TCR_Public/141229.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 29, 2014, Vol. 18, No. 360

                            Headlines

1800 W. LAKE: No Quick Ruling in Suit v. American Chartered
ACOSTA HOLDCO: S&P Withdraws 'B' CCR on Merger with Subsidiary
AGFEED USA: Liquidation Plan Declared Effective
ALCO STORES: Court Sets Jan. 16, 2015 as Claims Bar Date
ALEXZA PHARMACEUTICALS: Adopts 2014 Bonus Plan

ALLY FINANCIAL: U.S. Treasury to Sell 54.9 Million Common Shares
ALLY FINANCIAL: Registers $12.5 Billion Demand Notes
AMERICAN APPAREL: Fund Asks Retailer to Consider Alternatives
AMERICAN APPAREL: Board Declares Dividend
AMERICAN INT'L: Coventry Says Suit Bad for Business

AMERICAN SANDS: Needs Additional Capital to Commence Operations
AMPLIPHI BIOSCIENCES: Philip Young Removed From Board
ARAMID ENTERTAINMENT: Plan Proposal Period Extended to Jan. 9
ARKANOVA ENERGY: Incurs $3 Million Net Loss in Fiscal 2014
ASSOCIATED WHOLESALES: Wants Removal Period Extended to April 7

ASTANA FINANCE: Status Conference Adjourned Until June 2015
ATHLON HOLDINGS: Moody's Withdraws B2 Corporate Family Rating
BALMORAL RACING: Files for Chapter 11 to Dodge Property Seizure
BALMORAL RACING: Case Summary & 20 Largest Unsecured Creditors
BANESCO USA: Fitch Affirms 'B+' IDR; Outlook Stable

BENTLEY PREMIER: Wants Final Decree Closing Reorganization Case
BIOLIFE SOLUTIONS: Annual Meeting of Stockholders Set for May 4
BIOLIFE SOLUTIONS: Files Post-Effective Amendment to Form S-1
BIOLITEC INC: Court Won't Vacate Order Expunging Insiders' Claim
BOYD GAMING: Bank Debt Trades at 2% Off

BUFFET PARTNERS: Bailey Brauer Wins Court Battle Over Back Taxes
CAESARS ENTERTAINMENT: Five Law Firms Advise Cos. in Merger
CAESARS ENTERTAINMENT: Bank Debt Won't Deter Ch. 11 Plan for Unit
CAESARS ENTERTAINMENT: Extends Restructuring Agreement Deadlines
CAMARILLO PLAZA: Final Decree Entered; Reorganization Case Closed

CENTRIC HEALTH: S&P Keeps B- CCR on Revised Liquidity Assessment
CHARLES FOGARTY: Defendants in Suit vs. Palumbo Win Judgment
CHINA FRUITS: Has $520K Working Capital Deficit in Third Quarter
CIT GROUP: Moody's Continues Review of Ba3 Sr. Unsecured Rating
COLDWATER CREEK: Bankruptcy Cases of Other Debtors Closed

COLDWATER CREEK: L. Trustee Has Until March 5 to Remove Actions
CONVATEC HEALTHCARE: CEO Departure No Impact on Moody's B2 CFR
CORD BLOOD: Seeks to Dismiss Lawsuit vs. Tonaquint and St. George
DAHL'S FOODS: Associated Wholesale-Led Auction Slated for January
DAUGHTERS OF CHARITY: S&P Lowers Rating on 2005 Bonds to 'CCC'

DAVE & BUSTER'S: S&P Retains 'B+' Corporate Credit Rating
DELIA*S INC: Gift Cards Valid Only Until Jan. 23
DELL INC: Fitch Raises IDR to 'BB'; Outlook Revised to Positive
DOMUM LOCIS: Court Enters Memorandum of Decision on Various Bids
DUPONT PERFORMANCE: Bank Debt Trades at 3% Off

EDGENET INC: Amended Liquidation Plan Declared Effective
EXIDE TECHNOLOGIES: Sued Over Alleged Health Problems
FALCON STEEL: Equity Holders' Bid for Official Committee Denied
FLC HOLDING: Bankruptcy Court Approves Sale of PNA Bank to Royal
FLEXPOINT SENSOR: Lacks Revenue to Fund Operations

FOREX INTERNATIONAL: Working Capital Insufficient for Operations
FORTESCUE METALS: Bank Debt Trades at 9% Off
FPL ENERGY: S&P Affirms 'BB' Rating on $365MM Sr. Sec. Notes
GBG RANCH: Files Schedules of Assets and Liabilities
GLOBALSTAR INC: Thermo Investments Buys 12.3-Mil. Common Shares

GLYECO INC: Board Okays Equity Incentive Program
GOPICNIC BRANDS: To Sell Packaged Meal Business at Auction
GT ADVANCED: Portion of Furnace Sale Proceeds to Go to Apple
GT ADVANCED: Wins Approval of Apple Settlement
HAMILTON SUNDSTRAND: Bank Debt Trades at 8% Off

HEALTHSOUTH CORP: Moody's Affirms Ba3 Corp. Family Rating
HUNTINGTON BEACH SCHOOL DISTRICT: On Fin'l Brink Due to Asbestos
INDEPENCE TAX II: Reports $128K Net Loss in Q2 Ending Sept. 30
INEOS GROUP: Bank Debt Trades at 3% Off
INFINITY ENERGY: Recurring Losses Raise Going Concern Doubt

INFORMATION RESOURCES: S&P Lowers CCR to 'B'; Outlook Stable
INNES MCINTYRE: Ch.7 Trustee Can't Sell Prattville Shopping Mall
INSTITUTO MEDICO: Taps Hooper Lundy as Special Counsel
INTERLEUKIN GENETICS: Raises $10 Million in Financings
INVENT VENTURES: Needs Financing to Continue as Going Concern

ISTAR FINANCIAL: S&P Corrects Secured Debt Rating to 'B+'
KANGADIS FOOD: Court OKs Stipulation, Closes Reorganization Case
KENTUCKY ECONOMIC: Moody's Maintains Ba3 Senior Lien Bonds Rating
KIOR INC: Asks Court to Set Claims Bar Date
KIOR INC: Files Schedules of Assets and Liabilities

LAS VEGAS SANDS: Fitch Raises Issuer Default Rating From 'BB+'
LEHMAN BROTHERS: Sues St. Louis University Over Swaps
LENCO MOBILE: Reports $2.52-Mil. Net Loss in Sept. 30 Quarter
LOCATION BASED TECHNOLOGIES: CEO Issues Letter to Shareholders
LONGVIEW POWER: Time to Remove Actions Extended to March 22

MATTAMY GROUP: S&P Revises Outlook to Neg. & Affirms 'BB' CCR
MEDFORD DEVELOPMENT: Case Summary & Largest Unsecured Creditors
MEG ENERGY: Bank Debt Trades at 5% Off
MERCANTIL COMMERCEBANK: Fitch Affirms 'BB' IDR; Outlook Stable
METALICO INC: Enters Into Exchange Agreements with Note Holders

MF GLOBAL: Settles U.S. Govt. Lawsuit, To Pay $1.3BB
MF GLOBAL: CFTC Fines Parent Company $100 Million
MINERAL PARK: Removal Period Extended to March 23, 2015
MJC AMERICA: Has Access to East West Bank's Cash Collateral
MOBILESMITH INC: Shlomo Elia Quits as Director

MOMENTIVE PERFORMANCE: S&P Assigns 'B-' CCR; Outlook Stable
MONROE HOSPITAL: Close to Hiring Business Dev't Director, CEO
MUD KING: Court Extends Exclusive Plan Solicitation Period
NEIMAN MARCUS: Bank Debt Trades at 3% Off
NEWALTA CORP: Moody's Affirms Ba3 Corporate Family Rating

NII HOLDINGS: Amends Schedules of Assets and Liabilities
NRG ENERGY: Bank Debt Trades at 2% Off
OCWEN FINANCIAL: Fitch Lowers Rating to 'B-' on Regulatory Deal
OMNICARE INC: Anti-kickback Lawsuit No Impact on Moody's Ba3 CFR
ONE SOURCE: Seeks Jan. 15 Extension of Schedules Filing

OVERLAND PARK: S&P Affirms 'BB+' on $45.625MM Revenue Bonds
PETRON ENERGY: Shareholders Elected Two Directors
PETTERS COMPANY: Trustee Can Use Cash Collateral Until Dec. 31
PLASTIC2OIL INC: Final Hearing in Class Action Settlement Set
PMC MARKETING: Court Dismissed Adversary Suit vs. Villa Blanca

PORTER BANCORP: Has Until June 15 to Regain NASDAQ Compliance
PRIME TIME INT'L: Plan Filing Exclusivity Extended to March 16
PROTECTION SYSTEMS: Former Litigation Counsel's Claim Disallowed
RADIAN GUARANTY: Moody's Ba2 IFS Rating on Review for Upgrade
RADIOSHACK CORP: CEO Says Chain Is 'Overstored'

RESTAURANT BRANDS: S&P Assigns 'B+' CCR; Outlook Stable
ROBERT MEIER: Bankruptcy Court Decides on Claims by Martha Meier
RYNARD PROPERTIES: Fannie Mae Seeks to Lift Automatic Stay
SABINE OIL: Sabine Investor Has 50% Stake as of Dec. 16
SAMSON RESOURCES: S&P Lowers Corporate Credit Rating to 'B-'

SAN GOLD: Seeks Protection From Creditors
SCHAEFER SALT: Khoudary Suspended From Law Practice in New York
SEQUENOM INC: Okays $2 Million Employee Cash Bonuses
SOUND SHORE: Plan of Liquidation Declared Effective
SOURCE HOME: Committee's Challenge Period Extended Until Dec. 29

SOURCE HOME: Cash Collateral Use Milestones Extended
SOURCE INTERLINK: Family Fare Withdraws Objections to Plan
SPANISH BROADCASTING: Gets Noncompliance Notice From NASDAQ
SPECIALTY HOSPITAL: Sale Closing Cues US Trustee to Withdraw Plea
SPECTRASCIENCE INC: Needs Funding to Continue as Going Concern

STAMP FARMS: Co-Owner Pleads Guilty to Bankruptcy Fraud
STARR PASS: U.S. Bank Can Proceed With Suit in State Court
STARR PASS: Can Hire Eason Rohde as Special Litigation Counsel
STARWOOD PROPERTY: S&P Lowers Sr. Secured Debt Rating to 'BB'
STATION CASINOS: Bank Debt Trades at 2% Off

SUNGARD AVAILABILITY: S&P Lowers CCR to 'B'; Outlook Negative
SUPERCONDUCTOR TECHNOLOGIES: Cash Is Insufficient for 2015
SWEET ONION TRADING: Case Summary & 17 Top Unsecured Creditors
TACTICAL FIREARMS: Ex-Owner Refuses to Surrender Facebook Page
TENET HEALTHCARE: Former Fla. Gov. Jeb Bush Quits From Board

TLC HEALTH: Has Until Jan. 13 to File Chapter 11 Plan
TRANSGENOMIC INC: Rodney Markin Quits From Board of Directors
TRIGEANT HOLDINGS: Plan Filing Exclusivity Terminated
TRIGEANT HOLDING: Can Hire Greenberg Traurig as Bankr. Counsel
TRUMP ENTERTAINMENT: Lease Decision Period Extended to April 7

U.S. COAL: Judge Says Co. Can Begin Spending $2 Million Loan
U-VEND INC: Incurs $286K Net Loss in Q3 Ending Sept. 30
ULTIMATE NUTRITION: Has Interim Authority to Use TD Bank Cash
UNITED CONTINENTAL: Moody's Hikes Corporate Family Rating to B1
UNIVAR N.V.: Bank Debt Trades at 4% Off

UNIVERSITY GENERAL: Closes UGH-Dallas Hospital
VANN'S INC: Ex-Employees Settle Lawsuit Against Insiders
VARIANT HOLDING: Wants Court to Set March 17 as Claim Bar Date
VARIANT HOLDING: Has Until March 2015 on Lease-Related Decision
VERMILLION INC: Has Equity Financing of up to $18.9 Million

VERMILLION INC: Larry Feinberg Reports 18.8% Stake as of Dec. 23
VIGGLE INC: Obtains $2 Million Loan From Chairman and CEO
VILLAGE GREEN: Court Affirms Dismissal of Suit vs. Fannie Mae
VILLAGE GREEN: Fannie May Dispute Stays in Bankruptcy Court
VISCOUNT SYSTEMS:  Geoffrey Arens Appointed as Director

VWR FUNDING: S&P Raises CCR to 'B+'; Outlook Stable
WASHINGTON MUTUAL: Judge Approves $37MM Bankruptcy Settlement
YARWAY CORP: Wants Court to Set March 18 as Claims Bar Date
YELLOWSTONE MOUNTAIN: Blixseth Released From Jail
ZUERCHER TRUST: Court Converts Case to Chapter 7 Liquidation

ZUERCHER TRUST: Taps Matthew Sheridan to Valuate Bay Area Assets
ZUERCHER TRUST: Taps Michael Abergel to Analyze LA Properties
ZUERCHER TRUST: Trustee Taps Thomas Jeremiassen as Expert Witness
ZYNEX INC: Obtains Forbearance From Senior Lender Until March 31

* Credit-Default Swaps Get New Look From Hedge Funds
* Teen Apparel Sector Significant Restructuring Inevitable

* BOND PRICING: For Week From December 22 to 26, 2014


                             *********

1800 W. LAKE: No Quick Ruling in Suit v. American Chartered
-----------------------------------------------------------
District Judge Matthew F. Kennelly denied the Defendants' motion
for summary judgment in the lawsuit, 1800 W. LAKE STREET LLC,
Plaintiff, v. AMERICAN CHARTERED BANK and SCHERSTON REAL ESTATE
INVESTMENTS, LLC, Defendants, CASE NO. 14 C 420 (N.D. Ill.).  The
case is set for a status hearing on Jan. 5, 2015 at 9:30 a.m. for
the purpose of setting a trial date and discussing the possibility
of settlement.

1800 W. Lake Street on October 25, 2006, obtained a loan of
$1,475,000 from American Chartered.  The loan was secured by a
mortgage in favor of American Chartered on real property located
at 1800 W. Lake Street in Chicago.

In addition, plaintiff and its affiliates obtained other loans
from American Chartered related to other parcels of real property,
as well as loans to pay taxes on those properties. Plaintiff was
in danger of defaulting, and it entered into a series of
forbearance agreements with American Chartered. Pursuant to one of
these agreements, Plaintiff agreed to place a deed to the 1800 W.
Lake Street property in escrow so that if Plaintiff defaulted,
American Chartered would have the right to record the deed in lieu
of foreclosing on its mortgage. Under the parties' agreement, if
American Chartered recorded the deed, certain of plaintiff's loans
from American Chartered would be deemed paid in full.

Plaintiff defaulted, and American Chartered, through its affiliate
Scherston Real Estate Investments, LLC, recorded the deed.
Plaintiff then became insolvent and filed for bankruptcy. In
connection with the bankruptcy case, plaintiff has sued American
Chartered and Scherston, seeking to set aside the transfer of the
property as fraudulent pursuant to 11 U.S.C. Sec. 548.  Plaintiff
alleges that it did not receive reasonably equivalent value in
exchange for the transfer.

A copy of the Court's Dec. 22, 2014 Memorandum Opinion and Order
is available at http://is.gd/X2beTffrom Leagle.com.

1800 W. Lake Street LLC, owner of the real property located at
1800 W. Lake Street in Chicago, filed for Chapter 11 bankruptcy
(Bankr. N.D. Ill. Case No. 13-49049) on Dec. 27, 2013.  Hon.
Benjamin A. Goldgar presides over the Chapter 11 case.  The Debtor
is represented by:

     David P Lloyd, Esq.
     DAVID P. LLOYD, LTD.
     615B S. LaGrange Rd.
     LaGrange, IL 60525
     Tel: 708 937-1264
     Fax: 708 937-1265
     E-mail: courtdocs@davidlloydlaw.com

In its petition, the Debtor listed total assets of $2.40 million
and total liabilities of $1.70 million.  The petition was signed
by Chris Bambulas, member/manager.

A list of the Debtor's two largest unsecured creditors is
available for free at http://bankrupt.com/misc/ilnb13-49049.pdf


ACOSTA HOLDCO: S&P Withdraws 'B' CCR on Merger with Subsidiary
--------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B' corporate
credit rating on Acosta Holdco, Inc. following its merger into
subsidiary Acosta Inc., the group's lead borrower.  As a result of
the merger and as contemplated in the debt issuance documents,
Acosta Inc. is now the borrower under the $800 million notes and
$2.29 billion credit facility.  All of S&P's ratings on Acosta
Inc., including its 'B' corporate credit rating, are unchanged, as
is the stable outlook.


AGFEED USA: Liquidation Plan Declared Effective
-----------------------------------------------
AgFeed USA, LLC, et al., notified the Bankruptcy Court that the
Effective Date of the Revised Second Amended Plan of Liquidation
occurred on Nov. 10, 2014.

As reported in the Troubled Company Reporter on Nov. 7, 2014, the
Court confirmed the revised second amended plan, which was
supported by the Official Committee of Equity Security Holders.

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

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

                     About AgFeed Industries

AgFeed Industries, Inc., has 21 farms and five feed mills in China
producing more than 250,000 hogs annually. In the U.S., the
business included 10 sow farms in three states and two feed mills
producing more than one million hogs a year. AgFeed's revenue in
2012 was $244 million.

AgFeed and its affiliates filed voluntary petitions under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 13-11761) on
July 15, 2013, with a deal to sell most of its subsidiaries to The
Maschhoffs, LLC, for cash proceeds of $79 million, absent higher
and better offers.  The Debtors estimated assets of at least $100
million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.

The U.S. Trustee has appointed a five-member official committee of
unsecured creditors to the Chapter 11 cases.  The Creditors'
Committee tapped Lowenstein Sandler as lead bankruptcy counsel and
Greenberg Traurig, LLP, as co-counsel.  CohnReznick LLP serves as
the Creditors' Committee's financial advisor.

An official committee of equity security holders was also
appointed to the Chapter 11 cases.  The Equity Committee tapped
Sugar Felsenthal Grais & Hammer LLP and Elliott Greenleaf as
co-counsel.

Jefferies Leveraged Credit Products and Claims Recovery Group are
represented by Lawrence J. Kotler, Esq., and Catherine B.
Heitzenrater, Esq., at Duane Morris, LLP.


ALCO STORES: Court Sets Jan. 16, 2015 as Claims Bar Date
--------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas set
Jan. 16, 2015 at 5:00 p.m. (prevailing Central Time) as the
deadline for creditors of Alco Stores Inc. and its debtor-
affiliates to file proofs of claim.  The Court also set April 10,
2015 at 5:00 p.m. (prevailing Central Time) as deadline for all
government units to file their claims.

In addition, the Court fixed Jan. 16, 2015 at 5:00 p.m.
(prevailing Central Time) as deadline for each person or entity to
file a request for payment of claim pursuant to 11 U.S.C. Section
503(b)(9) against the appropriate Debtor.

Proofs of Claim must be received on or before the applicable claim
deadlines by Prime Clerk LLC, the Debtors' claims and noticing
agent, at:

   ALCO Stores, Inc. Claims Processing Center
   c/o Prime Clerk LLC
   830 3rd Avenue, 9th Floor
   New York, NY 10022

                      About ALCO Stores

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

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

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

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

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

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

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


ALEXZA PHARMACEUTICALS: Adopts 2014 Bonus Plan
----------------------------------------------
The Board of Directors of Alexza Pharmaceuticals, Inc., adopted
the Company's 2014 Cash Bonus Plan for the Company's employees,
including Thomas B. King, James V. Cassella, Edwin S. Kamemoto,
Robert Lippe and Mark K. Oki.  The Bonus Plan was adopted to
motivate and retain the Company's employees.

Under the Bonus Plan, the Board set corporate goals for 2014.  To
pay any cash bonus award to any employee under the Bonus Plan,
including the Executive Officers, the Company must achieve 70% of
the Corporate Goals, as determined by the Board.  To receive any
portion of his cash bonus award, each employee must be actively
employed by the Company on Dec. 31, 2014, and be an employee in
good standing.

Under the terms of the Bonus Plan, each employee, including each
Executive Officer, was assigned a target bonus percentage of such
employee's current base salary for 2014, based on an evaluation by
an outside compensation consulting firm of similar programs for
similar companies.  Pursuant to the terms of the Bonus Plan, the
target bonus percentage was set at 60% of base salary for the
Chief Executive Officer, and 40% of base salary for the other
Executive Officers.  The bonus amount payable to each employee was
targeted at such employee's target bonus percentage, but
employees, including the Executive Officers, may receive more than
or less than 100% of their target bonus percentage, depending on
corporate goal achievement, individual performance and Board
discretion.

The amounts payable are weighted for each employee, including
Executive Officers, such that the Board's determination of the
achievement of the Corporate Goals (and for all employees other
than the Chief Executive Officer, the related department or
individual goals as recorded with the Company's 2014 year-end
individual performance evaluations) will account for 80% of the
evaluation factor of the bonus potential for each employee, with
the remaining 20% of the bonus potential being subject to the
discretion of the Board.

On Dec. 18, 2014, the Board determined that the Company achieved
79% of the Corporate Goals, and approved the payment of the cash
bonuses related to the Corporate Goals under the Bonus Plan, and
each of the Executive Officers, in addition to the other
participants in the Bonus Plan, became entitled to receive the
cash bonus associated with the Corporate Goals.  The amounts
awarded to the Executive Officers in connection with the Corporate
Goals were as follows:

Executive Officer                                  Bonus Amount
-----------------                                  ------------
Thomas B. King                                       $241,181
President and Chief Executive Officer

James V. Cassella, Ph.D.                             $135,690
Executive Vice President, Research and
Development and Chief Scientific Officer

Mark K. Oki                                           $59,724
Senior Vice President, Finance,
Chief Financial Officer and Secretary

Edwin S. Kamemoto                                     $91,640
Senior Vice President, Regulatory Affairs

Robert A. Lippe                                      $102,266
Executive Vice President, Operations and
Chief Operations Officer

2015 Base Salary Increases

On Dec. 18, 2014, the Board approved the following 2015 salary
increases for the Executive Officers to be effective as of Jan. 1,
2015.  The salary increases were based upon merit and a peer
company review conducted by Radford.

Executive Officer                                 New Base Salary
-----------------                                 ---------------
James V. Cassella, Ph.D.                             $429,400
Executive Vice President, Research
and Development and Chief Scientific Officer

Mark K. Oki                                          $324,450
Senior Vice President, Finance,
Chief Financial Officer and Secretary

Edwin S. Kamemoto                                    $304,500
Senior Vice President, Regulatory Affairs

Robert A. Lippe                                      $387,600
Executive Vice President, Operations and
Chief Operations Officer

                           About Alexza

Mountain View, California-based Alexza Pharmaceuticals, Inc., was
incorporated in the state of Delaware on Dec. 19, 2000, as FaxMed,
Inc.  In June 2001, the Company changed its name to Alexza
Corporation and in December 2001 became Alexza Molecular Delivery
Corporation.  In July 2005, the Company changed its name to Alexza
Pharmaceuticals, Inc.

The Company is a pharmaceutical development company focused on the
research, development, and commercialization of novel proprietary
products for the acute treatment of central nervous system
conditions.

Alexza Pharmaceuticals reported a net loss of $39.61 million in
2013, a net loss of $27.97 million in 2012 and a net loss of
$40.53 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $65.8
million in total assets, $114.64 million in total liabilities and
total stockholders' deficit of $48.84 million.


ALLY FINANCIAL: U.S. Treasury to Sell 54.9 Million Common Shares
----------------------------------------------------------------
Ally Financial Inc., in connection with a registered underwritten
secondary public offering of shares of its common stock, entered
into an underwriting agreement with Goldman, Sachs & Co. and
Morgan Stanley & Co. LLC, and the United States Department of the
Treasury (the "Selling Stockholder"), pursuant to which the
Selling Stockholder agreed to sell to the Underwriters 54,926,296
shares of the Company's common stock.  The Company will not
receive any proceeds from the sale of the shares of common stock
in the Offering.

The Underwriting Agreement contains customary representations,
warranties and covenants of the Company, conditions to closing,
indemnification obligations of the Company and the Underwriters,
and termination and other customary provisions.

A copy of the Underwriting Agreement is available for free at:

                        http://is.gd/pzE9Kx

                       About Ally Financial

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

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

                           *     *     *

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

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

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


ALLY FINANCIAL: Registers $12.5 Billion Demand Notes
----------------------------------------------------
Ally Financial Inc. filed an automatic registration statement with
the U.S. Securities and Exchange Commission on Form S-3ASR to
register $12.5 billion of demand notes.

The Demand Notes are unsecured and unsubordinated debt obligations
of Ally Financial ranking equally with all of our other unsecured,
unsubordinated obligations.  The Demand Notes are not obligations
of, or guaranteed by, any person or entity other than Ally
Financial.  Only the assets of Ally Financial are available for
the payment of principal and interest.

The Demand Notes have no stated maturity and are redeemable on
demand.

The Demand Notes may be redeemed in whole or in part by (i)
writing a redemption check in an amount of $250 or more, (ii) wire
transfer of redemption proceeds of $1,000 or more to a designated
account or other Demand Note, (iii) automatic monthly or quarterly
redemption by Automated Clearing House of specified amounts of
$100 or more or automatic monthly interest redemption by ACH, (iv)
authorizing an ACH redemption in an amount of $250 or more, (v)
requesting in writing or by telephone that a redemption check in
an amount of $250 or more be issued, and (vi) full redemption.

Processing Agent: The Northern Trust Company
                  P.O. Box 75707
                  Chicago, IL 60675-5707

Trustee:          U.S. Bank National Association
                  535 Griswold, Suite 550, Detroit,
                  Michigan 48226, under an Indenture
                  dated as of Oct. 15, 1985, as amended and
                  supplemented from time to time.

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

                        http://is.gd/8BnVTp

                        About Ally Financial

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

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

                           *     *     *

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

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

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


AMERICAN APPAREL: Fund Asks Retailer to Consider Alternatives
-------------------------------------------------------------
Suzanne Kapner, writing for The Wall Street Journal, reported that
hedge fund Lion Capital is urging struggling retailer American
Apparel Inc. to consider options like a sale, people familiar with
the matter said.  According to the report, citing the people, the
hedge fund made its argument in a letter to American Apparel's
board, saying the company should create a special committee to
evaluate strategic alternatives following the retailer's receipt
of a takeover offer from private-equity firm Irving Place Capital
that valued the company at $1.30 to $1.40 a share.

                      About American Apparel

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

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

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

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

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

                           *     *     *

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

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

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


AMERICAN APPAREL: Board Declares Dividend
-----------------------------------------
The Board of Directors of American Apparel, Inc., declared a
dividend distribution of one right for each outstanding share of
common stock, par value $0.0001 per share, of the Company to
shareholders of record at the close of business on Jan. 2, 2015,
according to a regulatory filing with the U.S. Securities and
Exchange Commission.

Each Right entitles the registered holder to purchase from the
Company a unit consisting of one ten-thousandth of a share of
Series B Junior Participating Preferred Stock, par value $0.0001
per share, at a purchase price of $3.25 per Unit, subject to
adjustment.  The description and terms of the Rights are set forth
in a Rights Agreement, dated as of Dec. 21, 2014, between the
Company and Continental Stock Transfer & Trust Company as Rights
Agent.

A full-text copy of the Form 8-A is available for free at:

                        http://is.gd/qMH3is

                       About American Apparel

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

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

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

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

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

                           *     *     *

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

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

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


AMERICAN INT'L: Coventry Says Suit Bad for Business
---------------------------------------------------
Donna Horowitz, writing for The Deal, reported that Coventry First
LLC says that allegations made by an affiliate of American
International Group Inc. have been "exceptionally bad" for its
business.  According to the report, the Fort Washington, Pa.-based
life settlement provider said the insurer has undertaken an effort
to destroy the company's business.

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

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

                           About AIG

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

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


AMERICAN SANDS: Needs Additional Capital to Commence Operations
---------------------------------------------------------------
American Sands Energy Corp. filed its quarterly report on Form 10-
Q, reporting a net loss of $909,000 on $nil of total revenue for
the three months ended Sept. 30, 2014, compared with a net loss of
$792,000 on $nil of total revenue for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed
$1.89 million in total assets, $890,000 in total liabilities, and
a stockholders' equity of $1 million.

As of Sept. 30, 2014, the Company had cash and cash equivalents of
$0.4 million and a working capital deficit of $32.0 million.

The Company has incurred substantial losses from operations and
has negative cash flows from operating activities, which raise
substantial doubt about the Company's ability to continue as a
going concern.  The Company sustained a net loss for the six
months ended Sept. 30, 2014 of $1.80 million and has an
accumulated deficit of $16.4 million as of Sept. 30, 2014.  In
addition, the Company estimates it will require $150 million in
capital to commence principal operations.

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

                        http://is.gd/5y6ozZ

American Sands Energy Corp. operates as a development stage
company with interest in clean extraction of bitumen from oil
sands.  It has under lease oil sand deposits in Utah containing
millions of barrels of recoverable bitumen resource.  The company
has also licensed and refined a proprietary extraction process
that separates hydrocarbons from sand, dirt and other substances
to produce a liquid fuel stock suitable for refining.  American
Sands Energy was founded by William C. Gibbs on April 7, 1983 and
is headquartered in Salt Lake City, Utah.


AMPLIPHI BIOSCIENCES: Philip Young Removed From Board
-----------------------------------------------------
Ampliphi Biosciences Corporation held a special meeting of
shareholders on Dec. 19, 2014, at which the shareholders:

   (1) authorized an amendment to the Amended and Restated
       Articles of Incorporation of the Company allowing its
       Board, in its discretion at any time prior to June 30,
       2015, to effect a reverse stock split of the Company's
       outstanding common stock at a ratio at least five-for-one
       and up to fifty-for-one;

   (2) approved an amendment to the Company's Amended and Restated
       Articles of Incorporation modifying the requirements of
       director removal; and

   (3) removed Philip J. Young from the Board of the Company,
       effective Dec. 19, 2014.

                          Amends Form S-1

Ampliphi Biosciences had amended its registration statement
covering the sale of an aggregate of up to 73,362,164 shares of
the Company's common stock, par value $0.01 per share, by
Edward Cappabianca, OTA, LLC, NRM VII Holdings I, LLC, et al.  The
Shares consist of 72,007,000 shares of the Company's common stock
that were issued pursuant to a Subscription Agreement, dated as of
Dec. 19, 2013, and 1,355,164 shares underlying the exercise of
warrants held by certain of the Selling Stockholders.

The Company will not receive any proceeds from the sale by the
Selling Stockholders of the shares covered by this prospectus.

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

                       http://is.gd/cviPej

                          About AmpliPhi

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

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

PBMares, LLP, in Richmond, Virginia, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has had recurring losses from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

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


ARAMID ENTERTAINMENT: Plan Proposal Period Extended to Jan. 9
-------------------------------------------------------------
Bankruptcy Judge Sean H. Lane granted Aramid Entertainment Fund
Limited an extension (i) through and until January 9, 2015, of its
exclusive period to propose a Chapter 11 plan, and (ii) through
and until March 20, 2014, of its exclusive period to solicit
acceptances of that plan.

As reported in the Oct. 21, 2014 edition of the Troubled Company
Reporter, Aramid Entertainment, et al., in seeking the exclusive
period extension explained that in the first four months of the
case, they have made substantial progress in the conduct of
reorganizing their businesses.  The duly appointed joint voluntary
liquidators investigated and understood the assets and liabilities
of the Debtors. Their findings show that the litigation between
the Debtors and the parties David Molner and David Bergstein had
historically, and continued to, consume an extraordinary amount of
the Debtors' time and resources.  Based on the number and
intensity of the Actions, the Debtors concluded that if they were
not resolved, the Actions would result in debilitating distraction
and material and unlikely costs to them.  Due to the number,
complexity and expense associated with the Actions, the Debtors
asserted that their strategy with respect to the Actions is a
threshold issue in these cases that should logically be resolved
before they proceed with the proposal of the plan.

                    About Aramid Entertainment

Aramid Entertainment Fund Limited has been engaged in the business
of providing short and medium term liquidity to producers and
distributors of film, television and other media and entertainment
content by way of loans and equity investments.

On May 7, 2014, Geoffrey Varga and Jess Shakespeare of Kinetic
Partners (Cayman) Limited were appointed under Cayman law as the
joint voluntary liquidators of AEF and two affiliates.

On June 13, 2014, the JVLs authorized AEF and two affiliates to
file for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead
Case No. 14-11802) in Manhattan on June 13, 2014.

The Debtors have tapped James C. McCarroll, Esq., Jordan W. Siev,
Esq., Richard A. Robinson, Esq., and Michael J. Venditto, Esq. of
Reed Smith, LLP, in New York, as counsel and Kinetic Partners
(Cayman) Limited as crisis managers.

AEF estimated at least $100 million in assets and between
$10 million to $50 million in liabilities.


ARKANOVA ENERGY: Incurs $3 Million Net Loss in Fiscal 2014
----------------------------------------------------------
Arkanova Energy Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a
net loss of $3 million on $844,303 of total revenue for the year
ended Sept. 30, 2014, compared with a net loss of $2.73 million on
$849,916 of total revenue for the year ended Sept. 30, 2013.

As of Sept. 30, 2014, the Company had $2.52 million in total
assets, $14.15 million in total liabilities and a $11.62 million
total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Sept. 30, 2014.  The independent auditors noted that
the Company has incurred cumulative losses since inception and has
negative working capital, which raises substantial doubt about its
ability to continue as a going concern.

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

                        http://is.gd/9N02xN

                           About Arkanova

Austin, Tex.-based Arkanova Energy Corporation is a junior
producing oil and gas company and is also engaged in the
acquisition, exploration and development of prospective oil and
gas properties.  It holds mineral leases in Delores County, Lone
Mesa State Park, Colorado and leasehold interests located in
Pondera and Glacier Counties, Montana.


ASSOCIATED WHOLESALES: Wants Removal Period Extended to April 7
---------------------------------------------------------------
ADI Liquidation, Inc., formerly known as AWI Delaware, Inc., et
al., ask the Bankruptcy Court to extend the period within which to
remove actions for an additional 120 days through and including
April 7, 2015.

Since the Petition Date, the Debtors have made significant
progress in resolving many of the issues facing the Debtors'
estates.

The Debtors have a legitimate need for additional time to remove
the actions.  Absent the requested relief, the Debtors will be
prejudiced with their right to remove actions since they would
lose an important part of their ability to manage litigation
during the Chapter 11 cases.

The hearing on the motion is set on Jan. 21, 2015, at 10:00 a.m.
(EST).

                   About Associated Wholesalers

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

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

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

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

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

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

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


ASTANA FINANCE: Status Conference Adjourned Until June 2015
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
adjourned until June 2, 2015, at 10:00 a.m., the status conference
on the petition under Chapter 15 for recognition of foreign
proceeding and motion for permanent injunction filed on behalf of
JSC "Astana-Finance".  The status conference was originally
scheduled for Dec. 9, 2014.

                       About Astana Finance

JSC "Astana Finance", a financial-services company based in
Kazakhstan, is seeking court protection from its U.S. creditors
while it carries out its $1.9 billion restructuring plan in
Kazakhstan.  AF seeks recognition of pending proceedings before
the specialized financial court of Almaty, Kazakhstan, as "foreign
main proceeding".

Marat Duysenbekovich Aitenov, as foreign representative, signed a
Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case No. 12-4113).
The petition was filed Oct. 1, 2012.  The Debtor is estimated to
have at least $500 million in assets and at least $1 billion in
liabilities.

Bankruptcy Judge Allan L. Gropper oversees the Chapter 15 case.
Alex R. Rovira, Esq., at Sidley Austin LLP, represents the Foreign
Representative as counsel.

AF was established as a Kazakhstan government funded body on
Dec. 18, 1997, as the State Enterprise Fund of Economic and Social
Development of Akmola Special Economic Zone in accordance with the
law of Kazakhstan in Astana, Kazakhstan by a decision of the
Administrative Council of Akmola Special Economic Zone.  AF now
acts primarily as the parent company for a group of companies
providing banking and financial services, including a Kazakhstan
bank, JSC Bank Astana Finance.

AF said in court filings that its financial position suffered both
directly and indirectly as a result of the global financial
crisis.  Specifically, the global financial crisis had a negative
impact on the ability of borrowers to repay loans made by AF and
its subsidiaries and on the prices of residential and commercial
real estate in Kazakhstan over which such loans are secured.  As
of Dec. 31, 2009, 62.9% of the loan portfolio of AF's group of
companies was comprised of loans for real estate development and
construction and retail mortgage loans.  In addition, the global
capital markets suffered severe reductions in liquidity, greater
volatility and general widening of spreads which resulted in a
significantly reduced availability of funding for Kazakhstan
borrowers such as AF.

As a consequence of the negative impact on AF of these events, on
several occasions between 2009 and 2011 the credit ratings of AF
were downgraded and were eventually withdrawn in 2011, and AF's
shares were delisted from the Kazakhstan Stock Exchange in October
2010.

AF has submitted a plan that sets out the terms and procedures for
the restructuring and/or cancellation of the indebtedness and
indebtedness guarantees of AF and its subsidiaries.  The principal
amount of indebtedness to be restructured was approximately $1.9
billion (such amount subject to change because of disputed claims
which are in the process of independent adjudication pursuant to,
and in accordance with, the restructuring plan). Claim forms for
the bulk of the debt were submitted.  Only approximately 15% of
the value of the debt was not covered by claim forms, but the debt
will be discharged and cancelled in accordance with the terms of
the restructuring plan.

AF has creditors in the United States: (i) the Export-Import Bank
of the United States, an export credit agency; (ii) certain
beneficial owners of notes privately placed inside and outside the
United States; and (iii) certain holders of notes placed
exclusively outside the United States pursuant to Regulation S
only who subsequently purchased Eurobonds in the secondary market.


ATHLON HOLDINGS: Moody's Withdraws B2 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service has withdrawn all of its ratings on
Athlon Holdings LP after Encana Corporation (Baa2 stable)
completed its acquisition of the company and subsequently redeemed
all of Athlon's outstanding $1.15 billion bonds on December 16,
2014. The ratings withdrawn include Athlon's B2 Corporate Family
Rating, B2-PD Probability of Default Rating and SGL-2 Speculative
Grade Liquidity Rating. This formally concludes Moody's review of
Athlon's ratings that were placed on review on September 29, 2014.

Issuer: Athlon Holdings LP

Ratings Withdrawn:

B2 Corporate Family Rating

B2-PD Probability of Default Rating

SGL-2 Speculative Grade Liquidity Rating

Outlook Action:

Withdraw Ratings Under Review for Upgrade

Ratings Rationale

Athlon Energy Inc. LP was previously engaged in the acquisition,
exploration, development and production of oil and gas in the
Midland Basin of West Texas.


BALMORAL RACING: Files for Chapter 11 to Dodge Property Seizure
---------------------------------------------------------------
Illinois-based affiliates Balmoral Racing Club, Inc. (Bankr. N.D.
Ill. Case No. 14-45711) and Maywood Park Trotting Association,
Inc. (Bankr. N.D. Ill. Case No. 14-45718) filed for Chapter 11
bankruptcy protection on Dec. 24, 2014, to continue operations
into 2015 and protect themselves against property seizure, Tony
Briscoe at Chicago Tribune reports.

Chicago Tribune recalls that a state court had handed down a $78
million lawsuit judgment earlier in December for the tracks'
ownership's role in an extortion scandal involving former Gov. Rod
Blagojevich.  Attorney William McKenna, who is representing  the
Johnston family -- the principal owner of the Debtors -- said
during a Dec. 16, 2014 Illinois Racing Board that if they could
not reach a lower settlement on the judgment, they would have to
file for bankruptcy, a process that would take at least a year,
Chicago Tribune relates.

The Debtors said in a statement released on Dec. 24, 2014, that
"the voluntary Chapter 11 filings will give the tracks sufficient
breathing room to continue working through the process."

Citing Illinois Racing Board Commissioners chairperson William
Berry, Chicago Tribune states that commissioners would consider
voting on the race tracks' wagering licenses on a month-to-month
basis, starting with January, rather than for the entire calendar
year, on the condition that their management and legal counsel
regularly report their financial status.  The report says that the
next meeting will be held on Jan. 27, 2015, in the John R.
Thompson Center.

According to Chicago Tribune, the U.S. 7th Circuit Court of
Appeals ordered on Dec. 11, 2014, (i) the Debtors to pay a total
of $77.8 million to four of the state's riverboat casinos: Empress
Casino in Joliet, Harrah's Casino in Joliet, Grand Victoria Casino
in Elgin and Hollywood Casino in Aurora; and (ii) Balmoral
president/Maywood vice-president John Johnston to pay the casinos
$1 million each in punitive damages.  The report says that the
Debtors were sued on grounds that Mr. Johnston agreed to Gov.
Blagojevich's request for a $100,000 campaign contribution ? which
were never made -- in return for signing 2008 legislation to
benefit the Debtors and the state's three thoroughbred tracks.

In their Petitions, the Debtors each disclosed $10 million to $50
million in assets and $50 million $100 million.  The Petitions
were signed by John A. Johnston, president.  Judge Donald R
Cassling presides over the case.  Chicago Tribune says that the
two Chapter 11 cases will be heard jointly.

Alexander F Brougham, Esq., Chad H. Gettleman, Esq., and Nathan Q.
Rugg, Esq., at Adelman & Gettleman, Ltd., serve as the Debtors'
bankruptcy counsel.

                          Balmoral Racing

Balmoral Racing Club, Inc., owns and runs its races at Balmoral
Park in Crete, Illinois.


BALMORAL RACING: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor affiiates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                        Case No.
     ------                                        --------
     Balmoral Racing Club, Inc.                    14-45711
     26435 S. Dixie Highway
     Crete, IL 60417

     Maywood Park Trotting Association, Inc.       14-45718
     8600 W. North Avenue
     Melrose Park, IL 60160

Type of Business: Balmoral owns and runs its races at Balmoral
                  Park, located in Crete, Illinois.

Chapter 11 Petition Date: December 24, 2014

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

Judge: Hon. Donald R Cassling

Debtors' Counsel: Alexander F Brougham, Esq.
                  ADELMAN & GETTLEMAN, LTD.
                  53 W. Jackson Blvd., Suite 1050
                  Chicago, IL 60604
                  Tel: (312) 435-1050
                  Email: abrougham@ag-ltd.com

                    - and -

                  Chad H. Gettleman, Esq.
                  ADELMAN & GETTLEMAN, LTD.
                  53 West Jackson Boulevard, Suite 1050
                  Chicago, IL 60604
                  Tel: 312 435-1050 Ext. 215
                  Fax: 312 435-1059
                  Email: cgettleman@ag-ltd.com

                    - and -

                  Nathan Q. Rugg, Esq.
                  ADELMAN & GETTLEMAN, LTD.
                  53 W. Jackson Blvd., # 1050
                  Chicago, IL 60604
                  Tel: 312 435-1050
                  Email: nrugg@ag-ltd.com

                                    Total         Total
                                   Assets         Debts
                                 -----------    ------------
Balmoral Racing Club             $10MM-$50MM    $50MM-$100MM
Maywood Park Trotting            $10MM-$50MM    $50MM-$100MM

The petitions were signed by John A. Johnston, president.

List of Balmoral Racing Club's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
Brittany Goodman                   Host fees and          $21,139
Amwest Entertainment LLC           Settlements
13011 W. Highway 42, Ste. 107
Prospect Heights, KY 40059
502-292-1075 x3

Delta Downs                        Host fees and          $38,611
                                   settlements

Des Plaines Development LP         Litigation/Stayed  $21,801,000
c/o Robert M. Andalman             Judgment
A & G Law LLC
Chicago, IL 60605
312-341-3900

Elgin Riverboat Resort-            Litigation/Stayed  $26,037,000
Riverboat Casino                   Judgment
c/o Robert M. Andalman
A & G Law LLC
Chicago, IL 60605
312-341-3900

Elite Turf Club                    Host Fees and          $76,055
                                   Settlements

Empress Casino Joliet              Litigation/Stayed  $12,624,000
Corporation                        Judgment
c/o Robert M. Andalman
A & G Law LLC
Chicago, IL 60605
312-341-3900

Hollywood Casino-Aurora, Inc.      Litigation/Stayed  $17,358,000
c/o Robert M. Andalman             Judgment
A & G Law LLC
Chicago, IL 60605
312-341-3900

Illinois Harness Horsemen's        Control Daily          $68,716
Association                        Assoc. Fee and
                                   Bike Claim

MidAmerican Energy Company         Contract Electricity   $83,341

Monarch Content Management         Host fees and          $21,111
                                   settlements

New Meadowlands Racetrack, LLC     Host fees and          $25,536
                                   Settlements

Northfield Park Associaties LLC    Host fees and          $44,975
                                   settlements

Penn National c/o MRTA             Host fees and          $29,064
                                   settlements

Pompano Park Assoc.                Host fees and          $33,954
                                   settlements

Red Mile c/o Lexington Trots       Host fees and          $22,480
Breeders As                        settlements

RGS Red Rock Administrative        Host fees and         $226,675
Services                           settlements

Roberts Communications             Goods-Decoder          $66,009
Network                            Fees and services

Woodbine Entertainment             Host fees and          $69,787
                                   settlements

Xpressbet                          Host fees and          $49,017
                                   settlements

Yonkers Raceway                    Host fees and          $22,665
                                   settlements

List of Maywood Park's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Arlington Park International       2014 Host Track        $27,746
Race Course                        Expenses

Churchill Downs                    Settlement &          $116,066
                                   Simulcast Fees

Cook County Collector              1% Handle Tax          $69,000
                                   for ILLOTB/itw
                                   taxes/taxes

Del Mar Thoroughbred Club          Settlement &           $21,298
                                   Simulcast fees

Delta Downs                        Settlement &
                                   Simulcast fees         $45,493

Des Plaines Development LP         Litigation/        $21,801,000
A & G Law LLC                      Stayed Judgment
542 S. Dearborn St., 10th Fl.
Chicago, IL 60605
Tel: 312-341-3900

DuPage County Treasurer            1% Handle Tax          $24,500
                                   for ILLOTB

Elgin Riverboat Resort-Riverboat   Litigation/        $26,037,000
Casino                             Stayed Judgment
c/o Robert M. Andalman
A & G Law LLC
Chicago, IL 60605
312-341-3900

Empress Casino Joliet Corporation  Litigation/        $12,624,000
c/o Robert M. Andalman             Stayed Judgment
A & G Law LLC
Chicago, IL 60605
312-341-3900

Evangeline Downs                   Settlement &           $21,101
                                   Simulcast Fees

Hawthorne Race Course              Purse & Comm and       $64,800
                                   2014 Host Track
                                   Expenses

Hollywood Casino-Aurora, Inc.      Litigation/        $17,358,000
c/o Robert M. Andalman             Stayed Judgment
A & G Law LLC
542 S. Dearborn St., 10th Floor
Chicago, IL 60605

Northfield Park                    Settlement &           $58,480
                                   Simulcast Fees

Ohio Settlement Agent              Settlement &           $26,947
                                   Simulcast Fees

Pari Global Solutions, Inc.        Settlement &           $68,833
                                   Simulcast Fees

Premier Gateway International      Settlement &           $26,099
                                   Simulcast Fees

Remington Park                     Settlement &           $24,818
                                   Simulcast Fees

Village of Melrose Park            Water & Sewer          $40,000

Woodbine                           Settlement &           $47,710
                                   Simulcast Fees

Yonkers Raceway                    Settlement &           $23,269
                                   Simulcast Fees


BANESCO USA: Fitch Affirms 'B+' IDR; Outlook Stable
---------------------------------------------------
Fitch Ratings has affirmed the Long-and Short-term IDRs of Banesco
USA (BNSC) at 'B+' and 'B', respectively.  The Rating Outlook is
Stable.  Fitch's rating action follows the downgrade of Banesco
Banco Universal (BBU).

KEY RATING DRIVERS - IDRs, VR

In Fitch's view, BNSC's ratings are not immediately impacted by
the downgrade of BBU.  Although BNSC is affiliated with the
Banesco Group and shares a common ownership, BNSC does not
incorporate a holding company structure, and there is no direct
ownership linkage to BBU.  BNSC benefits from the 'Banesco' brand
and its strong recognition in Latin America and is a market leader
in Venezuela through BBU, Venezuela's largest privately held bank
in terms of deposit and assets.

Fitch notes that there may be risks to BNSC's Venezuelan
depositors seeking other U.S. based-banking institutions to
deposit their monies in the event of concern regarding BNSC or the
Banesco Group.  However, to date, BNSC has actually benefited from
its association with the Banesco brand, despite volatility in
Venezuela, as demonstrated by its stable deposit base.  Should a
change in depositor behavior becoming prevelant, BNSC's ratings
may come under review.

The funding structure is largely core deposit driven and benefits
from a high volume of international deposits, which make up 61% of
total deposits.  The majority of international funding is sourced
from Venezuelan depositors who have turned to U.S. banks as a safe
haven.  These deposits typically have a very low attrition rate,
limited rate sensitivity and provide a stable source of low cost
funding.  In an effort to reduce reliance on Venezuelan funding,
management has been working to grow domestic deposits in
conjunction with loan growth.  Fitch views the diversification of
funding sources positively.  Furthermore, BNSC maintains a high
level of liquid assets to support immediate cash needs.

BNSC's IDRs are currently constrained by low levels of
profitability, its geographic and product concentration to the
South Florida CRE market, and exposure to non-domestic credit
markets.  Conversely, the capital base and stable funding profile
provide support to the credit profile and ratings.  Although
credit performance has remained solid over the past seven quarters
and dramatically improved since the financial crisis, asset
quality indicators may be benefitting from the rapid loan
portfolio growth BNSC has experienced.

Fitch considers BNSC's credit risk profile to be reflective of the
rating.  The company has exhibited strong growth, particularly in
CRE and commercial credits, in recent years.  Moreover, Fitch also
considers BNSC to be product and geographically concentrated as
CRE represents 400% of capital and is mainly in the Miami-Dade
MSA.  Additional credit risk considerations include the effects of
sovereign risk in the international loan portfolio which makes up
approximately 11% of total loans.  Over half of the international
portfolio consists of exposure to borrowers in Venezuela and is
mainly secured by residential, and to a lesser extent CRE
properties in South Florida.  Although economic instability
remains a concern in Venezuela, credit risk is offset by the
strong level of collateral protection and prudent non-resident
credit underwriting standards.

BNSC's credit rating benefits from a solid capital structure.  As
Sept. 30, 2014, the company's Fitch core capital/risk-weighted
assets ratio was 13.23% and its tangible common equity/tangible
assets ratio was 9.32%.  Fitch considers the capital base
sufficient to support risks within the business mix; however,
further balance sheet growth coupled with limited profitability
have the potential to adversely impact capital ratios.  Moreover,
the lack of access to external capital is considered a rating
constraint.

BBU's downgrade was triggered by the rating action of the country
Venezuela's IDR to 'CCC' from 'B' due to the country's high
commodity dependence which has been negatively impacted by the
significant decline in international oil prices pressuring
financing flexibility and rising macroeconomic instability.  For
further details, please see 'Fitch Downgrades Venezuela's IDRs to
'CCC'' on Dec. 18, 2014.  Additionally, the ratings of banks
operating in Venezuela are constrained due to government control
over the financial sector and broader economy as well as high
exposure to the public sector.

RATING SENSITIVITIES - IDRs, VR

Sustained and improved profitability combined with the maintenance
of strong credit performance, solid capital and liquidity levels
would be considered positive rating drivers.  Given BNSC's ties to
the Banesco Group and in particular the Venezuelan deposit base,
positive rating momentum would only occur following stabilization
of the operating environment in Venezuela.

Ratings could be negatively affected if BNSC experienced a
declining trend in its depositor base and/or r unexpected events
that impact Banesco Group.

Other negative rating action trigger would be excess growth in
high risk lending segments, which Fitch believes may result in
comprising underwriting.  Considering the recent trends and
updated growth plans, Fitch considers this a relatively low
likelihood.

KEY RATING DRIVERS - SUPPORT RATING AND SUPPORT RATING FLOOR

BNSC has a Support Rating of '5' and Support Rating Floor of 'NF'.
In Fitch's view, BNSC is not systemically important and therefore,
the probability of support is unlikely.  The IDRs and VRs do not
incorporate any support.  Historically, BNSC's principal
shareholders have demonstrated a willingness to provide capital;
however, Fitch's rating analysis does not assume capital support
from the shareholders

RATING SENSITIVITIES - SUPPORT RATING AND SUPPORT RATING FLOOR

BNSC's Support Rating and Support Rating Floor are sensitive to
Fitch's assumption around capacity to procure extraordinary
support in case of need.

KEY RATING DRIVERS - LONG AND SHORT-TERM DEPOSIT RATINGS

BNSC's uninsured deposit ratings are rated one notch higher than
the company's IDR because U.S. uninsured deposits benefit from
depositor preference. U.S. depositor preference gives deposit
liabilities superior recovery prospects in the event of default.

RATING SENSITIVITIES - SUBORDINATED DEBT AND OTHER HYBRID
SECURITIES

The ratings of long- and short-term deposits issued by BNSC are
primarily sensitive to any change in BNSC's long- and short-term
IDRs.

Fitch affirms these ratings:

Banesco USA (BNSC)

   -- Long-term IDR at 'B+'; Outlook Stable;
   -- Short-term IDR at 'B';
   -- Long-term deposits at 'BB-';
   -- Short-term deposits at 'B';
   -- Viability at 'b+';
   -- Support at '5';
   -- Support Floor at 'NF'.


BENTLEY PREMIER: Wants Final Decree Closing Reorganization Case
---------------------------------------------------------------
Bentley Premier Builders, LLC, now known as Starside Custom
Builders, LLC, asks the Bankruptcy Court to enter a final decree
closing its Chapter 11 case.  According to the Reorganized Debtor,
the Plan was confirmed and has been substantially consummated.
The Reorganized Debtor has paid its U.S. Trustee's fees and has
satisfied its administrative requirements.

                       About Bentley Premier

Bentley Premier Builders, LLC, is a Texas limited liability
company in the business of selling high-end residential lots and
building high-quality luxury homes.  The Debtor owns and develops
lots, primarily in the two subdivisions known as Normandy Estates,
which straddles both Denton and Collin Counties, near the
intersection of Spring Creek Parkway and Midway Road in Plano, and
Wyndsor Pointe, which is located in Frisco off Stonebrook Parkway,
one-half mile west of the Dallas North Tollway.  The company has
100 vacant residential lots, with listing prices ranging from
$150,000 to $900,000.  In addition to these vacant lots, the
company owns a model house and an Amenities Center in Normandy
Estates, two houses in Wyndsor Pointe, some common areas and an
approximately 5-acre tract zoned for commercial use.

Bentley filed a Chapter 11 petition (Bankr. E.D. Tex. Case No.
13-41940) on Aug. 6, 2013 in Sherman, Texas.  The Debtor disclosed
$35,793,857 in assets and $30,428,782 in liabilities as of the
Chapter 11 filing.

The Phillip M. Pourchot Revocable Trust (led by co-trustee Phillip
M. Pourchot) and Sandy Golgart each hold a 50% member's interest
in the Debtor.  Ms. Golgart signed the bankruptcy petition.

The Debtor sought bankruptcy after Starside LLC, an entity owned
by Phillip Pourchot, acquired the note issued to Sovereign Bank
for a $7,250,000 loan, and served notice of its attempt to
foreclose upon properties securing the note.

Gerald P. Urbach, Esq., and Jason A. Katz, Esq., at Hiersche,
Hayward, Drakeley & Urbach, P.C., in Addison, Texas, serve as the
Debtor's counsel.

Judge Brenda Rhoades presides over the case.

A Chapter 11 trustee was appointed following motions filed by the
U.S. Trustee and the Pourchot Trust.  Jason R. Searcy, the Chapter
11 trustee, tapped to employ Joshua P. Searcy, Esq., at Searcy &
Searcy, P.C. as attorneys, and Gollob, Morgan, Peddy & Co., P.C.,
as accountants.

The deadline to file claims against and interest in the Debtor
was Dec. 5, 2013.  Governmental entities had until Feb. 3, 2014,
to file proofs of claim.

Golgart is represented by Mark A. Castillo, Esq., and Joshua L.
Shepherd, Esq., at Curtis | Castillo PC; and John T. Palter, Esq.,
and Kimberly M. J. Sims, Esq., at Palter Stokley Sims Wright PLLC.

The Pourchot Parties are represented by Mark E. Andrews, Esq., and
Aaron M. Kaufman, Esq., at Cox Smith Matthews Incorporated; and
Laura L. Worsham, Esq., and Lynn Schleiner, Esq., at Jones, Allen
& Fuquay, LLC.


BIOLIFE SOLUTIONS: Annual Meeting of Stockholders Set for May 4
---------------------------------------------------------------
BioLife Solutions, Inc., will hold its 2015 annual meeting of
stockholders on May 4, 2015.

Because the expected date for the Annual Meeting represents a
change of more than 30 days from the anniversary of the Company's
2014 annual meeting of stockholders held on Aug. 6, 2014, the
Company has set a new deadline for receipt of stockholder
proposals for inclusion in the Company's proxy statement for the
Annual Meeting, pursuant to Rule 14a-8 of the Securities Exchange
Act of 1934, as amended, of Jan. 15, 2015.  Any such proposals
must contain certain specified information, including, among other
things, information as would be required to be included in a proxy
statement under Securities and Exchange Commission rules.  All
proposals or other notices should be addressed to the Company at
3303 Monte Villa Parkway, Suite 310, Bothell, Washington 98021,
Attention: Chief Financial Officer.  The proxies that the Company
solicits for the 2015 Annual Meeting will confer discretionary
authority on the proxy holders to vote on any stockholder proposal
presented at that meeting, unless the Company receives notice of
such stockholder's proposal not later than Feb. 6, 2015.

                      About BioLife Solutions

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

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

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


BIOLIFE SOLUTIONS: Files Post-Effective Amendment to Form S-1
-------------------------------------------------------------
BioLife Solutions, Inc., filed with the U.S. Securities and
Exchange Commission a post-effective amendment to its registration
statement on Form S-1 relating to the sale by the Company of up to
3,604,651 units, with the Units consisting in the aggregate of (1)
3,604,651 shares of the Company's common stock  and (2) 3,604,651
warrants exercisable for an aggregate of 3,604,651 Common Shares.

The Company sold 3,588,878 of the Units pursuant to the
Registration Statement on March 25, 2014.  None of the Warrants
have been exercised, and all of the Warrants remain outstanding
and exercisable for the Warrant Shares.

The Company's common stock is listed on The NASDAQ Capital Market
under the symbol "BLFS".  On Dec. 23, 2014, the Company's common
stock closed at $1.81 per share.

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

                       http://is.gd/hbhPa9

                     About BioLife Solutions

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

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

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


BIOLITEC INC: Court Won't Vacate Order Expunging Insiders' Claim
----------------------------------------------------------------
Judge Donald H. Steckroth of the U.S. Bankruptcy Court for the
District of New Jersey denied the motion filed by Kelly Moran and
Carol Morello (the "New Jersey Plaintiffs") to vacate this Court's
August 19, 2014 Order expunging their proof of claim in the
Chapter 11 case of Biolitec, Inc.

The New Jersey Plaintiffs are shareholders and insiders of the
Debtor, the United States affiliate of a multi-national group of
companies in the business of manufacturing and distributing
medical lasers and fiber optic devices, pharmaceuticals, and
industrial fiber optics.  The corporate structure of the Debtor
and its various subsidiaries and affiliates is complex.  The New
Jersey Plaintiffs own 10% of the Debtor, while the remaining 90%
is owned by Biolitec AG.  Wolfgang Neuberger is the President,
Chief Executive Officer, and Chairman of the Board of Directors of
the Debtor, and the sole owner of Biomed Technology Holdings,
Ltd., which owns 74.3% of Biolitec AG.  While it is not disputed
that Mr. Neuberger had significant control over the operations of
the Debtor and its related entities, the extent of the New Jersey
Plaintiffs' knowledge and involvement in the Debtor's financing
transactions and day to day operations is disputed.

On June 29, 2009, the New Jersey Plaintiffs filed a complaint
against the Debtor, Biolitec AG, Mr. Neuberger, and Biomed in the
Superior Court of New Jersey, Chancery Division, Mercer County,
Docket No. C-63-09, asserting a cause of action under New Jersey's
shareholder oppression statute for Mr. Neuberger's alleged
oppressive conduct, fraud, and looting of the Debtor's assets.

In their motion, the New Jersey Plaintiffs argue that the
expungement should be vacated pursuant to Rule 60(b) of the
Federal Rules of Civil Procedure because they have an allowable
claim against the Debtor and the Order was entered in error after
they failed to respond to an objection to the claim due to a
misunderstanding regarding the scheduling of the hearing date.

The Motion is opposed by Biolitec Holdings U.S., Inc., Biolitec
Medical Devices, Inc., and CeramOptec Industries, Inc.
(collectively, the "Non-Debtor Affiliates") and by Melanie L.
Cyganowski, the Chapter 11 Trustee (the "Trustee") for the Estate
of the Debtor.  The Non-Debtor Affiliates and the Trustee argue
that the Motion should be denied because the claim was properly
expunged and that grounds to vacate the order under Rule 60(b) are
not present.

While it is within a court's discretion to set aside a final
judgment when required in the interest of justice, relief under
Rule 60(b) is "extraordinary" and should only be granted in
"exceptional" circumstances, the Court said.  Judge Steckroth
explained that the misunderstanding cited by counsel does not
constitute an "extraordinary" circumstance that justifies relief
under Rule 60(b) because the New Jersey Plaintiffs had the burden
of proving the sufficiency of their claim and there is no
reasonable explanation for their failure to respond to the
Objection.

"Given that the New Jersey Plaintiffs had the burden of proof,
there is no reasonable explanation for their failure to defend
their claim in the more than two months that transpired between
the date the Objection was filed and the hearing," Judge Steckroth
opined.

A full-text copy of the November 26, 2014 Opinion is available at
http://bit.ly/1HJVQ2ifrom Leagle.com.

The New Jersey Plaintiffs are represented by:

          Eric R. Levine, Esq.
          Peter Reiser, Esq.
          EISEMAN LEVINE LEHRHAUPT & KAKOYIANNIS, P.C.
          805 3rd Avenue
          New York, NY 10022
          Telephone: (212) 752-1000
          E-mail: preiser@eisemanlevine.com

               - and -

          Laurence May, Esq.
          Kenneth L. Baum, Esq.
          COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
          Court Plaza North
          25 Main Street
          Hackensack, NJ 07601
          Telephone: (201) 489-3000
          Facsimile: (201) 489-1536
          E-mail: lmay@coleschotz.com
                  kbaum@coleschotz.com

Parties-in-Interest, Biolitec AG, BioMed Technology Holdings,
Ltd., CeramOptec Industries, Inc., and Wolfgang Neuberger are
represented by:

          Joseph J. DiPasquale, Esq.
          Henry M. Karwowski, Esq.
          TRENK, DIPASQUALE, DELLA, FERA & SODONO, P.C.
          347 Mount Pleasant Avenue, Suite 300
          West Orange, NJ 07052
          Telephone: (973) 243-8600
          Facsimile: (973) 243-8677
          E-mail: jdipasquale@trenklawfirm.com
                  hkarwowski@trenklawfirm.com

               - and -

          Edward Griffith, Esq.
          THE GRIFFITH FIRM
          235 W 76Th St., Suite 6C
          New York, NY 10023

The Chapter 11 Trustee is represented by:

          Brian T. Crowley, Esq.
          MCDONNELL CROWLEY HOFMEISTER, LLC
          115 Maple Avenue, Suite 201
          Red Bank, NJ 07701
          Telephone: (732) 383-7233
          Facsimile: (732) 383-7531
          E-mail: bcrowley@mcdonnellcrowley.com

               - and -

          David Posner, Esq.
          OTTERBOURG, STEINDLER, HOUSTON & ROSEN, P.C.
          230 Park Avenue
          New York, NY 10169-0075
          Telephone: (212) 661-9100
          Facsimile: (212) 682-6104
          E-mail: dposner@otterbourg.com

Creditor AngioDynamics, Inc. is represented by:

          Douglas J. McGill, Esq.
          WEBBER MCGILL LLC
          760 Route 10, Suite 104
          Whippany, NJ 07981
          Telephone: (973) 739-9559
          Facsimile: (973) 739-9575
          E-mail: dmcgill@webbermcgill.com

               - and -

          Joseph Zagraniczny, Esq.
          Stephen A. Donato, Esq.
          Sara C. Temes, Esq.
          BOND SCHOENECK & KING, PLLC
          One Lincoln Center
          110 West Fayette Street
          Syracuse, NY 13202-1355
          Telephone: (315) 218-8000
          Facsimile: (315) 218-8100
          E-mail: jzagraniczny@bsk.com
                  sdonato@bsk.com
                  stemes@bsk.com

                        About Biolitec Inc.

Biolitec, Inc., is a member of the Biolitec Group, a multinational
group of affiliated companies that is a global market leader in
the manufacture and distribution of fiber optic devices and
products such as medical lasers and fibers, photo-pharmaceuticals
and industrial fiber optics.  Biolitec AG, a German public company
listed on the highly regulated Prime Standard segment of the
Frankfurt stock exchange, is the ultimate parent of the Debtor.

Biolitec, Inc., filed a Chapter 11 petition (Bankr. D.N.J. Case
No. 13-11157) on Jan. 22, 2013, to stop competitor AngioDynamics
Inc. from collecting $23 million it won in a breach of contract
lawsuit.  Brian K. Foley signed the petition as chief operating
officer.  In its schedules, the Debtor listed $8,986,073 in assets
and $46,286,763 in liabilities.


BOYD GAMING: Bank Debt Trades at 2% Off
---------------------------------------
Participations in a syndicated loan under which Boyd Gaming is a
borrower traded in the secondary market at 97.85 cents-on-the-
dollar during the week ended Friday, December 27, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 1.35
percentage points from the previous week, The Journal relates.
Boyd Gaming pays 300 basis points above LIBOR to borrow under the
facility.  The bank loan matures on August 12, 2020, and carries
Moody's Ba3 rating and Standard & Poor's BB- rating.  The loan is
one of the biggest gainers and losers among 212 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


BUFFET PARTNERS: Bailey Brauer Wins Court Battle Over Back Taxes
----------------------------------------------------------------
Attorneys from the Dallas complex litigation boutique Bailey
Brauer PLLC won a court battle over the filing and payment of back
taxes for Buffet Partners L.P., the former parent company of
Furr's Cafeteria.

In a Dec. 17 ruling, Judge Harlin DeWayne Hale of the U.S.
Bankruptcy Court for the Northern District of Texas ordered
Atlanta-based Chatham Credit Management III LLC (CCM) to file and
pay Buffet Partners' 2013 and 2014 taxes and preparation expenses,
the combined total of which could be as much as $130,000.

In April, CCM purchased the assets of San Antonio-based Buffet
Partners, including Furr's Cafeteria, just two months after Buffet
Partners filed for bankruptcy protection.  Shortly after, CCM
resold the same assets to Arizona-based Fresh Acquisitions LLC,
which has since rebranded the Furr's franchise as Furr's Fresh
Buffet.

Although the purchase agreement between CCM and Buffet Partners
required CCM to file Buffet Partners' tax returns and pay the
taxes and preparation expenses, CCM repeatedly refused to do so,
says Bailey Brauer named partner Alex Brauer.  He represents
Buffet Partners Holding Co. LLC (BPHC), which owns Buffet Partners
and its general partner, Buffet G.P. Inc. BPHC did not file
bankruptcy and participated solely as the equity interest holder
of Buffet Partners and Buffet G.P.

"Chatham Credit's purchase and immediate asset resale left Buffet
Partners without the resources necessary to wind up their
corporate affairs, including filing and paying their taxes,"
Mr. Brauer says.

The situation was complicated by the fact that Chatham Credit is
an affiliate of Chatham Capital Partners Inc., which holds the
vast majority of Buffet Partners' debt and essentially controls
the company.

"Chatham Capital has used its unique position to maximize its own
recovery in the bankruptcy at the expense of other creditors,"
says Ben Stewart, of counsel to Bailey Brauer and co-counsel in
the case.  "We're grateful to Judge Hale for requiring Chatham to
abide by the agreements the company willingly signed."

Bailey Brauer PLLC is committed to providing efficient, effective
legal representation in high-stakes litigation.  Led by
experienced trial and appellate lawyers Clayton Bailey and Alex
Brauer, the firm focuses on complex commercial litigation,
agribusiness, appeals, and class and collective actions.

                      About Buffet Partners

Buffet Partners, L.P., owns and operates Furr's Fresh Buffet, a
restaurant chain with 29 restaurants in Arizona, Arkansas, New
Mexico, Oklahoma and Texas.  With a 65+ year operating history,
Furr's -- http://www.furrs.net/-- operates straight-line and
scatter-bar buffet units that feature a variety of all-you-can-eat
and home-cooked foods served at an affordable price.  Buffet
Partners was formed to purchase Furr's in September 2003.

Headquartered in Plano, Texas, Buffet Partners and an affiliate
sought Chapter 11 protection in Dallas (Bankr. N.D. Tex. Case No.
Case No. 14-30699) on Feb. 4, 2014.

Attorneys at Baker & McKenzie LLP serve as counsel to the Debtors.
Bridgepoint Consulting is the financial advisor.

Buffet Partners disclosed $33,281,729 in assets and $48,926,256 in
liabilities as of the Chapter 11 filing.

William T. Neary, U.S. Trustee for Region 6, appointed five
creditors to serve in the Official Committee of Unsecured
Creditors.  Bradford J. Sandler, Esq., at Pachulski Stang Ziehl &
Jones LLP serves as its counsel.  Mesirow Financial Consulting,
LLC, serves as its financial advisors.

The restaurant was founded in 1946 by Roy Furr, and expanded to
approximately 60 locations as a family-owned business for over 35
years.  In 1980, it was acquired by Kmart Corporation.  Kmart
ultimately sold Furr's in a leveraged buy-out which subsequently
went public in 1986.  Following a take-private transaction, the
Company entered a period of decline due to its debt burden,
culminating in a restructuring and reorganization under chapter 11
in 2003 in Dallas, Texas.


CAESARS ENTERTAINMENT: Five Law Firms Advise Cos. in Merger
-----------------------------------------------------------
Nell Gluckman at The AM Law Daily reports that these five AM Law
100 firms play role in the merger of Caesars Entertainment
Corporation and Caesars Acquisition Company:

      a. Latham & Watkins, counsel to CAC: corporate partners
         Raymond Lin, Stephen Amdur, Charles Ruck, and Michael
         Treska; finance and banking partner Mark Broude;
         litigation partner Christopher Harris; benefits and
         compensation partner Bradd Williamson; tax partner David
         Raab; and Latham associates Matthew Dewitz, Lori Goodman,
         Kristian Herrmann, and Liliana Parias Neuburg;

      b. Skadden, Arps, Slate, Meagher & Flom, counsel to CAC's
         board of director's special committee: corporate partners
         Rodrigo Guerra Jr. and Andrew Garelick; corporate
         restructuring partner Van Durrerr II; litigation partner
         Eric Waxman; tax partner Kenneth Betts; federal income
         tax partner Andre LeDuc; and associates Allison Hunter,
         Annie Li, and Barbara Swensied

      c. Paul, Weiss, Rifkind, Wharton & Garrison, counsel to CEC:
         John Scott and Brian Finnegan, both partners in the
         firm's corporate department and members of its mergers
         and acquisitions group;

      d. Reed Smith, counsel to CEC's special committee: M&A
         partner Howard Shecter, corporate partner Glenn Mahone,
         and associates Adam Cohen and Ken Siegel; and

      e. Weil, Gotshal & Manges, counsel to Centerview Partners,
         the financial adviser to CEC's special committee:
         corporate partner Matthew Gilroy; business, finance and
         restructuring partner Michael Walsh; and securities
         litigation partner John Neuwirth, as well as associates
         Evert Christensen, John Godfrey and Frank Martire.

                    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.

As reported by the TCR on Dec. 18, 2014, Fitch Ratings downgraded
the Issuer Default Rating (IDR) of Caesars Entertainment Operating
Company (CEOC) to 'C' from 'CC'.  The downgrade of the IDR to 'C'
reflects CEOC's missed $223 million interest payment to the
holders of the 10% second lien notes that was due December 15.

As reported by the TCR on Dec. 18, 2014, Moody's Investors Service
downgraded the ratings of Caesars Entertainment Operating Company,
including the corporate family rating, to Ca from Caa3.

As reported by the TCR on Dec. 18, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'D' from 'CCC-' on
Caesars Entertainment Operating Co. Inc. (CEOC), a majority-owned
subsidiary of Caesars Entertainment Corp.

"We lowered the rating as a result of the company's decision not
to pay approximately $225 million in interest that was due on
Dec. 15, 2014 on $4.5 billion of 10% second-priority senior
secured notes due 2015 and 2018," said Standard & Poor's credit
analyst Melissa Long.


CAESARS ENTERTAINMENT: Bank Debt Won't Deter Ch. 11 Plan for Unit
-----------------------------------------------------------------
Lisa Allen, writing for The Deal, reported that Caesars
Entertainment Corp. plans to pursue a mid-January Chapter 11
bankruptcy filing for its debt-laden operating unit with or
without the support of the investors who hold its bank debt,
according to two sources familiar with the situation.

According to the report, multiple bank debt investors have pulled
out of restructuring negotiations over the last two months and the
informal committee of bank lenders' exit from talks on Dec. 10 has
led observers to question that debt class's support for the
restructuring plan that's backed by a steering committee of first-
lien bondholders.  Still, as long as at least 60% of first-lien
bondholders pledge their support for the restructuring plan, a
mid-January bankruptcy filing will go forward, The Deal said,
citing a first-lien bondholder, who asked to remain unnamed.

     About Caesars Entertainment Operating Company Inc.

Caesars Entertainment Operating Company, Inc., a majority owned
subsidiary of Caesars Entertainment Corporation, provides casino
entertainment services and owns, operates or manages 44 gaming and
resort properties in 13 states of the United States and in five
countries primarily under the Caesars, Harrah's and Horseshoe
brand names.

                          *     *     *

The all-stock deal, according to David Gelles, writing for The New
York Times' DealBook, will leave Caesars Entertainment with $1.7
billion in cash, much of which will be used to fund the
bankruptcy.  The DealBook said that the move, for creditors, is
good news, bringing several of the best Caesars properties back
into the parent company and avoiding the assumption of more debt.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a steering committee representing holders of
38 percent of first-lien creditors of Caesars Entertainment
Operating Co. Inc. has signed an agreement laying out the terms of
a Caesars Entertainment Operating Chapter 11 reorganization to
start around mid-January.

According to the Bloomberg report, the restructuring is contingent
on signing up a total of 60 percent of first-lien bondholders by
Jan. 5.  To be effective, the deal also requires that holders of
two-thirds of the senior bonds must sign up before the bankruptcy
filing on Jan. 15 or not later than Jan. 30, the Bloomberg report
related.

                   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.


CAESARS ENTERTAINMENT: Extends Restructuring Agreement Deadlines
----------------------------------------------------------------
Caesars Entertainment Corporation, Caesars Entertainment Operating
Company, Inc., a majority owned subsidiary of CEC, and holders of
over 38% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 agreed to extend certain
deadlines set forth in the Restructuring Support and Forbearance
Agreement, dated as Dec. 19, 2014, among CEC, CEOC and the
Consenting Creditors, the entry of which was previously announced
by CEC and CEOC on Dec. 19, 2014.  The Parties agreed to:

   (i) extend from noon on Dec. 24, 2014, to 5:00 p.m., New York
       City time, on Dec. 28, 2014, the time by which the Parties
       are obligated to reach an agreement with respect to the
       remaining terms of the operating leases and the Management
       and Lease Support Agreement;

  (ii) extend from Dec. 24, 2014, to Dec. 29, 2014, the date by
       which any holder of the First Lien Notes may sign the RSA
       and have the option to elect to join the backstop for the
       $300 million of preferred equity of the restructured
       property company;

(iii) Jan. 5, 2014, as the date by which allocations must be
       determined among the Preferred Backstop Investors for the
       Preferred PropCo Equity; and

  (iv) extend from 5:00 p.m., New York City time, on Jan. 5, 2014,
       to 5:00 p.m., New York City time, on Jan. 9, 2015, the time
       until which creditors holding at least 60% of the First
       Lien Bond Claims must sign the RSA for the RSA to become
       effective.

                    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.

As reported by the TCR on Dec. 18, 2014, Fitch Ratings downgraded
the Issuer Default Rating (IDR) of Caesars Entertainment Operating
Company (CEOC) to 'C' from 'CC'.  The downgrade of the IDR to 'C'
reflects CEOC's missed $223 million interest payment to the
holders of the 10% second lien notes that was due December 15.

As reported by the TCR on Dec. 18, 2014, Moody's Investors Service
downgraded the ratings of Caesars Entertainment Operating Company,
including the corporate family rating, to Ca from Caa3.

As reported by the TCR on Dec. 18, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'D' from 'CCC-' on
Caesars Entertainment Operating Co. Inc. (CEOC), a majority-owned
subsidiary of Caesars Entertainment Corp.

"We lowered the rating as a result of the company's decision not
to pay approximately $225 million in interest that was due on
Dec. 15, 2014 on $4.5 billion of 10% second-priority senior
secured notes due 2015 and 2018," said Standard & Poor's credit
analyst Melissa Long.


CAMARILLO PLAZA: Final Decree Entered; Reorganization Case Closed
-----------------------------------------------------------------
The Bankruptcy court entered a final decree closing the Chapter 11
case of Camarillo Plaza, LLC.

As reported in the Troubled Company Reporter on Oct. 8, 2014, the
Debtor said that the order confirming the Plan has become final.
The Plan was confirmed on Sept. 30, 2013.  The Court-approved sale
has been consummated; all creditors provided for in the Plan have
been paid; and there are no pending proceedings in which the
Debtor may be found guilty of felony.

As reported in the TCR on Dec. 16, 2013, the Bankruptcy Court
confirmed the Debtor's Third Amended Plan of Reorganization.

Upon receipt of proceeds of the sale of Debtor's property,
Debtor's counsel, Janet A. Lawson, Esq., will place $500,000 in a
separate attorney trust fund account as a reserve to pay for the
disputed claims of Brendan's Irish Pub & Restaurant and Ramiro
Martinez against Debtor's estate and promptly cure all defaults of
Debtor (if any), under the leases Debtor has assumed and assigned
to the buyer of Debtor's property.

As reported in the TCR on Aug. 27, 2013, the Debtor filed with the
Bankruptcy Court a third amended Chapter plan of reorganization
that will be funded through the all-cash sale of the Debtor's
74,072 square foot shopping center commonly known as Camarillo
Plaza and the underlying real property, located at 1701-1877 East
Daily Drive, in Camarillo, California to be conducted via a
competitive bidding process.  Following consummation of the sale,
there will be net cash proceeds sufficient to satisfy all allowed
claims.

The Debtor and the Wells Fargo Bank, N.A., as Trustee for the
Registered Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Pass-Through Certificates, Series
2006-C3, entered into the stipulation regarding Claim 3-1 filed by
Wells Fargo.  The parties agreed that as of July 15, 2013, the
allowed claim is $15,159,517, subject to adjustments.

General unsecured creditors holding undisputed claims will recover
100% without interest on the Effective Date.

A copy of the Third Amended Plan is available at:

        http://bankrupt.com/misc/camarilloplaza.doc174.pdf

                       About Camarillo Plaza

Shopping center operator Camarillo Plaza LLC, based in Los
Angeles, California, filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-59637) on Dec. 5, 2011.  Judge Sheri Bluebond
was assigned to the case.  At the Debtor's behest the next day,
the case was transferred to the Northern Division (Bankr. C.D.
Calif. Case No. 11-bk-15562).  The case in the Los Angeles
Division was closed, and Judge Robin Riblet took over from Judge
Bluebond.

The Debtor scheduled assets of $21.6 million and liabilities of
$12.3 million as of the Chapter 11 filing.  Janet A. Lawson, Esq.,
in Ventura County, California, serves as the Debtor's counsel.
The petition was signed by Aaron Arnold Klein, managing partner.

Alan M. Feld, Esq., at Sheppard, Mullin, Richter & Hampton LLP
represents creditor Wells Fargo Bank, N.A.

On Sept. 12, 2013, the Court approved the sale of the Debtor's
primary asset -- a shopping center located at 1701-1877 East Daily
22 Drive, Camarillo, California.  On Oct. 30, the sale was
consummated and escrow closed.

The Debtor also won confirmation of its Third Amended Plan of
Reorganization on Oct. 30, 2013.  The Plan was funded through the
all-cash sale of the 74,072 square foot shopping center commonly
known as Camarillo Plaza and the underlying real property.

The Debtor and Wells Fargo Bank, N.A., as Trustee for the
Registered Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Pass-Through Certificates, Series
2006-C3, entered into a stipulation regarding Claim 3-1 filed by
Wells Fargo.  The parties agreed that as of July 15, 2013, the
allowed claim is $15,159,517, subject to adjustments.

General unsecured creditors holding undisputed claims will recover
100% without interest on the Effective Date.

As a part of the Plan, $500,000 was ordered to be held in a
segregated attorney trust fund account maintained by Janet A.
Lawson to pay for two disputed claims.  One of those claims has
been resolved leaving $399,196 in the trust fund account.  The
other claim is the one filed by Brendan's Camarillo, LLC.


CENTRIC HEALTH: S&P Keeps B- CCR on Revised Liquidity Assessment
----------------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on Centric
Health Corp. are unchanged following its revision of its liquidity
descriptor on Centric Health to "less than adequate" from
"adequate".  While the company has benefited from a significant
amount of cash proceeds from recent asset divestitures, a portion
of which has been used to repay debt, Centric's C$40 million
senior secured revolver, an important source of financial
flexibility, matures in June 2015.  Furthermore, the company has
also yet to establish a consistent track record of positive free
cash flow generation. Remaining proceeds from the divestitures are
required to be used for acquisitions and/or repayment of debt.

S&P's 'B-' corporate credit rating on Centric reflects its
assessment of the company's business risk profile as "weak" and
financial risk profile as "highly leveraged".  Following its
recent divestitures, the company is refocusing on three core areas
-- physiotherapy, rehabilitation, and wellness; specialty
pharmacy; and surgical and medical centers.  S&P believes the
increased focus will lead to improved margins and cash flow
generation.  However, leverage remains high, at over 9x, and S&P
expects only gradual improvement.

RATINGS LIST

Centric Health Corp.
Corporate Credit Rating    B-/Stable/--
Senior secured notes       B-
  Recovery rating           4


CHARLES FOGARTY: Defendants in Suit vs. Palumbo Win Judgment
------------------------------------------------------------
The Superior Court of Rhode Island in Kent County grants all four
of the Defendants' motions for summary judgment in the
consolidated lawsuit captioned Fogarty v. Palumbo, et al.

The current dispute between the parties involves a 360-acre tract
of land located in Hopkinton, Rhode Island.  The land, known as
the Reserve at Brushy Brook, was owned originally by Mr. Fogarty
in the 1970s.  In 1994, Mr. Fogarty sold the Property from his
Chapter 11 Bankruptcy estate.  An entity called Stone Ridge, Inc.
purchased the Property from Mr. Fogarty's bankruptcy estate.

Stone Ridge is comprised of four shareholders: Plaintiffs Fogarty
and Ottenbacher; Grant Schmidt, M.D.; and William McComb.  In
2002, the Property was transferred from Stone Ridge to Brushy
Brook Development, LLC.  Brushy Brook's sole member was the Stone
Ridge entity.

The Plaintiffs allege to have suffered damages as a result of the
Property's transfer to Boulder Brook LLC, and not to the
Ottenbacher purchasing group.  The Plaintiffs contend their losses
consist of losing their respective share of the land, as well as
the profits which could have been made by developing the Property.
Specifically, the Plaintiffs point to lost profits from
condominium sales, house lots, and revenues generated by a golf
course, exercise facility, and restaurant.

In response, the Defendants move for summary judgment on the
grounds that the Plaintiffs have failed to provide proof, to a
reasonable degree of certainty, as to the amount of lost profits
actually incurred as a result of their offer not being accepted.
By failing to introduce sufficient evidence regarding their
damages, the Defendants claim this controversy is ripe for summary
judgment.

The Plaintiff is represented by:

          Michael T. Finan, Esq.
          FINAN AND GROURKE
          24 Spring Street
          Pawtucket, Rhode Island
          Telephone: (401) 723-6800

               - and -

          Philip J. Laffey, Esq.
          MARSHALL & LAFFEY LTD.
          3 Regency Plaza, Suite 3
          Providence, RI 02903
          Telephone: (401) 727-4100
          Facsimile: (401) 228-6165
          E-mail: plaffey@marshall-laffey.com

The Defendants are represented by:

          Vincent A. Indeglia, Esq.
          INDEGLIA & ASSOCIATES ATTORNEYS AT LAW
          The Summit East, Suite 320
          300 Centerville Road
          Warwick, RI 02886
          Telephone: (401) 886-9240
          E-mail: vincent@indeglialaw.com

               - and -

          Patricia A. Buckley, Esq.
          BENGTSON & JESTINGS, LLP
          40 Westminster Street, Suite 300
          Providence, RI 02903
          Telephone: (401) 331-7272
          Toll free: (866) 657-6250
          Facsimile: (401) 331-4404

A full-text copy of the Decision dated December 1, 2014, is
available at http://bit.ly/1uCU2B5from Leagle.com.

Charles E. Fogarty filed for Chapter 11 bankruptcy in 1994.

The lawsuits are Charles E. Fogarty v. Ralph Palumbo, Pilgrim
Title Insurance and Jonathan Savage, Case No. KB-2008-1073; and
James Ottenbacher v. Ralph Palumbo, Pilgrim Title Insurance and
Jonathan Savage, Case No. KB-2008-1087, in the Superior Court of
Rhode Island for Kent County.


CHINA FRUITS: Has $520K Working Capital Deficit in Third Quarter
----------------------------------------------------------------
China Fruits Corp. filed its quarterly report on Form 10-Q,
reporting net income of $245,000 on $2.86 million of total revenue
for the three months ended Sept. 30, 2014, compared with a net
loss of $62,000 on $662,000 of revenue for the same period in
2013.

The Company's balance sheet at Sept. 30, 2014, showed
$10.6 million in total assets, $7.48 million in total liabilities,
and stockholders' equity of $3.14 million.

As of Sept. 30, 2014, the Company had accumulated deficits of
$1.33 million and working capital deficit of current liabilities
exceeding current assets by $520,000 due to the substantial losses
in operation in prior years and default of its notes payable.
Management has taken certain action and continues to implement
changes designed to improve the Company's financial results and
operating cash flows, according to the regulatory filing.

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

                        http://is.gd/kqx6lz

Headquartered in Nan Feng County, Jiang Xi Province, P.R.C., China
Fruits Corp. was incorporated in the State of Delaware on Jan. 6,
1993 as Vaxcel, Inc.  On Dec. 19, 2000, CHFR changed its name to
eLocity Networks Corporation.  On Aug. 6, 2002, CHFR further
changed its name to Diversified Financial Resources Corporation.
The principal activities of CHFR at that time was seeking and
consummating a merger or acquisition opportunity with a business
entity.  On May 12, 2006, CHFR was re-domiciled to the State of
Nevada.

On May 31, 2006, CHFR completed a stock exchange transaction with
Jiangxi Taina Guo Ye Yon Xian Gong Si ("Tai Na").  Tai Na was
incorporated as a limited liability company in the P.R.C. on
Oct. 28, 2005, with its principal place of business in Nanfeng
Town, Jiangxi Province, the P.R.C.  Tai Na is principally engaged
in manufacturing, trading, and distributing of Nanfeng tangerine,
and operating franchise retail stores for fresh fruits through its
wholly-owned subsidiary, Tai Na International Fruits (Beijing) Co.
Ltd.

                           *     *     *

As reported in the TCR on April 19, 2013, Lake & Associates CPA's
LLC, in Schaumburg, Ill., in its report on China Fruits Corp.'s
consolidated financial statements for the fiscal year ended
Dec. 31, 2012, said that the Company's accumulated deficit and
negative cash flow from operations raise substantial doubt about
the Company's ability to continue as a going concern.


CIT GROUP: Moody's Continues Review of Ba3 Sr. Unsecured Rating
---------------------------------------------------------------
Moody's Investors Service said that it is continuing its review of
CIT Group Inc.'s Ba3 senior unsecured rating for possible
downgrade. CIT's corporate family rating remains unchanged at Ba3
with a stable outlook.

Ratings Rationale

Moody's has extended the review for downgrade of CIT's senior
unsecured rating because the company's planned acquisition of
California-based OneWest Bank is still pending.

On July 22, 2014, Moody's affirmed CIT's Ba3 corporate family
rating with a stable outlook, reflecting Moody's expectation that
the overall credit implications of the OneWest acquisition will be
neutral to CIT's credit profile. Moody's placed CIT's senior
unsecured rating on review for downgrade based on its expectation
that the transaction will increase the structural subordination of
CIT's senior unsecured creditors to the depositors at subsidiary
CIT Bank. CIT expects the acquisition, not yet approved by
regulators, to close in mid-2015.

Positive aspects of CIT's acquisition of OneWest include increased
diversification of revenues from the addition of OneWest's banking
services platform and a lower cost of funding from the growth in
deposit funding. CIT will also be subject to increased regulatory
scrutiny because it will grow to more than $50 billion in assets,
requiring that the company adhere to enhanced regulatory mandates
applicable to systemically important financial institutions
(SIFIs), an additional credit positive. Acquisition risks include
the future performance of OneWest's commercial and legacy loan
portfolios, rapid growth in recent years, and the uncertain
resilience of the bank's deposit franchise, including to a change
in interest rates and competitive pressures.

At closing, CIT Bank will double in size to nearly $43 billion of
assets, with deposits increasing to $28.7 billion from $14.4
billion on a pro forma basis at September 30, 2014. The bank's
assets will grow to over 60% of CIT's consolidated assets from
about 44% at September 2014, while deposits will expand to 56% of
total funding from 43%. The transition of a higher proportion of
CIT's earning assets into CIT Bank will result in parent company
creditors having weaker earning asset coverage than the bank's
creditors, a trend that Moody's expects will continue.
Additionally, the holding company's earnings and assets could be
used by the parent to support the bank should it become necessary
in the future.

The principal methodology used in this rating was Finance Company
Global Rating Methodology published in March 2012.

CIT Group Inc. is a $46 billion financial holding company
primarily focused on serving the small business and middle market
sectors with headquarters in New York City and Livingston, New
Jersey.

OneWest is a privately owned regional bank that operates 73 retail
branches in Southern California, with nearly $22 billion in assets
at September 30, 2014.


COLDWATER CREEK: Bankruptcy Cases of Other Debtors Closed
---------------------------------------------------------
The Bankruptcy Court entered a final decree closing the Chapter 11
cases of consolidated non-lead debtors in the cases of CWC
Liquidation Inc. formerly known as Coldwater Creek Inc, et al.

                      About Coldwater Creek

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

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

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

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

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

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

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

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


COLDWATER CREEK: L. Trustee Has Until March 5 to Remove Actions
---------------------------------------------------------------
The Bankruptcy Court extended until March 5, 2015, the time for
the Liquidating Trustee for CWC Liquidation Inc. formerly known as
Coldwater Creek Inc, et al., to file notices to remove actions.

As reported in the TCR on Nov. 28, 2014, according to the
Liquidating Trustee, since the Sept. 26, 2014 Effective Date, it
has been reviewing and reconciling, and has begun to prepare
objections to, the more than 2,500 proofs of claim that have been
filed in the cases.  The efforts have included, and will continue
to include, work to resolve Claims that remain subject to
litigation pending in other jurisdictions.

                      About Coldwater Creek

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

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

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

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

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

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

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

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


CONVATEC HEALTHCARE: CEO Departure No Impact on Moody's B2 CFR
--------------------------------------------------------------
Moody's Investors Service commented on the announcement by
ConvaTec Healthcare A S.a.r.l that its CEO, Ken Berger, will step
down and be replaced on an interim basis by Paul Moraviec,
currently ConvaTec's president in Europe, Middle East and Africa,
while the Board searches for a permanent successor. The unexpected
leadership change is credit negative because it raises uncertainty
about the company's long-term leadership and strategy, and is
occurring at a time when ConvaTec faces challenges on multiple
fronts. However, ConvaTec's B2 Corporate Family Rating and
negative outlook are not affected by the announcement.

The principal methodology used in this rating was the Global
Medical Products & Device Industry published in October 2012.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

ConvaTec is a leading developer, manufacturer and marketer of
products for ostomy management, advanced chronic and acute wound
care, continence & critical care (CCC), sterile single-use medical
devices for hospitals, and infusion sets used in diabetes
treatment. ConvaTec generated approximately $1.8 billion of
revenues for the 12 months ended September 30, 2014. ConvaTec is
owned by Nordic Capital and Avista Capital Partners.


CORD BLOOD: Seeks to Dismiss Lawsuit vs. Tonaquint and St. George
-----------------------------------------------------------------
In a transaction that closed on Dec. 17, 2014, and in settlement
of the previously disclosed litigation matter between Cord Blood
America, Inc., on the one hand, and St. George Investments LLC,
and Tonaquint, Inc., on the other, Case Number 2:13-CV-00806-PMW
filed in the United States District Court for the District of
Utah, Center Division, the Company, St. George and Tonaquint
entered into a settlement and exchange agreement.

Pursuant to the Settlement Agreement, the Secured Convertible
Promissory Note and the Warrant to Purchase Shares of Common Stock
issued by the Company to St. George on or around March 10, 2011,
as well as the Note and Warrant Purchase Agreement pursuant to
which the St. George Note and St. George Warrant were issued, and
all other documents that made up the March 2011 transaction
between the Company and St. George, all of which have been set
forth in detail in prior filings by the Company, were terminated,
cancelled or otherwise extinguished.  Further pursuant to the
Settlement Agreement, the Secured Convertible Promissory Note
issued by the Company to Tonaquint on or around June 27, 2012, was
exchanged for a Secured Convertible Promissory Note of the Company
in the principal amount of $2,500,000, and certain of the other
documents that were part of the June 27, 2012, transaction between
the Company and Tonaquint were terminated, cancelled or otherwise
extinguished, and certain of them were amended.

Under the Company Note, the Company shall make monthly payments to
Tonaquint, with the first payment due on or before April 17, 2015,
and with payments continuing thereafter until the Company's Note
is paid in full, with a maturity date that is 33 calendar months
after April 17, 2015.  The amount of the monthly payments is
$100,000; provided, however, that if the remaining amount owing
under the Company Note as of the applicable Installment Date is
less than $100,000, then the Installment Amount for such
Installment Date shall be equal to the outstanding amount.  The
Company may prepay any or all of the outstanding amount of the
Company Note at any time, without penalty.  In the event the
Company prepays an amount that is less than the outstanding
amount, then the prepayment amount shall be applied to the next
Installment Amounts due under the Company Note.

For each monthly payment, the Company may elect to designate all
or any portion of the Installment Amount then due as a conversion
eligible amount; provided that the total outstanding Conversion
Eligible Amount that has not been converted by Tonaquint, at any
given time may not exceed $100,000 without Tonaquint's prior
written consent and subject to additional restrictions set forth
in the Company Note.  In the event the Company designates any
portion of any monthly payment amount as a Conversion Eligible
Amount, the applicable monthly payment shall be reduced by an
amount equal to the portion thereof designated as a Conversion
Eligible Amount.  The Conversion Eligible Amount shall continue to
be included in and be deemed to be a part of the Outstanding
Balance of the Company Note unless and until such amount is either
paid in cash by the Company or converted into Common Stock by
Tonaquint.  The Company may pay the Conversion Eligible Amount in
cash, provided that no prepayments of cash shall reduce the
Conversion Eligible Amount until the Outstanding Balance is equal
to or less than the Conversion Eligible Amount.

Once the Company has designated amounts as Conversion Eligible
Amount, Tonaquint may convert all or any portion of that amount
into shares of the Company's Common Stock.  In the event of a
conversion by Tonaquint of a Conversion Eligible Amount, the
number of Common Stock shares delivered to Tonaquint upon
conversion will be calculated by dividing the amount of the
Company Note that is being converted by 70% of the average of the
three lowest Closing Bid Prices of the Common Stock in the 20
Trading Days immediately preceding the applicable Conversion.

The Company Note has an interest rate of 7.5%, which would
increase to a rate of 15.0% on the happening of certain Events of
Default that are not considered a Payment Default, provided that
the Company may cure the default in accordance with and subject to
the terms set forth in the Company Note.  Where a Payment Default
occurs, including where (i) Borrower shall fail to pay any
principal, interest, fees, charges, or any other amount when due
and payable under that Company Note; or (ii) Borrower shall fail
to deliver any Conversion Shares in accordance with the terms of
the Company Note, late fees shall accrue as set forth in the
Company Note, and in addition, the Company shall have 90 days from
delivery of notice of default from Tonaquint to cure the default,
as set forth in more detail in the Company Note.  If the Company
fails to cure the Payment Default, Tonaquint may accelerate the
Company Note by written notice to the Company, with the
Outstanding Balance becoming immediately due and payable in cash
at the Mandatory Default Amount (defined in the Company Note)
equal to (i) the Outstanding Balance as of the date of
acceleration (which Outstanding Balance, for the avoidance of
doubt, will include all Late Fees that accrue until any applicable
Payment Default is cured) multiplied by (ii) two hundred fifty
percent (250%), along with other remedies, as set forth in the
Company Note.

The Company Note, as well as a First Amendment to Security
Agreement, which amended the Security Agreement entered as part of
the June 2012 Tonaquint Transaction and Consent to Entry of
Judgment by Confession, along with a First Amendment to Guaranty
executed by all wholly owned subsidiaries of the Company, which
amended the Amendment to Guaranty that was entered as part of June
2012 Tonaquint Transaction were each delivered along with the
Settlement Agreement.  The Transaction Documents contain
representations and warranties of the Company and Tonaquint that
are customary for transactions of this kind.

On Dec. 22, 2014, the Company, Tonaquint and St. George filed a
Stipulated Motion to Dismiss with Prejudice the lawsuit between
and among those same parties in the United States District Court
for the District of Utah, Central Division, case number 2:13-cv-
00806-PMW, and on that same day, the Court entered an Order of
Dismissal, dismissing the Action in its entirety.

                Employment Agreement with President

The Company entered into an executive employment agreement with
Joseph R. Vicente, the Company's president and chairman of the
Board, which is effective as of Jan. 1, 2015, and will terminate
as of Dec. 31, 2017, unless earlier terminated by the Company or
Mr. Vicente in accordance with the Employment Agreement.

Mr. Vicente's Executive Employment Agreement provides for a base
salary equal to $135,000, as well as an annual bonus, payable at
the discretion of the Board of Directors, equal to 30% of  Mr.
Vicente's base salary for that calendar year, provided that Mr.
Vicente has the option to receive any portion of his salary and
bonus in stock of the Company, in lieu of cash, at a value
determined by the Board of Directors in their reasonable
discretion and otherwise in accordance with the Employment
Agreement.

The Employment Agreement provides for change of control
termination payments, whereby if Mr. Vicente is terminated, his
compensation reduced, or the employer terminates his employment
within one year after a change in control, then Mr. Vicente is
entitled to a termination benefit in an amount no less than the
total of the highest annual salary and bonus amount set forth in
the Employment Agreement multiplied by two.  The Employment
Agreement also provides for termination payments in the absence of
a change of control in the event the Company terminates Mr.
Vicente without cause, which said payments will be in an amount
equal to all compensation paid by the Company to Mr. Vicente for
the 24 months preceding the termination, including salary, bonus,
equity, stock options and other compensation, to be paid in equal,
monthly installments over the 24-month period following
termination.

                     About Cord Blood America

Based in Las Vegas, Nevada, Cord Blood America, Inc., is primarily
a holding company whose subsidiaries include Cord Partners, Inc.,
CorCell Co. Inc., CorCell Ltd.; CBA Professional Services, Inc.
D/B/A BodyCells, Inc.; CBA Properties, Inc.; and Career Channel
Inc, D/B/A Rainmakers International.  Cord specializes in
providing private cord blood stem cell preservation services to
families.  BodyCells is a developmental stage company and intends
to be in the business of collecting, processing and preserving
peripheral blood and adipose tissue stem cells allowing
individuals to privately preserve their stem cells for potential
future use in stem cell therapy.  Properties was formed to hold
the corporate trademarks and other intellectual property of CBAI.
Rain specializes in creating direct response television and radio
advertising campaigns, including media placement and commercial
production.

Cord Blood reported a net loss of $2.97 million on $5.97 million
of revenue for the year ended Dec. 31, 2013, as compared with a
net loss of $3.49 million on $5.99 million of revenue in 2012.

Rose, Snyder & Jacobs, LLP, in Encino, 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 has sustained recurring operating losses and has
an accumulated deficit at Dec. 31, 2012.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.

The Company's balance sheet at Sept. 30, 2014, showed
$3.95 million in total assets, $4.66 million in total liabilities,
and a $708,000 total deficit.


DAHL'S FOODS: Associated Wholesale-Led Auction Slated for January
-----------------------------------------------------------------
U.S. Bankruptcy Judge Anita L. Shodeen has approved bidding
procedures, including the break-up fee, in connection with the
auction and sale of Dahl's Foods' assets.

The sale hearing will commence on Jan. 30, 2015, at 9:00 a.m.
prevailing Central time or at such other hour on that date as the
Court will announce.  Objections to the sale hearing must be in
writing and filed with this court no later than Jan. 12, 2015.

The auction, if necessary, will commence no later than Jan. 19,
2015, and will be completed no later than Jan. 21, 2015.

As reported in the TCR on Nov. 12, 2014, Dahl's Foods, operator of
10 grocery stores in Des Moines, Iowa, sought bankruptcy
protection with a deal to Associated Wholesale Grocers, Inc.,
absent higher and better offers.

After good-faith and arm's-length negotiations, the Debtor
executing an Asset Purchase Agreement to sell for $4.8 million all
assets, although the purchase price may be reduced by $1 million
if the real property associated with the store at 5003 EP True
Parkway, West Des Moines, Iowa, is excluded from the sale, and
$1.3 million if the real property associated with the store
located at 8700 Hickman Road, Clive, Iowa.  The Debtors also own
the property associated with the store located at 1320 E. Euclid
Avenue, Des Moines, Iowa.  The other properties associated with
the other stores are leased.   A copy of the APA is available for
free at http://bankrupt.com/misc/Dahls_AWG_Sale_Deal.pdf

                        About Dahl's Foods

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

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

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


DAUGHTERS OF CHARITY: S&P Lowers Rating on 2005 Bonds to 'CCC'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating to 'CCC'
from 'B-' on the California Statewide Communities Development
Authority's series 2005A, 2005F, 2005G, and 2005H fixed-rate
bonds, issued for the Daughters of Charity Health System (DCHS).
The rating outlook is negative.

"The rating reflects DCHS' extremely weak financial profile and
our opinion that the system's financial commitments appear to be
unsustainable in the long term, which could result in a default
scenario during the next 12 months," said Standard & Poor's credit
analyst Kenneth Gacka.

According to S&P's criteria, these scenarios include a near-term
liquidity crisis, violation of financial covenants, or
consideration of a distressed exchange or redemption.  On Oct. 3,
2014, DCHS' board approved the sale of its hospitals to Prime
Healthcare Services and Prime Healthcare Foundation (Prime), in a
deal that S&P understands would include Prime taking on all of
DCHS,' liabilities, including bonds and pension obligations.  The
deal is currently being reviewed by the Attorney General of
California.

The negative outlook reflects S&P's opinion that DCHS' rating
could be lowered further within the one-year outlook period if
DCHS' current plans to sell its hospitals does not materialize or
are delayed.  S&P believes this could occur because it expects
that the system's operations will continue to be pressured, and
S&P believes that DCHS' balance sheet offers very limited cushion
for further prolonged losses.

"DCHS' financial position is very fragile as demonstrated by
persistent operating losses and limited unrestricted reserves,"
added Mr. Gacka.  Based on Standard & Poor's calculations, DCHS
lost $44 million from operations in the first quarter of fiscal
2015 after posting an operating loss of $186 million in audited
fiscal 2014 (both figures exclude contribution revenues).  At
Sept. 30, 2014, DCHS had $76 million in unrestricted reserves (20
days' cash on hand) and $116 million of funds remaining from the
issuance of $125 million of privately placed bonds (series 2014A,
B, and C issued and placed in July and August 2014) to provide
funds for working capital.  These bonds mature on July 10, 2015.
DCHS' liquidity needs in the near term can likely be supported
given the access to the working capital proceeds and expected
receipt of funds related to the California provider fee program in
early calendar year 2015.  However, given DCHS' current rate of
operating losses, S&P believes that longer term liquidity risks
are considerable especially given the July 2015 maturity of the
2014 bonds.  Given this, it is S&P's opinion that a distressed
scenario could likely occur over the next 12 months without
successful resolution of DCHS' pending sale of its hospitals.

As of Sept. 30, 2014, DCHS had $288 million of long-term debt,
$125 million of short-term debt, and $276 million of pension and
other liabilities outstanding.  DCHS has six hospitals located in
Northern California and Southern California.  The hospitals staff
more than 1,500 beds and are clustered around the San Francisco
Bay Area (O'Connor Hospital, St. Louise Regional Hospital, Seton
Medical Center, and Seton Medical Center Coastside) and Los
Angeles (St. Vincent Medical Center and St. Francis Medical
Center).


DAVE & BUSTER'S: S&P Retains 'B+' Corporate Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on Dave &
Buster's Entertainment Inc. are unchanged and it assigned its 'B+'
corporate credit rating to the company's indirect operating
subsidiary, Dave & Buster's Inc.  The corporate credit rating on
Dave & Buster's Inc. is same as its ultimate parent.  Financials
are issued at Dave & Buster's Entertainment; S&P analyzes the
company on a consolidated basis.

The ratings on Dave & Buster's reflect its participation in the
restaurant and out-of-home entertainment industries, which S&P
believes remains intensely competitive.  It differentiates itself
from other restaurants by offering a large array of game
entertainment options, which contribute about half of its
revenues.  It plans to open about seven to eight new stores
annually; store execution risks remain if it pursues new locations
with competing entertainment alternatives and unfavorable
population demographics.  S&P forecasts leverage in the mid-4x
area in the next year, as earnings growth will partly mitigate
higher lease-adjusted debt associated with new stores.  S&P also
considers financial sponsor Oak Hill Capital's significant
ownership of the company and influence over financial policies,
which could impair credit protection measures if debt-funded
shareholder initiatives are pursued.

RATINGS LIST

Dave & Buster's Entertainment Inc.
Corporate Credit Rating                B+/Stable/--

New Rating
Dave & Buster's Inc.
Corporate Credit Rating               B+/Stable/--


DELIA*S INC: Gift Cards Valid Only Until Jan. 23
------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
a representative for the company liquidating Delia*s said the
store is accepting gift cards, merchandise credit and loyalty
programs only until Jan. 23.  According to the Journal, the going-
out-of-business sales are expected to run until mid-April.

                        About DELIA*S INC.

Launched in 1993, dELiA*s Inc., is a retailer which sells apparel,
accessories, footwear, and cosmetics marketed primarily to teenage
girls and young women.  The dELiA*s brand products are sold
through the Company's mall-based retail stores, direct mail
catalogs and e-commerce Web sites.

On Dec. 7, 2014, dELiA*s and eight of its subsidiaries each filed
a voluntary petition for relief under Chapter 11 of the United
States Bankruptcy Code (Bankr. S.D.N.Y.).  The Debtors have
requested that their cases be jointly administered under Case No.
14-23678.

As of the bankruptcy filing, dELiA*s owns and operates 92 stores
in 29 states.

The Debtors have tapped Piper LLP (US) as counsel, Clear Thinking
Group LLC, as restructuring advisor, Janney Montgomery Scott LLC,
as investment banker, and Prime Clerk LLC as claims agent.

As of the Petition Date, the Debtors had $47 million in total
assets and $50.5 million in liabilities.

The Debtors have sought court approval of a deal for Gordon
Brothers Retail Partners, LLC and Hilco Merchant Resources, LLC,
to launch going-out-of-business sales.


DELL INC: Fitch Raises IDR to 'BB'; Outlook Revised to Positive
---------------------------------------------------------------
Fitch Ratings has upgraded the long-term Issuer Default Rating
(IDR) of Dell, Inc. (Dell) and its direct wholly-owned subsidiary,
Dell International Inc. (Dell International), to 'BB' from 'BB-'.
The Rating Outlook is revised to Positive from Stable.

KEY RATINGS DRIVERS

Dell's ratings and Outlook reflect:

   -- Dell's use of free cash flow (FCF) to repay debt and Fitch's
      expectations for core leverage to fall below 3x by the end
      of fiscal 2015 (Jan. 31, 2015).  Fitch estimates Dell will
      have reduced core debt (excluding debt related to financing
      activities) by $3.3 billion during fiscal 2015.

   -- Adequate financial flexibility supported by Dell's
      significant cash balance, the majority of which is overseas,
      a largely undrawn $2 billion asset-based revolving credit
      facility, partially offset by a significant and increased
      working capital deficit that could weigh on liquidity if
      revenue materially declines.

   -- Fitch's belief that Dell remains committed to using FCF
      primarily for debt reduction, consistent with the company's
      objective of returning ratings to investment grade.  Fitch
      also believes the company could use a portion of FCF for
      acquisitions to plug product gaps.

Dell has reduced core leverage since the close of the LBO on Oct.
29, 2013 through Oct. 31, 2014 primarily due to sustainable cost-
reduction actions and increasing Enterprise Solutions Group demand
(driven by PowerEdge Servers) and favorable conditions in the
commercial PC market (e.g. expiration of Windows XP support).

   -- Credit metrics improved as expected, especially core (non-
      financing), excluding purchase price accounting adjustments
      (PPA).  Fitch estimates Dell's total core leverage will drop
      below 3x by the end of fiscal 2015 (Jan. 31, 2015) compared
      with 4.6x at Nov. 1, 2013.

   -- Significant scale, which provides procurement efficiencies
      for memory, hard disk drives and other components utilized
      across the hardware business, specifically PCs, servers and
      storage.

   -- Highly diversified revenue base by customer and geography
      (approximately half outside U.S.)

Ratings concerns center on:

   -- The majority of Dell's revenue remains transactional and
      derived from Client Solutions predominantly in the
      commercial market (formerly End User Computing).  Commercial
      PC demand has benefitted from Microsoft's end of support for
      Windows XP in April 2014 but the commercial XP refresh is
      nearing completion, potentially moderating near-term
      commercial PC demand.

Consumer PC demand remains weak and Fitch believes meaningful
improvement is unlikely, given continued tablet substitution in
this space.

   -- Aggressive industry pricing environment for PCs and servers,
      particularly for the hyperscale server market.

   -- Limited financial flexibility to make significant
      acquisitions to fill product and service gaps that may arise
      as technologies evolve.

RATINGS SENSITIVITIES

Positive rating actions could occur if:

   -- Consistent positive trends for a sustained period in Client
      Solutions and ESG in conjunction with further debt reduction
      from FCF results in Fitch's expectations for core leverage
      sustained below 2.5x;

   -- Less reliance on secured debt in capital structure.

Negative rating actions could occur if:

   -- Pre-dividend FCF margin remains below 2% for a sustained
      period;
   -- Core leverage exceeds 3.5x for a sustained period from
      significant revenue declines, likely the result of Dell's
      inability to offset further PC market erosion with stronger
      results from enterprise, software and services businesses.

Fitch upgrades Dell's ratings as:

Dell Inc.

   -- Long-term IDR to 'BB' from BB-;
   -- Senior unsecured debt to 'BB' from 'B+'.

Dell International Inc.

   -- Long-term IDR to 'BB' from BB-;
   -- Senior secured first lien ABL facility to 'BBB-' from 'BB+';
   -- Senior secured first lien term loans to 'BBB-' from 'BB+';
   -- Senior secured notes to 'BBB-' from 'BB+'.

The Rating Outlook is revised to Positive from Stable.


DOMUM LOCIS: Court Enters Memorandum of Decision on Various Bids
----------------------------------------------------------------
The Bankruptcy Court entered memorandum decision on various
motions of Domum Locis, LLC, and creditor Lloyds TSB Bank PLC.

The Debtor and Lloyds are parties to an adversary proceeding.

The Court finds that, because the material facts necessary to
resolve the motions are not in dispute, there is no need to
proceed with evidentiary hearings and that further hearings are no
longer necessary because the parties have fully briefed the
motions.

Accordingly, the Court ordered that:

   1. The motion to dismiss pursuant to Fed R. Civ. P. 12(b)(6) is
granted.

   2. The objection to claim pursuant to federal rule of
bankruptcy procedure 3007 as pleaded in the complaint is overruled
without prejudice.

   3. The adversary proceeding is dismissed with prejudice, except
the objection to claim is dismissed without prejudice.

   4. The first motion for relief from the automatic stay in the
real property; and the second stay relief motion are both granted.

   5. It is further ordered that any non-bankruptcy litigation in
the actions before the Los Angeles and Riverside Superior Courts
with respect to the properties (as defined in the memorandum
decision) may proceed as the properties are not property of the
Debtor's estate and accordingly, the automatic stay does not
apply.

   6. The Debtor's motion to use the cash collateral of
prepetition secured parties is denied because the properties are
not assets of the Debtor's estate.

   7. The motion to approve residential lease agreement is denied
because the properties are not assets of the Debtor's estate.

   8. The motion for protective order limiting the scope of
discovery is deemed moot because the proceedings to which the
discovery was sought is resolved by the memorandum decision and
the order.

   9. The Court directs the Clerk of Court to enter the order both
in the main bankruptcy case and in the adversary proceeding.

  10. The further hearings on the matters are vacated.

Lloyds is represented by:

         Martha S. Sullivan, Esq.
         Gabriel Colwell, Esq.
         Kristin E. Richner, Esq.
         Emily L. Wallerstein, Esq.
         SQUIRE PATTON BOGGS (US) LLP
         555 South Flower Street, 31st Floor
         Los Angeles, CA 90071
         Tel: +1 213 624 2500
         Fax: +1 213 623 4581
         E-mail: martha.sullivan@squirepb.com
                 gabriel.colwell@squirepb.com
                 kristin.richner@squirepb.com
                 emily.wallerstein@squirepb.com

                       About Domum Locis

Domum Locis LLC filed a Chapter 11 bankruptcy petition (Bankr.
C.D. Cal. Case No. 14-23301) on July 11, 2014.  Michael J.
Kilroy signed the petition as managing member.  The Debtor
estimated assets and liabilities of at least $10 million.  Cypress
LLP serves as the Debtor's counsel.  Judge Robert N. Kwan presides
over the case.

The Debtor selected Cypress LLP as general bankruptcy counsel.

The Debtor reported $14,571,293 in total assets and $11,043,877 in
total liabilities.


DUPONT PERFORMANCE: Bank Debt Trades at 3% Off
----------------------------------------------
Participations in a syndicated loan under which DuPont Performance
Coatings is a borrower traded in the secondary market at 97.25
cents-on-the-dollar during the week ended Friday, December 27,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 1.54 percentage points from the previous week, The
Journal relates.  DuPont Performance Coatings pays 300 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on February 1, 2020, and carries Moody's B1 rating and
Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 212 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.


EDGENET INC: Amended Liquidation Plan Declared Effective
--------------------------------------------------------
Edgenet Inc., nka EI Windown Inc., and EHC Holding Wind Down Corp.
notified the U.S. Bankruptcy Court for the District of Delaware
that their modified amended Chapter 11 plan of liquidation became
effective as of Dec. 15, 2014.

All final requests for payment of professional claims incurred
in connection with services rendered prior to and including the
effective date, must be filed with the Court and served on the
post effective date Debtors no later than Jan. 29, 2015, which is
the date that is 45 days after the effective date.

Additionally, any claims for administrative claims, not previously
filed, must be filed with the clerk of the Bankruptcy Court 824
Market Street, Wilmington, DE 19801 on or before January 14, 2015
which is the first business day 30 days after the effective date
and served upon the plan administrator c/o her counsel:

   KLEHR HARRISON HARVEY BRANZBURG LLP
   Attn: Domenic Pacitti, Esq.
         Raymond H. Lemisch, Esq.
   919 Market Street, Suite 1000
   Wilmington, DE 19801
   Email: dpacitti@klehr.com
          rlemisch@klehr.com

                      About Edgenet Inc.

Edgenet, Inc., and Edgenet Holding Corp. are providers of cloud-
based content and applications that enable companies to sell more
products and services with greater ease across multiple channels
and devices.  Edgenet has three business locations: Waukesha, WI,
Brentwood, TN, and its main office in Atlanta, GA.

Edgenet Inc. and Edgenet Holding filed for Chapter 11 bankruptcy
protection in Delaware (Lead Case No. 14-10066) on Jan. 14, 2014.

Edgenet Inc. estimated assets of at least $10 million and
liabilities of $100 million to $500 million.

Raymond Howard Lemisch, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware, serves as counsel to the Debtors;
Glass Ratner Advisory & Capital Group LLC is the financial
advisor; JMP Securities, LLC, is the investment banker, and Phase
Eleven Consultants, LLC, is the claims and noticing agent.

The U.S. Trustee did not form an official unsecured creditors
committee as no sufficient interest has been generated from
creditors.

Fred Marxer, Timothy Choate and Davis Carr, individuals and
holders of a segment of the promissory notes issued in 2004 that
have been referred to by Edgenet, Inc., et al., requested that the
Court issue an order appointing an official committee of Seller
Noteholders, or in the alternative, an official committee of
unsecured creditors, with members appointed from the Seller
Noteholders who agree to waive any continued security interest
arising from the Seller Notes.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed on
March 13, 2014, five noteholders to serve on the Official
Committee of Note Holders.  In May, Bankruptcy Judge Brendan L.
Shannon denied Edgenet Inc., et al.'s motion to disband the
Noteholders Committee.

The Noteholders Committee has retained Morris James LLP's Jeffrey
R. Waxman, Esq.; and Cooley LLP's Cathey Hershcopf, Esq., and
Jeffrey L. Cohen, Esq., as co-counsel to the Committee.

An auction of the Debtors' assets was held on June 6, 2014, and
EdgeAQ, L.L.C., was declared the successful bidder.  The
Bankruptcy Court approved the sale on June 12, and the sale closed
on June 16.  Edgenet Inc. changed its name to El Wind Down, Inc.,
and Edgenet Holding Corporation to EHC Holding Wind Down Corp.


EXIDE TECHNOLOGIES: Sued Over Alleged Health Problems
-----------------------------------------------------
Sara Randazzo, writing for Daily Bankruptcy Review, reported that
years of contamination at a Southern California lead-acid battery-
recycling plant caused severe health problems for local residents,
including cancer and kidney failure, according to a new lawsuit.
According to the report, the suit, brought against directors and
officers of Exide Technologies, was filed in Los Angeles Superior
Court.

                     About Exide Technologies

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

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

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

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

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

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

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


FALCON STEEL: Equity Holders' Bid for Official Committee Denied
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
entered an order denying, without prejudice, a bid by equity
holders for an official equity committee in the Chapter 11 case of
Falcon Steel Company.

The order does not prejudice any party from filing a motion to
direct the appointment of employee noteholders to the Official
Committee of Unsecured Creditors or the United States
Trustee from appointing the same, the Court held in its Dec. 18
ruling.

A group of equity holders represented by Dallas, Texas-based law
firm Munsch Hardt Kopf & Harr, P.C. that owns shares in the steel
maker complained of not being "adequately" represented, and asked
U.S. Bankruptcy Judge D. Michael Lynn to approve the formation of
an equity committee.

As reported in the Dec. 5, 2014 edition of the Troubled Company
Reporter, the Debtors and the U.S. Trustee opposed the proposal to
have an official committee of equity holders in the Debtors'
Chapter 11 cases.  They contended that equity is more than
adequately represented, this case is not complex enough to warrant
an equity committee, and the substantial costs of an additional
committee far outweigh any potential benefits, especially given
equity's substantial representation on the Board.

The Official Committee of Unsecured Creditors joined in the
objections to the Motion.  "FSC is a small, non-public, closely
held, employee owned company with a total of 24 shareholders.
FSC's board of directors is comprised of three directors.  Two
directors are the two largest employee shareholders: (i) Larry
Minor -- FSC's largest shareholder with 27.6% of the voting
shares; and (ii) David Dunlap -- FSC's third largest shareholder
with 9.1%.8 Given their stakes in Falcon as major shareholders and
employees, their interests are fully aligned with the other 22
shareholders. And given their significant equity stakes, any
decision that they might make that hurts shareholders would hurt
them significantly more than most of the other shareholders," the
Committee said in its objection.

The Creditors Committee's attorneys can be reached at:

         Jonathan L. Howell, Esq.
         Eric M. Van Horn, Esq.
         MCCATHERN PLLC
         Regency Plaza
         3710 Rawlins Street, Ste. 1600
         Dallas, Texas 75219
         Telephone: (214) 273-6409
         Facsimile: (214) 723-5966
         E-mail: jhowell@mccathernlaw.com
                 ericvanhorn@mccathernlaw.com

                        About Falcon Steel

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

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

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

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

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

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

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


FLC HOLDING: Bankruptcy Court Approves Sale of PNA Bank to Royal
----------------------------------------------------------------
Royal Financial, Inc., on Dec. 23 disclosed that the U.S.
Bankruptcy Court for the Northern Division of Illinois, Eastern
Division, approved a Sale Order for the sale of all of the issued
and outstanding shares of common stock of PNA Bank to Royal for a
cash purchase price of $1.2 million.  As previously announced on
November 14, 2014, Royal entered into an Asset Purchase Agreement
with FLC Holding Company, an Illinois corporation and a registered
savings and loan holding company, to acquire FLC's wholly-owned
subsidiary, PNA Bank, a federal savings bank with banking offices
in Chicago and Niles, Illinois.

The acquisition remains subject to the terms and conditions set
forth in the Asset Purchase Agreement and the provisions of
Section 363 of the Bankruptcy Code, which included the receipt of
approval of the Bankruptcy Court.  Under the provisions of the
Sale Order, Royal purchased the acquired assets free and clear of
all liens, claims and encumbrances and will assume no liability of
FLC.  Royal next intends to file the necessary bank merger
applications with state and federal banking regulators seeking
their approval of the proposed acquisition.

Royal expects the acquisition to close in the second quarter of
calendar 2015 following the approval of bank regulators.  As part
of the transaction, Royal intends to merge PNA Bank with and into
Royal's wholly-owned subsidiary, Royal Savings Bank.  On a
combined basis with PNA Bank, Royal will have approximately $232
million in assets, $156 million in loans and $178 million in
deposits and serve the combined market area through a total of
five office locations.

"We are pleased with the Court's decision today, which removes the
cloud of FLC Holding's bankruptcy from PNA Bank and enables us to
move forward with applications for regulatory approval," said
Jim Fitch, Chairman of Royal Financial.  "This transaction
advances execution of our strategic plan to increase value for our
shareholders.  We are excited by this opportunity to serve PNA
Bank's customers and to welcome the staff at PNA Bank to our
company."

Royal was advised in the transaction by RP Financial, LC. as
financial advisor, and Vedder Price P.C. as legal counsel.  FLC
was advised by Adelman & Gettleman, Ltd, as legal counsel.  A copy
of the Sale Order entered by the Bankruptcy Court along with the
original Asset Purchase Agreement is available on Royal's website,
under "Royal Financial", at www.royal-bank.us from the OTC
Markets' website at www.otcmarkets.com under the ticker RYFL, or
from the Clerk of the U.S. Bankruptcy Court.

                    About Royal Savings Bank

Royal Savings Bank -- http://www.royal-bank.us-- offers a range
of checking and savings products and a full line of home and
commercial lending solutions.  Royal Savings Bank has been
operating continuously in the south and southeast communities of
Chicago since 1887, and currently has three branches in Chicago,
with lending centers in Homewood and St. Charles, Illinois.

                        About FLC Holding

FLC Holding Company filed a Chapter 11 petition (Bankr. N.D. Ill.
Case No. 13-24125) on June 11, 2013.  Chad H. Gettleman, Esq., at
Adelman & Gettleman, Ltd., in Chicago, serves as counsel.
The Debtor estimated assets of $500,001 to $1 million and debts of
$1 million to $10 million.


FLEXPOINT SENSOR: Lacks Revenue to Fund Operations
--------------------------------------------------
Flexpoint Sensor Systems, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $232,000 on $124,000 of revenue for
the three months ended Sept. 30, 2014, compared with a net loss of
$188,000 on $33,400 of total revenue for the same period in 2013.

The balance sheet at Sept. 30, 2014, showed $5.35 million in total
assets, $1.52 million in total liabilities, and a stockholders'
equity of $3.84 million.

Flexpoint is unable to fund day-to-day operations from revenues
and the lack of revenues for continued growth may cause the
Company to delay its business development.  For the nine months
ending Sept. 30, 2014, the Company had negative cash flows from
operating activities of $360,225.  Flexpoint will require
additional financing to fund short-term cash needs and it may be
required to rely on debt financing, loans from related parties,
and private placements of common stock for that additional
funding.

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

                        http://is.gd/jFJYk7

Flexpoint Sensor Systems, Inc. has developed and patented the Bend
Sensor technology. The Bend Sensor is a technological breakthrough
that offers a superior solution for applications that require
accurate measurement and sensing of deflection, acceleration and
range of motion. Global market opportunities include automotive,
medical, industrial controls, government, health and fitness,
security, computer, aerospace, transportation and consumer
products.


FOREX INTERNATIONAL: Working Capital Insufficient for Operations
----------------------------------------------------------------
Forex International Trading Corp. filed its quarterly report on
Form 10-Q, reporting a net loss of $203,000 on $30,000 of total
revenue for the three months ended Sept. 30, 2014, compared with a
net loss of $40,000 on $30,000 of total revenue for the same
period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.09
million in total assets, $999,700 in total liabilities, and a
stockholders' equity of $86,000.

As of Sept. 30, 2014, the Company had cash and cash equivalents of
approximately $0.4 million and a working capital deficit of $32.0
million.

Forex International has generated revenues in the nine months
ended Sept. 30, 2014, but has had recurring losses from operations
since inception, and has a negative working capital as of
Sept. 30, 2014.  As of Sept. 30, 2014, the Company has an
accumulated deficit of $2.35 million.  Based on the Company's
operating plan, existing working capital at Sept. 30, 2014, was
not sufficient to meet the cash requirements to fund planned
operations through Dec. 31, 2014, without additional sources of
cash.  This raises substantial doubt about 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/eSDH1y

Headquartered in New York, N.Y., Forex International Trading Corp.
operates an offshore advanced online trading platform for Forex
markets to non U.S. residents.  The Company focuses on providing
individual and institutional investors with a platform for buying
and selling currencies, precious metals and commodity futures.


FORTESCUE METALS: Bank Debt Trades at 9% Off
--------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 90.88
cents-on-the-dollar during the week ended Friday, December 27,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 5.19 percentage points from the previous week, The
Journal relates.  Fortescue Metals pays 325 basis points above
LIBOR to borrow under the facility.  The bank loan matures on June
13, 2019, and carries Moody's Baa3 rating and Standard & Poor's
BBB rating.  The loan is one of the biggest gainers and losers
among 212 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.


FPL ENERGY: S&P Affirms 'BB' Rating on $365MM Sr. Sec. Notes
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' issue-level
rating on project finance entity FPL Energy National Wind LLC's
$365 million senior secured notes due 2024.  At the same time, S&P
revised the outlook to negative from stable.

The '1' recovery rating on the facility remains unchanged.  A '1'
recovery rating indicates S&P's expectation of substantial
recovery (90% to 100%) if a default occurs.  S&P's recovery
expectations are in the higher end of the 90% to 100% range.

"Our rating action stems from our assessment of the negative
effect on debt service coverages from unforeseen structural
repairs that the project has identified at one of the project
sites," said Standard & Poor's credit analyst Trevor D'Olier-Lees.

Based on S&P's discussions with management, there is a range of
costs up to about $7.5 million.  Currently, S&P has increased its
base case cost assumptions by about $2.8 million over 2015 and
2016 and such repairs are expected to hurt project availability
and financial performance over the next two years.  As management
completes assessing repair costs and determines when it will incur
them, S&P expects to have more definitive cost numbers in the
first half of 2015.

Including S&P's repair cost estimates, under its base case,
excluding 2015, S&P expects a minimum debt service coverage ratio
(DSCR) of 1.22x and average DSCR of 1.57x through debt maturity.
S&P chose to exclude the 2015 ratios from its assessment because
it believes the additional costs are an exceptional event.
Although this minimum is low for the current rating, the project
shows resiliency in our downside scenario, which supports the
current 'BB' rating.

National Wind is a portfolio of eight wind power projects totaling
389.6 megawatts that operate at seven U.S. locations, with four
wind regimes.  From the second half of 2014, National Wind began
repaying debt almost entirely from project cash flows generated by
converting wind energy into electricity and selling it to off-
takers under long-term power purchase agreements, as most of its
production tax credit benefits have ended.

The negative outlook on National Wind reflects S&P's view of the
pressure and uncertainly on cash available for debt service due to
the unexpected additional repair costs at one of the sites.  S&P
expects National Wind to achieve a DSCR of 1.12x in 2015 and 1.22x
in 2016.


GBG RANCH: Files Schedules of Assets and Liabilities
----------------------------------------------------
GBG Ranch, Ltd., filed with the U.S. Bankruptcy Court for the
Southern District of Texas its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $35,400,000
  B. Personal Property           $18,711,258
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                    $7,588
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                        $4,393,905
                                 -----------      -----------
        Total                    $54,111,258       $4,401,493

A copy of the schedules is available for free at

          http://bankrupt.com/misc/GBGRanch_159_SAL.pdf

                         About GBG Ranch

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.  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.


GLOBALSTAR INC: Thermo Investments Buys 12.3-Mil. Common Shares
---------------------------------------------------------------
Globalstar, Inc., disclosed that on Dec. 19, 2014, Thermo
Investments II, LLC, acquired 12,371,136 shares of Globalstar
voting common stock from Thermo Funding II, LLC, at $2.82 per
share in a privately negotiated transaction.  After the
transaction, TF and its affiliates retain approximately
770,000,000 aggregate voting and nonvoting shares of Globalstar on
a fully diluted basis.  James Lynch and the James Monroe III
Grantor Trust are the members of TI and TF, respectively.  The
transaction by TF was solely for tax planning purposes relating to
taxable gains recognized by TF on the acquisition of tw telecom
inc. by Level 3 Communications, Inc.

The Shares originally were acquired by an affiliate of TF in 2006
and 2007 pursuant to a stock purchase agreement whereby the
affiliate purchased $200 million, or 12,371,136 shares, of
Globalstar voting common stock at $16.17 per share that it
subsequently contributed to TF.

TF's loss on the sale of the Shares offsets a portion of the
taxable gain realized by TF and its affiliates from the
acquisition of TWTC by LVLT.  The investment in TWTC originated
from a 2006 sale to TWTC of a majority ownership by a TF affiliate
of Xspedius Communications, a long-haul and metro fiber
telecommunications network provider.

The Shares acquired by TI currently are restricted securities
under the federal securities laws and their resale will be
registered pursuant to a Form S-3 registration statement to be
filed with no expenses paid by Globalstar.  Neither TF nor TI have
plans to dispose of their respective shares.  The transaction does
not impact the Company's status as a controlled company under NYSE
MKT rules.

                       About Globalstar, Inc.

Globalstar is a leading provider of mobile satellite voice and
data services.  Globalstar offers these services to commercial and
recreational users in more than 120 countries around the world.
The company's products include mobile and fixed satellite
telephones, simplex and duplex satellite data modems and flexible
service packages.  Many land based and maritime industries benefit
from Globalstar with increased productivity from remote areas
beyond cellular and landline service.  Globalstar customer
segments include: oil and gas, government, mining, forestry,
commercial fishing, utilities, military, transportation, heavy
construction, emergency preparedness, and business continuity as
well as individual recreational users.  Globalstar data solutions
are ideal for various asset and personal tracking, data monitoring
and SCADA applications.

Globalstar reported a net loss of $591.11 million in 2013, a net
loss of $112.19 million in 2012 and a net loss of $54.92 million
in 2011.

As of Sept. 30, 2014, the Company had $1.31 billion in total
assets, $1.33 billion in total liabilities and a $14.53 million
total stockholders' deficit.


GLYECO INC: Board Okays Equity Incentive Program
------------------------------------------------
The Board of Directors of GlyEco, Inc., approved an equity
incentive program, whereby the Company's employees may elect to
receive equity in lieu of cash for all or part of their salary
compensation, according to a regulatory filing with the U.S.
Securities and Exchange Commission.

Pursuant to the Equity Incentive Program, each of the Company's
employees may choose to forego all or part of their salary
compensation in exchange for stock options or shares of restricted
stock.  For each dollar of compensation foregone, each employee is
eligible to receive either four stock options or three and one-
third shares of restricted common stock.

The Company will issue all stock options and restricted stock due
to employees pursuant to the Equity Incentive Program on the last
day of each calendar month.  Stock options issued pursuant to the
program will vest immediately upon issuance and have an exercise
price of $0.30.  Those stock options will have a term of ten years
and be otherwise subject to the terms of the Company's 2012 Equity
Incentive Plan, including cashless exercise as an available form
of payment.  Restricted stock issued pursuant to the program will
also vest immediately and have a stock basis of $0.30 per share.

The Company's Chief Executive Officer, John Lorenz, and Chief
Financial Officer, Alicia Williams Young, have both decided to
participate in the Equity Incentive Program.  Mr. Lorenz has
decided to forego $9,000 per month of his cash compensation,
therefore electing to receive 36,000 stock options per month under
the program, while Ms. Williams Young has decided to forego $8,000
per month of her cash compensation, therefore electing to receive
32,000 stock options per month under the program.

The Equity Incentive Program will remain in effect until March 31,
2015, at which time it will be reevaluated.  Upon the conclusion
of the program, the Company will calculate its profitability for
the quarter using an adjusted EBITDA calculation, and if the
Company has achieved profitable operations, it will proportionally
distribute salary compensation back to all employees participating
in the program.

                        About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

GlyeCo reported a net loss of $4.01 million in 2013, a net loss of
$1.86 million in 2012, and a net loss of $592,171 in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $15.52
million in total assets, $2.49 million in total liabilities and
$13.03 million in total stockholders' equity.

Semple, Marchal & Cooper, LLP, in Phoenix, Arizona, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has yet to achieve profitable
operations and is dependent on its ability to raise capital from
stockholders or other sources to sustain operations and to
ultimately achieve viable profitable operations.  These factors
raise substantial doubt about the Company's ability to continue as
a going concern.


GOPICNIC BRANDS: To Sell Packaged Meal Business at Auction
----------------------------------------------------------
Jacqueline Palank, writing for Daily Bankruptcy Review, reported
that GoPicnic Brands Inc., whose packaged meals are sold in big-
box retailers like Costco and Target, is heading to the auction
block.  According to the report, Judge Jacqueline Cox of the U.S.
Bankruptcy Court in Chicago authorized the company to sell itself
to the highest bidder at a Jan. 27 auction, court papers show.

Headquartered in Chicago, Illinois, GoPicnic Brands, Inc.,
produces boxed meals and snack.  Its products are available at
more than 15,000 retail locations worldwide.

GoPicnic Brands, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ill. Case No. 14-43382) on Dec. 3, 2014, citing lack
of growth and a dispute between the company's board and its former
director.  The petition was signed by Bret Lorenc, chief financial
officer.

GoPicnic Brands estimated its assets at between $1 million and
$10 million, and its liabilities between $1 million and $10
million.


GT ADVANCED: Portion of Furnace Sale Proceeds to Go to Apple
------------------------------------------------------------
GT Advanced Technologies Inc., following the Bankruptcy Court's
approval of its settlement agreement with Apple Inc., is now
pursuing ASF furnace opportunities for sapphire cover glass
applications across the broader smartphone market as well as
ongoing opportunities in the LED and Industrial markets.

Under the Settlement Agreement, all previous exclusivity
restrictions have been lifted and GT retains control of its
intellectual property as well as ownership of its production,
ancillary and inventory assets located in Mesa.  GT has been
provided with a rent-free lease of the Mesa facility through the
end of 2015 and a subsequent rent-free lease of a portion of the
facility for storage through 2019, subject to early termination by
Apple on 6-months prior notice, which can be issued no sooner than
July 1, 2016.  Apple has been provided with a mechanism for
recovering its $439 million pre-payment made to GT whereby Apple
will receive a portion of ASF sales for each furnace that GT
sells.

"We are very pleased that the court has approved our Settlement
Agreement with Apple, which we believe is in the best interest of
all parties," said Tom Gutierrez, GT's chief executive officer and
president.  "We are focused on executing on our business plan
which includes marketing and selling our market-leading ASF
sapphire growth technology.  Based on the demonstrated field
performance of the ASF, GT's technology roadmap and our unmatched
sapphire growth expertise, we are confident that GT's ASF platform
offers sapphire manufacturers the most cost competitive, scalable
and versatile solution for sapphire growth for several
applications including consumer electronics.  Since we have re-
entered the market, interest in our sapphire technology has
continued to grow."

Mr. Gutierrez concluded, "Since our Chapter 11 filing, we have
taken several important steps to significantly reduce our cash
operating expenses and protect our cash position, which was $96.7
million as of December 19th, while at the same time we have
continued to invest in our market leading technologies.  We are
making good progress in our efforts to secure debtor-in-possession
financing which we believe will provide GT with sufficient
liquidity to continue to implement our business plan."

Vikas Shukla at Valuewalk.com relates that Luc Despins, the
attorney for GT, had previously told the Bankruptcy Court that
each furnace was expected to fetch about $500,000.  The report
says that GT, Apple, and some creditors negotiated other
provisions, and estimated that the first 500 furnaces would fetch
$169,000 per unit.  The report adds that the next 500 would
generate $224,000 each.

                 About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced
Technologies Inc. -- http://www.gtat.com/-- produces materials
and equipment for the electronics industry.  On Nov. 4, 2013, GTAT
announced a multiyear supply deal with Apple Inc. to produce
sapphire glass material for use in consumer electronics products.
Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the
NASDAQ stock exchange in October 2014.

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

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

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

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than
2,000 sapphire furnaces that GT Advanced owns and has four years
to sell, with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.


GT ADVANCED: Wins Approval of Apple Settlement
----------------------------------------------
GT Advanced Technologies Inc. on Dec. 23 disclosed that following
the Bankruptcy Court's recent approval of its Settlement Agreement
with Apple, GT is now pursuing ASF(R) furnace opportunities for
sapphire cover glass applications across the broader smartphone
market as well as ongoing opportunities in the LED and Industrial
markets.

Under the Settlement Agreement, all previous exclusivity
restrictions have been lifted and GT retains control of its
intellectual property as well as ownership of its production,
ancillary and inventory assets located in Mesa.  GT has been
provided with a rent-free lease of the Mesa facility through the
end of 2015 and a subsequent rent-free lease of a portion of the
facility for storage through 2019, subject to early termination by
Apple on 6 months' prior notice, which can be issued no sooner
than July 1, 2016.  Apple has been provided with a mechanism for
recovering its $439 million pre-payment made to GT whereby Apple
will receive a portion of ASF sales for each furnace that GT
sells.

"We are very pleased that the court has approved our Settlement
Agreement with Apple, which we believe is in the best interest of
all parties," said Tom Gutierrez, GT's chief executive officer and
president.  "We are focused on executing on our business plan
which includes marketing and selling our market-leading ASF
sapphire growth technology.  Based on the demonstrated field
performance of the ASF, GT's technology roadmap and our unmatched
sapphire growth expertise, we are confident that GT's ASF platform
offers sapphire manufacturers the most cost competitive, scalable
and versatile solution for sapphire growth for several
applications including consumer electronics.  Since we have
re-entered the market, interest in our sapphire technology has
continued to grow."

Mr. Gutierrez concluded, "Since our chapter 11 filing, we have
taken several important steps to significantly reduce our cash
operating expenses and protect our cash position, which was $96.7
million as of December 19th, while at the same time we have
continued to invest in our market leading technologies.  We are
making good progress in our efforts to secure debtor-in-possession
financing which we believe will provide GT with sufficient
liquidity to continue to implement our business plan."

                   About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced
Technologies Inc. -- http://www.gtat.com/-- produces materials
and equipment for the electronics industry.  On Nov. 4, 2013, GTAT
announced a multiyear supply deal with Apple Inc. to produce
sapphire glass material for use in consumer electronics products.
Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the
NASDAQ stock exchange in October 2014.

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

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

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

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than
2,000 sapphire furnaces that GT Advanced owns and has four years
to sell, with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.


HAMILTON SUNDSTRAND: Bank Debt Trades at 8% Off
-----------------------------------------------
Participations in a syndicated loan under which Hamilton
Sundstrand Industrial is a borrower traded in the secondary market
at 92.52 cents-on-the-dollar during the week ended Friday,
December 27, 2014, according to data compiled by LSTA/Thomson
Reuters MTM Pricing and reported in The Wall Street Journal.  This
represents an increase of 2.19 percentage points from the previous
week, The Journal relates.  Hamilton Sundstrand Industrial pays
300 basis points above LIBOR to borrow under the facility.  The
bank loan matures on Dec. 10, 2019, and carries Moody's B1 rating
and Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 212 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.


HEALTHSOUTH CORP: Moody's Affirms Ba3 Corp. Family Rating
---------------------------------------------------------
Moody's Investors Service affirmed HealthSouth Corporation's Ba3
Corporate Family Rating and Ba3-PD Probability of Default Rating.
Moody's also assigned a Baa3 rating to HealthSouth's incremental
$300 million senior secured term loan. Proceeds from the new term
loan, along with a draw on the company's revolver will be used to
fund the $750 million acquisition of EHHI Holdings Inc., which
owns Encompass Home Health and Hospice. The acquisition is
expected to close by the end of 2014.

Concurrently, Moody's affirmed the ratings on HealthSouth's
existing senior secured revolver and term loan at Baa3 and lowered
the rating on the company's senior unsecured notes to B1 from Ba3.
The downgrade of the senior note rating reflects the significant
increase in the amount of senior secured debt in the capital
structure in the form of the incremental term loan and the
considerable draw on the revolver. Finally, Moody's also affirmed
HealthSouth's Speculative Grade Liquidity Rating at SGL-1. The
rating outlook remains stable.

The affirmation of HealthSouth's Ba3 CFR reflects Moody's
expectation that while financial leverage will increase as a
result of the acquisition, debt to EBITDA will quickly be reduced
to below 3.5 times through EBITDA growth and the repayment of debt
with available cash flow. Moody's also understands that the
incremental term loan will have a first out provision if the
company raises additional unsecured debt. All else being equal,
the exercise of this provision through the issuance of additional
unsecured notes, the repayment of the incremental term loan and a
reduction in the amount of revolver outstanding could result in an
upgrade of the senior unsecured rating.

Ratings affirmed/LGD assessments revised:

  Corporate Family Rating, Ba3

  Probability of Default Rating, Ba3-PD

  Senior secured revolver due 2019 to Baa3 (LGD 2) from Baa3
  (LGD 1)

  Senior secured term loan due 2019 to Baa3 (LGD 2) from Baa3
  (LGD 1)

  Speculative Grade Liquidity Rating at SGL-1

Ratings assigned:

  New senior secured term loan due 2019 at Baa3 (LGD 2)

Ratings lowered:

  Senior unsecured notes to B1 (LGD 4) from Ba3 (LGD 4)

The rating outlook is stable.

Ratings Rationale

HealthSouth's Ba3 Corporate Family Rating reflects the company's
moderate leverage and strong interest coverage. Moody's expects
that healthy cash flow will allow the company to reduce leverage
following the acquisition of Encompass and continue to invest in
growing its inpatient rehabilitation business. Moody's also
acknowledges that HealthSouth's considerable scale in the
inpatient rehabilitation sector and geographic diversification
should allow the company to adjust to or mitigate payment
reductions more easily than many other inpatient rehabilitation
providers. Further, while the acquisition of Encompass will not
reduce HealthSouth's reliance on the Medicare program for a
significant portion of revenue, it will diversify the company's
offerings across the post-acute continuum of care by adding home
health and hospice services.

The ratings could be upgraded if HealthSouth can sustain debt to
EBITDA below 3.0 times and EBITA to interest above 3.5 times.
Also, the company would need to remain disciplined in regards to
shareholder returns and their impact on credit metrics. Finally,
Moody's would need to gain comfort around the company's high
exposure to Medicare and the potential for negative reimbursement
changes prior to a ratings upgrade.

If Moody's expects debt to EBITDA to increase and be sustained
above 4.0 times, either through unforeseen adverse developments in
Medicare reimbursement, a significant debt financed acquisition,
an increased appetite for debt financed shareholder initiatives,
or deterioration in operating performance, the ratings could be
downgraded.

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


HUNTINGTON BEACH SCHOOL DISTRICT: On Fin'l Brink Due to Asbestos
----------------------------------------------------------------
Nicole Knight Shine, writing for Los Angeles Times, reported that
the Huntington Beach School District, a small school district in
Orange County, California, is reeling under a multimillion-dollar
budget shortfall following the closure of campuses and bus
students in the wake of an asbestos scare.

According to the report, Wendy Benkert, assistant superintendent
for business services at the Orange County Department of
Education, told trustees for Ocean View School District, that the
district has run through $2.9 million of $4.3 million in general
fund emergency reserves and faces an additional $9.2 million in
costs related to asbestos removal and a modernization project at
11 schools.  Should the Huntington Beach school district fail to
close its $7.8-million shortfall, it might need emergency funding
or could be taken over by the state, Benkert warned, the report
further related.


INDEPENCE TAX II: Reports $128K Net Loss in Q2 Ending Sept. 30
--------------------------------------------------------------
Independence Tax Credit Plus L.P. II filed its quarterly report on
Form 10-Q, reporting a net loss of $128,000 on $216,000 of total
revenue for the three months ended Sept. 30, 2014, compared with a
net loss of $131,000 on $209,700 of total revenue for the same
period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $2.7 million
in total assets, $16.7 million in total liabilities, and a
stockholders' deficit of $14 million.

At Sept. 30, 2014, the Partnership's liabilities exceeded assets
by $14.0 million and for the six months ended Sept. 30, 2014, the
Partnership had net loss of $247,000.  These factors raise
substantial doubt about the Partnership'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/B1sc8Z

             About Independence Tax Credit Plus L.P. II

Based in New York, Independence Tax Credit Plus L.P. II was
organized on Feb. 11, 1992, and commenced its public offering on
Jan. 19, 1993.  The general partner of the Partnership is Related
Independence Associates L.P., a Delaware limited partnership.  The
general partner of Related Independence Associates L.P. is Related
Independence Associates Inc., a Delaware Corporation.  The
ultimate parent of Related Independence Associates L.P. is
Centerline Holding Company.

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

The Partnership is in the process of developing a plan to dispose
of all of its investments.


INEOS GROUP: Bank Debt Trades at 3% Off
---------------------------------------
Participations in a syndicated loan under which Ineos Group Plc is
a borrower traded in the secondary market at 96.79 cents-on-the-
dollar during the week ended Friday, December 27, 2014 according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 3.20
percentage points from the previous week, The Journal relates.
Ineos Group pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 2, 2018, and carries
Moody's Ba3 rating and Standard & Poor's BB- rating.  The loan is
one of the biggest gainers and losers among 212 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


INFINITY ENERGY: Recurring Losses Raise Going Concern Doubt
-----------------------------------------------------------
Infinity Energy Resources, Inc., late last month filed with the
U.S. Securities and Exchange Commission its Form 10-K for the year
ended Dec. 31, 2013.  EKS&H LLLP, in Denver, Colorado, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has suffered recurring losses, has
no on-going operations, and has a significant working capital
deficit, which raises substantial doubt about its ability to
continue as a going concern.

Infinity Energy disclosed a net loss applicable to common
shareholders of $5.59 million for the year ended Dec. 31, 2013,
compared to net income applicable to common shareholders of
$894,570 for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $10.49 million in total
assets, $11.71 million in total liabilities, $1.65 million in
redeemable, convertible preferred stock, and a $2.87 million total
stockholders' deficit.

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

                         http://is.gd/XKrhqs

                        About Infinity Energy

Overland Park, Kansas-based Infinity Energy Resources, Inc., and
its subsidiaries, are engaged in the acquisition and exploration
of oil and gas properties offshore Nicaragua in the Caribbean Sea.

Infinity Energy disclosed net income of $2.90 million for the year
ended Dec. 31, 2012, as compared with a net loss of $3.52 million
during the prior year.

Infinity Energy reported a net loss applicable to common
shareholders of $5.58 million for the year ended Dec. 31, 2013,
compared to net income applicable to common shareholders of
$894,570 for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $10.49 million in total
assets, $11.71 million in total liabilities, $1.65 million in
redeemable, convertible preferred stock, and a $2.87 million total
stockholders' deficit.

EKS&H LLLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses, has no on-going
operations, and has a significant working capital deficit, which
raises substantial doubt about its ability to continue as a going
concern.


INFORMATION RESOURCES: S&P Lowers CCR to 'B'; Outlook Stable
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Information Resources Inc. to 'B' from 'B+'.  The
outlook is stable.

At the same time, S&P lowered the issue-level ratings on the
company's debt by one notch.  The recovery ratings remain
unchanged.

"The downgrade reflects IRI's elevated leverage in the mid- to
high-7x area, which significantly exceeds the 5x-or-higher
threshold that we associate with a "highly leveraged" financial
risk profile," said Standard & Poor's credit analyst Heidi Zhang.
Because IRI's leverage is no longer in line with other 'B+' rated
companies, we revised the comparable rating analysis modifier to
"neutral" from "positive".  We expect IRI to deleverage to the
6.5x area by 2015 through EBITDA growth related to data center
migration cost savings and modest organic growth.

S&P views IRI's business risk profile as "fair".  As a provider of
market tracking products and corresponding consulting services,
the IRI competes against a variety of companies, including Nielsen
Holdings N.V., which is better capitalized, has wider global
reach, and achieves a significantly higher EBITDA margin.
However, IRI has developed fairly stable relationships with
manufacturers and retailers in the consumer packaged goods (CPG)
and consumer health industries and further benefits from contract-
based revenue and high barriers to entry, given the capital
intensity of the business.

The stable rating outlook reflects S&P's view that IRI's liquidity
will remain adequate and that leverage will remain high.  S&P
currently views either an upgrade or a downgrade as unlikely over
the next 12 months.

S&P could raise the rating by one notch if it become convinced
that the company will reduce adjusted debt-to-EBITDA to the low-5x
area and consistently generate strong discretionary cash flow that
would be available for debt reduction.  This scenario would likely
involve IRI achieving an adjusted EBITDA margin greater than 13%
or repaying about $150 million of debt over the next few years.

S&P could lower the rating if it becomes convinced that the
company will be unable to consistently generate positive
discretionary free cash flow or will face a material cash deficit
in the next 12 months.  These scenarios would likely involve IRI
engaging in large acquisitions or operating at an adjusted EBITDA
margin below 9% because of weak synergies from recent acquisitions
or continued client losses.


INNES MCINTYRE: Ch.7 Trustee Can't Sell Prattville Shopping Mall
----------------------------------------------------------------
Bankruptcy Judge William R. Sawyer denied two motions filed by the
Chapter 7 Trustee for debtor Innes T. McIntyre IV:

     (1) Motion to Approve Compromise; and

     (2) Motion to Sell Property Free and Clear of Liens.

Branch Banking & Trust Co. objected to both motions.

The Chapter 7 Trustee, Daniel G. Hamm, was present by counsel
Robert D. Reynolds.

BB&T was present by counsel Joe A. Joseph, ServisFirst Bank was
present by counsel Thomas P. Griffin, Jr., Innes T. McIntyre was
present by counsel Jamie A. Wilson and Mitzi McIntyre and McIntyre
Land Co., Inc., were present by counsel Scott M. Speagle.

On March 8, 2010, Innes McIntyre filed a petition (Bankr. M.D.
Ala. Case No. 10-30570-WRS) in bankruptcy pursuant to Chapter 11
of the Bankruptcy Code.  On September 20, 2010, he voluntarily
converted his case to a case under Chapter 7.  Daniel G. Hamm was
later appointed Chapter 7 Trustee in this case.

In furtherance of his duties as Chapter 7 Trustee, Hamm filed an
Adversary Proceeding styled: Hamm v. Innes McIntyre, Mitzi
McIntyre and McIntyre Land Co., Inc., Adv. Pro. 11-3097. The
Adversary Proceeding is brought in ten counts, however, a fair
summary of that proceeding can be reduced to four elements, which
are as follows: (1) a determination that McIntyre Land Company,
Inc., is owned by Innes McIntyre and therefore is property of the
estate; (2) a determination that the marital residence occupied by
Debtor Innes McIntyre and his wife Mitzi is, at least in part,
property of the estate in this case; (3) an objection to Innes
McIntyre's discharge pursuant to 11 U.S.C. Sec. 727; (4) a money
judgment against Mitzi McIntyre on a theory that transfers to her
by McIntyre Land were fraudulent conveyances.

Because of the complexity of the Trustee's Adversary Proceeding
and the demand for a jury trial made by Mitzi, the Bankruptcy
Court did not have jurisdiction to hear all of the claims made by
the Trustee. Those issues triable before a Bankruptcy Judge were
scheduled for trial on November 17, 2014, with the remainder of
the issues to be tried in the District Court later. The parties to
the Adversary Proceeding announced that they had reached a
settlement during a pretrial hearing. As the Trustee's power to
settle is subject to approval by the Court, after notice to
creditors with an opportunity to be heard, the agreement did not
terminate the Adversary Proceeding.

On November 12, 2014, the Trustee filed a Motion to Approve
Compromise and a Motion to Sell Property Free and Clear of Liens.
The proposed settlement agreement contains three distinct pieces
which are linked. That is, if any part of the settlement is not
approved, there is no deal. The agreement may be summarized as
follows:

     1. Defendants Innes and Mitzi McIntyre will concede that
McIntyre Land is property of the estate in this case.

     2. Innes and Mitzi will purchase the Prattville Square
Shopping Center, which is owned by McIntyre Land, from the estate
for $740,000, free and clear of all liens and encumbrances,
including the mortgages held by BB&T and ServisFirst Bank.

     3. Innes and Mitzi will pay an additional $180,000 to the
Trustee to settle all remaining claims.

In return for this, the Trustee will agree to a dismissal, with
prejudice, of Adversary Proceeding 11-3097. This would mean that
Innes would get his Chapter 7 discharge, the marital residence
would not be taken, Mitzi would not be exposed to liability for
fraudulent conveyances and that the McIntyres would not be at risk
for further claims from the Trustee.

BB&T and ServisFirst object on a number of grounds:

     -- they contend that the Prattville Square Shopping Center is
not property of the estate in this case and for that reason cannot
be sold pursuant to 11 U.S.C. Sec. 363.

     -- they contend that there is no valid business reason for
the sale and that it cannot be sold pursuant to Sec. 363(b).

     -- they contend that the price is inadequate.

     -- they contend that the sale does not satisfy any of the
disjunctive conditions of Sec. 363(f) and for that reason, the
property cannot be sold free and clear.

     -- BB&T contends that the proposed sale is improper because
it is cast in such a manner so as to defeat their right to credit
bid on property.

The Court concludes that the first two objections are well taken,
and did not reach the remainder of objections.  As the motion to
sell property pursuant to Sec. 363 is denied, it follows that the
motion to approve the compromise must also be denied, the Court
says.

The Court agrees that the subject property is not property of the
estate and for that reason, it cannot be sold pursuant to Sec.
363.  Also, there is no valid business reason for the sale.

Because the motion to compromise is contingent upon the private
sale of the Prattville Square Shopping Center and because that
sale is not approved, the motion to approve the compromise is
denied, the Court adds.

A copy of the Court's Dec. 23, 2014 Memorandum Decision is
available at http://is.gd/mUIZh4from Leagle.com.


INSTITUTO MEDICO: Taps Hooper Lundy as Special Counsel
------------------------------------------------------
Instituto Medico Del Norte Inc. asks the U.S. Bankruptcy Court
for the District of Puerto Rico for permission to employ Robert L.
Roth, Esq. and the firm of Hooper, Lundy & Bookman, P.C., as its
special counsel.

The firm will provide Hospital Wilma N. Vazquez with legal
services relating to resolving the Hospital's Medicare DSH Part C
days issue, which is currently pending in the Hospital's appeal
before the Provider Reimbursement Review Board for fiscal years
2003, 2004, 2005 and 2006.

Mr. Roth will be retained by the Debtor for an initial flat fee of
$5,000 and an additional 10% of any recovery on the claims being
collected on behalf of the Debtor, plus reasonable expenses.

The Debtor assures the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Mr. Roth can be reached at:

   Robert L. Roth, Esq.
   HOOPER, LUNDY & BOOKMAN, P.C.
   401 9th Street, NW, Suite 550
   Washington, D.C. 20004
   Tel: (202) 580-7700
   Fax: (202) 580-7719
   E-Mail: rroth@health-law.com

                      U.S. Trustee Objection

Guy G. Gebhardt, the United States Trustee for Region 21, objects
to the compensation provisions of the second application that
attempts to establish that any fee or retainer disbursed will be
regarded as non-refundable; earned upon receipt, not to be
property of the estate and not applied to interim billing.

According to the U.S. Trustee, the fee or retainer cannot cease to
be property of the estate and cannot be regarded as non-refundable
or earned upon receipt in contravention of Section 330 of the
Bankruptcy Code, which provides that professional fees are not
earned without prior approval of the court.  Therefore, by
operation of Section 330 in the event the fee or retainer is not
used up as payment for the services provided the balance of
unearned monies must be returned to Debtor, the U.S. Trustee
points out.

The U.S. Trustee adds, as to the $5,000 fee or retainer which is
to be disbursed post-petition to the proposed professional, the
post-petition disbursement is not in the ordinary course of the
Debtor's business and can only be allowed, if the circumstances so
warrant it.

                      About Instituto Medico

Instituto Medico del Norte, Inc. -- aka Centro Medico Wilma N.
Vazquez, aka Hospital Wilma N. Vazquez Skill Nursing Facility of
Centro Medico Wilma N. Vazquez -- sought protection under Chapter
11 of the Bankruptcy Code on Oct. 30, 2013 (Bankr. D.P.R. Case No.
13-08961). The case is assigned to Judge Mildred Caban Flores.

The Debtor scheduled $20,843,692 in total assets and $20,107,642
in total liabilities.  The Debtor, however, said its real property
has a book value of $16,000,000 and personal property is worth
$6,105,979.

The Debtor is represented by Fausto David Godreau Zayas, Esq., and
Rafael A. Gonzalez Valiente, Esq., at Latimer Biaggi Rachid &
Godreau, in San Juan, Puerto Rico.  Luis B. Gonzalez & Co. CPA's
P.S.C. serves as accountant.

The U.S. Trustee for the District of Puerto Rico in December
appointed Dr. Carlos Mellado (b/t Lcda Dinorah Collazo Ortiz) as
patient care ombudsman.


INTERLEUKIN GENETICS: Raises $10 Million in Financings
------------------------------------------------------
Interleukin Genetics, Inc., has entered into a securities purchase
agreement with various accredited investors to raise gross
proceeds of $5 million in a private placement financing.  The
syndicate is comprised of new and existing investors including two
leading life sciences investment firms, New Enterprise Associates
(NEA) and Bay City Capital.

Pursuant to the purchase agreement, the Company has agreed to
issue an aggregate of 50,099,700 shares of the Company's common
stock at a price per share of $0.1003, as well as warrants to
purchase up to an aggregate of 50,099,700 shares of common stock.
The warrants have a term of seven years and an exercise price of
$0.1003 per share.  BTIG, LLC, served as the placement agent for
the private placement.

Separately, Interleukin also entered into a venture loan and
security agreement with Horizon Technology Finance Corporation
(NASDAQ: HRZN) under which the Company has borrowed $5 million.
In connection with the loan agreement, the Company has issued to
Horizon warrants to purchase a total of 2,492,523 shares of common
stock at a per share exercise price of $0.1003.  The lender
warrants have a term of 10 years.  The Company has agreed to repay
the loan in 45 monthly payments, including an initial 15-month
period of interest-only payments.

Net proceeds from the private placement and loan will be used
primarily to accelerate commercialization of the Company's
proprietary genetic tests, including PerioPredict, which
identifies genetic variations that increase the risk for severe
periodontal disease, and for general corporate and working capital
purposes.

                         About Interleukin

Waltham, Mass.-based Interleukin Genetics, Inc., is a personalized
health company that develops unique genetic tests to provide
information to better manage health and specific health risks.

Interleukin Genetics incurred a net loss of $7.05 million on $2.42
million of total revenue for the year ended Dec. 31, 2013, as
compared with a net loss of $5.12 million on $2.23 million of
total revenue in 2012.

As of Sept. 30, 2014, the Company had $4.45 million in total
assets, $3.51 million in total liabilities, all current, and
$937,289 in total stockholders' equity.

Grant Thornton LLP, in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 3, 2013.  The independent auditors noted
that the Company has incurred recurring losses from operations and
has an accumulated deficit that raise substantial doubt about the
Company's ability to continue as a going concern.

                         Bankruptcy Warning

The Company warned in its quarterly report for the period ended
Sept. 30, 2014, that it if fails to obtain additional capital by
Feb. 28, 2015, it may have to end its operations and seek
protection under bankruptcy laws.

"We expect that our current and anticipated financial resources
will be adequate to maintain our current and planned operations
only through February 28, 2015.  We need significant additional
capital to fund our continued operations, including for the
continued commercial launch of our PerioPredictTM test, continued
research and development efforts, obtaining and protecting patents
and administrative expenses.  We have retained a financial
advisor, however, based on current economic conditions, additional
financing may not be available, or, if available, it may not be
available on favorable terms.  In addition, the terms of any
financing may adversely affect the holdings or the rights of our
existing shareholders.  For example, if we raise additional funds
by issuing equity securities, further dilution to our then-
existing shareholders will result.  Debt financing, if available,
may involve restrictive covenants that could limit our flexibility
in conducting future business activities.  We also could be
required to seek funds through arrangements with collaborators or
others that may require us to relinquish rights to some of our
technologies, tests or products in development.  If we cannot
obtain additional funding on acceptable terms, we may have to
discontinue operations and seek protection under U.S. bankruptcy
laws."


INVENT VENTURES: Needs Financing to Continue as Going Concern
-------------------------------------------------------------
INVENT Ventures, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $128,000 on $74,300 of total revenue for
the three months ended Sept. 30, 2014, compared with a net loss of
$266,000 on $33,600 of total revenue for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed
$5.22 million in total assets, $1.43 million in total liabilities,
and stockholders' equity of $3.79 million.

The Company incurred a loss from operations of $344,000 during the
nine months ended Sept. 30, 2014.  The Company's only sources of
cash flow have been from investments in the Company's common
stock, borrowing on the company's line of credit, issuances of
convertible notes, management fees from portfolio companies, and
loans from its CEO.  If the Company is unable to continue to raise
sufficient capital to meet its operating needs or generate cash
flow from operations, substantial doubt exists regarding the
Company's ability to continue as a going concern.

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

                       http://is.gd/KuEj1O

                      About INVENT Ventures

Las Vegas, Nevada-based INVENT Ventures, Inc., formerly known as
Los Angeles Syndicate of Technology, Inc., is a technology venture
fund that creates, builds, and invests in web and mobile
technology companies.  The Company develops businesses in the
consumer Internet, mobile and biotechnology markets, and owns six
companies at different stages of development.


ISTAR FINANCIAL: S&P Corrects Secured Debt Rating to 'B+'
---------------------------------------------------------
Standard & Poor's Ratings Services corrected by lowering its
rating on iStar Financial Inc.'s senior secured debt to 'B+' from
'BB-'.  S&P affirmed the rating in error on Dec. 12, 2014, when
S&P implemented its revised issue-level criteria for nonbank
financial institutions to iStar.  Under that criteria, S&P no
longer rates secured debt above the issuer credit rating.  S&P's
issuer credit rating on iStar is 'B+'.  The change in the rating
did not result from any change in the creditworthiness of the
debt.


KANGADIS FOOD: Court OKs Stipulation, Closes Reorganization Case
----------------------------------------------------------------
U.S. Bankruptcy Judge Sandra J. Feuerstein approved a stipulation
dismissing appellants Joseph Ebin and Yeruchum Jenkins' appeal on
the order denying their motion to dismiss Kangadis Food, Inc.'s
petition for bankruptcy, or, in the alternative, for relief from
the automatic stay.

In this relation, the Clerk of Court will close the case.

As reported in the Troubled Company Reporter on Dec. 12, 2014,
Sara Randazzo, writing for Daily Bankruptcy Review, reported that
Kangadis Food won approval to leave bankruptcy after reaching a
deal to pay $2 million to get rid of a class-action lawsuit
accusing it of marketing an industrially processed product as pure
olive oil.  According to the report, citing Adam Rosen, an
attorney for the company, Judge Robert Grossman in U.S. Bankruptcy
Court in Central Islip, N.Y., signed off on Kangadis' creditor-
repayment plan during a hearing.

                       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.


KENTUCKY ECONOMIC: Moody's Maintains Ba3 Senior Lien Bonds Rating
-----------------------------------------------------------------
Moody's Investors Service maintains the underlying Ba3 rating with
a stable outlook on the Kentucky Economic Development Finance
Authority's (KEDFA) Louisville Arena Project Revenue Senior Lien
Bonds. Debt outstanding includes: $319 million Series 2008-A
bonds, $15 million Series 2008-B bonds and $9.9 million Series
2008-C bonds. The Series A bonds consist of $284 million of
current interest fixed rate bonds and $26.9 million of capital
appreciation bonds. The Series B bonds are taxable fixed rate
bonds. Both issues are insured by Assured Guaranty Corp. (A3,
negative outlook). The Series C bonds are unrated and uninsured.

Rating Rationale

The rating reflects the arena's narrow operating margins with a
debt service coverage ratio (DSCR) below 1.1 times, low liquidity
including a depleted Renovation and Replacement reserve, and
dependence on volatile sales tax based TIF revenue for about a
quarter of pledged revenues. The rating incorporates the fact that
about two-thirds of annual revenues are derived from relatively
more predictable sources, including payments from Metro
Louisville, property taxes collected in the TIF district and long-
term contracted sponsorship and naming rights revenues.

The rating also recognizes recent improvements that have yielded
positive results to date. These include the re-sizing of the TIF
district to generate additional revenue and the addition of AEG as
operations manager. While these improvements have yielded higher
revenue growth to date and are likely to continue to increase as
the general economy improves, LAA's financial profile is not
expected to materially improve for at least a couple of years
given the authority's ascending debt service payment requirements
and limitations related to its operating agreements. The
performance of the University of Louisville's men's and women's
basketball team remains a key driver of long-term demand and
revenue growth.

Outlook

The stable outlook is based on Moody's view that the arena's
operating margins will remain narrow with debt service coverage at
or below 1.1 times in the near term, including the Metro
Louisville maximum payments. This is due to rising fixed debt
service costs that require annual revenue growth to maintain the
current financial profile. Sales tax revenues generated from the
redefined 2-sq mile TIF district are likely to continue to
increase in step with regional economic improvement, and Moody's
expect AEG will continue to deliver its annual minimum guaranteed
payment that is expected to continue to adequately cover LAA's
operating expenses.

What Could Change the Rating -- UP

Sustained improvements in debt service coverage to over 1.2 times,
replenished reserves, greater than projected sales tax revenue
growth in the TIF district and arena revenue growth could exert
upward pressure on the rating.

What Could Change the Rating -- DOWN

The rating could face downward rating pressure if revenues are
inadequate to cover all costs resulting in a shortfall in debt
service payments that require the use of the debt service reserve
fund.

Credit Strengths

-- Strong support from the state and Metro Louisville decreases
    the demand risk for the arena and provides a base level of
    cash flow predictability

-- Strong attendance record for the arena's anchor tenant, the
    University of Louisville's men's and women's Cardinals
    basketball teams, provides stability

-- The contract granting the TIF revenues can only be canceled
    with approval of the bond trustee

-- Recent operational improvements have yielded increasing
    revenues

Credit Challenges

-- Narrow operating margins with a low total debt service
    coverage ratio below 1.1 times and weak liquidity

-- Steady and continuous growth in volatile TIF sales taxes is
    needed to support rising debt service costs

-- TIF district exempts certain developments from payment of all
    or some of the taxes pledged to the project. Future
    developments could be added to the TIF district exemptions by
    action of the legislative council of Metro Louisville, but
    not without approval by the state and the authority.

-- LAA's revenue sharing lease with ULAA limits the authority's
    profit upside from the successful anchor tenant

Rating Methodologies

The principal methodology used in this rating was Generic Project
Finance Methodology published in December 2010. The additional
methodology used in this rating was US Public Finance Special Tax
Methodology published in January 2014.


KIOR INC: Asks Court to Set Claims Bar Date
-------------------------------------------
KiOR Inc. asks the U.S. Bankruptcy Court for the District of
Delaware to set the deadline for creditors to file proofs of claim
in the case.

For claims arising before Nov. 9, 2014, the Debtor asks the Court
to set at least 30 days after the service date at 5:00 p.m.
(prevailing Eastern time) as the Claims Bar Date.  Meanwhile, all
governmental units must file their claims no later than 5:00 p.m.
(prevailing Eastern time) on May 8, 2015.

All proofs of claim must be filed either by:

  a) regular mail:

     KiOR Inc.
     Claims Processing Center
     c/o Epiq Bankruptcy Solutions LLC
     Grand Central Station
     P.O. Box 5283
     New York, NY 10163-5283

  b) overnight mail courier:

     KiOR Inc.
     Claims Processing Center
     c/o Epiq Bankruptcy Solutions LLC
     757 Third Avenue, 3rd Floor
     New York, NY 10017

                          About Kior Inc.

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

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

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

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

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


KIOR INC: Files Schedules of Assets and Liabilities
---------------------------------------------------
KiOR Inc. filed its schedules of assets and liabilities, and
statement of financial affairs in the U.S. Bankruptcy Court for
the District of Delaware, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property
  B. Personal Property           $31,228,986
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $237,373,500
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $746,297
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $4,270,665
                                 -----------      -----------
        TOTAL                    $31,228,986     $242,390,463

A full-text copy of the Debtor's schedules is available for free
at http://is.gd/eQW8Bd

                          About Kior Inc.

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

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

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

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

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


LAS VEGAS SANDS: Fitch Raises Issuer Default Rating From 'BB+'
--------------------------------------------------------------
Fitch Ratings has upgraded Las Vegas Sands Corp.'s (LVS) and its
subsidiaries Issuer Default Ratings (IDR) to 'BBB-' from 'BB+' and
upgraded the subsidiaries' senior secured credit facilities to
'BBB' from 'BBB-'.  The rating actions affect LVS' Las Vegas
Sands, LLC (LVS LLC), Sands China, Ltd. (Sands China), VML US
Finance, LLC (VML US) and Marina Bay Sands Pte. Ltd (MBS), whose
IDRs are all linked.  In addition, the Rating Outlook is revised
to Stable from Positive.

Key Rating Drivers

Fitch's upgrade of LVS' IDR to 'BBB-' mainly reflects the
company's demonstrated commitment to maintaining conservative
financial policies since it started to wind down its comprehensive
capital development pipeline and return cash to shareholders about
three years ago.  The company's publicly stated goal is to
maintain gross leverage below about 3x before additional debt
related to large-scale development.

The 3x gross leverage goal is well within Fitch's 4x gross
leverage target (3.5x on net basis) for an investment-grade IDR
given LVS' overall credit risk profile, although the Fitch-
calculated ratio is about 0.4x higher relative to the company's
calculation.  The difference is attributable to Fitch subtracting
corporate expense and income attributable to minority interest
from EBITDA and Fitch calculates LVS' consolidated gross and net
leverage for the LTM period ending Sept. 30, 2014 at 2.3x and
1.7x, respectively.  LVS has maintained its capital allocation
policies consistent with its leverage goal since mid-2011.  Fitch
believes that maintaining a strong balance sheet as a competitive
advantage when bidding on large-scale casino resort developments
in new gaming jurisdictions is an important motivation to maintain
prudent financial policies.

There is some flexibility around Fitch's leverage targets during
the peak of a development cycle within the investment-grade
context.  The degree of flexibility will depend on the Fitch's
visibility with respect to the operating environment as well as
Fitch's perceived return on investment (ROI) for the project(s),
whether they are fully funded, and the company's capital
allocation decisions leading up to the peak spending levels (i.e.
preserving adequate liquidity and possibly lessening more
discretionary shareholder-friendly activity).

Other key drivers for LVS' investment-grade IDR include its strong
liquidity, robust discretionary free cash flow and significant
capacity to monetize non-core assets.  LVS also maintains a strong
business profile supported by high-quality assets in attractive
regulatory regimes, which provides the company with the best
global market exposure profile in the industry.

The ratings also consider LVS' history of being an aggressive
developer of large-scale integrated resorts, management's still-
limited track record of adhering to investment-grade-like policies
relative to global investment-grade peers, and corporate
governance issues mainly pertaining to Foreign Corrupt Practices
Act(FCPA) investigations.

Market Outlooks

LVS' LTM (ending Sept. 30, 2014) property EBITDA is 64% Macau, 28%
Singapore, 6% Las Vegas and 2% Pennsylvania.  Gaming revenues in
both Macau and Singapore have been pressured over the past several
months due to the weakness in VIP and premium mass segments.  In
Macau, gaming revenue is pressured by the corruption crackdown in
China, credit tightening among junkets, increased visa
restrictions and the recently implemented smoking ban.

Fitch projects negative growth in Macau gaming revenue of 2% in
2014 and 4% in 2015.  The weakness in Macau is expected to persist
through first-half 2015 (1H'15) until Galaxy Entertainment and
Melco Crown open their respective projects (Fitch estimates LVS'
Parisian will open mid-2016) and the negative trends that began
mid-2014 are lapped.  Fitch is modeling largely flat sequential
growth through 1H'15 and sequential 5%-- 8% mass growth and 2% --
4% VIP growth thereafter.

LVS has lower than market average exposure to the VIP gaming
segment (16% of Sands China's profit), which equates to less
volatile earnings in Macau.  Sands China's year-over-year (YoY)
revenue declines have averaged 6% per month for the past six
months since the declines started in June versus market average
declines of 11%.  Per Fitch's base case, Sands China's EBITDA
declines are in the low teens in 1H'15 and then grow in the mid-
single-digit range in 2H'15.

Despite the negative overall 2015 forecasts, Fitch remains
favorable on Macau's long-term fundamentals, continuing to hold
that Macau and the greater China market remain underpenetrated.
Gaming revenue growth should be driven by new supply and
infrastructure development and the Chinese economy should continue
to grow (6.8% in 2015 and 6.5% in 2016), anchoring mass market
demand.

Singapore is facing challenges in the VIP segment similar to
Macau.  The challenges are accentuated by new competition for
Chinese VIP business from Philippines and by the aggressive
competition from Resorts World Sentosa, MBS' sole competitor in
Singapore.  Positively, VIP gaming only accounts for 11% of LVS'
profits in Singapore.  The mass market remains healthy in
Singapore; however, unlike in Macau the mass market in Singapore
has little room to grow in light of the country's attempt to curb
gambling by the locals and MBS' physical capacity constraints.

Issue-Specific Ratings

The upgrade of the ratings on U.S., Singapore and Macau credit
facilities to 'BBB' from 'BBB-' reflects their significant asset
overcollateralization (OC).  The notch uplift also takes into
account the conservative additional debt and asset disposition
covenants in the credit agreements, with maximum leverage not
allowed to exceed 3.0x-5.5x (the U.S. facility counts Singapore
and Macau dividends in EBITDA).

Asset disposition covenants do provide for certain carve-outs
including the ability to sell certain retail assets in Macao and
Singapore.  The existing Macau facility does not include a lien on
the Parisian project.

The OC of the U.S.-based facility is not as great relative to that
of Singapore and Macau.  The leverage through the U.S. facility is
6.7x as of Sept. 30, 2014 based on LTM EBITDA of the Las Vegas
assets plus the royalty fees from the Macau and Singapore
subsidiaries.  Fitch excludes Sands Bethlehem from the U.S.
leverage calculation although if LVS sells the property it must
use $500 million of the proceeds in excess of intercompany loans
owed to LVS LLC to paydown and permanently reduce LVS LLC's
revolver commitments.  The facility also benefits from LVS LLC's
partial ownership of the Singapore and Macau subsidiaries.  Fitch
may reconsider the one-notch uplift on the U.S. facility versus
the IDR if LVS reorganizes its corporate structure such that the
U.S. issuer no longer owns the Singapore and Macau subsidiaries.

Rating Sensitivities

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

   -- A longer track record of maintaining and complying with LVS'
      existing financial policy;

   -- Gross leverage sustaining below 3.5x on a gross basis and 3x
      on a net basis for an extended period;

   -- Renewal of the Macau gaming concession (expires 2022) and an
      extension of exclusivity in Singapore (expires 2017);

   -- Increased diversification through development in new
      jurisdictions (e.g. Japan, Korea, etc.);

   -- Greater clarity on succession planning.

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

   -- Deviation from LVS' articulated financial policies;
   -- Gross leverage sustaining above 4x on a gross basis and 3.5x
      on a net basis for an extended period;
   -- Macau concession not being renewed or Singapore government
      awarding additional licenses starting 2017;
   -- Meaningful fine(s) or other negative implications connected
      to the FCPA investigations.

With respect to the leverage targets above, there is flexibility
in the event leverage temporarily increases above the stated
targets during peak development cycle in the event LVS develops in
Japan or another jurisdiction where the return on investment
prospects are high.

Fitch has upgraded these ratings:

Las Vegas Sands Corp.

   -- IDR to 'BBB-' from 'BB+', Outlook to Stable from Positive.
Las Vegas Sands LLC

   -- IDR to 'BBB-' from 'BB+', Outlook to Stable from Positive;
   -- US$2.25 billion secured term loan to 'BBB' from BBB-';
   -- US$1.25 billion secured revolving credit facility to 'BBB'
      from BBB-'.

Sands China Ltd. (Sands China)

   -- IDR to 'BBB- 'from 'BB+', Outlook to Stable from Positive.

VML US Finance LLC (VML US)

   -- IDR to 'BBB-' from 'BB+', Outlook to Stable from Positive;

   -- US$2 billion Macau secured revolving credit facility to
      'BBB' from 'BBB-';

   -- US$2.4 billion Macau secured term loan to 'BBB' from 'BBB-'.
      Marina Bay Sands Pte. Ltd. (MBS)

   -- IDR to 'BBB-' from 'BB+', Outlook to Stable from Positive;

   -- SGD500 million Singapore secured revolving credit facility
      to 'BBB' from 'BBB-';

   -- SGD3.7 billion Singapore secured term loan to 'BBB' from
      'BBB-'.


LEHMAN BROTHERS: Sues St. Louis University Over Swaps
-----------------------------------------------------
Joseph Checkler, writing for Daily Bankruptcy Review, reported
that Lehman Brothers Holdings Inc.'s estate is suing Saint Louis
University over soured interest-rate swaps agreements, the latest
in a string of such suits filed by the defunct investment bank.

According to the report, in a filing with U.S. Bankruptcy Court in
Manhattan, Lehman said that after the bank's 2008 bankruptcy
filing caused a termination of the swap deals, the university used
a "commercially unreasonable" method to determine how much it owed
Lehman.  Instead of seeking four dealers to estimate the value of
the swaps, the school sought nine quotations and only used four of
those in an attempt to "lowball" Lehman, Lehman said, the report
added.

                      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.

As of Oct. 2, 2014, Lehman's total distributions to unsecured
creditors have amounted to $92.0 billion.  As of Sept. 30, 2014,
the brokerage trustee has substantially completed customer claims
distributions, distributing more than $106 billion to 111,000
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.


LENCO MOBILE: Reports $2.52-Mil. Net Loss in Sept. 30 Quarter
-------------------------------------------------------------
Lenco Mobile Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $2.52 million on $4.21 million of total
revenue for the three months ended Sept. 30, 2014, compared with
net income of $0.49 million on $3.39 million of total revenue for
the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $6.46
million in total assets, $34.63 million in total liabilities, and
a stockholders' deficit of $28.16 million.

As of September 30, 2014, the Company had cash and cash
equivalents of approximately $0.4 million, and a working capital
deficit of $32.0 million.

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

                       http://is.gd/4R8QUP

                     About Lenco Mobile Inc.

Lenco Mobile Inc. provides consulting and technical services,
together with proprietary technology, for the fast-growing market
for mobile marketing and mobile customer engagement applications.
The company provides customers, including leading wireless
carriers, consumer brands and enterprises, with turnkey solutions
to attract, retain and monetize relationships with customers.
Lenco Mobile offers brand owners the ability to design, manage,
and execute mobile-based marketing campaigns through a variety of
technologies, including MMS messaging with improved messaging
throughput, better quality, and reduced bandwidth usage on a per
message basis.


LOCATION BASED TECHNOLOGIES: CEO Issues Letter to Shareholders
--------------------------------------------------------------
Location Based Technologies Inc. Chief Executive Officer, Dave
Morse, has released a letter to shareholders.

Dear Shareholders,

Year-end is a time for both reflection and a time to look forward.
In looking back at 2014, LBT is particularly proud of achieving
several key milestones in strategic areas:

* Total paid monthly users (defined as the total number of users
   that paid a minimum of $12.95 for a month of service during the
   past year) exceeded 72,000, an increase of more than double
   (123%) compared to the prior year;

* Service income achieved break-even levels in mid-2014, which
   will enable gross margins from service revenues to accelerate
   in future periods as many costs related to service revenue are
   fixed in nature;

* Monthly service income exceeded $100,000 per month starting in
   July 2014;

* Excluding the provision for inventory valuation reserves, the
   Company realized a 20% gross margin on device sales as compared
   to a negative 20% for the previous year; and

* Overall gross margins were positive for the first time in the
   Company's history.

These major advances reinforce LBT's core value proposition of
attracting and retaining customers while creating the potential
for a positive return on investment for you, our shareholders, in
this Internet of Things (IoT) high growth space.

We have focused on cutting our costs in areas with minimal impact
upon our customers and have refocused our resources on growing the
business in 2015 in the following four ways:

* Expanding our US based sales by partnering with a world class
   distributor.  Contract signed.

* Expanding our sales in Mexico through key strategic retail
   outlets.  Contract signed.

* Launching a major initiative focused on partnering with auto
   dealerships in the US.

* Introducing our new 3G PocketFinder devices into the US,
   Canadian and Australian markets.

Our yearend filing can be seen at www.sec.gov and it contains
specific information on each of these key initiatives along with
high level revenue projections.  Customers, employees, business
partners and shareholders intersect with many common expectations
and our commitment at LBT is to deliver the best value and the
strongest results possible to each.  Our vision remains clear and
our resources are aligned - we know that our success is tied to
the growth of our customer base and subscription revenues. That is
our focus.

Each of our key initiatives for 2015 provides dynamic growth
opportunities that will carry us to our ultimate achievement of
profitability.  These exciting initiatives set the stage for what
we believe to be a richly rewarding new year.  We have a team that
is up for and eager to meet these challenges.

As always, we sincerely thank you for your continued hope in the
success of our company and for your continued trust and
confidence.  We look forward to 2015 with excitement and
confidence, hoping that it will be a year of success, growth, and
profits for all.

Sincerely,

David M. Morse, PhD

CEO

                About Location Based Technologies

Irvine, Calif.-based Location Based Technologies, Inc., designs,
develops, and sells leading-edge personal locator devices and
services.

The Company incurred a net loss of $11.04 million for the year
ended Aug. 31, 2013, as compared with a net loss of $7.96 million
for the year ended Aug. 31, 2012.

Location Based reported a net loss of $5.14 million on
$1.70 million of total net revenue for the year ended Aug. 31,
2014, compared to a net loss of $11.04 million on $1.91 million of
total net revenue for the year ended Aug. 31, 2013.

As of Aug. 31, 2014, the Company had $2.32 million in total
assets, $12.31 million in total liabilities and a $9.98 million
total stockholders' deficit.

Friedman LLP, in East Hanover, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Aug. 31, 2014, citing that the Company's
operating losses raise substantial doubt about its ability to
continue as a going concern.

                        Bankruptcy Warning

"[W]e remain obligated under a significant amount of notes
payable, and Silicon Valley Bank has been granted security
interests in our assets.  If we are unable to pay these or other
obligations, the creditors could take action to enforce their
rights, including foreclosing on their security interests, and we
could be forced into liquidation and dissolution.  We are also
delinquent on a number of our accounts payable.  Our creditors may
be able to force us into involuntary bankruptcy," the Company
stated in the Fiscal 2014 Report.


LONGVIEW POWER: Time to Remove Actions Extended to March 22
-----------------------------------------------------------
U.S. Bankruptcy Judge Brendan L. Shannon has approved an extension
of Longview Power LLC's removal period for filing notices of
removal of the Actions by 120 days, up to and including March 22,
2015.

                       About Longview Power

Longview Power LLC is a special purpose entity created to
construct, own, and operate a 695 MW supercritical pulverized
coal-fired power plant located in Maidsville, West Virginia, just
south of the Pennsylvania border and approximately 70 miles south
of Pittsburgh.  The project is owned 92% by First Reserve
Corporation (First Reserve or sponsor), a private equity firm
specializing in energy industry investments, through its affiliate
GenPower Holdings (Delaware), L.P., and 8% by minority interests.

Longview Power, LLC, filed a Chapter 11 (Bank. D. Del. Lead Case
13-12211) on Aug. 30, 2013.  The petitions were signed by Jeffery
L. Keffer, the Company's chief executive officer, president,
treasurer and secretary.  The Debtor estimated assets and debts of
more than $1 billion.  Judge Brendan Linehan Shannon presides over
the case.  Kirkland & Ellis LLP and Richards, Layton & Finger,
P.A., serve as the Debtors' counsel.  Lazard Freres & Company LLC
acts as the Debtors' investment bankers.  Alvarez & Marsal North
America, LLC, is the Debtors' restructuring advisors.  Ernst &
Young serves as the Debtors' accountants.  The Debtors' claims
agent is Donlin, Recano & Co. Inc.

The Debtor disclosed assets of $1,717,906,595 plus undisclosed
amounts and liabilities of $1,075,748,155 plus undisclosed
amounts.

Roberta A. DeAngelis, U.S. Trustee for Region 3, disclosed that as
of Sept. 11, 2013, a committee of unsecured creditors has not
been appointed in the case due to insufficient response to the
U.S. Trustee's communication/contact for service on the committee.


MATTAMY GROUP: S&P Revises Outlook to Neg. & Affirms 'BB' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Oakville, Ont.-based Mattamy Group Corp. to negative from stable.
At the same time, S&P affirmed its 'BB' corporate credit rating on
the company and our 'BB' issue-level rating on the company's
senior unsecured notes.  The recovery rating on the notes is '3',
indicating S&P's expectation for a meaningful (50% to 70%)
recovery in the event of a default.

"The outlook revision to negative from stable is largely driven by
the increased debt we expect to be used to partially finance the
acquisition of Monarch and its impact on Mattamy's credit
measures," said Standard & Poor's credit analyst Matthew Lynam.

The negative outlook reflects S&P's expectation that increased
debt from the company's acquisition of Monarch Homes will result
in debt to EBITDA within the 4x-5x range over the next 12 to 18
months.

S&P could take a negative rating action if adverse conditions in
the U.S. and Canadian housing markets cause the company to
underperform S&P's forecast for home sale volume such that it
believes leverage will be sustained above 5x or if the company's
covenant cushion were to erode further.

S&P could stabilize the outlook on the company if sales volume
outperforms its forecast, causing credit measures to return to the
pre-acquisition level, notably with debt to EBITDA returning to
the 3x-4x range and debt to total capital below 50%, sooner than
anticipated.

Monarch is a leading Canadian builder and developer of detached
single-family homes and both low-rise and high-rise condominium
homes in the Toronto and Ottawa region, largely overlapping with
Mattamy's existing footprint in these regions.


MEDFORD DEVELOPMENT: Case Summary & Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

    Debtor                                         Case No.
    ------                                         --------
    Medford Development Corp.                      14-75666
    701 Montauk Highway
    Bay Shore, NY 11706

    Motor Parkway Enterprises, Inc.                14-75667
    701 Montauk Highway
    Bay Shore, NY 11706

    Wheeler Development, LLC                       14-75668
    701 Montauk Highway
    Bay Shore, NY 11706

    Smithtown Development Corp.                    14-75669

    Brentwood Development Corp.                    14-75670

    Holbrook Development Corp.                     14-75671

    Carman Development Corp.                       14-75672

    Maple Avenue Hauppauge Development Corp.       14-75674

    Port Jefferson Development Corp.               14-75675

    Ronkonkoma Development Corp.                   14-75676

    Islandia Development Corp.                     14-75677

    Oceanside Enterprises Inc.                     14-75678

    Islip Development Corp.                        14-75679

    Westbury Enterprises, Inc.                     14-75680

    Airport Development Corp.                      14-75683

Chapter 11 Petition Date: December 24, 2014

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

Judge: Hon. Alan S Trust

Debtors' Counsel: Michael J Macco, Esq.
                  MACCO & STERN LLP
                  135 Pinelawn Road
                  Suite 120 South
                  Melville, NY 11747
                  Tel: 631-549-7900
                  Fax: 631-549-7845
                  Email: csmith@maccosternlaw.com

                                 Estimated   Estimated
                                   Assets   Liabilities
                                ----------  -----------
Medford Development Corp.       $0-$50,000  $100K-$500K
Motor Parkway Enterprises       $0-$50,000  $100K-$500K
Wheeler Development             $0-$50,000  $500K-$1MM
Westbury Enterprises            $0-$50,000  $100K-$500K

The petitions were signed by Steve Keshtgar, president.

A list of Medford Development's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-75666.pdf

A list of Motor Parkway's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-75667.pdf

A list of Wheeler Development's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-75668.pdf

A list of Westbury Enterprises' 17 largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-75680.pdf


MEG ENERGY: Bank Debt Trades at 5% Off
---------------------------------------
Participations in a syndicated loan under which MEG Energy Corp is
a borrower traded in the secondary market at 95.35 cents-on-the-
dollar during the week ended Friday, December 27, 2014 according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 3.85
percentage points from the previous week, The Journal relates.
MEG Energy Corp pays 275 basis points above LIBOR to borrow under
the facility.  The bank loan matures on March 16, 2020, and
carries Moody's Ba1 rating and Standard & Poor's BBB- rating.  The
loan is one of the biggest gainers and losers among 212 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.


MERCANTIL COMMERCEBANK: Fitch Affirms 'BB' IDR; Outlook Stable
--------------------------------------------------------------
Fitch Ratings has affirmed the Long- and Short-term Issuer Default
Ratings (IDRs) of Mercantil Commercebank Florida Bancorp (MCFB)
and its main subsidiary, Mercantil Commercebank, N.A. at 'BB/B'
with a Stable Outlook.  Through its ultimate domestic holding
company, Mercantil Commercebank Holding Corp. (MCH), the bank is
beneficially owned by Mercantil Servicios Financieros (MSF), one
of the largest financial institutions based in Venezuela.
Although the ratings assigned are for MCFB, Fitch also reviews the
financials for MCH, which is the domestic holding company for MCFB
in the U.S.

Fitch's rating action follows the downgrade of MSF and its
affiliated bank, Mercantil C.A. Banco Universal (Mercantil).

KEY RATING DRIVERS - IDRs, Viability Rating (VR) and Senior Debt

In Fitch's view, MCFB's ratings are not immediately affected by
the downgrade of MSF and/or Mercantil.   Although MCFB is part of
the organizational structure of MSF and the franchise could be
affected by the health of its parent company/and or affiliated
bank, Fitch believes the recent downgrade of its ultimate parent
reflected conditions in Venezuela and believe the impact on the
Florida-based franchise, at this time, is limited.

In Fitch's opinion, contagion risk to MCFB from the parent is
limited at this time.  MCFB's holding company structure isolates
and ring-fences its assets given the strong local regulator which
can restrict transfers of capital and liquidity from the
subsidiary to the parent.  Further, to date, there is no evidence
that MSF has withdrawn liquidity or capital.   Fitch believes that
this supports the independence of the subsidiary's credit profile
from that of its parent.  In general, subsidiary banks can be
vulnerable to a sharp deterioration in the parent's credit
profile.  However, Fitch believes this is a rare case, where the
subsidiary's Viability Rating (VR), and Long-Term IDR, can be
higher than its parent's Long-Term IDR.  In Fitch's review of MCH,
the criteria report 'Rating FI Subsidiaries and Holding
Companies', August 2012, was applied.

Fitch notes that there may be risks to MCFB's Venezuelan deposit
base, such as depositors seeking other U.S.-based banking
institutions in which to deposit their monies given concerns with
MSF and/or Mercantil.  However, to date, MCFB has actually
demonstrated a stable, steady deposit base, despite volatility in
Venezuela.  Furthermore, MCFB has experienced a number of
tumultuous events over the last 10 years that have pressured MSF
in its home market, yet none have materially impacted MCFB's
financial condition (either through loan losses and/or a
meaningful decline in its deposit base).  Nonetheless, should a
change in depositor behavior become prevalent or exposure to
Venezuela lead to credit deterioration, MCFB's ratings may come
under review.

The funding structure is largely core deposit driven, and benefits
from a high volume of international deposits.  The majority of
international funding is sourced from Venezuelan depositors who
have turned to U.S. banks as a safe haven.  These deposits
typically have a very low attrition rate, limited rate sensitivity
and provide a stable source of low-cost funding.  Furthermore,
Fitch also believes MCH's balance sheet has good liquidity with a
combination of cash, cash equivalents and investment securities
representing about 33% of total assets on Sept. 30, 2014, with a
loan-to-deposit ratio of 82%.

MCFB's IDRs reflect its geographic concentration, mainly in South
Florida, risk profile that includes exposure to economic
conditions in Latin America, limited franchise, and modest
earnings metrics.  The company's ratings are supported by its
solid capital levels and good liquidity profile, and Fitch
believes the improvement in credit and financial performance over
the last two years is sustainable.

Although profitability has improved, MCH's earnings measures tend
to be modest when compared to other community banks and are
considered a rating constraint.  Fitch attributes this to the
company's asset mix, which is lower yielding, as cash and
investment securities averaged 29% of total assets over the past
four quarters.  Additionally, MCH's large correspondent banking
business and short-term trade finance business are lower-yielding
than other types of loans, which also constrains spread revenue
and the margin.  Other factors affecting recent performance
include the extended period of low interest rates.

Credit trends have significantly improved from the peak of the
crisis, as net charge-offs (NCOs), nonperforming assets (NPAs),
and the inflows of criticized/classified assets all continue to
decline and return to normalized levels.  Fitch expects future
credit costs to be manageable given the continued reduction in
overall balances in the riskier segments of CRE and construction
portfolios.  For 3Q'14, NPAs, calculated by Fitch to include
accruing troubled debt restructuring, was 0.70% compared to 0.97%
the same period a year ago.  NCOs also declined to 0.09% for 3Q'14
compared to 3.9% at the peak of the crisis year-end 2009.

MCH's capital position is solid and supports the risks inherent in
the bank's business mix. MCH's TCE/TA ratio stood at 8.64% and
Tier 1 Common stood at 13.65%.  Given projected loan growth,
capital is expected to decline slightly but should remain above
peer averages.  The decline should also be manageable given the
expectation of sustainable profitability.

The company has continued to shift its loan mix by reducing real
estate lending and growing its commercial and industrial (C&I)
portfolio.  Although Fitch views the diversification in the loan
mix as a positive, the industry in general has also been growing
C&I loans and competition is fierce.  In general, Fitch is
concerned with the potential for credit quality deterioration,
since performance for these loans is better than historical
averages.

Offsetting this, MCFB's targeted client base is more niche, which
gives the company an opportunity to leverage its expertise in
Latin America as well as in oil-related industries.  Additionally,
the bank also engages in syndicated lending through participations
in large lending arrangements to domestic corporate borrowers.
Participations are entered into with the initial lending group or
purchased in the secondary market.  Although performance to date
has been stable, Fitch will monitor the growth in this segment.

KEY RATING SENSITIVITIES - IDRs, Senior Debt and VR

Given MCFB's geographic concentration in South Florida, its IDRs
are sensitive to market conditions within its footprint.
Additionally, MCFB has a large component of international
exposures (roughly 40% of its lending activity), which is also
affected by economic conditions in Latin America.

MCFB's ratings are on the high end of its rating potential.
Although Fitch recognizes the company's recent improvements in
asset quality and earnings, the company's ties to its parent
company, MSF, and affiliated bank, Mercantil CA Banco Universal
are considered as a rating constraint.

Factors that could trigger negative rating action would be a
change in depositor behavior represented by a declining trend in
deposits.  Although not anticipated, reputational risk is also a
concern given that MCFB's ultimate parent is domiciled in
Venezuela.

Other factors that would be viewed negatively are a decline in
earnings and/or a reversal of recent improvements in credit
performance.  Fitch notes that MCH has experienced above-average
C&I loan growth that is as yet unseasoned.

KEY RATING DRIVERS and SENSITIVITIES - Support and Support Rating
Floors

MCFB has a Support Rating of '5' and Support Rating Floor of 'NF'.
In Fitch's view, MCFB is not systemically important and therefore,
the probability of support is unlikely.  IDRs and VRs do not
incorporate any support.

KEY RATING DRIVERS and SENSITIVITIES - Institutional Support

Over the years, capital ratios have been augmented by capital
contributions from MSF.  Although MSF has demonstrated its
willingness to provide capital support to MCFB and ultimately to
MCB, Fitch assumes that additional contributions from MSF are
unlikely and cannot be relied upon.

KEY RATING DRIVERS - Holding Company

MCH has a bank holding company (BHC) structure with the bank as
the main subsidiary.  The subsidiary is considered core to the
parent holding company, supporting equalized ratings between the
bank subsidiary and the BHC.  IDRs and VRs are equalized with
those of MCH's operating company and bank reflecting its role as
the bank holding company, which is mandated in the U.S. to act as
a source of strength for its bank subsidiaries.

KEY RATING SENSITIVITIES - Holding Company

On a stand-alone basis at the holding company, MCFB's liquidity is
considered ample.  The holding company maintained its own source
of liquidity with cash and investment securities totaling $42
million at Sept. 30, 2014.  Annual MCFB (parent-company only)
interest expense totals approximately $7 million, providing about
6x coverage.  The only debt outstanding at MCH or MCFB consists of
$114 million of trust preferred securities (unrated), issued
privately and through pools.  Double leverage is modest at 111%.

PROFILE

Established in 1979, Mercantil Commercebank, N.A. (MCB), based in
Coral Gables, FL, is a privately held, FDIC insured, nationally
chartered bank, regulated by the Office of the Comptroller of the
Currency (OCC).  The bank has 11 branches throughout Miami-Dade
County, three in Broward County, one in Palm Beach County, one in
New York, NY, and four in Houston, TX.  The bank is ultimately
beneficially owned by Mercantil Servicios Financerios (MSF), the
largest financial group based in Venezuela.

Fitch has affirmed the following ratings, with a Stable Outlook:

Mercantil Commercebank Florida BanCorp.

   -- Long-term IDR at 'BB';
   -- Short-term IDR at 'B';
   -- VR at 'bb';
   -- Support at '5';
   -- Support floor at 'NF'.

Mercantil Commercebank, N.A.

   -- Long-term IDR at 'BB';
   -- Long-term deposits t 'BB+';
   -- Short-term IDR at 'B';
   -- Short-term deposits at 'B';
   -- VR at 'bb';
   -- Support at '5';
   -- Support Floor at 'NF'.


METALICO INC: Enters Into Exchange Agreements with Note Holders
---------------------------------------------------------------
Pursuant to the terms of the previously disclosed Exchange
Agreements between the Company and each of the Note Holders,
respectively, dated Oct. 21, 2014, Metalico, Inc., agreed to
exchange for its outstanding 7% senior subordinated unsecured
convertible notes due April 30, 2028, (i) new convertible notes in
the aggregate principal amount of approximately $14.7 million,
representing the outstanding balance of the Original Convertible
Notes, and (ii) a right to receive a number of additional common
shares in accordance with, and subject to, the terms set forth in
the Exchange Agreements.

Under the terms of the Exchange Agreements, the aggregate number
of Additional Common Shares to be issued to the Note Holders was
equal to (A) the quotient obtained by dividing (x) Ten Million
Dollars ($10,000,000) and (y) 85% of the volume weighted average
of the Weighted Average Prices (as defined in the New Series
Convertible Notes) of the Common Stock during the period
consisting of each of the forty (40) consecutive "Trading Days" as
defined therein beginning on, and including, the Trading Day
immediately following Oct. 21, 2014, less (B) 10,096,928.  The
number representing 85% of the volume weighted average of the
Weighted Average Prices for the Measurement Period was determined
to be approximately $0.4105.  As a result, the Company is
obligated to issue an aggregate of 14,265,815 shares of its Common
Stock to the Note Holders.  Pursuant to Section 4 of the Exchange
Agreements, the Note Holders have the right to defer the issuance
of a portion of their shares until a later date.  The issuance of
the shares of Common Stock was made in exchange for the Original
Convertible Notes pursuant to an exemption from the registration
requirements provided by Section 3(a)(9) under the Securities Act
of 1933, as amended.

                           About Metalico

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

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

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


MF GLOBAL: Settles U.S. Govt. Lawsuit, To Pay $1.3BB
----------------------------------------------------
Bob Van Voris and Gregory Mott at Bloomberg News reports that MF
Global Holdings Ltd. has agreed to pay $1.2 billion in restitution
and a $100 million fine for customer losses tied to the Company's
2011 collapse, settling a U.S. government lawsuit.  Bloomberg News
adds that U.S. District Judge Victor Marrero in Manhattan approved
the agreement on Dec. 24, 2014.

Bloomberg News recalls that the U.S. Commodity Futures Trading
Commission, the main regulator of the Company's failed brokerage
unit MF Global Inc., sued the Company and company officials
including former Chief Executive Officer Jon Corzine in 2013 for
failing to properly supervise workers.  According to the report,
CFTC claimed the Company is responsible for the brokerage's
failure to notify the agency of deficiencies in client accounts,
false statements and improper investments.

Citing the CFTC, Bloomberg News relates that clients have already
received most of what they are owed.  According to Bloomberg News,
the agency said it will continue its litigation against Mr.
Corzine and Edith O'Brien, a former assistant treasurer of the
unit that oversaw the funds.

                         About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of
the world's leading brokers of commodities and listed derivatives.
MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y.
Case Nos. 11-15059 and 11-5058), after a planned sale to
Interactive Brokers Group collapsed.  As of Sept. 30, 2011, MF
Global had $41,046,594,000 in total assets and $39,683,915,000 in
total liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and
11-15810).  On Dec. 27, the Court entered an order installing Mr.
Freeh as Chapter 11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told
creditors with $1.134 billion in unsecured claims against the
parent holding company why they could expect a recovery of 13.4%
to 39.1% from the plan.  As a consequence of a settlement with
JPMorgan, supplemental materials informed unsecured creditors
their recovery was reduced to the range of 11.4% to 34.4%.  Bank
lenders will have the same recovery on their $1.174 billion claim
against the holding company.  As a consequence of the settlement,
the predicted recovery became 18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary,
one of the companies under the umbrella of the holding company
trustee.  Previously, the predicted recovery was 14.7% to 34% on
bank lenders' claims against the finance subsidiary.


MF GLOBAL: CFTC Fines Parent Company $100 Million
-------------------------------------------------
Andrew Ackerman and Alan Zibel, writing for The Wall Street
Journal, reported that the Commodity Futures Trading Commission
said it fined the parent company of failed brokerage MF Global
Inc. $100 million as part of a settlement stemming from the firm's
2011 collapse.

According to the report, the settlement comes on top of a separate
$100 million fine MF Global's brokerage has already agreed to pay
to settle related civil charges over allegations the firm misused
customers' money during the firm's collapse more than three years
ago.  As part of the settlement with the parent company, MF
Global's holding company becomes jointly responsible with its
brokerage unit to pay $1.2 billion in restitution to the failed
brokerage firm's customers, the Journal said.

                         About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of
the world's leading brokers of commodities and listed derivatives.
MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y.
Case Nos. 11-15059 and 11-5058), after a planned sale to
Interactive Brokers Group collapsed.  As of Sept. 30, 2011, MF
Global had $41,046,594,000 in total assets and $39,683,915,000 in
total liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and
11-15810).  On Dec. 27, the Court entered an order installing Mr.
Freeh as Chapter 11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told
creditors with $1.134 billion in unsecured claims against the
parent holding company why they could expect a recovery of 13.4%
to 39.1% from the plan.  As a consequence of a settlement with
JPMorgan, supplemental materials informed unsecured creditors
their recovery was reduced to the range of 11.4% to 34.4%.  Bank
lenders will have the same recovery on their $1.174 billion claim
against the holding company.  As a consequence of the settlement,
the predicted recovery became 18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary,
one of the companies under the umbrella of the holding company
trustee.  Previously, the predicted recovery was 14.7% to 34% on
bank lenders' claims against the finance subsidiary.


MINERAL PARK: Removal Period Extended to March 23, 2015
-------------------------------------------------------
U.S. Bankruptcy Judge Brendan L. Shannon has approved an extension
of Mineral Park Inc.'s removal period for filing notices of
removal of the Actions up to and including March 23, 2015.

                       About Mineral Park

Mineral Park, Inc., Bluefish Energy Corp. and two affiliates
commenced proceedings under Chapter 11 of the Bankruptcy Code in
Delaware on Aug. 25, 2014.  The cases are pending before the
Honorable Kevin J. Carey and are jointly administered under Case
No. 14-11996.

Mineral Park and its affiliated debtors are subsidiaries of
Mercator Minerals Ltd. ("MML"), a mineral resource company engaged
through various subsidiaries in the mining, exploration,
development and operation of its mineral properties in Mohave
County, Arizona, and Sonora, Mexico.

Mineral Park's principal asset is the Mineral Park Mine, a
producing copper-molybdenum mine located near Kingman, Arizona.
Bluefish is the owner and operator of the industrial gas turbine
power generator at the Mine.

British Columbia, Canada-based MML, which has shares trading on
the Toronto Stock Exchange under the trading symbol "ML", is not
included in the bankruptcy filing.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP as
counsel, Evercore Group LLC as investment banker, FTI Consulting,
Inc., as financial advisor, FTI's David J. Beckman as CRO, and
FTI's Paul Hansen as assistant CRO.  Prime Clerk LLC is the claims
and noticing agent.

The U.S. Trustee for Region 3 appointed three creditors of Mineral
Park, Inc. and its affiliates to serve on the official committee
of unsecured creditors.  The Committee selected Stinson Leonard
Street LLP and Hiller & Arban LLC as its counsel.

Mineral Park reported $286,362,131 in total assets and
$266,035,508 in total liabilities.


MJC AMERICA: Has Access to East West Bank's Cash Collateral
-----------------------------------------------------------
The Bankruptcy Court approved a stipulation for MJC America,
Ltd.'s interim continued use of cash collateral.  The Debtor's
sixth stipulation with East West Bank authorizes the use of cash
collateral until June 1, 2015.  The parties have already entered
into several cash collateral stipulations.

The Debtor is represented by:

         David A. Tilem, Esq.
         LAW OFFICES OF DAVID A. TILEM
         206 N. Jackson Street, Suite 201
         Glendale, CA 91206
         Tel: (818) 507-6000
         Fax: (818) 507-6800
         E-mail: davidtilem@tilemlaw.com

                        About MJC America

MJC America, Ltd., doing business as Soleus Air System --
http://www.soleusair.com/-- which sells Soleus-branded air
conditioners and heaters in the U.S., filed for Chapter 11
bankruptcy protection (Bankr. C.D. Cal. Case No. 13-39097) in Los
Angeles on Dec. 10, 2013.

The Debtor selected Law Offices of David A. Tilem ("TILEM") as its
general bankruptcy counsel.  Winston & Strawn LLP serves as
special litigation counsel.

MJC disclosed $14.0 million in total assets and $15.9 million in
liabilities in its schedules.  Accounts receivable of
$9.22 million and inventory of $4.12 million comprise most of the
assets.  East West Bank has a scheduled secured claim of $2.1
million on a line of credit, and Hong Kong Gree Electric
Appliances Sales, Ltd., is owed $4.07 million, but only $288,000
is secured.


MOBILESMITH INC: Shlomo Elia Quits as Director
----------------------------------------------
Mr. Shlomo Elia notified Mobilesmith, Inc.'s board of directors
that he would resign from the Board effective Dec. 31, 2014, in
order to pursue other business interests and not as the result of
any disagreement with the Company, according to a regulatory
filing with the U.S. Securities and Exchange Commission.  Mr. Elia
has been a member of the Board since November 2006.

                      About MobileSmith Inc.

MobileSmith, Inc. (formerly, Smart Online, Inc.) was incorporated
in the State of Delaware in 1993.  The Company changed its name to
MobileSmith, Inc., effective July 1, 2013.  The Company develops
and markets software products and services tailored to users of
mobile devices.  The Company's flagship product is The
MobileSmithTM Platform.  The MobileSmithTM Platform is an
innovative, patents pending mobile app development platform that
enables organizations to rapidly create, deploy, and manage
custom, native smartphone apps deliverable across iOS and Android
mobile platforms.

In its report on the consolidated financial statements for the
year ended Dec. 31, 2013, Cherry Bekaert LLP expressed substantial
doubt about the Company's ability to continue as a going concern,
citing that the Company has suffered recurring losses from
operations and has a working capital deficiency as of Dec. 31,
2013.

The Company reported a net loss of $27.53 million on $339,039 of
total revenues in 2013, compared with a net loss of $4.4 million
on $147,468 of total revenues in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $1.48
million in total assets, $31.23 million in total liabilities and a
$29.75 million total stockholders' deficit.


MOMENTIVE PERFORMANCE: S&P Assigns 'B-' CCR; Outlook Stable
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned a 'B-' corporate
credit rating to Momentive Performance Materials Inc. (MPM).  The
outlook is stable.  At the same time, S&P assigned a 'B' issue
rating and '2' recovery rating to the company's $1.1 billion 3.88%
first-priority senior secured notes due 2021.  In addition, S&P
assigned a 'B-' issue rating and '4' recovery rating to the
company's $250 million 4.69% second-priority senior secured notes
due 2022.

"The ratings reflect what we regard as MPM's 'vulnerable' business
risk profile and 'highly leveraged' financial risk profile," said
Standard & Poor's credit analyst Paul Kurias.

MPM is primarily a manufacturer of silicones that are used in a
wide array of end markets.  It also produces quartz that is used
primarily in the production of semiconductors, but also in
lighting and industrial ceramics.

S&P regards the company's management and governance as weak based
in part on the very aggressive financial policies of the financial
sponsor (which remains the largest owner post-emergence).  In
addition, the company's strategy was historically inconsistent
with its capabilities and marketplace conditions.  If the company
demonstrates a track-record of strategic improvement under new
leadership, S&P could review its assessment.

S&P expects liquidity to be and remain "adequate," with sources
exceeding uses by more than 1.2x and sources minus uses remaining
positive even if EBITDA is 15% less than S&P expects.

The stable outlook indicates S&P's expectation of a modest revenue
increase during the next few years as silicone volume growth is
somewhat offset by continued competitive pricing due to industry
oversupply, and quartz market conditions do not strengthen
significantly.  S&P assumes there will be some operational
restructuring in each of the next two years, and S&P believes
total adjusted debt to EBITDA will remain above or at 6x through
2016.  S&P believes capital spending will increase somewhat in
future years, but it expects the company to use internally
generated funds to finance it.  As a result, S&P expects liquidity
to remain "adequate."

S&P's could lower the ratings if, contrary to its expectations,
liquidity is "less than adequate."  This could result from
deteriorating operating performance, greater-than-expected
operational restructuring or capital spending, or payments
associated with litigation or tax matters.  Factors that could
contribute to weaker operating performance include termination or
substantial revision of the shared services agreement with MSC,
even more competitive pricing actions on the part of competitors,
a sharp spike in raw material costs, or a meaningful reduction in
or loss of business with key customers due to the bankruptcy.

Although S&P does not expect to raise the ratings within the next
year, it could consider a modest upgrade if the company develops a
successful operating track record and generates positive free
operating cash flow post-emergence, adjusted debt to EBITDA
appears poised to drop and remain below 6x, and financial policies
support the maintenance of this leverage level.


MONROE HOSPITAL: Close to Hiring Business Dev't Director, CEO
-------------------------------------------------------------
Jim Summersett, Monroe Hospital, LLC's interim CEO, said that the
hospital is close to hiring a business development director, hopes
to recruit new physicians now that the hospital has emerged from
the bankruptcy process, and hire a permanent CEO, Dann Denny at
The Herald-Times reports.

According to The Herald-Times, the hospital can stop its flow of
red ink by improving its billing practices.  The Herald-Times
quoted Mr. Summersett as saying, "Financially, we work very hard
on the revenue side -- getting paid for what we do -- and that
starts with the documentation of the patient's condition put into
the patient's record by the attending physician.  Prime has made a
science out of understanding how documentation translates to
coding and how coding translates to reimbursements -- with the
intention of getting paid for the work we do."

New owner Prime Healthcare Services has an entire department that
oversees the billing practices of the 30 hospitals it owns and
operates in 10 states, The Herald-Times states, citing Mr.
Summersett.  Prime Healthcare, according to The Herald-Times, has
hired a "clinical documentation specialist" to work with the
hospital's attending physicians starting January 2015, helping
them with their documentation and making sure patients admitted to
the emergency department who should then be admitted to the
hospital are indeed admitted.

The Herald-Times relates that Monroe Hospital has shut down two of
its three primary care clinics in Bloomfield and on Sare Road,
which resulted in a handful of practitioners being laid off.  The
report says that since Prime Healthcare took over the hospital, it
has cut the hospital's staff by about 25 people.

"We are trying to consolidate our overhead by putting all our
(clinic) operations, for the most part, at our Landmark Avenue
facility.  We're working to figure out what that medical group
will look like in the end," The Herald-Times quoted Mr. Summersett
as saying.

                      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.


MUD KING: Court Extends Exclusive Plan Solicitation Period
----------------------------------------------------------
The Hon. Karen K. Brown of the U.S. Bankruptcy Court for the
Southern District of Texas extended the exclusive period of Mud
King Products Inc. in which it may solicit and obtain acceptances
of its Chapter 11 plan for a period of 45 days after the continued
hearing on approval of the Debtor's disclosure statement.

The hearing to approve the Debtor's disclosure statement, as may
be amended, will be held on Jan. 26, 2015, at 10:00 a.m. in
Courtroom #403, 515 Rusk Avenue in Houston, Texas 77002.  The
December 8 hearing was cancelled.

                       About Mud King Products

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

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

                            *   *   *

On July 1, 2014, the Debtor filed its Chapter 11 Plan and
Disclosure Statement.  The Plan provides that Allowed General
Unsecured Claims of greater than $50,000 will receive a pro rata
share of equal quarterly payments for a period of twenty quarters
until such claims are paid in full, with simple interest at the
rate of 5% per annum accruing from the Effective Date.  The Court
has yet to approve the Disclosure Statement describing the Plan.


NEIMAN MARCUS: Bank Debt Trades at 3% Off
-----------------------------------------
Participations in a syndicated loan under which Neiman Marcus
Group Inc is a borrower traded in the secondary market at 97.72
cents-on-the-dollar during the week ended Friday, December 27,
2014 according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 1.59 percentage points from the previous week, The
Journal relates.  Neiman Marcus Group Inc pays 300 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Oct. 16, 2020, and carries Moody's B2 rating.  The loan is one
of the biggest gainers and losers among 212 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


NEWALTA CORP: Moody's Affirms Ba3 Corporate Family Rating
---------------------------------------------------------
Moody's Investor's Services affirmed Newalta's Ba3 Corporate
Family Rating, Ba3-PD Probability of Default Rating and B1 senior
unsecured notes rating. Moody's also raised Newalta's Speculative
Grade Liquidity Rating to SGL-2 from SGL-3.The outlook remains
stable.

"The affirmation reflects Newalta's low leverage following the
announced sale of its Industrial Division and increasing growth in
its Heavy Oil segment," said Paresh Chari, Moody's Analyst, "As
well, Newalta's liquidity improves, which will help it weather an
industry downturn."

Upgrades:

Issuer: Newalta Corporation

  Speculative Grade Liquidity Rating, Raised to SGL-2 from SGL-3

Outlook Actions:

  Outlook, Remains Stable

Affirmations:

  Probability of Default Rating, Affirmed Ba3-PD

  Corporate Family Rating, Affirmed Ba3

  Senior Unsecured Regular Bond/Debenture Apr 1, 2021, Affirmed
  B1(LGD4)

  Senior Unsecured Regular Bond/Debenture Nov 14, 2019, Affirmed
  B1(LGD4)

Summary Rating Rationale

Newalta Corporation's Ba3 CFR reflects its modest size within the
broader oilfield services and waste management industries and
susceptibility of cash flows to volatile oil & gas drilling
activity. However, the rating also considers that only a third of
Newalta's EBITDA is tied to drilling activity with a significant
amount of EBITDA tied to reducing waste from oil sands production.
As well, Newalta has regulatory permits and technological
expertise that provide competitive advantages, a long-standing
customer base and favorable leverage.

The SGL-2 Speculative Grade Liquidity rating reflects good
liquidity pro forma for the Industrial Division sale. Newalta will
have about C$100 million of cash and C$260 million available
(after C$20 million in letters of credit) under its C$280 million
secured revolver due July 2016. Moody's expect Newalta's heavy
growth capital spending to result in negative free cash flow of
about C$120 million from September 30, 2014 to December 31, 2015,
which can be funded with cash and its revolver. Moody's expect
Newalta will remain well in compliance with its three financial
covenants through 2015. Newalta has no refinancing risk over the
next 12 to 18 months. Alternate liquidity is somewhat limited by
the fact that all of the assets are pledged to the secured
revolving credit facility lenders.

In accordance with Moody's Loss Given Default (LGD) Methodology,
both the C$125 million and C$150 million senior unsecured notes
are rated B1, which is one notch below the Ba3 Corporate Family
Rating due to the prior-ranking secured credit facility (C$280
million authorized).

The stable outlook reflects the company's regulatory permits and
Moody's expectation that leverage will be maintained below 3x.

The rating could be upgraded if Newalta were to grow its asset
base towards US$3 billion from US$1.1 billion pro forma for the
industrial division sale without significantly degrading its
current leverage.

The rating could be downgraded if adjusted debt to EBITDA appears
likely to remain above 3x, or if critical regulatory permits were
lost.

Newalta is a Calgary, Alberta-based oilfield waste management
service provider.

The principal methodology used in these ratings was Global
Oilfield Services Industry Rating Methodology published in
December 2014. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


NII HOLDINGS: Amends Schedules of Assets and Liabilities
--------------------------------------------------------
NII Holdings, Inc., filed another amended schedules of assets and
liabilities in the U.S. Bankruptcy Court for the Southern District
of New York, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property        $1,216,071,340
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $172,270
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                    $3,068,103,749
                              --------------   --------------
        Total                 $1,216,071,340   $3,068,276,020

As reported in the Troubled Company Reporter on Nov. 13, 2014, the
Debtor reported $3,068,103,749 in liabilities.

A full-text copy of the Debtor's amended schedules is available
for free at http://is.gd/BGjqUN

                         About NII Holdings

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

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.  NII Holdings disclosed
$1,216,071,340 in assets and $3,068,103,749 in liabilities as of
the Chapter 11 filing.

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.


NRG ENERGY: Bank Debt Trades at 2% Off
--------------------------------------
Participations in a syndicated loan under which NRG Energy is a
borrower traded in the secondary market at 97.83 cents-on-the-
dollar during the week ended Friday, December 27, 2014 according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 1.43
percentage points from the previous week, The Journal relates.
NRG Energy pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 1, 2018, and carries
Moody's Baa3 rating and Standard & Poor's BB+ rating.  The loan is
one of the biggest gainers and losers among 212 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


OCWEN FINANCIAL: Fitch Lowers Rating to 'B-' on Regulatory Deal
---------------------------------------------------------------
Fitch Ratings has downgraded the ratings of Ocwen Financial
Corporation (OCN) and its wholly-owned primary operating
subsidiary, Ocwen Loan Servicing, LLC (OLS) to 'B-' from 'B'.  The
downgrade follows the announcement of the company's settlement
with the New York Department of Financial Services (NY DFS) and
the accompanying departure of its Executive Chairman.  The ratings
have also been removed from Rating Watch Negative and assigned a
Negative Rating Outlook.

KEY RATING DRIVERS - ISSUER DEFAULT RATINGS, SECURED AND UNSECURED
DEBT

The downgrade of the long-term Issuer Default Ratings (IDRs)
reflects increased strategic uncertainty following the announced
departure of the firm's Executive Chairman, combined with an
expectation of increased earnings pressure as a result of
heightened compliance standards.

The removal of the Rating Watch Negative reflects the decrease of
near-term risks associated with potential outsized fines and/or
loss of servicing contracts.  In place of these near-term
concerns, however, are longer-term challenges in terms of
strategic direction, leadership and financial performance under a
heightened operational and governance framework, which together
support the assignment of a Negative Rating Outlook.

The terms of yesterday's settlement include both monetary and non-
monetary provisions.  The $150 million settlement, including a
civil penalty of $100 million and restitution of $50 million will
be largely covered by accruals made by the company for legal and
regulatory matters during the third- and fourth-quarters of 2014,
along with cash on-hand as of Sept. 30, 2014.  Fitch calculates
that leverage, as measured by total debt to tangible equity, was
3.69x on a stand-alone basis and 5.28x on a consolidated-affiliate
basis, as of Sept. 30, 2014, which Fitch views to be consistent
with the current rating category.

Beyond the immediate financial impact, however, Fitch expects that
the costs to meet the heightened compliance and governance
standards will create a drag on operating margins.  In addition,
without the ability to continue to utilize affiliate companies for
certain activities, additional operating costs may fall to OCN to
support.

Fitch views William Erbey's announced resignation from OCN and its
related entities as a key driver for the downgrade and Negative
Outlook, as his departure introduces strategic uncertainty with
respect to OCN and its affiliates.  Erbey will step down as an
officer and director of OCN, as well as from the boards of OCN's
related companies as of Jan. 16, 2015.

From a non-monetary perspective, OCN is expected to seek to
strengthen its corporate governance and will agree to not share
any common officers or employees with any related parties and will
not share risk, internal audit or vendor oversight functions with
any related party.  Any OCN employee, officer, or director owning
more than $200,000 equity in any related party must be recused
from negotiating or voting to approve a transaction with the
related party, if the transaction size exceeds $120,000 in revenue
or expense.

Fitch believes that the appointment of an independent operations
monitor for a minimum of two years to recommend and oversee the
implementation of a more robust operational and corporate
governance framework could stabilize OCN's governance profile.
The monitor is expected to add two independent directors to OCN's
board and consult with them to identify operational issues and to
ensure that they are addressed.  OCN may acquire mortgage
servicing rights upon meeting certain benchmarks specified by the
monitor related to its onboarding, including developing sufficient
risk controls and a written plan to address potential risks and
deficiencies in the onboarding process.

The downgrade of OLS' senior secured term loan to 'B-/RR4' from
'B/RR4' maintains the equalization of the senior secured term loan
rating with the IDRs assigned to OCN and OLS and continues to
reflect average recovery prospects in a stressed scenario based
upon collateral coverage for the term loan.  The term loan is
secured by a first priority interest in all unencumbered assets of
the company and a pledge of the capital stock of all subsidiaries.

The downgrade of OCN's senior unsecured notes to 'CC/RR6' from
'CCC/RR6' maintains the two notch differential between the senior
unsecured notes and the IDR assigned to OCN and reflects the
company's predominately secured funding profile and the modest
level of unencumbered balance sheet assets available to support
the unsecured noteholders in a stressed scenario.

RATING SENSITIVITIES - OCN IDR AND UNSECURED DEBT

The ratings could be further downgraded as a result of sustained
strategic and management uncertainty or a materially modified
strategic direction for the firm, if it proves to be adverse to
creditors.  Additional material fines and penalties, further
restrictions on business activities, or termination of servicing
duties could result in negative rating action, as could a material
deterioration in financial performance resulting from a reduction
in operating cash flow generation and/or available liquidity, a
sustained increase in balance sheet leverage on a standalone or
consolidated-affiliate basis, and/or aggressive capital
management.

Fitch does not envision positive rating momentum for OCN at this
time.  The Rating Outlook could be revised to Stable if OCN can
successfully comply with the independent monitor and the consent
order, address current strategic and leadership uncertainty and
strengthen its overall operational and corporate governance
framework and/or its financial position.

Revision of the Rating Outlook is dependent on greater clarity
with respect to OCN's organization structure, strategic direction
and leadership, following the announced departure of its Executive
Chairman.  In addition, OCN's ability to navigate continued
regulatory scrutiny and address and meet the requirements under
the consent order will also influence the resolution of the
Outlook.

The ratings of the unsecured notes will be sensitive to any
changes in OCN's long-term IDR as well as to changes in OCN's
funding profile, the mix of secured versus unsecured funding, and
unencumbered asset coverage.  A material increase in unsecured
funding combined with a material improvement in unencumbered asset
coverage could reduce the notching between the IDR and the
unsecured notes and/or improve the RR.

RATING SENSITIVITIES - OLS IDR AND SECURED DEBT

OLS is a primary operating company, and wholly-owned subsidiary of
OCN.  The ratings of OLS are aligned with those of OCN because of
the unconditional guaranty provided by OCN and its guarantor
subsidiaries.  Therefore, the ratings for OLS are sensitive to the
same factors that might drive a change in OCN's IDR.

The ratings of the senior secured term loan are sensitive to
changes OCN and OLS's IDRs as well as changes in collateral values
and advances rates under the secured borrowing facilities, which
ultimately impact the level of available asset coverage.

Fitch originally placed the ratings of OCN and OLS on Rating Watch
Negative on Oct. 24, 2014, following material issues raised by the
NY DFS regarding OCN's servicing practices.  More recently, the
Office of Mortgage Settlement Oversight (OMSO) also identified two
issues in a report on the servicer's compliance with the National
Mortgage Settlement (NMS) related to processes in OCN's internal
review group and the letter dating issue raised by the NY DFS in
October.

Fitch has removed from Rating Watch Negative and downgraded thew3
ratings:

Ocwen Financial Corporation

   -- Long-term IDR to 'B-' from 'B';
   -- Senior unsecured notes to 'CC/RR6' from 'CCC/RR6'.

Ocwen Loan Servicing, LLC

   -- Long-term IDR to 'B-' from 'B';
   -- Senior secured term loan to 'B-/RR4' from 'B/RR4'.

Fitch has removed from Rating Watch Negative and affirmed these
rating:

Ocwen Financial Corporation

   -- Short-term IDR at 'B'.

The Rating Outlook is Negative.


OMNICARE INC: Anti-kickback Lawsuit No Impact on Moody's Ba3 CFR
----------------------------------------------------------------
Moody's Investors Service said that the Department of Justice's
(DOJ) kickback lawsuit against Omnicare Inc. is credit negative as
it raises legal and regulatory risks and increases uncertainties
around Omnicare's future financial and liquidity position.
However, there is no immediate impact on Omnicare's ratings,
including its Ba3 Corporate Family Rating, and stable rating
outlook.

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

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


ONE SOURCE: Seeks Jan. 15 Extension of Schedules Filing
-------------------------------------------------------
One Source Industrial Holdings, LLC, asks the U.S. Bankruptcy
Court for the Northern District of Texas, Fort Worth Division, to
extend through and including Jan. 15, 2015, its deadline for
filing its schedules of assets and liabilities and statements of
financial affairs.

According to the Debtor, filing of the Schedules and Statements by
Jan. 15 will allow sufficient time for parties-in-interest to
review those documents in advance of the Section 341 meeting of
creditors on Feb. 6, 2015.

                         About One Source

One Source Industrial Holdings, LLC, sought Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Case No. 14-44996) in Ft. Worth,
Texas, on Dec. 16, 2014.  The case is assigned to Judge Russell F.
Nelms.

The Debtor estimated $10 million to $50 million in assets and
debt.

The Debtor is represented by J. Robert Forshey, Esq., and Suzanne
K. Rosen, Esq., at Forshey & Prostok, LLP, in Ft. Worth, Texas,
serves as counsel to the Debtor.

The meeting of creditors under 11 U.S.C. Sec. 341(a) is slated for
Feb. 6, 2015.  The deadline for filing claims is slated for May 7,
2015.


OVERLAND PARK: S&P Affirms 'BB+' on $45.625MM Revenue Bonds
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its '3' recovery
ratings from Overland Park convention Center Hotel's $45.625
million first-tier refunding revenue bonds series 2007A.  At the
same time, S&P affirmed its 'BB+' issue credit rating on the
bonds.  The outlook is stable.

"The withdrawal of the recovery rating on Overland Park Convention
Center Hotel's issue credit rating reflects the revision in our
project finance criteria," said Standard & Poor's credit analyst
Jayne Ross.

S&P's 'BB+' rating reflects its view that the hotel project
benefits from its location near the convention center, an
experienced hotel operator, the additional security of the
transient guest tax (TGT) revenue, its liquidity, and the recent
completion of the hotel and meeting room renovation.  Partially
offsetting these factors are the hotel's reliance on local
business, transient guests, and the highly competitive and
cyclical hospitality market.

The 412-room, full-service hotel has been operating under the
Sheraton brand since it opened in 2002.  It is in Overland Park,
Kan., an affluent city about 15 miles south of downtown Kansas
City and is connected by a covered walkway to the Overland Park
Convention Center.  The project has two series of debt that it
issued in 2007 that refinanced the 2000 bond issuance.  The first-
tier series 2007A bonds are backed by hotel net revenue and
revenue from a 1.5% transient occupancy tax, while the
subordinated second-tier series 2007B bonds are backed by residual
hotel revenue and revenue from a 4.5% transient occupancy tax.
Both series of bonds are fully amortizing and mature in 2032.
This report addresses the rating on the first-tier bonds only as
Standard & Poor's U.S. Public Finance Group rates the second-tier
bonds.

The hotel's performance continued to improve in 2014, benefiting
in part from increased group business, good transient business, an
active sports market, which has resulted in more visitors to the
soccer and softball complexes; the completion of the hotel's
public spaces and meeting room renovation; and the general pick-up
in the local economy.  For the 12 months ended Oct. 31, 2014,
revenue per available room (RevPAR) was $89.27, up 6.4% from the
prior year driven mainly by a 1.4% increase in occupancy and a
5.1% increase in average daily rate (ADR).  The hotel's
performance was well ahead of the competitive set's RevPAR of
$76.46.

The stable outlook reflects S&P's belief that the project will
maintain its current operating and financial performance and cash
flow stability.  The project's credit measures map to the 'b'
category in the base case.  As result, S&P's guidance for upgrade
and downgrade map to credit measures established for his rating
level.

S&P could raise the rating if the favorable market trends and
occupancy are sustainable, resulting in the project achieving and
maintaining a debt service coverage ratio (DSCR) above 2.5x
throughout a hospitality cycle.  In addition, an upgrade could
occur if S&P revised its view of the hotel's business risk (e.g.,
lower its current OPBA of '9') based on long-term sustained
improvement in the market through a hospitality cycle, in which
case a sustained DSCR of at least 1.7x, could lead to an upgrade.

The project benefits from a one-notch uplift for liquidity
reserves that account for more than 10% of outstanding project
debt, S&P could lower the rating if this changes.  S&P's DSCR
guidance suggests that a project maintain at least 1x in the base
case to sustain a 'b' category rating.  In this case, however, S&P
would expect--given Overland Park's higher 'bb+' rating--the
project maintain at least 1.2x to 1.3x coverage to avoid a
downgrade.


PETRON ENERGY: Shareholders Elected Two Directors
-------------------------------------------------
At the annual meeting of shareholders of Petron Energy II, Inc.,
held on Dec. 19, 2014, the shareholders:

   (1) elected Floyd Smith and David Knepper to the Board of
       Directors, and will serve as directors until the Company's
       next annual meeting or until their successors are elected
       and qualified;

   (2) ratified the appointment of Floyd Smith as the Company's
       CEO, president, secretary and treasurer; and

   (3) ratified the appointment of KWCO PC as the Company's
       independent registered public accounting firm.

On Dec. 24, 2014, Petron Energy effectuated a reverse split of its
issued common shares whereby every One Thousand Five Hundred
(1,500) pre-split shares of common stock were exchanged for one
(1) post-split share of the Company's common stock.  As a result,
the total issued shares of common stock of the Company decreased
from 802,851,856 shares prior to the Reverse Split to 535,235
shares following the Reverse Split.  FINRA confirmed approval of
the Reverse Split on Dec. 23, 2014, and the Reverse Split became
effective on Dec. 24, 2014.  The Reverse Split shares are payable
upon surrender of certificates to the Company's transfer agent.

                        About Petron Energy

Dallas-based Petron Energy II, Inc., is engaged primarily in the
acquisition, development, production, exploration for and the sale
of oil, gas and gas liquids in the United States.  As of Dec. 31,
2011, the Company is operating in the states of Texas and
Oklahoma.  In addition, the Company operates two gas gathering
systems located in Tulsa, Wagoner, Rogers and Mayes counties of
Oklahoma.  The pipeline consists of approximately 132 miles of
steel and poly pipe, a gas processing plant and other ancillary
equipment.  The Company sells its oil and gas products primarily
to a domestic pipeline and to another oil company.

Petron Energy reported a net loss of $4.30 million in 2013
following a net loss of $8.32 million in 2012.

As of Sept. 30, 2014, the Company had $3.74 million in total
assets, $13.83 million in total liabilities and a $10.09 million
total stockholders' deficit.

KWCO, PC, in Odessa, TX, 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
significant operating losses since inception raise substantial
doubt about its ability to continue as a going concern.


PETTERS COMPANY: Trustee Can Use Cash Collateral Until Dec. 31
--------------------------------------------------------------
The Hon. Gregory F. Kishel of the U.S. Bankruptcy Court for the
District of Minnesota authorized Douglas A. Kelley, the duly
appointed Chapter 11 trustee for Petters Company, Inc., et al., to
use the cash collateral by the PBE Chapter 7 Trustee, through and
including Dec. 31, 2015.

On the Petition Date, Petters Worldwide had virtually no available
cash funds, and has since generated funds mostly from the
disposition of various assets and recover on claims in related
bankruptcy proceedings.

As adequate protection from any diminution in value of the
lender's collateral, the trustee will grant replacement liens in
all postpetition assets of Petters Worldwide, including avoidance
actions and other rights to payment arising under Chapter 5 of the
Bankruptcy Code.

                      About Petters Company

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.

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.

The Official Committee of Unsecured Creditors is represented by:
David E. Runck, Esq., Lorie A. Klein, Esq., at FAFINSKI MARK &
JOHNSON, P.A.

Trustee Douglas A. Kelley is represented by James A. Lodoen, Esq.,
Mark D. Larsen, Esq., Kirstin D. Kanski, Esq., Adam C. Ballinger,
Esq., at Lindquist & Vennum LLP.


PLASTIC2OIL INC: Final Hearing in Class Action Settlement Set
-------------------------------------------------------------
As previously reported, on Aug. 8, 2013, Plastic2Oil, Inc.
(formerly known as JBI, Inc.) entered into a stipulation agreement
in potential settlement of the previously reported class action
lawsuit filed by certain stockholders of the Company against the
Company and Messrs. John Bordynuik and Ronald Baldwin (both former
officers of the Company) on behalf of a settlement class
consisting of purchasers of the Company's common stock during the
period from Aug. 28, 2009, through Jan. 4, 2012.

On Dec. 18, 2014, the Court filed and entered its Order
Preliminarily Approving Settlement and Providing for Notice of
Proposed Settlement.  In its Preliminary Approval Order the Court
preliminarily approved the settlement, and scheduled a hearing on
April 27, 2015, at which the Court will be asked to finally
approve the settlement of the litigation and to enter judgment
accordingly.

Any actual settlement is subject to risks and uncertainties
including, among other things, objections from class members to
the terms of the settlement and failure of the Court to approve
the settlement.

Plastic2Oil, Inc., formerly JBI Inc., is a North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement.  The Company's Plastic2Oil (P2O) is a process designed
to provide immediate economic benefit for industry, communities
and government organizations with waste plastic recycling
challenges.  It is also focused on the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.  The Company's
fuel products include No. 6 Fuel, No. 2 Fuel (diesel, petroleum
distillate), Naphtha, Petcoke (carbon black) and Off-Gases. No. 6
Fuel is heavy fuel used in industrial boilers and ships. No. 2
Fuel is a mid-range fuel known as furnace oil or diesel.  Naphtha
is a light fuel that is used as a cut feedstock for ethanol or as
white gasoline in high and regular grade road certified fuels.

As of Sept. 30, 2014, the Company had $8.19 million in total
assets, $6.99 million in total liabilities and $1.19 million in
total stockholders' equity.


PMC MARKETING: Court Dismissed Adversary Suit vs. Villa Blanca
--------------------------------------------------------------
Judge Brian K. Tester of the U.S. Bankruptcy Court for the
District of Puerto Rico granted the Defendant's motion for summary
judgment in the adversary proceeding captioned Noreen Wiscovitch
Rentas, Chapter 7 Trustee v. Villa Blanca VB Plaza LLC, Case No.
12-00071, filed in the bankruptcy case of PMC Marketing Corp.

In the summary judgment motion, the Defendant argues that there
are no genuine issues as to any material facts and that,
therefore, the moving party is entitled to judgment as a matter of
law.  The Defendant alleges that the Plaintiff had the duty to
present a fair, accurate and complete record to which the
Plaintiff has the initial responsibility of informing the Court
the basis for its motion.  The Defendant points to the Plaintiff's
complaint, which indicated that there was little information
regarding transfers because of the Debtor's failure to provide
documentation.

In opposition, the Plaintiff points out that it does not have to
conclusively resolve the disputed issue at hand in order to
prevail in a summary judgment motion.  Therefore, it only needs to
show that evidence supporting the dispute is such that a judge or
jury is required to resolve the differing versions at trial.  The
Plaintiff established that $20,915 is the correct amount as
demonstrated by the Debtor's bank statements as the Debtor made
two monthly payments of $10,457 totaling $20,915 in the months of
January and February of 2009 during the preference period.

Accordingly, the Court opined that there are no genuine issues of
material fact and, thus, a trial is unnecessary.  With no genuine
issues of material facts at hand, the Court said it will not
address whether $10,457 or $20,915 could be avoided by the Trustee
since the Defendant has established the standard of ordinary
course of business exception.

Judge Tester ruled that the Plaintiff failed to present sufficient
evidence to demonstrate that there is a genuine issue of fact in
dispute for a trial, or that summary judgment should be granted in
her favor.  Hence, Judge Tester granted the Defendant's Motion for
Summary Judgment, and the adversary case is dismissed.

A full-text copy of the December 2, 2014 Opinion and Order is
available at http://bit.ly/1AQiaa5from Leagle.com.

PMC Marketing Corp. filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 09-02048) on March 18, 2009.  The case was
converted into a Chapter 7 proceeding on May 19, 2010.  On May 20,
2010, Noreen Wiscovitch-Rentas was appointed the Chapter 7
trustee.


PORTER BANCORP: Has Until June 15 to Regain NASDAQ Compliance
-------------------------------------------------------------
Porter Bancorp, Inc., received a letter from the Listing
Qualifications Department of The NASDAQ Stock Market, notifying it
that the Company's publicly held common shares have not regained
compliance with the minimum $1 bid price per share requirement
following an initial 180 day grace period, according to a
regulatory filing with the U.S. Securities and Exchange
Commission.

Following the Company's submission of written notice of its
intention to cure the deficiency during the second compliance
period by effecting a reverse stock split, if necessary, the Staff
determined that the Company is eligible for an additional 180
calendar day period, or until June 15, 2015, to regain compliance.
If at any time during this additional time period the closing bid
price of the Company's security is at least $1 per share for a
minimum of 10 consecutive business days, the Staff will provide
written notification to the Company that it complies with the
minimum bid price requirement.

If the Company does not regain compliance with the minimum bid
price requirement by June 15, 2015, the Staff will provide written
notification to the Company that its common stock is subject to
delisting.  At that time, the Company may appeal the Staff's
delisting determination to a Hearings Panel.  The Company would
remain listed pending the Panel's decision.  The Company said
there can be no assurance that, if the Company does appeal the
delisting determination by the Staff to the Panel, such appeal
would be successful.

                        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 $33.4 million in 2012 and a net loss
attributable to common shareholders of $105 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 $29.3 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.


PRIME TIME INT'L: Plan Filing Exclusivity Extended to March 16
--------------------------------------------------------------
Judge Madeleine C. Wanslee entered an order granting Prime Time
International Company's third motion for an extension of its
exclusive period to propose a plan.  The judge extended until
March 16, 2015, the Debtors' exclusive period to file a plan, and
until May 18, 2015, the Debtors' exclusive period to solicit
acceptances of that plan.

                   About Prime Time International

Prime Time International Company, formerly known as Single Stick
Inc., manufactures and distributes cigarettes and little cigars.
PTIC has two wholly-owned subsidiaries: USA Tobacco, which
distributes PTIC's products, and 21st Century Brands, LLC, which
distributes non-tobacco consumer products.

Annual sales are $40 million and the company's products are in
100,000 convenience stores in North America.  The company has
direct accounts with each of the top 25 largest convenience store
distributors in the United States.

Prime Time and its two subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Lead Case No. 14-03518) in Phoenix on
March 15, 2014.  The Debtors have tapped Greenberg Traurig as
attorneys, Odyssey Capital Group, LLC, as financial advisors, and
Schian Walker, P.L.C., as conflicts counsel.

The Debtors disclosed $26.78 million in total assets and
$23.37 million in total liabilities as of Jan. 31, 2014.


PROTECTION SYSTEMS: Former Litigation Counsel's Claim Disallowed
----------------------------------------------------------------
Bankruptcy Judge J. Craig Whitley sustained the objection by David
E. Taylor to the $25,145.00 proof of claim filed by McNaughton &
Associates, PLLC, the former litigation counsel of debtor
Protection Systems Techonologies, Inc.  Taylor, in his capacity as
an unsecured creditor, objects to the McNaughton Claim.

A copy of Judge Whitley's Dec. 24 Order is available at
http://is.gd/Tekt2Jfrom Leagle.com.

Formed in 2003, Protection Systems Technologies, Inc., provided
goods and services to fire suppression companies.  PST was owned
by Bryan Futch ("Futch") (34%), Westley Stout, Jr. ("Stout")
(33%), and David E. Taylor (33%). Futch served as president, Stout
as treasurer, and Taylor as vice president.

PST filed a Chapter 11 case (Bankr. W.D. Case No. 13-31778) on
August 15, 2013.  A consensual plan was negotiated and confirmed
on September 14, 2014.


RADIAN GUARANTY: Moody's Ba2 IFS Rating on Review for Upgrade
-------------------------------------------------------------
Moody's Investors Service has placed on review for upgrade the Ba2
Insurance Financial Strength (IFS) ratings of Radian Guaranty Inc.
and Radian Mortgage Assurance Inc. (RMA) as well as the Ba1 IFS
rating of Radian Asset Assurance Inc. (Radian Asset). In the same
rating action, Moody's also placed on review for upgrade the B3
senior unsecured debt ratings of Radian Group Inc. The rating
action also has implications for the various transactions wrapped
by Radian Asset as discussed later in this press release.

The rating action was prompted by the announcement by Radian
Guaranty, a direct subsidiary of Radian Group (NYSE: RDN), that it
has entered into a Stock Purchase Agreement to sell 100% of the
issued and outstanding shares of Radian Asset, its financial
guaranty insurance subsidiary, to Assured Guaranty Corp. (AGC, A3
IFS, negative), a subsidiary of Assured Guaranty Ltd. (NYSE: AGO,
senior debt at Baa2, stable) for a purchase price of approximately
$810 million. The purchase price is payable in cash consideration
on the closing date, which is expected to occur in the first half
of 2015, subject to satisfaction of customary closing conditions
including regulatory approvals. Assured Guaranty stated that it
intends to merge Radian Asset into AGC immediately following the
acquisition.

Radian expects the transaction to increase Radian Guaranty's
Available Assets, required by the Private Mortgage Insurer
Eligibility Requirements (PMIERs), by $790 million on consummation
of the transaction.

Ratings Rationale -- RADIAN GUARANTY, RADIAN MORTGAGE ASSURANCE
and RADIAN GROUP

The review for upgrade reflects Moody's view that the sale of
Radian Asset increases the amount of capital readily accessible to
Radian Guaranty, and will strengthen its capital adequacy relative
to insured mortgage exposures. In addition, completion of the
transaction will meaningfully reduce the shortfall in Radian
Guaranty's Available Assets relative to the PMIER Required Assets,
an important step towards attaining PMIER compliance and defending
against erosion of its franchise due to actual or perceived
difficulties in becoming compliant. Additionally, Radian Group's
credit profile would strengthen as a result of improvement at its
Radian Guaranty subsidiary.

Radian Guaranty estimates that it will have a shortfall in PMIER
Available Assets of approximately $400 million after taking into
consideration the anticipated $790 million in net proceeds from
the sale of Radian Asset and unencumbered holding company cash of
approximately $770 million that Radian has earmarked for capital
contributions to Radian Guaranty. However, Moody's consider there
to be competing demands on the holding company cash, which will be
required to support repayment of approximately $645 million in
senior and convertible debt due in 2017, unless the company is
able to refinance or otherwise extend the term of that debt. In
addition to waiting for regulatory approval of the transaction,
Moody's review will focus on the extent to which the proceeds from
the sale of Radian Asset improve Radian Guaranty's overall capital
adequacy, and its ability to address the remaining shortfall to
PMIER Required Assets.

Moody's notes that RMA and Radian Guaranty, although separate
legal entities, are evaluated jointly. RMA and Radian Guaranty
entered into a cross guaranty agreement in 1999 that remains in
place. Under the agreement, if RMA fails to make payment to
policyholders, Radian Guaranty will make the payment, and vice
versa. The obligations of both parties are unconditional and
irrevocable, though any payments are subject to regulatory
approval.

Moody's added that the following factors could lead to an upgrade:
(1) regulatory approval and consummation of the sale of Radian
Asset to AGC; (2) additional substantial capital injection into
Radian Guaranty; (3) greater clarity about the Radian's ability to
attain PMIER compliance. A rating confirmation, or downgrade,
could result from: (1) a cancellation of the transaction; (2)
Radian's inability to meet PMIER requirements or; (3) a
deterioration in Radian Group's ability to meet its debt service
requirements over the next few years.

Ratings Rationale -- RADIAN ASSET

According to Moody's, the sale of Radian Asset to AGC would have a
positive impact on its credit profile and IFS rating. Upon
completion of the merger with AGC, Radian Asset's policyholders
will become policyholders of AGC, and their rights will rank pari
passu with existing AGC policyholders.

Moody's notes that regulatory approval and consummation of the
acquisition and merger with AGC will likely lead to an upgrade of
Radian Asset. A cancellation of the planned sale could lead to a
rating confirmation or downgrade of Radian Asset.

List of Rating Actions

The following ratings have been placed on review for upgrade:

Radian Group Inc. -- senior unsecured debt at B3, senior unsecured
shelf at (P)B3, subordinate shelf at (P)Caa1, preferred shelf at
(P)Caa2, preferred non-cumulative shelf at (P)Caa2, senior
subordinate shelf at (P)Caa1;

Radian Guaranty Inc. -- insurance financial strength rating at
Ba2;

Radian Mortgage Assurance Inc. -- insurance financial strength
rating at Ba2;

Radian Asset Assurance Inc. -- insurance financial strength rating
at Ba1.

Radian Group Inc. is a US-based holding company that owns a
mortgage insurance platform comprised of Radian Guaranty, Radian
Insurance and Radian Mortgage Assurance, and financial guaranty
insurance company Radian Asset (Ba1 IFS rating, negative outlook).
The group also has investments in other financial services
entities. As of September 30, 2014, Radian Group had approximately
$6 billion in total assets and $1.7 billion in shareholder's
equity.

The principal methodology used in these ratings was Moody's Global
Methodology for Rating Mortgage Insurers published in December
2012.

Treatment of Wrapped Transactions

Moody's ratings on securities that are guaranteed or "wrapped" by
a financial guarantor are generally maintained at a level equal to
the higher of the following: a) the rating of the guarantor (if
rated at the investment grade level); or b) the published
underlying rating (and for structured securities, the published or
unpublished underlying rating). Moody's approach to rating wrapped
transactions is outlined in Moody's methodology "Rating
Transactions Based on the Credit Substitution Approach: Letter of
Credit-backed, Insured and Guaranteed Debts" (March 2013).

As a result of the rating action, the Moody's-rated securities
that are guaranteed or "wrapped" by Radian Asset are placed under
review for upgrade, except those with A3 and higher published
underlying ratings (and for structured finance securities, except
those with A3 and higher published or unpublished underlying
ratings). The A3 cutoff reflects Moody's opinion that Radian Asset
policyholders would rank pari passu with Assured Guaranty Corp.'s
(IFS at A3) policyholders should the two entities merge post
acquisition.


RADIOSHACK CORP: CEO Says Chain Is 'Overstored'
-----------------------------------------------
Drew Fitzgerald, writing for The Wall Street Journal, reported
that Radioshack Corp.'s chief executive has acknowledged that one
of the struggling electronics retailer's problems is shop
saturation.  According to the Journal, the cost of maintaining and
stocking its 4,400 company-owned outlets has helped push the chain
to the brink of bankruptcy.

The Journal pointed out that for nearly a year, RadioShack has
been trying to win consent from creditors, such as Salus Capital
LLC, to close as many as 1,100 locations as it copes with plunging
sales and deserted stores.

                     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.


RESTAURANT BRANDS: S&P Assigns 'B+' CCR; Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to Restaurant Brands International Inc.  The outlook
is stable.

"The rating action comes as the merger between Tim Hortons Inc.
and Burger King Worldwild Inc. has closed, and Restaurant Brands
International Inc. now owns both restaurant entities.  Earlier
this year, 1011778 B.C. Unlimited Liability Co. (a subsidiary of
Restaurant Brands) issued a term loan and notes to fund the
partial purchase of Tim Hortons' equity.  The remainder was
financed with new equity issued by Restaurant Brands and a $3
billion preferred stock from Berkshire Hathaway Inc.," said credit
analyst Charles Pinson-Rose.  "For the purposes of the rating, we
consider the preferred equity as debt-like and adjust debt for the
preferred amount and adjust interest for the dividend amount.
Accordingly we expect debt to EBITDA to be in the mid- to high-7x
range at close, but we expect the company to reduce leverage
quickly, possibly to the mid- to low-6x area over the next two
years."

S&P's outlook on the parent is stable, which incorporates its
assumptions that both Burger King and Tim Hortons can improve
profits from restaurant growth and moderate increases in same-
store sales, and generate meaningful excess cash flow.  These
factors will lead to moderate credit ratio improvement, although
S&P expects leverage ratios to remain commensurate with a "highly
leveraged" financial risk profile.

Upside scenario

S&P would consider a higher rating if leverage were below 5x with
its calculations (which include the expected $3 billion of
preferred stock and minimum operating lease commitments without
adjusting for lease receipts).  This could occur over several
years if EBITDA (before any lease adjustments) was near $2 billion
(roughly 35% higher than expected pro forma levels) and the
company reduced debt by $2 billion.

Downside scenario

S&P could lower the rating if our assumption of profit growth and
free cash flow leading to considerable deleveraging did not occur.
For example, if credit ratios are simply maintained because of
flat profits, tepid restaurant growth, and negative same-store
sales, S&P could consider a lower rating.


ROBERT MEIER: Bankruptcy Court Decides on Claims by Martha Meier
----------------------------------------------------------------
Judge Jack B. Schmetterer of the U.S. Bankruptcy Court for the
Northern District of Illinois entered a memorandum opinion on
Edward Shrock's objection to the claim filed by Martha Meier.

Mr. Shrock's objection will be sustained as to the $2,333,333
claim, and overruled as to the $400,000 claim.  Martha's claim
will be allowed as to $400,000 in property division, and
disallowed as to the rest of her future claims.

Debtor Robert Meier and Martha Meier (now Maggiore) divorced in
2010.  The judgment of divorce was entered together with a
Marriage Settlement Agreement, which provided, among other
provisions not relevant here, for Robert to pay Martha $4 million
in spousal support to be paid in $33,333 monthly installments over
10 years and $400,000 in property settlement to be paid in 2021.

Robert was current on support payments up until he filed for his
petition for Chapter 11 relief.  Martha timely filed her proof of
claim for $2,733,333, claiming the entire amount as a priority as
a domestic support obligations under Section 507(a)(1)(A) of the
Bankruptcy Code.

Edward Shrock, another creditor of Robert's, objected to Martha's
entire support claim on grounds that domestic support obligations
due and owing in the future are not allowable claims in
bankruptcy.  Subsequently, the proof of claim was amended to
reflect that $2,333,333 is for domestic support obligations, and
$400,000 is for division of property.

Mr. Shrock also argues that the entire claimed amount should be
recharacterized as future domestic support obligations because of
the initial claim which he calls a judicial admission.

The Court ruled that Mr. Shrock's objection will be sustained as
to the $2,333,333 claim, and overruled as to $400,000 division of
property claim.  By separate order, Martha's claim will,
therefore, be allowed as to $400,000 in property division,
disallowed as to the rest.

A full-text copy of the Memorandum Opinion dated November 24,
2014, is available at http://bit.ly/1zlVev8from Leagle.com.

Robert Meier filed a Chapter 11 bankruptcy petition (Bankr. N.D.
Ill. Case No. 14-10105) on March 20, 2014.


RYNARD PROPERTIES: Fannie Mae Seeks to Lift Automatic Stay
----------------------------------------------------------
Fannie Mae asks the Bankruptcy Court for relief from the automatic
stay to pursue all of its lawful rights and remedies against
Rynard Properties Ridgecrest LP.

Fannie Mae is the Debtor's primary lender, owed $4,881,543.  The
indebtedness is secured by a first priority Deed of Trust that
encumbers the Debtor's Ridgecrest Apartments.  Fannie Mae also
holds a security interest in all of Debtor's accounts, accounts
receivable, rents, and real property, all of which constitute cash
collateral.

Fannie Mae agreed to Debtor's use of cash collateral to continue
operating the Ridgecrest Apartments in exchange for perfected
liens on all currently owned or after-acquired property and assets
of Debtor and monthly payments in the amount of $24,617.

Counsel to Fannie Mae, Geoffrey B. Treece, Esq., at Quattlebaum,
Grooms, Tull & Burrow, PLLC, recounts that on Sept. 28, 2014, over
six months after filing the petition, Debtor finally filed a Plan
of Reorganization.  According to the Plan, funding will come from,
inter alia, "new financing to be obtained on or before the
Maturity Date, to be secured by a first position Lien on the
Project. . . ."  The Plan defines Maturity Date as "[t]he first
anniversary date of the Effective Date."

Mr. Treece also points out that prior to filing the Plan, on
Sept. 2, 2014, the Debtor filed a motion seeking authorization to
obtain post-petition financing. However, Debtor did not actually
have a firm offer from a lender to provide post-petition
financing.  To date, the Debtor still has not found a lender to
refinance the indebtedness owed to Fannie Mae and, upon
information and belief, its most recent prospective lenders
declined to provide the refinancing.

The Debtor did obtain an extension of the exclusivity period from
June 30, 2014 to Aug. 29, 2014.  The Debtor did not file a plan
within that timeframe, but no other party in interest filed a
plan, either.  The Debtor has also failed to obtain acceptances of
a plan within the 180-day period, even factoring in a 60 day
extension to that period.

According to Fannie Mae, given that the Ridgecrest Apartments are
real property constituting a single property or project that
generates substantially all of the gross income of the Debtor,
which is not a family farmer, and on which no substantial business
is conducted by the Debtor other than operating the real property
and activities incidental, Fannie Mae's claim is secured by an
interest in single asset real estate.  Mr. Treece notes that the
Debtor failed to come close to filing a plan within the 90-day
period, but the Debtor has been making monthly adequate protection
payments to Fannie Mae.

Mr. Treece complains that the Debtor took an excessive amount of
time to submit its Plan, and the viability of the Plan hinges on
obtaining illusory post-petition financing.  Moreover, the Debtor,
he asserts, does not even have to obtain the financing until one
year after the Effective Date of the Plan.  The Debtor cannot
propose an alternative plan that can be confirmed.  Meanwhile,
Fannie Mae is forced to wait as the Debtor fails to propose, much
less confirm, a feasible plan of reorganization.  The delay is
prejudicial to the interest of Fannie Mae.

In addition to the foregoing, the Debtor, according to Fannie Mae,
misapplied and misused the cash collateral of Fannie Mae during
the course of this proceeding in a manner that violates the
Bankruptcy Code and the U.S. Trustee's Operating Guidelines and is
inconsistent with the fiduciary obligations of Debtor to the
estate and its creditors.  While some or all of this misapplied
cash collateral may have been refunded to the estate after its
discovery by Fannie Mae, the intentionally wrongful conduct of the
Debtor and its principal should disqualify the Debtor from any
further benefits of the automatic stay.

The Debtor's unreasonable delay in filing a confirmable plan and
the misapplication and misuse of Fannie Mae's cash collateral
constitutes "cause" for which the stay should be lifted to allow
Fannie Mae to assert its rights to and against the Ridgecrest
Apartments.

Fannie Mae is represented by:

         Geoffrey B. Treece, Esq.
         QUATTLEBAUM, GROOMS, TULL & BURROW, PLLC
         111 Center Street, Suite 1900
         Little Rock, AR 72201
         Tel: (501) 379-1735
         Fax: (501) 379-3835
         E-mail: gtreece@qgtb.com

               About Rynard Properties Ridgecrest

Rynard Properties Ridgecrest LP is a Tennessee limited
partnership.  Its principal place of business is 2881 Rangeline
Road, Memphis, TN 38127, and the Debtor operates a 256 unit
multifamily apartment complex of Section 8 housing named
Ridgecrest Apartments and currently has TESCO operating the
complex as leasing agent.

The Debtor filed a Chapter 11 bankruptcy petition (Bankr. W.D.
Tenn. Case No. 14-22674) on March 13, 2014.  John Bartle signed
the petition as secretary/treasurer of Ridgecrest LLC, general
partner of the Debtor.  In its schedules, the Debtor disclosed
$16,231,959 in total assets and $8,734,000 in total liabilities.
Toni Campbell Parker serves as the Debtor's counsel.  Judge Jennie
D. Latta oversees the case.

The U.S. Trustee for Region 8 has notified the Bankruptcy Court
that it was unable to appoint an official committee of unsecured
creditors.


SABINE OIL: Sabine Investor Has 50% Stake as of Dec. 16
-------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, First Reserve GP XI, Inc., Sabine Investor Holdings
LLC, et al., disclosed that as of Dec. 16, 2014, they beneficially
owned 118,862,874+ shares of common stock of Sabine Oil & Gas
Corporation representing 50 percent of the shares outstanding.

Pursuant to a merger agreement, Sabine Investor Holdings
contributed its membership interest in Sabine Oil & Gas Holdings
LLC, a wholly owned subsidiary of Sabine Investor Holdings, to
Sabine Oil & Gas Corporation (Issuer) in exchange for 59,941,540
shares of Common Stock and 1,897,860 shares of Series A Preferred
Stock of the Issuer (convertible into up to 189,786,000 shares of
Common Stock).  Also on Dec. 16, 2014, AIV LLC contributed the
stock of FR NFR Holdings, Inc., and FR NFR PI, Inc., each a
Delaware corporation and wholly owned subsidiary of AIV LLC, to
the Issuer in exchange for 19,300,376 shares of Common Stock and
611,085 shares of Series A Preferred Stock (convertible into up to
61,108,500 shares of Common Stock).

On Dec. 16, 2014, AIV LLC contributed 19,300,376 shares of Common
Stock and 611,085 shares of Series A Preferred Stock to Sabine
Investor Holdings in exchange for membership interests in Sabine
Investor Holdings.  As a result of the foregoing, as of Dec. 16,
2014, Sabine Investor Holdings is the record owner of 79,241,916
shares of Common Stock and 2,508,945 shares of Series A Preferred
Stock.

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

                        http://is.gd/WSqpXZ

                           About Sabine

Sabine Oil & Gas LLC, (formerly Forest Oil Corporation) is an
independent energy company engaged in the acquisition, production,
exploration and development of onshore oil and natural gas
properties in the United States.  Sabine's current operations are
principally located in Cotton Valley Sand and Haynesville Shale in
East Texas, the Eagle Ford Shale in South Texas, and the Granite
Wash in the Texas Panhandle.  For more information about Sabine,
please visit its website at www.sabineoil.com.

Ernst & Young LLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements of Forest
Oil for the year ended Dec. 31, 2013.  The independent accounting
firm noted that the Company has determined that it expects to fail
a financial covenant in its Credit Facility sometime prior to the
end of 2014, which could result in the acceleration of all
borrowings thereunder and the Company's senior unsecured notes due
2019 and 2020.  This raises substantial doubt about the Company's
ability to continue as a going concern.

The Company's balance sheet at Sept. 30, 2014, the Company had
$927.48 million in total assets, $1.07 billion in total
liabilities and a $148.03 million total shareholders' deficit.

                            *    *    *

As reported by the TCR on Aug. 25, 2014, Standard & Poor's Ratings
Services said that its 'B-' corporate credit rating and its other
ratings on Denver-based Forest Oil Corp. remain on CreditWatch
with positive implications, pending the close of a merger
transaction with Sabine Oil & Gas LLC.


SAMSON RESOURCES: S&P Lowers Corporate Credit Rating to 'B-'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Tulsa, Okla.-based Samson Resources Corp. to 'B-' from
'B'.

At the same time, S&P is lowering its rating on Samson's revolving
credit facility to 'B+' (two notches above the corporate credit
rating) from 'BB-'.  The recovery rating on this debt remains '1',
indicating S&P's expectation of very high (90% to 100%) recovery
in the event of a payment default.  S&P also lowered its rating on
Samson's second-lien debt to 'B-' (the same as the corporate
credit rating) from 'B'.  The recovery rating on this debt remains
'4', indicating S&P's expectation of average (30% to 50%) recovery
in the event of a payment default.  S&P also lowered its rating on
Samson Investment Co.'s unsecured notes to 'CCC' (two notches
below the corporate credit rating) from 'CCC+'.  The recovery
rating on this debt remains '6', indicating S&P's expectation of
negligible (0% to 10%) recovery in the event of a payment default.

Samson Investment Co. is a subsidiary of Samson Resources and a
borrower of these debt instruments.

"The downgrade on Samson reflects our view of the company's very
high leverage measures and 'less than adequate' liquidity position
in a much weaker commodity price environment," said Standard &
Poor's credit analyst Stephen Scovotti.  "While the company is
looking to sell assets, we believe it could face difficulty in
realizing a sizeable amount of proceeds to address liquidity and
leverage issues," said Mr. Scovotti.

The ratings on Samson also reflect the company's significant
exposure to natural gas prices, weak profitability measures, and
private equity ownership.  The ratings also reflect the company's
relative size and scale, and large resource acreage positions.
Standard & Poor's considers Samson's business risk "weak," and its
financial risk "highly leveraged."

Samson's weak business risk profile reflects its high exposure to
natural gas prices, which has unfavorable economics relative to
oil even at current prices.

S&P views Samson's financial profile as highly leveraged,
reflecting the company's very high debt leverage measures.  S&P
assess Samson's liquidity to be "less than adequate."

The negative CreditWatch placement reflects that S&P could
consider lowering the ratings if the company is unable to enter
into agreements to sell significant assets to improve liquidity in
early 2015.

S&P intends to resolve the CreditWatch listing in early 2015.


SAN GOLD: Seeks Protection From Creditors
-----------------------------------------
Alistair MacDonald, writing for Daily Bankruptcy Review, reported
that gold-miner San Gold Corp. has asked Canadian courts for
protection against its creditors, another miner running into
trouble as the price of the yellow metal falls and the sector's
empire building in the commodity boom years comes back to haunt
it.

According to the report, capitalized at over a billion Canadian
dollars at its height in 2010, San Gold has struggled after an
aggressive expansion meant that it couldn't mine its metal
profitably.


SCHAEFER SALT: Khoudary Suspended From Law Practice in New York
---------------------------------------------------------------
The Appellate Division of the Supreme Court of New York, First
Department, suspended Nicholas Khoudary, Esq., from the practice
of law in the state of New York for a period of two years, nunc
pro tunc to July 5, 2013, and until further order of the Court.

The proceeding is captioned In the Matter of Nicholas Khoudary, an
Attorney and Counselor-at-Law: Departmental Disciplinary Committee
for the First Judicial Department, Petitioner, Nicholas Khoudary,
Respondent, M-3000.

The Respondent was admitted to the practice of law in the state of
New York by the First Judicial Department on January 23, 1989.

In May 2001, the New Jersey Supreme Court suspended respondent for
two years, retroactive to August 6, 1999 (the date of his interim
suspension), following his August 2, 1999 criminal conviction in
the United States District Court for the District of New Jersey
for structuring a monetary transaction to avoid currency
transaction reporting requirements.  In November 1999, the
Respondent was sentenced to five years probation and ordered to
pay restitution in the amount of $296,222.  In September 2001, he
was reinstated to the practice of law in New Jersey.

In March 2002, the Court deemed the Respondent's federal
conviction a "serious crime," suspended him from the practice of
law, and directed him to show cause why a final order of censure,
suspension or disbarment should not be made (291 A.D.2d 152 [1st
Dept 2002]).  On February 6, 2003, the Court confirmed a Hearing
Panel determination and continued respondent's suspension from the
practice of law for a period co-extensive with his federal
probationary period, which was scheduled to terminate Nov. 28,
2004, and until further order of the Court (303 A.D.2d 124 [1st
Dept 2003]).  To date, the Respondent has not applied for
reinstatement to the practice of law in New York and, accordingly,
his suspension from practice in this state remains in effect.

Presently before the Court is a reciprocal discipline petition of
the Departmental Disciplinary Committee, dated June 4, 2014,
seeking an order suspending the Respondent from the practice of
law for two years, retroactive to July 5, 2013, predicated upon
the two-year suspension imposed on respondent by the Supreme Court
of New Jersey with effect from that date.  The order forming the
basis for the Committee's reciprocal discipline petition was
issued by the New Jersey Supreme Court on June 6, 2013.  That
order suspended the Respondent from the practice of law in New
Jersey for a period of two years, and until further order of the
court, with effect from July 5, 2013, based on findings of the New
Jersey Disciplinary Review Board, after evidentiary proceedings
before a Special Master, that respondent had violated New Jersey
Rules of Professional Conduct 3.1 (filing a frivolous claim),
8.4(c) (conduct involving dishonesty, fraud, deceit or
misrepresentation), and 8.4(d) (conduct prejudicial to the
administration of justice) (In re Khoudary, 213 N.J. 593, 66 A.3d
1264 [2013]).

Underlying the charges for which the 2013 suspension was imposed
was respondent's filing, in the United States Bankruptcy Court for
the District of New Jersey, of two successive bankruptcy petitions
(the first under Chapter 11, the second under Chapter 7) on behalf
of Schaefer Salt Recovery, Inc. (SSR).  At the time, respondent's
then-wife owned SSR and respondent was the entity's vice
president, secretary and counsel.  Both petitions were dismissed
as frivolous by the Bankruptcy Court, which found that respondent
had filed them in bad faith to obstruct a pending tax foreclosure
proceeding in state court.

The Bankruptcy Court ultimately imposed a sanction of $11,628 on
the Respondent personally based on the filing of the second
petition, which he had effected after the court had warned him,
upon the dismissal of the first petition, not to repeat such
misuse of the bankruptcy code (In re Schaefer Salt Recovery, Inc.,
444 B.R. 286, 295-298 [Bankr D NJ 2011]).

A full-text copy of the Opinion dated December 2, 2014, is
available at http://bit.ly/1wq2yDZfrom Leagle.com.

Nicholas Khoudary was admitted to the practice of law in the state
of New York by the First Judicial Department on January 23, 1989.
He is also admitted to the practice of law in New Jersey, where he
maintains his place of business.


SEQUENOM INC: Okays $2 Million Employee Cash Bonuses
----------------------------------------------------
The Compensation Committee of the Board of Directors of Sequenom,
Inc., approved one-time cash bonuses to all eligible employees of
the Company in an aggregate amount equal to $2.07 million.  The
Cash Bonuses are in recognition of the eligible employees'
significant efforts with regards to the Company's recently-
announced execution of a series of agreements with Illumina, Inc.,
including an agreement pursuant to which the parties have pooled
their intellectual property directed to noninvasive prenatal
testing and Illumina has agreed to pay an aggregate $50 million
upfront payment to the Company in addition to royalties for sales
of in-vitro diagnostic kits for NIPT and a share of per-test fees
paid into the pool by both parties and their sublicensees for
laboratory-developed NIPT tests.  Illumina has agreed to minimum
yearly payments to the Company under the pool through 2020
covering both IVD royalties and the Company's share of the
collected test fees.  The Company and Illumina also entered into
(i) a Settlement Agreement pursuant to which the parties settled
certain longstanding claims and released the other party from
certain liabilities and (ii) an expanded supply agreement,
pursuant to which the Company 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.  These
pivotal agreements will enable the Company to continue to expand
its NIPT laboratory tests offerings while also allowing it to
participate more broadly in the growing global NIPT marketplace.

The Cash Bonuses to be paid to the Company's chief executive
officer, chief financial officer and other named executive
officers are:

         Name                              Cash Bonus
      ------------                         ----------
      William J. Welch,                     $150,000
      Chief Executive Officer

      Carolyn D. Beaver,                    $115,000
      Chief Financial Officer

      Dirk van den Boom,                    $150,000
      Chief Scientific & Strategy Officer

                           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.


SOUND SHORE: Plan of Liquidation Declared Effective
---------------------------------------------------
Sound Shore Medical Center of WestChester, et al., notified the
Bankruptcy Court that the Effective Date of their First Amended
Plan of Liquidation occurred on Nov. 26, 2014.

The Debtor also noted that the bar date for administrative claim
is on Jan. 12, 2015, at 4:00 p.m.  Proofs of claim must be
submitted:

     If by mail to:

         Sound Shore Medical Center of Westchester
         c/o GCG, Inc.
         P.O. Box 9982
         Dublin, OH 43017-5982

     If by hand delivery or overnight courier to:

         Sound Shore Medical Center of Westchester
         c/o GCG, Inc.
         5151 Blazer Parkway, Suite A
         Dublin, OH 43017

     or, if by hand delivery to:

         U.S. Bankruptcy Court, SDNY
         300 Quarropas Street, Room 248
         White Plains, NY 10601
         Attn: Clerk of the Court

As reported in the Troubled Company Reporter on Nov. 21, 2014,
the Debtors confirmed their First Amended Plan dated Sept. 17,
2014.  Monica Terrano was appointed as the Plan Administrator.

The Debtors, in a memorandum of law in support of the confirmation
of the First Amended Plan, stated that the Plan is a culmination
of extensive, arms-length negotiations between the Debtors and
their key constituencies to reach a fair and equitable resolution
of the many complex business and legal issue presented by the
cases.  The Plan was a collaborative effort between the Debtor and
the Official Committee of Unsecured Creditors with significant
input from other relevant constituents.  A copy of the memorandum
is available for free at:

      http://bankrupt.com/misc/SOUNDSHORE_894_plan_memo.pdf

The Plan provides a means by which the proceeds of the liquidation
of the Debtor's assets will be distributed.  Holders of Allowed
Unsecured Claims, including Allowed Medical Malpractice/Personal
Injury Claims, will receive pro rata distributions of cash from
the net proceeds.  To recall, the closing of the sale of the
Debtors' assets was concluded in November of 2013.  Montefiore
Medical Center and certain of its affiliates agreed to buy the
Debtors' assets in the amount of $54 million, plus the appraised
value of furniture, equipment and inventory acquired by the buyer.

The majority of the liens were satisfied through the sale proceeds
at the closing of the sale.  Specifically, the Debtors paid
approximately $42.2 million to satisfy their secured claims.

A copy of the First Amended Disclosure Statement is available for
free at: http://bankrupt.com/misc/SOUNDSHORE_820_1ds.pdf

                About Sound Shore Medical Center

Sound Shore Medical Center of Westchester, Mount Vernon Hospital
Inc., Howe Avenue Nursing Home and related entities sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 13-22840) on
May 29, 2013, in White Plains, New York.

The Debtors were the largest "safety net" providers for Southern
Westchester County in New York.  Affiliated with New York Medical
College, Sound Shore is a not-for-profit 242-bed, community based-
teaching hospital located in New Rochelle, New York.  Mountain
Vernon Hospital is a voluntary, not-for-profit 176-bed hospital
located in Mount Vernon, New York.  Howe Avenue Nursing Home is a
150-bed, comprehensive facility.

The Debtors tapped Burton S. Weston, Esq., at Garfunkel Wild, P.C.
as counsel; Alvarez & Marsal Healthcare Industry Group, LLC, as
financial advisors; and GCG Inc., as claims agent.

Alston & Bird LLP represents the Official Committee of Unsecured
Creditors.  Deloitte Financial Advisory Services LLP serves as the
Committee's as financial advisor.

Sound Shore disclosed assets of $159.6 million and liabilities
totaling $200 million.  Liabilities include a $16.2 million
revolving credit and a $5.8 million term loan with Midcap
Financial LLC.  There is $9 million in mortgages with Sun Life
Assurance Co. of Canada (US) and $11.5 million owing to the New
York State Dormitory Authority.

Neubert, Pepe & Monteith, P.C., represents Daniel T. McMurray, the
patient care ombudsman for Sound Shore.

The Debtors filed for bankruptcy to sell their assets, including
their hospital and nursing home operations, to the Montefiore
health system.  On Aug. 8, 2013, the Bankruptcy Court entered an
order, as affirmed and ratified by a Supplemental Sale Order
entered on Oct. 15, 2013, approving the sale to Montefiore New
Rochelle Hospital, Inc., Schaffer Extended Care Center, Inc.,
Montefiore Mount Vernon Hospital, Inc. and certain related
affiliates.

In June 2013, Montefiore added $4.75 million to its purchase offer
to speed up the sale.  Montefiore raised its bid to $58.75 million
plus furniture and equipment as part of a request for a private
sale of the hospitals.

On Nov. 6, 2013 at 12:01 a.m., the closing of the sale occurred
and the sale became effective.

Montefiore is represented by Togut, Segal & Segal LLP.


SOURCE HOME: Committee's Challenge Period Extended Until Dec. 29
----------------------------------------------------------------
The Bankruptcy Court approved a fifth stipulation regarding a
further extension of certain deadline established pursuant to the
final order (a) authorizing Source Home Entertainment, LLC, et
al.'s postpetition use of cash collateral; and (b) granting
adequate protection to the secured parties.

The stipulation was entered among the Debtors, the Official
Committee of Unsecured Creditors and Cortland Capital Market
Services LLC, as administrative agent and collateral agent for the
term loan lenders.

The parties agreed that additional time in needed to explore
reaching a settlement of various potential disputes.

In this relation, the fifth stipulation further extended the
challenge period deadline by 21 calendar days, such that the
deadline of Dec. 8, 2014, is extended to Dec. 29.

                     The Cash Collateral Order

As reported in the TCR on July 29, 2014, the Hon. Kevin Gross
entered on July 22, 2014, a final order authorizing the Debtors to
use cash collateral until 120 calendar days after the closing
date.

The Debtors sought authorization from the Court to use the cash
collateral of their term loan lenders.  The Debtors need cash
collateral to (a) continue their orderly wind down process and pay
their employees in connection therewith, and to (b) procure goods
and services from vendors, pay their employees, and satisfy other
working capital needs in the ordinary course of their remaining
manufacturing business.

The Debtors owe $51.9 million under their term loan facility with
Cortland Capital Market Services, LLC, as administrative and
collateral agent.  Obligations arising under the term loan
facility are secured by substantially all of the Debtors' assets.

As adequate protection for any postpetition diminution in value of
each agent's interests, each agent, for the benefit of itself and
the term loan lenders, the revolving lenders, or any other secured
parties, is granted: (i) additional and replacement valid,
binding, enforceable, non-avoidable, and automatically perfected
postpetition security interests in and liens on any and all
presently owned and hereafter acquired personal property, real
property, and all other assets of the Debtors; (ii) an allowed
administrative expense claim in the cases ahead of and senior to
any and all other administrative claims in the cases to the extent
of any postpetition first lien diminution in value; and (iii) an
allowed administrative expense claim in the cases ahead of any and
all other administrative claims in the cases to the extent of any
postpetition second lien diminution in value.

As further adequate protection, (a) the Debtors will pay to each
agent, for the benefit of itself and the term loan lenders or the
revolving lenders, reasonable attorney's fees and expenses,
whether incurred before or after the Petition Date, of the term
loan agent and the term loan lenders or the revolving credit
facility agent, to the extent provided under the term loan credit
documents or the revolving credit documents, as applicable and (b)
the revolving credit facility agent will be authorized to apply
cash collateral on deposit to any interest, fees, costs and
expenses, due and owing by the Debtors to the revolving credit
facility agent and revolving lenders to the extent provided by and
in accordance with the revolving credit documents, without further
court order.

                 About Source Home Entertainment
                       and Source Interlink

Headquartered in Bonita Springs, Florida, Source Home
Entertainment, LLC, manufactures front-end retail checkout
displays and is a leading distributor of books, periodicals, and
other printed material.  Its distribution network spans over
32,500 retail locations in the U.S. and abroad.

In the twelve months ended April 30, 2014, Source Home generated
revenues totaling approximately $600 million on a consolidated
basis.  As of March 31, 2014, Source Home had assets (not
including goodwill or intangibles) of $205 million and liabilities
of approximately $290 million.  Source Interlink Distribution, LLC
disclosed $82,729,238 in assets and $104,521,951 in liabilities.

Source Home, Source Interlink Manufacturing, LLC, and other
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-11553) on June 23, 2014, to sell their front-end retail
display fixtures business to lenders, absent higher and better
offers.  The Debtors are winding down their books distribution
business.

The Debtors have tapped Kirkland & Ellis LLP as general bankruptcy
and corporate counsel; Young Conaway Stargatt & Taylor, LLP, as
co-counsel, FTI Consulting, Inc., as crisis and turnaround
advisor; and Kurtzman Carson Consultants, LLC, as claims agent.
Stephen Dube has been designated by the Debtors to act as chief
restructuring officer and Joshua Korsower to act as chief
financial officer.

The United States Trustee for Region 3 appointed seven creditors
to serve on the Official Committee of Unsecured Creditors.  The
Committee is represented by Lowenstein Sandler LLP, and Duane
Morris LLP.  The Committee tapped PricewaterhouseCoopers LLP as
its financial advisor.


SOURCE HOME: Cash Collateral Use Milestones Extended
----------------------------------------------------
The Bankruptcy Court approved a stipulation order approving
stipulation further extending certain milestones established
pursuant to the final order authorizing Source Home Entertainment,
LLC, et al.'s postpetition use of cash collateral.

The stipulation provides that the milestones may be further
extended without further notice to or order of the Court by the
mutual written consent of the Debtors, the Official Committee of
Unsecured Creditors and Cortland Capital Market Services LLC, as
administrative agent and collateral agent for the term loan
lenders.

A copy of the terms of the stipulation is available for free at

  http://bankrupt.com/misc/SourceHomeEntertainment_159_SAL.pdf

                 About Source Home Entertainment
                       and Source Interlink

Headquartered in Bonita Springs, Florida, Source Home
Entertainment, LLC, manufactures front-end retail checkout
displays and is a leading distributor of books, periodicals, and
other printed material.  Its distribution network spans over
32,500 retail locations in the U.S. and abroad.

In the twelve months ended April 30, 2014, Source Home generated
revenues totaling approximately $600 million on a consolidated
basis.  As of March 31, 2014, Source Home had assets (not
including goodwill or intangibles) of $205 million and liabilities
of approximately $290 million.  Source Interlink Distribution, LLC
disclosed $82,729,238 in assets and $104,521,951 in liabilities.

Source Home, Source Interlink Manufacturing, LLC, and other
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-11553) on June 23, 2014, to sell their front-end retail
display fixtures business to lenders, absent higher and better
offers.  The Debtors are winding down their books distribution
business.

The Debtors have tapped Kirkland & Ellis LLP as general bankruptcy
and corporate counsel; Young Conaway Stargatt & Taylor, LLP, as
co-counsel, FTI Consulting, Inc., as crisis and turnaround
advisor; and Kurtzman Carson Consultants, LLC, as claims agent.
Stephen Dube has been designated by the Debtors to act as chief
restructuring officer and Joshua Korsower to act as chief
financial officer.

The United States Trustee for Region 3 appointed seven creditors
to serve on the Official Committee of Unsecured Creditors.  The
Committee is represented by Lowenstein Sandler LLP, and Duane
Morris LLP.  The Committee tapped PricewaterhouseCoopers LLP as
its financial advisor.


SOURCE INTERLINK: Family Fare Withdraws Objections to Plan
----------------------------------------------------------
Family Fare, LLC and Nash-Finch Company had withdrawn their
limited objection to the approval of the Disclosure Statement
explaining Source Home Entertainment, LLC, et al.'s joint plan of
liquidation.

As reported in the Troubled Company Reporter on Oct. 14, 2014, the
Debtors filed with the a joint plan proposing to give less than 1%
to holders of general unsecured claims.  Under the Plan, holders
of Other Priority Claims, Other Secured Claims, and Revolving
Credit Claims will recover 100% of their allowed claim amount.

A key component of the Plan is the Sale Transaction.  Prior to the
Petition Date, the Debtors engaged in arm's-length negotiations
with the Term Loan Lenders regarding a potential sale of
substantially all of the assets of the Retail Display Business.
These negotiations culminated with the execution of the asset
purchase agreement, dated June 22, 2014, by and among the Debtors
and Cortland Capital Market Services LLC.  An auction for the
Debtors' assets was not pushed through because no qualified bid,
aside from Cortland's, was received by the Sept. 12, 2014,
deadline despite the Debtors' best efforts.  Accordingly, the sale
transaction contemplated by the Cortland Purchase Agreement was
the successful bid.

Pursuant to the Purchase Agreement, the Purchaser will credit bid
$24 million of its secured claims under the Term Loan Facility in
exchange for substantially all of the assets comprising the Retail
Display Business and $4 million in cash and cash equivalents,
subject to certain adjustments.  The Purchaser will also assume
certain material liabilities in connection with the Retail Display
Business, including certain cure obligations and employee- and
payroll-related liabilities.  The Debtors said they are working
with the Purchaser to consummate the Sale Transaction on or before
Oct. 21, 2014.

A full-text copy of the Disclosure Statement dated Oct. 6, 2014,
is available at http://bankrupt.com/misc/SOURCEHOMEds1006.pdf

                 About Source Home Entertainment
                       and Source Interlink

Headquartered in Bonita Springs, Florida, Source Home
Entertainment, LLC, manufactures front-end retail checkout
displays and is a leading distributor of books, periodicals, and
other printed material.  Its distribution network spans over
32,500 retail locations in the U.S. and abroad.

In the twelve months ended April 30, 2014, Source Home generated
revenues totaling approximately $600 million on a consolidated
basis.  As of March 31, 2014, Source Home had assets (not
including goodwill or intangibles) of $205 million and liabilities
of approximately $290 million.  Source Interlink Distribution, LLC
disclosed $82,729,238 in assets and $104,521,951 in liabilities.

Source Home, Source Interlink Manufacturing, LLC, and other
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-11553) on June 23, 2014, to sell their front-end retail
display fixtures business to lenders, absent higher and better
offers.  The Debtors are winding down their books distribution
business.

The Debtors have tapped Kirkland & Ellis LLP as general bankruptcy
and corporate counsel; Young Conaway Stargatt & Taylor, LLP, as
co-counsel, FTI Consulting, Inc., as crisis and turnaround
advisor; and Kurtzman Carson Consultants, LLC, as claims agent.
Stephen Dube has been designated by the Debtors to act as chief
restructuring officer and Joshua Korsower to act as chief
financial officer.

The United States Trustee for Region 3 appointed seven creditors
to serve on the Official Committee of Unsecured Creditors.  The
Committee is represented by Lowenstein Sandler LLP, and Duane
Morris LLP.  The Committee tapped PricewaterhouseCoopers LLP as
its financial advisor.


SPANISH BROADCASTING: Gets Noncompliance Notice From NASDAQ
-----------------------------------------------------------
Spanish Broadcasting System, Inc., received a written notice from
The Nasdaq Stock Market on Dec. 19, 2014, advising the Company
that the market value of its Class A common stock for the previous
30 consecutive business days had been below the minimum
$15,000,000 required for continued listing on the NASDAQ Global
Market pursuant to NASDAQ Listing Rule 5450(b)(3)(C), according to
a regulatory filing with the U.S. Securities and Exchange
Commission.

Pursuant to NASDAQ Listing Rule 5810(c)(3)(D), the Company has
been provided an initial grace period of 180 calendar days, or
until June 17, 2015, to regain compliance with the Rule.  The
Notice further provides that NASDAQ will provide written
confirmation stating that the Company has achieved compliance with
the Rule if at any time before June 17, 2015, the market value of
the Company's publicly held shares closes at $15,000,000 or more
for a minimum of 10 consecutive business days.  If the Company
does not regain compliance with the Rule by June 17, 2015, NASDAQ
will provide written notification to the Company that the
Company's common stock is subject to delisting from the Nasdaq
Global Market, at which time the Company will have an opportunity
to appeal the determination to a NASDAQ Hearings Panel.

The Company said it intends to use all reasonable efforts to
maintain the listing of its common stock on the NASDAQ Global
Market, but added that there can be no guarantee that it will
regain compliance with the Market Value of Publicly Held Shares
Requirement.

                    About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
System, Inc. -- http://www.spanishbroadcasting.com/-- owns and
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

Spanish Broadcasting reported a net loss of $88.56 million in
2013, as compared with a net loss of $1.28 million in 2012.

As of Sept. 30, 2014, the Company had $461.39 million in total
assets, $529.68 million in total liabilities and a $68.28 million
total stockholders' deficit.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

As reported by the TCR on May 22, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on U.S. Spanish-
language broadcaster Spanish Broadcasting System Inc. (SBS) to
'CCC+' from 'B-'.  "The downgrade reflects our view that the
company's current capital structure is unsustainable, given its
inability to redeem its preferred stock, which was put to the
company in October of 2013," said Standard & Poor's credit analyst
Chris Valentine.


SPECIALTY HOSPITAL: Sale Closing Cues US Trustee to Withdraw Plea
-----------------------------------------------------------------
Judy A. Robbins, U.S. Trustee for Region 4, asks the Hon. S.
Martin Teel, Jr., of the U.S. Bankruptcy Court for the District of
Columbia for permission to withdraw the request that she --
together with Specialty Hospital of Washington LLC and its debtor-
affiliates -- filed, seeking appointment of a Chapter 11 trustee
or, in the alternative, dismissing the Debtors' Chapter 11 cases.

According to the U.S. Trustee, a notice of closing of the sale
of substantially all of the Debtors' assets was filed with the
Court on Dec. 18, 2014.  The notice resolves the concerns that
prompted the U.S. Trustee to file her motion.

The U.S. Trustee noted that on June 30, 2014, the Court entered an
order authorizing the sale of substantially all of the Debtors'
assets, authorizing the assumption of certain executory contracts
and unexpired leases, and granting related relief.  The closing
date for this sale was extended at the purchaser's option to Nov.
30, 2014.  The Debtors and their prospective purchaser anticipate
extending this date to Dec. 19, 2014.

The U.S. Trustee added that the purchaser and the Debtors continue
to negotiate with various governmental parties to gain the
necessary approvals.  The parties have yet to reach an agreement
and obtaining the government approvals prior to the closing date
is a condition to the buyer's obligation to close on the purchase.


SPECTRASCIENCE INC: Needs Funding to Continue as Going Concern
--------------------------------------------------------------
SpectraScience, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $958,488 on $nil of total revenue for the
three months ended Sept. 30, 2014, compared with net income of
$177,366 on $60,000 of total revenue for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $2.07
million in total assets, $6.51 million in total liabilities, and a
stockholders' deficit of $4.44 million.

The Company's sources of cash have come from the issuance and
sales of equity securities and convertible debentures.  The
Company's historical cash outflows have been primarily used for
operating activities including research, development,
administrative and sales activities.  Fluctuations in the
Company's working capital due to timing differences of its cash
receipts and cash disbursements also impact its cash flow.  The
Company expects to incur significant additional operating losses
through at least the end of 2014, as it completes proof-of-concept
trials, conducts outcome-based clinical studies and increases
sales and marketing efforts to commercialize the WavSTAT4 Systems
in Europe.  If the Company does not receive sufficient funding,
there is substantial doubt that the Company will 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/RSagXY

                       About SpectraScience

SpectraScience, Inc. (OTC QB: SCIE) is a San Diego based medical
device company that designs, develops, manufactures and markets
spectrophotometry systems capable of determining whether tissue is
normal, pre-cancerous or cancerous without physically removing
tissue from the body.  The WavSTAT(TM) Optical Biopsy System uses
light to optically scan tissue and provide the physician with an
immediate analysis.

On Nov. 6, 2007, the Company acquired the assets of Luma Imaging
Corporation in an equity transaction accounted for as an
acquisition of assets and now operates LUMA as a wholly-owned
subsidiary of the Company.

As reported in the TCR on April 25, 2013, McGladrey LLP, in Des
Moines, Iowa, in its report on the Company's financial statements
for the year ended Dec. 31, 2012, said the Company has suffered
recurring losses from operations and its ability to continue as a
going concern is dependent on the Company's ability to attract
investors and generate cash through issuance of equity instruments
and convertible debt.  "This raises substantial doubt about the
Company's ability to continue as a going concern."

On Feb. 3, 2014, SpectraScience dismissed McGladrey as the
Company's independent registered accounting firm effective
immediately, and engaged HJ Associates & Consultants, LLP, as
replacement accounting firm.


STAMP FARMS: Co-Owner Pleads Guilty to Bankruptcy Fraud
-------------------------------------------------------
Stamp Farms, L.L.C. Co-owner Melissa Stamp pleaded guilty on Dec.
23, 2014, to hiding funds from the Bankruptcy Court.

Aaron Mueller at Mlive.com reports that Ms. Stamp was indicted in
October 2014 on one count of bankruptcy fraud with federal
prosecutors alleging she had aided and abetted in the concealment
of property and assets.

According to Mlive.com, Ms. Stamp allegedly hid from the
Bankruptcy Court that: (a) in October 2012, she asked her brother
Steven Moser to hold a $75,000 official bank check; (b) she gave
in October 2012 two official checks, totaling more than $90,000,
to her father Matthew Moser; (c) she and her husband Michael held
$50,000 cash in a safe in their Decatur home in November 2012; and
between December 2012 and January 2013 the Stamps allegedly
received $30,000 worth of promotional assets from a corporate
client.

Citing the plea agreement, Mlive.com relates that Ms. Stamp could
face a maximum sentence of five years in prison and a fine of
$250,000.  According to the report, Ms. Stamp agreed to cooperate
with the Internal Revenue Service and U.S. Attorney's Office in
the investigation and in recovering money and assets involved in
the crime.

Mlive.com adds that most of the farm's assets were sold to a
Zeeland farmer at a bulk sale through the Bankruptcy Court in
November 2014, while other acreage and equipment was sold in
auctions.

                         About Stamp Farms

Stamp Farms, L.L.C., and three affiliates sought Chapter 11
protection (Bankr. W.D. Mich. Lead Case No. 12-10410) on Nov. 30,
2012, in Grand Rapids, Michigan.  Stamp Farms began in 1968 with
its purchase of 168 acres of farmland in Decatur, Michigan.  The
family was also heavily involved in the swine industry, operating
a 500 sow swine operation until 1995.  In 1997, Mike Stamp took
over operations of Stamp Farms' 1500 acres and has grown the farm
operation to cover 20,000+ acres across six southwestern Michigan
counties.

Stamp Farms sells its grain to Northstar Grain, L.L.C., solely
owned by Mike Stamp, which conducts a grain elevator business on
land it owns and leases and upon which buildings, grain storage
bins, grain loading and related equipment and rail spurs are
located.

Stamp Farms estimated at least $10 million in assets and at least
$50 million in liabilities in its bare-bones petition.

Mr. Stamp also filed a Chapter 11 petition (Case No. 12-10430).

Judge Scott W. Dales oversees the case.  The Debtors are
represented by Michael S. McElwee, Esq., and Robert D. Mollhagen,
Esq., at Varnum LLP.  O'Keefe & Associates Consulting, L.L.C.
serves as financial restructuring advisors.

The Official Committee of Unsecured Creditors tapped Steve
Jakubowski, Esq., at Robbins, Salomon & Patt, Ltd., as its
counsel, and Emerald Agriculture, LLC, as its financial
consultant.

As reported by the Troubled Company Reporter on June 5, 2013,
Bloomberg News bankruptcy columnist Bill Rochelle reported that
Stamp Farms's Chapter 11 bankruptcy protection was converted to
one under Chapter 7.


STARR PASS: U.S. Bank Can Proceed With Suit in State Court
----------------------------------------------------------
The Hon. Paul Sala of the U.S. Bankruptcy Court for the District
of Arizona granted U.S. Bank relief from the automatic stay under
11 U.S.C. Sec. 362(d)(1) for cause, allowing U.S. Bank to proceed
in state court, in all respects, with litigation of certain
removed counts in Adversary Proceeding No. 14-00667, involving
debtor Starr Pass Residential, LLC.

Judge Sala ruled on the Motion To Abstain And/Or Remand And
Dismiss filed by U.S. Bank, N.A., as Trustee, related to Adversary
Proceeding Case No. 14-00667.  The Court said the Motion is denied
as to the request for mandatory abstention under 28 U.S.C. Sec.
1334(c)(2) and/or permissive abstention under 28 U.S.C. Sec.
1334(c)(1) with respect to the Removed Counts, as defined in U.S.
Bank's Motion.  The Motion is granted as to the request for
equitable remand under 28 U.S.C. Sec. 1452(b) as to the Removed
Counts, and the Removed Counts are remanded from the Bankruptcy
Court to the state court.

The Adversary Proceeding is dismissed and the clerk is directed to
enter the dismissal on the docket and close the case.

                   About Starr Pass Residential

Starr Pass Residential LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Ariz. Case No. 14-09117) on June 12, 2014.  Christopher
Ansley signed the petition as authorized officer.  Gust Rosenfeld,
P.L.C., serves as the Debtor's counsel.  The Debtor disclosed
total assets of $7.40 million and liabilities of $146 million.

The bankruptcy case was reassigned to Judge Eileen W. Hollowell
because Judge Brenda Moody Whinery recused herself from hearing
any matter on the Chapter 11 proceeding.

The U.S. Trustee for Region 14 informed the U.S. Bankruptcy Court
for the District of Arizona that it was unable to appoint
creditors form the Official Committee of Unsecured Creditors for
the Chapter 11 case of Starr Pass Residential LLC because an
insufficient number of persons holding unsecured claims against
the Debtor have expressed interest in serving on a committee.


STARR PASS: Can Hire Eason Rohde as Special Litigation Counsel
--------------------------------------------------------------
The Hon. Paul Sala of the U.S. Bankruptcy Court for the District
of Arizona authorized Starr Pass Residential LLC to employ Eason
Rohde LLC as its special litigation counsel nunc pro tunc to
June 12, 2014, to represent the Debtor in the state court
proceeding pending in Pima County Superior Court under Case No.
C20117682.

According to the Debtor, it desires to employ the firm to assist
it in connection with its litigation efforts in the State Court
Action.  Prior to the its petition date, the firm provided
services to the Debtor as well as other defendants in the State
Court Action, including F. Christopher Ansley, Starr Pass
Redevelopment, Starr Pass Master HOA, Starr Pass Holdings, and
Title Security of Arizona Trust 708.  The firm is not owed any
amounts for services provided prior to the Petition Date, or has
waived any claim for any unpaid services.  Additionally, any
payments made to the firm, will be provided by Debtor's
representatives Peter Ansley and F. Christopher Ansley,
personally, rather than from the Debtor's bank account.

The Debtor assured the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

                   About Starr Pass Residential

Starr Pass Residential LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Ariz. Case No. 14-09117) on June 12, 2014.  Christopher
Ansley signed the petition as authorized officer.  Gust Rosenfeld,
P.L.C., serves as the Debtor's counsel.  The Debtor disclosed
total assets of $7.40 million and liabilities of $146 million.

The bankruptcy case was reassigned to Judge Eileen W. Hollowell
because Judge Brenda Moody Whinery recused herself from hearing
any matter on the Chapter 11 proceeding.

The U.S. Trustee for Region 14 informed the U.S. Bankruptcy Court
for the District of Arizona that it was unable to appoint
creditors form the Official Committee of Unsecured Creditors for
the Chapter 11 case of Starr Pass Residential LLC because an
insufficient number of persons holding unsecured claims against
the Debtor have expressed interest in serving on a committee.


STARWOOD PROPERTY: S&P Lowers Sr. Secured Debt Rating to 'BB'
---------------------------------------------------------------
As previously announced, on Dec. 12, 2014, Standard & Poor's
Ratings Services lowered its rating on Starwood Property Trust
Inc.'s senior secured debt to 'BB' from 'BB+' as part of the
implementation of its revised issue-level criteria for nonbank
financial institutions.  S&P previously rated the company's
secured debt a notch above the 'BB' issuer credit rating.
However, the revised criteria no longer allows for such notching.
The change in the rating did not result from any change in the
creditworthiness of the debt.


STATION CASINOS: Bank Debt Trades at 2% Off
-------------------------------------------
Participations in a syndicated loan under which Station Casinos is
a borrower traded in the secondary market at 97.58 cents-on-the-
dollar during the week ended Friday, December 27, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 1.66
percentage points from the previous week, The Journal relates.
NRG Energy pays 325 basis points above LIBOR to borrow under the
facility.  The bank loan matures on March 1, 2020, and carries
Moody's B1 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 212 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


SUNGARD AVAILABILITY: S&P Lowers CCR to 'B'; Outlook Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Wayne, Pa.-based Sungard Availability Services
Capital Inc. to 'B' from 'B+'.  The outlook is negative.

In addition, S&P lowered the issue-level rating on the company's
senior secured credit facility due 2019 to 'B+' from 'BB-'.  The
recovery rating remains '2', which indicates S&P's expectation of
substantial (70% to 90%) recovery in the event of payment default.
S&P also lowered the issue-level rating on the company's senior
unsecured notes due 2022 to 'CCC+' from 'B-'.  The recovery rating
remains '6', which indicates S&P's expectation of negligible (0%
to 10%) recovery in the event of payment default.

"The downgrade reflects Sungard Availability Services' reported
financial results, which are lower than we previously expected,
and the challenging operating environment," said Standard & Poor's
credit analyst Tuan Duong.

At the time of the spin-off from Sungard Data Systems in March
2014, the company laid out plans to strategically reposition its
business to focus on fully managed recovery services and the
disaster-recovery-as-a-service (DRaas) business, while protecting
its legacy traditional recovery segment.  The traditional recovery
business has been in secular decline as more companies
increasingly bring disaster recovery infrastructure in house in
order to manage costs and maintain more flexible cloud-based
recovery.  Furthermore, the company's managed services segment,
which comprises mainly co-location data center services, has been
subject to intense competition and pricing pressure.  As a result
of the compounding effect of the loss of higher margin traditional
recovery business, slower growth in DRaaS, and general pricing
pressures, the company's cash flow generation has experienced a
meaningful decline.  While S&P recognizes the general growth
opportunity in the cloud recovery business, the company has not
yet achieved sufficient growth in this area to offset the
challenges in other businesses.  The company's scale and its brand
equity in traditional disaster recovery services somewhat offset
these factors.  S&P believes the company will continue to
experience challenges as it transitions its existing client base
to a managed recovery program and cloud-based offerings.  As a
result, S&P has changed its assessment of the company's business
risk profile to "weak" from "fair."

The negative outlook reflects S&P's view that the company faces a
challenging operating environment in traditional recovery
services, and also reflects execution risk in its ongoing business
transition to a DRaaS business model.

S&P does not expect the business to return to growth over the next
12 have projected low- to mid-single-digit revenue declines.  If
recent negative operating trends were to accelerate, resulting in
a weak liquidity position and a negligible operating FOCF-to-debt
ratio, S&P could lower the rating.

While unlikely in the near term because of the lack of growth in
the business, S&P would consider revising the outlook to stable if
the company is able to demonstrate evidence of successful business
execution, and be on track to sustainable profitable growth such
that leverage is around 4x or below.


SUPERCONDUCTOR TECHNOLOGIES: Cash Is Insufficient for 2015
----------------------------------------------------------
Superconductor Technologies Inc. filed its quarterly report on
Form 10-Q, reporting a net loss of $2.41 million on $86,000 of
total revenue for the three months ended Sept. 27, 2014, compared
with a net loss of $3.45 million on $229,000 of total revenue for
the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed
$13.8 million in total assets, $7.25 million in total liabilities,
and stockholders' equity of $6.5 million.

At Sept. 27, 2014, Superconductor Technologies had $1.0 million in
cash and cash equivalents.  The Company's cash resources will not
be sufficient to fund business for the next twelve months.  The
Company has incurred significant net losses since inception and
had an accumulated deficit of $274 million through 2013 and $280
million through Sept. 27, 2014.  For the nine months ended
Sept. 27, 2014, the Company incurred a net loss of $5.4 million
and sustained negative cash flows from operations of $7.1 million.
For all of 2013, the Company incurred a net loss of $12.2 million
and had negative cash flows from operations of $8.3 million.
These factors raise substantial doubt about its 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/Hki60r

Austin, Tex.-based Superconductor Technologies Inc. (Nasdaq: SCON)
operates in a single business segment, the research, development,
manufacture and marketing of high performance products used in
cellular base stations to maximize the performance of wireless
telecommunications networks by improving the quality of uplink
signals from mobile wireless devices.


SWEET ONION TRADING: Case Summary & 17 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Sweet Onion Trading Corporation
        P.O. Box 703
        Grant, FL 32949

Case No.: 14-13792

Chapter 11 Petition Date: December 24, 2014

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Debtor's Counsel: Kenneth D Herron, Jr., Esq.
                  WOLFF, HILL, MCFARLIN & HERRON, P.A.
                  1851 West Colonial Drive
                  Orlando, FL 32804
                  Tel: 407-648-0058
                  Fax: 407-648-0681
                  Email: kherron@whmh.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Barry Rogers, president.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb14-13792.pdf


TACTICAL FIREARMS: Ex-Owner Refuses to Surrender Facebook Page
--------------------------------------------------------------
Tim Cushing, writing for Techdirt.com, reports that former
Tactical Firearms owner Jeremy Alcede has been arrested for
contempt of court for refusing to hand over his Facebook page
password to the new owners, who plan to rename the business.

According to Techdirt.com, Mr. Alcede claims he was forced out of
ownership by the actions of the new owner, Steven "Coe" Wilson.
The report says that Mr. Wilson had refused to sign refinancing
papers, which pushed the Company into Chapter 11 bankruptcy.  The
report states that Mr. Wilson brought in the owner of a former
competitor to run the shop and has demanded the password to Mr.
Alcede's Facebook page.

Citing Mr. Alcede, Techdirt.com relates that the Tactical Firearms
page is his personal page.  The report quoted Mr. Alcede as
saying, "When they said they wanted the Facebook, I explained to
the attorney who was representing the company that there is no
company Facebook page and there's just my personal page.  And I
asked her to convey that to the judge, and obviously it wasn't
conveyed."

Mr. Alcede has another Tactical Firearms page under Mr. Alcede's
control that serves as a business/organization page, which the new
owners didn't list in their bankruptcy filings, Techdirt.com
reports.  Mr. Alcede says in his Facebook post that he has already
lost control of his tacticalfirearm.us e-mail account.

Techdirt.com states that a judge has appointed a third party to
tally the personal and business posts on that Facebook page to
decide who owns it.

Gunssavelives.net recalls that shooting center Tactical Firearms
filed for Chapter 11 bankruptcy on June 27, 2014.  According to
the report, Mr. Alcede claimed that ICon Bank wouldn't accept a
cash payment of loans.  The report states that ICon Bank needed
the Company to consolidate three short-term loans into a single
long-term loan, which Mr. Alcede opposed.


TENET HEALTHCARE: Former Fla. Gov. Jeb Bush Quits From Board
------------------------------------------------------------
John Ellis "Jeb" Bush notified the Board of Directors of Tenet
Healthcare Corporation of his decision to resign from the Board,
to be effective as of Dec. 31, 2014, according to a regulatory
filing with the U.S. Securities and Exchange Commission.

Mr. Bush is not resigning on account of any disagreement with
Tenet.  Upon the effectiveness of Mr. Bush's resignation, the size
of the Board will be reduced from ten directors to nine.

                            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.


TLC HEALTH: Has Until Jan. 13 to File Chapter 11 Plan
-----------------------------------------------------
The Hon. Carl L. Bucki of the U.S. Bankruptcy Court for the
Western District of New York approved an agreement between TLC
Health Network and the Official Committee of Unsecured Creditors,
wherein:

  1) The Debtor's exclusive filing and solicitation periods
     pursuant to Bankruptcy Code section 1112(d) are
     extended, insofar as it prohibits the filing of, and
     solicitation of acceptances for, a chapter 11 plan by the
     Committee through Jan. 13, 2015 and March 1, 2015,
     respectively.

  2) The Debtor and the Committee shall be permitted to stipulate
     to a further extension of the Debtor's exclusive filing and
     solicitation periods for additional periods of time, up to
     and including the dates requested by the Debtor in its Motion
     (April 13, 2015 and June 3, 2015, respectively), without the
     requirement of notice and a hearing, by submitting one or
     more stipulated orders to the Court reflecting such
     extensions.

  3) The Debtor's exclusive filing and solicitation periods are
     extended as to other parties in interest, with the
     exception of the Committee, through April 13, 2015 and June
     3, 2015.

  4) An adjourned hearing on the Motion shall be held on Jan. 11,
     2015 at 1:00 p.m., unless prior to that time, the Court is
     advised that a stipulation further extending the exclusive
     periods has been or will be submitted to the Court for
     consideration.

The Committee objected before the Court that the Debtor's
request to extend its exclusive periods citing uncertainty of
the Debtor's financial condition after the first quarter of 2015,
and the expressed interest of two purchasers that must be explored
diligently, the Committee believes that the requested extension
of the exclusive periods for an additional four months is too long
under the circumstances.

The Committee cited, in lieu of the four-month extension
requested by the Debtor, it would propose a one-month extension
of the Debtor's exclusive periods. This shortened period would
allow the Committee and other parties in interest to determine
the feasibility of the various potential outcomes in this case,
including the Debtor's stand-alone restructuring proposal
and the sale of the Debtor's assets to one of the two interested
purchasers.

According to the Committee, in order to minimize the
administrative burden that would arise with regard to additional
extensions of the Debtor's exclusive periods, the Committee would
also propose that a further extension of the Debtor's exclusive
filing and solicitation periods for an additional period of time,
up to and including the dates requested by the Debtor in its
motion could be stipulated by and between the Committee and the
Debtor without the requirement of notice and a hearing.

                   About TLC Health Network

TLC Health Network filed a Chapter 11 petition (Bankr. W.D.N.Y.
Case No. 13-13294) on Dec. 16, 2013.  The petition was signed by
Timothy Cooper as Chairman of the Board.  The Debtor estimated
assets of at least $10 million and debt of at least $1 million.
Jeffrey A. Dove, Esq., at Menter, Rudin & Trivelpiece, P.C.,
serves as the Debtor's counsel.  Damon & Morey LLP is the Debtor's
special health care law and corporate counsel.  The Bonadio Group
is the Debtor's accountants.  Howard P. Schultz & Associates, LLC
is the Debtor's appraiser.

The case is assigned to the Hon. Carl L. Bucki.

A three-member panel composed of Cannon Design, Chautauqua
Opportunities, Inc., and Jamestown Rehab Services has been
appointed as the official unsecured creditors committee.  Bond,
Schoeneck & King, PLLC is the counsel to the Committee.  The
Committee has tapped NextPoint LLC as financial advisor.

Gleichenhaus, Marchese & Weishaar, PC is the general counsel for
Linda Scharf, the Patient Care Ombudsman of TLC Health.


TRANSGENOMIC INC: Rodney Markin Quits From Board of Directors
-------------------------------------------------------------
Rodney S. Markin, M.D., Ph.D., notified Transgenomic, Inc., of his
decision to resign from the Board of Directors of the Company,
including from his position as Chairman of the Board, and from all
committee memberships, effective as of Dec. 31, 2014.

Dr. Markin's decision to resign from the Board was for personal
reasons and was not due to any disagreement with the Company on
any matter relating to the Company's operations, policies or
practices, according to a regulatory filing with the U.S.
Securities and Exchange Commission.

                        About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global
biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

The Company reported a net loss available to common stockholders
of $16.71 million in 2013, a net loss available to common
stockholders of $8.98 million in 2012 and a net loss available to
common stockholders of $10.79 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $30.84
million in total assets, $20.61 million in total liabilities and
$10.23 million in stockholders' equity.


TRIGEANT HOLDINGS: Plan Filing Exclusivity Terminated
-----------------------------------------------------
U.S. Bankruptcy Judge Erik P. Kimball granted BTB Refining LLC's
motion to terminate exclusive periods in which only Trigeant
Holdings, Ltd., et al., may file a plan and solicit acceptances.

On Nov. 24, 2014, the Court conducted a hearing on the motion,
including the Debtors' objection, the joinders filed by the
Debtors' proposed purchaser, Gravity Midstream Corpus Christi,
LLC; and by Harry Sargeant II, Daniel Sargeant and James Sargeant
(the Consenting Owners).

BTB is authorized to file and pursue confirmation of the
proposed plan.  The order does not authorize any other party-in
interest to file a plan or solicit acceptances in this case absent
further order, upon motion, notice and a hearing.

The confirmation of the BTB Plan will be considered on a parallel
track to the Debtors' Plan.  The Court's order dated Oct. 30,
2014, setting various deadlines in respect of the Debtors' Plan
will be applicable to both the Debtors' Plan and the BTB Plan and
modified as:

                                       Debtors' Plan  BTB Plan
                                       -------------  --------

Deadline for Filing of Plan Completed  Dec. 15        Dec. 15

Deadline for Fee Applications          Feb. 10        Feb. 10

Deadline for Filing Ballots Accepting                 Not
or Rejecting the Plan                  Feb. 12        Applicable

Deadline for Objections to
Confirmation                           Feb. 13        Feb. 13

Deadline for Objections to Final                      Not
Approval of Disclosure Statement       Feb. 13        Applicable

Proponent's Deadline for Filing
Proponent's Report and Confirmation
Affidavit                              Feb. 13        Feb. 13

Proponent's Deadline for Filing
Response to Any Objection              Feb. 17        Feb. 17

Deadline for Delivery of Binding       Feb. 19-20;    Feb. 19-20;
Commitment Letter (With No Due         Feb. 23-24     Feb. 23-24
Diligence Condition), Delivery of
$1.5 Million Deposit Which will Be
Nonrefundable in Case of Breach By
Proposed Buyer, and Elimination of
Financing and Due Diligence Contingencies
in Asset Purchase Agreement Satisfied
Jan. 30, 2015 Hearing on Final Approval
of Disclosure Statement (If Applicable),
Confirmation of Plan, and Fee Applications

Discovery in respect of the BTB Plan will be conducted on a
parallel track as discovery in respect of the Debtors' Plan.  The
deadline to serve any written discovery (including requests for
production of documents, interrogatories, and requests for
admission is set for Dec. 15.  The last date for depositions will
be Feb. 12.

BTB, a creditor, requested for the termination of the Debtors'
exclusive periods because the Debtor Plan (i) fails to maximize
the value of the Debtors' assets; (ii) calls for complex and
burdensome litigation over the rights to the dock that is adjacent
to the Trigeant refinery in Corpus Christi, Texas; (iii)
discriminates against minority equity interests; and (iv) is
patently nonconfirmable.

The BTB Plan, cures all of these deficiencies.  The BTB Plan is
based upon a transaction where the buyer, Conversion Refining LLC,
a wholly ?owned BTB subsidiary, will purchase the Refinery, free
and clear of all liens, claims, and interests, for the sum of
$105,000,000, which sum comprises (i) a credit bid of BTB's first
lien on the refinery, which BTB will contribute to CR LLC; (ii) a
credit bid of PDVSA's second lien on the Refinery, which BTB has
the right to, and will, contribute to CR LLC; and (iii) cash.
In addition, BTB will contribute to CR LLC all of its contractual
and legal rights relative to use of the dock adjacent to the
refinery.

The Consenting Owners, in their joinder to the Debtors' objection,
stated that BTB Plan is patently not confirmable.

The Debtors, in their objection, stated that BTB has already has
violated exclusivity and must not be rewarded by a grant of
termination.

                     About Trigeant Holdings

Trigeant, owner of a Corpus Christi, Texas oil refinery, provides
fuel and asphalt products to the housing and transportation
industries.  The company is owned by Palm Beach, Florida
billionaire Harry Sargeant III and members of his family.

On Nov. 26, 2014, Trigeant filed its first bankruptcy In re
Trigeant Ltd., 13-38580.  The case was dismissed on April 1, 2014.

Trigeant Holdings, Ltd., and Trigeant, LLC, filed Chapter 11
bankruptcy petitions (Bankr. S.D. Fla. Case Nos. 14-29027 and
14-29030, respectively) on Aug. 25, 2014, amid a dispute among
members of the Sargeant family.  Mr. Sargeant's two brothers,
Daniel and James, and his father, Harry Sargeant II, sent Trigeant
to bankruptcy to fend off Mr. Sargeant III's bid to seize control
of the company's primary asset.  The family says Mr. Sargeant III,
who has a $22 million lien against the plant through a company he
controls called BTB Refining LLC, is attempting to prevent the
refinery from operating in an effort to lower its value and obtain
ownership of it.

Trigeant Holdings estimated both assets and liabilities of
$50 million to $100 million.

Berger Singerman LLP serves as the Debtors' counsel.

The Bankruptcy Court set the general claims bar date as Oct. 17,
2014, and March 31, 2015, as the deadline by which governmental
entities must file proofs of claims.

The Debtors filed on Sept. 16, 2014, their Joint Plan of
Reorganization under Chapter 11 of the Bankruptcy Code.  The Plan
is premised on the sale of substantially all of the Debtors'
assets to Gravity Midstream Corpus Christi, LLC.  The Plan
provides that holders of Allowed Claims will be paid in full, in
cash.

The U.S. Trustee for Region 21 has not appointed a committee of
unsecured creditors.




TRIGEANT HOLDING: Can Hire Greenberg Traurig as Bankr. Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
authorized Trigeant Ltd. and its debtor-affiliates to employ Mark
D. Bloom and Greenberg Traurig, P.A. as general counsel, nunc pro
tunc to Oct. 27, 2014.

As reported in the Troubled Company Reporter on Nov. 13, 2014, the
Debtors said they anticipate that Greenberg Traurig may render
these services in the Chapter 11 Cases:

   (a) providing legal advice with respect to the Debtors' powers
       and duties as debtors in possession in the continued
       operation of their business and management of their
       property;

   (b) negotiating, drafting, and pursuing all documentation
       necessary in these Chapter 11 Cases;

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

   (d) appearing in Court and protecting the interests of the
       Debtors before the Court;

   (e) assisting with any disposition of the Debtors' assets, by
       sale or otherwise;

   (f) negotiating and taking all necessary or appropriate actions
       in connection with a plan or plans of reorganization and
       all related documents and transactions contemplated
       therein;

   (g) attending all meetings and negotiating with representatives
       of creditors, the U.S. Trustee, and other parties-in-
       interest;

   (h) providing legal advice regarding bankruptcy law, corporate
       law, corporate governance, securities, real estate, energy
       and natural resources, employment, transactional, tax,
       labor, litigation, intellectual property, and other issues
       to the Debtors in connection with the Debtors' ongoing
       business operations; and

   (i) performing all other legal services for and providing all
       other necessary legal advice to the Debtors which may be
       necessary and proper in these Chapter 11 Cases.

Greenberg Traurig will be paid at these hourly rates:

       Mark D. Bloom                   $745
       Scott M. Grossman               $530
       John R. Dodd                    $385
       Maribel Fontanez, Paralegal     $250
       Shareholders                    $350-$1,150
       Of Counsel                      $350-$1,115
       Associates                      $100-$735
       Legal Assistants/Paralegals     $100-$380

Other attorneys and paralegals will render services to the Debtors
as needed, with the understanding that absent prior approval of
the Debtors no such attorney will bill at an hourly rate in excess
of $745 in these cases.

Greenberg Traurig will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Greenberg Traurig has requested, but has yet to receive, a post-
petition retainer in the amount of $25,000 from property of the
Debtors' estates, but has neither sought nor received any other
form of compensation for the proposed services to be rendered.

Mark D. Bloom, principal shareholder of Greenberg Traurig, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

                     About Trigeant Holdings

Trigeant Holdings, Ltd., and Trigeant, LLC, filed separate Chapter
11 bankruptcy petitions (Bankr. S.D. Fla. Case Nos. 14-29027 and
14-29030, respectively) on Aug. 25, 2014.  Berger Singerman LLP
serves as the Debtor's counsel.  Trigeant Holdings estimated both
assets and liabilities of $50 million to $100 million.

The Debtors filed on Sept. 16, 2014, their Joint Plan of
Reorganization under Chapter 11 of the Bankruptcy Code.  The Plan
is premised on the sale of substantially all of the Debtors'
assets to Gravity Midstream Corpus Christi, LLC.  The Plan
provides that holders of Allowed Claims will be paid in full, in
cash.

The U.S. Trustee for Region 21 has not appointed a committee of
unsecured creditors.


TRUMP ENTERTAINMENT: Lease Decision Period Extended to April 7
--------------------------------------------------------------
Trump Entertainment Resorts Inc. and its debtor affiliates sought
and obtained an order extending through and including April 7,
2015, their statutory deadline to assume or reject real property
leases.  The order is without prejudice to the rights of the
Debtors and their estates to seek a further extension of their
lease decision period with the consent of the affected lessors.

                 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.


U.S. COAL: Judge Says Co. Can Begin Spending $2 Million Loan
------------------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that a
bankruptcy judge said that U.S. Coal Corp. can take out a $2
million loan to keep its Kentucky coal mining operations running
while executives figure out how to get the company out of
bankruptcy.  According to the report, with Judge Tracey Wise's
approval, U.S. Coal executives can begin spending money extended
by Alabama-based Porter Capital Corp. The struggling company was
cut off from its $10 million bank loan earlier this year,
according to documents filed in U.S. Bankruptcy Court in
Lexington, Kentucky.

                About U.S. Coal and Licking River

On May 22, 2014, an involuntary Chapter 11 petition was filed
against Licking River Mining, LLC, before the United States
Bankruptcy Court for the Eastern District of Kentucky.  On May 23,
2014, an involuntary Chapter 11 petition was filed against Licking
River Resources, Inc. and Fox Knob Coal., Inc.  On June 3, 2014,
an involuntary Chapter 11 petition was filed against S.M. & J.,
Inc. On June 4, 2014, an involuntary Chapter 11 petition was filed
against J.A.D. Coal Company, Inc.  On June 12, 2014, the Court
entered an order for relief in each of the bankruptcy cases.

On June 10, 2014, an involuntary Chapter 11 petition was filed
against U.S. Coal Corporation.  On June 27, 2014, the Court
entered an order for relief in U.S. Coal's bankruptcy case.

On Nov. 4, 2014, Harlan County Mining, LLC, Oak Hill Coal, Inc.,
Sandlick Coal Company, LLC, and U.S. Coal Marketing, LLC, filed
petitions in the United States Bankruptcy Court for the Eastern
District of Kentucky seeking relief under chapter 11 of the United
States Bankruptcy Code.  The Debtors' cases have been assigned to
Chief Judge Tracey N. Wise.  The Debtors are seeking to have their
cases jointly administered for procedural purposes, meaning that
upon entry of such an order all pleadings will be maintained on
the case docket for Licking River Mining, LLC, Case No. 14-10201.

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1)
the Licking River Division that was formed through the acquisition
of LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in
January 2007 for $33 million., and (2) the J.A.D. Division that
was formed through the acquisition of JAD and Fox Knob, and
Sandlick Coal Company, LLC and Harlan County Mining, LLC in April
2008 for $41 million.  Both the LRR Division and the JAD Division
are located in the Central Appalachia region of eastern Kentucky.
The LRR Division has approximately 26.3 million tons of surface
reserves under lease.  The JAD Division has 24.4 million tons of
surface reserves, both leased and owned real property.  At
present, U.S. Coal has three surface mines in operation between
the LRR Division and JAD Division.

The Official Committee of Unsecured Creditors has tapped Barber
Law PLLC and Foley & Lardner as attorneys.


U-VEND INC: Incurs $286K Net Loss in Q3 Ending Sept. 30
-------------------------------------------------------
U-Vend, Inc., filed its quarterly report on Form 10-Q, reporting a
net loss of $286,000 on $86,500 of total revenue for the three
months ended Sept. 30, 2014, compared with a net loss of $101,000
on $nil of total revenue for the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.72
million in total assets, $2.32 million in total liabilities, and a
stockholders' deficit of $600,000.

As of Sept. 30, 2014, the Company had cash and cash equivalents of
$0.4 million and a working capital deficit of $32.0 million.

The Company incurred a loss of $1.45 million during the nine
months ended Sept. 30, 2014, has incurred accumulated losses
totaling $3.23 million, and has a working capital deficit of $1.11
million at Sept. 30, 2014.  These factors, among others, indicate
that the Company may be unable to continue as a going concern,
according to the regulatory filing.

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

                        http://is.gd/LfJL85

U-Vend, Inc., engages in the business of developing, marketing and
distributing various next-generation self-serve electronic kiosks
in a variety of locations ranging from neighborhood grocery
stores, drug stores, mass merchants, malls, hospitals and other
retail locations.  It also owns and operates a kiosk with a
particular focus on healthy vending.  The company was founded by
Raymond J. Meyers on March 26, 2007 and is headquartered in Santa
Monica, Calif.


ULTIMATE NUTRITION: Has Interim Authority to Use TD Bank Cash
-------------------------------------------------------------
Judge Albert S. Dabrowski of the U.S. Bankruptcy Court for the
District of Connecticut gave Ultimate Nutrition, Inc., et al.,
interim authority to use funds that constitute cash collateral of
TD Bank, N.A., pursuant to prepetition financing arrangements.

The Debtors are authorized to use cash collateral to pay actual,
necessary and ordinary operating expenses not to exceed
$4,716,378.

TD extended prepetition financing to the Debtors and certain of
their affiliates pursuant to the following:

   (a) a revolving credit and term loan agreement entered into on
       Jan. 20, 2012, under which the amount of approximately
       $8,007,000 was due and owing as of the Petition Date;

   (b) a term loan evidenced by a term note dated Jan. 20, 2012,
       under which approximately $2,417,000 was due and owing as
       of the Petition Date;

   (c) an export revolving line of credit facility entered into on
       March 17, 2009, under which approximately $1,662,000 was
       due and owing as of the Petition Date;

   (d) an equipment line of credit entered into Nov. 8, 2011,
       under which approximately $1,084,000 was due and owing as
       of the Petition Date;

   (e) unlimited continuing guaranty agreements, each dated
       March 17, 2009, under which approximately $1,258,000 was
       due and owing as of the Petition Date.

The Cash Collateral Motion is set for a further hearing on
Jan. 15, 2015, at 10:00 a.m.

A full-text copy of the Interim Cash Collateral Order is available
at http://bankrupt.com/misc/ULTIMATEcashord1219.pdf

                     About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that
time.  The company has two facilities located in Farmington,
Connecticut, one product distribution center in New Britain,
Connecticut and a research and development center in West Palm
Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition estimated $10 million to $50 million in assets
and debt.  The schedules of assets and liabilities and statement
of financial affairs are due Dec. 31, 2014.

The 11 U.S.C. Sec. 341(a) meeting of creditors is slated for Jan.
14, 2015.  The deadline to file claims is April 14, 2015.


UNITED CONTINENTAL: Moody's Hikes Corporate Family Rating to B1
---------------------------------------------------------------
Moody's Investors Service upgraded certain debt ratings of United
Continental Holdings, Inc. ("UCH"), including the Corporate Family
Rating to B1 from B2, and most of the ratings on the Enhanced
Equipment Trust Certificates ("EETCs"). Moody's affirmed the
senior secured corporate debt rating at Ba2, and downgraded the
senior unsecured corporate debt rating to B3 from B2. The
Speculative Grade Liquidity Rating is affirmed at SGL-1. The
rating outlook is positive.

Ratings Rationale

The upgrade of the Corporate Family rating to B1 recognizes that
operating improvements realized so far should lead to stronger
profitability in 2015 and beyond, with the company turning solidly
free cash flow positive. "Moody's believes that increased profits
and cash flow, with continued debt reduction as UCH progresses
towards its $15 billion debt target should result in further
strengthening of credit metrics," said Moody's Senior Credit
Officer, Jonathan Root. "As UCH continues to execute its multi-
year Project Quality program to control costs and hones its
operational effectiveness through such programs as managing
capacity through the seasons, the airline is expected to improve
revenue management practices and modestly grow yields. A sustained
lower fuel price will also meaningfully contribute to stronger
financial results," continued Root.

The affirmation of the senior secured and downgrade of the senior
unsecured ratings result from the repayments of over $1.3 billion
of unsecured and/or subordinated debt and less pension
underfunding that change the liability claims structure. A
proportionately greater amount of senior secured claims are in
UCH's structure after the early repayments of various debt
obligations. Moody's expect this trend to continue as the company
is likely to further reduce unsecured debt and increase secured
debt. With the senior secured obligations representing a larger
portion of funded debt and no subordinated debt that is junior to
the unsecured claims, the unsecured debt has a higher expected
loss resulting in a rating that is two notches below the CFR.

The SGL-1 rating reflects Moody's view that UCH will continue to
maintain very good liquidity. The company should exit 2014 with
about $4.5 billion of cash, $1.35 billion of revolver availability
and more than $6.0 billion of unencumbered assets. With a
sustained lower cost of fuel in 2015, Moody's expects at least
$700 million of free cash flow in 2015, probably much more if fuel
costs remain at their current levels.

Of the 22 A-tranche EETCs outstanding, 19 have been upgraded in
step with the upgrade of the Corporate Family rating, two have
been affirmed (Continental: 1998-3, 1999-1) and one was downgraded
to Ba1 (UAL: 2007-1). Of the 14 B-tranches outstanding, eleven
have been upgraded, two were affirmed (Continental 1999-1, 2007-1)
and one was downgraded (UAL 2007-1).

The affirmations of the Baa2 ratings on the CAL Series 1998-3 and
CAL 1999-1 A-tranches and Ba1 rating on the CAL 1999-1 B-tranche
reflect Loan to Values ("LTV"s) that are elevated relative to
other A-tranches that are rated Baa1 or B tranches rated inthe Ba
rating category. These specific transactions also lack cross-
default and cross-collateralization protection, and the aircraft
that comprise the collateral are aging. The United 1998-3 EETC has
only two aircraft, and 17 aircraft in the United 1999-1 EETC are
about 16 years old. Nonetheless, the affirmation also considers
that the aircraft models are relevant to the network and the
strengthening corporate credit profile. The affirmation of CAL
2007-1 B-tranche reflects an LTV that is elevated relative to
those of other of the company's B-tranche EETCs.

The downgrade of the A-tranche and B-tranche ratings of the United
2007-1 EETC to Ba1 and B1, respectively, reflect Moody's estimate
of loan-to-value approaching 90% and over 100%, respectively,
levels meaningfully weaker than originally expected. There would
be little cushion on the A-tranche following any rejection of this
transaction pursuant to Section 1110 of the US Bankruptcy Code.
The collateral of 13 aircraft includes three 1998 vintage B747-
400s whose market values have faced significant secular declines.
The 747-400 values are likely to continue declining because of
availability of more efficient wide body airplanes and limited air
freight demand which limit freighter conversions. Moody's
anticipates little improvement in the LTV's because the 747s
remain in the transaction until the scheduled maturity date in
July 2022. B777s and B767s round out the collateral pool for
United 2007-1, with an average age of the collateral at about 15
years. This transaction is cross-defaulted and cross-
collateralized, however.

An upgrade of the ratings could occur if UCH continues to improve
unit revenues and to limit growth in non-fuel unit costs to expand
operating earnings and operating cash flow generation. Sustained
credit metrics such as an EBITDA margin that approaches 20%, FFO +
Interest to Interest of about 4.5 times, Debt to EBITDA that
approaches 4.0 times and the expectation of sustained free cash
flow well in excess of $600 million could also result in a higher
rating. A balanced approach between returns to shareholders,
reducing leverage and sustaining very good liquidity would be an
important consideration in any potential upgrade. The positive
outlook could be removed and or the ratings downgraded if UCH is
unable to maintain its EBITDA margin above 17% or if unrestricted
cash fell below $2.5 billion or aggregate liquidity (cash and
availability on revolving credit facilities) was sustained below
$4.0 billion. The expectation of negative free cash flow, Debt to
EBITDA approaching 6.0 times or EBIT to interest below two times
could also lead to a downgrade

Changes in UCH's Corporate Family rating, in Moody's opinion of
the importance of particular aircraft models to UCH's network, or
in Moody's estimates of aircraft market values which will affect
estimates of loan-to-value can result in changes to EETC ratings.

United Continental Holdings, Inc. (NYSE: UAL) is the holding
company for United Airlines, Inc. ("United"). United and United
Express operate an average of 5,100 flights a day to 374 airports
across six continents. Moody's forecast revenue of about $39
billion in 2014 and Debt to EBITDA of about 4.8 times at December
31, 2014.

Upgrades:

Issuer: United Continental Holdings, Inc.

Probability of Default Rating, Upgraded to B1-PD from B2-PD

Corporate Family Rating (Local Currency), Upgraded to B1 from B2

Outlook Actions:

Issuer: United Airlines, Inc.

Outlook, Remains Positive

Issuer: United Continental Holdings, Inc.

Outlook, Remains Positive

Upgrades:

Issuer: United Air Lines, Inc.

  Senior Secured Enhanced Equipment Trust Ser. 2009-2B, Upgraded
  to Ba2 from Ba3

  Senior Secured Enhanced Equipment Trust Ser. 2009-2A, Upgraded
  to Baa2 from Baa3

  Senior Secured Pass-Through Ser. 2009-1, Upgraded to Baa1 from
  Baa2

Issuer: United Airlines, Inc.

  Senior Secured Enhanced Equipment Trust Ser. 2012-3 Cl. C,
  Upgraded to Ba3 from B1

  Senior Secured Enhanced Equipment Trust Ser. 2005-ERJ1,
  Upgraded to Ba3 from B1

  Senior Secured Enhanced Equipment Trust Ser. 2000-1 Cl. B,
  Upgraded to Ba1 from Ba3

  Senior Secured Enhanced Equipment Trust Ser. 1997-4B, Upgraded
  to Ba1 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 2012-1 Cl. B,
  Upgraded to Ba1 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 2010-1 Cl. B,
  Upgraded to Ba1 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 2012-2 Cl. B,
  Upgraded to Ba1 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 2009-2B, Upgraded
  to Ba1 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 1999-2 Cl. B,
  Upgraded to Ba1 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 2000-2 Cl. B,
  Upgraded to Ba2 from Ba3

  Senior Secured Enhanced Equipment Trust Ser. 1998-1B,Upgraded
  to Baa3 from Ba2

  Senior Secured Enhanced Equipment Trust Ser. 2001-B, Upgraded
  to Baa3 from Ba1

  Senior Secured Enhanced Equipment Trust Ser. 2009-2A, Upgraded
  to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 2000-1 Cl. A1,
  Upgraded to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 1998-1A, Upgraded
  to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 1997-4A, Upgraded
  to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 2012-1 Cl.A,
  Upgraded to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 2012-2 Cl. A,
  Upgraded to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 2010-1 Cl. A,
  Upgraded to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 2001-A1, Upgraded
  to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 1997-1 Cl. A,
  Upgraded to Baa2 from Baa3

  Senior Secured Enhanced Equipment Trust Ser. 1999-2 Cl. A1,
  Upgraded to Baa1 from Baa2

  Senior Secured Enhanced Equipment Trust Ser. 2000-2 Cl. A1,
  Upgraded to Baa2 from Baa3

  Senior Secured Enhanced Equipment Trust Ser. 1999-2 Cl. A2,
  Upgraded to Baa1 from Baa2

  Senior Secured Equipment Trust Ser. 2003-ERJ1 Cl. A, Upgraded
  to Ba3 from B1

  Senior Secured Equipment Trust Ser. 2004-ERJ1 Cl. A, Upgraded
  to Ba3 from B1

  Senior Secured Equipment Trust Ser. 2009-1A, Upgraded to Baa1
  from Baa2

  Senior Secured Equipment Trust Ser. 2007-1 Cl. A, Upgraded to
  Baa1 from Baa2

Affirmations:

Issuer: United Airlines, Inc.

  Senior Secured Bank Credit Facility, Affirmed Ba2 (LGD2)

  Senior Secured Enhanced Equipment Trust Ser. 1999-1B, Affirmed
  Ba1

  Senior Secured Enhanced Equipment Trust Ser. 1999-1A, Affirmed
  Baa2

  Senior Secured Enhanced Equipment Trust Ser. 1998-3 Cl. A1,
  Affirmed Baa2

  Senior Secured Equipment Trust Ser. 2007-1 Cl. B, Affirmed Ba2

Issuer: United Continental Holdings, Inc.

  Speculative Grade Liquidity Rating, Affirmed SGL-1

Downgrades:

Issuer: Cleveland (City of) OH

  Senior Unsecured Revenue Bonds, Downgraded to B3 (LGD5) from B2
  (LGD4)

Issuer: Denver (City & County of) CO

  Senior Unsecured Revenue Bonds, Downgraded to B3 (LGD5) from B2
  (LGD4)

Issuer: Harris County Industrial Dev Corp, TX

  Senior Unsecured Revenue Bonds, Downgraded to B3 (LGD5) from B2
  (LGD4)

Issuer: Hawaii Department of Transportation

  Senior Unsecured Revenue Bonds, Downgraded to B3 (LGD5) from B2
  (LGD4)

Issuer: Houston (City of) TX

  Senior Unsecured Revenue Bonds, Downgraded to B3 (LGD5) from B2
  (LGD4)

Issuer: New Jersey Economic Development Authority

  Senior Unsecured Revenue Bonds, Downgraded to B3 (LGD5) from B2
  (LGD4)

Issuer: Port Authority of New York and New Jersey

  Revenue Bonds (Local Currency) Dec 1, 2015, Downgraded to B3
  (LGD5) from B2 (LGD4)

Issuer: United Air Lines, Inc.

  Senior Secured Pass-Through Ser. 2007-1 Cl. B, Downgraded to B1
  from Ba3

  Senior Secured Pass-Through Ser. 2007-1 Cl. A, Downgraded to
  Ba1 from Baa3

Issuer: United Airlines, Inc.

  Senior Unsecured Conv./Exch. Bond/Debenture, Downgraded to B3
  (LGD5) from B2 (LGD4)

Issuer: United Continental Holdings, Inc.

  Multiple Seniority Shelf, Downgraded to (P)B3 from (P)B2

  Senior Unsecured Regular Bond/Debenture, Downgraded to B3
  (LGD5) from B2 (LGD4)

The methodologies used in these ratings were Enhanced Equipment
Trust and Equipment Trust Certificates published in December 2010
and Global Passenger Airlines published in May 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.


UNIVAR N.V.: Bank Debt Trades at 4% Off
---------------------------------------
Participations in a syndicated loan under which Univar N.V. is a
borrower traded in the secondary market at 96.46 cents-on-the-
dollar during the week ended Friday, December 27, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 1.40
percentage points from the previous week, The Journal relates.
Univar N.V. pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on June 30, 2017.  The bank debt
carries Moody's B3 rating and Standard & Poor's B+ rating.  The
loan is one of the biggest gainers and losers among 212 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.


UNIVERSITY GENERAL: Closes UGH-Dallas Hospital
----------------------------------------------
University General Health System, Inc., announced the closing of
its University General Hospital - Dallas (Dufek Massif Hospital
Corporation).

As previously reported, the Company has invested almost $20
million in South Dallas during the past two years to revive this
hospital as a profitable provider of acute care medical services
within the community, to no avail.  The Company has been working
with lenders, creditors and capital sources for months to secure
an agreement that would avoid the closure of UGH - Dallas.  None
of these negotiations have been successful, and funding has not
been readily available.  In an effort to maintain the continued
success of its flagship Houston hospital, University General
Health System, Inc., was reluctantly forced to close the Dallas
facility on Friday, Dec. 19, 2014.  The Company continues to work
with lenders on an orderly closing process, including the payment
of UGH-Dallas' payroll obligations.

"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, in a previous press release.  "This decision is one of
the most difficult and challenging in the Company's history, and
one that we were not anticipating, but we were left with no other
options."

"We expect to proceed with the sale of UGH-Dallas, as interest has
been very high since our previous announcement of the proposed
sale," continued Dr. Chahadeh.  "We also believe the Dallas
closing will advance the Company's overall restructuring efforts
by consolidating our future business operations around Houston's
University General Hospital as our flagship facility.  Ultimately,
the pending sale of our Senior Living Segment, combined with the
disposition of UGH-Dallas, should allow the Company to eliminate
almost $60 million in debt."

                      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.


VANN'S INC: Ex-Employees Settle Lawsuit Against Insiders
--------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that the bankruptcy trustee for the estate of Montana electronics
retailer Vann's Inc. has settled a lawsuit against the company's
former top brass for $15.5 million.  According to the report, the
settlement, filed in Montana bankruptcy court, will benefit Vann's
creditors and former employees, who owned the company under
employee-stock-ownership plan.

                        About Vann's Inc.

Vann's Inc. -- http://www.vanns.com/-- a retailer of appliances
and consumer electronics with five stores in Montana, filed for
Chapter 11 protection (Bankr. D. Mont. Case No. 12-61281) in
Butte, Montana, on Aug. 5, 2012.  Founded in 1961, Vann's also
owned outdoor clothing and sports products at
http://www.bigskycountry.com/ Vann's was owned by an employee
stock ownership plan trust.

By the Chapter 11 bankruptcy petition date, Vann's employed 160
persons in 5 retail stores, and Apple designed mobile store in
Missoula (OnStore), a warehouse in Lolo and a call center in
Missoula.  Vann's sold appliances, consumer goods and related
products together with outdoor equipment, and clothing, footwear
for outdoor activities. E-Commerce sales represented one half of
total company sales. In 2011, Vann's generated a total of $100.8
million in sales, but suffered a net loss of $1.3 million.
Substantial losses began in 2008.

Vann's Inc. disclosed assets of $17.6 million and liabilities of
$14.4 million.  Assets include $12.2 million cost-value of
inventory plus $1 million in current accounts receivable.  The
Company owes $4 million to First Interstate Bank.  It also owes
$4.8 million on an inventory loan from GE Commercial Distribution
Finance Corp.

Bankruptcy Judge John L. Peterson presides over the case.  Vann's
hired Perkins Coie LLP's Alan D. Smith, Esq., and Brian A.
Jennings, Esq., as counsel; and Hamstreet & Associates, LLC, as
turnaround and restructuring advisors.

Prepetition lender GE Commercial Distribution Finance Corporation
is represented by Gary Vincent, Esq., at Husch Blackwell LLP, and
the Law Offices of John P. Paul, PLLC.  First Interstate Bank, the
DIP Lender, is represented by Benjamin P. Hursh, Esq., at Crowley
Fleck PLLP.

The U.S. Trustee formed a seven-member creditors committee.  The
Committee is represented by Halperin Battagia Raicht, LLP, and
Ross Richardson.

The Court appointed Montana lawyer Richard J. Samson as trustee
for Vann's on Oct. 3, 2012.  On Oct. 26, the Court approved the
stipulation between the Chapter 11 Trustee, First Interstate Bank,
GE, the Creditors' Committee and U.S. Trustee to convert the case
to Chapter 7.

The Court approved the sale of five Vann's retail stores to Texas-
based McMagic Partners LP.  Pursuant to the $4.5 million deal,
McMagic acquired the retail electronic and appliance stores in
Missoula, Hamilton, the Flathead Valley, Billings and Bozeman.
McMagic is owned by a Florida-based company that runs a chain of
electronics stores in the Southwest.


VARIANT HOLDING: Wants Court to Set March 17 as Claim Bar Date
--------------------------------------------------------------
Variant Holding Company LLC asks the U.S. Bankruptcy Court for the
District of Delaware to set March 17, 2015, at 4:00 p.m. (Eastern
Time) as deadline for creditors and all governmental units to file
their proofs of claim.

A hearing is set for Jan. 14, 2015, at 11:30 a.m. (Eastern Time)
to consider the Debtor's request.  Objections, if any, are due
Dec. 29, 2014, at 4:00 (Eastern Time).

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.


VARIANT HOLDING: Has Until March 2015 on Lease-Related Decision
---------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware gave Variant Holding Company LLC until March
26, 2015, to decide whether to assume or reject unexpired leases
under which it is the lessee.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.


VERMILLION INC: Has Equity Financing of up to $18.9 Million
-----------------------------------------------------------
Vermillion, Inc., announced that investors including Oracle
Investment Management, Jack W. Schuler, Birchview Fund LLC and
several Vermillion directors have agreed to purchase approximately
$10.5 million of unregistered shares of Vermillion's common stock
and warrants to purchase unregistered shares of Vermillion common
stock in a private placement.

Under the terms of the private placement, Vermillion has agreed to
sell an aggregate of 6,944,445 shares of its common stock at the
price of $1.44 per share, the closing price quoted on NASDAQ on
Dec. 18, 2014.  In addition, the investors will receive warrants
to purchase up to an aggregate of 4,166,659 shares of Vermillion
common stock at an exercise price of $2.00 per share.  The
warrants become exercisable six months after the closing of the
private placement and have a term of three years from the date of
issuance.  If and when the warrants are exercised, the company
will realize an additional $8.3 million in proceeds, bringing the
total investment to approximately $18.9 million, before
transaction costs.

In connection with the transaction, Vermillion agreed to use
commercially reasonable efforts to file as soon as reasonably
practicable but no later than 60 days after the closing a
registration statement with the Securities and Exchange Commission
to register the resale of both the shares and the shares
underlying the warrants issued at the closing.

The private placement is expected to close on or about Dec. 23,
2014, subject to customary closing conditions.  The proceeds will
be used for working capital and general corporate purposes.

"We are pleased with the success of this capital raise.  It will
provide the funds necessary to propel our commercial transition,"
said James LaFrance, Chairman, president and chief executive
officer of Vermillion.  "With this additional round of financing,
we are also suspending our at-the-market offering."

"I am very excited about the year we have in front of us.  This
investment represents a commitment from our current investors in
our "new" team and five year strategy.  It is a recognition of our
skills and expertise to become a leader in proprietary diagnostic
and bio-analytical solutions for the gynecological disease.  Our
goal is to improve the quality of life one patient at a time, and
there are significant unmet clinical needs in gynecologic disease,
starting with ovarian cancer," said Valerie Palmieri, incoming
president and chief executive officer of Vermillion.

The funds will enable Vermillion to expedite its Ova2 launch, as
well as build the Company's Adnexal mass registry, which is the
foundation for portfolio and market expansion.

                          About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 on March 30, 2009 (Bankr. D. Del.
Case No. 09-11091).  Vermillion's legal advisor in connection with
its successful reorganization efforts wass Paul, Hastings,
Janofsky & Walker LLP.  Vermillion emerged from bankruptcy in
January 2010.  The Plan called for the Company to pay all claims
in full and equity holders to retain control of the Company.

Vermillion incurred a net loss of $8.81 million in 2013, a net
loss of $7.14 million in 2012 and a net loss of $17.79 million in
2011.

As of Sept. 30, 2014, Vermillion had $18.40 million in total
assets, $5.83 million in total liabilities and $12.57 million in
total stockholders' equity.


VERMILLION INC: Larry Feinberg Reports 18.8% Stake as of Dec. 23
----------------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Larry N. Feinberg and his affiliates
disclosed that as of Dec. 23, 2014, they beneficially owned
8,112,182 shares of common stock of Vermillion, Inc., representing
18.82 percent based on a total of 43,110,014 shares of common
stock outstanding as of Dec. 18, 2014, according to information
furnished by Vermillion on Dec. 23, 2014.  A copy of the
regulatory filing is available for free at http://is.gd/xYysqq

                         About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 on March 30, 2009 (Bankr. D. Del.
Case No. 09-11091).  Vermillion's legal advisor in connection with
its successful reorganization efforts wass Paul, Hastings,
Janofsky & Walker LLP.  Vermillion emerged from bankruptcy in
January 2010.  The Plan called for the Company to pay all claims
in full and equity holders to retain control of the Company.

Vermillion incurred a net loss of $8.81 million in 2013, a net
loss of $7.14 million in 2012 and a net loss of $17.79 million in
2011.

As of Sept. 30, 2014, Vermillion had $18.40 million in total
assets, $5.83 million in total liabilities and $12.57 million in
total stockholders' equity.


VIGGLE INC: Obtains $2 Million Loan From Chairman and CEO
---------------------------------------------------------
Robert F.X. Sillerman, the executive chairman and chief executive
officer of Viggle Inc., made an unsecured demand loan to the
Company totalling $2,000,000, bearing interest at the rate of 12%
per annum.

The Company intends to use the proceeds from the Loan to fund
working capital requirements and for general corporate purposes.
Because Mr. Sillerman is a director, executive officer and greater
than 10% stockholder of the Company, a majority of the Company's
independent directors approved the transaction.

                           About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VILLAGE GREEN: Court Affirms Dismissal of Suit vs. Fannie Mae
-------------------------------------------------------------
Judge S. Thomas Anderson of the U.S. District Court for the
Western District of Tennessee affirmed the Bankruptcy Court's
orders in the appellate case captioned Village Green I, GP v.
Federal National Mortgage Association, Case No. 14-2351-STA-TMP.

The District Court finds no error in its previous rulings,
decisions which form the basis for Village Green's appeal of the
Bankruptcy Court's sua sponte dismissal of the bankruptcy case and
decision to lift the automatic stay.

Although the parties have requested oral argument, Judge Anderson
finds that oral argument would not assist the District Court in
reaching its decision.

This is the third appeal in this matter from a decision of the
Bankruptcy Court.  The District Court has set out the factual and
procedural background of the case in its previous opinions in
Federal National Mortgage Association v. Village Green I, GP, 483
B.R. 807 (W.D. Tenn. 2012) and in Federal National Mortgage
Association v. Village Green I, GP, No. 13-2643-STA, 2014 WL
288974 (W.D. Tenn. Jan. 27, 2014).

In its appeal, Village Green argues that the Bankruptcy Court's
final disposition of the case was the inevitable consequence of
the District Court's decisions in the previous appeals.  Or as
Village Green explains in its opening brief, "although Village
Green is technically appealing from the Bankruptcy Court's
dismissal of its Bankruptcy case, the substance of Village Green's
appeal is addressed to rulings made by this Court in Village Green
II."  According to Village Green, the District Court wrongly
decided the issues in the two earlier appeals, improperly set
aside the Bankruptcy Court's confirmation of Village Green's plan,
and remanded the case to the Bankruptcy Court with erroneous
instructions.  In this appeal Village Green asks the District
Court to correct its previous rulings and remand the case to the
Bankruptcy Court with instructions to confirm Village Green's
plan.

In its response, Fannie Mae first argues that Village Green's
artificial impairment argument is irrelevant.  Fannie Mae points
out that in Village Green I the District Court concluded that the
doctrine of artificial impairment continued to be good at law even
after the 1994 amendments to the Code and reversed the Bankruptcy
Court's conclusion to the contrary.

The Debtor-Appellant is represented by:

          John L. Ryder, Esq.
          Michael F. Rafferty, Esq.
          HARRIS SHELTON HANOVER WALSH, PLLC
          One Commerce Square
          40 Main St., Suite 2700
          Memphis, TN 38103-2555
          Telephone: (901) 525-1455
          Facsimile: (901) 526-4084
          E-mail: jryder@harrisshelton.com
                  mrafferty@harrisshelton.com

The Appellee is represented by:

          Daniel H. Slate, Esq.
          BUCHALTER NEMER, PC
          1000 Wilshire Boulevard, Suite 1500
          Los Angeles, CA 90017-1730
          Telephone: (213) 891-0700
          Facsimile: (213) 896-0400
          E-mail: dslate@buchalter.com

               - and -

          Mark Warren Bailey, Jr., Esq.
          HUSCH BLACKWELL, LLP
          1661 International Drive, Suite 300
          Memphis, TN  38120
          Telephone: (901) 523-1123
          Facsimile: (901) 523-7472
          E-mail: mark.bailey@huschblackwell.com

A full-text copy of the December 1, 2014 Opinion is available at
http://bit.ly/13aoc8ffrom Leagle.com.

                    About Village Green I GP

Village Green I GP is the owner of the Village Green Apartments
located at 3450 Fescue Lane, Memphis, Tennessee.  The property is
a 314-unit apartment complex situated in the Hickory Hill
neighborhood of Memphis, Tennessee.  Village Green sought Chapter
11 protection (Bankr. W.D. Tenn. Case No. 10-24178) on April 16,
2010.  John L. Ryder, Esq., at Harris Shelton Hanover Walsh, PLLC,
in Memphis, Tenn., represents the single-asset real estate debtor.

The debtor estimated its assets and debts at less than $10 million
in its bankruptcy petition.  Fannie Mae is owed about $9.2
million.


VILLAGE GREEN: Fannie May Dispute Stays in Bankruptcy Court
-----------------------------------------------------------
Judge S. Thomas Anderson of the U.S. District Court for the
Western District of Tennessee denied, without prejudice, Fannie
Mae's motion to withdraw the bankruptcy reference in the lawsuit
captioned Federal National Mortgage Association, Movant v. Village
Green I, GP, a Nevada General Partnership, Respondent, Case No.
14-2311-STA-TMP.

The Court also denied Village Green I, GP's motion to dismiss as
moot Fannie Mae's motion to withdraw the bankruptcy reference.

In light of the current posture of the case, the Court holds that
it is unnecessary to decide Fannie Mae's Motion for Withdrawal at
this time.  When Fannie Mae filed its Motion for Withdrawal,
Fannie Mae acted out of a concern that Village Green would file a
second bankruptcy case and prevent Fannie Mae from exercising its
foreclosure rights, the District Court explains.

But at this point in the litigation, Judge Anderson says that the
the case is on appeal, and the District Court has entered a stay
pending the outcome of the appeal.  These new developments, which
occurred after Fannie Mae filed its Motion to Withdraw the
reference, have overtaken the case.  However, Judge Anderson
notes, should future proceedings in the case necessitate Fannie
Mae's filing of a second motion to withdraw the reference, Fannie
Mae may request appropriate relief at that time.

A full-text copy of the Order dated December 1, 2014, is available
at http://bit.ly/1x6NIaCfrom Leagle.com.

Movant Fannie Mae is represented by:

          Mark Warren Bailey, Jr., Esq.
          HUSCH BLACKWELL, LLP
          1661 International Drive, Suite 300
          Memphis, TN  38120
          Telephone: (901) 523-1123
          Facsimile: (901) 523-7472
          E-mail: mark.bailey@huschblackwell.com

Respondent Village Green is represented by:

          John L. Ryder, Esq.
          HARRIS SHELTON HANOVER WALSH, PLLC
          One Commerce Square
          40 Main St., Suite 2700
          Memphis, TN 38103-2555
          Telephone: (901) 525-1455
          Facsimile: (901) 526-4084
          E-mail: jryder@harrisshelton.com

                    About Village Green I GP

Village Green I GP is the owner of the Village Green Apartments
located at 3450 Fescue Lane, Memphis, Tennessee.  The property is
a 314-unit apartment complex situated in the Hickory Hill
neighborhood of Memphis, Tennessee.  Village Green sought Chapter
11 protection (Bankr. W.D. Tenn. Case No. 10-24178) on April 16,
2010.  John L. Ryder, Esq., at Harris Shelton Hanover Walsh, PLLC,
in Memphis, Tenn., represents the single-asset real estate debtor.

The debtor estimated its assets and debts at less than $10 million
in its bankruptcy petition.  Fannie Mae is owed about $9.2
million.


VISCOUNT SYSTEMS:  Geoffrey Arens Appointed as Director
-------------------------------------------------------
Pursuant to a Certificate of Designation, Preferences and Rights
of the Series A Convertible Redeemable Preferred Stock dated
June 5, 2012, as amended, the holders of Series A Convertible
Redeemable Preferred Stock have the right to appoint up to two
directors to the board of directors of the Company.  On Dec. 19,
2014, Mr. Geoffrey Arens was appointed as a director of the
Company by the A Share Holders pursuant to such provision in the
Certificate of Designation.  Mr. Arens was also granted 250,000
compensation warrants.

The warrants are exercisable to acquire a share of common stock of
the Company at an exercise price of $0.095 per share for a period
of five years from the date of issuance.  The warrants were issued
as compensation to a director of the Company.  The securities were
issued pursuant to the exemptions from registration under Rule 506
of Regulation D, promulgated under the United States Securities
Act of 1933.

                      About Viscount Systems

Burnaby, Canada-based Viscount Systems, Inc., is a manufacturer,
developer and service provider of access control security
products.

The Company's bank credit facility was suspended on December 30,
2011 due to the bank's assessment of the Company's financial
position.  Management has determined that the Company will need to
raise a minimum of C$500,000 by way of new debt or equity
financing to continue normal operations for the next twelve
months.  Management has been actively seeking new investors and
developing customer relationships, however a financing arrangement
has not yet completed.  Short-term loan financing is anticipated
from related parties, however there is no certainty that loans
will be available when required.  These factors raise substantial
doubt about the ability of the Company to continue operations as a
going concern.

Dale Matheson Carr-Hilton LaBonte LLP expressed substantial doubt
about the Company's ability to continue as a going concern, citing
that the Company has an accumulated deficit of C$11.67 million for
the year ended Dec. 31, 2013.  The Company requires additional
funds to meet its obligations and the costs of its operations.

The Company reported a net loss of C$3.08 million on
C$4.13 million of sales in 2013, compared with a net loss of
C$2.68 million on C$3.6 million of sales in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $2.14
million in total assets, $5.74 million in total liabilities and a
$3.59 million total stockholders' deficit.


VWR FUNDING: S&P Raises CCR to 'B+'; Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services raised its long-term corporate
credit rating on VWR Funding Inc. to 'B+' from 'B'.  At the same
time, S&P raised its senior secured issue-level rating to 'BB-'
from 'B+' and the senior unsecured issue-level rating to 'B' from
'B-'.  The '2' recovery rating on the senior secured debt and the
'5' recovery rating on the senior unsecured debt are unchanged.
The outlook is stable.

"VWR has a well-established position as one of the largest
distributors of laboratory supplies, with a global market share of
about 11% and a strong presence in North America and Europe," said
Standard & Poor's credit analyst Arthur Wong.  S&P believes its
global sourcing and distribution capabilities are beneficial, but
its large pharmaceutical industry and other customers have become
more price-sensitive.  Those factors support S&P's "satisfactory"
business risk assessment.

VWR faces competition from Thermo Fisher Scientific Inc., a larger
more vertically integrated global distributor, as well as numerous
regional and local companies.  These factors temper S&P's
assessment of VWR's competitive advantages, despite its ranking
number two in the U.S. market and number one in Europe.

VWR enjoys considerable economies of scale, which S&P believes
enhance its competitive position.  S&P also views its geographic
and end-market diversity favorably.  It provides a wide range of
products, serving customers in the bio-pharmaceutical, industrial,
education, and government sectors.  Chemicals and other
consumables account for over three-fourths of its revenue base,
providing for high recurring revenue streams.  These products
typically have higher margins and more stable demand than
instruments and other laboratory capital equipment.  VWR's overall
profit margins have been stable and above average for the broad
distribution industry.

The stable outlook reflects S&P's expectation that VWR will
continue to experience steady sales and earnings growth and
declining, though still high, leverage over the near term.

S&P could lower the rating if the company suffers significant
operational setbacks, such as weakened demand for laboratory
supplies due to deteriorating global research activity or
increased competition from rivals such as Thermo Fisher.  Such a
scenario could result in weaker-than-expected EBITDA generation
such that debt to EBITDA increased back to the 10.5x to 11x range.
This would occur if revenues declined by about 5% along with a 250
basis point margin compression.

S&P considers an upgrade to be unlikely over the next year, given
the presence of debt-like preferred stock in the capital structure
that keeps adjusted leverage very high.


WASHINGTON MUTUAL: Judge Approves $37MM Bankruptcy Settlement
-------------------------------------------------------------
Peg Brickley, writing for Daily Bankruptcy Review, reported that a
bankruptcy judge tied up a remaining loose end from the 2008
collapse of Washington Mutual Bank, endorsing a $37 million
settlement of the company's claims against its former leaders.

According to the report, Judge Mary Walrath signed off on the
settlement at a hearing in the U.S. Bankruptcy Court in
Wilmington, Del., where the failed thrift's corporate parent,
Washington Mutual Inc., took refuge in 2008.

                   About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on September 25, 2008, by
U.S. government regulators.  The next day, WaMu and its affiliate,
WMI Investment Corp., filed separate petitions for Chapter 11
relief (Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu
owns 100% of the equity in WMI Investment.


YARWAY CORP: Wants Court to Set March 18 as Claims Bar Date
-----------------------------------------------------------
Yarway Corporation asks the U.S. Bankruptcy Court for the District
of Delaware to set March 18, 2015, as deadline for creditors to
file proofs of claim.

The Debtor seeks to set the bar date to ensure that appropriate
notice is given to all potential creditors, both know and unknown,
and that it has accurate information regarding the university of
prepetition non-asbestos claims that may be asserted against it.

A hearing is set for Jan. 26, 2015, at 11:00 a.m. (ET) to consider
the Debtor's request.  Objections, if any, must be filed no later
than 4:00 p.m. (ET) on Jan. 6, 2015.

                   About Yarway Corporation

Yarway Corporation sought Chapter 11 protection (Bankr. D. Del.
Case No. 13-11025) on April 22, 2013, to deal with claims arising
from asbestos containing products it allegedly sold as early as
the 1920s.

Yarway was founded in 1908 by Robert Yarnall and Bernard Waring as
the Simplex Engineering Company and originally manufactured pipe
clamps, steam traps, valves and controls.  Based in Pennsylvania,
Yarway was a privately-owned company until 1986 when KeyStone
International, Inc. bought equity in the company.  Yarway became a
unit of Tyco International Ltd. when Tyco purchased KeyStone in
1997.

Yarway's asbestos-related liabilities derive from Yarway's (i)
purported use of asbestos-containing gaskets and packing,
manufactured by others, in its production of steam valves and
traps from the 1920s to 1970s, and (ii) alleged manufacture of
expansion joint packing that was allegedly made up of a compound
of Teflon and asbestos from the 1940s to the 1970s.

Over the past five years, about 10,021 new asbestos claims have
been asserted against Yarway, including 1,014 in Yarway's 2013
fiscal year ending March 31, 2013.

The Debtor estimated assets and debts in excess of $100 million as
of the Chapter 11 filing.

Attorneys at Cole, Schotz, Meisel, Forman & Leonard, P.A. and
Sidley Austin LLP serve as the Debtor's counsel in the Chapter 11
case.  Logan and Co. is the claims and notice agent.

On May 6, 2013, the U.S. Trustee for Region 3, appointed an
official committee of asbestos personal injury claimants.  The
Committee tapped Elihu Inselbuch, Esq. at Caplin & Drysdale,
Chartered, as lead bankruptcy counsel.


YELLOWSTONE MOUNTAIN: Blixseth Released From Jail
-------------------------------------------------
Patrick Fitzgerald, writing for The Wall Street Journal, reported
that real-estate developer Tim Blixseth is spending Christmas Eve
with his family after an appellate court ordered his release from
jail.  According to the report, citing Philip Stillman, Mr.
Blixseth's lawyer, Mr. Blixseth returned to his Washington state
home after the Ninth U.S. Circuit Court of Appeals ordered his
immediate release from a Montana jail.

                     About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


ZUERCHER TRUST: Court Converts Case to Chapter 7 Liquidation
------------------------------------------------------------
U.S. Bankruptcy Judge Hannah L. Blumenstiel on Dec. 18 entered an
order converting the Chapter 11 case of The Zuercher Trust of 1999
to one under Chapter 7 of the Bankruptcy Code.

The U.S. Trustee sought the conversion, stating that alleged cause
exists to convert the case to chapter 7 based upon inaccurate
reports, unpaid fees, administrative insolvency and the diminution
and delay resulting from the Chapter 11 trustee's pursuit of a
liquidating plan.

Allen Hyman, Esq., pro se, as a creditor in the case, joined the
U.S. Trustee's motion, stating that the Chapter 11 Trustee's
proceedings appear in conflict with the involuntary proceeding
regarding Monica Hujazi, personally.

Creditor Michael E. Grodsky also joined in the U.S. Trustee's
motion, saying that the Chapter 11 Trustee has submitted a plan
for reorganization that is not feasible by any means.

Secured Claimant Michael Joseph notes the case has been prolonged
and expensive, with little to show for all the expense and
efforts.

The Debtor and Monica Hujazi had submitted memorandum of points
and authorities in opposition to the U.S. Trustee's motion, noting
that the motion must be denied because Bayshore Property has
substantial positive value that must be preserved in the best
interests of the estate and any creditors.  Chapter 7, Peter
Kravitz, the duly appointed and acting Chapter 11 trustee of The
Zuercher Trust of 1999, also opposed the U.S. Trustee's motion.

                 About The Zuercher Trust of 1999

San Mateo, California-based The Zuercher Trust of 1999 filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 12-32747) on
Sept. 26, 2012.  Bankruptcy Judge Hannah L. Blumenstiel presides
over the case.  Derrick F. Coleman, Esq., at Coleman Frost LLP,
served as the Debtor's counsel.  The Debtor is now represented by
Bradley Kass, Esq., at Kass & Kass Law Offices.

The Debtor, a business trust, estimated assets and debts of
$10 million to $50 million.  The Debtor owns property in
621 S. Union Avenue, in Los Angeles.  The property is currently in
REAP for alleged city health code violations.

In its schedules, the Debtor disclosed $28,450,000 in total assets
and $12,084,015 in total liabilities.

The petition was signed by Monica H. Hujazi, trustee of the
Zuercher Trust.

As reported in the TCR on March 22, 2013, August B. Landis, Acting
U.S. Trustee for Region 17, obtained authorization from the U.S.
Bankruptcy Court to appoint Peter S. Kravitz as Chapter 11 Trustee
for The Zuercher Trust of 1999.  Steven T. Gubner, Esq., and
Richard D. Burstein, Esq., at Ezra Brutzkus Gubner LLP, represent
the Chapter 11 Trustee as bankruptcy counsel.

The Chapter 11 Trustee proposed a Plan of Liquidation which
provides for the liquidation of the Debtor's assets and
distribution of the Net Proceeds and other funds generated from
the liquidation of the Debtor's assets including the Liquidation
Claims to creditors in accordance with the Bankruptcy Code's
priority scheme.


ZUERCHER TRUST: Taps Matthew Sheridan to Valuate Bay Area Assets
----------------------------------------------------------------
Peter S. Kravitz, as acting Chapter 11 trustee for The Zuercher
Trust of 1999, is seeking permission to employ Matthew C. Sheridan
to provide retroactive valuations of the Debtor's real estate in
the San Francisco, Oakland, San Mateo and Hillsborough areas of
California (Bay Area Properties) in relation to the adversary
proceeding styled Kravitz v. Peninsula Commons, LLC, et al.,
effective Oct. 1, 2014, at the expense of the estate.

According to the Trustee, the services to be provided by Sheridan
will include, if necessary, expert testimony by declaration or at
trial.

To the best of the Trustee's knowledge, Mr. Sheridan is a
disinterested party and has the appropriate expertise needed to
analyze the Bay Area properties.

Mr. Sheridan's regular hourly rate is $150 per hour for expert
analysis and testimony.  Mr. Sheridan has not been paid a
retainer.

                 About The Zuercher Trust of 1999

San Mateo, California-based The Zuercher Trust of 1999 filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 12-32747) on
Sept. 26, 2012.  Bankruptcy Judge Hannah L. Blumenstiel presides
over the case.  Derrick F. Coleman, Esq., at Coleman Frost LLP,
served as the Debtor's counsel.  The Debtor is now represented by
Bradley Kass, Esq., at Kass & Kass Law Offices.

The Debtor, a business trust, estimated assets and debts of
$10 million to $50 million.  The Debtor owns property in
621 S. Union Avenue, in Los Angeles.  The property is currently in
REAP for alleged city health code violations.

In its schedules, the Debtor disclosed $28,450,000 in total assets
and $12,084,015 in total liabilities.

The petition was signed by Monica H. Hujazi, trustee of the
Zuercher Trust.

As reported in the TCR on March 22, 2013, August B. Landis, Acting
U.S. Trustee for Region 17, obtained authorization from the U.S.
Bankruptcy Court to appoint Peter S. Kravitz as Chapter 11 Trustee
for The Zuercher Trust of 1999.  Steven T. Gubner, Esq., and
Richard D. Burstein, Esq., at Ezra Brutzkus Gubner LLP, represent
the Chapter 11 Trustee as bankruptcy counsel.

The Chapter 11 Trustee proposed a Plan of Liquidation which
provides for the liquidation of the Debtor's assets and
distribution of the Net Proceeds and other funds generated from
the liquidation of the Debtor's assets including the Liquidation
Claims to creditors in accordance with the Bankruptcy Code's
priority scheme.


ZUERCHER TRUST: Taps Michael Abergel to Analyze LA Properties
-------------------------------------------------------------
Peter S. Kravitz, the acting Chapter 11 trustee for The Zuercher
Trust of 1999, is seeking permission to tap, effective Oct. 1,
2014, to provide retroactive valuations of three apartment
buildings owned by the Debtor located at 207 North Oxford, 621
South Union; and 1639-1645 North Alexandria, in Los Angeles,
California in relation to the adversary proceeding styled Kravitz
v. Peninsula Commons, LLC, et al., at the expense of the estate.

According to Trustee, the services to be provided by Mr. Abergel
will include, if necessary, expert testimony by declaration or at
trial.

To the best of the Trustee's knowledge, Mr. Abergel is a
disinterested party and has the appropriate expertise needed to
analyze the Debtor's Los Angeles Properties in order to render a
retroactive expert opinion on valuation as required by the estate.

              About The Zuercher Trust of 1999

San Mateo, California-based The Zuercher Trust of 1999 filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 12-32747) on
Sept. 26, 2012.  Bankruptcy Judge Hannah L. Blumenstiel presides
over the case.  Derrick F. Coleman, Esq., at Coleman Frost LLP,
served as the Debtor's counsel.  The Debtor is now represented by
Bradley Kass, Esq., at Kass & Kass Law Offices.

The Debtor, a business trust, estimated assets and debts of
$10 million to $50 million.  The Debtor owns property in
621 S. Union Avenue, in Los Angeles.  The property is currently in
REAP for alleged city health code violations.

In its schedules, the Debtor disclosed $28,450,000 in total assets
and $12,084,015 in total liabilities.

The petition was signed by Monica H. Hujazi, trustee of the
Zuercher Trust.

As reported in the TCR on March 22, 2013, August B. Landis, Acting
U.S. Trustee for Region 17, obtained authorization from the U.S.
Bankruptcy Court to appoint Peter S. Kravitz as Chapter 11 Trustee
for The Zuercher Trust of 1999.  Steven T. Gubner, Esq., and
Richard D. Burstein, Esq., at Ezra Brutzkus Gubner LLP, represent
the Chapter 11 Trustee as bankruptcy counsel.

The Chapter 11 Trustee proposed a Plan of Liquidation which
provides for the liquidation of the Debtor's assets and
distribution of the Net Proceeds and other funds generated from
the liquidation of the Debtor's assets including the Liquidation
Claims to creditors in accordance with the Bankruptcy Code's
priority scheme.


ZUERCHER TRUST: Trustee Taps Thomas Jeremiassen as Expert Witness
-----------------------------------------------------------------
Peter S. Kravitz, the acting Chapter 11 trustee for The Zuercher
Trust of 1999, applied for approval to employ Thomas P.
Jeremiassen as an expert to prepare an insolvency analysis for the
bankruptcy estate.

Mr. Jeremiassen will incorporate the opinions of real property
valuations of the Debtor's Bay Area Properties and Los Angeles
Properties provided by valuation experts employed by the trustee,
and working with accountants employed by the trustee to perform
his analysis of the Debtor's insolvency for the time periods
relevant to the adversary proceeding styled Kravitz v. Peninsula
Commons, LLC, et al., effective Oct. 1, 2014, at the expense of
the estate.  The services of Mr. Jeremiassen will include expert
testimony by declaration or at trial.

Mr. Jeremiassen's principal place of business is located at
Berkeley Research Group, 2049 Century Park East, Suite 2525, Los
Angeles, California, and his billing rate is $510 per hour.

To the best of the Trustee's knowledge, Mr. Jeremiassen is a
disinterested party and has the appropriate expertise needed to
conduct the analysis.

              About The Zuercher Trust of 1999

San Mateo, California-based The Zuercher Trust of 1999 filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 12-32747) on
Sept. 26, 2012.  Bankruptcy Judge Hannah L. Blumenstiel presides
over the case.  Derrick F. Coleman, Esq., at Coleman Frost LLP,
served as the Debtor's counsel.  The Debtor is now represented by
Bradley Kass, Esq., at Kass & Kass Law Offices.

The Debtor, a business trust, estimated assets and debts of
$10 million to $50 million.  The Debtor owns property in
621 S. Union Avenue, in Los Angeles.  The property is currently in
REAP for alleged city health code violations.

In its schedules, the Debtor disclosed $28,450,000 in total assets
and $12,084,015 in total liabilities.

The petition was signed by Monica H. Hujazi, trustee of the
Zuercher Trust.

As reported in the TCR on March 22, 2013, August B. Landis, Acting
U.S. Trustee for Region 17, obtained authorization from the U.S.
Bankruptcy Court to appoint Peter S. Kravitz as Chapter 11 Trustee
for The Zuercher Trust of 1999.  Steven T. Gubner, Esq., and
Richard D. Burstein, Esq., at Ezra Brutzkus Gubner LLP, represent
the Chapter 11 Trustee as bankruptcy counsel.

The Chapter 11 Trustee proposed a Plan of Liquidation which
provides for the liquidation of the Debtor's assets and
distribution of the Net Proceeds and other funds generated from
the liquidation of the Debtor's assets including the Liquidation
Claims to creditors in accordance with the Bankruptcy Code's
priority scheme.


ZYNEX INC: Obtains Forbearance From Senior Lender Until March 31
----------------------------------------------------------------
Zynex, Inc., received an executed forbearance agreement dated
effective as of Dec. 17, 2014, between Zynex, Inc., and Triumph
Community Bank, N.A., dba Triumph Healthcare Finance, its senior
secured lender, whereby Triumph agreed to forbear from the
exercise of its rights and remedies under the original loan
documents relating to Zynex's previously disclosed default under
such agreement until March 31, 2015, subject to the terms of the
Forbearance Agreement.

A copy of the Forbearance Agreement is available for free at:

                       http://is.gd/MXJLLQ

                             Zynex Inc.

Zynex, Inc., develops, manufactures and markets medical equipment.
The Lone Tree, Colorado-based Company offers electrotherapy
products for home use, cardiac monitoring apparatus for hospital
use, and EMG and EEG diagnostic devices for neurology clinic use.

The Company's balance sheet at Sept. 30, 2014, showed $9.57
million in total assets, $11.36 million in total liabilities, and
a stockholders' deficit of $1.79 million.

"As a result of the Company losses from operations, negative
operating cash flow, and limited liquidity, the Company's
independent registered public accounting firm's report on the
Company's consolidated financial statements as of and for the year
ended Dec. 31, 2013 includes an explanatory paragraph discussing
that these conditions raise substantial doubt about the Company's
ability to continue as a going concern," the Company stated in its
quarterly report for the period ended Sept. 30, 2014.


* Credit-Default Swaps Get New Look From Hedge Funds
----------------------------------------------------
Matt Wirz, Matt Jarzemsky and Tom McGinty, writing for Daily
Bankruptcy Review, reported that hedge-fund managers are putting a
new twist on credit-default swaps, using the contracts to fortify
bets on troubled companies.

According to the report, the swaps, which work like insurance
policies when companies default on bonds and loans, fell out of
favor after Wall Street's outsize bets on the swaps soured during
the financial crisis.  Now, investors are increasingly combining
credit-default-swaps trades with elements of activist investing to
push companies toward default in some cases and away in others,
the DBR report said.


* Teen Apparel Sector Significant Restructuring Inevitable
----------------------------------------------------------
Neil Stern at National Real Estate Investor reports that a
significant restructuring of the teen apparel sector is
inevitable, as news in the sector has been grim.

Investor says that Delia's and Naartjie Kids were liquidating; Wet
Seal is trading for pennies on the dollar, conducting its
relationship with lenders on a week-to-week basis and is
struggling to hang on; and Deb Shops has filed for Chapter 11
bankruptcy and is likely looking at liquidation come January.  The
report states that bigger names like Abercrombie & Fitch saw the
resignation of its long-time CEO amid continuing struggles,
Aeropostale faces double-digit comp store sales decreases and has
already closed more than 100 stores this year, with more closings
planned for next year, and American Eagle Outfitters is reporting
a 5% comp store sales decrease in the latest quarter.

According to Investor, teens have shifted their spending towards
fast fashion specialists like H&M and Forever 21, and the
continued expansion of Uniqlo and pending entry by Primark will
increase competition.


* BOND PRICING: For Week From December 22 to 26, 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    35.000     11/15/2016
Alpha Natural
  Resources Inc         ANR      6.000    30.500       6/1/2019
Alpha Natural
  Resources Inc         ANR      9.750    43.000      4/15/2018
Arch Coal Inc           ACI      7.000    32.000      6/15/2019
Arch Coal Inc           ACI      9.875    41.000      6/15/2019
B/E Aerospace Inc       BEAV     5.250   110.000       4/1/2022
BPZ Resources Inc       BPZ      8.500    31.000      10/1/2017
Black Elk Energy
  Offshore
  Operations LLC /
  Black Elk
  Finance Corp          BLELK   13.750    74.660      12/1/2015
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.320     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750     8.000       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    13.930     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     12.750    13.125      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      6.500    11.250       6/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      5.750    10.501      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.000    16.375     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.500     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    14.250       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    16.375     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    16.750     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    14.250       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      5.750    11.500      10/1/2017
Cal Dive
  International Inc     CDVI     5.000    10.250      7/15/2017
Champion
  Enterprises Inc       CHB      2.750     0.250      11/1/2037
Chassix Holdings Inc    CHASSX  10.000    11.750     12/15/2018
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    40.100     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    41.375     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    41.375     11/15/2017
Dendreon Corp           DNDN     2.875    59.000      1/15/2016
Endeavour
  International Corp    END     12.000    40.000       3/1/2018
Endeavour
  International Corp    END     12.000     3.250       6/1/2018
Endeavour
  International Corp    END      5.500     3.750      7/15/2016
Endeavour
  International Corp    END     12.000    42.000       3/1/2018
Endeavour
  International Corp    END     12.000    42.000       3/1/2018
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     9.250      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     4.800       2/1/2018
Exide Technologies      XIDE     8.625     3.946       2/1/2018
Exide Technologies      XIDE     8.625     3.946       2/1/2018
FBOP Corp               FBOPCP  10.000     2.000      1/15/2009
FairPoint
  Communications
  Inc/Old               FRP     13.125     1.879       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     0.427       5/1/2017
Gymboree Corp/The       GYMB     9.125    36.485      12/1/2018
James River Coal Co     JRCC    10.000     1.000       6/1/2018
James River Coal Co     JRCC    10.000     1.100       6/1/2018
Las Vegas Monorail Co   LASVMC   5.500     3.227      7/15/2019
Lehman Brothers
  Holdings Inc          LEH      5.000    12.375       2/7/2009
Lehman Brothers Inc     LEH      7.500     9.125       8/1/2026
MF Global Holdings Ltd  MF       6.250    31.250       8/8/2016
MF Global Holdings Ltd  MF       1.875    31.063       2/1/2016
MF Global Holdings Ltd  MF       3.375    31.000       8/1/2018
MModal Inc              MODL    10.750    10.125      8/15/2020
Molycorp Inc            MCP      6.000    29.853       9/1/2017
Molycorp Inc            MCP      3.250    36.750      6/15/2016
Molycorp Inc            MCP      5.500    28.000       2/1/2018
Momentive Performance
  Materials Inc         MOMENT  11.500     1.625      12/1/2016
NII Capital Corp        NIHD     7.625    16.000       4/1/2021
NII Capital Corp        NIHD    10.000    35.375      8/15/2016
OMX Timber Finance
  Investments II LLC    OMX      5.540    24.438      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     1.875     0.125     11/15/2024
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Quicksilver
  Resources Inc         KWK      7.125    10.125       4/1/2016
Quicksilver
  Resources Inc         KWK      9.125    26.000      8/15/2019
Quicksilver
  Resources Inc         KWK     11.000    24.500       7/1/2021
RAAM Global Energy Co   RAMGEN  12.500    40.125      10/1/2015
RadioShack Corp         RSH      6.750    15.250      5/15/2019
RadioShack Corp         RSH      6.750    16.000      5/15/2019
RadioShack Corp         RSH      6.750    16.000      5/15/2019
Sabine Oil & Gas LLC /
  Sabine Oil & Gas
  Finance Corp          NFREGY   9.750    52.000      2/15/2017
Saratoga
  Resources Inc         SARA    12.500    36.750       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    10.375      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    18.063       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     8.000      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     9.125      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    17.500       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     9.000      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     8.875      11/1/2016
Textron Inc             TXT      6.200   100.490      3/15/2015
Tunica-Biloxi
  Gaming Authority      PAGON    9.000    65.250     11/15/2015
Walter Energy Inc       WLT      9.875    20.895     12/15/2020
Walter Energy Inc       WLT      8.500    20.000      4/15/2021
Walter Energy Inc       WLT      9.875    20.625     12/15/2020
Walter Energy Inc       WLT      9.875    20.625     12/15/2020
Western Express Inc     WSTEXP  12.500    89.250      4/15/2015
Western Express Inc     WSTEXP  12.500    92.250      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 ***