TCR_Public/141125.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Tuesday, November 25, 2014, Vol. 18, No. 328

                            Headlines

30DC INC: Reports $31,600 Net Income in Third Quarter
9920 FLORA VISTA: S&P Lowers Rating on 2002A Housing Bonds to 'B+'
ADAMIS PHARMACEUTICALS: Has Resale Prospectus of $1.7MM Shares
AEREO INC: Argus Providing Restructuring Officers
AEREO INC: Proposes Brown Rudnick as Counsel

AERODYNAMICS INC: Wants Youngstown-Warren Regional Daily Flights
ALCO STORES: Court Approves Procedures for Store Closing Sales
ALCO STORES: Merchandise Inc. Objects to DIP Financing Motion
ALCO STORES: U.S. Trustee Objects to DIP Financing Motion
AMERICAN AIRLINES: Pilots, Management Continue Labor Deal Talks

AMERICAN APPAREL: Appoints Chelsea Grayson as General Counsel
AMERICAN BEACON: Moody's Puts Ba2 CFR on Review for Downgrade
AMERICAN MEDIA: Extends CFO's Employment Until March 2017
AMINCOR INC: Delays Form 10-Q for Third Quarter
AMPLIPHI BIOSCIENCES: Posts $19.4 Million Net Income in Q3

AOXING PHARMACEUTICAL: Incurs $8,000 Net Loss in Sept. 30 Quarter
APPALACHIAN FUELS: Bankruptcy Court Awards $2.7MM to West Va. DEP
ARCHDIOCESE OF ST. PAUL: Fin'l Situation Due to Litigation Costs
ARISTA POWER: Posts $524,000 Net Income in Third Quarter
ATTACHMATE CORP: S&P Withdraws 'B' CCR Following Acquisition

AVALON HOME HEALTH: Voluntary Chapter 11 Case Summary
BAYAMON SMH CORP: Case Summary & 11 Largest Unsecured Creditors
BIOLIFE SOLUTIONS: Walter Villiger Had 39.2% Stake at Oct. 30
BERRY PLASTICS: Posts $29 Million Net Income in Fourth Quarter
BOOMERANG SYSTEMS: Issues Options to Executive & Directors

BRAFFITS CREEK: Secured Creditor Wins Confirmation of Plan
CALMARE THERAPEUTICS: Incurs $1.2-Mil. Net Loss in Third Quarter
CASH STORE: Obtains Stay Extension & Additional DIP Financing
CATALENT PHARMA: S&P Retains 'BB-' CCR Following $180MM Tack-On
CEETOP INC: Delays Form 10-Q for Third Quarter

CHINA GINSENG: Reports $571,000 Net Loss for Third Quarter
CLEAREDGE POWER: Wants to Hire KS & Co as Auditors
CLEAREDGE POWER: Hires BDO as Accountants
CRAIGHEAD COUNTY FAIR: Court Approves Brent Stidman as Accountant
CREATIVE ARTISTS: Moody's Assigns B2 Corporate Family Rating

CREATIVE ARTISTS: S&P Assigns B+ CCR & Rates $610MM Sec. Debt BB-
CTI BIOPHARMA: To Issue $200 Million Worth of Securities
CUMBERLAND CONSTRUCTION: Doe Run Elementary School Evacuated
DENDREON CORP: Employs Skadden Arps as Bankruptcy Counsel
DENDREON CORP: Proposes to Employ Lazard as Investment Banker

DENDREON CORP: Can Employ Prime Clerk as Claims Agent
DENDREON CORP: Has Authority to Pay $3-Mil. to Critical Vendors
DENDREON CORP: Court Issues Joint Administration Order
DIAMOND US HOLDINGS: Moody's Assigns B1 Corporate Family Rating
DISTRIBUTION INT'L: S&P Raises CCR to 'B'; Outlook Stable

DUNE ENERGY: Tender Offer Expiration Further Extended to Dec. 22
EDUCATION MANAGEMENT: Terminates Registration of Securities
E.H. MITCHELL: Reginald J. Laurent Balks at Confirmation of Plan
ENERGY FUTURE: Coercive Tender Offers to Get Scrutiny in 2015
EFT HOLDINGS: Delays Form 10-Q for Third Quarter

ERF WIRELESS: Issues 2.1 Million Common Shares
FALCON STEEL: Gets Extended Exclusivity to File Plan Thru Jan. 16
FOUNDATION HEALTHCARE: To Issue Add'l 17.2MM Shares Under Plan
FLUX POWER: Reports $197,000 Net Loss for Sept. 30 Quarter
GIL DE LA MADRID: Bar Date Gets Reset After Case Is Reinstated

GENERAL MOTORS: Arizona Wants $3BB for Drop in Value of Vehicles
GENIUS BRANDS: Reports $849,000 Net Loss in Third Quarter
GREEN AUTOMOTIVE: Delays Form 10-Q for Third Quarter
GREEN BRICK: Conference Call Held to Discuss JBGL Results
GREEN EARTH: Amends 9.6 Million Common Shares Prospectus

GT ADVANCED: Failed to Manage Workers & Production, Apple Says
HOLE IN ONE: Sells West Chase Golf Club at Auction for Over $900K
HASHFAST TECHNOLOGIES: Bids for Assets Must Be Filed by Dec. 2
HULDRA SILVER: Closes $7-Mil. Financing; Implements Restructuring
IMPERIAL METALS: Moody's Lowers Corporate Family Rating to Caa1

INDEPENDENCE TAX IV: Delays Form 10-Q for Third Quarter
INTERNATIONAL TEXTILE: Wilbur Ross Quits From Board
ITR CONCESSION: Porter County Won't Bid for Lease
JACK JOHNSON: Blames Bankr. on Parents; California House on Sale
KINDER MORGAN: Moody's Hikes Junior Subordinated Rating to Ba1

KINDER MORGAN: S&P Raises Corp. Credit Rating From 'BB'
KIOR INC: Idled Biofuels Plant in Columbus May Be Sold as Scrap
LAKELAND INDUSTRIES: Registers 1.1-Mil. Common Shares for Resale
LDK SOLAR: Bankruptcy Court Confirms U.S. Chapter 11 Plan
LOGAN'S ROADHOUSE: S&P Puts 'B-' CCR on CreditWatch Negative

LDK SOLAR: Bankruptcy Court Confirms U.S. Chapter 11 Plan
LOLETA CHEESE: Files for Ch 11, Wants to Sell Farming Equipment
LVBK LLC: Case Summary & 9 Largest Unsecured Creditors
MARY SANTIAGO: Ruling Favors New Yorkers with Regulated Apts.
MCCLATCHY CO: Bestinver Gestion Reports 9.8% of Class A Shares

METALICO INC: Reports $6.9 Million Net Loss for Third Quarter
MGM RESORTS: S&P Assigns 'B+' Rating on $1BB Sr. Unsecured Notes
MISSISSIPPI PHOSPHATES: 4 Parties Reply to DIP Financing Motion
MISSISSIPPI PHOSPHATES: Seeks OK of Procedures to Sell Assets
MOLYCORP INC: Signs Exchange Agreement With Noteholder

MONARCH COMMUNITY: Posts $22,000 Net Income in Third Quarter
MORTGAGE GUARANTY: S&P Hikes LT Counterparty Credit Rating to BB+
N-VIRO INTERNATIONAL: Delays Form 10-Q for Third Quarter
NAARTJIE CUSTOM: Court Approves Bidding Procedures and Auction
NAARTJIE CUSTOM: Bonnie Glantz Named as Consumer Privacy Ombudsman

NAKED BRAND: Introduces New Visual Brand Identity
NEW LOUISIANA: Committee Wants Reconsideration of Financing Order
NEW LOUISIANA: Wants Neligan Foley as Counsel for New Debtors
NII HOLDINGS: Hires Togut Firm as Conflicts Counsel
NII HOLDINGS: Court Fixes Dec. 23 as Claims Filing Deadline

NII HOLDINGS: Reaches Agreement with Major Stakeholders
NORTHERN BEEF: Settles WARN Action for $180K Cash, $1-MM in Claim
OCEANSIDE MILE: Withdraws Motion to Use Cash Collateral
OUTLAW RIDGE: Wants to Enter into Escrow Agreement with Pasco, FL
OW BUNKER: US Units Want to Sell Over 150K Barrels of Oil

PACIFIC SANDS: Incurs $456,000 Net Loss in Sept. 30 Quarter
PARAGON OFFSHORE: S&P Lowers CCR to 'BB-'; Outlook Negative
PEOPLEWELL HR: Files for Chapter 11 in Tampa
PEOPLEWELL HR: Proposes Buddy D. Ford as Bankruptcy Counsel
PEOPLEWELL HR: Case Summary & 3 Largest Unsecured Creditors

PLASTIC2OIL INC: Incurs $1.4 Million Net Loss in Third Quarter
PLUG POWER: Files Form 10-Q, Issues Bankruptcy Warning
PREMIER TRANSFER: Case Summary & 20 Largest Unsecured Creditors
REALOGY CORP: Issues $300 Million Senior Notes Due 2021
REGENT PARK: Case Summary & 13 Largest Unsecured Creditors

REVEL AC: Deal to Sell to Brookfield at Risk
RICEBRAN TECHNOLOGIES: Incurs $3.7 Million Net Loss in Q3
ROCKWELL MEDICAL: Prices $58.5MM Public Offering of Common Stock
RURAL/METRO CORP: Salem Replaces Co. With Falck Northwest
SEA SHELL COLLECTIONS: Wants to Sell Real Property in Santa Rosa

SEA SHELL COLLECTIONS: Taps Marcus & Millichap as Brokers
SEARS HOLDINGS: Raised $625 Million From Rights Offering
SEARS HOLDINGS: ESL Partners Reports 51.9% Stake as of Nov. 18
SHELBOURNE NORTH: Related Midwest Wants 10 Unsecured Claims Denied
SISTER 2 SISTER: Case Summary & 20 Largest Unsecured Creditors

SONNEBORN HOLDINGS: S&P Rates Proposed 1st Lien Secured Debt 'B'
SEEGRID CORP: Creditor Seeks Confirmation Hearing Delay to 2015
SPECIALTY HOSPITAL: General Claims Bar Date Fixed as Dec. 19
SPENDSMART NETWORKS: Incurs $2.4 Million Net Loss in 3rd Quarter
STELLAR BIOTECHNOLOGIES: Inks Supply Pact With Araclon Biotech

SUMMIT STREET: Schedules and Statement Due Dec. 5
SUMMIT STREET: Case Summary & 7 Largest Unsecured Creditors
TECHPRECISION CORP: Incurs $649,000 Net Loss in Second Quarter
TECHPRECISION CORP: Appoints Alexander Shen as CEO
TEXOMA PEANUT: $12.7 Million Loan Requires Auction by Dec. 17

TEXOMA PEANUT: To Auction Clarksdale Facility in December
TRIZETTO CORP: S&P Withdraws 'B-' CCR Following Acquisition
TRUMP ENTERTAINMENT: Hearing on Ch 7 Conversion Set for Dec. 4
UC HOLDINGS: S&P Withdraws 'B-' CCR on Lack of Sufficient Info.
UNITEK GLOBAL: Technicians Say DirectSat, DirecTV Underpaid Them

USMART MOBILE: Reports Profit of $12.7 Million Third Quarter
VALEANT PHARMACEUTICALS: Moody's Affirms Ba3 Corp. Family Rating
VARIANT HOLDING: Gets Interim OK to Obtain $10-Mil. Financing
VARIANT HOLDING: Wins OK of Deal to Resolve Beach Point Disputes
VARSITY BRANDS: S&P Assigns 'B' CCR & Rates $120MM Facility 'BB-'

VB WILIKINA: S&P Raises Rating on 2012A Housing Bonds to 'BB+'
VISION INDUSTRIES: May Exit Ch 11 a Profitable Co., Report Says
WESLEY HOMES: S&P Lowers Long-Term Rating to 'BB+'
WEST TEXAS GUAR: Reorg. Plan OK'd; To Exit Ch 11 as Guar Resources
WOODSIDE HOMES: S&P Keeps B Note Rating Over $30-Mil. Notes Add-on

* Distress Levels of Major Public Cos. in Restaurant Sector Down
* S&P Hikes Ratings on 4 Canadian Issuers on New Revolver Criteria
* Three Elite Law Firms Lift Year-End Bonuses

* Large Companies With Insolvent Balance Sheet


                             *********

30DC INC: Reports $31,600 Net Income in Third Quarter
-----------------------------------------------------
30DC, Inc., announced that during its fiscal first quarter ended
Sept. 30, 2014, the Company recognized revenues of $700,067
respectively from continuing operations compared to $1,942,879
during the fiscal first quarter period ended Sept. 30, 2013.
Revenues from continuing operations were from the following
sources during the fiscal first quarter ended Sept. 30, 2014
compared to Sept. 30, 2013.

Net income was $31,680, or $.00 per share, for the first quarter,
compared to a gain of $736,838, or $.01 per share, for the same
period of fiscal 2014.  The decrease in net income during fiscal
2015 first quarter compared to the same period in the prior fiscal
year was primarily due to the effect of the smaller MagCast
launch.

The Company ended the first quarter with a cash balance of
$144,612 and $756,661 of shareholders' equity.

A full-text copy of the press release is available at:

                        http://is.gd/XKG1F2

                          About 30DC Inc.

New York-based 30DC, Inc., provides Internet marketing services
and related training to help Internet companies in operating their
businesses.  It operates in two divisions, 30 Day Challenge and
Immediate Edge.

30DC, Inc., posted net income of $58,918 on $2.79 million of total
revenue for the year ended June 30, 2014, compared to a net loss
of $407,642 on $1.46 million of total revenue for the year ended
June 30, 2013.

As of Sept. 30, 2014, the Company had $2.78 million in total
assets, $2.03 million in total liabilities and $756,661 in total
stockholders' equity.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2014.  The independent auditors noted that
the Company has accumulated losses from operations since
inception and has a working capital deficit as of June 30, 2014.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.


9920 FLORA VISTA: S&P Lowers Rating on 2002A Housing Bonds to 'B+'
------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'B+' from 'BB-' on Bellflower, Calif.'s series 2002A multifamily
housing revenue bonds, issued for 9920 Flora Vista's Bellflower
Terrace Senior Apartments project.  The outlook is stable.  The
bonds are backed by a mortgage loan that is secured by a Fannie
Mae collateral agreement.

"This rating action is based on our view of the issue's continued
inability to pay full and timely debt service at remarketing due
to its reliance on short-term market rate investments," said
Standard & Poor's credit analyst Adam Cray.

The rating reflects S&P's view of the following weaknesses:

   -- Insufficient revenues from mortgage debt service payments
      and investment earnings to pay full and timely debt service
      on the bonds plus fees through remarketing;

   -- An expected decline in debt service coverage to below
      investment-grade levels as of the June 1, 2023, remarketing
      date; and

   -- Asset-liability parity of approximately 99.64% as of June 3,
      2014.


ADAMIS PHARMACEUTICALS: Has Resale Prospectus of $1.7MM Shares
--------------------------------------------------------------
Adamis Pharmaceuticals Corporation filed with the U.S. Securities
and Exchange Commission a Form S-3 registration statement relating
to the resale or other disposition from time to time of up to
1,765,062 shares of the Company's common stock to be offered by
Eses Holdings (FZE), Thomas Masterson, Craig Pierson, et al.,
including 1,715,388 previously issued shares of the Company's
common stock and 49,674 shares that are issuable upon exercise of
outstanding previously issued common stock purchase warrants, by
the selling stockholders.

The Warrants have an exercise price of $3.40 per share, and may be
exercised during the period ending June 26, 2018.  The selling
stockholders may, from time to time, sell, transfer, or otherwise
dispose of any or all of their shares of common stock from time to
time on any stock exchange, market, or trading facility on which
the shares are traded or in private transactions.  These
dispositions may be at fixed prices, at prevailing market prices
at the time of sale, at prices related to the prevailing market
price, at varying prices determined at the time of sale, or at
negotiated prices.

The Company is not offering any shares of its common stock for
sale under this prospectus.  The Company will not receive any of
the proceeds from the sale of common stock by the selling
stockholders.  However, the Company will generate proceeds in the
event of a cash exercise of the Warrants by the Selling
Stockholders.

The Company's common stock is quoted on the Nasdaq Capital Market
under the symbol "ADMP."  On Nov. 18, 2014, the last reported sale
price of the Company's common stock as reported on the Nasdaq
Capital Market was $3.94 per share.

A full-text copy of the Form S-3 registration statement is
available for free at http://is.gd/v6jsQ6

                            About Adamis

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

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

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

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

                         Bankruptcy Warning

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


AEREO INC: Argus Providing Restructuring Officers
-------------------------------------------------
Aereo, Inc., seeks approval from the Bankruptcy Court of the
engagement of (i) Lawton W. Bloom of Argus Management Corporation
as Chief Restructuring Officer, and (ii) Peter Sullivan and Scott
Dicus, each as an Assistant Restructuring Officer.

Argus specializes in the provision of turnaround, crisis
management, performance improvement and restructuring and
accounting services for public and private companies, general
creditors, secured parties, acquirers of non-performing companies
and judicial bodies.

Argus intends to work closely with other professionals retained by
the Debtor to ensure that there is no unnecessary duplication of
services performed for or charged to the Debtor's estate.

The Debtor requests that Argus will be compensated as follows:

   (a) a monthly fee of $50,000;

   (b) a success fee equal to 2% of the aggregate compensation
received in the sale of the Debtor's assets; and

   (c) reimbursement of all reasonable out-of-pocket expenses
incurred in discharging its responsibilities, provided, however,
if the aggregate amount of such expenses exceed $2,000 per month,
Argus will provide notice to the Debtor before incurring further
expenses.

Prior to the Petition Date, the Debtor provided Argus a retainer
in the amount of $50,000.

The Debtor will indemnify and hold harmless Argus and its
shareholders, directors, officers, managers, employees,
contractors, agents and controlling persons (including Mr. Bloom,
Mr. Sullivan and Mr. Dicus) from and against any and all claims,
and liabilities.

To the best of the Debtor's knowledge, and except as disclosed in
the Affidavit, Argus has no connection with, and holds no interest
adverse to, the Debtor, its creditors, equity security holders,
current or former officers and directors, or any other parties-in-
interest.

The firm may be reached at:

     Lawton W. Bloom
     ARGUS MANAGEMENT CORPORATION
     208 West 29th Steet, Suite 613A
     New York, NY 10001
     Tel: (212) 686 1593
     E-mail: lbloom@arguscorp.net
             psullivan@arguscorp.net
             sdicus@arguscorp.net


AEREO INC: Proposes Brown Rudnick as Counsel
--------------------------------------------
Aereo, Inc., seeks approval from the Bankruptcy Court to employ
Brown Rudnick LLP under a general retainer as its attorney to
perform the legal services that will be necessary during this
Chapter 11 case.

Prior to the Chapter 11 Petition Date, commencing on Oct. 29,
2014, the Debtor engaged Brown Rudnick to provide advice in
connection with insolvency and related strategies and planning and
the preparation for filing of this Chapter 11 case.

The Debtor believes that Brown Rudnick is a "disinterested
person," as that term is defined in Section 101(14) of the
Bankruptcy Code, as modified by Section 1107(b) thereof.

Brown Rudnick shall charge the Debtor 75% of generally its
customary hourly rates for services as are in effect from time to
time, as charged to bankruptcy and non-bankruptcy clients --
Lodestar Fees.  As of the Petition Date, Brown Rudnick's usual
rates, which are adjusted from time to time, range from $700 to
$1,240 per hour for partners, $415 to $730 per hour for associates
and $285 to $340 per hour for paraprofessionals.  In addition, but
subject to the overall cap, Brown Rudnick will earn a contingency
fee -- Partial Contingency Fee -- equal to 2.0% of the aggregate
consideration realized by the Debtor from the sale of its assets,
recapitalization or other similar transaction.

The aggregate fees earned by Brown Rudnick from the Lodestar Fee
at Reduced Hourly Rates and Partial Contingency Fee may not
exceed, in total, the Lodestar Fees that would have been paid at
Brown Rudnick's usual hourly rates multiplied by 1.25.

Brown Rudnick customarily is reimbursed for all expenses it incurs
in connection with its representation of a client in a given
matter.

                        About Aereo, Inc.

With headquarters in Boston, Massachusetts, Aereo, Inc., is a
technology company that provided subscribers with the ability to
watch live or "time-shifted" local over-the-air broadcast
television on internet-connected devices, such as personal
computers, tablet devices, and "smartphones."   Aero provided to
each subscriber access, via the internet, to individual remote or
micro-antennas and a cloud-based DVR, which were maintained by the
Debtor in facilities within the local market.

Aereo, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 14-13200) in Manhattan, New York, on Nov. 20, 2014.  The
Chapter 11 filing came five months after the U.S. Supreme Court
ruled the Debtor, with respect to live or contemporaneous
transmissions, was essentially performing as a traditional cable
system under the Copyright Act, and thus was violating
broadcasters' copyrights because it wasn't paying broadcasters any
fees.

The Debtor has tapped William R. Baldiga, Esq., at Brown Rudnick
LLP, in New York, as counsel.  The Debtors has also engaged Argus
Management Corp. to provide the services of Lawton W. Bloom as CRO
and Peter Sullivan and Scott Dicus as assistant restructuring
officers.  Prime Clerk LLC is the claims and notice agent.

As of the Petition Date, the Debtor's reported total assets were
$20.5 million, and its total undisputed liabilities (primarily
trade debt) were $4.2 million.


AERODYNAMICS INC: Wants Youngstown-Warren Regional Daily Flights
----------------------------------------------------------------
Lindsay McCoy at Wfmj.com reports that Aerodynamics Incorporated
is waiting for the final certification from the U.S. Department of
Transportation to offer daily flights from Youngstown-Warren
Regional.

Wfmj.com says that the Company must pass a financial fitness test.

According to Wfmj.com, the Company would receive a $1.2 million
grant, partly funded by local tax dollars, to implement daily
flights.

Wfmj.com relates that Scott Beale, the Company's CEO, will appeal
a ruling of a civil lawsuit, which awarded a former business
partner thousands in punitive damages.

Waterford, Michigan-based Aerodynamics Incorporated filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Mich. Case No. 13-
40260) on Jan. 7, 2013, estimating its assets at $500,001 to $1
million, and its debts at $1 million to $10 million.  The petition
was signed by Scott Beale, CEO.

Jason W. Bank, Esq., at Kerr, Russell and Weber, PLC, serves as
the Airline's bankruptcy counsel.

Judge Phillip J. Shefferly presides over the case.

Affiliate ADI Shuttle Group, LLC filed a separate Chapter 11
petition (Bankr. E.D. Mich. Case No. 12-65219) on Nov. 16, 2012.


ALCO STORES: Court Approves Procedures for Store Closing Sales
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
granted ALCO Stores, Inc., et al.'s emergency motion to approve a
comprehensive sale process relating to store closing sales and
sale to the highest bidder; and to approve agency agreement, bid
procedures and bid protections.  The Court scheduled a sale
hearing for November 20, 2014.

The Court also approved the Bid Protections set forth in the
Agency Agreement, including the (i) $1.4 million Break-
Up Fee, and (ii) Expense Reimbursement amounting to $350,000 plus
the amount of the Signage Costs.

                  Objections to the Sale Motion

Blackhawk Network, Inc., a party-in-interest, filed a limited
objection to Debtors' Sale Motion to preserve its rights in and to
$820,538 of cash, which was in the Debtors' possession or control
as of the date of Debtors' Chapter 11 petition, but to which
neither the Debtors nor their lenders have any legal or equitable
right.  The Debtors entered into various agency agreements with
Blackhawk and its network partners.

Should the Debtors ultimately sell substantially all of their
assets under Section 363 of the Bankruptcy Code, the cash must
remain subject to Blackhawk's claims that that cash or its
equivalent value constitutes trust funds held for the benefit of
Blackhawk and its network partners, Blackhawk said.

The Tax Authorities told the Court that they do not object to the
sale of the Debtors' assets.  However, the Tax Authorities object
to any funds being paid to any other parties or creditors prior to
full payment of the Tax Authorities' claims.

The Tax Authorities also object because their senior liens against
the assets are not adequately protected.  As the estate assets are
sold, pursuant to the Bankruptcy Code, the Tax Authorities said
their tax liens will transfer to the related sale proceeds and
those proceeds become the Tax Authorities' cash collateral.

The Tax Authorities are Coleman County TAD, City of Coppell,
Coppell ISD, Cotulla ISD, Dallas County, Hamilton CAD, Harris
County, Jim Hogg County, Lavaca County, Live Oak CAD, Llano
County, Matagorda County, Mt. Vernon ISD, Palacios ISD, Rains
County AD, Sabine County, San Saba County CAD, Ward County,
Winkler County, Wood County, City of Yoakum and Yoakum ISD.  They
are the holders of prepetition claims against the Debtors for year
2014 ad valorem real and business personal property taxes in the
aggregate amount of $422,904.  The amount does not include
postpetition interest at the state statutory rate of 1% per month
to which the Tax Authorities are entitled.

Blackhawk Network, Inc. is represented by:

     Louis J. Price, Esq.
     Beau M. Patterson, Esq.
     MCAFEE & TAFT, A PROFESSIONAL CORPORATION
     10th Floor, Two Leadership Square
     211 N. Robinson
     Oklahoma City, OK 73102-7103
     Telephone: (405) 235-9621
     Facsimile: (405) 235-0439
     E-mail: louis.price@mcafeetaft.com
             beau.patterson@mcafeetaft.com

The Tax Authorities are represented by:

     Laurie Spindler Huffman, Esq.
     LINEBARGER GOGGAN BLAIR & SAMPSON, LLP
     2777 N. Stemmons Fwy, Suite 1000
     Dallas, TX 75201
     Telephone: (214) 880-0089
     Facsimile: (469) 221-5002
     E-mail: laurie.huffman@lgbs.com

                        About ALCO Stores

ALCO Stores, Inc., operates 198 stores in 23 states throughout the
central United States.  Alco offers 35,000 items at its stores,
which are located at smaller markets usually not served by other
regional or national broad line retail chains.  The company was
founded in 1901 as a general merchandising operation in Abilene,
Kansas.

ALCO is a public company, and its common stock is quoted on the
NASDAQ National Market tier of the NASDAQ Stock Market under the
ticker symbol "ALCS."

ALCO Stores and ALCO Holdings LLC sought Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Lead Case No. 14-34941) in Dallas,
Texas, on Oct. 12, 2014, with plans to let liquidators conduct
store closing sales or sell the business to a going-concern buyer.

Judge Stacey G. Jernigan presides over the Chapter 11 cases.

The Debtors have DLA Piper LLP (US) as counsel, Houlihan Lokey
Capital, Inc., as financial advisor, and Prime Clerk LLC as claims
and noticing agent.  Michael Moore has been named consultant to
the Debtors.

As of July 2014, ALCO Stores had assets totaling $222 million and
liabilities totaling $162 million.  The bulk of the liabilities
was total debt outstanding under a credit facility with Wells
Fargo Bank, National Association, of which the aggregate
outstanding was $104.2 million as of the Petition Date.

The U.S. Trustee for Region 6 appointed seven creditors to serve
in the official committee of unsecured creditors of ALCO Stores,
Inc.  The Law Office of Judith W. Ross serve as local counsel to
the Committee.


ALCO STORES: Merchandise Inc. Objects to DIP Financing Motion
-------------------------------------------------------------
Merchandise, Inc. contends that it does not object generally to
the relief requested in ALCO Stores, Inc., et al.'s postpetition
financing motion.  However, the Claimant does object to the relief
requested in the Motion and granted on an interim basis in the
Interim DIP Financing Order to the extent the DIP financing terms
interfere with the reclamation claims and rights of the Claimant
to the goods identified in its reclamation demand to ALCO Stores.

Prior to and during the 45-day window prior to the Petition Date,
the Claimant sold and delivered goods to the Debtors in the
ordinary course of business on credit.  The goods consisted
primarily of cosmetic and health and beauty care products.

The Claimant holds a claim of approximately $372,000, almost all
of which arises from the sale and delivery of goods to the Debtor
within 45 days of the Petition Date.  A portion of the Claimant's
claim (approximately $72,000) arises from goods sold and delivered
within 20 days of the Petition Date and potentially subject to
claims arising under Section 503(b)(9) of the Bankruptcy Code.
The Claimant contends that all of the goods delivered within 45
days of the Petition Date are subject to a reclamation claim under
Section 546(c) of the Bankruptcy Code.

The Claimant acknowledges that its rights to reclamation of the
Goods are subject to the non-avoidable prepetition security
interests securing unpaid allowed prepetition secured claims.
However, the Claimant objects to the granting of postpetition
security interests in the Goods with priority over the reclamation
rights of the Claimant absent a showing of adequate protection of
the rights of the Claimant under Section 364(d)(2) of the
Bankruptcy Code.

Merchandise Inc. further asserts that any order granting relief
requested in the Motion must contain language making it subject to
the terms of the order entered on the Reclamation Procedures
Motion with respect to goods subject to reclamation demand.  In
the alternative, the Claimant requests an order requiring Debtors
to escrow funds equal to the value of the Goods.

Merchandise Inc. is represented by:

          Lynnette Warman, Esq.
          Richard G. Grant, Esq.
          CULHANE MEADOWS, PLLC
          The Crescent, Suite 700
          100 Crescent Court
          Dallas, TX 75201
          Telephone: (214) 693-6525
          Facsimile: (214) 361-6690
          E-mail: rgrant@culhanemeadows.com
                  lwarman@culhanemeadows.com

                        About ALCO Stores

ALCO Stores, Inc., operates 198 stores in 23 states throughout the
central United States.  Alco offers 35,000 items at its stores,
which are located at smaller markets usually not served by other
regional or national broad line retail chains.  The company was
founded in 1901 as a general merchandising operation in Abilene,
Kansas.

ALCO is a public company, and its common stock is quoted on the
NASDAQ National Market tier of the NASDAQ Stock Market under the
ticker symbol "ALCS."

ALCO Stores and ALCO Holdings LLC sought Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Lead Case No. 14-34941) in Dallas,
Texas, on Oct. 12, 2014, with plans to let liquidators conduct
store closing sales or sell the business to a going-concern buyer.

Judge Stacey G. Jernigan presides over the Chapter 11 cases.

The Debtors have DLA Piper LLP (US) as counsel, Houlihan Lokey
Capital, Inc., as financial advisor, and Prime Clerk LLC as claims
and noticing agent.  Michael Moore has been named consultant to
the Debtors.

As of July 2014, ALCO Stores had assets totaling $222 million and
liabilities totaling $162 million.  The bulk of the liabilities
was total debt outstanding under a credit facility with Wells
Fargo Bank, National Association, of which the aggregate
outstanding was $104.2 million as of the Petition Date.

The U.S. Trustee for Region 6 appointed seven creditors to serve
in the official committee of unsecured creditors of ALCO Stores,
Inc.  The Law Office of Judith W. Ross serve as local counsel to
the Committee.


ALCO STORES: U.S. Trustee Objects to DIP Financing Motion
---------------------------------------------------------
William T. Neary, the United States Trustee for Region 16, filed
an objection to ALCO Stores, Inc., et al.'s postpetition financing
motion.

The U.S. Trustee objects to the granting of liens to the DIP
lenders (Wells Fargo National Assoc., CIT Bank and any other banks
and financial institutions or entities from time to time parties
to the DIP Credit Agreement) liens on any bankruptcy causes of
action created under Chapter 5 of the Bankruptcy Code.

The Debtors and the DIP Lenders, the U.S. Trustee contends, have
failed to make any showing of the type of "extraordinary
circumstances," which would justify depriving unsecured creditors
of the potential for recovery from avoidance actions, which the
Debtors (or unsecured creditors) might bring, or which the
creditors themselves might exercise either pursuant to the terms
of a plan of reorganization, or otherwise.

The U.S. Trustee also objects to, among other things, (i) the
limited time period afforded to the Official Committee of
Unsecured Creditors to investigate the validity, amount,
perfection, priority and enforceability of the Debtors' lenders'
prepetition liens, and (ii) the apparent arrangement between the
Debtors, the DIP Agent, the DIP Term Agent and DIP Lenders that
would allow the invoiced fees and expenses of the DIP Agent's, the
DIP Term Agent's and the DIP Lenders professionals to be paid
without review by the U.S. Trustee, the Official Committee or the
Court.

                        About ALCO Stores

ALCO Stores, Inc., operates 198 stores in 23 states throughout the
central United States.  Alco offers 35,000 items at its stores,
which are located at smaller markets usually not served by other
regional or national broad line retail chains.  The company was
founded in 1901 as a general merchandising operation in Abilene,
Kansas.

ALCO is a public company, and its common stock is quoted on the
NASDAQ National Market tier of the NASDAQ Stock Market under the
ticker symbol "ALCS."

ALCO Stores and ALCO Holdings LLC sought Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Lead Case No. 14-34941) in Dallas,
Texas, on Oct. 12, 2014, with plans to let liquidators conduct
store closing sales or sell the business to a going-concern buyer.

Judge Stacey G. Jernigan presides over the Chapter 11 cases.

The Debtors have DLA Piper LLP (US) as counsel, Houlihan Lokey
Capital, Inc., as financial advisor, and Prime Clerk LLC as claims
and noticing agent.  Michael Moore has been named consultant to
the Debtors.

As of July 2014, ALCO Stores had assets totaling $222 million and
liabilities totaling $162 million.  The bulk of the liabilities
was total debt outstanding under a credit facility with Wells
Fargo Bank, National Association, of which the aggregate
outstanding was $104.2 million as of the Petition Date.

The U.S. Trustee for Region 6 appointed seven creditors to serve
in the official committee of unsecured creditors of ALCO Stores,
Inc.  The Law Office of Judith W. Ross serve as local counsel to
the Committee.


AMERICAN AIRLINES: Pilots, Management Continue Labor Deal Talks
---------------------------------------------------------------
Susan Carey, writing for The Wall Street Journal, reported that
American Airlines Group Inc. and the union that represents its
15,000 pilots said they would continue to negotiate terms of a
combined labor agreement, putting off for now a plan to reach a
deal through binding arbitration.

According to the report, American raised the stakes in the talks
with its main pilots union late last week, when it told the Allied
Pilots Association that it needed to agree by Nov. 21 to accept
the framework of the carrier's Nov. 11 offer to APA as the basis
for talks, not the union's later counterproposal.  The new goal,
the Journal says, is to resolve the impasse by mid-December.

As previously reported by the Troubled Company Reporter, American
Airlines and the APA continued to negotiate terms for a new, five-
year labor agreement, with the pilots asking for big raises to
compensate for the profit-sharing deal enjoyed by pilots at Delta
Air Lines Inc.  The APA countered American's proposal by asking
for a 10% pay raise instead of American's previous offer of an
average of a 3% increase over Delta's current pay rates.

                     About American Airlines

AMR Corp. and its subsidiaries including American Airlines filed
for bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-15463)
in Manhattan on Nov. 29, 2011, after failing to secure cost-
cutting labor agreements.  AMR, previously the world's largest
airline prior to mergers by other airlines, is the last of the so-
called U.S. legacy airlines to seek court protection from
creditors.  It was the third largest airline in the United States
at the time of the bankruptcy filing.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.

The bankruptcy judge on Sept. 12, 2013, confirmed AMR Corp.'s plan
to exit bankruptcy through a merger with US Airways.  By
distributing stock in the merged airlines, the plan is designed to
pay all creditors in full, with interest.

Judge Sean Lane confirmed the Plan despite the lawsuit filed by
the U.S. Department of Justice and several states' attorney
general complaining that the merger violates antitrust laws.

In November 2013, AMR and the U.S. Justice Department a settlement
of the anti-trust suit.  The settlements require the airlines to
shed 104 slots at Reagan National Airport in Washington and 34 at
LaGuardia Airport in New York.

AMR stepped out of Chapter 11 protection after its $17 billion
merger with US Airways was formally completed on Dec. 9, 2013.

                          *     *     *

The Troubled Company Reporter, on Sep. 2, 2014, reported that
Standard & Poor's Ratings Services revised its rating outlooks on
American Airlines Group Inc. (AAG) and its subsidiaries American
Airlines Inc. and US Airways Inc. to positive from stable.  At the
same time, S&P affirmed its ratings on the companies, including
the 'B' corporate credit ratings.

The TCR, on Sept. 22, 2014, reported that Standard & Poor's
Ratings Services assigned its 'A (sf)' issue rating to American
Airlines Inc.'s series 2014-1 class A pass-through certificates,
which have an expected maturity of Oct. 1, 2026.  At the same
time, S&P assigned its 'BBB- (sf)' issue rating to the company's
series 2014-1 class B pass-through certificates, which have an
expected maturity of Oct. 1, 2022.  The final legal maturity dates
will be 18 months after the expected maturity dates. American
Airlines is issuing the certificates under a Rule 415 shelf
registration.

The TCR, on the same day, reported that Moody's Investors Service
assigned a B3 (LGD5) rating to the $500 million of new five year
unsecured notes that American Airlines Group Inc. ("AAG") offered
for sale earlier. Its subsidiaries, American Airlines, Inc.
("AA"), US Airways Group, Inc. and US Airways, Inc. will guarantee
AAG's payment obligations under the indenture on a joint and
several basis. Moody's Corporate Family rating of AAG is B1 with a
stable outlook.

The TCR also reported that Fitch Ratings has assigned a rating of
'B+/RR4' to the $500 million unsecured notes to be issued by
American Airlines Group Inc. The Issuer Default Ratings (IDR) for
American Airlines Group Inc., American Airlines, Inc., US Airways
Group, Inc., and US Airways, Inc. remain unchanged at 'B+' with a
Stable Outlook.

The TCR, on Oct. 16, 2014, reported that Moody's upgraded its
ratings assigned to the Series 2001-1 Enhanced Equipment Trust
Certificate ("2001 EETCs") of American Airlines, Inc.: A-tranche
to B2 from Caa1, B-tranche to Caa3 from Ca and C-tranche to Caa3
from Ca. Moody's also affirmed all of its other ratings assigned
to American Airlines Group Inc. ("AAG"), including the B1
Corporate Family and B1-PD Probability of Default ratings, and of
American Airlines, Inc. ("AA") and US Airways Group, Inc. and its
subsidiaries, US Airways, Inc. and America West Airlines, Inc. The
outlook is stable and the Speculative Grade Liquidity Rating of
SGL-1 is unchanged. American Airlines Group Inc. guarantees
American Airlines obligations of the 2001 EETCs.


AMERICAN APPAREL: Appoints Chelsea Grayson as General Counsel
-------------------------------------------------------------
The Board of Directors of American Apparel, Inc., had appointed
Chelsea A. Grayson as executive vice president, general counsel,
and secretary of the Company, effective as of Dec. 15, 2014.

Ms. Grayson has more than 15 years of experience in private
practice as a corporate attorney with the law firms of Jones Day
and Loeb & Loeb LLP, where she was a partner in the corporate
groups of both firms.  Her experience includes private placements
of equity and debt securities for public and private companies,
joint ventures and strategic alliances, and mergers and
acquisitions for clients in a variety of industries, including
retail.  Ms. Grayson, a Los Angeles native, is a member of the
State Bar of California and received a B.A. from the University of
California, Los Angeles, and a J.D. from Loyola Law School.

Scott Brubaker, interim chief executive officer, said, "The Board
and I are delighted to welcome Chelsea Grayson to American
Apparel.  Her legal expertise and retail industry experience will
add strength and depth to our senior management team, and we are
looking forward to working with her."

Ms. Grayson replaces Tobias S. Keller, who has been serving as
Interim General Counsel since June 2014.  Mr. Keller will continue
to serve as interim general counsel until Ms. Grayson's employment
commences, at which time he has agreed to resign from such
position.

"We also want to thank Tobias Keller for his service and
contributions to American Apparel," said Brubaker.  "We appreciate
his willingness to serve temporarily as Interim General Counsel of
the Company and we wish him success in his future endeavors."

Ms. Grayson will serve for an initial term of one year, which term
will automatically extend for successive one-year periods as of
each December 15 (beginning Dec. 15, 2015) unless terminated by
the Company on at least 90 days' written notice prior to the
expiration of the then-current term.  The Employment Agreement
provides that Ms. Grayson will receive a base salary of $400,000
per year, subject to increase based on the annual review of the
Compensation Committee.

                      About American Apparel

American Apparel is a vertically-integrated manufacturer,
distributor, and retailer of branded fashion basic apparel based
in downtown Los Angeles, California.  As of Sept. 30, 2014,
American Apparel had approximately 10,000 employees and operated
245 retail stores in 20 countries including the United States and
Canada.  American Apparel also operates a global e-commerce site
that serves over 60 countries worldwide at
http://www.americanapparel.com. In addition, American Apparel
operates a leading wholesale business that supplies high quality
T-shirts and other casual wear to distributors and screen
printers.

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

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

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

The Company's balance sheet at Sept. 30, 2014, the Company had
$307.18 million in total assets, $394.78 million in total
liabilities and a $87.59 million total stockholders' deficit.

                           *     *     *

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

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

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


AMERICAN BEACON: Moody's Puts Ba2 CFR on Review for Downgrade
-------------------------------------------------------------
Moody's Investors Service has placed American Beacon Advisors,
Inc. Ba2 corporate family rating on review for downgrade. The
agency has also placed on review for downgrade the company's $170
million Term Loan B rating, and $15 million Revolving Credit
Facility rating, both rated Ba2.

The rating actions follow the announcement by American Beacon on
Nov. 21 that it will be acquired by private equity sponsors, Kelso
& Company and Estancia Capital Management. The transaction is
expected to close in the second quarter of 2015.

American Beacon, formerly owned by AMR Corporation (AMR), parent
of American Airlines, was partially sold to private equity funds
managed by Pharos Capital Group and TPG Capital. AMR still
retained a small ownership interest and American Beacon continues
to provide cash and pension management services to its former
parent. The company manages and distributes sub-advised mutual
funds for defined contribution retirement and retail investors, as
well as pension and cash management programs for AMR and other
institutional investors.

Ratings Rationale

The company asserted that the sale of American Beacon to a new
pair of private equity owners should cause no disruption to its
current operations, but it also indicated that new resources will
be deployed to accelerate its strategic growth plans. The
company's acquisition by the PE firms could potentially involve
increased leverage. American Beacon's standalone corporate family
and debt ratings will be highly dependent on the extent of these
changes. Moody's notes that the transaction, which is expected to
occur seven years after TPG and Pharos acquired the company,
should provide increased stability to American Beacon's corporate
management and business franchise, removing uncertainty regarding
its future ownership. Under the terms of its credit agreement,
American Beacon's existing loans become due and payable upon a
change of control.

American Beacon's Ba2 corporate family rating reflects the
company's relatively modest industry position among rated asset
managers, but gives particular consideration to its long operating
history, strong performance as a sponsor of sub-advised mutual
funds, consistently strong assets under management growth, and
experience as a provider of traditional pension and cash
management services to its former corporate parent, AMR, and other
investors. American Beacon's rating is also driven by its
financial profile, characterized by high financial leverage
related to its cash flow and low pre-tax income margins, resulting
from its business economics primarily as a distributor of
investment product.

The list of American Beacon's ratings following the rating action
is as follows:

Corporate family rating: Ba2 on review for downgrade

$170 million Term Loan B: Ba2 on review for downgrade

$15 million Revolving Credit Facility : Ba2 on review for
downgrade

The last rating action on American Beacon was on February 28,
2014, when all ratings were affirmed.

The principal methodology used in this rating was Asset Managers:
Traditional and Alternative published in February 2014.


AMERICAN MEDIA: Extends CFO's Employment Until March 2017
---------------------------------------------------------
American Media, Inc., and Christopher V. Polimeni, the Company's
executive vice president, chief financial officer and treasurer,
entered into Amendment No. 5 to the employment agreement, dated
March 8, 2010, as amended, by and between the Company and Mr.
Polimeni.  Pursuant to the Polimeni Amendment, the term of Mr.
Polimeni's employment with the Company was extended through
March 31, 2017, and Mr. Polimeni's annual base salary was
increased to $500,000.

                       About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., an in-store magazine merchandising
company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on Nov. 17, 2010, with a
prepackaged plan.  The Debtors emerged from Chapter 11
reorganization in December 2010, handing ownership to former
bondholders.  The new owners include hedge funds Avenue Capital
Group and Angelo Gordon & Co.

American Media incurred a net loss of $55.54 million on $348.52
million of total operating revenues for the fiscal year ended
March 31, 2013, as compared with net income of $22.29 million on
$386.61 million of total operating revenues for the fiscal year
ended March 31, 2012.

                           *     *     *

As reported by the TCR on Sept. 23, 2014, Standard & Poor's
Ratings Services raised its corporate credit rating on Boca Raton,
Fla.-based American Media Inc. to 'CCC' from 'SD' (selective
default).  The upgrade follows a review of American Media's
business and financial risk profile assessments following its
exchange of approximately $7.8 million 13.5% second-lien senior
notes due 2018 and approximately $113.3 million 10% second-lien
senior payment-in-kind (PIK) notes due 2018 for equity.

In the July 10, 2014, edition of the TCR, Moody's Investors
Service has lowered American Media, Inc.'s Corporate Family Rating
(CFR) to Caa1 from B3.  The downgrade of American Media's CFR to
Caa1 reflects Moody's expectation for lower revenue and EBITDA
resulting in higher financial leverage.


AMINCOR INC: Delays Form 10-Q for Third Quarter
-----------------------------------------------
Amincor, Inc., was unable to file its quarterly report on Form
10-Q for the quarter ended Sept. 30, 2014, within the prescribed
time without unreasonable effort or expense because the Company
and its accounting staff require additional time to complete the
financial statements and the notes thereto, according to a
regulatory filing with the U.S. Securities and Exchange
Commission.

It is anticipated that the Company will report a net loss of
approximately $4,000,000 for the quarter ended Sept. 30, 2014, as
compared to a net loss of approximately $2,400,000 for the quarter
ended Sept. 30, 2013.

                         About Amincor Inc.

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

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

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

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

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

                          Bankruptcy Warning

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


AMPLIPHI BIOSCIENCES: Posts $19.4 Million Net Income in Q3
----------------------------------------------------------
Ampliphi Biosciences Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net income of $19.38 million for the three months ended
Sept. 30, 2014, compared to a net loss of $43.90 million for the
same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported net
income of $22.76 million on $310,000 of revenue compared to a net
loss of $58.33 million on $333,000 of revenue for the same period
last year.

The Company recognized no revenues for the quarter ended Sept. 30,
2014.  For the nine month period ending Sept. 30, 2014, the
Company recognized revenues of $310,000 in revenue from
sublicensing arrangements, a decrease from $333,000 for the same
period in 2013, as a result of reduced grant revenue.

As of Sept. 30, 2014, the Company had $28.41 million in total
assets, $17.08 million in total liabilities and $11.33 million in
total stockholders' equity.

"The Company believes that its current resources will only be
sufficient to fund operations through the first quarter of 2015.
This estimate is based on the Company's ability to manage its
staffing expenses and its working capital.  Actual results could
differ from its estimates.  The Company intends to seek additional
financing in order to fund operations through 2015; however, the
Company cannot provide assurances that it will be successful in
obtaining additional financing for these periods or as needed in
the future.  If the Company does not raise additional funds by the
first quarter of 2015, it plans to implement cost reduction
measures, such as a reduction in workforce, reducing its
intellectual property prosecution, reducing other operating
activities, and/or the pursuit of alternative financing
transactions that would likely be on terms disadvantageous to the
Company and dilutive to its shareholders.  The Company could also
be required to relinquish rights to its technology or product
candidates or in-licensed technology on unfavorable terms, either
of which would reduce the ultimate value of the technology or
product candidates, or to sell assets likely at values
significantly below their potential worth.  If the Company is
unable to secure additional capital, it may be required to cease
operations, declare bankruptcy or otherwise wind-up its business."

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

                        http://is.gd/lYLlNX

                           About AmpliPhi

AmpliPhi Biosciences Corp. is a biopharmaceutical company that
develops bacteriophage-based therapeutics.  It also develops an
internally generated pipeline of naturally occurring viruses
called bacteriophage (Phage) for the treatment of bacterial
infection, such as drug-resistant strains of bacteria that are
commonly found in the hospital setting.  The company's Phage
discovery also focuses on acute & chronic lung, sinus and
gastrointestinal infections.  AmpliPhi Biosciences was founded in
March 1989 and is headquartered in Glen Allen, Virginia.

The Company reported a net loss of $57.65 million on $325,000 of
total revenue for the year ended Dec. 31, 2013, compared with a
net loss of $1.11 million on $664,000 of total revenue in 2012.

PBMares, LLP, in Richmond, Virginia, 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 losses from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.


AOXING PHARMACEUTICAL: Incurs $8,000 Net Loss in Sept. 30 Quarter
-----------------------------------------------------------------
Aoxing Pharmaceutical Company, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing a net loss attributable to the Company's
shareholders of $7,872 on $4.56 million of sales for the three
months ended Sept. 30, 2014, compared to a net loss attributable
to the Company's shareholders of $2.23 million on $3.57 million of
sales for the same period last year.

As of Sept. 30, 2014, the Company had $39.07 million in total
assets, $38.44 million in total liabilities and $631,865 in total
equity.

The Company's cash balance as of Sept. 30, 2014, was $2,343,822
compared to $2,329,660 as of June 30, 2014.  The cash balance
remained stable because the $2,287,758 in  net cash used in
operating activities during the quarter and $173,606 cash used for
property and equipment was matched by $2,470,490 in net proceeds
of our financing activities.

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

                        http://is.gd/CbmsFv

                            About Aoxing

Aoxing Pharmaceutical Company, Inc., is a Jersey City, New Jersey-
based specialty pharmaceutical company.  The Company is engaged in
the development, production and distribution of pain-management
products, narcotics and other drug-relief medicine.

In its report on the consolidated financial statements for the
year ended June 30, 2014, BDO China Shu Lun Pan Certified Public
Accountants LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company
continues to incur losses from operations, has negative cash flow
from operations and a working capital deficit.

The Company reported a net loss of $8.63 million for the fiscal
year ended June 30, 2014, compared to a net loss of $17.29 million
last year.


APPALACHIAN FUELS: Bankruptcy Court Awards $2.7MM to West Va. DEP
-----------------------------------------------------------------
A federal bankruptcy court in Kentucky issued an important
decision on Nov. 20 giving regulators a strong hand in enforcing
environmental laws against bankrupt coal companies.  As part of
the decision, the court awarded the West Virginia Department of
Environmental Protection (DEP) over $2.7 million to address
reclamation of an abandoned coal mine in Fayette County, West
Virginia.

Bailey & Glasser attorneys Kevin Barrett and Mike Hissam
represented the DEP in pursuing claims from the bankruptcy estate
of Appalachian Fuels LLC.  The claims consisted of environmental
penalties, as well as the costs of ongoing reclamation and water
treatment at the abandoned site.  The case went to trial in
bankruptcy court in Louisville in June 2014.  After a three-day
trial, the bankruptcy court issued a lengthy opinion yesterday
granting DEP's administrative expense application in full.

The bankruptcy court held that Appalachian Fuels had to perform
the reclamation obligations of its subsidiary which held the
permits, given that Appalachian Fuels had always performed the
mining and reclamation obligations at the mine site.  Second, the
bankruptcy court held that DEP's claims were entitled to
"administrative expense priority," despite the fact that DEP had
not incurred any reclamation costs during the pendency of the
bankruptcy case and would not incur significant reclamation costs
until years later.  In accordance with the decision, the court
granted the DEP an administrative claim totaling more than $2.7
million, including up to $1.9 million in reclamation and water
treatment costs and over $700,000 in penalties.

"With the rise of significant coal company bankruptcy cases in the
past two years, and with others on the horizon in a tough coal
market, the decision imposes broader corporate responsibility for
environmental legacy liabilities.  It also makes clear that the
responsibility to remediate environmental issues doesn't end upon
the commencement of a bankruptcy case and, indeed, may give rise
to significant priority claims that a coal company must satisfy as
a condition to reorganizing in chapter 11.  The combination gives
federal and state environmental regulators a stronger hand in coal
company bankruptcy cases," said Kevin Barrett, a bankruptcy
attorney at Bailey & Glasser's New York office.

Founded by Ben Bailey and Brian Glasser in 1999 in Charleston,
West Virginia, Bailey & Glasser LLP has grown to include nearly 50
lawyers, with offices in seven states and D.C.  The firm's complex
litigation practice focuses on high-stakes commercial litigation;
class actions for consumers, insureds, investors, and retirement
plan participants; catastrophic injury and defective product
cases; antitrust; and whistleblower lawsuits.  The firm has
extensive experience in energy law, and litigates energy cases in
trial courts, bankruptcy courts, regulatory agencies, and
appellate courts.  It has a major corporate practice, and handles
business matters ranging from assisting Chinese investors in
acquiring US assets, to IPOs, to the negotiation and execution of
billions of dollars in commercial transactions.

                      About Appalachian Fuels

Ashland, Kentucky-based Appalachian Fuels, LLC, a coal mining
company, produced and sold coal for electric utilities and coking
coal plants.  It had surface mines and underground mining
operations in eastern Kentucky and West Virginia.  Appalachian
Fuels operated as a subsidiary of Energy Coal Resources, Inc.

An involuntary petition for liquidation under Chapter 7 was filed
against Appalachian Fuels (Bankr. E.D. Ky. 09-10343) on June 11,
2009.  On June 29, 2009, the Bankruptcy Court converted the
Debtor's Chapter 7 bankruptcy to a Chapter 11.

Some of Appalachian Fuels' affiliates filed Chapter 11 petitions
and on July 17, 2009, the Court ordered that the Debtor's Chapter
11 bankruptcy be jointly administered with the bankruptcies of its
affiliates.  The cases being jointly administered with Appalachian
Fuels include: Appalachian Holding Company, Inc. (Case No.
09-10372); Appalachian Premium Fuels, LLC (Case No. 09-10373);
Appalachian Environmental, LLC (Case No. 09-10374); Kanawha
Development Corporation (Case No. 09-10375); Appalachian Coal
Holdings, Inc. (Case No. 09-10405); and Southern Eagle Energy, LLC
(Case No. 09-10406).

On July 14, 2009, the Court appointed the Official Committee of
Unsecured Creditors.

On Dec. 19, 2011, the Court entered an Agreed Order of
Confirmation of the Debtors' and Committees' Plan of Orderly
Liquidation and Distribution.  Pursuant to the terms of the Plan,
on the Jan. 3, 2012, effective date, the Official Committee of
Unsecured Creditors was dissolved and the App Fuels Creditors
Trust was established.  A Liquidating Trustee was appointed to
continue pursuit of causes of action on behalf of the Debtor.

Larry Addington, which owns a 30% stake in Energy Coal Resources
Inc., filed for personal Chapter 11 bankruptcy (Bankr. E.D. Ky.
Case No. 12-10029) on Jan. 26, 2012.


ARCHDIOCESE OF ST. PAUL: Fin'l Situation Due to Litigation Costs
----------------------------------------------------------------
Molly Bloom, Meg Martin and Madeleine Baran, writing for
Mprnews.org, reports that the Archdiocese of St. Paul-Minneapolis
blamed its uncertain financial situation on the costs of clergy
sex abuse litigation and the growing potential for more lawsuits
by victims.

As reported by the Troubled Company Reporter on Oct. 24, 2014,
Kate Raddatz, writing for CBS Minnesota, reported that the
Archdiocese, along with the Diocese of Winona, said they were
considering all options to pay for the settlement in clergy sex
abuse lawsuits, including bankruptcy.

The Archdiocese's chief financial officer, Thomas Mertens, said in
a statement accompanying the 2014 financial report that bankruptcy
"would be a way to respond to all victims/survivors by allowing
the available funds to be equitably distributed to all who have
made claims, not just those who have the earliest trial dates or
settlements."

The archdiocese hasn't decided whether it will file for bankruptcy
or not, Mprnews.org relates, citing Mr. Mertens.

Citing the Archdiocese, Mprnews.org relates that about $5 million
in costs directly related to the clergy sex abuse scandal.
Mprnews.org recalls that a new state law opened up last year the
statute of limitations for bringing lawsuits for older claims of
abuse.  According to the report, victims have three years -- until
2016 -- to bring their lawsuits.  The report states that of the $5
million, the Archdiocese said it lost about $1 million on software
that didn't meet the standards of a clergy abuse task force.  The
report adds that the rest was spent on reviewing priest files,
investigating the Archdiocese's insurance coverage for lawsuits
and analyzing its financial options.

According to Mprnews.org, the latest report for the fiscal year
that ended on June 30, 2014, shows an operating deficit of about
$9.1 million for the 2014 fiscal year -- the Archdiocese's total
assets of about $32.5 million dropped about $8 million from the
previous year.

Mprnews.org reports that the Archdiocese has changed how it takes
in donations.  The Archdiocese, according to the report, created
in 2013 a legally separate foundation to handle the donations it
receives from parishes.  The report explains that the church moved
the money that would have shown up in earlier financial reports
off its books and into a legally separate entity, and that shift
shows up on the Archdiocese's balance sheet as a loss of about
$3.7 million.

Mprnews.org relates that Archbishop John Nienstedt assured
parishioners that the finances won't directly affect parishes or
other Catholic institutions.  The report says that since much of
the money that sustains the Archdiocese and its programs is housed
in legally separate entities, it can attempt to protect its assets
and fundraising.


ARISTA POWER: Posts $524,000 Net Income in Third Quarter
--------------------------------------------------------
Arista Power, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $523,663 on $250,231 of sales for the three months ended
Sept. 30, 2014, compared to a net loss of $1.04 million on
$578,689 of sales for the same period a year ago.

For the nine months ended Sept. 30, 2014, the Company reported net
income of $1.59 million on $541,675 of sales compared to a net
loss of $3.07 million on $1.01 million of sales for the same
period during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $2.09
million in total assets, $3.56 million in total liabilities and a
$1.47 million total stockholders' deficit.

"Due to the uncertainty of our ability to meet our current
operating expenses, in their report on our audited annual
financial statements as of and for the years ended December 31,
2013 and 2012, our independent auditors included an explanatory
paragraph regarding concerns about our ability to continue as a
going concern.  Our financial statements contain additional note
disclosures describing the circumstances that led to this
disclosure by our independent auditors.  There is substantial
doubt about our ability to continue as a going concern as the
continuation and expansion of our business is dependent upon
obtaining further financing, successful and sufficient market
acceptance of our products, and achieving a profitable level of
operations," the Company stated in the Report

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

                        http://is.gd/LkkVto

                         About Arista Power

Rochester, N.Y.-based Arista Power, Inc., is a developer,
manufacturer, and supplier of custom-designed power management
systems, renewable energy storage systems, and a supplier and
designer of solar energy systems.

Arista Power reported a net loss of $3.27 million on $2.19 million
of sales for the year ended Dec. 31, 2013, as compared with a net
loss of $3.48 million on $1.99 million of sales for the year ended
Dec. 31, 2012.

EFP Rotenberg, LLP, in Rochester, 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's recurring losses have resulted in an
accumulated deficit and ongoing operation is dependent upon
improved results from operation and additional financing.  These
conditions raise substantial doubt about its ability to continue
as a going concern.

                         Bankruptcy Warning

"We may also seek additional financing to accelerate our growth.
If we raise additional funds through the issuance of equity or
convertible debt securities, the percentage ownership of the
Company held by existing shareholders will be reduced and our
shareholders may experience significant dilution.  In addition,
new securities may contain rights, preferences or privileges that
are senior to those of our common stock.  If we raise additional
capital by incurring debt, this will result in increased interest
expense.  There can be no assurance that acceptable financing
necessary to further implement our plan of operation can be
obtained on suitable terms, if at all.  Our ability to develop our
business could suffer if we are unable to raise additional funds
on acceptable terms, which would have the effect of limiting our
ability to increase our revenues, develop our products, attain
profitable operations, or even may result in our business filing
for bankruptcy protection or otherwise ending our operations which
could result in a significant or complete loss of your
investment," the Company said in the Annual Report for the year
ended Dec. 31, 2013.


ATTACHMATE CORP: S&P Withdraws 'B' CCR Following Acquisition
------------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its
ratings, including the 'B' corporate credit rating, on Seattle-
based software company Attachmate Corp. after U.K.-based software
provider Micro Focus International PLC acquired the company.

Attachmate's borrowings on its senior secured credit facilities
were repaid concurrent with the acquisition's closing.


AVALON HOME HEALTH: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Avalon Home Health, Inc.
        2009 Independence
        Sherman, TX 75090

Case No.: 14-42450

Nature of Business: Health Care

Chapter 11 Petition Date: November 21, 2014

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Martin K. Thomas, Esq.
                  P.O. Box 36528
                  Dallas, TX 75235
                  Tel: (214) 951-9466
                  Fax: (214) 951-9007
                  Email: thomas12@swbell.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by James C. Morrison, president.

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


BAYAMON SMH CORP: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Bayamon SMH Corporation
           dba Hato Rey X-Ray & Imaging Center
        PMB 647
        Ave. Luis Vigoreaux 1354
        Guaynabo, PR 00966

Case No.: 14-09661

Nature of Business: Health Care

Chapter 11 Petition Date: November 22, 2014

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Brian K. Tester

Debtor's Counsel: Teresa M Lube Capo, Esq.
                  LUBE & SOTO LAW OFFICES PSC
                  1130 Ave FD Roosevelt
                  San Juan, PR 00920-2906
                  Tel: 787-722-0909
                  Fax: 787-977-1709
                  Email: lubeysoto@gmail.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joanne Marin Favale, MD, DABR,
president.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb14-09661.pdf


BIOLIFE SOLUTIONS: Walter Villiger Had 39.2% Stake at Oct. 30
-------------------------------------------------------------
Between September 1 and October 7 of 2014, WAVI Holding AG
purchased 166,352 shares of BioLife Solutions, Inc.'s common
stock.  During the remaining month of October 2014, WAVI purchased
an additional 57,392 shares of the  Company's common stock.

As of Oct. 7, 2014, Walter Villiger beneficially owned 5,467,322
shares of the Company, consisting of 3,475,825 shares of common
stock held indirectly through WAVI, 214,286 shares of common stock
issuable upon exercise of warrants held directly, and 1,777,211
shares of common stock issuable upon exercise of warrants held
indirectly through WAVI.  Those shares represent a total of 38.9%
of the Company's outstanding shares of common stock.

As of Oct. 30, 2014, Walter Villiger beneficially owned 5,524,714
shares of the Company, consisting of 3,533,217 shares of common
stock held indirectly through WAVI, 214,286 shares of common stock
issuable upon exercise of warrants held directly, and 1,777,211
shares of common stock issuable upon exercise of warrants held
indirectly through WAVI.  Those shares represent a total of 39.2%
of the Company's outstanding shares of common stock.

As of Oct. 7, 2014, WAVI beneficially owned 5,253,036 shares of
the Issuer, consisting of 3,475,825 shares of common stock and
1,777,211 shares of common stock issuable upon exercise of
warrants.  Those shares represent a total of 38% of the Company's
outstanding shares of common stock.

As of Oct. 30, 2014, WAVI beneficially owned 5,310,428 shares of
the Issuer, consisting of 3,533,217 shares of common stock and
1,777,211 shares of common stock issuable upon exercise of
warrants.  Those shares represent a total of 38.3% of the
Company's outstanding shares of common stock.

A full-text copy of regulatory filing is available at:

                        http://is.gd/06Nwx3

                      About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc., develops and
markets patented hypothermic storage and cryo-preservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.

BioLife Solutions incurred a net loss of $1.08 million in 2013,
a net loss of $1.65 million in 2012, and a net loss of $1.95
million in 2011.

As of Sept. 30, 2014, the Company had $14.25 million in total
assets, $1.58 million in total liabilities and $12.66 million in
total shareholders' equity.


BERRY PLASTICS: Posts $29 Million Net Income in Fourth Quarter
--------------------------------------------------------------
Berry Plastics Group, Inc., reported net income attributable to
the Company of $29 million on $1.31 billion of net sales for the
quarter ended Sept. 27, 2014, compared to net income attributable
to the Company of $26 million on $1.20 billion of net sales for
the period ended Sept. 28, 2013.

For the fiscal year ended Sept. 27, 2014, the Company reported net
income attributable to the Company of $62 million on $4.95 million
of net sales compared to net income attributable to the Company of
$57 million on $4.64 million of net sales for the fiscal year
ended Sept. 28, 2013.

As of Sept. 27, 2014, the Company had $5.26 billion in total
assets, $5.38 billion in total liabilities and non-controlling
interest and a $114 million stockholders' deficit.

"In the September 2014 quarter we reported record sales for any
quarterly period in the Company's history.  We generated Operating
EBITDA of $210 million, which was an 8 percent increase versus the
same prior year period, in the face of continued weak packaged
food demand and higher raw material costs," said Jon Rich,
Chairman and CEO of Berry Plastics.  "Our adjusted free cash flow
for fiscal year 2014 totaled $302 million, an increase of 27
percent versus the fiscal year 2013 total of $238 million."

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

                       http://is.gd/2KlOG2

                       About Berry Plastics

Berry Plastics Corporation manufactures and markets plastic
packaging products, plastic film products, specialty adhesives and
coated products.  At Jan. 2, 2010, the Company had more than 80
production and manufacturing facilities, primarily located in the
United States.  Berry is a wholly-owned subsidiary of Berry
Plastics Group, Inc.  Berry Group is primarily owned by affiliates
of Apollo Management, L.P., and Graham Partners.  Berry, through
its wholly owned subsidiaries operates five reporting segments:
Rigid Open Top, Rigid Closed Top, Flexible Films, Tapes/Coatings
and Specialty Films.  The Company's customers are located
principally throughout the United States, without significant
concentration in any one region or with any one customer.

On Dec. 3, 2009, Berry Plastics obtained control of 100 percent of
the capital stock of Pliant upon Pliant's emergence from
reorganization pursuant to a proceeding under Chapter 11 for a
purchase price of $602.7 million.  Pliant is a leading
manufacturer of value-added films and flexible packaging for food,
personal care, medical, agricultural and industrial applications.
The acquired business is primarily operated in Berry's Specialty
Films reporting segment.

                           *     *     *

As reported by the TCR on Feb. 1, 2013, Moody's Investors Service
upgraded the corporate family rating of Berry Plastics to B2 from
B3 and the probability of default rating to B2-PD from B3-PD.  The
upgrade of the corporate family rating to B2 from B3 reflects
the improvement in pro-forma credit metrics and management's
publicly stated goal to pursue a less aggressive, more balanced
financial profile.

In November 2011, Standard & Poor's Ratings Services affirmed the
'B-' corporate credit rating on Berry and its holding company
parent, Berry Plastics Group Inc.  "The ratings on Berry reflect
the risks associated with the company's highly leveraged financial
profile and acquisition- driven growth strategy as well as its
fair business risk profile," said Standard & Poor's credit analyst
Cynthia Werneth.


BOOMERANG SYSTEMS: Issues Options to Executive & Directors
----------------------------------------------------------
Boomerang Systems, Inc., issued to Mark Patterson, chief executive
officer of the Company, and Chris Mulvihill, president of the
Company, non-plan options to purchase 471,719 and 176,894 shares
of Common Stock of the Company, respectively, in lieu of accrued
and unpaid cash compensation of $334,286 and $125,357,
respectively.  The exercise price for the Option Awards is $2.15
per share.  The Option Awards vest immediately and expire on
Nov. 17, 2019.

On Nov. 17, 2014, the Company granted to each of Joseph
Bellantoni, Kevin Cassidy, Maureen Cowell, David Koffman and
Anthony Miele, III, the Company's non-executive directors, options
to purchase 25,000 shares of Common Stock of the Company.  The
options are exercisable at a price of $2.15 per share.  The
options vest as to one-third of the shares immediately, and one-
third of the shares on each of Nov. 17, 2015, and 2016 and expire
on Nov. 17, 2019.

                      About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(Pink Sheets: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.

Boomerang Systems incurred a net loss of $11.22 million for the
year ended Sept. 30, 2013, following a net loss of $17.42 million
for the year ended Sept. 30, 2012.

As of June 30, 2014, the Company had $5.54 million in total
assets, $24.56 million in total liabilities and a $19.02 million
total stockholders' deficit.

                         Bankruptcy Warning

"Our operations may not generate sufficient cash to enable us to
service our debt.  If we were to fail to make any required payment
under the Loan Agreement, notes and agreements governing our
indebtedness or fail to comply with the covenants contained in the
Loan Agreement, notes and agreements, we would be in default.  A
debt default could significantly diminish the market value and
marketability of our common stock and could result in the
acceleration of the payment obligations under all or a portion of
our consolidated indebtedness, or a renegotiation of our Loan
Agreement with more onerous terms and/or additional equity
dilution.  If the debt holders were to require immediate payment,
we might not have sufficient assets to satisfy our obligations
under the Loan Agreement, notes or our other indebtedness.  It may
also enable their lenders under the Loan Agreement to foreclose on
the Company's assets and/or its ownership interests in its
subsidiaries.  In such event, we could be forced to seek
protection under bankruptcy laws, which could have a material
adverse effect on our existing contracts and our ability to
procure new contracts as well as our ability to recruit and/or
retain employees.  Accordingly, a default could have a significant
adverse effect on the market value and marketability of our common
stock," the Company said in the annual report for the year ended
Sept. 30, 2013.


BRAFFITS CREEK: Secured Creditor Wins Confirmation of Plan
----------------------------------------------------------
Bankruptcy Judge Laurel E. Davis confirmed Plan of Reorganization
for Braffits Creek Estates, LLC, as amended, modified or
supplemented, filed by secured creditor Cohen Braffits Estates
Development, LLC.

The objection filed by Iron County has been resolved.  There were
no other objections to confirmation of the Plan.

On Oct. 7, 2014, the Plan Proponent entered into an agreed order
resolving objection to confirmation and prepetition claim of Iron
County Treasurer.

Iron County claims that, as of Sept. 3, 2014, it is owed
$1,728,456 on account of prepetition property taxes, including
penalties and interest, which claim is entitled to priority
treatment under the Bankruptcy Code.

The Parties negotiated a consensual compromise and settlement of
all disputes concerning the Iron County Prepetition Claim and the
Iron County objection to avoid the cost, uncertainty and delay of
a protracted litigation.

The stipulation provides that, among other things:

   1. the Iron County Prepetition Claim will be amended, allowed
and paid in accordance with these terms:

   a. CBED will receive a 50% discount on the $538,842 in
      accrued fees and penalties asserted as part of the Iron
      County Prepetition Claim.

   b. The Iron County Prepetition Claim will be amended and
      allowed in the reduced amount of $1,454,034.

   c. On the Effective Date of the Plan, CBED will prepay to Iron
      County a total of six months' worth of payments on account
      of the Amended Iron County Prepetition Claim, for a total
      initial payment of $242,339, and will continue to make
      prepayments every six months thereafter, commencing on
      March 15, 2015, until the Amended Iron County Prepetition
      Claim is satisfied in full.

   d. Interest will accrue on the Amended Iron County Prepetition
      Claim at a rate of seven percent per annum.

   e. CBED will have the exclusive option, at any time while the
      stipulation is in effect, to prepay the entire balance of
      the Amended Iron County Prepetition Claim, without penalty.

   2. CBED agrees and stipulates that, should a breach by CBED of
any agreement in the stipulation occur, including but not limited
to a payment default, and if CBED fail to cure the breach within
the time period specified in Iron County's written notice of
default -- but in no event less than 30 days after receipt of the
written notice of default from Iron County -- then Iron County may
file with the Bankruptcy Court a declaration and proposed order
lifting the automatic stay which may be entered without further
notice or hearing.

As reported in the Troubled Company Reporter on May 14, 2014,
Cohen Braffits filed on April 25 a bankruptcy-exit plan and
disclosure statement for the Debtor.  Matthew L. Johnson, Esq., at
Johnson & Gubler, P.C., in Las Vegas, Nevada, related that Cohen's
plan provides for two classes of priority claims, one class of
secured claims, one class of unsecured claims, and one class of
equity security holders.  Under the plan, Cohen will take
ownership of 100% of the equity of reorganized Braffits.

   Class         Description
   -----         -----------
   Class 1       Administrative Claims and Priority Claims
   Class 2       Secured Tax Claims
   Class 3       Cohen Secured Claim
   Class 4       Allowed Unsecured Claims
   Class 5       Class of Equity Security Interest Holders

Braffits owns 2,654 acres of partially developed land known as
Braffits Creek Estates, located between Brian Head, Utah and in
Cedar City, Utah, up Summit Canyon.

Cohen has a first lien on Braffits Creek Estates. Cohen believes
that this represents substantially all of Braffits' assets.

The property secures a claim of $67 million held by Cohen. The
property is also subject to a tax lien held by Iron County, Utah
arising out of failure to pay prepetition property taxes.

Iron County asserts $1,527,724 in prepetition property taxes, and
another $432,223 in postpetition property taxes. Cohen, however,
disputes the amount of the tax claims and will seek a
determination by the United States Bankruptcy Court for the
District of Nevada regarding the proper amount of that claim.

Braffits had noted that the property is worth about $25 million
but Cohen believes that the actual value is far lower. The
property is subject to secured claims of Cohen and Iron County in
excess of $68 million, leaving negative equity of over $40
million.

Payments and distributions under the plan will be funded primarily
by Cohen. Cohen believes that without its contribution, general
unsecured creditors would receive no distribution on account of
their allowed claims.

Under Cohen's plan, Cohen's loan will be restructured and set at
the fair market value of the property and the balance of its
deficiency claim will be deemed unsecured.

The plan proposes to pay Iron County the amount of its prepetition
tax claim, as determined by the Court, over the course of three
years and four months. The plan further proposes to pay Iron
County the full amount of its allowed postpetition tax claim as
soon as practicable after the later of the effective date and the
Court's ruling regarding the allowed amount of that claim. The
Court has previously entered an Order requiring postpetition taxes
to be paid by September 10, 2014.

Unsecured creditors will receive all of the avoidance actions, and
other litigation, if any, held by Braffits, and $10,000 from Cohen
to fund a liquidating trust. The plan also provides for the 100%
payment of all administrative expenses, including fees payable to
the Office of the United States Trustee and priority claims, upon
the later of the effective date or a Court order allowing the
claim.

                   About Braffits Creek Estates

Braffits Creek Estates LLC filed for Chapter 11 protection (Bankr.
D. Nev. Case No. 12-19780) on Aug. 23, 2012.  Bankruptcy Judge
Bruce A. Markell presides over the case.  David J. Winterton, &
Assoc., Ltd., represents the Debtor in its restructuring effort.
The Debtor disclosed $25,003,800 in assets and $33,959,140 in
liabilities as of the Chapter 11 filing.


CALMARE THERAPEUTICS: Incurs $1.2-Mil. Net Loss in Third Quarter
----------------------------------------------------------------
Calmare Therapeutics Incorporated filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $1.22 million on $400,000 of product
sales for the three months ended Sept. 20, 2014, compared to a net
loss of $602,209 on $290,042 of product sales for the same period
in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $2.74 million on $937,080 of product sales compared to
a net loss of $2.06 million on $426,142 of product sales for the
same period last year.

As of Sept. 30, 2014, the Company had $4.53 million in total
assets, $11.79 million in total liabilities and a $7.25 million
total shareholders' deficit.

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

                        http://is.gd/esUqhy

                     About Calmare Therapeutics

Calmare Therapeutics Incorporated, formerly known as Competitive
Technologies, Inc., provides distribution, patent and technology
transfer, sales and licensing services focused on the needs of its
customers and matching those requirements with commercially viable
product or technology solutions.  Sales of the Company's
Calmare(R) pain therapy medical device continue to be the major
source of revenue for the Company.

On Aug. 20, 2014, Competitive Technologies, Inc. changed its name
to Calmare Therapeutics Incorporated.

Competitive Technologies incurred a net loss of $3 million on
$546,139 of gross profit from product sales in 2012, as compared
with a net loss of $3.59 million on $1.86 million of gross profit
from product sales in 2011.

Mayer Hoffman McCann CPAs (The New York Practice of Mayer Hoffman
McCann P.C.), in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2012.  The independent auditors noted that at Dec. 31,
2012, the Company has incurred operating losses since fiscal year
2006.


CASH STORE: Obtains Stay Extension & Additional DIP Financing
-------------------------------------------------------------
The Cash Store Financial Services Inc. on Nov. 24 disclosed that
it has obtained an order from the Ontario Superior Court of
Justice (Commercial List) granting a stay extension under its
current Companies' Creditors Arrangement Act proceedings to
February 27, 2015.

The Court also authorized the Company and its subsidiaries to
enter into the Third Amending Agreement to the Amended and
Restated Debtor-in-Possession Term Sheet pursuant to which an
additional loan in the aggregate amount of $7 million will be
available to the Company.  The amounts made available under the
Third Amended DIP Facility are required to provide urgent and
necessary liquidity in order to continue going concern operations
and continue the sale process in an effort to maximize value for
stakeholders.

On October 9, 2014 the Company announced that it had entered into
a binding agreement to sell a portion of its business and assets
to National Money Mart Company.  The Agreement and the completion
of the Transaction remain subject to Court approval in Canada,
certain regulatory approvals and the satisfaction of certain
closing conditions customary to transactions of this nature.  The
current expectation is that the transaction will be completed in
early 2015, following Court and regulatory approval.

The Court also approved the Eleventh Report of the Monitor, FTI
Consulting Canada Inc., dated October 10, 2014.  A copy of this
report, as well as other orders of the Court, including details on
the sales process, as well as other details regarding the
Company's CCAA proceedings is available on the Monitor's website
at http://cfcanada.fticonsulting.com/cashstorefinancial

Cash Store Financial remains open for business and will continue
to provide updates on its restructuring and the Cash Store Sale
Process as matters advance.

                    About Cash Store Financial

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

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

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


CATALENT PHARMA: S&P Retains 'BB-' CCR Following $180MM Tack-On
---------------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings on
Somerset, N.J.-based pharmaceutical industry service provider
Catalent Pharma Solutions Inc., including its 'BB-' corporate
credit rating and 'BB' senior secured issue-level rating, are not
affected by the company's proposed issuance of a $180 million
tack-on to its existing senior secured term loan.  The recovery
rating on this debt remains '2', reflecting S&P's expectation for
substantial (70% to 90%) recovery in the event of payment default.
The incremental debt issuance is being used to repay a small
amount of unsecured debt, as well as to repay revolver borrowings
incurred to fund two recent acquisitions.

S&P's ratings on Catalent reflect S&P's expectation that the
company will sustain leverage in the high-4x range and funds from
operations to debt in at least the low-teens, consistent with an
"aggressive" financial risk profile.  While S&P do not expect to
see further debt prepayment, it believes that leverage will
decline modestly over time from EBITDA growth.  The recent
acquisitions of Micron Technologies and Redwood Bioscience are
consistent with S&P's expectation that the company will use
internally generated cash flow and debt capacity to make small
tuck-in acquisitions.

S&P's ratings on Catalent also reflect the company's narrow focus
as a provider of services to the pharmaceutical industry as well
as its capital intensity, its industry-leading position in the
heavily regulated outsourced pharmaceutical manufacturing space,
its diverse service offering, its well-diversified customer base,
and long-term contractual agreements that support business
stability.  These factors support S&P's assessment of a
"satisfactory" business risk profile.

S&P's 'BB-' rating reflects a one-notch negative adjustment for
its comparable ratings analysis.  S&P made this adjustment because
it believes leverage will remain at the weaker end of the
aggressive category, and ongoing sponsor involvement adds a degree
of uncertainty to financial policies on an ongoing basis.

RATINGS LIST

Ratings Unchanged

Catalent Pharma Solutions Inc.
Corporate Credit Rating           BB-/Stable/--
Senior Secured                    BB
  Recovery Rating                  2


CEETOP INC: Delays Form 10-Q for Third Quarter
----------------------------------------------
Ceetop Inc. filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the period ended
Sept. 30, 2014.  The company was not able to file the Form 10-Q
within the prescribed time period because management has not
completed the process of gathering and analyzing the financial
information that will be included in that Report, according to a
regulatory filing.

                         About Ceetop Inc.

Oregon-based Ceetop Inc., formerly known as China Ceetop.com,
Inc., owned and operated the online retail platform before 2013.
Due to excessive competition in online retail, the Company has
transformed itself into an integrated supply chain services
provider, and focuses on B to B supply chain management and
related value-added services among enterprises.

Ceetop reported a net loss of $2.88 million in 2013 following a
net loss of $1.39 million in 2012.  As of June 30, 2014, the
Company had $2.50 million in total assets, $544,913 in total
liabilities, all current, and $1.95 million in total stockholders'
equity.

Clement C. W. Chan & Co., in Hong Kong, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company incurred a net loss of $2,886,599 for the year ended
December 31, 2013, has accumulated deficit of $8,605,635 at
December 31, 2013.  These matters are discussed in Note 2 to the
consolidated financial statements that raises substantial doubt
about the Company's ability to continue as a going concern.


CHINA GINSENG: Reports $571,000 Net Loss for Third Quarter
----------------------------------------------------------
China Ginseng Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $571,193 on $5,242 of revenue for the three months
ended Sept. 30, 2014, compared to a net loss of $255,882 on
$62,393 of revenue for the same period in 2013.

As of Sept. 30, 2014, the Company had $8.91 million in total
assets, $14.82 million in total liabilities and a $5.91 million
total stockholders' deficit.

The Company said there are existing uncertain conditions it
foresees relating to its ability to obtain working capital and
operate successfully.  Management's plans include the raising of
capital through the debt and equity markets to fund future
operations and the generation of revenue through its businesses.
The Company added that failure to raise adequate capital and
generate adequate sales revenue could result in the Company having
to curtail or cease operations.

"Additionally, even if the Company does raise sufficient capital
to support its operating expenses and generate adequate revenues,
there can be no assurance that the revenue will be sufficient to
enable the Company to develop business to a level at which it will
generate profits and cash flow from operations.  These matters
raise substantial doubt about the Company's ability to continue as
a going concern.  However, the accompanying financial statements
have been prepared on a going concern basis, which contemplates
the realization of assets and satisfaction of liabilities in the
normal course of business.  These consolidated financial
statements do not include any adjustments relating to the recovery
of the recorded assets or the classification of the liabilities
that might be necessary should the Company be unable to continue
as a going concern."

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

                        http://is.gd/ykWw1c

                        About China Ginseng

Changchun City, China-based China Ginseng Holdings, Inc., conducts
business through its four wholly-owned subsidiaries located in
China.  The Company has been granted 20-year land use rights to
3,705 acres of lands by the Chinese government for ginseng
planting and it controls, through lease, approximately 750 acres
of grape vineyards.  However, recent harvests of grapes showed
poor quality for wine production which indicates that the
vineyards are no longer suitable for planting grapes for wine
production.  Therefore, the Company has decided not to renew its
lease for the vineyards with the Chinese government upon
expiration in 2013 and, going forward, it intends to purchase
grapes from the open market in order to produce grape juice and
wine.

China Ginseng reported a net loss of $4.76 million on $2.61
million of revenue for the year ended June 30, 2014, compared to a
net loss of $3.64 million on $3.56 million of revenue for the year
ended June 30, 2013.

Cowan, Gunteski & Co., P.A., in Tinton Falls, NJ, issued a "going
concern" qualification on the consolidated financial statements
for the year ended June 30, 2014.  The independent auditors noted
that the Company has incurred an accumulated deficit of
$14,169,335 since inception, has a working capital deficit of
$11,616,962, and there are existing uncertain conditions the
Company faces relative to its ability to obtain working capital
and operate successfully.  These conditions raise substantial
doubt about its ability to continue as a going concern.


CLEAREDGE POWER: Wants to Hire KS & Co as Auditors
--------------------------------------------------
ClearEdge Power, Inc. and its debtor-affiliates ask permission
from the Hon. Charles Novack of the U.S. Bankruptcy Court for the
Northern District of California to employ Kieckhafer, Schiffer &
Company LLP as auditors.

KS & Co. will audit the Debtors' 401(k) plan, including the
related financial statements and the statement of changes and
notes related thereto.

The Debtors have agreed with KS & Co. that, subject to the Court's
approval, the Debtors will pay to KS & Co., upon the completion of
the Audit Services, a fixed fee in the amount of $15,000.

In the event that KS & Co. may provide services which exceed the
scope of the Audit Services, it will charge fees on an hourly
basis for such services at the rates set forth below:

       Partner                    $225-$295
       Director/Manager           $190-$225
       Senior Accountant          $145-$190
       Staff Accountant           $95-$145

In the 90 days prior to the commencement of the Chapter 11 cases,
the Debtors paid to KS & Co. amounts totaling $10,000 for audit
services rendered by KS & Co. to the Debtors.

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

KS & Co. can be reached at:

       Gregory A. Fletcher
       KIECKHAFER, SCHIFFER & COMPANY LLP
       111 SW Fifth Ave., Suite 1850
       Portland, OR 97204
       Tel: (503) 963-4718
       E-mail: gfletcher@ksandco.com

                        About ClearEdge Power

Sunnyvale, California-based ClearEdge Power Inc. and two other
affiliates filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Cal. Lead Case No. 14-51955) on May 1, 2014, in San Jose.
Affiliates ClearEdge Power, LLC, and ClearEdge Power International
Service, LLC, are based in South Windsor, Connecticut, where the
manufacturing operations are located.

Privately held ClearEdge designs, manufactures, sells and services
distributed generation fuel cell systems for commercial,
industrial, utility and residential applications.  ClearEdge
bought United Technologies Corp.'s UTC Power division in late
2012.  ClearEdge sought bankruptcy protection just a week after
shutting operations.

John Walshe Murray, Esq., at Dorsey and Whitney LLP, serves as
counsel to the Debtors.  Insolvency Services Group, Inc., serves
as noticing and claims agent.

ClearEdge Power disclosed $31,271,670 in assets and $67,414,779 in
liabilities as of the Chapter 11 filing.

Power Inc. estimated $100 million to $500 million in both assets
and debts.

The petitions were signed by David B. Wright, chief executive
officer.

On May 22, 2014, the U.S. Trustee for Region 17 appointed five
creditors to serve in the Committee.  The Committee has hired
Brown Rudnick as Counsel and Teneo Securities as financial
advisors.


CLEAREDGE POWER: Hires BDO as Accountants
-----------------------------------------
ClearEdge Power, Inc. and its debtor-affiliates ask for permission
from the Hon. Charles Novack of the U.S. Bankruptcy Court for the
Northern District of California to employ BDO USA, LLP as
accountants.

The Debtors require BDO to:

   (a) prepare and file the Debtors' U.S. federal income tax
       returns and certain state income and franchise tax returns
       for the Debtors 2013 and 2014 fiscal years (the "Tax
       Preparation Services"), and prepare related schedules as
       necessary;

   (b) in connection with the preparation of the Debtors' FY2013
       tax return, perform an analysis of the bargain purchase
       calculation with respect to the acquisition of UTC Power,
       Inc. and impact to the FY2013 tax return (the "Purchase
       Calculation Analysis" and, together with the Tax
       Preparation Services, the "Current Services"); and

   (c) provide routine additional tax advice and assistance
       concerning issues as requested by the Debtors, which
       projects, if any, shall be set forth in a separate addendum
       to the Agreement.

The Debtors have agreed with BDO that, subject to the Court's
approval, the Debtors will pay to BDO, upon the completion and
filing of the respective tax returns for each fiscal year, a fixed
fee for the Current Services comprised of:

   -- a $62,400 base fee ($31,200 for each fiscal year);

   -- the amounts incurred for preparation of the Purchase
      Calculation Analysis, charged at BDO's standard hourly rates
      set forth below, but not to exceed $20,000; and

   -- reimbursement of reasonable expenses actually incurred,
      charged in compliance with the Guidelines for Compensation
      and Expense Reimbursement of Professionals And Trustees
      promulgated by the Northern District of California
      Bankruptcy Courts (the "Guidelines").  In addition, BDO will
      charge $1,500 and $1,000, respectively, for each additional
      federal or state returns required by the Debtors, if any,
      which are not listed in the Agreement.

For any fees and expenses incurred by BDO which are not Current
Services (the "Additional Services"), including providing
additional tax advice concerning issues as requested by the
Debtors, preparing schedules and calculations required to support
the information disclosed in the tax returns, responding to
notices or inquiries from taxing authorities and performing
research related to non-recurring transactions such fees on an
hourly basis, BDO shall charge any such fees on an hourly basis.
The current hourly rates of the employees of BDO are:

       Partner                   $630
       Senior Director           $550
       Senior Manager            $475
       Manager                   $375
       Senior Associate          $260
       Staff                     $200

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

BDO can be reached at:

       BDO USA, LLP
       1888 Century Park East, 4th Floor
       Los Angeles, CA 90067
       Tel: (310) 557-0300
       Fax: (310) 557-1777

                        About ClearEdge Power

Sunnyvale, California-based ClearEdge Power Inc. and two other
affiliates filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Cal. Lead Case No. 14-51955) on May 1, 2014, in San Jose.
Affiliates ClearEdge Power, LLC, and ClearEdge Power International
Service, LLC, are based in South Windsor, Connecticut, where the
manufacturing operations are located.

Privately held ClearEdge designs, manufactures, sells and services
distributed generation fuel cell systems for commercial,
industrial, utility and residential applications.  ClearEdge
bought United Technologies Corp.'s UTC Power division in late
2012.  ClearEdge sought bankruptcy protection just a week after
shutting operations.

John Walshe Murray, Esq., at Dorsey and Whitney LLP, serves as
counsel to the Debtors.  Insolvency Services Group, Inc., serves
as noticing and claims agent.

ClearEdge Power disclosed $31,271,670 in assets and $67,414,779 in
liabilities as of the Chapter 11 filing.

Power Inc. estimated $100 million to $500 million in both assets
and debts.

The petitions were signed by David B. Wright, chief executive
officer.

On May 22, 2014, the U.S. Trustee for Region 17 appointed five
creditors to serve in the Committee.  The Committee has hired
Brown Rudnick as Counsel and Teneo Securities as financial
advisors.


CRAIGHEAD COUNTY FAIR: Court Approves Brent Stidman as Accountant
-----------------------------------------------------------------
Craighead County Fair Association sought and obtained permission
from the Hon. Audrey R. Evans of the U.S. Bankruptcy Court for the
Eastern District of Arkansas to employ Brent Stidman of Jones &
Company, Ltd. as accountant for the estate, to be paid as an
administrative expense.

The Debtor requests that Brent Stidman, CPA, be given the
authority to act for and on behalf of the Debtor and the estate to
represent it before any taxing authority, including the Internal
Revenue Service and the Arkansas Department of Finance &
Administration, to make written or oral presentations of fact or
argument to the taxing authorities, to receive and examine the
Debtor's income tax returns, both pre-petition and post-petition,
to sign any agreements, consents or other documents, and to do any
and all acts that the Debtor is by law, regulation, or rule
allowed to do with respect to any tax matter which may arise
during the administration of this estate, but not including the
power to receive any tax refund checks or to sign returns.

Jones & Company will be paid at these hourly rates:

       Brent Stidman          $210
       Accounting Manager     $152
       Accounting Senior      $110
       Staff                  $79

Jones & Company will also be reimbursed for reasonable out-of-
pocket expenses incurred.

The Debtor believed that the firm is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code and
does not represent any interest adverse to the Debtors and their
estates.

Jones & Company can be reached at:

       Brent Stidman
       JONES & COMPANY, LTD.
       501 Southwest Drive
       Jonesboro, AR 72401
       Tel: (870) 935-2871
       Fax: (870) 935-6374

                   About Craighead County Fair

Craighead County Fair Association filed a bare-bones Chapter 11
bankruptcy petition (Bankr. E.D. Ark. Case No. 14-15490) in
Jonesboro, Arkansas, on Oct. 13, 2014.

The Debtor, which is doing business as the Northeast Arkansas
District Fair, estimated $10 million to $50 million in assets and
debt.  The case is assigned to Judge Audrey R. Evans.


CREATIVE ARTISTS: Moody's Assigns B2 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service assigned Creative Artists Agency, LLC
(CAA) a B2 corporate family rating and assigned a B2 rating to the
proposed $610 million first lien credit facility consisting of a
$100 million five year revolver and a $510 million seven year term
loan B. The outlook is stable.

As part of the transaction, CAA has agreed to sell an additional
ownership stake to TPG that will increase TPG's ownership stake to
52% from 35%. The debt proceeds, including a $37 million revolver
draw at closing, and $75 million of new equity from TPG will be
used to fund a $400 million payment to members, repay existing
debt, and pay fees related to the transaction. The distribution to
the members is to fund a distribution to key members and retire
CAA member exit benefits. Approximately 25% of the proceeds will
be held to fund future vesting by its members. TPG will commit an
additional $150 million of additional stand-by equity if
attractive acquisition candidates are found which would increase
its ownership stake to approximately 60%.

Issuer: Creative Artists Agency, LLC

  Corporate Family Rating, assigned a B2

  Probability of Default Rating, assigned a B3-PD

  $100 million five year revolving credit facility, assigned a B2
  (LGD3)

  $510 million seven year first lien term loan, assigned a B2
  (LGD3)

Outlook, stable

Ratings Rationale

CAA's B2 CFR reflects the company's global business model with
leading talent representation positions in motion pictures,
television, music, and sports. The company's influential position
in Hollywood, good management, and strong growth in sports
representation has lead to revenue and EBITDA growth which Moody
anticipate will continue in 2015. The company also benefits from
contractual revenues from TV packages, motion picture profit
agreements, and sports contracts that provide some visibility to
future results. The company's sports representation business is
expected to continue to benefit from increasing compensation in
sports driven by strong demand for sports media rights. CAA's
leverage is approximately 5.9x (including Moody's standard
adjustments) which include member distributions as expenses. The
rating is constrained by the high level of distributions to its
members, although Moody anticipate that cash compensation will be
limited to the lesser of 63% of gross revenue or 83.5% of net
revenue less non-compensation operating expense. The dividend
payment is also expected to be phased out over the next two years.
The high compensation expense (including member distributions)
limits free cash flow available for debt repayment or new
acquisitions. The rating also includes CAA's dependence on its
employee base to drive revenue and the lack of tangible asset
value. Moody anticipate that CAA will continue to look for
potential acquisitions that include both large transaction that
would further diversify its business model and small acquisitions
to enhance existing businesses. Future acquisitions could
potentially be funded with additional debt or equity. Moody also
expect the company to consider going public through an IPO in
future periods.

Moody's anticipates that liquidity will be adequate going forward
driven by free cash flow after dividends of over $20 million and a
$100 million revolver with $37 million drawn at closing. Moody
anticipate the revolver will be subject to a springing senior
secured first lien net leverage covenant and the first lien term
loan will be covenant lite. The company is also anticipated to
have the ability to issue $100 million of additional incremental
facilities plus an unlimited amount subject to a 4.5x senior
secured first lien net leverage test.

The outlook is stable and reflects Moody's expectation for revenue
growth in the mid-single digits and EBITDA to increase in the low
double digits that will lead leverage to decline to approximately
5x by the end of the company's fiscal year 2015 (September 2015)
absent any debt funded transactions.

The rating could be upgraded if leverage declined to the low 4x
range on a sustained basis including Moody's standard adjustments
with positive organic revenue and EBITDA growth and a good
liquidity profile.

The ratings could be downgraded if leverage increased above 6.5x
on a sustained basis due to declines in operating performance or
debt funded transactions. A decline in its liquidity position
could also lead to negative rating action.

Creative Artists Agency, LLC (CAA) is a global talent
representation agency with leading positions in motion pictures,
television, music, and sports and include packaging rights in
television, motion picture profit agreements, commercial
endorsements, and other business services. Pro-forma for the
transaction, TPG is expected to own 52% of the company. Revenue
for the LTM ending June 2014 was $613 million.

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.


CREATIVE ARTISTS: S&P Assigns B+ CCR & Rates $610MM Sec. Debt BB-
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B+'
corporate credit rating to Los Angeles-based Creative Artists
Agency LLC.  The outlook is stable.  At the same time, S&P
assigned its 'BB-' issue-level rating and '2' recovery rating to
CAA's proposed $610 million senior secured credit facility,
consisting of a $100 million revolver due 2019 and a $510 million
term loan due 2021,.  The '2' recovery rating reflects S&P's
expectation of substantial (70% to 90%) recovery prospects for
lenders in the event of a payment default.

"The 'B+' corporate credit rating on CAA reflects our assessment
of the company's financial risk profile as 'highly leveraged' and
our assessment of the company's business risk profile as 'fair'
according to our criteria," said Standard & Poor's credit analyst
Chris Valentine.

S&P has placed particular emphasis on CAA's higher EBITDA margin
than direct competitor William Morris Endeavor (WME), as well as
the cash flow stability and relative predictability of the
business.  S&P's comparison analysis has a one-notch positive
effect on the rating.

The stable outlook reflects S&P's expectation that positive
operating trends at CAA will contribute to EBITDA growth and
modest leverage improvement over the next 12-18 months.  The
stable outlook also reflects S&P's expectation that management and
private equity owners will pursue an acquisitive growth strategy
over the next several years but that leverage will not rise above
the 5.5x threshold S&P has set for the 'B+' rating on CAA.  S&P
views an intermediate term upgrade and downgrade as equally
likely.

S&P could lower the rating in the event of significant
underperformance compared with operating expectations.  A more
likely downgrade scenario would be if the company was to pursue
significant debt-financed acquisitions in a manner that causes
total adjusted debt to EBITDA to remain above 5.5x on a sustained
basis.

S&P could raise the rating one notch if it become convinced that
management and owners will adopt a more conservative financial
policy and commit to maintain adjusted debt to EBITDA below 5x.
S&P currently views this as unlikely given the potential for a
debt-financed acquisition and/or special dividend.


CTI BIOPHARMA: To Issue $200 Million Worth of Securities
--------------------------------------------------------
CTI Biopharma filed with the U.S. Securities and Exchange
Commission a Form S-3 registration statement relating to the sale
of securities in one or more offerings, up to an aggregate
offering price of $200,000,000, in amounts, at prices and on terms
to be determined at the time of each offering thereof.

The Company separtely filed a Form S-3 prospectus relating to the
resale of up to an aggregate of 9,000,000 shares of its common
stock that were issued upon conversion of certain shares of
preferred stock held by Chroma Therapeutics Limited.  The shares
of preferred stock were originally issued by the Company in
October 2014 in connection with the execution of an asset purchase
agreement between CTI BioPharma Corp. and Chroma Therapeutics
Limited.

The Company's common stock is quoted on The NASDAQ Capital Market
and on the Mercato Telematico Azionario, or the MTA, stock market
in Italy under the symbol "CTIC."  On Nov. 20, 2014, the last
reported sale price of the Company's common stock on The NASDAQ
Capital Market was $2.17 per share.

                        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.

"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 its quarterly report on
Form 10-Q for the period ended Sept. 30, 2014.


CUMBERLAND CONSTRUCTION: Doe Run Elementary School Evacuated
------------------------------------------------------------
LancasterOnline reports that Manheim Central's Doe Run Elementary
School in Pennsylvania was evacuated on Oct. 17, 2014, after an
inspection by structural engineer Larry Baker revealed cracks in
window piers, corridor walls and classroom partition walls.  The
report says that the general contractor on the project was
Harrisburg-based Cumberland Construction, which filed for
bankruptcy under Chapter 11  as the Doe Run construction project
was nearing completion.

According to LancasterOnline, the project was built in 1992 for
$8.8 million.

LancasterOnline relates that the district sought a second opinion
on the school's structural integrity, and the second review got
similar results.

LancasterOnline quoted district Solicitor Carl Beard as saying,
"They concurred that the building was not built up to standards to
withstand a major storm, like a severe winter storm, or a seismic
event."

Foreman Architects CEO Phillip Foreman, according to
LancasterOnline, said that he would call the district "and find
out what we can do to help."


DENDREON CORP: Employs Skadden Arps as Bankruptcy Counsel
---------------------------------------------------------
Dendreon Corporation, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Skadden,
Arps, Slate, Meagher & Flom LLP as their bankruptcy counsel.

Skadden will render various services to the Debtors, including,
among others, the following:

   (a) advising the Debtors with respect to their powers and
       duties as debtors and debtors in possession in the
       continued management and operation of their businesses and
       properties;

   (b) attending meetings and negotiating with representatives of
       creditors and other parties in interest, and advising and
       consulting on the conduct of the cases, including all of
       the legal and administrative requirements of operating in
       Chapter 11;

   (c) taking all necessary action to protect and preserve the
       Debtors' estates, including the prosecution of actions on
       the Debtors' behalf, the defense of any actions commenced
       against the Debtors' estates, negotiations concerning
       litigation in which the Debtors may be involved and
       objections to claims filed against the Debtors' estates;

   (d) preparing on behalf of the Debtors all motions,
       applications, answers, orders, reports and papers necessary
       to the administration of the estates;

   (e) advising the Debtors in connection with any sales of
       assets;

   (f) preparing and negotiating on the Debtors' behalf plan(s) of
       reorganization, disclosure statement(s) and all related
       agreements and/or documents, and taking any necessary
       action on behalf of the Debtors to obtain confirmation of
       those plan(s);

   (g) appearing before the Court, any appellate courts, and the
       U.S. Trustee and protecting the interests of the Debtors'
       estates before those courts and the U.S. Trustee; and

   (h) performing all other necessary legal services and providing
       all other necessary legal advice to the Debtors in
       connection with the Chapter 11 Cases.

For 2014, the hourly rates under the firm's standard rate
structure range from $860 to $1,275 for partners, $850 to $975 for
counsel, $370 to $830 for associates and $195 to $340 for legal
assistants.  These hourly rates will increase on Jan. 1, 2015, and
the hourly rates under the firm's standard rate structure for 2015
will range from $895 to $1,350 for partners, $885 to $995 for
counsel, $380 to $870 for associates and $200 to $350 for legal
assistants.

Skadden received an initial retainer of $1,250,000.  Skadden had
$863,827 remaining in the Retainer as of the Petition Date.
Within the one-year period preceding the Petition Date, the total
aggregate amount of fees earned and expenses incurred by Skadden
on behalf of the Debtors was $5,502,044, and during the same
period, the Debtors paid Skadden an aggregate of $6,365,871 for
those matters, including payment of the Retainer.

Skadden has charged and will continue to charge the Debtors for
all other services provided and for other charges and
disbursements incurred in the rendition of those services.

Kenneth S. Ziman, Esq., a member of Skadden, assures the Court
that it 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.  Mr. Ziman
discloses that current and former officers and directors of the
Debtors serve or have served on the boards of directors of, or are
employed or have been employed by, certain current and former
clients of Skadden.  Skadden represents or has represented each of
these clients in matters unrelated to the Debtors: Amgen Inc.;
Avanir Pharmaceuticals; BioMarin Pharmaceuticals, Inc.; Cempra,
Inc.; Delcath Systems, Inc.; Eli Lilly and Company; EMCOR Group,
Inc.; Genta Incorporated; Hospira Inc.; Human Genome Sciences,
Inc.; IntegraMed America, Inc.; NPS Pharmaceuticals, Inc.; OraSure
Technologies, Inc.; Pharmaceutical Research and Manufacturers
of America; Portola Pharmaceuticals, Inc.; Rx Mosaic Health LLC;
Savient Pharmaceuticals; Shire plc; Tranzyme Pharma; Warburg
Pincus LLC; and Wright Medical Group, Inc.

In response to the questions under section D(1) of the Revised
U.S. Trustee Guidelines, Skadden says, among other things, that it
did not agree to any variations from, or alternatives to, its
standard or customary billing arrangement for its engagement with
the Debtors and none of the professionals included in the
engagement vary their rate based on the geographic location of the
bankruptcy case.

Skadden Arps may be reached at:

         Anthony W. Clark, Esq.
         Sarah E. Pierce, Esq.
         SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
         One Rodney Square
         P.O. Box 636
         Wilmington, DE 19899-0636
         Tel: (302) 651-3000
         Fax: (302) 651-3001
         E-mail: anthony.clark@skadden.com
                 sarah.pierce@skadden.com

            -- and --

         Kenneth S. Ziman, Esq.
         Raquelle L. Kaye, Esq.
         SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
         Four Times Square
         New York, NY 10036-6522
         Tel: (212) 735-3000
         Fax: (212) 735-2000
         E-mail: ken.ziman@skadden.com
                 raquelle.kaye@skadden.com

            -- and --

         Felicia Gerber Perlman, Esq.
         SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
         155 N. Wacker Drive
         Chicago, IL 60606-1720
         Tel: (312) 407-0700
         Fax: (312) 407-0411
         E-mail: felicia.perlman@skadden.com

A hearing on the employment application will be held on Dec. 9,
2014, at 3:30 p.m. (Eastern).  Objections are due Dec. 2.

                          About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company
focused on the discovery, development and commercialization of
novel cellular immunotherapies to significantly improve treatment
options for cancer patients.  Dendreon's first product, PROVENGE
(sipuleucel-T), was approved by the U.S. Food and Drug
Administration (FDA) and became commercially available for the
treatment of men with asymptomatic or minimally symptomatic
castrate-resistant (hormone-refractory) prostate cancer in April
2010.  Dendreon is traded on the NASDAQ Global Market under the
symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors have
requested that their cases be jointly administered under Case No.
14-12515.  Judge Peter J. Walsh presides over the cases.  The
petitions were signed by Gregory R. Cox, interim chief financial
officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016
representing 84% of the $620 million aggregate principal amount of
the 2016 Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.


DENDREON CORP: Proposes to Employ Lazard as Investment Banker
-------------------------------------------------------------
Dendreon Corporation, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Lazard
Freres & Co. LLC as investment banker.

Lazard has agreed to provide the following services as:

   * review and analyze the Debtor's business, operations and
     financial projections;

   * evaluate the Debtor's potential debt capacity in light of its
     projected cash flows;

   * assist in the determination of a capital structure for the
     Debtors;

   * assist in the determination of a range of values for the
     Debtors on a going concern basis;

   * advise the Debtors on tactics and strategies for negotiating
     with the Stakeholders;

   * render financial advice to the Debtors and participate in
     meetings or negotiations with the Stakeholders and/or rating
     agencies or other appropriate parties in connection with any
     Restructuring;

   * advise the Debtors on the timing, nature, and terms of new
     securities, other consideration or other inducements to be
     offered pursuant to any Restructuring;

   * assist the Debtors in preparing documentation within Lazard's
     area of expertise that is required in connection with any
     Restructuring;

   * assist the Debtors in identifying and evaluating candidates
     for any potential Sale Transaction, advise the Debtors in
     connection with negotiations and aid in the consummation of
     any Sale Transaction;

   * advise and assist the Debtors in evaluating any potential
     debtor-in-possession or exit financing in connection with a
     case under the Bankruptcy Code, contact potential sources for
     financing, and assist the Debtors in implementing that
     financing;

   * advise the Debtors with respect to, and attend, meetings of
     the Debtors' Board of Directors, as necessary;

   * if requested by the Debtors, participate in hearings before
     the Bankruptcy Court and provide relevant testimony with
     respect to the matters described herein; and

   * render other financial advisory and investment banking
     services as may be agreed upon by Lazard and the Debtors.

The Debtors have agreed to pay Lazard $150,000 per month; a fee,
payable upon consummation of any Restructuring, equal to 1.00% of
any Existing Obligations involved in the Restructuring; and, if
the Debtors consummate a Sale Transaction for which Lazard has
provided services, an amount to be mutually agreed in good faith
and consistent with the compensation customarily received by
investment bankers of similar standing in similar situations.

To the extent that expenses exceed $50,000, the Debtors will
reimburse Lazard for its reasonable expenses incurred in
connection with the performance of its engagement.

The Debtors have paid a total of $1,200,000 to Lazard for services
performed prior to the Petition Date.

Brandon Aebersold, a Managing Director of the firm Lazard Freres &
Co. LLC, in New York, assures the Court that it 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.

A hearing on the employment application will be held on Dec. 9,
2014, at 3:30 p.m. (Eastern).  Objections are due Dec. 2.

                          About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company
focused on the discovery, development and commercialization of
novel cellular immunotherapies to significantly improve treatment
options for cancer patients.  Dendreon's first product, PROVENGE
(sipuleucel-T), was approved by the U.S. Food and Drug
Administration (FDA) and became commercially available for the
treatment of men with asymptomatic or minimally symptomatic
castrate-resistant (hormone-refractory) prostate cancer in April
2010.  Dendreon is traded on the NASDAQ Global Market under the
symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors have
requested that their cases be jointly administered under Case No.
14-12515.  Judge Peter J. Walsh presides over the cases.  The
petitions were signed by Gregory R. Cox, interim chief financial
officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016
representing 84% of the $620 million aggregate principal amount of
the 2016 Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.


DENDREON CORP: Can Employ Prime Clerk as Claims Agent
-----------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware authorized Dendreon Corporation, et al., to employ
Prime Clerk as claims and noticing agent to, among other things,
assume full responsibility for the distribution of notices and the
maintenance, processing and docketing of proofs of claim filed in
the Debtors' chapter 11 cases.

For its claims and noticing services, Prime Clerk will charge the
Debtors at these hourly rates:

                                    Hourly Rate
                                    -----------
     Analyst                           $45
     Technology Consultant            $125
     Consultant                       $140
     Senior Consultant                $170
     Director                         $195

For the firm's solicitation, balloting and tabulation services,
the rates are:

                                    Hourly Rate
                                    -----------
     Solicitation Consultant          $195
     Director of Solicitation         $210

The firm will charge $0.10 per page for printing, $0.10 per page
for fax noticing, and no charge for e-mail noticing.  The case Web
site hosting and setup and the on-line claim filing services are
free of charge.  For data administration and management, the firm
will charge $0.10 per record per month for data storage,
maintenance and security.

Prior to the Petition Date, the Debtors provided Prime Clerk a
retainer in the amount of $40,000.

                          About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company
focused on the discovery, development and commercialization of
novel cellular immunotherapies to significantly improve treatment
options for cancer patients.  Dendreon's first product, PROVENGE
(sipuleucel-T), was approved by the U.S. Food and Drug
Administration (FDA) and became commercially available for the
treatment of men with asymptomatic or minimally symptomatic
castrate-resistant (hormone-refractory) prostate cancer in April
2010.  Dendreon is traded on the NASDAQ Global Market under the
symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors have
requested that their cases be jointly administered under Case No.
14-12515.  Judge Peter J. Walsh presides over the cases.  The
petitions were signed by Gregory R. Cox, interim chief financial
officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016
representing 84% of the $620 million aggregate principal amount of
the 2016 Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.


DENDREON CORP: Has Authority to Pay $3-Mil. to Critical Vendors
---------------------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware authorized Dendreon Corporation, et al., to make
payments toward prepetition critical vendor claims in amounts not
to exceed $3 million in the aggregate.

If a critical vendor refuses to supply goods and/or services to
the Debtors on customary trade terms following receipt of any
payment on account of its critical vendor claim or fails to comply
with any trade agreement entered into between the critical vendor
and the Debtors, then the Debtors may declare the trade agreement
immediately terminated and any payments made to the critical
vendor on account of its critical vendor claim to have been in
payment of then outstanding postpetition obligations owed to the
critical vendor.

                          About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company
focused on the discovery, development and commercialization of
novel cellular immunotherapies to significantly improve treatment
options for cancer patients.  Dendreon's first product, PROVENGE
(sipuleucel-T), was approved by the U.S. Food and Drug
Administration (FDA) and became commercially available for the
treatment of men with asymptomatic or minimally symptomatic
castrate-resistant (hormone-refractory) prostate cancer in April
2010.  Dendreon is traded on the NASDAQ Global Market under the
symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors have
requested that their cases be jointly administered under Case No.
14-12515.  Judge Peter J. Walsh presides over the cases.  The
petitions were signed by Gregory R. Cox, interim chief financial
officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016
representing 84% of the $620 million aggregate principal amount of
the 2016 Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.


DENDREON CORP: Court Issues Joint Administration Order
------------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware issued an order directing the joint administration of
the Chapter 11 cases of Dendreon Corporation and its debtor
affiliates under Lead Case No. 14-12515.

                          About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company
focused on the discovery, development and commercialization of
novel cellular immunotherapies to significantly improve treatment
options for cancer patients.  Dendreon's first product, PROVENGE
(sipuleucel-T), was approved by the U.S. Food and Drug
Administration (FDA) and became commercially available for the
treatment of men with asymptomatic or minimally symptomatic
castrate-resistant (hormone-refractory) prostate cancer in April
2010.  Dendreon is traded on the NASDAQ Global Market under the
symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors have
requested that their cases be jointly administered under Case No.
14-12515.  Judge Peter J. Walsh presides over the cases.  The
petitions were signed by Gregory R. Cox, interim chief financial
officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016
representing 84% of the $620 million aggregate principal amount of
the 2016 Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.


DIAMOND US HOLDINGS: Moody's Assigns B1 Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service announced first time ratings for Diamond
US Holdings LLC ("Dealogic"). The Corporate Family rating is B1,
the Probability of Default rating is B1-PD and the proposed senior
secured 1st lien term loan and revolver are rated B1. The ratings
outlook is stable.

The proceeds of the new term loan will be used together with new
equity provided by affiliates of financial sponsor The Carlyle
Group and others to purchase the equity of Dealogic, refinance
existing indebtedness and pay transaction related fees and
expenses.

Actions:

Issuer: Diamond US Holdings LLC

Corporate Family Rating, Assigned B1

Probability of Default Rating, Assigned B1-PD

Senior Secured 1st lien Term Loan, Assigned B1 (LGD3)

Senior Secured 1st lien Revolver, Assigned B1 (LGD3)

Outlook, At Stable

Ratings Rationale

The B1 CFR reflects Moody's expectations for debt to EBITDA to
decline toward 5 times in the next 12 to 18 months. Dealogic's
revenue size, which Moody's expects to be about $160 million in
2015, is small and its business scope is narrow. Dealogic's
subscription revenue stream for its databases and tools, and its
long term, albeit concentrated, customers, provide high barriers
to potential competitors. There is substantial customer
concentration with Moody's anticipating more than 50% of
subscription revenues coming from the top 15 investment banks in
2015. However, subscription revenues recur at a high 90%s rate,
driven by the mission-critical nature of the data and integration
of related tools to the banker's other information systems.
Existing and potential competitors, especially in its
institutional client management segment, or a decline in
investment banking activity, could weigh on revenue growth.
Liquidity from free cash flow of at least $30 million and the
unused and a fully available $50 million revolver is considered
good.

All financial metrics reflect Moody's standard adjustments.

The stable ratings outlook reflects expectations for revenue
growth of 3% to 5% and steady low 40s% EBITA margins to drive
higher EBITDA and debt to EBITDA toward 5 times. Moody's expects
free cash flow may be invested in the business or used for
acquisitions rather than debt reduction. A loss of customers,
decline in retention rates or a more challenging pricing or
competitive environment could lead Moody's to downgrade the
ratings. If Moody's expects debt to EBITDA to remain above 5.5
times or free cash flow to debt of about 5%, the ratings could be
lowered. If financial policies evolve such that Dealogic increases
leverage to make acquisitions or fund cash shareholder returns,
the ratings could be lowered by more than one notch. Given the
highly concentrated customer base, risk of potential competition
from its customers or other much larger competitors and limited
size of its addressable market, an upgrade is not likely. Should
Dealogic's business scope, revenue scale and customer diversity
all be expanded while Moody's comes to expect debt to EBITDA of
about 4.5 times and free cash flow to debt over 12%, the ratings
could be raised.

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.

Dealogic provides transaction data and analytics and customer
relationship management software and services to the investment
banking industry.


DISTRIBUTION INT'L: S&P Raises CCR to 'B'; Outlook Stable
---------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Houston-based Distribution International Inc. to
'B' from 'B-'.  The rating outlook is stable.

At the same time, Standard & Poor's assigned its 'B' issue-level
rating (same as the corporate credit rating) to the company's
proposed $215 million first-lien term loan due 2021 and its 'CCC+'
issue-level rating to the company's $113 million second-lien term
loan due 2022.  The recovery rating on the first-lien loan is '3',
indicating S&P's expectation of meaningful (50% to 70%) recovery
for lenders in the event of a payment default.  The recovery
rating on the second-lien loan is '6', indicating S&P's
expectation of negligible (0% to 10%) recovery for lenders in the
event of a payment default.  The company also has an $80 million
asset-based lending (ABL) facility due 2019, which S&P do not
rate.

S&P is raising the corporate credit rating on Distribution
International Inc. to 'B' from 'B-' due to a combination of recent
successful acquisitions and integrations; increased size and
market share; and a sustained, above average level of
profitability for a distributor.  The rating reflects revision of
the company's business risk profile to "fair" from "weak" and
represents what S&P considers to be the combination of its "fair"
business risk profile and "highly leveraged" financial risk
profile.  S&P's view of the company's "fair" business risk profile
is due to its small--albeit growing--size, increasing national
footprint, integration risk related to its acquisition strategy,
and concentrated cyclical end markets.

"The stable rating outlook reflects our expectation of large
committed capital projects by Distribution International's
customers and improved operating performance in 2015," said
Standard & Poor's credit analyst Pablo Garces.  "We expect the
company's leverage to improve from its current level above 6x to
approximately 5.5x, while maintaining adequate liquidity based on
committed revolving borrowing capacity and minimal capital
spending."

S&P could lower the rating if Distribution International
experiences weaker-than-expected end-market demand resulting in
deteriorating financial performance and adversely affecting S&P's
liquidity assessment.  The latter could occur if availability on
the ABL declines to below $6 million, triggering the fixed-charge
covenant requirement.

S&P could raise the rating if industry fundamentals continue to
improve resulting in better operating performance such that
leverage declines below 5x and FFO to debt increases above 12% and
is sustained at these levels.  S&P would also need to gain
confidence that the company's owners were committed to financial
policies supportive of this financial profile, as consistent with
S&P's criteria for companies owned by financial sponsors.  S&P
could also raise its rating in the longer term if acquisitions
cause a material change in the business such that the company is
significantly larger with more geographic diversity.


DUNE ENERGY: Tender Offer Expiration Further Extended to Dec. 22
----------------------------------------------------------------
In connection with the previously announced Agreement and Plan of
Merger, dated Sept. 17, 2014, between Dune Energy, Inc., Eos
Petro, Inc., and Eos Merger Sub, Inc., Eos announced that,
pursuant to an amendment to the Merger Agreement, the parties have
agreed to extend the expiration of the tender offer to acquire all
of the outstanding shares of common stock of Dune at a price of
$0.30 per share in cash without interest and less any applicable
withholding taxes, to Dec. 22, 2014, at 12:00 Midnight, New York
City time to allow Purchaser to complete financing in order to
fund the tender offer and merger.

Eos has obtained conditional equity financing commitments for $75
million out of a total $100 million in equity it desires to raise
for the transaction; however, its senior debt financing commitment
letter in place at the signing of the Merger Agreement was
terminated by the potential lender.  Eos is diligently working to
obtain financing from alternative sources.  The tender offer was
previously scheduled to expire on Nov. 20, 2014, at 12:00
Midnight, New York City time.  In addition, the Merger Agreement
was further amended to permit Dune to solicit potential
"Acquisition Proposals" from other third parties during the term
of the Merger Agreement.  All other terms and conditions of the
Merger Agreement remain unchanged.

The depositary for the tender offer has advised that, as of the
close of business on Nov. 20, 2014, a total of approximately
73,128,848 shares or 99.01629% of outstanding shares had been
validly tendered and not properly withdrawn pursuant to the tender
offer, which is sufficient to satisfy the minimum tender condition
contemplated by the Merger Agreement.

                          About Dune Energy

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

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

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

                           Going Concern

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

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


EDUCATION MANAGEMENT: Terminates Registration of Securities
-----------------------------------------------------------
Education Management Corporation filed a Form 15 with the U.S.
Securities and Exchange Commission to terminate the registration
of these securities:

   * Common Stock, par value $0.01 per share

   * Preferred Stock, par value $0.01 per share

   * Deferred Compensation Obligations

   * Depositary Shares

   * Warrants

   * Purchase Contracts

   * Units

   * Senior Cash Pay/PIK Notes due 2018

   * 8 3?4% Senior Notes due 2014

   * 10 1?4% Senior Subordinated Notes due 2016

   * Guarantees of Senior Cash Pay/PIK Notes due 2018

   * Guarantees of 8 3?4% Senior Notes due 2014

   * Guarantees of 10 1?4% Senior Subordinated Notes due 2016

   * Debt Securities

   * Debt Guarantees

As a result of the Form 15 filing, the Company is not anymore
obligated to filed periodic reports with the SEC.

                    About Education Management

Education Management LLC, an indirect subsidiary of Education
Management Corporation based in Pittsburgh, Pennsylvania, is one
of the largest providers of private post-secondary education in
North America.  The company's education systems (The Art
Institutes, Argosy University, Brown Mackie Colleges and South
University) offer associate through doctorate degrees with
approximately 120,000 students.  The company reported revenues of
approximately $2.4 billion for the twelve months ended March 31,
2014.

                           *    *     *

As reported by the TCR on Nov. 19, 2014, Standard & Poor's Ratings
Services said that it lowered its corporate credit rating on
Pittsburgh-based for-profit post-secondary school operator
Education Management LLC (EDMC) to 'D' from 'CC'.  The rating
actions follow the amendment to the company's credit facilities
that waived all financial covenants and substituted the originally
agreed upon cash interest and principal payments for a payment-in-
kind (PIK structure).

Moody's Investors Service has lowered the ratings of for-profit
post-secondary education company Education Management LLC,
including the Corporate Family Rating ("CFR") to Caa3 from Caa1,
and changed the outlook to negative from stable, the TCR reported
on May 6, 2014.  The ratings were downgraded in consideration of a
financial restructuring program that the company intends to
undertake, which Moody's believes could entail a distressed
exchange for debt.


E.H. MITCHELL: Reginald J. Laurent Balks at Confirmation of Plan
----------------------------------------------------------------
Party-in-interest Reginald J. Laurent, objected the Reorganization
Plan of the E. H. Mitchell & Company, L.L.C., stating that, among
other things, the Plan does not meet the requirements of Chapter
11 of the Bankruptcy Code and must not be confirmed.

Mr. Laurent noted that the Plan's classification scheme does not
conform to the statute, as the Plan separately classifies claims
based on unexplained or invalid business and legal reasons,
particularly Classes 2 (Ezkovich, Rickert, and CMC) and Class 4
(Laurent).

Mr. Laurent says the Plan's classification scheme is irrationally
based because it is based on the respective legal rights of each
holder of a claim against or Mitchell Interest in the applicable
Debtor's estate and the proposed classifications were proposed to
create a consenting impaired class or to manipulate class voting.

As reported in the Troubled Company Reporter on Sept. 23, 2014,
the Debtor received the go signal from the bankruptcy court to
solicit votes for the plan.

The Chapter 11 Plan proposes 100% payment to all creditors.  The
Debtor proposed to fund the plan obligations from business income
and the sale of some or all of its immoveable properties.
Payments will be made to Unsecured Creditors periodically until
paid in full or paid in advance based on unanticipated excess
revenues or the sale of properties.  A copy of the Third Amended
Disclosure Statement is available for
free at http://bankrupt.com/misc/EHMITCHELL_172_3ds.pdf

               About E. H. Mitchell & Company LLC

E. H. Mitchell & Company LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. La. Case No. 13-12786) on Oct. 8,
2013.  The case is assigned to Judge Jerry A. Brown.

The Debtor is represented by Robert L. Marrero, Esq., at Robert
Marrero, LLC, in New Orleans, Louisiana. The Debtor disclosed
$300,027,297 in assets and $1,281,148 in liabilities.

The petition was signed by Michael Furr, secretary/member.

Henry G. Hobbs, Jr., Acting United States Trustee for Region 5,
has appointed three members to the official committee of unsecured
creditors.


ENERGY FUTURE: Coercive Tender Offers to Get Scrutiny in 2015
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Richard G. Andrews in
Delaware scheduled a hearing for Jan. 4 to hear arguments in the
case of Energy Futures Holdings Corp. on whether coercive tender
offers is possible outside of bankruptcy.

According to the report, Delaware Trust Co., as indenture trustee
for holders of 10% first-lien notes, appealed a bankruptcy court's
approval of a settlement with holders of two issues of first-lien
notes issued by Energy Future Intermediate Holding, the unit that
owns 80 percent of its regulated Oncor powerline business, saying
the settlement was a coercive tender offer that wouldn?t pass
muster outside of bankruptcy and shouldn?t have been allowed in
bankruptcy either.  In its appeal, the indenture trustee said that
if Judge Andrews determines the bankruptcy judge was wrong, the
district court can require a plan of reorganization to include a
sweetened settlement offering more compensation for the loss of a
make-whole premium.

The appeal is Delaware Trust Co. v. Energy Future Holdings Corp.
(In re Energy Future Holdings Corp.), 14-cv-00723, U.S. District
Court, District of Delaware (Wilmington).

                       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.

The Troubled Company Reporter, on Nov. 4, 2014, reported that the
U.S. Trustee for Region 3 appointed five creditors of Energy
Future Holdings Corp. to serve on the Debtor's official committee
of unsecured creditors.


EFT HOLDINGS: Delays Form 10-Q for Third Quarter
------------------------------------------------
EFT Holdings, Inc., filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the period ended
Sept. 30, 2014.  The Company said the compilation, dissemination
and review of the information required to be presented in the
Quarterly Report for the relevant period has imposed time
constraints that have rendered timely filing of the Form 10-Q
impracticable without undue hardship and expense to the Company.

EFT Holdings, Inc., is an Industry, California-based company whose
products are sold directly to customers through its Web site.  The
Company sells 27 nutritional products, consisting of oral sprays,
personal care products, a house cleaner, and a portable drinking
container.

The Company's balance sheet at June 30, 2014, showed
$9.78 million in total assets, $18.44 million in total
liabilities, and a stockholders' deficit of $8.66 million.

"The Company has negative working capital of $10,315,263 and an
accumulated deficit of $55,497,821 as of June 30, 2014 and has
reported net losses for the past two fiscal years.  The Company
expects to continue incurring losses for the foreseeable future
and may need to raise additional capital from external sources in
order to continue the long-term efforts contemplated under its
business plan.  These circumstances, among others, raise
substantial doubt about the Company's ability to continue as a
going concern," according to the Form 10-Q for the period ended
June 30, 2014.


ERF WIRELESS: Issues 2.1 Million Common Shares
----------------------------------------------
ERF Wireless, Inc., issued 2,135,000 common stock shares pursuant
to existing Convertible Promissory Notes from Nov. 8, 2014,
through Nov. 14, 2014.  The Company receives no additional
compensation at the time of the conversions beyond that previously
received at the time the Convertible Promissory Notes were
originally issued.  The Shares were issued at an average of $0.012
per share.  The issuance of the Shares constitutes 6.8% of the
Company's issued and outstanding shares based on 31,085,832 shares
issued and outstanding as of Nov. 7, 2014.

                        About ERF Wireless

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

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

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


FALCON STEEL: Gets Extended Exclusivity to File Plan Thru Jan. 16
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
extended Falcon Steel Company and New Falcon Steel, LLC's
exclusive plan filing period through and including Jan. 16, 2015.
The Debtors' exclusive solicitation period for that plan is also
extended through and including March 18, 2015.

This is the third extension of the Debtors' exclusive periods.

                        About Falcon Steel

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 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.

                           *      *     *

The judge has given the Debtors and the unsecured creditors
committee until Dec. 13, 2014, to file claims against lender Texas
Capital Bank, N.A.


FOUNDATION HEALTHCARE: To Issue Add'l 17.2MM Shares Under Plan
--------------------------------------------------------------
Foundation Healthcare, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-8 registration statement to register
an additional 17,250,000 shares of common stock under the 2008
Long-Term Incentive Plan.  A copy of the Form S-8 prospectus is
available at http://is.gd/fiN7Cz

                    About Foundation Healthcare

Oklahoma-based Foundation Healthcare is a healthcare services
company primarily focused on owning controlling interests in
surgical hospitals and the inclusion of ancillary service lines.
The Company currently owns controlling and noncontrolling
interests in surgical hospitals located in Texas.  The Company
also owns noncontrolling interests in ambulatory surgery centers
("ASCs") located in Texas, Oklahoma, Pennsylvania, New Jersey,
Maryland and Ohio.

Additionally, the Company provides sleep testing management
services to various rural hospitals in Iowa, Minnesota, Missouri,
Nebraska and South Dakota under management contracts with the
hospitals.  The Company provides management services to a majority
of its Affiliates under the terms of various management
agreements.  Prior to Dec. 2, 2013, the Company's name was
Graymark Healthcare, Inc.

Foundation Healthcare reported a net loss attributable to
Foundation Healthcare common stock of $20.42 million on $93.14
million of revenues for the year ended Dec. 31, 2013, as compared
with net income attributable to Foundation Healthcare common stock
of $2.45 million on $52.97 million of revenues in 2012.

Hein & Associates LLP, in Denver, Colorado, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company had insufficient working capital as of Dec. 31,
2013, to fund anticipated working capital needs over the next
twelve months.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


FLUX POWER: Reports $197,000 Net Loss for Sept. 30 Quarter
----------------------------------------------------------
Flux Power Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $197,000 on $86,000 of net revenue for the three
months ended Sept. 30, 2014, compared a net loss of $746,000 on
$34,000 of net revenue for the same period in 2013.

As of Sept. 30, 2014, the Company had $337,000 in total assets,
$979,000 in total liabilities and a $642,000 total stockholders'
deficit.

CEO, Ron Dutt, commented, "Though little more than a month since
our Q4 report, Flux continues to build awareness, its sales
pipeline and customer reach with major national and regional
accounts.  As we anticipated in our Q4 release, Q1 revenues fell
below those in Q4 as the period was principally focused on
initiating relationships to set the stage for Q2 and beyond.  We
continue to receive glowing feedback for our solutions as we meet
with national and regional accounts, lift truck OEMs and dealers
and battery distributors.  Our sales team and engineers are
working to convert this enthusiasm and advance dialogues from
testing to sales.

"At the request of some of our customers, we are also extending
our LiFT Pack product line into the larger 'stand on' pallet jack
market with piloting of initial packs later this quarter.  The
size and performance requirements of these systems demand a
larger, more powerful solution with a price point roughly double
that of our LiFT Pack solutions for Walkies."

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

                        http://is.gd/uBFdsK

                         About Flux Power

Escondido, California-based Flux Power Holdings, Inc., designs,
develops and sells rechargeable advanced energy storage systems.

Flux Power reported a net loss of $4.29 million on $358,000 of net
revenue for the year ended June 30, 2014, compared to net income
of $351,000 on $772,000 of net revenue for the year ended June 30,
2013.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in
San Diego, California, issued a "going concern" qualification on
the consolidated financial statements for the year ended June 30,
2014.  The independent auditors noted that the Company has
incurred a significant accumulated deficit through June 30, 2014,
and requires immediate additional financing to sustain its
operations.  These factors, among others, raise substantial doubt
about the Company's ability to continue as a going concern.


GIL DE LA MADRID: Bar Date Gets Reset After Case Is Reinstated
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Francisco A. Besosa in San
Juan, Puerto Rico ruled that if a Chapter 13 bankruptcy is
dismissed before the last day for filing claims, the so-called bar
date must be reset when the case is reinstated.

According to the report, after the individual?s Chapter 13 case
was dismissed and after the original bar date had passed, a
creditor filed a motion seeking permission to file a claim.  The
bankruptcy judge allowed the claim and set a new bar date, and the
bankrupt appealed.  Judge Besosa, concluding that the claim was
timely, said it would "produce absurd results" were there no power
to reset the bar date, the report related.

The case is De la Madrid v. Bowles Custom Pools & Spa Inc., 14-
1287, U.S. District Court, District of Puerto Rico (San Juan).


GENERAL MOTORS: Arizona Wants $3BB for Drop in Value of Vehicles
----------------------------------------------------------------
Greg Gardner at Detroit Free Press reports that Arizona Attorney
General Thomas Horne has filed a lawsuit against General Motors
Corp., seeking $3 billion for the decline in value of GM vehicles
owned by 300,000 residents of Arizona.  The report adds that Mr.
Horne alleges that the Company defrauded the state's consumers by
claiming it was a new company and not responsible for faulty
products made before its 2009 bankruptcy reorganization.

According to Free Press, Mr. Horne said Thursday that he sued
under the state's consumer fraud statutes and is seeking: (i) a
$10,000 fine for each of hundreds of thousands of defective
vehicles sold in the state; and (ii) an order that GM hand over
profits it made from selling defective vehicles.

The Company said in a statement, "We have reviewed the complaint
filed by the State of Arizona.  It misrepresents the facts, the
performance of our vehicles and our work to ensure the safety of
our customers.  We intend to vigorously defend ourselves."

                     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.


GENIUS BRANDS: Reports $849,000 Net Loss in Third Quarter
---------------------------------------------------------
Genius Brands International, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $848,970 on $318,801 of total revenues
for the three months ended Sept. 30, 2014, compared to a net loss
of $2.79 million on $213,010 of revenues for the same period in
2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $2.84 million on $712,279 of total revenues compared
to a net loss of $4.28 million on $1.56 million of total revenues
for the same period during the prior year.

As of Sept. 30, 2014, the Company had $18.27 million in total
assets, $3.67 million in total liabilities and $14.59 million in
total stockholders' equity.

Cash totaled $5,167,606 and $234,211 at Sept. 30, 2014, and 2013,
respectively.

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

                        http://is.gd/GvmCfO

On Nov. 14, 2014, Genius Brands distributed a letter to its
shareholders providing Company updates, a copy of which is
available for free at http://is.gd/IQGtJx

                        About Genius Brands

San Diego, Calif.-based Genius Brands International, Inc., creates
and distributes music-based products which it believes are
entertaining, educational and beneficial to the well-being of
infants and young children under its brands, including Baby Genius
and Little Genius.

Genius Brands reported a net loss of $7.21 million in 2013, a net
loss of $2.06 million in 2012 and a net loss of $1.37 million in
2011.


GREEN AUTOMOTIVE: Delays Form 10-Q for Third Quarter
----------------------------------------------------
Green Automotive Company filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its quarterly report on Form 10-Q for the period
ended Sept. 30, 2014.

In October 2014, the Company's sole executive officer resigned and
new executive officers were appointed.  As a result, data and
other information regarding certain material operations of the
Company, as well as its financial statements required for the
filing, were not readily available and could not be made available
without unreasonable effort and expense.

The Company anticipates its financial results for the three and
nine months ended Sept. 30, 2014, will differ significantly from
the same period of the prior year primarily due to:

   (i) the significant decrease in the price of its common stock
       during the three and nine months ended Sept. 30, 2014,
       compared to the three and nine months ended Sept. 30, 2013,
       led to a corresponding drop in the fair value of its
       derivative liabilities for the three and nine months ended
       Sept. 30, 2014; and

  (ii) in August 2014, the Company arranged for the disposition of
       the assets of the Company's subsidiaries organized and
       operated in the United Kingdom (U.K.) under the U.K.
       Insolvency Act of 1986.

The manufacturing and sale of buses during the nine months ended
Sept. 30, 2014, is expected to significantly increase the
Company's revenue, cost of goods sold and operating expenses, as
well as change the Company's net profit/loss for the periods ended
Sept 30, 2014, compared to the same periods the year prior.  The
disposition of the Company's U.K. assets and operations during the
three months ended Sept. 30, 2014, is expected to decrease the
Company's expenses.

                  About Green Automotive Company

Green Automotive Company is a vehicle design, engineering,
manufacturing and distribution company. The Company also provides
after sales program.  It possesses a portfolio of businesses and
is active in three main market segments: Cutting edge technology
development, engineering and design with a focus on zero and low
emission vehicle solutions; Manufacturing and customization of
vehicles for markets with the potential to be converted into low
emission or electric vehicles, such as shuttle buses, taxis,
commercial vehicles, and After sales services for electric or low
emission vehicles, including servicing and repair.

The Company's balance sheet at June 30, 2014, showed $1.47 million
in total assets, $17.94 million in total liabilities, and a
stockholders' deficit of $16.47 million.

The Company has sustained recurring operating losses and past due
payables.  These conditions, among others, give rise to
substantial doubt about its ability to continue as a going
concern, according to the Company's Form 10-Q for the period ended
June 30, 2014.


GREEN BRICK: Conference Call Held to Discuss JBGL Results
---------------------------------------------------------
Green Brick Partners, Inc., held a conference call to discuss the
financial results for the quarter ended Sept. 30, 2014, for JBGL
Builder Finance LLC and certain subsidiaries of JBGL Capital, LP.

Green Brick is the product of a reverse acquisition transaction
between Biofuel Energy Corp. and JBGL which closed on Oct. 27,
2014.  In connection with the closing of that transaction, the
company name was changed from Biofuel Energy to Green Brick
Partners, and the company is now a real estate operator involved
in the purchase and development of land for residential use,
construction lending, and home building operations.

For the third quarter of 2014, JBGL had revenues in home building
operation and land development of $49.7 million, a decrease of 26%
compared with $67.2 million for the same period of 2013.  This is
a result of longer construction cycles, delays in land development
and new community openings, and higher than normal net new home
orders from the period April to June 2013.

For the first nine months of 2014, total revenues increased 21.8%
to $178.5 million compared with $146.6 million in the first nine
months of 2013.  Homebuilding gross margin was 31.7% for the third
quarter of 2014, which is the same at last year's third quarter.
During the first nine months of 2014, home building gross margin
was 26.8%, down .9% compared with 27.7% for the same period of
2013.

Net income was $3.7 million for the third quarter of 2014 compared
to $9.5 million for the same period in 2013, which is also due to
the longer construction cycles and pending the openings of new
communities.  For the first nine months of 2014, the net income
was $18.5 million compared to $23.2 million for the same period of
2013.

A copy of the transcript from the conference call is available for
free at http://is.gd/JlLAu4

                          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 EARTH: Amends 9.6 Million Common Shares Prospectus
--------------------------------------------------------
Green Earth Technologies, Inc., filed with the U.S. Securities and
Exchange Commission an amended 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 9,615,385 and 45,066,666
shares, respectively, are issuable upon exercise of the conversion
rights contained in the Company's 6.0% Secured Convertible
Debentures in the aggregate principal amount of $1,250,000 due on
Dec. 31, 2014, and in the Company's 6.0% Secured Convertible
Debentures in the aggregate principal amount of $2,704,000 due on
March 31, 2016; and 3,676,470, 4,875,000, 1,010,000 and 875,000
shares, respectively, are issuable upon exercise of warrants
expiring on Dec. 31, 2016, March 31, 2018, June 30, 2018, and
Sept. 30, 2018.  The conversion prices of the Debentures due on
Dec. 31, 2014, and March 31, 2016, are $0.13 and $0.06 per share
of the Company's common stock, respectively, and the exercise
prices of 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."
The closing market price of the Company's common stock as of
Nov. 20, 2014, was $0.069 per share.

A full-text copy of the Form S-1 prospectus is available at:

                        http://is.gd/McgMsq

                    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: Failed to Manage Workers & Production, Apple Says
--------------------------------------------------------------
Apple Inc. sent a leter to GT Advanced Technologies, Inc.'s
creditors saying that the Debtor failed to manage its workers and
sapphire glass production process, and that the Debtor simply
couldn't make a usable product, Jeff Gamet at The Mac Observer
reports.

The Mac Observer relates that Apple alleged in the letter that the
Debtor didn't have experience making synthetic sapphire, and that
it couldn't deliver its promised 578 pound boules.

According to The Mac Observer, the Debtor's failure to meet its
commitment led to spiraling expenses, missed deadlines, and
ultimately bankruptcy.  The letter, The Mac Observer states,
claimed that the Debtor's bankruptcy filing was a big surprise and
that a meeting was scheduled for the day after to resolve sapphire
production issues.

The Mac Observer says that Apple claimed that it was working with
the Debtor to find a way to turn its sapphire production into a
successful process, which would've been difficult to achieve even
if the Debtor hadn't filed for bankruptcy protection.  The Debtor
apparently failed to supervise and manage its workers effectively,
and in many cases paid overtime for those who didn't have anything
to do, The Mac Observer reports.

In a court filing, attorneys for Apple accused the Debtor's chief
operating officer, Daniel W. Squiller, of making false statements
about the deal, among other allegations.  The Debtor was not
forced into any deal because it was represented by "sophisticated
outside counsel," and its stock price soared when news broke about
the agreement, Ktar.com reports, citing Apple.  The report adds
that  Apple said it has "bent over backwards" to work with the
Debtor.

                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.


HOLE IN ONE: Sells West Chase Golf Club at Auction for Over $900K
-----------------------------------------------------------------
Hole In One, Inc., sold its West Chase Golf Club in Brownsburg,
Indiana, at an auction on Thursday to a Hendricks County
businessman for more than $900,000, Jeff Swiatek at Indystar.com
reports, citing Seth Seaton, a vice president at Key Auctioneers,
which handled the live-only auction.

According to Indystar.com, Mr. Seaton said he wasn't authorized to
disclose the winning bidder, who plans to keep operating the 18-
hole public course.

Mr. Seaton said that the winning bidder will acquire the course,
plus equipment, a banquet and catering facility, and a liquor
license, but the clubhouse is separately owned and wasn't included
in the sale, Indystar.com states.   The new owner could lease the
clubhouse or possibly buy it, as it is currently listed for sale,
the report adds, citing Mr. Seaton.

Headquartered in Brownsburg, Indiana, Hole In One, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Ind. Case No. 14-
03052) filed for Chapter 11 bankruptcy protection on April 8,
2014.  In its petition, the Debtor listed $875,020 in total assets
and $2.50 million in total liabilities.  The petition was signed
by Curt Johnson, president.

KC Cohen, Esq., at KC Cohen, Lawyer, PC, serves as the Debtor's
bankruptcy counsel.

Judge James K. Coachys presides over the case.


HASHFAST TECHNOLOGIES: Bids for Assets Must Be Filed by Dec. 2
--------------------------------------------------------------
Stan Higgins at CoinDesk reports that potential bidders for almost
all of Hashfast Technologies, LLC's remaining assets have until
Dec. 2, 2014, to submit their bids and deposits.

As reported by the Troubled Company Reporter on Nov. 12, 2014, the
Hon. Dennis Montali of the U.S. Bankruptcy Court for the Northern
District of California approved the auction of the assets on Dec.
4, 2014.  Cyrus Farivar at Arstechnica.com reported that the
Debtor will sell thousands of its chips, wafers, mining boards,
cooling fans, and older models of its miners, as well as "claims
and causes of action against Simon Barber, co-founder and Chief
Technology Officer of the Debtors, including preference,
fraudulent transfer, and breach of fiduciary duty claims."

                   About HashFast Technologies

San Francisco, California-based HashFast Technologies LLC, a
startup Bitcoin miner manufacturer-turned-chipmaker.

Baker Hostetler LLP filed on behalf of Koi Systems, UBE
Enterprises, Timothy Lam, Edward Hammond, and Grant Pederson, an
involuntary Chapter 7 bankruptcy petition against HashFast
Technologies (Bankr. N.D. Calif. Case No. 14-30725) on May 9,
2014.


HULDRA SILVER: Closes $7-Mil. Financing; Implements Restructuring
-----------------------------------------------------------------
Huldra Silver Inc. on Nov. 24 disclosed that it has completed the
first tranche of it previously announced secured convertible
debenture financing and raised gross proceeds of $7,000,882.
Concurrently with closing of the First Tranche, the Company
implemented the previously announced restructuring of its debts
and obligations under the Company's Plan of Compromise and
Arrangement dated August 8, 2014.  The Plan was prepared by the
Company in connection with its proceedings under the Companies'
Creditors Arrangement Act (Canada), and was approved by the
creditors of the Company on September 23, 2014 and sanctioned by
the Supreme Court of British Columbia on October 10, 2014.  The
monitor in the CCAA Proceedings filed the certificate of Plan
implementation with the Court on November 21, 2014.

Private Placement of $7,000,882 of Secured Convertible Debentures

The Company has closed the First Tranche of its previously
announced offering of secured convertible debentures in the
aggregate principal amount of up to $8 million and 5,000 non-
transferrable common share purchase warrants for every $1,000 of
principal of the Debentures.  Pursuant to the First Tranche, the
Company issued Debentures in the aggregate principal amount of
$7,000,882 and 35,004,410 Warrants.  Each Warrant is exercisable
into one common share of the Company at an exercise price of
$0.075 per Share in the first 12 months after Closing and at $0.10
per Share for 36 months thereafter, subject to adjustment.

The Debentures mature on November 21, 2017 and bear interest at a
rate of 10% per annum, which Interest is payable as to 50% in cash
and 50% by the issuance of Shares at a price per Share equal to
the market price of the at the time of issuance.  The Debentures
are also convertible into Shares a price of $0.055 per Share at
any time, and from time to time, until the Maturity Date.  A
maximum of 127,288,764 Shares will be issuable on conversion of
the Principal Amount of the Debentures, subject to adjustment.

The holders of the Debentures have been granted a security
interest over all of the property and assets of the Company and
its wholly-owned subsidiary Huldra Properties Inc., and the
enforcement of such security is subject to the terms and
conditions of the Debentures and the Agency and Interlender
Agreement among the holders of the Debentures.

The Debentures and the related security interest are subordinate
to the Company's debts and obligations owing to Waterton Global
Value, L.P., until such time as all amounts owed to Waterton have
been repaid by the Company.  Upon repayment by the Company of all
amounts owed to Waterton, the holders of the Debentures issued
pursuant to the First Tranche will be granted an aggregate 2% net
smelter returns royalty with respect to the Company's Treasure
Mountain mine, provided that each holder of the Debentures issued
pursuant to the First Tranche shall only be entitled to their pro
rata share of such royalty based on their individual investment
pursuant to the First Tranche.  This royalty will replace the 2%
net smelter returns royalty with respect to the Company's Treasure
Mountain mine which is currently held by Waterton and will be
terminated upon repayment of all amounts owed to Waterton by the
Company.

In connection with the closing of the First Tranche, the Company
paid cash finder's fees of $22,960 and issued finder's warrants to
purchase an aggregate of 471,455 Shares.  The terms of the
Finder's Warrants are the same as the terms of the Warrants.

The Debenture, Warrants, Finder's Warrants and Shares issuable on
conversion thereof are subject to a statutory hold period expiring
March 22, 2015.

Implementation of CCAA Restructuring Plan

The Company has implemented its CCAA Restructuring to settle
approximately $21,655,060 of its debt in accordance with the terms
and conditions of the Plan under the CCAA proceedings.  Upon the
Plan Implementation Date, the Plan is binding and effective on all
persons affected by the Plan.  On the Plan Implementation Date, a
total of approximately $14,063,902 owed to unsecured creditors of
the Company was settled by the payment of approximately $25,408
and the issuance of an aggregate of 275,150,815 Shares at $0.05
per Share to the unsecured creditors.  Under the Plan, the
settlement of the approximate $7,591,158 owed to secured creditors
is to be settled in two stages: (i) approximately $5,718,419 was
settled on the Plan Implementation Date by the issuance of an
aggregate of 114,368,382 Shares to the secured creditors, and (ii)
the remaining approximate $1,872,739 owed to secured creditors
will be settled by the payment within 12 months of Closing of this
amount plus interest at a rate of 3% per annum from the date of
Closing until the date of repayment in full.  Upon repayment in
full of the amounts owing to the secured creditors under the Plan,
the Monitor's final certificate will be filed with the Court
confirming that all distributions to the Company's creditors have
been made in accordance with the Plan which will be the final step
to the Company exiting CCAA creditor protection.  The Settlement
Shares are subject to a statutory hold period expiring on
March 22, 2015.  The payment of the settlement amounts constitutes
full, final and absolute settlement of all rights of the creditors
affected by the Plan.  The stay of proceedings granted to the
Company pursuant to the CCAA Proceedings has now been terminated.

In connection with implementation of the Restructuring, the
Company also entered into a settlement agreement with Waterton,
whereby the Company and Waterton agreed to settle the aggregate of
$12,367,460 owed to Waterton by the issuance of 108,992,918 Shares
to Waterton (which are included in the Secured Creditor Settlement
Shares issued on Closing) and the payment of $6,876,328, which
includes $1,784,717 of the Secured Creditor Settlement Payment
which represents Waterton's potion of that amount, to Waterton as
follows: (i) $2,876,328 on the Closing Date (paid); (ii)
$1,500,000 within 6 months of the Closing Date; and (iii)
$2,500,000 within 12 months of the Closing Date.  The Company has
agreed to pay interest to Waterton at a rate of 3% per annum on
the portion of the Waterton Settlement Amount which remains
outstanding after the Closing Date until such time as the full
Waterton Settlement Amount and interest thereon has been repaid,
with such interest to be paid on each payment of the Waterton
Settlement Amount.  Upon repayment in full of the Waterton
Settlement Amount and interest thereon, the Waterton Royalty will
be terminated and all of the security interests in the assets and
property of Huldra and its subsidiaries will be discharged.

On Closing of the Transaction, there were a total of 417,313,777
Shares issued and outstanding which are held on an undiluted basis
as follows: approximately 6.7% by the shareholders who held Shares
prior to Closing; approximately 27.4% by the secured creditors of
the Company under the CCAA proceedings; and approximately 65.9% by
the unsecured creditors of the Company under the CCAA proceeding.
On closing of the Restructuring, Waterton and Concept Capital
Management Ltd. both became control persons of the Company,
holding approximately 26.1% and 23.1%, respectively, of the issued
and outstanding Shares on an undiluted basis.  On a fully-diluted
basis, assuming conversion of the Debentures and interest thereon
and of all of the outstanding warrants and options, Waterton and
CCM will hold approximately 9.2% and 17%, respectively, of the
issued and outstanding Shares on a fully diluted basis.  The
additional Shares held by CCM on a fully-diluted basis are
attributable to additional Shares being issued to CCM on
conversion of the principal amount of the $5,850,000 in Debentures
issued to them pursuant to the First Tranche.

Appointment of New Director

The Company also disclosed that Frank Hogel will join its Board of
Directors effective immediately.  Mr. Hogel's international
financing experience, expertise with Canadian resource companies,
experience in the corporate finance and mining and mineral
exploration industries, and ability to analyze expansion and
acquisition opportunities are expected to add value to the Huldra
team as the Company implements on its CCAA Restructuring pursuant
to the Plan and move towards building its future.  Mr. Hogel is an
Asset Manager actively involved in the financial evaluation of
companies and convertible debenture structuring, and sits on the
advisory board of CCM.  His background includes more than 13 years
of direct experience in the mining industry, expertise as an
international financier/investor and successful track record stock
consultant and stock broker in London, England.  Mr. Hogel holds a
degree in Economics and International business and Management from
the University of Nurtingen in Germany and a Finance Degree (DTV)
as a tested finance and stock consultant.

Peter Espig, Chief Executive Officer, commented, "Closing of First
Tranche financing is a significant milestone in helping the
Company improve its financial stability that will allow it to
focus on unlocking the value of its assets, which includes a new
processing mill and tailings facility near Merritt, BC.  During
this difficult year the Huldra team has worked tenaciously and
never stopped believing in the project.  We are also very
fortunate to have Frank Hogel join our team, as we move Huldra
into a new chapter.  His support is greatly appreciated and we
look forward to working with him in the future."

                          About Huldra

Headquartered in Vancouver, Canada, Huldra Silver Inc. --
http://www.huldrasilver.com/-- is a junior exploration company
engaged in the business of acquiring, exploring and developing
mineral and natural resource properties.


IMPERIAL METALS: Moody's Lowers Corporate Family Rating to Caa1
---------------------------------------------------------------
Moody's Investors Service downgraded Imperial Metals Corporation's
Corporate Family rating to Caa1 from B2, Probability of Default
rating to Caa1-PD from B2-PD, and senior unsecured rating to Caa2
from B3. The company's speculative liquidity rating was affirmed
at SGL-4. IMC's outlook is negative. This concludes the ratings
review initiated August 5, 2014 following the tailings dam breach
at IMC's Mount Polley mine in British Columbia, Canada.

Ratings Rationale

"We downgraded Imperial Metal's ratings over Moody concern that
the company may not have sufficient liquidity to fund its near
term cash needs", said Darren Kirk, Moody's vice president and
senior credit officer.

IMC's Caa1 Corporate Family rating is driven by the company's weak
liquidity, including the potential that IMC might be illiquid in
December unless it receives an expected payment from BC Hydro or
makes other financing arrangements. As well, Moody's believes
there could be a delay in obtaining the tailings discharge permit
needed to start up its Red Chris copper-gold mine in December,
given potential broader implications from the tailings dam breach
at Mount Polley. This would leave the company with insufficient
cash flow to service its debt and other cash needs, including
Mount Polley clean up, recovery and rehabilitation costs. However,
if IMC is able to remain liquid and reach commercial production at
Red Chris, Moody's believes the company's adjusted leverage could
trend below 6x within a 12 month horizon. Red Chris benefits from
its location in a favorable mining jurisdiction (British
Columbia), long reserve life, multi-metal diversity, and low
expected costs.

IMC's liquidity is weak (SGL-4) given $18 million of cash and $60
million of committed availability under its revolvers at September
30, 2014, which is inadequate to fund cash outflows that Moody's
estimates may total $80 million to $90 million in Q4/14. The
company expects to complete the sale of a transmission line to BC
Hydro for $52 million in December, which would be sufficient to
fund the shortfall. Beyond the end of 2014, Moody's expects the
company's notional liquidity will remain tight until Red Chris
achieves commercial production, although there is the potential
that the company may breach its bank facility covenants in the
event this does not occur by June 1, 2015.

The negative outlook reflects pressure on the company's rating
that will persist until its weak liquidity, and permitting and
commissioning risks at Red Chris are resolved.

A higher rating would require Red Chris to achieve commercial
production, and Moody's to expect IMC would maintain at least
adequate liquidity and reduce its adjusted financial leverage
below 6x.

A lower rating could occur if IMC was unable to fund its cash
requirements as they became due.

Headquartered in Vancouver, British Columbia, Imperial Metals
Corporation wholly owns the Mount Polley mine and 50% of the
Huckleberry mine, as well as Red Chris, a $643 million copper-gold
development, all of which are located in British Columbia, Canada.

Downgrades:

Issuer: Imperial Metals Corporation

  Probability of Default Rating, Downgraded to Caa1-PD from B2-PD

  Corporate Family Rating, Downgraded to Caa1 from B2

  Senior Unsecured Regular Bond/Debenture, Downgraded to
  Caa2(LGD4) from B3(LGD4)

Outlook Actions:

  Outlook, Changed To Negative From Rating Under Review

Affirmations:

  Speculative Grade Liquidity Rating, Affirmed SGL-4

The principal methodology used in these ratings was Global Mining
Industry published in August 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.


INDEPENDENCE TAX IV: Delays Form 10-Q for Third Quarter
-------------------------------------------------------
Independence Tax Credit Plus L.P. IV was not be able to timely
file its quarterly report on Form 10-Q for the period ended
Sept. 30, 2014, due to significant changes in the senior
management, according to a regulatory filing with the U.S.
Securities and Exchange Commission.

On Nov. 14, 2013, Robert A. Pace resigned as a chief financial
officer and principal accounting officer and was subsequently
replaced by Mark B. Hattier.  Also, on Nov. 14, 2013, Robert L.
Levy resigned as president and chief executive officer and was
subsequently replaced by Alan T. Fair.

"While the Partnership's new officers have been working diligently
to familiarize themselves with the Partnership's operations and to
accomplish a timely filing of its Quarterly Report on Form 10-Q
for the period ended Sept. 30, 2014, they require additional time
to finalize the report within the spirit as well as the letter of
the Commission's rules," the Company stated in the filing.

                     About Independence Tax IV

New York-based Independence Tax Credit Plus L.P. IV is a limited
partnership which was formed under the laws of the State of
Delaware on Feb. 22, 1995.

On July 6, 1995, the Partnership commenced a public offering of
Beneficial Assignment Certificates representing assignments of
limited partnership interests in the Partnership.  The Partnership
received $45,844,000 of gross proceeds from the Offering from
2,759 investors.  The Offering was terminated on May 22, 1996.

The Partnership's initial business was to invest in other
partnerships owning leveraged apartment complexes that are
eligible for the low-income housing tax credit enacted in the Tax
Reform Act of 1986, some of which may also be eligible for the
historic rehabilitation tax credit.

The Partnership is currently in the process of developing a plan
to dispose of all of its investments.  It is anticipated that this
process will take a number of years.

Independence Tax Credit Plus L.P. IV reported a net loss of $2.71
million on $3.6 million of total revenues for the fiscal year
ended March 31, 2014, compared to a net loss of $967,365 on $3.45
million of total revenues for the year ended March 31, 2013.

The Company's balance sheet at June 30, 2014, showed $4.53 million
in total assets, $26.59 million in total liabilities and a $22.05
million total partners' deficit.


INTERNATIONAL TEXTILE: Wilbur Ross Quits From Board
---------------------------------------------------
Wilbur L. Ross, Jr., resigned from International Textile Group,
Inc.'s Board of Directors effective Nov. 20, 2014.

As previously announced by WL Ross & Co. LLC, Mr. Ross, the
Chairman of the Board of International Textile, has been elected
vice chairman of the Bank of Cyprus.  In accordance with European
banking rules, Mr. Ross is required to resign as a member of
several boards of directors, including that of the Company.

                    About International Textile

International Textile Group, Inc., is a global, diversified
textile manufacturer headquartered in Greensboro, North Carolina,
with current operations principally in the United States, China,
Mexico, and Vietnam.  ITG's long-term focus includes the
realization of the benefits of its global expansion, including
reaching full production at ITG facilities in China and Vietnam,
and continuing to seek other strategic growth opportunities.

International Textile reported a net loss attributable to common
stock of the Company of $10.91 million in 2013, as compared with a
net loss attributable to common stock of the Company of $91.45
million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $338.71
million in total assets, $403.48 million in total liabilities and
a $64.76 million total stockholders' deficit.


ITR CONCESSION: Porter County Won't Bid for Lease
-------------------------------------------------
Jeff Schultz at the Chesterton Tribune reports that Porter County
has decided not to join a coalition of Northern Indiana counties
bidding to purchase the Indiana Toll Road lease.

Board President, John Evans, R-North, said during the County
Commissioner meeting last week that LaPorte County officials
reached out just a few days ago offering Porter County a place in
the bid for the lease, Chesterton Tribune relates.

According to Chesterton Tribune, it was revealed that LaPorte
County Commissioners were putting together resolutions in time for
a Nov. 20 deadline for the bid and they sought the participation
of other counties along the Toll Road corridor.

The board has not had enough time to analyze "the entire project,"
with just a few days to the deadline, Chesterton Tribune states,
citing Mr. Evans.  Mr. Evans said that "to act on that today would
not be prudent," and the price to join the bid consortium led by
LaPorte would be $10,000 up front, and "I just don't think we are
ready to do that," according to the report.

                       About ITR Concession

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

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

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

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


JACK JOHNSON: Blames Bankr. on Parents; California House on Sale
----------------------------------------------------------------
Aaron Portzline at The Columbus Dispatch reports that
Columbus Blue Jackets defenseman Jack Johnson filed on Oct. 7,
2014, for Chapter 11 bankruptcy protection in the U.S. Bankruptcy
Court for the Southern District Court of Ohio.

Court documents show that Mr. Johnson has little left of the
almost $18 million he has earned throughout his nine-year NHL
career.  He listed less than $50,000 in total assets and more than
$10 million in total debts.  According to the documents, Mr.
Johnson owed more than $1.68 million to unsecured creditors.  Mr.
Johnson has three seasons remaining on the $30.5 million deal,
Katie Strang at ESPN.com relates.

Los Angeles Times reports that Mr. Johnson has listed the home in
Manhattan Beach, California, for sale at $1.65 million.  Columbus
Dispatch says that Mr. Johnson claims that Tina Johnson and his
father Jack Sr. purchased the house in Manhattan Beach with his
money but without informing him.  According to ESPN.com, the
mortgage on the house had a 12% rate, while a loan for $3 million
was at 24%, leading to huge fees and, ultimately, default.

Columbus Dispatch relates that before Mr. Johnson signed his
seven-year, $30.5 million deal in 2011, he granted power of
attorney to his mother, Tina Johnson, that gave her full control
of his finances.  Mr. Johnson's parents, ESPN.com relates,
borrowed $15 million against their son's future earnings.  The
Dispatch states that many of the loans carried high interest
rates.  Columbus Dispatch adds that Mr. Johnson's parents
allegedly each purchased a car, spent more than $800,000 on
upgrades to the Manhattan Beach property and traveled, often to
see him play NHL games for the Kings and Blue Jackets.

Mr. Johnson has cut off all contact with his family, Columbus
Dispatch reports, citing a source.  "I'd say I picked the wrong
people who led me down the wrong path.  I've got people in place
who are going to fix everything now.  It's something I should have
done a long time ago," the report quoted Mr. Johnson as saying.

Marc Kessler, Esq., an attorney based in Columbus, serves as Mr.
Johnson's bankruptcy counsel, according to Columbus Dispatch.  He
is reportedly surrounded by financial advisers and a legal team to
protect his interests, but he won't file criminal charges against
his parents, Columbus Dipatch adds.

ESPN.com reports that Mr. Johnson has asked the Court to allow him
to maintain his existing bank accounts so as to continue payment
for living expenses.  Court documents show that at the date of
petition, he carried a balance of $6,339 in his checking account
and $2,202.62 in his savings account.


KINDER MORGAN: Moody's Hikes Junior Subordinated Rating to Ba1
--------------------------------------------------------------
Moody's Investors Service has completed its review of Kinder
Morgan Inc.'s (KMI) ratings and has upgraded the senior unsecured
rating to Baa3 to reflect the contemplated merger of KMI with
Kinder Morgan Energy Partners, L.P. (KMP) and El Paso Pipeline
Partners Operating Company LP (EPBO). Contemporaneously, Moody's
downgraded the rating of KMP to Baa3 and upgraded the rating of
EPBO to Baa3. All three companies were assigned a stable outlook.
The equalization of the ratings reflects the cross-guarantee of
debt among the three issuers. Additional upgrades and downgrades
were made to subsidiaries of KMI to reflect the impact of the
widespread cross-guarantee of debt and elimination of structural
subordination.

Rating Actions:

Kinder Morgan Inc. (part of cross-guarantee group)

Corporate Family Rating, withdrawn

Probability of Default Rating, withdrawn

Speculative Grade Liquidity Rating, withdrawn

Senior Unsecured Rating -- assigned Baa3, previously Senior
Secured at Ba2 (LGD3)

Senior Shelf -- assigned (P)Baa3

Commercial Paper Rating -- assigned Prime-3

Outlook is stable

Kinder Morgan Finance Company, LLC (fka ULC)
(part of cross-guarantee group)

Senior Unsecured -- assignedaa3, previously Senior Secured at
Ba2 (LGD3)

Outlook is stable

Kinder Morgan Kansas Inc. (previously merged into KMI)
(part of cross-guarantee group)

  Backed Senior Unsecured Rating -- assigned Baa3, previously
  Senior Secured at Ba2 (LGD3)

  Backed Junior Subordinated Rating -- upgraded to Ba1 from B1
  (LGD6)

  Outlook is stable

KN Capital Trust I (not part of cross-guarantee group)

  Backed Preferred Stock, upgraded to Ba1 from B1 (LGD6)

  Outlook is stable

KN Capital Trust III (not part of cross-guarantee group)

  Backed Preferred Stock is upgraded to Ba1 from B1 (LGD6)

  Outlook is stable

Kinder Morgan G.P., Inc. (not part of cross-guarantee group)

Preferred Stock is confirmed at Ba2

Outlook is stable

Kinder Morgan Energy Partners, L.P. (part of cross-guarantee
group)

  Senior Unsecured Rating -- downgraded to Baa3 from Baa2

  Senior Unsecured Shelf -- downgraded to (P)Baa3 from (P)Baa2

  Backed Senior Unsecured Shelf -- downgraded to (P)Baa3 from
  (P)Baa2

  Backed Subordinated Shelf -- downgraded to (P)Ba1 from (P)Baa3

  Commercial Paper Rating -- withdrawn

  Outlook is stable

El Paso Natural Gas Company (part of cross-guarantee group)

  Senior Unsecured Rating is downgraded to Baa3 from Baa1

  Outlook is stable

El Paso Tennessee Pipeline Co. (part of cross-guarantee group)

  Senior Unsecured Rating is downgraded to Baa3 from Baa2

  Outlook is stable

Tennessee Gas Pipeline Company (part of cross-guarantee group)

  Senior Unsecured Rating is downgraded to Baa3 from Baa1

  Outlook is stable

Copano Energy, LLC. (previously merged into KMP)
(part of cross-guarantee group)

  Senior Unsecured Rating is downgraded to Baa3 from Baa2

  Outlook is stable

El Paso Holdco LLC (previously merged into KMI)
(part of cross-guarantee group)

  Senior Unsecured Rating - upgraded to Baa3 from Ba2 (LGD3)

  Backed Senior Unsecured Rating -- assigned Baa3, previously
  Senior Secured at Ba2 (LGD3)

  Backed Subordinate Rating -- upgraded to Ba1 from B1 (LGD6)

El Paso Energy Capital Trust I
(not part of cross-guarantee group)

  Backed Preferred Stock - upgraded to Ba1 from B1 (LGD6)

  Outlook is stable

El Paso Pipeline Partners Operating Company
(part of cross-guarantee group)

  Corporate Family Rating is withdrawn

  Probability of Default Rating is withdrawn

  Speculative Grade Liquidity Rating is withdrawn

  Backed Senior Unsecured Shelf is withdrawn

  Backed Senior Unsecured is Upgraded to Baa3 from Ba1 (LGD4)

  Outlook is stable

Southern Natural Gas Company (part of cross-guarantee group)

  Backed Senior Unsecured Rating, confirmed at Baa3

  Outlook is stable

El Paso CGP Company (debt assumed by KMI) (not part of cross-
guarantee group)

  Senior Unsecured Rating -- assigned Baa3, previously Senior
  Secured at Ba2 (LGD3)

  Outlook is stable

Colorado Interstate Gas Company (part of cross-guarantee group)

  Senior Unsecured Rating, confirmed at Baa3

  Outlook is stable

Sonat Inc. (merged into KMI) (part of cross-guarantee group)

  Backed Senior Unsecured Rating -- assigned Baa3, previously
  Senior Secured at Ba2 (LGD3)

  Outlook is stable

"KMI's combined set of assets generates high quality, mostly fee-
based cash flow that could support a strong Baa rating," said
Stuart Miller, Moody's Vice President and Senior Credit Officer.
"However, KMI's aggressive financial policy that includes
relatively high leverage and a very high dividend payout ratio
position the rating as a weak Baa3."

Ratings Rationale

The combination of KMI, KMP, and EPBO creates one of the largest
energy companies in the US capable of generating stable cashflow
through a portfolio of midstream energy assets. The combination
also significantly reduces the structural complexity of the
organization. Through cross-guarantees, creditors will have pari
passu, unsecured claims against most of the organization's assets
and cash flow, removing nearly all of the structural subordination
that existed under the previous organizational structure with two
publicly traded master limited partnerships (MLP). The elimination
of the two MLPs is a credit-positive development as MLPs are
contractually obligated to distribute their cash flow to unit
holders. While KMI plans to maintain an aggressive dividend policy
going forward, Moody's believes the dividend program is marginally
better than the MLP contractual distribution obligation.

In 2015, KMI projects the ratio of debt to EBITDA will be 5.6x,
but intends to manage leverage between 5.0x and 5.5x going
forward. Moody's projections arrive at the same 5.6x leverage but
include adjustments for operating leases ($750 million of debt and
increased EBITDA by $125 million), unfunded pension liabilities
($230 million of debt), consolidation of Kinder's share of joint
venture debt and EBITDA, and a $400 million reduction to EBITDA to
reflect the amount of investment that Moody's believes is
necessary to offset natural production decline rates in the CO2
business. With debt to EBITDA of 5.6x and the ratio of funds from
operations minus dividends to debt of less than 5%, KMI will be
more leveraged than most, if not all, of its investment grade
peers. The proposed dividend payout of $2.00 per share in 2015
with 10% annual growth for the next five years will also position
KMI with one of the lowest dividend coverage ratios in the
industry. For these reasons, Moody's believes that the re-
structured company is weakly positioned within the Baa3 rating
category despite its industry-leading scale. According to the
company, a part of the rationale for the merger of the three
companies is to make its equity shares a more attractive currency
to be used in future business acquisitions. Moody Baa3 rating
contemplates that leverage will be reduced to the 5.0x to 5.5x
range in the next few years through a combination of internal
growth projects and acquisitions, although no specific
acquisitions have been identified.

The ratings for all of KMI's subsidiaries subject to the cross-
guarantee were revised to Baa3. The convertible subordinate
ratings, junior subordinate ratings and subordinate shelf were
changed to Ba1. KN Capital Trust I, KN Capital Trust III, and Paso
Energy Capital Trust I had their unguaranteed preferred stock
ratings revised to Ba1 to reflect the subordinated debt that
structurally backstops these obligations. The rating of Kinder
Morgan GP, Inc.'s preferred stock was confirmed at Ba2 as its
obligations are not guaranteed and are contractually subordinated
to KMI's subordinated debt obligations.

Post closing, KMI's liquidity is considered to be adequate.
Operating cashflow will be mostly distributed to shareholders in
the form of dividends leaving little available to reinvest in the
business to fund intended growth. This will create a high degree
of reliance on external sources of funding. The company has a $4
billion committed revolving line of credit which is available for
general corporate purposes and serves as back up to a similarly-
sized commercial paper program. The credit facility matures in
November 2019 and includes a debt to EBITDA maintenance covenant
that starts at 6.5x leverage with step downs to 6.0x in 2019. At
the end of November 2014, Moody expect KMI will have more than
$2.5 billion of availability under the credit facility. The new
credit facility is unsecured, therefore KMI will have the ability
to sell assets to generate liquidity.

The outlook is stable, however Moody's considers the company
weakly positioned in its Baa3 rating level. A large increase in
leverage or a debt funded share buyback could lead to a down
grade. Leverage maintained above 6.0x would trigger a hard look at
the company's de-leveraging plans. An upgrade is very unlikely in
the near term although if the company's debt to EBITDA is
sustained below 5.0x or if the ratio of funds from operations
minus dividends to debt moves above 5%, it could signal a
moderation in KMI's historically aggressive financial policy that
could lead to an upgrade.

The methodologies used in these ratings were Global Midstream
Energy published in December 2010, and Natural Gas Pipelines
published in November 2012.

Kinder Morgan Inc. is one of the largest midstream energy
companies in the US. Kinder Morgan Inc. operates product
pipelines, natural gas pipelines, liquids and bulk terminals, and
CO2, oil, and natural gas production and transportation assets.
The company is headquartered in Houston, Texas.


KINDER MORGAN: S&P Raises Corp. Credit Rating From 'BB'
-------------------------------------------------------
Standard & Poor's Ratings Services said it raised KMI's corporate
credit rating and senior unsecured issue rating to 'BBB-' from
'BB' and removed the ratings from CreditWatch, where S&P placed
them with positive implications on Aug. 11, 2014.  This action
follows the company's announcement that most shareholders of KMI
and KMR and the unitholders of KMP and EPB voted for the merger
transaction under which KMI will acquire all of the entities'
publicly held shares/units.

Other rating actions associated with the announcement include:

   -- S&P lowered KMP's corporate credit rating, including those
      of operating subsidiaries Copano Energy and Tennessee Gas
      Pipeline, to 'BBB-' from 'BBB'.  S&P also lowered KMP's
      short-term rating to 'A-3' from 'A-2', and removed all
      ratings from CreditWatch negative.

   -- S&P lowered EPB's corporate credit rating, including those
      of its operating subsidiaries Southern Natural Gas and
      Colorado Interstate Gas, to 'BBB-' from 'BBB' and removed
      the ratings from CreditWatch negative.

   -- S&P affirmed EPNG's 'BBB-' rating.  The outlook is stable.

As of Sept. 30, 2014, KMI had consolidated debt of about $36.1
billion.

The rating action reflects KMI's "excellent" business risk profile
and "highly leveraged" financial risk profile.  The combined KMI
has a geographically diverse asset base that generates primarily
fee-based, stable EBITDA, and has a strong competitive position in
most of the markets it serves.  KMI is one of the largest energy
companies in North America, and is significantly larger (in terms
of scale and cash flow) than its U.S. and Canadian midstream
energy peers.  Somewhat tempering the benefits to creditors of the
combined KMI are the company's aggressive financial policies,
namely high financial leverage and the reliance on the capital
markets to fund large discretionary cash flow deficits.

"In certain aspects, we view KMI's simplified corporate structure
as supportive of credit quality, because it creates a single
corporate entity and eliminates the structural subordination of
debt, as well as multiple layers of equity distributions to
service the debt obligations," said Standard & Poor's credit
analyst Michael Grande.

At the same time, S&P expects the combined KMI to use the vast
majority of its free cash flow (after maintenance-related capital
spending) to pay dividends to equityholders each quarter, and
hence would face similar financial constraints as the typical MLP.

The stable rating outlook on KMI reflects S&P's expectation that
financial leverage will be slightly above 5.5x through 2017 as the
company finances and executes a large organic spending program,
which will result in improved credit measures in the low 5x area
as project cash flows are realized.


KIOR INC: Idled Biofuels Plant in Columbus May Be Sold as Scrap
---------------------------------------------------------------
KiOR, Inc.'s idled biofuels plant in Columbus, Texas, may end up
being sold as scrap, Jack Weatherly at Mississippi Business
Journal reports, citing Pavel Molchanov, an equity analyst at
Raymond James and Associates who had covered Pasadena.

Mr. Molchanov, according to Business Journal, said that finding a
buyer for the plant would be a tough sell, and that the state will
be fortunate to recoup 10 to 15 percent of the $69.4 million
balance left in a $75 million no-interest loan it made for the
plant, which stopped producing fuel in January 2014.  The report,
citing Mr. Molchanov, relates that the loan is secured by the $218
million plant, "which even on the best of days never functioned
particularly well."

                          About Kior Inc.

KiOR, Inc., and wholly owned subsidiary KiOR Columbus, LLC, are
development stage, renewable fuels companies based in Pasadena,
Texas and Columbus, Mississippi, respectively.  KiOR, Inc., was
founded in 2007 as a joint venture between Khosla Ventures, LLC,
and BIOeCon B.V.  KiOR Inc.'s primary business is the development
and commercialization of a ground-breaking proprietary technology
designed to generate a renewable crude oil from non-food
cellulosic biomass.

KiOR, Inc. filed a Chapter 11 petition (Bankr. D. Del. Case No.
14-12514) on Nov. 9, 2014, in Delaware.   Through the chapter 11
case, the Debtor intends to reorganize its business or sell
substantially all of its assets so that it can continue its core
research and development activities.  KiOR Columbus did not seek
bankruptcy protection.

The Debtor disclosed $58.27 million in assets and $261.3 million
in liabilities as of June 30, 2014.

The Debtor is represented by Mark W. Wege, Esq., Edward L. Ripley,
Esq., and Eric M. English, Esq., at King & Spalding, LLP, in
Houston, Texas; and John Henry Knight, Esq., Michael Joseph
Merchant, Esq., and Amanda R. Steele, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware.  The Debtor's financial
advisor is Alvarez & Marsal.  Guggenheim Securities, LLC, is the
Debtor's investment banker.  Epiq Bankruptcy Solutions, LLC, is
the Debtor's claims and noticing agent.

Pasadena Investments, LLC, as administrative agent for a
consortium of lenders, committed to provide up to $15,000,000 in
postpetition financing.  The DIP Agent is represented by Thomas E.
Patterson, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP, in Los
Angeles, California, and Michael R. Nestor, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware.


LAKELAND INDUSTRIES: Registers 1.1-Mil. Common Shares for Resale
----------------------------------------------------------------
Lakeland Industries, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-3 registration statement in
connection with the resale by Anson Investments Master Fund LP,
Burguete Investment Partnership, L.P., Craig-Hallum Capital Group
LLC, et al., of up to an aggregate of 1,165,500 shares of the
Company's common stock, consisting of:

    (i) 1,110,000 shares of the Company's common stock issued in a
        private placement transaction completed on Oct. 29, 2014;
        and

   (ii) 55,500 shares of the Company's common stock issuable upon
        the exercise of a certain warrant held by the placement
        agent in the private placement.

The Company is not offering any shares of common stock for sale
under this prospectus and the Company will not receive any of the
proceeds from the sale or other disposition of the shares covered
hereby.  However, the Company will receive the proceeds of any
cash exercise of the warrant.

The Company's common stock is currently traded on The NASDAQ
Global Market under the symbol "LAKE."  As of Nov. 19, 2014, the
closing sale price for the Company's common stock as reported by
The NASDAQ Global Market was $10.76 per share.

A full-text copy of the Form S-3 prospectus is available at:

                       http://is.gd/ukgosV

                    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.


LDK SOLAR: Bankruptcy Court Confirms U.S. Chapter 11 Plan
---------------------------------------------------------
LDK Solar CO., Ltd. in provisional liquidation and its Joint
Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Nov. 24 disclosed that, on
November 21, 2014, Judge Peter J. Walsh of the United States
Bankruptcy Court for the District of Delaware entered an order
confirming the prepackaged plan of reorganization for the three
U.S. subsidiaries of LDK Solar -- LDK Solar Systems, Inc., LDK
Solar USA, Inc. and LDK Solar Tech USA, Inc.  The U.S. Debtors
previously filed voluntary petitions in the U.S. Bankruptcy Court
on October 21, 2014 to reorganize under Chapter 11 of the United
States Bankruptcy Code.

In addition to entry of the Confirmation Order, the U.S.
Bankruptcy Court also entered an order recognizing LDK Solar's
provisional liquidation proceeding in the Grand Court of the
Cayman Islands as a foreign main proceeding under Chapter 15 of
the United States Bankruptcy Code, and an additional order
recognizing and giving full force and effect in the jurisdiction
of the United States to LDK Solar's Cayman Islands scheme of
arrangement.

"We are very pleased that the U.S. Bankruptcy Court has confirmed
our prepack plan for our U.S. subsidiaries and has recognized our
Cayman Islands scheme of arrangement.  The U.S. Bankruptcy Court's
rulings, which follow favorable rulings from the Grand Court of
the Cayman Islands and the High Court of Hong Kong, are the final
court approvals necessary for us to execute the various documents
with our creditors to consummate the international restructuring
of our offshore liabilities," stated Xingxue Tong, Interim
Chairman, President and CEO of LDK Solar.  "Now with more than
US$700 million in our offshore claims judicially approved for
restructuring, we can focus our attention on rebuilding LDK
Solar's position in the marketplace," concluded Mr. Tong.

Copies of the Chapter 11 Plan, Confirmation Order, Recognition
Order and Enforcement Order are available on the website of the
U.S. Debtors' agent, Epiq Bankruptcy Solutions, LLC, at
http://dm.epiq11.com/LDK

                       About LDK Solar

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

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

LDK Solar in February 2014 filed in the Cayman Islands for the
appointment of provisional liquidators, four days before it was
due to make a $197 million bond repayment.  Its Joint
Provisional Liquidators are Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22.

In September 2014, LDK SOalr, LDK Silicon and LDK Silicon Holding
Co., Limited each applied to file an originating summons to
commence their restructuring proceedings in the High Court of Hong
Kong.

On Oct. 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

On Oct. 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands.  The Chapter
15 case is In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-
12387).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.


LOGAN'S ROADHOUSE: S&P Puts 'B-' CCR on CreditWatch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on
Nashville, Tenn.-based restaurant operator Logan's Roadhouse Inc.,
including its 'B-' corporate credit rating and 'B-' issue-level
rating on its $355 million 10.75% senior secured notes, on
CreditWatch with negative implications.

"The negative CreditWatch placement reflects Logan's continued
earnings underperformance and prospects for reduced liquidity,"
said Standard & Poor's credit analyst Samantha Stone.

EBITDA continues to decline as a result of weak same-restaurant
sales that more than offset cost reductions.  The decline in same-
restaurant sales is a result of a mid-to-high single-digit
decrease in guest traffic despite modest growth in average check.
For the fiscal year ended Aug. 3, 2014, revenue decreased 1.3%,
while EBITDA declined approximately 22%.  As a result of these
trends, cash flow from operations was modestly negative.  S&P
estimates liquidity, as of the first quarter of 2015, to include
some cash on hand and roughly $12 million of availability under
the revolving credit facility.  S&P believes cash flow from
operations could remain negative to breakeven over the near term
as the company implements strategic initiatives to drive growth
while managing operating costs.

Resolution of the CreditWatch listing will depend on Logan's
success in extending the existing revolver that expires in Oct.
2015, or securing a new revolving credit facility to ensure
continued liquidity for its operating and financing needs.
Failure to adequately and timely address the revolver maturity or
make substantial progress to ensure sufficient liquidity for the
upcoming year could lead to a downgrade.


LDK SOLAR: Bankruptcy Court Confirms U.S. Chapter 11 Plan
---------------------------------------------------------
LDK Solar CO., Ltd. in provisional liquidation and its Joint
Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Nov. 24 disclosed that, on
November 21, 2014, Judge Peter J. Walsh of the United States
Bankruptcy Court for the District of Delaware entered an order
confirming the prepackaged plan of reorganization for the three
U.S. subsidiaries of LDK Solar -- LDK Solar Systems, Inc., LDK
Solar USA, Inc. and LDK Solar Tech USA, Inc.  The U.S. Debtors
previously filed voluntary petitions in the U.S. Bankruptcy Court
on October 21, 2014 to reorganize under Chapter 11 of the United
States Bankruptcy Code.

In addition to entry of the Confirmation Order, the U.S.
Bankruptcy Court also entered an order recognizing LDK Solar's
provisional liquidation proceeding in the Grand Court of the
Cayman Islands as a foreign main proceeding under Chapter 15 of
the United States Bankruptcy Code, and an additional order
recognizing and giving full force and effect in the jurisdiction
of the United States to LDK Solar's Cayman Islands scheme of
arrangement.

"We are very pleased that the U.S. Bankruptcy Court has confirmed
our prepack plan for our U.S. subsidiaries and has recognized our
Cayman Islands scheme of arrangement.  The U.S. Bankruptcy Court's
rulings, which follow favorable rulings from the Grand Court of
the Cayman Islands and the High Court of Hong Kong, are the final
court approvals necessary for us to execute the various documents
with our creditors to consummate the international restructuring
of our offshore liabilities," stated Xingxue Tong, Interim
Chairman, President and CEO of LDK Solar.  "Now with more than
US$700 million in our offshore claims judicially approved for
restructuring, we can focus our attention on rebuilding LDK
Solar's position in the marketplace," concluded Mr. Tong.

Copies of the Chapter 11 Plan, Confirmation Order, Recognition
Order and Enforcement Order are available on the website of the
U.S. Debtors' agent, Epiq Bankruptcy Solutions, LLC, at
http://dm.epiq11.com/LDK

                       About LDK Solar

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

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

LDK Solar in February 2014 filed in the Cayman Islands for the
appointment of provisional liquidators, four days before it was
due to make a $197 million bond repayment.  Its Joint
Provisional Liquidators are Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22.

In September 2014, LDK SOalr, LDK Silicon and LDK Silicon Holding
Co., Limited each applied to file an originating summons to
commence their restructuring proceedings in the High Court of Hong
Kong.

On Oct. 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

On Oct. 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands.  The Chapter
15 case is In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-
12387).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.


LOLETA CHEESE: Files for Ch 11, Wants to Sell Farming Equipment
---------------------------------------------------------------
Loleta Cheese Company, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Calif. Case No. 14-11620) on Nov. 19,
2014, estimating its assets and liabilities at $1 million to $10
million each.  The petition was signed by Robert E. Laffranchi,
president.

Loleta Cheese CFO Nicole Laffranchi asserted in a declaration to
the Court that the Debtor did not run into trouble because of
unsecured debts, but its hand was forced by one of its secured
creditors, Loleta Operations LLC, which is owed roughly $400,000.
According to the declaration, the debt is secured by farming
equipment that the Debtor no longer uses.  The Debtor is asking
the Court to let it sell the equipment, which Ms. Laffranchi
believes will allow the Debtor to almost entirely pay off the
debt, Hank Sims, writing for Lostcoastoutpost.com, relates.

Loleta Operations won a temporary restraining order in Humboldt
County Superior Court this month, which "prevents the Debtor from
continuing to manage its assets and to remain in business,"
forcing the Debtor to file for bankruptcy, Lostcoastoutpost.com
reports, citing Ms. Laffranchi.  According to the report, Ms.
Laffranchi claims that Loleta Operations "wants to take over the
Debtor's business."

Ms. Laffranchi, Lostcoastoutpost.com says, asserted that her debt
to Loleta Operations, which, according to the California Secretary
of State's office, was created in August 2014, belonged, until
then, to the Bear River Band of Rohnerville Rancheria.

A Dec. 5, 2014 hearin is set for the Court to determine whether or
not the Debtor may use certain of its current assets to pay off
the Loleta Operations debt, Lostcoastoutpost.com reports.

Judge Alan Jaroslovsky presides over the case.  Steven M. Olson,
Esq., at the Law Offices Of Steven M. Olson, serves as the
Debtor's bankruptcy counsel.

                        About Loleta Cheese

Headquartered in Loleta, California, Loleta Cheese Company, Inc.,
has been putting out Humboldt County-made cheeses since 1982 and
operates the Cheese Factory, a popular attraction in downtown
Loleta.  It was founded by Bob and Carol Laffranchi.  It currently
employs 21 people.


LVBK LLC: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------
Debtor: LVBK, LLC
        4770 Barela Way
        Las Vegas, NV 89147

Case No.: 14-17789

Chapter 11 Petition Date: November 21, 2014

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. August B. Landis

Debtor's Counsel: David J. Winterton, Esq.
                  DAVID J. WINTERTON & ASSOC., LTD.
                  1140 N Town Center Dr, Ste 120
                  Las Vegas, NV 89144
                  Tel: (702) 363-0317
                  Fax: 702-363-1630
                  Email: david@davidwinterton.com

Total Assets: $2.84 million

Total Liabilities: $49,742

The petition was signed by Steven T. Gregory, manager.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/nvb14-17789.pdf


MARY SANTIAGO: Ruling Favors New Yorkers with Regulated Apts.
-------------------------------------------------------------
Josh Barbanel, writing for The Wall Street Journal, reported that
about 1 million New Yorkers who live in rent-regulated apartments
won broad legal protections to file for bankruptcy without fear of
losing rights to their homes under a decision issued Nov. 20 by
the state's highest court.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the New York Court of Appeals, in the case
involving an 80-year old East Village woman's bankruptcy, removed
the threat that people who file for bankruptcy in the state will
be evicted from valuable apartments even though they're current on
the rent.

In the Nov. 20 opinion, the New York court concluded that rent-
stabilization rights are an exempt asset as a form of public
benefit, which a bankruptcy trustee can't sell, Bloomberg related.
Writing for herself and four other judges, Associate Judge Sheila
Abdus-Salaam said that when the law is considered "against the
backdrop of the crucial role that it plays in the lives of New
York residents," it's evident that the program is a public benefit
that becomes an exempt asset which creditors or trustees can't
touch, the Bloomberg report further related.

The Journal related that tenant advocates characterized the
decision by the Court of Appeals an important victory, saying that
many low-income tenants had declined to seek protection from bill
collectors available under federal bankruptcy laws because they
feared of losing their apartments.

The state case is Santiago-Monteverde v. Pereira (In re Santiago-
Monteverde), CTQ-2014-00004, New York Court of Appeals (Albany).

The federal appeal is Santiago-Monteverde v. Pereira (In re
Santiago-Monteverde), 12-4131, U.S. Court of Appeals for the
Second Circuit (Manhattan).  The district court case was Santiago-
Monteverde v. Pereira (In re Santiago-Monteverde), 12-4238, U.S.
District Court, Southern District of New York (Manhattan).


MCCLATCHY CO: Bestinver Gestion Reports 9.8% of Class A Shares
--------------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission on Nov. 14, 2014, Bestinver Gestion S.A., SGIIC
disclosed that it beneficially owned 6,162,540 shares of
Class A Common Stock of The McClatchy Company representing 9.86
percent of the shares outstanding.  A full-text copy of the
regulatory filing is available at http://is.gd/orpYNu

                      About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is the third largest newspaper
company in the United States, publishing 30 daily newspapers, 43
non-dailies, and direct marketing and direct mail operations.
McClatchy also operates leading local Web sites in each of its
markets which extend its audience reach.  The Web sites offer
users comprehensive news and information, advertising, e-commerce
and other services.  Together with its newspapers and direct
marketing products, these interactive operations make McClatchy
the leading local media company in each of its premium high growth
markets.  McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

The Company reported net income of $18.80 million for the year
ended Dec. 29, 2013, as compared with a net loss of $144,000 for
the year ended Dec. 30, 2012.  The Company's balance sheet at
Sept. 28, 2014, the Company had $2.63 billion in total assets,
$2.31 billion in total liabilities and $318.07 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

McClatchy Co. carries a 'B-' Corporate Credit Rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.


METALICO INC: Reports $6.9 Million Net Loss for Third Quarter
-------------------------------------------------------------
Metalico, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company of $6.90 million on $128.58 million of
revenue for the three months ended Sept. 30, 2014, compared to a
net loss of $27.65 million on $117.74 million of revenue for the
same period a year ago.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss attributable to the Company of $10.52 million on
$372.99 million of revenue compared to a net loss attributable to
the Company of $31.56 million on $348.26 million of revenue for
the same period in 2013.

As of Sept. 30, 2014, the Company had $294.46 million in total
assets, $156.95 million in total liabilities and $137.51 million
in total equity.

Carlos E. Aguero, Metalico's president and chief executive
officer, said, "Metalico delivered a solid operating performance
in the third quarter of 2014.  In particular, the Company
benefitted from significantly increased non-ferrous shipment
levels and continued strong control over metal purchases and
overall expenses."

He continued, "Including the Lead Fabricating segment, for the
first nine months of 2014 Metalico generated adjusted EBITDA of
$17.4 million compared with $14.8 million in the prior year
period.  Additionally, third quarter operating income, inclusive
of the Lead Fabricating segment, increased 78% to $3.2 million
from $1.8 million in the prior year quarter."

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

                        http://is.gd/4Wb7rp

                           About Metalico

Metalico, Inc. is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $34.81
million in 2013 following a net loss attributable to the Company
of $13.11 million in 2012.  Metalico incurred a net loss
attributable to the Company of $3.61 million for the six months
ended June 30, 2014.


MGM RESORTS: S&P Assigns 'B+' Rating on $1BB Sr. Unsecured Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B+'
issue-level rating and '4' recovery rating to Las Vegas-based MGM
Resorts International's proposed $1 billion senior unsecured notes
due 2023.  The '4' recovery rating indicates S&P's expectation for
average recovery (30%-50%) for lenders in the event of a payment
default.

MGM plans to use the note proceeds for general corporate purposes,
including repaying debt maturing in 2015 and funding a portion of
the capital spending related to its Massachusetts and Maryland
resort projects.

S&P's other ratings on MGM, including the 'B+' corporate credit
rating, remain unchanged.  The rating outlook is stable.

S&P's corporate credit rating on MGM reflects a consolidated view
of the company, including MGM China.  S&P considers MGM China to
be a "core" entity because S&P believes it is integral to MGM's
identity and future strategy, and it is unlikely to be sold.  MGM
China operates in the same line of business as MGM, shares a
common brand, and represents a growth vehicle for further
international developments, a key focus of the company.  S&P
believes MGM China is closely linked to MGM's reputation and
brand.  Additionally, MGM maintains a controlling ownership
position and consolidates MGM China within its financial
statements. MGM China also represents more than 33% of MGM's
consolidated property-level EBITDA in the 12 months ended
Sept. 30, 2014, which S&P believes is meaningful.  Furthermore,
MGM has the ability to extract meaningful cash flows from MGM
China through its dividend policy.

The rating outlook is stable.  "We believe that MGM has good
operating prospects in both Las Vegas and Macau, adequate
liquidity to fund development spending, and the ability to bring
leverage below 6x as new resort projects open, even though
leverage will likely remain at around 6x through the end of 2015,"
said Standard & Poor's credit analyst Melissa Long.

S&P is unlikely to consider an upgrade over the next year, given
its expectation that consolidated debt to EBITDA will remain at
around 6x through 2015 and given MGM's pipeline of development
projects.  S&P could consider an upgrade if it expected leverage
to improve to below 5.5x and remain at that level over the long
term, coupled with interest coverage close to 3x and FFO to debt
approaching 12%.  S&P could also consider an upgrade if it revises
its business risk profile assessment upward and believes the
company will maintain strong liquidity.  For example, S&P could
revise its assessment of the business risk profile to
"satisfactory" from "fair" if the company's future development
projects sufficiently increase its diversity and scale and reduce
S&P's expectation for volatility over the economic cycle, which
results from the company's concentration in the Las Vegas gaming
market.

S&P could lower the rating if performance trends in Las Vegas or
Macau fail to meet S&P's expectations as a result of softening
global or market-specific economic conditions in either of those
markets or if increasing competition leads S&P to believe that the
business does not compare favorably with others that have "fair"
business risk profile assessments.  S&P could also consider a
downgrade if the company's pursuit of large development projects
and the financing strategy for those projects result in leverage
increasing meaningfully above S&P's expectations, causing leverage
to spike above 6.5x or EBITDA coverage of interest to fall below
2x.


MISSISSIPPI PHOSPHATES: 4 Parties Reply to DIP Financing Motion
---------------------------------------------------------------
Several parties filed responses to Mississippi Phosphates
Corporation, et al.'s motion, and revised proposed final order, to
obtain postpetition financing and grant security interests and
superpriority administrative expense status, grant priority status
to Prepetition Lenders, authorize the use of cash collateral, and
grant adequate protection.

The responding parties and their responses are:

   -- the United States of America, on behalf of the
      Environmental Protection Agency, asks that the Debtors
      modify those provisions of the Interim Order that
      inappropriately sought to limit the environmental
      obligations of the Debtors under the law or that would
      provide a windfall to the Debtors' secured creditors, at
      the taxpayers' expense, should the Government needs to take
      action necessary to protect the public and the environment
      from harm;

   -- Hydrovac Industrial Services, Inc. is a creditor of the
      Debtors listed on the Debtors' List of 20 Largest Unsecured
      Creditors.  Hydrovac objects to the entry of the Proposed
      Final Order to the extent that the Final Order grants the
      Debtors' Lender a lien, security interest or superpriority
      claim (i) to any avoidance actions of the Debtors or
      proceeds thereof, and (ii) that may affect any setoff or
      recoupment rights of unsecured creditors.

   -- Trammo, Inc., formerly known as Transammonia, Inc.,
      contends that certain provisions of the Debtors' proposed
      Final Order should be modified or deleted because they are
      neither necessary nor appropriate, do not provide for
      adequate notice to key or all parties-in-interest, and are
      premature at this stage of the case; and

   -- the Mississippi Department of Environmental Quality, on
      behalf of the Mississippi Commission on Environmental
      Quality, believes that the budgeted costs for chemicals
      used to operate the Wastewater Treatment plant of the
      Proposed Final Order are inadequate to supply chemicals
      sufficient to run the plant at close to capacity or to
      treat wastewaters from areas of the facility other than
      Pond 6 (which has a lower concentration of hazardous
      constituents than other waters at the facility).  MDEQ
      requests the Debtor address costs for chemicals in its
      budget.

The EPA is represented by:

          Kenneth G. Long, Esq.
          ENVIRONMENTAL ENFORCEMENT SECTION
          ENVIRONMENT AND NATURAL RESOURCES DIVISION
          U.S. DEPARTMENT OF JUSTICE
          P.O. Box 7611
          Washington, DC 20044-7611
          Telephone: (202) 514-2840
          Facsimile: (202) 616-6584
          E-mail: kenneth.long@usdoj.gov

Creditor Hydrovac Industrial Services, Inc. is represented by:

          James A. McCullough II, Esq.
          BRUNINI, GRANTHAM, GROWER & HEWES, PLLC
          The Pinnacle Building
          190 East Capitol Street, Suite 100
          Jackson, MS 39201
          Telephone: (601) 948-3101
          Telecopier: (601) 960-6902
          E-mail: jmccullough@brunini.com

Trammo, Inc., is represented by:

          James W. O'Mara, Esq.
          Jerome C. Hafter, Esq.
          Richard Montague, Esq.
          PHELPS DUNBAR LLP
          4270 I-55 North
          Jackson, MS 39211
          Telephone: (601) 352-2300
          Facsimile: (601) 360-9777
          E-mail: jim.omara@phelps.com
                  jerome.hafter@phelps.com
                  richard.montague@phelps.com

The Mississippi Department of Environmental Quality is represented
by:

          Roy Furrh, Esq.
          Theodore Lampton, Esq.
          Christopher Wells, Esq.
          MISSISSIPPI DEPARTMENT OF ENVIRONMENTAL QUALITY
          LEGAL DIVISION
          P.O. Box 2261
          Jackson, MS 39225-2261
          Telephone: (601) 961-5573
          Facsimile: (601) 961-5349
          E-mail: tlampton@mdeq.ms.gov
                  rfurrh@mdeq.ms.gov
                  cwells@mdeq.ms.gov

                  About Mississippi Phosphates

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.

The U.S. Trustee for Region 5 has appointed seven creditors to
serve in the official unsecured creditors committee in the
Debtors' cases.

                             *   *   *

The meeting of creditors pursuant to Sec. 341(a) in the Debtors'
cases is currently scheduled for Dec. 17, 2014, at 10:30 a.m., in
Gulfport, Mississippi.


MISSISSIPPI PHOSPHATES: Seeks OK of Procedures to Sell Assets
-------------------------------------------------------------
Mississippi Phosphates Corporation, et al., ask the U.S.
Bankruptcy Court for the Southern District of Mississippi to
approve sales and bidding procedures in connection with the sale
of all or substantially all of their assets, and to schedule an
auction and sale hearing.  The Debtors seek approval of the
purchase agreement, and seek an order authorizing the sale free
and clear of all liens, claims, encumbrances.

In connection with the sale, the Debtors also seek approval of
procedures governing assumption and assignment of certain
executory contracts and unexpired leases.

The Debtors further ask the Court to:

   -- schedule an auction to sell the Sellers Assets on or before
      March 6, 2015;

   -- schedule the final hearing to approve a sale of the Sellers
      Assets on or before March 13, 2015;

   -- approve the form and manner of notice of the proposed sale
      transactions, the Sales and Bidding Procedures, the
      Auction, and the Sale Hearing;

   -- enter the Sales and Bidding Procedures Order no later than
      December 11, 2014;

   -- set a Bid Deadline for February 27, 2015, at 5:00 p.m.
      (prevailing Central Time);

The Debtors will determine which competing bids are Qualified Bids
within two business days of a bid's submission, but not later than
March 3, 2015, at 11:59 p.m. (prevailing Central Time).  The
Debtors will provide to each Qualified Bidder notice of the terms
of the highest or otherwise best Qualified Bid or Qualified Bids
received not later than March 3, 2015, at 11:59 p.m. (prevailing
Central Time).

In the event that there is more than one Qualified Bidder, the
Debtors will conduct an auction beginning on March 6, 2015, at
9:30 a.m.

The Final Hearing to approve the sale of the Sellers Assets to the
Prevailing Purchaser is scheduled, subject to the Court's
availability, on March 13, 2015.  The Sale of Sellers Assets is to
be closed and consummated on or before (x) March 31, 2015, if a
waiver of the stay is obtained, or (y) on or before April 10,
2015, if the waiver is not obtained.

                  About Mississippi Phosphates

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.

The U.S. Trustee for Region 5 has appointed seven creditors to
serve in the official unsecured creditors committee in the
Debtors' cases.

                             *   *   *

The meeting of creditors pursuant to Sec. 341(a) in the Debtors'
cases is currently scheduled for Dec. 17, 2014, at 10:30 a.m., in
Gulfport, Mississippi.


MOLYCORP INC: Signs Exchange Agreement With Noteholder
------------------------------------------------------
Molycorp, Inc., on Nov. 20, 2014, entered into an exchange
agreement with a holder of the Company's 6.00% convertible senior
notes due 2017 and 5.50% convertible senior notes due 2018
pursuant to which that holder agreed to exchange $27 million in
aggregate principal amount of the 2017 Notes and $11 million in
aggregate principal amount of the 2018 Notes for up to a maximum
of 15,056,603 shares, but not less than 11,239,436 shares, of the
Company's common stock, par value $0.001 per share.  The Company
will also pay the holder accrued but unpaid interest through the
date of completion of the exchange in cash.  The aggregate amount
of shares of Common Stock to be issued in the exchange will have
an agreed-upon value of $15,960,000.  The actual number of shares
of Common Stock to be issued in the exchange is based on a seven-
day volume-weighted average price per share of the Common Stock
for the period ending Dec. 2, 2014, subject to an agreed per share
floor and cap price.

                           About Molycorp

Molycorp -- http://www.molycorp.com-- produces a wide variety of
specialized products from 13 different rare earths (lights, mids
and heavies), the transition metal yttrium, and five rare metals
(gallium, indium, rhenium, tantalum and niobium).  With 26
locations across 11 countries, Molycorp also produces rare earth
magnetic materials through its Molycorp Magnequench subsidiary,
including neodymium-iron-boron ("NdFeB") magnet powders, used to
manufacture bonded NdFeB permanent rare earth magnets.  Through
its joint venture with Daido Steel and the Mitsubishi Corporation,
Molycorp manufactures next-generation, sintered NdFeB permanent
rare earth magnets.  The Company also markets and sells a line of
rare earth-based water treatment products.

The Company's balance sheet at Sept. 30, 2014, showed $2.96
billion in total assets, $1.83 billion in total liabilities and
$1.12 billion in total stockholders' equity.

                            *   *    *

As reported by the TCR on June 23, 2014, Moody's Investors Service
downgraded the corporate family rating (CFR) of Molycorp, Inc. to
Caa2 from Caa1.  The downgrade reflects continued weakness in rare
earths pricing environment, ongoing negative free cash flows, weak
liquidity and high leverage.

In July, 2014, Standard & Poor's Rating Services lowered its
corporate credit rating on Greenwood Village, Colo.-based Molycorp
Inc. to 'CCC' from 'CCC+.  The downgrade reflects S&P's view of
the company's deteriorating liquidity position.


MONARCH COMMUNITY: Posts $22,000 Net Income in Third Quarter
------------------------------------------------------------
Monarch Community Bancorp, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net income available to common stock of $22,000 on
$1.89 million of total interest income for the three months ended
Sept. 30, 2014, compared to a net loss available to common stock
of $754,000 on $1.83 million of total interest income for the same
period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported net
income available to common stock of $87,000 on $5.64 million of
total interest income compared to a net loss available to common
stock of $2.11 million on $5.62 million of total interest income
for the same period during the prior year.

As of Sept. 30, 2014, the Company had $176.88 million in total
assets, $156.89 million in total liabilities and $19.98 million in
total stockholders' equity.

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

                        http://is.gd/ppHYHd

                      About Monarch Community

Coldwater, Michigan-based Monarch Community Bancorp, Inc., was
incorporated in March 2002 under Maryland law to hold all of the
common stock of Monarch Community Bank, formerly known as Branch
County Federal Savings and Loan Association.  The Bank converted
to a stock savings institution effective Aug. 29, 2002.  In
connection with the conversion, the Company sold 2,314,375 shares
of its common stock in a subscription offering.

Monarch Community reported a net loss available to common
stockholders of $2.55 million in 2013, a net loss available to
common stockholders of $741,000 in 2012 and a net loss of $353,000
in 2011.


MORTGAGE GUARANTY: S&P Hikes LT Counterparty Credit Rating to BB+
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
financial strength and long-term counterparty credit ratings on
Mortgage Guaranty Insurance Corp. (MGIC) and MGIC Indemnity Co.
(MIC) to 'BB+' from 'BB'.  At the same time, S&P raised its
unsolicited senior unsecured debt issue and counterparty credit
rating on MGIC Investment Corp. to 'B+', and S&P's junior
subordinated debt rating on MGIC Investment to 'B-'.  The outlook
is stable.

"The upgrade is based on our view that MGIC will continue to
benefit from improving earnings and sustain its competitive
profile versus peers with higher profitability based on its
insurance premium offering," said Standard & Poor's credit analyst
Marc Cohen.  S&P's positive view of MGIC's capital adequacy based
on its analysis of its performing portfolio characteristics and
its reinsurance coverage also supports the rating actions.

The current rating reflects S&P's positive view of MGIC's
prospective operating earnings based on fewer new notices of
delinquency, a lower delinquency inventory, and the significant
decline in its overall delinquency-to-claim performance ratio to
less than 15% (i.e., higher cure rates on new and previous
delinquencies).  The improved insured mortgage portfolio and cure
performance characteristics have helped sustained generally
accepted accounting principles (GAAP) net earnings generation in
each fiscal quarter since second-quarter 2013.  S&P's current
estimation of MGIC's future operating performance is focused on an
expected decline in incurred losses in 2014 and 2015 with
relatively stable new insurance written (NIW) and premium yield
profiles.  Macro growth in the private mortgage insurance market
and MGIC's ability to maintain market share despite the entrance
of new players would suggest higher operating income and internal
capital generation capabilities.

The stable outlook reflects the potential growth in NIW and its
sustained market share position, continued improving operating
performance, and improving capital adequacy based on retained
earnings and legacy insured amortization.

S&P could upgrade MGIC based on continued non-volatile positive
earnings, an increase to its capital position based on retained
earnings and other external capital-accretive initiatives, and
progress toward a more conservative level of leverage.

S&P could downgrade MGIC if it is unable to address its Private
Mortgage Insurer Eligibility Requirements capital constraints; its
operating performance significantly diverges from the trend toward
stronger earnings that would support the rebuilding of capital; or
the company experiences material reserve strengthening.  S&P views
this possibility as remote.


N-VIRO INTERNATIONAL: Delays Form 10-Q for Third Quarter
--------------------------------------------------------
N-Viro International Corporation filed with the U.S. Securities
and Exchange Commission a Notification of Late Filing on Form
12b-25 with respect to its quarterly report on Form 10-Q for the
quarter ended Sept. 30, 2014.  The Company said it was unable to
complete the preparation of the financial statement within the
required time period without unreasonable effort or expense, due
to delays in gathering and the review of financial information
needed to complete the preparation and inclusion of the required
financial statement.

                     About N-Viro International

Toledo, Ohio-based N-Viro International Corporation owns and
sometimes licenses various N-Viro processes and patented
technologies to treat and recycle wastewater and other bio-organic
wastes, utilizing certain alkaline and mineral by-products
produced by the cement, lime, electrical generation and other
industries.

N-Viro International reported a net loss of $1.64 million on $3.37
million of revenues for the year ended Dec. 31, 2013, as compared
with a net loss of $1.63 million on $3.58 million of revenues
during the prior year.

The Company's balance sheet at June 30, 2014, showed $1.68 million
in total assets, $2.66 million in total liabilities and a $983,587
total stockholders' deficit.

UHY LLP, in Farmington Hills, Michigan, 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, negative cash flow from operations
and net working capital deficiency raise substantial doubt about
its ability to continue as a going concern.


NAARTJIE CUSTOM: Court Approves Bidding Procedures and Auction
--------------------------------------------------------------
Judge William T. Thurman of the U.S. Bankruptcy Court for the
District of Utah granted Naartjie Custom Kids, Inc.'s motion for
entry of an order authorizing and approving bidding procedures and
related auction, authorizing the Debtor to provide bid protections
to a stalking horse bidder, and scheduling a sale hearing and
approving notice.

The Court scheduled a hearing for November 25, 2014, at 2:00 p.m.,
to approve the sale of the Assets and approving notice thereof.
Objections, if any, to the Sale must be filed by November 24.

All objections to the Motion with respect to the Bidding
Procedures that have not been withdrawn, waived or settled as
announced at the Bidding Procedures Hearing, are resolved as
provided in the Order.

The Court authorized the Debtor to negotiate and enter into an
agreement for Bid Protections and a Stalking Horse Agreement with
a Stalking Horse, after consultation with the Official Committee
of Unsecured Creditors, which may include expense reimbursement
and a break-up fee in a total amount up to 5.0% of the total
purchase price for the Assets.

The Debtor is authorized to conduct the Auction with respect to
all or some of the Assets, including the Intellectual Property,
the Debtor's stock in ZA One, any claims against ZA One, or other
alternative sale structure for the Debtor's interests in ZA One,
including the exercise of its shareholder rights in ZA One to
facilitate the sale of ZA One's assets and liabilities).

The Auction, if any, would be conducted on November 24, 2014, at
10:00 a.m. (prevailing Mountain Time), or at other place and time
or later date as determined by the Debtor.

                   About Naartjie Custom Kids

Naartjie Custom Kids, Inc., which designs, manufactures and sells
children's clothing, accessories and footwear for ages newborn
through 10 years old, sought protection under Chapter 11 of the
Bankruptcy Code on Sept. 12, 2014 (Bankr. D. Utah Case No. 14-
29666).  The case is assigned to Judge William T. Thurman.

The Debtor's counsel is Annette W. Jarvis, Esq., Jeffrey M.
Armington, Esq., Benjamin J. Kotter, Esq., and Michael F. Thomson,
Esq., at Dorsey & Whitney LLP, in Salt Lake City, Utah.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP as its counsel.  Ray Quinney &
Nebeker P.C. serves as local counsel.  FTI Consulting, Inc. serves
as its financial advisor.


NAARTJIE CUSTOM: Bonnie Glantz Named as Consumer Privacy Ombudsman
------------------------------------------------------------------
Bankruptcy Judge William T. Thurman for the District of Utah
approved the motion filed by U.S. Trustee Patrick S. Layng to
establish Bonnie Glantz Fatell as consumer privacy ombudsman in
the bankruptcy case of Naartjie Custom Kids, Inc.

Bonnie Glantz Fatell has executed an Acceptance of Appointment and
Verified Statement.

U.S. Trustee Patrick S. Layng is represented by John T. Morgan,
Esq. -- John.T.Morgan@usdoj.gov -- and Peter J. Kuhn, Esq. --
Peter.J.Kuhn@usdoj.gov -- of the U.S. Department of Justice in
Salt Lake City, Utah.

                     About Naartjie Custom Kids

Naartjie Custom Kids, Inc., which designs, manufactures and sells
children's clothing, accessories and footwear for ages newborn
through 10 years old, sought protection under Chapter 11 of the
Bankruptcy Code on Sept. 12, 2014 (Bankr. D. Utah Case No. 14-
29666).  The case is assigned to Judge William T. Thurman.

The Debtor's counsel is Annette W. Jarvis, Esq., Jeffrey M.
Armington, Esq., Benjamin J. Kotter, Esq., and Michael F. Thomson,
Esq., at Dorsey & Whitney LLP, in Salt Lake City, Utah.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP as its counsel.  Ray Quinney &
Nebeker P.C. serves as local counsel.  FTI Consulting, Inc. serves
as its financial advisor.


NAKED BRAND: Introduces New Visual Brand Identity
-------------------------------------------------
Naked Brand Group, Inc., introduced the Company's new visual brand
identity as part of its launch of a new corporate Web site
www.nakedbrands.com.  Naked's new logo and brand identity will
serve as the basis of a completely new branding, packaging,
marketing, advertising and social media campaign to be launched
during the first quarter of 2015 along with expanded men's
collections, announced Carole Hochman, CEO and Chief Creative
Officer, who joined the executive leadership team in June 2014.

"Our exciting new brand visual identity marks a key next step in
our overall strategy to build Naked into the global lifestyle
brand we envision for men and women," says Carole Hochman.  "We
are delighted to share a glimpse of what our team has been so hard
at work on and can't wait to unveil more in the months ahead."

A presentation of Naked's new logo and brand visual identity are
available for viewing at www.nakedbrands.com/brand.  "Our new logo
captures the essence of Naked's brand mission," said Joel Primus,
founder and president of Naked.  "We want to empower people in
their daily lives by giving them vital apparel that perfectly
blends form and function to help them feel, look and perform at
their best.  Our new branding will help us deliver this message to
existing and new customers alike."

The design and development of Naked's new logo and brand identity
was spearheaded by Case Study Brands in Greenwich, CT.  Case Study
Brands, http://casestudybrands.com,led by co-founders Sara Allard
and Nicole Enslein, was retained as Agency of Record during the
Summer of 2014 and is responsible for driving the overall strategy
for Naked's branding and marketing campaign.  Case Study Brands is
a full service marketing, communications, and design company
dedicated to identifying the key insights that authentically
connect brands with their target.  The campaign, which will take
effect early in 2015, will communicate Naked's new voice and
visual identity through messaging and will include new product
packaging, an entirely redesigned online store
(www.thenakedshop.com), as well as innovative and targeted
marketing, advertising, social media, and public relations
initiatives.

"The inspiration behind Naked's new branding is to mirror the
incredible design and experience of wearing Naked.  The logo had
to embrace the same elegance of the product where form meets
function seamlessly," says Sara Allard Co-Founder of Case Study
Brands.

"Our extensive research offered tremendous insight into Naked's
loyal customer base and helped inform the strategic direction.  As
we move forward we will create marketing and advertising for
Naked, which will help build awareness and achieve rapid growth,"
says Nicole Enslein co-founder of Case Study Brands.

Working closely with Case Study Brands on Naked's campaign is
Naked's newly engaged public relations firm, The Bromley Group.
Recently retained by Naked as agency of record for public
relations, social media and events, The Bromley Group is comprised
of PR and brand-building specialists, with more than 25 years of
experience in the intimate apparel and accessory sectors.  The
award-winning agency has partnered with some of the fashion
world's most recognizable brands to strategize and implement
programs that transitioned them into household status.

"The Bromley Group is thrilled to be a part of this exciting
brand, which is backed by a roster of proven players within the
industry.  Carole Hochman is already a star in women's sleepwear
and intimates and is clearly bringing her talent, credibility and
trusted reputation into action to make Naked a big success," said
Karen Bromley, principal of The Bromley Group.  "The men's
underwear category is one of the fastest growing sectors in the
fashion market and we couldn't be more excited to get started with
the Naked team to create a highly engaging and interactive
experience for the members of the trade, financial community, and
most importantly, Naked's target consumers."

                         About Naked Brand

Naked Brand Group Inc. designs, manufactures, and sells men's
innerwear and lounge apparel products in the United States and
Canada.  It offers various innerwear products, including trunks,
briefs, boxer briefs, undershirts, T-shirts, and lounge pants
under the Naked brand, as well as under the NKD sub-brand for men.
The company sells its products to consumers and retailers through
wholesale relationships and direct-to-consumer channel, which
consists of an online e-commerce store, thenakedshop.com.  Naked
Brand Group Inc. is based in New York, New York.

The Company's balance sheet at July 31, 2014, showed $4.98 million
in total assets, $35.18 million in total liabilities and a
stockholders' deficit of $30.2 million.

As at July 31, 2014, the Company had not yet achieved profitable
operations and expects to incur significant further losses in the
development of its business, which casts substantial doubt about
the Company's ability to continue as a going concern, the Company
stated in the quarterly report for the period ended July 31, 2014.


NEW LOUISIANA: Committee Wants Reconsideration of Financing Order
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of New Louisiana Holdings, LLC, et al., asked the Bankruptcy
Court to reconsider the final order authorizing and approving (a)
debtor-in-possession financing; and (b) the use of cash
collateral.

The Committee is seeking modification to the order to protect the
interests of creditors and to prevent potential overreaching by
the Debtors' insiders who also own and control the DIP lender.

The Committee explained that it is unclear whether an
investigation was conducted by any independent party-in-interest
with respect to the relief requested in the financing orders.

As reported in the Troubled Company Reporter on Oct. 23, 2014,
the Hon. Robert Summerhays issued a final order authorizing
CHC-CLP Operator Holding, LLC, CHC-SPC Operator, Inc., SA-
Lakeland, LLC, SA-Clewiston, LLC and SA-St. Petersburg, LLC --
collectively, the "Palm Terrace" Debtors -- to obtain senior
secured, postpetition financing from SA Mezz Holdings LLC.

Judge Summerhays also authorized the "Palm Terrace" Debtors to
use cash collateral securing their indebtedness owing to pre-
bankruptcy lender Pacific Western Bank from Oct. 6, 2014, to Nov.
28, 2014, pursuant to the budget.

The "Palm Terrace" Debtors told the Court that they will use the
proceeds of advances, subject to a cash collateral budget, solely
to pay:

a) payroll and related expenses approved by lender in its
    reasonable discretion and by the Bankruptcy Court;

b) deposits to utilities approved by lender in its reasonable
    discretion and by the Bankruptcy Court

c) critical vendors approved by lender in its reasonable
    discretion and by the Bankruptcy Court;

d) working capital reasonable and necessary for operation of the
    "Palm Terrace" Debtors' business and preservation and
    enhancement of the Collateral and meeting the "Palm Terrace"
    Debtors' obligations and responsibilities under Bankruptcy
    Court orders and contracts;

e) amounts necessary to cure executory contracts assumed with the
    written consent of lender;

f) with respect to final borrowing advances only, payment of the
    PacWest loan;

g) the Carve-Out;

h) principal, interest and fees on the DIP facility;

i) payment of Bankruptcy fees; and

j) subject to the limitations set forth in the agreement and the
    DIP facility Orders, expenses of the administration of the
    Chapter 11 Cases -- including the payment of professional fees
    and costs, and United States Trustee fees.

Under the agreement, the "Palm Terrace" Debtors unconditionally
promised to pay the lender the DIP obligations, including the
outstanding principal amount of all advances, accrued and
unpaid interest and fees thereon, costs and expenses, and
bankruptcy fees as and when due.  The lender will make advances
to borrowers up to:

   i) upon entry of the interim order:

      a) in the aggregate amount not to exceed $600,000;

      b) the additional amount as may be agreed to by the lender
         in writing; or

      c) the other sum as is approved by the Bankruptcy Court on
         an interim basis with the written consent of the lender;
         and

  ii) upon entry of the final order:

      a) in the aggregate amount not to exceed $2,400,000;

      b) such additional amount as may be agreed to by the lender
         in writing; or

      c) such other sum as is approved by the Bankruptcy Court
         with the written consent of the lender on a final basis.

The agreement stated that the DIP facility is not a revolving
loan, and any advances made by lender will reduce the remaining
amount available for interim borrowing advances and final
borrowing advances, as applicable, by the amount of such
advances.

As reported in the Troubled Company Reporter on Sept. 25, 2014,
the final advances will be used to:

  a) supplement the Debtor's use of cash collateral and solely be
     used to pay payroll and related expenses, make critical
     vendor payments, fund working capital requirements and fund
     deposits to utilities; and

  b) pay in full all obligations due to Pacific Western Bank on
     account of any prepetition loans and other extension of
     credit under the certain revolving credit and security
     agreement as of Nov. 25, 2008 between the borrowers and
     Pacific Western, successor by merger to Capital Source Bank:

     i) in the aggregate amount not to exceed $2,400,000;

    ii) additional amount may be agreed to by the lender in
        writing; or

   iii) other sum as approved by the Court on an interim
        basis with the written consent of the lender.

Pursuant to a prepetition credit agreement, PacWest agreed to
provide the Debtors with a revolving credit facility in a maximum
principal amount at any time outstanding of up to $3,000,000.

According to the TCR, as of the bankruptcy filing date, the
Debtors were indebted to Pacific Western in the approximate
aggregate principal amount of $2,028,985.

Interest on the DIP facility will be payable in cash at the end of
each month in arrears at 4.5% per annum.  During the continuance
of an even of default, the interest rates applicable to all
advances under the DIP facility will be increased by 2% per annum,
but such increased rate will not be considered compensation for or
prevent the exercise by lender of any remedies.

The lender's liens on the collateral and the lender's
administrative claims provided for herein shall be subject to a
carve-out in an amount not to exceed:

   i) fees and any fees payable to the clerk of the Bankruptcy
      Court that are due upon the occurrence of an event of
      default;

  ii) fees and expenses due to professionals employed by the
      "Palm Terrace" Debtors, for services rendered as Borrowers
      and Chapter 11 debtors in possession that are due upon the
      occurrence of an event of default in an amount not to exceed
      $100,000; and

iii) fees and expenses to professionals employed by the Committee
      for services rendered while the "Palm Terrace" Debtors, are
      Chapter 11 debtors in possession that are due upon the
      occurrence of an event of default in an amount not to exceed
      $25,000.

The Debtors said the lender will receive a fully perfected
security interest in all prepetition and postpetition assets of
all the Debtors.

A full-text copy of the DIP loan and security agreement is
available for free at http://is.gd/TuL4l8

A full-text copy of the cash collateral budget is available for
free at http://is.gd/mdHxx1

                   About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on
June 25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853),
Lakewood Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854),
Lakewood Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855),
Panola 501 Partners, LP (Case No. 14-50862), Regency 14333 Tenant,
LLC (Case No. 14-50861), Retirement Center 14686 Tenant, LLC (Case
No. 14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No. 14-
50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No. 14-
50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No. 14-
50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-
51101), SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC
(Case No. 14-51103) -- that operate skilled nursing facilities
located in Lakeland, Clewiston and St. Peterburg, Florida, sought
protection under Chapter 11 of the Bankruptcy Code on Sept. 3,
2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert
Summerhays of the United States Bankruptcy Court for the Western
District of Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.

The U.S. Trustee for Region 5 on Oct. 3 appointed three creditors
of New Louisiana Holdings, LLC to serve on the official committee
of unsecured creditors.


NEW LOUISIANA: Wants Neligan Foley as Counsel for New Debtors
-------------------------------------------------------------
New Louisiana Holdings, LLC, et al., in a second amended motion,
ask the Bankruptcy Court for permission to employ Neligan Foley
LLP as counsel for the New Debtors, namely:

   1. Cypress Health Care Management, LLC, Cypress Health Care
Holdings, LLC (Cypress Debtors);

   2. SA-St. Petersburg, LLC, SA-Clewiston, LLC, SA-Lakeland, LLC,
CHC-CLP Operator Holdings, LLC, and CHC-SPC Operator, Inc. (Palm
Terrace Debtors); and

   3. SA-GA Operator Holdings, LLC, CHC-Carrollton Nursing & Rehab
Ctr., LLC, CHC-Cedar Ridge Nursing & Rehab Ctr, LLC, CHC-Chestnut
Ridge Nursing & Ctr, LLC, CHC-Haralson Nursing & Rehab Ctr, LLC,
CHC-Hart Care Ctr, LLC, CHC-Pine Knoll Nursing & Rehab Ctr, LLC,
CHC-Roswell Nursing & Rehab Ctr, LLC, and CHC-Woodstock Nursing &
Rehab Ctr, LLC (collectively the Georgia Debtors).

According to the Debtors, Neligan received these retainers:

   i) Prior to the Louisiana Debtors' Petition Dates, the
Louisiana Debtors paid Neligan Foley an aggregate retainer of
$260,000.  As of the Louisiana Debtors' Petition Dates, Neligan
Foley is holding a retainer of $120,000 in connection with the
Louisiana Debtors.

  ii) On July 28, 2014, Palm Garden Debtors paid Neligan a
retainer of $100,000.  The firm continues to hold $50,000 retainer
after application of prepetition fees.

iii) On Aug. 26, Cypress Health Care management, LLC and Cypress
Health Care Holding, LLC paid Neligan a retainer of $15,000.  The
firm continues to hold $7,5000 retainer after application of
prepetition fees.

  iv) On Sept. 3, SA-St. Petersburg, LLC. et al., paid Neligan a
retainer of $350,000.  The firm continues to hold $250,000
retainer after application of prepetition fees.

   v) On Oct. 14, the Georgia Debtors paid Neligan $100,000
retainer.   The firm continues to hold $40,000 retainer after
application of prepetition fees.

The hourly rates of Neligan's personnel are:

         Partners                  $395 - $975
         Paralegal and Associates  $130 - $350

To the best of the Debtors' knowledge, Neligan is a "disinterested
person" as that term is defined in section 101(14) of the
Bankruptcy Code.

On Oct. 22, Bankruptcy Judge Robert Summerhays entered a final
order authorizing the employment of Patrick J. Neligan, Jr. and
the Law Firm of Neligan, Foley, LLP as counsel.

                   About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on
June 25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853),
Lakewood Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854),
Lakewood Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855),
Panola 501 Partners, LP (Case No. 14-50862), Regency 14333 Tenant,
LLC (Case No. 14-50861), Retirement Center 14686 Tenant, LLC (Case
No. 14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No. 14-
50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No. 14-
50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No. 14-
50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-
51101), SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC
(Case No. 14-51103) -- that operate skilled nursing facilities
located in Lakeland, Clewiston and St. Peterburg, Florida, sought
protection under Chapter 11 of the Bankruptcy Code on Sept. 3,
2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert
Summerhays of the United States Bankruptcy Court for the Western
District of Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.

The U.S. Trustee for Region 5 on Oct. 3 appointed three creditors
of New Louisiana Holdings, LLC to serve on the official committee
of unsecured creditors.


NII HOLDINGS: Hires Togut Firm as Conflicts Counsel
---------------------------------------------------
NII Holdings, Inc. and its debtor-affiliates seek authorization
from the Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for
the Southern District of New York to employ Togut, Segal & Segal
LLP as conflicts counsel for NII Holdings, Inc. -- Parent Debtor
-- nunc pro tunc to Oct. 23, 2014.

Subject to the Court's approval of the engagement, the Togut Firm
will have responsibility for rendering professional services to
the Parent Debtor delegated to them by the Parent Debtor where
Jones Day has an actual or potential conflict, including:

   (a) addressing matters with regard to one or more executory
       contracts with Qualcomm, Inc.;

   (b) addressing such other matters with regard to other Conflict
       Matters as may be assigned to the Togut Firm by the Parent
       Debtor and to perform such other discrete duties as
       assigned by Jones Day to the Togut Firm; and

   (c) performing all necessary legal services relating to the
       foregoing, including (i) preparing motions, applications,
       answers, orders, appeals, reports and papers; (ii)
       attending meetings and negotiating with representatives of
       creditors and other parties in interest; (iii) advising the
       Parent Debtor; and (iv) appearing before the Court, any
       appellate courts and the U.S. Trustee, and protecting the
       interests of the Parent Debtor's estate before those Courts
       and the U.S. Trustee.

Togut Firm will be paid at these hourly rates:

       Albert Togut, Esq.          $935
       Jeffrey R. Gleit, Esq.      $705
       Counsel                     $585-$645
       Associates                  $205-$585
       Paraprofessionals/
         Law Clerks                $145-$295

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

Jeffrey R. Gleit, member of Togut Firm, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

As required by the Guidelines for Reviewing Applications for
Compensation and Reimbursement of Expenses Filed Under 11 U.S.C.
Sec. 330 by Attorneys in Larger Chapter 11 Cases, effective
November 1, 2013, the Togut Firm attested that:

   (a) The Togut Firm did not represent the Parent Debtor prior to
       the commencement of these Chapter 11 Cases; and

   (b) The Parent Debtor and the Togut Firm recognize that in the
       course of large chapter 11 cases such as these, it is
       possible that there may be a number of conflict matters
       that will need to be addressed by the Parent Debtor and the
       Togut Firm.  As these Chapter 11 Cases continue to develop,
       the Parent Debtor and the Togut Firm will work together to
       develop a budget and staffing plan as needed. In
       particular, the Parent Debtor and the Togut Firm will
       develop a budget and staffing plan for the matter presently
       identified involving Qualcomm, Inc., and if any other
       conflict or "efficiency" counsel matters arise, the Parent
       Debtor and the Togut Firm will develop a budget and
       staffing plan for such matters.

Togut Firm can be reached at:

       Jeffrey Gleit, Esq.
       TOGUT, SEGAL & SEGAL LLP
       One Penn Plaza, Suite 3335
       New York, NY 10119
       Tel: (212) 594-5000
       Fax: (212) 967-4258
       E-mail: jgleit@teamtogut.com

                         About NII Holdings

NII Holdings Inc. through its subsidiaries provides wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina.  NII Holdings has the exclusive right to use
the Nextel brand in its markets pursuant to a trademark license
agreement with Sprint Corporation and offers unique push-to-talk
("PTT") services associated with the Nextel brand in Latin
America.  NII Holdings' shares of common stock, par value $0.001,
are publicly traded under the symbol NIHD on the NASDAQ Global
Select Market.

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.

The U.S. Trustee for Region 2 on Sept. 29 appointed five creditors
of NII Holdings to serve on the official committee of unsecured
creditors.  Kramer Levin Naftalis & Frankel LLP serves as lead
counsel to the Creditors Committee, while FTI Consulting, Inc.,
acts its financial advisor.


NII HOLDINGS: Court Fixes Dec. 23 as Claims Filing Deadline
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has established Dec. 23, 2014, as the deadline for all persons and
entities holding or asserting a claim against NII Holdings Inc.
and its debtor affiliates to file formal proofs of claim in the
Debtors' cases.   Governmental entities have until April 6, 2015
to file proofs of claim in the Debtors' cases.

                         About NII Holdings

NII Holdings Inc. through its subsidiaries provides wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina.  NII Holdings has the exclusive right to use
the Nextel brand in its markets pursuant to a trademark license
agreement with Sprint Corporation and offers unique push-to-talk
("PTT") services associated with the Nextel brand in Latin
America.  NII Holdings' shares of common stock, par value $0.001,
are publicly traded under the symbol NIHD on the NASDAQ Global
Select Market.

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Chapter 11 cases are assigned to Judge
Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.

The U.S. Trustee for Region 2 initially named five creditors of
NII Holdings to serve on the official committee of unsecured
creditors.  The panel composition was later amended to add 2 more
creditors.  Kramer Levin Naftalis & Frankel LLP serves as lead
counsel to the Creditors Committee, while FTI Consulting, Inc.,
acts its financial advisor.


NII HOLDINGS: Reaches Agreement with Major Stakeholders
-------------------------------------------------------
NII Holdings, Inc. on Nov. 24 disclosed that the Company and
twelve of its wholly-owned subsidiaries, which previously sought
bankruptcy protection, have reached an agreement with their major
stakeholders, including their two largest creditors and the
official committee of unsecured creditors, on the material terms
of a reorganization plan to be implemented in their chapter 11
cases pending in the U.S. Bankruptcy Court for the Southern
District of New York following negotiations between and among the
Company and such stakeholders.

As described in more detail in a restructuring term sheet included
in the Company's current report on Form 8-K filed with the
Securities and Exchange Commission today, the reorganization plan
will:

strengthen the Company's balance sheet by converting $4.35 billion
of the Company's unsecured notes into equity interests in the
reorganized Company;

enhance the reorganized Company's liquidity by providing $500
million of new capital through a fully backstopped $250 million
rights offering of the reorganized Company's stock that will be
made available on a pro rata basis to holders of the Company's
senior notes and an additional $250 million of exit financing in
the form of debt; and

implement a global settlement of all claims related to certain
complex intercompany and inter-creditor disputes.

"After months of hard work, we are pleased to announce an
agreement on the key terms of a reorganization plan that provides
a path for the Company to emerge from bankruptcy in a healthy
financial position to effectively compete in the wireless
marketplace," said Steve Shindler, NII Holdings' chief executive
officer.  "This deal is an important step in the process and
allows us to move forward and present our reorganization plan to
the court for its approval."

The Company and its major stakeholders have also entered into a
restructuring support agreement in which the parties agree to take
actions to implement and support the reorganization plan
contemplated by the restructuring term sheet.

                       About NII Holdings

NII Holdings Inc. through its subsidiaries provides wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina.  NII Holdings has the exclusive right to use
the Nextel brand in its markets pursuant to a trademark license
agreement with Sprint Corporation and offers unique push-to-talk
("PTT") services associated with the Nextel brand in Latin
America.  NII Holdings' shares of common stock, par value $0.001,
are publicly traded under the symbol NIHD on the NASDAQ Global
Select Market.

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors have sought joint administration
of their Chapter 11 cases.

The Chapter 11 cases are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.  The U.S. Trustee for Region 2 on
Sept. 29 appointed five creditors of NII Holdings to serve on the
official committee of unsecured creditors.


NORTHERN BEEF: Settles WARN Action for $180K Cash, $1-MM in Claim
-----------------------------------------------------------------
Northern Beef Packers Limited Partnership, Jorge Alvarado and the
Official Committee of Unsecured Creditors jointly ask the Court
to:

   -- approve their settlement agreement;

   -- certify a class of similarly situated former employees of
      the Debtor, excluding the Opt-Outs;

   -- approve the form and manner of notice to Class Members;

   -- schedule a fairness hearing to consider final approval of
      the Settlement Agreement; and

   -- after the Fairness Hearing, finally approve the Settlement
      Agreement.

Mr. Alvarado, who was laid off in July 2013, filed an adversary
proceeding captioned Jorge Alvarado, individually and on behalf of
all similarly situated former employees v. Northern Beef Packers
Limited Partnership, Adv. Pro. No. 13-01013.  He asserted various
claims under the Worker Adjustment and Retraining Notification Act
and state wage payment laws.  He also asserted that the WARN
Claims were entitled to priority, pursuant to the Bankruptcy Code.

The Settlement Agreement provides for the settlement of the WARN
Claims and contemplates that the WARN Claimants will receive a
settlement payment of $180,000 in cash and an allowed general
unsecured class claim amounting to $1 million in exchange for the
dismissal of the WARN Action.

The Plaintiff is represented by:

          Nichole J. Mohning, Esq.
          CUTLER & DONAHOE, LLP
          100 N. Phillips Ave., 9th Floor
          Sioux Falls, SD 57101-1400
          Telephone: (605) 335-4950
          Facsimile: (605) 335-4961
          E-mail: nicholer@cutlerlawfirm.com

               - and -

          Charles A. Ercole, Esq.
          Sally E. Veghte, Esq.
          KLEHR HARRISON HARVEY BRANZBURG LLP
          1835 Market Street, Suite 1400
          Philadelphia, PA 19103
          Telephone: (215) 569-2700
          Facsimile: (215) 568-6603
          E-mail: cercole@klehr.com
                  sveghte@klehr.com

                   About Northern Beef Packers

Northern Beef Packers Limited Partnership, which operates a beef
processing facility that opened in October 2012, filed for Chapter
11 relief (Bankr. D.S.D. Case No. 13-10118) on July 19, 2013.
Karl Wagner signed the petition as chief financial officer.

Judge Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least $10
million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.  Steven H. Silton, Esq.,
at Cozen O'Connor serves as co-counsel.  Lincoln Partners Advisors
LLC serves as financial advisors.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors in the case.  Robbins, Salomon &
Patt, Ltd. serves as it lead counsel.  Patrick T. Dougherty serves
as its local counsel.


OCEANSIDE MILE: Withdraws Motion to Use Cash Collateral
-------------------------------------------------------
Oceanside Mile LLC filed a notice of withdrawal of its motion for
use of cash collateral.

The Debtor says that as a result of its payment in full of its
secured obligation to First Citizens Bank & Trust Company, its
motion for continued use of cash collateral has been taken off
calendar as moot.

                      About Oceanside Mile

Oceanside Mile LLC owns the Seabonay Resort Hotel, a resort hotel
located in an affluent area of Florida's Hillsboro Beach, which is
perched on the Atlantic Ocean.  The hotel is close to Fort
Lauderdale and its suburbs; three miles south of Boca Raton, and a
mile east of Deerfield Beach.  The hotel has 81 rooms and total
1.29 acres.

Oceanside Mile filed a Chapter 11 petition (Bankr. C.D. Cal. Case
No. 13-35286) on Oct. 17, 2013.  Arturo Rubinstein signed the
petition as managing member.  In its schedules, the Debtor
disclosed $13,148,100 in total assets and $8,367,297 in total
liabilities.  Judge Barry Russell presides over the case.

The Debtor is represented by Sandford L. Frey, Esq., Stuart I.
Koenig, Esq., and Martha C. Wade, Esq., at Creim Macias Koenig &
Frey LLP, in Los Angeles, California.

First-Citizens Bank & Trust Company is represented by Craig H.
Averch, Esq., and Roberto J. Kampfner, Esq., at White & Case LLP,
in Los Angeles, California.


OUTLAW RIDGE: Wants to Enter into Escrow Agreement with Pasco, FL
-----------------------------------------------------------------
Outlaw Ridge, Inc. and Outlaw Ridge, LLC, filed with the U.S.
Bankruptcy Court an unopposed motion for authority to enter into
Limerock Mining Escrow Agreement with Pasco County, Florida.

The Debtor owns and operates a sand and limerock mine situated on
approximately 94.5 acres in Pasco County, Florida.  The Debtor
holds a permit for the mining of sand and limerock at the Lago
Verde Mine issued by the Pasco County Board of County
Commissioners.

Since the execution and approval of the mediation settlement
agreement between the Debtor and Cadence Bank, N.A., the
Debtor has been seeking financing in order to pay off Cadence
Bank.  The Debtor believes that establishing the Escrow Account
will assist the Debtor in its negotiations with potential exit
financing sources because having the Escrow Account in place makes
it possible for the Lago Verde Mine to immediately begin limerock
mining operations once Cadence Bank has been paid off or upon
confirmation of a Chapter 11 that restructures the obligations to
Cadence Bank.

The Debtor will not begin limerock mining at this time but seeks
to fund the Escrow Account to avoid any uncertainty among
potential financing sources regarding the Debtor's ability to
proceed with limerock mining at the Lago Verde Mine under the
terms of the Permit.

In furtherance thereof, the Debtor, Pasco County, and Shelly May
Johnson, P.A. have negotiated the terms of the Escrow Agreement.
Under the terms of the Escrow Agreement, the Debtor would
nominally be paying $30,000 into the Escrow Account.  However,
because the Debtor's cash is subject to Cadence Bank's liens, the
Debtor's principals, John Dalfino and John T. Steger, have agreed
to fund the Escrow Agreement using personal, non-debtor funds.
Both Mr. Dalfino and Mr. Steger have agreed that any moneys used
to initially fund the Escrow Account would be contributed by
them not as a loan to the Debtor, but solely as an accommodation
so that it is unnecessary to use Cadence Bank's cash collateral
for any purposes associated with the Escrow Agreement.

                       About Outlaw Ridge

Outlaw Ridge, Inc., operates a sand and lime rock mine in Pasco
County, Florida.  Outlaw Ridge, LLC, owns several parcels of
property in Pasco County that is holding for residential
development.  The two entities are owned and controlled by John M.
Dalfino and John T. Steger.

Outlaw Ridge Inc. and Outlaw Ridge, LLC sought Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Case Nos. 14-04400 and 14-
04401) on April 21, 2014, in Tampa, Florida.

The Debtors are seeking joint administration of their Chapter 11
cases.

Adam L Alpert, Esq., at Bush Ross P.A., in Tampa, serves as the
Debtors' counsel.

OR LLC disclosed $1.36 million in total assets and $2.97 million
in liabilities while OR Inc. disclosed $15.4 million in total
assets and $4.21 million in liabilities.


OW BUNKER: US Units Want to Sell Over 150K Barrels of Oil
---------------------------------------------------------
Erik Larson at Bloomberg News reports that OW Bunker A/S's U.S.
units has asked for permission of the U.S. Bankruptcy Court for
the District of Connecticut to sell more than 150,000 barrels of
oil.

According to a court filing by OW Bunker North America Inc. dated
Nov. 18, 2014, the subsidiaries seek as much as $13.5 million by
selling more than 27,000 metric tons of various grades of oil at
the Royal Vopak NV (VPK) terminal in Los Angeles, plus lesser
amounts stored in vessels offshore.

OW Bunker said in the filing that the California oil must be sold
quickly, at $350-to-$500 per metric ton, to avoid fluctuating oil
prices and required storage costs of more than $300,000 a month.

                          About OW Bunker

OW Bunker A/S is a Danish shipping fuel provider.

On Nov. 7, 2014, OW Bunker A/S, which went public in March,
declared bankruptcy and reported two employees at its Singapore
unit to the police following allegations of fraud.  It owes 15
banks a total of about US$750 million.

OW Bunker said on Nov. 5 it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singapore office and poor risk management.  Trading in its shares
was suspended on Nov. 5 and the company said its banks had
refused to provide more credit.

OW Bunker's U.S. businesses, which opened in 2012 as part of its
global expansion, filed for Chapter 11 bankrutpcy protection on
Nov. 13, 2014, in theh U.S. Bankruptcy Court for the District of
Connecticut.  The U.S. subsidiaries have assets worth as much as
US$50 million and debt of as much as US$100 million.


PACIFIC SANDS: Incurs $456,000 Net Loss in Sept. 30 Quarter
-----------------------------------------------------------
Pacific Sands, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $456,792 on $486,045 of net sales for the three months ended
Sept. 30, 2014, compared to net income of $798 on $537,353 of net
sales for the same period in 2013.

As of Sept. 30, 2014, the Company had $1.26 million in total
assets, $1.53 million in total liabilities and a $265,836 total
stockholders' deficit.

"The Company's ability to achieve its objectives is dependent on
its ability to sustain and enhance its revenue stream and to
continue to raise funds through loans, credit and the private
placement of restricted securities until such time as the Company
achieves profitability.  To date, management has been successful
in raising cash on an as-needed basis for the continued operations
of the Company.  There is no guarantee that management will be
able to continue to raise needed cash in this fashion."

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

                       http://is.gd/XZZdtZ

Based in Kenosha, Wisconsin, Pacific Sands, Inc. with the right to
do business as Natural Water Technologies was incorporated in
Nevada on July 7, 1994.

Pacific Sands develops, manufactures, markets and sells a range of
nontoxic, environmentally friendly cleaning and water-treatment
products based on proprietary blended botanical, nontoxic and
natural chemical technologies.  The Company's products have
applications ranging from water maintenance (spas, swimming pools,
fountains, decorative ponds) to cleaning (nontoxic household and
industrial) and pet care.

Pacific Sands reported a net loss of $334,059 for the year ended
June 30, 2014, compared to a net loss of $104,482 for the year
ended June 30, 2013.

Sassetti, LLC, in Oak Park, Illinois, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2014, citing that the Company has a
significant accumulated deficit which raises substantial doubt
about the Company's ability to continue as a going concern.


PARAGON OFFSHORE: S&P Lowers CCR to 'BB-'; Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Paragon Offshore Ltd. to 'BB-' from 'BB'.  The
outlook is negative.  S&P also lowered its issue-level ratings on
the company's senior secured debt to 'BB+' from 'BBB-' and on its
senior unsecured debt to 'B' from 'B+'.

The downgrade reflects deteriorating financial measures stemming
from the debt financing of the Prospector acquisition, combined
with deteriorating market conditions, which S&P expects will
materially weaken expected financial performance.  In addition,
the negative outlook reflects S&P's expectation of deterioration
in market conditions as commodity prices weaken; continued
oversupply in the offshore rig market; and S&P's assessment of a
more aggressive financial policy, which could lead to further
weakening in financial performance.

"The negative outlook reflects our expectation that the oversupply
in the offshore rig market will heighten competition and
recontracting risk over the next two years, resulting in downward
pressure on dayrates and utilization, particularly in the jack-up
segment, where Paragon has a significant concentration," said
Standard & Poor's credit analyst Susan Ding.

S&P could revise its outlook to stable if the competitive
landscape for the offshore drillers improved, or if Paragon were
able to mitigate some of the recontracting risk while maintaining
FFO to total debt comfortably above 30% and total debt to EBITDA
below 3x.

S&P would lower the ratings if the company's operating performance
deteriorated as a result of lower revenues and EBITDA stemming
from a softer-than-expected market for jack-ups, such that S&P
expects FFO to total debt to decline to less than 20% and/or total
debt to EBITDA exceeds 4x for a sustained period of time.


PEOPLEWELL HR: Files for Chapter 11 in Tampa
--------------------------------------------
Peoplewell HR Solutions, LLC, has filed for bankruptcy saying that
it had $340 million in total assets against $1.36 million in total
liabilities.

The Debtor's business had not recorded any sales in the past three
years, the Debtor has no real property, and the Debtor's checking
account only contains $30 but the Debtor.  Claims or counterclaims
against Dr. Kiran Patel; Wizcraft USA; Wizcraft International
Entertainment - Singapore Pte Ltd; Akarsh Kolaparth; and 7 M
Tours, LLC totaling $340 million constitute the Debtor's lone
significant asset.  The Debtor's debt of $1,356,000 is all on
account of unsecured claims.

A copy of the schedules of assets and liabilities and statement of
financial affairs, filed together with the petition, is available
for free at http://bankrupt.com/misc/flmb14-13688.pdf

Peoplewell HR Solutions, LLC, sought Chapter 11 protection (Bankr.
M.D. Fla. Case No. 8:14-bk-13688) on Nov. 21, 2014, in Tampa,
Florida.  Buddy D. Ford, PA, serves as counsel to the Debtor.

Chetan R. Shah, the manager, signed the petition.  Shah filed her
own bankruptcy case on Aug. 7, 2014, Case No. 14-09207, which is
pending before Judge Catherine Peek McEwen.  Related entities that
sought bankruptcy protection also include Athenon CDK Corporation,
Go Bollywood Tampa Bay Florida Convention, LLC, and Hillsdale
Financial Synergy, LLC.

According to a court filing, Peoplewell HR together with Chetan
Sha, and Go Bollywood, have entered into a contingency agreement
to prosecute an adversary proceeding against Dr. Kiran Patel.


PEOPLEWELL HR: Proposes Buddy D. Ford as Bankruptcy Counsel
-----------------------------------------------------------
Peoplewell HR Solutions, LLC, seeks approval from the Bankruptcy
Court to employ the law firm of Buddy D. Ford, P.A., as counsel.

The Debtor has agreed to compensate the firm on an hourly basis
for services rendered at the standard hourly rates of the
respective attorneys and paralegals, which rates range from $375
per hour for its most experienced attorneys to $10 for its most
junior paraprofessionals.

Prior to the Petition Date, the Debtor's principal, Shreya Patel,
paid an advance fee of $3,000.

The Debtor believes that the firm represents no interest adverse
to the Debtor or the estate in the matters upon which it is to be
engaged.

                   About Peoplewell HR Solutions

Peoplewell HR Solutions, LLC, sought Chapter 11 protection (Bankr.
M.D. Fla. Case No. 8:14-bk-13688) on Nov. 21, 2014, in Tampa,
Florida.

The Debtor disclosed $340 million in assets and $1.36 million in
debt.

Chetan R. Shah, the manager, signed the petition.  Shah filed her
own bankruptcy case on Aug. 7, 2014, Case No. 14-09207, which is
pending before Judge Catherine Peek McEwen.  Related entities that
sought bankruptcy protection also include Athenon CDK Corporation,
Go Bollywood Tampa Bay Florida Convention, LLC, and Hillsdale
Financial Synergy, LLC.


PEOPLEWELL HR: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Peoplewell HR Solutions, LLC.
        4001 W. Henry Ave.
        Tampa, FL 33614

Case No.: 14-13688

Chapter 11 Petition Date: November 21, 2014

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Buddy D. Ford, Esq.
                  BUDDY D. FORD, P.A.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: 813-877-4669
                  Fax: 813-877-5543
                  Email: Buddy@tampaesq.com
                         All@tampaesq.com

Total Assets: $340 million

Total Liabilities: $1.35 million

The petition was signed by Chetan R. Shah, manager.

List of Debtor's Three Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Akarsh Kolaparth & 7M Tours, LLC    Lawsuit           $1,000,000
c/o Megha D. Bhouraskar PC
139 Fulton St., Ste. 902
New York, NY 10038

The McIntyre Law Firm               Office Rental        $48,000
6943 E. Fowler Avenue
Tampa, FL 33617

Yuma Solutions, Inc.                IT-Data Provider      $8,000
P.O. Box 150075
Tampa, FL 33684


PLASTIC2OIL INC: Incurs $1.4 Million Net Loss in Third Quarter
--------------------------------------------------------------
Plastic2Oil, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.41 million on $42,641 of total sales for the three months
ended Sept. 30, 2014, compared to a net loss of $4.05 million on
$302,275 of total sales for the same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $4.18 million on $67,714 of total sales compared to a
net loss of $9.82 million on $548,988 of total sales for the same
period last year.

As of Sept. 30, 2014, the Company had $8.19 million in total
assets, $6.99 million in total liabilities and $1.19 million in
total stockholders' equity.

As of Sept. 30, 2014, the Company had cash and cash equivalents of
$20,391 on hand.

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

                        http://is.gd/CjSrX4

Plastic2Oil, Inc., formerly JBI Inc., is a North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement.  The Company's Plastic2Oil (P2O) is a process designed
to provide immediate economic benefit for industry, communities
and government organizations with waste plastic recycling
challenges.  It is also focused on the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.  The Company's
fuel products include No. 6 Fuel, No. 2 Fuel (diesel, petroleum
distillate), Naphtha, Petcoke (carbon black) and Off-Gases. No. 6
Fuel is heavy fuel used in industrial boilers and ships. No. 2
Fuel is a mid-range fuel known as furnace oil or diesel.  Naphtha
is a light fuel that is used as a cut feedstock for ethanol or as
white gasoline in high and regular grade road certified fuels.


PLUG POWER: Files Form 10-Q, Issues Bankruptcy Warning
------------------------------------------------------
Plug Power Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $9.37 million on $19.88
million of total revenue for the three months ended Sept. 30,
2014, compared to a net loss attributable to common shareholders
of $15.94 million on $4.62 million of total revenue for the same
period last year.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss attributable to common shareholders of $81.46 million on
$42.77 million of total revenue compared to a net loss
attributable to common shareholders of $33.86 million on $18.56
million of total revenue for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $211.80
million in total assets, $46.81 million in total liabilities,
$1.15 million in redeemable preferred stock, and $163.84 million
in total stockholders' equity.

"Our cash requirements relate primarily to working capital needed
to operate and grow our business, including funding operating
expenses, growth in inventory to support both shipments of new
units and servicing the installed base, funding the growth in our
GenKey "turn-key" solution which also includes the installation of
our customer's hydrogen infrastructure as well as delivery of the
hydrogen molecule, and continued development and expansion of our
products.  Our ability to achieve profitability and meet future
liquidity needs and capital requirements will depend upon numerous
factors, including the timing and quantity of product orders and
shipments; the timing and amount of our operating expenses; the
timing and costs of working capital needs; the timing and costs of
building a sales base; the timing and costs of developing
marketing and distribution channels; the timing and costs of
product service requirements; the timing and costs of hiring and
training product staff; the extent to which our products gain
market acceptance; the timing and costs of product development and
introductions; the extent of our ongoing and any new research and
development programs; and changes in our strategy or our planned
activities.  If we are unable to fund our operations, we may be
required to delay, reduce and/or cease our operations and/or seek
bankruptcy protection."

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

                        http://is.gd/YUrusF

                         About Plug Power

Plug Power Inc. is a provider of alternative energy technology
focused on the design, development, commercialization and
manufacture of fuel cell systems for the industrial off-road
(forklift or material handling) market.

Plug Power reported a net loss attributable to common shareholders
of $62.79 million in 2013, a net loss of $31.86 million in 2012
and a net loss of $27.45 million in 2011.


PREMIER TRANSFER: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Premier Transfer and Storage, Inc.
        P.O. Box 10728
        Blacksburg, VA 24062

Case No.: 14-71628

Chapter 11 Petition Date: November 21, 2014

Court: United States Bankruptcy Court
       Western District of Virginia (Roanoke)

Judge: Hon. Rebecca B. Connelly

Debtor's Counsel: Andrew S Goldstein, Esq.
                  MAGEE GOLDSTEIN LASKY & SAYERS, P.C.
                  P O Box 404
                  Roanoke, VA 24003
                  Tel: 540 343-9800
                  Email: agoldstein@mglspc.com

                    - and -

                  Garren R. Laymon, Esq.
                  MAGEE GOLDSTEIN LASKY & SAYERS, PC
                  P. O. Box 404
                  Roanoke, VA 24003
                  Tel: (540) 343-9800
                  Fax: (540) 343-9898
                  Email: glaymon@mglspc.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John S. Phillips, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/vawb14-71628.pdf


REALOGY CORP: Issues $300 Million Senior Notes Due 2021
-------------------------------------------------------
Realogy Group LLC, together with Realogy Co-Issuer Corp., the
Company's wholly-owned subsidiary, issued $300 million aggregate
principal amount of 5.250% senior notes due 2021, under an
indenture, dated as of Nov. 21, 2014, among the Company, Realogy
Holdings Corp., an indirect parent of the Company, the Co-Issuer,
the Note Guarantors and The Bank of New York Mellon Trust Company,
N.A., as trustee for the Notes.  The Notes were issued in a
private offering exempt from the registration requirements of the
Securities Act of 1933, as amended, to persons reasonably believed
to be qualified institutional buyers in accordance with Rule 144A
under the Securities Act and to persons outside of the United
States pursuant to Regulation S under the Securities Act.

The Company intends to use the net proceeds from the offering of
the Notes of approximately $296 million, along with cash on hand,
to redeem all of the $332 million aggregate outstanding principal
amount of its 7.875% Senior Secured Notes due 2019 at a redemption
price of 100% plus the applicable "make whole" premium, together
with accrued and unpaid interest to the redemption date.

The Notes are unsecured senior obligations of the Company and will
mature on Dec. 1, 2021.  The Notes bear interest at a rate of
5.250% per annum.  Interest on the Notes will be payable
semi-annually to holders of record at the close of business on May
15 or November 15 immediately preceding the interest payment date
on June 1 and December 1 of each year, commencing June 1, 2015.
On or after Dec. 1, 2017, the Issuers may redeem the Notes at
their option, in whole at any time or in part from time to time,
at specified redemption prices, plus accrued and unpaid interest
to the redemption date.  In addition, prior to Dec. 1, 2017, the
Company may redeem all or a portion of the Notes at a price equal
to 100% of the principal amount of the Notes to be redeemed, plus
accrued and unpaid interest, plus a "make whole" premium.  The
Company may also redeem up to 40% of the aggregate principal
amount of the Notes at any time and from time to time on or prior
to Dec. 1, 2017, with the net cash proceeds of certain equity
offerings at a price equal to 105.250% of the principal amount
thereof, plus accrued and unpaid interest, to the date of
redemption.  If the Company experiences certain kinds of changes
in control, it must offer to purchase the Notes at a price equal
to 101% of the principal amount, plus accrued and unpaid interest.
If the Company sells certain assets, it must offer to repurchase
the Notes at 100% of the principal amount, plus accrued and unpaid
interest.

Additional information regarding the transaction is available for
free at http://is.gd/Yp5SMt

                         About Realogy Corp.

Realogy Corp. -- http://www.realogy.com/-- a global provider of
real estate and relocation services with a diversified business
model that includes real estate franchising, brokerage, relocation
and title services.  Realogy's world-renowned brands and business
units include Better Homes and Gardens Real Estate, CENTURY 21,
Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group,
ERA, Sotheby's International Realty, NRT LLC, Cartus and Title
Resource Group.  Collectively, Realogy's franchise systems have
around 15,000 offices and 270,000 sales associates doing business
in 92 countries around the world.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.

Realogy Holdings Corp. and Realogy Group LLC reported net income
of $443 million in 2013, a net loss of $540 million in 2012 and
a net loss of $439 million in 2011.

                           *     *     *

In the Aug. 1, 2013, edition of the TCR, Moody's Investors Service
upgraded the corporate family rating of Realogy Group to B2
from B3.  The upgrade to B2 CFR is driven by expectations for
ongoing strong financial performance, supported by Realogy's
recently-concluded debt and equity financing activities and a
continuing recovery in the US existing home sale market.

As reported by the TCR on Feb. 18, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Realogy Corp. to
'B+' from 'B'.

"The one notch upgrade in the corporate credit rating to 'B+'
reflects an increase in our expectation for operating performance
at Realogy in 2013, and S&P's expectation that total lease
adjusted debt to EBITDA will improve to the low-6x area and funds
from operations (FFO) to total adjusted debt will be improve to
the high-single-digits percentage area in 2013, mostly due to
EBITDA growth in the low- to mid-teens percentage area in 2013,"
S&P said.


REGENT PARK: Case Summary & 13 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Regent Park Capital, LLC
           fka Pokorne Private Capital Group LLC
        6500 Riverplace Boulevard, 7-250
        Austin, TX 78730

Case No.: 14-11731

Chapter 11 Petition Date: November 21, 2014

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

Judge: Hon. Tony M. Davis

Debtor's Counsel: Rhonda Bear Mates, Esq.
                  HUSCH BLACKWELL LLP
                  111 Congress Ave., Suite 1400
                  Austin, TX 78701
                  Tel: 512-479-9765
                  Fax: 512-481-4808
                  Email: rhonda.mates@huschblackwell.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lester N. Pokorne, managing member.

List of Debtor's 13 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Steven Schulz                                          $983,010
6500 Riverplace Blvd., 7-250
Austin, TX 78730

Carol Ann Mateo                                          $3,292

Kathy vasquez                                            $2,821

Gladys Schulz                                            $1,250

Altisource/Mortgage Builder                              $1,106

Pedro Bautista                                             $961

Dominga Hurtado-Nava                                       $858

Deshawn Crawford                                           $470

Longhorn Crossing, LLC                                     $230

Federal Express                                             $22

Lester N. Pokome                                        Unknown

North Houston Beemer, LP                                Unknown

Spring 45 LP                                            Unknown


REVEL AC: Deal to Sell to Brookfield at Risk
--------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that a
showdown between Atlantic City, N.J.'s shuttered Revel Casino
Hotel and the bondholders behind its custom-built power plant is
threatening to unravel a $110 million deal to sell the boardwalk
resort to Canadian private-equity firm Brookfield Capital Partners
LP.

According to the Journal, Brookfield, which earlier this year won
a bankruptcy auction to buy the property for $110 million, has
informed Revel that it plans to pull out of the deal due to the
bondholder's unwillingness to lower payments tied to the power
plant's construction.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that in the course of asking court permission to
terminate a license to use the Revel trademark, the casino said
Brookfield won't be using the name when the property reopens.

                          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.


RICEBRAN TECHNOLOGIES: Incurs $3.7 Million Net Loss in Q3
---------------------------------------------------------
RiceBran Technologies filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company's shareholders of $3.69 million on
$10.41 million of revenues for the three months ended Sept. 30,
2014, compared to a net loss attributable to the Company's
shareholders of $2.07 million on $8.72 million of revenues for the
same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss attributable to the Company's shareholders of $20.62
million on $29.43 million of revenues compared to a net loss
attributable to the Company's shareholders of $9.85 million on
$26.82 million of revenues for the same period last year.

As of Sept. 30, 2014, the Company had $46.55 million in total
assets, $29.91 million in total liabilities, $3.94 million in
redeemable noncontrolling interest in Nutra SA, and $12.68 million
in total equity attributable to the Company's shareholders.

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

                        http://is.gd/P5f5CC

                          About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

RiceBran Technologies reported a net loss of $17.64 million on
$35.05 million of revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $11.13 million on $37.72 million of
revenues for the year ended Dec. 31, 2012.

As of June 30, 2014, the Company had $54.31 million in total
assets, $32.13 million in total liabilities, $5.60 million in
temporary equity and $16.57 million in total equity attributable
to the Company's shareholders.

BDO USA, LLP, in Phoenix, Arizona, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations
resulting in an accumulated deficit of $219 million at Dec. 31,
2013.  This factor among other things, raises substantial doubt
about its ability to continue as a going concern.


ROCKWELL MEDICAL: Prices $58.5MM Public Offering of Common Stock
----------------------------------------------------------------
Rockwell Medical, Inc., a fully-integrated biopharmaceutical
company targeting end-stage renal disease and chronic kidney
disease with innovative products and services for the treatment of
iron deficiency, secondary hyperparathyroidism and hemodialysis,
announced that it has priced an underwritten public offering of
6,500,000 shares of its common stock at a price to the public of
$9.00 per share for gross proceeds of $58.5 million.  The net
proceeds from the sale of the shares, after deducting the
underwriters' discounts and other estimated offering expenses
payable by Rockwell, will be approximately $54.7 million.
Rockwell has also granted the underwriters a 30-day option to
purchase up to an additional 975,000 shares of common stock
offered in the public offering.

The net proceeds of the offering will be used to repay outstanding
secured indebtedness and for other general corporate purposes.
The offering is expected to close on or about Nov. 25, 2014,
subject to the satisfaction of customary closing conditions.

BofA Merrill Lynch is acting as the sole book-running manager for
the proposed offering.  Stifel is acting as lead manager and
Summer Street Research Partners, Craig-Hallum, Chardan Capital
Markets, LLC, and LifeSci Capital are acting as co-managers.

                           About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell Medical reported a net loss of $48.78 million in 2013, a
net loss of $54.02 million in 2012 and a net loss of $21.44
million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $23.9
million in total assets, $29.3 million in total liabilities, and a
$5.45 million total shareholders' deficit.


RURAL/METRO CORP: Salem Replaces Co. With Falck Northwest
---------------------------------------------------------
Joce DeWitt at Statesman Journal reports that Rural/Metro of
Oregon Inc. has lost to Falck Northwest the contract to provide
ambulance service in Salem, Oregon.

Statesman Journal relates that out of three bidders, which
included the Company, the city of Salem sent a letter of intent to
award a contract to Falck Northwest.  The report says that Falck
Northwest would replace the Company, which has provided the
service in Salem since 2005 and whose contract expires July 1,
2015.

Statesman Journal relates that after the city issued its intent to
award, the other companies had 10 days to protest the decision.
The Company and the other bidder, American Medical Response (AMR),
filed protests, the report says, citing Chief Mike Niblock of the
Salem Fire Department

"I would say (the announcement) was both a surprise and
disappointment for us," Statesman Journal quoted Aaron Monnig,
general manager of Rural/Metro Oregon Operations, as saying.  The
report says that the Company's officials believed their services
have been meeting the city's standards.

The Company  wasn't given appropriate credit in the selection
process, specifically in their pledge for capital investments,
which amounted to $2.7 million, Statesman Journal reports, citing
Mr. Monnig and Tom Milton, community relations director of the
Company.  "It appears they did not take into account our existing
capital investments in the city over the past nine years," the
report quoted Mr. Monnig as saying.

According to Statesman Journal, the Company outlined a number of
other concerns with the city's decision, including whether Falck
Northwest has the type of experience needed to operate a 911
system of a similar size to Salem.  The Company, Statesman Journal
relates, added that the Company's 65 workers, who go to work for
the new vendor, may receive reduced pay and benefits.

Statesman Journal reports that AMR Northwest general manager Randy
Lauer said, "We know that (Falck) didn't qualify -- they're not
even certified in Oregon."

Statesman Journal states that the city is supposed to respond to
the letters of protest by the week of Dec. 8, 2014, and the
contract will not be awarded until the protest process is
resolved.

                      About Rural/Metro Corp

Headquartered in Scottsdale, Arizona, Rural/Metro Corporation --
http://www.ruralmetro.com-- is a national provider of 911-
emergency and non-emergency interfacility ambulance services and
private fire protection services, operating in 21 states and
nearly 700 communities.  Rural/Metro was acquired in 2011 in a
leveraged buyout by Warburg Pincus LLC as part of a transaction
valued at $676.5 million.

Rural/Metro Corp. and 59 affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 13-11952) on Aug. 4, 2013, before
the U.S. Bankruptcy Court for the District of Delaware.  Debt
includes $318.5 million on a secured term loan and $109 million on
a revolving credit with Credit Suisse AG serving as agent. There
is $312.2 million owing on two issues of 10.125 percent senior
unsecured notes.

The Debtors' lead bankruptcy counsel are Matthew A. Feldman, Esq.,
Rachel C. Strickland, Esq., and Daniel Forman, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Maris J. Kandestin, Esq., and
Edmon L. Morton, Esq., at Young, Conaway, Stargatt & Taylor, LLP,
in Wilmington, Delaware, serve as the Debtors' local Delaware
counsel.

Alvarez & Marsal Healthcare Industry Group, LLC, and FTI
Consulting, Inc., are the Debtors' financial advisors, while
Lazard Freres & Co. L.L.C. is their investment banker.  Donlin,
Recano & Company, Inc., is the Debtors' claims and noticing agent.

The U.S. Trustee has appointed a three-member official committee
of unsecured creditors in the Chapter 11 case.

The Debtors have arranged $75 million of DIP financing from a
group of prepetition lenders led by Credit Suisse AG.  An interim
order has allowed the Debtors to access $40 million of the DIP
facility.

The Debtors have filed a reorganization plan largely worked out
before the Chapter 11 filing in early August.  Existing
shareholders receive nothing in the plan.

The Company's debt includes $318.5 million on a secured term loan
and $109 million on a revolving credit with Credit Suisse AG
serving as agent.  There is $312.2 million owing on two issues of
10.125 percent senior unsecured notes.

Interested parties can also contact Rural/Metro's claims agent,
Donlin, Recano & Company, Inc. directly by calling Rural/Metro's
restructuring hotline at 212-771-1128.

Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor,
LLP are serving as legal counsel, Lazard Freres & Co. L.L.C. is
serving as investment banker, and Alvarez & Marsal and FTI
Consulting, Inc. are serving as financial advisors to Rural/Metro.

Rural/Metro won confirmation of its First Amended Joint Chapter 11
Plan of Reorganization on Dec. 17, 2013.  The Plan was declared
effective, and Rural/Metro and its affiliates emerged from
bankruptcy protection on Dec. 31.  The Plan enabled unsecured
noteholders to become controlling stockholders.  Unsecured
noteholders owed $312.2 million took all the new preferred stock
and 70 percent of the common stock in return for a $135 million
equity contribution through a rights offering.


SEA SHELL COLLECTIONS: Wants to Sell Real Property in Santa Rosa
----------------------------------------------------------------
Sea Shell Collections, LLC, asks the United States Bankruptcy
Court for the Northern District of Florida to have an expedited
hearing and to enter an order authorizing Sea Shell to sell, free
and clear of all liens, claims, encumbrances and interests, all of
Sea Shell's right, title and interest in and to the real property
located at 850 Gulf Breeze Parkway, in Santa Rosa County, Florida,
consisting of approximately 0.8 acres.

Andrade Associates Limited Partnership is the proposed buyer.

A portion of the first-priority mortgage of Stabilis Master Fund
III, LLC will be paid at the closing of the transaction.

The Property is being operated by a Panera Bread Company store.
To date, $45,208 in back rent is being held by Panera and they are
now ready to pay.  The parties agree that upon the closing of the
sale transaction, $23,850 will be paid to Durney Properties, a
leasing agent; $11,925.00 will be paid to Trademark Properties, a
leasing agent; and, $9,433.33 will be paid to Stabilis to be
applied to the agreed upon pay-off of the Sea Shell debt.

                   About Sea Shell Collections

Sea Shell Collections, LLC, owner of a Publix-Anchored shopping
Center development located in Gulf Breeze, Florida, at the
northeast corner of Highway 98 and Daniel Drive, filed a Chapter
11 bankruptcy petition (Bankr. N.D. Fla. Case No. 14-30813) on
July 29, 2014.

Judge William S. Shulman presides over the case.  Helmsing, Leach,
Herlong, Newman & Rouse, P.C., serves as the Debtor's counsel.

The Debtor disclosed $23,354,955 in assets and $25,121,011 in
liabilities in its schedules.


SEA SHELL COLLECTIONS: Taps Marcus & Millichap as Brokers
---------------------------------------------------------
Sea Shell Collections, LLC seeks authorization from the U.S.
Bankruptcy Court for the Northern District of Florida to employ
Marcus & Millichap Real Estate Investment Brokerage Company of
Florida in connection with the sale of certain property located at
850 Gulf Breeze Parkway, Santa Rosa County, Florida.

Marcus & Millichap's commission for the real property transaction
will be 5% of the final purchase price.

Marc E. Strauss, first vice president of Marcus & Millichap,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

Marcus & Millichap can be reached at:

       Marc E. Strauss
       MARCUS & MILLICHAP REAL ESTATE INVESTMENT
       BROKERAGE COMPANY OF FLORIDA
       5900 N. Andrews Ave., Suite 100
       Ft. Lauderdale, FL 33309
       Tel: (954) 245-3500

                  About Sea Shell Collections

Sea Shell Collections, LLC, owner of a Publix-Anchored shopping
Center development located in Gulf Breeze, Florida, at the
northeast corner of Highway 98 and Daniel Drive, filed a Chapter
11 bankruptcy petition (Bankr. N.D. Fla. Case No. 14-30813) on
July 29, 2014.

Judge William S. Shulman presides over the case.  Helmsing, Leach,
Herlong, Newman & Rouse, P.C., serves as the Debtor's counsel.

The Debtor disclosed $23,354,955 in assets and $25,121,011 in
liabilities in its schedules.


SEARS HOLDINGS: Raised $625 Million From Rights Offering
--------------------------------------------------------
Sears Holdings Corporation's previously-announced rights offering
for units consisting of notes and warrants of the Company expired
on Nov. 18, 2014.  Pursuant to the Rights Offering, the Company
raised gross proceeds of $625 million.

In the Rights Offering, Sears Holdings distributed at no charge a
total of 1,250,000 transferable rights to holders of record of its
common stock.  Each Right entitled a holder thereof to purchase,
at the subscription price of $500, one (1) unit, consisting of (a)
a 8% senior unsecured note due Dec. 15, 2019, in the principal
amount of $500 and (b) 17.5994 warrants, with each Warrant
entitling the holder thereof to purchase one share of Common
Stock.  A total of 1,250,000 Units were purchased (including
1,202,079 through the exercise of basic subscription rights and
47,921 through the exercise of oversubscription rights).

Pursuant to the Rights Offering, on Nov. 21, 2014, the Company
issued $625 million in aggregate principal amount of Notes and
Warrants to purchase an aggregate of approximately 22 million
shares of Common Stock at an exercise price of $28.41 per share,
subject to adjustment as described in the Warrant Agreement.  No
fractional Warrants were issued.

Notes

On Nov. 21, 2014, the Company, as Issuer, and Computershare Trust
Company, N.A, as Trustee, entered into an Indenture and
Supplemental Indenture governing the terms of the Notes.  On
Nov. 21, 2014, the Company issued $625 million aggregate original
principal amount of 8% senior unsecured notes due
Dec. 15, 2019.  The Notes are the unsecured and unsubordinated
obligations of the Company and rank equal in right of payment with
the existing and future unsecured and unsubordinated indebtedness
of the Company.  The Notes are not guaranteed.

The Notes bear interest at a rate of 8.0% per annum.  The Company
will pay interest on the Notes semi-annually on June 15 and
December 15 of each year, commencing on June 15, 2014.

Warrants

On Nov. 21, 2014, the Company issued an aggregate of approximately
22 million Warrants pursuant to the exercise of Rights in the
Rights Offering under the terms of a Warrant Agreement by and
between the Registrant and Computershare Inc. and Computershare
Trust Company, N.A., together as Warrant Agent, dated as of
Nov. 21, 2014.  Each Warrant, when exercised, will entitle the
holder thereof to purchase one share of the Company's Common Stock
at an exercise price of $28.41 per share under the terms of the
Warrant Agreement, which exercise price is payable in cash or by
surrendering Notes with a principal amount at least equal to the
exercise price.  The exercise price and the number of shares of
Common Stock issuable upon exercise of a Warrant are both subject
to adjustment in certain circumstances.  The Warrants may be
exercised at any time after 5:00 p.m., New York City time on
Nov. 24, 2014.  Unless earlier exercised, the Warrants will expire
on Dec. 15, 2019.

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SEARS HOLDINGS: ESL Partners Reports 51.9% Stake as of Nov. 18
--------------------------------------------------------------
ESL Partners, L.P., disclosed in an amended regulatory filing with
the U.S. Securities and Exchange Commission that as of
Nov. 18, 2014, it beneficially owned 57,760,568 shares of common
stock of Sears Holdings Corporation representing 51.9 percent of
the shares outstanding.

On Nov. 18, 2014, ESL Partners, L.P., CRK Partners, LLC, ESL
Institutional Partners, L.P., and Edward S. Lampert purchased an
aggregate of 563,089 Units from Sears Holdings pursuant to their
exercise of Rights in connection with the NotesWarrants Offering.
The Units are immediately severable into an aggregate of 563,089
Notes and 9,910,025 Warrants.  In addition, on Nov. 18, 2014, in
connection with the Notes Warrants Offering by Holdings to its
stockholders, Partners and Mr. Lampert purchased an aggregate of
35,263 Units from Holdings pursuant to the over-subscription
privileges associated with the Rights.  The Units are immediately
severable into an aggregate of 35,263 Notes and 620,608 Warrants.

A full-text copy of the regulatory filing is available at:

                        http://is.gd/bXxAJX

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SHELBOURNE NORTH: Related Midwest Wants 10 Unsecured Claims Denied
------------------------------------------------------------------
Related Midwest LLC has asked a judge to deny 10 unsecured claims
totaling more than $1.1 million against the Chicago Spire project.
Unsecured claims on the project total $5.5 million.

As reported by the Troubled Company Reporter on Nov. 7, 2014,
David Lee Matthews at Chicagobusiness.com reported that Joseph D.
Frank, Esq., who represents Chicago Spire developer Garrett
Kelleher, confirmed that his client handed over the development
site at 400 N. Lake Shore Drive to Related Midwest, after failing
to make a required payment in October.

Chicagobusiness.com relates that unsecured claims include those
of:

      a. Chicago-based Knight Engineers & Architects, which claims
         $565,274;

      b. Canadian engineering firm Rowan Williams Davies and
         Irwin, which claims $396,750; and

      c. public relations firm Weber Shandwick, which claims
         $56,645.48.

Chicagobusiness.com says that Related Midwest was scheduled to pay
unsecured creditors between 58 and 77 percent of their claims,
barring any other claims emerging, but the developer wants to
dismiss the 10 claims, arguing that the creditors failed to prove
the validity of working agreements with the venture that entered
bankruptcy.  The claims aren't secured by the property, the report
adds.

According to Chicagobusiness.com, some disputed claims have been
settled, including a $4.8 million claim filed by architecture firm
Perkins & Will.  Perkins & Will, the report says, was allowed a
claim of $1.38 million, but the final amount depends on how the
bankruptcy proceeds.

Chicagobusiness.com relates that architect Santiago Calatrava, who
designed the unbuilt 2,000-foot Chicago Spire and whose fee is
among the biggest bills left unpaid by Mr. Kelleher, won't receive
much money.  According to the report, it's unclear whether Mr.
Kelleher paid Mr. Calatrava anything for his work on the Spire or
whether the $11.3 million represents the architect's entire fee.
The Calatrava venture did not file a claim in bankruptcy court,
the report says.

Court documents show that Mr. Calatrava's venture missed a two-
year legal window to file a lawsuit to enforce its lien, which
potentially could have secured the claim against the property,
increasing the chances that Mr. Calatrava would have received a
payout in a bankruptcy plan.

                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.


SISTER 2 SISTER: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Sister 2 Sister, Inc.
        2008 Enterprise Road
        Bowie, MD 20721

Case No.: 14-27944

Chapter 11 Petition Date: November 21, 2014

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Hon. Paul Mannes

Debtor's Counsel: Douglas N. Gottron, Esq.
                  MORRIS PALERM, LLC
                  416 Hungerford Drive, Suite 315
                  Rockville, MD 20850
                  Tel: (301) 424-6290
                  Fax: (301) 424-6294
                  Email: dgottron@morrispalerm.com

Total Assets: $86,792

Total Liabilities: $1.66 million

The petition was signed by Jameseeta Brown, majority shareholder.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mdb14-27944.pdf


SONNEBORN HOLDINGS: S&P Rates Proposed 1st Lien Secured Debt 'B'
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' issue rating
and '3' recovery rating to proposed first-lien senior secured debt
being issued by subsidiaries of Sonneborn Holdings L.P.  The '3'
recovery rating indicates our expectation for meaningful(50% to
70%) recovery in the event of a payment default.  All ratings on
Sonneborn Holdings L.P. including the 'B' corporate credit rating
remain unchanged.  The outlook is stable.

SEEGRID CORP: Creditor Seeks Confirmation Hearing Delay to 2015
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Seegrid Corp. former chief executive officer
Anthony Horbal and related entities, as creditors, asked the
bankruptcy court in Delaware to move the confirmation hearing,
scheduled for Dec. 10, to January or February next year because it
will be "heavily contested," involve expert witnesses on valuation
and require substantial presentations of law and facts.

According to the report, the Horbal group said its ability to
prepare a case has been effectively rendered a "nullity" as the
company hasn?t turned over documents as expeditiously as promised.

                    About Seegrid Corporation

Pittsburgh-based Seegrid Corporation is a developer of robotic
vision-guided automated vehicles.  It was founded in 2003 by two
Carnegie Mellon University robotic scientists, Hans Moravec and
Scott Friedman.

Seegrid Corporation filed for Chapter 11 bankruptcy protection
(Bank. D. Del. Case No. 14-12391) on Oct. 21, 2014, estimating its
assets at $1 million to $10 million and its debt at $50 million to
$100 million.  The Hon. Brendan Linehan Shannon presides over the
case.  The petition was signed by David Hellman, president.

The proposed first-lien debt consists of a $280 million term loan
and $20 million and EUR8 million in revolving credit facilities.
Borrowers on the euro facility will be Netherlands-based
subsidiaries.

The company will use proceeds from the proposed $280 million
senior secured term loan to partly fund about $90 million in
dividend and refinance existing debt.

Standard & Poor's ratings on Sonneborn reflect S&P's assessment of
the company's "weak" business risk profile, as a producer of
niche, mainly hydrocarbon-based chemicals used globally in
personal care products, food additives, and consumer goods.  They
also reflect a "highly leveraged" financial risk profile,
attributable to ownership by private equity firm One Equity
Partners.

RATING LIST

Sonneborn Holdings L.P.
Corp credit rating                            B/Stable/--

New Rating
Sonneborn LLC
Sonneborn Refined Products BV
Sonneborn Dutch Holdings BV
  $280 million proposed 1st-lien term loan    B
   Recovery rating                            3
  $20 million revolv credit facility          B
   Recovery rating                            3
  EUR8 million in revolv credit facility      B
   Recovery rating                            3


SPECIALTY HOSPITAL: General Claims Bar Date Fixed as Dec. 19
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Columbia entered a
ruling on Specialty Hospital of America LLC's motion for (I)
filing proofs of claim or interest and (II) rejection damages
claims.

Proof of claim by or behalf of any person or entity (except for
the United States Department of Health and Human Services,
including, without limitation, its Centers for Medicare and
Medicaid Services (collectively, "HHS")) asserting a claim against
the Debtors arising prior to May 21, 2014 must be filed, in
writing, so that it is actually received by December 19, 2014 at
5:00 p.m. prevailing Pacific Time.  This is referred to as the
General Bar Date.

For the avoidance of doubt, the General Bar Date applies to any
claim against Specialty Hospital of Washington, LLC ("SHDC")
arising on or after April 23, 2014 and prior to May 21, 2014 (the
"GAP Period").

Any proof of claim by or on behalf of HHS relating to claims
asserted against any Debtor on account of alleged Medicare
overpayments arising prior to May 21, 2014 must be filed, in
writing, so that it is actually received by March 31, 2015 at 5:00
p.m. prevailing Pacific Time (the "HHS Bar Date"); provided,
however, that the HHS Bar Date is subject to extension by
agreement between the Debtors and HHS. For the avoidance of
doubt, the HHS Bar Date applies to any claim asserted by HHS
against SHDC for the GAP Period.

                  About Specialty Hospital

Specialty Hospital of America LLC operates nursing home
facilities and long-term acute care hospitals.

On April 23, 2014, an involuntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 14-
10935) was filed against Specialty Hospitals of Washington, LLC
("SHDC").

Capitol Hill Group and five other alleged creditors who signed the
involuntary bankruptcy petition are represented by Stephen W.
Spence, Esq., at Phillips, Goldman & Spence, in Wilmington,
Delaware.  Capitol Hill Group claims to be owed $1.66 million on a
lease for non-residential real property while another creditor,
Metropolitan Medical Group, LLC, claims $837,000 for physician
services.  The petitioners assert $2.69 million in total claims.

On May 9, 2014, the Delaware court transferred the case to
Washington, D.C. (Bankr. D.C. Case No. 14-00279).  The Debtor
disclosed $3,120,119 in assets and $96,721,374 in liabilities as
of the Chapter 11 filing.

On May 21, 2014, SHDC filed an answer and consent for relief under
Chapter 11.  Also on May 21, six affiliates of SHDC, including
Specialty Hospital of America, LLC filed for Chapter 11
protection.  The U.S. Bankruptcy Court entered an order directing
the joint administration the cases under Specialty Hospital of
Washington, LLC, Case No. 14-00279.

The Debtors announced plans to sell all of their assets in
exchange for a $15 million debtor-in-possession loan from Silver
Point Capital, which will allow the Debtors to continue operating
through the bankruptcy process.

The Debtors are represented by Pillsbury Winthrop Shaw Pittman LLP
as counsel.  Alvarez and Marsal Healthcare Industry Group, LLC,
serves as the Debtorsv financial advisor.  Cain Brothers &
Company, LLC, is the Debtorsv investment banker.

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


SPENDSMART NETWORKS: Incurs $2.4 Million Net Loss in 3rd Quarter
----------------------------------------------------------------
Spendsmart Networks, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $2.38 million on $1.49 million of total revenues for
the three months ended Sept. 30, 2014, compared to a net loss of
$3.52 million on $230,245 of total revenues for the same period in
2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $8.17 million on $3.69 million of total revenues
compared to a net loss of $12.16 million on $772,942 of total
revenues for the same period last year.

As of Sept. 30, 2014, the Company had $12.02 million in total
assets, $1.92 million in total liabilities and $10.10 million in
total stockholders' equity.

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

                        http://is.gd/9LNVjU

                     Transition Report Filed

Spendsmart filed with the SEC its annual transition report for the
period from Sept. 30, 2013, to Dec. 31, 2013.

The Company reported a net loss and comprehensive loss of $1.92
million on $227,050 of revenues for the three months ended
Dec. 31, 2013, compared to a net loss and comprehensive loss of
$414,298 on $247,497 of revenues for the same period in 2012.

For the 12 months ended Sept. 30, 2013, the Company reported a net
loss and comprehensive loss of $12.58 million on $1.02 million of
revenues compared to a net loss and comprehensive loss of $21.09
million on $1 million of revenues for the same period in 2012.

As of Dec. 31, 2013, the Company had $709,198 in total assets,
$1.32 million in total liabilities, all current, and a $612,228 of
total stockholders' deficit.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated statements for the year ended
Dec. 31, 2013.  The independent auditors noted that the Company
has incurred net losses since inception and has an accumulated
deficit at Dec. 31, 2013.  These factors among others raise
substantial doubt about the ability of the Company to continue as
a going concern.

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

                       http://is.gd/r4jLl9

SpendSmart Networks, Inc., provides proprietary loyalty systems
and a suite of digital engagement and marketing services that help
local merchants build relationships with consumers and drive
revenues.  These services are implemented and supported by a vast
network of certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing, mobile commerce
and financial tools, such as prepaid card and reward systems.  We
enter into licensing agreements for our proprietary loyalty
marketing solution with "Certified Masterminds" which sell and
support the technology in their respective markets.  The Company's
products aim to make Consumers' dollars go further when they spend
it with merchants in the SpendSmart network of merchants, as they
receive exclusive deals, earn rewards and ultimately build a
connection with their favorite merchants.

The outlook is stable.

Summary Rating Rationale

The stable outlook and the affirmation of the Ba1 rating reflects
Saint Peter's University Hospital's (Saint Peter's) noted
improvement in financial performance and balance sheet metrics for
this specialized provider of women and children's services. A cost
reduction and revenue enhancement plan has contributed to the
performance and mitigated continuing volume declines. FY 2014 will
likely show improved debt coverage measures with adequate headroom
to the required debt service coverage covenant. Saint Peter's also
executed its strategy to forge a new academic and clinical
relationship with Rutgers Biomedical and Health Sciences Unit of
the State University as a major teaching affiliate.

These attributes are offset by Saint Peter's historical dependency
on women and children's services, ongoing litigation concerning
the Church Plan status of the frozen defined benefit pension plan
and the competitive makeup of the service area. Failure to
maintain the current improvement in performance, meet covenants or
any erosion of liquidity may lead to a rating or outlook change.

Strengths

* SPUH reported an increase in unrestricted cash and investments
   to $97 million or 88 days cash on hand as of September 30,
   2014, up from $86 million or 77 days cash at the end of FY
   2013. Cash is conservatively invested and highly liquid.

* Improvement in financial performance has been demonstrated
   through nine months ending September 30, 2014 with a 7.2%
   operating cash flow margin (from a weak 3.4% in FY 2013),
   largely due to cost reductions and increased commercial
   reimbursement rates as volumes continue to decline. A one-time
   settlement of $3.1 million for business interruption is
   included in Moody analysis and also contributed to the
   improvement.

* SPUH is one of the leading providers in the state for women's
   and children's programs, although this also presents service
   line concentration risk at 50% of volumes.

* During FY 2014, SPUH successfully executed its plan to enhance
   its role as a major academic and clinical affiliate of Rutgers
   Biomedical and Health Sciences Unit of the State University.

* The capital budget of $15 million in FY 2014 is affordable
   given the improvement in cash flow; similar spending is
   budgeted for FY 2015.

Challenges

* Moody's views the unresolved legal challenge regarding the
   Church Plan status of Saint Peter's pension plan as a credit
   risk; the plan was frozen at the end of FY 2012.

* While improved, Saint Peter's financial performance continues
   to be weak relative to other similarly-sized providers. When
   excluding the one-time business interruption payment the
   operating cash flow margin declines to 6.3% through nine
   months ending September 30, 2014.

* Expectations of reductions in state charity care funding
   starting in state fiscal year 2016 (which begins July 1,
   2015) will impact Saint Peter's, along with many other New
   Jersey hospitals. Moody's does not anticipate large upside
   benefits from the Medicaid expansion for Saint Peter's as most
   of the pediatric volumes are already enrolled in Medicaid or
   insured by a commercial carrier.

* Volumes are down through nine months ending September 30, 2014
   mainly due to the challenging winter that impacted volumes in
   the fourth quarter of 2013 and first quarter 2014.

Outlook

The stable outlook reflects Moody belief that financial
performance will show improvement in FY 2014 and into FY 2015
based on continued cost reduction strategies.

What Could Change The Rating UP

The rating could be upgraded if financial performance and balance
sheet metrics show improved results that Moody believe are
sustainable, a reduction in leverage and an innocuous resolution
to the legal challenge regarding the organization's Church Plan
status.

What Could Change The Rating DOWN

The rating could be lowered if the current improvement in
financial performance is not sustained and margins revert to FY
2013 levels and debt coverage measures weaken. Likewise, a decline
in cash or an unfavorable resolution to the Church Plan litigation
that impacts the financial position of the organizations may also
lead to a rating downgrade.

Rating Methodology

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


STELLAR BIOTECHNOLOGIES: Inks Supply Pact With Araclon Biotech
--------------------------------------------------------------
Stellar Biotechnologies and Araclon Biotech SL announced that the
companies have executed a definitive exclusive supply agreement to
meet Araclon's Phase (II and III) clinical trial requirements for
Keyhole Limpet Hemocyanin (KLH) used in Araclon's active
immunotherapies against Alzheimer's disease.

Araclon, headquartered in Spain and majority-owned by global
healthcare company Grifols, is developing beta amyloid-targeting
active immunotherapies for neurodegenerative diseases with a
primary focus on Alzheimer's disease.  Araclon's patented,
innovative technology against Alzheimer's involves immunization
against amyloid-beta together with KLH as a carrier protein.

The purpose of the agreement is to ensure a stable supply to
Araclon of Stellar KLH for the ongoing clinical development of
Araclon's Alzheimer's drugs, including the development of
manufacturing processes, production capacity and regulatory
support.  Under the agreement, Araclon will manage and fund all
product development and regulatory submissions for its products.
Stellar will supply GMP-grade Stellar KLH protein and will provide
technical and regulatory support to Araclon.

The agreement requires Stellar to deliver the first batch of
Stellar KLH to Araclon by Dec. 31, 2014.  Araclon and Stellar have
entered into a mutually exclusive contract for the supply of KLH
for Araclon's beta amyloid peptide in the Alzheimer's space
throughout the term of the agreement for use in Araclon's upcoming
clinical trials with an active immunotherapy against Alzheimer's
disease at agreed prices.  Stellar and Araclon have agreed upon
first negotiation rights for the exclusive supply of Stellar KLH
in connection with the potential future commercialization by
Araclon of its beta amyloid-targeting immunotherapy products.  The
agreement has an initial five-year term, which may be renewed by
Araclon, if necessary, for additional one-year periods.

"This new collaboration with Araclon Biotech is an excellent
demonstration of Stellar's core business model which is to partner
with the companies and organizations developing the many KLH-based
immunotherapies now in clinical development," said Frank Oakes,
president and CEO of Stellar Biotechnologies, Inc.  "Stellar has
the technology to deliver a reliable source of KLH today that can
also be scaled up sustainably to address the industry's future KLH
demand as promising immunotherapy products reach commercial
markets."

"An agreement with Stellar Biotechnologies is very important to
Araclon.  A stable supply of GMP grade KLH is needed to advance in
our Alzheimer's immunotherapy program through Phase II and III
clinical trials," commented a source at Araclon.

                           About Stellar

Port Hueneme, Cal.-based Stellar Biotechnologies, Inc.'s
business is to commercially produce and market Keyhole Limpet
Hemocyanin ("KLH") as well as to develop new technology related to
culture and production of KLH and subunit KLH ("suKLH")
formulations.  The Company markets KLH and suKLH formulations to
customers in the United States and Europe.

KLH is used extensively as a carrier protein in the production of
antibodies for research, biotechnology and therapeutic
applications.

Stellar Biotechnologies reported a net loss of $8.43 million on
$372,132 of total revenues for the year ended Aug. 31, 2014,
compared to a net loss of $14.49 million on $545,469 of total
revenues for the year ended Aug. 31, 2013.  The Company also
reportd a net loss of $5.52 million for the year ended Aug. 31,
2012.


SUMMIT STREET: Schedules and Statement Due Dec. 5
-------------------------------------------------
Summit Street Development Company, LLC's schedules of assets and
liabilities and statement of financial affairs are due Dec. 5,
2014, according to the case docket.

The Debtor estimated $10 million to $50 million in assets and less
than $10 million in debt.

Summit Street filed a bare-bones Chapter 11 bankruptcy petition
(Bankr. W.D. Mich. Case No. 14-07339) in Grand Rapids, Michigan,
on Nov. 21, 2014.  The case is assigned to Judge John T. Gregg.
Ryan D. Heilman, Esq., at Wolfson Bolton PLLC, in Troy, Michigan,
serves as counsel.

Harry H. Hepler, the managing member and holder of 86.699 of the
membership interests, signed the petition.


SUMMIT STREET: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Summit Street Development Company, LLC
        P.O. Box 12147
        Lansing, MI 48901

Case No.: 14-07339

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 21, 2014

Court: United States Bankruptcy Court
       Western District of Michigan (Grand Rapids)

Judge: Hon. John T. Gregg

Debtor's Counsel: Ryan D. Heilman, Esq.
                  WOLFSON BOLTON PLLC
                  3150 Livernois, Suite 275
                  Troy, MI 48083
                  Tel: 248-247-7070
                  Email: rheilman@wolfsonbolton.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Harry H. Hepler, managing member.

List of Debtor's seven Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Block Sloane, LLC                                       $2,229

C2AE                                                    $9,760

Eradico                                                   $119

JDH Structural Engineering                              $5,700

R&M Buildign Systems                                    $5,828

Scotts Lawnservice                                      $1,871

United Electric                                         $4,055


TECHPRECISION CORP: Incurs $649,000 Net Loss in Second Quarter
--------------------------------------------------------------
Techprecision Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $648,770 on $4.57 million of net sales for the three
months ended Sept. 30, 2014, compared to a net loss of $818,670 on
$5.19 million of net sales for the same period in 2013.

For the six months ended Sept. 30, 2014, the Company reported a
net loss of $1.91 million on $10.80 million of net sales compared
to a net loss of $2.24 million on $12.29 million of net sales for
the same period a year ago.

As of Sept. 30, 2014, the Company had $14.81 million in total
assets, $12.99 million in total liabilities and $1.82 million in
total stockholders' equity.

"At September 30, 2014, we had cash and cash equivalents of
$849,264, of which $15,613 is located in China and may not be able
to be repatriated for use in the U.S. without undue cost or
expense, if at all.  Our cash and cash equivalents total includes
$180,000 of restricted cash with the Bank that may be available
toward funding operating activities with the Bank's approval.  We
have incurred a net loss of $0.6 million and $1.9 million for the
three months and six months ended September 30, 2014,
respectively.

"These factors raise substantial doubt about our ability to
continue as a going concern.  In order for us to continue
operations beyond the next twelve months and be able to discharge
our liabilities and commitments in the normal course of business,
we must secure long-term financing on terms consistent with our
business plans."

Leonard Anthony, Chairman of TechPrecision Board commented, "In
the short time with the company as President of the Ranor
division, Alex has made significant progress in rebuilding
customer and supply chain relationships, improving operating
results, and implementing sound operational and fiscal management
practices.  Alex continues to demonstrate the capability to
achieve a successful turnaround of Ranor and to position TPCS for
accelerating growth.  The Board unanimously believes he is the
right person to lead TechPrecision going forward."

"While our sales volume during the second quarter remained low
relative to Ranor's capacity, reported gross margin improved over
last year's second quarter and the first quarter of this year.
The path forward is clear in our plan to return Ranor to
profitability with disciplined and sustainable actions already
underway," commented Mr. Shen.

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

                       http://is.gd/oQuseL

                      About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly
owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical
Components Co., Ltd., globally manufactures large-scale, metal
fabricated and machined precision components and equipment.

TechPrecision reported a net loss of $7.09 million on $21.06
million of net sales for the year ended March 31, 2014, as
compared with a net loss of $2.41 million on $32.47 million of net
sales for the year ended March 31, 2013.

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the
year ended March 31, 2013.  The independent auditors noted that
the Company was not in compliance with the fixed charges and
interest coverage financial covenants under their credit facility,
and the Bank has not agreed to waive the non-compliance with the
covenants.  Since the Company is in default, the Bank has the
right to accelerate payment of the debt in full upon 60 days
written notice.  The Company has suffered recurring losses from
operations, and the Company's liquidity may not be sufficient to
meet its debt service requirements as they come due over the next
twelve months.  These circumstances raise substantial doubt about
the Company's ability to continue as a going concern.


TECHPRECISION CORP: Appoints Alexander Shen as CEO
--------------------------------------------------
The Board of Directors of TechPrecision Corporation appointed
Alexander Shen, president of Ranor, Inc., a wholly-owned
subsidiary of the Company, to serve as the Company's chief
executive officer, effective Nov. 17, 2014.

Leonard Anthony will step down as the Company's executive chairman
(a position that combined the role of principle executive officer
and Chairman of the Board) but will retain his position as a
director and Chairman of the Board.  In addition to his
appointment as the Company's chief executive officer, Mr. Shen
will retain his position as president of Ranor.

Mr. Shen, age 52, has served as president of Ranor since June 23,
2014.  Mr. Shen has experience in a broad range of industries
including metal fabrication, automotive, contract manufacturing,
safety and security, and industrial distribution.  Prior to
joining Ranor, Mr. Shen served as president of SIB Development and
Consulting in 2013, a firm specializing in fixed, monthly cost
reduction.  Prior to January 2013, Mr. Shen served as president of
Tydenbrooks Security Products Group, a security products company,
from July 2011 to December 2012.  Prior to 2011, Mr. Shen served
as president and CEO of Burgon Tool Steel Company between April
2009 and June 2011, and served as CEO of Ryerson Mexico & Vice
President - International for Ryerson, Inc., a multi-national
distributor and processor of metals, from 2007 to 2009.  Prior to
2007, Mr. Shen was division general manager & COO at Sumitomo
Electric Group from 1998 to 2007, focused on automotive electrical
and electronic products.  Prior to 1998 he had a 10-year career at
the Automotive Division of Alcoa Inc. with roles of increasing
responsibility.  Mr. Shen began his career with General Motors,
moving to Chrysler, before joining Alcoa Inc.  His career includes
multiple international management roles in Japan, China, Mexico,
and Europe, and he is fluent in the Chinese and Japanese languages
and cultures.  Mr. Shen holds a B.S. in Engineering from Michigan
State University.

Pursuant to the employment agreement, Mr. Shen will:

   (i) receive an annual base salary of $275,000;

  (ii) subject to approval by the Compensation Committee of the
       Board, receive an award of stock options to purchase
       1,000,000 shares of the Company's common stock, granted
       pursuant to the TechPrecision Corporation 2006 Long-Term
       Incentive Plan, as amended, with an exercise price equal to
       the fair market value of the common stock on the grant date
       and which will vest in substantially equal amounts on the
       date of initial grant and each of the subsequent two
       anniversaries of the date of grant; and

(iii) be eligible for an annual cash performance bonus of up to
       60% of base salary, subject to goals and objectives set by
       the Board of Directors of the Company.

Under the Employment Agreement, Mr. Shen also will be eligible to
participate in the Company's benefits provided to other senior
executives as well as benefits available to Company employees
generally.

The Employment Agreement, and certain terms therein, supersedes
and replaces in its entirety the Employment Agreement dated
June 23, 2014, with Ranor.

                       About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly
owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical
Components Co., Ltd., globally manufactures large-scale, metal
fabricated and machined precision components and equipment.

TechPrecision reported a net loss of $7.09 million on $21.06
million of net sales for the year ended March 31, 2014, as
compared with a net loss of $2.41 million on $32.47 million of net
sales for the year ended March 31, 2013.

The Company's balance sheet at March 31, 2014, showed $16.97
million in total assets, $13.44 million in total liabilities and
$3.53 million in total stockholders' equity.

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the
year ended March 31, 2013.  The independent auditors noted that
the Company was not in compliance with the fixed charges and
interest coverage financial covenants under their credit facility,
and the Bank has not agreed to waive the non-compliance with the
covenants.  Since the Company is in default, the Bank has the
right to accelerate payment of the debt in full upon 60 days
written notice.  The Company has suffered recurring losses from
operations, and the Company's liquidity may not be sufficient to
meet its debt service requirements as they come due over the next
twelve months.  These circumstances raise substantial doubt about
the Company's ability to continue as a going concern.


TEXOMA PEANUT: $12.7 Million Loan Requires Auction by Dec. 17
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the $12.7 million postpetition financing
secured by Texoma Peanut Co. requires the company to hold an
auction and sell its business by Dec. 17.  According to the
report, the DIP loan from existing secured lender Wells Fargo Bank
NA requires the Company to obtain approval of auction and sale
procedures by Nov. 24.

                        About Texoma Peanut

Texoma Peanut Company was incorporated by Clint Williams in 1961
as a Southern Oklahoma bulk peanut drying, handling and storage
operation, buying and storing peanuts for shellers.  In 1968, The
Clint Williams Company was established as a sheller and processor
of peanuts for both seed and edible markets.  Although The Clint
Williams Company was later merged into TPC, the company continues
to do its processed peanut business under the "Clint Williams
Company" name which is the name known best in the domestic and
international peanut industry.  TPC and its subsidiaries own 15
buying points and storage facilities -- 4 in Oklahoma, 9 in Texas,
and 2 in Mississippi.  TPC owns 99% of Clint Williams Company-
Western Division LLC and 100% of Clint-Co Peanut Company.

TPC and two subsidiaries sought Chapter 11 bankruptcy protection
(Bankr. E.D. Okla. Lead Case No. 14-81334) in Okmulgee, Oklahoma,
on Nov. 6, 2014.  The cases are assigned to Judge Tom R. Cornish.
The judge has granted joint administration of the Chapter 11
cases.

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due March 6, 2015.  Creditors who are
governmental entities have until May 9, 2015, to file claims.

The Debtors have tapped Crowe & Dunlevy as counsel and Dixon
Hughes Goodman as bankruptcy accountants.

The Debtors say they have $49 million in assets.  Secured debt
includes $3.45 million owed to Wells Fargo Bank, N.A., and $2.33
million owed to Wells Fargo Equipment Finance.   Wells Fargo Bank
is represented by William L. Wallander, Esq., at VINSON & ELKINS
LLP, in Dallas, Texas.

As of the Petition Date, an official committee of unsecured
creditors has not yet been appointed in the Cases.

The Debtors sought bankruptcy for protection with plans to sell
all of their core business assets and, thereafter, file a joint
plan of reorganization.  The Debtors expect that by Nov. 24, 2014,
they will have obtained a court order approving the bid procedures
and scheduling an auction date and final sale hearing.  The
Debtors intend to consummate the sale on or prior to Dec. 31,
2014.


TEXOMA PEANUT: To Auction Clarksdale Facility in December
---------------------------------------------------------
Jesse Wright at The Clarksdale Press Register reports that Texoma
Peanut Company said it will auction off its peanut drying facility
in Clarksdale, Mississippi, including all Texoma properties,
starting next month.

There is a chance the local peanut drying facility will not close
down, according to a press released written by company vice-
president Steve Ortloff.

Mr. Ortloff said in the news release that this boom-and-bust cycle
was in part to blame for the Company's financial woes.  The
Associated Press relates that in addition to the decline in peanut
planting, The Clint Williams facility also suffered damages from a
fire in February 2013.

                        About Texoma Peanut

Texoma Peanut Company was incorporated by Clint Williams in 1961
as a Southern Okalhoma bulk peanut drying, handling and storage
operation, buying and storing peanuts for shellers.  In 1968, The
Clint Williams Company was established as a sheller and processor
of peanuts for both seed and edible markets.  Although The Clint
Williams Company was later merged into TPC, the company continues
to do its processed peanut business under the "Clint Williams
Company" name which is the name known best in the domestic and
international peanut industry.  TPC and its subsidiaries own 15
buying points and storage facilities -- 4 in Oklahoma, 9 in Texas,
and 2 in Mississippi.  TPC owns 99% of Clint Williams Company-
Western Division LLC and 100%of Clint-Co Peanut Company.

TPC and two subsidiaries sought Chapter 11 bankruptcy protection
(Bankr. E.D. Okla. Lead Case No. 14-81334) in Okmulgee, Oklahoma,
on Nov. 6, 2014.  The cases are assigned to Judge Tom R. Cornish.
The judge has granted joint administration of the Chapter 11
cases.

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due March 6, 2015.  Creditors who are
governmental entities have until May 9, 2015, to file claims.

The Debtors have tapped Crowe & Dunlevy as counsel and Dixon
Hughes Goodman as bankruptcy accountants.

The Debtors say they have $49 million in assets.  Secured debt
includes $3.45 million owed to Wells Fargo Bank, N.A., and $2.33
million owed to Wells Fargo Equipment Finance.   Wells Fargo Bank
is represented by William L. Wallander, Esq., at VINSON & ELKINS
LLP, in Dallas, Texas.

As of the Petition Date, an official committee of unsecured
creditors has not yet been appointed in the Cases.

The Debtors sought bankruptcy for protection with plans to sell
all of their core business assets and, thereafter, file a joint
plan of reorganization.  The Debtors expect that by Nov. 24, 2014,
they will have obtained a court order approving the bid procedures
and scheduling an auction date and final sale hearing.  The
Debtors intend to consummate the sale on or prior to Dec. 31,
2014.


TRIZETTO CORP: S&P Withdraws 'B-' CCR Following Acquisition
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew the ratings on
TriZetto Corp., including the 'B-' corporate credit rating.

On Nov. 20, 2014, Cognizant Technology Solutions Corp. announced
that it had completed its acquisition of TriZetto Corp.  As part
of the transaction, the debt S&P rated at TriZetto was repaid.  As
a result, S&P has withdrawn the corporate credit rating and debt
ratings on TriZetto Corp.


TRUMP ENTERTAINMENT: Hearing on Ch 7 Conversion Set for Dec. 4
--------------------------------------------------------------
Wayne Parry at The Associated Press reports that the U.S.
Bankruptcy Court for the District of Delaware has scheduled for
Dec. 4, 2014, a hearing on whether Trump Entertainment Resorts
Inc.'s Chapter 11 case should be converted to one under Chapter 7
liquidation.

Trump Entertainment has said it will close the casino Dec. 12,
2014, The AP relates.

                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.

The U.S. Trustee for Region 3 on Sept. 23 appointed seven
creditors of Trump Entertainment Resorts, Inc., to serve on the
official committee of unsecured creditors.  The Committee tapped
Gibbons P.C. as its co-counsel, the Law Office of Nathan A.
Schultz, P.C., as co-counsel, and PricewaterhouseCoopers LLP as
its financial advisor.


UC HOLDINGS: S&P Withdraws 'B-' CCR on Lack of Sufficient Info.
---------------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its 'B-'
corporate credit rating on Southfield, Mich.-based auto supplier
UC Holdings Inc. and all associated debt ratings.

S&P withdrew its ratings on the company because of a lack of
sufficient information to perform its surveillance of S&P's
published ratings.


UNITEK GLOBAL: Technicians Say DirectSat, DirecTV Underpaid Them
----------------------------------------------------------------
Molly Willms at Courthouse News Service reports that technicians
claim that DirectSat USA LLC, is owned by UniTek Global Services
Inc., and DirecTV treat them as employees but classify them as
independent contractors to get away with wrongly underpay them.

DirectSat is one of several companies with direct control over the
hiring, firing and pay of technicians who install DirecTV systems.

Citing Marquette University professor Ralph Anzivino, Courthouse
News states that a court is likely to enjoin any claims against
DirectSat, while the restructuring is ongoing.  According to
Courthouse News, Mr. Anzivino said that claims against DirectSat
would be settled as part of the bankruptcy proceedings.

Mr. Anzivino said that the bankruptcy is unlikely to have any
effect on DirecTV in the labor litigation, Courthouse News
relates.

                  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.

On Nov. 3, 2014 UniTek Global and nine subsidiary companies filed
petitions in the United States Bankruptcy Court for the District
of Delaware seeking relief under chapter 11 of the United States
Bankruptcy Code.  The Debtors' cases have been assigned to Judge
Judge Peter J. Walsh. The Debtors are seeking to have their cases
jointly administered for procedural purposes, with pleadings to be
maintained on the case docket for UniTek Global Services, Inc.,
Case No. 14-12471.

The Debtors have tapped Morgan, Lewis & Bockius LLP as counsel;
Young, Conaway, Stargatt & Taylor, LLP, as co-counsel; Miller
Buckfire & Co. LLC, as financial advisor; Protiviti Inc., and Epiq
Bankruptcy Solutions, LLC, as claims and noticing agent.

As of Sept. 30, 2014, the Debtors have 2,500 employees,
substantially all of whom are full-time.

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 $250 million
in total assets against $257 million in total liabilities.


USMART MOBILE: Reports Profit of $12.7 Million Third Quarter
------------------------------------------------------------
USmart Mobile Device Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $12.67 million on $0 of net sales for the three
months ended Sept. 30, 2014, compared to a net loss of $6.44
million on $19.85 million of net sales for the same period in
2013.

As of Sept. 30, 2014, the Company had $128 in total assets,
$409,311 in total liabilities and a $409,183 total stockholders'
deficit.

On Sept. 28, 2012, the Company completed its acquisition of 100%
equity interest of Jussey Investments Limited, a company
incorporated in British Virgin Islands, for aggregate purchase
consideration of approximately US$2,150,000.  Jussey owns 100%
equity interest in eVision Telecom Limited, a Hong Kong
incorporated company, and 80% equity interest in USmart Electronic
Products Limited, a Hong Kong incorporated company. Jussey
indirectly owns 80% of Dongguan Kezheng Electronics Limited, a
wholly foreign-owned enterprise organized under the laws of the
PRC by UEP.

Through the acquisition, the Company has diversified its product
portfolio, enhanced its distributor role to a Research and Develop
manufacturer with its own products and brands, entered the
telecommunication industry, gained access to the 3G baseband
licenses, and design and manufacturing matrix and facility.

The Company accounted for this acquisition of Jussey and its
subsidiaries by acquisition method of accounting.  The balance
sheet items were stated at fair value.  The fair value was
accounted upon the issuance of fair value report from an
independent valuator engaged for this acquisition.

"As of September 30, 2014, the Company has total net current
liabilities of $409,183.  This raises substantial doubt about the
Company's ability to continue as a going concern.  We will
continue to seek additional sources of available financing on
acceptable terms; however, there can be no assurance that we will
be able to obtain the necessary additional capital on a timely
basis or on acceptable terms, if at all.  In addition, if the
results are negatively impacted and delayed as a result of
political and economic factors beyond management's control, our
capital requirements may increase."

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

                       http://is.gd/ffTiho

                           Late Report

USmart Mobile earlier filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Sept. 30, 2014.

"We are unable to file our Form 10-Q for the period ended
September 30, 2014 on a timely basis due to the Company requiring
additional time to work internally with its staff to prepare and
finalize the Quarterly Report."


                       About USmart Mobile

Del.-based USmart Mobile, previously known as ACL Semiconductors
Inc., is engaged in the production, manufacturing and distribution
of smartphones, electronic products and components in Hong Kong
Special Administrative Region and the People's Republic of China
through its operating subsidiaries.

USmart Mobile reported a net loss of $13.8 million on $72.2
million of net sales for the year ended Dec. 31, 2013, as compared
with a net loss of $4.86 million on $161 million of net sales for
the year ended Dec. 31, 2012.

Albert Wong & Co. 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's financial statements are prepared using the generally
accepted accounting principles applicable to a going concern,
which contemplates the realization of assets and liquidation of
liabilities in the normal course of business.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.


VALEANT PHARMACEUTICALS: Moody's Affirms Ba3 Corp. Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Valeant
Pharmaceuticals International, Inc., including the Ba3 Corporate
Family Rating, Ba3-PD Probability of Default Rating, Ba1 senior
secured ratings, and B1 senior unsecured ratings. At the same
time, Moody's revised Valeant's rating outlook to stable from
developing.

This rating action follows recent developments in Valeant's offer
to acquire Allergan, Inc., including the announcement that
Allergan has entered into a definitive merger agreement with
Actavis, Inc.  This was followed recently by Valeant's formal
cancellation of its offer.

Ratings affirmed:

Valeant Pharmaceuticals International, Inc.:

Ba3 Corporate Family Rating

Ba3-PD Probability of Default Rating

Ba1 (LGD2) senior secured term loans and revolving credit
agreement

B1 (LGD5) senior unsecured notes

SGL-1 Speculative Grade Liquidity Rating

Valeant Pharmaceuticals International:

B1 (LGD5) senior unsecured notes

The stable outlook represents Moody's expectations that Valeant's
future acquisitions can likely be accommodated within the current
rating level based on the willingness and ability to reduce
debt/EBITDA to approximately 4.0 times. Any transformative
acquisitions that significantly improve Valeant's scale and
diversity without materially increasing leverage could have
positive credit implications, but Moody's will assess such a deal
if it materializes.

Ratings Rationale

Valeant's Ba3 Corporate Family Rating reflects its medium albeit
growing scale in the global pharmaceutical industry, its strong
diversity, its high profit margins, and its good cash flow. The
ratings are also supported by low exposure to patent cliff risks,
good near-term organic growth , and a successful acquisition track
record. The rating also reflects the risks associated with an
aggressive acquisition strategy, including moderately high
financial leverage, integration risks, rapid capital structure
changes, and reliance on cost synergies. Valeant's debt/EBITDA
measured approximately 4.0 times as of September 30, 2014.
Notwithstanding successful deleveraging over the past 12 months,
Moody's anticipates that Valeant's acquisition strategy will often
keep debt/EBITDA elevated above this level. In addition, it may be
challenging to sustain solid organic top-line growth after the
initial benefits of an acquisition, e.g. price increases and
product launches, given that Valeant significantly downsizes the
R&D function of acquired companies.

The rating outlook is stable. Valeant's ratings could be upgraded
if Moody's believes debt/EBITDA will be sustained below 4.0 times
while maintaining good organic growth. Conversely, Valeant's
ratings could be downgraded if Moody's believe debt/EBITDA will be
sustained above 5.0 times or if other risk factors emerge, such as
litigation or regulatory compliance issues.

The principal methodology used in these ratings was Global
Pharmaceutical Industry published in December 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 Laval, Quebec, Valeant Pharmaceuticals
International, Inc. is a global specialty pharmaceutical company
with expertise in branded dermatology, eye health, neuroscience
products, branded generics and OTC products. Valeant generated
$8.0 billion in revenues during the 12 months ended September 30,
2014.


VARIANT HOLDING: Gets Interim OK to Obtain $10-Mil. Financing
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Variant Holding Company, LLC, on an interim basis, to obtain
postpetition financing in the form of a senior secured
superpriority term loan in an aggregate principal amount of
$10,000,000, with $3,000,000 available on an interim basis for a
period through and including the date of the final hearing from
BPC VHI, L.P., Beach Point Total Return Master Fund, L.P. and
Beach Point Distressed Master fund, L.P., through Cortland Capital
Market Services LLC as administrative agent for the Beach Point
Funds.

The Court also granted security interests and superpriority
administrative expense claim status, and authorized the Debtor to
use cash collateral.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.


VARIANT HOLDING: Wins OK of Deal to Resolve Beach Point Disputes
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
Variant Holding Company, LLC's settlement resolving disputes with
Beach Point Capital Management LP.

Objections to the settlement, to the extent not withdrawn, are
overruled.  As previously reported by The Troubled Company
Reporter, citing Bloomberg, the approval came over the objections
from the U.S. Trustee, who argued that the settlement didn't cure
the "impropriety" of hiring a Variant-selected chief restructuring
officer in lieu of an independent Chapter 11 trustee to replace
management, and other creditors.

Except as between the parties to the Settlement Agreement only,
nothing in the order approving the settlement or any contract and
document will impair or alter the contractual rights and remedies
of the IMH Parties and Wells Fargo Bank, N.A., as Trustee for the
registered holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2006-C4, acting through Situs Holdings LLC in its capacity
as special servicer, in any respect concerning any of the Debtor's
subsidiaries.

IMH Financial Corporation, Holder, Trust and Situs will receive
the same notice provided to the Beach Point Funds pursuant to the
Subsidiary Transaction Protocol set forth in the Settlement
Agreement for any of the FX3 Properties.

Impact Floors of Texas, L.P., will receive the same notice
provided to the Beach Point Funds for those properties identified
in Impact's statement/reservation of rights.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.


VARSITY BRANDS: S&P Assigns 'B' CCR & Rates $120MM Facility 'BB-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to Indiana-based Varsity Brands Holding
Co. Inc.  The rating outlook is stable.

At the same time, S&P assigned its 'BB-' issue-level rating and
'1' recovery rating to the company's proposed $120 million ABL
revolving credit facility due 2019.  The '1' recovery rating
indicates S&P's expectation for very high recovery (90%-100%) of
principal for debtholders in the event of default.

S&P also assigned its 'B+' issue-level rating and '2' recovery
rating to the company's proposed $755 million senior secured term
loan B due 2021.  The '2' recovery rating indicates S&P's
expectation for substantial recovery (70%-90%; the low end of the
range) of principal in the event of a payment default.

In addition, S&P assigned its 'CCC+' issue-level rating and '6'
recovery rating to the company's proposed $330 million second-lien
loan due 2022.  The '6' recovery rating indicates S&P's
expectation for negligible recovery (0%-10%) of principal in the
event of default.

Varsity Brands Holding and Hercules Achievement Inc. are
coborrowers under the asset-based and senior secured term loans.

"The 'B' corporate credit rating on Varsity Brands Holding
reflects the company's leadership position, albeit in fragmented
and competitive markets," said Standard & Poor's credit analyst
Jawad Hussain.  The rating also reflects the company's "highly
leveraged" financial risk profile, which results from the
increased debt in the capital structure due to Charlesbank Capital
Partners LLC and Partners Group AG's proposed acquisition of the
company.

The stable outlook reflects S&P's expectation that the company's
debt leverage will steadily decline, but remain above 5x over the
next one to two years.  S&P also expects the company to continue
to increase organic revenue at a mid-single-digit percentage rate
and EBITDA at a high-single-digit percentage rate, while
maintaining adequate liquidity and generating positive
discretionary cash flow.

S&P could raise the rating if the company delivers stronger-than-
expected organic operating performance and gives strong
indications that it will have sustained expansion in EBITDA margin
above 15%.  This would entail management improving its EBITDA
margin in the achievement segment, which has a significantly lower
EBITDA margin than peers.  An upgrade would also entail a
commitment from management to maintain a financial policy where
lease-adjusted leverage remains at or below 5x on a sustained
basis.

S&P could lower the rating over the next two years if a structural
demand shift causes S&P to reassess the company's business
prospects.  This could occurs if, among other things, a faster-
than-expected decline in the achievement segment or reduced school
funding hurt the spirit and sports segments, resulting in lease-
adjusted leverage rising above 7x.


VB WILIKINA: S&P Raises Rating on 2012A Housing Bonds to 'BB+'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term rating to
'BB+' from 'BB' and removed the rating from CreditWatch with
developing implications on the Hawaii Housing Finance &
Development Corp.'s series 2012A multifamily housing revenue
bonds, issued on behalf of VB Wilikina LP (Wilikina Apartments
Project).  The outlook is stable.

"The rating reflects our view of the project's significantly
improved occupancy and strong demand for units as evidenced by a
large waitlist," said Standard & Poor's credit analyst Andrew
Fong.  "Further supporting the rating is of the project's ability
to increase rents," Mr. Fong added.

The project, Wilikina Apartments, is a 119-unit (117 of which are
HUD approved), 10-story apartment building located in Wahaiwa, on
the island of Oahu, Hawaii.  It was originally constructed in 1978
as a residential rental facility.


VISION INDUSTRIES: May Exit Ch 11 a Profitable Co., Report Says
---------------------------------------------------------------
James Elliot at Microcap Daily reports that the chance that Vision
Industries Corp. would emerge from bankruptcy a profitable entity
is a very real possibility.

Microcap Daily says the stock made a spectacular run back in
September from subs to highs over $0.04 per share.

Microcap Daily relates that the Company's truck Tyrano is a green
technology with cost savings on a per mile basis versus diesel and
natural gas, expected to be around 35% to 45%, and is the kind of
technology investors like to and will invest in.

                     About Vision Industries

Long Beach, Cal.-based Vision Industries Corp. focuses its
efforts in building Class 8 fuel cell electric vehicles (FCEV)
used in drayage transportation.

Vision Industries Corp. filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Cal. Case No. 14-28225) on Sept. 24, 2014.  The
petition was signed by Jerome Torresyap as president/COO.  The
Debtor disclosed total assets of $1.34 million and total
liabilities of $3.18 million.  Marshack Hays LLP serves as the
Debtor's counsel.  The case is assigned to Judge Robert N. Kwan.

+' from 'BBB-' on Washington State Housing Finance Commission's
existing debt issued for Wesley Homes Inc.  The outlook is stable.

"The lowered rating reflects Wesley's weak operating performance
over the past few years," said Standard & Poor's credit analyst
Geraldine Poon.  "While overall occupancy has improved slightly
from the prior year, it remains below budget."

Management has been working to improve operations; for example,
the recently introduced monthly rental model at the Des Moines
campus has aided revenue growth.  Management also plans to control
costs through reduction of full-time equivalents (FTEs).  Although
operating liquidity continues to provide a financial cushion, S&P
considers the continued weaker operating results a significant
credit risk.  In addition, a recent increase in debt further
strains the financial profile, and there are also possible
additional capital and debt plans.

Wesley Homes has two main Washington facilities, one in Auburn and
one in Des Moines.  It targets a middle-income market and believes
this underserved niche is capable of supporting additional growth
in the future.


WESLEY HOMES: S&P Lowers Long-Term Rating to 'BB+'
--------------------------------------------------
Standard & Poor's Rating Services lowered its long-term rating and
underlying rating (SPUR) to 'BB+' from 'BBB-' on Washington State
Housing Finance Commission's existing debt issued for Wesley Homes
Inc.  The outlook is stable.

"The lowered rating reflects Wesley's weak operating performance
over the past few years," said Standard & Poor's credit analyst
Geraldine Poon.  "While overall occupancy has improved slightly
from the prior year, it remains below budget."

Management has been working to improve operations; for example,
the recently introduced monthly rental model at the Des Moines
campus has aided revenue growth.  Management also plans to control
costs through reduction of full-time equivalents (FTEs).  Although
operating liquidity continues to provide a financial cushion, S&P
considers the continued weaker operating results a significant
credit risk.  In addition, a recent increase in debt further
strains the financial profile, and there are also possible
additional capital and debt plans.

Wesley Homes has two main Washington facilities, one in Auburn and
one in Des Moines.  It targets a middle-income market and believes
this underserved niche is capable of supporting additional growth
in the future.


WEST TEXAS GUAR: Reorg. Plan OK'd; To Exit Ch 11 as Guar Resources
------------------------------------------------------------------
The Honorable Robert L. Jones of the U.S. Bankruptcy Court for the
Northern District of Texas approved on Nov. 20, 2014, West Texas
Guar, Inc.'s reorganization plan.

The plan, which received near unanimous approval by creditors,
calls for the sale of the Company and settlement of all
outstanding claims.  The proposed effective date is Dec. 1, 2014,
when it will change its name to Guar Resources LLC.  WTG has been
in Chapter 11 bankruptcy since April 25, 2014.

Under the reorganization plan, majority ownership of the Company
is being sold to Cor Capital Group LLC.  "This sale provides the
company with the opportunity to continue to execute its business
plan on a stronger financial footing, maintains operations,
preserves 25 local jobs, and improves the firm's balance sheet to
facilitate much needed plant improvements and future growth," said
Edgar Montalvo, the Company's chief restructuring officer who took
control of management of the Company just prior to the bankruptcy
filing in April.  Mr. Montalvo has previous experience in managing
the construction of a guar gum facility in India and will remain
on after reorganization to supervise company operations and its
capital investment program.

West Texas Guar's plant located in Brownfield, Texas, is the only
domestic guar bean processing facility currently in operation.
Guar has unique thickening and binding qualities and is used in
the food and cosmetic industries, the paper and textile
industries, and also as a key ingredient in hydraulic fracturing.
With a new management team in place, a new name, and a renewed
focus on providing customer service to its industrial customers
and being a reliable partner to the agriculture community, the
soon to be named Guar Resources LLC looks forward to years of
prosperous growth.  Farmers interested in growing guar are invited
to contact the Company directly at (806) 637-4662, as it will
start accepting contracts in Mid-December for the 2015 harvest.

                      About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on March
14, 2014, against West Texas Guar Inc.  The farmers claim they are
owed nearly $4 million for seed they've delivered on the 2013
harvest but haven't been paid for.  Guar is a seed crop that has a
variety of uses in human and animal food production, textiles and
fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,
Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in
Dallas, Texas.  The Debtor disclosed in amended schedules
$19,226,923 in assets and $29,331,352 in liabilities as of the
Chapter 11 filing.

WTG and Scopia Windmill Fund LP filed a Joint Plan of
Reorganization and Disclosure Statement on Aug. 25, 2014.  On
Sept. 23, WTG filed a Second Amended Joint Plan.  In support of
the plan, Scopia Windmill Fund LP, Scopia Capital Management LLC,
Scopia Holdings LLC, Corcapital Group LLC, and the Debtor executed
the attached Term Sheet for Proposed Purchase/Restructuring
Transaction that provides the basic terms for a transaction that
would be implemented through a confirmed plan of reorganization
for the Debtor.

The capital structure of the reorganized Debtor is Senior Secured
Term Loan of $8 million and Junior Secured Term Loan of $1.5
million, both of which will be issued by Scopia, and CorCapital
Preferred Interests of $7.1 million.  10% of the outstanding
fully-diluted total common interest of the Reorganized Debtor will
be issued to Scopia in full and complete satisfaction of Scopia's
claims against the Debtor in the amount of approximately $6
million plus accrued interest.  As additional consideration for
providing the $8 million Senior Secured Term Loan, Scopia will be
provided with warrants exercisable for 12% of the fully diluted
total common interests of Reorganized WTG at a price of $l.


WOODSIDE HOMES: S&P Keeps B Note Rating Over $30-Mil. Notes Add-on
------------------------------------------------------------------
Standard & Poor's Ratings Services said its 'B' issue-level rating
on Woodside Homes Co. LLC's and Woodside Homes Finance Inc.'s $270
million unsecured senior notes (which includes the original $220
million issued in Aug. 2013 and the $50 million additional
principal issued in April 2014) is unchanged by the company's
proposed $30 million add-on to the notes.  The recovery rating of
'2', indicating S&P's expectation for a substantial (70% to 90%)
recovery in the event of default, is also unchanged.  S&P expects
the company to use proceeds largely for future land acquisition
and development, as well as general corporate purposes.  The 'B-'
corporate credit rating on Woodside remains unchanged.  The
outlook is stable.

The ratings on Woodside reflect S&P's view of the company's
"vulnerable" business risk profile and "aggressive" financial risk
profile.  Relative to its rated peers, Woodside operates on a
smaller, more geographically concentrated platform, with the
majority of its revenues derived from California markets in 2013.
S&P's financial risk profile assessment is constrained due to the
company's ownership by a financial sponsor, which S&P do not
expect to change.  Although debt will increase with the proposed
issuance, S&P's forecast shows improvements for the company's
credit measures in 2015, driven by community count growth in the
midst of a continued recovery in the U.S. housing market.  S&P
projects adjusted debt to EBITDA of 5.0x for fiscal 2014, pro
forma for the proposed issuance, improving to 4.2x in 2015.

Ratings List

Woodside Homes Co. LLC
Corporate Credit Rating                     B-/Stable/--

Rating Unchanged

Woodside Homes Co. LLC
Woodside Homes Finance Inc.
$300 mil unsecd sr nts*                     B

*Includes the $30 mil add-on.


* Distress Levels of Major Public Cos. in Restaurant Sector Down
----------------------------------------------------------------
With only a little over a month remaining in 2014, profit-margin
pressures remain on the front burner for restaurants.  Despite
stable, perhaps even improving, macroeconomic and consumer
indicators, a tougher cost landscape has emerged for North
American restaurants thus elevating cost management to the top of
the priorities list for the remainder of the year and into 2015.
That's according to a new study of the North American restaurant
and foodservice industry from AlixPartners, the global business
advisory firm.

The AlixPartners North American Restaurant & Foodservice Review
examined the financial performance and fiscal health of more than
85 restaurants and foodservice companies representing
approximately $225 billion in annual revenues.  The comprehensive
study also included a survey of more than 1,000 consumers gauging
their anticipated dining behavior and the drivers of dining choice
across the core restaurant segments -- Fast Food, Fast Casual,
Casual, Fine Dining and Convenience Stores.

"As we close out the final months of 2014, our research shows that
the North American restaurant industry remains in a healthy
state -- despite navigating significant cost pressures," said
Adam Werner, managing director at AlixPartners and co-lead of the
firm's Restaurant and Foodservice Practice.  "Although multiple
factors are affecting margins, we see significant opportunity for
those players best able to react quickly to emerging trends and
consumer preferences."

State of the Industry

Restaurants are entering the back half of 2014 with healthier
balance sheets overall.  With debt levels having come down,
distress levels of major public companies in the industry have
fallen to a record low of 15% as measured by the Altman Z-score,
which assesses the probability that a company will fall into
bankruptcy within about two years.  And, according to
AlixPartners' consumer survey, people have been dining out and
purchasing ready-to-eat meals outside of the home more in the past
12 months across all categories.  This is with the exception of
Fast Food where consumers surveyed reported dining at Fast Food
restaurants 5.3 times (per month) on average in the past year,
down from 5.8 as reported in a similar AlixPartners survey
released in Q1 2013.  However, overall, consumers reported eating
out more at Fast Food restaurants in the past 12 months than any
other type of restaurant.  Consumers averaged 3.7 visits to Fast
Casual restaurants (up from 3 in Q1 2013), 3.5 visits to Casual
restaurants (up from 2.8) and 2 visits to Fine Dining restaurant
(up from 1.5).

Despite these positives, evidence mounts on the continued
encroachment of convenience stores and grocery stores on
restaurants' territory.  Consumers surveyed by AlixPartners
reported increases in purchasing ready-to-eat meals from
convenience stores and grocery stores, with grocery stores seeing
a significant jump from an average of 3.3 purchases per month in
the past 12 months as reported in the Q1 2013 survey to an average
of 4.1 purchases.

AlixPartners' research also found that performance of industry
players within each segment is decidedly mixed when it comes to
earnings before interest, taxes, depreciation and amortization
(EBITDA) and compound annual growth rate (CAGR). At the same time,
the study showed that increased spending on investments in growth
such as point-of-sale (POS) technologies and analytics has
contributed to a rise in selling, general, and administrative (SG
&A) expenses as a percentage of revenue, which now exceeds pre-
recession levels.

Furthermore, the industry is facing significant cost headwinds
likely due to a number of factors including volatile commodity
prices and increased labor costs. Although the prices for wheat,
rice and corn have dropped 14%, 20% and 27%, respectively, the
prices for other essentials have increased (the cost of beef has
increased by 39%).  Causes for concern within the industry also
arise from several regulatory and policy changes, including
minimum wage increases as well as legislation defining large-party
tips as taxable wages, both of which are very likely to increase
pressure on margins.

"Despite healthier balance sheets, the industry at large is facing
a serious cost problem" said Eric Dzwonczyk, managing director at
AlixPartners and co-lead of the firm's Restaurant and Foodservice
Practice.  "Restaurants did a good job of cutting costs during the
recession, but they've crept back in recently and need to be dealt
with."

Consumers Likely to Dine Out More and Spend More

Against this industry performance backdrop, AlixPartners' consumer
survey found that consumers seem to be feeling somewhat better
about their financial situations and, as a result, expect to dine
out more in the next 12 months.  Overall, 76% of consumers
surveyed said they plan to dine out the same or more over the
course of the next year, compared to 73% and 71% who said the same
in the Q1 2013 and Q1 2012 surveys respectively.

When it comes to spending on dining out, 77% of consumers surveyed
said they plan to spend the same or more in the next year.
Notably, only 23% of consumers said they plan to spend less on
dining out, versus 33% who said the same in the Q1 2013 survey.
Of consumers who said they plan to spend less on dining out, the
top reasons for doing so included current finances / a need to cut
back (reported by 50% and up from 44% in a Q1 2014 survey), a
desire to eat healthier (reported by 49%), restaurant meals being
too expensive (reported by 39%) and concern over their future
financial situation (reported by 26%).

Diners Still Looking for Value, But in Different Ways

While a majority of consumers surveyed plan to spend the same or
more on dining out in the next 12 months, and while the survey
showed a noticeable decline in consumers planning to spend less on
dining out, the AlixPartners survey also showed that consumers
plan on spending about the same amount per meal in the next year
as they did in the previous year.  Consumers surveyed said they
plan to spend an average of $15.19 per meal in the next 12 months,
a slight decline from their reported average spend of $15.30 per
meal in the previous year.

Though spending per meal, as reported by the consumers surveyed,
is expected to remain relatively flat, the study found that value
is still top-of-mind for consumers when it comes to dining out.
For example, the survey found that the under-$5 price point (aka
"the meal deal") continues to resonate, with 7% of consumers
surveyed saying they expect to spend an average of $5 or less per
meal per person in the next 12 months, up from 4% the previous 12
months. Meanwhile, consumers reported expectations of spending
less in the $5.01 to $10 and $10.01 to $20 ranges in the next 12
months as compared to the previous 12 months, which suggests a
"trade down" mentality is continuing.

Of note, there appears to be a shift in the ways in which diners
plan to reduce their spending at restaurants and seek value.
According to the survey, just 48% of consumers said they plan to
use coupons, promotions and discounts to reduce their restaurant
spend, versus 56% who said the same in the Q1 2013 survey.  At the
same time, the survey shows that 20% of value-seeking customers
who are planning to reduce the amount they spend on dining out in
the next 12 months will purchase read-to-eat meals, up from 14%
who said the same in the Q1 2013 survey.

"Grocery and convenience stores are upping their ready-to-eat game
by offering higher quality and better tasting ready-to-eat
options, and we're seeing the results as value-conscious consumers
are increasingly seeing ready-to-eat meals as a preferable option
as they seek to reduce their dining out spend," said Mr.
Dzwonczyk. "Traditional restaurants can no longer afford to ignore
or underestimate the ready-to-eat, convenience and grocery store
threats.  We've seen a blurring of the lines between these
segments and traditional restaurants, particularly Fast Food, over
the past several years and we expect this to continue if
traditional restaurants do not take note and find ways to win back
this 'share of stomach.'"

What Matters: Healthy Menu Options and Reducing Menu Complexity

Unsurprisingly, given the unrelenting demand for health and
healthier-for-you food in the broader food and beverage industry,
healthy menu options have become table stakes in the restaurant
industry; 83% of consumers surveyed consider healthy menu options
at least somewhat important when determining where to dine out.
Of note, among consumers for which healthy menu options were at
least somewhat important in deciding where to dine out, the ways
in which they determined whether a restaurant is healthy was
unexpected, with the top factor (chosen by 61% of consumers
surveyed) being whether a restaurant has a "variety of selected
menu options," followed by whether a restaurant provides
nutritional information on menus (chosen by 48%) and portion size
(chosen by 34%).

At the same time that menu variety is impacting the restaurant
choices of health-conscious consumers, a majority of all consumers
surveyed prefer moderately sized menus.  For example, when it
comes to breakfast, 59% of consumers surveyed prefer moderately
sized menus with several sections, 18% prefer large, diverse menus
with many choices, and 8% prefer small, limited menus with only a
few choices.

Restaurants have taken to heart the desire for reduced menu
complexity among consumers and over the past several years have
reduced menu size and reaped rewards from doing so, including
improved execution and simplified operations, and ultimately cost
cutting.  As restaurants continue to reduce menu complexity, they
must do so with an eye toward rising trends in drivers of
restaurant choice among consumers. Furthermore, based on the
study, AlixPartners contends that restaurants must be nimble as
they capitalize on such trends, paying careful attention to
nuances.  For example, in the health food space, almond milk is
quickly gaining in popularity with consumption growing at an
average annual rate of 66% since 2010, while, on the other hand,
organic menu options seem to be declining in importance.

"Restaurants must be smart in their strategies for reducing menu
complexity, including taking into account trends in consumer
preference and taking deeper dive looks into those trends to make
sure that they are placing the right bets on which items to keep
on their menus and which to cut," said Mr. Werner.

Conclusion

With significant cost headwinds on the horizon and a more
confident, but still value-driven, consumer to contend with,
AlixPartners finds that as restaurants plan for 2015, they must
remain vigilant on costs while also finding ways to create value
and differentiate as a means of growing their "share of stomach."
Controlling costs means focusing on optimizing SG &A, product- and
pricing-profitability maximization, supply chain productivity and
marketing productivity, among other areas.  AlixPartners also
contends that a key to creating value for restaurants will be to
make sure that as they pursue growth they change with the customer
by making the right bets and making them early.

"The battle for market -- or stomach -- share in the restaurant
industry is as fierce as ever.  The winners will be those who
pursue the right paths to growth and value creation, while
reigning in costs," concluded Mr. Dzwonczyk.

                        About the Study

The AlixPartners North American Restaurant & Foodservice Review
included an online poll of 1,018 U.S. consumers conducted in
September 2014.  The questions focused on a number of areas,
including current and planned frequency of dining occasions,
expected spending on meals outside the home, preferred restaurant
types, and key criteria for restaurant selection.  The data are
weighted to reflect the demographic composition of the adult
population.

                         About AlixPartners

AlixPartners -- http://www.alixpartners.com-- is a global
business-advisory.  The firm's expertise covers a wide range of
businesses and industries whether they are healthy, challenged or
distressed.


* S&P Hikes Ratings on 4 Canadian Issuers on New Revolver Criteria
------------------------------------------------------------------
Standard & Poor's Ratings Services said it has reviewed its
recovery and issue-level ratings on Canadian nonfinancial
speculative-grade credits with asset-based lending revolvers in
the capital structure, following the publication of its revised
revolver usage criteria entitled, "Revised Revolver Usage
Assumptions For Recovery Analysis In Corporate Ratings," on
Nov. 20, 2014.

As a result, S&P is raising its issue-level ratings on the debt of
four Canadian issuers and revising its recovery ratings on the
debt of five to reflect their improved recovery prospects.  S&P
will publish individual recovery reports on the companies listed
below, following this media release.

RATINGS LIST

Rating Unchanged/Recovery Rating Revised Due
To Revised Recovery Rating

Criteria
                                         To           From

Bombardier Recreational Products Inc.
Senior secured term loan B              BB-          BB-
Recovery rating                         3            4

Ratings Raised/Recovery Ratings Revised Due
To Revised Recovery Rating
Criteria

Cascades Inc.
Senior unsecured notes                  B+           B
Recovery rating                         4            5

NCSG Crane & Heavy Haul Corp.
Sr sec second-lien term loan            B            B-
Recovery rating                         4            5

Novelis Inc.
Sr sec second-lien term loan B          BB           BB-
Recovery rating                         1            2

YPG Financing Inc.
Senior secured notes                    BB-          B+
Recovery rating                         1            2


* Three Elite Law Firms Lift Year-End Bonuses
---------------------------------------------
Ashby Jones, writing for The Wall Street Journal, reported that
three elite New York law firms will raise their year-end bonuses
to associate attorneys by as much as $40,000, reflecting in part
this year's resurgence in lucrative mergers-and-acquisitions work.

According to the report, managements at Simpson Thacher & Bartlett
LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Cleary
Gottlieb Steen & Hamilton LLP disclosed on Nov. 21 they would cut
checks of between $15,000 and $100,000 next month for associate
attorneys depending on their seniority.


* Large Companies With Insolvent Balance Sheet
----------------------------------------------

                                               Total
                                              Share-      Total
                                    Total   Holders'    Working
                                   Assets     Equity    Capital
  Company         Ticker             ($MM)      ($MM)      ($MM)
  -------         ------           ------   --------    -------
6D GLOBAL TECHNO  SIXD US             -        (15.1)     (15.1)
ABSOLUTE SOFTWRE  OU1 GR            138.4      (12.0)       2.2
ABSOLUTE SOFTWRE  ABT CN            138.4      (12.0)       2.2
ABSOLUTE SOFTWRE  ABT2EUR EU        138.4      (12.0)       2.2
ABSOLUTE SOFTWRE  ALSWF US          138.4      (12.0)       2.2
ADVANCED EMISSIO  ADES US           106.4      (46.1)     (15.3)
ADVANCED EMISSIO  OXQ1 GR           106.4      (46.1)     (15.3)
ADVENT SOFTWARE   AXQ GR            432.9      (76.3)    (106.9)
ADVENT SOFTWARE   ADVS US           432.9      (76.3)    (106.9)
AIR CANADA        ADH2 TH        10,545.0   (1,400.0)     164.0
AIR CANADA        AIDEF US       10,545.0   (1,400.0)     164.0
AIR CANADA        AC CN          10,545.0   (1,400.0)     164.0
AIR CANADA        ACEUR EU       10,545.0   (1,400.0)     164.0
AIR CANADA        ACDVF US       10,545.0   (1,400.0)     164.0
AIR CANADA        ADH2 GR        10,545.0   (1,400.0)     164.0
AIR CANADA-CL A   ADH TH         10,545.0   (1,400.0)     164.0
AIR CANADA-CL A   ADH GR         10,545.0   (1,400.0)     164.0
AIR CANADA-CL A   AC/A CN        10,545.0   (1,400.0)     164.0
AIR CANADA-CL A   AIDIF US       10,545.0   (1,400.0)     164.0
AIR CANADA-CL B   ADH1 GR        10,545.0   (1,400.0)     164.0
AIR CANADA-CL B   ADH1 TH        10,545.0   (1,400.0)     164.0
ALLIANCE HEALTHC  AIQ US            473.5     (127.3)      62.8
AMC NETWORKS-A    AMCX US         3,663.3     (388.0)     659.4
AMC NETWORKS-A    AMCX* MM        3,663.3     (388.0)     659.4
AMC NETWORKS-A    9AC GR          3,663.3     (388.0)     659.4
AMER RESTAUR-LP   ICTPU US           33.5       (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US         1,998.7      (42.4)     263.0
ANGIE'S LIST INC  8AL GR            161.0      (39.4)     (22.7)
ANGIE'S LIST INC  ANGI US           161.0      (39.4)     (22.7)
ANGIE'S LIST INC  8AL TH            161.0      (39.4)     (22.7)
ARRAY BIOPHARMA   ARRY US           135.3      (37.6)      66.2
ARRAY BIOPHARMA   AR2 GR            135.3      (37.6)      66.2
ARRAY BIOPHARMA   AR2 TH            135.3      (37.6)      66.2
AUTOZONE INC      AZO US          7,517.9   (1,621.9)    (960.5)
AUTOZONE INC      AZ5 TH          7,517.9   (1,621.9)    (960.5)
AUTOZONE INC      AZOEUR EU       7,517.9   (1,621.9)    (960.5)
AUTOZONE INC      AZ5 GR          7,517.9   (1,621.9)    (960.5)
AVALANCHE BIOTEC  AVU GR            167.2      155.7      161.9
AVALANCHE BIOTEC  AAVL US           167.2      155.7      161.9
AVID TECHNOLOGY   AVID US           197.2     (341.2)    (173.2)
BENEFITFOCUS INC  BNFT US           131.7      (31.2)      34.2
BENEFITFOCUS INC  BTF GR            131.7      (31.2)      34.2
BERRY PLASTICS G  BERY US         5,268.0     (101.0)     723.0
BERRY PLASTICS G  BP0 GR          5,268.0     (101.0)     723.0
BRP INC/CA-SUB V  BRPIF US        1,895.9      (44.8)     133.6
BRP INC/CA-SUB V  B15A GR         1,895.9      (44.8)     133.6
BRP INC/CA-SUB V  DOO CN          1,895.9      (44.8)     133.6
BURLINGTON STORE  BUI GR          2,555.3     (140.1)     102.3
BURLINGTON STORE  BURL US         2,555.3     (140.1)     102.3
CABLEVISION SY-A  CVC US          6,563.7   (5,068.0)     158.9
CABLEVISION SY-A  CVY GR          6,563.7   (5,068.0)     158.9
CABLEVISION-W/I   8441293Q US     6,563.7   (5,068.0)     158.9
CABLEVISION-W/I   CVC-W US        6,563.7   (5,068.0)     158.9
CADIZ INC         2ZC GR             56.0      (49.7)       3.0
CADIZ INC         CDZI US            56.0      (49.7)       3.0
CAESARS ENTERTAI  CZR US         24,491.5   (3,714.4)   1,363.3
CAESARS ENTERTAI  C08 GR         24,491.5   (3,714.4)   1,363.3
CAPMARK FINANCIA  CPMK US        20,085.1     (933.1)       -
CASELLA WASTE     CWST US           656.6       (7.6)     (11.6)
CATALENT INC      0C8 TH          3,090.2     (367.3)     234.5
CATALENT INC      0C8 GR          3,090.2     (367.3)     234.5
CATALENT INC      CTLT US         3,090.2     (367.3)     234.5
CENTENNIAL COMM   CYCL US         1,480.9     (925.9)     (52.1)
CHOICE HOTELS     CZH GR            664.2     (397.0)     206.0
CHOICE HOTELS     CHH US            664.2     (397.0)     206.0
CIENA CORP        CIE1 GR         2,100.4      (45.2)     889.3
CIENA CORP        CIEN US         2,100.4      (45.2)     889.3
CIENA CORP        CIE1 TH         2,100.4      (45.2)     889.3
CIENA CORP        CIEN TE         2,100.4      (45.2)     889.3
CINCINNATI BELL   CBB US          1,952.6     (584.4)      50.1
CIVITAS SOLUTION  1CI TH          1,031.5      (62.0)      66.1
CIVITAS SOLUTION  CIVI US         1,031.5      (62.0)      66.1
CIVITAS SOLUTION  1CI GR          1,031.5      (62.0)      66.1
CLEAR CHANNEL-A   CCO US          6,383.9     (132.6)     376.9
CLEAR CHANNEL-A   C7C GR          6,383.9     (132.6)     376.9
CLIFFS NATURAL R  CVA GR          4,811.2     (177.3)     242.3
CLIFFS NATURAL R  CLF* MM         4,811.2     (177.3)     242.3
CLIFFS NATURAL R  CVA TH          4,811.2     (177.3)     242.3
CLIFFS NATURAL R  CLF US          4,811.2     (177.3)     242.3
CORINDUS VASCULA  CVRS US             0.0       (0.0)      (0.0)
CROWN BAUS CAPIT  CBCA US             0.0       (0.0)      (0.0)
CVSL INC          CVSL US            66.0       (4.7)       2.8
DIPLOMAT PHARMAC  7DP GR            338.9       30.1      (43.4)
DIPLOMAT PHARMAC  DPLO US           338.9       30.1      (43.4)
DIRECTV           DTV US         22,594.0   (5,557.0)      43.0
DIRECTV           DIG1 GR        22,594.0   (5,557.0)      43.0
DIRECTV           DTVEUR EU      22,594.0   (5,557.0)      43.0
DIRECTV           DTV CI         22,594.0   (5,557.0)      43.0
DOMINO'S PIZZA    DPZ US            510.9   (1,281.7)     112.9
DOMINO'S PIZZA    EZV GR            510.9   (1,281.7)     112.9
DOMINO'S PIZZA    EZV TH            510.9   (1,281.7)     112.9
DOMINO'S PIZZA    EZV QT            510.9   (1,281.7)     112.9
DUN & BRADSTREET  DNB US          1,789.2   (1,083.4)      (0.3)
DUN & BRADSTREET  DB5 GR          1,789.2   (1,083.4)      (0.3)
DUN & BRADSTREET  DB5 TH          1,789.2   (1,083.4)      (0.3)
DURATA THERAPEUT  DTA GR             82.1      (16.1)      11.7
DURATA THERAPEUT  DRTX US            82.1      (16.1)      11.7
DURATA THERAPEUT  DRTXEUR EU         82.1      (16.1)      11.7
EDGEN GROUP INC   EDG US            883.8       (0.8)     409.2
EMPIRE RESORTS I  LHC1 GR            42.4      (14.3)      (9.9)
EMPIRE RESORTS I  NYNY US            42.4      (14.3)      (9.9)
EOS PETRO INC     EOPT US             1.3      (28.4)     (29.5)
EXTENDICARE INC   EXE CN          1,885.0       (7.2)      77.0
EXTENDICARE INC   EXETF US        1,885.0       (7.2)      77.0
FAIRPOINT COMMUN  FONN GR         1,488.5     (395.7)       9.4
FAIRPOINT COMMUN  FRP US          1,488.5     (395.7)       9.4
FAIRWAY GROUP HO  FWM US            371.8       (8.6)      19.9
FERRELLGAS-LP     FEG GR          1,572.3     (111.6)       9.9
FERRELLGAS-LP     FGP US          1,572.3     (111.6)       9.9
FMSA HOLDINGS IN  FM1 GR          1,447.5      (21.7)     271.3
FMSA HOLDINGS IN  FMSAEUR EU      1,447.5      (21.7)     271.3
FMSA HOLDINGS IN  FMSA US         1,447.5      (21.7)     271.3
FMSA HOLDINGS IN  FM1 TH          1,447.5      (21.7)     271.3
FREESCALE SEMICO  FSL US          3,306.0   (3,593.0)   1,333.0
FREESCALE SEMICO  1FS TH          3,306.0   (3,593.0)   1,333.0
FREESCALE SEMICO  1FS GR          3,306.0   (3,593.0)   1,333.0
FRESHPET INC      7FP GR             74.5      (34.2)       1.2
FRESHPET INC      FRPT US            74.5      (34.2)       1.2
GAMING AND LEISU  2GL GR          2,595.4      (77.9)     (44.2)
GAMING AND LEISU  GLPI US         2,595.4      (77.9)     (44.2)
GARDA WRLD -CL A  GW CN           1,469.2      (59.0)     205.0
GENCORP INC       GY US           1,749.7      (48.5)      70.2
GENCORP INC       GCY GR          1,749.7      (48.5)      70.2
GENCORP INC       GCY TH          1,749.7      (48.5)      70.2
GENTIVA HEALTH    GHT GR          1,250.6     (285.7)     112.2
GENTIVA HEALTH    GTIV US         1,250.6     (285.7)     112.2
GLG PARTNERS INC  GLG US            400.0     (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US          400.0     (285.6)     156.9
GOLD RESERVE INC  GDRZF US           28.0      (10.5)       4.9
GOLD RESERVE INC  GRZ CN             28.0      (10.5)       4.9
GRAHAM PACKAGING  GRM US          2,947.5     (520.8)     298.5
HCA HOLDINGS INC  HCA US         29,825.0   (6,018.0)   2,895.0
HCA HOLDINGS INC  2BH GR         29,825.0   (6,018.0)   2,895.0
HCA HOLDINGS INC  2BH TH         29,825.0   (6,018.0)   2,895.0
HD SUPPLY HOLDIN  HDS US          6,714.0     (701.0)   1,438.0
HD SUPPLY HOLDIN  5HD GR          6,714.0     (701.0)   1,438.0
HERBALIFE LTD     HLFEUR EU       2,364.5     (420.6)     508.8
HERBALIFE LTD     HOO GR          2,364.5     (420.6)     508.8
HERBALIFE LTD     HLF US          2,364.5     (420.6)     508.8
HOVNANIAN ENT-A   HOV US          1,893.7     (443.1)   1,107.3
HOVNANIAN ENT-A   HO3 GR          1,893.7     (443.1)   1,107.3
HOVNANIAN ENT-B   HOVVB US        1,893.7     (443.1)   1,107.3
HOVNANIAN-A-WI    HOV-W US        1,893.7     (443.1)   1,107.3
HUBSPOT INC       096 GR             52.1       (5.3)     (22.1)
HUBSPOT INC       HUBS US            52.1       (5.3)     (22.1)
HUGHES TELEMATIC  HUTCU US          110.2     (101.6)    (113.8)
IHEARTMEDIA INC   IHRT US        14,752.2   (9,315.2)   1,225.6
INCYTE CORP       INCY US           785.3      (89.6)     538.0
INCYTE CORP       ICY TH            785.3      (89.6)     538.0
INCYTE CORP       ICY GR            785.3      (89.6)     538.0
INFOR US INC      LWSN US         6,778.1     (460.0)    (305.9)
INTERCORE INC     ICOR US             0.4       (2.5)      (2.5)
IPCS INC          IPCS US           559.2      (33.0)      72.1
ISTA PHARMACEUTI  ISTA US           124.7      (64.8)       2.2
JUST ENERGY GROU  1JE GR          1,570.4     (311.6)     159.7
JUST ENERGY GROU  JE CN           1,570.4     (311.6)     159.7
JUST ENERGY GROU  JE US           1,570.4     (311.6)     159.7
L BRANDS INC      LB US           6,870.0     (503.0)   1,119.0
L BRANDS INC      LTD GR          6,870.0     (503.0)   1,119.0
L BRANDS INC      LTD TH          6,870.0     (503.0)   1,119.0
LEAP WIRELESS     LWI GR          4,662.9     (125.1)     346.9
LEAP WIRELESS     LWI TH          4,662.9     (125.1)     346.9
LEAP WIRELESS     LEAP US         4,662.9     (125.1)     346.9
LEE ENTERPRISES   LEE US            828.2     (165.0)     (26.0)
LORILLARD INC     LLV GR          3,275.0   (2,155.0)     918.0
LORILLARD INC     LLV TH          3,275.0   (2,155.0)     918.0
LORILLARD INC     LO US           3,275.0   (2,155.0)     918.0
MANNKIND CORP     NNF1 TH           386.8      (40.7)    (100.3)
MANNKIND CORP     NNF1 GR           386.8      (40.7)    (100.3)
MANNKIND CORP     MNKD US           386.8      (40.7)    (100.3)
MARRIOTT INTL-A   MAQ TH          6,847.0   (1,842.0)  (1,186.0)
MARRIOTT INTL-A   MAQ GR          6,847.0   (1,842.0)  (1,186.0)
MARRIOTT INTL-A   MAQ QT          6,847.0   (1,842.0)  (1,186.0)
MARRIOTT INTL-A   MAR US          6,847.0   (1,842.0)  (1,186.0)
MDC COMM-W/I      MDZ/W CN        1,707.3      (86.7)    (256.5)
MDC PARTNERS-A    MD7A GR         1,707.3      (86.7)    (256.5)
MDC PARTNERS-A    MDZ/A CN        1,707.3      (86.7)    (256.5)
MDC PARTNERS-A    MDCA US         1,707.3      (86.7)    (256.5)
MDC PARTNERS-EXC  MDZ/N CN        1,707.3      (86.7)    (256.5)
MERITOR INC       AID1 GR         2,502.0     (585.0)     254.0
MERITOR INC       MTOR US         2,502.0     (585.0)     254.0
MERRIMACK PHARMA  MP6 GR            188.6      (99.9)      40.9
MERRIMACK PHARMA  MACK US           188.6      (99.9)      40.9
MICHAELS COS INC  MIK US          1,716.0   (2,734.0)     493.0
MICHAELS COS INC  MIM GR          1,716.0   (2,734.0)     493.0
MONEYGRAM INTERN  MGI US          4,600.2     (157.2)      87.1
MORGANS HOTEL GR  M1U GR            632.3     (221.3)      89.3
MORGANS HOTEL GR  MHGC US           632.3     (221.3)      89.3
MOXIAN CHINA INC  MOXC US             4.9       (1.2)      (4.0)
MPG OFFICE TRUST  1052394D US     1,280.0     (437.3)       -
NATIONAL CINEMED  XWM GR            993.6     (200.2)      51.8
NATIONAL CINEMED  NCMI US           993.6     (200.2)      51.8
NAVISTAR INTL     IHR TH          7,702.0   (4,046.0)   1,126.0
NAVISTAR INTL     NAV US          7,702.0   (4,046.0)   1,126.0
NAVISTAR INTL     IHR GR          7,702.0   (4,046.0)   1,126.0
NEFF CORP-CL A    NEFF US           612.1     (343.7)      (1.5)
NORTHWEST BIO     NWBO US            29.4      (31.2)     (41.7)
NORTHWEST BIO     NBYA GR            29.4      (31.2)     (41.7)
OMEROS CORP       3O8 GR             25.3      (26.6)       9.0
OMEROS CORP       OMER US            25.3      (26.6)       9.0
OMTHERA PHARMACE  OMTH US            18.3       (8.5)     (12.0)
PALM INC          PALM US         1,007.2       (6.2)     141.7
PBF LOGISTICS LP  11P GR            360.0      (47.3)      15.6
PBF LOGISTICS LP  PBFX US           360.0      (47.3)      15.6
PHILIP MORRIS IN  PM1EUR EU      35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  PM1 TE         35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  4I1 GR         35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  4I1 TH         35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  4I1 QT         35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  PMI SW         35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  PM1CHF EU      35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  PM FP          35,401.0   (8,677.0)    (356.0)
PHILIP MORRIS IN  PM US          35,401.0   (8,677.0)    (356.0)
PLAYBOY ENTERP-A  PLA/A US          165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US            165.8      (54.4)     (16.9)
PLY GEM HOLDINGS  PG6 GR          1,304.9      (73.5)     238.9
PLY GEM HOLDINGS  PGEM US         1,304.9      (73.5)     238.9
PROTALEX INC      PRTX US             0.8       (9.1)       0.4
PROTECTION ONE    PONE US           562.9      (61.8)      (7.6)
PROTEON THERAPEU  PRTO US            27.1       14.6       19.9
QUALITY DISTRIBU  QDZ GR            439.6      (30.4)     105.2
QUALITY DISTRIBU  QLTY US           439.6      (30.4)     105.2
QUINTILES TRANSN  QTS GR          3,106.7     (536.2)     511.8
QUINTILES TRANSN  Q US            3,106.7     (536.2)     511.8
RAYONIER ADV      RYAM US         1,246.3      (13.4)     167.3
RAYONIER ADV      RYQ GR          1,246.3      (13.4)     167.3
REGAL ENTERTAI-A  RGC* MM         2,553.5     (755.1)       6.5
REGAL ENTERTAI-A  RETA GR         2,553.5     (755.1)       6.5
REGAL ENTERTAI-A  RGC US          2,553.5     (755.1)       6.5
RELMADA THERAPEU  RLMD US             0.0       (0.0)      (0.0)
RENAISSANCE LEA   RLRN US            57.0      (28.2)     (31.4)
RENTPATH INC      PRM US            208.0      (91.7)       3.6
RETROPHIN INC     17R GR            145.9      (10.2)      (3.7)
RETROPHIN INC     RTRX US           145.9      (10.2)      (3.7)
REVLON INC-A      REV US          1,912.6     (570.6)     300.9
REVLON INC-A      RVL1 GR         1,912.6     (570.6)     300.9
RITE AID CORP     RTA TH          6,959.3   (1,906.5)   1,783.1
RITE AID CORP     RTA GR          6,959.3   (1,906.5)   1,783.1
RITE AID CORP     RAD US          6,959.3   (1,906.5)   1,783.1
ROCKWELL MEDICAL  RWM GR             23.9       (5.5)       2.6
ROCKWELL MEDICAL  RWM TH             23.9       (5.5)       2.6
ROCKWELL MEDICAL  RMTI US            23.9       (5.5)       2.6
ROUNDY'S INC      4R1 GR          1,089.7      (66.8)      71.8
ROUNDY'S INC      RNDY US         1,089.7      (66.8)      71.8
RURAL/METRO CORP  RURL US           303.7      (92.1)      72.4
RYERSON HOLDING   RYI US          2,001.1     (108.5)     734.8
RYERSON HOLDING   7RY TH          2,001.1     (108.5)     734.8
RYERSON HOLDING   7RY GR          2,001.1     (108.5)     734.8
SALLY BEAUTY HOL  SBH US          2,030.0     (347.1)     640.6
SALLY BEAUTY HOL  S7V GR          2,030.0     (347.1)     640.6
SBA COMM CORP-A   SBJ GR          7,809.0     (297.6)    (671.8)
SBA COMM CORP-A   SBAC US         7,809.0     (297.6)    (671.8)
SBA COMM CORP-A   SBJ TH          7,809.0     (297.6)    (671.8)
SECOND SIGHT MED  EYES US             9.6      (19.5)       4.4
SILVER SPRING NE  9SI GR            552.9     (139.0)      82.8
SILVER SPRING NE  9SI TH            552.9     (139.0)      82.8
SILVER SPRING NE  SSNI US           552.9     (139.0)      82.8
SIRIUS XM CANADA  XSR CN            329.4      (87.2)    (161.7)
SIRIUS XM CANADA  SIICF US          329.4      (87.2)    (161.7)
SPARK ENERGY-A    SPKE US            86.5       (0.9)      (9.4)
SPORTSMAN'S WARE  SPWH US           292.3      (44.5)      76.1
SPORTSMAN'S WARE  06S GR            292.3      (44.5)      76.1
SUPERVALU INC     SVU US          4,486.0     (634.0)      92.0
SUPERVALU INC     SVU* MM         4,486.0     (634.0)      92.0
SUPERVALU INC     SJ1 TH          4,486.0     (634.0)      92.0
SUPERVALU INC     SJ1 GR          4,486.0     (634.0)      92.0
THERAVANCE        THRX US           553.7     (193.1)     237.4
THERAVANCE        HVE GR            553.7     (193.1)     237.4
THRESHOLD PHARMA  THLD US            76.7      (21.0)      49.1
TOWN SPORTS INTE  CLUB US           482.6      (53.8)      69.7
TRANSDIGM GROUP   T7D GR          6,756.8   (1,556.1)   1,103.7
TRANSDIGM GROUP   TDG US          6,756.8   (1,556.1)   1,103.7
TRAVELPORT WORLD  TVPT US         2,992.0     (210.0)    (161.0)
TRAVELPORT WORLD  1TW GR          2,992.0     (210.0)    (161.0)
TRINET GROUP INC  TNET US         1,393.3      (48.9)      17.3
TRINET GROUP INC  TN3 GR          1,393.3      (48.9)      17.3
UNISYS CORP       UIS1 SW         2,279.4     (521.2)     343.9
UNISYS CORP       USY1 GR         2,279.4     (521.2)     343.9
UNISYS CORP       UISEUR EU       2,279.4     (521.2)     343.9
UNISYS CORP       USY1 TH         2,279.4     (521.2)     343.9
UNISYS CORP       UISCHF EU       2,279.4     (521.2)     343.9
UNISYS CORP       UIS US          2,279.4     (521.2)     343.9
VECTOR GROUP LTD  VGR GR          1,643.4       (7.9)     561.5
VECTOR GROUP LTD  VGR US          1,643.4       (7.9)     561.5
VENOCO INC        VQ US             736.8     (139.5)    (777.3)
VERISIGN INC      VRS GR          2,207.4     (748.8)    (326.3)
VERISIGN INC      VRS TH          2,207.4     (748.8)    (326.3)
VERISIGN INC      VRS QT          2,207.4     (748.8)    (326.3)
VERISIGN INC      VRSN US         2,207.4     (748.8)    (326.3)
VERIZON TELEMATI  HUTC US           110.2     (101.6)    (113.8)
VERSO PAPER CORP  VRS US          1,019.7     (584.3)       9.4
VIRGIN AMERICA I  2VA1 TH           876.0     (313.0)      19.0
VIRGIN AMERICA I  2VA1 GR           876.0     (313.0)      19.0
VIRGIN AMERICA I  VA US             876.0     (313.0)      19.0
VIRGIN MOBILE-A   VM US             307.4     (244.2)    (138.3)
WEIGHT WATCHERS   WW6 GR          1,558.3   (1,357.7)      60.6
WEIGHT WATCHERS   WTW US          1,558.3   (1,357.7)      60.6
WEIGHT WATCHERS   WW6 TH          1,558.3   (1,357.7)      60.6
WEIGHT WATCHERS   WTWEUR EU       1,558.3   (1,357.7)      60.6
WEST CORP         WSTC US         3,929.2     (684.9)     284.7
WEST CORP         WT2 GR          3,929.2     (684.9)     284.7
WESTMORELAND COA  WME GR          1,578.5     (264.3)     101.2
WESTMORELAND COA  WLB US          1,578.5     (264.3)     101.2
XERIUM TECHNOLOG  XRM US            611.2      (51.2)     102.1
XERIUM TECHNOLOG  TXRN GR           611.2      (51.2)     102.1
XOMA CORP         XOMA US            70.9      (18.1)      28.5
XOMA CORP         XOMA GR            70.9      (18.1)      28.5
XOMA CORP         XOMA TH            70.9      (18.1)      28.5
YRC WORLDWIDE IN  YRCW US         2,046.6     (361.2)     195.9
YRC WORLDWIDE IN  YEL1 TH         2,046.6     (361.2)     195.9
YRC WORLDWIDE IN  YEL1 GR         2,046.6     (361.2)     195.9


                             *********

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 ***