TCR_Public/141208.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Monday, December 8, 2014, Vol. 18, No. 341

                            Headlines

16 RIVER ROAD: Case Summary & 6 Unsecured Creditors
16TH STREET REGENCY: Voluntary Chapter 11 Case Summary
AERODYNAMICS INC: Judgment Against CEO Mustn't Affect Flight Plans
AF BORROWER: Moody's Assigns B2 Corporate Family Rating
AG AIR LLC: Case Summary & 20 Largest Unsecured Creditors

AG MO-CP: To Propose Reorganization Plan by April 1
AMERICAN AIRLINES: Asks to Extend Deferral on Pensions
ARRAY BIOPHARMA: To Regain Worldwide Rights to binimetinib
ASTORIA ENERGY: Moody's Rates Sr. Secured Credit Facilities Ba3
BAXANO SURGICAL: Proposes Jan. 8 Auction for Assets

BMOC INVESTORS: Defaults on Wells Fargo Loan, To Lose Burlington
BOSCOV'S INC: Al Boscov Gives $715K to City of Scranton
C.W. WILLIAMS: Funding From Mecklenburg May Resume in June
CAESARS ENTERTAINMENT: Signs Waiver Agreement With UMB Bank
CAPELLA HEALTHCARE: Moody's Rates New $100MM Sr. Secured Loan B2

CAROLINE WYLY: SEC Pursuit Is Ch. 11 Issue, Judge Scheindlin Says
CD STORES: Lisa Price Assures She Will Remain in Control
CLAIRE'S STORES: Incurs $26.8 Million Net Loss in Third Quarter
CLINE MINING: Chapter 15 Case Summary
COMMUNITY HOME: Dec. 9 Hearing on Wells Fargo's Stay Relief Bid

CONNEAUT LAKE PARK: Files for Ch 11 to Dodge Sherriff's Sale
CONYERS 138: Section 341(a) Meeting Scheduled for Jan. 8
COUNTRY STONE: Panel Seeks to Tap McDonald Hopkins as Counsel
CYRIL GRAY: Missing Hearing No Grounds for Punitive Damages
DEB STORES: Case Summary & 30 Largest Unsecured Creditors

DELIA*S INC: To Liquidate Merchandise, Expects to File Chapter 11
DETROIT, MI: Legal Fees for Pension Funds to be Reviewed
DETROIT, MI: Kevyn Orr to Resign as Emergency Manager
ECOSPHERE TECHNOLOGIES: Sells $500,000 Convertible Notes
ECOSPHERE TECHNOLOGIES: To Issue Add'l 3MM Shares Under Plan

ELBIT IMAGING: Extraordinary General Meeting Set for Jan. 8
FREE LANCE-STAR: New Owners Must Sell Radio Stations in 12 Months
GALVATEC INC: Voluntary Chapter 11 Case Summary
GASPARI NUTRITION: HEP Served as Investment Banker in Asset Sale
GBG RANCH: Can Hire Land Agent Services as Wind Energy Experts

GENERAL MOTORS: Finagled End to Interest on $1.5B Loan, JPM Says
GOPICNIC BRANDS: Case Summary & 20 Largest Unsecured Creditors
GREEN MOUNTAIN: Has Exclusive Plan Filing Deadline Moved to Dec. 5
GUIDED THERAPEUTICS: Prices $3.8 Million Public Offering
HUB HOLDINGS: Moody's Affirms 'B3' CFR, Negative Outlook

HUTCHESON MEDICAL: Erlanger Blocked From Foreclosing on Hospital
HYPERDYNAMICS CORP: Posts $4.05-Mil. Net Loss for Third Quarter
IDAHO BANCORP: Gets Approval of Chapter 11 Plan of Liquidation
IMPAX LABORATORIES: Moody's Assigns B1 Corporate Family Rating
INTERMETRO COMMUNICATIONS: Sells 800,000 Preferred Shares

INT'L MANUFACTURING: Asks for Approval of IMGF Settlement
INVERSIONES ALSACIA: Court Confirms Chapter 11 Plan
KANGADIS FOOD: Class Failed in Bid Against Owners, Judge Says
KAHN FAMILY: Wells Fargo to Foreclose on 3 Portions of Complex
KEEPSAKE HOMES: Case Summary & 20 Largest Unsecured Creditors

KEMET CORP: Inks Incentive and Severance Agreement With CFO
LAKES SUPER MARKET: Louie's Fresh Supermarket in Calumet Closes
LATEX FOAM: Reaches Deal with Unsec. Creditors, Files Plan
LEHMAN BROTHERS: Judge Delays Decision on $64M FirstBank Claim
LONG BEACH: Says Amendments to Sale Agreement Necessary

MATADOR PROCESSORS: Hires Biditup to Sell Assets
MEGA RV: Hearing Today on Approval of GE Commercial Agreement
MIG LLC: Dec. 11 Hearing on Approval of Litigation Trust Agreement
MIG LLC: Wants Removal Period Extended to Feb. 25
MINERVA NEUROSCIENCES: Has $27.2-Mil. Net Loss for 3rd Quarter

MONROE HOSPITAL: Files Chapter 11 Liquidating Plan
NAARTJIE CUSTOM KIDS: Sells ZA One Assets to Truworths
NII HOLDINGS: Noteholder Group Assails Plan-Support Deal
NET ELEMENT: Further Amends $50 Million Securities Prospectus
NORTEL NETWORKS: HP Responds to Proposed Deal

PARLIAMENT PARTNERS: Goes to Jan. 15 Plan Hearing
PERMA-FIX ENVIRONMENTAL: Has $1.87-Mil. Net Income in Q3
PETTERS GROUP: Trustee Reaches $93MM Clawback Deal With Fund
PORTER BANCORP: Porter Estate Has 24% Stake as of June 20
PRESIDIO INC: Moody's Puts B1 CFR on Review for Downgrade

PROGRESSIVE CASUALTY: High Court Denies Appeal Over Fee Fight
PWK TIMBERLAND: Wants to Sell Calcasieu Parish to Shalon Latour
PWK TIMBERLAND: Wants to Sell Parish of Vernon for $120,000
QUEST SOLUTION: Adds Thomas Miller to Board of Directors
RADIOSHACK CORP: Shares Trading Briefly Halt on Clash With Lender

RADIOSHACK CORP: November Sales Drop 30%, Says Franchisee
RADIOSHACK CORP: Says It Will Fight Salus Capital Breach Claim
RADIOSHACK CORP: Closes Two Stores in Sacramento
RED SHIELD: Court OKs Sale of Old Town to KPS's Expera
REICHHOLD HOLDINGS: Gets Nod for $106M DIP, January Auction

REVEL AC: Can't Shake Tax Agreements, Atlantic City Says
REVEL AC: BNYM Asserts Right to Adequate Assurance of Payment
SAMUEL WYLY: Aspen Words Director Hopeful to Receive Contribution
SEARS HOLDINGS: Former Prestige Cruise President Named to Board
SEARS HOLDINGS: Closing Stores, Selling Assets to Raise Cash

SENECA BIOENERGY: Files for Chapter 11 Bankruptcy Protection
SEQUENOM INC: Signs $50 Million Patents Agreement With Illumina
SEVEN COUNTIES: To Seek Confirmation of Reorganization Plan Jan. 6
SILVERSUN TECHNOLOGIES: To Sell Class A Shares
SIRIUS INFORMATION: Bankruptcy Leaves Trail of Unpaid Journalists

STOCKTON, CA: Fights Franklin Bid to Reduce $545MM Retiree Claims
SUSSEX RANDOLPH: Case Summary & 11 Unsecured Creditors
TENET HEALTHCARE: Names Dr. Freda C. Lewis-Hall as Director
TITAN ENERGY: Unit Repays $1.4 Million Harborcove Facility
TITAN ENERGY: PTES Acquisition Takes Controlling Interest

TOUCHPOINT METRICS: Reports $39K Net Income in Sept. 30 Quarter
TRUMP ENTERTAINMENT: Seeks DGE's Okay to Shut Down Taj Mahal
ULTURA INC: Committee Retains EisnerAmper as Financial Advisor
UNIVERSITY GENERAL: Hires NexBank to Sell Dallas Hospital
WATERFORD SPEEDBOWL: Creditor Wants OK on Sale Price Reconsidered

YMCA MILWAUKEE: Chapter 11 Plan Gets Unsecured Creditors' Backing

* U.S. Bankruptcy Filings Drop 16% in November
* Investor Group Reaches $1.55B Deal to Refinance Plaza Hotel Debt
* Ch. 11 Pros Foresee Refurbishing of Securities Safe Harbor

* Christopher Samis & L. Katherine Good Join Whiteford Taylor
* Preeminent Bankruptcy Attorney Jeffrey Sabin Joins Venable

* ABI's Commission to Study the Reform of Ch11 to Hold Conference

* BOND PRICING: For The Week From November 24 to 28, 2014


                             *********


16 RIVER ROAD: Case Summary & 6 Unsecured Creditors
---------------------------------------------------
Debtor: 16 River Road Holdings, LLC
        886 Belmont Avenue, Suite B
        North Haledon, NJ 07508

Case No.: 14-34500

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 3, 2014

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

Judge: Hon. Donald H. Steckroth

Debtor's Counsel: Leonard C. Walczyk, Esq.
                  WASSERMAN, JURISTA & STOLZ
                  225 Millburn Ave., Suite 207
                  P.O. Box 1029
                  Millburn, NJ 07041-1712
                  Tel: (973) 467-2700
                  Email: lwalczyk@wjslaw.com
                         attys@wjslaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Gershon Alexander, managing member.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb14-34500.pdf


16TH STREET REGENCY: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: 16th Street Regency LLC
        198-210 16th Street
        Brooklyn, NY 11215

Case No.: 14-46104

Chapter 11 Petition Date: December 3, 2014

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

Judge: Hon. Carla E. Craig

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

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Isaac Mutzen, managing member.

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


AERODYNAMICS INC: Judgment Against CEO Mustn't Affect Flight Plans
------------------------------------------------------------------
Mike Gauntner at Wfmj.com reports Aerodynamics Incorporated is
telling government regulators that a $600,000 civil judgment
against its CEO, Scott Beale, should have no bearing on the
Company's effort to gain approval of daily flight service between
Youngstown Warren Regional Airport and O'Hare International
Airport in Chicago.

Wfmj.com recalls that Lauralynn Remo, the Chief of the Department
of Transportation's Air Carrier Fitness Division, wrote a leter to
the Company in November asking for an update on the status of a
civil lawsuit filed in 2013 in federal court against its CEO.

Wfmj.com adds that a jury in federal court in Virginia favored
earlier this year one of Mr. Beale's former business partners who
claimed he was defrauded by the CEO and awarded compensatory
damages in the amount of $500,000 and punitive damages in the
amount of $100,000.

Mr. Beale believes that the verdict was in error, and that his
former business partner was completely aware of the facts that
ultimately led to the lawsuit, Wfmj.com relates, citing DI
attorneys Aaron Goerlich and Jason Maddux.  According to the
report, the attorneys said that the funds that led to the civil
action were expended in the regional jet project and did not end
up in Mr. Beal's pocket.

Wfmj.com reports that Mr. won't appeal the verdict, and that it is
up to the former business partner to decide if he wishes to pursue
collection against Mr. Beale through bankruptcy court.

                 About Aerodynamics Incorporated

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

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

Judge Phillip J. Shefferly presides over the case.

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


AF BORROWER: Moody's Assigns B2 Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating
and B2-PD probability of default rating to AF Borrower LLC, a
newly formed entity set up to combine Accuvant, Inc. and Fishnet
Security, Inc., two providers of security software and services.
The new entity will be majority owned by private equity firm
Blackstone Group L.P. Moody's also assigned B1 ratings to the
company's first lien debt and a Caa1 rating to its second lien
debt. The ratings outlook is stable.

Ratings Rationale

The B2 corporate family rating reflects the very high leverage of
the company but also considers the combined firms' well-
established customer base and strong growth prospects. Leverage at
closing is estimated at approximately 7x but is expected to
decline towards 5x over the next year driven by revenue growth and
cost synergies. Value-added-resellers (VARs) and distributors with
leverage over much over 5.5x are typically rated below B2, but
usually have more modest growth prospects. Initially, the company
is considered weakly positioned in the B2 category.

The new company is expected to achieve double digit revenue growth
over the next several years driven by strong security software
industry trends and the strength of Accuvant's and Fishnet's
combined domestic coverage and distribution capabilities. The
overall security software industry is expected to grow at mid to
high single digit rates driven by constantly evolving security
threats, challenges of protecting corporate data over mobile,
cloud, hybrid and on-premise environments and increasing
compliance requirements. Both firms have grown substantially
faster than the overall security software industry, implying they
have been able to take share. Accuvant and Fishnet have built a
large base of mid-to large enterprise customers selling a broad
range of security software, appliances and services. The new
company will be one of the largest value-added-resellers of
security software with likely the broadest security sales and
engineering coverage in the U.S. Though margins are much lower for
software VARs than software producers, VARs benefit from having a
broad range of software products and are not subject to ebbs and
flows of a single producer's technology. Security software is
frequently sold through resellers that can recommend and implement
software from a wide variety of producers.

Though Moody's expect leverage will approach 5x and free cash flow
will approach 5% of debt over the near term, initial metrics will
be weak. Based on 2013 results, free cash flow of the two
companies would not cover the incremental pro forma interest
expense from the proposed debt. Growth in revenues and margins is
expected to result in improvements in leverage and free cash flow
over the next year. EBITDA margins of the combined businesses was
approximately 3% (of 2013 gross revenue) and is expected to
improve to 5% over the next two years based on synergies from
combining the two businesses and operating leverage.

Liquidity is adequate based on cash at closing of $17 million, an
undrawn $85 million revolver and expected free cash flow in excess
of $15 million over the next year. The revolver is expected to be
used on a regular basis to fund working capital and consequently
availability may be modest if unforeseen integration challenges
arise.

The ratings could be downgraded if integration difficulties
materially impact the performance of the company, the company is
unable to grow at well over 5% growth rates, leverage is above
5.5x on other than a temporary basis and free cash flow is not on
track to be sustainably above 5%. Though unlikely in the near
term, ratings could be upgraded if leverage is sustained below 4x.

The following ratings were assigned:

Assignments:

Issuer: AF Borrower LLC (Accuvant)

Probability of Default Rating, Assigned B2-PD

Corporate Family Rating, Assigned B2

Senior Secured First Lien Term Loan, Assigned B1 (LGD3)

Senior Secured Second Lien Term Loan, Assigned Caa1 (LGD5)

Outlook, Assigned Stable

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

Accuvant and Fishnet are providers of security software and
services. The combined companies had gross revenues of $1.2
billion in 2013.


AG AIR LLC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: AG Air, LLC
        P.O. Box 39
        Thomasville, PA 17364

Case No.: 14-05594

Chapter 11 Petition Date: December 3, 2014

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Harrisburg)

Judge: Hon. Mary D France

Debtor's Counsel: Robert E Chernicoff, Esq.
                  CUNNINGHAM AND CHERNICOFF PC
                  2320 North Second Street
                  Harrisburg, PA 17110
                  Tel: 717 238-6570
                  Fax: 717 238-4809
                  Email: rec@cclawpc.com

Total Assets: $1.15 million

Total Liabilities: $1.84 million

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pamb14-05594.pdf


AG MO-CP: To Propose Reorganization Plan by April 1
---------------------------------------------------
Dane P. Bays, Esq., at Bays Law Offices, the attorney for AG MO-
CP. LLC, said that he will propose a reorganization plan by April
1, 2015, similar to their current fully?secured 10?year bank loan,
paying back about $150,000 per year, Abc10up.com reports.

Court documents say that Thomas and Denise Moyle, and their son
Andrew claim that the Associated Bank of Milwaukee is attacking
them personally by foreclosing on a loan in which all payments
were current, according to federal bankruptcy documents.
Abc10up.com relates that the Moyles claim that unless the Bank
stops "attacking" their finances it will "inevitably result in
their inability to maintain the other debt obligations."
Abc10up.com says that the LLC loan is guaranteed by the Moyles and
an Iron Mountain hotel they own, Country Inn and Suites.

Abc10up.com states that a creditors meeting was held on Dec. 3,
2014, through a closed circuit TV and was run by U.S. Bankruptcy
Trustee Michael V. Maggio, who was sitting in Grand Rapids.

Houghton, Michigan-based AG MO-CP. LLC filed for Chapter 11
bankruptcy protection (Bankr. W.D. Mich. Case No. 14-90378) on
Nov. 6, 2014.  The Debtor listed $1.9 million in total assets and
$3.55 million in total liabilities.  The petition was signed by
Thomas J. Moyle, managing member.  Dane P. Bays, Esq., at Bays Law
Offices, serves as the Debtor's bankruptcy counsel.  Judge Scott
W. Dales presides over the case.


AMERICAN AIRLINES: Asks to Extend Deferral on Pensions
------------------------------------------------------
Michael A. Lindenberger, writing for Dallas News, reported that
American Airlines, fat with record-setting profits but also
confronting new demands from its pilot union, is asking members of
Congress for a holiday bonus.  According to the report, the
airline is shopping proposed language for an amendment to a 2006
law that would reduce its near-term obligations to its pension
funds.

                     About American Airlines

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

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

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

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

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

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

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

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

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

                          *     *     *

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

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

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

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

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

The TCR, on Nov. 28, 2014, reported that Standard & Poor's Ratings
Services said it raised its ratings on Fort Worth, Texas-based
American Airlines Group Inc. (AAG) and its subsidiaries American
Airlines Inc. and US Airways Inc., including raising the corporate
credit ratings on the entities to 'B+' from 'B'.  The rating
outlook is positive.


ARRAY BIOPHARMA: To Regain Worldwide Rights to binimetinib
----------------------------------------------------------
Array BioPharma Inc. has reached a definitive agreement with
Novartis International Pharmaceutical Ltd. to regain full
worldwide rights to binimetinib, a MEK inhibitor in three Phase 3
trials.  This agreement is conditional on the closing of
transactions announced by Novartis and GlaxoSmithKline PLC (GSK)
on April 22, 2014, which are expected in the first half of 2015,
and remain subject to regulatory approval.  Array had previously
granted Novartis worldwide exclusive rights to develop and
commercialize binimetinib under a 2010 License Agreement, which
will terminate and be superseded by a new set of agreements
between the parties.

"Regaining full worldwide rights to binimetinib, an innovative
late-stage oncology product, represents a tremendous opportunity
for Array," said Ron Squarer, chief executive officer, Array
BioPharma.  "Binimetinib is currently advancing in three Phase 3
clinical trials and, we expect to file for our first regulatory
approval during the first half of 2016.  With this agreement, we
are in a strong position to successfully develop and commercialize
binimetinib to the benefit of cancer patients."

Novartis stated, "Binimetinib has demonstrated promising results
for cancer patients across several different clinical trials.  We
are committed to supporting a successful transition to Array."

                      Terms of the Agreement

Upon deal close, Array will receive up to $85 million and
Novartis' global, exclusive license to binimetinib will terminate
with all rights reverting to Array.  Novartis has agreed to
provide transitional regulatory, clinical development and
manufacturing services as specified below and will assign to Array
patent and other intellectual property rights it owns to the
extent relating to binimetinib.  All clinical trials involving
binimetinib, including the COLUMBUS, NEMO and MILO pivotal trials,
will continue to be conducted as currently contemplated.

Novartis will be responsible for continued conduct and funding of
the COLUMBUS trial.  This obligation will transfer to any future
owner of LGX818 (encorafenib).  Following deal close, Novartis
will reimburse Array for all remaining out-of-pocket expenses and
half of all remaining fully-burdened full time equivalent (FTE)
costs associated with MILO, which Array will continue to conduct.
For NEMO and all other ongoing and planned clinical trials,
Novartis will conduct and solely fund each trial, until a mutually
agreed-upon transition date to Array.  Following this transition,
Novartis will reimburse Array for all remaining out-of-pocket
expenses and half of all remaining fully-burdened FTE costs
required to complete these studies.

Novartis will remain responsible for conducting and funding
development of the NRAS melanoma companion diagnostic until
Premarket Approval is received from the U.S. Food and Drug
Administration.  Following approval, Novartis will transfer the
product and Premarket Approval to a diagnostic vendor of Array's
designation.

Novartis also retains binimetinib supply obligations for all
clinical and commercial needs for up to 30 months after closing
and will also assist Array in the technology and manufacturing
transfer of binimetinib.  Novartis will also provide Array
continued access to several Novartis pipeline compounds including,
but not limited to, LEE011 (CDK 4/6 inhibitor) and BYL719 (-PI3K
inhibitor), for use in currently ongoing combination studies, and
possible future studies, including Phase 3 trials, with
binimetinib.

Additional information is available for free at:

                        http://is.gd/L47uKU

                       About Array Biopharma

Boulder, Colo.-based Array BioPharma Inc. is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  Array
has four core proprietary clinical programs: ARRY-614 for
myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797
for pain and ARRY-502 for asthma.  In addition, Array has 10
partner-funded clinical programs including two MEK inhibitors in
Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis.

The Company's balance sheet at Sept. 30, 2014, showed $135 million
in total assets, $173 million in total liabilities, and a
stockholders' deficit of $37.6 million.

"If we are unable to generate enough revenue from our existing or
new collaboration and license agreements when needed or to secure
additional sources of funding, it may be necessary to
significantly reduce the current rate of spending through further
reductions in staff and delaying, scaling back, or stopping
certain research and development programs, including more costly
Phase 2 and Phase 3 clinical trials on our wholly-owned or co-
development programs as these programs progress into later stage
development.  Insufficient liquidity may also require us to
relinquish greater rights to product candidates at an earlier
stage of development or on less favorable terms to us and our
stockholders than we would otherwise choose in order to obtain up-
front license fees needed to fund operations.  These events could
prevent us from successfully executing our operating plan and, in
the future, could raise substantial doubt about our ability to
continue as a going concern," according to the quarterly report
for the period ended Sept. 30, 2014.


ASTORIA ENERGY: Moody's Rates Sr. Secured Credit Facilities Ba3
---------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 rating to Astoria
Energy LLC's (Astoria Energy) senior secured credit facilities
consisting of a $775 million senior secured term loan due 2021, a
$70 million working capital facility due 2019, and a $7 million
letter of credit for the benefit of the counterparty under a power
purchase agreement that expires in April 2016. Astoria Energy's
rating outlook is stable.

Proceeds will be used to refinance $472 million of an existing
commercial bank financing, provide an upfront distribution to the
sponsors of approximately $223 million, pay a make-whole premium
of $79 million, and to pay other fees and expenses. Astoria Energy
owns Astoria Energy I, the 585 megawatt (summer/winter average
including ducts) combined cycle generating station in the Astoria
section of Queens, NY.

Rating Rationale

According to Moody's Analyst Charles Berckmann, "the Ba3 rating
reflects Astoria's position as a very efficient generator located
within a highly congested load pocket within the most constrained
zone of the New York ISO, allowing it to earn substantial energy
and capacity market premiums well above many other established
capacity and electricity markets". In turn, this location has
substantial barriers for new in-city electric generating supply,
partially mitigating substantial project leverage and makes
refinancing risk more manageable compared to other less leveraged
project financings. NYISO's capacity market construct has also
become more transparent based on recent Federal Energy Regulatory
Commission (FERC) rulings regarding buy-side mitigation, enhancing
predictability around future capacity pricing. With volatility in
NYISO capacity pricing likely more muted than in prior years, the
prospects for cash flow predictability are enhanced. Roughly 55%
of net revenues are expected to be derived from capacity markets
with the remaining 45% coming from the energy markets.

Despite Astoria's locational value, added Berckmann, "the Ba3
rating also reflects significant leverage of nearly $1,325 per
kilowatt and merchant margin exposure on a single electric
generating asset owing principally to the take out of an already
highly leveraged capital structure, sizeable upfront dividend to
the sponsors, and ongoing dividends as a result of the 75% cash
sweep structure." "In the event of under-performance, subject to
the 1.1x distribution test, the owners can still take dividends
out of the project" notes Berckmann. Berckmann further added, "the
rating acknowledges the merchant exposure for nearly 100% of the
cash flows following the expiration in April 2016 of an existing
power purchase agreement with Consolidated Edison that currently
provides relatively stable cash flows". Moody's treats unknown
capacity payments as merchant cash flows as the project
principally receives its payments through monthly spot auctions.

Based on financial sensitivities Moody's has considered, Astoria
Energy should achieve debt service coverage ratios (DSCR) in
excess of 2.0x for the three-year period 2015 to 2017. From a
leverage perspective, funds from operations to debt (FFO/Debt) of
10% is likely during the same three-year period. These are
commensurate with financial metrics consistent with B-rated
project financings. At the same time, the project's
competitiveness as a highly efficient, in-city generation source
as well as the high quality ownership and management and well-
known technology are commensurate with Baa-project finance
ratings. The project's cash flow generating potential even under
more severe downsides, such as capacity pricing near 75% of net
cost of new entry pricing levels for capacity payments, further
supports the Ba3 rating.

The project lenders are mostly served by typical project finance
including a cash-flow waterfall of accounts, a six-month debt
service reserve fund and a 1.1x debt service coverage covenant and
strict limitations on additional indebtedness. On top of the
initial up front distribution, which is 30% of the contemplated
financing structure, the project's 75% cash sweep structure allows
the project owners to continue to take equity out of the project.
Moody's view this feature as a weakness relative to other similar
rated single asset power project financings since the owners will
be able to take out distributions, even during periods of
underperformance so long as some positive excess cash flow is
being generated. The project's diverse ownership group and board
structure provides ample ring-fencing protections, including
unanimous approval of the board plus the consent of an independent
direct to declare bankruptcy, alter the business profile or
maintain single purpose entity status.

The stable rating outlook reflects the locational value that
Astoria Energy enjoys from premium merchant capacity, energy and
ancillary services sales, the view that this valued position is
not likely to appreciably change over the life of the financing,
and the expectation of continued strong operating performance.

The rating is unlikely to face upward momentum given the
substantial leverage contemplated in this refinancing. That said,
to the extent that better than expected and sustained financial
results occur leading to consistent FFO/Debt metrics that exceeds
above 15% and a DSCR above 2.5x both on sustained basis could put
upward pressure on the rating. Additionally, greater than expected
debt reduction owing to substantially stronger operating
performance could also lead to consideration of a higher rating.

Downward rating pressure would occur if Astoria Energy's operating
performance is substantially weaker than expected resulting in
materially higher operating costs or if merchant capacity and
energy revenues are well-below Moody's expectations leading to
FFO/Debt metrics and DSCR consistently less than 10% and 2.0x,
respectively.

Astoria Energy is directly owned by Astoria Project Partners
(APP). APP itself is owned by a consortium of affiliates of GDF
Suez (A1, stable), Mitsui (A2, stable), Energy Investors Funds
(EIF) and Harbert/JEMB. EIF and Harbert are private equity funds
with substantial industry expertise, and JEMB is a real estate and
energy investment firm.


BAXANO SURGICAL: Proposes Jan. 8 Auction for Assets
---------------------------------------------------
The Bankruptcy Court will convene a hearing on Dec. 5, 2014, at
11:30 a.m., to consider approval of the procedures to govern the
sale of substantially all of the assets of Baxano Surgical, Inc.

The Debtor also seeks authorization to designate a stalking horse
bidder for some or all of the offered assets; and in the event a
stalking horse is designated, approve the terms and conditions of
the proposed break-up fee and reimbursement of expenses provided
to the stalking horse.

Further, the Debtor requests that the Court approve the timeline
in relation to the sale of assets:

         Event                                 Date
         -----                                 ----
Stalking Horse Designation Deadline       Dec. 22, 2014
Bid Deadline                           Jan. 6, 2015 at 5:00 p.m.
Auction Date (if necessary)            Jan. 8, 2015 at 10:00 a.m.
Objection Deadline for Sale Hearing    Jan. 13, 2015 at 4:00 p.m.
Sale Hearing                           Jan. 15, 2015 at 10:00 a.m.

Payment of a breakup fee will equal to 3.0% multiplied by the
purchase price of the stalking horse bid offered by the stalking
horse pursuant to the stalking horse agreement, exclusive of any
assumed liabilities.

In the event the Debtor receives one or more qualified bids, the
Debtor will hold an auction at the offices of Stevens & Lee, P.C.,
1818 Market St., 29th Floor, Philadelphia, PA.

                        About Baxano Surgical

Based in Raleigh, North Carolina, Baxano Surgical Inc. develops,
manufactures and markets minimally invasive medical products
designed to treat degenerative conditions of the spine affecting
the lumbar region.  As of March 31, 2013, over 13,500 fusion
procedures and 7,000 decompression procedures have been performed
globally using its products.

Baxano Surgical filed a Chapter 11 bankruptcy petition (Bankr. D.
Del. Case No. 14-12545) on Nov. 12, 2014.  The case is assigned to
Judge Christopher S. Sontchi.

The Debtor estimated $10 million to $50 million in assets and
debt.  The formal schedules of assets and liabilities and
statement of financial affairs are due Dec. 1, 2014.

The Debtor has tapped John D. Demmy, Esq., at Stevens & Lee, P.C.,
in Wilmington, Delaware, as bankruptcy counsel.  The Debtor is
also employing the law firm of Goodwin Proctor LLP as special
counsel, and the law firm of Hogans Lovell as special healthcare
regulatory counsel.  The Debtor is engaging Tamarack Associates
to, among other things, provide John L. Palmer as CRO.  Houlihan
Lokey is serving as the Debtor's investment banker.  Rust
Consulting Omni is the claims and noticing agent.

The Chapter 11 plan and disclosure statement are due March 12,
2015.


BMOC INVESTORS: Defaults on Wells Fargo Loan, To Lose Burlington
----------------------------------------------------------------
Chris Lavender at the Times-News reports that BMOC Investors, LLC,
has defaulted on its loan with Wells Fargo, resulting in a
foreclosure sale of Burlington Outlet Village on Dec. 12, 2014.

The Times-News recalls that the Debtor secured an $8.3 million
loan in 2009 through the property.  Times-News says that in a
second loan modification, filed in February 2012, the Debtor had
an outstanding balance of almost $7.8 million.  The modification,
according to the report, required the Debtor to lower the balance
to $6.5 million in 2013, $5.5 million in 2014 and $4.5 million in
2015.  Court documents show that as of Oct. 1, 2014, the sums owed
under the loan were $5,824,568 in principal and $607,240 accrued
unpaid interest.

According to court documents, Wells Fargo entered into a
settlement agreement with the Debtor on Oct. 28, 2014, which
allows Wells Fargo to foreclose on the property without the
Debtor's challenge.

The Times-News states that the Bankruptcy Court granted on Nov. 7,
2014, Wells Fargo's motion for relief from the automatic stay,
which allowed Wells Fargo to move forward with foreclosure.

The Times-News relates that the Debtor is entitled to have the
property managed by the existing management company, pending the
transfer of the property through foreclosure.

The property is appraised at $4.5 million to $6.5 million, Times-
News reports, citing property owner James Anthony Jr., CEO of
Anthony and Co. in Raleigh, who is listed in court documents as
the Debtor's registered agent.

BMOC Investors, LLC, owner of Burlington Outlet Village in
Raleigh, North Carolina, filed for Chapter 11 bankruptcy (Bankr.
E.D.N.C. Case No. 14-01486) on March 14, 2014.  Judge Stephani W.
Humrickhouse presides over the case.  The Debtor is represented by
George M. Oliver, Esq., at Oliver Friesen Cheek, PLLC, as counsel.
In its petition, BMOC estimated $1 million to $10 million in both
assets and liabilities.  The petition was signed by James I.
Anthony, Jr., member manager.


BOSCOV'S INC: Al Boscov Gives $715K to City of Scranton
-------------------------------------------------------
Jim Lockwood at The Times-Tribune reports that Al Boscov, Chairman
of the board of Boscov's Department Stores, has given Scranton
Mayor Bill Courtright a check for $715,173, to make good on a loan
the city had given years ago to the Mall at Steamtown that went
unpaid.

According to The Times-Tribune, the money is intended to replace a
$612,480 missed loan payment that had been owed by former mall
owner Steamtown Mall Partners, with which Mr. Boscov was and is
affiliated.  Citing Mr. Boscov, the report says that the loan was
guaranteed by the city and covered out of its federal block grant
funds, as well as $102,693 in interest.

Times-Tribune states that Mr. Boscov said he is "grateful for the
support of the city of Scranton and didn't want the city to suffer
any loss of funds."

Travis Kellar at Timesleader.com relates that on Nov. 4, 2014, the
chain said that it reached an agreement to purchase the remaining
assets.  Timesleader.com recalls that in August 2008, Boscov's
said it had a deal with Philadelphia-based Versa Capital
Management to buy its assets.

                       About Boscov's Inc.

Headquartered in Reading, Pennsylvania, Boscov's Inc. --
http://www.boscovs.com/-- is America's largest family-owned
independent department store, with 49 stores in Pennsylvania, New
York, New Jersey, Maryland, Delaware and Virginia.

Boscov's Inc. and its debtor-affiliates filed for Chapter 11
protection (Bankr. D. Del. Case No. 08-11637) on Aug. 4, 2008.
Judge Kevin Gross presides over the cases.

Attorneys at Jones Day served as the Debtors' lead counsel.  The
Debtors' claims agent was Kurtzman Carson Consultants L.L.C.
Attorneys at Cooley Godward Kronish LLP, in New York, and Potter
Anderson & Corroon LLP , in Wilmington, Delaware, represented the
Debtors as co-counsel.

The Debtors changed their names to BSCV Department Store, LLC, et
al., following a sale of the assets to the Boscov family.

In its amended schedules filed with the Court on March 12, 2009,
BSCV Department Store, LLC (f/k/a Boscov's Department Store, LLC)
listed assets of $315.7 million against debt totaling
$314.6 million.  Secured creditors were owed $196.2 million.


C.W. WILLIAMS: Funding From Mecklenburg May Resume in June
----------------------------------------------------------
Jenna Deery at Wsoctv.com reports that Mecklenburg County's
funding of C.W. Williams Community Health Center, Inc., could be
restored in June 2015, after county leaders voted to help keep the
Center from closing.

According to Wsoctv.com, county commissioners appointed Assistant
County Manager Mark Foster to the Center's Board of Directors to
help navigate its financial issues.  The Center, says Wsoctv.com,
is required to provide the county financial statements and
invoices of how it spent county money, a reorganization plan, and
a partnership with another nonprofit for financial support.

Wsoctv.com relates that county officials refused to give the
Center $390,000 in taxpayer money it had been getting for years
unless it changed its operational ways.  Wsoctv.com quoted
Mecklenburg County Manager Dena Diorio as saying, "They wanted to
do what they could to try to assist, but there had to be some
indication that C.W. Williams wanted to help themselves."

                        About C.W. Williams

Charlotte, North Carolina-based C.W. Williams Community Health
Center, Inc., has provided medical care in Charlotte for more than
30 years.  It primarily serves low-income patients.  It receives
funding from the federal government and other sources.

C.W. Williams filed for Chapter 11 bankruptcy protection (Bankr.
W.D.N.C. Case No. 14-32010) on Nov. 26, 2014, estimating its
liabilities at between $1 million and $10 million and its assets
at up to $50,000.  The petition was signed by Leon L. Burton, CEO.


CAESARS ENTERTAINMENT: Signs Waiver Agreement With UMB Bank
-----------------------------------------------------------
Caesars Entertainment Operating Company, Inc., and Caesars
Entertainment Corporation, on Dec. 2, 2014, executed a Second
Amended and Restated Waiver Agreement dated and effective as of
Aug. 12, 2014, for the benefit of UMB Bank, National Association,
according to a regulatory filing with the U.S. Securities and
Exchange Commission.  UMB Bank is the trustee, under the
indentures governing the Senior Secured Notes, and the registered
and beneficial holders from time to time of CEOC's 11.25% senior
secured notes due 2017, 8.5% senior secured notes due 2020 and 9%
senior secured notes due 2020.

Pursuant to the Agreement, if the Trustee or Holders provide a
notice of default in respect of Specified Defaults under any or
all of the Indentures at any time on or after the Effective Date,
that notice of default will be deemed to have been given as of the
Effective Date of the Agreement for any and all purposes; provided
that each Specified Default alleged in that Notice of Default
under Section 6.01(c) or (j) of any or all of the Indentures will
become an "Event of Default" under those Indentures if CEOC does
not cure such Specified Default within three calendar days.
Subject to written extension by CEOC and CEC, any notice of
default that is provided after April 9, 2015, will not have the
benefit of the Agreement.  Notwithstanding the Agreement, CEOC
reserved all rights to challenge whether or not any Specified
Defaults constitute actual defaults under the applicable
Indentures.

                    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 $24.5 billion in
total assets, $28.20 billion in total liabilities and a
$3.71 billion total deficit.

                           *     *     *

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'.

In May 2014, Moody's Investors Service affirmed the Caa3 corporate
family rating and Caa3-PD probability of default ratings.  The
negative rating outlook reflects Moody's view that CEOC will
pursue a debt restructuring in the next year. Ratings could be
lowered if CEOC does not take steps to address it unsustainable
capital structure. Ratings improvement is not expected unless
there is a significant reduction in CEOC's $18 billion debt load.


CAPELLA HEALTHCARE: Moody's Rates New $100MM Sr. Secured Loan B2
----------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Capella
Healthcare, Inc.'s proposed $100 million senior secured term loan.
Concurrently, Moody's affirmed the company's B2 Corporate Family
Rating, B2-PD Probability of Default Rating, and B3 rating on the
company's $500 million 9.25% senior unsecured notes. The ratings
outlook is stable.

Proceeds from the proposed $100 term loan will be used to fund the
proposed acquisition of Carolina Pines Regional Medical Center and
its related outpatient services for $75 million from Community
Health Systems, Inc., repay $21 million of borrowings on the
company's asset based revolving credit facility, and pay related
fees and expenses. The company's ABL revolver was drawn in July
2014 to purchase the company's Muskogee Community Hospital ("MCH")
capital lease.

The following rating actions were taken (all ratings are subject
to the execution of the transaction as currently proposed and
Moody's review of final documentation):

  $100 million senior secured term loan due 2021, assigned Ba2
  (LGD2);

  Corporate family rating, affirmed at B2;

  Probability of default rating, affirmed at B2-PD.

  $500 million 9.25% senior unsecured notes due 2017, affirmed at
  B3 (LGD4).

  Outlook, stable.

Ratings Rationale

The B2 Corporate Family Rating considers Capella's high leverage,
limited scale, and geographic concentration. The rating also
considers Capella's reliance on a relatively small number of
facilities to generate a majority of the company's EBITDA.
Sizeable reimbursement exposure to government payors such as
Medicare and Medicaid as well as high levels of uncompensated care
from uninsured and under-insured patients further constrains the
rating. The rating is supported by anticipated improvement in
credit metrics from Capella's focus on internal efficiencies such
as streamlining hospital workflow and purchasing as well as the
anticipated expansion of healthcare insurance coverage as part of
the Affordable Care Act. Additionally, the B2 rating is supported
by Capella's emphasis on quality of care and the implementation of
electronic health records that are expected to maximize
reimbursement levels. Further, the rating benefits from a good
liquidity profile and the company's management of non-urban
hospitals that generally operate in a less competitive environment
when compared to their urban peers.

The stable outlook reflects Moody's expectation that the company
will take a disciplined approach toward acquisitions and will work
to reduce leverage by further improving revenue and EBITDA at
existing facilities. The stable outlook also assumes the company
will maintain a good liquidity profile, including sufficient
borrowing base availability under the $100 million asset based
revolver.

The ratings could be downgraded if Capella experienced a material
operating disruption at one of its larger facilities or if general
economic conditions were to impact volumes, payor mix, or bad debt
expense more than expected. Specifically, if the company's Moody's
adjusted operating cash flow to debt was expected to be sustained
below 5%, adjusted free cash flow to debt was expected to be
negative, or if leverage (adjusted debt to EBITDA, including the
capitalization of operating leases) is sustained over 6.5 times,
there could be downward rating pressure. The ratings could also be
downgraded if the company were to pursue significant debt funded
acquisitions or if its liquidity profile were to deteriorate. A
less stable reimbursement and pricing environment with respect to
Medicare and private payers could also pressure the ratings.

Although unlikely in the near term, the ratings could be upgraded
if Capella is able to improve the operations of its facilities
such that adjusted debt leverage was expected to be sustained
below 4.0 times and adjusted free cash flow to debt was expected
to be sustained above 8%. Additionally, if the company pursues a
disciplined acquisition strategy such that it is able to improve
its scale and diversity profile with a reduction in debt leverage
and without operational disruption there could be upward pressure
on the ratings.

The principal methodology used in these ratings was Global
Healthcare Service 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.

Headquartered in Franklin, Tennessee, Capella Healthcare, Inc. is
an owner and operator of non-urban hospitals. Capella operates 11
acute care hospitals comprised of 1,496 beds in six states and
generated revenue of approximately $747 million for the last
twelve month period ended September 30, 2014. Capella is majority
owned by GTCR Golder Rauner, LLC.


CAROLINE WYLY: SEC Pursuit Is Ch. 11 Issue, Judge Scheindlin Says
-----------------------------------------------------------------
Law360 reported that U.S. District Judge Shira Scheindlin dealt
the U.S. Securities and Exchange Commission a blow in its attempt
to collect on a $261 million offshore-trading judgment, saying
only a bankruptcy court can decide whether the assets of Caroline
Wyly, Texas tycoon Charles Wyly's widow, are within the reach of
the SEC.

According to the report, despite a freeze that Judge Scheindlin
placed on the assets of the Wylys and their family in early
November, the judge says the bankruptcy court's authority takes
precedence now in the decision as to whether Caroline Wyly can in
fact be named as a relief defendant in the SEC suit.

Caroline Wyly's bankruptcy is In re Caroline D. Wyly, 14-35074, in
U.S. Bankruptcy Court, Northern District Texas (Dallas).


CD STORES: Lisa Price Assures She Will Remain in Control
--------------------------------------------------------
Lisa Price has assured that she will remain in complete control of
Carol's Daughter, despite the Company's sale to L'Oreal USA,
Brande Victorian at Madame Noire reports.

As reported by the Troubled Company Reporter on Oct. 22, 2014,
Tonya Garcia at Madame Noire reported that the sale is subject to
the final regulatory approvals, and other financial details are
undisclosed.

According to Madame Noire, Ms. Price and her investors exhausted
all possibilities before closing up shops.

Madame Noire relates that many had mixed reactions to her sale of
the hair care line to L'Oreal following her filing for bankruptcy.
The major deal, says Madame Noire, will likely increase the
success of the Company and its founder.

                         About CD Stores

Entities affiliated with beauty products company Carol's Daughter
filed for Chapter 11 bankruptcy protection April 24, 2014 (Bankr.
S.D.N.Y. Lead Case No. 14-11192) in Manhattan.  The filing
entities are CD Stores LLC and its retail affiliates: CD Store
125th, LLC; CD Store Atlantic Terminal, LLC; CD Store Roosevelt
Field, LLC; CD Store Pentagon City LLC; CD Store Newport Centre,
LLC; CD Store Fox Hills, LLC; and CD Store Lenox Square, LLC.

The Debtors' primary business is the marketing and sales of
natural hair, body, and skincare beauty products under the name
"Carol's Daughter," from retail stores located in New York, New
Jersey, Georgia, Virginia, and California.  Carol's Daughter has
been known for its natural beauty products for more than 20 years.

Debtor CD Stores does not operate a retail location, and has no
employees, but it is the sole member of the Retail Debtors, and
guarantor with respect to certain lease agreements for Debtor
125th, Debtor Roosevelt Field, Debtor Lenox, Debtor Newport,
Debtor Fox, and Debtor Pentagon.

Debtor CD Stores is wholly owned by Carol's Daughter Holdings,
LLC, a New York limited liability company.  CD Holdings is the
sole member of Debtor CD Stores, and Carol's Daughter Products,
LLC, a Delaware limited liability company.

Neither CD Holdings nor CD Products have sought bankruptcy
protection.  CD Holdings and CD Products focus on the marketing
and sales of Carol's Daughter beauty products direct to consumers,
through CarolsDaughter.com, a website owned and operated by
Carol's Daughter Online, LLC1, as well as to wholesale vendors.
The Debtors are not involved in the online marketing and sales of
Carol's Daughter beauty products.

CD Stores estimated assets and debts each in the $1 million to $10
million range.  As of April 20, 2014, the Debtors, on an unaudited
basis, had total assets with a book value of $280,435 and total
liabilities of roughly $7,050,016.

Judge Shelley C. Chapman presides over the cases.  Gerard R.
Luckman, Esq., and Adam L. Rosen, Esq., at Silverman Acampora LLP,
serve as the Debtors' counsel.

The petitions were signed by John D. Elmer, chief financial
officer, chief operating officer.

                               * * *

As reported by the Troubled Company Reporter on Sept. 16, 2014,
Bloomberg News bankruptcy columnist Bill Rochelle reported that
U.S. Bankruptcy Judge Shelley C. Chapman, on Sept. 2, 2014, signed
an order confirming the reorganization plan for CD Stores.


CLAIRE'S STORES: Incurs $26.8 Million Net Loss in Third Quarter
---------------------------------------------------------------
Claire's Stores, Inc., reported a net loss of $26.8 million on
$351 million of net sales for the three months ended Nov. 1, 2014,
compared to a net loss of $25.5 million on $357 million of net
sales for the three months ended Nov. 2, 2013.

For the nine months ended Nov. 1, 2014, the Company reported a net
loss of $85.5 million on $1.08 billion of net sales compared to a
net loss of $72.7 million on $1.07 billion of net sales for the
nine months ended Nov. 2, 2013.

As of Nov. 1, 2014, the Company had $2.66 billion in total assets,
$2.84 billion in total liabilities, and a $183 million
stockholders' deficit.

As of Nov. 1, 2014, cash and cash equivalents were $30.2 million,
including restricted cash of $2.3 million.

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

                        http://is.gd/DzO91Q

A full-text copy of the Form 10-Q filed with the U.S. Securities
and Exchange Commission is available for free at:

                         http://is.gd/cqH3JP

                       About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores also operates through its subsidiary,
Claire's Nippon, Co., Ltd., 213 stores in Japan as a 50:50 joint
venture with AEON, Co., Ltd.  The Company also franchises 198
stores in the Middle East, Turkey, Russia, South Africa, Poland
and Guatemala.

Claire's Stores reported a net loss of $65.30 million for the
fiscal year ended Feb. 1, 2014, following net income of $1.28
million for the fiscal year ended Feb. 2, 2013.

                        Bankruptcy Warning

"If we are unable to generate sufficient cash flow and are
otherwise unable to obtain funds necessary to meet required
payments of principal, premium, if any, and interest on our
indebtedness, or if we otherwise fail to comply with the various
covenants, including financial and operating covenants in the
instruments governing our indebtedness, we could be in default
under the terms of the agreements governing such indebtedness.  In
the event of such default,

   * the holders of such indebtedness may be able to cause all of
     our available cash flow to be used to pay such indebtedness
     and, in any event, could elect to declare all the funds
     borrowed thereunder to be due and payable, together with
     accrued and unpaid interest;

   * the lenders under our Credit Facility could elect to
     terminate their commitments thereunder, cease making further
     loans and institute foreclosure proceedings against our
     assets; and

   * we could be forced into bankruptcy or liquidation," the
     Company stated in its annual report for the fiscal year ended
     Feb. 1, 2014.

                           *     *     *

As reported by the TCR on Oct. 1, 2012, Moody's Investors Service
upgraded Claire's Stores, Inc.'s Corporate Family and Probability
of Default ratings to Caa1 from Caa2.  The upgrade of Claire's
Corporate Family Rating to Caa1 reflects its ability to address
its substantial term loan maturity in 2014 by refinancing it with
a $625 million add-on to its existing senior secured first lien
notes due 2019.

Claire's Stores, Inc., carries a 'B-' corporate credit rating from
Standard & Poor's Ratings Services.


CLINE MINING: Chapter 15 Case Summary
-------------------------------------
Chapter 15 Petitioner: FTI Consulting Canada Inc.

Debtor-entities subject to Chapter 15 Petitions:

   Chapter 15 Debtors                       Case No.
   ------------------                       --------
   Cline Mining Corporation                 14-26132
   27th Floor, TD Canada Trust Tower
   161 Bay Street
   Toronto, Ontario M5J 2S1

   New Elk Coal Company LLC                 14-26133

   North Central Energy Company             14-26134

Type of Business: The Debtors, together with Raton Basin
                  Analytical LLC, a Colorado limited liability
                  company of which New Elk is the sole member
                 ("Cline Group") are in the business of locating,
                  exploring and developing mineral resource
                  properties, with a focus on gold and
                  metallurgical coal.

Chapter 15 Petition Date: December 3, 2014

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Elizabeth E. Brown

Chapter 15 Petitioner's    Ken Coleman, Esq.
Counsel:                   Jonathan Cho, Esq.

                           ALLEN & OVERY LLP
                           1221 Avenue of the Americas
                           New York, New York 10020
                           Tel.: (212) 610-6300
                           Fax.: (212) 610-6399
                           ken.coleman@allenovery.com
                           jonathan.cho@allenovery.com

Cline Group's Total Assets: $137.7 million as of Aug. 31, 2014

Cline Group's Total Debts: $87 million as of Aug. 31, 2014


COMMUNITY HOME: Dec. 9 Hearing on Wells Fargo's Stay Relief Bid
---------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Dec. 9, 2014, at
1:30 p.m., to consider creditor Wells Fargo Bank, N.A.'s motion
for relief from stay in the Chapter 11 case of Community Home
Financial Services Inc.

As reported in the Troubled Company Reporter on Nov. 27, 2014, the
property located in Cleveland, Ohio, is covered by a deed of trust
securing a promissory noted executed by a certain Vincent Flores,
Jr.  In May last year, Wells Fargo was assigned the beneficial
interest in the deed of trust.  Meanwhile, Community Home is a
junior lien holder on the property, court filings show.

Charles Frank Fair Barbour, Esq., at Bennett Lotterhos Sulser &
Wilson, P.A., in Jackson, Mississippi, said Wells Fargo "is not
adequately protected" and that the stay should be lifted so that
the bank can finally pursue a foreclosure sale of the property.

                      About Community Home

Community Home Financial Services, Inc., filed a Chapter 11
petition (Bankr. S.D. Miss. Case No. 12-01703) on May 23, 2012.
Community Home Financial is a specialty finance company located in
Jackson, Mississippi, providing contractors with financing for
their customers.  CHFS operates from one central location
providing financing through its dealer network throughout 25
states, Alabama, Delaware, and Tennessee.  The Debtor scheduled
$44,890,581 in total assets and $30,270,271 in total liabilities.
Judge Edward Ellington presides over the case.

The Debtor was first represented by Roy H. Liddell, Esq., and
Jonathan Bissette, Esq., at Wells, Marble, & Hurst, PPLC as
Chapter 11 counsel.  Wells Marble was terminated Nov. 13, 2013.
The Debtor is now being represented by Derek A. Henderson, Esq.,
in Jackson, Miss.  In 2013, the Debtor sought to employ David
Mullin, Esq., at Mullin Hoard & Brown LLP, as special counsel.

On Jan. 9, 2014, Kristina M. Johnson was appointed as Chapter 11
Trustee for the Debtor.  Jones Walker LLP serves as counsel to the
Chapter 11 trustee, while Stephen Smith, C.P.A., acts as
accountant.

                         *     *     *

On Aug. 8, 2013, the Court approved the Disclosure Statement
explaining the Debtor's Plan of Reorganization dated Jan. 29,
2013.  In the first quarter of 2014, the Court entered an order
holding in abeyance the (i) confirmation of the Debtor's Chapter
11 Plan; and (ii) the objection and amended objection to the
confirmation of Plan pending further Court order.


CONNEAUT LAKE PARK: Files for Ch 11 to Dodge Sherriff's Sale
------------------------------------------------------------
Bill Vidonic at Triblive.com reports that the Board of Trustees of
Conneaut Lake Park filed for bankruptcy protection on Thursday in
the U.S. Bankruptcy Court for the Western District of
Pennsylvania, less than 20 hours before the Crawford County
amusement park was scheduled to go to sheriff's sale for almost
$930,000 in back taxes and related fees.

Triblive.com recalls that Crawford County President Judge Anthony
Vardaro rejected on Wednesday the state attorney general's attempt
to halt the sheriff's sale.  The report says that the attorney
general had argued that the park should not have been taxed and
that if it were sold at sheriff's sale, the buyer would have to
continue the park's charitable purposes, because the park is
overseen by a tax-exempt entity.

"If this debtor can't come up with feasible plan of
reorganization, this asset might have to go up for sale,"
Triblive.com quoted said Paul Cordaro, a Downtown attorney not
involved in the bankruptcy proceedings, as saying.

A schedule set by U.S. District Judge Thomas P. Agresti indicates
April 3, 2015, as the deadline for the Debtor to file a
reorganization plan.

Court documents show that the largest unsecured debts are: (i) the
almost $51,000 owed to Starn Marketing Group, and (ii) the $43,500
owed to National City/PNC Bank.  More than 130 creditors --
including taxing bodies in Crawford County, Sadsbury and Summit
townships and the Conneaut School District -- but the amounts owed
are not disclosed.

Conneaut Lake Park is a summer amusement resort, located in
Conneaut Lake, Pennsylvania.


CONYERS 138: Section 341(a) Meeting Scheduled for Jan. 8
-------------------------------------------------------
A meeting of creditors in the bankruptcy case of Conyers 138, LLC,
will be held on Jan. 8, 2015, at 11:00 a.m. in Hearing Room 367,
Atlanta.

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.

Conyers 138, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
N.D. Ga. Case No. 14-73659) in Atlanta, Georgia, on Dec. 1, 2014,
without stating a reason.

The Debtor, a Single Asset Real Estate as defined 11 U.S.C. Sec.
101(51B), estimated $10 million to $50 million in total assets and
debt of $500,000 to $1 million.

The Law Offices of Evan M. Altman, Esq., in Atlanta, serves as
the Debtor's counsel.


COUNTRY STONE: Panel Seeks to Tap McDonald Hopkins as Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors in the case of
Country Stone Holdings, Inc. et al., seeks permission from the
U.S. Bankruptcy for the Central District of Illinois to retain
McDonald Hopkins LLC as its counsel.

As counsel, McDonald Hopkins is expected to:

   a) Advise the Committee with respect to its rights, duties, and
      powers in the Debtors' Chapter 11 Cases;

   b) Assist and advise the Committee in its consultations with
      the Debtors relative to the administration of the Chapter 11
      Cases; and

   c) Assist the Committee in analyzing the claims of the Debtors'
      creditors and the Debtors' capital structure and in
      negotiating with holders of claims and equity interests.

The firm's standard rates are:

    Billing Category              Range
    ----------------              -----
      Members                  $350 to $715
      Of Counsel               $295 to $690
      Associates               $210 to $400
      Paralegals               $145 to $275
      Law Clerks                $40 to $155

David A. Agay, a member of McDonald Hopkins, assures the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

                     About Country Stone

Country Stone Holdings, Inc., and its affiliates are in the
business of manufacturing, processing, and packaging lawn and
garden products such as mulch, soil, fertilizer, plant food,
organics, concrete and decorative stone.  The corporate
headquarters are located in Rock Island, Illinois and Milan,
Illinois.  Country Stone operates 17 plants throughout the United
States, including in Illinois, Iowa, Indiana, Minnesota,
Wisconsin, Missouri, and California.

Country Stone Holdings and its affiliates sought bankruptcy
protection (Bankr. C.D. Ill., Lead Case No. 14-81854) in Peoria,
Illinois, on Oct. 23, 2014, with a deal to sell to Quikrete
Holdings, Inc., for $23 million in cash plus the assumption of
liabilities, subject to higher and better offers.  The bankruptcy
cases are assigned to Judge Thomas L. Perkins.

Country Stone listed $0 in assets and $45 million in liabilities.

The Debtors have tapped Katten Muchin Rosenman LLP as counsel;
Silverman Consulting to provide the services of Steven Nerger as
CRO and Michael Compton as cash and restructuring manager; and
Epiq Bankruptcy Solutions, LLC as claims, noticing and balloting
agent.

Nancy J. Gargula, U.S. Trustee for the Central District of
Illinois, has appointed five creditors to serve in the official
unsecured creditors committee in the Debtors' cases.

                            *   *   *

The Debtors are currently proceeding with a Dec. 17, 2014 auction
for the sale of their assets, with Quikrete Holdings, Inc.,
serving as stalking horse bidder in the transaction.

The Debtors are liquidating their assets for the benefit of their
pre-bankruptcy secured lender First Midwest Bank.


CYRIL GRAY: Missing Hearing No Grounds for Punitive Damages
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the U.S. Bankruptcy Appellate Panel for the
Eighth Circuit in St. Louis ruled that failing to appear at a
hearing for violating the automatic stay isn't evidence of
"egregious, intentional misconduct" justifying an award of
punitive damages.

According to the report, under the governing case from the U.S.
Court of Appeals for the Eighth Circuit, punitive damages are
permitted only for egregious, intentional misconduct by the party
disobeying the stay.  As grounds for punitive damages, the
bankruptcy judge relied only on the failure to appear in court,
the report related.

Writing for the panel, U.S. Bankruptcy Judge Robert J. Kressel of
Minneapolis said that a failure to appear by itself doesn't
satisfy the test of "egregiousness," the report further related.

The case is Bugg v. Gray (In re Gray), 14-6027, U.S. Bankruptcy
Appellate Panel for the Eighth Circuit (St. Louis).


DEB STORES: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

        Debtor                                  Case No.
        ------                                  --------
        Deb Stores Holding LLC                  14-12676
        9401 Blue Grass Road
        Philadelphia, PA 19114

        Deb Stores Holding II LLC               14-12677

        Deb Shops SPD Inc.                      14-12678

        Deb Shops SDIH Inc.                     14-12679

        Deb Shops SD Inc.                       14-12680

        Deb Shops SDE LLC                       14-12681

        Deb Shops SDW LLC                       14-12682

        Deb Shops SDE-Commerce LLC              14-12683

        Deb Shops SDFMC LLC                     14-12684

Type of Business: A Small-based retailer in the juniors "fast-
                  fashion" specialty sector that operates under
                  the name "DEB" and offers moderately priced,
                  fashionable, coordinated women's sportswear,
                  dresses, coats, lingerie, accessories and shoes
                  for junior and plus sizes.

Chapter 11 Petition Date: December 4, 2014

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Mary F. Walrath

Debtors' Counsel: Laura Davis Jones, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  919 N. Market Street, 17th Floor
                  Wilmington, DE 19801
                  Tel: 302 652-4100
                  Fax: 302-652-4400
                  Email: ljones@pszjlaw.com

                     - and -

                  Peter J. Keane, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  919 North Market Street, 17th Floor
                  Wilmington, DE 19801
                  Tel: 302-652-4100
                  Fax: 302-652-4400
                  Email: pkeane@pszjlaw.com

                     - and -

                  Colin R. Robinson, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  919 North Market Street, 17th Floor
                  Wilmington, DE 19801
                  Tel: 302-778-6426
                  Fax: 302-562-4400
                  Email: crobinson@pszjlaw.com

                     - and -

                  Joshua M. Fried, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  150 California Street, 15th Floor
                  San Francisco, CA 94111
                  Tel: (415) 263-7000
                  Fax: (415) 263-7010

Debtors' Claims   EPIQ BANKRUPTCY SOLUTIONS, LLC
and Noticing
Agent:

Total Assets: $90.5 million as of Dec. 31, 2013

Total Debts: $120.1 million as of Dec. 31, 2013

The petitions were signed by Dawn Robertson, chief executive
officer.

Consolidated List of Debtor's 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Wells Fargo Trade Capital Serv.      Trade Debt       $1,141,346
Inc.
99 Park Ave.
New York, NY 10016
Contact: Rocco Surace
Tel: 212 703 3970
Email: Rocco.j.Surace@wellsfargo.com

UPS                                  Trade Debt         $539,577
PO Box 7247-0244
Philadelphia, PA 19170-0001
Contact: Ed Firth, mlke Moore
Tel: (800) 811-1648
Email: efirth@ups.com
       vbernhardt@ups.com

Finesse Apparel, Inc.                Trade Debt         $503,356
1025 South Standford Avenue
Los Angeles, CA 90021
Contact: Jung Hahn
Tel: (213) 474-7077 Ext. 156
Email: jung@finesseusa.com

Fashion Wildcat                      Trade Debt         $339,719
777 12th Street
Los Angeles, CA 90021
Contact: Bobby Seo
Email: seobby@yahoo.com

Blue Mountain Apparel LA, LLC       Trade Debt          $332,678
201 West 39th Street
New York, NY 10018
Contact: Dennis Slapo
Tel: 213-286-6718
Email: dslapo@gmail.com

United Healthcare Ins. Co.           Insurance          $281,925
99 Park Ave
New York, NY 10016
Contact: Scott Jencius
Email: scott_jenciius@uhc.com

Legend Footwear, Inc.                Trade Debt         $258,026
19445 E. Walnut Dr. N.
City  of Industry, CA 91789
Contact: Jack Tsai
Tel: 626-934-7168
Email: Jack@legendfootwear.com

Pacific Logistics Corp               Trade Debt         $248,597

Google, Inc.                         Trade Debt         $242,371

Springland International             Trade Debt         $201,179

MOAC Mall Holdings LLC               Rent               $156,259

UC Factors                           Trade Debt         $142,379

Emcon Associates, Inc.               Trade Debt         $141,953

Enticing Lingerie, Inc.              Trade Debt         $132,548

Brant Instore Corporation            Trade Debt         $131,281

JA Cosmetics                         Trade Debt         $116,408

Heart and Hips                       Trade Debt         $113,559

Ambiance Apparel                     Trade Debt         $108,937

Blue Grass RD Partnership            Rent               $105,000

Miken Clothing                       Trade Debt          $88,355

Panties Plus, Inc.                   Trade Debt          $88,171

DS Clothing                          Trade Debt          $84,970

Demandware, Inc.                     Trade Debt          $84,967

Mall at Lehigh Valley, L.P.          Rent                $84,143

Ultimate Software Group              Trade Debt          $82,397

Regent-Sutton                        Trade Debt          $80,358

Avalara Inc.                         Trade Debt          $77,106

One World Distribution, Inc.         Trade Debt          $66,638

Rimm-Kaufman Group                   Trade Debt          $61,635

Salmon Run Shopping Center LLC       Rent                $60,164


DELIA*S INC: To Liquidate Merchandise, Expects to File Chapter 11
-----------------------------------------------------------------
dELiA*s, Inc., an omni-channel retail company primarily marketing
to teenage girls, on Dec. 5 that it entered into an agency
agreement with Hilco Merchant Resources, LLC and Gordon Brothers
Retail Partners, LLC, dated December 4, 2014, to, among other
things, liquidate all merchandise owned by the Company and to
dispose of certain furnishings, trade fixtures, equipment and
improvements to real property with respect to the Company's
stores.  Sales of merchandise under the agreement may begin as
early as December 5, 2014.

The Company anticipates that it will file for Chapter 11
bankruptcy protection in the very near term and will seek, among
other things, the bankruptcy court's approval to close all
existing stores and distribution centers and to conduct store
closing and going out of business sales.  The Company determined
to take this action after being unable to find a merger partner,
or obtain an acquisition or financing proposal enabling the
Company to remain a going-concern.  The Company will provide more
details in the near term about the plans for the Company's
bankruptcy proceedings, the liquidation of the stores and other
assets, the status of the Company's operations during bankruptcy,
and the terms of the agency agreement.

The Company does not anticipate any value will remain from the
bankruptcy estate for the holders of the Company's common and
preferred equity, although this will be determined in the
anticipated bankruptcy proceedings.

                       About dELiA*s, Inc.

dELiA*s, Inc. is an omni-channel retail company primarily
marketing to teenage girls. It generates revenue by selling
apparel, accessories and footwear to consumers through its
website, direct mail catalogs and mall-based retail stores.


DETROIT, MI: Legal Fees for Pension Funds to be Reviewed
--------------------------------------------------------
Chad Livengood, writing for Detroit News Lansing Bureau, reported
that the attorneys and financial consultants who represented
Detroit's two pension funds during the city's bankruptcy will have
their fees subjected to the same scrutiny as other highly paid
professionals.

According to the report, U.S. Bankruptcy Judge Steven Rhodes ruled
that the Police and Fire Retirement System and General Retirement
System should be subjected to the court's review of costs
associated with litigating the largest bankruptcy in U.S. history,
although he acknowledged that there's no legal precedent for
having a creditor's legal fees subject to court review in a
Chapter 9 municipal bankruptcy.

An attorney for Greenhill & Co. disclosed that the financial firm
has billed the two retirement systems $3.55 million for its
services, 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: Kevyn Orr to Resign as Emergency Manager
-----------------------------------------------------
Law360 reported that Kevyn Orr, the former Jones Day partner
tapped to oversee Detroit's restructuring as it struggled with $18
billion in debt, said he would resign as emergency manager within
two weeks, once the city finalizes its court-approved bankruptcy
plan.

According to the report, Mr. Orr has already ceded control of the
city back to Mayor Mike Duggan and the city council, but is still
ushering the city though the last stages of its bankruptcy, the
largest municipal insolvency in U.S. history.  Mr. Orr said during
a speech to Oakland business leaders that he would step down once
the final plan agreements were signed and executed, the Law360
report said, citing the Detroit Free Press.

                   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.


ECOSPHERE TECHNOLOGIES: Sells $500,000 Convertible Notes
--------------------------------------------------------
Ecosphere Technologies, Inc., sold $500,000 of convertible notes
to three accredited investors (two of which are affiliated) in a
private placement offering, according to a regulatory filing with
the U.S. Securities and Exchange Commission.

The Notes: (i) are convertible at $0.12 per share, (ii) mature on
Dec. 18, 2015, and (iii) pay 10% interest per annum on the earlier
of (x) the maturity date or (y) conversion.  Additionally, the
Company issued the investors a total of 8,333,333 five-year
warrants exercisable at $0.12 per share.  The Notes are secured by
a security interest in 10%, or 18,000,000, of the Company's shares
of common stock of Ecos GrowCube, Inc., a Florida corporation.

In addition, on Nov. 28, 2014, in consideration of the new
$500,000 investment the Company amended the terms of $1,500,000 of
convertible notes and 9,999,960 warrants purchased by four
accredited investors (three of which are affiliated) in the
Company's December 2013 private placement offering.  The Amended
Notes and Amended Warrants have identical terms to the Notes and
Warrants.  The Amended Notes were previously convertible at $0.30
per share and the Amended Warrants were previously exercisable at
$0.35 per share.  The holders of the Notes and the Amended Notes
are controlled by the same two persons.

The Notes, Warrants, Amended Notes, and Amended Warrants have not
been registered under the Securities Act of 1933 and were issued
and sold in reliance upon the exemption from registration
contained in Section 4(a)(2) of the Act and Rule 506(b)
promulgated thereunder.

                   About Ecosphere Technologies

Stuart, Florida-based Ecosphere Technologies (OTC BB: ESPH) --
http://www.ecospheretech.com/-- is a water engineering,
technology licensing and environmental services company that
designs, develops and manufactures wastewater treatment solutions
for industrial markets.  Ecosphere, through its majority-owned
subsidiary Ecosphere Energy Services, LLC, provides energy
exploration companies with an onsite, chemical free method to kill
bacteria and reduce scaling during fracturing and flowback
operations.

Ecosphere Technologies reported net income of $19.16 million in
2013 following net income of $1.05 million in 2012.

As of Sept. 30, 2014, the Company had $16.79 million in total
assets, $3.59 million in total liabilities, $3.78 million in total
redeemable convertible cumulative preferred stock, and $9.41
million in total equity.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company had a loss from operations and cash used in
operations along with an accumulated deficit.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


ECOSPHERE TECHNOLOGIES: To Issue Add'l 3MM Shares Under Plan
------------------------------------------------------------
Ecosphere Technologies, Inc., amended its Amended and Restated
2006 Equity Incentive Plan to increase the number of shares of
common stock available for issuance under the plan by 3,000,000
shares, according to a regulatory filing with the U.S. Securities
and Exchange Commission.

In addition, on Nov. 26, 2014, the Board of Directors approved,
and on Dec. 1, 2014, the Company entered into, employment renewal
agreements with two of the Company's executive officers: Michael
R. Donn, Sr., who has worked for the Company for 14 years and
serves as the Company's chief operating officer and as a director,
and Jacqueline McGuire, who has worked for the Company for 16
years and serves as the Company's senior vice president of
administration and corporate secretary.

Each agreement is for a term of two years, beginning Dec. 1, 2014.
The agreement with Mr. Donn provides for: (i) an annual salary of
$192,500, (ii) 2,591,438 five-year stock options exercisable at
$0.17 per share, with 25% vesting immediately and the remainder
vesting semi-annually in four approximately equal increments over
a two-year period, subject to continued employment on each
applicable vesting date, and (iii) a discretionary performance-
based annual bonus with terms to be set by the Company's
Compensation Committee.  The agreement with Ms. McGuire provides
for: (i) an annual salary of $123,500, (ii) 1,867,746 five-year
stock options exercisable at $0.17 per share, with 25% vesting
immediately and the remainder vesting semi-annually in four
approximately equal increments over a two-year period, subject to
continued employment on each applicable vesting date, and (iii) a
discretionary performance-based annual bonus with terms to be set
by the Company's Compensation Committee.  In connection with their
employment agreements, Mr. Donn and Ms. McGuire also entered into
confidentiality and non-compete agreements with the Company.

                    About Ecosphere Technologies

Stuart, Florida-based Ecosphere Technologies (OTC BB: ESPH) --
http://www.ecospheretech.com/-- is a water engineering,
technology licensing and environmental services company that
designs, develops and manufactures wastewater treatment solutions
for industrial markets.  Ecosphere, through its majority-owned
subsidiary Ecosphere Energy Services, LLC, provides energy
exploration companies with an onsite, chemical free method to kill
bacteria and reduce scaling during fracturing and flowback
operations.

Ecosphere Technologies reported net income of $19.16 million in
2013 following net income of $1.05 million in 2012.

As of Sept. 30, 2014, the Company had $16.79 million in total
assets, $3.59 million in total liabilities, $3.78 million in total
redeemable convertible cumulative preferred stock, and $9.41
million in total equity.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company had a loss from operations and cash used in
operations along with an accumulated deficit.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


ELBIT IMAGING: Extraordinary General Meeting Set for Jan. 8
-----------------------------------------------------------
Elbit Imaging Ltd. has scheduled an extraordinary general
shareholders meeting to take place on Thursday, Jan. 8, 2015, at
11:00 a.m. (Israel time), at the offices of the Company, located
at 5 Kinneret Street, 32nd floor, Bnei Brak, Israel.  The record
date for the meeting is Dec. 9, 2014.

Proxy Statements and proxy cards for use by shareholders that
cannot attend the meeting in person will be sent by mail, on or
about Dec. 11, 2014, to the Company's shareholders that hold
shares registered with the American Stock Transfer & Trust
Company, including shares held via Depository Trust Company (DTC)
members other than the Tel Aviv Stock Exchange Clearinghouse.
Shareholders that hold those shares via the Tel Aviv Stock
Exchange Clearinghouse and shareholders registered on the
Company's Israeli shareholder register may access the proxy
statement and a form of Hebrew ballot via the following Web sites:
http://magna.isa.gov.iland http://maya.tase.co.il.

The agendum of the meeting is to re-elect Elina Frenkel Ronen as
one of the Company's external directors.

                       About Elbit Imaging

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

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

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

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

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

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

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


FREE LANCE-STAR: New Owners Must Sell Radio Stations in 12 Months
-----------------------------------------------------------------
Cathy Jett, writing for Fredericksburg.com, reports that the
Federal Communications Commission has given Sandton Capital
Partners, The Free Lance-Star's new owners, one year to sell its
four radio stations.

Fredericksburg.com quoted Sandton Capital principal Rob Orr as
saying, "While we are pleased to have the broadcast licenses fully
transferred to us, we must also acknowledge that the FCC ruling
requires a divestiture within 12 months."

Fredericksburg.com relates that Sandton Capital had petitioned the
FCC to receive the licenses for WFLS?FM and its sister stations,
and a waiver of its newspaper/broadcast cross-ownership
restriction (NBCO).  The report says that while the FCC assigned
the licenses to Sandton Capital, it denied the waiver request and
does not anticipate granting extensions.

               About The Free Lance-Star Publishing

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

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

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

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

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


GALVATEC INC: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Galvatec, Inc.
           aka Galvatec
           aka Steel Process of Laredo
        11619 Hartley Road
        Houston, TX 77093-1419

Case No.: 14-36727

Chapter 11 Petition Date: December 3, 2014

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Karen K. Brown

Debtor's Counsel: Margaret Maxwell McClure, Esq.
                  LAW OFFICE OF MARGARET M. MCCLURE
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: 713-659-1333
                  Fax: 713-658-0334
                  Email: margaret@mmmcclurelaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Manuel Angel Guajardo Cavazos,
president.

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


GASPARI NUTRITION: HEP Served as Investment Banker in Asset Sale
----------------------------------------------------------------
Heritage Equity Partners, an investment banking and M&A advisor to
distressed organizations and special situations, on Dec. 5
disclosed that it acted as the investment banker to Gaspari
Nutrition, Inc. in the recently approved sale of substantially all
of its assets to a subsidiary of Total Produce, Allegro Nutrition.
The sale was effectuated through a Chapter 11 Section 363 process
and was approved by the Bankruptcy Court in the District of New
Jersey on December 5, 2014 and is expected to close within ten
business days.

Heritage Equity Partners was retained in late July as Gaspari's
investment banker to explore a sale of substantially all of the
Company's assets.  HEP conducted a comprehensive marketing
process, which resulted in a wide range of potential buyers,
including multiple strategic and financial parties interested in
purchasing the Company as a going concern.  HEP gained agreement
from Gaspari's lender, Crestmark, to continue to finance
operations, and eventually, to provide Debtor In Possession
financing when the Company filed for protection under Chapter 11.

Allegro submitted a formal offer in October that was subjected to
higher and better offers at an auction on December 1st.  Three
other bidders participated in the auction and the price more than
doubled over the course of fifty bids from $5,000,000 to
$10,100,000.  HEP's extensive experience in identifying potential
buyers and running an expedited sales process, along with crisis
management provided by Chief Restructuring Officer, Marc Ross, and
guidance from bankruptcy lawyers Joshua Klein and Michael Viscount
of Fox Rothschild, enabled the Company to continue as a going
concern while preserving jobs for the majority of Gaspari's
employees, as well as maximizing recovery for Gaspari's creditors.

Headquartered in Lakewood, NJ, Gaspari has been a world leading
developer and distributor of sports nutrition supplements since
its founding in 1999 by International Federation of BodyBuilding
and Fitness Hall of Fame member, Rich Gaspari.  Rich has been
involved in the bodybuilding and fitness field for over 30 years.
He excelled as a top professional bodybuilder from the mid 80's
through the 90's, winning countless industry awards.

After retiring from professional bodybuilding, Rich began
developing his own line of supplements and building one of the
most respected brands in the world, reaching sales of over $85
million per year.  Gaspari continues to sell through brick and
mortar retailers such as The Vitamin Shoppe and through online
sites such as Amazon.com and http://www.bodybuilding.com/
The Company unfortunately recently suffered a combination of
reduced revenue and gross margin pressure, which resulted in
considerable liquidity constraints, and HEP was hired to assist in
mid-2014.

Headquartered in Dublin, Ireland, Allegro Nutrition is a
subsidiary of Allegro Group, a subsidiary of Total Produce.
Allegro is Ireland's leading sales, marketing and distribution
company, with over 70 years' experience, offering complete
selling, marketing and distribution services for market leading
brands in diversified categories such as food, health & beauty,
household and pharmacy.  Allegro recently purchased majority
ownership in the UK-based sports nutrition company, Body Temple.

Other professionals who worked on the transaction include:

Marc Ross, Chief Restructuring Officer to Gaspari Nutrition, Inc.;
Joshua Klein and Michael Viscount of Fox Rothschild LLP, legal
counsel to Gaspari Nutrition, Inc.; Tom Coughlin of Jaffe Raitt
Heuer & Weiss, P.C., legal counsel to the senior lender, Crestmark
Bank; Warren Usatine of Cole, Schotz, Meisel, Forman & Leonard,
P.A., legal counsel for the Creditor's Committee; Dan Carragher of
Day Pitney LLP, representing the buyer; and Ken Simon of Grant
Thornton provided financial advisory services to the Creditor's
Committee.

                  About Heritage Equity Partners

Based in Easton, MD, Heritage Equity Partners (HEP), formerly
"Equity Partners," -- http://www.EquityPartnersHG.com-- provides
boutique investment banking services for special situations.
Recognized as the nation's leader in maximizing value for
distressed businesses and properties, Heritage Equity Partners
uses a proven process that has provided solutions for over 450
clients throughout the United States since 1988, preserving more
than 40,000 jobs.  HEP is a wholly owned subsidiary of Heritage
Global Inc. (OTCQB: HGBL and CSE: HGP).

                      About Gaspari Nutrition

Gaspari Nutrition, Inc. filed a Chapter 11 petition (Bankr. D.N.J.
Case No. 14-30963) in Trenton, New Jersey on Oct. 16, 2014.
Joshua T. Klein, Esq. and Michael J. Viscount, Jr., Esq., at
serves as counsel to the Debtor.  The Debtor estimated up to $10
million in assets and up to $50 million in liabilities.


GBG RANCH: Can Hire Land Agent Services as Wind Energy Experts
--------------------------------------------------------------
GBG Ranch Ltd. sought and obtained approval from the Bankruptcy
Court to employ Charles Egner and Land Agent Services, LLC, as its
Wind Energy Experts to provide expert evaluation and, as
applicable, testimony in connection with the Motion to Reject
Corrected Wind Lease and Easement Agreement.

LAS has agreed to serve as expert witness to the Debtor on a
negotiated hourly rate of $150 for in office preparation, $350 per
hour for testimony (deposition and courtroom), and $150 for travel
time.  The in-office rate will be uniform for all persons
providing billable services to the Debtor.  LAS will not bill for
administrative services.  Only Mr. Egner will be providing
testimony.

The Debtor has also agreed reimburse LAS for all out-of-pocket
expenses incurred in connection with its services as expert
witness.  The expected expenses include, but are not limited to,
printing and reproduction, travel, delivery and courier services,
postage and other similar charges.

LAS and Mr. Egner require a $15,000 retainer.

Mr. Egner, president at LAS, assures the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.

                       About GBG Ranch, LTD

GBG Ranch, LTD, a Texas Limited Partnership, sought Chapter 11
protection (Bankr. S.D. Tex. Case No. 14-50155) in Laredo, Texas
on July 8, 2014, without stating a reason.  GBG Ranch disclosed
$59,952,589 in assets and $5,060,423 in liabilities as of the
Chapter 11 filing.

The company is represented by the Law Office of Carl M. Barto.
Leslie M. Luttrell and the Luttrell + Villareal Law Group serve as
special counsel.  John "Tooter" Robertson of Valbridge Property
Advisers/Dugger, Canaday, Grafe, Inc., serves as real estate
appraiser.

Ronald Hornberger, Esq. of Plunkett & Griensenbeck, Inc., has been
named Chapter 11 examiner in the Debtor's case.

                             *   *   *

Creditors of the Debtor currently have until Dec. 6, 2014, to file
their formal proofs of claim in the case.


GENERAL MOTORS: Finagled End to Interest on $1.5B Loan, JPM Says
----------------------------------------------------------------
Law360 reported that JPMorgan Chase & Co. told the Second Circuit
that it would never have intentionally relinquished its claim to
secured interest on a $1.5 billion loan to General Motors Corp.'s
bankruptcy predecessor, arguing that GM knew the bank accidentally
signed termination paperwork but went ahead and filed anyway.

According to the report, the bank said in a letter that it wasn't
aware the UCC-3 form it signed terminated its claim to the
interest because it thought the paperwork related to a different
loan with Old GM, which is why it didn't tell the automaker to not
file the forms.  But the automaker's creditors are twisting the
bank's silence to mean that it actually did grant Old GM approval
to file the forms, JPMorgan says, the report related.

                       About General Motors

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

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

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

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

                        *     *     *

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

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

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


GOPICNIC BRANDS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: GoPicnic Brands, Inc.
        4011 N Ravenswood Ave., Suite 112
        Chicago, IL 60613

Case No.: 14-43382

Chapter 11 Petition Date: December 3, 2014

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Jacqueline P. Cox

Debtor's Counsel: David R Doyle, Esq.
                  SHAW FISHMAN GLANTZ & TOWBIN LLC
                  321 N. Clark St., Ste. 800
                  Chicago, IL 60654
                  Tel: 312-541-0151
                  Email: ddoyle@shawfishman.com

                    - and -

                  Brian L Shaw, Esq.
                  SHAW FISHMAN GLANTZ & TOWBIN LLC
                  321 N Clark Street, Suite 800
                  Chicago, IL 60610
                  Tel: 312-541-0151
                  Fax: (312) 980-3888
                  Email: bshaw@shawfishman.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bret Lorenc, chief financial officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb14-43382.pdf


GREEN MOUNTAIN: Has Exclusive Plan Filing Deadline Moved to Dec. 5
------------------------------------------------------------------
Judge Barbara Ellis-Monro extended, on an interim basis, the
exclusive period of Green Mountain Management, LLC, to propose a
plan or plans of reorganization in its Chapter 11 case through and
including December 5, 2014.

A final hearing on the Debtor's Exclusive Period Extension Motion
has been rescheduled for Dec. 5, 2014 at 10:00 a.m. (prevailing
Eastern time) in Courtroom 1402 of the United States Bankruptcy
Court for the Northern District of Georgia, 75 Spring Street SW,
Atlanta, Georgia 30303.

Provided that UMB Bank, N.A., in its capacity as Indenture
Trustee, does not file an objection to the Extension prior to the
final hearing, the Court may further extend the Exclusive Period
of the Debtor to propose a plan or plans of reorganization in its
Chapter 11 case on a final basis through and including February
20, 2015, without further notice or hearing.

                        About Green Mountain

Green Mountain Management, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ga. Case No. 14-64287) on July 25, 2014.
The petition was signed by Daniel B. Cowart, sole member of
Georgia Flattop Partners, LLC, and chairman of Green Mountain
Management, LLC.  The case is assigned to Judge Barbara Ellis-
Monro.

The Debtor estimated $10 million to $50 million in assets and
debt.  Georgia Flattop Partners, LLC is the managing member and
holders of 93% of the stock.

The Debtor is represented by Sage M. Sigler, Esq., at Alston &
Bird, LLP, in Atlanta.

Daniel B. Cowart has retained as counsel Jimmy C. Luke II, of
MARTIN BAGWELL LUKE, P.C.

UMB Bank serves as Indenture Trustee.  It has retained as counsel
Kevin J. Walsh, Esq. and Colleen A. Murphy, Esq. of MINTZ, LEVIN,
COHN, FERRIS, GLOVSKY & POPEO, P.C.

In a Nov. 14, 2014 term sheet, the Debtor and UMB Bank agreed that
Lee Katz will replace Dan Coward as "GMM Manager" with full
decision making and operational authority over the Debtors.  The
agreement resolves UMB Bank's previous move for an appointment of
a Chapter 11 trustee in the Debtor's case.


GUIDED THERAPEUTICS: Prices $3.8 Million Public Offering
--------------------------------------------------------
Guided Therapeutics, Inc., announced the pricing of a public
offering and the entry into definitive agreements with purchasers
for the sale of approximately 16.8 million shares of its common
stock, and warrants to purchase shares of its common stock, for
gross proceeds to the Company (including non-cash extinguishment
of debt) of approximately $3.8 million.  The shares and warrants
are being offered at a combined price of $0.225 per share.  Each
warrant will be exercisable for five years to purchase one half of
a share of the Company's common stock at an exercise price of
$0.225 per share.

The Company expects to use the cash proceeds to continue to seek
FDA approval for LuViva, to repay certain bridge loans, and to
support general working capital and operations.  However, the
Company will retain broad discretion over the use of the net
proceeds and may use the money for other corporate purposes.

Olympus Securities, LLC, is the sole placement agent for the
offering, which is expected to close on or about Dec. 1, 2014,
subject to the satisfaction of customary closing conditions.

The shares and warrants are being offered by the Company pursuant
to a registration statement on Form S-1 previously filed and
declared effective by the SEC.  A final prospectus related to the
offering will be filed with the SEC.  The securities may be
offered only by means of a prospectus forming a part of the
effective registration statement.  Copies of the final prospectus
may be obtained at the SEC's Web site at www.sec.gov, or by mail
from Olympus Securities, LLC, 170 Changebridge Road, Suite B-1,
Montville, NJ 07045.

                    About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

Guided Therapeutics reported a net loss attributable to common
stockholders of $10.39 million on $820,000 of contract and grant
revenue for the year ended Dec. 31, 2013, as compared with a net
loss of $4.35 million on $3.33 million of contract and grant
revenue during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $3.72
million in total assets, $7.66 million in total liabilities and a
$3.94 million total stockholders' deficit.

UHY LLP, in Sterling Heights, Michigan, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company's recurring losses from operations and accumulated
deficit raise substantial doubt about its ability to continue as a
going concern.


HUB HOLDINGS: Moody's Affirms 'B3' CFR, Negative Outlook
--------------------------------------------------------
Moody's Investors Service has affirmed the B3 corporate family
rating of Hub Holdings, LLC (Hub Holdings, and together with its
subsidiaries, Hub) following the announcement that Hub
International Limited (Hub International) will issue an additional
$280 million of senior unsecured notes. Net proceeds from the
offering will be used for general corporate purposes, including to
fund future acquisitions and pay down revolving credit loans that
were drawn to fund prior acquisitions. The pending issuance
changes Hub's overall funding mix, resulting in a one-notch
upgrade of Hub International's senior unsecured notes to Caa1 from
Caa2. The group's other debt ratings have been affirmed, including
the B1 ratings on senior secured credit facilities of Hub
International and a Canadian affiliate, and the Caa2 rating on
senior unsecured notes of Hub Holdings (see list below). The
outlook for these ratings is negative.

Ratings Rationale

Hub's ratings reflect its solid market position in North American
insurance brokerage, good diversification across products and
geographic areas, and strong operating margins. These strengths
are tempered by the company's high financial leverage and limited
interest coverage. Moody's expects that Hub will continue to
pursue a combination of organic growth and acquisitions, the
latter giving rise to integration and contingent risks (e.g.,
exposure to errors and omissions), although Hub has a favorable
track record of absorbing small and mid-sized brokers.

The negative rating outlook reflects Moody's concern that Hub has
increased its appetite for financial leverage relative to rating
expectations at the time of its $4.5 billion leveraged buyout in
October 2013. The current ratings are predicated on Moody's
expectation that Hub will reduce its debt-to-EBITDA ratio below 8x
by the end of 2015. The ratings could be downgraded if leverage is
not reduced.

Moody's estimates that Hub's pro forma debt-to-EBITDA ratio,
giving effect to the proposed debt issuance and related
acquisitions, will be approximately 8.5x, with (EBITDA - capex)
interest coverage in the range of 1.5x-2.0x.

Factors that could lead to stable rating outlook include: (i)
debt-to-EBITDA ratio below 8x on a sustained basis, (ii) (EBITDA
-- capex) coverage of interest consistently exceeding 1.5x, and
(iii) free-cash-flow-to-debt ratio consistently exceeding 3%.

Factors that could lead to a rating downgrade include: (i) debt-
to-EBITDA ratio remaining above 8x, (ii) (EBITDA - capex) coverage
of interest below 1.2x, or (iii) free-cash-flow-to-debt ratio
below 2%.

Moody's has affirmed the following ratings (with affirmed/revised
loss given default (LGD) assessments):

Hub Holdings, LLC:

  Corporate family rating B3;

  Probability of default rating B3-PD;

  $380 million senior unsecured notes due July 2019 at Caa2
  (LGD6, 94%).

Hub International Limited:

  $225 million senior secured revolving credit facility maturing
  October 2018 at B1 (to LGD2, 25% from LGD2, 29%);

  $1.9 billion senior secured term loan maturing October 2020 at
  B1 (to LGD2, 25% from LGD2, 29%).

Hub International Canada West ULC:

  C$50 million senior secured revolving credit facility maturing
  October 2018, guaranteed by Hub International Limited, at B1
  (to LGD2, 25% from LGD2, 29%).

Moody's has upgraded the following rating (with revised LGD
assessment):

Hub International Limited:

  $1.2 billion senior unsecured notes (including pending
  issuance) due October 2021 to Caa1 from Caa2 (to LGD5, 77% from
  LGD5, 80%).

The principal methodology used in these ratings was Moody's Global
Rating Methodology for Insurance Brokers & Service Companies
published in Februaury 2012. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

Based in Chicago, Illinois, Hub is a major North American
insurance brokerage firm providing property and casualty, life and
health, employee benefits, investment and risk management products
and services through offices located in the US, Canada and Puerto
Rico. The company generated total revenue of $1.3 billion for the
12 months through September 2014.


HUTCHESON MEDICAL: Erlanger Blocked From Foreclosing on Hospital
----------------------------------------------------------------
Kate Harrison Belz at Timesfreepress.com reports that U.S.
District Court Judge Harold Murphy has stopped Erlanger Health
System's attempts to foreclose on Hutcheson Medical Center.

Timesfreepress.com relates that Judge Murphy ruled that the Debtor
would suffer "significant harm" if foreclosed upon, and that
staying the foreclosure would not harm Erlanger Health.  Judge
Murphy added that the question as to whether Erlanger Health could
legally foreclose on the Debtor still needed to be resolved
legally through the appeals process, Timesfreepress.com states.

Timesfreepress.com recalls that Erlanger Health filed a lawsuit
against the Debtor to recoup more than $20 million it loaned
during a now-defunct management agreement.

Erlanger Health, Timesfreepress.com recalls, had said that the
attempt to foreclose on the Debtor is a legal step in the process
to hold the Debtor accountable to the agreement, since its
property was put up for collateral during the original agreement.
The Debtor, however, denied that it owes Erlanger Health, claiming
that Erlanger Health did not hold up its end of the management
agreement, according to the report.

                  About Hutcheson Medical Center

Hutcheson Medical Center, Inc., operates the 179-bed hospital and
related ancillary facilities, including, without limitation, a
skilled nursing home and an ambulatory surgery center, located in
Ft. Oglethorpe, Georgia, known as Hutcheson Medical Center.  HMC
leases the land and buildings that comprise the Medical Center
from The Hospital Authority of Walker, Dade and Catoosa Counties.

HMC and Hutcheson Medical Division, Inc., sought Chapter 11
bankruptcy protection (Bankr. N.D. Ga. Case No. 14-42863 and 14-
42864) in Rome, Georgia, on Nov. 20, 2014.  The cases are jointly
administered under Case No. 14-42863.

The cases have been assigned to the Honorable Paul W. Bonapfel.

The Debtors are represented by Ashley Reynolds Ray, Esq., and J.
Robert Williamson, Esq., at Scroggins and Williamson, in Atlanta,
Georgia.

The Debtors' Chapter 11 Plan and Disclosure Statement are due
March 20, 2015.  The appointment of a health care ombudsman is due
by Dec. 22, 2014.

HMC estimated $10 million to $50 million in assets and $50 million
to $100 million in debt.

No request has been made for the appointment of a trustee or
examiner, and no committee has been appointed in the cases.


HYPERDYNAMICS CORP: Posts $4.05-Mil. Net Loss for Third Quarter
---------------------------------------------------------------
Hyperdynamics Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing
a net loss of $4.05 million for the three months ended Sept. 30,
2014, compared with a net loss of $4.45 million for the same
period during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed
$42.6 million in total assets, $1.18 million in total liabilities
and total stockholders' equity of $41.4 million.

Its costs related to the items referred to above and any
additional expenses, or any negative outcomes, could adversely
affect the Company's liquidity and financial condition and results
of operations.  The Company also will be responsible for its
participating interest share of costs in excess of $100 million
gross costs associated with joint operations expenditures,
including operator overhead and the ultra-deepwater exploration
well when drilled, and such excess expenditures could exacerbate
its liquidity.  Absent cash inflows, the Company could exhaust its
current available liquidity within the next twelve months.  The
timing and amount of its cash outflows are dependent on a number
of factors including: legal and other professional fees related to
the FCPA investigations, a negative outcome related to any of its
legal proceedings and investigations, well costs exceeding its
carry, or if the Company has unfavorable well results.  As a
result, absent cash inflows, there is substantial doubt as to
whether the Company will have adequate capital resources to meet
its current obligations as they become due and therefore be able
to continue as a going concern, according to the regulatory
filing.

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

                       http://is.gd/6f0VoE

Hyperdynamics has two wholly-owned subsidiaries, SCS Corporation
Ltd (SCS), a Cayman corporation, and HYD Resources Corporation
(HYD), a Texas corporation. Through SCS and its wholly-owned
subsidiary, SCS Guinea SARL (SCSG), which is a Guinea limited
liability company formed under the laws of the Republic of Guinea
("Guinea") located in Conakry, Guinea, Hyperdynamics focuses on
oil and gas exploration offshore the coast of West Africa.


IDAHO BANCORP: Gets Approval of Chapter 11 Plan of Liquidation
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a bankruptcy judge has issued an order
confirming Idaho Bancorp's Chapter 11 liquidating plan after no
objections were lodged against the plan.  According to the report,
the plan, which was accepted by all classes entitled to vote, took
effect on Nov. 25.

                       About Idaho Bancorp

Idaho Bancorp -- http://www.idahobankingco.com-- is headquartered
in Boise, Idaho, and is the parent company of Idaho Banking
Company, a state-chartered commercial bank and member of the
Federal Reserve System, which was organized in 1996 and operates
four branch offices.  At December 31, 2013, Idaho Banking Company
had $100 million in assets, $62 million in loans and $96 million
in deposits.  The Company serves clients throughout southwestern
Idaho.

Idaho Bancorp filed a Chapter 11 bankruptcy petition (Bankr. D.
Idaho Case No. 14-00662) on April 24, 2014.  The case is assigned
to Judge Terry L Myers.  The Debtor has tapped Noah G. Hillen,
Esq., in Boise, Idaho, as counsel.  The Debtor scheduled $4.32
million in total assets and $7.23 million in liabilities.


IMPAX LABORATORIES: Moody's Assigns B1 Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating
and B2-PD Probability of Default Rating to Impax Laboratories,
Inc.  Moody's also assigned a B1 rating to the proposed $485
million senior secured credit facility, including a $435 million
term loan and a $50 million revolving credit facility. The
proceeds of the term loan, along with cash on hand will be used to
fund the acquisition of Tower Holdings, Inc. (including operating
subsidiaries CorePharma LLC and Amedra Pharmaceuticals LLC) and
Lineage Therapeutics, Inc. (together "CorePharma") for $700
million. Moody's also assigned a Speculative Grade Liquidity
Rating of SGL-2, signifying good liquidity. The outlook is stable.

Ratings assigned:

  Corporate Family Rating, B1

  Probability of Default Rating, B2-PD

  $435 million senior secured term loan, B1, LGD3

  $50 million revolving credit facility, B1, LGD3

  Speculative Grade Liquidity Rating, SGL-2

  The outlook is stable.

Ratings Rationale

The B1 Corporate Family Rating reflects significant near-term
uncertainty due to the company's on-going regulatory issues.
Because of the company's inability to launch new products out of
its Hayward, California facility there will be volatility in
operating results until the FDA warning letter is resolved. The
rating also reflects Impax's modest size and scale in a rapidly
consolidating industry that faces pricing pressure and increasing
legal and regulatory costs. The rating also incorporates Moody's
expectation that Impax will continue to be acquisitive which --
though potentially adding scale and diversity --could further
increase leverage and integration risk.

Despite volatility in near-term cash flows, the ratings are
supported by Moody's view that longer-term Impax will generate
substantial value from its pipeline of generic and branded drugs.
The ratings are supported by Impax's modest adjusted debt to
EBITDA, which Moody's approximates would be 2.0x for the year
ending December 31, 2014, including CorePharma. Moody's
anticipates that, even under a scenario in which the warning
letter is not lifted over the next 12-18 months, adjusted debt to
EBITDA would not exceed 4.0x. The ratings are supported by the
relatively good product diversity of Impax following the
acquisition of CorePharma as well as the potential for strong
revenue and earnings growth once the company is able to get
regulatory approval for key products in its pipeline.
Additionally, the ratings are supported by Impax's good liquidity
including over $150 million of cash following the CorePharma
acquisition.

While not anticipated in the near-term, Moody's could upgrade the
ratings if Impax resolves all of its regulatory issues and
successfully launches key products out of its pipeline, including
Rytary, thus growing its scale. Further, if the company
successfully integrates CorePharma and Moody's expects the company
to maintain adjusted debt to EBITDA below 3.0x while generating
free cash flow to debt above 15%, the ratings could be upgraded.

Moody's could downgrade the ratings if the company's regulatory
issues escalate or if there is disruption from the integration of
CorePharma such that adjusted debt to EBITDA is expected to
increase above 4.0x. Further, material weakening of liquidity or
acquisitions that materially add debt and risk prior to the
resolution of the warning letter could also lead to a downgrade of
the ratings.

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

Impax, headquartered in Hayward, CA, is a specialty generic and
branded pharmaceutical producer operating in the US and with
manufacturing facilities in California and Taiwan. Impax recorded
total revenues of $566 million for the twelve months ended
September 30, 2014.


INTERMETRO COMMUNICATIONS: Sells 800,000 Preferred Shares
---------------------------------------------------------
InterMetro Communications, Inc., sold 800,000 shares of Series C
Preferred Stock together with warrants to purchase 800,000 shares
of common stock at an exercise price of $0.25 cents per share in
exchange for a total purchase price of $800,000.  The securities
were sold to accredited investors in a private placement that was
exempt from registration under Regulation D of the Securities Act
of 1933, as amended.  An investor generally has the right to
acquire up to $300,000 in additional Series C Preferred stock
prior to the Company issuing such additional available Series C
Preferred stock.

On Nov. 28, 2014, the Company authorized Series C Preferred Stock.
The Company also established the rights and preferences of Series
C Preferred Stock.  The number of authorized shares is 1,300,000
and the shares are non-voting.  The shares generally may be
redeemed by the Company for $1.00 per share plus payment of any
accrued but unpaid dividends.

                          About InterMetro

Simi Valley, Calif.-based InterMetro Communications, Inc.,
-- http://www.intermetro.net/-- is a Nevada corporation which
through its wholly owned subsidiary, InterMetro Communications,
Inc. (Delaware), is engaged in the business of providing voice
over Internet Protocol ("VoIP") communications services.

InterMetro Communications reported a net loss of $2.45 million on
$11.57 million of net revenues for the year ended Dec. 31, 2013,
as compared with net income of $699,000 on $20.06 million of net
revenues in 2012.

As of June 30, 2014, the Company had $3.36 million in total
assets, $15.73 million in total liabilities and a $12.36 million
total stockholders' deficit.

Gumbiner Savett Inc., in Santa Monica, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company incurred net losses in previous years, and as of
Dec. 31, 2013, the Company had a working capital deficit of
approximately $12,082,000 and a total stockholders' deficit of
approximately $12,426,000.  The Company anticipates that it will
not have sufficient cash flow to fund its operations in the near
term and through fiscal 2014 without the completion of additional
financing.  These factors, among other things, raise substantial
doubt about the Company's ability to continue as a going concern


INT'L MANUFACTURING: Asks for Approval of IMGF Settlement
---------------------------------------------------------
Beverly N. McFarland, the acting Chapter 11 trustee of the
bankruptcy estate of International Manufacturing Group, Inc., is
moving the Bankruptcy Court for approval of a settlement among the
IMG Estate; the Chapter 11 estate of IMG's president and sole
shareholder, Deepal Sunil Wannakuwatte ("DW Estate"); the Chapter
7 estate of Mr. Wannakuwatte's wife, Betsy Kathryn Wannakuwatte
("BW Estate"); and IMG Funding, LLC.

The Settlement is the result of an all-day mediation with JAMS
member and retired bankruptcy Judge Randall Newsome serving as
mediator as well as multiple additional postmediation day
negotiations facilitated by Judge Newsome.  The Settlement
resolves various disputes with respect to IMGF's asserted secured
and constructive trust claims against property of the IMG Estate,
the DW Estate and the BW Estate as well as frees up funds the
Trustee can use to prosecute claims against third parties.

IMGF claims that on Feb. 3, 2014, Mr. Wannakuwatte forwarded
falsified financial documents to IMGF which misrepresented IMG's
financial status, revenues, profits, assets, and the value of
IMG's contracts with the Department of Veterans Affairs and IMG's
other customers.  IMGF claims, and Trustee does not dispute, that
IMGF advanced $2,303,000 to IMG in February 2014.  The Trustee
asserts that IMGF's loan transaction falls under the California
Statute of Frauds and required a written agreement signed by IMG.
IMG scheduled IMGF as an unsecured creditor in the amount of
$2,303,000 as of the Petition Date.

On Oct. 2, 2014, IMGF filed a secured claim in the amount of
$2,623,650.88 as of the Petition Date, with the claim consisting
of principal in the amount of $2,303,030, and interest, and fees
and costs of $320,651.  On Feb. 28, 2014, IMGF sued IMG and Mr.
Wannakuwatte in the United States District Court for the Eastern
District of California, Case No. 2:14-cv-00583-JAM-DAD for
violation of federal and state securities laws, fraud, fraudulent
transfer, and fraudulent business practices.  IMGF asserts it is
the beneficiary of a constructive trust over two of IMG's bank
accounts currently containing $562,286.14

The basic terms of the settlement result in the IMG Estate
receiving 100% of the value of all its business and other hard
assets and to obtain the immediate use of approximately 62% of
funds recovered pursuant to IMGF's constructive trust claims with
repayment from future litigation proceeds at a cost of 1% of the
litigation recoveries up to $50 million.

The salient terms of the settlement are:

  (a) IMGF will release any lien on the proceeds from the sale of
IMG's business and other assets and all such proceeds will belong
to the IMG Estate;

  (b) IMGF will assign to the IMG Estate all of IMGF's causes of
action for constructive trust and other claims against IMG and all
related entities with respect to approximately $1.3 million
("Constructive Trust Funds") and the IMG Estate will prosecute
those causes of action;

  (c) IMGF and the IMG Estate will split the Constructive Trust
Funds which are actually received by the IMG Estate (net of costs
to recover those funds) ("Net Constructive Trust Proceeds") such
that 61.54% of the Net Constructive Trust Proceeds will be paid to
the IMG Estate ("IMG Constructive Trust Proceeds") and IMGF will
be entitled to a lien on and to be paid 38.46% of the Net
Constructive Trust Proceeds approximately 30 days after the
receipt of any such funds;

  (d) IMGF also will be entitled to a lien on and to be paid an
amount that is equivalent to the IMG Constructive Trust Proceeds
("IMGF Priority Payment") from 20% of the gross recoveries
(calculated after reimbursement of costs but before attorneys'
fees) on litigation brought by the Trustee against third parties
other than litigation to recovery the Constructive Trust Funds
("Third Party Litigation Recoveries") until IMGF has been paid the
full amount of the IMGF Priority Payment;

  (e) IMGF further will be entitled to a lien on and to be paid 1%
of the first $50 million in Third Party Litigation Recoveries
("IMGF Additional Payment");

  (f) IMGF will be entitled to one allowed claim (the "Allowed
Claim") in the amount of $2,303,000 -- which is the principal
amount of IMGF's asserted claim without any interest, attorneys'
fees or other costs -- and IMGF shall be entitled to participate
in any distributions from the IMG Estate to holders of general
unsecured claims on account of the Allowed IMGF Claim after
deducting any amount paid to IMGF on account of (i) the IMGF
Constructive Trust Payment, (ii) the IMGF Priority Payment, (iii)
the IMGF Additional Payment, and (iv) any prior distributions paid
to IMGF on account of the Allowed IMGF Claim from the IMG Estate
or the DW Estate; however, in no event will IMGF be entitled to
receive more than $2,303,000 on account of the Allowed IMGF Claim;
and

  (g) The Trustee, the IMG Estate as well as the trustees of each
of the DW Estate, the BW Estate and those estates, on one hand,
and IMGF on the other hand will mutually release each other.

A hearing on the settlement is slated for Dec. 17 at 10:00 a.m.

               About International Manufacturing

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

International Manufacturing Group is primarily engaged in the
retail sale and distribution of consumable or disposable medical
supplies for dentists and supplies and equipment for tattoo
artists.  IMG filed a Chapter 11 bankruptcy petition (Bankr. E.D.
Cal. Case No. 14-25820) in Sacramento, on May 30, 2014.  The case
is assigned to Judge Robert S. Bardwil.

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

The Official Committee of Unsecured Creditors -- comprising of
Byron Younger, Janine Jones, and Steve Whitesides -- retained
Joseph & Cohen, P.C., as its counsel.

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


INVERSIONES ALSACIA: Court Confirms Chapter 11 Plan
---------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
confirmed on Dec. 4, 2014, Inversiones Alsacia S.A.'s prepackaged
plan of reorganization.

Promptly following the satisfaction of the conditions precedent to
the effectiveness of the Plan, the Company will issue new 8.0%
Senior Secured Notes due 2018 to holders of existing 8.0% Senior
Secured Notes due 2018 that have previously tendered their
Existing Notes in accordance with the procedures described in the
Plan.

The Company has not experienced and does not expect to experience
any disruptions in its operations during its reorganization
process.  Specifically, the Company expects to continue to:

      a. operate its full schedule of services to the citizens of
         Santiago;

      b. provide its employees with wages, healthcare coverage,
         vacation days, and similar benefits without interruption;
         and

      c. pay suppliers for goods and services received throughout
         the reorganization process.

No other creditors or suppliers have been, or should be, affected
by the restructuring of the Existing Notes that is to be
implemented in accordance with the Plan.  The Company remains
current on all of its other obligations as of the date of this
announcement.

A spokesperson for the Company commented, "The confirmation of our
restructuring plan is a crucial step to ensuring that we will have
sufficient resources to continue operating in the ordinary course
of business.  In addition, successful conclusion of our
restructuring will put us in a better position to evaluate the
replacement of over 60% of our fleet, which will have ten years of
service in 2015.  If such replacement occurs, it will allow us to
provide an improved service to the citizens of Santiago."

                          About Alsacia

Inversiones Alsacia, together with its affiliate, Express de
Santiago Uno S.A., are collectively the largest operator in the
Transantiago Transportation System, transporting approximately
800,000 passengers every day, throughout 35 communities in
Santiago, Chile, which accounts for more than 30% of the
passengers in Transantiago.  Alsacia and Express have the right to
provide the transportation services pursuant to concession
agreements with Chile's Ministry of Transportation and
Telecommunications, which agreements expire October 2018.

Alsacia and Express belong to non-debtor Global Public Services
S.A. ("GPS Group"), an international holding company with
interests in public passenger transportation, environmental
solutions, outsourcing services and real estate development in
Chile, Colombia, Panama, Peru and the United States of America.
The GPS Group is controlled by Carlos Mario Rios Velilla and
Francisco Javier Rios Velilla and several of their affiliates.

Alsacia and Express and three affiliates sought bankruptcy
protection under Chapter 11 of the U.S. Bankruptcy Code in
Manhattan, New York (Bankr. S.D.N.Y.) on Oct. 16, 2014, with a
prepackaged plan that would restructure $347.3 million in senior
secured notes but leave other creditors and the owners unimpaired.
The cases are pending before the Honorable Martin Glenn and the
Debtors have requested that their cases be jointly administered
under Case No. 14-12896.

The Debtors have tapped Cleary Gottlieb Steen & Hamilton, LLP, as
bankruptcy counsel, FTI Consulting as financial advisor, and Prime
Clerk LLC as claims and balloting agent.

The Court will consider adequacy of disclosure materials and
approval of the prepackaged Chapter 11 plan at a hearing schedules
for Dec. 4.  The Plan contemplates that the companies can
implement a planned exchange offer with holders of $347.3 million
in senior secured notes.


KANGADIS FOOD: Class Failed in Bid Against Owners, Judge Says
-------------------------------------------------------------
Law360 reported that New York federal Judge Jed S. Rakoff
explained his prior decision tossing a class action targeting the
owners of bankrupt Kangadis Food Inc. personally for the company's
allegedly misleading claims about the purity of its olive oil,
saying the plaintiffs provided scant evidence to justify piercing
the corporate veil.

According to the report, just over a month after granting summary
judgment to the Kangadis family in a cursory order, Judge Rakoff
elaborated in a more detailed filing that plaintiffs Joseph Ebin
and Yeruchum Jenkins "totally failed."

As previously reported by The Troubled Company Reporter, Judge
Rakoff threw out the class action targeting the owners of Kangadis
personally for the company's alleged misleading claims about the
purity of its olive oil, citing a lack of evidence linking the
Kangadis family to the alleged fraud.  Judge Rakoff granted
summary judgment to the owners -- Aristidis, Andromahi and Themis
Kangadis -- in a brief order, ending a suit that Joseph Ebin and
Yeruchum Jenkins brought.

The case is Ebin et al v. Kangadis Family Management LLC et al.,
Case No. 1:14-cv-01324 (S.D.N.Y.).

                       About Kangadis Food

Formed in 2003, Kangadis Food Inc. is an importer of olives and
other European delicacies, and a leading distributor of olive oil.
The Debtor sells its products under the brand names "Capatriti,"
"Porto," "Olio Villa," "Zorba," and "Kivotos".  The company is
100% owned by the Kangadis family.  The company says that for the
past six years, the popularity of its olive oil product sold under
the brand name "Capatriti" has grown over time, and it is one of
the leading brands in the New York metropolitan area.

As of its bankruptcy filing, Kangadis Food employs 51 people, and
operates from a 75,000 square foot facility located in Hauppauge,
New York, that serves as a warehouse, production facility, and
shipping center.

Kangadis Food Inc. filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 8-14-72649) in the Central Islip division, in
New York, on June 6, 2014.  Themistoklis Kangadis signed the
petition as chief executive officer.

As of the Dec. 31, 2013, the Debtor, on an unaudited basis, had
total assets of $12,259,802 and total liabilities of $6,136,456,
which amount does not include any disputed claim relating to the
class action.

Judge Robert E. Grossman presides over the case. Silverman
Acampora LLP, in Jericho, New York, serves as the Debtor's
counsel.


KAHN FAMILY: Wells Fargo to Foreclose on 3 Portions of Complex
--------------------------------------------------------------
Roddie Burris at The State reports that Alan Kahn will lose to a
foreclosure by Wells Fargo three portions of Village at Sandhill
shopping complex in Northeast Richland, Columbia, South Carolina -
- the Marketplace Phase II retail center, the VAS Condominiums,
and another undeveloped parcel -- in a settlement of a
$100 million Chapter 11 bankruptcy filing.

According to The State, the Bankruptcy Court valued the
Marketplace Phase II retail area at over $2 million, and the
condominiums were valued at $15.8 million.

The foreclosures would be "seamless to the public" and not have
any visible effect on the complex, The State says, citing Mr.
Kahn.

The Bankruptcy Court, The State recalls, gave Mr. Kahn until
Nov. 28, 2014, to either liquidate or refinance the Wells Fargo
portfolio, or face foreclosure.

The State relates that the Dutch Plaza, an office building in St.
Andrews, is also being foreclosed on in the massive bankruptcy
deal.  A downtown Columbia warehouse and a residence in Isle of
Palms near the S.C. coast have either been sold already or are yet
to be sold to help pay back the creditor, the report adds, citing
Mr. Kahn.

The State explains that all six of the properties were part of the
assets Mr. Kahn used as collateral to borrow $64 million to keep
his faltering real estate development empire afloat.  According to
the report, Mr. Kahn said Wells Fargo requested him to either
liquidate their collateral properties or convey the properties
back to them through a deed of foreclosure.  "This is simply
another part of the process of working to provide a greater return
for my creditors, which I have been doing for some time now," the
report quoted Mr. Kahn as saying.

The State adds that Mr. Kahn said the house at the Isle of Palms
will also be sold in a few weeks.

                         About Kahn Family

Kahn Family, LLC, and Kahn Properties South, LLC, filed Chapter 11
petitions (Bankr. D. S.C. Case Nos. 13-02354 and 13-02355) on
April 22, 2013.  Kahn Family disclosed $50 million to $100 million
in assets and liabilities.  R. Geoffrey Levy, Esq., at Levy Law
Firm, LLC, serves as the Debtors' counsel.  David G. Wolff, Esq.,
at Barnes, Alford, Stork & Johnson, LLP, is the Debtor's special
counsel.  Bill Quattlebaum, CPA of Elliott Davis, LLC, serves as
its accountant.

The Debtor's Plan of Reorganization dated Dec. 20, 2013, provides
that payments and distributions under the Plan will be funded by
(1) the sale of certain of the Debtor's real property at fair
market value; (2) the transfer of certain real property of the
Debtor to Gibraltar BB4, LLC; (3) conversion of certain unsecured
claims against the Debtor to equity in the Reorganized Debtor; (4)
cash on hand on the Effective Date; and (5) cash flow from
continuing operations.


KEEPSAKE HOMES: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Keepsake Homes, Inc.
        4008 Penn Avenue
        P.O. Box 2181
        Sinking Spring, PA 19608

Case No.: 14-19556

Chapter 11 Petition Date: December 3, 2014

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Reading)

Judge: Hon. Richard E. Fehling

Debtor's Counsel: Ali M. Audi, Esq.
                  MILLER LAW GROUP, PLLC
                  25 Stevens Avenue
                  West Lawn, PA 19609
                  Tel: 610 670 9000
                  Email: aaudi@millerlawgroup.net

Total Assets: $138,499

Total Liabilities: $1.30 million

The petition was signed by William Hines, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/paeb14-19556.pdf


KEMET CORP: Inks Incentive and Severance Agreement With CFO
-----------------------------------------------------------
KEMET Corporation entered into an Incentive Award, Severance and
Non-Competition Agreement with William M. Lowe, Jr., its executive
vice president and chief financial officer.

Pursuant to the Lowe Agreement, Mr. Lowe is granted 275,000
restricted stock units with a grant date of Dec. 1, 2014.  Upon
vesting, the RSUs are settled as restricted shares of Company
common stock, and cannot be sold until 90 days after Mr. Lowe's
termination of employment with the Company, except to the extent
that his ownership of Company common stock exceeds his target
under the Company's ownership guidelines.  The 25,000 RSUs will
vest on the first, second, and third anniversaries of the Grant
Date, respectively, and the remaining 200,000 RSUs will vest on
the fourth anniversary of the Grant Date.  All outstanding
unvested RSUs become fully vested in the event of Mr. Lowe's death
or Disability, his resignation for Good Reason, or termination by
the Company for reasons other than Cause or within 24 months
following a Change in Control.

In the event that Mr. Lowe's employment is terminated by the
Company without Cause, or Mr. Lowe resigns for Good Reason, Mr.
Lowe is entitled to receive monthly Severance Payments for 24
months following the termination date.  Those Severance Payments
are equal to 1/12th of the sum of Mr. Lowe's annual base salary
and his target bonus under the Company's Annual Incentive Plan,
calculated as of the termination date.  Severance Payments are
subject to Mr. Lowe's execution of a General Release.  In the
event that a termination of employment occurs within 24 months
after a Change in Control, the terms of Mr. Lowe's Change in
Control Severance Compensation Agreement.

Pursuant to the Lowe Agreement, Mr. Lowe is subject to certain
non-competition and non-solicitation obligations for a period
equal to (a) one year after the date of termination, in the event
that Mr. Lowe resigns (except for Good Reason) or his employment
is terminated by the Company for Cause, or (b) such time as the
Company is obligated to make Severance Payments to Mr. Lowe, in
the event that Mr. Lowe resigns for Good Reason or the Company
terminates his employment (except for Cause).  In the event of a
breach by Mr. Lowe, the Company is entitled to specific
performance and/or injunctive relief.  In addition, all further
Severance Payments cease and any Severance Payments previously
made must be repaid by Mr. Lowe, all unvested RSUs granted
pursuant to the Lowe Agreement are cancelled, restricted stock
from vested RSUs are forfeited and gains realized from the sale of
any restricted stock received from vested RSUs must be repaid to
the Company.

Also on Dec. 1, 2014, the Company entered into an Incentive Award
and Non-Competition Agreement with Charles C. Meeks, Jr., its
executive vice president, Solid Capacitor Business Group.
Pursuant to the Meeks Agreement, Mr. Meeks is granted 160,000
restricted stock units with a grant date of Dec. 1, 2014.  Upon
vesting, the RSUs are settled as restricted shares of Company
common stock, and cannot be sold until 90 days after Mr. Meek's
termination of employment with the Company, except to the extent
that his ownership of Company common stock exceeds his target
under the Company's ownership guidelines.  The 20,000 RSUs will
vest on the first, second, and third anniversaries of the Grant
Date, respectively, and the remaining 100,000 RSUs will vest on
the fourth anniversary of the Grant Date.  All outstanding
unvested RSUs become fully vested in the event of Mr. Meek's death
or Disability, his resignation for Good Reason, or termination by
the Company for reasons other than Cause or within 24 months
following a Change in Control.

Pursuant to the Meeks Agreement, Mr. Meeks is subject to certain
non-competition and non-solicitation obligations for a period of
one year after the date of termination. In the event of a breach
by Mr. Meeks, the Company is entitled to specific performance
and/or injunctive relief.  In addition, all unvested RSUs granted
pursuant to the Meeks Agreement are cancelled, restricted stock
from vested RSUs are forfeited and gains realized from the sale of
any restricted stock received from vested RSUs must be repaid to
the Company.

                            About KEMET

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

The Company's balance sheet at June 30, 2014, showed $838.64
million in total assets, $620.39 million in total liabilities and
$218.25 million in total stockholders' equity.

                           *     *     *

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

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

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

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


LAKES SUPER MARKET: Louie's Fresh Supermarket in Calumet Closes
---------------------------------------------------------------
Sam Ali at Abc10up.com reports that Louie's Fresh Supermarket in
Calumet has closed down.  The Company posted on its Facebook page
that it has been working closely with a new supplier that will
fully restock the Lake Linden store pending court approval on Dec.
9, 2014.  The Company assured in its post that operations at the
Lake Linden location would continue.

Louie's Fresh Supermarket is owned by Lakes Super Market
Incorporated.

Headquartered in Calumet, Michigan, Lakes Super Market, Inc. --
dba Louie's Fresh Markets, fka Louie's Super 2 Foods, dba Quality
Hardware Store, fka Louie's Super Foods, fka Louie's Super Value -
- filed for Chapter 11 bankruptcy protection (Bankr. W.D. Mich.
Case No. 14-90309) on Aug. 19, 2014, listing $881,779 in total
assets and $6.77 million in total liabilities.  The petition was
signed by Louis J. Meneguzzo, president.

Dane P. Bays, Esq., at Bays Law Offices, serves as the Debtor's
bankruptcy counsel.

Judge Scott W. Dales presides over the case.


LATEX FOAM: Reaches Deal with Unsec. Creditors, Files Plan
----------------------------------------------------------
BedTimes reports that Latex Foam International Holdings Inc. said
it has reached an agreement with unsecured creditors and submitted
a reorganization plan to the U.S. Bankruptcy Court for the
District of Connecticut.

A news release says that the Company will no longer be sold and
that it is concentrating on executing a growth plan.

Larry Thomas at Furniture Today relates that under the Plan
jointly filed by the Company and the unsecured creditors
committee, unsecured creditors' claims would be converted into
preferred stock in Latex Foam International Holdings.

Furniture Today says that the Company has the right to redeem the
preferred stock by paying 50% of the value of the creditors'
claims within three years after the Plan goes into effect.  The
report states that beyond that date, the preferred stock can be
redeemed for 60% of the value of the claims.  According to the
report, the preferred stock would be placed in a trust, which
would appoint a non-voting observer to attend the Company's board
meetings.

Furniture Today reports that under the Plan, the state of
Connecticut would get the full $104,156 it is owed for sales and
use taxes, and a $16.4 million note from Wells Fargo would be
refinanced as a seven-year note with a balloon payment at the end
of the term.  Furniture Today adds that the Company would have to
make monthly principal and interest payments based on a 30-year
amortization schedule until the balloon payment is due.

"This plan is the culmination of several months of reorganization
and restructuring of our business, including the rebuilding of our
primary production facility that had been severely damaged by fire
. . . .  We said at the time of our filing that this was a
strategic decision to restructure a healthy business that was
burdened by financial debt obligations from agreements put in
place years ago.  Relieving ourselves of those burdens puts our
company in a position where it can finance itself from operations.
The restructuring and post-fire rebuild of our state-of-the-art
equipment has allowed us to reduce lead times, enhance customer
service and improve our first-quality to 99%.  This, coupled with
over 99%-on-time delivery, truly does enhance our customers'
experience," BedTimes quoted David Fisher, Latex International
president and chief executive officer, as saying.

                         About Latex Foam

Headquartered in Shelton, Connecticut, Latex Foam International,
LLC manufactures foam mattresses and component mattresses.  The
196-employee company produces mattress cores, toppers, and pillow
buns utilizing both the Talaway and Dunlop manufacturing
processes.

LFIH is a holding company for 100% of the equity interests in LFI,
PLB, and an inactive entity, Dunlop Latex Foam (Malaysia) SDN.
BHD.

LFI and four affiliates sought Chapter 11 bankruptcy protection
(Bankr. D. Conn. Lead Case No. 14-50845) in Bridgeport,
Connecticut, on May 30, 2014.  David Fisher signed the petitions
as president.  The Debtors are seeking joint administration of
their cases.

LFI disclosed $18,437,185 in assets and $30,342,926 in liabilities
as of the Chapter 11 filing.

Judge Alan H.W. Shiff presides over the cases.

James Berman, Esq., and Craig I. Lifland, Esq., at Zeisler and
Zeisler, serve as the Debtors' counsel.

On June 19, 2014, the U.S. Trustee appointed five creditors to
serve on the Official Committee of Unsecured Creditors.   The
Committee tapped to retain Schafer and Weiner, PLLC as its
counsel, and Reid and Reige, P.C. as its local counsel.


LEHMAN BROTHERS: Judge Delays Decision on $64M FirstBank Claim
--------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Shelley Chapman shelved
a dispute over the validity of FirstBank Puerto Rico's $63.5
million claim for collateral on a swap contract with a unit of
Lehman Brothers Holdings Inc., citing the potential impact of a
related pending appellate case.  According to the report, Judge
Chapman elected not to rule on the Lehman Brothers Inc. trustee's
attempt to expunge the claim until a federal judge says whether
FirstBank can recover the same collateral from Barclays PLC, which
bought the brokerage following its 2008 collapse.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

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

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

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

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

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates.


LONG BEACH: Says Amendments to Sale Agreement Necessary
-------------------------------------------------------
Long Beach Medical Center, et al., and the Official Committee of
Unsecured Creditors responded to the objection and reservation of
rights of South Nassau Communities Hospital to the joint motion to
approve amendments to the (i) purchase and sale agreement, (ii)
asset purchase agreement with Komanoff and MLAP Acquisition II LLC
dated May 8, 2014, and (iii) receivership agreement relating to
the sale of assets and properties of Long Beach Memorial Nursing
Home, Inc.

The Debtors and the Committee said that the proposed amendments
were necessary due to changing regulatory environment at the New
York State Department of Health and the unpredictable delay in
gaining the appointment of MLAP as receiver.

Additionally, the Debtors and the Committee stated that continued
administration of the cases should not be stopped pending a sale
closing.

As reported in the TCR on Nov. 19, 2014, the Debtors and the
Committee said that the amendment provide for, among other things,
an increase in the aggregate cash portion of the nursing dome
purchase price from $15.6 million to $15.825 million if a
certificate of need is approved by the New York State Department
of Health at a full 200 bed complement in exchange for an agreed
bed reduction of $81,500 if DOH approves a CON for a reduced
number of beds between 50 and 200 beds and thereafter, an agreed
per bed reduction of $77,000 for any additional bed reduction
under 150 beds.

A copy of the terms is available for free at

     http://bankrupt.com/misc/LONGBEACH_277_sale_amendments.pdf

                    About Long Beach Medical Center

Long Beach Medical Center, formerly Long Beach Memorial Hospital,
was a 162-bed, community-based hospital offering primary, acute,
emergency and long-term health care to residents of Long Beach,
New York.  Founded in 1922, LBMC was a teaching facility for the
New York College of Osteopathic Medicine.  LBMC was shut down
after superstorm Sandy devastated the hospital in October 2012.

Long Beach Memorial Nursing Home Inc, runs the The Komanoff Center
for Geriatric and Rehabilitative Medicine, a 200-bed skilled
nursing facility affiliated with LBMC. It provides services for
residents requiring long term nursing home care and short term
post-acute (sub-acute) care.  Currently there are 127 residents of
Komanoff.

Long Beach Medical Center and Long Beach Memorial Nursing Home
d/b/a The Komanoff Center for Geriatric and Rehabilitative
Medicine, sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y.
Case Nos. 14-70593 and 14-70597) on Feb. 19, 2014.

Long Beach Medical Center scheduled $17,400,606 in total assets
and $84,512,298 in total liabilities.

Garfunkel Wild P.C. serves as the Debtors' counsel. GCG, Inc., is
the Debtors' claims and noticing agent.  The Hon. Alan S. Trust
presides over the cases.

The U.S. Trustee has appointed three members to the official
committee of unsecured creditors.  The panel retained Klestadt &
Winters, LLP, led by Sean C. Southard, Esq., as counsel.


MATADOR PROCESSORS: Hires Biditup to Sell Assets
------------------------------------------------
Brianna Bailey at NewsOk reports that Matador Processing, LLC,
fdba Matador Processors, Inc., has sought authorization from the
U.S. Bankruptcy Court for the Western District of Oklahoma to hire
Biditup to sell the Company or its assets to satisfy its
creditors.

"At this point, it appears to be headed for the auction block if
we do not make a sale in the next 30 days," NewsOk quoted David
Sisson, Esq., the attorney for the Company, as saying.

Matador owner Betty Wood has made every effort to seek new sources
of capital to invest in the Company, and she hopes to find a local
buyer who would keep the chile rellenos factory operating, NewsOk
states, citing Mr. Sisson.

NewsOk quoted Mr. Sisson as saying, "There were a number of
avenues that were explored pretty extensively -- not just to find
a lender or attracting investment partners, but none of those
panned out.  I know Mrs. Wood very much would wish someone locally
would come in and purchase the business, but there have not been
any parties interested in doing that so far."

NewsOk relates that the sale could include the machinery used at
the plant to make chile rellenos that are manufactured at the
Blanchard plant and distributed to restaurants, including breading
and battering machines, and conveyor belts.

                    About Matador Processing

Headquartered in Blanchard, Oklahoma, Matador Processing, LLC,
fdba Matador Processors, Inc., makes frozen chile rellenos that
are sold to restaurants.  It was founded in 1975 by Clif and Betty
Wood in Blanchard.  At its peak, the Debtor employed about 49
people in Blanchard.  Ms. Wood said in a NewsOK.com report that
the Debtor now has 20 employees and is still hiring.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. W.D.
Okla. Case No. 13-15303) on Dec. 2, 2013, estimating its
liabilities at between $500,001 and $1 million against $1 million
to $10 million in estimated assets.  The Hon. Niles L. Jackson
presides over the case.  David B. Sisson, Esq., who has an office
in Norman, Oklahoma, serves as the Debtor's bankruptcy counsel.
The petition was signed by Betty J. Wood, managing member.

According to the NewsOK.com report, Ms. Wood said that she was
forced to file for Chapter 11 bankruptcy protection a few weeks
before Christmas in 2013 to save the Debtor's manufacturing plant
from foreclosure after BancFirst, one of the Debtor's largest
creditors, refused to work with the Debtor on its mortgage.


MEGA RV: Hearing Today on Approval of GE Commercial Agreement
-------------------------------------------------------------
The Bankruptcy Court will convene a hearing date today, Dec. 8,
2014, at 2:00 p.m., to consider approval of the agreement between
Mega RV Corp., the Official Committee of Unsecured Creditors,
Brent McMahon and his affiliated entities, and GE Commercial
Distribution Finance Corporation pursuant to Federal Rule of
Bankruptcy Procedure 9019.

The Debtor alleged it has claims against CDF who vigorously denies
them.  The agreement is a global resolution of all claims by and
against CDF, which should bring up to $4,700,000 into the estate
to allow the funding of a liquidating plan to be proposed by
Debtor and Committee.

Throughout the bankruptcy case, the Debtor has asserted certain
claims against CDF for its role in causing the cessation of
Debtor's business and its bankruptcy filing.  The Debtor and
McMahon personally have done all they could to try and bring funds
into the bankruptcy estate to help consumers who have been harmed.
The Debtor has done its best to leverage these claims into a
settlement of CDF's undersecured blanket lien for the benefit of
the Debtor's creditors.

The Debtor is represented by:

         Robert P. Goe, Esq.
         Elizabeth A. LaRocque, Esq.
         Donald W. Reid, Esq.
         GOE & FORSYTHE, LLP
         18101 Von Karman Avenue, Suite 510
         Irvine, CA 92612
         Tel: (949) 798-2460
         Fax: (949) 955-9437
         E-mails: rgoe@goeforlaw.com
                  elarocque@goeforlaw.com
                  dreid@goeforlaw.com

                        About Mega RV Corp.

Mega RV Corp. filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Cal. Case No. 14-13770) on June 15, 2014.  Brent McMahon signed
the petition as president.  The Debtor estimated assets and
liabilities of at least $10 million.  Goe & Forsythe, LLP, serves
as the Debtor's counsel.  Judge Mark S Wallace presides over the
case.

The U.S. Trustee for Region 16 on July 3 appointed three creditors
of Mega RV Corp. to serve on the official committee of unsecured
creditors.


MIG LLC: Dec. 11 Hearing on Approval of Litigation Trust Agreement
------------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Dec. 11, 2014 at
10:00 a.m., to consider approval of that certain amendment to the
Litigation Trust Agreement.

Through the motion, the Indenture Trustee, with the consent of
MIG, LLC, et al.,, the Litigation Trustee, and a majority in
aggregate amount of the Noteholders, request that the Court enter
an order (i) approving the Trust Agreement Amendment, and (ii)
confirming that the Trust Agreement Amendment does not affect any
of the security interests in any collateral under the collateral
documents and the indenture or any other applicable law.

Pursuant to the Litigation Trust Agreement, the Indenture, and
certain related security and collateral documents, the Indenture
Trustee (in its various capacities) can only exercise certain
remedies for the benefit of the Noteholders after it is directed
in writing by the Litigation Trustee.  For example, under the
Indenture, the Indenture Trustee cannot take any action with
respect to any of the Noteholders' collateral that is stock
pledged to the Indenture Trustee for the benefit of the
Noteholders pursuant to the other security and collateral
agreements until it receives written instructions from the
Litigation Trustee.

The Litigation Trust currently has no operating funds, and is
unlikely to bring additional litigation on its own behalf.

On Oct. 31, 2014, the Litigation Trustee notified the Noteholders
and the Litigation Trust that it will resign upon the earlier of
an order of the Court approving the amendment to the Litigation
Trust Agreement, or eighty days from the date of the resignation
letter.

                          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.


MIG LLC: Wants Removal Period Extended to Feb. 25
-------------------------------------------------
The Bankruptcy Court will convene a hearing on Dec. 11, 2014 at
10:00 a.m., to consider approval of MIG LLC, et al.'s motion to
extend the time to file notices of removal of proceedings pursuant
to Bankruptcy Rule 9027(a).  The Debtors are requesting that the
Court extend the removal period until Feb. 25, 2015.

                        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.


MINERVA NEUROSCIENCES: Has $27.2-Mil. Net Loss for 3rd Quarter
--------------------------------------------------------------
Minerva Neurosciences, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing
a net loss of $27.15 million for the three months ended Sept. 30,
2014, compared with a net loss of $488,193 for the same period in
2013.

The Company's balance sheet at Sept. 30, 2014, showed $73.33
million in total assets, $16.61 million in total liabilities and
total stockholders' equity of $56.71 million.

The Company has limited capital resources and has incurred
recurring operating losses and negative cash flows from operations
since inception.  As of Sept. 30, 2014, the Company has an
accumulated deficit of approximately $67.3 million.  Management
expects to continue to incur operating losses and negative cash
flows from operations.  The Company has financed its business to
date from proceeds from the sale of common stock, loans and
convertible promissory notes.  On July 7, 2014, the Company
completed an IPO and received net proceeds of $28.2 million,
including the over allotment.  In addition, on July 7, 2014, the
Company sold shares of its common stock in two private placements
resulting in net proceeds to the Company of approximately $23.4
million.  The Company will need to raise additional capital in
order to continue to fund operations and fully fund its clinical
development programs.  The Company believes that it will be able
to obtain additional working capital through equity financings or
other arrangements to fund operations; however, there can be no
assurance that such additional financing, if available, can be
obtained on terms acceptable to the Company.  If the Company is
unable to obtain such additional financing, future operations
would need to be scaled back or discontinued.  Minerva
Neurosciences' recurring losses from operations has raised
substantial doubt regarding its ability to continue as a going
concern.

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

                       http://is.gd/yXRkgP

Minerva Neurosciences, Inc., formerly known as Cyrenaic
Pharmaceuticals Inc., is focused on the development of an
experimental drug for the treatment of schizophrenia.  The
development stage biopharmaceutical company is based in Cambridge,
Massachusetts.


MONROE HOSPITAL: Files Chapter 11 Liquidating Plan
--------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Monroe Hospital LLC in Bloomington, Indiana,
filed a Chapter 11 plan of liquidation and disclosure materials
explaining the plan about one month after receiving court approval
to sell the hospital to an affiliate of Prime Healthcare Services
Inc.

According to the report, under the proposed plan, the secured
portion of the claim of hospital lessor MPT Bloomington LLC and
affiliated lender MPT Development Services Inc., which are
collectively owed about $121.8 million, would be paid by the buyer
as part of the purchase price.  Recovery on general unsecured
claims is "unknown," the report related.

                      About Monroe Hospital

Monroe Hospital, LLC, since 2006, has operated a 32 licensed bed
private acute care medical surgical hospital in Bloomington,
Indiana.  It leases the land on which the hospital is located from
MPT Bloomington, LLC.

Monroe Hospital, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Ind. Case No. 14-07417) in Indianapolis, Indiana, on
Aug. 8, 2014.  Joseph Roche signed the petition as president and
chief executive officer.  In its schedules, the Debtor disclosed
$14,327,739 in total assets and $136,386,925 in liabilities.

The case is assigned to Judge James M. Carr. The Debtor is
represented by attorneys at Bingham Greenebaum Doll
LLP.  Upshot Services LLC acts as the Debtor's noticing, claims
and balloting agent.


NAARTJIE CUSTOM KIDS: Sells ZA One Assets to Truworths
------------------------------------------------------
Naartjie Custom Kids, Inc., sought and obtained from the
Bankruptcy Court an order (1) authorizing it to exercise its
shareholder rights in ZA One (Pty) Ltd. to accomplish the sale of
ZA One's assets to Truworths Limited, and (2) authorizing the sale
of the Debtor's intellectual property and e-commerce business to
Truworths pursuant to Sections 363(b) and (f) of the Bankruptcy
Code.

The Debtor owns 100% of the 1,426 outstanding shares of ZA One, a
South African subsidiary of Naartjie, which operates stores in
South Africa and supplies designs to the Debtor.

After diligently canvassing the marketplace for the Assets, with
the assistance of Hilco IP Services LLC d/b/a Hilco Streambank as
the Debtor's marketing agent,2 the Debtor has determined, after
consultation with and receiving the approval of the UCC, that the
"Sale of Business Agreement" by and between ZA One as seller and
Truworths as purchaser, dated as of November 21, 2014, is the
highest and best offer for the Debtor's interests in ZA One and
will be designated as the Stalking Horse Agreement.

Similarly, the Debtor has determined that the "Asset Purchase
Agreement" with Truworths as "Buyer," dated as of November 21,
2014, is the highest and best offer for all of its intellectual
property assets including various trademarks, copyrights, domain
names, customer lists, and related data, and the right to acquire
the Debtor's e-commerce platform after Jan. 31, 2015.

The Agreements constitute one indivisible, mutually conditioned
transaction and entry into one is conditioned on entry into the
other.  Accordingly, the overall purchase price for the assets
sold to Truworths through the collective Agreements is fixed at
$2,700,000, which will be allocated between the two Agreements
upon closing of the transactions based on the calculation of the
value of the assets sold in the ZA One Agreement.

In general, the ZA One Agreement will convey ZA One's Business
(all of ZA One's assets and its assignable liabilities) to
Truworths as a going concern.  Regulatory approval for the
transaction by South African authorities is expected to take up to
two months.  Accordingly, the Closing Date for the transaction
will occur after necessary regulatory approval is obtained by
Truworths.

The Agreements were subject to higher and better offers to be
solicited at an auction.  Under the Court-approved bidding
procedures, prospective bidders were given until Nov. 21, 2014 to
submit initial bids.  The Debtor, after consultation with and
receiving approval of the Creditors Committee, has determined that
only one bidder is deemed a qualified bidder -- Truworths.  The
Debtor accordingly decided to cancel the auction.  Judge William
T. Thurman entered the sale order Nov. 25.  A copy of the sale
order is available for free at:

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

                          Objection

The lone objection to the sale was filed by Target Ease
International, which earlier filed a motion for termination of the
automatic stay.

Target objected to the sale motion to the extent:

   1. the sale seeks to restrain or prohibit Target's rights to
dispose of $2 million worth of goods that are the subject of the
stay motion;

   2. the Debtor seeks permission to transfer $305,000 to its
South African subsidiary; and

   3. the Debtor seeks authority to assign any agreement between
Target and the Debtor or its subsidiary to Truworths without fully
curing all defaults under the same.

In their joint reply to the objection, the Debtor and the Official
Committee of Unsecured Creditors pointed out that the objection
(a) improperly asks the Bankruptcy Court to make a premature
determination about Target's stay motion; (b) improperly asserts
that Target has an interest (which requires adequate protection)
in the $305,000 that the Debtor must fund to ZA One as a condition
to closing the ZA One Agreement and consequently, the closing of
the US Asset Purchase Agreement; and (c) objects to an assumption
and assignment that is not before the Court.

Target Ease is represented by:

         Mona L. Burton, Esq.
         Engels J. Tejeda, Esq.
         HOLLAND & HART LLP
         222 S. Main St., Suite 2200
         Salt Lake City, UT 84101
         Telephone: 801-799-5822
         Facsimile: 801-799-5700
         E-mail: mburton@hollandhart.com
                 ejtejeda@hollandhart.com

                   About Naartjie Custom Kids

Founded in Cape Town, South Africa in 1989, Naartjie is a
children's clothing brand that embraces bright, colorful, kid-
friendly clothes.  Naartjie designs, manufactures and sells
children's clothing, accessories and footwear for ages newborn
through 10 years old.

Naartjie Custom Kids, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Utah Case No. 14-29666) on Sept.
12, 2014.  The case is assigned to Judge William T. Thurman.

The Debtor's counsel is Annette W. Jarvis, Esq., Jeffrey M.
Armington, Esq., Benjamin J. Kotter, Esq., and Michael F. Thomson,
Esq., at Dorsey & Whitney LLP, in Salt Lake City, Utah.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP as its counsel.  Ray Quinney &
Nebeker P.C. serves as local counsel.  FTI Consulting, Inc. serves
as its financial advisor.


NII HOLDINGS: Noteholder Group Assails Plan-Support Deal
--------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that some NII Holdings Inc. noteholders complained
that the plan-support agreement filed by the company is the
product of a flawed process that improperly shifts significant
value away from senior creditors to more junior ones.

According to the Bloomberg report, an ad hoc group of holders of
senior notes issued by NII International Telecom SA, known as
LuxCo, asserted that while NII described the so-called PSA as a
"settlement," it's "no such thing," as the proposal is nothing
more than an agreement between two creditors of NII Capital Corp.,
known as CapCo, to resolve meritless litigation claims by taking
value away from LuxCo, according to the group.

As previously reported by The Troubled Company Reporter, NII
Holdings and its Official Committee of Unsecured Creditors agreed
to file plan that will grant shares of new stock to noteholders
and wipe out shareholders.

The Plan will incorporate terms of a plan support agreement
reached with noteholders, namely entities managed by Aurelius
Capital Management, LP, entities managed by Capital Research and
Management Company, and American Tower Corporation, American Tower
do Brasil - Cessao de Infraestruturas Ltda. and MATC Digital S. de
R.L. de C.V.

The PSA requires the Debtors to exit bankruptcy by April 2015.

Under the Plan, the Holders of Notes will be provided with the
option to subscribe to purchase $250 million of New NII Common
Stock pursuant to a rights offering.  Upon the Effective Date, the
New Board will adopt a management incentive plan, including (i)
restricted stock units for up to 2.5% of the New NII Common Stock
and (ii) options to purchase up to 2.5% of the New NII Common
Stock with any applicable exercise price to be determined by the
New Board (collectively, the "MIP Shares").

The Plan will provide for the issuance of $250 million of new
debt.

According to the Plan Term Sheet, the Plan proposes to treat
claims and interests as follows:

   -- Holders of 2016 Capco Notes and 2019 Capco Notes owed $1.36
billion will receive their pro rata share of 25.43% of the New NII
Common Stock Pool, subject to dilution by the Rights Offering
Shares and the MIP Shares.

   -- Holders of 2021 Capco Notes owed $1.5 billion will receive
their pro rata share of 11.06% of the New NII Common Stock Pool,
subject to dilution by the Rights Offering Shares and the MIP
Shares.

   -- Holders of 11.375% and 7.875% Luxco Notes owed $1.69 billion
Will receive their pro rata share of 63.51% of the New NII Common
Stock Pool, subject to dilution by the Rights Offering Shares and
the MIP Shares.

   -- Recovery and treatment for all holders of allowed general
unsecured claims against Capco, Luxco, Holdings, and other Debtors
will be determined by the Plan Proponents, subject to consent of
the Consenting Noteholders.

   -- Each holder of an allowed Convenience Class claim will
receive an amount equal to 100% of such claim in cash on or as
soon after the Effective Date as practicable, subject to a cap.

   -- Existing NII Equity Interests shall be extinguished,
cancelled and discharged as of the Effective Date, and holders of
Existing NII Equity Interests shall receive no distribution in
respect of their equity interests.

                       About NII Holdings

NII Holdings Inc. through its subsidiaries provides wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina.  NII Holdings has the exclusive right to use
the Nextel brand in its markets pursuant to a trademark license
agreement with Sprint Corporation and offers unique push-to-talk
("PTT") services associated with the Nextel brand in Latin
America.  NII Holdings' shares of common stock, par value $0.001,
are publicly traded under the symbol NIHD on the NASDAQ Global
Select Market.

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors have sought joint administration
of their Chapter 11 cases.

The Chapter 11 cases are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.  The U.S. Trustee for Region 2 on
Sept. 29 appointed five creditors of NII Holdings to serve on the
official committee of unsecured creditors.


NET ELEMENT: Further Amends $50 Million Securities Prospectus
-------------------------------------------------------------
Net Element, Inc., had amended its Form S-3 registration statement
with the U.S. Securities and Exchange Commission relating to the
offering and sale of securities totaling $50,000,000.  In
addition, Novatus Holding PTE. Ltd, Cayman Invest S.A., K 1
Holding Limited, and Beno Distribution, Ltd., may sell up to
19,947,334 shares of common stock from time to time, in amounts,
at prices, and on terms that will be determined at the time these
securities are offered.

The Company amended the registration statement to delay its
effective date.

The Company's common stock is listed on The NASDAQ Capital Market
under the symbol "NETE."  The Company's outstanding warrants are
quoted on the Over-the-Counter Bulletin Board under the symbol
"NETEW."  The Company will provide information in any applicable
prospectus supplement regarding any listing of securities other
than shares of the Company's common stock on any securities
exchange.

A full-text copy of the Form S-3/A is available for free at:

                        http://is.gd/uBpAGu

                         About Net Element

Miami, Fla.-based Net Element International, Inc. (formerly Net
Element, Inc.,) currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $48.31 million in 2013, as
compared with a net loss of $16.38 million in 2012.  The Company's
balance sheet at June 30, 2014, showed $16.57 million in total
assets, $22.79 million in total liabilities and a $6.21 million
total stockholders' deficit.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NORTEL NETWORKS: HP Responds to Proposed Deal
---------------------------------------------
BankruptcyData reported that Hewlett-Packard and Hewlett-Packard
Financial Services filed with the U.S. Bankruptcy Court a limited
response to Nortel Network's motion, pursuant to Bankruptcy Rule
9019, for an order approving the stipulation of settlement of
avoidance claims by and between (1) NNI and Nortel Networks (CALA)
and (2) HP and HPFS.

According to BData, the response states, "...HP and HPFS are
concerned that a party in interest other than the Debtors might
contend in subsequent litigation involving HP or HPFS that they
were not put on notice of those provisions of the releases. HP and
HPFS do not believe that any party would be successful in the
assertion of such a contention. However, in the abundance of
caution, HP and HPFS request that decretal paragraph 2 of the
proposed form of Order on the Motion be revised to read as
follows: The Debtors are authorized to enter into the Stipulation,
and the Stipulation, including, but not limited to the releases
contained in paragraphs 5 and 6 thereof, is approved in its
entirety; HP and HPFS submit herewith as Exhibit A, a revised
proposed form of Order providing for the revised decretal
paragraph 2."

                      About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
business in more than 150 countries around the world.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced a proceeding with the Ontario Superior Court of Justice
under the Companies' Creditors Arrangement Act (Canada) seeking
relief from their creditors.  Ernst & Young was appointed to serve
as monitor and foreign representative of the Canadian Nortel
Group.  That same day, the Monitor sought recognition of the CCAA
Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No.
09-10164) under Chapter 15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New
York, serve as the U.S. Debtors' general bankruptcy counsel; Derek
C. Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in
Wilmington, serves as Delaware counsel.  The Chapter 11 Debtors'
other professionals are Lazard Freres & Co. LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims and notice
agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., in Wilmington, Delaware,
represent the Unsecured Creditors Committee.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of Long-
Term Disability Participants tapped Alvarez & Marsal Healthcare
Industry Group as financial advisor.  The Retiree Committee is
represented by McCarter & English LLP as Delaware counsel, and
Togut Segal & Segal serves as the Retiree Committee.  The
Committee retained Alvarez & Marsal Healthcare Industry Group as
financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.


PARLIAMENT PARTNERS: Goes to Jan. 15 Plan Hearing
-------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a bankruptcy judge in Orlando, Florida,
conditionally approved the disclosure statement explaining
Parliament Partners Inc.'s plan, paving the way for the Debtor to
solicit votes.

According to the report, final approval of the disclosure
statement will be considered at a Jan. 15 hearing to approve the
plan.  Funds contributed by the husband and wife would cover
administrative claims, while general unsecured creditors would
share pro rata in three potential contributions, one of which
would come from the husband and wife, the report related.

Orlando, Florida-based Parliament Partners, Inc., dba Parliament
House, sought protection under Chapter 11 of the Bankruptcy Code
on July 25, 2014 (Bankr. M.D. Fla., Case No. 14-08503).  The
Debtor's counsel is R Scott Shuker, Esq., at Latham, Shuker, Eden
& Beaudine LLP, Orlando, Florida.


PERMA-FIX ENVIRONMENTAL: Has $1.87-Mil. Net Income in Q3
--------------------------------------------------------
Perma-Fix Environmental Services, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q, disclosing net income of $1.87 million on $16.9 million of
net revenues for the three months ended Sept. 30, 2014, compared
with a net loss of $800,000 on $19.07 million of net revenues for
the same period last year.

The Company's balance sheet at Sept. 30, 2014, showed $88.9
million in total assets, $40.01 million in total liabilities and
total stockholders' equity of $47.7 million.

The Company's former independent registered public accounting firm
included in its report covering its 2013 audited consolidated
financial statements an explanatory paragraph regarding
substantial doubt about the Company's ability to continue as a
going concern.  The Company's financial position and operating
results raised substantial doubt about the Company's ability to
continue as a going concern, as reflected by the accumulated
deficit of $57.16 million incurred through Sept. 30, 2014.

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

                       http://is.gd/ch30FQ

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) provides
nuclear waste solutions.  PESI's nuclear waste services include
management and treatment of radioactive and mixed waste for
hospitals; research labs and institutions; federal agencies,
including the U.S. Department of Energy, the U.S. Department of
Defense; and the commercial nuclear industry.


PETTERS GROUP: Trustee Reaches $93MM Clawback Deal With Fund
------------------------------------------------------------
Law360 reported that the trustee for companies owned by convicted
Ponzi schemer Thomas Petters has reached a $93 million clawback
deal with a fund that received payouts before the scheme
collapsed.

According to the report, Trustee Douglas Kelley, the lawyer in
charge of the bankruptcy process, told a Minnesota bankruptcy
court he'd reached a deal under which Epsilon Global Active Value
Fund II would pay $92.7 million and settle all of Kelley's claims
on it.  The money represents what EGAVF got from Epsilon Global
Master Fund II LP, which has already reached its own settlement,
the report related.

The adversary case is Kelley v. Westford Special Situations Master
Fund LP et al., case number 4:10-ap-04396, in the U.S. Bankruptcy
Court for the District of Minnesota.

                    About Petters Company, Inc.

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.

Douglas Kelley, the Chapter 11 Trustee of Petters Company, Inc.,
et al., is represented by James A. Lodoen, Esq., at Lindquist &
Vennum LLP, in Minneapolis, Minn.  The trustee tapped Haynes 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.


PORTER BANCORP: Porter Estate Has 24% Stake as of June 20
---------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, the Estate of J. Chester Porter, Betty Porter,
Executrix of the Estate of J. Chester Porter disclosed that as of
June 20, 2014, they beneficially owned 3,198,668 shares of common
stock of Porter Bancorp, Inc., representing 24.4 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/DvlbMr

                        About Porter Bancorp

Porter Bancorp, Inc., is a bank holding company headquartered in
Louisville, Kentucky.  Through its wholly-owned subsidiary PBI
Bank, the Company operates 18 full-service banking offices in
12 counties in Kentucky.

Porter Bancorp incurred a net loss attributable to common
shareholders of $3.39 million in 2013, a net loss attributable to
common shareholders of $33.43 million in 2012 and a net loss
attributable to common shareholders of $105.15 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $1.03
billion in total assets, $1 billion in total liabilities and
$29.32 million in total stockholders' equity.

Crowe Horwath, LLP, in Louisville, Kentucky, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has incurred substantial losses in 2013, 2012 and
2011, largely as a result of asset impairments.  In addition, the
Company's bank subsidiary is not in compliance with a regulatory
enforcement order issued by its primary federal regulator
requiring, among other things, increased minimum regulatory
capital ratios.  Additional losses or the continued inability to
comply with the regulatory enforcement order may result in
additional adverse regulatory action.  These events raise
substantial doubt about the Company's ability to continue as a
going concern.


PRESIDIO INC: Moody's Puts B1 CFR on Review for Downgrade
---------------------------------------------------------
Moody's Investors Service has placed Presidio, Inc.'s B1 corporate
family rating and B1-PD probability of default rating on review
for downgrade. Moody's also placed under review the company's B1
rating on the senior secured credit facilities.

Ratings Rationale

The rating action follows the news that Presidio is being sold to
Apollo Global Management. Although the purchase price and the
financing terms have not been announced, Moody's believes that the
transaction will result in adding more debt to the balance sheet,
on top of the debt recapitalization the company completed earlier
in 2014. Moody's believes Presidio's adjusted debt to EBITDA
leverage will likely exceed 5.0 times at closing (expected in the
first quarter of 2015).

Moody's review will focus on evaluating the terms of the proposed
capitalization to finance the acquisition and management's long
term plans to manage its debt profile.

Rating actions:

  Corporate Family Rating -- B1 placed under review for downgrade

  Probability of Default -- B1-PD placed under review for
  downgrade

  First Lien Senior Secured B1 placed under review for downgrade

Based in Greenbelt, MD, Presidio, Inc. is a provider of
information technology (IT) infrastructure and services focused on
data center, virtualization, network communications, security,
mobility and contact centers for commercial and government clients
within the U.S. The company is 87% owned by private equity firm,
American Securities and is in the process of being sold to Apollo
Global Management.

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


PROGRESSIVE CASUALTY: High Court Denies Appeal Over Fee Fight
-------------------------------------------------------------
Law360 reported that the U.S. Supreme Court rejected a bid by a
Florida father-son law firm to discharge in bankruptcy a $2
million judgment for other attorneys who claimed they were
intentionally deprived of fees through a secret settlement
covering thousands of insurance cases.

According to the report, the fee ruling, originally handed down in
Florida state court, was the result of a lawsuit brought by
Stewart Tilghman Fox & Bianchi PA, William C. Hearon PA and Todd
S. Stewart PA against appellants Charles J. Kane and his son,
Harley N. Kane, of Kane & Kane PA -- plus several other attorneys
and firms who had "pulled the rug out from under" them, in the
words of one court, by working out a secret deal with Progressive
Casualty Insurance Co. to settle more than 2,500 personal injury
protection and bad faith claims.

The Stewart firms, as they are referred to in the case filings,
successfully pursued the dispute through adversary claims for
discharge exceptions against both Kanes in bankruptcy court, with
affirmations from district court and the Eleventh Circuit that the
Kanes had caused "willful and malicious injury."

The case is Kane et al. v. Stewart Tilghman Fox & Bianchi PA et
al., case number 14-352, in the Supreme Court of the United
States.


PWK TIMBERLAND: Wants to Sell Calcasieu Parish to Shalon Latour
---------------------------------------------------------------
PWK Timberland, LLC, asks the Court for authorization to sell real
estate located at the corner of Highway 90 and Manchester Road
(Hwy. 3256) in Calcasieu Parish, State of Louisiana, to Shalon and
Nicholas Latour or its assigns.  The Debtor intends to sell the
real property for a price of $320,000.  The property has been
marketed by Reinauer Real Estate Corporation as realtor which will
be compensated a 6% real estate commission from the sale proceeds.

                       About PWK Timberland

Lake Charles, Louisiana-based PWK Timberland LLC sought Chapter 11
protection (Bankr. W.D. La. Case No. 13-20242) on March 22, 2013.
Gerald J. Casey, Esq., serves as counsel to the Debtor.  The
Debtor disclosed $15,038,448 in assets and $1,792,957 in
liabilities as of the Chapter 11 filing.

The Debtor has filed a first amended plan of reorganization and
explanatory disclosure statement.   A copy of the First Amended
Disclosure Statement dated April 30, 2014, is available for free
at http://bankrupt.com/misc/PWKTIMBERLAND_1stAmdDS.PDF

As reported in the Dec. 11, 2013 edition of the Troubled Company
Reporter, PWK Timberland's Plan provides that all allowed claims
will be satisfied in full.  The Plan contemplates (i) that the
unsecured claims of former members are unimpaired; (ii) the Debtor
does not believe there are any general unsecured creditors but if
there are, they will be paid in full on the Effective Date; and
(iii) equity holders agreed to forgo any payments under the plan
until all impaired creditors have been paid in according to the
terms of the Plan.


PWK TIMBERLAND: Wants to Sell Parish of Vernon for $120,000
-----------------------------------------------------------
PWK Timberland, LLC, asks the Bankruptcy Court for authorization
to sell real estate located in the Parish of Vernon, State of
Louisiana to Sterling Acquisitions, LLC, and or its assigns for
$120,000.

The Debtor is represented by:

         Gerald J. Casey, Esq.
         613 Alamo Street
         Lake Charles, LA 70601
         Tel: (337) 474-5005
         Fax: (337) 310-4877
         E-mail: gcasey@caseylaw.net

                       About PWK Timberland

Lake Charles, Louisiana-based PWK Timberland LLC sought Chapter 11
protection (Bankr. W.D. La. Case No. 13-20242) on March 22, 2013.
Gerald J. Casey, Esq., serves as counsel to the Debtor.  The
Debtor disclosed $15,038,448 in assets and $1,792,957 in
liabilities as of the Chapter 11 filing.

The Debtor has filed a first amended plan of reorganization and
explanatory disclosure statement.   A copy of the First Amended
Disclosure Statement dated April 30, 2014, is available for free
at http://bankrupt.com/misc/PWKTIMBERLAND_1stAmdDS.PDF

As reported in the Dec. 11, 2013 edition of the Troubled Company
Reporter, PWK Timberland's Plan provides that all allowed claims
will be satisfied in full.  The Plan contemplates (i) that the
unsecured claims of former members are unimpaired; (ii) the Debtor
does not believe there are any general unsecured creditors but if
there are, they will be paid in full on the Effective Date; and
(iii) equity holders agreed to forgo any payments under the plan
until all impaired creditors have been paid in according to the
terms of the Plan.


QUEST SOLUTION: Adds Thomas Miller to Board of Directors
--------------------------------------------------------
Quest Solution, Inc., has added veteran technology executive
Thomas O. Miller to its Board of Directors.  Mr. Miller's tenure
on the Board is effective Dec. 2, 2014.

Mr. Miller brings to Quest Solution an extensive resume of
successes in the technology industry.  Miller previously served on
the Board of Directors of Socket Mobile, Inc., and is a Partner in
The SAGE Group of Bellevue, Washington, a management consulting
company that works with executives at small to midsize companies
on business transformation and revitalization strategies for
value-creating events.  Mr. Miller directs the Company's mobile
computing, wireless, automated data collection and IP Path to
Value practice.  Mr. Miller and The SAGE Group also advise private
equity firms who invest in wireless and mobility companies.

Prior to joining The SAGE Group, Mr. Miller was a member of the
executive team at Intermec Corporation, a leader in the automated
data collection, wireless and mobile computing industries, serving
as its President from 2004 to 2005.  He was also vice president of
Corporate Development until July 2006 with Intermec's parent
company UNOVA.  Mr. Miller previously served on the Board of
Directors and the audit and compensation committees of InfoLogix,
Inc., an enterprise mobility automation company serving the
healthcare industry from October 2006 until 2011, when it was
purchased by Stanley Works.  He currently serves on the Board of
Directors of Mobile Technology Inc. a global leader in mobile
display technology solutions for consumer electronics and mobile
enterprise companies.  Mr. Miller holds a Bachelor of Business and
a Masters of Business Administration degree from Western Illinois
University.

The Company said it is working with the board to determine a
compensation for the director's time at the board meetings.

Concurrently, the Company has entered into an agreement with The
Sage Group, which Mr. Miller is a partner, for one year at a rate
of $10,000 per month to assist in the acquisition strategy,
evaluate the Internet of Things market adoption for potential
involvement and participation, inclusive of other proprietary
strategies the Company is implementing for its growth plans.

"On behalf of Quest Solution, Inc.'s Board of Directors, we
welcome Tom to our growing roster of experienced executives,"
stated Jason Griffith, Chairman of the Board for Quest Solution,
Inc.  "We fully expect Tom to be a critical intellectual asset and
to leverage his tremendous reputation and contacts."

"I welcome the opportunity to join Quest Solution as a
contributing member to one of the country's leading mobile
computing and data collection system integrators," stated Miller.
"The Company's elite technology- proven in a number of verticals
speaks to a bright future in a multitude of industries.  I am
excited to a play a part in their future successes."

               Hosts Webinar to Update Industry
                      on Latest Technology

Quest Solution hosted a webinar for the Snack Food and Wholesale
Bakery Industry on Dec. 4, 2014.

The webinar was designed to showcase emerging opportunities in
snack food and bakery markets where mobile applications can reduce
stale percentages by as much as 50%.  The presentation also
featured savings and efficiency benefits including improved order
accuracy and account service times.  The webinar provided
information and guidance on the use of this technology with
experts from Quest Solution and their partner, MiT Systems, Inc,
who specialize in the development of these innovative distribution
software solutions.

Quest Solution and MiT Systems, Inc., currently serve six of the
top wholesale bakeries and has a growing body of case studies and
market data.  "Every day, thousands of workers in the baking
industry depend on Quest Solution for their mobile automation
needs and we are looking forward to the webinar for our potential
and existing clients to see some of the latest developments,"
stated George Zicman, Senior VP of Sales, Quest Solution.

                        About Quest Solution

Quest Solution (formerly known as Amerigo Energy, Inc.) is a
national mobility systems integrator with a focus on design,
delivery, deployment and support of fully integrated mobile
solutions.  The Company takes a consultative approach by offering
end to end solutions that include hardware, software,
communications and full lifecycle management services.  The highly
tenured team of professionals simplifies the integration process
and delivers proven problem solving solutions backed by numerous
customer references.  Motorola, Intermec, Honeywell, Panasonic,
AirWatch, Wavelink, SOTI and Zebra are major suppliers which Quest
Solution uses in its systems.

Amerigo Energy reported a net loss of $1.12 million in 2013
following a net loss of $191,364 in 2012.

L.L. Bradford & Company, LLC, Las Vegas, NV, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit that raises substantial doubt about its
ability to continue as a going concern.


RADIOSHACK CORP: Shares Trading Briefly Halt on Clash With Lender
-----------------------------------------------------------------
The Associated Press reports that trading in RadioShack Corp.
shares stopped on Tuesday after the Company disclosed a dispute
with one of its lenders, but resumed in the afternoon, with the
Company's stock dropping as much as 20% before closing down 8%, or
6 cents, at 72 cents.

As reported by the Troubled Company Reporter on Dec. 3, 2014, Drew
Fitzgerald, writing for The Wall Street Journal, reported
that a fight between the Company and some of its lenders erupted
during the crucial holiday season, threatening the retailer's
efforts to restructure its operations and avoid bankruptcy.
According to Richard Collings at The Deal, the Company said it
received notice from Salus Capital Partners LLC, the administrator
for the retailer's $250 million term loan facility, that it has
breached covenants related to a refinancing in early October
struck with a group of investors led by hedge fund Standard
General LP.

The AP relates that the Company's chief executive, Joseph C.
Magnacca, asserted that the lenders had repeatedly blocked efforts
to speed the Company's turnaround despite their knowledge of the
hurdles it faces.

                   About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com--
is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139.4 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Worth, Texas-based RadioShack Corp. to 'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek
capital, and that such a transaction could include a debt
restructuring in addition to store closures and other measures,"
said Standard & Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.
The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa2 from Caa1.  "The continuing negative trend in RadioShack's
sales and margins has resulted in a precipitous drop in
profitability causing continued deterioration in credit metrics
and liquidity," Mickey Chadha, Senior Analyst at Moody's said.


RADIOSHACK CORP: November Sales Drop 30%, Says Franchisee
---------------------------------------------------------
Mitch Nolen at Seeking Alpha reports that Gary Mahan,
representative for the Western division of RadioShack's Franchise
Advisory Council, said that his store's November 2014 sales
declined 30% over last year.

The RadioShack franchise order desk reported hearing similar
stories about Black Friday at other RadioShack franchises, Seeking
Alpha states, citing Mr. Mahan.

According to Seeking Alpha, RadioShack's same-store sales dropped
20% in the most recently reported quarter.

Mr. Mahan, Seeking Alpha says, believes his one store on the
Oregon coast could have made an extra $1,000 in profit over the
Black Friday weekend if he had received the iPhone 6 and 6 Plus.
According to the report, Mr. Mahan couldn't speculate how that
$1,000 in lost profit opportunity might extrapolate to other
stores in the RadioShack chain.

Seeking Alpha relates that RadioShack's Web site directs users to
find a store.  Iphone models were out of stock in RadioShack
locations across the country hours before the company's
Thanksgiving sales started, the report adds.

                   About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com--
is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139.4 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Worth, Texas-based RadioShack Corp. to 'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek
capital, and that such a transaction could include a debt
restructuring in addition to store closures and other measures,"
said Standard & Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.
The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa2 from Caa1.  "The continuing negative trend in RadioShack's
sales and margins has resulted in a precipitous drop in
profitability causing continued deterioration in credit metrics
and liquidity," Mickey Chadha, Senior Analyst at Moody's said.


RADIOSHACK CORP: Says It Will Fight Salus Capital Breach Claim
--------------------------------------------------------------
Law360 reported that financially troubled RadioShack Corp. went
public with news that Salus Capital Partners has claimed breaches
under a $250 million facility provided to the retailer by the
Harbinger Group Inc. unit along with Cerberus Business Finance,
disputing the claim and calling it "self-serving."  According to
the report, the Texas-based company, which in October restructured
$585 million in debt with other lenders and hired former U.S.
Department of the Treasury senior adviser Harry Wilson to lead a
turnaround effort, said it would contest the claims related to the
term loan facility.

                   About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com--
is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139.4 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Worth, Texas-based RadioShack Corp. to 'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek
capital, and that such a transaction could include a debt
restructuring in addition to store closures and other measures,"
said Standard & Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.
The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa2 from Caa1.  "The continuing negative trend in RadioShack's
sales and margins has resulted in a precipitous drop in
profitability causing continued deterioration in credit metrics
and liquidity," Mickey Chadha, Senior Analyst at Moody's said.


RADIOSHACK CORP: Closes Two Stores in Sacramento
------------------------------------------------
Mark Glover at The Sacramento Bee reports that RadioShack Corp.
recently closed two stores in Sacramento, California.

The Company said in an e-mail that it closed stores at 4500
Freeport Boulevard near Land Park and in the Strawberry Creek
Shopping Center at 8241 Bruceville Road.  According to the
Company's e-mail, the Company still maintains "very good coverage
with stores still in place" throughout the region.  The Company's
website on Wednesday showed 23 stores within a 25-mile radius of
downtown Sacramento, including outlets in Roseville, Folsom, Elk
Grove, Citrus Heights, Rancho Cordova, West Sacramento, Davis and
Woodland.  The Sacramento Bee relates that overall, the Company
has 529 California stores.

"Despite their intimate knowledge of the challenges that
RadioShack faced when they extended credit to us late last year,
our current term lenders have repeatedly blocked our efforts to
accelerate and intensify our turnaround and make smart decisions
for our business.  Now, prompted by their narrow self-interest,
they appear to be trying to manufacture a problem during the
critical holiday shopping season in an effort to get out of a loan
on which they have already reaped more than $35 million in fees
and interest payments," The Sacramento Bee quoted RadioShack CEO
Joe Magnacca as saying.

According to The Sacramento Bee, New York-based marketing and
branding expert Peter Schaub said, "RadioShack is really walking a
tightrope without a net . . . .  On one hand, they want to cut
back and shore up their financial house, but it sounds like the
lenders don't want to be left out in the cold."

"I think they're going to close, but it's about doing it on an
orderly basis," The Associated Press quoted Maglan Capital co-
founder and portfolio manager David Tawil as saying.

                   About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com--
is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139.4 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a


$63 million total shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Worth, Texas-based RadioShack Corp. to 'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek
capital, and that such a transaction could include a debt
restructuring in addition to store closures and other measures,"
said Standard & Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.
The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa2 from Caa1.  "The continuing negative trend in RadioShack's
sales and margins has resulted in a precipitous drop in
profitability causing continued deterioration in credit metrics
and liquidity," Mickey Chadha, Senior Analyst at Moody's said.


RED SHIELD: Court OKs Sale of Old Town to KPS's Expera
------------------------------------------------------
Expera Specialty Solutions, LLC, a portfolio company of KPS
Capital Partners, LP, on Dec. 5 announced the acquisition of
certain assets related to the Old Town Fuel & Fiber pulp mill.
Expera acquired the assets free and clear of substantially all
liens, claims, encumbrances and interests through an auction
conducted as part of a sale process under Section 363 of the
United States Bankruptcy Code.  The U.S. Bankruptcy Court for the
District of Maine formally approved the transaction on Dec. 5.

Founded more than a century ago and located in Old Town, ME, Old
Town is a high-quality pulp mill with the capacity to produce
annually 200,000 tons of Northern Bleached Kraft pulp.  The mill
closed indefinitely this past August.  Expera intends to invest
significant capital and resources into Old Town to restart the
mill and ensure the highest level of production quality and
capacity.

"I'm excited to welcome the Old Town employees back to work and to
the Expera family," stated Russ Wanke, Chief Executive Officer of
Expera.  "Expera is a financially strong enterprise with an
excellent platform positioned for expansion and growth.  Under
Expera, Old Town will have significant top-line stability and will
benefit from our commitment to continuous improvement and
manufacturing excellence.  Old Town provides Expera with added
internal capabilities, allowing us to deliver to our customers
more product innovation and even better service."

Raquel Palmer, a Partner of KPS, said, "We are very proud of the
progress Expera has made to date.  The Company has improved its
profitability under our ownership and exceeded all of our growth
expectations.  Expera continues to capitalize on opportunities to
grow its business and capabilities, and this acquisition further
demonstrates the Company's commitment to being the leader in the
specialty paper market."

Old Town is in the process of equipment start-up and employees
will be coming back to work in several phases throughout the month
of December, reaching full employment capacity by January 5.

Paul, Weiss, Rifkind, Wharton and Garrison LLP and Pierce Atwood
LLP served as legal counsel to Expera and KPS.

                           About Expera

Expera -- http://www.experaspecialty.com-- is a North American
manufacturer of specialty paper products for use in the pressure-
sensitive release liner, industrial and food packaging segments.
Headquartered in Wisconsin, Expera employs approximately 2,000
people across five manufacturing facilities located in
Rhinelander, WI, Mosinee, WI, Kaukauna, WI, De Pere, WI, and Old
Town, ME.

                          About Red Shield

Four companies in October 2014 asked a bankruptcy judge in
Portland, Maine, to put Red Shield Acquisition LLC, the owner of
the shuttered Old Town Fuel and Fiber, into Chapter 7 bankruptcy
to satisfy their claims the company owes them more than $1
million.  The involuntary Chapter 7 case (Bankr. D. Maine Case No.
14-10812) was filed on Oct. 10, 2014.

Red Shield is represented by:

         Jeremy R. Fischer, Esq.
         DRUMMOND WOODSUM
         84 Marginal Way, Suite 600
         Portland, ME 04101-2480
         Tel: 207 772-1941
         E-mail: jfischer@dwmlaw.com

Petitioning creditors Trico Mechanical Contractors, Inc., and
CCB, Inc., are represented by:

         Michael A. Fagone, Esq.
         BERNSTEIN, SHUR, SAWYER & NELSON
         P.O. Box 9729
         Portland, ME 04104-5029
         Tel: (207) 774-1200
         E-mail: mfagone@bernsteinshur.com

Petitioning creditors Portage Wood Products, LLC, and Maine Woods
Company LLC, are represented by:

         Michael F. Hahn, Esq.
         EATON PEABODY
         One Portland Square, 7th Floor
         P.O. Box 15235
         Portland, ME 04112
         Tel: (207) 274-5266
         Fax : (207) 274-5286
         E-mail: mhahn@eatonpeabody.com


REICHHOLD HOLDINGS: Gets Nod for $106M DIP, January Auction
-----------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge blessed Reichhold
Inc.'s $106 million debtor-in-possession financing package and
plans to hold a Section 363 sale next month, after the chemical
company said it had resolved creditor concerns.

According to the report, U.S. Bankruptcy Judge Mary F. Walrath
gave the green light to Reichhold's revised final DIP order as
well as bidding procedures that establish senior secured
noteholders as a stalking horse for a January auction, noting that
both proposals faced no opposition.  Judge Walrath, the report
said, had reluctantly granted interim approval to the noteholder-
furnished $106.4 million DIP at Reichhold's first-day hearing in
October, making $93.6 million immediately available, but expressed
concerns that it would entrench bondholders as the stalking horse
bidder.

                         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.


REVEL AC: Can't Shake Tax Agreements, Atlantic City Says
--------------------------------------------------------
Law360 reported that Atlantic City told a New Jersey bankruptcy
court that Revel Casino Hotel must honor a tax settlement
agreement the duo had inked over disputed property tax
assessments, saying Revel's objection lacks a legitimate
bankruptcy interest since the casino has closed and is essentially
liquidating.  According to the report, Revel argues that the city
based the agreement on inflated property values, but Atlantic City
says the casino has no basis to challenge the settlement
agreement, which covers the 2011 through 2015 tax years.

                          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: BNYM Asserts Right to Adequate Assurance of Payment
-------------------------------------------------------------
The Bank of New York Mellon, in its capacity as trustee for the
New Jersey Economic Development Authority Energy Facility Revenue
Bonds, filed a surreply to (i) Revel Ac, Inc., et al.'s omnibus
reply to objections to the their motion for entry of a final DIP
order; and (ii) DIP agent Wells Fargo Bank, N.A.'s and DIP lender
Wells Fargo Principal Lending, LLC's omnibus reply to objections
to the Debtors' motion.

BNYM stated that both the Debtors and Wells Fargo assert that BNYM
lacks standing to object to the DIP motion but BNYM has argued on
numerous occasions, that the contention lacks any merit and should
be rejected.

BNYM, in its previous objection to the Debtors' motion when ACR
Energy last raised its right to adequate assurance of payment
pursuant to section 366 of the Bankruptcy Code, the Court ruled
that its ability to control the distribution of proceeds from the
Debtors' pending sale was sufficient to protect ACR's interests.
As a result, unlike any other creditor, ACR remains bound by
section 366 to continue providing post-petition services,
notwithstanding the Debtors' failure to pay the agreed upon rate
and ACR's projected exposure to $11 million in unpaid
administrative claims.

In a separate filing, the Debtors filed an omnibus reply to
certain of the objections and related joinders filed by:

   i) IDEA Boardwalk, LLC;

  ii) Konami Gaming, Inc.;

iii) American Cut AC Marc Forgione, LLC, Azure AC Allegretti,
LLC, Exhale Enterprises XXI, Inc., GRGAC1, LLC, GRGAC2, LLC,
GRGAC3, LLC, Lugo AC, LLC, Mussel Bar AC, LLC, PM Atlantic City,
LLC, RJ Atlantic City, LLC and The Marwill Retail Group, LLC,
later restated and joined by IDEA;

  iv) ACR Energy Partners, LLC;

   v) the Bank of New York Mellon; and

  vi) the Official Committee of Unsecured Creditors.

According to the Debtors, the DIP Facility [wa]s the only
financing opportunity available to the Debtors that w[ould]
provide the liquidity necessary to bridge to an auction" during
the Chapter 11 cases.  Simply put, there would be no approved sale
to Brookfield US Holdings LLC of substantially all of the
Debtors' assets for $110 million without the postpetition
financing provided by the DIP Lenders.

Further, the terms and conditions of the DIP Facility "were
negotiated at arms' length by well represented, independent
parties in good faith . . . . [and] [t]he DIP Facility
and Prepetition Lenders' consent to the Debtors' use of cash
collateral are the product of hard fought, good faith
negotiations."

On Nov. 14, the Committee objected to the Debtor's motion, stating
that the egregious "cashless roll-up" feature, liens on the
proceeds of avoidance actions and the other extraordinary
provisions, if approved on a final basis, will eliminate the only
sources of recovery for unsecured creditors.  The sources are
routinely made available or, at a minimum, there is a negotiation,
whereby a woefully undersecured prepetition lender willingly
advances funds solely to protect its own interests.

As of the filing of the cases, the Debtors held approximately
$9.8 million of fungible "cage cash" and listed real estate assets
owned by SI LLC having an aggregate value of $7,503,838.  These
assets were not subject to valid and perfected liens or mortgages
of the prepetition lenders as of the commencement of the cases.

ACR Energy, in its objection stated that with the sale of the
Debtors' assets on the eve of closing, the Debtors sought an
unprecedented final DIP financing order that affords broad liens
and super-priority claims, rolling up of the lenders' undersecured
prepetition 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.

             ACR Energy's objection to Motion to Strike

ACR Energy Partners, LLC, objected to the motion of Wells Fargo to
strike ACR Energy's objection to the Debtors' motion for interim
and final orders (A) authorizing the Debtors to, among others (I)
obtain postpetition financing, and (ii) use cash collateral.

According to ACR Energy, the motion to strike must be denied and
the Court should consider the DIP objection, because (i) the facts
and circumstances of the cases have materially changed since the
first day hearings in the cases; (ii) discovery has now revealed
that ACR Energy has been the target of the CUP litigation
strategy" crafted by the Debtors and lenders before the
commencement of the cases solely as a means to minimize new money
advances and wholly unrelated to the reasonableness of the
contract price charged under the ESA; and (iii) if approved, the
final DIP order will grant substantial benefits to the lenders,
elevate their position from the petition date and relieve the
lenders of certain expenses they would have to pay if their
collateral.

Wells Fargo has requested for authorization to strike the
objection filed by ACR Energy stating that the ACR objection is a
blatant violation of the Court's adequate assurance order entered
on July 11, 2014, which expressly provides that: "ACR Energy
waives its right to object to entry of the proposed final order on
Debtors' motion to obtain secured post petition financing.

                          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: Aspen Words Director Hopeful to Receive Contribution
-----------------------------------------------------------------
Maurice LaMee, director of the nonprofit Aspen Words which has
relied partly on a $1.5 million pledge from Samuel Wyly, said that
"there's still the likelihood that we'll receive the contribution
or some part of it," Rick Carroll at The Aspen Times reports.

The Aspen Times quoted Mr. LaMee as saying, "All of this could be
settled in the next few months, and we hope it doesn't create a
crisis . . . .  We don't really know yet.  We're trying to wait it
out since we're named as creditors in the bankruptcy."

The Aspen Times relates that three years of the pledge have been
paid, but the remaining two years remain in question.  According
to the report, Mr. LaMee confirmed that they "did receive money in
2014, so we're fine for this year.  It's 2015 that could become a
problem.  All of this could be settled in the next few months, and
we hope it doesn?t create a crisis."

                        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).


SEARS HOLDINGS: Former Prestige Cruise President Named to Board
---------------------------------------------------------------
Kunal S. Kamlani, formerly president and chief operating officer
of Prestige Cruise Holdings, Inc., was elected to the Board of
Directors of Sears Holdings Corporation on Dec. 3, 2014, according
to a regulatory filing with the U.S. Securities and Exchange
Commission.

Mr. Kamlani will hold office until the 2015 annual meeting of
stockholders of the Company, or until his successor is duly
elected and qualified.  The Board has determined that Mr. Kamlani
meets the standards of independence under the Company's Corporate
Governance Guidelines and the applicable NASDAQ listing rules.

There is no arrangement or understanding between Mr. Kamlani and
any other person pursuant to which he was selected as a director.
Mr. Kamlani will serve on the Audit Committee and Finance
Committee of the Board.  As a non-employee director, Mr. Kamlani
will receive compensation in the same manner as the Company's
other non-employee directors.

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SEARS HOLDINGS: Closing Stores, Selling Assets to Raise Cash
------------------------------------------------------------
The Associated Press reports that Sears Holdings Corp. CEO Edward
Lampert is closing weak stores, cutting inventory and selling
assets to raise cash to keep the Company afloat.

The AP relates that the Company has shut down 129 stores and for
the full year it expects to close a total of 235 stores, which
would result in several layoffs.

The latest third-quarter results will likely make it critical for
Sears to keep selling assets and stores, The AP states, citing
Brian Sozzi, CEO and chief equities strategies at Belus Capital
Advisors.

The Company, according to The AP, said that it is also shifting
its focus from running a store network to operating an online and
offline business tied together by its Shop Your Way loyalty
program.

Mitch Nolen at Seeking Alpha reports that an ongoing effort by
Sears' CEO to mitigate vendors' costs appears to be falling apart.
Seeking Alpha says that vendors are being squeezed by the cost to
protect shipments from a Sears bankruptcy, priced at over 140
times the rate of comparable Walmart insurance.

                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

Sears Holdings reported a net loss of $1.36 billion in 2013, a net
loss of $930 million in 2012 and a net loss of $3.14 billion in
2011.  As of Aug. 2, 2014, Sears Holdings had $16.43 billion in
total assets, $15.51 billion in total liabilities and $919 million
in total equity.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SENECA BIOENERGY: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------------
Seneca BioEnergy, LLC, filed for Chapter 11 bankruptcy protection
(Bankr. W.D.N.Y. Case No. 14-21470) on Dec. 1, 2014, estimating
its assets at $1 million to $10 million and its liabilities at
$500,000 to $1 million.  The petition was signed by Michael F.
Coia, managing member.

Matthew Daneman at Democrat & Chronicle reports that the
bankruptcy petition was filed days before the Debtor's production
facility along Route 96 in the Seneca AgBio Green Energy Park was
to be sold at public auction as it had fallen behind on its bank
loans.

According to Democrat & Chronicle, the Debtor's debts include
$9,400 to the town of Romulus and $4,700 to the local school
district and $47,000 owed to the Internal Revenue Service for
payroll taxes.  The report says that the Debtor has been awarded,
but have not received, substantial pots of public money in recent
years, including $7 million from the state.  The Debtor, the
report adds, said that receiving the public dollars revolve around
finding outside investors as well, which the Debtor is still
trying to do.

The Debtor said that it plans on operating during the bankruptcy
while restructuring to pay its debts, Democrat & Chronicle states.
Michael Coia, the Debtor's CEO, said in a statement that the
Debtor will "repay everyone in full.  Over the past year, we have
not been able to raise sufficient working capital alone and now we
realize the requirements to have a strategic investment partner .
. . . .  Our vision is still right, but we have taken the business
as far as we could, and now we need a white knight as an
investment partner."

Matthew Daneman at Democrat & Chronicle relates that the Debtor is
looking for tenants to real estate it occupies in the Green Energy
Park.

William C. Rieth, Esq., who has an office in Rochester, New York,
serves as the Debtor's bankruptcy counsel.

Judge Paul R. Warren presides over the case.

                       About Seneca BioEnergy

Headquartered in Geneva, New York, Seneca BioEnergy, LLC, is a
biodiesel company that operates out of the 10,000-acres old Seneca
Army Depot in Seneca County, where it also makes Finger Lakes
Grape Seed Oil, which is available at numerous wineries and some
Wegmans stores.  The company was born in 2008 out of grape seed
oil processing work in Ontario County.


SEQUENOM INC: Signs $50 Million Patents Agreement With Illumina
---------------------------------------------------------------
Sequenom, Inc., on Dec. 2, 2014, entered into a Pooled Patents
Agreement with Illumina, Inc., pursuant to which the parties will
pool their intellectual property directed to noninvasive prenatal
testing, as disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission.

Under the Pooled Patents Agreement, Illumina will have exclusive
worldwide rights to utilize the pooled intellectual property to
develop and sell in-vitro diagnostic kits for NIPT and to license
to third-party laboratories wishing to develop and sell their own
laboratory-developed NIPT tests under the collection of pooled
patents.  Sequenom maintains a non-exclusive right to sublicense
the intellectual property rights it acquired from Isis Innovation,
Ltd., to third-party laboratories for their own developed NIPT
tests.  In addition, Sequenom and Illumina will each have rights
to utilize all pooled patents to develop and sell their own
respective laboratory-developed NIPT tests.  Also as part of the
Pooled Patents Agreement, Illumina gains access to samples and
applicable study protocols from Sequenom's clinical studies for
high and low risk pregnancies, as registered with
clinicaltrials.gov.  Illumina will make an aggregate $50 million
upfront payment to Sequenom as part of the overall agreement, as
well as pay royalties to Sequenom for sales of in-vitro diagnostic
kits for NIPT.  Both parties and their sublicensees will pay a
per-test fee into the pool for laboratory-developed NIPT tests,
which will be shared between Sequenom and Illumina.  Illumina has
agreed to minimum yearly payments to Sequenom under the pool
through 2020 covering both IVD royalties and Sequenom's share of
the collected test fees.  The Pooled Patents Agreement will remain
in effect until the date of expiration of the last to expire
pooled patent.  Neither party may terminate the Pooled Patents
Agreement except by mutual written agreement of the parties.

Concurrently with the execution of the Pooled Patents Agreement,
Sequenom, Illumina, the Sequenom Center for Molecular Medicine,
LLC, and Verinata Health, Inc., entered into a Settlement
Agreement, pursuant to which the parties will settle certain
claims and release the other parties from certain liability.  The
parties will dismiss the U.S. District Court litigation where
Verinata has asserted infringement of U.S. Patent Nos. 7,888,017,
8,008,018 and 8,195,415 (the "'415 Patent") against Sequenom, and
Sequenom will not appeal the U.S. Patent Trial and Appeal Board's
decision on the inter partes review of the '415 Patent.  The U.S.
Federal Circuit appeal of the litigation where Sequenom has
asserted infringement of U.S. Patent No. 6,258,540 against
Verinata, Ariosa Diagnostics, Inc., Natera, Inc., and DNA
Diagnostics Center, Inc. will continue, without further
cooperation from Verinata, but following its conclusion, Sequenom
and Verinata will settle and dismiss any remaining claims that
were not previously dismissed.  Each party to the Settlement
Agreement will release the other parties and their affiliates,
licensors, licensees, developers and certain purchasers from all
claims for the exploitation, on or before the effective date of
the Settlement Agreement, of NIPT products and services, as well
as any other claims based on acts relating to the subject matter
of the dismissed disputes or that could have been brought in
response thereto.  None of the parties made any admission of
liability in entering into these arrangements.  No party will
challenge the pooled patents subject to the Pooled Patents
Agreement.

In connection with entering into the Pooled Patents Agreement,
Sequenom also concurrently entered into an Amended and Restated
Sale and Supply Agreement with Illumina, pursuant to which
Sequenom and its affiliates will purchase various products from
Illumina, which they will be able to use for NIPT as well as for
other clinical and research uses.  The Supply Agreement amends,
restates and replaces Sequenom's prior Sale and Supply Agreement
with Illumina dated July 8, 2011, as amended.  Subject to certain
conditions and limitations, including an annual purchase minimum,
under the Supply Agreement Sequenom and its affiliates will
receive pricing no less favorable than that offered by Illumina to
similar customers in the United States.  Each month, Sequenom must
provide non-binding rolling 12-month forecasts, and submit a
single purchase order with at least a 90 day lead time for
delivery.  The Supply Agreement has a term of five years;
provided, however, that it may be earlier terminated (i) in the
event that either party breaches a material provision and fails to
cure such breach within thirty days after receiving written notice
of the breach, or (ii) by written notice if the other party
becomes the subject of a voluntary or involuntary petition in
bankruptcy or any proceeding relating to insolvency, receivership,
liquidation or composition for the benefit of creditors that is
not dismissed within 60 days.

In accordance with the Pooled Patents Agreement, Sequenom and the
Chinese University of Hong Kong entered into an agreement,
pursuant to which certain License Agreements by and between
Sequenom and CUHK, dated Sept. 16, 2008, May 3, 2011, and May 3,
2011, were amended and assigned to Illumina for inclusion in the
patent pool subject to the Pooled Patents Agreement.  Illumina
will be responsible for paying all royalties to CUHK under the
CUHK License Agreements, and will grant Sequenom a sublicense
under each agreement to exploit laboratory-developed NIPT tests in
accordance with the Pooled Patents Agreement.  In consideration,
Sequenom will pay CUHK a one-time $6.15 million upfront payment
and additional royalties of varying percentages through 2019.  The
CUHK Agreement will remain in effect until the expiration of the
CUHK License Agreements.

                           About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom incurred a net loss of $107.40 million in 2013, a net
loss of $117.02 million in 2012 and a net loss of $74.13
million in 2011.

As of Sept. 30, 2014, the Company had $134.55 million in total
assets, $186.45 million in total liabilities and a $51.89 million
total stockholders' deficit.


SEVEN COUNTIES: To Seek Confirmation of Reorganization Plan Jan. 6
------------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Jan. 6, 2015, at
10:00 a.m., to consider the confirmation of Seven Counties
Services, Inc.'s Chapter 11 Plan of Reorganization.

The Court has overruled objections to the Disclosure Statement
including those filed by Kentucky Employees Retirement System and
the Board of Trustees of Kentucky Retirement Systems.

Ballots accepting or rejecting the Plan are due two business days
prior to the date of the confirmation hearing.  Any objections to
confirmation of the Debtor's Plan will be filed by Dec. 30, 2014.

According to the Disclosure Statement, the Plan contemplates the
reorganization of existing debt and continuation of the Debtor's
normal business operations.  The primary objectives of the Plan
are to: (a) maximize the value of the ultimate recoveries to all
creditor groups on a fair and equitable basis; and (b) settle,
compromise, or otherwise dispose of certain claims and interests
on terms that the Debtor believes to be fair and reasonable and in
the best interests of the Debtor's estate and its creditors.

Upon entry of the confirmation order, the Debtor will continue to
operate its business and manage its assets, which will generate
income projected to be sufficient for the Debtor to meet its
ongoing expenses and obligations contemplated under the Plan.

A copy of the Disclosure Statement is available for free at

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

The Debtor is represented by:

         David M. Cantor, Esq.
         Paul J. Hershberg, Esq.
         Charity B. Neukomm, Esq.
         James E. Mcghee III, Esq.
         Tyler R. Yeager, Esq.
         SEILLER WATERMAN LLC
         Meidinger Tower ? 22nd Floor
         462 S. Fourth Street
         Louisville, KY 40202
         Tel: (502) 584-7400
         Fax: (502) 583-2100
         E-mail : cantor@derbycitylaw.com
                  hershberg@derbycitylaw.com
                  neukomm@derbycitylaw.com
                  mcghee@derbycitylaw.com
                  yeager@derbycitylaw.com

                     About Seven Counties

Seven Counties Services Inc., a not-for-profit behavioral
services provider from Louisville, Kentucky, filed for Chapter 11
protection (Bankr. W.D. Ky. Case No. 13-31442) on April 4, 2013.
The agency generates more than $100 million a year in revenue and
employs a staff of 1,400 providing services at 21 locations and
120 schools and community centers.

The petition was signed by Anthony M. Zipple as president/CEO.
The Debtor scheduled assets of $45,603,716 and scheduled
liabilities of $232,598,880.

Judge Joan A. Lloyd presides over the case.  David M. Cantor,
Esq., Neil C. Bordy, Esq., Charity B. Neukomm, Esq., Tyler R.
Yeager, Esq., and James E. McGhee III, Esq., at SEILLER WATERMAN
LLC, serve as counsel to the Debtor.  Bingham Greenebaum Doll LLP
and Wyatt, Tarrant & Combs LLP have been retained by the Debtor as
special counsel.  Hall, Render, Killian, Heath & Lyman, PLLC, is
special counsel to represent and advise it in the implementation
of its new software system.

Peritus Public Relations, LLC, has been tapped to provide public
relations and public affairs support in Kentucky.

Fifth Third Bank, the cash collateral lender, is represented by
Brian H. Meldrum, Esq., at STITES & HARBISON PLLC; and Robert C.
Goodrich, Jr., Esq., at STITES & HARBISON PLLC.


SILVERSUN TECHNOLOGIES: To Sell Class A Shares
----------------------------------------------
SilverSun Technologies, Inc. is offering a yet to be determined
shares of its Class A Common Stock, according to a Form S-1
registration statement filed with the U.S. Securities and Exchange
Commission.

Currently, the Company's Class A Common Stock is quoted on the
OTCQB Marketplace operated by the OTC Markets Group, under the
symbol "SSNT".

In conjunction with this offering, the Company has applied to list
its Class A Common Stock on the NASDAQ Capital Market under the
symbol "SSNT".  No assurance can be given that the Company's
application will be approved.  The last reported sale price of the
Company's Class A Common Stock on the OTCQB on Dec. 2, 2014, was
$0.20 per share.

A full-text copy of the preliminary prospectus is available at:

                        http://is.gd/SP1e4r

                          About SilverSun

Livingston, N.J.-based SilverSun Technologies, Inc., formerly
known as Trey Resources, Inc., focuses on the business software
and information technology consulting market, and is looking to
acquire other companies in this industry.  SWK Technologies, Inc.,
the Company's subsidiary and the surviving company from the
acquisition and merger with SWK, Inc., is a New Jersey-based
information technology company, value added reseller, and master
developer of licensed accounting and financial software published
by Sage Software.  SWK  Technologies also publishes its own
proprietary supply-chain software, the Electronic Data Interchange
(EDI) solution "MAPADOC."  SWK Technologies sells services and
products to various end users, manufacturers, wholesalers and
distribution industry clients located throughout the United
States, along with network services provided by the Company.

Silversun Technologies posted net income of $322,548 on $17.40
million of net total revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $1.23 million on $13.17 million of net
total revenues for the year ended Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $5.12 million in total
assets, $4.89 million in total liabilities and $238,410 in total
stockholders' equity.


SIRIUS INFORMATION: Bankruptcy Leaves Trail of Unpaid Journalists
-----------------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
the bankruptcy of Sirius Information, which owns Bulldog Reporter,
an organization that coached public-relations professionals on how
to master crisis communications, has left many journalists unpaid
after it laid off virtually all of its staff and shut down
operations.

According to the report, Bulldog Reporter, which has produced
media directories, a daily online newsletter, webinars, live
conferences and awards programs, has liabilities of less than $1
million and assets of $178,220.

Oakland, Calif.-based Sirius Information, Inc., which operates
under the Bulldog Reporter and PR University brands and which
provided training and services for public relations professionals,
sought protection under Chapter 11 of the Bankruptcy Code on Nov.
10, 2014 (Bankr. N.D. Cal., Case No. 14-44504).  The Debtor is
represented by Chris D. Kuhner, Esq., at Kornfield, Nyberg, Bendes
and Kuhner.


STOCKTON, CA: Fights Franklin Bid to Reduce $545MM Retiree Claims
-----------------------------------------------------------------
Law360 reported that the city of Stockton, California, urged a
bankruptcy judge to reject a call from creditor Franklin Templeton
Investments to trim retiree health benefits claims allowed under
the city's Chapter 9 exit plan by more than $280 million, saying
that there is no legal basis for a reduction.

The report recalled that Franklin has asked the court to revise
the amount of allowed retiree claims from approximately $545
million to the present value of $261.9 million, a move the city
contends is not required under the Bankruptcy Code.

                     About Stockton, Calif.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.

The Troubled Company Reporter, on Oct. 31, 2014, reported that
Judge Christopher Klein confirmed the debt-adjustment plan by the
city of Stockton, California, rejecting arguments that it unfairly
discriminated among creditors by chopping a mutual fund's recovery
to near zero while shielding city retirees from any impairment at
all.

                           *     *     *

The Troubled Company Reporter, on Sep. 26, 2014, reported that
Moody's Investors Service has affirmed the long-term ratings of
the city of Stockton's (CA) water and sewer enterprises' debts at
Ba1. Moody's have also changed the outlook on the city's water
bond rating to developing from stable, while the developing
outlook on the sewer system's rating remains the same.

The TCR, on Nov. 10, 2014, reported that Moody's Investors Service
has upgraded to Ba3 from Caa3 the City of Stockton's (CA) series
2006 lease revenue bonds and affirmed the city's 2007 pension
obligation at Ca. Moody's have removed the developing outlook from
the Series 2006 bonds and Moody's have removed the negative
outlook from the Series 2007 bonds.

The TCR, on Nov. 14, 2014, reported that Standard & Poor's Ratings
Services raised its long-term rating and underlying rating (SPUR)
to 'B-' from 'CCC' on the Stockton Public Financing Authority,
Calif.'s series 2003A and 2003B certificates of participation
(COPs) and its SPUR to 'B-' from 'CCC' on the authority's series
2006A lease revenue refunding bonds.  Standard & Poor's also
affirmed its 'CC' SPUR on Stockton Redevelopment Agency's series
2004 (arena project) revenue bonds.  All series are appropriation
obligations of Stockton.  The outlook on the series 2003A and
2003B COP long-term rating and SPUR and on the 2006A lease revenue
refunding bond SPUR is stable, and the outlook on the series 2004
revenue bond rating (arena project) is negative.


SUSSEX RANDOLPH: Case Summary & 11 Unsecured Creditors
------------------------------------------------------
Debtor: Sussex Randolph Building, L.P.
        237 South Street
        Morristown, NJ 07962

Case No.: 14-34505

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 3, 2014

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

Judge: Hon. Michael B. Kaplan

Debtor's Counsel: Morris S. Bauer, Esq.
                  NORRIS, MCLAUGHLIN & MARCUS, PA
                  PO Box 5933
                  Bridgewater, NJ 08807-5933
                  Tel: (908) 722-0700
                  Fax: 908-722-0755
                  Email: msbauer@nmmlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lawrence S. Berger, Esq., president of
general partner.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb14-34505.pdf


TENET HEALTHCARE: Names Dr. Freda C. Lewis-Hall as Director
-----------------------------------------------------------
The board of directors of Tenet Healthcare Corporation has
appointed Freda C. Lewis-Hall, M.D., executive vice president and
chief medical officer of Pfizer Inc., as a new independent
director.  Dr. Lewis-Hall becomes the Board's tenth member.

Dr. Lewis-Hall, 59, joined Pfizer as chief medical officer in
2009.  In her role, she leads Pfizer Medical, the division
responsible for ensuring the safe, effective and appropriate use
of Pfizer's products.  She directs teams at Pfizer that oversee
the quality and conduct of Pfizer's clinical trials, provide
medical information and clinical data, and manage collaborative
work on patient-centered drug development and outcomes research,
public-private research partnerships, and global public health
campaigns.  She is a Distinguished Fellow of the American
Psychiatric Association, and serves as a member of the Board of
Governors for the Patient-Centered Outcomes Research Institute and
of the National Center for Advancing Translational Sciences
Advisory Council of the National Institutes of Health.  Prior to
joining the biopharmaceutical industry, she served as vice
chairperson and associate professor of the Department of
Psychiatry at Howard University College of Medicine and was an
advisor to the National Institute of Mental Health.

"We're pleased to have Freda Lewis-Hall join our board," said
Tenet's non-executive chairman Edward A. Kangas.  "She has built
an exceptional reputation and track record of accomplishments
during a distinguished medical and business career.  Tenet's board
and management will benefit from her perspective and I look
forward to her many contributions."

Tenet President and CEO Trevor Fetter said, "Our company and
management team are privileged to have a strong board filled with
distinguished leaders reflecting a wide-range of experiences,
skills and viewpoints.  I am pleased and honored that Dr. Lewis-
Hall has joined the board and will add her unique insight to our
efforts to improve healthcare delivery."

                            About Tenet

Tenet Healthcare Corporation is a national, diversified healthcare
services company with more than 105,000 employees united around a
common mission: to help people live happier, healthier lives.  The
company operates 80 hospitals, more than 190 outpatient centers,
six health plans and Conifer Health Solutions, a leading provider
of healthcare business process services in the areas of revenue
cycle management, value-based care and patient communications.
For more information, please visit www.tenethealth.com.

Tenet reported a net loss attributable to common shareholders of
$134 million compared to net income attributable to common
shareholders of $141 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $17.31
billion in total assets, $16.05 billion in total liabilities, $396
million in redeemable noncontrolling interests in equity of
consolidated subsidiaries, and $866 million in total equity.

                             *    *    *

Tenet carries a 'B' IDR from Fitch Ratings, B corporate credit
rating from Standard & Poor's Ratings Services and B1 Corporate
Family Rating from Moody's Investors Service.


TITAN ENERGY: Unit Repays $1.4 Million Harborcove Facility
----------------------------------------------------------
Steller Energy Services (doing business as Titan Energy Systems),
a wholly-owned subsidiary of Titan Energy Worldwide, Inc., repaid
$1,435,449 to Harborcove Financial Services LLC in full
satisfaction of the total outstanding principal, all accrued and
unpaid interest thereon and all other fees owed to Harborcove
under an accounts receivable facility, according to a regulatory
filing with the U.S. Securities and Exchange Commission.

Upon payment in full of the Payoff Amount, (i) all Harborcove
liens on and security interests in the assets of Stellar and Grove
Power, Inc., a wholly-owned subsidiary of the Company, were
released, discharged and terminated, and (ii) Stellar, and its
respective designees were authorized, at Stellar's sole cost and
expense, to file such Uniform Commercial Code amendments and
termination statements as they may deem appropriate or necessary
to terminate any financing statements on record naming Stellar,
Grove Power or any of their or the Company's affiliates, as
debtor, and Harborcove, as secured party.

                         About Titan Energy

New Hudson, Mich.-based Titan Energy Worldwide, Inc., is a
provider of onsite power generation, energy management and energy
efficiency products and services.

Titan Energy reported net profit of $108,215 on $21.89 million of
net sales for the year ended Dec. 31, 2013, as compared with a net
loss of $1.65 million on $19.15 million of net sales during the
prior year.

The Company's balance sheet at March 31, 2014, showed $6.15
million in total assets, $10.30 million in total liabilities and a
$4.15 million total stockholders' deficit.

"The Company believes it can be profitable for the year 2014 as
some of the factors that created the loss were due to extreme
weather conditions and Management believes it has put into place
new processes and procedures that should mitigate the impact of
these types of conditions in the future.  In addition, the Company
is in the process of restructuring its balance sheet.  If
successful, this should allow the Company to gain access to
capital at a reduced rate.  However, the accumulated deficit and
the notes that are in default raise substantial doubt as to the
Company's ability to continue as a going concern," the Company
stated in the Form 10-Q for the period ended March 31, 2014.


TITAN ENERGY: PTES Acquisition Takes Controlling Interest
---------------------------------------------------------
Titan Energy Worldwide, Inc., on Dec. 2, 2014, entered into a
Series A-1 Convertible Preferred Stock Purchase Agreement with
PTES Acquisition Corp., a wholly-owned subsidiary of Pioneer Power
Solutions, Inc., pursuant to which the Company issued and sold 100
shares of its newly designated Series A-1 Convertible Preferred
Stock, in exchange for aggregate consideration of $1,000,000.  The
Series A-1 Shares are convertible into 1,250,000,000 shares of the
Company's common stock, $0.0001 par value per share, subject to
certain adjustments, and represent approximately 72.4% of the
Company's voting stock.  As a condition to the Series A-1 Stock
Sale, Jeffrey W. Flannery, the current sole member of the
Company's Board of Directors, agreed to resign from the Board,
effective on or around Dec. 13, 2014, and appointed Nathan J.
Mazurek, the chief executive officer of Pioneer, to serve as the
new sole director of the Company, on or around Dec. 13, 2014.

Concurrently with the Series A-1 Stock Sale, PTES also purchased
176 outstanding shares of the Company's Series D Convertible
Preferred Stock from two investors and entered into binding
purchase agreements with certain other individual holders of the
Company's outstanding shares of Series D Convertible Preferred
Stock, pursuant to which PTES agreed to purchase a total of 107.5
additional outstanding shares of the Company's Series D
Convertible Preferred Stock.  The Acquired Series D Shares
beneficially owned by PTES pursuant to the foregoing transactions
are convertible into a total of 387,709,734 shares of the
Company's Common Stock and collectively would represent
approximately 22.4% of the Company's voting stock.

As a result of the transactions contemplated by the Series A-1
Stock Sale and the Series D Acquisition, PTES and Pioneer, as the
sole stockholder of PTES, beneficially own a controlling interest
in the Company.

                   Loan and Security Agreement

On Dec. 2, 2014, the Company entered into a Loan and Security
Agreement with PTES and certain subsidiaries of the Company as
guarantors, pursuant to which PTES made a term loan to the Company
in the aggregate amount of $2,900,000 to be used to pay off the
Company's existing factoring line of indebtedness and certain
trade payables and to provide funds for working capital and
general corporate purposes in the ordinary course of business.
Under the terms of the Loan Agreement, PTES, in its sole
discretion, may also make additional term loans to the Company.
The source of funds for the Loan was from a $5,000,000 term loan
facility under Pioneer's existing Credit Agreement, as amended on
Dec. 2, 2014.  The obligations of the Company and the Subsidiary
Guarantors under the Loan Agreement are secured by a first
priority security interest in all of the assets of the Company and
the Subsidiary Guarantors, ranked senior to all existing and
future classes of the Company's debt and guaranteed by the
Subsidiary Guarantors.  Interest on the Loan accrues at a rate
equal to 10% per annum, payable on a quarterly basis through the
scheduled maturity date on Dec. 2, 2019.  The Loan Agreement
provides for certain standard Events of Default.

                     Joinder to Pioneer Credit
                 Agreement and Security Agreement

In connection with the Acquisition and transactions contemplated
by the Loan Agreement, on Dec. 2, 2014, the Company and each of
its subsidiaries entered to a Fifth Amendment to the Credit
Agreement, dated June 28, 2013, among Pioneer, its wholly-owned
subsidiaries and the Bank of Montreal, Chicago Branch., as lender.
Among other things, the Fifth Amendment to the Credit Agreement,
added the Company and each of its subsidiaries as loan parties and
provided Pioneer a new term loan facility in the amount of
$5,000,000.  Pursuant to the terms of the Credit Agreement, the
principal amount of the term loan facility amortizes over five
years and is payable in installments on the last day of each
March, June, September, and December in each year, commencing with
the calendar quarter ending March 31, 2015, and the remaining
principal amount becomes due and payable at maturity.  Borrowings
under the term loan facility bear interest, at Pioneer's option,
at the lender's prime rate plus 1.25% per annum on U.S. prime rate
loans, or an adjusted LIBOR rate plus 2.50% per annum on
Eurodollar loans.  Upon the closing of the Transaction, the
Company and the Company's wholly-owned subsidiaries became
guarantors of Pioneer's obligations under the Credit Agreement and
granted the lender a security interest in substantially all of
their assets.

Following the consummation of the Transaction, PTES has the
ability to elect all of the members of the Board, and through
those directors, controls the appointment of the Company's
officers.  Pioneer is the sole shareholder of PTES and therefore
deemed to beneficially own all securities owned by PTES.  On
Dec. 2, 2014, immediately upon the closing of the Transaction, Mr.
Flannery, the Company's chairman, chief executive officer, chief
operating officer and chief financial officer resigned from all
offices and Nathan Mazurek, the chief executive officer of
Pioneer, was appointed to serve as the new chief executive officer
and president of the Company, and Andrew Minkow, the chief
financial officer of Pioneer, was appointed to serve as the new
chief financial officer, vice president, secretary and treasurer
of the Company.  In addition, in connection with the Series A-1
Purchase Agreement, Mr. Flannery, the Company's sole director,
agreed to resign from the Board, effective on or around Dec. 13,
2014, and appointed Mr. Mazurek to serve as the new sole director
of the Company, on or around Dec. 13, 2014.

As a result of the closing of the Transaction, PTES acquired
beneficial ownership of approximately 94.8% of the Company's
voting stock.  The source of cash funds for PTES's acquisition of
a controlling interest in the Company was from Pioneer's revolving
and term loan facilities under the Credit Agreement.

               Departure of Officers and Directors

On Dec. 2, 2014, immediately upon the closing of the Transaction,
Mr. Flannery resigned as chairman, chief executive officer, chief
operating offer, chief financial officer and all other offices
held with the Company, effective immediately.  In addition,
pursuant to the terms of the Transaction, Mr. Flannery agreed to
resign as the sole director of the Company, effective on or around
Dec. 13, 2014.  On Dec. 2, 2014, Mr. Flannery submitted, and the
Company accepted, his resignation from the Board.  Mr. Flannery
did not resign because of a disagreement with the Company or on
any other matter relating to its operations, policies or
practices.

On Dec. 2, 2014, the Company appointed Mr. Mazurek to serve as the
new president, chief executive officer and chairman of the Board,
and Mr. Minkow to serve as the new chief financial officer, vice
president, secretary and treasurer of the Company, effective as of
the same date.  In addition, in accordance with the terms of the
Transactions, Mr. Mazurek was appointed to serve as the sole
director of the Company, effective immediately upon the
resignation of Mr. Flannery on or around Dec. 13, 2014.

Upon the effectiveness of each of their respective appointments as
an executive officer or the sole director of the Company, Mr.
Mazurek and Mr. Minkow will not beneficially own any equity
securities of the Company or any rights to acquire any such
securities of the Company.

Additional information is available for free at:

                         http://is.gd/bfh1Bm

                         About Titan Energy

New Hudson, Mich.-based Titan Energy Worldwide, Inc., is a
provider of onsite power generation, energy management and energy
efficiency products and services.

Titan Energy reported net profit of $108,215 on $21.89 million of
net sales for the year ended Dec. 31, 2013, as compared with a net
loss of $1.65 million on $19.15 million of net sales during the
prior year.

The Company's balance sheet at March 31, 2014, showed $6.15
million in total assets, $10.30 million in total liabilities and a
$4.15 million total stockholders' deficit.

"The Company believes it can be profitable for the year 2014 as
some of the factors that created the loss were due to extreme
weather conditions and Management believes it has put into place
new processes and procedures that should mitigate the impact of
these types of conditions in the future.  In addition, the Company
is in the process of restructuring its balance sheet.  If
successful, this should allow the Company to gain access to
capital at a reduced rate.  However, the accumulated deficit and
the notes that are in default raise substantial doubt as to the
Company's ability to continue as a going concern," the Company
stated in the Form 10-Q for the period ended March 31, 2014.


TOUCHPOINT METRICS: Reports $39K Net Income in Sept. 30 Quarter
---------------------------------------------------------------
Touchpoint Metrics, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing
net income of $39,900 on $599,000 of total revenue for the three
months ended Sept. 30, 2014, compared with a net loss of $210,000
on $153,000 of total revenue for the same period in the prior
year.

The Company's balance sheet at Sept. 30, 2014, showed $1.11
million in total assets, $262,000 in total liabilities and total
stockholders' equity of $846,000.

For the nine months ended Sept. 30, 2014, the Company had net
income of $52,950.  In addition, the Company had a net loss of
$716,000 for the year ended Dec. 31, 2013.  These circumstances
result in substantial doubt as to the Company's ability to
continue as a going concern, according to the regulatory filing.

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

                       http://is.gd/pDX3ml

San Francisco, Calif.-based Touchpoint Metrics, Inc., is engaged
in the business of developing and delivering technology-enabled
products and services that improve customer experience management
capabilities for corporations.


TRUMP ENTERTAINMENT: Seeks DGE's Okay to Shut Down Taj Mahal
------------------------------------------------------------
Wayne Parry at the Associated Press reports that Trump
Entertainment Resorts Inc. has sought permission from the state
Division of Gaming Enforcement last week to shut down the Trump
Taj Mahal on Dec. 12, 2014.

According to The AP, Trump Entertainment said that it is closing
its newest hotel tower, Chairman Tower, and that it is no longer
issuing credit as it prepares for the shutdown.

                 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.


ULTURA INC: Committee Retains EisnerAmper as Financial Advisor
--------------------------------------------------------------
EisnerAmper LLP has been retained as Financial Advisor by the
Unsecured Creditors Committee in the Ultura Inc. case.
EisnerAmper will work with Committee Counsel at law firms Sills
Cummis & Gross P.C., and Potter Anderson & Corroon LLP to maximize
the return to General Unsecured Creditors in this case.  The
EisnerAmper team will be led by Partners Allen Wilen and Edward
Phillips.

Ultura Inc., a developer of water-treatment products, filed a
Chapter 11 petition on Oct. 20 in Delaware to sell its membrane
business to pre-bankruptcy lender UAC Finance Inc. in exchange for
about $25 million of debt, absent a better bid at auction.  The
Case Number is 14-12382KG.


UNIVERSITY GENERAL: Hires NexBank to Sell Dallas Hospital
---------------------------------------------------------
University General Health System, Inc., has engaged NexBank
Capital Advisors to act as the exclusive financial advisor and
investment banker regarding the sale, assumption, merger or other
financial transactions related to University General Hospital -
Dallas.  The Company has entertained a number of potential
acquirers and joint venture partners and believes that by engaging
NCA, it can streamline and expedite the process more effectively.
NCA will evaluate potential acquirers or investors and structure
and negotiate the transaction.  The Company has also begun
rationalizing its operations at UGH - Dallas in order to reduce
operating costs during the sale process.

"In December 2012, University General Health System purchased
South Hampton Hospital in Dallas, renamed the facility UGH -
Dallas, and immediately began investing the necessary capital to
recreate a hospital that the community could be proud of," stated
Hassan Chahadeh, M.D., the Company's Chairman and chief executive
officer.  "South Hampton Hospital had experienced incredible
challenges over the last two decades under the guidance of over 25
different management teams."

"During the past two years, we have invested nearly $20 million in
capital expenditures, providing working capital and creating new
programs for the hospital and the surrounding community.  Some of
these initiatives have included a geriatric psychiatric outpatient
program, a breast center, diabetes screening and treatment, flu
shots within the church community, scholarships for graduates
seeking to enter healthcare, wound care, and expanded outreach
within the community that included clinics, outpatient departments
and surgical centers.  We recruited some amazing clinical and
professional staff, while bringing back to the hospital surgeons,
specialists and other physicians to assist with our goal of
improving the quality of patient care across the board.  We
obtained Joint Commission Accreditation in late October 2014,
which represented a major milestone of achievement for our
leadership.  The hospital today is dramatically improved relative
to the facility we purchased two years ago.  The decision to sell
or otherwise dispose of UGH - Dallas has been a very difficult
one; however, without adequate capital we must act in accordance
with what is best for the community and for the Company,"
concluded Chahadeh.

                     About University General

University General Health System, Inc., located in Houston, Texas,
is a diversified, integrated multi-specialty health care provider
that delivers concierge physician- and patient-oriented services.
UGHS currently operates one hospital and two ambulatory surgical
centers in the Houston area.  It also owns a revenue management
company, a hospitality service provider and facility management
company, three senior living facilities and manages six senior
living facilities.

University General reported a net loss attributable to common
shareholders of $35.70 million on $163.98 million of total
revenues for the year ended Dec. 31, 2013, as compared with a net
loss attributable to common shareholders of $3.97 million on
$113.22 million of total revenues for the year ended Dec. 31,
2012.

As of Dec. 31, 2013, the Company had $183.26 million in total
assets, $186.91 million in total liabilities, $2.97 million in
series C convertible preferred stock, and a $6.61 million total
deficit.

Moss, Krusick & Associates, LLC, in Winter Park, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has negative working capital and
relative low levels of cash and cash equivalents.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern, the auditors said.


WATERFORD SPEEDBOWL: Creditor Wants OK on Sale Price Reconsidered
-----------------------------------------------------------------
Shawn Courchesne at Racedayct.com reports that creditor Ed
DeMuzzio filed a motion on Wednesday asking the court to
reconsider the approval of the sale price set at the foreclosure
auction of Waterford Speedbowl.

Mr. DeMuzzio, says Racedayct.com, is at risk of losing $250,000,
which includes about $110,000 invested in the property and about
$140,000 in accrued interest, if the court approves the sale
price.  According to Racedayct.com, Mr. DeMuzzio had been facing a
Thursday deadline to file a formal appeal of the approval of the
sale price set at the Oct. 18 foreclosure auction, wherein Bruce
Bemer was the high bidder, at $1.75 million.

Racedayct.com relates that the property had recently been valued
at $3 million and was being advertised on the market for sale with
an asking price of $3.3 million prior to the auction.  Mr.
DeMuzzio claimd that there was collusion between creditors Rocco
Arbitell, Peter Borelli, Theodore Parker and Shawn Parker to keep
the bidding price low for the auction, Racedayct.com states.  Mr.
DeMuzzio, says the report, argued that the property should have
been marketed better to attract a higher bid.

Racedayct.com quoted Mr. DeMuzzio's attorney, Michael Bonnano, as
saying, "We're going to file what is called a motion to reconsider
and ask that the judge reconsider or reexamine his earlier ruling
with regard to our motion for our hearing to set aside a new sale
date.  That is not an appeal.  It is a practice book provision
that allows the court to do exactly what it says, which is
reconsider the earlier ruling.  It can be withdrawn at anytime,
just like the appeal can, but it's something that tolls the appeal
the period.  That's the intent at this time, to ask the court to
reconsider its earlier decision."

Racedayct.com relates that a formal appeal of the sale approval
could delay transfer of the property from owner Terry Eames to Mr.
Bemer for more than a year and could put the 2015 racing season at
the track in jeopardy.

Mr. Bonnano had said his client was in the midst of negotiations
for a possible resolution of issues, racedayct.com reports.

                    About Waterford Speedbowl

Waterford Speedbowl -- http://www.speedbowl.com/-- operates a
racing track.

As reported by the Troubled Company Reporter on Jan. 27, 2012,
Shawn Courchesne at blogs.courant.com reported that a court in New
London, Connecticut, approved the debt reorganization plan filed
by Waterford Speedbowl management.


YMCA MILWAUKEE: Chapter 11 Plan Gets Unsecured Creditors' Backing
-----------------------------------------------------------------
Rich Kirchen at Milwaukee Business Journal reports that YMCA of
Metropolitan Milwaukee's proposed Chapter 11 plan has won the
support of the unsecured creditors, who are owed almost $1.4
million.  Business Journal relates that under the Plan, these
creditors will receive at least 90 cents on the dollar.

"We support the plan.  We haven't signed off on the verbiage.  We
support it in principle," Business Journal quoted Maria Sawczuk,
an attorney for the unsecured creditors, as saying.

As reported by the Troubled Company Reporter on Dec. 3, 2014, the
Debtor filed the Plan on Nov. 30, 2014, which proposes, among
other things, the sale of the Debtor's properties including the
Young Leaders Academy, the transfer of programs to organizations
better-equipped to run them long-term, and the rebuilding of the
leadership team.

                        About YMCA Milwaukee

The Young Men's Christian Association of Metropolitan Milwaukee,
Inc., and affiliate, YMCA Youth Leadership Academy, Inc., filed
voluntary Chapter 11 bankruptcy petitions (Bankr. E.D. Wis. Case
Nos. 14-27174 and 14-27175) in Milwaukee, on June 4, 2014.

YMCA Milwaukee, which has more than 100,000 members using its
centers and camps, plans to sell a majority of its owned real
estate to help pay down $29 million in debt.

YMCA Milwaukee estimated $10 million to $50 million in both assets
and liabilities.  YMCA Academy estimated $100,000 to $500,000 in
both assets and liabilities.  The formal schedules of assets and
liabilities are due June 18, 2014.

The cases are assigned to Judge Susan V. Kelley.

The Debtors have tapped Olivier H. Reiher, Esq., and Mark L. Metz,
Esq., at Leverson & Metz, S.C., in Milwaukee, as counsel.


* U.S. Bankruptcy Filings Drop 16% in November
----------------------------------------------
Data provided to the American Bankruptcy Institute by Epiq Systems
Inc. show that U.S. bankruptcy filings have declined 16% to 62,403
in November 2014, from 74,070 in November 2013.

ACA International says that due to low consumer spending and
interest rates as well as high filing costs, this year could yield
the lowest number of bankruptcy filings in seven years.

According to ACA, commercial filings dropped by 27% to 2,248 in
November 2014, from 3,085 in November 2013, while noncommercial
filings declined 15% to 60,155 in November 2014, from 70,985 in
November 2013.  The ABI press release says that there were 296
commercial Chapter 11 filings in November 2014 -- a 39% decrease
from the 487 filings in November 2013.

ACA quoted ABI Executive Director Samuel J. Gerdano as saying,
"Bankruptcies will continue to recede amidst tepid consumer
spending, sustained low interest rates and high costs to file for
both consumers and businesses.  We are on pace this year for
bankruptcies to be well under one million filings, the lowest
total since 2007."

Bankruptcy filings in November 2014 were also 21% lower than the
78,977 recorded in October 2014.  According to the ABI press
release, noncommercial filings dropped 21% in November 2014 from
76,122 in October 2014, and commercial filings declined 21% from
2,855.  ACA relates that the November commercial Chapter 11
filings were 24% lower than the 387 filings in October.

ACA relates that states with the highest per capita filing rate
(total filings per 1,000 population) through the first 11 months
of 2014 were: Tennessee (6.22); Alabama (5.34); Georgia (5.30);
Utah (4.93) and Illinois (4.72).


* Investor Group Reaches $1.55B Deal to Refinance Plaza Hotel Debt
------------------------------------------------------------------
Craig Karmin, writing for The Wall Street Journal, reported that a
founding member of the Fugees, a New York sports agent, a Saudi
prince and an Indian company trying to spring its chairman from
jail are all part of the saga to control New York's storied Plaza
Hotel.  According to the report, in the latest development, a
group of investors has agreed to lend $1.55 billion to the owner
of the Plaza, a move aimed at gaining control of the landmark
property.


* Ch. 11 Pros Foresee Refurbishing of Securities Safe Harbor
------------------------------------------------------------
Law360 reported that safe harbor laws designed to prevent
bankruptcy trustees from disrupting the securities markets deserve
a fresh look in Congress in response to complaints that they
invite moral hazard by safeguarding fraudulent transactions,
experts said at a panel in New York.

According to the report, at a Beard Group conference in Manhattan,
a panel of bankers and lawyers grappled with the tension between
market stability and creditor protection in Section 546(e) of the
U.S. Bankruptcy Code, which protects payments made in the course
of settled securities transactions from being clawed back.


* Christopher Samis & L. Katherine Good Join Whiteford Taylor
-------------------------------------------------------------
Christopher M. Samis and L. Katherine Good have joined Whiteford,
Taylor & Preston, LLP's Business Reorganizations and Bankruptcy
practice in Wilmington.  They come to the firm from Richards,
Layton & Finger's bankruptcy practice.  Together, they have 15
years of experience representing debtors, committees, lenders,
purchasers, and significant creditors before the Delaware
bankruptcy courts in sole and co-counsel roles in some of the
largest bankruptcy cases ever filed, working in one of the most
respected bankruptcy groups in Wilmington.

Martin T. Fletcher, Whiteford Taylor's Managing Partner, said,
"Chris and Katie bring with them great skills and experience,
allowing us to continue to grow our Wilmington office.  In
particular, Katie's Chapter 15 international bankruptcy expertise
will be a valuable addition to our team."

Mr. Samis said, "We are delighted to be joining Whiteford Taylor &
Preston.  The Whiteford team is comprised of responsive, dynamic
and capable attorneys that have exhibited the ability to rise to
any challenge time and time again.  The team, along with
Whiteford's progressive model and emphasis on efficient, unmatched
client service will allow me to serve my existing clients better
than ever before, while at the same time allowing my practice to
grow and flourish."

Mr. Samis, who joins the firm as a partner, graduated from
Villanova University School of Law in 2005 and is admitted in both
Delaware and Pennsylvania.  He has been recognized as a Rising
Star by Super Lawyers since 2013, and is AV-rated by Martindale-
Hubbell.  His practice is focused on corporate bankruptcy,
restructuring and other insolvency-related matters.  He represents
both debtors and creditors in Chapter 11 and Chapter 7 cases.

Mr. Samis can be reached at:

          WHITEFORD, TAYLOR & PRESTON, LLP
          The Renaissance Centre, Suite 500
          405 North King Street
          Wilmington, DE 19801-3700
          Tel: (302) 357-3266
          Mobile: (302) 245-5069
          Fax: (302) 357-3288
          E-mail: csamis@wtplaw.com

Ms. Good, who joins the firm as counsel, received her law degree
from Emory University School of Law in 2006, where she served as
the executive notes and comments editor of the Emory Bankruptcy
Development Journal.  She is admitted in both Delaware and
Pennsylvania, and focuses her practice on corporate bankruptcy and
restructuring.  Most recently, she was recognized by Chambers USA
this year as part of Richards, Layton?s top-band rating for
bankruptcy and was recognized as a Rising Star by Super Lawyers
for 2014.

Ms. Good can be reached at:

          WHITEFORD, TAYLOR & PRESTON, LLP
          The Renaissance Centre, Suite 500
          405 North King Street
          Wilmington, DE 19801-3700
          Tel: (302) 357-3265
          Fax: (302) 357-3281
          E-mail: kgood@wtplaw.com


* Preeminent Bankruptcy Attorney Jeffrey Sabin Joins Venable
------------------------------------------------------------
In a noteworthy expansion of its national bankruptcy practice,
Venable LLP welcomed Jeffrey Sabin as partner in the firm's New
York office. Mr. Sabin was previously co-head of the global
Financial Restructuring Group at Bingham McCutchen.

Mr. Sabin has substantial experience across the entire spectrum of
global and domestic insolvency work. He has represented debtors,
lenders, secured and unsecured creditor committees, boards of
directors, investors, acquirers and other stakeholders in Chapter
11 and Chapter 15 cases and out-of-court restructurings. He has
advised clients involved in numerous sectors including energy and
power, real estate, financial services, entertainment and
manufacturing, among others.

Mr. Sabin is a Fellow of the American College of Bankruptcy and a
former chair of the New York City Bar Association's Subcommittee
on Fraudulent Conveyance Law. He is consistently recognized by
peers and clients as a leader in his field.

At Venable, Mr. Sabin joins one of the country's premier
bankruptcy and creditor rights' practices. Venable has played a
lead part in several high-profile Chapter 11 cases of the past
decade, including the recovery of approximately $1 billion in
assets for creditors in the Enron bankruptcy. The firm was also
lead counsel to the secured lender group in the $16 billion
restructuring of debt in the General Growth Properties'
restructuring and lead lenders' counsel in the $7 billion Extended
Stay bankruptcy.

Venable's Bankruptcy Chair, and 2014 Law360 MVP Gregory Cross
says, "Jeff Sabin's accomplished track record in handling all
areas of bankruptcy and restructuring work -- across a wide span
of industries -- will be a significant asset to clients both in
the U.S. and globally."

Mr. Cross noted that many commentators are expecting an uptick in
defaults and insolvencies in the year ahead, as the flow of soft
money begins to slow and interest rates start to trend upward. "As
the business cycle continues to turn, and capital structures begin
to show signs of stress, we expect to see more restructuring work.
Having Jeff's experience and skillset as part of our group well
positions us to be a key player in New York's competitive market
for bankruptcy advisors."

"I am very pleased to be joining Venable and to practicing for
years to come with very talented lawyers, some of whom I have
known for many years," Mr. Sabin said. "Venable is an energetic
and entrepreneurial firm, and I look forward to assisting in the
growth and development of its restructuring practice in New York
and nationally."

In addition to his bankruptcy work, Mr. Sabin has been recognized
for his outstanding pro bono work. He was named as one of the
finalists for the 2007 National Public Justice Award for his role
in securing a precedent-setting ruling against FEMA on behalf of
the class of almost one million persons left homeless by Hurricane
Katrina.

Mr. Sabin received his J.D. from Boston College Law School and his
B.A. from Cornell University.

                        About Venable LLP

An American Lawyer Global 100 law firm, Venable serves corporate,
institutional, governmental, nonprofit and individual clients
throughout the U.S. and around the world. Headquartered in
Washington, DC, with offices in California, Maryland, New York,
Virginia and Delaware, Venable LLP lawyers and legislative
advisors represent domestic and global clients in all areas of
corporate and business law, and complex litigation. For more,
visit www.Venable.com.

Mr. Sabin may be reached at:

         Jeffrey S. Sabin, Esq.
         VENABLE LLP
         Rockefeller Center
         1270 Avenue of the Americas
         Twenty-Fourth Floor
         New York, NY 10020
         Tel: (212) 503-0672
         Fax: (212) 307-5598
         E-mail: jssabin@Venable.com


* ABI's Commission to Study the Reform of Ch11 to Hold Conference
-----------------------------------------------------------------
Concluding more than two years of effort, ABI's Commission to
Study the Reform of Chapter 11 will hold a press conference to
release its final report of proposals to modernize and improve the
Bankruptcy Code for financially distressed businesses.

When: Monday, Dec. 8, 9-10 a.m. ET

Where:
National Press Club, Zenger Room, 13th Floor
529 14th St. N.W., Washington, D.C. 20045

Members of the press looking to participate in the press
conference should contact John Hartgen at jhartgen@abiworld.org or
703-894-5935.

Who: Participants at the event include:

Commission Co-Chair Robert J. Keach of Bernstein Shur (Portland,
Maine).
Commission Co-Chair Al Togut of Togut, Segal & Segal, LLP (New
York).
Commission Reporter Prof. Michelle M. Harner of the University of
Maryland Francis King Carey School of Law (Baltimore).

Background:

After concluding more than two years of work, ABI's Commission to
Study the Reform of Chapter 11 will release its final report of
recommendations to improve chapter 11 of the Bankruptcy Code for
financially distressed businesses.  The Commission is made up of
23 prominent insolvency professionals.  The final report of ABI's
Chapter 11 Reform Commission proposes principles that will look to
improve rehabilitating distressed companies, preserve jobs and
recommend a number of ways to make the chapter 11 process more
efficient and cost effective.

The press conference will feature the Commission's co-chairs and
reporter discussing these recommendations and others contained
within the Commission's final report.  Members of the media who
wish to attend the press conference should contact John Hartgen at
jhartgen@abiworld.org or 703-894-5935.

ABI is the largest multi-disciplinary, nonpartisan organization
dedicated to research and education on matters related to
insolvency.  ABI was founded in 1982 to provide Congress and the
public with unbiased analysis of bankruptcy issues.  The ABI
membership includes more than 13,000 attorneys, accountants,
bankers, judges, professors, lenders, turnaround specialists and
other bankruptcy professionals, providing a forum for the exchange
of ideas and information.  For additional information on ABI,
visit http://www.abiworld.org


* BOND PRICING: For The Week From November 24 to 28, 2014
---------------------------------------------------------

  Company               Ticker  Coupon Bid Price  Maturity Date
  -------               ------  ------ ---------  -------------
Allen Systems
  Group Inc             ALLSYS  10.500    35.000     11/15/2016
Allen Systems
  Group Inc             ALLSYS  10.500    36.500     11/15/2016
BPZ Resources Inc       BPZ      6.500    90.260       3/1/2015
BPZ Resources Inc       BPZ      6.500    90.951       3/1/2015
Caesars Entertainment
  Operating Co Inc      CZR     10.000    13.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    15.732       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     12.750    16.468      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      6.500    11.955       6/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      5.750    15.055      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.000    12.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    13.500       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    12.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.500     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      5.750    13.000      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.000    12.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    12.750     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    13.500       2/1/2016
Cal Dive
  International Inc     CDVI     5.000    22.500      7/15/2017
Champion
  Enterprises Inc       CHB      2.750     0.250      11/1/2037
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    49.237     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    49.000     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    49.000     11/15/2017
Dendreon Corp           DNDN     2.875    59.000      1/15/2016
Endeavour
  International Corp    END     12.000    15.000       6/1/2018
Endeavour
  International Corp    END      5.500     3.250      7/15/2016
Energy Conversion
  Devices Inc           ENER     3.000     7.875      6/15/2013
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc      TXU     10.000     9.250      12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc           TXU     10.000     9.500      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc      TXU      6.875     5.625      8/15/2017
Exide Technologies      XIDE     8.625     9.500       2/1/2018
Exide Technologies      XIDE     8.625    15.000       2/1/2018
Exide Technologies      XIDE     8.625    15.000       2/1/2018
FBOP Corp               FBOPCP  10.000     2.000      1/15/2009
FairPoint
  Communications
  Inc/Old               FRP     13.125     1.000       4/2/2018
Fleetwood
  Enterprises Inc       FLTW    14.000     3.557     12/15/2011
Global Geophysical
  Services Inc          GEGS    10.500     1.500       5/1/2017
Global Geophysical
  Services Inc          GEGS    10.500     0.930       5/1/2017
Gymboree Corp/The       GYMB     9.125    36.255      12/1/2018
James River Coal Co     JRCC     7.875     1.000       4/1/2019
James River Coal Co     JRCC    10.000     1.100       6/1/2018
James River Coal Co     JRCC    10.000     0.500       6/1/2018
James River Coal Co     JRCC     3.125     0.005      3/15/2018
Las Vegas Monorail Co   LASVMC   5.500     1.100      7/15/2019
Lehman Brothers Inc     LEH      7.500     9.125       8/1/2026
MF Global Holdings Ltd  MF       6.250    37.550       8/8/2016
MF Global Holdings Ltd  MF       1.875    38.100       2/1/2016
MF Global Holdings Ltd  MF       3.375    29.900       8/1/2018
MModal Inc              MODL    10.750    10.125      8/15/2020
Molycorp Inc            MCP      6.000    34.600       9/1/2017
Molycorp Inc            MCP      3.250    50.750      6/15/2016
Molycorp Inc            MCP      5.500    32.000       2/1/2018
Momentive Performance
  Materials Inc         MOMENT  11.500     1.750      12/1/2016
NII Capital Corp        NIHD    10.000    37.500      8/15/2016
NII Capital Corp        NIHD     7.625    17.500       4/1/2021
NII Capital Corp        NIHD     8.875    28.250     12/15/2019
OMX Timber Finance
  Investments II LLC    OMX      5.540    25.188      1/29/2020
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Powerwave
  Technologies Inc      PWAV     3.875     0.125      10/1/2027
Powerwave
  Technologies Inc      PWAV     3.875     0.125      10/1/2027
Quicksilver
  Resources Inc         KWK      7.125    19.625       4/1/2016
RAAM Global Energy Co   RAMGEN  12.500    75.901      10/1/2015
RadioShack Corp         RSH      6.750    34.250      5/15/2019
RadioShack Corp         RSH      6.750    34.250      5/15/2019
Saratoga Resources Inc  SARA    12.500    57.000       7/1/2016
TMST Inc                THMR     8.000    20.000      5/15/2013
Terrestar Networks Inc  TSTR     6.500    10.000      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    11.875      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    26.000       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    11.750      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500    10.313      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    27.000       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    10.125      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500    10.500      11/1/2016
Tunica-Biloxi
  Gaming Authority      PAGON    9.000    59.750     11/15/2015
Walter Energy Inc       WLT      9.875    30.000     12/15/2020
Walter Energy Inc       WLT      8.500    28.289      4/15/2021
Walter Energy Inc       WLT      9.875    30.250     12/15/2020
Walter Energy Inc       WLT      9.875    30.250     12/15/2020
Western Express Inc     WSTEXP  12.500    89.250      4/15/2015
Western Express Inc     WSTEXP  12.500    89.500      4/15/2015



                             *********

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 ***