Intent are subject to among other things, the Company and the
owners of MotorMax negotiating a mutually acceptable Securities
Purchase Agreement, the Company's due diligence, the Company
raising adequate funding to complete the transaction, which may
not be available on favorable terms, if at all, and the approval
of the acquisition by the Company's senior lender.

Sunset, which assigned the Company its rights under the Letter of
Intent, was previously the owner of Investment Capital Fund Group,
LLC Series 20, a Delaware limited liability company, organized as
a Delaware Series Business Unit, which held various gem assets
which we acquired pursuant to a Share Exchange Agreement in
consideration for 62,678,872 shares of the Company's restricted
common stock on Sept. 23, 2014.

MotorMax is a direct subprime automotive finance company located
in Columbus, Georgia, with a 40 year history in consumer finance.
MotorMax is currently originating approximately 1,200-1,500
automotive retail contracts per month.  MotorMax consists of (1) a
finance company (Motors Acceptance Corporation) which underwrites,
finances and services all of the directly originated loans; (2)
retail operations (MotorMax Auto Group, Inc.), which has sales
operations in Georgia and Alabama where it operates nine
dealerships; and (3) a consumer finance company (MotorMax
Financial Services Corporation) licensed in Georgia, Alabama,
South Carolina and Missouri.

          KBM Worldwide, Inc. Convertible Note Amendment

On July 9, 2014, the Company sold KBM Worldwide, Inc., a
Convertible Promissory Note in the principal amount of $158,500,
pursuant to a Securities Purchase Agreement, dated the same day.
The Convertible Note bears interest at the rate of 8% per annum
(22% upon an event of default) and is due and payable on April 15,
2015.  All or any portion of the principal amount of the
Convertible Note and all accrued interest is convertible at the
option of the holder thereof into the Company's common stock at
any time following the 180th day after the Convertible Note was
issued.  The conversion price of the Convertible Note is equal to
the greater of (a) $0.00005 per share, and (b) 61% multiplied by
the average of the three lowest trading prices of the Company's
common stock on the ten trading days before any conversion
(representing a discount of 39%).  The conversion price is also
subject to dilutive protection as provided in the Convertible
Note.

At no time may the Convertible Note be converted into shares of
common stock of the Company if that conversion would result in the
Investor and its affiliates owning an aggregate of in excess of
4.99% of the then outstanding shares of the Company?s shares of
common stock.

The Company may prepay in full the unpaid principal and interest
on the Convertible Note, upon notice any time prior to the 180th
day after the issuance date.  Any prepayment is subject to payment
of a prepayment amount ranging from 110% to 135% of the then
outstanding balance on the Convertible Note (inclusive of accrued
and unpaid interest and any default amounts then owing), depending
on when such prepayment is made.

The Convertible Note also provided for anti-dilution rights in the
event the Company issued or sold, except for certain limited
exceptions, shares of the Company's common stock.  Pursuant to an
amendment to the Convertible Note entered into on Oct. 27, 2014,
the provisions of the note relating to anti-dilution for future
issuances was removed from the Convertible Note.

The Company plans to repay the loan prior to any conversion.

                         About Mint Leasing

Houston, Texas-based The Mint Leasing, Inc., is in the business of
leasing automobiles and fleet vehicles throughout the United
States.

Mint Leasing reported net income of $3.22 million on $6.45 million
of total revenues for the year ended Dec. 31, 2013, as compared
with a net loss of $238,969 on $9.97 million of total revenues in
2012.

As of June 30, 2014, the Company had $17.86 million in total
assets, $16.58 million in total liabilities and $1.28 million in
total stockholders' equity.

                         Bankruptcy Warning

"We do not currently have any commitments of additional capital
from third parties or from our sole officer and director or
majority shareholders.  We can provide no assurance that
additional financing will be available on favorable terms, if at
all.  If we choose to raise additional capital through the sale of
debt or equity securities, such sales may cause substantial
dilution to our existing shareholders and/or trigger the anti-
dilution protection of the Warrants.  If we are not able to obtain
additional funding to repay the Amended Loan and our other
outstanding notes payable and debt facilities, we may be forced to
abandon or curtail our business plan, which may cause any
investment in the Company to become worthless.  Our independent
auditor has expressed substantial doubt regarding our ability to
continue as a going concern.  If we are unable to continue as a
going concern, we may be forced to file for bankruptcy protection,
may be forced to cease our filings with the Securities and
Exchange Commission, and the value of our securities may decline
in value or become worthless," the Company said in the 2013 Annual
Report.


MISSION NEW ENERGY: Had A$809,000 in Cash at September 30
---------------------------------------------------------
Mission New Energy Limited filed with the U.S. Securities and
Exchange Commission its quarterly report for the quarter ended
Sept. 30, 2014.

The Company reported receipts from customers of A$599,000 during
the quarter.

At the beginning of the quarter, the Company had A$458,000 in
cash.  The Company reported an increase in cash of A$311,000 plus
A$40,000 in exchange rate adjustments.  As a result, the Company
had A$809,000 in cash at Sept. 30, 2014.

The Company spent A$107,000 for wages during the quarter.

A copy of the Quarterly Report is available for free at:

                         http://is.gd/Q1rX9K

                       About Mission NewEnergy

Based in Subiaco, Western Australia, Mission NewEnergy Limited is
a producer of biodiesel that integrates sustainable biodiesel
feedstock cultivation, biodiesel production and wholesale
biodiesel distribution focused on the government mandated markets
of the United States and Europe.

The Company is not operating its biodiesel refining segment.  The
refineries are being held in care and maintenance either awaiting
a return to positive operating conditions or the sale of assets.

The Company has materially diminished its Jatropha contract
farming operation and the company is now focused on divesting the
remaining Indian assets.  The Company intends to cease all Indian
operations.

Mission NewEnergy reported a net loss of $1.09 million on $9.68
million of total revenue for the year ended June 30, 2014,
compared to net income of $10.05 million on $8.41 million of total
revenue during the prior year.

The Company's balance sheet at June 30, 2014, showed $4.04 million
in total assets, $15.40 million in total liabilities and a $11.35
million total deficiency.

BDO Audit (WA) Pty Ltd, in Perth, Western Australia, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company incurred operating cash outflows
of $3.7 million during the year ended 30 June 2013 and, as of that
date the consolidated entity's total liability exceeded its total
assets by $12.5 million.  These conditions, along with other
matters, raise substantial doubt the Company's ability to continue
as a going concern.


MISSION NEW ENERGY: Had A$809,000 in Cash at September 30
---------------------------------------------------------
Mission New Energy Limited filed with the U.S. Securities and
Exchange Commission its quarterly report for the quarter ended
Sept. 30, 2014.

The Company reported receipts from customers of A$599,000 during
the quarter.

At the beginning of the quarter, the Company had A$458,000 in
cash.  The Company reported an increase in cash of A$311,000 plus
A$40,000 in exchange rate adjustments.  As a result, the Company
had A$809,000 in cash at Sept. 30, 2014.

The Company spent A$107,000 for wages during the quarter.

A copy of the Quarterly Report is available for free at:

                         http://is.gd/Q1rX9K

                       About Mission NewEnergy

Based in Subiaco, Western Australia, Mission NewEnergy Limited is
a producer of biodiesel that integrates sustainable biodiesel
feedstock cultivation, biodiesel production and wholesale
biodiesel distribution focused on the government mandated markets
of the United States and Europe.

The Company is not operating its biodiesel refining segment.  The
refineries are being held in care and maintenance either awaiting
a return to positive operating conditions or the sale of assets.

The Company has materially diminished its Jatropha contract
farming operation and the company is now focused on divesting the
remaining Indian assets.  The Company intends to cease all Indian
operations.

Mission NewEnergy reported a net loss of $1.09 million on $9.68
million of total revenue for the year ended June 30, 2014,
compared to net income of $10.05 million on $8.41 million of total
revenue during the prior year.

The Company's balance sheet at June 30, 2014, showed $4.04 million
in total assets, $15.40 million in total liabilities and a $11.35
million total deficiency.

BDO Audit (WA) Pty Ltd, in Perth, Western Australia, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company incurred operating cash outflows
of $3.7 million during the year ended 30 June 2013 and, as of that
date the consolidated entity's total liability exceeded its total
assets by $12.5 million.  These conditions, along with other
matters, raise substantial doubt the Company's ability to continue
as a going concern.


MISSISSIPPI PHOSPHATES: Has Interim $5MM DIP Financing Approval
---------------------------------------------------------------
Judge Katharine M. Samson of the U.S. Bankruptcy Court for the
Southern District of Mississippi, Southern Division, gave
Mississippi Phosphates Corporation, et al., interim authority to
obtain up to $5,000,000 of postpetition financing from STUW LLC as
agent for a consortium of lenders.  The Debtors are also given
interim authority to use cash collateral securing their
prepetition indebtedness.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the DIP Loan agreement requires the Debtors to
file papers with the court starting the process of selling the
business.  An auction must be held by early February, the
Bloomberg report said, citing court papers.  A single customer,
Interoceanic Corp., is under contract to purchase 89 percent of
the company's production, Bloomberg said.

The Court will conduct a final hearing commencing on Nov. 18,
2014, at 9:30 a.m.  Any objections to the final approval of the
financing request must be submitted on or before Nov. 10.

                             About MPC

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
as a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC has a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc.,
and Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11
bankruptcy protection (Bankr. S.D. Miss. Lead Case No. 14-51667)
on Oct. 27, 2014.  Judge Katharine M. Samson is assigned to the
cases.

Mississippi Phosphates estimated $100 million to $500 million in
both assets and liabilities.  Affiliates Ammonia Tank and Sulfuric
Acid Tanks each estimated $1 million to $10 million in both assets
and liabilities.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler
Snow LLP as counsel.


MISSISSIPPI PHOSPHATES: Amends Largest Unsecured Creditors List
---------------------------------------------------------------
Mississippi Phosphates Corporation and its debtor affiliates filed
with the U.S. Bankruptcy Court for the Southern District of
Mississippi an amended list disclosing the following as the
creditors holding 20 largest unsecured claims:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
OCP Office Cherifien Des                               $4,830,253
Ocpangle Route D'el Jadida
De La Grand Ceiinture
Casablanca, Morocco

Transammonia, Inc.                                     $1,967,000
320 Park Ave
10th Floor
New York, NY 10022

Oxbow Sulphur Inc.                                     $1,741,326
1450 Lake Robbins Dr.
Ste 500
The Woodlands, TX 77380

Premier Chemicals                                      $1,455,651
4664 James Ave
Ste 125
Baton Rouge, LA 70808

Shrieve Chemical                                       $1,167,705
P. O. Box 671515
Dallas, TX 75267-1667

Central Maintenance & Weld                             $1,126,778
2620 Keysville Road
Lithia, FL 33547

MS Power Company                                       $1,060,528
P. O. Box 4275
Gulfport, MS 39502-4275

Hydrovac Industrial Ser.                                 $975,105
P. O. Box 83006
Chicago, IL 60691-3010

Int'l Welding & Fabrication                              $886,166
11401 Hwy 63
Moss Point, MS 39562

Unimin Lime                                              $877,322
P. O. Box 181
Calera, AL 35040

Envir. Acid Solutions                                    $666,920
24838 NC Hwy 33 East
Aurora, NC 27806

Duponte Sulfur Prod.                                     $629,045
586 Hwy 44
La Place, LA 70068

Carrier Rental Systems                                   $492,440
6282 Hwy 73
Geismar, LA 70734

Jackson Cty Port Auth.                                   $423,721
P. O. Box 70
Pascagoula, MS 39568-0070

BP Energy Co.                                            $378,150
209 Public Square
Cleveland, OH 44114-2375

Plant Maintenance Ser.                                   $352,135
37110 Hwy 30
Geismar, LA 70734

RPW, Inc.                                                $284,301
P. O. Box 2151
Pascagoula, MS 39569

Brock Services LTD                                       $239,968
P. O. Box 8406
Dallas, TX 75284-0640

VIP International                                        $236,406
6638 Pecue Lane
Baton Rouge, LA 70817-4400

Flexicrew                                                $229,594
3517 Laughlin Drive
Mobile, AL 36693

                             About MPC

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
as a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC has a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc.,
and Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11
bankruptcy protection (Bankr. S.D. Miss. Lead Case No. 14-51667)
on Oct. 27, 2014.  Judge Katharine M. Samson is assigned to the
cases.

Mississippi Phosphates estimated $100 million to $500 million in
both assets and liabilities.  Affiliates Ammonia Tank and Sulfuric
Acid Tanks each estimated $1 million to $10 million in both assets
and liabilities.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler
Snow LLP as counsel.


MISSISSIPPI PHOSPHATES: Seeks to Employ BMC as Claims Agent
-----------------------------------------------------------
Mississippi Phosphates Corporation, et al., seek authority from
the U.S. Bankruptcy Court for the Southern District of Mississippi
to employ BMC Group, Inc., as noticing and claims agent pursuant
to 28 U.S.C. Section 156(c) and Sections 105(c) and Section 363 of
the Bankruptcy Code.

BMC will perform various noticing, claims management, plan
solicitation, balloting, disbursement, and other services.  In
performing those services, BMC may, for example: (a) prepare and
serve required notices and documents in the Chapter 11 case; (b)
maintain an official copy of the Debtors' schedules of assets and
liabilities and statements of financial affairs; (c) maintain a
list of all potential creditors, equity holders and other parties-
in-interest, and a "core" mailing list; (d) furnish a notice to
all potential creditors of the last date for filing of proofs of
claim; and (e) maintain a post office box or address for the
purpose of receiving claims and returned mail, and process all
mail received.

Upon the entry of an order authorizing the employment of BMC, the
Debtors will provide BMC with a $5,000 evergreen retainer to
remain outstanding at all times.

Brad Daniel, a director for BMC Group, Inc., assures the Court
that his firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

                             About MPC

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
as a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC has a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc.,
and Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11
bankruptcy protection (Bankr. S.D. Miss. Lead Case No. 14-51667)
on Oct. 27, 2014.  Judge Katharine M. Samson is assigned to the
cases.

Mississippi Phosphates estimated $100 million to $500 million in
both assets and liabilities.  Affiliates Ammonia Tank and Sulfuric
Acid Tanks each estimated $1 million to $10 million in both assets
and liabilities.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler
Snow LLP as counsel.


MISSISSIPPI PHOSPHATES: Has Interim OK to Pay Insurance Premiums
----------------------------------------------------------------
Judge Katharine M. Samson of the U.S. Bankruptcy Court for the
Southern District of Mississippi gave Mississippi Phosphates
Corporation, et al., interim authority to pay postpetition
installments on insurance policies necessary to maintain insurance
coverage.

                             About MPC

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
as a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC has a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc.,
and Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11
bankruptcy protection (Bankr. S.D. Miss. Lead Case No. 14-51667)
on Oct. 27, 2014.  Judge Katharine M. Samson is assigned to the
cases.

Mississippi Phosphates estimated $100 million to $500 million in
both assets and liabilities.  Affiliates Ammonia Tank and Sulfuric
Acid Tanks each estimated $1 million to $10 million in both assets
and liabilities.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler
Snow LLP as counsel.


MOMENTIVE SPECIALTY: Four Directors Resigned
--------------------------------------------
Scott M. Kleinman, Geoffrey A. Manna, David B. Sambur and Robert
V. Seminara resigned as members of the Board of Directors of
Momentive Specialty Chemicals Inc. on Oct. 27, 2014, according to
a regulatory filing with the U.S. Securities and Exchange
Commission.

Robert Kalsow-Ramos and Geoffrey A. Manna were appointed as
managers of Momentive Performance Materials Holdings LLC, the
indirect parent of the Company.  As a result, Holdings' Board of
Managers, which has been entrusted with the supervision of the
Company's management and the course of the Company's affairs and
business operations, consists of the following members: William H.
Carter, William H. Joyce, Robert Kalsow-Ramos, Scott M. Kleinman,
Geoffrey A. Manna, Craig O. Morrison, Jonathan Rich, David B.
Sambur and Marvin O. Schlanger.

                     About Momentive Specialty

Momentive Specialty Chemicals, Inc., headquartered in Columbus,
Ohio, is a leading producer of thermoset resins (epoxy,
formaldehyde and acrylic).  The company is also a supplier of
specialty resins for inks and specialty coatings sold to a diverse
customer base as well as a producer of commodities such as
formaldehyde, bisphenol A, epichlorohydrin, versatic acid and
related derivatives.

Momentive Specialty reported a net loss of $634 million on $4.89
billion of net sales for the year ended Dec. 31, 2013, as compared
with net income of $346 million on $4.75 billion of net sales for
the year ended Dec. 31, 2012.  As of March 31, 2014, the Company
had $2.95 billion in total assets, $5.05 billion in total
liabilities and a $2.10 billion total deficit.

                           *     *     *

The TCR reported on Oct. 3, 2014, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Momentive
Specialty Chemicals Inc. (MSC) by one notch to 'CCC+' from 'B-'.
"The downgrade follows MSC's significant use of cash in the first
half of 2014 and our expectation that lackluster cash flow from
operations and elevated capital spending will cause free operating
cash flow to be significantly negative in 2014 and 2015," said
Standard & Poor's credit analyst Cynthia Werneth.

As reported by the TCR on May 5, 2014, Moody's Investors Service
affirmed Momentive Specialty Chemicals Inc's (MSC) corporate
family rating (CFR) at B3 but changed the ratings outlook to
negative due to weak credit metrics and the expectation that
credit metrics will not return to levels fully supportive of the
B3 Corporate Family Rating in 2014.


MUD KING: Mazelle Krasoff Seeks to Withdraw as Counsel
------------------------------------------------------
Mud King Products, Inc. filed a notice with the Bankruptcy Court
to inform that Mazelle Krasoff requested to withdraw as counsel of
record in the bankruptcy case of the Debtor.

Edward Rothberg and Melissa Haselden, at the offices of Hoover
Slovacek LLP, will remain as counsel of record for the Debtor.

Ms. Krasoff further requests that the Clerk of Court remove her
from the Court's notice service lists for the action, as well as
from CM/ECF electronic mailings including, without limitation,
orders and notices of any applications, motion, petition,
pleading, request, complaint, or demand, whether formal or
informal, whether written or oral and whether transmitted or
conveyed by mail, delivery, telephone, telex, or otherwise which
affect or seek to affect in anyway the matters in this case.

                       About Mud King Products

Mud King Products, Inc., filed a Chapter 11 petition (Bank. S.D.
Tex. Case No. 13-32101) on April 5, 2013.  The petition was signed
by Erich Mundinger as vice president.  The Debtor disclosed
$18,959,158 in assets and $3,351,216 in liabilities as of the
Chapter 11 filing.  Annie E Catmull, Esq., Melissa Anne Haselden,
Esq., and Edward L Rothberg, Esq., at Hoover Slovacek, LLP,
represent the Debtor in its restructuring effort.  Judge Karen K.
Brown presides over the case.

The U.S. Trustee was unable to appoint an official committee of
unsecured creditor.


MUSCLEPHARM CORP: Revises Previously Filed Financial Reports
------------------------------------------------------------
MusclePharm Corporation disclosed with the U.S. Securities and
Exchange Commission that its previously issued unaudited quarterly
financial statements as of and for the fiscal quarter ended
June 30, 2014, should no longer be relied upon.  As a result, the
Company filed an amended quarterly report for the period ended
June 30, 2014, restating its financial statements for this period.

The following discussion describes the adjustments made in the
Amendment:

"Note 16 Insurance Recovery" in the June 30, 2014, 10-Q will be
deleted.  As a result, the Consolidated Balance Sheets amount
"Other receivable" $1,342,843, will be adjusted to $0, and the
respective amounts of "Other assets", "Total assets" and "Total
stockholders' equity" will be adjusted by reducing those amounts
by $1,342,843; Professional Fees in the Consolidated Statements of
Operations for the three and six months ended June 30, 2014, will
be increased to $1,292,517 and $2,077,090, respectively, with
appropriate adjustment to "Total operating expenses", "Operating
Income (loss)" and "Net Income (loss) before taxes" and "Net
Income", "Total Comprehensive Income (loss)" and respective "Net
income (loss) per share" amounts reported.

Due to the restatement, the Company's management and Audit
Committee reevaluated Part I, Item 4 ("Controls and Procedures")
in the previously filed June 30, 2014, Form 10-Q and have now
concluded that the Company's disclosure controls and procedures
and internal control over financial reporting were not effective
as of that date.  The Board has been actively engaged in
developing a remediation plan to address the identified
ineffective controls that existed as of June 30, 2014.

Implementation of the remediation plan is in process and consists
of, among other things, redesigning the procedures to enhance the
identification, capture, review, approval and recording of
contract terms including insurance agreements and the treatment
and confirmation of insurance recoveries.  The Company's
Disclosure Committee has appointed, subject to the approval of the
Board of Directors of the Company, the Company's Executive Vice
President of Finance, as the Chairman of the Company's Disclosure
Committee and its Risk Management Officer to ensure compliance
with the remediation plan.  In his capacity as RMO, John Price
will be responsible for managing the Company's risk assessment as
it relates to financial reporting obligations, SEC disclosures as
well as implementing, managing, and assuring compliance with the
remediation plan.

Meanwhile, following requests for information received by the
Company from the Denver Regional Office of the SEC, the Company
undertook to review its disclosures related to compensation,
benefits and perquisites in several of its prior Annual Reports on
Form 10-K.  The Company has provided information to the Staff in
response to its inquiries.  In the process of reviewing its
records and preparing those submissions, the Company has
determined to revise its previously filed compensation disclosure
for the fiscal years ended Dec. 31, 2010, 2011, 2012 and 2013.
The Company determined that it improperly excluded certain items
that should have been reported in the Summary Compensation Tables
under Item 402(b) of Regulation S-K in the Company's Annual
Reports for the Fiscal Years ended Dec. 31, 2010 - 2013.

The 10-K Amendments have been reviewed by the Audit Committee of
the Board of Directors.  As previously reported, the Company
appointed a new Chairman of the Audit Committee.  In addition to
the review of the Company's previous disclosures related to
compensation, benefits and perquisites, the Chairman of the Audit
Committee authorized a review by the Company of all available
information related to business expenses and perquisites paid on
behalf of the Company's executives and non-employee directors for
Fiscal Years 2010 - 2013 and for the current Fiscal Year.  In
addition to reviewing and approving the Company's revised
disclosure in the Summary Compensation Tables for Fiscal Years
2010 - 2013, to be reflected in the 10-K Amendments, the Audit
Committee has recommended the adoption of enhanced policies and
procedures for the tracking, accounting, and disclosing of the
Company's business expenses, perquisites and other personal
benefits paid to or on behalf of executive officers and non-
employee directors of the Company.

The Corrective Action Plan will include, among other items, the
adoption of the following general statements of policy related to
the payment and disclosure of perquisites by the Company:

   * The Company subscribes to the principles adopted by the SEC
     in its November 7, 2006 Release (Release 33-8732A) and
     subsequent interpretations regarding disclosure of
     Perquisites and Other Personal Benefits;
   * The Company will seek outside guidance from independent third
     parties (counsel and financial/reporting experts) in
     connection with review and disclosure of perquisites and
     other personal benefits provided to the executive officers
     and non-employee directors of the Company;

   * The Company has updated its contact information to direct
     whistleblower communications to outside counsel and the
     chairman of the Audit Committee as initial points of contact;
     and
   * The Company requires all waivers of privilege determinations
     to be made by the Audit Committee in connection with current
     Staff inquiries.

These current and former executive officers of the Company have
agreed to repay or to have deducted from their next paycheck,
certain amounts that were considered during the review to be
predominantly personal in nature, or for certain undocumented or
unsupported expenses during the periods reviewed which were
previously characterized as business expenses and charged to the
Company for Fiscal Years 2010 - 2013.  Any such repayments do not
necessarily reflect, and the Board of Directors has not made any
determination as to the existence of, any incorrect actions on the
part of the named executive officers.  The repayments are being
made voluntarily by the executives.

    * Bradley J. Pyatt:    $62,082
    * Richard Estalella:   $893
    * Donald W. Prosser:   $234
    * Cory J. Gregory:     $9,798
    * Gary Davis:          $516
    * Jeremy DeLuca:       $10,476

The Board of Directors, in the exercise of its business judgment,
will determine what, if any, steps the Company will take to
collect from the former named executive officers of the Company
named below the amounts set forth opposite their names.  Any
repayments do not necessarily reflect, and the Board of Directors
has not made any determination as to the existence of, any
incorrect actions on the part of the former executive officers.

   * John Bluher:    $4,000
   * Lawrence Meer:  $1,111

A copy of the amended Form 10-K for the year ended Dec. 31, 2012,
is available for free at http://is.gd/XWqyW4

A copy of the amended Form 10-K for the year ended Dec. 31, 2013,
is available for free at http://is.gd/OyycsP

A copy of the amended Form 10-Q for the period ended June 30,
2014, is available for free at http://is.gd/kqrve6

                          About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm reported a net loss after taxes of $17.71 million in
2013, a net loss after taxes of $18.95 million in 2012, and a net
loss of $23.28 million in 2011.  As of June 30, 2014, MusclePharm
had $65.59 million in total assets, $28.83 million in total
liabilities and $36.75 million in total stockholders' equity.


NAARTJIE CUSTOM: Hilco Retained to Sell Naartjie Kids Brand
-----------------------------------------------------------
Hilco Streambank has been retained to sell the NaartjieR Kids
brand and the Company's interests in its South African subsidiary.
The assets include the worldwide trademark portfolio, the
NaartjieKids.com e-commerce platform, customer files and domain
names.  The assets also include the Company's interests in its
wholly owned South African subsidiary ZA One.  The assets will be
sold through a chapter 11 bankruptcy sale process.  The bid
deadline has been set for Nov. 21, 2014.

"Naartjie presents a unique opportunity to acquire the assets of
an internationally recognized children's apparel brand with
differentiated content and a loyal customer base," said David
Peress, EVP of Hilco Streambank.  "We're already generating a
significant level of interest in these assets" said Mr. Peress.

                   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 (Bankr. D. Utah Case No. 14-29666) on Sept. 12,
2014.  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: Bankrupt Vitamin Maker Gets Nod for Nov. 10 Auction
---------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Brendan L. Shannon in
Wilmington, Delaware, approved the procedures that allow potential
suitors to either acquire Natrol Inc.'s assets or refinance its
debt, and scheduled an auction for Nov. 10.

According to the report, bids are due Nov. 6 and the hearing to
approve a sale or refinancing transaction will be held on Nov. 12.

As previously reported by the TCR, 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.  Under the settlement,
the sale must be completed by Dec. 15.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, noted that Natrol has no buyer or replacement lender under
contract yet.

                        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.


NEPHROS INC: Amends 5 Million Shares Prospectus
-----------------------------------------------
Nephros, Inc., filed with the U.S. Securities and Exchange
Commission an amended Form S-1 registration statement relating to
the distribution, at no charge, to holders of the Company's common
stock or warrants non-transferable subscription rights to purchase
up to 5,000,000 shares of the Company's common stock.

The Company amended the Registration Statement to delay its
effective date.

Shares of the Company's common stock are quoted on the OTCQB
Marketplace operated by the OTC Markets Group, Inc., or OTCQB,
under the ticker symbol "NEPH."  On [   ], 2014, the closing sales
price for the Company's common stock was $[   ] per share.  The
shares of common stock issued in the rights offering will also be
quoted on the OTCQB under the same ticker symbol.  The
subscription rights will not be listed for trading on any stock
exchange or market or quoted on the OTCQB.

This is not an underwritten offering.  The shares are being
offered directly by the Company without the services of an
underwriter or selling agent.

A copy of the Form S-1/A prospectus is available at:

                        http://is.gd/kSJNgx

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.

Nephros, Inc., reported a net loss of $3.69 million in 2013
following a net loss of $3.26 million in 2012.

As of June 30, 2014, the Company had $2.35 million in total
assets, $2.13 million in total liabilities and $216,000 in total
stockholders' equity.

Rothstein Kass, in Roseland, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that the
Company has incurred negative cash flow from operations and net
losses since inception.  These conditions, among others, raise
substantial doubt about its ability to continue as a going
concern.


NET TALK.COM: Seeks to Annul President's Action
-----------------------------------------------
Net Talk.com, Inc., disclosed with the U.S. Securities and
Exchange Commission that it is working with its counsel to rescind
an unauthorized encumbrance by Samer Bishay, current president of
the Company.

Mr. Bishay, on or about Oct. 24, 2014, through counsel for
Telestrata, LLC, filed a mortgage in the amount of approximately
$4.5 million encumbering certain assets of the Company.  The
Company asserted Mr. Bishay was not authorized to file said
mortgage, as the Board of Directors authorized the company to
undertake such action only under certain conditions, and
authorized only Steven Healy, as chief financial officer of the
Company, to be signatory to any such action.

As reported by the TCR on Oct. 20, 2014, shareholders representing
at least a majority of the then outstanding common stock of the
Company voted, via written consent in lieu of a meeting, to remove
each of Samer Bishay, Maged Bishara, and Nardir Aljasrawi from
their positions serving as members of the Company's Board of
Directors.

                        About Net Talk.com

Based in Miami, Fla., Net Talk.com, Inc., is a telephone company,
that provides, sells and supplies commercial and residential
telecommunication services, including services utilizing voice
over internet protocol technology, session initiation protocol
technology, wireless fidelity technology, wireless maximum
technology, marine satellite services technology and other similar
type technologies.

Net Talk.com a net loss of $4.78 million on $6.02 million of net
revenues for the year ended Dec. 31, 2013, as compared with a net
loss of $14.71 million on $5.79 million of net revenues in 2012.

As of June 30, 2014, the Company had $5.07 million in total
assets, $12.42 million in total liabilities and a $7.35 million
total stockholders' deficit.

Zachary Salum Auditors P.A., in Miami, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has incurred significant recurring losses from
operations, its total liabilities exceeds its total assets, and is
dependent on outside sources of funding for continuation of its
operations.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


NEW YORK MART: Case Summary & 10 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: New York Mart Ave. U 2nd Inc.
        1721 Avenue U
        Brooklyn, NY 11229

Case No.: 14-45655

Chapter 11 Petition Date: November 5, 2014

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

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Gregory M. Messer, Esq.
                  LAW OFFICES OF GREGORY MESSER, PLLC
                  26 Court Street, Suite 2400
                  Brooklyn, NY 11242
                  Tel: (718) 858-1474
                  Fax: (718) 797-5360
                  Email: gremesser@aol.com

Total Assets: $732,644

Total Liabilities: $1 million

The petition was signed by Shunyu She, vice president.

A list of the Debtor's 10 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb14-45655.pdf


NORTEL NETWORKS: Asks Court to Approve Hewlett-Packard Settlement
-----------------------------------------------------------------
Nortel Networks Inc. has filed a motion seeking court approval for
a deal that would resolve its dispute with Hewlett-Packard Co. and
Hewlett-Packard Financial Services Co.
Nortel in January 2011 sued the tech firms to recover more than
$5.18 million it paid for goods sold and services provided by the
firms.

Under the deal, Nortel agreed to dismiss the lawsuit in return for
a payment of $118,000 by each of the firms in the form of a
reduction of their respective claims against the
telecommunications company.

Hewlett-Packard can assert a general unsecured claim of $837,892
while the other tech firm can assert a general unsecured claim of
$2,072 against Nortel, according to the deal.  The agreement is
available for free at http://is.gd/nYTlOh

The motion is on U.S. Bankruptcy Judge Kevin Gross' calendar for
Dec. 2.  Objections are due by Nov. 25.

                      About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
business in more than 150 countries around the world.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced a proceeding with the Ontario Superior Court of Justice
under the Companies' Creditors Arrangement Act (Canada) seeking
relief from their creditors.  Ernst & Young was appointed to serve
as monitor and foreign representative of the Canadian Nortel
Group.  That same day, the Monitor sought recognition of the CCAA
Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No.
09-10164) under Chapter 15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New
York, serve as the U.S. Debtors' general bankruptcy counsel; Derek
C. Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in
Wilmington, serves as Delaware counsel.  The Chapter 11 Debtors'
other professionals are Lazard Freres & Co. LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims and notice
agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., in Wilmington, Delaware,
represent the Unsecured Creditors Committee.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of Long-
Term Disability Participants tapped Alvarez & Marsal Healthcare
Industry Group as financial advisor.  The Retiree Committee is
represented by McCarter & English LLP as Delaware counsel, and
Togut Segal & Segal serves as the Retiree Committee.  The
Committee retained Alvarez & Marsal Healthcare Industry Group as
financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.


NNN 3500 MAPLE 26: Wins Confirmation of Joint Chapter 11 Plan
-------------------------------------------------------------
Bankruptcy Judge Harlin Dewayne Hale issued Findings of Fact,
Conclusions of Law and Order confirming the Joint Chapter 11 Plan
of NNN 3500 Maple 26, LLC, et al.

The Court entered an Order dated August 29, 2014, approving the
explanatory Disclosure Statement as having "adequate information"
under section 1125 of the Bankruptcy Code, and established October
21, 2014 as the date of the hearing to consider confirmation of
the Plan.

As reported by the Troubled Company Reporter on Sept. 22, the
disclosure statement provides that NNN 3500 Maple and its
affiliated debtors are "jointly and severally liable on all
claims."  They do not intend to solicit acceptances on a separate
"debtor-by-debtor" basis.  Approval of the plan will apply to NNN
3500 Maple and all its affiliated debtors.

The Plan provides for a 100% estimated recovery to all creditors.
As of the effective date of the plan, ownership of the assets of
each company's estate will vest in that company free and clear of
liens, claims, rights, title and interests.

U.S. Bank National Association, as Trustee, successor-in-interest
to Bank of America, N.A., as Trustee for the Registered Holders of
Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-
Through Certificates, Series 2006-C23, by and through CWCapital
Asset Management LLC, filed a limited objection to the Plan.

A copy of the Court's November 4, 2014 Findings of Fact,
Conclusions of Law and Order Confirming the Debtors' Joint Chapter
11 Plan is available at http://bit.ly/1GvgxkIfrom Leagle.com.

                   About NNN 3500 Maple Entities

NNN 3500 Maple 26, LLC, based in Costa Mesa, Calif., filed for
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 12-23718) on
Nov. 30, 2012.  Judge Scott C. Clarkson presided over the case.
In its schedules, the Debtor disclosed $45,563,241 in total assets
and $46,658,593 in total liabilities.

On Jan. 23, 2013, the California Bankruptcy Court entered an order
transferring venue of the bankruptcy case to the U.S. Bankruptcy
Court for the Northern District of Texas (Case No. 13-30402).
Judge Harlin DeWayne Hale in Dallas presides over the case.

On Aug. 29, 2013, 26 other affiliates filed separate Chapter 11
petitions.  These entities are: NNN 3500 Maple 1, LLC, NNN 3500
Maple 2, LLC, NNN 3500 Maple 3, LLC, NNN 3500 Maple 4, LLC, NNN
3500 Maple 5, LLC, NNN 3500 Maple 6, LLC, NNN 3500 Maple 7, LLC,
NNN 3500 Maple 10, LLC, NNN 3500 Maple 12, LLC, NNN 3500 Maple 13,
LLC, NNN 3500 Maple 14, LLC, NNN 3500 Maple 15, LLC, NNN 3500
Maple 16, LLC, NNN 3500 Maple 17, LLC, NNN 3500 Maple 18, LLC, NNN
3500 Maple 20, LLC, NNN 3500 Maple 22, LLC, NNN 3500 Maple 23,
LLC, NNN 3500 Maple 24, LLC, NNN 3500 Maple 27, LLC, NNN 3500
Maple 28, LLC, NNN 3500 Maple 29, LLC, NNN 3500 Maple 30, LLC, NNN
3500 Maple 31, LLC, NNN 3500 Maple 32, LLC, and NNN 3500 Maple 34.

Each Debtor holds an ownership interest as a tenant in common in
an 18-story commercial office building commonly known as 3500
Maple Avenue, Dallas, Texas 75219.

These TICs have not filed for bankruptcy: NNN 3500 Maple 0, LLC,
NNN 3500 Maple 8, LLC, NNN 3500 Maple 9, LLC, NNN 3500 Maple 11,
LLC, NNN 3500 Maple 25, LLC, and NNN 3500 Maple 35, LLC.

Bankruptcy Judge Harlin DeWane Hale denied confirmation of two
competing reorganization plans filed in the Chapter 11 cases of
NNN 3500 Maple 26 LLC and its affiliated debtors.

The Plan is to be funded by an $8.5 million "Cash Infusion" and
"Additional Equity Contributions" of around $10 million.  Under
the Debtors' Plan, the building will undergo substantial
rehabilitation.

The Plan propose by Strategic Acquisition Partners, LLC, a party
that acquired a claim in the case, similar to the Debtors', in an
attempted cure and restatement, will replace the Borrower with
NewCo under the Loan Documents.  NewCo will be divided into Class
A and Class B membership interests.

An official creditors' committee has not been appointed in this
case.  Neither a trustee nor an examiner has been appointed.

The Debtors are represented by Michelle V. Larson, Esq., at
ANDREWS KURTH LLP, and Jeremy B. Reckmeyer, Esq., at ANDREWS KURTH
LLP.

Strategic Acquisition Partners LLC is represented by Joseph J.
Wielebinski, Esq., Davor Rukavina, Esq., Zachery Z. Annable, Esq.,
and Thomas D. Berghman, Esq., at MUNSCH HARDT KOPF & HARR, P.C.

William B. Finkelstein, Esq., Esq., and Jeffrey R. Fine, Esq., at
DYKEMA GOSSETT PLLC serve as counsel to Maple Avenue Tower, LLC.


OMNICARE INC: S&P Lowers Subordinated Debt Rating to 'B+'
---------------------------------------------------------
Standard & Poor's Ratings Services assigned a 'BBB-' issue-level
rating to Omnicare Inc.'s proposed unsecured notes.  The '1'
recovery rating reflects S&P's expectation for very high (90%-
100%) recovery in the event of a payment default.  S&P also
lowered its issue-level rating on Omnicare's subordinated debt to
'B+' from 'BB' and revised the recovery rating to '6' from '4',
indicating S&P's expectation for negligible (0%-10%) recovery in
the event of a payment default.  The downgrade reflects reduced
recovery prospects resulting from the addition of higher priority
debt.

At the same time, S&P affirmed its 'BB' corporate credit rating on
Omnicare.  The outlook is stable.

"Omnicare maintains a good market position in a narrow business.
The company is exposed to reimbursement risk and indirectly relies
on the government for a significant 50% of revenue for its
pharmacy services," said credit analyst David Peknay.  "However,
the company's position as one of two leading market participants
that provide pharmacy services to nursing homes and other long-
term care providers partly offset those risks, supporting its
"fair" business risk profile."

"Our stable rating outlook incorporates our expectation that
Omnicare will continue to experience greater growth in its
specialty group, offsetting weaker growth prospects for its long-
term care group.  It also reflects our view that the company will
continue to generate significant discretionary cash flow, and that
the company will return cash to shareholders while maintaining
current credit protection measures," S&P said.

Downside Scenario

S&P could lower its ratings if the recent stabilization in beds
served reverses, the company pursues significant debt-financed
acquisitions or share repurchases, or reduced reimbursement pushes
debt to EBITDA over 4x on a sustained basis.  S&P believes a 5%
revenue decline accompanied by an estimated 200-basis-point (bp)
margin reduction over the next year could raise leverage to about
4x, excluding the impact of any share repurchases or acquisition
activity.

Upside Scenario

S&P could raise its rating if Omnicare reduces debt leverage to
less than 3x and establishes a commitment to sustaining leverage
at this level.  S&P believes this could be achieved through debt
reduction, an increase in beds served, and a greater contribution
from the higher-margin specialty care segment.  S&P believes the
company would need to either reduce debt by around $500 million or
improve margins by around 400 bps to support leverage at levels
consistent with a higher rating.


ORMET CORP: Gets Nod to Dismiss Chapter 11 Case
-----------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Mary F. Walrath in
Wilmington agreed to dismiss former aluminum smelter Ormet Corp.'s
Chapter 11 case after approving a credit bid deal to sell its
residual assets to private equity lender Wayzata Investment
Partners LLC, which credit bid its outstanding claims and held
debt, including $7.5 million owed under a prepetition term loan.

According to Law360, Judge Walrath agreed to grant Ormet's request
for a dismissal as soon the debtor winds up its remaining affairs.
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Ormet said in court papers that continuing the
Chapter 11 case following consummation of the final sale and
settlements won't result in further recoveries to creditors.
Instead, it would incur additional administrative costs that the
company can't afford to fund, the Bloomberg report related.

                       About Ormet Corp.

Aluminum producer Ormet Corporation, along with affiliates, filed
for Chapter 11 protection (Bankr. D. Del. Case No. 13-10334) on
Feb. 25, 2013, with a deal to sell the business to a portfolio
company owned by private investment funds managed by Wayzata
Investment Partners LLC.

Headquartered in Wheeling, West Virginia, Ormet --
http://www.ormet.com/-- is a fully integrated aluminum
manufacturer, providing primary metal, extrusion and thixotropic
billet, foil and flat rolled sheet and other products.

Ormet disclosed assets of $406.8 million and liabilities totaling
$416 million.  Secured debt of about $180 million includes $139.5
million on a secured term loan and $39.3 million on a revolving
credit.

Affiliates that separately filed Chapter 11 petitions are Ormet
Primary Aluminum Corporation; Ormet Aluminum Mill Products
Corporation; Specialty Blanks Holding Corporation; and Ormet
Railroad Corporation.

Ormet emerged from a prior bankruptcy in April 2005.  Lender
Wayzata Investment Partners LLC is among existing owners.  Others
are UBS Willow Fund LLC and Fidelity Leverage Company Stock Fund.

In the 2013 case, Ormet is represented in the case by Morris,
Nichols, Arsht & Tunnell LLP's Erin R. Fay, Esq., Robert J.
Dehney, Esq., Daniel B. Butz, Esq.; and Dinsmore & Shohl LLP's Kim
Martin Lewis, Esq., Patrick D. Burns, Esq.  Kurtzman Carson
Consultants is the claims and notice agent.  Evercore's Lloyd
Sprung and Paul Billyard serve as investment bankers to the
Debtor.

An official committee of unsecured creditors was appointed in the
case in March 2013.  The Committee is represented by Rafael X.
Zahralddin, Esq., Shelley A. Kinsella, Esq., and Jonathan M.
Stemerman, Esq., at Elliott Greenleaf; and Sharon Levine, Esq., S.
Jason Teele, Esq., and Cassandra M. Porter, Esq., at Lowenstein
Sandler LLP.

In October 2013, the U.S. Trustee filed papers saying the
bankruptcy instead should be converted to a liquidation in
Chapter 7.  The U.S. Trustee said there is no budget and no
financing for a wind-down in Chapter 11.

In November 2013, the Bankruptcy Court approved on an interim
basis Ormet's motion for (a) an interim plan to wind down the
Debtors' businesses and protections for certain employees
implementing the wind down, (b) authorizing the Debtors to modify
employee benefit plans consistent with the wind down plan, and (c)
authorizing the Debtors to take any and all actions necessary to
implement the wind down plan.

In December 2013, Ormet completed a previously approved sale of
its alumina smelter in Burnside, Louisiana, to Almatis Inc. for
$39.4 million.  There was no auction.  Completion of a court-
approved sale of the business to lender and part owner Wayzata
Investment Partners LLC became impossible when Ohio utility
regulators refused in October to grant reductions in electricity
prices. Wayzata would have acquired the business largely in
exchange for debt.

Ormet also has sold 32,000 metric tons of alumina for $8.4 million
to Glencore AG, and its rights and interests in and to 17,086 MT
baked carbon anodes, located at the Debtors' Hannibal, Ohio
location, and its rights and interest in and to 34,755 MT baked
carbon anodes, located in a storage in Baltimore, Maryland, to
Alcoa Materials Management, Inc.

In 2014, the Bankruptcy Court issued several interim orders
related to the wind-down plan.  Those orders authorize the Debtors
to make payments through a certain date, as part of implementing
the wind-down plan.


PENGUIN DRIVE-IN: Manager Gives Up Restaurant; Sale Uncertain
-------------------------------------------------------------
Jennifer Thomas at the Charlotte Business Journal reports that
Penguin Drive-In's manager Lisa Ballentine agreed on Monday to
surrender the restaurant's keys to Plaza-Midwood landlord, 1921
Commonwealth Avenue Holdings.

Eric Frazier at Charlotteobserver.com relates 1921 Commonwealth
sued the Penguin Drive-In management in 2013, accusing the eatery
of defaulting on its lease and a $17,763 loan.  The Penguin Drive-
In management, according to Charlotteobserver.com, owed more than
$75,000 under its lease.  The report says that when Don Rawlins,
an attorney listed as an official with 1921 Commonwealth, was
asked whether Ms. Ballentine still owes the money, he replied,
"That's to be decided" as the bankruptcy case continues.

According to Charlotte Business Journal, Samantha Brumbaugh, the
attorney for Ms. Ballentine, initially sought a continuance of the
proceedings, saying that an investor is interested in assuming the
Penguin Drive-In's lease and purchasing its assets.

Penguin Drive-In, Business Journal states, sought in October
permission from the U.S. Bankruptcy Court for the Western District
of North Carolina to sell substantially all of its assets to Sun
Shark Holdings LLC for $100,000.  The sale is expected to close on
Nov. 12, the Business Journal relates.

WCNC says that the Bankruptcy Court will decide what happens to
the Penguin name and logo.

Jeremy Markovich at WCNC reports that the Penguin Drive-In
restaurant had been closed since August.  According to an August
2014 report by NBC Charlotte, Ms. Ballentine said that the
restaurant was closed for several days due to a death in the
family of a line cook, and that she and her staff decided to take
some time off.  Charlotteobserver.com adds that Ms. Ballentine
initially said it would reopen on Aug. 6, but that didn't happen.

                     About Penguin Drive-In

Penguin Drive-In, LLC filed for Chapter 11 bankruptcy (Bankr.
W.D.N.C. Case No. 13-32353) on Nov. 5, 2013, listing under
$1 million in both assets and debts.

Affiliate Penguin Holdings, Inc. filed a separate Chapter 11
petition (Bankr. W.D.N.C. Case No. 13-32354) on Nov. 5, 2013, also
listing under $1 million in both assets and debts.

As reported by the Troubled Company Reporter on May 15, 2014, Eric
Frazier, writing for The Charlotte Observer, reported that
U.S. Bankruptcy Court Judge J. Craig Whitley in an April 16 order
dismissed the Chapter 11 bankruptcy case filed in 2013 by the
manager of the Penguin Drive-In restaurant, after the eatery
failed to pay court-ordered quarterly fees and file monthly status
reports and submit its 2012 tax return.

Eric Frazier at Charlotteobserver.com reported on Nov. 3, 2014,
that the second bankruptcy case associated with the restaurant
also was dismissed, but the restaurant again filed for bankruptcy
in August 2014.


PHOENIX REALTY: Bank Lender to Hold Foreclosure Sale on Dec. 5
--------------------------------------------------------------
Androscoggin Savings Bank will sell at a foreclosure auction on
Dec. 5, 2014, at 3:00 p.m. the personal property of Phoenix Realty
Holdings, LLC.

The sale will be held at 49 Kamich Drive, Augusta, Maine.

The Real Estate and any Personal Property will be sold on an AS IS
WHERE IS BASIS.

Any bidder wishing to bid must, prior to the start of the auction,
make a deposit of $10,000 to bid in cash or certified U.S. funds
made payable to Keenan Auction Company.  Unsuccessful bidders will
receive a refund of their deposit.

As to the successful bidder, the deposit will be nonrefundable,
and will be credited to the purchase price. The successful bidder
will be required to sign a purchase and sale agreement. The
balance of the purchase price will be due and payable on or before
January 5, 2015.

Other terms and conditions pertaining to the sale may be announced
at the time of the sale.  Interested bidders are urged to contact
the following for further details:

     KEENAN AUCTION COMPANY
     One Runway Road
     South Portland, Maine 04106
     Tel: (207) 885-5100
     E-mail: info@keenan auction.com

Androscoggin Savings Bank is represented by Norman J. Rattey, Esq.


PINNACLE ENTERTAINMENT: To Spin Off REIT At Investor's Behest
-------------------------------------------------------------
Ronald Orol, writing for The Deal, reported that under pressure
from activist investor Orange Capital LLC's Daniel Lewis, casino
operator Pinnacle Entertainment Inc. announced it plans to
separate its real estate assets from its operating assets.

According to the report, Pinnacle said it plans to create a Real
Estate Investment Trust, or REIT, for its real estate that will be
distributed to the company's existing shareholders in a tax-free
spinoff.  In addition, "substantially" all of the real estate will
be leased back to Pinnacle, which currently owns and operates 15
gaming properties in eight states, and the new REIT will have a
mandate to make real estate acquisitions in the "gaming, leisure
and entertainment industries," the report added.

                About Pinnacle Entertainment

Pinnacle Entertainment, Inc., owns, operates and develops casinos
and related hospitality and entertainment facilities.  The Las
Vegas-based Company currently owns and operates 15 gaming
entertainment properties located in Colorado, Indiana, Iowa,
Louisiana, Mississippi, Missouri, Nevada and Ohio.

The Troubled Company Reporter, on July 17, 2014, reported that
Fitch Ratings has affirmed Pinnacle Entertainment, Inc.'s (PNK;
Pinnacle) Issuer Default Rating (IDR) at 'B+'.  Fitch also
affirmed all of Pinnacle's issue ratings including the senior
secured credit facility at 'BB+/RR1', senior unsecured notes at
'BB-/RR3' and subordinated notes at 'B-/RR6'.  The Rating Outlook
is Stable.


POSITIVEID CORP: Signs $234,500 Securities Purchase Agreements
--------------------------------------------------------------
PositiveID Corporation closed a securities purchase agreement with
Blue Citi, LLC, providing for the purchase of a Convertible
Promissory Note in the principal amount of $161,000, according to
a regulatory filing with the U.S. Securities and Exchange
Commission.

Note I contains an $11,000 original issue discount to cover legal
and due diligence fees such that the cash proceeds received on the
closing of Note I is $150,000.  The Company also issued a warrant
in connection with Note I, providing for the purchase 1,000,000
shares of Company common stock with an exercise price of $0.08 per
share.  That warrant has no price or quantity resets.  Note I
bears interest at the rate of 8% per annum; is due and payable on
Oct. 27, 2015; and may be converted by Blue Citi at any time after
180 days of the date of closing into shares of Company common
stock at a conversion price equal to a 40% discount of the average
of the three lowest closing bid prices calculated at the time of
conversion.  Note I also contains certain representations,
warranties, covenants and events of default, and increases in the
amount of the principal and interest rates under Note I in the
event of such defaults.

On Oct. 27, 2014, the Company also closed a Securities Purchase
Agreement with LG Capital Funding, LLC, providing for the purchase
of two Convertible Redeemable Notes in the aggregate principal
amount of $73,500, with the first note being in the amount of
$36,750 and the second note being in the amount of $36,750. The
first Note II was funded on Oct. 27, 2014, with the Company
receiving $33,250 of net proceeds (net of legal and due diligence
fees), and the second Note II was initially issued in exchange for
the issuance of an offsetting $36,750 secured note, issued by LG
Capital to the Company.  The funding of the second Note II is
subject to certain conditions as set forth in the second Note II.
The Notes II bear interest at the rate of 8% per annum; are due
and payable on Oct. 21, 2015; and may be converted by LG Capital
at any time after 180 days of the date of closing into shares of
Company common stock at a conversion price equal to a 40% discount
of the lowest closing bid price (as set forth in Notes II)
calculated at the time of conversion.  Notes II also contain
certain representations, warranties, covenants and events of
default, and increases in the amount of the principal and interest
rates under Note II in the event of those defaults.

                         About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $13.33 million on $0 of revenue for the year ended Dec. 31,
2013, as compared with a net loss attributable to common
stockholders of $25.30 million on $0 of revenue in 2012.

As of June 30, 2014, the Company had $1.19 million in total
assets, $6.98 million in total liabilities, all current, $1.21
million in mandatorily redeemable preferred stock and a $6.99
million total stockholders' deficit.

EisnerAmper LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has a working capital deficiency and an accumulated
deficit.  Additionally, the Company has incurred operating losses
since its inception and expects operating losses to continue
during 2014.  These conditions raise substantial doubt about its
ability to continue as a going concern.


PRAYOSHA 1 INC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Prayosha 1, Inc.
           dba Super 8
           fka Prayosha, Inc.
        417 Historic Nature Trail
        Gatlinburg, TN 37738

Case No.: 14-51827

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 5, 2014

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

Judge: Hon. Marcia Phillips Parsons

Debtor's Counsel: C. Dan Scott, Esq.
                  SCOTT LAW GROUP, PC
                  209 Chilhowee School Rd., Ste. 16
                  Seymour, TN 37865
                  Tel: (865) 246-1050
                  Fax: (865)246-1054
                  Email: dan@scottlawgroup.com

Total Assets: $3.08 million

Total Liabilities: $3.87 million

The petition was signed by Ishver T. Patel, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tneb14-51827.pdf


PRESSURE BIOSCIENCES: Presented at FSXinterlinked Conference
------------------------------------------------------------
Pressure Biosciences, Inc., presented at the FSXinterlinked
Investor Conference on Oct. 29, 2014.  The Company discussed
about, among other things:

  * Company overview, management and board;

  * completion of the 1st phase of Barozyme HT48 commercialization
    plan - first install expected in october 2014;

  * invitation to speak at Warsaw Stock Exchange; and

  * partnership with Powertech Technology Company to develop China
    market for PBI's PCT platform.

Prof. Ruedi Aebersold, Institute of Molecular Systems Biology, ETH
Zurich, Switzerland, said, "Working with SB SCIEX we developed a
new and improved mass spectrometry method called SWATH, which when
combined with PCT and consumables (including the u-Pestle)
resulted in significantly improved protein data from needle biopsy
samples.  We believe PCT SWATH will lead to better analysis of
needle biopsy samples in both clinical and research settings,
leading to advances in personalized medicine, especially cancer
diagnosis and treatment."

A copy of the presentation is available at http://is.gd/6he8nZ

                     About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $5.24 million on $1.50 million of total revenue
for the year ended Dec. 31, 2013, as compared with a net loss
applicable to common stockholders of $4.40 million on $1.23
million of total revenue in 2012.

As of June 30, 2014, the Company had $1.48 million in total
assets, $2.75 million in total liabilities, and a $1.27 million
total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has had recurring net losses and continues to
experience negative cash flows from operations.  The auditors said
these conditions raise substantial doubt about its ability to
continue as a going concern.


RECYCLE SOLUTIONS: Section 341(a) Meeting Scheduled for Dec. 1
--------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Recycle
Solutions, Inc., has been set for Dec. 1, 2014, at 10:00 a.m., 200
Jefferson Avenue, Suite 400, in Memphis, Tennessee.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Recycle Solutions, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. W.D. Tenn. Case No. 14-31338) on Nov. 4, 2014.  The
petition was signed by James Downing as president.  Judge George
W. Emerson Jr. is assigned to the case.   The Debtor disclosed
total assets of $11.54 million and total liabilities of $6.39
million.  Harris Shelton Hanover Walsh, PLLC, serves as the
Debtor's counsel.


REVEL AC: Wants Contract With Chief Operations Officer Rejected
---------------------------------------------------------------
Revel AC, Inc. has filed a motion seeking court approval to reject
an employment agreement between Revel Entertainment Group LLC and
its chief operating officer.

The move comes after Scott Kreeger on Oct. 16 resigned from his
position as Revel Entertainment's chief operating officer.  Mr.
Kreeger accepted a job offer from another employer, according to
the court filing.

Revel AC wants the employment agreement rejected nunc pro tunc to
Oct. 16.

The U.S. Bankruptcy Court for the District of New Jersey will hold
a hearing on Nov. 13 to consider the request.  Objections are due
by Nov. 6.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and
operates Revel, a Las Vegas-style, beachfront entertainment resort
and casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19,
2014, to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-
16253) on March 25, 2013, with a prepackaged plan that reduced
debt by $1.25 billion.  Less than two months later on May 15,
2013, the 2013 Plan was confirmed and became effective on May 21,
2013.


REVEL AC: 5th Interim Order Authorizing DIP Financing Entered
-------------------------------------------------------------
U.S. Bankruptcy Judge Gloria Burns entered a fifth amended interim
order authorizing Revel AC, Inc. and its affiliated debtors to
obtain post-petition financing and use cash collateral.

The bankruptcy judge will consider final approval of the DIP
facility at a hearing scheduled for Nov. 13, at 10:00 a.m. (EST)
at the U.S. Bankruptcy Court for the District of New Jersey.

A copy of the court order is available without charge at
http://bankrupt.com/misc/Revel_5th_Interim_DIP_Order.pdf

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and
operates Revel, a Las Vegas-style, beachfront entertainment resort
and casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19,
2014, to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-
16253) on March 25, 2013, with a prepackaged plan that reduced
debt by $1.25 billion.  Less than two months later on May 15,
2013, the 2013 Plan was confirmed and became effective on May 21,
2013.


ROOSTER ENERGY: Moody's Withdraws Caa1 Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings for Rooster
Energy Ltd., including its proposed $100 million senior secured
notes. The senior notes offering was not completed.

Ratings withdrawn:

Issuer: Rooster Energy Ltd.

Caa1 Corporate Family Rating, withdrawn

Caa1-PD Probability of Default Rating, withdrawn

SGL-3 Speculative Grade Liquidity Rating, withdrawn

Caa1 (LGD 4, 57%) Senior Secured Notes Rating, withdrawn

Stable Outlook, withdrawn

Ratings Rationale

Rooster Energy Ltd. (Rooster) is a Gulf of Mexico shallow water
focused publicly traded oil and gas E&P company with a significant
well decommissioning business.


SACHIDANAND INVESTMENTS: Case Summary & 14 Top Unsec. Creditors
---------------------------------------------------------------
Debtor: Sachidanand Investments, Inc.
           fdba Days Inn
           dba Travel Inn
        3670 Roy Messer Hwy
        White Pine, TN 37890

Case No.: 14-51825

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 5, 2014

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

Judge: Hon. Marcia Phillips Parsons

Debtor's Counsel: Barry W. Eubanks, Esq.
                  SCOTT AND EUBANKS, PC
                  209 Chilhowee School Rd., Ste. 16
                  Seymour, TN 37865
                  Tel: 865 -246-1050
                  Email: barry@scottlawgroup.com

Total Assets: $2.10 million

Total Liabilities: $4.29 million

The petition was signed by Ishver T. Patel, president.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tneb14-51825.pdf


SAMUEL WYLY: SEC Slams Tycoon's Bankruptcy Budget as "Staggering"
-----------------------------------------------------------------
Joseph Ax and Nate Raymond, writing for Reuters, reported that a
lawyer for the U.S. Securities and Exchange Commission criticized
Texas tycoon Sam Wyly's proposed bankruptcy budget as
"staggering."  According to the report, items in Mr. Wyly's budget
include $32,000 a month for assistants to help him write his books
and nearly $7,000 a month to support elderly friends and family
members.

"We are concerned that the debtor is attempting to deplete
domestic assets and making it harder for U.S. creditors to
collect," Angela Dunn, an SEC lawyer, said, Reuters cited.

                        About Samuel Wyly

Samuel Wyly filed for Chapter 11 bankruptcy protection on Oct. 19,
2014, weeks after a judge ordered him to pay several hundred
million dollars in a civil fraud case.  In September, a federal
judge ordered Mr. Wyly and the estate of his deceased brother to
pay more than $300 million in sanctions after they were found
guilty of committing civil fraud to hide stock sales and nab
millions of dollars in profits.

The case is In re Samuel E. Wyly, 14-35043, U.S. Bankruptcy Court,
Northern District of Texas (Dallas).


SAMUEL WYLY: NY Judge Freezes Billionaire's Foreign Accounts
------------------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that
U.S. District Judge Shira Scheindlin in New York issued an order
freezing the assets of former billionaire Samuel Wyly to prevent
transfers from his offshore accounts on the Isle of Man to family
members -- a flow that the U.S. Securities and Exchange Commission
argued could deplete the pool of money they are trying collect to
pay a $200 million judgment for securities fraud.

Judge Scheindlin, in October, also issued an order freezing Mr.
Wyly's assets the day after he filed for bankruptcy in Texas in
order to "preserve the status quo."  In her October order, Judge
Scheindlin said the while the assets at issue might be property of
Mr. Wyly's Chapter 11 estate, an injunction was necessary to
preserve the SEC's ability to collect on any eventual judgment.

                        About Samuel Wyly

Samuel Wyly filed for Chapter 11 bankruptcy protection on Oct. 19,
2014, weeks after a judge ordered him to pay several hundred
million dollars in a civil fraud case.  In September, a federal
judge ordered Mr. Wyly and the estate of his deceased brother to
pay more than $300 million in sanctions after they were found
guilty of committing civil fraud to hide stock sales and nab
millions of dollars in profits.

The case is In re Samuel E. Wyly, 14-35043, U.S. Bankruptcy Court,
Northern District of Texas (Dallas).


SAN BERNARDINO, CA: Allowed to Reject Firefighters' CBA
-------------------------------------------------------
Judge Meredith A. Jury of the U.S. Bankruptcy Court Central
District of California, Riverside Division, allowed city of San
Bernardino to reject its collective bargaining agreement with the
city's firefighter union, saying "the balance of equities favor
rejection of the CBA, given the substantial benefit to the city
and its financial rehabilitation versus the relatively modest
impact on the firefighers associated with the city's
implementation of certain new terms and conditions of employment,
particularly when the other unions of the city have agreed to
concessions which impact their employees' take home pay."

According to Judge Jury, the City's evidence on the financial
burden of the contract was entirely unrebutted by any admissible
evidence presented by the San Bernardino City Professional
Firefighters, who chose to not present any expert testimony to
counter the testimony of Michael Busch, the president and CEO of
Urban Futures, Inc., the City's financial consultant.  Mr. Busch
has stated during the three-day trial on the issue in April that
the cost savings, estimated to be $3.7 million in fiscal year
2014-2015, in rejecting the SBCPF CBA were critical to the
implementation of the city's pendency plan and the city's ability
to propose a confirmable plan of adjustment and that absent the
rejection of the police, fire and middle management memorandum of
understanding, the City could not successfully implement its
Pendency Plan.

A full-text copy of Judge Jury's findings of fact and conclusions
of law dated Nov. 4, 2014, is available at http://is.gd/NzSu0F

                   About San Bernardino, Calif.

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles
(104 km) east of Los Angeles, estimated assets and debts of more
than $1 billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.


SCIENTIFIC GAMES: S&P Assigns 'BB-' Rating on New $700MM Sr. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned New York-based
Scientific Games Corp.'s subsidiary Scientific Games International
Inc.'s proposed new $700 million senior secured notes due 2021 an
issue-level rating of 'BB-' (one notch above the corporate credit
rating), with a recovery rating of '2', indicating S&P's
expectation for substantial (70% to 90%) recovery for lenders in
the event of a payment default.  S&P also assigned Scientific
Games International Inc.'s proposed $2.2 billion senior unsecured
notes due 2022 an issue-level rating of 'B' (one notch below the
corporate credit rating), with a recovery rating of '5',
indicating S&P's expectation for modest (10% to 30%) recovery for
lenders in the event of a payment default.

S&P's issue-level and recovery ratings on the company's senior
secured credit facility remain unchanged despite an additional
$250 million in incremental term loan B-2 proceeds that are
expected to be committed concurrent with the notes issuance.  The
incremental proceeds bring the total size of the term loan B-2 to
$2.25 billion.  S&P rates the company's senior secured credit
facility, which consists of a $568 million revolver due 2018, a
$2.3 billion existing term loan due 2020, and the new term loan B-
2, 'BB-'.  The recovery rating remains '2'.

The company plans to use proceeds from the term loan B-2, the
revolver, the expected senior secured and unsecured notes
issuances, and cash on hand at both companies to fund the
approximately $3.2 billion purchase price for Bally Technologies
Inc., to refinance about $1.8 billion in net debt at Bally, and to
pay for transaction fees and expenses.

S&P's 'B+' corporate credit rating and stable rating outlook on
Scientific Games Corp. are unchanged.  S&P affirmed the corporate
credit rating on Scientific Games and removed all ratings from
CreditWatch on Sept. 3, 2014, following S&P's assessment of the
acquisition.  The rating reflects S&P's assessment of the
company's business risk profile as "satisfactory" and its
financial risk profiles as "highly leveraged", pro forma for the
completion of the acquisition of Bally.

Following the acquisition, S&P believes the company will be the
second largest global gaming and lottery company in terms of
revenue, compared to third or fourth as stand-alone companies.
S&P expects the company will maintain its good position in the
U.S. instant ticket market (Scientific Games supplies 39 of the 44
U.S. jurisdictions that sell instant lottery games) and lottery
market (Scientific Games has contracts to operate 9 of the 46 U.S.
jurisdictions that operate draw lotteries).  The acquisition also
enhances the company's already good level of recurring revenue
given a large portion of Bally's revenue is derived from licensing
and service revenue for casino management systems (that have high
retention rates given switching costs), from licensing the
company's table products, and in part from servicing or leasing
gaming machines.  Scientific Games also benefits from recurring
revenue from long term lottery contracts with jurisdictions for
printed products and lottery systems.

S&P's financial risk assessment reflects its expectation for
adjusted leverage, pro forma for the completion of the acquisition
and related financing, to remain high, in the low- to mid-7x area,
through 2015.  S&P also expects adjusted funds from operations
(FFO) to debt to remain in the high-single-digit percent area
through 2016.  Offsetting high leverage and low FFO to debt is
S&P's expectation for EBITDA coverage of interest to remain good,
in the low-2x area.  S&P's measure of EBITDA includes cash
distributions from entities accounted for under the equity method,
and adjusts for S&P's expectation for synergies.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P's recovery ratings on Scientific Games' senior secured
      credit facility and subordinated notes are unchanged at '2'
      and '6', respectively.  S&P's simulated default scenario
      contemplates a payment default in 2018, attributable to
      lower than expected achievement of synergies related to the
      acquisition of Bally, and a prolonged economic downturn that
      reduces consumer spending on gaming, extends the gaming
      equipment replacement cycle, and reduces spending on new
      equipment.  S&P assumes a reorganization of Scientific Games
      under a distressed scenario.

Simulated default and valuation assumptions:

   -- Year of default: 2018

Simplified waterfall:

   -- Net enterprise value (after 7% admin. costs): $5.0 bil.
   -- Net value available to secured facilities: $4.38 bil.
   -- Senior secured debt: $6.0 bil.
   -- Recovery expectations: 70%-90%
   -- Net value available to unsecured facilities: $615 mil.
   -- Senior unsecured debt: $2.3 bil.
   -- Recovery expectations: 10%-30%
   -- Net value available to subordinated facilities: $0
   -- Subordinated debt: $931 mil.
   -- Recovery expectations: 0%-10%

Note: All debt amounts include six months of prepetition interest.
N/A--Not applicable.

RATINGS LIST

Scientific Games Corp.
Corporate credit rating                   B+/Stable/--

Ratings Assigned
Scientific Games International Inc.
Senior secured
  $700 mil. notes due 2021                 BB-
    Recovery rating                        2
Senior unsecured
  $2.2 bil. notes due 2022                 B
    Recovery rating                        5


SCIENTIFIC GAMES: Files Third Quarter Form 10-Q With SEC
--------------------------------------------------------
Scientific Games Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $69.8 million on $415.6 million of total revenue for
the three months ended Sept. 30, 2014, compared to a net loss of
$500,000 on $234.4 million of total revenue for the same period
during the prior year.

The Company also reported a net loss of $187.2 million on $1.22
billion of total revenue for the nine months ended Sept. 30, 2014,
compared to a net loss of $26.7 million on $689 million of total
revenue for the same period in 2013.

As of Sept. 30, 2014, the Company had $4.03 billion in total
assets, $3.93 billion in total liabilities and $105.7 million in
total stockholders' equity.

"We believe that our cash flow from operations, available cash and
equivalents and available borrowing capacity under our revolving
credit facility will be sufficient to meet our liquidity needs for
the foreseeable future; however, there can be no assurance that
this will be the case.  We believe that substantially all cash
held outside the U.S. is free from legal encumbrances or similar
restrictions that would prevent it from being available to meet
our global liquidity needs," the Company stated in the filing.

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

                        http://is.gd/ciDNNr

                      About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  For more information, please
visit: www.scientificgames.com.

Scientific Games reported a net loss of $30.2 million in 2013, a
net loss of $62.6 million in 2012 and a net loss of $12.6 million
in 2011.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to B1.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SEVEN GENERATIONS: Moody's Hikes Corporate Family Rating to B2
--------------------------------------------------------------
Moody's Investors Service upgraded Seven Generations Energy Ltd.'s
(7G) Corporate Family Rating (CFR) to B2 from B3, Probability of
Default Rating to B2-PD from B3-PD and senior unsecured notes
rating to B3 from Caa1. The rating outlook was changed to positive
from stable. Moody's affirmed the SGL-3 Speculative Grade
Liquidity Rating.

"The upgrade to B2 and positive outlook reflect Moody's view that
Seven Generations' production base will become significantly
larger in 2015 with margins remaining solid," said Paresh Chari,
Moody's Analyst, "The proceeds from the IPO will largely support
the very large capex plan in 2015, keeping leverage strong."

Issuer: Seven Generations Energy Ltd

Upgrades:

  Probability of Default Rating, Upgraded to B2-PD from B3-PD

  Corporate Family Rating, Upgraded to B2 from B3

  Senior Unsecured Regular Bond/Debenture, May 15, 2020, Upgraded
  to B3(LGD5) from Caa1(LGD4)

Outlook Actions:

  Outlook, Changed To Positive From Stable

Affirmations:

  Speculative Grade Liquidity Rating, Affirmed SGL-3

Rating Rationale

The B2 CFR reflects 7G's concentration in a single field and a
single formation, high decline rates that require a large capex
program to offset and a very large growth capex program to develop
its large proved undeveloped reserve base, which entails
significant execution risk. The rating favorably recognizes the
company's significant total proved reserves base, advanced
development plans and Moody's expectation that its liquids
production, specifically condensate, will allow cash flows to grow
to levels supportive of the rating in 2015.

7G's SGL-3 rating reflects its adequate liquidity. Pro forma for
the C$880 million November 2014 IPO, 7G will have about C$1
billion of cash and a fully available C$480 million borrowing base
revolving credit facility (September 2017 maturity). From
September 30, 2014 to December 31, 2015, Moody's expect negative
free cash flow of about C$1.3 billion, which will be

funded from cash and revolver draws. There are no debt maturities
until 2020. Alternate liquidity is limited given that
substantially all of the company's assets are pledged under the
borrowing base revolver.

In accordance with Moody's Loss Given Default methodology, the
US$700 million senior unsecured notes are rated one notch below
the B2 CFR because of the existence of the prior-ranking C$480
million secured revolver.

The positive outlook reflects Moody's expectation that production
will increase significantly through 2015, improving leverage.

The rating could be upgraded if 7G executes on its development
plan increasing production towards 40,000 boe/d with about 35%
coming from condensate, while maintaining retained cash flow to
debt above 30% and E&P debt to production below US$35,000/boe.

The rating could be downgraded if 7G's production decreases
materially or if debt funded negative free cash flow leads to
retained cash flow to debt falling below 15% or E&P debt to
production increasing above US$50,000/boe.

Seven Generations Energy Ltd. is a Calgary, Alberta-based
exploration and production company with approximately 23 million
and 297 million barrels of equivalent oil (boe) of net proved
developed and total proved reserves, respectively, and average
daily production of 20,000 boe/d (net of royalties) for the first
half of 2014.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


SHASTA ENTERPRISES: Secured Creditor Won't Consent to Cash Use
--------------------------------------------------------------
Redding Bank of Commerce filed with the U.S. Bankruptcy Court for
the Eastern District of California, Sacramento Division, a notice
of perfection of interest in Shasta Enterprises' real properties
and non-consent to use of cash collateral.

Redding, a secured creditor, says it holds a security interest in
the real properties commonly described as 250 Hemsted Drive, 355
Hemsted Drive, and 381, 391, 393 & 401 Hemsted Drive, in Redding,
County of Shasta, California.  The bank says its security
interests, which extend to the rents, issues, profits, proceeds,
product and offspring of the real property collateral, were and
are fully perfected prior to the Petition Date.  The bank says it
doesn't consent to the Debtor's use of cash collateral, which
include some or all of the rents, issues, profits, proceeds,
product and offspring of the real property collateral.

Redding is represented by:

         Walter R. Dahl, Esq.
         Andrew Brian Reisinger, Esq.
         DAHL LAW, ATTORNEYS AT LAW
         2304 "N" Street
         Sacramento, CA 95816-5716
         Tel: (916) 446-8800
         E-mail: wdahl@DahlLaw.net
                 abreisinger@DahlLaw.net

                  About Shasta Enterprises

Redding, California-based Shasta Enterprises, dba Vidal Vineyards,
dba Silverado Knolls, dba Villa Vidal Vineyards, sought bankruptcy
protection on Oct. 31, 2014 (Case No. 14-30833, Bankr. E.D. Cal.).
The case is before Judge Michael S. McManus.

The Debtor's counsel is represented by David M. Brady, Esq., at
Law Office of Cowan & Brady, in Redding, California.

The Debtor lists total assets of $33.42 million and total debts of
$21.49 million.  The petition was signed by Antonio Rodriguez,
general partner.


SHASTA ENTERPRISES: Section 341(a) Meeting Set for Dec. 5
---------------------------------------------------------
A meeting of creditors in the bankruptcy case of Shasta
Enterprises is scheduled for Dec. 5, 2014, at 1:30 p.m. at Office
of the UST (7-500).  Proofs of claim are due by March 3, 2015.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Shasta Enterprises filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Cal. Case No. 14-30833) on Oct. 31, 2014.  Antonio Rodriguez
signed the petition as general partner.  Judge Michael S. McManus
presides over the case.  The Law Office of Cowan & Brady serves as
the Debtor's counsel.  The Debtor disclosed total assets of $33.42
million and total liabilities of $21.49 million.


SHELBOURNE NORTH: Related Midwest Takes Control of Chicago Spire
----------------------------------------------------------------
Joseph D. Frank, Esq., who represents Chicago Spire developer
Garrett Kelleher, confirmed Tuesday that his client handed over
the development site at 400 N. Lake Shore Drive to Related Midwest
LLC, after failing to make a required payment in October, David
Lee Matthews, writing for Chicagobusiness.com.

Chicagobusiness.com relates that Mr. Kelleher's venture had until
the end of October to pay Related Midwest more than $109 million.
The report says that the deadline could have been extended to
March 2015 by paying a $22 million fee and increasing Related
Midwest's claim, but Mr. Kelleher's lawyer told city officials the
venture was unlikely to secure enough funding to make any payment.

Chicagobusiness.com recalls that Mr. Kelleher found a local
partner, Steven Ivankovich of Atlas Apartment Holdings LLC, to
help secure the funding necessary to exit bankruptcy.
"Unfortunately we just ran out of time to get everything
documented and processed with our lender," Mr. Ivankovich said in
a statement.

According to Mary Ellen Podmolik at Chicago Tribune, Related
Midwest on Monday night withdrew after it received the deed to the
Chicago Spire site a motion it had filed on Saturday in U.S
Bankruptcy Court to compel Shelbourne to turn over the paperwork.
Related Midwest has not disclosed its intentions for the property,
Chicago Tribune reports.

                About Shelbourne North Water Street

A group of creditors filed an involuntary Chapter 11 petition
against Chicago, Illinois-based Shelbourne North Water Street L.P.
(Bankr. D. Del. Case No. 13-12652) on Oct. 10, 2013.  The case is
assigned to Judge Kevin J. Carey.

The petitioners are represented by Zachary I Shapiro, Esq., and
Russell C. Silberglied, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware.

The Debtor consented on Nov. 8, 2013, to being in Chapter 11
reorganization.

FrankGecker LLP represents the Debtor in its restructuring
effort.


SIAG AERISYN: $2.6MM Clawback Suit Against SSAB Goes to Trial
-------------------------------------------------------------
The avoidance action filed by the trustee for SIAG Aerisyn, LLC
against SSAB Enterprises, LLC will proceed to trial after
Bankruptcy Judge Shelleyn D. Rucker tossed the defendant's motion
for partial summary judgment.

The Trustee seeks to avoid $2,598,921.90 in transfers made by the
Debtor to SSAB pursuant to 11 U.S.C. Sec. 550(a).

SSAB seeks partial summary judgment regarding whether the amount
of $9,901,399 provided to the Debtor by an affiliated company,
SIAG Schaaf Industrie AG, constituted a loan that was debt the
Debtor owed or constituted equity that affected the Debtor's
solvency for bankruptcy purposes.

The adversary proceeding was originally filed by the Debtor.  The
Court substituted the trustee, James R. Paris, as plaintiff by
agreed order on August 14, 2013.

The Complaint asserts that the Debtor made transfers of property
to SSAB in the form of payments within the ninety-day period of
the filing of the Debtor's bankruptcy petition. The Complaint
further contends that the payments were made to SSAB as a creditor
for or on account of an antecedent debt and that the payments
allowed SSAB to receive more than it would have received if the
case were a Chapter 7 bankruptcy case. The Trustee further alleges
that the Debtor was insolvent at the time of the transfer.

The Trustee argues that the Debtor had a contract with REpower
Systems AG dated December 1, 2011, and that under that contract,
REpower advanced SIAG $8.3 million.  However, the Debtor only
acknowledged $2 million of the $8.3 million owed to REpower in its
bankruptcy schedules.  Therefore, the Trustee contends that even
if the $9.9 million advance from SIAG Schaaf was an equity
investment, SIAG was still insolvent due to another $6.3 million
in liabilities that were unaccounted for in its bankruptcy
schedules.

SSAB has made clear that its motion for partial summary judgment
does not address the alleged REpower debt.

According to Judge Rucker, genuine issues of material fact remain
regarding whether the approximately $9.9 million in advances
provided by SIAG Schaaf to the Debtor constituted loans or equity
investments for purposes of the insolvency analysis relating to
the Trustee's preference claim pursuant to 11 U.S.C. Sec. 547(b).
Therefore, SSAB's motion for partial summary judgment will be
denied.

The case is, JAMES R. PARIS, Trustee, Plaintiff, v. SSAB
ENTERPRISES, LLC, Defendant, Adv. Proc. No. 13-1040 (Bankr. E.D.
Tenn.).  A copy of the Court's November 3, 2014 Memorandum is
available at http://bit.ly/10Tq70xfrom Leagle.com.

                        About SIAG Aerisyn

SIAG Aerisyn LLC, aka Aerisyn LLC, filed a Chapter 11 petition
(Bankr. E.D. Tenn. Case No. 12-11705) on April 2, 2012, in its
hometown in Chattanooga, Tennessee.  The Debtor manufactures wind
towers essential for wind turbines as alternative energy sources.
The plant is located in Chattanooga, employing roughly 84 persons.

Judge Shelley D. Rucker presides over the case.  Samples,
Jennings, Ray & Clem, PLLC, serves as the Debtor's Chapter 11
counsel.  Wormser, Kiely, Galef & Jacobs, LLP, serves as special
counsel.  Jerome Luggen of Cincinnati Industrial Auctioneers,
Inc., was tapped as appraiser of the Debtor's equipment.  The
Debtor estimated up to $50 million in assets and debts.

In its schedules, the Debtor disclosed $18,728,994 in total assets
and $24,261,855 in total liabilities.

As reported by the Troubled Company Reporter on July 9, 2013, at
the Debtor's behes, the Bankruptcy Court converted the Debtor's
Chapter 11 case to one under Chapter 7 of the Bankruptcy Code.


SIGA TECHNOLOGIES: Posts $240,076,761 Net Loss for Sept. 30 Qtr
---------------------------------------------------------------
SIGA Technologies, Inc. filed with the Securities and Exchange
Commission its report on Form 10-Q for the quarterly period ended
September 30, 2014.

SIGA listed total assets of $164,715,384 against total liabilities
of $392,691,893 at Sept. 30, 2014.  Total stockholders' deficit is
$227,976,509.

SIGA said revenues from research and development is $1,099,429 for
the three months ended Sept. 30, 2014, compared to $2,292,143 for
the same period in 2013.  Revenues were $2,299,456 for the nine
months ended, compared to $4,585,174 for the same period last
year.

SIGA posted a net and comprehensive loss of $240,076,761 for the
three months ended Sept. 30, 2014, compared to $4,901,976 for the
same period in 2013.  Net and comprehensive loss of $246,406,883
for the nine months ended Sept. 30, 2014, compared to $12,838,876
for the same period in 2013.

A copy of the Form 10-Q Report is available at
http://1.usa.gov/1xeFGfi

The Company commenced the chapter 11 case to preserve and to
assure its ability to satisfy its commitments under the Biomedical
Advanced Research and Development Authority Contract and to
preserve its operations, which would have likely been jeopardized
by the enforcement of a judgment stemming from the pending
litigation with PharmAthene, Inc.  The chapter 11 filing will
allow the Company to continue to perform under the BARDA Contract,
and to pursue what it believes is a meritorious appeal of the
pending Delaware Chancery Court proceeding, without the necessity
of posting a bond.

On August 8, 2014, the Delaware Court of Chancery issued its
Remand Opinion and related order in the litigation initiated
against the Company in 2006 by PharmAthene, Inc. In the Remand
Opinion, the Court of Chancery determined, among other things,
that PharmAthene is entitled to a lump sum damages award in an as
yet unspecified amount, with interest and fees, based on United
States government purchases of the Company's smallpox drug
allegedly anticipated as of December 2006. The amount of the total
judgment to be decreed by the Court of Chancery is expected to be
substantial, and enforcement of that judgment by PharmAthene would
have jeopardized the Company's viability and ability to produce
and deliver Tecovirimat and to continue research and development
activities for Tecovirimat. The chapter 11 case prevents
PharmAthene from taking any enforcement action at this time and
also will permit the Company's intended appeal of the Remand
Opinion to go forward without the need to post a bond.

On September 17, 2014, the Company received Bankruptcy Court
approval of certain "first-day" motions which preserve the
Company's ability to continue operations without interruption in
chapter 11. As part of the "first-day" motions, the Company
received approval to pay or otherwise honor certain pre-petition
obligations generally designed to support the Company's
operations. Additionally, the Bankruptcy Court confirmed the
Company's authority to pay for goods and services received post-
petition in the ordinary course of business.

As part of the chapter 11 case, the Company has retained, pursuant
to Bankruptcy Court approval, legal and financial professionals to
advise the Company in connection with the administration of its
chapter 11 case and its litigation with PharmAthene, and certain
other professionals to provide services and advice in the ordinary
course of business.  From time to time, the Company may seek
Bankruptcy Court approval to retain additional professionals.

In October, the U.S. Trustee for the Southern District of New York
appointed an official committee of unsecured creditors.  The UCC
has a right to be heard on all matters affecting the Company that
come before the Bankruptcy Court.  There can be no assurance that
the UCC will support the Company?s positions on matters to be
presented to the Bankruptcy Court in the future or on any plan of
reorganization, once proposed.

The Company has not yet prepared or filed a plan of reorganization
with the Bankruptcy Court. The Company has the exclusive right to
file a plan of reorganization through and including January 14,
2015, and to solicit votes on such a plan if filed by such date
through and including March 16, 2015, subject to the ability of
parties in interest to file motions seeking to terminate the
Company's exclusive periods, as well as the Company's right to
seek further extensions of such periods.

The Company has the right to seek further extensions of such
exclusive periods, subject to the statutory limit of 18 months
from the Petition Date in the case of filing a plan and 20 months
in the case of soliciting and obtaining acceptances of such a
plan. Implementation of a plan of reorganization is subject to
confirmation of the plan by the Bankruptcy Court in accordance
with the provisions of the Bankruptcy Code, and the occurrence of
the effective date under the plan. At this time, there is no
certainty as to when or if a plan will be filed, the provisions of
a plan, or whether a plan will be confirmed and consummated.

                   About SIGA Technologies

Publicly held SIGA Technologies, Inc., with headquarters in
Madison Avenue, New York, is a biotech/pharmaceutical company that
specializes in the development and commercialization of solutions
for serious unmet medical needs and biothreats.  SIGA's lead
product is Tecovirimat, also known as ST-246, an orally
administered antiviral drug that targets orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

According to the docket, the schedules of assets and liabilities
and the statement of financial affairs are due Sept. 30, 2014.
The Debtor's Chapter 11 plan and disclosure statement are due Jan.
14, 2015.  The initial case conference is due by Oct. 16, 2014.

As of June 30, 2014, SIGA reported consolidated assets and
liabilities of $209 million and $198 million, respectively. The
amount of reported liabilities does not include any amount
attributable to the lawsuit filed by PharmAthene, Inc.  A total of
$2.50 million is outstanding on a secured term loan with General
Electric Capital Corp.  Trade payables total $3.3 million.


SIGA TECHNOLOGIES: Stipulation on Cash Use Has Final Approval
-------------------------------------------------------------
The U.S. Bankruptcy Court on September 17, 2014, approved on an
interim basis a Stipulation and Order between SIGA Technologies,
Inc. and General Electric Capital Corporation, in its capacity as
Agent for the lenders under the loan agreement dated December 31,
2012, in connection with the chapter 11 case. The Loan Agreement,
consisting of a term loan and revolving line of credit, is a fully
secured loan facility.

As of the Petition Date, $2.5 million of the term loan was
outstanding and no amount was borrowed or outstanding against the
revolving line of credit.

Pursuant to the Stipulation and Order:

     -- The Company can continue to use cash as to which the Agent
has a lien;

     -- The Company will continue to make its regularly scheduled
interest (at the non-default rate) and amortization payments on
the term loan under the Loan Agreement;

     -- The revolving loan commitment under the Loan Agreement, as
to which no borrowings are outstanding, was terminated;

     -- The Company paid $70,000 to GE in full satisfaction of all
amounts payable under the Loan Agreement in connection with the
termination of the revolving loan commitment;

     -- The Company will maintain a minimum balance of $4 million
in a specified account as collateral for the obligations under the
Loan Agreement; and

     -- The Company and GE reserve their respective rights as
whether interest at the default rate is payable, and if it is
determined that it is payable, such amount, less the $70,000
referred to above, shall be added to the amount of the obligations
under the Loan Agreement.

The Stipulation and Order was approved by the Bankruptcy Court on
a final basis on October 28, 2014.  The Company has set aside, in
a separate account, $4 million as collateral for obligations under
the Loan Agreement and classified this amount as restricted cash
on its balance sheet.

As long as the Stipulation and Order is in effect, GE has agreed
to not seek to take any action to accelerate payment under the
Loan Agreement or exercise any remedies. The GE loan is considered
fully secured and is not reported as liabilities subject to
compromise.

                   About SIGA Technologies

Publicly held SIGA Technologies, Inc., with headquarters in
Madison Avenue, New York, is a biotech/pharmaceutical company that
specializes in the development and commercialization of solutions
for serious unmet medical needs and biothreats.  SIGA's lead
product is Tecovirimat, also known as ST-246, an orally
administered antiviral drug that targets orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

According to the docket, the schedules of assets and liabilities
and the statement of financial affairs are due Sept. 30, 2014.
The Debtor's Chapter 11 plan and disclosure statement are due Jan.
14, 2015.  The initial case conference is due by Oct. 16, 2014.

As of June 30, 2014, SIGA reported consolidated assets and
liabilities of $209 million and $198 million, respectively. The
amount of reported liabilities does not include any amount
attributable to the lawsuit filed by PharmAthene, Inc.  A total of
$2.50 million is outstanding on a secured term loan with General
Electric Capital Corp.  Trade payables total $3.3 million.


SIMON WORLDWIDE: Three Lions to Voluntarily Liquidate
-----------------------------------------------------
The executive board of Three Lions Entertainment, LLC, considered
and unanimously voted to approve a plan proposed by Three Lions'
management, with the assistance of its advisors, to proceed with
the voluntary liquidation and dissolution of Three Lions in
accordance with Delaware law, according to a regulatory filing
with the U.S. Securities and Exchange Commission.  In a meeting
held on Oct. 27, 2014, the executive board concluded that Three
Lions would not have adequate funds to continue to operate.

Three Lions is a variable interest entity in which Simon
Worldwide, Inc., holds membership units representing a 60%
economic interest, but which does not provide the Company the
ability to exercise control.

"Due to a confluence of a number of adverse factors, but in
particular, a ratings performance well below expectations on Three
Lion's initial Fashion RocksTM broadcast on Sept. 9, 2014, and the
resultant decision to cancel further production on other projects,
Three Lions recorded unanticipated losses," the filing stated.


The executive board also voted to appoint Three Lions' Chief
Operating Officer and Chief Financial Officer, Stacey Bain, as the
liquidating trustee for Three Lions.

The Company currently estimates that it will incur charges and
expenses in connection with the liquidation and dissolution of
Three Lions of approximately $220,000, including a $199,583 charge
pursuant to the cash collateralized bank letter of credit that the
Company provided to support payments on an office lease obtained
by Three Lions, and additional legal and other professional fees
and associated costs estimated to total approximately $20,000.
The Company expects to write off the value of its investment in
Three Lions on its financial statements for the quarter ended
Sept. 30, 2014, which will be filed with the Company's Quarterly
Report on Form 10-Q for said quarter, because the Company's share
of Three Lions' operating losses for the quarter ended Sept. 30,
2014, is expected to exceed the $4,308,000 carrying value of that
investment as of June 30, 2014.

The Company is party to a Pledge Agreement with SunTrust Bank
pursuant to which the Company pledged all of its equity interests
in Three Lions and any and all proceeds therefrom, to SunTrust as
security for Three Lions' obligations under its credit facility
with SunTrust.  The Pledge Agreement provides, among other things,
that upon an event of default under the SunTrust credit agreement,
SunTrust would be entitled to exercise all voting and other rights
with respect to the Pledged Securities and to foreclose on the
Pledged Securities.  The Company does not know what, if any,
actions SunTrust may seek to take against the Pledged Securities
or the Company.  The Pledge Agreement expressly provides that
SunTrust will not have any claim, remedy or right to proceed
against the Company for any deficiency in payment or performance
of the obligations under the SunTrust credit agreement, from any
source other than the Pledged Securities pledged by the Pledge
Agreement.  The Company does not expect to receive any amounts in
respect of the Pledged Securities from a liquidation of Three
Lions regardless of whether SunTrust elects to foreclose on the
Pledged Securities or not, as the proposed liquidation plan does
not provide for any distributions to be made to the equity holders
in respect of their equity interests in Three Lions.

The Company believes that the liquidation of Three Lions will have
a material adverse effect on the Company, its financial condition
and results of operations.  Since its initial investment in Three
Lions in March 2013, the Company's business has substantially
consisted of acting as the majority equity holder of, and holding
a membership interest in, Three Lions.  Accordingly, the
Company's results of operations and financial condition depend on
the successful operations of Three Lions.  The Company warns that
to the extent that the Company is unable to identify and obtain an
alternate source of funds, it may itself be forced to liquidate.
However, management believes it has sufficient capital resources
and liquidity to operate the Company for at least another 12
months.

The Company's Board of Directors has instructed management to
explore all possible strategic options for the Company to secure
additional financing or an operating business, however, there can
be no assurances whatsoever that the Company will be able to
identify a viable strategic option to enable it to continue
operations.

                      About Simon Worldwide

Based in Los Angeles, Simon Worldwide, Inc. (OTC: SWWI) no longer
has any operating business.  Prior to August 2001, the Company
operated as a multi-national full-service promotional marketing
company, specializing in the design and development of high-impact
promotional products and sales promotions.  At Dec. 31, 2009,
the Company held an investment in Yucaipa AEC Associates, LLC, a
limited liability company that is controlled by the Yucaipa
Companies, a Los Angeles, California based investment firm.
Yucaipa AEC in turn principally held an investment in the common
stock of Source Interlink Companies, a direct-to-retail magazine
distribution and fulfillment company in North America, and a
provider of magazine information and front-end management services
for retailers and a publisher of approximately 75 magazine titles.
Yucaipa AEC held this investment in Source until April 28, 2009,
when Source filed a pre-packaged plan of reorganization under
Chapter 11 of the U.S. Bankruptcy Code.

Simon Worldwide reported a net loss of $3.63 million on $0 of
revenue for the year ended Dec. 31, 2013, as compared with a net
loss of $1.52 million on $0 of revenue for the year ended Dec. 31,
2012.  The Company incurred a net loss of $1.97 million on $0
revenue in 2011.

As of June 30, 2014, the Company had $6.15 million in total
assets, $64,000 in total liabilities and $6.08 million in ttoal
stockholders' equity.


SKYLINE MANOR: Gets 7th Interim Approval on Cash Collateral Use
---------------------------------------------------------------
The Bankruptcy Court authorized, in a seventh interim order, Ron
Ross, as Chapter 11 trustee for Skyline Manor, Inc., to use cash
collateral in which Oxford Finance LLC asserts an interest.

The trustee's use of cash collateral to operate the healthcare
facility is retroactive from Sept. 2, 2014, through the earlier of
(i) Oct. 21, 2014, (ii) the date the trustee's right to use cash
collateral terminates, or (iii) the entry of a final order
authorizing the use of cash collateral.

As reported in the TCR on Sept. 11, 2014, Oxford expressed its
consent to the use of cash collateral.  Oxford made certain loans
and other financial accommodations available to the Debtor.  It
asserts that the loans are secured by first priority liens on and
security interests in all of the Debtor's property.  Hence,
proceeds of Oxford's loan and the proceeds received therefrom are
deemed as cash collateral.

                       About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor disclosed $19,892,926 in assets and $13,732,877 in
liabilities as of the Chapter 11 filing.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.


SON P. DANG: Wrongful Foreclosure Suit Dismissed
------------------------------------------------
District Judge Ronald M. Whyte granted the defendants' motion to
dismiss the First Amended Complaint in the wrongful foreclosure
suit filed by Son P. Dang.  A separate motion for sanctions is
denied.

The First Amended Complaint alleges wrongful foreclosure, slander
of title, violation of California Civil Code Sec. 2923.5,
Violation of 12 U.S.C. Sec. 2605, and violations of California
Business and Professions Code Sec. 17200 et seq.

The Defendants said the First Amended Complaint fails to state a
claim upon which relief can be granted under Fed. R. Civ. Proc.
12(b)(6).

Dang borrowed $670,000 from First Magnus Financial Corporation in
2007 to purchase property in San Jose.  First Magnus filed for
Chapter 11 bankruptcy in August 2007.  The deed of trust was later
transferred to the defendants.

On July 11, 2013, Dang filed a Chapter 13 bankruptcy petition.  It
was closed on September 18, 2013 after Dang failed to file
required documents.

On May 6, 2014, Dang filed a second Chapter 13 bankruptcy
petition, which is currently pending.  That bankruptcy has been
converted to a Chapter 11 bankruptcy.

The lawsuit is captioned as SON P. DANG, Plaintiff, v. RESIDENTIAL
CREDIT SOLUTIONS, INC.; JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
(fka EMC MORTGAGE, LLC); J.P. MORGAN MORTGAGE ACQUISITION CORP.;
MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC.; and DOES 1 through
20, inclusive, Defendants, Case No. C-14-02587-RMW (N.D. Cal.).  A
copy of the Court's October 31, 2014 Order is available at
http://bit.ly/1x2250Tfrom Leagle.com.


THEOBLOCK S.A.: Foreclosure Sale Set for Dec. 5
-----------------------------------------------
Pursuant to a Judgment of Foreclosure and Sale dated December 13,
2013 and entered on December 19, 2013, Nora Constance Marino,
Esq., as Referee, will sell at public auction at the Queens County
Supreme Courthouse, 88-11 Sutphin Blvd., in Courtroom #25,
Jamaica, NY on December 5, 2014 at 10:00 a.m. the premises known
as NO # 149TH AVENUE, QUEENS, NY.

The Judgment of Foreclosure was issued in the case, NYCTL 1998-2
TRUST AND THE BANK OF NEW YORK MELLON, AS COLLATERAL AGENT AND
CUSTODIAN for the NYCTL 1998-2 TRUST, Plaintiff against THEOBLOCK
S.A. LTD., et al Defendant(s) in Supreme Court, County of Queens.

The approximate amount of lien is $8,761 plus interest & costs.

The Plaintiff is represented in the case by the Referee:

     Nora Constance Marino, Esq.
     ROSENBERG & ESTIS, P.C.
     733 Third Ave., 14th Flr
     New York, NY 10017


THOMAS JEFFERSON SCHOOL: S&P Cuts Rating on 2008A Bonds to 'D'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'D' from 'CC' and removed the rating from CreditWatch with
negative implications on the California Statewide Communities
Development Authority's series 2008A tax-exempt revenue bonds and
series 2008B taxable revenue bonds issued for Thomas Jefferson
School of Law (TJSL).

"TJSL did not pay bondholders in full, as revealed in the
trustee's Sept. 29, 2014, posting to EMMA," said Standard & Poor's
credit analyst Carlotta Mills.

According to S&P's criteria and rating definitions, an issue
rating is lowered to 'D' "when payments on an obligation are not
made on the date due."


TIBCO SOFTWARE: S&P Assigns Prelim. 'B-' CCR; Outlook Stable
------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
preliminary 'B-' corporate credit rating to Palo Alto, Calif.-
based TIBCO Software Inc.  The outlook is stable.

At the same time, S&P assigned its preliminary 'B-' issue-level
rating and preliminary '3' recovery rating to the company's
proposed $1.65 billion senior secured first-lien term loan due
2020 and $125 million revolving credit facility due 2019.  The
preliminary '3' recovery rating indicates S&P's expectation for
meaningful recovery (50%-70%; at the lower end of the range) in
the event of payment default.

S&P also assigned its preliminary 'CCC' issue-level rating and
preliminary '6' recovery rating the company's proposed $950
million senior unsecured notes due 2021.  The preliminary '6'
recovery rating indicates S&P's expectation for negligible
recovery (0%-10%) in the event of payment default.

Balboa Merger Sub Inc. will be the initial borrower of the debt.
Once the acquisition is completed, Balboa will merge into TIBCO,
and TIBCO will be the borrower going forward.  S&P will finalize
its preliminary ratings following a review of the executed closing
documents.

The rating on TIBCO reflects S&P's adjusted leverage of almost 11x
(pro forma for the proposed transaction, excluding the asset sale
bridge facility and cost saving adjustments), the transition risk
associated with TIBCO's aggressive cost reduction plan, and the
company's recent slowing revenue growth.  Partially offsetting
these factors are significant cost saving opportunities that could
result in adjusted leverage near 8x over the next 12 months--if
the company manages transition risk effectively--and its
established positions in the IT integration and analytics software
markets.

"The stable outlook reflects our view that TIBCO's cost saving
opportunities and adequate liquidity are likely to mitigate
unplanned business disruption from its cost restructuring
activities, such that the company is likely to meet its debt
service obligations over the next 12 months," said Standard &
Poor's credit analyst Christian Frank.

S&P could lower the rating if the expected headquarters sale-
leaseback transaction is not on track to be completed before the
asset sale bridge loan's maturity; if disruption from transition
activities causes licenses and professional services sales to
decline more than S&P expects, resulting in negative FOCF on a
sustained basis; or if financial covenants restrict access to
revolver borrowings such that S&P views the company's liquidity as
less than adequate.

S&P could raise the rating if the company generates consistent
license sales and implements material cost reductions such that it
records sustained leverage below 8x.


TRUMP ENTERTAINMENT: Bankruptcy Hearing in Name Fight Postponed
---------------------------------------------------------------
The Associated Press reported that attorneys have postponed a
Delaware bankruptcy court hearing over Donald Trump's fight to
remove his name from a struggling New Jersey casino.  According to
the report, the casino operator is fighting Mr. Trump's demand
that the Trump name come off the Taj Mahal casino in Atlantic
City, saying it can't afford the expense or distraction of the
state lawsuit as it tries to save the Taj Mahal.  The hearing was
postponed until Nov. 24.

                About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Gets Final OK to Fund Case With Icahn Cash
---------------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross in Wilmington, Del., gave Trump
Entertainment Resorts Inc. final authority to use cash collateral
securing its prepetition indebtedness, various news sources
reported.

According to Law360, the cash collateral order was signed after
the casino operator resolved issues from unsecured creditors who
worried it might dash any hope of a recovery.  The right to use
cash ends on Dec. 31, absent a new agreement, Bill Rochelle and
Sherri Toub, bankruptcy columnists for Bloomberg News, reported.

                About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Disclosure Statement Hearing Set for Nov. 14
-----------------------------------------------------------------
The U.S. Bankruptcy Court in Delaware is set to hold a hearing on
Nov. 14 to consider approval of the outlines of Trump
Entertainment Resorts Inc.'s plan to exit Chapter 11 protection.

Judge Kevin Gross earlier refused to sign off on the disclosure
statement outlining the company's restructuring plan.  At a
hearing on Nov. 5, the bankruptcy judge reportedly told Trump to
come back next week with a firmer vision for the company's future.

Last week, Trump's official committee of unsecured creditors
objected to the disclosure statement, saying it was a "complete
waste of time" and that the only creditors deemed able to vote are
the company's secured lenders controlled by billionaire investor
Carl Icahn who is already dictating the terms of the plan.

The committee also said Trump appears as if it will press forward
to confirmation so to preserve hundreds of millions of dollars in
tax credits for Mr. Icahn's benefit.

The disclosure statement also drew flak from Atlantic City, Trump
AC Casino Marks LLC and Levine, Staller, Sklar, Chan & Brown, P.A.

The city complained the disclosure statement doesn't address
Trump's unpaid taxes while the two other creditors complained the
company only disclosed little information regarding their claims
and how they will get paid.

                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.


TSC SIEBER: 5th Cir. Vacates Ruling on $345,000 in Funds
--------------------------------------------------------
The U.S. Court of Appeals for the Fifth Circuit directed a
district court to redo its judgment that affirmed a bankruptcy
court order holding that more than $345,000 in funds were part of
the bankruptcy estate of debtor T.S.C. Sieber Services L.C.

Holt Texas, Ltd., and Transamerica Underground Limited,
subcontractors of T.S.C. Seiber, took an appeal from the September
24, 2013, district court judgment affirming the bankruptcy court
order.

The district court held that funds of an interpleader action,
filed by EnCana Oil & Gas (USA) Inc., were property not of EnCana,
but property of the bankruptcy estate of Seiber because the
interpleader action extinguished the earlier construction liens of
Holt and TAUG.

On appeal they challenge the district and bankruptcy courts'
reasoning and conclusions that: (1) the Texas Construction Trust
Funds Act did not apply, because EnCana's deposit of the funds was
not a qualifying payment triggering creation of a trust fund; and
(2) Appellants did not have valid, perfected mineral liens under
chapter 56 of the Texas Property Code.

"We consider Appellants' contentions de novo and, for the reasons
that follow, we vacate the district court's judgment and remand
for further proceedings not inconsistent with this opinion," the
Fifth Circuit said in a November 3, 2014 decision available at
http://bit.ly/1vG11Kqfrom Leagle.com.

The appellate case is, HOLT TEXAS, LIMITED, doing business as Holt
Cat; TRANSAMERICAN, UNDERGROUND, LIMITED, Appellants, v. STEPHEN
J. ZAYLER, Appellee, No. 13-41153 (5th Cir.).

Circuit Judge E. Grady Jolly wrote the opinion.

TSC Sieber Services, LC, filed a Chapter 11 voluntary petition
(Bankr. E.D. Tex. Case No. 09-61042) on Oct. 17, 2009.  The case
was subsequently converted to Chapter 7 on Nov. 2, 2009, and
Stephen J. Zayler was appointed as the Chapter 7 Trustee.  The
Debtor was primarily engaged in the business of pipeline
construction.  The Debtor eventually conducted its operations from
three locations -- Arp, Texas, Millsap, Texas, and Keithville,
Louisiana.


TW TELECOM: S&P Lowers CCR to 'BB-' & Removes From Watch
--------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its ratings on
Littleton, Colo.-based TW Telecom Inc., including the corporate
credit rating to 'BB-' from 'BB', and removed all ratings from
CreditWatch, where S&P had placed them with negative implications
on June 16, 2014.  The outlook is stable.  At the same time, S&P
withdrew the 'BB+' issue-level rating on the company's senior
secured credit facilities because this debt was paid off at the
close of the acquisition.

"The rating actions reflect the close of the acquisition of TW
Telecom by Level 3 Communications Inc. (the corporate credit
rating on which we raised today to 'BB-' from 'B+')," said
Standard & Poor's credit analyst Catherine Cosentino.

"We equalized the corporate credit rating on TW Telecom with that
on Level 3 since we consider TW Telecom to be a core subsidiary of
Level 3 because TW Telecom's assets will be integrated into, and
expand, Level 3's network reach.  While the secured credit
facilities were repaid at close of the transaction, TW Telecom's
unsecured debt is scheduled to be redeemed by Level 3 on Nov. 30,
2014, at which time we will withdraw the corporate credit rating
on TW Telecom and the issue-level ratings on its unsecured notes,"
S&P noted.


U.S. COAL: Add'l Debtors to Have Same Advisors
----------------------------------------------
Harlan County Mining, LLC, Oak Hill Coal, Inc., Sandlick Coal
Company, LLC, and U.S. Coal Marketing, LLC, as debtors and debtors
in possession -- Additional Debtors -- filed applications or
motions seeking approval to employ, effective as of the
commencement of their bankruptcy cases:

   -- Nixon Peabody LLP as their bankruptcy counsel;

   -- DelCotto Law Group PLLC as their general local bankruptcy
counsel;

   -- GlassRatner Advisory & Capital Group as their financial
advisor;

   -- John J. Brogan, JD, CPA d/b/a Brogantax as their consultant
to advise them regarding tax planning in connection with net
operating loss carryovers and emergence from bankruptcy; and

   -- Epiq Bankruptcy Solutions, LLC, as claims, noticing, and
balloting agent.

The affiliated-debtors who were earlier sent to Chapter 11
bankruptcy have previously obtained approval to hire Nixon
Peabody, et al.  The Court entered its final order granting the
applications of LR Mining, LRR, Fox Knob, SM&J, and JAD
(collectively, referred as "Subsidiary Debtors") granting the
applications to tap Nixon Peabody and GlassRatner Advisory &
Capital Group on a final basis on July 11, 2014.  The Court on
June 16, 2014, granted the original application to employ Epiq as
claims agent.  The Subsidiary Debtors and U.S. Coal won final
approval to employ DelCotto Law Group on July 14, 2014.  The Court
on Aug. 20, 2014, entered an order approving the Debtors' original
application to employ Mr. Brogan.

By the new motions, the Debtors are simply seeking to employ Nixon
Peabody, et al., to represent the Additional Debtors as well.
Copies of the Additional Debtors' applications are available for
free at:

         http://bankrupt.com/misc/US_Coal_AD_Brogan.pdf
         http://bankrupt.com/misc/US_Coal_AD_Delcotto.pdf
         http://bankrupt.com/misc/US_Coal_AD_Epiq.pdf
         http://bankrupt.com/misc/US_Coal_AD_Glassratner.pdf
         http://bankrupt.com/misc/US_Coal_AD_Nixon.pdf

                About U.S. Coal and Licking River

On May 22, 2014, an involuntary Chapter 11 petition was filed
against Licking River Mining, LLC, before the United States
Bankruptcy Court for the Eastern District of Kentucky.  On May 23,
2014, an involuntary Chapter 11 petition was filed against Licking
River Resources, Inc. and Fox Knob Coal., Inc.  On June 3, 2014,
an involuntary Chapter 11 petition was filed against S.M. & J.,
Inc. On June 4, 2014, an involuntary Chapter 11 petition was filed
against J.A.D. Coal Company, Inc.  On June 12, 2014, the Court
entered an order for relief in each of the bankruptcy cases.

On June 10, 2014, an involuntary Chapter 11 petition was filed
against U.S. Coal Corporation.  On June 27, 2014, the Court
entered an order for relief in U.S. Coal's bankruptcy case.

On Nov. 4, 2014, Harlan County Mining, LLC, Oak Hill Coal, Inc.,
Sandlick Coal Company, LLC, and U.S. Coal Marketing, LLC, filed
petitions in the United States Bankruptcy Court for the Eastern
District of Kentucky seeking relief under chapter 11 of the United
States Bankruptcy Code.  The Debtors' cases have been assigned to
Chief Judge Tracey N. Wise.  The Debtors are seeking to have their
cases jointly administered for procedural purposes, meaning that
upon entry of such an order all pleadings will be maintained on
the case docket for Licking River Mining, LLC, Case No. 14-10201.

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1)
the Licking River Division that was formed through the acquisition
of LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in
January 2007 for $33 million., and (2) the J.A.D. Division that
was formed through the acquisition of JAD and Fox Knob, and
Sandlick Coal Company, LLC and Harlan County Mining, LLC in April
2008 for $41 million.  Both the LRR Division and the JAD Division
are located in the Central Appalachia region of eastern Kentucky.
The LRR Division has approximately 26.3 million tons of surface
reserves under lease.  The JAD Division has 24.4 million tons of
surface reserves, both leased and owned real property.  At
present, U.S. Coal has three surface mines in operation between
the LRR Division and JAD Division.

The Official Committee of Unsecured Creditors has tapped Barber
Law PLLC and Foley & Lardner as attorneys.


U.S. COAL: JAD Gets Access to Lenders' Collateral Until January
---------------------------------------------------------------
J.A.D. Coal Company, Inc., and Fox Knob Coal Co., Inc., have
obtained consent from their secured creditors, namely the estate
of Aubra Paul Dean, Carl E. McAfee and Julia McAfee, to continue
using collateral until Jan. 31, 2015.

The Adequate Protection Order entered by the Court on Aug. 20,
2014, provided the JAD Lenders would receive adequate protection
payments of $25,000 per month beginning July 15, 2014 through Oct.
31, 2014.  The First Amended Agreed Order and Joint Stipulation
signed by the parties provides that as adequate protection of the
JAD Lenders' asserted security interests in the Collateral, the
Debtors are authorized to make monthly payments of $25,000 on the
15th of each month to the JAD Lenders for each month from and
including Nov. 1, 2014 through and including Jan. 31, 2015.

The JAD Lenders are represented by:

         Gregory D. Pavey, Esq.
         STOLL KEENON OGDEN PLLC
         Joseph M. Scott, Jr., Esq.
         300 West Vine Street, Suite 2100
         Lexington, KY 40507
         Tel: (859) 231-3000
         Fax: (859) 253-1900
         E-mail: joseph.scott@skofirm.com
                 gregory.pavey@skofirm.com

                About U.S. Coal and Licking River

On May 22, 2014, an involuntary Chapter 11 petition was filed
against Licking River Mining, LLC, before the United States
Bankruptcy Court for the Eastern District of Kentucky.  On May 23,
2014, an involuntary Chapter 11 petition was filed against Licking
River Resources, Inc. and Fox Knob Coal., Inc.  On June 3, 2014,
an involuntary Chapter 11 petition was filed against S.M. & J.,
Inc. On June 4, 2014, an involuntary Chapter 11 petition was filed
against J.A.D. Coal Company, Inc.  On June 12, 2014, the Court
entered an order for relief in each of the bankruptcy cases.

On June 10, 2014, an involuntary Chapter 11 petition was filed
against U.S. Coal Corporation.  On June 27, 2014, the Court
entered an order for relief in U.S. Coal's bankruptcy case.

On Nov. 4, 2014, Harlan County Mining, LLC, Oak Hill Coal, Inc.,
Sandlick Coal Company, LLC, and U.S. Coal Marketing, LLC, filed
petitions in the United States Bankruptcy Court for the Eastern
District of Kentucky seeking relief under chapter 11 of the United
States Bankruptcy Code.  The Debtors' cases have been assigned to
Chief Judge Tracey N. Wise.  The Debtors are seeking to have their
cases jointly administered for procedural purposes, meaning that
upon entry of such an order all pleadings will be maintained on
the case docket for Licking River Mining, LLC, Case No. 14-10201.

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1)
the Licking River Division that was formed through the acquisition
of LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in
January 2007 for $33 million., and (2) the J.A.D. Division that
was formed through the acquisition of JAD and Fox Knob, and
Sandlick Coal Company, LLC and Harlan County Mining, LLC in April
2008 for $41 million.  Both the LRR Division and the JAD Division
are located in the Central Appalachia region of eastern Kentucky.
The LRR Division has approximately 26.3 million tons of surface
reserves under lease.  The JAD Division has 24.4 million tons of
surface reserves, both leased and owned real property.  At
present, U.S. Coal has three surface mines in operation between
the LRR Division and JAD Division.

The Debtors have tapped Nixon Peabody LLP as bankruptcy counsel,
DelCotto Law Group PLLC as local counsel, GlassRatner Advisory &
Capital Group as financial advisor, John J. Brogan, JD as tax
consultant, and Epiq Bankruptcy Solutions LLC as claims agent.
The Official Committee of Unsecured Creditors has tapped Barber
Law PLLC and Foley & Lardner as attorneys.


U.S. COAL: JAD Access to Caterpillar Collateral Extended
--------------------------------------------------------
Debtors J.A.D. Coal Company, Inc. and Licking River Resources,
Inc., along with the Official Committee of Unsecured Creditors,
have signed a stipulation extending the Debtors' adequate
protection payments to Caterpillar Financial Services Corporation
until Jan. 31, 2015.

On Oct. 1, 2014, the Court approved a stipulation providing that
Caterpillar would receive adequate protection payments of
$27,795.34 per month from JAD and $130,007 per month from
Licking River, until Oct. 31, 2014.

JAD and Licking River continue to utilize their respective J.A.D.
Collateral1 and the Licking River Collateral and will continue to
do so beyond Oct. 31, 2014.

The parties agree that as adequate protection of Caterpillar's
asserted security interest in the J.A.D. Collateral, JAD is
authorized to make monthly payments of $27,795 to Caterpillar on
the 16th day of each month from Nov. 1, 2014 through and including
Jan. 31, 2015.  Licking River is authorized to make monthly
payments of $130,007 to Caterpillar on the 28th day of each month
from Nov. 1, 2014 through and including Jan. 31, 2015.  JAD's and
Licking River's obligations to make the monthly Adequate
Protection Payments to Caterpillar will automatically extend
beyond Jan. 31, 2015 without further action by the Parties, only
if: (a) the period of the Final Cash Collateral Order and any
related cash collateral Budgets is extended, renewed, or amended
beyond Jan. 31, 2015; and (b) such Budgets for any period beyond
Jan. 31, 2015 account for the payment of these Adequate Protection
Payments.

Caterpillar is represented by:

         WYATT, TARRANT & COMBS, LLP
         John P. Brice, Esq.
         250 West Main Street, Suite 1600
         Lexington, KY 40507-1746
         Telephone: (859) 233-2012
         Facsimile: (859) 259-0649
         E-mail: lexbankruptcy@wyattfirm.com

                About U.S. Coal and Licking River

On May 22, 2014, an involuntary Chapter 11 petition was filed
against Licking River Mining, LLC, before the United States
Bankruptcy Court for the Eastern District of Kentucky.  On May 23,
2014, an involuntary Chapter 11 petition was filed against Licking
River Resources, Inc. and Fox Knob Coal., Inc.  On June 3, 2014,
an involuntary Chapter 11 petition was filed against S.M. & J.,
Inc. On June 4, 2014, an involuntary Chapter 11 petition was filed
against J.A.D. Coal Company, Inc.  On June 12, 2014, the Court
entered an order for relief in each of the bankruptcy cases.

On June 10, 2014, an involuntary Chapter 11 petition was filed
against U.S. Coal Corporation.  On June 27, 2014, the Court
entered an order for relief in U.S. Coal's bankruptcy case.

On Nov. 4, 2014, Harlan County Mining, LLC, Oak Hill Coal, Inc.,
Sandlick Coal Company, LLC, and U.S. Coal Marketing, LLC, filed
petitions in the United States Bankruptcy Court for the Eastern
District of Kentucky seeking relief under chapter 11 of the United
States Bankruptcy Code.  The Debtors' cases have been assigned to
Chief Judge Tracey N. Wise.  The Debtors are seeking to have their
cases jointly administered for procedural purposes, meaning that
upon entry of such an order all pleadings will be maintained on
the case docket for Licking River Mining, LLC, Case No. 14-10201.

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1)
the Licking River Division that was formed through the acquisition
of LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in
January 2007 for $33 million., and (2) the J.A.D. Division that
was formed through the acquisition of JAD and Fox Knob, and
Sandlick Coal Company, LLC and Harlan County Mining, LLC in April
2008 for $41 million.  Both the LRR Division and the JAD Division
are located in the Central Appalachia region of eastern Kentucky.
The LRR Division has approximately 26.3 million tons of surface
reserves under lease.  The JAD Division has 24.4 million tons of
surface reserves, both leased and owned real property.  At
present, U.S. Coal has three surface mines in operation between
the LRR Division and JAD Division.

The Debtors have tapped Nixon Peabody LLP as bankruptcy counsel,
DelCotto Law Group PLLC as local counsel, GlassRatner Advisory &
Capital Group as financial advisor, John J. Brogan, JD as tax
consultant, and Epiq Bankruptcy Solutions LLC as claims agent.
The Official Committee of Unsecured Creditors has tapped Barber
Law PLLC and Foley & Lardner as attorneys.


UNITEK GLOBAL: Obtains Court Approval for First-Day Motions
-----------------------------------------------------------
UniTek Global Services, Inc., a provider of permanently outsourced
infrastructure services to the telecommunications, broadband
cable, wireless, transportation, public safety and satellite
television industries, announced today that it has received court
approval of its First-Day Motions at a hearing in the United
States Bankruptcy Court for the District of Delaware. The approval
of the Motions by the Bankruptcy Court completes an important step
toward implementation of the previously announced prepackaged
Chapter 11 Plan, which received unanimous support of the Company's
lenders.  It will help to ensure that UniTek's operations will
continue smoothly and that it will be business as usual.  The
Company is now scheduled for a hearing in early December to
approve its Restructuring Plan and to set an expedited schedule
for the Company's emergence from Chapter 11.

In addition, the Company has received interim approval for post-
petition financing, which will provide financing for working
capital and for general corporate purposes.

"We are pleased with the Court's prompt approval of our Motions,"
said Rocky Romanella, UniTek's Chief Executive Officer.  "The
Court's action ensures that we will be able to maintain regular
operations, while meeting our obligations to our suppliers and
serving our customers as we work to realign our capital structure
as expeditiously as possible."

                  About UniTek Global Services

UniTek Global Services, Inc., based in Blue Bell, Pennsylvania,
provides fulfillment and infrastructure services to media and
telecommunication companies in the United States and Canada.

UniTek Global reported a net loss of $52.07 million on $471.93
million of revenues for the year ended Dec. 31, 2013, as compared
with a net loss of $77.73 million on $437.59 million of revenues
in 2012.

The Company's balance sheet at March 29, 2014, showed $249.60
million in total assets, $257.33 million in total liabilities and
a $7.72 million total stockholders' deficit.

                        Bankruptcy Warning

"An event of default under either of our credit facilities could
result in, among other things, the acceleration and demand for
payment of all the principal and interest due and the foreclosure
on the collateral.  As a result of such a default or action
against collateral, we could be forced to enter into bankruptcy
proceedings, which may result in a partial or complete loss of
your investment," the Company said in its annual report for the
year ended Dec. 31, 2013.

                           *     *     *

As reported by the TCR on Oct. 17, 2013, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Blue Bell,
Pa.-based UniTek Global Services Inc. to 'B-' from 'CCC'.  "The
ratings upgrade to 'B-' reflects our belief that the company
is no longer vulnerable and dependent on favorable developments to
meet its financial commitments over the next few years," said
Standard & Poor's credit analyst Michael Weinstein.

The TCR reported on Oct. 10, 2014, that Moody's Investors Service
downgraded UniTek Global Services, Inc.'s corporate family rating
to Ca.  The Ca corporate family rating reflects Moody's view that
the forbearance agreement entered into with UniTek's lenders on
August 8th would be considered a default under Moody's definition.


UNITEK GLOBAL: New Mountain Puts First Lien on Non-Accrual Status
-----------------------------------------------------------------
As of September 30, 2014, New Mountain Finance Corporation placed
a portion of its first lien position in UniTek Global Services,
Inc. ("UniTek") on non-accrual status in anticipation of a
voluntary petition for a "Pre-Packaged" Chapter 11 Bankruptcy in
the U.S. Bankruptcy Court for the District of Delaware which was
filed on November 3, 2014.  As of September 30, 2014, the portion
of the UniTek first lien position placed on non-accrual status
represented an aggregate cost basis of $11.2 million and aggregate
fair value of $8.2 million, and was assigned an investment rating
of "4".  The remaining portion of the Company?s first lien and
warrants position in UniTek representing an aggregate cost basis
of $30.6 million and aggregate fair value of $21.9 million, was
assigned an investment rating of "3".

As of September 30, 2014, three portfolio companies (including
UniTek referenced above) had an investment rating of "3", with a
total cost basis of approximately $42.0 million and a fair value
of approximately $30.0 million.

As of September 30, 2014, two portfolio companies (including
UniTek referenced above) were on non-accrual status and had an
investment rating of "4".  As of September 30, 2014, the
investments in these portfolio companies had an aggregate cost
basis of approximately $12.9 million and an aggregate fair value
of approximately $8.6 million.

The disclosure was made in New Mountain Finance Corporation's
earnings release for the quarter ended September 30, 2014, a copy
of which is available for free at http://is.gd/1My3IS

                  About UniTek Global Services

UniTek Global Services, Inc., based in Blue Bell, Pennsylvania,
provides fulfillment and infrastructure services to media and
telecommunication companies in the United States and Canada.

UniTek Global reported a net loss of $52.07 million on $471.93
million of revenues for the year ended Dec. 31, 2013, as compared
with a net loss of $77.73 million on $437.59 million of revenues
in 2012.

The Company's balance sheet at March 29, 2014, showed $249.60
million in total assets, $257.33 million in total liabilities and
a $7.72 million total stockholders' deficit.

                        Bankruptcy Warning

"An event of default under either of our credit facilities could
result in, among other things, the acceleration and demand for
payment of all the principal and interest due and the foreclosure
on the collateral.  As a result of such a default or action
against collateral, we could be forced to enter into bankruptcy
proceedings, which may result in a partial or complete loss of
your investment," the Company said in its annual report for the
year ended Dec. 31, 2013.

                           *     *     *

As reported by the TCR on Oct. 17, 2013, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Blue Bell,
Pa.-based UniTek Global Services Inc. to 'B-' from 'CCC'.  "The
ratings upgrade to 'B-' reflects our belief that the company
is no longer vulnerable and dependent on favorable developments to
meet its financial commitments over the next few years," said
Standard & Poor's credit analyst Michael Weinstein.

The TCR reported on Oct. 10, 2014, that Moody's Investors Service
downgraded UniTek Global Services, Inc.'s corporate family rating
to Ca.  The Ca corporate family rating reflects Moody's view that
the forbearance agreement entered into with UniTek's lenders on
August 8th would be considered a default under Moody's definition.


VERITEQ CORP: Names Marc Gelberg Chief Accounting Officer
---------------------------------------------------------
Marc Gelberg was appointed chief accounting officer and vice
president of financial reporting of VertiTeQ Corporation and will
serve as the Company's principal accounting officer, according to
a regulatory filing with the U.S. Securities and Exchange
Commission.

Mr. Gelberg was previously corporate controller of Fusion
Telecommunications International, Inc., a provider of unified
communications and cloud services, since April of 2011, assuming
the additional responsibilities of vice president of finance and
senior vice president of finance in November of 2012 and March of
2014, respectively.

From November of 2010 through March of 2011, Mr. Gelberg served as
an SEC Reporting consultant for China Direct Industries, Inc.,
primarily serving its client companies.  From February of 2008
through September 2010, Mr. Gelberg was vice president, corporate
controller for Cross Match Technologies, Inc., and from July of
2006 through February of 2008 he was vice president of Accounting
and Financial Reporting for ION Media Networks, Inc.  Mr. Gelberg
holds a Bachelor?' Degree in Economics from the State University
of New York at Albany, and received his CPA certification from the
State of New York in 1994.

                           About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ offers the world's first FDA
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.  For more information on VeriTeQ, please
visit www.veriteqcorp.com

Veriteq Corporation reported a net loss of $15.07 million on
$18,000 of sales for the year ended Dec. 31, 2013, as compared
with a net loss of $1.60 million on $0 of sales for the year ended
Dec. 31, 2012.  As of June 30, 2014, the Company had $7.04 million
in total assets, $14.16 million in total liabilities and a $7.12
million total stockholders' deficit.

EisnerAmper LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has incurred recurring net losses, and at Dec. 31,
2013, had negative working capital and a stockholders' deficit.
These events and conditions raise substantial doubt about the
Company's ability to continue as a going concern.


VILLAGE AT KNAPP'S: Lormax & Visser Want to Buy Property
--------------------------------------------------------
Matt Vande Bunte, writing for Mlive.com, reports that Lormax Stern
Development Co. and Visser Brothers, Inc., want to buy the Village
at Knapp's Crossing property on the East Beltline out of
bankruptcy and put 13 more commercial buildings on the site,
setting the buildings back from the street, with parking in front
of them.

According to Mlive.com, the city's Planning Commission wasn't
thrilled with the developer's idea to turn the land into an "auto-
oriented, over-parked shopping center."  The report says that
planning commissioners want developers to: (i) talk with neighbors
about the project, including how to improve pedestrian and bicycle
access to and through the property; (ii) incorporate some form of
"placemaking" so that the property doesn't look like the auto-in-
auto-out shopping center that developers want it to be, and (iii)
housing on the site.  The report states that the rezoning is
tentatively scheduled to come back to the commission Nov. 13.

Mlive.com recalls that Steve Benner, who bought the apple orchard
at the corner of Knapp Street and the East Beltline in 2004, had
planned a $60 million "lifestyle center" with about 300,000
square-feet of commercial space anchored by a walkable "main
street," but that didn't materialize.  "That type of plan really
doesn't work in northern climates.  I mean, I'm sure it exists in
places that haven't gone bankrupt, yet.  (We) believe it to be un-
leasable and anticipate a lot of success with this (suburban)
model," Mlive.com quoted Visser Bros. president Bill Mast as
saying.

               About The Village at Knapp's Crossing

The Village at Knapp's Crossing, L.L.C. in Grand Rapids, Michigan,
filed for Chapter 11 (Bankr. W.D. Mich. Case No. 13-06094) on
July 25, 2013.  The Debtor scheduled $65,109,523 in total assets
and $7,419,217 in total liabilities.  The petition was signed by
Steven D. Benner, managing member on behalf of S.D. Benner, sole
member.

As reported by the Troubled Company Reporter on June 10, 2014, Jim
Harger, writing for MLive.com, reported that Judge Scott W. Dales,
who presides over the case, granted on June 9 a request by the
International Bank of Chicago to convert the Chapter 11 case to
Chapter 7.

Lawyers at Tishkoff & Associates PLLC, led by William G. Tishkoff,
Esq., serve as the Debtor's counsel.  John S. Huizinga CPA serves
as accountants.


WALTER ENERGY: Incurs $98.9 Million Net Loss in Third Quarter
-------------------------------------------------------------
Walter Energy, Inc., reported a net loss of $98.90 million on
$329.54 million of revenues for the three months ended Sept. 30,
2014, compared to a net loss of $100.72 million on $455.79 million
of revenues for the same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $342.47 million on $1.12 billion of revenues compared
to a net loss of $184.66 million on $1.38 billion of revenues for
the same period during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $5.64
billion in total assets, $5.18 billion in total liabilities and
$454.91 million in stockholders' equity.

"In the challenging pricing environment for met coal, we remain
focused on lowering production costs, reducing SG&A and improving
productivity," said Walt Scheller, chief executive officer.  "We
have also idled assets that aren't generating cash, and we're
reducing inventory across the Company.  We expect our operating
and financial results to reflect these actions going forward,
making us more competitive and positioning us well for a recovery
in met coal pricing."

A copy of the press release is available for free at:

                        http://is.gd/KstI7f

                        About Walter Energy

Walter Energy is a leading, publicly traded "pure-play"
metallurgical coal producer for the global steel industry with
strategic access to high-growth steel markets in Asia, South
America and Europe.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,900 employees with operations in
the United States, Canada and United Kingdom.

                            *    *    *

As reported by the TCR on Aug. 19, 2014, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Birmingham,
Ala.-based Walter Energy Inc. to 'CCC+' from 'SD'.  S&P believes
the company's capital structure is likely unsustainable in the
long-term absent an improvement in met coal prices.

The TCR reported on July 10, 2014, that Moody's downgraded the
Corporate Family Rating of Walter Energy, Inc., to Caa2 from Caa1.
The downgrade in the corporate family rating reflects the
anticipated deterioration in performance, increased cash burn and
increase in leverage, given the recent met coal benchmark
settlement of $120 per tonne for high quality coking coal and our
expectation that meaningful recovery in metallurgical coal markets
is twelve to eighteen months away.


WALTER ENERGY: Incurs $98.9 Million Net Loss in Third Quarter
-------------------------------------------------------------
Walter Energy, Inc., reported a net loss of $98.90 million on
$329.54 million of revenues for the three months ended Sept. 30,
2014, compared to a net loss of $100.72 million on $455.79 million
of revenues for the same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $342.47 million on $1.12 billion of revenues compared
to a net loss of $184.66 million on $1.38 billion of revenues for
the same period during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $5.64
billion in total assets, $5.18 billion in total liabilities and
$454.91 million in stockholders' equity.

"In the challenging pricing environment for met coal, we remain
focused on lowering production costs, reducing SG&A and improving
productivity," said Walt Scheller, chief executive officer.  "We
have also idled assets that aren't generating cash, and we're
reducing inventory across the Company.  We expect our operating
and financial results to reflect these actions going forward,
making us more competitive and positioning us well for a recovery
in met coal pricing."

A copy of the press release is available for free at:

                        http://is.gd/KstI7f

                        About Walter Energy

Walter Energy is a leading, publicly traded "pure-play"
metallurgical coal producer for the global steel industry with
strategic access to high-growth steel markets in Asia, South
America and Europe.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,900 employees with operations in
the United States, Canada and United Kingdom.

                            *    *    *

As reported by the TCR on Aug. 19, 2014, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Birmingham,
Ala.-based Walter Energy Inc. to 'CCC+' from 'SD'.  S&P believes
the company's capital structure is likely unsustainable in the
long-term absent an improvement in met coal prices.

The TCR reported on July 10, 2014, that Moody's downgraded the
Corporate Family Rating of Walter Energy, Inc., to Caa2 from Caa1.
The downgrade in the corporate family rating reflects the
anticipated deterioration in performance, increased cash burn and
increase in leverage, given the recent met coal benchmark
settlement of $120 per tonne for high quality coking coal and our
expectation that meaningful recovery in metallurgical coal markets
is twelve to eighteen months away.


ZOGENIX INC: Signs Waiver Agreement With Purdue Pharma
------------------------------------------------------
Zogenix, Inc., entered into a Waiver Agreement with Purdue Pharma
L.P., pursuant to which Zogenix granted to Purdue a permanent,
irrevocable, non-transferable and exclusive waiver of the three-
year Hatch-Waxman regulatory exclusivity period with respect to
NDA 202880 for Zohydro ER(R) capsules in support of Purdue's
single-entity, extended-release hydrocodone product which is the
subject of pending NDA 206627 and any single-entity, once-daily
hydrocodone successor products or NDAs filed by Purdue.

In addition, Purdue granted to Zogenix a permanent, irrevocable,
non-transferable and exclusive waiver of the Hatch-Waxman
regulatory exclusivity period with respect to Purdue Products in
support of Zogenix's single-entity, twice-a-day hydrocodone
product, including Zohydro ER and any successor products with any
abuse deterrent properties or labeling claims.

Under the terms of the Agreement, Purdue will pay to Zogenix (i)
$5.0 million within 15 days of the date of the Agreement, (ii)
$5.0 million on July 1, 2015, and (iii) a percentage royalty in
the low single-digits on Purdue's net sales of Purdue Product
commencing on Oct. 1, 2015, and ending on Oct. 25, 2016, only to
the extent such royalty payment by Purdue in the aggregate would
exceed $5.0 million and then only with respect to royalties in
excess of that amount.

                         About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Zogenix reported a net loss of $80.85 million in 2013, as compared
with a net loss of $47.38 million in 2012.

The Company's balance sheet at June 30, 2014, the Company had
$133.29 million in total assets, $64.98 million in total
liabilities and $68.31 million in total stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company's recurring losses from operations and lack of
sufficient working capital raise substantial doubt about its
ability to continue as a going concern.


* Heraldnet.com Reports 8 Snohomish County Bankr. Filings in Sept.
------------------------------------------------------------------
Heraldnet.com reports that seven Chapter 7 bankruptcy petitions
and one Chapter 11 bankruptcy petition were filed with the U.S.
Bankruptcy Court for the Western District of Washington between
Sept. 1 and Sept. 30, 2014.

According to Heraldnet.com, the Snohomish County Chapter 7
bankruptcy filers are:

  Debtor                 Case No.             Counsel
  ------                 --------             -------
Catherine J Mighell      14-16647       Jamie J McFarlane
                                        Michele S. Assayag
                                        Lisa M. McMahon-Myhran

Roger DW Peek            14-16711       Richard J. Welt

Robert R Curtis, Jr.     14-16731       Riley D. Lee

Shawn Michael Doherty    14-16773       Stephen J. Garvey


Darrel G. Rae            14-16833       Lawrence M. Blue

James Stewart Grinnell   14-16945       Richard J. Shurtz
and Yupha Kay Grinnell                  Lisa M. McMahon-Myhran

Pineda Precision Inc     14-17025       Angela R. Neeleman

Anthony Robert Iazeolla and Melanie Rea Iazeolla filed for Chapter
11 bankruptcy protection (Bankr. W.D. Wash. 14-16854) on Sept. 16,
2014.  The Debtors are represented by Larry B. Feinstein and
Jennifer L Aspaas.


* Omaha.com Reports 18 Ch 7 & 3 Ch 13 Filings as of Oct. 31
-----------------------------------------------------------
Omaha.com reports 21 Chapter 7 and 13 bankruptcy filings as of
Oct. 31, 2014.

The Chapter 7 filings are:

      (1) Kale K. and Brandy J. Wicks
          148 Glen Avenue, Council Bluffs;

      (2) Christopher C. and Elise M. Fiedler
          1122 E. Fourth Street, Atlantic, Iowa;

      (3) Carl R. and Helen A. Brandenburg
          402 Delong Avenue, Council Bluffs;

      (4) Matthew D. and Kristen M. Hughes
          215 S. Second Street, Red Oak, Iowa;

      (5) Charles R. and Patricia A. Qualls
          304 Western Avenue, Shelby, Iowa;

      (6) Melvin C. and Tanya M. Miller
          25820 Teakwood Road, Neola, Iowa;

      (7) Christopher J. Sr. and Twila Hopkins
          P.O. Box 14, Harlan, Iowa;

      (8) Joshua L. Leonard
          P.O. Box 404, Pacific Junction, Iowa;

      (9) Maira C. Mirabal
          2531 Pavich Drive, Council Bluffs;

     (10) Jeffery A. Dyrda
          3453 Fourth Avenue, Council Bluffs;

     (11) Amy L. Olson
          2733 Second Avenue, Council Bluffs;

     (12) Gary M. Thompson
          1400 Franklin Avenue, Council Bluffs;

     (13) Christopher A. Howell
          507 O Street, Hamburg, Iowa;

     (14) Lynn A. Strohecker
          1904 Oak Street, Atlantic, Iowa;

     (15) William A. Eddington
          1107 Court Street, Dunlap, Iowa;

     (16) Aaron M. Sitzmann
          2911 Heard Lane, Council Bluffs;

     (17) Kasey O. Corum
          306 N. 40th Street, Council Bluffs; and

     (18) Thelma J. Greenlee
          15463 Crestview Drive, Council Bluffs.

The Chapter 13 filings are:

      (1) Harry R. and Kathryn A. Wise
          1617 Sixth Avenue, Council Bluffs;

      (2) Brian L. and Tami S. Halstrom
          P.O. Box 701, Avoca, Iowa; and

      (3) Sherry D. Horton
          103 North Avenue, Council Bluffs.


* American College of Bankruptcy to Induct Peggy Hunt as Fellow
---------------------------------------------------------------
International law firm Dorsey & Whitney LLP on Nov. 5 disclosed
that Peggy Hunt, a partner in the Firm's Salt Lake City office,
will be inducted as a Fellow of the American College of Bankruptcy
on March 13, 2015, in Washington, D.C.

Ms. Hunt is one of 34 nominees being honored and recognized for
their professional excellence and exceptional contributions to the
fields of bankruptcy and insolvency.  She has 25 years of
experience in all aspects of bankruptcy law representation,
including representing Chapter 11 trustees in large Ponzi and
security fraud cases, corporate debtors, committees, and
creditors.  Ms. Hunt also serves on the Panel of Chapter 7
Trustees for the District of Utah, and represents receivers
appointed in SEC civil enforcement actions.  She regularly is
invited to speak on topics involving bankruptcy and receivership
law, and she is a Contributing Author for the Collier Bankruptcy
Practice Guide.

"Peggy's leadership and experience in the areas of bankruptcy and
insolvency enhance our ability to serve client needs," said Dorsey
Managing Partner Ken Cutler.  "Being named a Fellow in the College
is a well-deserved honor, and we are delighted Peggy's long-
standing achievements in these fields are being acknowledged."

The American College of Bankruptcy is an honorary professional and
educational association of bankruptcy and insolvency
professionals.  The College plays an important role in sustaining
professional excellence and supports educational and pro bono
efforts in local communities around the country.  College Fellows
include commercial and consumer bankruptcy attorneys, judges,
insolvency accountants, turnaround and workout specialists, law
professors, government officials and others involved in the
bankruptcy and insolvency community.

The induction ceremony will take place at the Smithsonian Donald
W. Reynolds Center for American Art and Portraiture, and will be
presided over by Michael L. Cook, Chair of the College.

                   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: The Sorcerer's Apprentice - Medical Miracles
               and Other Disasters
-----------------------------------------------------------
Author:     Sallie Tisdale
Publisher:  BeardBooks
Softcover:  270 pages
List Price: $34.95
Review by Henry Berry

Order your own personal copy at http://is.gd/9SAfJR

An earlier edition of "The Sorcerer's Apprentice" won an American
Health Book Award in 1986. The book has been recognized as an
outstanding book on popular science. Tisdale brings to her subject
of the wide and engrossing field of health and illness the
perspective, as well as the special sympathies and sensitivities,
of a registered nurse. She is an exceptionally skilled writer.
Again and again, her descriptions of ill individuals and images of
illnesses such as cancer and meningitis make a lasting impression.
Tisdale accomplishes the tricky business of bringing the reader to
an understanding of what persons experience when they are ill; and
in doing this, to understand more about the nature of illness as
well. Her style and aim as a writer are like that of a medical or
science journalist for leading major newspaper, say the "New York
Times" or "Los Angeles Times." To this informative, readable style
is added the probing interest and concern of the philosopher
trying to shed some light on one of the central and most
unsettling aspects of human existence. In this insightful,
illuminating, probing exploration of the mystery of illness,
Tisdale also outlines the limits of the effectiveness of
treatments and cures, even with modern medicine's store of
technology and drugs. These are often called "miracles" of modern
medicine. But from this author's perspective, with the most
serious, life-threatening, illnesses, doctors and other health-
care professionals are like sorcerer's trying to work magic on
them. They hope to bring improvement, but can never be sure what
they do will bring it about. Tisdale's intent is not to debunk
modern medicine, belittle its resources and ways, or suggest that
the medical profession holds out false hopes. Her intent is do
report on the mystery of serious illness as she has witnessed it
and from this, imagined what it is like in her varied work as a
registered nurse. She also writes from her own experiences in
being chronically ill when she was younger and the pain and
surgery going with this.

She writes, "I want to get at the reasons for the strange state of
amnesia we in the health professions find ourselves in. I want to
find clues to my weird experiences, try to sense the nature of
being sick." The amnesia of health professionals is their state of
mind from the demands placed on them all the time by patients,
employers, and society, as well as themselves, to cure illness, to
save lives, to make sick people feel better. Doctors, surgeons,
nurses, and other health-care professionals become primarily
technicians applying the wonders of modern medicine. Because of
the volume of patients, they do not get to spend much time with
any one or a few of them. It's all they can do to apply the
prescribed treatment, apply more of it if it doesn't work the
first time, and try something else if this treatment doesn't seem
to be effective. Added to this is keeping up with the new medical
studies and treatments. But Tisdale stepped out of this problem-
solving outlook, can-do, perfectionist mentality by opting to
spend most of her time in nursing homes, where she would be among
old persons she would see regularly, away from the high-charged
atmosphere of a hospital with its "many medical students,
technicians, administrators, and insurance review artists." To
stay on her "medical toes," she balanced this with working
occasional shifts in a nearby hospital. In her hospital work, she
worked in a neonatal intensive care unit (NICU), intensive care
unit (ICU), a burn center, and in a surgery room. From this
combination of work with the infirm, ill, and the latest medical
technology and procedures among highly-skilled professionals,
Tisdale learned that "being sick is the strangest of states." This
is not the lesson nearly all other health-care workers come away
with. For them, sick persons are like something that has to be
"fixed." They're focused on the practical, physical matter of
treating a malady. Unlike this author, they're not focused
consciously on the nature of pain and what the patient is
experiencing. The pragmatic, results-oriented medical profession
is focused on the effects of treatment. Tisdale brings into the
picture of health care and seriously-ill patients all of what the
medical profession in its amnesia, as she called it, overlooks.

Simply in describing what she observes, Tisdale leads those in the
medical profession as well as other interested readers to see what
they normally overlook, what they normally do not see in the
business and pressures of their work. She describes the beginning
of a hip-replacement operation, the surgeon "takes the scalpel and
cuts--the top of the hip to a third of the way down the thigh--and
cuts again through the globular yellow fat, and deeper. The
resident follows with a cautery, holding tiny spraying blood
vessels and burning them shut with an electric current. One small,
throbbing arteriole escapes, and his glasses and cheek are
splattered." One learns more about what is actually going on in an
operation from this and following passages than from seeing one of
those glimpses of operations commonly shown on TV. The author
explains the illness of meningitis, "The brain becomes swollen
with blood and tissue fluid, its entire surface layered with
pus...The pressure in the skull increases until the winding
convolutions of the brain are flattened out...The spreading
infection and pressure from the growing turbulent ocean sitting on
top of the brain cause permanent weakness and paralysis,
blindness, deafness...." This dramatic depiction of meningitis
brings together medical facts, symptoms, and effects on the
patient. Tisdale does this repeatedly to present illness and the
persons whose lives revolve around it from patients and relatives
to doctors and nurses in a light readers could never imagine, even
those who are immersed in this world.

Tisdale's main point is that the miracles of modern medicine do
not unquestionably end the miseries of illness, or even
unquestionably alleviate them. As much as they bring some relief
to ill individuals and sometimes cure illness, in many cases they
bring on other kinds of pains and sorrows. Tisdale reminds readers
that the mystery of illness does, and always will, elude the
miracle of medical technology, drugs, and practices. Part of the
mystery of the paradoxes of treatment and the elusiveness of
restored health for ill persons she focuses on is "simply the
mystery of illness. Erosion, obviously, is natural. Our bodies are
essentially entropic." This is what many persons, both among the
public and medical professionals, tend to forget. "The Sorcerer's
Apprentice" serves as a reminder that the faith and hope placed in
modern medicine need to be balanced with an awareness of the
mystery of illness which will always be a part of human life.


                             *********

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 202-362-8552.


                  *** End of Transmission ***