TCR_Public/141126.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

          Wednesday, November 26, 2014, Vol. 18, No. 329

                            Headlines

99 CENTS: S&P Lowers CCR to 'B-' on Continued Weak Performance
ACCUDYNE INDUSTRIES: Moody's Alters Rating Outlook to Negative
AKD INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
ALLEN PARK, MI: Settles SEC Fraud Charges in Municipal Bond Sale
ALON USA: S&P Affirms 'B+' Corp. Credit Rating; Outlook Stable

AMERICAN INT'L: Greenberg to Testify in Bailout Trial
ARCHDIOCESE OF MILWAUKEE: Settles With Insurer Over Abuse Coverage
ARG IH: S&P Retains 'B' Corp. Credit Rating
ASSOCIATED WHOLESALERS: $1.8MM in Claims Switched Hands By Oct. 31
BETHEL DELIVERANCE: Case Summary & 7 Largest Unsecured Creditors

BREITBURN ENERGY: S&P Rates New $2.5 Billion Secured Debt 'BB'
CAESARS ENTERTAINMENT: Ch. 11 Still Likely Despite Spin-off Plans
CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 6% Off
CAESARS ENTERTAINMENT: Bond Trustee Seeks Receiver for Unit
CDW LLC: S&P Assigns 'B+' Rating on $575MM Sr. Unsecured Notes

CE GENERATION: Fitch Affirms 'BB-' Rating on $400MM Sr. Notes
CEDAR FAIR: S&P Affirms 'BB' CCR; Outlook Stable
COLDWATER CREEK: Wood County Clears Out Mineral Wells Facility
COMPUWARE HOLDINGS: S&P Assigns Prelim. 'B' CCR; Outlook Stable
CONAGRA FOODS: Fitch Affirms 'BB+' Rating on Subordinated Notes

CONNACHER OIL: Moody's Lowers CFR to Ca; Outlook Negative
CONNIE STEVENS: Files Chapter 11 Plan to be Funded by Home Sale
DAHL'S FOODS: Section 341(a) Meeting Scheduled for December 4
DENDREON CORP: Employs Prime Clerk as Admin. Advisor
DENDREON CORP: Has Interim Approval of Equity Trading Protocol

DENDREON CORP: Court Enforces Sec. 362 Stay in Ch. 11 Cases
DENDREON CORP: Section 341(a) Meeting Set for December 8
DETROIT, MI: Developer Cancels Plan to Buy Blighted Properties
DETROIT, MI: Judge to Set Start Date Soon for Ch. 9 Exit Measures
ELGIN BAYLOR LUMPKIN: Prepares to File for Bankruptcy

EVERGREEN TANK: S&P Puts 'B-' CCR on CreditWatch Positive
FANNIE MAE: Official Details Plans on Low-Down-Payment Mortgages
FE&J INC: Case Summary & 20 Largest Unsecured Creditors
FOREST CITY: S&P Raises Corp. Credit Rating to 'BB-'
FRED FULLER: Section 341(a) Meeting Scheduled for December 17

GARLOCK SEALING: Dec. 4 Hearing on Hidden Asbestos Evidence Claims
GGW BRANDS: Proskauer Pays 'Girls Gone Wild' Co. To End Fee Row
GT ADVANCED: Apple Shields Information In Creditor Probe
GT ADVANCED: Appoints Two New Members to Board of Directors
H. A. ASSOCIATES Case Summary & 20 Largest Unsecured Creditors

HEALTHSOUTH CORP: Encompass Deal No Impact on Moody's Ba3 CFR
HERRING CREEK: Section 341(a) Meeting Scheduled for Dec. 17
HUDSON'S BAY: Moody's Affirms B1 Corporate Family Rating
IBI PALM BEACH: Lender Says Island Breeze Casino Owes $13 Million
ION GEOPHYSICAL: S&P Lowers CCR to 'B-' on Weak Liquidity

JACKSON HILLS: Case Summary & 2 Largest Unsecured Creditors
JOE'S JEANS: Looks For Deal With Lenders
LDK SOLAR: Court Confirms Prepackaged Ch. 11 Plan
LOGAN JOHNSTON: 'Gap' Interest on Tax Claims Is Never Discharged
MARYSVILLE, CA: Moody's Lowers $7MM Taxable COPs Rating to Ba3

MAUDORE MINERALS: Gets 45-Day Extension to Make BIA Proposal
MIG LLC: Exclusive Plan Filing Date Extended to Dec. 29
MORTGAGES LTD: 9th Circuit Questions Its Own Mootness Opinion
NETBANK INC: High Court Won't Hear $5.7M Tax Refund Case
NEUSTAR INC: S&P Retains 'BB' CCR on CreditWatch Negative

NIAGARA AT BARTON: Can Tap Cash for Limited Use
O.W. BUNKER: Seeks to Continue Using Cash Management System
O.W. BUNKER: Proposes Dec. 4 Auction for Vopak Oil
O.W. BUNKER: Section 341(a) Meeting Scheduled for December 15
O.W. BUNKER: Amends List of Largest Unsecured Creditors

O.W. BUNKER: Seeks Until Jan. 12 to File Schedules
O.W. BUNKER: To Sue Lender, Wants Customer Payments Preserved
O.W. BUNKER: Seeks Joint Administration of Ch. 11 Cases
OCEANIA CRUISES: S&P Withdraws 'B' Corporate Credit Rating
ORTHOFIX INTERNATIONAL: Provides Update on NASDAQ Listing Matters

PALM BEACH FINANCE: Fraud Suit Against BMO Harris Continues
PETAQUILLA MINERAL: Closing of Bridge Loan Delayed
POWERTEAM SERVICES: S&P Raises Rating on 1st Lien Loans to 'B+'
QUIZNOS: Will Close South Dakota Restaurant on Nov. 30
REDDY ICE: S&P Lowers CCR to 'CCC' on Liquidity Constraints

REICHHOLD HOLDINGS: Seeks Approval of Sale Procedures
RENAULT WINERY: Section 341(a) Meeting Scheduled for December 11
REVEL AC: ACR Energy Objects to DIP Financing
REVEL AC: Brookfield's Deal to Buy Casino Still in Play
SAMUEL WYLY: Explore Booksellers Price Drops by $1 Million

SAN BERNARDINO, CA: Warns It May Contract Out Services, Raise Debt
SANDLEWOOD AFFORDABLE: S&P Lowers Rating on 2011A Bonds to 'B+'
SEEGRID CORP: Fights Bid To Delay Ch. 11 Confirmation
SOCIEDAD EL PARAISO: Case Summary & Unsecured Creditor
ST. CATHERINE'S HOSPITAL: Trustee Has Buyer for Vacant Hospital

STG-FAIRWAY ACQUISITIONS: S&P Rates $485-Mil. 1st Lien Debt 'B'
TELEPHONE AND DATA: Moody's Cuts Sr. Unsecured Debt Rating to Ba2
TELEPHONE AND DATA: S&P Lowers Corp. Credit Rating to 'BB'
TRUMP ENTERTAINMENT: New Talks w/ Union, NJ Could Save Casino
TRUMP ENTERTAINMENT: Union Appeal Sent Straight To 3rd Circ.

TRUMP ENTERTAINMENT: Johnstone Sells Claim to Sierra Liquidity
TURNER GRAIN: Receiver Sues Helena National Bank to Recover $315K
TURNER GRAIN: Receiver Wants to Conduct Probe on Eight Related Cos
U.S. CELLULAR CORP: Fitch to Rate Planned Debt Issue 'BB+' Rating
VISTEON CORP: In Talks to Shed Halla Stake

WIDEOPENWEST FINANCE: Moody's Affirms B2 Corporate Family Rating
WYNN AMERICA: Fitch Gives 'BB' IDR & Rates $1.25BB Debt 'BB+'

* Premier Business Centers Opens in Denver, Colorado

* Almost No One Defaulted on Junk Debt in October, Moody's Says
* PBGC Publishes Rules on 401(k) Rollovers to Traditional Pensions

* Donlin Recano Opens New Operations Center in Brooklyn, New York
* Sandra Montgomery Joins Proskauer as Finance Group Partner
* Wiley Rein Parts Ways with Bankruptcy Group


                             *********

99 CENTS: S&P Lowers CCR to 'B-' on Continued Weak Performance
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on City of Commerce, Calif.-based 99 Cents Only Stores to
'B-' from 'B'.  The outlook is stable.  At the same time, S&P
lowered its issue-level rating on the company's first lien term
loan to 'B' from 'B+'.  The '2' recovery rating remains unchanged,
indicating S&P's expectation for substantial (70%-90%) recovery in
the event of a payment default.  S&P is also lowering its issue-
level rating on the company's senior unsecured notes to 'CCC' from
'CCC+'.  The recovery rating remains '6', indicating S&P's
expectation for negligible (0%-10%) recovery in the event of a
default.

"The downgrade reflects our expectation that 99 Cents Only Stores
will continue to experience intense competitive pressures in the
consolidating discount sector in the coming year, while
simultaneously undergoing a significant transformation related to
pricing, merchandise assortment, product sourcing, and store
expansion that has accelerated since the company's leveraged
buyout about three years ago," said credit analyst Diya Iyer.

The stable outlook on 99 Cents Only reflects that while accounting
changes, worker's compensation costs, inventory increases, and new
management have been key risks in the past 12 months, S&P believes
the company could begin to see some benefit from its
transformative initiatives in the coming year.  S&P also expects
cost pressures from the California drought to abate slightly in
the next six months, with changes in merchandise mix offsetting
margin pressure.

Upside scenario

S&P could raise its ratings during the next year if 99 Cents
improves EBITDA beyond S&P's expectations, with leverage
approaching 5.0x, FFO-to-debt in the mid-teens percent and
interest coverage closer to 3.0x on a sustained basis.  The
company would also demonstrate consistent store growth across
existing and new geographies and maintain stable free operating
cash flow because of continued working capital management, with
same-store sales in the low-single digit percent range over at
least two quarters.

Downside scenario

S&P could lower the rating over the next year if 99 Cents Only's
operating performance is weaker than S&P expected, potentially
because of slower-than-projected store expansion, or an increase
in competitive or food cost pressures.  Under this scenario, gross
margin would decline approximately 100 bps while comparable-store
sales growth would be modestly negative, leading to leverage
remaining elevated above 7x on a sustained basis.  Additionally,
S&P would consider a downgrade if interest coverage approached
1.0x and liquidity continues to weaken, with declining free
operating cash flow and increased revolver borrowings to meet
inventory needs.


ACCUDYNE INDUSTRIES: Moody's Alters Rating Outlook to Negative
--------------------------------------------------------------
Moody's Investor Services affirmed Accudyne Industries Borrower
S.C.A.'s B2 Corporate Family Rating and B2-PD Probability of
Default Ratings, but revised the outlook to negative based on
Moody's expectation for sustained very high leverage and an
uncertain revenue outlook in 2015. Moody's also affirmed the B1
ratings on the company's revolving credit facility and first lien
term loan, and the Caa1 rating on the senior notes.

Ratings affirmed:

Accudyne Industries Borrower S.C.A.

  Corporate Family Rating, B2;

  Probability of Default, B2-PD;

  $300 million senior secured first lien revolver due 2017, B1
  (LGD-3);

  $1.675 billion senior secured first lien term loan due 2019, B1
  (LGD-3);

  $650 million senior unsecured global notes due 2020, Caa1
  (LGD-5).

The outlook was changed to negative from stable.

Ratings Rationale

The revision of the outlook to negative reflects Moody's
expectation for Accudyne to continue reporting debt to EBITDA at
or above 7.5x in 2015 and the uncertain revenue outlook coming out
of a very challenging 2014 during which revenue declined on end
market weakness; indeed, revenue declined in four out of the seven
reported quarters (through Q3 2014) since the company was taken
private in late 2012. Specifically, the company's deliveries of
portable compressors and pumps to factories in the US, compressors
to Chinese manufacturing plants and Australian mining, have
declined meaningfully in the second half of 2014 and demand is
expected to remain weak in 2015. The deterioration in EBITDA
implies a materially narrower equity valuation compared to when
the company was purchased by Carlye and BC Partners in late 2012.
The affirmation of the B2 reflects Moody's expectation for the
company to sustain its consistent free cash flow and the heavy
application of this cash flow to debt reduction. Additionally, the
company generates high teens percent EBITA margins and revenue
from the company's well known Sundyne, Milton Roy, and Sullair
products which are globally diversified and typically would help
buffer revenue volatility. Delivery of pumps for use in production
of oil and gas should remain steady as the pumps are used by
producing wells with low production costs.

Moody's negative outlook could be revised to stable should
Accudyne demonstrate stabilization of revenue and continued free
cash flow applied to debt reduction.

Liquidity is good based on the near full availability under the
company's revolver, meaningful cash on hand, consistent free cash
flow, and generous covenant compliance.

Ratings could be downgraded if revenue continues to decline in
2015, free cash flow materially declines, or the company ceases to
apply most free cash flow to debt reduction. In addition, a
failure of the company to make measurable improvements in leverage
in 2015 would lead to a downgrade. The very high leverage makes an
upgrade unlikely over the near term. Over the intermediate term, a
reduction in leverage to around 4.0x combined with improved end
markets for the company's core compression and pump markets.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 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.

Accudyne Industries Acquisition S.a.r.l ("Accudyne," formerly
Silver II Acquisition S.a.r.l), who's administrative office is
located in Dallas, Texas, is a manufacturer of flow control
equipment and air compressors. The company, comprised of entities
of Hamilton Sundstrand Industrial, was acquired in December 2012
from United Technologies Corporation ("UTC") for $3.4 billion
(excluding a working capital adjustment) by funds of BC Partners
Limited and The Carlyle Group L.P. Accudyne's operations are
divided into two main business segments: Flow Control and
Industrial Air Compressors. Flow Control (59% of YTD September
2014 revenue) manufactures pumps, gas compressors, and other
products while Industrial Air Compressors (41% of YTD September
2014 revenue) manufactures various air compressors. End markets
served include chemicals, construction & mining, industrial
manufacturing, oil & gas, and water treatment among others.
Revenue for the LTM period ended September 30, 2014 were
approximately $1.3 billion.


AKD INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: AKD Investments, LLC
        2900 Magazine Street
        New Orleans, LA 70115

Case No.: 14-13076

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 12, 2014

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

Judge: Hon. Elizabeth W. Magner

Debtor's Counsel: Pierre V. Miller, II, Esq.
                  PATRICK MILLER LLC
                  400 Poydras Street, Suite 1680
                  New Orleans, LA 70130
                  Tel: (504) 527-5400
                  Fax: (504) 527-5456
                  Email: pmiller@patrickmillerlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Andrea Kim Dudek, authorized
individual.

The Debtor listed Biz Capital as its largest unsecured creditor
holding a claim of $335,000.

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

            http://bankrupt.com/misc/laeb14-13076.pdf


ALLEN PARK, MI: Settles SEC Fraud Charges in Municipal Bond Sale
----------------------------------------------------------------
Tess Stynes, writing for The New York Times' DealBook, reported
that the city of Allen Park, Mich., and two of its former
officials settled fraud charges related to the sale of a $31
million municipal bond issue to raise funds for a movie studio
project to spur needed economic development, according to the
Securities and Exchange Commission.

According to the DealBook, the SEC and other regulators have been
moving to protect the small investors who make up the bulk of the
$3.7 trillion municipal-bond market, which the SEC described in a
2012 report as "illiquid and opaque."

                         *     *     *

The Troubled Company Reporter, on April 10, 2014, reported that
Standard & Poor's Ratings Services revised its outlook to positive
from stable and affirmed its 'B-' long-term and underlying rating
(SPUR) on Allen Park City, Mich.'s unlimited-tax general
obligation (GO) bonds and limited-tax GO bonds, some of which were
issued by the Allen Park Building Authority and the Allen Park
Brownfield Redevelopment Authority.

"The positive outlook is based on our view that within two years,
the city's budgetary performance and flexibility could improve as
a result of structural budget changes already implemented by its
emergency financial manager," said Standard & Poor's credit
analyst Caroline West.  "We believe the emergency financial
manager has used powers granted by the state to execute
considerable structural changes to the budget in a short time-
frame, and when combined with voter approval of an additional
operating levy, these changes could improve both budgetary
performance and flexibility in the next year," Ms. West added.


ALON USA: S&P Affirms 'B+' Corp. Credit Rating; Outlook Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on variable master limited partnership
(MLP) Alon USA Partners L.P.  The ratings affirmation reflects the
partnership's improved credit measures.  The outlook is stable.

S&P also raised its issue-level rating on the partnership's senior
secured notes to 'BB-' from 'B+'.  The '2' recovery rating is
unchanged, indicating S&P's expectation of substantial (70% to
90%) recovery if a payment default occurs.  S&P's recovery
expectations are in the lower half of the 70% to 90% range.

At the same time, S&P withdrew its 'B+' issue-level rating and '3'
recovery rating on the partnership's proposed senior unsecured
notes due 2022.

"The stable rating outlook on Alon reflects our expectation that
the partnership will generate refining margins of about $15 per
barrel over the next 12 months, resulting in adjusted debt to
EBITDA of about 1.5x while maintaining adequate liquidity," said
Standard & Poor's Mike Llanos.  "If the partnership pursues the
acquisition of Krotz Springs, we would likely affirm the rating."

S&P could consider lower ratings if adjusted leverage exceeds 3.5x
for a sustained period.  This could occur if refining margins
deteriorate materially below S&P's midcycle assumptions due to
weak crack spreads (i.e., the difference between crude oil and
refined product prices), due to operational underperformance, or
if liquidity weakens.

S&P does not expect higher ratings at this time due to the limited
geographic and asset diversity.  Over the longer term, higher
ratings could be considered if the partnership diversifies its
asset base while sustaining adjusted debt to EBITDA below 1.5x
under current conditions or below 2x under mid-cycle conditions.


AMERICAN INT'L: Greenberg to Testify in Bailout Trial
-----------------------------------------------------
Liz Claman, writing for Fox Business, reported that the U.S.
Department of Justice confirmed that former American International
Group Inc. CEO Maurice "Hank" Greenberg will take the witness
stand in the trial over the U.S. Government's bailout of the
insurer.

According to the report, Mr. Greenberg's appearance at the
landmark trial in U.S. Court of Federal Claims will no doubt heat
up the trial which has seen a parade of government figures called
to the stand, ranging from former Treasury Secretaries Hank
Paulson and Timothy Geithner to former Federal Reserve Chairman
Ben Bernanke, Goldman Sachs chief turned U.S. Treasury Secretary
Henry Paulson and Timothy Geithner, then head of the Federal
Reserve Bank of New York and later Paulson's successor at the
Treasury Department.

As previously reported by The Troubled Company Reporter, David
Boies, who represents Mr. Greenberg's Starr International Co., has
made the case that the Government cheated IG shareholders of at
least $25 billion partly for the benefit of an elite club of
banks.  Mr. Greenberg, who built AIG into a global financial-
services powerhouse during nearly 40 years at its helm, is
challenging the historic 2008 government bailout of the company
and has asked a federal judge to rule that the government coerced
AIG's board into harsh terms, allegedly cheating shareholders
including Mr. Greenberg in the process.

The case is Starr International Co. v. U.S., 11-cv-00779, U.S.
Court of Federal Claims (Washington).

                           About AIG

With corporate headquarters in New York, American International
Group, Inc., is an international insurance company, serving
customers in more than 130 countries.  AIG companies serve
commercial, institutional and individual customers through
property-casualty networks of any insurer. In addition, AIG
companies are providers of life insurance and retirement services.

At the height of the 2008 financial crisis, AIG experienced a
liquidity crunch when its credit ratings were downgraded below
"AA" levels by Standard & Poor's, Moody's Investors Service and
Fitch Ratings.  AIG almost collapsed under the weight of bad bets
it made insuring mortgage-backed securities.  The Company,
however, was bailed out by the Federal Reserve, but even after an
initial infusion of $85 billion, losses continued to grow.  The
later rescue packages brought the total to $182 billion, making it
the biggest federal bailout in U.S. history.  AIG sold off a
number of its businesses and other assets to pay down loans
received from the U.S. government.


ARCHDIOCESE OF MILWAUKEE: Settles With Insurer Over Abuse Coverage
-----------------------------------------------------------------
Law360, citing the Milwaukee Journal Sentinel, reported that the
Archdiocese of Milwaukee has settled a dispute with OneBeacon
Insurance Co. over defense costs in 13 civil suits stemming from
priests' alleged sexual abuse of minors, mooting a federal judge
ruling that a bankruptcy court mistakenly refused the insurer's
request to lift a stay and send the suit to the Wisconsin Supreme
Court.  According to Law360, the Milwaukee Journal Sentinel quoted
an archdiocese spokesman as saying that the church had reached a
tentative settlement with the insurer.

As previously reported by The Troubled Company Reporter, citing
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, the Wisconsin Supreme Court will be allowed to rule whether
clergy sexual abuse claims are covered by insurance, as a result
of an opinion by U.S. District Judge Rudolph T. Randa in the
Chapter 11 reorganization of the Archdiocese of Milwaukee.

OneBeacon won a lawsuit in state court before the church's
bankruptcy when the judge ruled that sexual abuse claims weren't a
type of "accident" covered by the policy.  Because the archdiocese
had been in bankruptcy three years with the appeal lying fallow,
U.S. Bankruptcy Judge Susan V. Kelley in Milwaukee saw no urgency
in allowing OneBeacon to finish the appeal, but Judge Randa
disagreed.

The appeal is OneBeacon Insurance Co. v. Archdiocese of Milwaukee
(In re Archdiocese of Milwaukee), 14-cv-840, U.S. District Court,
Eastern District Wisconsin (Milwaukee).

                  About Archdiocese of Milwaukee

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

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

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

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

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


ARG IH: S&P Retains 'B' Corp. Credit Rating
-------------------------------------------
ARG IH Competitive Position Revised To Weak; Comparable Rating
Analysis Modifier Revised To Neutral; Ratings Unaffected
NEW YORK (Standard & Poor's) Nov. 24, 2014

Standard & Poor's Ratings Services said that it revised the
competitive position assessment on ARG IH Corp. to "weak" from
"vulnerable".  In conjunction, S&P has revised the comparable
rating analysis modifier to "neutral" from "negative".  S&P's
ratings on ARG IH Corp., including the 'B' corporate credit rating
and stable outlook are unchanged.

RATINGS SCORE SNAPSHOT

Corporate Credit Rating: B/Stable/--

Business Risk: Weak

   -- Country Risk: Very Low Risk
   -- Industry Risk: Intermediate Risk
   -- Competitive Position: Weak

Financial Risk: Highly Leveraged (determined by financial policy)
   -- Cash Flow & Leverage: Aggressive
Anchor: b

Modifiers

   -- Diversification/Portfolio Effect: Neutral (No impact)
   -- Quality of Capital Structure: Neutral (No impact)
   -- Liquidity: Adequate (No impact)
   -- Financial Policy: FS-6 (No further impact)
   -- Management and Governance: Fair (No impact)
   -- Comparable Ratings Analysis: Neutral (No impact)


ASSOCIATED WHOLESALERS: $1.8MM in Claims Switched Hands By Oct. 31
------------------------------------------------------------------
In the Chapter 11 cases of Associated Wholesalers, Inc., AWI
Delaware, Inc., and debtor affiliates, a total of nine claims
switched hands from Oct. 14, 2014, to Oct. 31, 2014:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Argo Partners              Christmas Promotions       $17,333.01

Claims Recovery Group LLC  Tri State Trading          $17,946.50
                           (sexstone Enterprises,
                           Inc)

CRT Special Investments    Allen Harim Foods, LLC    $137,553.14
LLC

CRT Special Investments    Jimmy's Cookies            $46,864.80
LLC

Fair Harbor Capital, LLC   Sweet Sam's Baking         $14,746.40
                           Company

Tannor Partners Credit     Chobani, LLC              $404,167.00
Fund, LP

Tannor Partners Credit     Chobani, LLC              $433,456.54
Fund, LP

Tannor Partners Credit     Chobani, LLC              $769,058.54
Fund, LP

Sierra Liquidity Fund,     Deforest Signs             $10,284.34
LLC

                  About Associated Wholesalers

Founded in 1962 and headquartered in Robesonia, Pennsylvania,
Associated Wholesalers Inc. services 800 supermarkets, specialty
stores, convenience stores and superettes with grocery, meat,
produce, dairy, frozen foods and general merchandise/health and
beauty care products.  AWI, which owns distribution facilities in
Robesonia, Pennsylvania, and York, Pennsylvania, serves the mid-
Atlantic United States.  AWI is owned by its 500 retail members,
who in turn operate supermarkets.  AWI has 1,459 employees.

White Rose Inc. is a food wholesaler and distributor serving the
greater New York metropolitan area.  The company traces its
origins to 1886, when brothers Joseph and Sigel Seeman founded
Seeman Brothers & Doremus to provide grocery deliveries throughout
New York City.  White Rose carries out its operations through
three leased warehouse and distribution centers, two of which are
located in Carteret, New Jersey, and one in Woodbridge, New
Jersey.  White Rose has 777 employees.

Associated Wholesalers and its affiliates sought Chapter 11
bankruptcy protection on Sept. 9, 2014, to sell their assets under
11 U.S.C. Sec. 363 to C&S Wholesale Grocers, absent higher and
better offers.

The Debtors have sought joint administration of their Chapter 11
cases for procedural purposes, seeking to maintain all pleadings
on the case docket for AWI Delaware, Inc., Bankr. D. Del. Case No.
14-12092.

As of the Petition Date, the Debtors owe the Bank Group
(consisting of lenders, Bank of America, N.A., Bank of American
Securities LLC as sole lead arranger and joint book runner, Wells
Fargo Capital Finance, LLC as joint book runner and syndication
agent, and RBS Capita, as documentation agent) an aggregate
principal amount of not less than $131,857,966 (inclusive of
outstanding letters of credit), plus accrued interest.  The
Debtors estimate trade debt of $72 million.  AWI Delaware
disclosed $11,440 in assets and $125,112,386 in liabilities as of
the Chapter 11 filing.

Saul Ewing LLP and Rhoads & Sinon LLP are serving as legal
advisors to the Debtors, Lazard Middle Market is serving as
financial advisor, and Carl Marks Advisors is serving as
restructuring advisor to AWI.  Carl Marks' Douglas A. Booth has
been tapped as chief restructuring officer.  Epiq Systems serves
as the claims agent.

The Official Committee of Unsecured Creditors tapped to retain
Hahn & Hessen LLP as its lead counsel; Pepper Hamilton LLP as its
co-counsel; and Capstone Advisory Group, LLC, together with its
wholly-owned subsidiary Capstone Valuation Services, LLC, as its
financial advisors.


BETHEL DELIVERANCE: Case Summary & 7 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Bethel Deliverance Outreach Ministries, Inc.
        10675 Crain Highway
        Upper Marlboro, MD 20772

Case No.: 14-28029

Chapter 11 Petition Date: November 24, 2014

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Hon. Paul Mannes

Debtor's Counsel: Brett Weiss, Esq.
                  CHUNG & PRESS, LLC
                  6404 Ivy Lane, Suite 730
                  Greenbelt, MD 20770
                  Tel: 301-924-4400
                  Fax: 240-627-4186
                  Email: brett@bankruptcylawmaryland.com

Total Assets: $2.75 million

Total Liabilities: $3.89 million

The petition was signed by Alonzo M. Walker, Sr., president.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/mdb14-28029.pdf


BREITBURN ENERGY: S&P Rates New $2.5 Billion Secured Debt 'BB'
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating and 'B-' unsecured issue rating on Los Angeles-based
BreitBurn Energy Partners L.P. and removed them from CreditWatch,
where S&P placed them with negative implications on July 29, 2014.
The outlook is negative.

At the same time, S&P assigned its 'BB' issue rating to
BreitBurn's new $2.5 billion secured credit facility.  The
recovery rating on the facility is '1', reflecting S&P's
expectation of very high (90% to 100%) recovery in the event of a
payment default.

The affirmation follows BreitBurn's completion of its acquisition
of QR Energy L.P. for about $2.6 billion, including $1.1 billion
of new BreitBurn units issued to QR's unit holders and $1.5
billion of incremental debt.  "We view the partnership's business
risk as modestly improved following the transaction due to the
increased size and geographic diversification of its reserves and
production, and higher exposure to oil and natural gas liquids,"
said Standard & Poor's credit analyst Ben Tsocanos.  "However,
leverage is elevated for the rating due to the incurrence of
additional debt to fund the QR acquisition and increase in
unitholder distributions," he continued.

S&P's assessment of BreitBurn's business risk as "weak"
incorporates the company's limited asset base and production
levels, high operating costs, and limited organic growth prospects
from its historical mature asset base.  These risks are mitigated
somewhat by a high proportion of proved developed reserves in its
asset base, a long reserve life and low production declines, and a
relatively high proportion of oil and natural gas liquids
production, which receive favorable pricing relative to natural
gas.

S&P views BreitBurn's financial risk as "aggressive," reflecting
leverage above 4.5x next year.  S&P's assessment also assumes that
the partnership has negative discretionary cash flow of about $130
million, after capital spending of $300 million and distributions
to unit holders of $440 million.

The negative outlook reflects S&P's expectation that leverage will
rise to a level inconsistent with the rating unless BreitBurn
takes steps to reduce debt or fund growth through external
sources.

S&P could lower ratings if the partnership does not take steps to
reduce leverage and maintain debt to EBITDA below 5x debt.  S&P
could revise the outlook to stable if BreitBurn issues sufficient
preferred or common equity, completes asset sales or secures
external funding such that S&P expects debt leverage to stabilize
below 5x debt to EBITDA, and FFO to debt above 12%.


CAESARS ENTERTAINMENT: Ch. 11 Still Likely Despite Spin-off Plans
-----------------------------------------------------------------
Caesars Entertainment's disclosed plan to spin off the assets at
its debt-laden Caesars Entertainment Operating Company (CEOC)
subsidiary could increase recovery prospects for creditors, as the
unit readies itself for a debt restructuring, according to Fitch
Ratings.

The potentially improved recovery prospects are made possible by
increasing the value of CEOC's assets.  This is accomplished by
valuing a portion of the assets' revenue stream as real estate,
which demands higher multiples relative to the casino's assets'
operating cash flows.

Such a maneuver, if executed, can increase CEOC's value by an
estimated 13% assuming an $840 million aggregate CEOC EBITDA,
15.0x EV/EBITDA multiple on the real estate portion (about half of
CEOC's EBITDA), an 8.0x multiple on the casino's operations
portion and about a 10.0x multiple under a status quo scenario.
With the company's cash, CEOC could be worth roughly $11 billion,
compared with $9.7 billion without the spinoff.

Regional casino operators have considered REIT spinoffs as a way
to maximize shareholder value after Penn National Gaming spun off
its assets into a REIT in November of last year.  Over the past
month, Pinnacle Entertainment announced its intention to follow
suit, and Boyd Gaming disclosed that it is considering a spinoff.
Based on Penn's experience and Pinnacle's stated timeframe, Fitch
thinks it would take Caesars more than a year to execute a
spinoff, after or at the tail-end of the bankruptcy process.

Although a spinoff would create more value at CEOC that can be
spread across creditors, we think getting a quick resolution
through a pre-packaged bankruptcy or a debt exchange remains a
challenging proposition.  The $11 billion estimated value in our
spinoff scenario is still below close to $12 billion of first-lien
debt outstanding at CEOC.  Even if the first-lien bonds are cut to
94 cents, as was disclosed by Caesars under one of its proposals,
that still leaves little to no remaining value for second-lien
investors.  Fitch thinks that a second-lien buy-in is necessary
for an expedient resolution.

The value that could be created by the spinoff could be offset by
the cash burn at CEOC, which had $1.3 billion of excess cash as of
Sept. 30, 2014.  This cash will not last much more than 12 months,
with the company spending about $1.8 billion on interest payments
and likely more than $200 million on maintenance capex over this
time.  December is a heavy cash burn month, with roughly $230
million in coupon payments due to second-lien bond holders that
month.

Ultimately, Fitch continues to hold that a lengthy bankruptcy
process is a more likely route, contrary to the Bloomberg article
from Nov. 12 suggesting that a pre-packaged deal is being
contemplated.  Fitch's view reflects the complexity of Caesars'
capital structure, the subjective nature of valuing CEOC and
pending law suits.  Junior creditors may argue for higher
valuation, and pending lawsuits with junior creditors may need to
be resolved prior to emergence.


CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 6% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
94.19 cents-on-the-dollar during the week ended Friday, November
21, 2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.38 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 600 basis points
above LIBOR to borrow under the facility. The bank loan matures on
Sept. 24, 2020, and carries Moody's B2 rating and Standard &
Poor's CCC- rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


CAESARS ENTERTAINMENT: Bond Trustee Seeks Receiver for Unit
-----------------------------------------------------------
Peg Brickley and Matt Jarzemsky, writing for Daily Bankruptcy
Review, reported that investors ratcheted up the pressure amid
restructuring talks with Caesars Entertainment Corp., seeking the
appointment of a receiver to take over its largest unit and
alleging the hotel and casino company has been plundered into
insolvency.

According to the report, the request for a receiver comes in a
lawsuit filed on Nov. 25 in Delaware's Court of Chancery by UMB
Bank , trustee for a series of senior secured notes.  The legal
action comes on the heels of the issuance of a default notice
linked to a transfer of Harrah's New Orleans casino, intellectual
property tied to a customer rewards program and other assets, the
report said.

Michael Calia, writing for Daily Bankruptcy Review, also reported
that Caesars said that its main operating unit received a notice
of default from UMB Bank relating to senior secured notes, just as
the gambling company was seeking creditor approval for a potential
real-estate investment trust plan.  According to the report,
Caesars called UMB Bank's claims meritless, saying it doesn't
believe a default occurred.

                     About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino
companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.

Harrah's announced its re-branding to Caesar's in mid-November
2010.

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.49
billion in total assets, $28.20 billion in total liabilities and a
$3.71 billion total deficit.

                           *     *     *

As reported by the TCR on April 9, 2013, Moody's Investors Service
downgraded Caesars Entertainment Corporation's Corporate Family
Rating to Caa2.

"The downgrade of Caesars' ratings considers that its same store
EBITDA growth in 2012-2013 has failed to materialize to any
significant degree, and so Caesars' credit metrics have
deteriorated and its free cash flow deficit will be higher than
Moody's previous expectations," stated Moody's analyst Peggy
Holloway.

In the April 10, 2014, edition of the TCR, Standard & Poor's
Ratings Services lowered its corporate credit ratings on Las
Vegas-based Caesars Entertainment Corp. (CEC) and wholly owned
subsidiaries, Caesars Entertainment Operating Co. (CEOC) and
Caesars Entertainment Resort Properties (CERP), as well
as the indirectly majority-owned Chester Downs and Marina, to
'CCC-' from 'CCC+'.  The downgrade reflects S&P's expectation that
Caesars' capital structure is unsustainable, and the amount of
cash the company will burn in 2014 and 2015 creates conditions
under which S&P believes a restructuring of some form is
increasingly likely over the near term absent an unanticipated
significantly favorable change in operating performance.

As reported by the TCR on May 1, 2014, Fitch Ratings had
downgraded the Issuer Default Ratings (IDRs) of Caesars
Entertainment Corp (CEC) and Caesars Entertainment
Operating Company (CEOC) to 'CC' from 'CCC'.


CDW LLC: S&P Assigns 'B+' Rating on $575MM Sr. Unsecured Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating and '6' recovery rating to CDW LLC's proposed $575 million
senior unsecured notes due 2024.  The '6' recovery rating
indicates S&P's expectation of negligible (0%-10%) recovery in the
event of a payment default.  Proceeds from the proposed unsecured
notes are expected to be used to redeem a portion of CDW's 8.5%
senior unsecured notes due 2019.

S&P's 'BB' corporate credit and positive outlook on CDW remain
unchanged.

RATINGS LIST

CDW LLC
Corporate Credit Rating               BB/Positive/--

New Rating

CDW LLC
$575 million notes due 2024
Senior Unsecured                      B+
  Recovery Rating                      6


CE GENERATION: Fitch Affirms 'BB-' Rating on $400MM Sr. Notes
-------------------------------------------------------------
Fitch Ratings has affirmed the 'BB-' rating for CE Generation,
LLC's (CE Gen) $400 million senior notes ($135.8 million
outstanding) due in 2018.  The Rating Outlook was revised to
Stable from Negative.

KEY RATING DRIVERS

The rating reflects susceptibility to unfavorable market
conditions and restricted distributions from portfolio projects
with structurally senior outstanding debt.  The Outlook has been
revised to Stable based on parent Berkshire Hathaway Energy
Company's (BHE, rated 'BBB+' with a Negative Watch by Fitch) track
record of providing equity support to fund capital expenditures
(capex) and meet debt service shortfalls.  The rating considers
the likelihood that BHE will continue to provide equity support as
needed for the remaining four-year debt term.

Operations Supported by Sponsor Investment -- Operation Risk:
Midrange

CE Gen's geothermal and natural gas projects have stable operating
histories that employ proven technologies.  The parent, BHE, is
contributing equity to fund a robust multi-year capex plan to
support long-term operations.

Stable Resource, Adequate Supply -- Supply Risk: Midrange

The geothermal resource has been relatively stable since the
projects began commercial operation and it is expected to be
viable beyond 2040, suggesting there is residual value for the
parent beyond the term of the debt.  The natural gas assets
procure fuel via tolling or marketing agreements.

Exposure to Volatile Energy Pricing -- Revenue Risk: Weaker

Volume risk is mitigated through power purchase agreements (PPAs),
primarily with Southern California Edison (SCE)
('A-'; Rating Outlook Stable).  However, the majority of energy
revenues are exposed to variable Short-Run-Avoided-Cost (SRAC)
pricing, introducing substantial price risk to cash flow.  Many
projects are also exposed to non-reimbursed curtailment by SCE or
the transmission provider.

Subordinated Position -- Debt Structure: Weaker

CE Gen's cash flow is reliant on distributions from the Salton Sea
Funding Corporation (SSFC), a portfolio of geothermal projects
which has semi-annually amortizing debt that is structurally
senior to CE Gen.  SSFC's distribution trigger is relatively high
(1.50x), and ongoing cash traps have led to financial pressure at
CE Gen.

Weakened Financial Profile

The average consolidated DSCR from 2015 to 2018 hovers near
breakeven levels in Fitch's rating case. This suggests that CE
Gen's ability to meet debt obligations is vulnerable to
deterioration in the operating environment. If operating cash flow
is insufficient to cover debt payments, CE Gen may need to rely on
nonobligatory sponsor equity injections or access its debt service
reserve to avoid default.

Peer Comparison

The assets within Coso Geothermal Holdings, LLC ('C') have
suffered substantially greater resource depletion than those
within the CE Gen portfolio.  OrCal Geothermal Inc. ('BB' Rating
Outlook Stable) has less exposure to PPA price risk and has no
structural subordination.  FirstLight Hydro Generating Company
('BB-'; Rating Outlook Negative) is a portfolio of projects with
revenue price risk and coverage ratios consistent with a lower
rating, but buoyed by demonstrated sponsor support from a higher
rated owner.

RATING SENSITIVITIES

Negative: A departure from the precedent of equity injections to
meet debt payment shortfalls would signal a change in the
sponsors' view of CE Gen's long-term value and result in a
downgrade.

Negative: Further deterioration in the operating environment due
to persistently low PPA prices, reduced geothermal energy
generation, or long duration curtailment suggesting coverage
levels below rating-case expectations could trigger a downgrade.

SECURITY

The senior notes are secured by all assets of CE Gen, including
the residual cash flow of its portfolio of 13 energy projects, as
well as equity interests in the project companies, and all
operational and depository accounts.

CREDIT UPDATE

The rating affirmation and outlook revision reflect continued
parent equity contributions to support capex and portfolio debt
service.  Parent BHE continues to provide equity in support of
drilling and production enhancements to ensure long-term stable
operations.  While operational performance is improving, low PPA
prices and ongoing transmission curtailment have limited net
operating income.  There have been no distributions to CE Gen from
the geothermal assets held within the SSFC portfolio since 2013,
and CE Gen will only meet its 2014 semi-annual debt payments with
equity support from BHE.

Debt service coverage at the CE Gen level was 0.14x in June 2014,
and Fitch projects a DSCR of 0.17x for the 2014 calendar year
based on operating cash flow.  Without BHE's support of
approximately $30 million of cash this year, CE Gen would have
needed to access its LC-funded reserve to meet debt obligations.
Looking forward, Fitch expects further equity support may be
necessary for CE Gen to avoid default.  Under Fitch's rating case,
which incorporates unfavorable PPA pricing (using a low gas price
scenario) to stress portfolio cash flow, DSCRs dip below breakeven
levels in two of the remaining four years of the debt term.

Fitch believes it likely that BHE will continue to fund capex and
contribute equity as needed to meet debt service obligations over
a relatively short remaining four-year debt term.  Including the
expected equity contribution in December 2014, owners will have
contributed $88 million to both CE Gen and SSFC in the past two
years.

BHE has demonstrated its intention to retain the assets beyond
debt maturity through its June 2014 purchase of TransAlta's 50%
ownership interest in CE Gen and its ongoing efforts to re-
contract portfolio assets.  While BHE has not provided an equity
contribution agreement, these actions establish a track record of
support and indicate that BHE is unlikely to allow CE Gen to
default.  A lack of support from BHE to fund debt service
shortfalls would likely trigger a downgrade.

CE Gen is a special purpose holding company created solely to
issue the senior secured notes and hold the equity interests in 13
generating assets with an aggregate net ownership interest of 769
megawatts.  CE Gen's 10 geothermal facilities are located in the
Imperial Valley near Calipatria, California, and its three gas
fired facilities are located in Plattsburg, New York (Saranac);
Big Springs, Texas (Power Resources); and Yuma, Arizona (Yuma),
respectively.  CE Gen is 100% owned by BHE.


CEDAR FAIR: S&P Affirms 'BB' CCR; Outlook Stable
------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on Sandusky, Ohio-based theme park operator Cedar
Fair L.P.  The rating outlook is stable.

At the same time, S&P affirmed its 'BBB-' issue-level rating on
the company's $885 million senior credit facility, consisting of a
$255 million revolver due 2018 and a $619 million term loan due
2020.  The recovery rating on the facility remains '1', indicating
S&P's expectation for very high (90% to 100%) recovery for lenders
in the event of a payment default

In addition, S&P affirmed its 'BB-' issue-level rating on Cedar
Fair's $450 million senior unsecured notes due 2024 and $500
million senior unsecured notes due 2021.  The recovery rating on
these notes remains '5', indicating S&P's expectation for modest
(10% to 30%) recovery for lenders in the event of a payment
default.

"Our 'BB' corporate credit rating on Cedar Fair reflects our
assessment of the company's business risk profile as
"satisfactory" and our assessment of the company's financial risk
profile as "significant," according to our criteria," said
Standard & Poor's credit analyst Shivani Sood.

S&P's assessment of Cedar Fair's business risk profile as
satisfactory reflects the company's good geographic diversity,
with 11 amusement parks and three water parks in nine states, as
well as the relatively high barriers to entry in the amusement
park industry.  The company's comparatively high EBITDA margin and
relatively low volatility of profitability, when compared with
companies in the leisure sector, also contribute to S&P's
assessment.  Partially offsetting these factors is Cedar Fair's
reliance on consumer discretionary spending and the high level of
competition that exists in the leisure space for consumer
discretionary time and income.  High capital expenditure
requirements inherent in the amusement park industry also weigh on
S&P's business risk assessment.

S&P's assessment of Cedar Fair's financial risk profile as
significant reflects S&P's expectation that improving consumer
spending should result in the company sustaining leverage below 4x
and FFO to debt around 20%.  These measures also incorporate S&P's
expectation that management will not borrow significantly to
return capital to shareholders.  S&P also expects EBITDA interest
coverage to remain good for the rating in the 5x area over S&P's
forecast period.  The stable outlook reflects S&P's expectation
for good operating performance and strong liquidity over the
forecast period, with adjusted leverage in the mid-3x area and FFO
to debt in the 20% area through 2016.  S&P expects EBITDA interest
coverage to be good at above 5x over this period.

S&P would consider lower ratings if it expects operating
performance to materially deteriorate or if Cedar Fair's financial
policy becomes more aggressive, resulting in leverage above 4x.

Higher ratings are unlikely at this time and would require a
meaningful improvement in EBITDA, as well as a change in the
company's financial policy that would sustain adjusted leverage
below 3x.


COLDWATER CREEK: Wood County Clears Out Mineral Wells Facility
--------------------------------------------------------------
Jeff Jenkins at MetroNews reports that the Wood County Development
Authority cleared out the closed Coldwater Creek distribution
facility in Mineral Wells, Wester Virginia, over the weekend,
having gift boxes, shopping bags, office items and many other
items that the Company left behind up for purchase Saturday.

Clearing out the facility can help in the ongoing efforts to get
another business to move in, MetroNews relates, citing State
Commerce Secretary Keith Burdette.  "There are two very interested
parties," MetroNews quoted Mr. Burdette as saying.

                      About Coldwater Creek

Coldwater Creek is a multi-channel retailer that offers its
merchandise through retail stores across the country, its catalog
and its e-commerce Web site, http://www.coldwatercreek.com/
Originally founded in Sandpoint, Idaho in 1984 as a direct,
catalog-based marketer, Coldwater evolved into a multi-channel
specialty retailer operating 334 premium retail stores, 31 factory
outlet stores and seven day spa locations throughout the United
States.

As of the bankruptcy filing, the Debtors domestically employ a
total of approximately 5,990 employees throughout their retail
locations, corporate headquarters and distribution, design and
call centers.

Coldwater Creek Inc. and its debtor-affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10867) on
April 11, 2014, to liquidate their assets.

Coldwater Creek Inc. disclosed assets of $721,468,388 plus
undetermined amount and liabilities of $425,475,739 plus
undetermined amount.  Affiliate Coldwater Creek U.S. Inc.
estimated $100 million to $500 million in assets and liabilities.

The Debtors have drawn $37.5 million and have approximately $10
million in letters of credit outstanding under a senior secured
credit facility (ABL facility) provided by lenders led by Wells
Fargo Bank, National Association, as agent.  The Debtors also owe
$96 million, which includes accrued interest and approximately $23
million representing a prepayment premium payable, under a term
loan from lenders led by CC Holding Agency Corporation, as agent.
Aside from the funded debt, the Debtors have accumulated a
significant amount of accrued and unpaid trade and other unsecured
debt in the normal course of their business.

The Debtors have tapped Young Conaway Stargatt & Taylor, LLP, and
Shearman & Sterling LLP as attorneys, Perella Weinberg Partners LP
as financial advisor, Alvarez & Marsal as restructuring advisor,
and Prime Clerk LLC as claims and noticing agent.

The U.S. Trustee for Region Three named seven creditors to serve
on the official committee of unsecured creditors.  Lowenstein
Sandler LLP represents the Committee.

CWC Liquidation Inc., formerly known as Coldwater Creek Inc., et
al., notified the Bankruptcy Court that the effective date of its
Modified Third Amended Joint Plan of Liquidation occurred on Sept.
26, 2014.


COMPUWARE HOLDINGS: S&P Assigns Prelim. 'B' CCR; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its
preliminary 'B' corporate credit rating to Detroit-based Compuware
Holdings LLC.  The outlook is stable.

At the same time, S&P assigned a preliminary 'BB-' issue-level
rating and a preliminary '1' recovery rating to the company's
proposed $105 million senior secured asset sale facility.  The '1'
recovery rating indicates S&P's expectation for very high (90% to
100%) recovery of principal in the event of a default.  S&P
assigned a preliminary 'B' issue-level rating and a preliminary
'3' recovery rating to the company's proposed $1.35 billion senior
secured first-lien term loan.  The '3' recovery rating indicates
S&P's expectation for meaningful (50% to 70%) recovery of
principal in the event of a default.  S&P also assigned a
preliminary 'CCC+' issue-level rating and preliminary '6' recovery
rating to the company's $550 million second-lien term loan.  The
'6' recovery rating indicates S&P's expectation for negligible (0%
to 10%) recovery of principal in the event of a default.

"The ratings reflect our assessment of Compuware's business risk
profile as 'weak,' incorporating its relatively narrow market
focus in the large global software market, declining revenues in
the company's higher-margin mainframe segment, and historically
weak, but improving, profitability," said Standard & Poor's credit
analyst Martha Toll-Reed.

Good growth and an improved market position in the application
performance management (APM) segment, a high level of
contractually recurring revenues, and a diversified customer base
partially offset these factors.  The ratings also reflect S&P's
assessment of Compuware's financial risk profile as "highly
leveraged," with pro forma fiscal 2015 adjusted leverage in excess
of 12x, or in excess of 8x when S&P excludes its treatment of non-
common equity as debt.

The stable outlook reflects S&P's expectation that continued
growth in APM revenues and high recurring mainframe revenues will
enable Compuware to generate modest revenue growth in the near
term.  S&P expects the company to successfully integrate Keynote
and realize cost savings and synergies through fiscal 2016.  In
addition, S&P expects the company to maintain positive annual FOCF
(excluding transaction-related expenses).  The rating does not
incorporate any near-term acquisitions following the proposed
transaction.

Compuware's highly leveraged financial profile, and S&P's
expectation that the company's financial sponsor ownership will
preclude sustained deleveraging over the intermediate term,
constrain the potential for favorable rating actions.

S&P could lower the rating if the company faces significant
integration issues, an accelerated decline in mainframe revenues,
or increased pricing pressure, leading to a decline in total
revenues and EBITDA levels and negative cash flow (excluding
transaction costs), such that S&P views liquidity as less than
adequate.


CONAGRA FOODS: Fitch Affirms 'BB+' Rating on Subordinated Notes
---------------------------------------------------------------
Fitch Ratings has affirmed the ratings for ConAgra Foods, Inc. and
its subsidiary, Ralcorp Holdings, Inc. as:

ConAgra Foods, Inc.

   -- Long-term Issuer Default Rating (IDR) at 'BBB-';
   -- Senior unsecured notes at 'BBB-';
   -- Bank credit facility at 'BBB-';
   -- Subordinated notes at 'BB+';
   -- Short-term IDR at 'F3';
   -- Commercial paper at 'F3'.

Ralcorp Holdings, Inc.

   -- Long-term IDR at 'BBB-';
   -- Senior unsecured notes at 'BBB-'.

The Rating Outlook is Stable.

KEY RATING DRIVERS

Leverage Reduction Modestly Slower than Expected: ConAgra's
ratings reflect the company's elevated leverage following the
Jan. 29, 2013 primarily debt-financed acquisition of Ralcorp for
$6.8 billion, including assumed debt.  Current leverage remains
high for the rating level and slightly behind Fitch's expectations
due to weak operating performance in its branded and private label
business discussed below.  Total debt to EBITDA was 3.8x for the
latest 12 months (LTM) ended Aug. 24, 2014, operating EBITDA to
gross interest expense was 5.9x, and funds from operations (FFO)
adjusted leverage was 4.9x.  The company's progress toward debt
reduction, continued commitment to deleverage, ample free cash
flow (FCF) generation and liquidity support the ratings.  ConAgra
has maintained its current dividend and kept share repurchases and
acquisitions very modest in order to focus on debt reduction.

Expectations for Declining Leverage: Fitch estimates that
ConAgra's leverage should decline to the low 3x level by the end
of fiscal 2015 mainly through debt reduction combined with slight
EBITDA improvement.  If ConAgra falls short of this leverage
reduction goal, Fitch anticipates that the company would continue
to reduce debt to maintain leverage near 3.0x or below.  ConAgra
is prioritizing its FCF to repay approximately $2 billion of debt
since the Ralcorp deal closed through fiscal 2015.  The company
has completed approximately $1.5 billion debt reduction so far,
including about $400 million in fiscal 2013, $600 million in
fiscal 2014 and $500 million through the first quarter of fiscal
2015.  Fitch estimates that the remainder of the debt reduction
should be completed from FCF this fiscal year.  The first quarter
debt reduction was from Ardent Mills joint venture net after tax
proceeds of approximately $530 million.  ConAgra contributed its
flour milling business, which generated approximately $1.8 billion
annual sales, in exchange for a 44% equity interest in Ardent
Mills in May 2014.

Improving Operations Support Outlook: The ratings and Outlook
factor in gradual improvement in operating performance in each
segment in fiscal 2015.  Fitch is looking for the company to
achieve annual sequential improvement to flat volume this fiscal
year in Consumer Foods, versus a three percent volume decline in
fiscal 2014.  This factors in volume improvement in core brands
including Healthy Choice, Chef Boyardee and Orville Redenbacher,
which struggled in fiscal 2014, along with expansion in faster
growing channels.  The company also expects Private Brands to
improve volume, sales and profit this fiscal year after
substantial deterioration in the previous year.  ConAgra will be
lapping price concessions in Private Brands, and has fixed service
and execution issues.  In the Commercial Foods segment ConAgra
expects lower costs with a more normal potato crop beginning this
quarter, versus weather-reduced yields last year.  The company
will also lap the loss of a significant foodservice potato
customer, most of which has been replaced with new business.

Synergies Achievable: ConAgra expects to generate Ralcorp-related
annual pre-tax cost savings of $300 million by the end of fiscal
2017, driven by supply chain and other efficiencies.  The savings
seem achievable based on other industry transactions.  The company
plans to make meaningful progress on Ralcorp related productivity
and synergies in fiscal 2015 estimated at $125 million to $150
million, mostly driven by procurement.  Nonetheless, profitability
in this segment will be below Fitch's and the company's original
expectations over the next few years, as reflected by the $605
million goodwill impairment taken in fiscal 2014.

Private-Label Scale is Long-Term Positive: ConAgra is one of the
largest packaged food companies in North America, with $16 billion
annual net sales.  In addition to a sizeable branded food
presence, ConAgra should benefit over the long term from greater
private-label scale, as $4.2 billion annual sales makes it the
largest private-label food producer in the U.S.  ConAgra intends
to capitalize on the favorable trends in private-label growth over
the long term, after resolving recent service-related issues.

Ample Liquidity, Manageable Maturities: ConAgra maintains an
undrawn $1.5 billion revolving credit facility expiring Sept. 14,
2018 that provides backup to its commercial paper (CP) program.
The company had $545.2 million CP and $133.7 million cash, which
was mainly outside the U.S., at Aug. 24, 2014.  In the first
quarter of fiscal 2015, the company repaid the $900 million
balance on its term loan and terminated the facility.  ConAgra
also issued $550 million FRNs due in fiscal 2017 and purchased
$500 million of its notes across various maturities.  The
revolving credit facility contains covenants that consolidated
debt must not exceed 70% of consolidated capital during the first
four quarters commencing Jan. 29, 2014, then 65% thereafter, and
the company's fixed charge coverage ratio must be greater than
1.75x on a rolling four quarter basis.  ConAgra's long-term debt
maturities primarily consist of $1 billion due in fiscal 2016 and
$550 million due in fiscal 2017.

RATING SENSITIVITIES

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

   -- If there is fundamental deterioration of ConAgra's ongoing
      revenues or operating earnings, or remaining leverage
      reduction does not occur, possibly due to shortfalls in cash
      flow due to lack of resolving the private label and/or core
      brand issues, such that leverage (total debt-to-operating
      EBITDA) remains at or above the mid-3.0x range.

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

   -- A positive rating action is not anticipated in the near to
      intermediate term due to the company's high acquisition
      related leverage and recent operational issues.

   -- In the long term, a positive rating action could be
      supported by substantial and growing FCF generation,
      consistent positive volume growth in all segments
      demonstrating that operational issues have been resolved,
      along with maintaining leverage in the mid-2x range.


CONNACHER OIL: Moody's Lowers CFR to Ca; Outlook Negative
---------------------------------------------------------
Moody's Investors Service lowered Connacher Oil and Gas Limited's
Corporate Family Rating (CFR) to Ca from Caa2, Probability of
Default Rating to Ca-PD from Caa2-PD, and $900 million second lien
senior secured notes to Ca from Caa3. The SGL-4 Speculative Grade
Liquidity rating is affirmed. The outlook remains negative.

"The lowering of the ratings reflects Moody's view that Connacher
will be unable to meet all of its cash requirements in 2015," said
Paresh Chari, Moody's Analyst. "We expect Connacher will need to
restructure its capital structure within the next 12 months."

Downgrades:

Issuer: Connacher Oil and Gas Limited

  Probability of Default Rating, Downgraded to Ca-PD from Caa2-PD

  Corporate Family Rating, Downgraded to Ca from Caa2

  Senior Secured Regular Bond/Debenture, Aug 1, 2018, Downgraded
  to Ca(LGD4) from Caa3(LGD4)

  Senior Secured Regular Bond/Debenture, Aug 1, 2019, Downgraded
  to Ca(LGD4) from Caa3(LGD4)

Outlook Actions:

  Outlook, Remains Negative

Affirmations:

  Speculative Grade Liquidity Rating, Affirmed SGL-4

Ratings Rationale

Connacher's Ca Corporate Family Rating (CFR) reflects its weak
liquidity position, very high leverage and debt service cost,
small production base and exposure to light/heavy differentials.
Connacher is not able to meet its cash interest payments and
maintenance capex with EBITDA.

Connacher's SGL-4 Speculative Grade Liquidity Rating reflects weak
liquidity. As of September 30, 2014 Connacher had C$83 million in
cash and C$8 million available under its C$30 million revolving
credit facility due December 31, 2016. Connacher does not have the
liquidity to fund Moody's expected negative free cash flow of
C$110 million from September 30, 2015 to December 31, 2015.
Moody's expect Connacher to remain in compliance with its sole
financial covenant through this period. The Connacher's assets are
pledged under the revolver, term loan and second lien notes.
Connacher has no debt maturities until 2018.

In accordance with Moody's Loss Given Default Methodology the
notching of the second lien notes at Ca, the same as the Ca CFR,
reflects their predominance in the capital structure.

The negative outlook reflects Moody's view that Connacher's
capital structure is unsustainable and will likely need to be
restructured.

A downgrade will occur if Connacher files for creditor protection
or restructures its debt in a manner economically detrimental to
the full claims of its lenders.

Connacher is a small exploration & production company that
operates two steam assisted gravity drainage oil sands projects in
Alberta, currently producing about 13,400 barrels per day net of
royalties.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


CONNIE STEVENS: Files Chapter 11 Plan to be Funded by Home Sale
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Connie Stevens, the bankrupt actress and
singer popular in the 1960s, filed a reorganization plan that
contemplates the sale of at least one of her three residences to
satisfy about $13.3 million in debt.

According to the report, Stevens said she anticipates funding the
full-payment plan with net proceeds from the sale of her 12,000
square-foot home located in the Holmby Hills neighborhood of Los
Angeles.

The case is In re Connie Stevens, 14-bk-21156, U.S. Bankruptcy
Court, Central District of California (Los Angeles).


DAHL'S FOODS: Section 341(a) Meeting Scheduled for December 4
-------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Foods, Inc.,
d/b/a Dahl's Foods, will be held on Dec. 4, 2014, at 1:30 p.m. at
Des Moines Room 783 Federal Building.  Proofs of claim are due by
March 4, 2015.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                         About Dahl's Foods

Dahl's Foods owns and operates 10 full-line grocery stores in and
around the Des Moines, Iowa area.  Since the 1970s, Dahl's has
been employee owned pursuant to an ESOP with 97% of the ownership
held by the ESOP.  The remaining 3% is owned by certain past and
present members of management and other former employees.
Individual grocery store square footage ranges from 28,820 to
70,000 and averages 55,188.  Dahl's employs over 950 people.  For
the 52 weeks ended June 28, 2014, Dahl's generated sales of $136.8
million.

Foods, Inc. dba Dahl's Foods, Dahl's Food Mart, Inc., and Dahl's
Holdings I, LLC, sought bankruptcy protection (Bankr. S.D. Iowa
Lead Case No. 14-02689) in Des Moines, Iowa on Nov. 9, 2014, with
a deal to sell to Associated Wholesale Grocers Inc. for
$4.8 million.

The Debtors have tapped Bradshaw, Fowler, Proctor & Fairgrave,
P.C., as bankruptcy counsel, Crowe & Dunlevy, P.C., as special
reorganization and conflicts counsel, and The Food Partners, LLC,
as financial advisor and investment banker.

Associated Wholesale Grocers, Inc., the Debtors' prepetition
lender, committed to provide a senior secured, super-priority term
credit facility of up to $6,649,623.  As of the Petition Date,
Debtors owe AWG the aggregate amount of approximately $3.2
million.  AWG is represented by Christopher J. Rockers, Esq., at
Husch Blackwell LLP, in Kansas City, Missouri.


DENDREON CORP: Employs Prime Clerk as Admin. Advisor
----------------------------------------------------
Dendreon Corporation, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Prime
Clerk LLC as administrative advisor to provide, among other
things, the following services:

   (a) Assist with, among other things, solicitation, balloting
       and tabulation of votes, and prepare any related reports,
       as required in support of confirmation of a Chapter 11
       plan, and in connection with those services, process
       requests for documents from parties in interest, including,
       if applicable, brokerage firms, bank back-offices and
       institutional holders;

   (b) Prepare an official ballot certification and, if necessary,
       testify in support of the ballot tabulation results;

   (c) Assist with the preparation of the Debtors' schedules of
       assets and liabilities and statements of financial affairs
       and gather data in conjunction therewith;

   (d) Provide a confidential data room, if requested;

   (e) Manage and coordinate any distributions pursuant to a
       Chapter 11 plan; and

   (f) Provide other processing, solicitation, balloting and other
       administrative services as may be requested from time to
       time by the Debtors, the Court or the Office of the Clerk
       of the Bankruptcy Court.

Prime Clerk will be paid its customary hourly rates and will be
reimbursed for any necessary out-of-pocket expenses.

Michael J. Frishberg, co-president and chief operating officer of
Prime Clerk LLC, assures the Court that his firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

A hearing on the employment application is scheduled for 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.

The U.S. Trustee for Region 3 has appointed five members to the
Official Committee of Unsecured Creditors.


DENDREON CORP: Has Interim Approval of Equity Trading Protocol
--------------------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware gave Dendreon Corporation, et al., interim authority
to establish notice and hearing procedures for trading in equity
securities in Dendreon Corp.

As previously reported by The Troubled Company Reporter, the
Debtors have generated, and are currently generating, a
significant amount of significant net operating loss carryforwards
and other tax attributes for U.S. federal income tax purposes. For
example, as of Dec. 31, 2013, the Debtors had approximately $1.8
billion of NOLs that were available to offset taxable income and
approximately $25 million of research credits available to offset
tax liability.

The Debtors stated that because an "ownership change" may
negatively impact their utilization of their NOLs, the Debtors
proposed the procedures under which any "substantial shareholder"
-- entity that has direct or indirect beneficial ownership of owns
at least 4.5% of all issued and outstanding shares -- equal to, as
of September 30, 2014, approximately 7,148,678 shares -- of the
common stock of Dendreon -- must serve and file a declaration on
or before the later of (i) 20 calendar days after the date of the
notice of the order approving the procedures and  (ii) 10 days
after becoming a substantial shareholder.

The final hearing on the motion is set for Dec. 9, 2014, at 3:30
p.m. (prevailing Eastern Time).  Any objections must be filed no
later than seven days prior to the final hearing.

                          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.

The U.S. Trustee for Region 3 has appointed five members to the
Official Committee of Unsecured Creditors.


DENDREON CORP: Court Enforces Sec. 362 Stay in Ch. 11 Cases
-----------------------------------------------------------
Dendreon Corporation, et al., sought and obtained an order from
Judge Peter Walsh of the U.S. Bankruptcy Court for the District of
Delaware providing that the Debtors are afforded the protections
of the automatic stay under Section 362 of the Bankruptcy Code and
the bankruptcy termination provision under Section 365.

The automatic stay, according to Judge Walsh, is applicable to the
Debtors and the property of the estates, wherever located, and all
parties are stayed from bringing actions against the Debtors or
property of the estates in this or any other jurisdiction.

                          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.

The U.S. Trustee for Region 3 has appointed five members to the
Official Committee of Unsecured Creditors.


DENDREON CORP: Section 341(a) Meeting Set for December 8
--------------------------------------------------------
A meeting of creditors in the bankruptcy case of Dendreon
Corporation is scheduled for Dec. 8, 2014, at 2:00 p.m.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                          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.

The U.S. Trustee for Region 3 has appointed five members to the
Official Committee of Unsecured Creditors.


DETROIT, MI: Developer Cancels Plan to Buy Blighted Properties
--------------------------------------------------------------
The Detroit Free Press reported that developer Herb Strather said
he withdrew his offer to buy and develop 6,000 parcels of Detroit
land because Wayne County was putting impractical conditions on
his plans.  Still, Strather insisted he is "100%" going to
redevelop the properties that he and Texas-based partner Eco
Solutions bid $3.18 million to acquire from the Wayne County
Treasurer's tax-foreclosure auction, the report related.

                   About the City of Detroit

The City of Detroit, Michigan, weighed down by more than $18
billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit estimated
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by lawyers
at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The City's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

The Hon. Steven Rhodes oversees the bankruptcy case.  Detroit is
represented by David G. Heiman, Esq., and Heather Lennox, Esq., at
Jones Day, in Cleveland, Ohio; Bruce Bennett, Esq., at Jones Day,
in Los Angeles, California; and Jonathan S. Green, Esq., and
Stephen S. LaPlante, Esq., at Miller Canfield Paddock and Stone
PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.

A nine-member official committee of retired workers was appointed
in the case.  The Retirees' Committee is represented by Dentons US
LLP.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.

The Troubled Company Reporter, on Nov. 10, 2014, citing The New
York Times' DealBook, reported that U.S. Bankruptcy Judge Steven
Rhodes in Michigan approved the city of Detroit's plan of debt
adjustment.

                           *     *     *

Standard & Poor's Ratings Services, on Sept. 5, 2014, raised its
ratings on five bond CUSIPs of Detroit's outstanding sewerage
disposal and water supply revenue bonds to 'BBB+' from 'D' as S&P
indicated it would do in its report dated Aug. 28, 2014.  The
outlook is stable.

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


DETROIT, MI: Judge to Set Start Date Soon for Ch. 9 Exit Measures
-----------------------------------------------------------------
Lisa Lambert, writing for Reuters, reported that U.S. Bankruptcy
Judge Steven Rhodes could set a date for the cost- and debt-
cutting measures to take effect.

According to the report, Judge Rhodes also reviewed plans for
assessing the reasonableness of fees that outside consultants
charged Detroit.  A lawyer for Detroit told Judge Rhodes that the
city needs at least until January to resolve questions about the
fees' reasonableness, while one of the lawyers who represented the
city in the bankruptcy case pressed for a speedier resolution, the
report related.

                   About the City of Detroit

The City of Detroit, Michigan, weighed down by more than $18
billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit estimated
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by lawyers
at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The City's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

The Hon. Steven Rhodes oversees the bankruptcy case.  Detroit is
represented by David G. Heiman, Esq., and Heather Lennox, Esq., at
Jones Day, in Cleveland, Ohio; Bruce Bennett, Esq., at Jones Day,
in Los Angeles, California; and Jonathan S. Green, Esq., and
Stephen S. LaPlante, Esq., at Miller Canfield Paddock and Stone
PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.

A nine-member official committee of retired workers was appointed
in the case.  The Retirees' Committee is represented by Dentons US
LLP.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.

The Troubled Company Reporter, on Nov. 10, 2014, citing The New
York Times' DealBook, reported that U.S. Bankruptcy Judge Steven
Rhodes in Michigan approved the city of Detroit's plan of debt
adjustment.

                           *     *     *

Standard & Poor's Ratings Services, on Sept. 5, 2014, raised its
ratings on five bond CUSIPs of Detroit's outstanding sewerage
disposal and water supply revenue bonds to 'BBB+' from 'D' as S&P
indicated it would do in its report dated Aug. 28, 2014.  The
outlook is stable.

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


ELGIN BAYLOR LUMPKIN: Prepares to File for Bankruptcy
-----------------------------------------------------
Taj Rani, writing for Bet.com, reported that after an extremely
quiet divorce from his now ex-wife, Sole, Ginuwine, whose real
name is Elgin Baylor Lumpkin, is one step away from filing for
bankruptcy.  According to the R&B crooner's lawyer, Bruce Beckner,
the singer is broke and has accrued debts that he's currently
unable to pay, Bet.com reported, citing New York Daily News.


EVERGREEN TANK: S&P Puts 'B-' CCR on CreditWatch Positive
---------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on Houston-
based equipment rental provider Evergreen Tank Solutions Inc.,
including the 'B-' corporate credit rating, on CreditWatch with
positive implications.

"The rating action follows the announcement that higher-rated
Mobile Mini Inc. [BB/Watch Neg/--], a provider of portable storage
and mobile office leasing, plans to acquire Evergreen from private
equity firm Odyssey Investment Partners for about $405 million,"
said Standard & Poor's credit analyst Jaissy Lorenzo.  S&P expects
that all of Evergreen's outstanding debt that S&P rates could be
repaid or refinanced as part of the transaction.  The transaction
is subject to regulatory approval.

The rating on Evergreen reflects S&P's assessment of the company's
business risk profile as "vulnerable," characterized by its
presence in the cyclical, fragmented, and capital-intensive
equipment rental market.  The company has a narrow scope of
operations and limited geographic diversity.  S&P assess
Evergreen's financial policy as "financial sponsor-6" given
private equity sponsor Odyssey Investment Partners' current
ownership of the company and its aggressive financial policy, and
expect that the company will maintain credit metrics consistent
with a "highly leveraged" financial risk profile and "less than
adequate" liquidity.  The company rents liquid and solid storage
containers and provides related services to refineries, chemical
companies, and oil and gas field service companies.  The company
also generates a minimal amount of sales from new equipment.

S&P plans to resolve the CreditWatch placement after the
transaction closes.  At that time, S&P could raise or withdraw the
ratings on the company.


FANNIE MAE: Official Details Plans on Low-Down-Payment Mortgages
----------------------------------------------------------------
Peter Eavis, writing for The New York Times' DealBook, reported
that the chief executive of Fannie Mae provided some crucial
details on what the government's program on the expansion of the
availability of mortgages with low down payments would look like.
According to the report, the executive, Timothy J. Mayopoulos,
said that he expected Fannie's low-down-payment mortgages to cost
the borrower less than similar loans available under certain other
government programs, but he also said that Fannie's loans would
require private mortgage insurance on top of the down payment, a
stipulation that might, in theory, limit the size of the program.

                        About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9 percent of its
common stock, and Treasury has made a commitment under a senior
preferred stock purchase agreement to provide Fannie with funds
under specified conditions to maintain a positive net worth.

Fannie Mae reported net income of $83.98 billion on $117.54
billion of total interest income for the year ended Dec. 31, 2013,
as compared with net income of $17.22 billion on $129.19 billion
of total interest income for the year ended Dec. 31, 2012.

As of March 31, 2014, the Company had $3.22 trillion in total
assets, $3.21 trillion in total liabilities and $8.09 billion in
total equity.

                          Conservatorship

Fannie Mae has operated under the conservatorship of the Federal
Housing Finance Agency ("FHFA") since Sept. 6, 2008.  Fannie Mae
has not received funds from Treasury since the first quarter of
2012.  The funding the company has received under its senior
preferred stock purchase agreement with Treasury has provided the
company with the capital and liquidity needed to fulfill its
mission of providing liquidity and support to the nation's housing
finance markets and to avoid a trigger of mandatory receivership
under the Federal Housing Finance Regulatory Reform Act of 2008.
For periods through March 31, 2014, Fannie Mae has requested
cumulative draws totaling $116.1 billion and paid $121.1 billion
in dividends to Treasury.  Under the senior preferred stock
purchase agreement, the payment of dividends cannot be used to
offset prior draws.  As a result, Treasury maintains a liquidation
preference of $117.1 billion on the Company's senior preferred
stock.


FE&J INC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: FE&J, Inc.
        5065 Pacific Boulevard
        Los Angeles, CA 90058

Case No.: 14-31207

Chapter 11 Petition Date: November 12, 2014

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Hon. Sheri Bluebond

Debtor's Counsel: Robert M Aronson, Esq.
                  LAW OFFICE OF ROBERT M ARONSON
                  444 S Flower St Ste 1700
                  Los Angeles, CA 90071
                  Tel: 213-232-1116
                  Fax: 213-232-1195
                  Email: robert@aronsonlawgroup.com

Total Assets: $3 million

Total Liabilities: $2.15 million

The petition was signed by Francis Membreno, president.

The Debtor listed Los Angeles County Tax Collector as its largest
unsecured creditor holding a claim of $27,500.

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

             http://bankrupt.com/misc/cacb14-31207.pdf


FOREST CITY: S&P Raises Corp. Credit Rating to 'BB-'
----------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Forest
City Enterprises Inc., including the corporate credit rating and
issue-level ratings on the company's debt, to 'BB-' from 'B+'.
The outlook is stable.

"The upgrade reflects an improvement to the Forest City's
financial profile and our belief that the company is committed to
reducing leverage further," said credit analyst Jaime Gitler.
"The company has reduced its exposure to non-income producing
assets (including land and construction that is in progress)
through sales and joint ventures, most notable of which is its
recent joint venture with Greenland Group at Pacific Park in
Brooklyn (formerly Atlantic Yards)."

The stable outlook reflects S&P's view that same property NOI will
grow in the mid-single digits over the next two years and that the
company will continue to reduce leverage through asset sales and
joint ventures while limiting the size, scope, and risk profile of
future development projects.

Downside scenario

S&P would lower our ratings if the company's commitment to debt
reduction wanes and speculative development rises, causing the
balance sheet and key credit measures to deteriorate such that FCC
drifts back down to the 1.3x area.

Upside scenario

Although unlikely in the near term, S&P could consider raising the
ratings if the company reduces leverage such that debt to EBITDA
declines below 9.5x and FCC rises above 1.7x on a sustained basis.


FRED FULLER: Section 341(a) Meeting Scheduled for December 17
-------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Fred Fuller Oil &
Propane Co., Inc., will be held on Dec. 17, 2014, at 10:00 a.m. at
Room 702, Seventh Floor, 1000 Elm Street, Manchester, NH.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                      About Fred Fuller Oil

Hudson, New Hampshire-based Fred Fuller Oil & Propane Co., Inc.,
the largest heating oil company in the state, serving about 30,000
New Hampshire customers.  It sought Chapter 11 protection
(Bankr. D. N.H. Case No. 14-12188) in Manchester, New Hampshire,
on Nov. 10, 2014, without stating a reason.  It estimated $10
million to $50 million in assets and debt.  The Nov. 10, 2014
court filing show that the Debtor has about $13.5 million in
debts.  Jeremy Blackman at Concord Monitor reports reports that
the Debtor owes more than $276,000 to Harvard Pilgrim Health Care
and nearly $94,000 to the city of Laconia and the towns of Hudson,
Milford and Northfield.

According to Concord Monitor, the bankruptcy case was initially
filed on Nov. 10 under Chapter 7, but that has since been
terminated and replaced with a Chapter 11 restructuring proposal.

William S. Gannon, Esq., at William S. Gannon PLLC, in Manchester,
serves as counsel to the Debtor.  Fredrick J. Fuller, the
president, signed the bankruptcy petition.


GARLOCK SEALING: Dec. 4 Hearing on Hidden Asbestos Evidence Claims
------------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a Dec. 4 hearing is scheduled to determine
whether Garlock Sealing Technologies LLC, plaintiffs' lawyers, or
both are responsible for suppressing evidence related to asbestos
claims against an EnPro Industries Inc. unit.

According to the report, in early November, Garlock filed papers
in court saying the claimants' lawyers were the truly offending
parties for showing a "startling pattern and practice of evidence
suppression."  The asbestos lawyers, on the other hand, say it was
Garlock that withheld evidence, allowing U.S. Bankruptcy Judge
George R. Hodges to incorporate "false testimony" into his factual
conclusions, the report related.

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GGW BRANDS: Proskauer Pays 'Girls Gone Wild' Co. To End Fee Row
---------------------------------------------------------------
Law360 reported that Proskauer Rose LLP has agreed to settle a
bankruptcy trustee's claims that the firm breached its fiduciary
duty to the company behind the "Girls Gone Wild" adult video
series by billing it for services that personally benefited the
company's embattled founder, Joe Francis, according to court
documents.  Proskauer Rose will pay $290,000 to GGW Marketing LLC
to settle the allegations under the agreement, which requires a
judge's approval, the report related.

                         About GGW Brands

Santa Monica, California-based GGW Brands, LLC, the company behind
the "Gils Gone Wild" video, filed a Chapter 11 petition (Bankr.
C.D. Cal. Case No. 13-15130) on Feb. 27, 2013.  Judge Sandra R.
Klein oversees the case.  The company is represented by the Law
Offices of Robert M. Yaspan.  The company disclosed $0 to $50,000
in estimated assets and $10 million to $50 million in estimated
liabilities in its petition.

Affiliates GGW Events LLC, GGW Direct LLC and GGW Magazine LLC
also sought Chapter 11 protection.

GGW Marketing, LLC, another affiliate, filed a voluntary Chapter
11 petition on May 22, 2013, before the Bankruptcy Court for the
Central District of California (Los Angeles). The case is assigned
Case No. 13-23452.  Martin R. Barash, Esq., and Matthew Heyn,
Esq., at Klee, Tuchin, Bogdanoff and Stern, LLP, in Los Angeles,
California, represent GGW Marketing.

In April 2013, R. Todd Neilson, an ex-FBI agent, was appointed as
Chapter 11 Trustee to take over the companies.  Mr. Neilson has
investigated failed solar-power company Solyndra and was involved
in the Mike Tyson and Death Row Records bankruptcy cases.  He is
represented by David M Stern, Esq., Jonathan Mark Weiss, Esq., and
Robert J Pfister, Esq., at Klee Tuchin Bogdonaff and Stern LLP.

In April 2014, the Chapter 11 Trustee sold the "Girls Gone Wild"
video franchise and its assets for $1.83 million.  An auction set
earlier that month was canceled because there were no bids to
compete with the so-called stalking horse, who isn't affiliated
with founder Joe Francis.


GT ADVANCED: Apple Shields Information In Creditor Probe
--------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
creditors of failed smartphone screen material supplier GT
Advanced Technologies will get a peek at Apple Inc.?s secrets
under a protective court order, although U.S. Bankruptcy Judge
Henry Boroff in New Hampshire said anything creditors seize on as
grounds to challenge Apple's deal with GT will have to meet strict
standards to justify the secrecy.

According to the report, Apple is handing over documents and
submitting to questions in advance of a planned December court
review of a proposed settlement with GT, which would clear Apple
of allegations it is to blame for GT?s bankruptcy.

                About GT Advanced Technologies

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

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

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

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


GT ADVANCED: Appoints Two New Members to Board of Directors
----------------------------------------------------------
GT Advanced Technologies Inc. on Nov. 25 announced the appointment
of Richard E. Newsted and John J. Ray III to its board of
directors, effective November 21, 2014.

"Richard Newsted and John Ray are accomplished professionals with
impressive track records of successfully leading companies through
Chapter 11 restructurings in executive and board roles," said
Matt Massengill, chairman of GT Advanced Technologies.  "We are
pleased to add their expertise and knowledge to the GT board as
the company moves through its Chapter 11 reorganization."

Mr. Newsted currently serves as an independent board member for
several public and private companies, including a number
undergoing Chapter 11 restructurings such as Longview Power LLC,
Revstone Industries LLC, and others who have successfully emerged
from a restructuring process, including Rotech Healthcare Inc. and
Mirabela Nickel Limited.  During 2005 and 2006, as President and
Chief Executive Officer, he guided Meridian Automotive Systems,
Inc., a privately held tier one automotive supplier, through a
Chapter 11 reorganization and upon its emergence was elected a
director of the Company.  He served as President and CEO of
Meridian through 2009.

Mr. Ray has served as Chief Restructuring Officer, Litigation
Trustee and Plan Administrator of Chapter 11 debtors since 2002.
He was Chief Restructuring Officer of Overseas Ship Management, a
publicly traded crude oil and product shipping business, where he
led the company through its successful reorganization and exit
from Chapter 11 and where he currently serves as Chairman of the
Board.  Mr. Ray also served as Principal Officer to oversee the
U.S. Chapter 11 of Nortel Networks, Inc., a multi billion dollar
international telecommunications company.  He also has had leading
roles in Chapter 11 cases for Abitibi-Bowater, Fruit of the Loom
Ltd., and Burlington Industries Inc.  From 1998 to 2002 Mr. Ray
served as Chief Administration Officer, General Counsel and
Secretary of Fruit of the Loom, Ltd., where from 1999 through 2002
he served as the principal officer managing all aspects of the
company's Chapter 11 cases.

GT also announced the formation of a Restructuring Committee of
the Board comprised of the two new directors, Mr. Newsted and
Mr. Ray, along with Mr. Massengill.  The primary role of the
Restructuring Committee is to lead the Company's efforts in
seeking and implementing a value-maximizing path to emergence from
Chapter 11.

                 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.


H. A. ASSOCIATES Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: H. A. Associates, LLC
        428 Fairfield Rd
        Fairfield, NJ 07004

Case No.: 14-33842

Nature of Business: Health Care

Chapter 11 Petition Date: November 24, 2014

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Donald H. Steckroth

Debtor's Counsel: Robert M. Rich, Esq.
                  25 Pompton Ave.
                  Verona, NJ 07044
                  Tel: (973) 239-2255
                  Email: rrlaw@aol.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Hesham El Akbawy, president.

The Debtor listed Dixie Trust as its largest unsecured creditor
holding a claim of $2.16 million.

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

             http://bankrupt.com/misc/njb14-33842.pdf


HEALTHSOUTH CORP: Encompass Deal No Impact on Moody's Ba3 CFR
-------------------------------------------------------------
Moody's Investors Service commented that HealthSouth Corporation's
announcement that it has entered into a definitive agreement to
acquire Encompass Home Health and Hospice for approximately $750
million is credit negative. The acquisition, which is expected to
close before the end of 2014 and will be funded with a combination
of available cash and incremental debt, will increase
HealthSouth's leverage and its exposure to Medicare reimbursement.
However, there is no change to HealthSouth's ratings, including
its Ba3 Corporate Family Rating and Ba3-PD Probability of Default
Rating. The stable rating outlook is also unchanged.

However, while there is no change in the Corporate Family Rating,
Moody's believes that the financing alternatives available to
HealthSouth could impact the ratings on the company's debt
instruments. More specifically, a meaningful increase in the
amount of senior secured debt could result in a downgrade of the
Ba3 (LGD 4) rating on HealthSouth's senior unsecured notes.

Headquartered in Birmingham, Alabama, HealthSouth Corporation
(HealthSouth) is the largest operator of inpatient rehabilitation
facilities (IRFs). The company recognized over $2.3 billion in
revenue for the twelve months ended September 30, 2014.

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


HERRING CREEK: Section 341(a) Meeting Scheduled for Dec. 17
----------------------------------------------------------
A meeting of creditors in the bankruptcy case of Herring Creek
Acquisition Co., LLC, will be held on Dec. 17, 2014, at 1:00 p.m.
at Suite 1055, U.S. Trustee Office, J.W. McCormack Post Office &
Court House.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Herring Creek Acquisition Co., LLC, filed a Chapter 11 bankruptcy
petition (Bankr. D. Mass. Case No. 14-15309) in Boston on Nov. 12,
2014, without stating a reason.  The Debtor estimated $10 million
to $50 million in assets and debt.  The case is assigned to Judge
William C. Hillman.  Donald Ethan Jeffery, Esq., at Murphy & King,
in Boston, serves as counsel to the Debtor.


HUDSON'S BAY: Moody's Affirms B1 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service affirmed Hudson's Bay Company's (HBC)
Corporate Family Rating at B1. Moody's also affirmed the B1 rating
assigned to HBC's senior secured term loan B due 2020. The rating
outlook remains stable.

The affirmation of HBC's ratings follows the company's
announcement that it is intending to raise a US$1.25 billion non-
recourse mortgage financing secured by the land located under the
company's flagship Saks store located on New York's Fifth Avenue.
Net proceeds from the transaction are expected to be used to repay
the company's current $1.85 billion term loan B to leave $650
million outstanding. The security arrangements for the term loan B
will remain substantially unchanged including a second lien on
accounts receivable and inventory in the US and Canada, a first
lien on substantially all other assets (excluding owned real
estate of the real estate owning subsidiaries) and the stock of
the existing real estate owning subsidiaries.

Overall Moody's consider this a leverage neutral transaction for
HBC, which will result in a meaningful lengthening of its debt
maturity profile as well as modest interest savings. However, the
transaction is seen as a credit negative, as it effectively
reduces the company's sizable unencumbered asset base which is a
key underpinning of the B1 Corporate Family Rating and the B1 Term
Loan B ratings in view of HBC's still high debt burden from the
November 2013 acquisition of Saks. The affirmation of the term
loan B rating considers that it continues to have meaningful asset
coverage from the pledge of stock of the real estate owning
subsidiaries which Moody's believe continue to have significant
value. This balances the negative impact of the transaction in
that there is now a meaningfully higher degree of debt at the real
estate owning subsidiaries.

The following ratings were affirmed

Issuer: Hudson's Bay Company

  Probability of Default Rating, Affirmed B1-PD

  Speculative Grade Liquidity Rating, Affirmed SGL-2

  Corporate Family Rating, Affirmed B1

  Senior Secured Bank Credit Facility, Nov 5, 2020, Affirmed
  B1(LGD4)

Outlook Actions:

  Outlook, Remains Stable

Ratings Rationale

Hudson's Bay Company's B1 Corporate Family Rating reflects its
high, though improving, debt burden following the acquisition of
Saks, with debt/EBITDA expected to be near six times by the end of
the current fiscal year. The rating also considers the integration
risk associated with the Saks acquisition, which increased HBC's
existing revenues by around 80%, and that Saks' luxury business is
a new segment for HBC. While the integration is not fully complete
the company is on track to achieve targeted cost synergies. The
company's US operations also have a significant geographic
concentration in the Northeastern US, with Lord & Taylor primarily
operating in this area which also includes Saks' NY flagship
store. The company's high leverage is mitigated by its sizable
owned real estate holdings, despite recent financings (including
the sale/leaseback of its Toronto flagship store and the Saks non-
recourse mortgage financing) across all 3 banners, a substantial
portion of which is unpledged. The ratings also take into
consideration the improved operating performance of the Bay and
Lord & Taylor under current management, which has shown generally
consistent trends in same store sales and margins over the past
few years. Furthermore, the ratings consider the diversification
of the company across the US and Canada among its three banners.
Moody's think continuation of strong sales trends at Saks Fifth
Avenue Off 5TH would be a positive, although this concept is still
moderate in scale, as Moody's have a favorable view of the off-
price selling channel.

The stable rating outlook reflects Moody's expectations that HBC
will continue to manage the integration of Saks without
significant disruption and substantially achieve targeted cost
synergies. Moody's expect the combined firm will primarily utilize
cash flow to support investments in its business - including but
not limited to store remodels, costs necessary to achieve
synergies, omnichannel initiatives and the rollout of Saks into
Canada -- rather than to reduce funded debt. Moody's expect the
company's financial policies to remain supportive of creditor
interests, and that any possible actions the company may take with
respect to its sizable real estate holdings will be no worse than
neutral to credit metrics.

Upward rating momentum would build if the company achieves the
synergies expected, which would be evidenced by higher operating
margins, while maintaining positive trends across its banners as a
whole. Greater clarity on the company's intentions with its real
estate assets would also be necessary for any upward rating
momentum to build. Quantitatively, ratings could be upgraded if
debt/EBITDA was sustained below 5 times and interest coverage was
sustained above 2.0 times while maintaining a good overall
liquidity profile.

The company's leverage remains high, though it is improving. Thus,
there is limited capacity for the company's financial policies to
become more aggressive. An example of potential aggressive
financial policy would be if actions with its sizable real estate
portfolio were not supportive of creditor interests. Further
reductions in its real estate ownership would be a negative absent
an improvement in leverage. Ratings could be downgraded if the
competitive profile of the company weakened, for example if the
company is unable to make progress narrowing the gap with best-in-
class competitors in its omnichannel initiatives over time.
Quantitatively, ratings could be downgraded if debt/EBITDA rose
above 6.5 times for an extended period or interest coverage
approached 1.25 times. Moody's also consider the B1 rating for the
term loan B to be weakly positioned at this time, as there is a
diminishing ratio of junior debt to relative to secured debt in
the capital structure following the Saks non-recourse mortgage
financing, and there is limited capacity for the company to
further reduce the real estate asset base.

Headquartered in Toronto, Canada, Hudson's Bay Company ("HBC")
operates Hudson's Bay, Canada's largest branded department store
with 90 locations, and Home Outfitters, Canada's largest home
specialty superstore with 69 locations across the country. In the
United States, HBC operates Lord & Taylor, a department store with
49 full-line store locations throughout the northeastern and mid-
Atlantic US, and four Lord & Taylor outlets. Saks Fifth Avenue
currently operates 39 Saks Fifth Avenue stores and 78 Saks Fifth
Avenue OFF 5TH stores. Revenues for fiscal 2014 are expected to be
around C$7.8-8.1 billion.

The principal methodology used in these ratings was Global Retail
Industry published in June 2011.Other methodologies used include
Loss Given Default for Speculative-Grade Non-Financial Companies
in the U.S., Canada and EMEA published in June 2009.


IBI PALM BEACH: Lender Says Island Breeze Casino Owes $13 Million
-----------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that SourcePoint LLC, in an objection to Island
Breeze Casino's request to use cash collateral, said the casino
cruise boat owes it $13 million and not $1.78 million as indicated
by the Debtor in court papers.  According to the report, Island
Breeze never made a single payment on a $1.5 million loan and a
separate lease of gaming equipment.

Riviera Beach, Florida-based IBI Palm Beach LLC, owner of Island
Breeze Casino, a casino cruise boat operating from the Port of
Palm Beach, Florida, sought protection under Chapter 11 of the
Bankruptcy Code on Nov. 6, 2014 (Case No. 14-34729, Bankr. S.D.
Fla.).  The case is assigned to Judge Erik P. Kimball.

The Debtor's counsel is Dilworth Paxson LLP while its local
Florida counsel is David L Rosendorf, Esq., at Kozyak Tropin &
Throckmorton, P.A.


ION GEOPHYSICAL: S&P Lowers CCR to 'B-' on Weak Liquidity
---------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on ION Geophysical Corp. to 'B-' from 'B'.  The
outlook is negative.  At the same time, S&P lowered the issue-
level rating on the company's outstanding second-lien notes to
'B-' from 'B'.  The recovery rating on these notes remains
unchanged at '4', reflecting S&P's expectation of average (30% to
50%) recovery to creditors in the event of a payment default.

The downgrade reflects S&P's expectation that the company will
face weaker market conditions as a result of the drop in oil and
natural gas prices and S&P's expectation of lower capital spending
by E&P companies next year.  S&P believes the highly volatile
seismic sector will face significant challenges because it expects
E&P companies will cut back on their capital spending,
particularly on spending for relatively discretionary seismic data
acquisition and processing.  The company also reported weaker-
than-anticipated third quarter revenues and earnings.

"The negative outlook reflects the possibility that we could lower
the rating if credit measures did not stabilize or liquidity were
to deteriorate, which would most likely be due to weak operating
results resulting from challenging conditions for seismic data
providers," said Standard & Poor's credit analyst Susan Ding.

S&P could lower the rating if it expected liquidity to weaken to
"less than adequate."  S&P believes this could occur if the
company had to pay legal contingency of $124 million or if E&P
spending dropped by more than S&P currently anticipate.

S&P could revise the outlook to stable if credit measures
stabilized and the company was able to settle its legal claims
without a meaningful payout.


JACKSON HILLS: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Jackson Hills, LLC
        1825 Del Paso Boulevard
        Del Paso Heights, CA 95815

Case No.: 14-31145

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 12, 2014

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Hon. Christopher M. Klein

Debtor's Counsel: David M. Meegan, Esq.
                  MEEGAN, HANSCHU & KASSENBROCK
                  11341 Gold Express Dr #110
                  Gold River, CA 95670
                  Tel: (916) 925-1800
                  Email: dmeegan@mhksacto.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kathryn Y. Bieber, operating manager.

A list of the Debtor's two largest unsecured creditors is
available for free at http://bankrupt.com/misc/caeb14-31145.pdf


JOE'S JEANS: Looks For Deal With Lenders
----------------------------------------
Jamie Mason, writing for The Deal, reported that after defaulting
on its roughly $93.85 million in debt, denim apparel maker Joe's
Jeans Inc. is in talks with its lenders in the hopes of reaching
an amendment or waiver to avoid an immediate debt repayment.

According to the report, the Los Angeles designer, producer and
seller of apparel and apparel-related products under the Joe's and
Hudson brands disclosed in a filing with the Securities and
Exchange Commission that it failed to comply with the Ebitda
covenant on its term loan as of Sept. 30, causing a default on its
debt.

Joe's Jeans Inc. -- http://www.joesjeans.com/ -- designs,
produces and sells apparel and apparel-related products to the
retail and premium markets under the Joe's(R) brand and related
trademarks.


LDK SOLAR: Court Confirms Prepackaged Ch. 11 Plan
-------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware, on Nov. 21, 2014, issued an order approving the
disclosure statement and confirming the joint prepackaged plan of
reorganization of LDK Solar Systems, Inc., and its debtor
affiliates.

Law360 reported that the Roberta A. DeAngelis, U.S. Trustee for
Region 3, took issue with provisions in LDK's prepackaged plan,
arguing it could shield several parties from liability, marking a
potential bump on the debtors' thus far smooth road to
confirmation.  According to Law360, the U.S. Trustee argued that
the exculpatory releases guaranteed in the Chapter 11 plan for LDK
Solar Systems Inc., LDK Solar USA Inc. and LDK Solar Tech USA Inc.
are too broad, running afoul of established precedent.  All
objections to the Plan that were not resolved were overruled by
Judge Walsh.

                         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 Solar, 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 JOHNSTON: 'Gap' Interest on Tax Claims Is Never Discharged
----------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Roslyn O. Silver in
Phoenix ruled that so-called gap interest on priority tax claims
never can be discharged in an individual's Chapter 11 plan, thus
the government can't be held in contempt for attempting to collect
interest on a non-discharged tax claim, even if the plan purported
to erase the interest claim.

According to the report, on appeal, Judge Silver concluded that
interest on a priority tax claim "is never dischargeable," even if
the plan specifically provides otherwise.

The case is U.S. v. Johnston (In re Johnston), 13-2133, U.S.
District Court, District of Arizona (Phoenix).


MARYSVILLE, CA: Moody's Lowers $7MM Taxable COPs Rating to Ba3
--------------------------------------------------------------
Moody's Investors Services has downgraded City of Marysville,
California's Issuer Rating to Baa1, from A3, and its $7 million of
2011 Taxable Certificates of Participation (COPs) to Ba3 from
Baa3. The outlook is negative.

The COPs are secured by the city's covenant to budget and
appropriate lease payments to the Marysville Public Financing
Authority for the use and occupancy of a five-acre site of
undeveloped land and a community baseball park. The COPs have a
debt service reserve fund, currently funded in cash at $550,000
and held by the trustee. The city is scheduled to make additional
reserve fund deposits of $25,000 in fiscal 2015 and $25,000 in
fiscal 2016, at which point the reserve requirement will be
satisfied at $600,000. This amount is still less than the fiscal
2017 debt service payment of $637,000.

Rating Rationale

The downgrade of the COPs to Ba3 reflects the heightened risk of a
payment default or restructuring for certificate holders. The
downgrade follows the failure of a local ballot measure in the
November 2014 election that would have increased the city's sales
tax rate and provided critical support for the city's strained
finances. The negative outlook reflects the challenge the city
will have in meeting the near-term escalation of lease payments
from existing budget resources, which could potentially lead to a
default and losses for certificate holders. The collateral backing
the COPs provides little, if any, recovery value in the event of
possession and re-lease upon a default.

Strengths

-- Limited debt, pension and post-employment health liabilities


-- Tax base values and sales tax collections have shown
    improvements recently

-- The city has shown a willingness to cut its budget,
    materially, to align expenditures with lower revenues

Challenges

-- Increasingly short time horizon to establish how increased
    lease payments will be managed

-- Revenue declines have forced deep cuts to city services,
    limiting capacity for further reductions

What Could Change the Rating UP:

-- Well-defined, achievable plan that provides for healthy
    projected coverage of COP debt service

-- Strengthened liquidity and reserves

What could change the rating DOWN:

-- Failure to identify how increased COP payments will be
    managed

-- Perceived increase in default risk for COPs

-- Weakening of local economy, further pressuring city revenues

The principal methodology used in the issuer rating was US Local
Government General Obligation Debt published in January 2014. The
principal methodology used in the lease-backed rating was The
Fundamentals of Credit Analysis for Lease-Backed Municipal
Obligations published in December 2011.


MAUDORE MINERALS: Gets 45-Day Extension to Make BIA Proposal
------------------------------------------------------------
Greg Struble, President and Chief Executive Officer of Maudore
Minerals Ltd. on Nov. 24 disclosed that Maudore, together with its
subsidiary Aurbec Mines Inc., have each received a 45 day
extension from the Superior Court of Quebec, District of Abitibi
of the period in which to make a proposal under the notices of
intention filed on September 8th under the Bankruptcy and
Insolvency Act (Canada).  The Corporation and Aurbec now have
until Monday, January 5th, 2015 to complete and present their
proposal(s) to their creditors.

Samson Belair/Deloitte & Touche Inc. will continue to act as the
trustee to the proposals of Maudore and Aurbec, and in that
capacity will monitor and assist the companies in their
restructuring efforts.

                  About Maudore Minerals Ltd.

Maudore is a Quebec-based junior gold company in production, with
mining and milling operations as well as more than 22 exploration
projects.  Five of these projects are at an advanced stage of
development with reported current and historical resources and
mining.  Currently, all gold production is coming from the
Sleeping Giant mine.  The Corporation's projects span some 120 km,
east-west, of the underexplored Northern Volcanic Zone of the
Abitibi Greenstone Belt and cover a total area of 1,285 km2, with
the Sleeping Giant Processing Facility within trucking distance of
key development projects.


MIG LLC: Exclusive Plan Filing Date Extended to Dec. 29
-------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware extended MIG LLC, and ITC Cellular, LLC's exclusive
period within which to file a plan of reorganization until
Dec. 29, 2014, and their exclusive period within which to solicit
acceptances of that plan until Feb. 27, 2015.

If no objection to the exclusive periods extension is filed with
the Court by Dec. 22, then the Debtors' exclusive plan filing
period is extended until Feb. 27, 2015, and their exclusive
solicitation period is extended until April 28, 2015.

If an objection to the exclusive periods extension is filed with
the Court on or prior to Dec. 22, then a hearing on the extension
will take place on the date of the next omnibus hearing following
Dec. 22, and exclusivity will be extended by operation of the
Court's order until the Court rules on the objection.

As previously reported by The Troubled Company Reporter, the
Debtors said in court papers that more time is needed to determine
and assess the various issues presented and decide the most
effective way of achieving the appropriate resolution of these
Chapter 11 Cases.

                        About MIG LLC

Formerly operating under the name "Metromedia International Group,
Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and
operated and sold dozens of companies in diverse industries,
including entertainment, photo finishing, garden equipment and
sporting goods, until the late 1990s.  In 1997 and 1998, MIG
consummated the sale of substantially all of its U.S.-based
entertainment assets and began focusing on expanding into emerging
communications and media businesses.  By 2005, all of MIG's
operating businesses were located in the Republic of Georgia and
operated through its subsidiaries.

MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11
bankruptcy protection on June 30, 2014.  The cases are currently
jointly administered under Bankr. D. Del. Lead Case No. 14-11605.
As of the bankruptcy filing, MIG's sole valuable asset, beyond its
existing cash, is its indirect interest in Magticom Ltd.  The
cases are assigned to Judge Kevin Gross.  MIG LLC disclosed
$15,939,125 in assets and $253,713,467 in liabilities.

Headquartered in Tbilisi, Georgia, Magticom is the leading mobile
telephony operator in Georgia and is also the largest telephone
operator in Georgia.  Magticom serves 2.4 million subscribers with
a network that covers 97% of the populated regions in Georgia.
Magticom is owned by International Telcell Cellular, LLC, which is
46% owned by MIG unit ITC Cellular, 51% owned by Dr. George
Jokhtaberidze, and 3% owned by Gemstone Management Ltd.

Formerly known as MIG, Inc., MIG was a debtor in a previous case
(Bankr. D. Del. Case NO. 09-12118).  It obtained approval of its
reorganization plan in November 2010.

The Debtors have tapped Greenberg Traurig LLP as counsel, Fox
Rothschild Inc. as financial advisor; Cousins Chipman and Brown,
LLP as conflicts counsel; and Prime Clerk LLC as claims and notice
agent and administrative advisor.  The Debtors have retained
Natalia Alexeeva as chief restructuring officer.

A three-member panel has been appointed in these cases to serve as
the official committee of unsecured creditors, consisting of
Walter M. Grant, Paul N. Kiel, and Lawrence P. Klamon.


MORTGAGES LTD: 9th Circuit Questions Its Own Mootness Opinion
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the U.S. Court of Appeals in San Francisco
handed down two opinions on Nov. 12 arising from Mortgages Ltd.'s
liquidating Chapter 11 on the doctrine of equitable mootness, with
each ruling reaching opposite results while pointing out
inconsistences in that court's prior opinions on equitable
mootness.

According to the report, one appeal arose from a decision from the
bankruptcy court dismissing investors' declaratory judgment
counterclaim that the agent lacked authority to sell the company's
remaining mortgages and real estate without their consent, while
the other appeal was from sale approvals.

The report related that on the declaratory judgment appeal, U.S.
Circuit Judge John C. Wallace said the appeal was not moot as to
sales taking place in the future because no third party would be
harmed, while the appeal from approval of sales was moot and was
dismissed.

The appeal on the declaratory judgment is Rev Op Group v. ML
Manager (In re Mortgages Ltd.), 12-15229, and the appeal on the
sales is Rev Op Group v. ML Manager (In re Mortgages Ltd.), 12-
15234, both in U.S. Ninth Circuit Court of Appeals (San
Francisco).

                       About Mortgages Ltd.

Mortgages Ltd. was the subject of an involuntary Chapter 7
petition dated June 20, 2008, filed by KGM Builders Inc. -- a
contractor for Grace Communities, a borrower of the company --
in the U.S. Bankruptcy Court for the District of Arizona.  Central
& Monroe LLC and Osborn III Partners LLC, divisions of Grace
Communities, sought the appointment of an interim trustee for
Mortgages Ltd. in the Chapter 7 proceeding.

Mortgages Ltd. faced lawsuits filed by Grace Communities and
Rightpath Limited Development Group for its alleged failure to
fully fund loans.  Mortgages Ltd. denied the charges.

The Debtor's case was converted to a chapter 11 proceeding (Bankr.
D. Ariz. Case No. 08-07465) on June 24, 2008.  Judge Sarah
Sharer Curley presided over the case.  Carolyn Johnsen, Esq., and
Bradley Stevens, Esq., at Jennings, Strouss & Salmon P.L.C.,
replaced Todd A. Burgess, Esq., at Greenberg Traurig LLP, as
counsel to the Debtor.  As of Dec. 31, 2007, the Debtor had total
assets of $358,416,681 and total debts of $350,169,423.

Mortgages Ltd. was reorganized pursuant to a plan that was
confirmed by the Bankruptcy Court on March 20, 2009.  As part of
the Plan, ML Manager LLC was created to manage and operate the
loans in the portfolio.  The original investors for the most part
transferred their interests to 49 separate Loan LLC's.  A number
of investors, referred to as "pass through investors" did not
transfer their interests.  As part of the Plan, ML Manager took
out $20 million in exit financing to help keep the company afloat
during the reorganization.


NETBANK INC: High Court Won't Hear $5.7M Tax Refund Case
--------------------------------------------------------
Law360 reported that the U.S. Supreme Court declined a request by
bankrupt Internet banking pioneer NetBank Inc. to rehear an
Eleventh Circuit ruling that forwarded a $5.7 million tax refund
to the Federal Deposit Insurance Corp. instead of NetBank.

According to Law360, the high court did not elaborate on its
denial of the last-ditch appeal effort by Netbank, which came
after the Eleventh Circuit reversed a Florida district court's
award of the tax refund to the company and its subsidiary NetBank
FSB as a part of its bankruptcy estate.

As previously reported by The Troubled Company Reporter, NetBank
told the Supreme Court that an Eleventh Circuit ruling that
forwarded a $5.7 million tax refund to the FDIC instead of NetBank
conflicts with three other circuit court decisions and fails to
consider equality of distribution precedent.

In response to the FDIC's argument that a Supreme Court review is
not warranted because the facts and circumstances between the
opinions from the First, Second and Fifth circuits and that of the
Eleventh Circuit are too different, NetBank said the consistency
in the outcomes of each of the three other cases in spite of their
differing facts demonstrates the legal framework applied in each -
- equality of distribution -- had a "marked effect" on their
outcomes and that the Eleventh Circuit's departure from those
outcomes hinges on its failure to work within that same framework.

In the NetBank case, the U.S. Court of Appeals in Atlanta in 2013
awarded the refund to the FDIC as receiver, and not to the holding
company.  In March, NetBank's liquidating trustee asked the
Supreme Court to resolve what he called a split among appeals
courts on what the FDIC should be forced to prove before
establishing a so-called constructive trust that gives the refund
to the bank, even though the refund was payable to the holding
company, the report said.

The case is Clifford Zucker as Liquidating Supervisor for Netbank
Inc. v. Federal Deposit Insurance Corp. in its Capacity as
Receiver of Netbank FSB, case number 13-1480, in the U.S. Supreme
Court.

                        About NetBank Inc.

Headquartered in Jacksonville, Florida, NetBank Inc. --
http://www.netbank.com/-- is a financial holding company of
Netbank, the United States' oldest Internet bank serving retail
and business customers in all 50 states.  NetBank Inc. did
retail banking, mortgage banking, business finance, and provided
ATM and merchant processing services.

The Company filed for chapter 11 protection (Bankr. M.D. Fla. Case
No. 07-04295) on Sept. 28, 2007.  Alan M. Weiss, Esq., at
Holland & Knight LLP, represents the Debtor.  Rogers
Towers, Esq. at Kilpatrick Stockton LLP, represents the Official
Committee of Unsecured Creditors.

Clifford Zucker serves as the Liquidating Supervisor for NetBank
under the terms of a Second Amended Liquidating Plan confirmed in
Sept. 2008, and is represented by Michael D. Langford, Esq., and
Shane G. Ramsey, Esq., at Kilpatrick Stockton LLP in Atlanta, Ga.

As of Sept. 25, 2007, the Debtor reported total assets of
$87,213,942 and total debts of $42,245,857.  As of August 31,
2008, NetBank, Inc., had total assets of $13,807,207 and total
liabilities of $34,607,868.


NEUSTAR INC: S&P Retains 'BB' CCR on CreditWatch Negative
---------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on Sterling,
Va.-based Neustar Inc., including the 'BB' corporate credit
rating, remain on CreditWatch, where there were placed with
negative implications on June 12, 2014.

"The continued negative CreditWatch listing reflects ongoing
uncertainty regarding whether Neustar will retain the LNPA
contract," said Standard & Poor's credit analyst Allyn Arden.

Standard & Poor's originally placed the ratings on Neustar on
CreditWatch following the NANC's recommendation to the FCC that
the contract be awarded to rival bidder Telcordia, a unit of
Sweden's telecommunications equipment supplier Ericsson.  The FCC
has sought and received comments on the recommendation.  Since
that time there have been numerous filings with the FCC by both
Telcordia and Neustar in support of their respective positions.

The LNPA contract is set to expire in June 2015, although S&P
believes that any potential transition to another service provider
could take longer given the scope of the conversion and the
importance of ensuring that consumers are able to keep their phone
numbers when switching carriers.

Roughly half of Neustar's business is derived from the LNPA
contract, despite recent acquisitions intended to diversify its
base of business.  Additionally, this contract provides Neustar
with a stable, recurring revenue stream through the life of the
contract, which is a key factor in our "fair" business risk
assessment.

While the ultimate outcome has yet to be determined, S&P believes
there is a significantly greater risk that Neustar could lose the
contract, which would have a material impact on the company's
financial risk profile, including its debt to EBITDA, which was
about 1.5x as of Sept. 30, 2014.  S&P nets cash as part of its
leverage calculation based on Neustar's "fair" business risk
assessment, although a loss of the contract could prompt S&P to
revise the business risk profile to "weak," in which case it would
no longer net cash.  S&P believes leverage could be 3.5x or higher
based on lower levels of EBITDA due to a potential contract loss.
Under such a scenario, financial policy would be a key ratings
factor, including Neustar's ongoing level of share repurchases.

S&P plans to resolve the CreditWatch when there is more clarity
regarding the ultimate vendor selection.  A downgrade, if any,
could exceed one notch, depending on S&P's analysis of Neustar's
remaining business segments, financial policy, and longer-term
leverage.


NIAGARA AT BARTON: Can Tap Cash for Limited Use
-----------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Niagara at Barton Hill Inc., operator of The
Barton Hill Hotel & Spa near Niagara Falls, New York, has interim
permission to use cash representing collateral for secured
lenders' claims, although only for specified purposes.

According to the report, the judge in Buffalo, New York, signed an
order allowing the hotel to use Stabilis Master Fund III LLC's
cash collateral to cover non-insider payroll and utility costs.
Other cash use requires approval from Stabilis, which acquired a
mortgage that financed construction of the hotel, spa and
restaurant facilities, the report said, citing court papers.

Lockport, New York-based The Niagara at Barton Hill, Inc., dba
Barton Hill Hotel & Spa, sought protection under Chapter 11 of the
Bankruptcy Code on Oct. 29, 2014 (Case No. 14-12537, Bankr.
W.D.N.Y.).  The case is assigned to Judge Michael J. Kaplan.

The Debtor's counsel is Diane R. Tiveron, Esq., at Hogan Willig,
PLLC, in Getzville, New York.

The Debtor's estimated assets is $0 to $50,000 and estimated
liabilities is $10 million to $50 million.

The petition was signed by Edward G. Finkbeiner, president.


O.W. BUNKER: Seeks to Continue Using Cash Management System
-----------------------------------------------------------
O.W. Bunker Holding North America Inc., et al., seek authority
from the U.S. Bankruptcy Court for the District of Connecticut -
Bridgeport Division, to continue using their prepetition cash
management system, bank accounts and business forms.

Prior to the Petition Date, in the ordinary course of business,
the Debtors maintained five bank accounts at a financial
institution insured by the Federal Deposit Insurance Corporation.
To manage the flow of cash through the Bank Accounts, the Debtors
utilize an integrated cash management system that provides for the
collection and disbursement of funds.  The Debtors seek authority
to continue to use the cash management system as establishing an
entirely new system of accounts, and a new cash management and
disbursement system for each separate legal entity, would be
burdensome to the Debtors.

To avoid disruption of the cash management system and unnecessary
expense, the Debtors ask that they not be required to include the
legend "D.I.P." and the corresponding bankruptcy case number on
their business forms.  Moreover, out of an abundance of caution,
the Debtors seek a 30-day waiver of the requirements of Section
345(b) of the Bankruptcy Code in order to confer with the U.S.
Trustee to determine whether any modifications to the Deposit
Guidelines are required.

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


O.W. BUNKER: Proposes Dec. 4 Auction for Vopak Oil
--------------------------------------------------
O.W. Bunker Holding North America Inc., et al., seek authority
from the U.S. Bankruptcy Court for the District of Connecticut -
Bridgeport Division, to sell substantially all of the Debtors' oil
stored at Vopak Terminal Los Angeles, Inc., and related assets,
Oil and establish procedures governing the sale of the assets.

As part of the Debtors' business, they have contracted for the
storage of oil at the Vopak Terminal to support ordinary course
deliveries to customers.  More than 27,000 metric tons of various
grades of oil owned by one or more of the Debtors is currently
stored at the Vopak Terminal, and smaller quantities are on a
vessel or vessels in the Los Angeles area.  The monthly charges to
store the Vopak Oil exceed $300,000 and the Debtors have no hedges
or other protection for the oil.  Thus, the Debtors decided to
sell the oil to avoid losses and continuing costs.

The Debtors tell the Court that they have, over the last several
weeks, sought buyers for some or all of the oil, and received
indications of interest in the range of $350. to $500 per MT.
This process is ongoing as the Debtors seek more favorable offers.
The Debtors state that if they do identify a stalking horse for
the sale of substantially all of the Vopak Oil through a Section
363 process, and conclude that proposing a stalking horse bid will
help maximize the sale price and other benefits, the Debtors will
file a copy of the bid.

The Debtors propose the following timeline in connection with the
sale of the Vopak oil:

   Dec. 1, 2014   -- Deadline for Objections to the Sale
                     and for Cure Objections

   Dec. 2, 2014   -- Bid Deadline and Debtors file notice of
                     Qualified Bids

   Dec. 4, 2014   -- Auction

   Dec. 5, 2014   -- Sale Hearing

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


O.W. BUNKER: Section 341(a) Meeting Scheduled for December 15
-------------------------------------------------------------
A meeting of creditors in the bankruptcy case of O.W. Bunker
Holding North America Inc. is set for Dec. 15, 2014, at 1:00 p.m.
at Office of the UST.  Creditors have until March 16, 2015, to
submit their proofs of claim.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The Company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor of the Debtors.


O.W. BUNKER: Amends List of Largest Unsecured Creditors
-------------------------------------------------------
O.W. Bunker Holding North America Inc., et al., on Nov. 14, filed
with the U.S. Bankruptcy Court for the District of Connecticut -
Bridgeport Division, an amended list disclosing the creditors
holding 21 largest unsecured claims:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
NuStar Energy L.P.                 Trade Debt         $20,572,025
Corporate Headquarters
Brad Barron
President & CEO
19003 IH-10 West
San Antonio, TX 78257
United States

Andy Downs
Director Supply and Trading
NuStar Energy L.P.
Direct: 210-918-2057
Fax: 210-918-7077
Cell: 210-485-8133
E-Mail: andy.downs@nustarenergy.com

Zach Stansbury
Supply and Trading
NuStar Energy L.P.
Direct: 210-918-2155
Cell: 210-848-8221
F: 210-918-5447
Email: Zach.Stansbury@nustarenergy.com
       Bunkers@nustarenergy.com

Phillips 66 Company                Trade Debt         $12,883,429
Greg C. Garland
Chairman and CEO
3010 Briarpark Drive
Houston, TX 77042
United States

Charles Murphy, III
Phillips 66
Commercial Credit Risk
600 N. Dairy Ashford, CH-02-2004B
Houston, TX 77079
Phone: +1 832-765-3966
Fax: +1 832-765-0448
Email: Charles.Murphy@p66.com

Trevor Green
West Coast Bunkers
600 N. Dairy Ashford Rd
Houston, TX 77252
P: (832) 765-3104
M: (281) 546-6739
Email: Romulo.Monsalve@p66.com

Tesoro Marine Services             Trade Debt          $2,203,408
Suite 100, 3450 South 344th Way
Auburn, WY 98001
United States

Heavy Oil Marketing Representative
SLC Decant/PNW Bunkers (Marine Fuel)
Tesoro Companies, Inc. ? San Antonio, TX
Email: Megan.R.Vliet@tsocorp.com
Group Email: Bunkers@tsocorp.com
Office: (210) 626-6610
Cell: (512) 363-6684
Fax: (210) 446-3855

Alexandra Liberato
Heavy Oil Marketing Representative
Tesoro Companies, Inc.
Cell: (832) 341-7776
Office: (210) 626-6708
Email: Alexandra.R.Liberato@tsocorp.com
Group Email: Bunkers@tsocorp.com

Bomin Bunker Oil Corporation       Trade Debt          $1,350,867
Gene Owen
President
333 Clay St. Suite 2400
Houston, TX 77002
United States
Phone: (713) 353-9516
Email: gowen@bominbunkers.com

Global Companies LLC               Trade Debt          $1,293,115
Brett McDonald and Jeff Mansfield
800 South Street
Suite 200
Waltham, MA 02454
United States

Dana Fraktman
Karson Gillespie
V.P. Marine Fuel Oil Supply & Trading
Work: 781-398-4380
Cell: 781-929-3258
Email: dfraktman@globalp.com
       KGillespie@globalp.com

CEPSA (Panama) S.A.                Trade Debt          $1,207,324
Pedro Miro
Chief Executive Officer
Dresdner Bank, Sixth Floor
Calle 50
Panama City
Panama
Phone: 00 507 214 9601
Fax: 00 507 214 8300
Email: bunker@cepsapanama.com

PACRIM Petroleum Inc.              Trade Debt          $1,204,366
Thomas W Pressler
President
774 Mays Blvd., 10-325
Incline Village, NV 89451
United States
Phone: 916-990-4007
Email: tpressler.pacrimpetroleum@gmail.com

Martin Energy Services LLC         Trade Debt          $1,178,101
Damon King / George Dodgen
Chief Operating Officer / Sr. Vice President
Three Riverway, Suite 400
Houston, TX 77056
United States
Phone: (713) 350-6831;
       (713) 350-6805
Email: chris.booth@martinmlp.com

Chevron Marine Products LLC        Trade Debt          $1,100,928
George Pence
6001 Bollinger Canyon Road
Bldg. L Third Floor
San Ramon, CA 94583
United States
Phone: (925) 842-3790
Email: gmpuswcsal@chevron.com

O'Rourke Marine Services           Trade Debt          $1,089,294
Dennis O'Rourke
Chief Executive Officer
223 McCarty Street
Houston, TX 77029
United States
Phone: (713) 672-4500
Fax: (713) 672-9425
Email: ryoung@orpp.com
       jssimms@simmsshowers.com

Demenno/Kerdoon                    Trade Debt            $660,463
Jim Ennis
Chief Operating Officer
1300 S. Santa Fe Avenue
Compton, CA 90221
United States
Phone: (310) 886-3400
Fax: (310) 639-2946
Email: lrivera@asbury.env.com

Lunday-Thagard Company             Trade Debt            $658,480
Austin Miller
Chief Operating Officer
9302 Garfield Avenue
South Gate, CA 90280-1519
United States
Phone: (562) 928-7000
Fax: (562) 928-4032
Email: johnh@worldoil.net

Westoil                            Trade Debt            $474,333
910 SW Spokane St.
Seattle, WA 98134
United States
Phone: (206) 628-0021
Fax: (206) 628-0293
Email: billing@harleymarine.com
cc: SParry@harleymarine.com

VOPAK                              Trade Debt            $380,680
Kim Furrh and Michael Patton
2759 Independence Parkway South
Deer Park, TX 77536
United States
Phone: (281) 604-6028;
       (281) 604-6107
Email: kim.furrh@vopak.com
       michael.patton@vopak.com

Atlantic Gulf Bunkering            Trade Debt            $348,477
John T. Canal
Manager
110 Beauregard Street
Suite 300
Mobile, AL 36602
United States
Phone: (251) 253-3812
Email: kirk@agbllc.com

Chemoil Corporation                Trade Debt            $341,978
Thomas K. Reilly
Chief Executive Officer
Four Embarcadero Center
34th Floor
San Francisco, CA 94111
United States
Phone: (415) 268-2740
Fax: (415) 449-3695
Email: sfmarketing@chemoil.com

MIECO                              Trade Debt            $296,137
Masahiro Zack Yamazaki
Chief Executive Officer
Shoreline Square
301 East Ocean Blvd, Suite 1100
Long Beach, CA 90802
United States
Phone: (973) 733-2771
Email: bshapiro@mieco.com

Harley Marine                      Trade Debt            $158,956
Harley Franco
Chairman and CEO
910 SW Spokane St.
Seattle, WA 98134
United States
Phone: (310) 629-4948
Fax: (206) 628-0293
Email: billing@harleymarine.com
cc: SParry@harleymarine.com

Marine Petrobulk Ltd.              Trade Debt            $155,926
Tony Brewster General Manager
Ten Pemberton Avenue
N. Vancouver, BC V7P2R1
Canada
Phone: (604) 987-4415
Fax: (604) 987-3824
Email: bunkers@marinepetro.com

Triton Energy of Panama            Trade Debt            $150,432
Avenida Samuel Lewis
Edificio Plaza Obarrio, Suite 109
P.O. Box 87-4777
Panama City Zona 7
Panama
Gaston R. Arellano
Email: gaston@tritonpa.com
Email: gastonra@att.blackberry.net
Ofc - (305) 864 6004
Fax - (305) 864 6044
Cell- (305) 282 2602

P.M.I. Trading Limited             Trade Debt        Undetermined
Fernanda Gallardo Panama, Calle Aquilino
De la Guardia, Edificio Ocean
Business Plaza piso 12
Panama
Phone: 52 (55) 19440154;
         (713) 567-0154
Email: Carlos.jalife@pmi.com

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


O.W. BUNKER: Seeks Until Jan. 12 to File Schedules
--------------------------------------------------
O.W. Bunker Holding North America Inc., et al., ask the U.S.
Bankruptcy Court for the District of Connecticut - Bridgeport
Division, to extend the deadline by which they must file their
schedules of assets and liabilities and statements of financial
affairs to Jan. 12, 2015, as the current deadline of Nov. 26 is
not enough time for them to complete their schedules and
statements accurately.

The Debtors explain that they relied on OW Bunker & Trading A/S, a
Danish Company, and the other Danish parent entities to provide
significant accounting services and invoicing assistance.  These
services have been discontinued in light of the Danish bankruptcy
proceedings, leaving the Debtors to generate information manually,
the Debtors tell the Court.

NuStar Energy Services, Inc., and NuStar Supply & Trading LLC,
asserts that if the Court should grant the motion for extension,
the extension be conditioned that the first meeting of creditors
be held on Dec. 15, as scheduled, then re-convened no earlier than
10 days, and no later than 20 days, after the schedules and
statements are filed.

NuStar is represented by:

         Eric Henzy, Esq.
         REID AND RIEGE, P.C.
         One Financial Plaza, 21st Floor
         Hartford, CT 06103
         Tel: (860) 240-1081
         Fax: (860) 240-1002
         Email: ehenzy@rrlawpc.com

            -- and --

         Michael M. Parker, Esq.
         Steve A. Peirce, Esq.
         FULBRIGHT & JAWORSKI LLP
         300 Convent Street, Suite 2200
         San Antonio, TX 78205
         Tel: (210) 224-5575
         Fax: (210) 270-7205
         Email: michael.parker@nortonrosefulbright.com
                steve.peirce@nortonrosefulbright.com

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


O.W. BUNKER: To Sue Lender, Wants Customer Payments Preserved
-------------------------------------------------------------
O.W. Bunker Holding North America Inc., et al., tell the U.S.
Bankruptcy Court for the District of Connecticut - Bridgeport
Division, that they are going to file an adversary proceeding
against ING Bank, N.V., in order to avoid its purported lien and
they want the Court to direct customer payments to be deposited in
a segregated account to preserve those payments for the Debtors.

According to the Debtors, one week prior to the Petition Date, ING
filed UCC-1 financing statements in with Connecticut and Texas, to
perfect its interests in the Debtors' receivables.  Pursuant to a
prepetition security agreement, two the Debtors have pledged their
supply contract receivables to ING to partially secure a
$700,000,000 multicurrency revolving borrowing base facility
between multiple O.W. Bunker entities throughout the world.

The Debtors believe that under Sections 547 and 550 of the
Bankruptcy Code, these are preferential transfers of their
interests in the receivables and subject to avoidance, which would
result in the receivables being unencumbered and subject to
recovery for the Debtors' estates.  Accordingly, the Debtors will
file an adversary proceeding against ING to avoid the purported
lien of ING.  Under these circumstances, the Debtors assert that
neither ING nor O.W. Bunker Trading and Supply A/S, a Danish
Company, may continue to direct customer payments on these
receivables to the Designated Accounts.  Rather, they should be
preserved for the Debtors and their estates, pending disposition
of the Adversary Proceeding.

Accordingly, the Debtors ask the Court to direct that all customer
payments on all current, future and outstanding customer invoices
as well as any receivables generated from the sale of the Debtors'
Fuel Oil be deposited into the Segregated Account so that the
funds are preserved until the time as the Court issues a ruling in
the Adversary Proceeding.  With respect to liens asserted by
suppliers on customer vessels, upon payment by a customer into the
Segregated Account, the Debtors submit that any lien attach to the
Segregated Account until the time as they are paid or otherwise
resolved pursuant to certain procedures.

                             Objections

ING, NuStar Energy Services, Inc. and NuStar Supply & Trading LLC,
and Vopak Terminal Los Angeles Inc., objected to the Debtors'
request.

ING complains that any suggestion by the Debtors that they should
extricate themselves from the corporate and capital structure of
the O.W. Bunker group, undo the assignments of customer accounts,
and assume the role of collecting agent for those accounts would
interfere with the established central treasury function of the
O.W. Bunker group and the property rights of ING under the
prepetition finance documents.  Moreover, ING argues that that
proposal would only cause further disruption to the global
centralized collection efforts of O.W. Bunker A/S and its
experienced staff of collection experts.

ING further complains that, by the motion, the Debtors seek an
order from the Court that would, without complying with the
requirements of Section 363 and 364 regarding the use of cash
collateral and the required provision of adequate protection of
ING's interests in the Debtors' property, divert cash collateral
from the existing global cash management system to an account
controlled by the Debtors, which the Debtors propose to encumber
with new liens in favor of suppliers that supply the Debtors with
fuel oil and other goods or otherwise to use to offer assurances
of payment to those vendors.

NuStar objects to the Injunctive Motion to the extent it seeks to
impair or impede its right to perfect maritime liens and/or arrest
vessels.  NuStar complains that as it applies to O.W. Bunker USA
Inc., the Injunctive Motion is (i) procedurally improper, (ii)
fails to afford due process to the parties most affected by its
requested relief, (iii) seeks relief outside the jurisdictional
reach of this Court, (iv) fails to satisfy the elements necessary
to obtain an injunction, (v) fails to establish cause to enjoin
vessel arrests, (vi) fails to establish benefit to the estate from
enjoining vessel arrests, (vii) operates as a "taking" of NuStar's
property under the Fifth Amendment of the U.S. Constitution, and
(viii) greatly prejudices the rights of bunker fuel oil suppliers
like NuStar without obtaining the result USA seeks.

Vopak objects to the Motion to the extent that Debtors' proposal
impairs and prejudices Vopak's warehouseman's lien.  Vopak argues
that the treatment of the proceeds of any sale of the Product
stored at the Terminal should not be deposited into the Segregated
Account and subject to the Debtors' lien scheme.  Rather the
treatment of the proceeds of any sale of the Product should be
determined at a later date when Debtors proceed with a sale of the
Product pursuant to appropriate motion and order of the Court.

ING is represented by:

         Craig I. Lifland, Esq.
         ZEISLER & ZEISLER, P.C.
         10 Middle Street
         Bridgeport, CT 06604
         Tel: (203) 368-4234
         Fax: (203) 367-9678
         Email: clifland@zeislaw.com

            -- and --

         Daniel J. Guyder, Esq.
         John Kibler, Esq.
         ALLEN & OVERY LLP
         1221 Avenue of the Americas
         New York, NY 10020
         Tel: (212) 610-6300
         Fax: (212) 610-6399
         Email: daniel.guyder@allenovery.com
                john.kibler@allenovery.com

Vopak is represented by:

         Shannon B. Wolf, Esq.
         BRACEWELL & GIULIANI LLP
         CityPlace I, 34th Floor
         185 Asylum Street
         Hartford, CT 06103
         Tel: (860) 256-8558
         Fax: (800) 404-3970
         E-mail: shannon.wolf@bgllp.com

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


O.W. BUNKER: Seeks Joint Administration of Ch. 11 Cases
-------------------------------------------------------
O.W. Bunker Holding North America Inc., et al., ask the U.S.
Bankruptcy Court for the District of Connecticut - Bridgeport
Division, to issue an order directing the joint administration of
their Chapter 11 cases for procedural purposes only and under lead
case no. 14-51720.

Joint administration, according to the Debtors, will save time and
money and avoid duplicative and potentially confusing filings by
permitting counsel for all parties-in-interest to use a single
caption on the numerous documents that will be served and filed
herein and file the papers in one case rather than in multiple
cases.

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


OCEANIA CRUISES: S&P Withdraws 'B' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B' corporate
credit ratings on Oceania Cruises Inc. and Seven Seas Cruises S de
R.L.  S&P also withdrew the issue-level and recovery ratings on
the companies' debt.

"The ratings withdrawal reflects the completion of NCL Corp.
Ltd.'s acquisition of Prestige Cruises (the parent company of
Oceania and Seven Seas) on Nov. 19, 2014," said Standard & Poor's
credit analyst Shivani Sood.

NCL used proceeds from recent financing transactions to refinance
the existing credit facilities of Seven Seas and Oceania, and to
satisfy and discharge the indenture governing Seven Seas' second-
priority senior secured notes.


ORTHOFIX INTERNATIONAL: Provides Update on NASDAQ Listing Matters
-----------------------------------------------------------------
As previously disclosed, Orthofix International N.V. participated
in a hearing before a NASDAQ Hearings Panel on October 2, 2014 in
connection with the Company's non-compliance with NASDAQ Listing
Rule 5250(c)(1) due to the delayed filing of its Quarterly Report
on Form 10-Q for the fiscal quarter ended June 30, 2014, and the
Company's anticipated financial restatement relating to prior
periods.

At the hearing, the Company requested that the Hearings Panel
grant the Company through January 15, 2015 to make these filings,
as well as the Company's Quarterly Report on Form 10-Q for the
fiscal quarter ended September 30, 2014, though the 2014 Third
Quarter Form 10-Q was not yet due as of the hearing date under the
rules of the Securities and Exchange Commission.

On October 9, 2014, the Company received a decision letter from
NASDAQ's Office of General Counsel stating that the Hearings Panel
had granted the Company's request and, accordingly, the Company's
common stock would continue to trade on the NASDAQ Stock Market
provided that the Company becomes current in its periodic filings
with the SEC on or before January 15, 2015.

On November 19, 2014, the Company received an anticipated letter
from NASDAQ noting that the 2014 Third Quarter Form 10-Q had not
been filed by its due date with the SEC on November 10, 2014 and,
as such, represented an additional basis for non-compliance with
Listing Rule 5250(c)(1).

The Company continues to work to complete the procedures needed to
file its two delayed quarterly reports, as well as the amended
reports containing its restatement for prior periods.  As
requested by the letter from NASDAQ, the Company was expected to
provide a written update to the Hearings Panel regarding these
matters on November 25, 2014.

                       About Orthofix

Orthofix International N.V. -- http://www.orthofix.com/-- is a
diversified, global medical device company focused on improving
patients' lives by providing superior reconstructive and
regenerative orthopedic and spine solutions to physicians
worldwide.  Headquartered in Lewisville, TX, the company has four
strategic business units that include BioStim, Biologics,
Extremity Fixation and Spine Fixation.  Orthofix products are
widely distributed via the company's sales representatives,
distributors and subsidiaries.  In addition, Orthofix is
collaborating on research and development activities with leading
clinical organizations such as the Musculoskeletal Transplant
Foundation and the Texas Scottish Rite Hospital for Children.


PALM BEACH FINANCE: Fraud Suit Against BMO Harris Continues
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that BMO Harris Bank NA failed to halt a $23.6
billion lawsuit filed in September by the trustee for creditors of
two funds victimized by Thomas Petters, the perpetrator of the
third-largest U.S. Ponzi scheme, after a bankruptcy judge declined
to halt the new suit and is requiring the bank to submit papers
asking for dismissal.

According to the report, sometime next year, the judge is to rule
in the first-filed suit and decide whether the bank lacked
sufficient knowledge to provide immunity from liability or was a
"mere conduit" that can't be tagged for transfers to someone else.

The lawsuit is Mukamal v. BMO Harris Bank NA (In re Palm Beach
Finance Partners LP), 14-ap-01660, U.S. Bankruptcy Court, Southern
District of Florida (West Palm Beach).

                        About Petters Group

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Fruth, Jamison & Elsass, PLLC, represents Douglas Kelley, the duly
appointed Chapter 11 Trustee of Petters Company, Inc., et al.  The
trustee tapped aynes and Boone, LLP as special counsel, and Martin
J. McKinley as his financial advisor.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.

                      About Palm Beach Funds

Palm Beach Gardens, Florida-based Palm Beach Finance Partners,
L.P., was a hedge fund.  The Company solicited capital
contributions from third-party limited partners, and proceeded to
invest substantial amounts of the capital with the Petters
Company, Inc.

The Company filed for Chapter 11 on Nov. 30, 2009 (Bankr. S.D.
Fla. Case No. 09-36379.)  The Debtor's affiliate, Palm Beach
Finance II, L.P., also filed for bankruptcy (Bankr. S.D. Fla. Case
No. 09-36396).  Paul A. Avron, Esq., and Paul Steven Singerman,
Esq., assisted the Debtors in their restructuring efforts.  Palm
Beach Finance II estimated $500 million to $1 billion in assets
and liabilities in its petition.

In October 2010, Judge Paul G. Hyman confirmed the Plan of
Liquidation for Palm Beach Finance Partners, L.P., and Palm Beach
Finance II, L.P., proposed by Barry Mukamal, as Chapter 11 trustee
and Geoffrey Varga, as joint official liquidator of the Debtors.
The Chapter 11 trustee is represented by Michael S. Budwick, Esq.
-- mbudwick@melandrussin.com -- at Meland Russin & Budwick, P.A.


PETAQUILLA MINERAL: Closing of Bridge Loan Delayed
--------------------------------------------------
Further to its news release of October 1, 2014, Petaquilla
Minerals Ltd. on Nov. 25 announces that closing of the bridge loan
expected last month has been delayed due to issues that arose
during due diligence.  As a result, the Company is pursuing
alternative financing arrangements.

In addition, further to its news releases of October 20, 2014, and
November 13, 2014, the Company provides this second biweekly
default status report in accordance with the alternative
information guidelines in National Policy 12-203, Cease Trade
Orders for Continuous Disclosure Defaults ("NP 12-203").

On October 20, 2014, the Company announced the filing of the
Company's audited annual financial statements, related
management's discussion and analysis and accompanying
certifications for the 13-months ended July 31, 2014, would not be
completed by the prescribed deadline of October 29, 2014, for the
filing of such documents.

As a result of the delay in filing the Required Filings, the
British Columbia Securities Commission granted a management cease
trade order on October 30, 2014, prohibiting all trading in the
securities of the Company, whether directly or indirectly, by
certain insiders of the Company until such time as the Required
Filings have been filed by the Company and the MCTO revoked by the
BCSC.  The MCTO does not affect the ability of shareholders who
are not insiders of Petaquilla to trade their securities.

Petaquilla's Board of Directors and management confirm that they
are working expeditiously to meet the Company's obligations
relating to the filing of the Required Filings no later than
December 29, 2014.

Pursuant to the provisions of the alternative information
guidelines of NP 12-203, the Company reports that since the
Default Announcement:

   -- There have been no material changes to the information
contained in the Default Announcement;

   -- There have been no failures by the Company to fulfil its
stated intentions with respect to satisfying the provisions of the
alternative reporting guidelines;

   -- There has not been any specified default subsequent to the
default which is the subject of the Default Announcement; however,
the Company, if unable to file the Required Filings by December
15, 2014, will also become delinquent in filing its interim
financial statements for the 3- months ended October 31, 2014; and

   -- There is no other material information respecting the
Company's affairs that has not been generally disclosed.

Until the Required Filings are filed, the Company intends to
continue to satisfy the provisions of the alternative information
guidelines of NP 12-203 by issuing biweekly default status
reports, each of which will be issued in the form of a news
release and also filed on SEDAR. The Company expects to file its
next default status report on or about December 10, 2014.

                 About Petaquilla Minerals Ltd.

Petaquilla is a growing, diversified gold producer committed to
maximizing shareholder value through a strategy of efficient
production, targeted exploration and select acquisitions.  The
Company operates a surface gold processing plant at its Molejon
Gold Project, located in the south central area of Panama.  In
addition, the Company has exploration operations at its wholly-
owned Lomero-Poyatos project located in the northeast part of the
Spanish/Portuguese (Iberian) Pyrite Belt and several other
exploration licenses in Iberia.


POWERTEAM SERVICES: S&P Raises Rating on 1st Lien Loans to 'B+'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it revised the recovery
rating on U.S.-based utility maintenance and infrastructure
services provider PowerTeam Services LLC's senior secured first-
lien credit facilities to '2' from '3'.  At the same time, S&P
raised the issue-level ratings on the company's first-lien credit
facilities to 'B+' from 'B', one notch above its 'B' corporate
credit rating on the company.  The company's first-lien credit
facilities include a $60 million revolving credit facility due
2018 and $421 million in term loans due 2020.  The '2' recovery
rating indicates S&P's expectation of substantial (70%-90%)
recovery in the event of a payment default.

"We revised the recovery rating based on a moderate improvement in
our projected recovery assessment because of lower assumed
outstanding borrowings under the company's delayed draw first-lien
term loan.  As a result of the lower first-lien debt assumption,
more of PowerTeam's reorganization value becomes available to
support recovery for senior secured first-lien lenders under our
analysis.  The 'B' corporate credit rating and stable outlook are
unchanged.  The rating reflects the company's high leverage, with
adjusted debt to EBITDA over 6x, along with our belief that
PowerTeam will achieve positive free cash flow in 2014, given
relatively favorable trends in the electric and gas utility
maintenance outsourcing markets, and its track record of EBITDA
margins in the high-teens percentage area," S&P said.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P has valued the company on a going-concern basis using a
      5.5x multiple of its projected emergence EBITDA of $75
      million.

   -- S&P estimates that, for the company to default, EBITDA would
      need to decline meaningfully, representing a material
      deterioration from the current state of its business.

Simulated default assumptions:

   -- Simulated year of default: 2017
   -- EBITDA at emergence: $75 mil.
   -- EBITDA multiple: 5.5x

Simplified Waterfall

   -- Net enterprise value (after 5% admin. costs): $392 mil.
   -- Valuation split in % (Obligors/Non-obligors): 100/0
   -- Priority claims: $9 mil.
   -- Collateral value available to secured creditors: $383 mil.
   -- Secured first-lien debt: $472 mil.
   -- Recovery expectations: 70% to 90% (high end)
   -- Secured second-lien debt: $173 mil.
   -- Recovery expectations: 0% to 10%

Notes: All debt amounts include six months of prepetition
interest.  Collateral value equals asset pledge from obligors
after priority claims plus equity pledge from non-obligors after
non-obligor debt.

RATINGS SCORE SNAPSHOT

Corporate credit rating: B/Stable/--
Business risk: Weak
   -- Country risk: Very low
   -- Industry risk: Moderately high
   -- Competitive position: Weak
Financial risk: Highly leveraged
   -- Cash flow/leverage: Highly leveraged
Anchor: b
Modifiers
   -- Diversification/portfolio effect: Neutral (No impact)
   -- Capital structure: Neutral (No impact)
   -- Liquidity: Adequate (No impact)
   -- Financial policy: Financial sponsor-6 (No impact)
   -- Management and governance: Fair (No impact)
   -- Comparable rating analysis: Neutral (No impact)

RATINGS LIST

PowerTeam Services LLC
Corporate credit rating                B/Stable/--

Issue Ratings Raised; Recovery Rating Revised
                                        To       From
PowerTeam Services LLC
Senior secured
  Revolver due 2018                     B+       B
   Recovery rating                      2        3
  Term loan due 2020                    B+       B
   Recovery rating                      2        3
  Delayed draw term loan due 2020       B+       B
   Recovery rating                      2        3


QUIZNOS: Will Close South Dakota Restaurant on Nov. 30
------------------------------------------------------
Scott Feldman at Rapid City Journal reports that Quiznos will
close on Nov. 30, 2014, its restaurant on Mount Rushmore Road in
South Dakota, following a nationwide trend of shuttered Quiznos
stores and close for business.  Angela Dunn is the manager of the
Quiznos at 1808 Mount Rushmore Road, the report states.

Many Quiznos locations have closed since Quiznos emerged from
Chapter 11 bankruptcy in June, Rapid City Journal relates.

                          About Quiznos

Denver-based Quiznos -- http://www.quiznos.com/-- is a chain
designed for today's busy consumers who are looking for a high
quality, tasty, freshly prepared alternative to traditional fast-
food restaurants.  With locations in 50 states and 30 countries,
Quiznos is one of the world's premier quick-service restaurant
chains and pioneer of the toasted sandwich; Quiznos restaurants
offer creative, chef-created sandwiches and salads using premium
ingredients.  Quiznos was founded in 1981 by chefs who discovered
that toasting brought out the best in every sandwich ingredient.

QCE Finance LLC and its affiliates sought protection under Chapter
11 of the Bankruptcy Code on March 14, 2014.  The lead case is QCE
Finance LLC (Case No. 14-10543, Bankr. D.Del.).  The case is
assigned to Judge Peter J. Walsh.

The Debtors' lead counsel are Ira S. Dizengoff, Esq., Philip C.
Dublin, Esq., Jason P. Rubin, Esq., and Kristine G. Manoukian,
Esq., at AKIN GUMP STRAUSS HAUER & FELD LLP, in New York.  The
Debtors' local counsel is Mark D. Collins, Esq., and Amanda
Steele, Esq., at RICHARDS, LAYTON & FINGER, P.A., in Wilmington,
Delaware.  The Debtors' investment banker and financial advisor is
Matthew J. Hart of LAZARD FRERES & CO. LLC.  Paul Ruh, Mark A.
Roberts, and Jonathan Tibus of Alvarez & Marsal serves as the
Debtors' restructuring advisors.  Prime Clerk LLC serves as the
Debtors' claims and noticing agent.

The lead debtor, QCE Finance LLC, scheduled $736,858 in total
assets plus "undetermined amounts".  It scheduled $618,437,362
plus "undetermined amounts" as liabilities.

The U.S. Trustee has appointed a seven-member official committee
of unsecured creditors.  The Committee has tapped Cousins Chipman
& Brown LLP's Scott D. Cousins, Esq., and Ann Kashishian, Esq.;
and Otterbourg P.C.'s Scott L. Hazan, Esq., Jenette A. Barrow-
Bosshart, Esq., and David M. Posner, Esq., as counsel.

Avenue Capital Management II, L.P. and its affiliates are
represented by John J. Rapisardi, Esq., and Joseph Zujkowski,
Esq., at O'Melveny & Myers LLP in New York.  Fortress Investment
Group and its affiliates are represented by Skadden Arps Slate
Meagher & Flom's Van C. Durrer, Esq.  Co-counsel to the Consenting
First Lien Lenders are Milbank Tweed Hadley & McCloy's Thomas R.
Kreller, Esq., and David B. Zolkin, Esq., and Morris Nichols Arsht
& Tunnell's Robert J. Dehney.  Counsel to the First Lien Agent is
Ropes & Gray's Mark R. Somerstein.  Counsel to the Second Lien
Agent is Pillsbury Winthrop's Bart Pisella, Esq., and Timothy P.
Kober, Esq.  Counsel to Vectra Bank Colorado, National
Association, is Kasowitz Benson's Adam L. Shiff, Esq.

Quiznos' Plan of Reorganization was confirmed by the U.S.
Bankruptcy Court in Wilmington, Delaware on May 12, 2014.  The
company on July 1, 2014, disclosed that it has successfully
completed its financial restructuring and emerged from Chapter 11.


REDDY ICE: S&P Lowers CCR to 'CCC' on Liquidity Constraints
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Dallas-based Reddy Ice Holdings Inc. to 'CCC' from 'B-'.
At the same time, S&P lowered its issue-level rating on Reddy Ice
Corp.'s first-lien secured debt to 'CCC+' from 'B'.  The recovery
rating on this debt remains a '2', indicating S&P's expectation
for substantial (70% to 90%) recovery in the event of a payment
default, reflecting its senior position within the capital
structure.  The outlook is developing. (For analytical purposes
S&P views Reddy Ice and its wholly owned operating subsidiary,
Reddy Ice Corp., as one economic entity.  S&P also treats the
company's preferred stock as 100% debt-like for ratio calculation
purposes.)

"The downgrade reflects our view that Reddy Ice is currently
vulnerable to a covenant breach and dependent on favorable
business, financial, and economic conditions to meet its financial
commitments," said Standard & Poor's credit analyst Chris Johnson.
"Indeed, we believe Reddy Ice's liquidity position is severely
constrained given its continued weaker-than-expected operating
performance resulting in part from unfavorable weather conditions
and higher labor costs, and despite curing its revolver financial
covenant violation at the end of the 2014 third quarter with an
equity contribution.  Moreover, we believe currently weaker-than-
expected operating performance and ongoing capital expenditures
hampered cash flow in the company's critical cash-generating third
fiscal quarter ended Sept. 30, 2014.  This, together with covenant
constraints, could severely compromise its ability to fund working
capital in the first half of 2015 to generate sufficient sales
volume and restore cash flow and liquidity after next year's key
summer selling season."

The developing outlook reflects both the possibility of a near-
term financial covenant breach if operating performance does not
materially improve, or the possibility of some form of longer-term
covenant relief.  If the latter unfolds, S&P could raise its
ratings; if the former unfolds, S&P could lower them.


REICHHOLD HOLDINGS: Seeks Approval of Sale Procedures
-----------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Reichhold Inc., a producer of polyester
resins, seeks approval of procedures governing the sale of its
business to senior secured noteholders in exchange for debt while
taking over affiliates through consensual foreclosure, as
contemplated at the outset of the Chapter 11 reorganization in
September.

According to the report, to facilitate the ultimate sale of the
business to senior secured noteholders, a non-bankrupt affiliate
will act as the so-called stalking horse, which will bid a portion
of the junior bankruptcy loan equal to $15 million in lieu of
cash, waive all junior financing obligations not included in that
amount, and pay closing and wind-down expenses to the extent the
company doesn't have enough cash of its own.

Reichhold proposes that competing bids will be due Dec. 30 in
advance of an auction on Jan. 6, the report related.

                         About Reichhold

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, USA, is one of the
world's largest manufacturer of unsaturated polyester resins and a
leading supplier of coating resins for the industrial,
transportation, building and construction, marine, consumer and
graphic arts markets.  Reichhold -- http://www.Reichhold.com/--
has manufacturing operations throughout North America, Latin
America, the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.  In 2013,
the companies generated $1.08 billion in net revenue, and as of
the year-to-date August 2014, $750 million in net revenues.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

The Reichhold Companies are pursuing a sale transaction that has
two elements:

   (i) a consensual foreclosure by the holders of senior secured
notes on their security interests in the common and preferred
stock in Reichhold Holdings Luxembourg, S.a.r.l. ("RHL"), the
ultimate holding company of all of the non-debtor affiliates that
operate outside the U.S., and

  (ii) a purchase of certain assets of the Debtors by Reichhold
Holdings International B.V. through a credit bid pursuant to
Section 363 of the Bankruptcy Code.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.

Logan & Company is the company's claims and noticing agent.

The cases are assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.  The Creditors' Committee retains Hahn &
Hessen LLP as lead counsel, Blank Rome LLP as co-counsel, and
Capstone Advisory Group, LLC and Capstone Valuation Services, LLC,
as financial advisor.

An Ad Hoc Committee of Asbestos Claimants also appears in the
case.  The Ad Hoc Committee consists of three plaintiff law firms,
Cooney & Conway, Gori Julian & Associates, P.C., and Simmons Hanly
Conroy LLC, each in their capacity as tort counsel for clients of
their firms who have asbestos-related personal injury or wrongful
death claims against the Debtors.  The Committee is represented by
Mark T. Hurford, Esq., at Campbell & Levine, LLC; and Caplin &
Drysdale, Chartered's James P. Wehner, Esq. and Jeffrey A.
Liesemer, Esq.


RENAULT WINERY: Section 341(a) Meeting Scheduled for December 11
-----------------------------------------------------------------
A meeting of creditors in the bankruptcy of Renault Winery, Inc.,
will be held on Dec. 11, 2014, at 1:00 p.m. at Bridge View -
Camden.  Proofs of claim due by March 11, 2015.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                        About Renault Winery

Renault Winery, Inc., and its affiliates own and operate a hotel,
two restaurants, a golf course, and a winery.  The hotel is
located in Egg Harbor City, N.J. and the other businesses are
located on adjacent property in Galloway Township, N.J.  Renault
Winery has served South Jersey as a winery and restaurant facility
for the past 150 years.  Joseph Milza and his wife, Geraldine,
took over the operations of Renault Winery in 1974.

The companies that operate the businesses are Renault Winery Inc.
(winery, restaurant and gift shop), Renault Golf LLC (golf
course), and Tuscany House LLC (hotel, restaurant, and banquet
facility).  Renault Realty Co., Renault Winery Property LLC, and
Renault Winery Inc., own the real estate on which the businesses
operate, as well as other real estate in the immediate area.

Renault Winery, Inc., and four of its affiliates filed Chapter 11
petitions (Bankr. D. N.J. Case. Nos. 14-33075 to 14-33084) on
Nov. 13, 2014.  The petitions were signed by Joseph P. Milza, Sr.,
as president.  The cases are assigned to Judge Andrew B. Altenburg
Jr.  Renault Winery reported total assets of $11.28 million and
total debts of $8.59 million.  The Debtors have tapped Scott M.
Zauber, Esq., and the firm of Subranni Zauber LLC to serve as
their counsel.


REVEL AC: ACR Energy Objects to DIP Financing
---------------------------------------------
BankruptcyData reported that ACR Energy Partners objects to Revel
AC's request to obtain post-petition financing, complaining that
"the final DIP financing order affords broad liens and super-
priority claims, rolling up of the lenders' undersecured pre-
petition claims so that they are afforded the protections of the
broad liens and super-priority claims and broad waivers of
'surcharge' and 'equities of the case' challenge rights under the
proposed final order, notwithstanding that neither the DIP
financing budget nor the DIP financing 'carve-out' will provide
for payment of or reserve for all asserted administrative claims."

Law360 reported that Revel maintained that the objections to its
proposed DIP financing are unfounded because the hotel carefully
negotiated the loan to get the troubled property auctioned.  Bill
Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the Official Committee of Unsecured Creditors
also objected to the proposed DIP financing, quoting the
bankruptcy judge as saying that the loan was "probably the most
onerous DIP financing I've ever seen."

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and
operates Revel, a Las Vegas-style, beachfront entertainment resort
and casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19,
2014, to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-
16253) on March 25, 2013, with a prepackaged plan that reduced
debt by $1.25 billion.  Less than two months later on May 15,
2013, the 2013 Plan was confirmed and became effective on May 21,
2013.


REVEL AC: Brookfield's Deal to Buy Casino Still in Play
-------------------------------------------------------
Tom Corrigan, writing for Daily Bankruptcy Review, reported that
lawyers representing Atlantic City, N.J.'s Revel Casino Hotel will
meet with a handful of its creditors to try to salvage a deal to
sell the shuttered boardwalk resort to a Canadian private-equity
firm.  According to the report, the lawyers announced the meeting
at the conclusion of a bankruptcy court hearing held on Nov. 21
after the private-equity firm, Brookfield Capital Partners LP,
threatened to back out of a $110 million deal to buy the property.

                          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.


SAMUEL WYLY: Explore Booksellers Price Drops by $1 Million
----------------------------------------------------------
The listing price for Sam Wyly's Explore Booksellers in Aspen,
Colorado, was lowered by $1 million to $5.5 million this month
from $6.5 million in June, Rick Carroll at The Aspen Times
reports, citing Karen Setterfield, the listing agent for the Main
Street property.

Alabama-based Compass Bank, which claims Mr. Wyly owed it about
$4.4 million, said in a Nov. 7 court filing, "Given the unique
nature of the bookstore, an expedited sale may not be in the
interest of (Wyly's creditors)."  Compass Bank said in the filing
that if Mr. Wyly sells Explore Booksellers, he will "reap the
upside of any lucrative deal, and suffer the downside of any
deficiency following a short sale."

"The net funds to be collected from the sale of the bookstore will
be used to pay amounts due to Compass, with any excess funds to be
available to make payments pursuant to a plan or reorganization,"
the attorneys for Mr. Wyly said in a court filing.

According to Aspen Times, Compass Bank argued that Mr. Wyly's
attorney has admitted that Explore Booksellers produces "minimal
revenues to fund payments" to the bank.

Aspen Times relates that Mr. Wyly is engaged in a debt-collection
dispute with Compass Bank as part of the Debtor's Chapter 11
bankruptcy case in Dallas.  According to the report, about $3.5
million of the amount owed to Compass Bank is the principal amount
on a $3.96 million loan that was used to buy Explore Booksellers,
while the rest of the amount comes from unpaid interest and
attorneys' fees.  Compass Bank said in the court filing that Mr.
Wyly wants to transfer more than $12 million from accounts at the
bank, which already has frozen $5.2 million of that.

Mr. Wyly is protected by the bankruptcy proceedings, but according
to Aspen Times, Compass Bank is arguing that it should be an
exception to the rule or that it be allowed to retain the $5.2
million that it has frozen.

Aspen Times relates that the attorneys for Mr. Wyly on Friday
objected to Compass Bank's motion, and asked the court to give
their client more time to sort out his debts.  Mr. Wyly's lawyers
said in a court filing that allowing Compass Bank to pursue its
debt would "diminish (Wyly's) estate to the detriment of all the
other creditors."

Compass Bank said in its Nov. 7 filing that "continuing to accrue
additional costs to maintain the existing loan with Compass
without obtaining any return on (Wyly's) invested capital does not
appear to make any sound financial sense for a Chapter 11 debtor."

                        About Samuel Wyly

Samuel Wyly filed for Chapter 11 bankruptcy protection on Oct. 19,
2014, weeks after a judge ordered him to pay several hundred
million dollars in a civil fraud case.  In September, a federal
judge ordered Mr. Wyly and the estate of his deceased brother to
pay more than $300 million in sanctions after they were found
guilty of committing civil fraud to hide stock sales and nab
millions of dollars in profits.

The case is In re Samuel E. Wyly, 14-35043, U.S. Bankruptcy Court,
Northern District of Texas (Dallas).


SAN BERNARDINO, CA: Warns It May Contract Out Services, Raise Debt
------------------------------------------------------------------
Tim Reid, writing for Reuters, reported that bankrupt San
Bernardino, California, might have to contract out essential
services and place a revenue bond on the ballot in 2015 elections
after a measure failed that would have lowered base pay for police
and firefighters, said Paul Glassman, the city's bankruptcy
attorney.

According to the report, Mr. Glassman told the federal judge
overseeing the city's bankruptcy that a rejection by voters of a
pay-cutting ballot measure for police and firefighters was a
"gamechanger" that had thrown the restructuring plan off track.

                   About San Bernardino, Calif.

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles
(104 km) east of Los Angeles, estimated assets and debts of more
than $1 billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.


SANDLEWOOD AFFORDABLE: S&P Lowers Rating on 2011A Bonds to 'B+'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating to 'B+' from
'BB' on the Charlotte Housing Authority, N.C.'s series 2011A and
2011A-T revenue bonds, issued for Sandlewood Affordable Housing
LLC's Sandlewood Apartments.  The outlook is negative.

"The 'B+' rating reflects the application of our affordable
multifamily housing criteria released June 19, 2014, and, more
specifically, our view of the project's high loan-to-value ratio;
low debt service coverage, significantly below pro forma
estimates; and high vacancy," said Standard & Poor's credit
analyst Lawrence Witte.

These weaknesses are somewhat offset by the:

Strong economic fundamentals and market dependencies based on
projected local population growth and low rents at the property
relative to the local market and Strong market position based on
the experience and strategic oversight by management and the local
rental market.


SEEGRID CORP: Fights Bid To Delay Ch. 11 Confirmation
-----------------------------------------------------
Law360 reported that bankrupt robotics developer Seegrid Corp.
slammed a bid by its former chief executive officer that seeks to
postpone a December confirmation hearing for its Chapter 11
restructuring plan, claiming that any delay would hurt the
company.

According to the report, investors led by former CEO Anthony
Horbal launched a pair of motions urging the Delaware bankruptcy
court to push back the confirmation hearing into January or
February and consider its postponement request on an expedited
basis, arguing that Seegrid had not provided timely discovery
required for the Dec. 10 hearing to proceed as scheduled.  Seegrid
objected that the motion to expedite should be denied, saying the
request is ?based entirely on harms and delays the Horbal group
has manufactured -- including serving overbroad discovery requests
and failing to participate in discovery in good faith -- to create
the appearance of prejudice," the report related.

                    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.


SOCIEDAD EL PARAISO: Case Summary & Unsecured Creditor
------------------------------------------------------
Debtor: Sociedad El Paraiso, SE
        University Gardens 909
        Calle Duke Apt TH7
        San Juan, PR 00927

Case No.: 14-09700

Chapter 11 Petition Date: November 24, 2014

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

Debtor's Counsel: Maria Soledad Lozada Figueroa, Esq.
                  LOZADA LAW & ASSOCIATES, LLC
                  PO Box 9023888
                  San Juan, PR 00902
                  Tel: 787 520 6002
                  Fax: 787 520 6003
                  Email: lcdamslozada@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Conrado Rosa Guzman, authorized
representative.

The Debtor listed Scotiabank Puerto Rico as its largest unsecured
creditor holding a claim for $845,000.

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

             http://bankrupt.com/misc/prb14-09700.pdf


ST. CATHERINE'S HOSPITAL: Trustee Has Buyer for Vacant Hospital
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the Chapter 7 trustee for the non-operating
St. Catherine Medical Center of Fountain Springs has found a buyer
willing to pay $550,000 for the now vacant hospital building.

According to the report, the trustee said a private sale is the
best way to maximize proceeds and sell the property quickly for
the benefit of the estate and its creditors.  The buyer said it
will invest $4 million to $5 million in updating the facility,
potentially employing 200 people, the report related, citing the
trustee.

The case is In re St. Catherine Hospital of PA LLC, 12-bk-02073,
U.S. Bankruptcy Court, Middle District of Pennsylvania (Wilkes-
Barre).


STG-FAIRWAY ACQUISITIONS: S&P Rates $485-Mil. 1st Lien Debt 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B'
issue rating (the same level as the corporate credit rating) to
global solutions provider STG-Fairway Acquisitions Inc.'s (doing
business as First Advantage Corp.) proposed $485 million first-
lien term loan due 2021.  S&P also assigned its 'B' rating to the
proposed $50 million revolver due 2019.  The recovery rating on
the revolver and the first-lien term loan is '3', indicating S&P's
expectation that lenders could expect meaningful (50%-70%)
recovery in the event of a payment default or bankruptcy.  At the
same time, S&P assigned its 'CCC+' issue rating (two notches below
the corporate credit rating) to the $170 million second-lien term
loan due 2022.  The recovery rating is '6', indicating S&P's
expectation that lenders could expect negligible (0%-10%) recovery
in the event of a payment default or bankruptcy.

S&P expects the company to use the net proceeds to refinance its
existing debt and fund a shareholder distribution.  Shortly after
the proposed transaction closes, S&P expects to withdraw its
ratings on the company's existing debt, including its $25 million
revolver due 2018, $315 million first-lien term loan due 2019, and
$125 million second-lien term loan due 2019.  Pro forma for the
proposed issuance, S&P estimates STG has approximately $655
million of debt outstanding as of June 30, 2014.

The 'B' corporate credit rating remains unchanged.  The outlook is
stable.

S&P's ratings on STG reflect its significant debt burden,
aggressive financial policy, and narrow business focus in a sector
with low growth prospects.  The company has good customer and
sector diversification within the background check services
industry.  However, S&P believes pricing pressure will remain
intense thanks to the highly fragmented nature of the industry and
low switching costs.  S&P expects consolidation in the industry to
continue, and for STG to grow through acquisition.  S&P also
believes there is increasing risk of data intrusions/breaches of
highly personal confidential information for companies that handle
large amounts of data, including STG.  These factors support S&P's
"weak" business risk assessment.  S&P's "highly leveraged"
financial risk assessment reflects its forecast for leverage in
the mid- to high-5x area and funds from operations to debt below
12%.

RATINGS LIST

STG-Fairway Acquisitions Inc.
Corporate Credit Rating                     B/Stable/--

New Rating

STG-Fairway Acquisitions Inc.
$485 mil. first-lien term loan due 2021
Senior Secured                              B
  Recovery Rating                            3
$50 million revolver due 2019
Senior Secured                              B
  Recovery Rating                            3
$170 million second-lien term loan due 2022
Senior Secured                              CCC+
  Recovery Rating                            6


TELEPHONE AND DATA: Moody's Cuts Sr. Unsecured Debt Rating to Ba2
-----------------------------------------------------------------
Moody's Investors Service has downgraded the senior unsecured debt
rating of Telephone and Data Systems, Inc. ("TDS" or "the
company") to Ba2 from Baa3, assigned a Corporate Family Rating of
Ba1 and assigned a Probability of Default Rating of Ba1-PD. As
part of the rating action, Moody's has assigned a speculative
grade liquidity rating of SGL-1. The senior unsecured ratings of
United States Cellular Corp. ("USM" or "US Cellular"), TDS' 84%
owned subsidiary, were downgraded by one notch to Ba1. These
ratings actions are based on Moody's view that additional debt
will be issued to fund the growth of the business and to purchase
additional spectrum. On November 24, 2014 United States Cellular
Corporation announced that its Board of Directors has authorized
the company to issue debt securities under its existing Form S-3
Registration Statement and/or enter into new lines of credit or
other credit arrangements with one or more banks or financial
institutions, including term loans, up to a maximum aggregate
amount of $500 million. Consequently, Moody's expect leverage
(Debt to EBITDA) at both TDS and USM will increase to above 3.0
times (Moody's adjusted), which is above Moody's previously
identified level (2.75 times) for a rating downgrade. The rating
outlook for TDS and US Cellular remains negative.

Moody's has taken the following rating actions:

Telephone and Data Systems, Inc.

Corporate Family Rating: Assigned Ba1

Probability of Default Rating: Assigned Ba1-PD

Speculative Grade Liquidity Rating: Assigned SGL-1

Senior Unsecured Rating: Downgraded to Ba2, LGD4 from Baa3

Outlook: Remains Negative

United States Cellular Corp.

Senior Unsecured Rating: Downgraded to Ba1, LGD3 from Baa3

Senior Unsecured Shelf: Downgraded to (P)Ba1 from (P)Baa3

Outlook: Remains Negative

Ratings Rationale

The two notch downgrade of Telephone and Data Systems senior
unsecured rating from Baa3 to Ba2 reflects its junior position in
the capital structure and the relatively significant amount of
senior debt that is likely to remain outstanding at United States
Cellular Corp. The senior unsecured debt of US Cellular, the
company's largest operating subsidiary, is downgraded by one notch
to Ba1 from Baa3 based on its structural seniority. Moody's
believe that additional debt is likely to be incurred by USM,
whether or not it is successful in acquiring spectrum in the
ongoing AWS-3 spectrum auction. Moody's believe that TDS Telecom's
operations, which have expanded significantly as a result of
several acquisitions, will provide support to TDS parent
bondholders since Moody's expect the wireline segment to generate
$50 to $100 million a year in distributable cash flow in 2014 and
2015.

Telephone and Data System's Ba1 Corporate Family Rating largely
reflects the intense competitive challenges that it largest
subsidiary, US Cellular, faces. USM generates about 75% of TDS's
consolidated revenues and about 60% of its earnings and cash flow.
US Cellular had endured 18 consecutive quarters of postpaid
subscriber losses before the most recent quarter (3Q 2014) when it
added 52,000 postpaid subscribers. Moody's believe that USM's lack
of scale, even with crisp execution, will limit the company's
ability to significantly improve its margins and thus materially
grow earnings and cash flows over the next few years.

USM's Ba1 senior unsecured debt rating reflects the company's
modest leverage, good liquidity, and several valuable non-core
investments that could be monetized in order to provide additional
financial flexibility. USM's rating is constrained by the intense
competitive challenges that it faces as a relatively small
regional wireless operator. US Cellular had endured 18 consecutive
quarters of postpaid subscriber losses amid heightened competitive
activity (when it did not have the ability to offer its customers
the iPhone) and execution mistakes (complications during the
billing system conversion) before the most recent quarter (3Q
2014) when it added 52,000 postpaid subscribers. Nevertheless,
Moody's believe that USM's lack of scale, even with crisp
execution, will limit the company's ability to significantly
improve its margins and thus materially grow earnings and cash
flows over the next few years. Finally, Moody's believe that
additional debt will be issued in order to fund spectrum
purchases, maintain high levels of capital spending (necessary to
sustain market share) and for working capital needs associated
with handset installment plans. Consequently, leverage at USM is
likely to remain elevated over the next few years.

TDS's SGL-1 short-term liquidity rating indicates Moody's
expectation that the company will sustain very good liquidity
through the next 12 to 18 months. Although Moody's expect at least
negative $300 million of free cash flow for 2015, the company has
ample liquidity to meet its cash obligations and capex
requirements. As of September 30, 2014, TDS had $613 million cash
and short-term investments on hand, and USM had $314M cash and
short-term investments on hand. USM is also expected to receive
about $145 million of cash in 2015 from spectrum swaps with third
parties. As of September 30, 2014, TDS has a $400 million revolver
with $399.4 million of availability, and USM has a $300 million
revolver with $282.5 million of availability. The long-term
principal payments due for the remainder of 2014 and the next 4
years represent less than 1% of TDS's total long-term debt
obligations.

The negative outlook reflects the company's challenges of growing
earnings and cash flows efficiently to sustain leverage around 3x
(Moody's adjusted). The company also faces negative forces that
include its relatively small scale in the brutally competitive
wireless business, secular declines in legacy wireline services,
increasing competition and the maturation of the wireless business
in the US.

Since Moody's expects increasing competitive challenges to
constrain USM's ability to grow its earnings and cash flows, a
rating upgrade is unlikely at this time.

The failure to sustain recent positive subscriber trends will have
a negative ratings impact as will additional debt financed
investments. Specifically, if leverage is likely to be above 3.50x
(Moody's adjusted) for an extended period and free cash flow
remains negative, another rating downgrade is likely. Also, a
decision by USM to sell assets (i.e. spectrum, towers) and return
all proceeds to shareholders could also lead to a ratings
downgrade.

The principal methodology used in these ratings was the Global
Telecommunications Industry published in December 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.


TELEPHONE AND DATA: S&P Lowers Corp. Credit Rating to 'BB'
----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Chicago-based Telephone and Data
Systems Inc. and its 84%-owned operating subsidiary, United States
Cellular Corp. (U.S. Cellular) to 'BB' from 'BB+'.  The outlook is
stable.

"At the same time, we lowered our issue-level ratings on the
company's unsecured debt, including debt at its operating
subsidiaries, to 'BB' from 'BB+'.  The '3' recovery rating on this
debt remains unchanged, indicating our expectation for meaningful
(50%-70%) recovery for lenders in the event of a default.  We
would expect to rate the company's proposed $500 million of new
senior unsecured debt in line with ratings on the existing debt.
Although we believe that recovery for unsecured debtholders under
the current capital structure would likely be higher, we cap the
recovery rating on unsecured debt issued by companies in the 'BB'
rating category or higher at '3' to account for the greater risk
of recovery prospects being impaired due to incremental debt
issuance prior to default," S&P said.

S&P expects the company will use proceeds from the planned debt
issuance to fund capital expenditures, spectrum purchases, and to
supplement its liquidity position.

"The ratings downgrade reflects increased leverage as a result of
the proposed debt issuance, combined with depressed profitability
and challenging wireless industry conditions at U.S. Cellular,"
said Standard & Poor's credit analyst Michael Altberg.

Pro forma for the proposed transactions, lease- and pension-
adjusted debt to EBITDA would increase to about 3.6x in 2014 from
S&P's previous forecast of about 3.1x, and it expects it will
remain above 3x in 2015 under its base-case scenario.  In
addition, S&P expects funds from operations (FFO) to debt will be
in the low- to mid-20% area over the next few years.  As a result,
S&P has revised its financial risk profile assessment to
"significant" from "intermediate".

The 'BB' rating also reflects S&P's assessment of the company's
business risk profile, incorporating intense competition at its
wireless subsidiary, U.S. Cellular, and secular pressure on the
wireline business.  Subscriber trends at U.S. Cellular have turned
around quicker than S&P expected, with positive postpaid net
additions in the third quarter of 2014 due to healthy gross
additions and reduced postpaid churn (1.6%).  However, higher
operating and equipment costs continue to put pressure on the
wireless EBITDA margin, which was 9.5% for the third quarter of
2014.  With capital intensity at about 15% of revenue, and growing
working capital cash usage due to handset installment plan
financing, S&P believes the company will need to materially expand
margins in order to generate positive FOCF on a sustained basis.
S&P expects U.S. Cellular will be able to modestly improve margins
in 2015 because of revenue growth from increased smartphone
penetration, the accounting impact from greater take rates of
installment plans, and easier year-over-year comparisons against
nonrecurring billing system related costs in 2014.  However, S&P
believes it will be challenging for U.S. Cellular to improve
margins back to historical levels in the high-teen to low-20% area
because of intense competitive market conditions, which S&P don't
expect to abate anytime soon.

The stable rating outlook reflects S&P's belief that the company
will maintain strong liquidity over the near term, which will
support negative FOCF over the next few years due to depressed
profitability at U.S. Cellular and the high capital intensity of
the wireless and wireline businesses.

S&P could lower the rating if competitive pressure in the wireless
industry intensifies, precluding meaningful margin expansion and a
reversal of negative FOCF trends.  More specifically, if the
company is unable to improve margins at U.S. Cellular, leading to
ongoing negative FOCF and adjusted debt to EBITDA rising above 4x
on a sustained basis, S&P could lower the rating.

While S&P believes an upgrade is unlikely over the next 12 months,
it could raise the rating if the company is able to improve
profitability at U.S. Cellular, putting the company on a path to
generate positive FOCF and maintain adjusted leverage below 3x on
a sustained basis.  More specifically, S&P believes the company
needs to increase EBITDA margins at U.S. Cellular to the high-teen
to low-20% area in order to begin generating sustained positive
FOCF.  As a result, any upgrade scenario would require clear
evidence that the company is on a path to achieve this margin
improvement.


TRUMP ENTERTAINMENT: New Talks w/ Union, NJ Could Save Casino
-------------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
Trump Entertainment Resorts Inc. has offered to restore health
care and some pension benefits to unionized workers in a bid to
keep the Trump Taj Mahal casino from closing in December.
According to the report, Kris Hansen, lawyer for the bankrupt
casino operator, told a judge that ongoing negotiations with Unite
Here Local 54 as well as talks at the ?highest levels of the state
government? could play out in a way that keeps the doors of the
Trump Taj Mahal open.

                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.


TRUMP ENTERTAINMENT: Union Appeal Sent Straight To 3rd Circ.
------------------------------------------------------------
Law360 reported that a Delaware federal judge certified a direct
appeal to the Third Circuit in Trump Entertainment Resorts'
bankruptcy proceedings for Unite Here Local 54, whose collective
bargaining agreement was thrown out to save Trump Entertainment
more than $14.5 million.

According to the report, U.S. Bankruptcy Judge Gross said in his
order that the ruling involves a question of law that has no
controlling decision to look to and requires resolution of
conflicting decisions, adding that an immediate appeal will move
the bankruptcy proceedings along.

                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.


TRUMP ENTERTAINMENT: Johnstone Sells Claim to Sierra Liquidity
--------------------------------------------------------------
In the Chapter 11 case of Trump Entertainment Resorts Inc., one
claim switched hands on Oct. 21, 2014:

     Transferee                   Transferor         Claim Amount
     ----------                   ----------         ------------
Sierra Liquidity Fund, LLC  Johnstone Supply Company    $945.30

                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.


TURNER GRAIN: Receiver Sues Helena National Bank to Recover $315K
-----------------------------------------------------------------
Arkansas Business reports that Kevin P. Keech, the court-appointed
receiver in the bankruptcy case of Turner Grain Merchandising,
Inc., has filed a lawsuit against Helena National Bank in an
attempt to recover approximately $315,000 of the Debtor's money.

The money is sitting in a checking account at the Phillips County
bank, Mr. Keech said in the complaint.  According to Arkansas
Business,  Mr. Keech said he has tried to get his hands on the
money, but the bank hasn't handed it over.

                       About Turner Grain

Turner Grain Merchandising, Inc., sought bankruptcy protection
(Bankr. E.D. Ark. Case No. 14-bk-15687) in Helena, Arkansas, on
Oct. 23, 2014.

According to the docket, the Sec. 341(a) meeting of creditors is
slated for Dec. 15, 2014.  The deadline for objecting to discharge
is Feb. 13, 2015.

Kevin P. Keech, the court-appointed receiver of the Debtor, sought
and obtained permission to employ Keech Law Firm, P.A. as
attorneys for the Debtor.


TURNER GRAIN: Receiver Wants to Conduct Probe on Eight Related Cos
------------------------------------------------------------------
Arkansas Business reports that Kevin P. Keech, the court-appointed
receiver in the bankruptcy case of Turner Grain Merchandising,
Inc., has asked U.S. District Judge James M. Moody Jr. for more
power to investigate at least eight of the Debtor's related
companies including: Agri-Petroleum Sales LLC, Brinkley Truck
Brokerage LLC, and Ivory Rice LLC.

According to Mr. Keech's Nov. 12 filing, he hasn't been able to
determine the precise relationship between the Debtor and the
other firms even though the owners of the Debtor also operate the
other companies.  Mr. Keech said in the filing, "The Receiver has
not yet completed such investigation, but based on the information
currently available to him, it appears Turner Grain and the
Related Entities shared or exchanged funds and other assets and/or
operated as alter egos of each other."

Arkansas Business relats that Mr. Keech believes "there was a
substantial flow of funds between Turner Grain and the related
companies", that the Debtor and the related entities "are
inextricably intertwined", and that some of the related entities
might have some of the Debtor's assets.

                       About Turner Grain

Turner Grain Merchandising, Inc., sought bankruptcy protection
(Bankr. E.D. Ark. Case No. 14-bk-15687) in Helena, Arkansas, on
Oct. 23, 2014.

According to the docket, the Sec. 341(a) meeting of creditors is
slated for Dec. 15, 2014.  The deadline for objecting to discharge
is Feb. 13, 2015.

Kevin P. Keech, the court-appointed receiver of the Debtor, sought
and obtained permission to employ Keech Law Firm, P.A. as
attorneys for the Debtor.


U.S. CELLULAR CORP: Fitch to Rate Planned Debt Issue 'BB+' Rating
-----------------------------------------------------------------
Fitch Ratings expects to rate United States Cellular Corp.'s (USM)
planned debt issuance, which was disclosed on Nov. 24, 2014, when
such financing arrangements commence. USM's board of directors has
authorized the issuance of up to $500 million of debt through debt
securities or other means, including term loans. Proceeds would be
used for general corporate purposes, including working capital,
capital expenditures and potential spectrum purchases.
In Fitch's view, USM's credit metrics -- as well as that of its
parent Telephone and Data Systems, Inc. (TDS) -- following the
issuance of up to $500 million of debt, are expected to remain
within the range appropriate for their current 'BB+' Issuer
Default Ratings (IDRs) and long-term, senior unsecured debt
ratings. USM's ratings consider the consolidated ratings at TDS.
The Rating Outlook remains Stable.

Key Rating Drivers

The 'BB+' IDR reflects the challenges USM's wireless operations
face in the highly competitive wireless environment, which has led
to weak EBITDA margins and lower EBITDA. While subscriber trends
in core markets have begun to stabilize in the second half of
2014, operating profitability in 2014 is expected to be suppressed
due to billing system issues early in the year as well as higher
losses on equipment driven by strong smartphone sales.

Postpaid subscriber additions at USM have been under material
pressure for several years. In the fourth quarter of 2013, USM
began selling the iPhone which Fitch believes may reduce voluntary
churn over time, and should the company succeed in improving gross
additions, may eventually lead to subscriber growth. As results
stabilize and potentially improve, increased losses on equipment
are expected as USM loads more costly 4G LTE smartphones onto its
network, with the impact being offset by increased service revenue
over time. Losses on equipment could come down if there is a
strong uptake of equipment installment plans.

The ratings at TDS and USM reflect the current strong liquidity
position owing to the substantial cash balances, conservative
balance sheet, undrawn revolving credit facilities and long dated
maturities. The consolidated company does not have any material
maturities until 2033.

Fitch expects TDS's gross leverage to rise to approximately 3.0x-
3.1x at year-end 2014, up from 2.1x at year-end 2013. Fitch has
included a portion of partnership distributions (at a level which
Fitch views is sustainable) received from entities it does not
control in its calculations. Assuming participation in upcoming
wireless spectrum auctions, the sale of its non-core tower
business and continued wireless network investment, Fitch expects
leverage to remain around the 3.0x-3.1x level in the intermediate
term.

Fitch expects free cash flow (FCF) levels in 2014 and 2015 to be
negative due to the continued high level of capital investment and
weaker wireless performance.

The sale of non-core assets has mitigated the effect of negative
FCF on USM and TDS. USM is in the process of selling the wireless
towers located in the Chicago and St. Louis markets that were sold
to Sprint. This follows the sale of certain wireless spectrum
licenses in 2013 and 2014 for more than $400 million.

In relation to its total outstanding debt of $1.72 billion at
Sept. 30, 2014, TDS has relatively high balances of cash and
short-term investments, which amounted to $573 million and $40
million, respectively.

Per policy, the company's maturities are very long. The earliest
notes at TDS are due in 2045 ($116 million) and at USM the
earliest maturity is in 2033 ($532 million). At TDS, the $400
million, undrawn revolving credit facility matures in December
2017, and at USM, the $300 million undrawn revolving credit
facility also matures in December 2017.

Rating Sensitivities

Negative Rating Action: Longer term, Fitch believes TDS's ability
to grow revenues and cash flows while competing effectively
against much larger national operators is key to maintaining its
'BB+' IDR. In addition, if gross leverage -- calculated including
partial credit for material wireless partnership distributions in
EBITDA -- approaches 3.5x, a negative action could be
contemplated.

Positive Rating Action: Fitch believes that competitive factors,
current subscriber trends and the company's relative position in
the wireless industry would not likely allow a positive rating
action at this time.


VISTEON CORP: In Talks to Shed Halla Stake
------------------------------------------
Lou Whiteman, writing for The Deal, reported that Visteon Corp.
confirmed it is in talks with a Korean private equity firm Hahn &
Co. to sell its 70% ownership stake in Halla Visteon Climate
Control Corp., a final step in the autoparts maker's long-running
restructuring program.  According to the report, a deal, if
finalized, would likely be substantial, with local Korean media
reports valuing the Halla stake at about 4 trillion won (US$3.6
billion).

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represented the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, served as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor were Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent was Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor was Alvarez & Marsal North America,
LLC.

The Bankruptcy Court entered an order on Aug. 31, 2010, confirming
the Fifth Amended Plan of Reorganization of Visteon Corporation
and its debtor-affiliates.  Visteon emerged from Chapter 11 on
Oct. 1.

                           *     *     *

The Troubled Company Reporter, on March 27, 2014, reported that
Moody's Investors Service assigned a B1 rating to Visteon's
proposed $800 senior secured bank credit facility.  In a related
action Moody's affirmed the B1 Corporate Family Rating, B1-PD
Probability of Default Rating and the company's existing debt
ratings. Visteon's Speculative Grade Liquidity Rating was affirmed
at SGL-3. The rating outlook remains stable.

The TCR, on the same day, also reported that Standard & Poor's
Ratings Services said that it assigned 'BB-' issue ratings to Van
Buren Township, Mich.-based global auto supplier Visteon's
proposed senior secured debt comprising a $600 million term loan B
maturing 2021 and a new five-year $200 million revolving credit
facility.  The recovery rating is '2', which indicates S&P's
expectation for substantial (70% to 90%) recovery for lenders in
the events of a payment default or bankruptcy.  The term loan
issuance, along with some cash from balance sheet, will repay the
remaining $400 million 6.75% Senior Notes (rated 'B+', with a '3'
recovery rating) due 2019 and finance the acquisition of JCI
Electronics.


WIDEOPENWEST FINANCE: Moody's Affirms B2 Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service changed the outlook for WideOpenWest
Finance, LLC (WOW) to negative from stable. The outlook change
incorporates weaker than expected performance and continued
uncertainty as to the company's ability to improve its credit
profile.

Moody's also affirmed WOW's B2 Corporate Family Rating (CFR) and
other ratings as shown.

WideOpenWest Finance, LLC

  Outlook, Changed To Negative From Stable

  Corporate Family Rating, Affirmed B2

  Probability of Default Rating, Affirmed B2-PD

  Speculative Grade Liquidity Rating, Affirmed SGL-2

  13.375% Senior Subordinated Bonds due Oct 15, 2019, Affirmed
  Caa1 (LGD6)

  10.25% Senior Unsecured Bonds due Jul 15, 2019, Affirmed Caa1
  (LGD5)

  Senior Secured Bank Credit Facility, Affirmed Ba3 (LGD3)

Ratings Rationale

WOW's weak operating trends and sizeable debt and interest burden
leave it with questionable ability to achieve an appropriate
credit profile for its B2 CFR, which would include sustainable
leverage in the mid 6 times debt-to-EBITDA range and positive free
cash flow. Since its acquisition of Knology in mid 2012, WOW's
debt rose slightly, and given the lack of both free cash flow
generation and material EBITDA growth since then, leverage remains
above 7 times. Moody's believes an improvement in the cost
structure combined with the possible use of asset sale proceeds
for debt reduction could facilitate better metrics. Nevertheless,
the uncertain trajectory warrants a negative outlook.

Moody's expectations for WOW's leverage to remain high and free
cash flow to remain anemic position it weakly within its B2
corporate family rating. The good liquidity profile affords the
company with time to improve, but the high leverage (in the mid 7
times debt-to-EBITDA range) nevertheless creates minimal
flexibility as the company navigates an intensely competitive
landscape and continues to execute on its combination with
Knology. The maturity of the core video product limits growth
potential, but Moody's believes the high speed data product and
the commercial business could facilitate EBITDA expansion,
supported by a high quality network in most of the company's
footprint. A reduction in both the fixed cost base and cash spent
to achieve synergies creates the potential for increasing free
cash flow and lower leverage after the next several years, but
Moody's expects acquisitions, shareholder distributions, or some
combination of these to keep leverage at 6 times debt-to-EBITDA or
higher and free cash flow below 5% of debt.

The negative outlook reflects the potential for a downgrade absent
a clear path toward sustainable leverage in the mid 6 times range
and sustainable positive free cash flow by the end of 2015.

Inability to reduce leverage to the mid 6 times debt-to-EBITDA
range or to generate sustainable positive free cash flow by the
end of 2015 would likely result in a downgrade. Evidence of
weakening subscriber trends or deterioration of the liquidity
profile could also result in a negative rating action.

Moody's would consider a stable outlook with expectations for
sustained leverage in the mid 6 times debt-to-EBITDA range and
positive free cash flow. A stable outlook would also require
evidence of WOW's ability to maintain or improve its competitive
position. Avista's aggressive fiscal policy including capital
distributions and high leverage, and the magnitude of improvement
in credit metrics required to sustain a higher rating impede
upward ratings momentum over the next few years. A positive action
is highly unlikely without a commitment to a stronger fiscal
policy and an unexpected improvement in metrics, but Moody's would
consider one based on expectations for sustained leverage around 5
times debt-to-EBITDA and free cash flow to debt in the mid to high
single digits, as well as evidence of ability to maintain or
improve its competitive position.

The principal methodology used in this rating was Global Pay
Television -- Cable and Direct-to-Home Satellite Operators
published in April 2013. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

With its headquarters in Englewood, Colorado, WideOpenWest
Finance, LLC provides residential and commercial video, high speed
data, and telephony services to Midwestern and Southeastern
markets in the United States. The company reported 653,800 video,
729,700 high speed data, and 373,900 phone subscribers as of
September 30, 2014 (incorporating the sale of its assets in South
Dakota). WOW expanded to the Southeastern markets with its
acquisition of Knology, Inc., which closed in July 2012. Avista
Capital Partners owns the company, and its annual revenue is
approximately $1.2 billion.


WYNN AMERICA: Fitch Gives 'BB' IDR & Rates $1.25BB Debt 'BB+'
-------------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating to Wynn America, LLC's
$1.25 billion senior secured credit facility consisting of a $375
million revolver due 2019 and an $875 million delayed draw term
loan due 2020.

Fitch has also assigned a 'BB' Issuer Default Rating (IDR) to Wynn
America and affirmed the 'BB' IDR for Wynn Resorts, Ltd (Wynn
Resorts) and its subsidiaries including Wynn Las Vegas LLC (Wynn
Las Vegas), Wynn Macau, Ltd, and Wynn Resorts (Macau), S.A. (Wynn
Macau S.A.; collectively Wynn).  All of the IDRs are linked.

The Rating Outlook is Stable.

Proceeds from the credit facility along with equity contributions
will be used to fund the $1.6 billion Wynn Everett project in
Massachusetts.  Wynn Resorts provides a completion guarantee for
the project.  The credit facility will also benefit from a secured
guarantee from the Massachusetts subsidiaries and will benefit
from the equity in Wynn Las Vegas although Wynn Las Vegas is not a
guarantor.

RATING DRIVERS

Fitch links the IDR of Wynn America to the rest of the corporate
family.  Wynn Las Vegas will be placed under Wynn America,
increasing the strategic importance of Wynn America.  The 'BB+'
rating on Wynn America credit facility reflects the considerable
asset coverage once Wynn Everett opens around late 2017.  Maximum
1st lien debt permitted under the credit facility's credit
agreement is $1.75 billion, which is the credit facility plus a
$500 million additional 1st lien carveout (or $250 million before
the Everett project opens).  Fitch forecasts $325 million EBITDA
for Wynn Everett, equating to 5.4x leverage through the maximum
first-lien permitted.  Additionally, Fitch estimates there is
approximately $3 billion of equity in Wynn Las Vegas that benefits
Wynn America.

Fitch views Wynn's Massachusetts project favorably from a return
on investment (ROI) standpoint, even after accounting for the $1.6
billion budget.  Fitch's 20% ROI estimate reflects Wynn Everett's
position as the closest casino to the Boston area, including the
affluent Norfolk and Middlesex counties.  The ROI could be
pressured somewhat if and when another casino opens in the
southeast Massachusetts region (Region C).  The Massachusetts
Gaming Commission plans to award the Region C license by August
2015 per its website.  However, the Region C license is designated
for a Native American tribe meaning that the land has to be taken
into trust first by the Department of Interior.

The 'BB' IDR on Wynn reflects the financial strength of the Macau
subsidiary (net debt is minimal and Wynn Macau property EBITDA is
more than $1.3 billion), which offsets the weaker financial
strength at the Las Vegas subsidiary (roughly 5.6x net leverage
for the LTM period with $489.7 million of property EBITDA after
corporate expense).  Linkage is supported by strong strategic
linkage between the entities (i.e. common branding, management,
cross-marketing, etc.) and a precedent of support to the weaker
Las Vegas subsidiary.

Wynn's $5.6 billion project pipeline ($4.3 billion remains to be
spent) is the largest in the gaming industry.  The $2.7 billion
remaining cost for the Cotai project is fully funded between cash
on hand, projected free cash flow, and $1.48 billion available on
the revolver in Macau.  Fitch also projects that Wynn Macau can
maintain adequate distributions to Wynn to maintain the parent's
$1.50 per quarter per share regular dividends (about $600 million
annually).

In Fitch's base case, consolidated leverage adjusted for minority
interest income increases to 5.5x by year-end 2015 but begins to
step down in 2016 as the Cotai project opens.  Leverage reaches 4x
by year-end 2018 after the Massachusetts project opens.  In
Fitch's projections, growth on the Las Vegas Strip offsets the
recent softness in Macau until 2016.  Fitch's 2016 EBITDA forecast
includes half a year of Wynn Palace ($660 million full year EBITDA
estimated).

Fitch remains positive on the Las Vegas Strip outlook, especially
relative to other U.S. markets.  Fitch projects that the market
will manage mid-single-digit RevPAR and low single-digit gaming
revenue and visitation growth over the next two to three years.
Fitch is forecasting negative 1% gaming growth for Macau in 2015,
which is largely driven by the expected weakness in 1H15.  Longer-
term, Fitch remains favorable on Macau, as Fitch continues to hold
that Macau and the greater China market remain underpenetrated and
expects gaming revenue growth to be driven by new supply and
infrastructure development.  The Chinese economy will continue to
grow (6.8% in 2015 and 6.5% in 2016), anchoring mass market
demand.

RATING SENSITIVITIES

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

   -- Consolidated gross leverage approaching 4x and net leverage
      declining below 4x following the ramp up of Wynn Palace and
      Wynn Everett projects.  An earlier upgrade is possible if
      Fitch gains a fair amount of comfort that the forecast
      leverage will be in line with these thresholds once the
      project(s) ramps up. (Fitch forecast: gross leverage 5.5x in
      FY15 and 4.0x in FY18)

   -- A resolution of Okada related dispute and investigations by
      U.S. authorities;

   -- Continuation of favorable operating outlook for the Las
      Vegas Strip and stabilization in Macau.

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

   -- Gross leverage sustaining above 5x (6.5x before development
      projects ramp up) (Fitch forecast: gross leverage 5.5x in
      FY15 and 4.0x in FY18);

   -- Unfavorable resolution with respect to Okada related dispute
      and investigations by U.S. authorities;

   -- Reversal of the positive operating environment on the Las
      Vegas Strip and continued negative trends in Macau.

Fitch assigns these ratings to Wynn America, LLC:

   -- Long-term IDR 'BB'; Outlook Stable;
   -- Senior secured credit facility 'BB+'.

Fitch affirms these Wynn corporate family ratings:

Wynn Resorts, Limited

   -- Long-term IDR at 'BB'; Outlook Stable.

Wynn Las Vegas, LLC

   -- Long-term IDR at 'BB'; Outlook Stable;
   -- Senior secured first mortgage notes (FMNs) at 'BB+';
   -- Senior unsecured notes at 'BB'.

Wynn Resorts (Macau), SA

   -- Long-term IDR at 'BB'; Outlook Stable;
   -- Senior secured credit facility at 'BBB-'.

Wynn Macau, Ltd

   -- Long-term IDR at 'BB'; Outlook Stable;
   -- Senior notes at 'BB'.


* Premier Business Centers Opens in Denver, Colorado
----------------------------------------------------
Irvine, California-based Premier Business Centers, the largest
privately owned executive suite operation in the U.S., has
acquired the assets of an existing executive suite operator out of
Chapter 7 bankruptcy in Denver.  This is Premier Business Centers'
first executive suite in Colorado.  Premier negotiated a purchase
agreement with the bankruptcy court Trustee and a new master lease
with the building owner over the course of 8 days.  The executive
office suite is in the Belcaro Place building at 3801 East Florida
Avenue, Suite 400, Denver, CO 80210.  The 13,516 RSF shared office
space has 76 office spaces, 2 conference rooms, a day office, a
kitchen, and a reception area.

Belcaro Place, located on the quiet west side of Colorado
Boulevard just south of Cherry Creek, is a convenient location
providing quick and easy access to I-25 via South Colorado Blvd.
or University Blvd. and is midway between the DTC and Downtown
Denver.  Offices range from 80 to 240 square feet with some of the
window offices having "Front Range of the Rocky Mountains" views.

"We are very excited to have entered the Denver market and open
our first executive suite in Colorado.  We are looking at other
opportunities in the area and hope to open several more centers in
Colorado over the next few years," stated Jeff Reinstein, Chief
Executive Officer for Premier Business Centers.

Premier Business Centers brings a wealth of knowledge and years of
experience to this new location.  An experienced general manager
was brought in to help setup quickly in the market.  Premier will
be spending over $150,000 to renovate and upgrade all of the
furniture, fixtures and equipment to improve this executive office
space.

Belcaro Place (formerly known as Cypress Point) has recently
undergone major capital renovations and improvements to return the
3801 E. Florida building to one of the preeminent office
properties in the market for start-ups, entrepreneurs and Fortune
500 companies, including attorneys, accountants, executives and
mobile working individuals.

Call or visit our website today to schedule a tour, setup a
virtual office or book a meeting room: (303) 991-5865
http://www.pbcenters.com/locations/colorado/executive-suites-
denver

               About Premier Business Centers

Premier Business Centers(R) -- http://www.pbcenters.com/--
operates the largest privately owned executive suite company in
the United States with locations in California, Washington, Texas,
Colorado, Florida and Ohio.  Since 2002, the company has grown
from nine to 71 centers, providing over 1.3 million square feet of
commercial office space and serving more than 6,000 clients daily.
Premier offers fully serviced offices, meeting rooms and virtual
offices enabling businesses of any size to maximize productivity
and profits and establish an immediate professional presence at
major business locations throughout the country.


* Almost No One Defaulted on Junk Debt in October, Moody's Says
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, citing a report from Moody's Investors Service, reported
that where there were 58 world-wide defaults over the first 10
months of 2013, so far this year there have been only 48.
According to the Moody's report, in the U.S. there have been 30
junk defaults so far this year.


* PBGC Publishes Rules on 401(k) Rollovers to Traditional Pensions
------------------------------------------------------------------
The Pension Benefit Guaranty Corporation is publishing a final
rule that makes it easier for participants in 401(k) plans with
rollover options to get lifetime income by moving their funds into
traditional pensions.

The agency hopes to encourage people to get lifetime income by
removing potential barriers to moving their benefits from defined
contribution plans to defined benefit plans.  The final rule,
slated for publication in the Federal Register on Tuesday, removes
the fear that the amounts rolled over would suffer under guarantee
limits should PBGC step in and pay benefits.

When PBGC first proposed the rule in April it was well-received
from various organizations in the pension and retirement
community.

"AARP commends the Pension Benefit Guaranty Corporation for
issuing this proposed regulation," the organization said in a June
2 letter.  "(It) provides additional guarantees for the rollover
of pension benefits, thus facilitating access to lifetime income
streams and bolstering participants' retirement security."

And in its own June 2 letter, the AFL-CIO said, "The Proposed Rule
addresses one significant shortcoming of retirement saving plans
that contributes to retirement insecurity -- the absence of any
meaningful method for providing lifetime retirement income."

Under the final rule, benefits earned from a rollover generally
would not be affected by PBGC's maximum guarantee limits.  For a
plan terminating in 2015, the agency's maximum guaranteed benefit
for a 65-year-old retiree will be just over $60,000 a year.

Also, rollover amounts generally would remain untouched by PBGC's
five-year phase-in limits.  Normally, benefit increases from
changes to a plan in the five years before it ends are partially
guaranteed. Under the new proposal, these restrictions generally
would not apply.

                           About PBGC

PBGC protects the pension benefits of more than 41 million
Americans in private-sector pension plans.  The agency is directly
responsible for paying the benefits of about 1.5 million people in
failed pension plans.  PBGC receives no taxpayer dollars and never
has.  Its operations are financed by insurance premiums,
investment income, and with assets and recoveries from failed
plans. For more information, visit PBGC.gov.


* Donlin Recano Opens New Operations Center in Brooklyn, New York
------------------------------------------------------------------
Donlin Recano has announced the opening of its new operations
center in Brooklyn, New York...

Features:

   -- expanded mailing and document production capacity;
   -- capable of producing 100,000s of documents per day; and
   -- dedicated United States Post Office on the premises.

The operations center is located at:

     6201 15th Avenue
     Brooklyn, NY 11219

               About Donlin, Recano & Company

Donlin, Recano & Company, Inc. -- https://donlinrecano.com/  -- is
an affiliate of American Stock Transfer and Trust Company, LLC.
DRC is a provider of technology solutions for restructuring
transactions.  It provides case management, claims administration
and consulting services to support clients through the
complexities of corporate restructuring -- whether in or out-of-
court.


* Sandra Montgomery Joins Proskauer as Finance Group Partner
------------------------------------------------------------
Global law firm Proskauer on Nov. 25 disclosed that Sandra Lee
Montgomery has joined the Los Angeles office as a partner in its
Finance Group.  Her addition deepens the bench of Proskauer's
nationally recognized Multi-Tranche Finance Group and enhances the
firm's transactional capabilities on the West Coast.

Ms. Montgomery has significant experience in representing
financial institutions, lenders and private equity funds in a wide
array of commercial and corporate finance, asset-based lending,
subordinated debt finance, secured and unsecured lending, and
related workout transactions.  She advises on the establishment of
credit facilities for both public and private companies with a
focus on acquisitions, recapitalizations, restructurings,
refinancings, debtor-in-possession and other strategic financings.

"Sandra's wealth of experience in complicated finance structures
for alternative lenders such as BDCs, debt funds, insurance
companies and CLO's is a perfect fit for our Multi-Tranche Finance
practice. She has spent a substantial amount of time in her
practice representing alternative lenders in debt transactions up
and down the capital structure, including, senior debt,
unitranche, second lien and mezzanine facilities," said Steven
Ellis, partner in Proskauer's Corporate Department and co-head of
the Multi-Tranche Finance Group.  "She is a talented finance
lawyer and will be a great complement to our practice here in the
States and in Europe.  We are extremely excited to have her join
our group."

Ms. Montgomery is well-versed in Article 9 of the Uniform
Commercial Code and other laws related to secured transactions.
She also has handled numerous complex cross-border transactions
involving Australia, Canada, the Cayman Islands, Hong Kong,
Malaysia, Mexico, the Netherlands, Singapore and the UK, among
other countries.

Michael Woronoff, head of Proskauer's Los Angeles office and co-
head of its Mergers & Acquisitions and Private Equity practices,
said "We have an exceptional group of lawyers in Los Angeles and
Sandra's addition is the latest step in our strategy to expand the
comprehensive suite of services we offer clients.  Her keen
ability to structure complex financing transactions -- both
domestic and international ? will be very valuable to our private
equity and financial services clients.  We are delighted she's
joining us."

Ms. Montgomery joins Proskauer from Bingham McCutchen.  She was
named an IFLR1000 2014 Rising Star in Banking and Finance, and one
of Latin America's 2014 Top 50 Female Lawyers in Banking and
Finance by Latinvex.  She is fluent in Portuguese and Korean, and
also speaks French and Spanish.

Proskauer's highly regarded Multi-Tranche Finance Group is a
multi-disciplinary practice that specializes in representing
providers of alternative forms of debt to support leveraged
buyouts, recapitalizations, refinancings, and strategic and
distressed debt acquisitions.  Lawyers in the group are cross-
trained both in finance matters unique to junior capital investors
and insolvency matters that affect the structuring and
restructuring of these investments.  The group also includes
lawyers in tax, fund formation and private equity who focus on
multi-tranche financing matters.

                        About Proskauer

Proskauer -- http://www.proskauer.com-- is a global law firm w
ith 700+ lawyers in 13 offices and approximately 50 areas of
practice.  It advises companies, financial institutions,
investment funds, not-for-profit institutions, governmental
entities and other organizations across industries and borders.


* Wiley Rein Parts Ways with Bankruptcy Group
---------------------------------------------
Brian Baxter, writing for The Am Law Daily, reported that Wiley
Rein confirmed its decision to separate its eight-lawyer
bankruptcy and financial restructuring practice following a
strategic review.  According to the report, citing its annual
AmLaw 200 data, the 277-lawyer firm, whose only office is in
Washington, D.C., saw gross revenue remain flat last year at $232
million as profits per partner increased slightly to nearly $1.2
million.



                             *********

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 ***