TCR_Public/150112.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, January 12, 2015, Vol. 19, No. 12

                            Headlines

1467 BEDFORD: Voluntary Chapter 11 Case Summary
22ND CENTURY: Supplements 300,000 Common Shares Prospectus
ADAMIS PHARMACEUTICALS: Selling 2 Million Common Shares
ADVANSTAR INC: S&P Withdraws 'B' CCR over Debt Repayment
ALSIP ACQUISITION: Has Final Loan Approval Pending Paper Mill Sale

AMERICAN AIRLINES: Pilot Union Leaders to Put Contract to a Vote
AMERICAN POWER: Spring Mountain Reports 32.9% Stake
AMERICAN SPECTRUM: Receives NYSE MKT Listing Non-Compliance Notice
AMINCOR INC: To Issue Convertible Notes to President and CFO
AMPLIPHI BIOSCIENCES: Plans to Up-List to Major Stock Exchange

ARCHDIOCESE OF ST. PAUL-MINNEAPOLIS: Considers Bankruptcy
ASCENSUS INC: Moody's Affirms B2 CFR & B1 1st Lien Loan Rating
ASCENSUS INC: S&P Affirms B CCR & Cuts 1st Lien Loans Rating to B
BALMORAL RACING: Has Until January 28 to File Schedules
BALMORAL RACING: Meeting of Creditors Set for Feb. 4

BALMORAL RACING: Must File Chapter 11 Plan by April 23
BALMORAL RACING: To Fight $82MM Penalty Over Bribery Scheme
BEHRINGER HARVARD: Managing Trustee's CEO and President Resigns
BERRY PLASTICS: Appoints Stephen Sterrett to Board of Directors
BIOLIFE SOLUTIONS: Products Adopted in Medicine Clinical Trials

BLUE RAIN LLC: Involuntary Chapter 11 Case Summary
BODY CENTRAL: Could File for Bankruptcy Soon
BODY CENTRAL: Hires Foley & Lardner as Restructuring Lawyers
BOOMERANG SYSTEMS: Gets $7-Mil. Commitment for Additional Loans
BOYD GAMING: Bank Debt Trades at 2% Off

BROWNIE'S MARINE: Alexander Purdon Reports 14.1% Equity Stake
CAESARS ENTERTAINMENT: 19 Institutions Approve Amended RSA
CAESARS ENTERTAINMENT: Amends Restructuring Support Pact Terms
CAESARS ENTERTAINMENT: Restructuring Agreement Takes Effect
CAESARS ENTERTAINMENT: Restructuring Support Pact Takes Effect

CASH STORE: Gets a No-Action Letter from Competition Bureau
CENTAUR LLC: Suit Against Burroughs & Hicks Stays in Delaware
COMPOSITE TECHNOLOGY: Registration of Securities Revoked
CONNACHER OIL: S&P Lowers CCR to 'CC' on Weak Cash Flow
CROSSFOOT ENERGY: Can Access Bank's Cash Collateral Until Jan. 23

CTI BIOPHARMA: Approves $1.2 Million 2014 Executive Bonuses
CTI BIOPHARMA: Eagle Asset Mgmt. Has 7.2% Stake as of Dec. 31
CUI GLOBAL: Robert Evans Quits as Director
DATAPIPE INC: Moody's Affirms B3 CFR & Rates 1st  Lien Loans B2
DAYBREAK OIL: Incurs $167,500 Net loss in Third Quarter

DEB STORES: Gordon, Hilco Begin Going-Out-of-Business Sales
DELIA*S INC: Gets Final Approval to Continue GOB Sales
DENDREON CORP: Committee Taps Centerview as Investment Banker
DENDREON CORP: Committee Taps Deloitte FAS as Financial Advisor
DEWEY & LEBOEUF: Denied $4.7 Million as Excessive Fee Request

DIRECT ACCESS: Venezuelan Bank Barred From Filing Late Claim
DOVER DOWNS: No Executive Bonuses for 2014
DOW CORNING: Implant Liability Slashed by $1.3 Billion
DR. TATTOFF: Andrew M. Heller Holds 17.2% Stake as of Jan. 7
EAT AT JOE'S: Extinguishes $11 Million in Debt

EAT AT JOE'S: Sells 4 Million Restricted Shares for $1.6-Mil.
ECOTALITY INC: Confirmation Order Resolves Plan Objections
EDENOR SA: Informs Market on 2013 Annual Report Filing
ELBIT IMAGING: Shareholders Re-Elect Elina Ronen to Board
EMPIRE RESORTS: Signs Standby Agreement with Kien Huatt

ENERGY FUTURE: Court to Establish "Unmanifested" Claims Bar Date
ENERGY TRANSFER: Bank Debt Trades at 5% Off
ERF WIRELESS: Issues 19.1 Million Common Shares
EXIDE TECHNOLOGIES: Tort Claimants Object to Disclosure Statement
FIRST FINANCIAL: Merges with Community Bank of Indiana

FORTESCUE METALS: Bank Debt Trades at 10% Off
FOUNDATION HEALTHCARE: Board Okays 1-for-10 Reverse Stock Split
FREEDOM INDUSTRIES: Executives Charged in Spill Plead Not Guilty
FREESEAS INC: Issues $500,000 Convertible Notes to Himmil
GATES GROUP: Bank Debt Trades at 3% Off

GETTY IMAGES: Bank Debt Due October 2019 Trades at 9% Off
GOLDEN LAND: Gregory Messer Named as Chapter 11 Trustee
HOLLY HILL: Asks Court to Extend Deadline to Remove Suits
HUB INTERNATIONAL: Bank Debt Trades at 3% Off
HUTCHESON MEDICAL: Files Schedules & Statements

IMH FINANCIAL: Obtains $5-Mil. Credit Facility From SRE Monarch
IMPAX LABS: FDA Approval of Rytary No Impact on Moody's B1 Rating
INNER CITY: Case Dismissed, GCG, Inc.'s Services Terminated
INTERLEUKIN GENETICS: Pyxis Reports 21.8% Stake as of Dec. 23
ISTAR FINANCIAL: BlackRock Owns 11.4% Stake at Dec. 31

JAMES RIVER: Can Tap Great American as Independent Sales Consultant
JB VEGA CORPORATION: Voluntary Chapter 11 Case Summary
JEFFREY POTTER: Dismissal of Legal Malpractice Case Upheld
KIOR INC: Jan. 23 Hearing on Disclosure Statement Approval
KIOR INC: Terminates Employee Stock Purchase Plan

LAKESIDE 370: Disclosure Statement Hearing Set for Jan. 26
LIBERTY HARBOR: Files 2nd Amended Chap. 11 Plan
LIBERTY TIRE: S&P Lowers CCR to 'CCC-' & Puts Rating on Watch Neg.
LPATH INC: Franklin Resources Reports 10.8% Stake as of Dec. 31
MACKEYSER HOLDINGS: Gets Approval to Sell Eyewear Inventory

MACKEYSER HOLDINGS: Gets Approval to Settle Essilor's Claims
MARCUS ENTERPRISES: Files for Chapter 11 Bankruptcy Protection
MGM RESORTS: Bank Debt Trades at 3% Off
MIRION TECHNOLOGIES: S&P Affirms 'B' CCR; Outlook Stable
MORRIS BROWN: Plan Has $10.5 Million for AME Church

MOUNTAIN PROVINCE: $370MM Facility to be Approved "Shortly"
MURRAY ENERGY: Bank Debt Trades at 4% Off
NEIMAN MARCUS: Bank Debt Trades at 3% Off
NEPHROS INC: Appoints Paul Mieyal Acting President, CEO and CFO
NEW LIFE PHYSICIANS: Case Summary & 20 Top Unsecured Creditors

NEW TOWNE CENTER: Case Summary & 4 Largest Unsecured Creditors
NII HOLDINGS: Wants Plan Exclusivity Extended to May 13
NNN 1818 MARKET STREET: Sovereign Says Trophy Asset Still Solid
NUVILEX INC: Changes Name to PharmaCyte Biotech
OW BUNKER: US Businesses Say Chimbusco Failed to Pay Fuel Order

OXFORD RESOURCE: Westmoreland Completes Oxford Transactions
PETROHUNTER ENERGY: Oklahoma Judge Rules on Ownership Dispute
PHILIP RUBEN: 7th Cir. Affirms Ruling on Fraud Debt Discharge
PHOTOMEDEX INC: Goldman Capital Holds 5% Stake as of Dec. 31
PHOTOMEDEX INC: Registers 967,500 Shares for Resale

PLASTIC2OIL INC: Signs Processor Agreements with EcoNavigation
POSITIVEID CORP: Hikes Authorized Conv. Pref. Shares to 2,500
PRESIDIO HOLDINGS: Moody's Assigns B2 Corporate Family Rating
QUALITY DISTRIBUTION: Eagle Asset Has 3.6% Stake as of Dec. 31
QUEEN ELIZABETH: Plan Proposes to Fully Pay Unsecured Creditors

QUEST SOLUTION: Secures $8MM Line of Credit From Wells Fargo Bank
QUICKSILVER RESOURCES: To Trade on OTC Marketplace Under "KWKA"
REDPRAIRIE CORP: Bank Debt Trades at 7% Off
RESOLUTE ENERGY: Moody's Cuts Sr. Unsecured Notes Rating to Caa2
REVEL AC: Inks Tax Settlement with Atlantic City

ROBERT JOHNSON: Judge Rules on Ex-Business Partner's Claim
SABINE OIL: Appoints Chief Financial Officer
SAMMY WOOTEN: Trustee's Fee Was Properly Cut to $5,000
SEADRILL LTD: Bank Debt Trades at 25% Off
SEARS METHODIST: Goes to Auction on Four Facilities in January

SEQUENOM INC: Vanguard Group Ups Equity Stake to 10% as of Dec. 31
SHELBYVILLE ROAD: Not Entitled to Deposit, 6th Cir. Says
SNO MOUNTAIN: Gets Court Approval to Settle ACI Claim
SOLAR POWER: Acquires 100% Equity Interest in Xinte RMB206-Mil.
STEVEN WEGNER: May Continue Using Cash; Maine Restaurant Closed

STONEWALL GAS: Moody's Assigns 'B3' CFR & Rates $350MM Loan 'B3'
STUART WEITZMAN: S&P Puts 'B' CCR on CreditWatch Positive
TARGETED MEDICAL: Giffoni No Longer Serving as EVP Foreign Sales
TERESA GIUDICE: "Real Housewife" Reports to Prison
THINK3 INC: Lawsuit Against D&Os Stay in Texas Bankr. Court

TOYS R US: Holiday Period Same-Store Sales Fall
TRANSGENOMIC INC: Issues $750,000 Convertible Promissory Note
TRI-STATE FINANCIAL: Judge Hastings Won't Recuse Self
TRI-VALLEY CORP: Court Rejects Clawback Suit Against DMJ Gas
TRIPLE S TIRE: Case Summary & 20 Largest Unsecured Creditors

TRUMP ENTERTAINMENT: New Loan Requires Plan Approval by March
TRUSTEES OF CONNEAUT LAKE: Has Until Jan. 30 to Report Finances
TURF LLC: Files for Chapter 11 Bankruptcy Protection
UNITEK GLOBAL: Plan Confirmed; Sees Mid-January Bankr. Exit
UNIVAR N.V.: Bank Debt Trades at 4% Off

UNIVERSAL ACADEMY: S&P Affirms 'BB-' Rating on 2014 Bonds
UNIVERSAL COOPERATIVES: Committee Seeks Approval to Sue Officers
UNIVERSAL COOPERATIVES: Has Until Feb. 9 to Remove Lawsuits
VERSO PAPER: Completes Acquisition of Newpage
VERSO PAPER: Maine Judge Dismisses Workers' Suit

VERSO PAPER: S&P Lowers CCR to 'SD' on Debt Exchange
VIRGIN MEDIA: Bank Debt Trades at 2% Off
VUZIX CORP: June 2014 Noteholders Waive Anti-Dilution Protection
WASCO INC: Asks for OK to Obtain $2.5MM Financing From Kingston
WBH ENERGY: Files for Chapter 11 Bankruptcy Protection

WEST CORP: To Divest Agent Services Businesses for $275 Million
WEST TEXAS GUAR: Amended Plan Declared Effective
WESTMORELAND COAL: Closes Oxford Deals, Acquires Buckingham Coal
WESTMORELAND COAL: Plans to Raise $50 Million Term Loan
WET SEAL: Could File for Bankruptcy; 338 Stores Closing

WET SEAL: Hudson Forbearance to Expire Today
WET SEAL: Raises Annual Base Salary of CFO Hillebrandt
WISE METALS: Moody's Confirms B3 Corp Family Rating, Outlook Neg
XRPRO SCIENCES: Sells 1.2 Million Units for $8.8 Million
Z TRIM HOLDINGS: Edward Smith Has 62.1% Stake as of Jan. 8

[*] 2014 Had Fewest Public Company Bankruptcies in 30 Years
[*] Former Federal Prosecutor to Join Debevoise & Plimpton
[*] Two More Colorado Foreclosure Law Firms Charged with Fraud
[^] BOND PRICING: For The Week From January 5 to 9, 2015

                            *********

1467 BEDFORD: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 1467 Bedford Avenue LLC
        1467 Bedford Avenue
        Brooklyn, NY 11216

Case No.: 15-40068

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 8, 2015

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

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: Julio E. Portilla, Esq.
                  LAW OFFICE OF JULIO E. PORTILLA, P.C.
                  111 Broadway, Suite 706
                  New York, NY 10006
                  Tel: (212) 365-0292
                  Fax: (212) 365-4417
                  Email: jp@julioportillalaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kelvin Liles, member.

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


22ND CENTURY: Supplements 300,000 Common Shares Prospectus
----------------------------------------------------------
22nd Century Group, Inc., filed with the U.S. Securities and
Exchange Commission a prospectus supplement dated Jan. 9, 2015, to
the prospectus dated June 5, 2014, filed as part of the Company's
effective registration statement on Form S-3 (SEC File No.
333-195386).  The prospectus supplement relates to the offer and
sale of up to 300,000 shares of the Company's common stock covered
by the registration statement.  The purpose of the supplement is
to, among other things, file a copy of Foley & Lardner LLP's
opinion.

"As counsel to the Company in connection with the proposed issuance
and sale of the Common Stock, we have examined: (i) the
Registration Statement, including the Prospectus, and the exhibits
(including those incorporated by reference) constituting a part of
the Registration Statement; (ii) the Company's Certificate of
Incorporation and Bylaws, each as amended to date; (iii) certain
resolutions of the Board of Directors of the Company relating to
the issuance of the Common Stock; and (iv) such other proceedings,
documents and records as we have deemed necessary to enable us to
render this opinion."

"Based upon the foregoing, we are of the opinion that the shares of
Common Stock offered by the Company under the Registration
Statement have been duly authorized, and when duly issued and
delivered against consideration therefor as provided in the
Prospectus, will be legally issued, fully paid and nonassessable,"
Foley & Lardner stated.

                        About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.

22nd Century reported a net loss of $26.2 million in 2013, a net
loss of $6.73 million in 2012 and a net loss of $1.34 million in
2011.

The Company's balance sheet at Sept. 30, 2014, showed $26.7 million
in total assets, $6.56 million in total liabilities, and $20.1
million in total shareholders' equity.


ADAMIS PHARMACEUTICALS: Selling 2 Million Common Shares
-------------------------------------------------------
Adamis Pharmaceuticals entered into an underwriting agreement with
Oppenheimer & Co. Inc., as representative for the several
underwriters, pursuant to which the Company agreed to issue and
sell to the Underwriters an aggregate of 2,000,000 shares of common
stock, $0.0001 par value per share, of the Company.  The Shares are
being offered and sold to the public at a public offering price of
$5.00 per share.

The company expects to grant the underwriters of the offering an
option to purchase additional shares of common stock to cover
over-allotments, if any.  The proposed offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.

After the underwriting discounts and commissions of 6% of the
public offering price and estimated offering expenses payable by
the Company, the Company expects to receive net proceeds of
approximately $9.2 million, assuming no exercise of the
Underwriters' over-allotment option.  If the Underwriters exercise
their over-allotment option in full, the Company expects to receive
net proceeds of approximately $10.6 million, after deducting the
underwriting discounts and commissions and estimated offering
expenses.  The Offering is expected to close on Jan. 14, 2015,
subject to satisfaction of customary closing conditions.

The company intends to use the net proceeds of the offering for
general corporate purposes, which include, without limitation,
hiring additional personnel and other expenditures relating to the
company's anticipated commercial launch of its Epinephrine PFS
syringe product (if the FDA grants marketing approval for the
product), research and development and clinical trial expenditures,
acquisitions of new technologies or products, the repayment,
refinancing, redemption or repurchase of future indebtedness or
capital stock and working capital.

                            About Adamis

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

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

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

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

                         Bankruptcy Warning

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


ADVANSTAR INC: S&P Withdraws 'B' CCR over Debt Repayment
--------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew all of its
ratings on New York-based Advanstar Inc., including the 'B'
corporate credit rating, at the company's request.  The withdrawals
follow the completion of UBM PLC's acquisition of Advanstar and the
payment of all Advanstar's outstanding debt.


ALSIP ACQUISITION: Has Final Loan Approval Pending Paper Mill Sale
------------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a bankruptcy judge in Delaware gave Alsip
Acquisition LLC final authority to obtain a $3.43 million
postpetition loan from Wells Fargo Bank NA to pay Chapter 11
expenses until its idled paper mill in Alsip, Illinois, is sold
this month.

According to the report, the bankruptcy loan expires after the
sale.  The loan authorization gives the creditors' committee until
March 3, 2015, for lodging an objection to the validity of Wells
Fargo's secured claim, the report related.

                    About Alsip Acquisition

Alsip Acquisition, LLC and APCA, LLC were the leading North
American provider of responsibly made recycled paper for books and
magazines, as well as for commercial printing and packaging
applications.  The operational and manufacturing headquarters are
located in Alsip, Illinois, and consist of a 40-year-old mill and
a
leased warehouse in Alsip, Illinois.  The mill and warehouse were
idled in September 2014 following cash losses.  Most of Alsip's
stock is owned by FutureMark Holdings, LLC.

On Nov. 20, 2014, Alsip Acquisition and APCA each filed petitions
seeking relief under chapter 11 of the United States Bankruptcy
Code.  The Debtors' cases have been assigned to Judge Kevin J.
Carey (KJC). The cases have been jointly administered, with
pleadings maintained on the case docket for Case No. 14-12596.

The Debtors have tapped Mintz Levin Cohn Ferris Glovsky and Popeo
PC as counsel and Pachulski Stang Ziehl & Jones as co-counsel.
Epiq Bankruptcy Solutions LLC is the claims and notice agent.

As of Oct. 31, 2014, the Debtors had $7.74 million of funded
indebtedness and related obligations outstanding.

The goal of the Debtors is to consummate the sale of the assets to
Resolute FP Illinois LLC pursuant to an asset purchase agreement
or
another bidder pursuant to the bid procedures.  In addition, the
Debtors intend to vacate their leased locations in Connecticut and
New Jersey, liquidate their other assets, and distribute any
proceeds pursuant to the claims process established by the
Bankruptcy Code.

The Official Committee of Unsecured Creditors is represented by
Maria Aprile Sawczuk, Esq., and Harold D. Israel, Esq., at
Goldstein & McClintlock LLLP.


AMERICAN AIRLINES: Pilot Union Leaders to Put Contract to a Vote
----------------------------------------------------------------
Susan Carey, writing for The Wall Street Journal, reported that the
board of the Allied Pilots Association union agreed to accept the
final contract proposal made in November by American Airlines Group
Inc., and put the deal out to a speedy membership ratification
vote.

According to the report, the union, which represents 10,000
American pilots and 5,000 US Airways aviators, had been under
pressure to accept the five-year pact or lose a big initial pay
increase.  And without union approval, contractual issues were
slated to go to arbitration in late February, with the parameters
already known and less generous than the deal that will now head to
electronic balloting later this month, the report related.

                     About American Airlines

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

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

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

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

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

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

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

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

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

                          *     *     *

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

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

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

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

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


AMERICAN POWER: Spring Mountain Reports 32.9% Stake
---------------------------------------------------
Each of Messrs. John L. Steffens and Gregory P. Ho by virtue of
acting as Managing Member of Spring Mountain GP and SMC LLC and as
partner of SMC EP, is the beneficial owner of 24,385,077 shares of
Common Stock (including 1,118,413 shares of Common Stock,
11,633,332 shares of Common Stock issuable upon conversion of
Preferred Stock beneficially owned by each of the respective SMC
Purchasers, and 11,633,332 shares of Common Stock issuable upon
exercise of Warrants beneficially owned by each of the respective
SMC Purchasers), of American Power Group Corporation representing
32.9 percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/T7uYMT

                     About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural Gas conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100 percent diesel fuel operation at any time.  The
proprietary technology seamlessly displaces up to 80% of the
normal diesel fuel consumption with the average displacement
ranging from 40 percent to 65 percent.  The energized fuel balance
is maintained with a proprietary read-only electronic controller
system ensuring the engines operate at original equipment
manufacturers' specified temperatures and pressures.  Installation
on a wide variety of engine models and end-market applications
require no engine modifications unlike the more expensive invasive
fuel-injected systems in the market.  Additional information at
http://www.americanpowergroupinc.com/

American Power reported a net loss available to common
stockholders of $3.25 million on $6.28 million of net sales for
the year ended Sept. 30, 2014, compared to a net loss available to
common stockholders of $2.92 million on $7.01 million of net sales
for the year ended Sept. 30, 2013.

As of Sept. 30, 2014, the Company had $8.52 million in total
assets, $5.49 million in total liabilities and $3.02 million in
total stockholders' equity.


AMERICAN SPECTRUM: Receives NYSE MKT Listing Non-Compliance Notice
------------------------------------------------------------------
American Spectrum Realty, Inc., a real estate investment management
and leasing company , on Jan. 8 disclosed that on January 2, 2015
it received notification from the New York Stock Exchange regarding
the Company's ongoing non-compliance with NYSE MKT LLC continued
listing standards.  Specifically, the Company is not in compliance
with NYSE MKT Company Guide Sections 134, 1003(a)(i), 1003(a)(ii),
1003(a)(iii), and 1101.  The Company's non-compliance is a result
of its failure to timely file with the Securities and Exchange
Commission its Form 10-Q Quarterly Reports for the periods ended
March 31, 2014, June 30, 2014 and September 30, 2014, and because
its stockholders' equity before noncontrolling interest, as
reported in its Annual Report on Form 10-K, remains below
compliance as of the year ended December 31, 2013.

Also within the notification, the Exchange accepted the Company's
December 12, 2014 plan of compliance that outlined the Company's
initiatives to cure its delinquent filing status pertaining to its
Form 10-Q Quarterly Reports for the periods ended March 31, 2014,
June 30, 2014 and September 30, 2014.  The Company's plan proposed
targeted filing dates of January 23, 2015, February 13, 2015 and
March 6, 2015, respectively.

With respect to the Company's deficiency in stockholders' equity
before noncontrolling interest, on Sept. 18, 2014, the Company
submitted to the Exchange a compliance plan, in part to remedy such
deficiency.  On November 10, 2014, the Exchange accepted the
Company's September 18, 2014 plan and granted an extension to fix
its deficiency in stockholders' equity before noncontrolling
interest by February 19, 2016.

The Exchange stipulated that the Company provide them with updates
in conjunction with its Sept. 18, 2014 plan and Dec. 12, 2014 plan
initiative milestones.  Additionally, the Exchange stated that they
would review the Company periodically for compliance with the
initiatives outlined in its Plans, and if the Company does not
adhere to its Plans or does not make progress consistent with its
Plans, the Exchange will initiate delisting proceedings as
appropriate.

Although there can be no assurances, the Company expects to regain
full compliance with the continued listing standards by Feb. 19,
2016.

              About American Spectrum Realty, Inc.

American Spectrum Realty, Inc. -- http://www.asrmanagement.com/--
is a real estate investment company that owns, through an operating
partnership, interests in office, industrial/commercial, retail,
self-storage, retail, multi-family properties and undeveloped land
throughout the United States.  American Spectrum Management Group,
Inc., a wholly-owned subsidiary of the Company, manages and leases
all properties owned by American Spectrum Realty, Inc. as well as
for third-party clients, totaling 7 million square feet in multiple
states.


AMINCOR INC: To Issue Convertible Notes to President and CFO
------------------------------------------------------------
In consideration of loans to Amincor Inc. in the amount of $58,000
by each of John R. Rice III its president and Joseph F. Ingrassia
its vice-president and interim chief financial officer, the Board
of Directors of the Company approved the issuance of a one year
convertible promissory note convertible into restricted shares of
the Company's Class A Common stock, par value .001 at a
conversion price of $.0225 per share to each of Mr. Rice and Mr.
Ingrassia.  Any Shares issuable upon conversion will not be
registered under the Securities Act of 1933, as amended and will be
restricted accordingly, the Company disclosed in a regulatory
filing with the U.S. Securities and Exchange Commission.

                         About Amincor Inc.

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

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

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

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

The Company's balance sheet at June 30, 2014, showed $25.8
million in total assets, $44.4 million in total liabilities, and a
$18.6 million total deficit.

                          Bankruptcy Warning

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


AMPLIPHI BIOSCIENCES: Plans to Up-List to Major Stock Exchange
--------------------------------------------------------------
AmpliPhi BioSciences Corporation provided an update to shareholders
during a teleconference on Jan. 5, 2015.  The update confirmed the
Company is on track to enter human clinical trials in the second
half of 2015 with an optimized bacteriophage product targeting
multi-drug resistant Staphylococcus aureus.  The Company further
reported it is preparing for an up-listing to a major stock
exchange.

During the shareholder call, Jeremy Curnock-Cook, Chairman and
Interim CEO said, "During 2014 AmpliPhi successfully re-established
its public reporting status with the SEC and as of last week
AmpliPhi's S-1 registration statement has been declared effective
by the SEC.  AmpliPhi believes that with the foundation of its
reporting status and strong investor base, the company is well
placed to embark on the up-listing process to a major stock
exchange in 2015."

Reflecting on the progress made in 2014 and the prospects for 2015,
Jeremy Curnock-Cook, Chairman and Interim CEO said,

"Over the course of 2014, AmpliPhi has made a number of significant
advancements in characterizing and optimizing its bacteriophage
based products to target current, clinically relevant multi-drug
resistant species of bacteria.  Ampliphi is well positioned to be
part of the solution to the urgent need for new treatments for
multi-drug resistant bacterial infections, a problem that claims at
least 50,000 lives per year in the EU and the US, with hundreds of
thousands of more dying in other areas of the world.

"With advances in all of our collaborations and a significant
investment in a GMP bacteriophage manufacturing facility, we are
well placed to begin our first human clinical studies in 2015.  I
believe AmpliPhi has established itself as the leading phage
company in the world, and am excited about the prospects for the
year ahead."

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

                        http://is.gd/0Uvvkr

                          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 $57.6 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 $28.4 million in total
assets, $17.08 million in total liabilities and $11.3 million in
total stockholders' equity.


ARCHDIOCESE OF ST. PAUL-MINNEAPOLIS: Considers Bankruptcy
---------------------------------------------------------
Tom Corrigan, writing for Daily Bankruptcy Review, reported that
three trials involving abusive priests from the Archdiocese of St.
Paul and Minneapolis are scheduled to begin Jan. 26, 2015,
increasing the likelihood that the archdiocese will file for
bankruptcy this month.

"As we have said many times before, all options for fairly
addressing sexual abuse claims remain on the table," Joseph
Kueppers, the archdiocese's chancellor for civil affairs, said in
an emailed statement, the DBR report said.


ASCENSUS INC: Moody's Affirms B2 CFR & B1 1st Lien Loan Rating
--------------------------------------------------------------
Moody's Investors Service affirmed Ascensus, Inc.'s corporate
family and probability of default ratings ("CFR" and "PDR",
respectively) of B2 and B2-PD, respectively. Moody's also affirmed
the first lien term loan and revolver ratings of B1 and the second
lien term loan rating of Caa1. The rating outlook remains stable.

In connection with the planned issuance of a $100 million dividend
to the owners, the first and second lien term loans will be upsized
to $270 million (add-on of $72 million) and $107 million (add-on of
$15 million), respectively.

Ratings Rationale

The B2 CFR reflects Moody's expectation that Ascensus' adjusted
debt to EBITDA will improve to about 5x by the end of 2017 from an
initial gross debt leverage of about 6x. Management has shown a
solid track record of executing and meeting their financial targets
in the past. For example, following the debt funded acquisition of
Upromise in December 2013, leverage has decreased to below 5 times.
Accordingly, Moody's believes Ascensus will be committed and
capable of reducing its leverage over the next several years back
to current levels through a combination of modest profit growth and
debt repayment.

Ascensus' rating also considers the small scale relative to larger
and financially stronger business services companies. Ascensus
generates lower profit margins and adjusted free cash flow (over
$20 million projected for 2015) than other transaction processing
and business services peers.

The rating is supported by an increasingly diverse business model,
albeit with potentially more earnings volatility with a greater
portion of revenues tied to asset performance. With the College
Savings business now providing about one-third of total revenues
(and a higher percentage of profits), Ascensus has diversified its
revenue stream into a similar processing market, where scale and
long-term contracts provide a basis for generally steady profits
and cash flow. Moody's expects Ascensus' cash flow to continue to
be supported by a highly recurring fee model and longstanding
relationships with financial institution partners.

The stable outlook reflects Moody's expectation of organic revenue
growth of mid single digits and operating margins in the low to mid
teens for 2015. Ascensus will likely benefit from a stable market
environment (a large and growing retirement asset and college
savings industry) and generally favorable trend of increasing
regulatory compliance and disclosure requirements.

The ratings could be upgraded if Ascensus achieves meaningful
organic revenue growth in the high single digits, free cash flow to
debt of 10%, and adjusted debt to EBITDA below 4 times on a
sustained basis with an expectation of disciplined financial
policies. Downward ratings pressure could arise if revenues decline
or debt to EBITDA exceeds 6 times for an extended period of time.

The following ratings were affirmed:

Corporate Family Rating -- B2

Probability of Default Rating -- B2-PD

1st Lien Revolver -- B1 (LGD3)

1st Lien Term Loan -- B1 (LGD3)

2nd Lien Term Loan -- Caa1 (LGD5)

The rating outlook is stable.

The principal methodology used in this rating was the Business &
Consumer Service Industry 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.

Ascensus, Inc. is a provider of retirement plan solutions,
including outsourced recordkeeping and administrative services to
defined contribution plans and IRAs, and 529 college savings plan
processing services. Moody's projects annual revenues of over $280
million for 2015. Ascensus is owned by J.C. Flowers & Co.



ASCENSUS INC: S&P Affirms B CCR & Cuts 1st Lien Loans Rating to B
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its issue-level
ratings on Pennsylvania-based Ascensus Inc.'s $285 million senior
secured first-lien credit facility (composed of a $15 million
revolver and a pro forma $270 first-lien term loan) to 'B' from
'B+', following a proposed add-on transaction that increases the
existing first-lien term loan by $72 million.  The proposed
transaction would have identical terms to the existing outstanding
term debt.  S&P revised the recovery rating on the first-lien debt
to '3' (indicating S&P's expectation of meaningful recovery
[50%-70%] in a payment default scenario) from '2'.

S&P also affirmed the 'CCC+' issue-level rating on the company's
$107 million secured second-lien debt, which includes a proposed
$15 million add-on.  The recovery rating on the second-lien debt is
'6', indicating S&P's expectation of negligible recovery (0%-10%)
in a payment default scenario.

S&P expects the company to use proceeds from the proposed
transaction, together with on-balance-sheet cash, to fund a
shareholder dividend.  As a result of the proposed transaction, S&P
estimates adjusted leverage increases to about 6x from slightly
below 5x prior to the proposed transaction and for the 12 months
ended Sept. 30, 2014.  S&P expects credit metrics will remain near
current levels and in line with indicative ratios, including
leverage above 5x, for the "highly leveraged" financial profile
over the next year, given S&P's expectation for relatively steady
operating performance and minimal debt reduction.  The business
risk profile remains "weak," based on the company's narrow product
focus in the competitive outsourced retirement plan, savings, and
administration services industry that could be susceptible to weak
economic conditions, and its limited geographic diversity.

S&P's 'B' corporate credit rating on the company remains unchanged.
The outlook is stable.

RATINGS LIST

Ascensus Inc.
Corporate credit rating           B/Stable/--

Ratings Lowered
                                   To             From
Ascensus Inc.
Senior secured
  $15 mil. revolver                B              B+
   Recovery rating                 3              2
  $270 mil. 1st-lien term loan     B              B+
   Recovery rating                 3              2



BALMORAL RACING: Has Until January 28 to File Schedules
-------------------------------------------------------
The Hon. Donald R. Cassling of the U.S. Bankruptcy Court for the
Northern District of Illinois granted Balmoral Racing Club Inc. and
Maywood Park Trotting Association Inc. until Jan. 28, 2015, to file
their schedules of assets and liabilities, and statements of
financial affairs.

                     About Balmoral Racing

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.  Alexander F Brougham, Esq., Chad H.
Gettleman, Esq., and Nathan Q. Rugg, Esq., at Adelman & Gettleman,
Ltd., serve as the Debtors' bankruptcy counsel.  Both cases were
consolidated on Dec. 31, 2014.


BALMORAL RACING: Meeting of Creditors Set for Feb. 4
----------------------------------------------------
The meeting of creditors of Balmoral Racing Club, Inc. is set to be
held on Feb. 4, 2015, at 1:30 p.m., according to a filing with the
U.S. Bankruptcy Court for the Northern District of Illinois.

The meeting will be held at the Office of the U.S. Trustee, Room
802, 8th Floor, 219 South Dearborn, in Chicago, Illinois.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                     About Balmoral Racing

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.

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: Must File Chapter 11 Plan by April 23
------------------------------------------------------
The Hon. Donald R. Cassling of the U.S. Bankruptcy Court for the
Northern District of Illinois ordered Balmoral Racing Club Inc. and
Maywood Park Trotting Association Inc. to file their Chapter 11
plan of reorganization and disclosure statement explaining that
plan by April 23, 2015.

                     About Balmoral Racing

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.  Alexander F Brougham, Esq., Chad H.
Gettleman, Esq., and Nathan Q. Rugg, Esq., at Adelman & Gettleman,
Ltd., serve as the Debtors' bankruptcy counsel.  Both cases were
consolidated on Dec. 31, 2014.


BALMORAL RACING: To Fight $82MM Penalty Over Bribery Scheme
-----------------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
lawyers who recently put the Balmoral Racing Club outside Chicago
into bankruptcy are preparing to fight the $82 million penalty that
hit the horse-racing operation over an alleged bribery scheme
involving disgraced ex-Illinois Gov. Rod Blagojevich.

According to the report, Balmoral Racing Club lawyers plan to
appeal the judgment from a lawsuit filed by the state’s four
largest riverboat casinos, which accused the racetrack’s owners
of illegally promising to contribute money to Mr. Blagojevich’s
campaign if he renewed a 3% tax on the riverboat casinos.

                     About Balmoral Racing

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.

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


BEHRINGER HARVARD: Managing Trustee's CEO and President Resigns
---------------------------------------------------------------
Michael J. O'Hanlon notified Behringer Harvard Short-Term
Opportunity Liquidating Trust's managing trustee, Behringer Harvard
Advisors II LP, of his decision to resign, effective immediately,
as the chief executive officer and president of the Managing
Trustee and all other officer positions with the Managing Trustee
and with the Trust's subsidiaries.  The Managing Trustee's general
partner appointed the Managing Trustee's Chairman, Robert S.
Aisner, to serve as Chairman, chief executive officer and president
effective Jan. 5, 2015, according to a regulatory filing with the
U.S. Securities and Exchange Commission.

                      About Behringer Harvard

Addison, Tex.-based Behringer Harvard is a limited partnership
formed in Texas on July 30, 2002.  The Company's general partners
are Behringer Harvard Advisors II LP and Robert M. Behringer.  As
of Sept. 30, 2011, seven of the twelve properties the Company
acquired remain in the Company's  portfolio.  The Company's
Agreement of Limited Partnership, as amended, provides that the
Company will continue in existence until the earlier of Dec. 31,
2017, or termination of the Partnership pursuant to the
dissolution and termination provisions of the Partnership
Agreement.

                         Plan of Liquidation

On Feb. 11, 2013, the Partnership completed its liquidation
pursuant to a Plan of Liquidation adopted by Behringer Harvard
Advisors II LP, as its general partner.  The Plan provided for the
formation of a liquidating trust, Behringer Harvard Short-Term
Opportunity Liquidating Trust for the purpose of completing the
liquidation of the assets of the Partnership.  In furtherance of
the Plan, the Partnership entered into a Liquidating Trust
Agreement with one of the Partnership's General Partners,
Behringer Advisors II, as managing trustee, and CSC Trust Company
of Delaware, as resident trustee.  As of the Effective Date, each
of the holders of limited partnership units in the Partnership
received a pro rata beneficial interest in the Liquidating Trust
in exchange for such holder's interest in the Partnership.  In
accordance with the Plan and the Liquidating Trust Agreement, the
Partnership has transferred all of its remaining assets and
liabilities to us to be administered, disposed of or provided for
in accordance with the terms and conditions set forth in the
Liquidating Trust Agreement.  The General Partners elected to
liquidate the Partnership and transfer its remaining assets and
liabilities to the Liquidating Trust as a cost saving alternative
that the General Partners believed to be in the best interests of
the investors.  The expenses associated with operating a public
reporting entity, like the Partnership, are comparatively high and
therefore detract from distributable proceeds and returns it can
make to its investors.  The reorganization into a liquidating
trust enables us to reduce costs associated with public reporting
obligations and related audit expenses that are not applicable to
the Liquidating Trust, helping to preserve capital throughout our
disposition phase for the benefit of our investors.  Cutting
expenses and maximizing investor returns is a primary focus in
this disposition phase.

The Company's principal demands for funds in the next twelve
months and beyond will be for the payment of operating expenses,
costs associated with lease-up and capital improvements for our
remaining operating property and for the payment of recurring debt
service, further principal paydowns and reserve requirements on
our outstanding indebtedness as required by our lenders.

The Liquidating Trust had notes payable totaling $40.7 million at
Dec. 31, 2013, of which $31 million was secured by the hotel
property and $8.8 million was to Behringer Harvard Holdings, LLC,
a related party.


BERRY PLASTICS: Appoints Stephen Sterrett to Board of Directors
---------------------------------------------------------------
Berry Plastics Group, Inc., has appointed Stephen E. (Steve)
Sterrett to its Board of Directors.  Mr. Sterrett will serve as the
Chairman of the Company's Audit Committee.  Mr. Sterrett replaces
David B. Heller who is stepping down, after serving on the
Company's Board since September 2012.

Mr. Sterrett most recently served as the senior executive vice
president and chief financial officer of Indianapolis-based Simon
Property Group, Inc., an S&P 100 company and the largest real
estate company in the world.  Mr. Sterrett joined the Simon
organization in 1988, was named the Treasurer in 1993, and was its
Chief Financial Officer from 2000-2014.  Mr. Sterrett retired as
Chief Financial Officer of Simon Property on Dec. 31, 2014.  During
his 14 years as CFO for Simon, Mr. Sterrett assisted the company in
completing over $35 billion of acquisitions, and in growing the
Company's revenues over tenfold to become the only real estate
company in the S&P 100 mega cap index today.  Prior to joining
Simon, he was a senior manager with the international accounting
firm of Price Waterhouse.

In addition, Mr. Sterrett was named as the number one ranked chief
financial officer in the real estate industry for the eight years
consecutively from 2007 to 2014 by Institutional Investor Magazine.
In 2012 he was inducted into the Academy of Fellows by the Kelley
School of Business at Indiana University, and in 2013 received the
Jeffrey Fisher Real Estate Legacy Award from Indiana University.

In October 2014, Mr. Sterrett was elected to the Board of Realty
Income.  He is active in several civic organizations, including
currently serving on the boards of the Greater Indianapolis Chamber
of Commerce, and the Indiana Golf Association and its Foundation.
He also currently serves on the board of the Indiana University
Center for Real Estate Studies and the Kelley School of Business
Dean's Council.  Mr. Sterrett is a former board member of Simon
Youth Foundation, Indianapolis Downtown Inc., Crossroads of America
Council Boy Scouts of America, Christian Theological Seminary
Goodwill Industries Foundation, Catholic Youth Organization, Geist
Christian Church, Lawrence Township Schools Foundation, Training
Inc., and of the Juvenile Diabetes Research Foundation.  Mr.
Sterrett holds a BS in accounting and an MBA in finance, both from
Indiana University.

"We are very pleased to welcome Steve to our Board of Directors,
and look forward to the contributions and insights he will offer as
we continue to pursue initiatives in support of our four-point
business strategy," said Jon Rich, Chairman and CEO of Berry
Plastics.  "At the same time, I extend our sincere appreciation to
David for his commitment to Berry Plastics during his tenure."

                        About Berry Plastics

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

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

As of Sept. 27, 2014, the Company had $5.26 billion in total
assets, $5.36 billion in total liabilities, $13 million in
redeemable noncontrolling interest, and a $114 million
stockholders' deficit.

                           *     *     *

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

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


BIOLIFE SOLUTIONS: Products Adopted in Medicine Clinical Trials
---------------------------------------------------------------
BioLife Solutions, Inc., provided an update on the adoption of its
HypoThermosol and CryoStor biopreservation media products in a
greatly increased number of customer clinical trials of novel
cellular immunotherapies and other cell-based approaches for
treating and possibly curing the leading causes of death and
disorders throughout the world.

In January 2014, management estimated that BioLife products were
incorporated into the storage, shipping, freezing, or clinical
administration processes and protocols of 100 regenerative medicine
clinical trials.  For the calendar year 2014, management estimates
that an additional 75 regenerative medicine clinical trials using
BioLife products were confirmed, bringing the total to 175.
Confirming and supporting information is sourced from customer
requests to cross reference BioLife's US FDA Master Files for
CryoStor and HypoThermosol in clinical trial applications, other
customer and distributor communications, and the
www.clinicaltrials.gov website.

Within the cellular immunotherapy segment of the regenerative
medicine market, BioLife's products are embedded in the
manufacturing, storage, and delivery processes of at least 75
clinical trials of chimeric antigen receptor T cells (CAR-T), T
cell receptor (TCR), dendritic cell (DC), tumor infiltrating
lymphocytes (TIL), and other T cell-based cellular therapeutics
targeting solid tumors, hematologic malignancies, and other
diseases and disorders.  A large majority of the currently active
private and publicly traded cellular immunotherapy companies are
BioLife customers.

The Roots Analysis market research report titled Dendritic Cell and
CAR-T Therapies, 2014 - 2024, published in November 2014, estimates
that the cellular immunotherapies market could grow to $4 billion
by 2024.  BioLife's addressable share of this market is attributed
to the demand for biopreservation media and controlled temperature
shipping containers.  The combined market caps for the leading pure
play publicly traded regenerative medicine companies, including
developers of cellular immunotherapies, recently exceeded $11
billion, with several successful IPOs, follow on offerings, and
strategic corporate investments.

The distribution of regenerative medicine clinical trials where
BioLife's biopreservation media are embedded, by phase of
development.

Mike Rice, BioLife President & CEO, remarked on the increased
adoption of CryoStor and HypoThermosol in the cellular
immunotherapy and broader regenerative medicine markets by stating,
"2014 was a pivotal year for BioLife, with expanded product
adoption by several very promising high profile and well-funded
regenerative medicine companies.  Nearly half of the clinical
trials sponsored by our customers using our biopreservation media
products to store, freeze, ship, and administer cells to patients
involve some type of T cell based immunotherapy."

Biopreservation, the science of ensuring survival and function of
cells, tissues, and organs once removed from the body, includes
reducing the temperature of these biologics to reduce metabolic
activity and the demand for oxygen and nutrients.  Hypothermic
storage and frozen storage enable delivery of temperature sensitive
biologics to patients throughout the world, with varying degrees of
success, based on the preservation efficacy of the storage or
freeze media, and functional performance of the shipping container
employed.  BioLife's clinical grade biopreservation media products
are engineered for low temperature preservation of cells and
tissues, and have been broadly adopted in numerous clinical
applications based on a large body of performance evidence
generated by customers, which supports extended stability (shelf
life) and improved yield (survival and functional recovery) of a
broad array of cells and tissues, as compared to the use of home
brew and other non-optimized formulations.

Rice continued, "We are very well positioned to participate in the
growth of the regenerative medicine market and the truly remarkable
cellular immunotherapy segment of oncology care.  BioLife is a
classic embedded technology story, with our biopreservation media
products part of our customer processes, and also with our new
biologistex cold chain management service, which can improve
logistics and monitoring shipments of high-value manufactured cell
products.  We've worked very hard to build this marquee customer
base in what could emerge as one of the largest growth
opportunities in the history of medical innovation and market
development."

                     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 $14.3 million in total
assets, $1.58 million in total liabilities, and $12.7 million in
total shareholders' equity.


BLUE RAIN LLC: Involuntary Chapter 11 Case Summary
--------------------------------------------------
Alleged Debtor: Blue Rain LLC
                44081 Pipeline Plaza, Suite 320
                Ashburn, VA 20147

Case Number: 15-10054

Involuntary Chapter 11 Petition Date: January 8, 2015

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Hon. Robert G. Mayer

Petitioners' Counsel: Robert J Flynn, Jr. Esq.
                      1629 K St., NW, #300
                      Washington, DC 20006
                      Tel: 202-463-0662

  Petitioners                Nature of Claim  Claim Amount
  -----------                ---------------  ------------
Robert Paul Gray             Loans              $50,000
43389 Deepspring Ct.
Ashburn, VA 20147

Tammy L. Gray                Loans              $50,000
43389 Deepspring Ct.
Ashburn, VA 20147

Robert J Flynn               Legal Advice          $675
1629 K St., NW, #306         and Research
Washington, DC 20006


BODY CENTRAL: Could File for Bankruptcy Soon
--------------------------------------------
People familiar with the matter said that Body Central Corp. is
preparing a bankruptcy filing, Bloomberg News reports.

Citing the sources, Bloomberg relates that the Company is working
with accounting and consulting firm Richter.  According to the
report, one source said that the Company is in negotiations to
procure additional financing.

As reported by the Troubled Company Reporter on Jan. 9, 2015, the
Company on Jan. 7, 2015, disclosed that it is experiencing
significant liquidity challenges and has taken several steps to
identify and evaluate potential strategic and financial
alternatives, which may include and are not limited to the
possibility of a Chapter 11 bankruptcy filing or an insolvency
proceeding.  

                   About Body Central Corp.

Founded in 1972, Body Central Corp. -- http://www.bodycentral.com/

-- is a multi-channel, specialty retailer offering on trend,
quality apparel and accessories at value prices.  As of January 6,
2015, the Company operated 265 specialty apparel stores in 28
states under the Body Central and Body Shop banners, as well as a
direct business comprised of a Body Central catalog and an
e-commerce website at www.bodycentral.com

The Company targets women in their late teens to mid-thirties from
diverse cultural backgrounds who seek the latest fashions and a
flattering fit.  The Company's stores feature an assortment of
tops, dresses, bottoms, jewelry, accessories and shoes sold
primarily under the Company's exclusive Body Central(R),
SexyStretch(R) and Lipstick Lingerie(R) labels.


BODY CENTRAL: Hires Foley & Lardner as Restructuring Lawyers
------------------------------------------------------------
Sara Randazzo and Stephanie Gleason, writing for Daily Bankruptcy
Review, reported that women's retailer Body Central Corp. has hired
Foley & Lardner LLP as restructuring lawyers as the company
prepares for a possible Chapter 11 filing.  According to the
report, citing two sources familiar with the matter, Foley &
Lardner has been hired to help Body Central restructure its debt.

Founded in 1972, Body Central Corp., a Delaware corporation, is a
multi-channel specialty retailer offering on-trend, quality
apparel and accessories at value prices.  The Company operates
specialty apparel stores under the Body Central and Body Shop
banners, as well as a direct business comprised of the Company's
Body Central catalog and its e-commerce Web sites at
http://www.bodycentral.com/and http://www.bodyc.com/


BOOMERANG SYSTEMS: Gets $7-Mil. Commitment for Additional Loans
---------------------------------------------------------------
Boomerang Systems, Inc., filed an amended current report to its
Form 8-K dated Dec. 24, 2014, in connection with the entry by the
Company and its subsidiaries into a Third Amendment to Loan and
Security Agreement dated as of June 6, 2013, with certain lenders
and the Agent.  The purpose of the Amended Report is to correct the
total amount of Lenders' Commitment to $14.9 million from $14.925
million.

Pursuant to the Amended Loan Agreement, the Lenders committed an
additional $7.05 million of loans to the Borrowers, increasing the
total amount of Lenders commitments to $14.9 million.  In addition,
the Amendment increased the maximum amount of commitments the
Borrowers could obtain under the Loan and Security Agreement to $15
million.

MRP Holdings LLC, an entity owned by Mark Patterson, the chief
executive officer and a director and principal stockholder of the
Company, increased its commitment as an affiliate lender by an
additional $200,000.  Parking Source, LLC, a principal stockholder
of the Company, increased its commitment as an affiliate lender by
an additional $1.6 million.  Albert Behler, a principal stockholder
of the Company, increased his commitment as an affiliate lender by
an additional $200,000.  In addition, Fox Hunt Wine Collectors,
LLC, an entity managed by Peter Mulvihill, brother of Chris
Mulvihill, the Company's president and a principal stockholder of
the Company, became an affiliated lender through a commitment of $1
million.

                      About Boomerang Systems

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

Boomerang Systems incurred a net loss of $11.2 million for the year
ended Sept. 30, 2013, following a net loss of $17.4 million
for the year ended Sept. 30, 2012.

As of June 30, 2014, the Company had $5.54 million in total
assets, $24.6 million in total liabilities, and a $19.02 million
stockholders' deficit.

                         Bankruptcy Warning

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


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 97.77 cents-on-the-
dollar during the week ended Friday, January 9, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.21
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.


BROWNIE'S MARINE: Alexander Purdon Reports 14.1% Equity Stake
-------------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Alexander Fraser Purdon disclosed that as of
Jan. 7, 2015, he beneficially owned 11,818,540 shares of common
stock of Brownie's Marine Group, Inc., representing 14.11 percent
of the shares outstanding.  The percentage of shares of Common
Stock is based upon 60,471,929 shares of the Company's Common Stock
outstanding as of Jan. 7, 2015.  A copy of the regulatory filing is
available for free at http://is.gd/bYasXT

                      About Brownie's Marine

Brownie's Marine Group, Inc., does business through its wholly
owned subsidiary, Trebor Industries, Inc., d/b/a Brownie's Third
Lung, a Florida corporation.  The Company designs, tests,
manufactures and distributes recreational hookah diving, yacht
based scuba air compressor and nitrox generation systems, and
scuba and water safety products.  BWMG sells its products both on
a wholesale and retail basis, and does so from its headquarters
and manufacturing facility in Fort Lauderdale, Florida.  The
Company's common stock is quoted on the OTC BB under the symbol
"BWMG".  The Company's Web site is
http://www.browniesmarinegroup.com/

Brownie's Marine reported a net loss of $788,286 in 2013, as
compared with a net loss of $2.01 million in 2012.

As of Sept. 30, 2014, the Company had $1.16 million in total
assets, $1.44 million in total liabilities, and a $285,000 total
stockholders' deficit.

                         Bankruptcy Warning

"During the fourth quarter of 2011, the Company formed a joint
venture with one dive entity, and in the first quarter of 2012,
purchased the assets of another, with assumption of their retail
location lease in Boca Raton, Florida.  The Company accomplished
both transactions predominantly through issuance of restricted
common stock in BWMG.  The Company believed these transactions
would help generate sufficient future working capital.  Neither
endeavor did or has generated profit or positive cash-flow.
Therefore, effective May 31, 2013, the Company closed and ceased
operations at its retail facility.  As a result, the Company does
not expect that existing cash flow will be sufficient to fund
presently anticipated operations beyond the fourth quarter of
2014.  This raises substantial doubt about BWMG's ability to
continue as a going concern.  The Company will need to raise
additional funds and is currently exploring alternative sources of
financing.  We have issued a number of convertible debentures as
an interim measure to finance our working capital needs.  We have
historically paid for many legal and consulting services with
restricted stock to maximize working capital.  We intend to
continue this practice in the future when possible.  We have
implemented some cost saving measures and will continue to explore
more to reduce operating expenses.

"If we fail to raise additional funds when needed, or do not have
sufficient cash flows from sales, we may be required to scale back
or cease operations, liquidate our assets and possibly seek
bankruptcy protection.  The accompanying consolidated financial
statements do not include any adjustments that may result from the
outcome of this uncertainty," the Company stated in the 10-Q.


CAESARS ENTERTAINMENT: 19 Institutions Approve Amended RSA
----------------------------------------------------------
Caesars Entertainment Corporation and its subsidiary Caesars
Entertainment Operating Company, Inc., announced that as of
Jan. 7, 2015, nineteen institutions who hold 53% 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 have signed the Amended and Restated Restructuring Support
and Forbearance Agreement, dated as of Dec. 31, 2014.

The advisors to certain of the Consenting Creditors have notified
Caesars Entertainment and CEOC that, subject to the closing of
certain purchases of additional First Lien Notes, the Consenting
Creditors will hold, in the aggregate, 55% of the First Lien Bond
Claims which will be subject to the RSA.

"We are pleased with the early support of our creditors as we move
forward in implementing our previously announced restructuring plan
to strengthen CEOC's financial condition and better position the
Company for future growth, investment and success," said Gary
Loveman, Chairman and chief executive officer of Caesars
Entertainment and Chairman of CEOC.

As announced on Dec. 19, 2014, CEOC reached an agreement with
CEOC's first lien noteholder steering committee regarding terms of
a financial restructuring plan, which would significantly reduce
long-term debt and annual interest payments, and result in a
stronger balance sheet for CEOC.  The restructuring support
agreement has been signed by all members of the first lien
noteholder steering committee.

The Company and its advisors continue to actively work with its
creditors to gain further support for the transaction.
Additionally, the advisors to certain of the Consenting Creditors
continue to make progress garnering support for the transaction.

                   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, $28.2 billion in total liabilities and a $3.71
billion total deficit.

                           *     *     *

In December 2014, Fitch Ratings downgraded the issuer default
rating of Caesars Entertainment Operating Company, Inc. ("CEOC") to
'C' from 'CC'; Moody's cut the ratings of CEOC, including the
corporate family rating, to 'Ca' from 'Caa3'; and Standard & Poor's
lowered its corporate credit rating to 'D' from 'CCC-' on CEOC.
The downgrades reflect CEOC's missed $223 million interest payment
to the holders of the 10% second lien notes that was due Dec. 15,
2014.



CAESARS ENTERTAINMENT: Amends Restructuring Support Pact Terms
--------------------------------------------------------------
Caesars Entertainment Corporation, Caesars Entertainment Operating
Company, Inc., a majority owned subsidiary of CEC, and certain
holders 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 amend the term sheet to the
Amended and Restated Restructuring Support and Forbearance
Agreement, dated as of Dec. 31, 2014, among CEC, CEOC and the
Consenting Creditors, which was previously filed by CEC and CEOC on
their Current Reports on Form 8-K, filed with the U.S. Securities
and Exchange Commission on Dec. 31, 2014.  

Pursuant to the Term Sheet Amendment, CEC agreed to pay all holders
of First Lien Notes that sign the RSA and become Consenting
Creditors on or prior to Jan. 12, 2015, at 5:00 p.m., New York City
time, for forbearing from exercising their default-related rights
and remedies, a fee in an amount equal to:

   (i) 1.625% of the First Lien Bond Claims held by those
       Consenting Creditors paid at the earlier of the date when
       (A) holders of 66.66% of the obligations under the First
       Lien Notes and obligations of CEOC under its credit
       agreement sign the RSA (or, in respect of the First Lien
       Bank Obligations, a similar restructuring support and
       forbearance agreement agreeable to CEOC and CEC) and (B)
       the bankruptcy court, in which chapter 11 cases regarding
       the restructuring of CEOC are commenced, enters an order
       approving the disclosure statement; and

  (ii) 1.625% of the First Lien Bond Claims held by those
       Consenting Creditors, paid when the restructuring closes.

In addition, the Term Sheet Amendment decreased the cash amount of
the recovery to the holders of the First Lien Notes from $413
million to $207 million.

A full-text copy of the Summary Term Sheet for Proposed
Restructuring is available for free at http://is.gd/9kXH5E

                   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, $28.2 billion in total liabilities and a $3.71
billion total deficit.

                           *     *     *

In December 2014, Fitch Ratings downgraded the issuer default
rating of Caesars Entertainment Operating Company, Inc. ("CEOC") to
'C' from 'CC'; Moody's cut the ratings of CEOC, including the
corporate family rating, to 'Ca' from 'Caa3'; and Standard & Poor's
lowered its corporate credit rating to 'D' from 'CCC-' on CEOC.
The downgrades reflect CEOC's missed $223 million interest payment
to the holders of the 10% second lien notes that was due Dec. 15,
2014.



CAESARS ENTERTAINMENT: Restructuring Agreement Takes Effect
-----------------------------------------------------------
Caesars Entertainment Corporation and its subsidiary Caesars
Entertainment Operating Company, Inc. on Jan. 9 disclosed that
holders of more than 60% 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 have signed the
Amended and Restated Restructuring Support and Forbearance
Agreement, dated as of December 31, 2014, among Caesars
Entertainment, CEOC and the Consenting Creditors.  As a result, the
RSA became effective pursuant to its terms as of Jan. 9, 2015.

Additionally, the advisors to certain of the Consenting Creditors
have notified CEC and CEOC that, subject to the closing of certain
purchases of additional First Lien Notes, which we have been
notified was scheduled to occur on Jan. 9, the Consenting Creditors
will hold, in the aggregate, over 67% of the First Lien Bond Claims
which shall be subject to the RSA.

"We are pleased to have the support of our first lien noteholders
on CEOC's restructuring plan.  This is an important step in the
process that will allow us to move ahead with our plan to create a
strong and sustainable capital structure for CEOC," said Gary
Loveman, Chairman and Chief Executive Officer of Caesars
Entertainment and Chairman of CEOC.

                  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: Restructuring Support Pact Takes Effect
--------------------------------------------------------------
Caesars Entertainment Corporation and its subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% 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 have signed the Amended and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, the RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Additionally, the advisors to certain of the Consenting Creditors
have notified CEC and CEOC that, subject to the closing of certain
purchases of additional First Lien Notes, which the Company has
been notified is scheduled to occur Jan. 9, 2015, the Consenting
Creditors will hold, in the aggregate, over 67% of the First Lien
Bond Claims which shall be subject to the RSA.

"We are pleased to have the support of our first lien noteholders
on CEOC's restructuring plan.  This is an important step in the
process that will allow us to move ahead with our plan to create a
strong and sustainable capital structure for CEOC," said Gary
Loveman, Chairman and chief executive officer of Caesars
Entertainment and Chairman of CEOC.

CEC, CEOC, and certain holders 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 amend and restate the Amended and Restated Restructuring Support
and Forbearance Agreement, dated as of Dec. 31, 2014, among CEC,
CEOC and the Consenting Creditors, which was previously filed by
CEC and CEOC on their Current Reports on Form 8-K, filed with the
Securities and Exchange Commission on Dec. 31, 2014.  Pursuant to
the Amendment, the RSA has been amended to provide that if a
Qualified Marketmaker, acting solely in its capacity as such,
acquires First Lien Notes or indebtedness under CEOC's credit
facility from an entity that is not a Consenting Creditor with
respect to such debt, such Qualified Marketmaker may transfer such
Qualified Unrestricted Claims without the requirement that the
transferee execute a Transfer Agreement, provided that any such
Qualified Marketmaker will otherwise still be subject to the terms
of the RSA with respect to the Qualified Unrestricted Claims
pending the completion of any such transfer.

                            Stock Awards

On Jan. 7, 2015, Caesars Entertainment Corporation made awards of
restricted stock units to certain employees, which awards are
designed to help retain these employees as the Company's
subsidiary, Caesars Entertainment Operating Company, Inc.,
continues its efforts to restructure.  The restricted stock units
vest 18 months after the date of grant, subject to continued
employment, and are otherwise on substantially the same terms as
the Company's previously awarded restricted stock units.  Timothy
Donovan, executive vice president, general counsel and chief
regulatory & compliance officer, and Eric Hession, executive vice
president and chief financial officer, received awards of 94,697
and 75,758 restricted stock units, respectively.

                   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, $28.2 billion in total liabilities and a $3.71
billion total deficit.

                           *     *     *

In December 2014, Fitch Ratings downgraded the issuer default
rating of Caesars Entertainment Operating Company, Inc. ("CEOC") to
'C' from 'CC'; Moody's cut the ratings of CEOC, including the
corporate family rating, to 'Ca' from 'Caa3'; and Standard & Poor's
lowered its corporate credit rating to 'D' from 'CCC-' on CEOC.
The downgrades reflect CEOC's missed $223 million interest payment
to the holders of the 10% second lien notes that was due Dec. 15,
2014.



CASH STORE: Gets a No-Action Letter from Competition Bureau
-----------------------------------------------------------
The Cash Store Financial Services Inc. announced that the Canadian
Competition Bureau has issued a No-Action Letter regarding the
binding agreement for Cash Store Financial to sell a portion of its
business and assets to National Money Mart Company, as announced on
Oct. 9, 2014.  This satisfies one of the conditions to closing the
Agreement.

The current expectation remains that the Transaction will be
completed in early 2015, following satisfaction of certain
customary closing conditions.  Cash Store Financial will continue
to provide updates as the Transaction is finalized.  In the
interim, the Company will continue to operate its business as
usual.

Further details regarding the Transaction, along with other details
regarding the Company's Companies' Creditors Arrangement Act
proceedings, are available on the Monitor's Web site at
http://cfcanada.fticonsulting.com/cashstorefinancial. Cash Store
Financial will continue to provide updates on its restructuring as
matters advance.

                       Default Status Report

Cash Store provided a default status report in accordance with the
alternative information guidelines in National Policy 12-203 Cease
Trade Orders for Continuous Disclosure Defaults.

On May 16, 2014, the Company announced that it was not able to file
an interim financial report and interim management's discussion and
analysis for the period ended March 31, 2014, together with the
related certifications of those interim filings by May 15, 2014,
the deadline prescribed by securities legislation.

Except as disclosed in previous press releases, there have been no
material changes to the information contained in the Default
Announcement or any other changes required to be disclosed by
National Policy 12-203.

The Company still intends to file the Continuous Disclosure
Documents as soon as is commercially reasonable, or as required by
the Ontario Superior Court of Justice (Commercial List) pursuant to
the Cash Store Financial's Companies' Creditors Arrangement Act
proceedings.

                    About Cash Store Financial

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

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

Cash Store Financial reported a net loss and comprehensive loss of
C$35.53 million for the year ended Sept. 30, 2013, as compared
with a net loss and comprehensive loss of C$43.5 million for the
year ended Sept. 30, 2012.  As of Sept. 30, 2013, the Company had
C$165 million in total assets, C$166 million in total
liabilities, and a C$1.32 million shareholders' deficit.


CENTAUR LLC: Suit Against Burroughs & Hicks Stays in Delaware
-------------------------------------------------------------
Bankruptcy Judge Kevin J. Carey denied the request of the
litigation trustee to re-transfer its lawsuit captioned, FTI
CONSULTING, INC., as Trustee to the Centaur, LLC Litigation Trust,
Plaintiff, v. MALVERN C. BURROUGHS AND THOMAS HICKS, Defendants,
Adv. Proc. No. 12-50436 (Bankr. D. Del.).

A copy of the Court's Jan. 5, 2015 Memorandum is available at
http://bit.ly/1FzauOffrom Leagle.com.

The lawsuit was filed Oct. 27, 2011, in the U.S. Bankruptcy Court
for the Southern District of Florida.  On Dec. 21, 2011, the
defendants moved to dismiss the Adversary Proceeding for improper
venue, or, alternatively, to transfer venue to the Delaware
Bankruptcy Court, in which the related chapter 11 proceedings were
administered.  After hearing, the Florida Court entered an order
transferring the Adversary Proceeding to this Court.

The Litigation Trustee has moved to re-transfer the Adversary
Proceeding back to the Florida Court.  The Defendants, arguing that
"frustration of purpose" is not one of the factors that the Court
should consider in deciding whether to retransfer a proceeding.

                       About Centaur LLC

Indianapolis, Indiana-based, Centaur, LLC, aka Centaur Indiana,
LLC -- http://www.centaurgaming.net/-- was involved in the
development and operation of entertainment venues focused on horse
racing and gaming.  The Company and its affiliates filed for
Chapter 11 bankruptcy protection (Bankr. D. Del. Case No.
10-10799).  
Jeffrey M. Schlerf, Esq., at Fox Rothschild LLP, assists the
Company in its restructuring effort.  The Company disclosed
assets of $584 million and debt of $681 million as of the
Petition Date.

Affiliates Centaur PA Land LP and Valley View Downs LP filed for
bankruptcy reorganization in October 2009 to keep alive a project
to develop a racetrack in Pennsylvania.  The filings were made
following the failure to make payments due in October on a
$382.5 million first-lien debt and a $192 million second-lien
credit.

All the companies are subsidiaries of closely held Centaur Inc.,
which isn't in bankruptcy.

Centaur LLC was authorized in August 2010 to sell the Fortune
Valley Hotel & Casino 40 miles west of Denver to Luna Gaming
Central City LLC for $7.5 million cash, plus a $2.5 million note.

The Debtor obtained approval of its reorganization plan at a
Feb. 18, 2011 confirmation hearing.  The Plan would slash the
casino operator's debt by two-thirds to $260 million.  The Plan,
as revised, is based on a settlement reached by the Debtors with
the Official Committee of Unsecured Creditors, the settlement was
entered among the Debtors, the Official Committee of Unsecured
Creditors, and Credit Suisse AG, Cayman Islands Branch, as
administrative agent and collateral agent for lenders that
provided first lien revolving credit and term loans prepetition.
Under the Plan, second-lien lenders are to split $3.4 million in
notes that pay in kind.  Unsecured creditors of Valley View Downs
now will receive the lesser of 50% paid in cash or a share of $1.5
million cash.  Other general unsecured creditors also will have
the lesser of half payment or sharing $650,000 in cash.

FTI Consulting, Inc., serves as Trustee to the Centaur LLC
Litigation Trust.


COMPOSITE TECHNOLOGY: Registration of Securities Revoked
--------------------------------------------------------
The Securities and Exchange Commission said the time for filing a
petition for review of the initial decision of the administrative
law judge revoking the registrations of the registered securities
of Composite Technology Corporation has expired. No petition has
been filed by Composite, and the Commission has not chosen to
review the decision on its own initiative.  Accordingly, the
initial decision of the administrative law judge has become the
final decision of the Commission.  The order contained in that
decision is now effective.

Composite is a revoked Nevada corporation located in Irvine,
California, with a class of securities registered with the
Commission pursuant to Exchange Act Section 12(g). Composite is
delinquent in its periodic filings with the Commission, having not
filed any periodic reports since it filed a Form 10-Q for the
period ended March 31, 2011, which reported a net loss from
continuing operations of $9,692,000 for the prior six months.

On April 10, 2011, Composite filed a Chapter 11 petition in the
U.S. Bankruptcy Court for the Central District of California, which
was still pending as of August 11, 2014. As of August 11, 2014, the
common stock of Composite was quoted on OTC Link.

                     About Composite Technology

Headquartered in Irvine, California, Composite Technology
Corporation (CTC) -- http://www.compositetechcorp.com/-- owned all
of the common stock of CTC Cable Corporation and Stribog, Inc.  CTC
Cable manufactured and marketed innovative energy efficient
renewable energy products for the electrical utility industry.
Stribog operated a wind turbine products business that was sold to
Daewoo Shipbuilding and Marine Engineering on Sept. 4, 2009, for
US$32.2 million in cash.  CTC Renewables is a dormant company.

Composite Technology filed for Chapter 11 bankruptcy (Bankr. C.D.
Calif. Case No. 11-15058) on April 10, 2011, with Judge Mark S.
Wallace presiding over the case.  The Debtor's bankruptcy case
was reassigned to Judge Scott C. Clarkson on April 13, 2011.  BCC
Advisory Services LLC, BCC Ho1dco LLC's FINRA registered
Broker/Dealer, serves as investment banker to provide exclusive
equity financing services and debt financing services.  Composite
Technology disclosed US$5,855,670 in assets and US$12,395,916 in
liabilities as of the Chapter 11 filing.

CTC Cable Corporation also filed for Chapter 11 (Bankr. C.D.
Calif. Case No. 11-15059) on April 10, 2011.  Stribog, Inc.
(Bankr. C.D. Calif. Case No. 11-15065) filed for Chapter 11
protection on April 11, 2011.  CTC Renewables Corp., a dormant
company (Bankr. C.D. Calif. Case No. 11-15130) filed for Chapter
11 protection on April 12, 2011.

The cases are jointly administered, with Composite Technology as
the lead case.  Garrick A. Hollander, Esq., Jeannie Kim, Esq.,
Kavita Gupta, Esq., Paul J. Couchot, Esq., and Richard H. Golubow,
Esq., at Winthrop Couchot PC, in Newport Beach, Calif.; and Sean
A. Okeefe, at Okeefe & Associates Law Corporation, in Newport
Beach, Calif., serve as the Debtors' bankruptcy counsel.

Peter C. Anderson, the U.S. Trustee for Region 16, appointed five
members to the official committee of unsecured creditors in the
Debtor's cases.  Celina M. Munoz, Esq., Emily Ma, Esq., Katherine
C. Piper, Esq., and Robbin L. Itkin, Esq., at Steptoe & Johnson
LLP, in Los Angeles, Calif., represents the Committee.

On Aug. 15, 2011, the Debtors closed on the sale of substantially
all assets of the Debtors' estates to CTC Acquisition Corp., a
Delaware corporation.  As a result of the sale, the Debtors no
longer operated their businesses and all of their employees either
resigned or were terminated, and most of them were employed by the
Buyer.  After the closing, the Debtors promptly moved to hire
Brian Weiss, as the CRO, to wind down the Debtors' business
affairs, including recovering money for the estate's creditors and
resolving disputes among the creditors.


CONNACHER OIL: S&P Lowers CCR to 'CC' on Weak Cash Flow
-------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Calgary, Alta.-based Connacher Oil And
Gas Ltd. to 'CC from 'CCC+'.  The outlook is negative.  At the same
time, Standard & Poor's lowered its issue-level rating on the
company's senior secured debt to 'CCC' from 'B'.  The '1' recovery
rating on the debt is unchanged, indicating S&P's expectation of
very high (90%-100%) recovery in our default scenario.

"The downgrade reflects our view of Connacher's very weak near-term
cash flow generation and rapidly deteriorating liquidity position,"
said Standard & Poor's credit analyst Michelle Dathorne. "Based on
our current hydrocarbon price assumptions (published Dec. 16, 2014,
on RatingsDirect), we believe the company will not have sufficient
liquidity to fully fund its financing charges and minimum
maintenance capital spending in the first half of 2015."

Standard & Poor's derives its 'CC' corporate credit rating on
Connacher from:

   -- Its "vulnerable" business risk and "highly leveraged"
      financial risk profile assessments of the company; and

   -- The application of its 'CCC' criteria in light of
      Connacher's diminishing liquidity position, negative
      forecast funds from operations, and weak profitability
      metrics, which S&P believes compromise the company's ongoing

      viability.

The ratings on Connacher reflect Standard & Poor's view of the
company's high full-cycle costs, weak profitability, and
overleveraged balance sheet.  Although S&P believes the very long
reserve life index inherent in its steam-assisted gravity drainage
(SAGD) resource base provides good visibility to long-term organic
reserves and production growth, Connacher's diminishing liquidity
and constrained access to external funding do not allow the company
to exploit the potential of these assets.

Connacher is an oil-sands-focused exploration and production
company producing bitumen using SAGD technology.  It holds a 100%
interest in approximately 98,000 acres of oil sands leases in the
Great Divide region near Fort McMurray, Alta.  The company's first
10,000 barrel-per-day (bbl/d) SAGD oil sands project (Pod 1)
commenced commercial production in March 2008, and its second
10,000 bbl/d SAGD project (Algar) began producing in August 2010.

The negative outlook reflects Standard & Poor's view that
Connacher's financial position is highly uncertain given its
constrained liquidity position.  In S&P's view, the company cannot
sustain its operations under its current crude oil price
assumptions for 2015.

Given Connacher's liquidity position, S&P believes a further
negative rating action could occur within the next 6 months.  This
could happen due to a near-term liquidity crisis, violation of
financial covenants, or the company's consideration of a distressed
exchange offer or redemption.

S&P does not believe Connacher's current SAGD operations, with a
total 20,000 bbl/d design capacity, will generate sufficient
internal cash flow to fund ongoing minimum maintenance spending
requirements.  A positive rating action remains contingent on the
company's ability to complete a transformative transaction.



CROSSFOOT ENERGY: Can Access Bank's Cash Collateral Until Jan. 23
-----------------------------------------------------------------
The Hon. Russell F. Nelms of the U.S. Bankruptcy Court for the
Northern District of Texas issued a first amended interim order
authorizing Crossfoot Energy LLC and its debtor-affiliates to use
cash collateral of Prosperity Bank, as successor-by-merger to The
F&M Bank & Trust Company, until Jan. 23, 2015, pursuant to a
budget.

A hearing is set for Jan. 23, 2015 at 10:30 a.m., Ft. Worth, to
consider final approval of the Debtors' cash collateral request.

The Debtors said their business operations require that they have
to use cash collateral to preserve the assets of their estate,
enable operations to continue, and prevent immediate and
irreparable harm to their business operations.

The Debtors said they promised and agreed to repay the bank all
amounts advanced thereunder, together with interest and other
amounts owing by them to the bank according to the terms of the
parties' loan agreement.  Under the agreement, the bank provided
the Debtor with a revolving loan in an initial maximum principal
amount of $20,000,000.  Additionally, the Debtors executed and
delivered to the bank:

  a) a revolving promissory noted dated Aug. 9, 2012, in the
     maximum principal amount of $20,000,000;

  b) a revolving promissory noted dated March 22, 2013, in the
     maximum principal amount of $20,000,000;

  c) a term promissory noted dated March 22, 2013, in the
     maximum amount of $700,000;

  d) a promissory note dated Aug. 29, 2014, in the maximum
     principal amount of $1,848,719; and

  e) a promissory noted dated Aug. 29, 2013, in the maximum
     amount of $618,000.

At the Debtors' request, the bank agreed to consolidate and restate
the notes as set forth in a consolidated and restated promissory
noted dated May 31, 2014, in the original principal amount of
$12,099,144.  The Debtors promised to pay the bank the amounts set
forth in the restated note.

As adequate protection, the Debtors granted the bank a
first-priority security interest in and lien on all personal
property including, without limitation, all accounts, chattel
paper, general intangibles, inventory, equipment, and fixtures, and
all proceeds.

A full-text copy of the cash collateral budget is available for
free at http://is.gd/uYHHL9

                      About CrossFoot Energy

Based in Fort Worth, Texas, with a field office in Midland, Texas,
CrossFoot Energy, LLC, and its affiliates operate an oil and gas
company focused on the acquisition and improvement of lower-risk,
long live proven reserves.  CrossFoot's primary production occurs
out of the Siluro-Devonian formation with significant additional
shallower reserves behind-pipe in the Spraberry, Wolfcamp, Strawn,
Penn Lime and Mississippian formations.

CrossFoot Energy, LLC, and its affiliates sought Chapter 11
protection (Bankr. N.D. Tex. Case No. 14-44668) in Ft. Worth, Texas
on Nov. 20, 2014.  The case is assigned to Judge Russell F. Nelms.
Jeff P. Prostok, Esq., at Forshey & Prostok, LLP, in Ft. Worth,
Texas, serves as counsel to the Debtors.

As of the Petition Date, secured creditor Prosperity Bank is owed
$12.1 million.


CTI BIOPHARMA: Approves $1.2 Million 2014 Executive Bonuses
-----------------------------------------------------------
The Compensation Committee of the Board of Directors of CTI
BioPharma Corp. approved fiscal year-end cash incentive awards for
2014 for each of the Company's named executive officers currently
employed with the Company, in each case based on the achievement of
certain 2014 goals and objectives of the Company and the
Committee's review and subjective assessment of the performance and
contributions of each of the named executive officers during 2014.


  Name and Principal Position                         Bonus
  ---------------------------                        --------
  James A. Bianco, M.D.                              $617,500
  President and Chief Executive Officer

  Louis A. Bianco                                    $234,000
  EVP, Finance and Administration

  Jack W. Singer, M.D.                               $175,750
  Interim CMO, and EVP, Global Medical
  Affairs and Translational Medicine

  Matthew Plunkett, Ph.D.                            $219,375
  EVP, Corporate Development

On Jan. 6, 2015, the Committee also approved new severance
agreements between the Company and each of Mr. Bianco, Dr. Singer
and Dr. Plunkett.

Each of the Severance Agreements provides for the executive to
receive severance if his employment is terminated by the Company
without cause or by the executive for good reason (as those terms
are defined in the Severance Agreements).  If such a termination
occurs, the executive will be entitled to cash severance equal to
the sum of (i) one and one-half times the executive's base salary
at the annualized rate in effect on his termination date, and (ii)
an amount equal to the greater of the average of his annual bonuses
for the last three years before the termination date and thirty
percent of the executive's base salary at the annualized rate in
effect on the termination date, such cash severance amount to be
paid in equal installments over 18 months following the termination
date.  For up to 18 months following the termination date, the
executive would also be entitled to reimbursement by the Company
for COBRA premiums for continued medical coverage for the executive
and his eligible dependents and continued payment by the Company of
premiums to maintain life insurance paid for by the Company at the
time of his termination.  In addition, the executive would be
entitled to accelerated vesting of all of his then-outstanding and
unvested stock-based awards granted by the Company.  In each case,
the executive's right to receive the severance benefits is
contingent on the executive's providing a general release of claims
in favor of the Company and complying with certain confidentiality
and other covenants under his agreements with the Company.  The
Severance Agreements do not provide for any tax gross-up payments.

                        About CTI BioPharma

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

Cell Therapeutics reported a net loss attributable to common
shareholders of $49.6 million in 2013, a net loss attributable to
common shareholders of $115 million in 2012 and a net loss
attributable to common shareholders of $121 million in 2011.

"We believe that our present financial resources (including the
$17.8 million we received in October 2014 under the Servier
Agreement), together with additional milestone payments projected
to be received under certain of our contractual agreements, our
ability to control costs and expected net contribution from
commercial operations in connection with PIXUVRI, will only be
sufficient to fund our operations into the third quarter of 2015.
This raises substantial doubt about our ability to continue as a
going concern," the Company disclosed in its quarterly report on
Form 10-Q for the period ended Sept. 30, 2014.


CTI BIOPHARMA: Eagle Asset Mgmt. Has 7.2% Stake as of Dec. 31
-------------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Eagle Asset Management, Inc., disclosed that as of Dec.
31, 2014, it beneficially owned 12,713,051 shares of common stock
of CTI BioPharma Corporation representing 7.20 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/MfJSqs

                        About CTI BioPharma

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

Cell Therapeutics reported a net loss attributable to common
shareholders of $49.6 million in 2013, a net loss attributable to
common shareholders of $115 million in 2012, and a net loss
attributable to common shareholders of $121 million in 2011.

"We believe that our present financial resources (including the
$17.8 million we received in October 2014 under the Servier
Agreement), together with additional milestone payments projected
to be received under certain of our contractual agreements, our
ability to control costs and expected net contribution from
commercial operations in connection with PIXUVRI, will only be
sufficient to fund our operations into the third quarter of 2015.
This raises substantial doubt about our ability to continue as a
going concern," the Company disclosed in its quarterly report on
Form 10-Q for the period ended Sept. 30, 2014.


CUI GLOBAL: Robert Evans Quits as Director
------------------------------------------
Robert J. Evans resigned as director and Audit Committee member of
CUI Global, Inc., effective Jan. 8, 2015, according to a regulatory
filing with the U.S. Securities and Exchange Commission.  No other
detail was disclosed regarding the departure.

                          About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

CUI Global reported a net loss allocable to common stockholders of
$1.75 million in 2013, a net loss allocable to common stockholders
of $2.52 million in 2012 and a net loss allocable to common
stockholders of $48,800 in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $98.2 million
in total assets, $26.6 million in total liabilities and $71.7
million in total stockholders' equity.


DATAPIPE INC: Moody's Affirms B3 CFR & Rates 1st  Lien Loans B2
---------------------------------------------------------------
Moody's Investors Service has affirmed Datapipe, Inc.'s B3
Corporate Family Rating (CFR) and B3-PD Probability of Default
Rating (PDR) along with the B2 rating on its senior secured 1st
lien credit facilities and Caa2 rating on its 2nd lien term loan,
following the company's announcement that it will raise an
incremental $23 million of 1st lien term loan debt for general
corporate purposes. The ratings are contingent on Moody's review of
final documentation and no material change in the terms and
conditions of the debt as advised to Moody's. The outlook remains
negative due to the company's high leverage, weak liquidity and the
execution risks associated with in-progress merger integration
work.

Affirmations:

Issuer: DataPipe, Inc.

Probability of Default Rating, Affirmed B3-PD

Corporate Family Rating, Affirmed B3

Senior Secured Bank Credit Facility Mar 15, 2019, Affirmed B2,
LGD3

Senior Secured Bank Credit Facility Mar 15, 2018, Affirmed B2,
LGD3

Senior Secured Bank Credit Facility Sep 15, 2019, Affirmed Caa2,
LGD5

Outlook Actions:

Issuer: DataPipe, Inc.

Outlook, Remains Negative

Ratings Rationale

Datapipe's B3 CFR reflects its small scale, high leverage and
persistent negative free cash flow as a result of the company's
high capital intensity and growth profile. These limiting factors
are offset by Datapipe's stable base of contracted recurring
revenues and established position within the high-growth, niche
market segment of complex, auditable managed services offerings.
Datapipe's market position, technical expertise and reputation and
its early success attracting large enterprise customers is a key
factor in Moody's affirmation of the B3 rating. Moody's believes
that Datapipe is entering a new phase of growth that requires it to
increase operating expense, pressuring margins and EBITDA. However,
Moody's expects leverage to fall meaningfully over the next two
years due to strong EBITDA growth and acknowledges that the growing
pains of margin pressure and challenged liquidity are, at least
partially, driven by discretionary investments.

Proforma for the debt offering, Moody's expects Datapipe's leverage
to exceed the downgrade trigger for the B3 rating of 7x over the
near term. However, Moody's expects leverage to fall below 7x
before year end 2016 as merger synergies are realized and EBITDA
grows. Moody's expects that the cash proceeds from the recently
announced debt offering will be used for EBITDA accretive
activities, such that the modest incremental debt will not
materially change the company's pro forma leverage.

Datapipe's weak liquidity pressures the rating, and the B3 rating
will face increased downward pressure if liquidity does not improve
within the next six months. Moody's estimates Datapipe has
approximately $7 million of cash and $37 million available under
its $51.6 million revolver (as at the end of 2014 pro-forma for the
transaction). Moody's expects the company to rely heavily upon its
revolving credit facility going forward due to its negative free
cash flow which is primarily driven by high capital intensity and
investments for growth. Moody's anticipates the revolver
utilization to be over 75% by year end 2015 and total available
liquidity to be less than $15 million. The existing credit
facilities have two covenant tests: maximum total leverage and
minimum interest coverage. There are no debt maturities over the
next year except for the mandatory annual 1% amortization of the
1st lien term loan each year.

The negative outlook reflects Moody's concerns about adding more
financial risk to the already high execution risks associated with
the company's growth plan.

Given the company's very high leverage and negative free cash flow,
a rating upgrade is not contemplated at this time. Moody's could
lower Datapipe's ratings if liquidity becomes further strained or
Moody's adjusted leverage stays above 7x for an extended period of
time.

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

Headquartered in Jersey City, NJ, Datapipe, Inc. is a provider of
data center, managed hosting and cloud services. The company
currently operates 12 data centers in the US and internationally.



DAYBREAK OIL: Incurs $167,500 Net loss in Third Quarter
-------------------------------------------------------
Daybreak Oil and Gas, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss available to common shareholders of $168,000 on $664,000
of oil and natural gas sales for the three months ended Nov. 30,
2014, compared to a net loss available to common shareholders of
$449,000 on $425,000 of oil and natural gas sales for the same
period in 2013.

For the nine months ended Nov. 30, 2014, the Company reported a net
loss available to common shareholders of $378,000 on $2.51 million
of oil and natural gas sales compared to a net loss available to
common shareholders of $1.44 million on $1.13 million of oil and
natural gas sales for the same period in 2013.

As of Nov. 30, 2014, the Company had $13.4 million in total assets,
$18.2 million in liabilities, and a $4.78 million stockholders'
deficit.

"The Company has incurred net losses since entering the oil and
natural gas exploration industry and as of Nov. 30, 2014 has an
accumulated deficit of $27,750,137 and a working capital deficit of
$3.76 million which raises substantial doubt about the Company's
ability to continue as a going concern," the filing stated.

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

                        http://is.gd/ns4Lrq

                         About Daybreak Oil

Daybreak Oil and Gas, Inc., is an independent oil and natural gas
exploration, development and production company.  The Company is
headquartered in Spokane, Washington and has an operations office
in Friendswood, Texas.  The Company's common stock is quoted on
the OTC Bulletin Board market under the symbol DBRM.OB.  Daybreak
has over 20,000 acres under lease in the San Joaquin Valley of
California.

Daybreak Oil incurred a net loss available to common shareholders
of $1.54 million for the year ended Feb. 28, 2014, a net loss
available to common shareholders of $2.39 million for the year
ended Feb. 28, 2013, and a net loss available to common
shareholders of $1.59 million for the year ended Feb. 29, 2012.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Feb. 28, 2014.  The independent auditors noted that
Daybreak Oil and Gas, Inc. suffered losses from operations and has
negative operating cash flows, which raises substantial doubt
about its ability to continue as a going concern.


DEB STORES: Gordon, Hilco Begin Going-Out-of-Business Sales
------------------------------------------------------------
Gordon Brothers Group and Hilco Merchant Resources on Jan. 8
disclosed that they were scheduled to begin going-out-of-business
sales at all Deb Shops retail locations nationwide on Friday, Jan.
9.  After over 80 years in business, Deb Shops, a
Philadelphia-based women's fashion discount retailer, is closing
its doors.  The company filed for Chapter 11 protection on December
4, 2014.  On January 7, 2015, Gordon Brothers Group and Hilco
Merchant Resources were awarded the store closing process for all
locations by the bankruptcy court.  Deb Shops currently operates
approximately 287 retail locations.  Store closing sales will begin
on January 9th and will involve discounts of 30-50% on all Junior
and Plus Size apparel, including tops, sweaters, jeans, pants,
dresses, activewear, outerwear, and lingerie.  Store furniture,
fixtures, and equipment will also be for sale.

"We thank our many customers and dedicated employees for their
tremendous loyalty over the years and are very proud of our
associates' commitment to maintaining the high level of customer
service we are known for throughout this transition," said Dawn
Robertson, Chief Executive Officer, Deb Shops.

"While Deb Shops has a reputation for every day value, we encourage
customers to take advantage of the significant additional discounts
available during this time while the selection lasts," Rick
Edwards, Co-President, Gordon Brothers Group's Retail Division
stated.

"We anticipate that this will be a short sale due to the
outstanding savings and the very desirable assortment of fashion
and accessories.  Consumers are encouraged to shop early to enjoy
the greatest selection," said Mike Keefe, President and CEO of
Hilco Merchant Resources.

Gordon Brothers Group and Hilco Merchant Resources will oversee the
going-out-of-business sales on behalf of Deb Shops in all
locations.  Store locations will remain open until all merchandise
has been sold.

Deb Shops gift cards will be honored through March 8.

                         About Deb Stores

Headquartered in Philadelphia, Pennsylvania, Deb Stores is a
mall-based retailer in the juniors "fast-fashion" specialty sector
that operates under the name "DEB" and offers moderately priced,
fashionable, coordinated women's sportswear, dresses, coats,
lingerie, accessories and shoes for junior and plus sizes.  The
company, founded by Philip Rounick and Emma Weiner, opened its
first store under the name JOY Hosiery in Philadelphia,
Pennsylvania in 1932.  As of Sept. 30, 2014, the company operated
a
total of 295 retail store locations (primarily in the East and
Midwest, especially Pennsylvania, Ohio and Michigan) as well as an
e-commerce channel.

On June 26, 2011, Deb Stores' predecessors -- DSI Holdings Inc.
and
its subsidiaries -- sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 11-11941) and closed the sale of the assets three
months later to Ableco Finance, LLC, the agent for the first lien
lenders.

Deb Stores Holding LLC and eight affiliated companies commenced
Chapter 11 bankruptcy cases in Delaware on Dec. 4, 2014.  The
Debtors are seeking to have their cases jointly administered, with
pleadings maintained on the case docket for Deb Stores Holding
(Case No. 14-12676).  The cases are assigned to Judge Mary F.
Walrath.

Laura Davis Jones, Esq., Colin R. Robinson, Esq., at and Peter J.
Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Delaware, serve as counsel to the Debtors.  Epiq Bankruptcy
Solutions, LLC, is the claims and noticing agent.

As of Dec. 31, 2014, the Debtors' most recent audited consolidated
financial statements reflected assets totaling $90.5 million and
liabilities totaling $120.1 million.



DELIA*S INC: Gets Final Approval to Continue GOB Sales
------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. Bankruptcy Judge Robert Drain in New York
gave Delia's Inc. final authority to continue going-out-of-business
sales that began a few days after the Chapter 11 filing in
December.

According to the report, Judge Drain said Gordon Brothers Retail
Partners LLC and Hilco Merchant Resources LLC can continue to
liquidate merchandise at the retailer's stores,.

As previously reported by the TCR, the terms of the Agency
Agreement between the Debtors and the Gordon Brothers-Hilco joint
venture are:

   -- Provided the Court's approval order is entered no later than
Dec. 24, 2014, Gordon/Hilco guarantees that the Debtors will
receive an amount equal to 91 percent of the aggregate cost value
of merchandise.  The guaranteed amount will decrease daily if the
interim order is not entered by Dec. 12, 2014.

   -- Subject to the entry of the approval order by Dec. 24, 2014,
Gordon/Hilco will be unconditionally responsible for all expenses.

   -- The sale commenced on Dec. 4, 2014.  Gordon/Hilco will
complete the sale and vacate the premises of each store and the
Direct Business Platform in favor of the Debtors on or before the
date that is the earlier of (i) April 15, 2015; and (ii) the date
that is 120 twenty days after entry of an order for relief in the
Debtors' bankruptcy cases.

   -- During the period between the Sale Commencement Date and the
date that is 30 days after entry of the Approval Order,
Gordon/Hilco will accept the Debtors' gift cards.

                        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 $47.0 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.


DENDREON CORP: Committee Taps Centerview as Investment Banker
-------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Dendreon Corp., et al., seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to retain Centerview
Partners LLC as its investment banker nunc pro tunc to Dec. 5,
2014.

The Committee selected Centerview as its investment banker based
on, among other things, the excellent reputation of Centerview's
professionals in providing investment banking services in complex
chapter 11 cases and the Committee's need to retain an investment
banker in these chapter 11 cases.

The Committee engaged Centerview to provide general restructuring
advice in connection with the Debtors' attempts to complete a
recapitalization and/or M&A transaction.

Pursuant to an Engagement Letter dated Dec. 5, 2014, the Committee
proposes that Centerview be compensated based on this fee
structure:

   a. A monthly financial advisory fee of $125,000; provided,
however, that in no event will Centerview receive less than the
first six monthly advisory fee payments ($750,000).  The amount of
any monthly advisory fee earned after the first six months will be
100% credited (but only once) against any additional fee payable to
Centerview.

    b. If at any time during the term of Centerview's engagement or
within the twelve full months following the termination of this
engagement, (i) any transaction is consummated or (ii) (a) an
agreement in principle, definitive agreement to effect a
transaction is entered into and (b) concurrently therewith or at
any time thereafter (including following the expiration of the Fee
Period), any transaction is consummated, Centerview will be
entitled to receive an additional fee, provided that the amount of
any additional fee will be determined in the Committee's sole
discretion, contingent upon the consummation of a transaction and
payable in cash by the Company at the closing thereof.   In the
event of a (1) sale of the Company, either pursuant to a Plan of
Reorganization or under section 363 of the Bankruptcy Code, the
additional fee will not exceed $500,000 and (2) a Plan of
Reorganization in which the existing noteholders of the Company
receive a majority of the reorganized equity, the additional fee
shall not exceed $350,000.

    c. In addition to any fees that may be payable to Centerview
and, regardless of whether any transaction occurs, the Debtors will
reimburse Centerview on a periodic basis for its travel and other
reasonable documented out-of pocket expenses.

    d. As part of the compensation payable to Centerview, the
Debtors are obligated to indemnify, make certain contributions to,
and reimburse Centerview.

Jeffrey Finger, a partner of the firm, attests that Centerview is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.

                         About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company

focused on the development of novel cellular immunotherapies to
significantly improve treatment options for cancer patients.
Dendreon's first product, PROVENGE (sipuleucel-T), was approved by
the U.S. Food and Drug Administration (FDA) and became
commercially available for the treatment of men with asymptomatic
or minimally symptomatic castrate-resistant (hormone-refractory)
prostate cancer in April 2010.  Dendreon is traded on the NASDAQ
Global Market under the symbol DNDN.

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

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

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

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

The U.S. Trustee for Region 3 has appointed five members to the
Official Committee of Unsecured Creditors.  The Committee taps
Sullivan & Cromwell LLP as counsel, and Young Conaway Stargatt &
Taylor, LLP, as co-counsel.

                               *   *   *

The U.S. Trustee has continued until Jan. 14, 2015, the meeting of
creditors in the Debtors' cases, in Wilmington, Delaware.

The Debtors are selling substantially all of their assets.  With
the Court's consent, an auction will be conducted on Feb. 3, 2015
if more or qualified bids are received.  Qualified bids are due
Jan. 27.  The Bankruptcy Court is set to convene a hearing on Feb.
5 to consider the highest and best bid for the Debtors' assets.


DENDREON CORP: Committee Taps Deloitte FAS as Financial Advisor
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Dendreon Corp., et al., seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to retain Deloitte
Financial Advisory Services LLP as its financial advisor, nunc pro
tunc to Nov. 19, 2014.

The Committee requires the services of experienced financial
advisors to analyze the Debtors' business and financial affairs.
The Committee believes that Deloitte FAS is well qualified and able
to represent it in a cost-effective, efficient, and timely manner.

The Engagement Letter dated as of Dec. 16, 2014, provides for
Deloitte FAS to be compensated on a time and expense basis, with
its fees determined by the hours actually expended by the firm's
personnel, and multiplied by their applicable hourly billing rate.
Deloitte FAS' per-hour billing rate for the engagement is $400 for
all personnel.

Deloitte FAS will also seek reimbursement of reasonable expenses
incurred in connection with the engagement.

John Doyle, a director of Deloitte FAS, disclosed that affiliates
of Deloitte FAS, previously performed certain consulting services
for the Debtor and that certain law firms have provided legal
services to Deloitte FAS or its affiliates in matters unrelated to
the cases.

Mr. Doyle assures the Court that Deloitte FAS (i) is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code of the Bankruptcy Code, (ii) does not hold or
represent an interest adverse to the Debtors' estates; and (iii)
has no connection to the Debtors, their creditors, or their related
parties.

A hearing is scheduled for Feb. 5, 2015, at 9:30 a.m. (ET).
Objections are due Jan. 20.

                          About Dendreon

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company

focused on the development of novel cellular immunotherapies to
significantly improve treatment options for cancer patients.
Dendreon's first product, PROVENGE (sipuleucel-T), was approved by
the U.S. Food and Drug Administration (FDA) and became
commercially available for the treatment of men with asymptomatic
or minimally symptomatic castrate-resistant (hormone-refractory)
prostate cancer in April 2010.  Dendreon is traded on the NASDAQ
Global Market under the symbol DNDN.

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

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

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

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

The U.S. Trustee for Region 3 has appointed five members to the
Official Committee of Unsecured Creditors.  The Committee taps
Sullivan & Cromwell LLP as counsel, and Young Conaway Stargatt &
Taylor, LLP, as co-counsel.

                               *   *   *

The U.S. Trustee has continued until Jan. 14, 2015, the meeting of
creditors in the Debtors' cases, in Wilmington, Delaware.

The Debtors are selling substantially all of their assets.  With
the Court's consent, an auction will be conducted on Feb. 3, 2015
if more or qualified bids are received.  Qualified bids are due
Jan. 27.  The Bankruptcy Court is set to convene a hearing on Feb.
5 to consider the highest and best bid for the Debtors' assets.


DEWEY & LEBOEUF: Denied $4.7 Million as Excessive Fee Request
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. Circuit Judge Denny Chin ruled in an
opinion that before it was liquidated in bankruptcy, Dewey &
LeBoeuf LLP provided legal services to a receiver at
"extraordinarily high rates" that "were not cost-effective,"

Saying that the Dewey firm had an "apparent penchant for running
the meter," Judge Chin refused to approve a final $4.7 million in
fees, given that Dewey already got more than $9.4 million from the
receivership, the report related.

According to the report, the denial of fees was no surprise because
Judge Chin previously expressed concern over the reasonableness of
fees.

The fee case is SEC v. Byers, 08-7104, U.S. District Court,
Southern District New York (Manhattan).

                      About Dewey & LeBoeuf

Dewey & LeBoeuf LLP sought Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 12-12321) to complete the wind-down of its operations.
The firm had struggled with high debt and partner defections.
Dewey disclosed debt of $245 million and assets of $193 million in
its chapter 11 filing late evening on May 29, 2012.

Dewey & LeBoeuf LLP operated as a prestigious, New York City-
based, law firm that traced its roots to the 2007 merger of Dewey
Ballantine LLP -- originally founded in 1909 as Root, Clark & Bird
-- and LeBoeuf, Lamb, Green & MacCrae LLP -- originally founded in
1929.  In recent years, more than 1,400 lawyers worked at the firm
in numerous domestic and foreign offices.

At its peak, Dewey employed about 2,000 people with 1,300 lawyers
in 25 offices across the globe.  When it filed for bankruptcy,
only 150 employees were left to complete the wind-down of the
business.

Dewey's offices in Hong Kong and Beijing are being wound down.
The partners of the separate partnership in England are in process
of winding down the business in London and Paris, and
administration proceedings in England were commenced May 28.  All
lawyers in the Madrid and Brussels offices have departed.  Nearly
all of the lawyers and staff of the Frankfurt office have
departed, and the remaining personnel are preparing for the
closure.  The firm's office in Sao Paulo, Brazil, is being
prepared for closure and the liquidation of the firm's local
affiliate.  The partners of the firm in the Johannesburg office,
South Africa, are planning to wind down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for
$6 million.  The Pension Benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

FTI Consulting, Inc. was appointed secured lender trustee for the
Secured Lender Trust.  Alan Jacobs of AMJ Advisors LLC, was named
Dewey's liquidation trustee.  Scott E. Ratner, Esq., Frank A.
Oswald, Esq., David A. Paul, Esq., Steven S. Flores, Esq., at
Togut, Segal & Segal LLP, serve as counsel to the Liquidation
Trustee.

Dewey's liquidating Chapter 11 plan was approved by the bankruptcy
court in February 2013 and implemented in March.  The plan created
a trust to collect and distribute remaining assets.  The firm
estimated that midpoint recoveries for secured and unsecured
creditors under the plan would be 58.4 percent and 9.1 percent,
respectively.


DIRECT ACCESS: Venezuelan Bank Barred From Filing Late Claim
------------------------------------------------------------
Bankruptcy Judge Allan L. Gropper denied, without prejudice, the
motion of Banco de Desarrollo Economico y Social de Venezuela, a
Venezuelan state-owned bank, to file a late proof of claim in the
chapter 11 case of Direct Access Group, LLC.  Banco de Desarrollo
was a client of Direct Access Partners, LLC.

On Nov. 12, 2013, the Court entered an order setting the deadline
for filing proofs of claim as
Dec. 20, 2013.  

On Oct. 29, 2014, 10 months after the Bar Date, Banco de Desarrollo
moved for leave to file a late proof of claim.  It argues that its
failure to timely file a proof of claim is the result of "excusable
neglect" because it did not receive actual notice of the Bar Date,
and that it was entitled to such notice as a "known" creditor.  It
further argues that even if the Court finds it to be an "unknown"
creditor, publication of the Bar Date in the Wall Street Journal
was insufficient to provide it with constructive notice.

A copy of the Court's Jan. 6 Decision and Order is available at
http://bit.ly/1IyqsUWfrom Leagle.com.

                     About Direct Access Group

Direct Access Group, LLC, is a holding company whose primary asset
was a 99%-owned subsidiary, Direct Access Partners, LLC.  DAP's
Global Markets Group, an internal division of DAP, was engaged in
executing fixed income trades for customers in foreign sovereign
debt.

Direct Access was hit May 30, 2013, with an involuntary Chapter 7
bankruptcy petition (Bankr. S.D.N.Y. Case No. 13-11780) filed by
Lake Avenue Capital LLC.  On July 22, 2013, the Debtor converted
the filing to a voluntary petition under Chapter 11.


DOVER DOWNS: No Executive Bonuses for 2014
------------------------------------------
At Dover Downs Gaming & Entertainment, Inc.'s regularly scheduled
meeting held on Jan. 2, 2015, the following resolutions were
adopted by the Compensation and Stock Incentive Committee of the
Board of Directors of the Company:

   1. There will be no salary changes made for the executive
      officers of the Company for fiscal year 2015.

   2. No bonuses will be paid to the executive officers of the
      Company for fiscal year ending 2014.

   3. The determination of a discretionary annual incentive for
      the executive vice president for fiscal year ending 2015
      will be dependent upon an overall favorable evaluation of
      the executive vice president's performance and be calculated

      as two and one-half percent of the year over year increase
      in the Company's pre-tax earnings, as determined by this
      Committee in its sole discretion, including any adjustments
      for extraordinary or non-recurring items as the Committee
      may deem appropriate.

   4. Effective as of Jan. 1, 2015, the salary for the chief
      executive officer of the Company will remain $300,000 per
      annum and the determination of a discretionary annual
      incentive for fiscal year ending 2015 will be dependent upon
      an overall favorable evaluation of the chief executive
      officer's performance and be calculated as five percent of
      the year over year increase in the Company's pre-tax
      earnings, as determined by this Committee in its sole
      discretion, including any adjustments for extraordinary or
      non-recurring items as the Committee may deem appropriate."

                         About Dover Downs

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

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

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

The Company's balance sheet at Sept. 30, 2014, showed $185 million
in total assets, $68.8 million in total liabilities and total
stockholders' equity of $116 million.


DOW CORNING: Implant Liability Slashed by $1.3 Billion
------------------------------------------------------
During the fourth quarter of 2014, Dow Corning Corporation, with
the assistance of a third-party advisor, developed an estimate of
the future breast implant liability based on evidence that the
actual funding required for a bankruptcy settlement facility is
expected to be lower than the full funding cap set forth in the
Plan. On December 12, 2014, Dow Corning reduced its Implant
Liability by approximately $1.3 billion.

In May 1995, Dow Corning filed for protection under Chapter 11 of
the U.S. Bankruptcy Code to address pending and claimed liabilities
arising from breast implant product lawsuits. On June 1, 2004, Dow
Corning's Joint Plan of Reorganization became effective and Dow
Corning emerged from bankruptcy. Under the Plan, Dow Corning
established and agreed to fund a products liability settlement
program.  The Plan contains a cap on the amount of payments
required from Dow Corning to fund the Settlement Facility.
Inclusive of insurance, Dow Corning has paid approximately $1.8
billion to the Settlement Facility, and approximately $1.3 billion
has been paid to claimants out of the Settlement Facility. Dow
Corning's recorded liability related to implant matters was
approximately $1.7 billion at September 30, 2014, representing Dow
Corning's estimated remaining obligation for future funding of the
Settlement Facility.

Previously, the Implant Liability was based on the full funding cap
set forth in the Bankruptcy Plan. The revised Implant Liability
reflects Dow Corning's best estimate of its remaining obligations
under the Plan. Should events or circumstances occur in the future
which change Dow Corning's estimate of the remaining funding
obligations, the Implant Liability will be revised. This adjustment
does not affect Dow Corning's commitment or ability to fulfill its
obligations under the settlement, and all claims that qualify under
the settlement will be paid according to the terms of the Plan.

The information was disclosed in a Form 8-K Current Report filed
with the Securities and Exchange Commission by Corning
Incorporated, which holds a 50% stake in Dow Corning.

Corning Inc. also disclosed the impairment of assets and related
costs at Dow Corning's Hemlock Semiconductor Facility in
Clarksville, Tennessee.  

On December 15, 2014, Dow Corning determined its Hemlock
Semiconductor facility in Clarksville, Tennessee, would not be
economically viable and made the decision to permanently abandon
the assets. This decision was made after review of sustained
adverse market conditions and continued oversupply, the cost of
operating the facility, and the ongoing impact of tariffs on
polycrystalline silicon imported into China. Dow Corning expects to
record a pre-tax charge of approximately $1.5 billion to $1.6
billion related to the decision to permanently cease use of these
assets.

Corning's fourth quarter equity earnings will reflect the Company's
50% share of: (1) Dow Corning's after-tax gain related to the
decrease in its Implant liability in the amount of approximately
$400 million; and (2) Dow Corning's after-tax charge against the
Clarksville facility in the amount of approximately $500 million.

                      About Dow Corning

Dow Corning Corp. -- http://www.dowcorning.com/-- produces and
supplies more than 7,000 silicon-based products and services to
more than 25,000 customers worldwide.  Dow Corning is equally
owned by The Dow Chemical Company and Corning Incorporated.

The Company filed for Chapter 11 protection on May 15, 1995
(Bankr. E.D. Mich. Case No. 95-20512) to resolve silicone implant-
related tort liability.  The Company owed its commercial creditors
more than $1 billion at that time.  A consensual Joint Plan of
Reorganization, amended on February 4, 1999, offering to pay
commercial creditors in full with post-petition interest,
establish a multi-billion-dollar settlement trust for tort claims,
and leave Dow Corning's shareholders unimpaired, took effect on
June 30, 2004.


DR. TATTOFF: Andrew M. Heller Holds 17.2% Stake as of Jan. 7
------------------------------------------------------------
Andrew M. Heller disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission on Jan. 7, 2015, that he
beneficially owned 4,311,305 shares of common stock of Dr. Tattoff,
Inc., representing 17.23 percent of the shares outstanding.  A copy
of the regulatory filing is available at http://is.gd/ugqiDe

Beverly Hills, Calif.-based Dr. Tattoff, Inc., currently operates
or provides management services to five laser tattoo and hair
removal clinics located in Texas and California, all of which
operate under the Company's registered trademark "Dr. Tattoff."

SingerLewak LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company's
current liabilities exceeded its current assets by approximately
$5.43 million, has shareholders' deficit of $4.01 million, has
suffered recurring losses and negative cash flows from operations,
and has an accumulated deficit of approximately $11.71 million at
Dec. 31, 2013.

The Company reported a net loss of $4.3 million on $3.65 million
of revenues for the year ended Dec. 31, 2013, compared with a net
loss of $2.84 million on $3.2 million of revenues in 2012.

As of Sept. 30, 2014, the Company had $2.34 million in total
assets, $10.8 million in total liabilities, and a $8.41 million
shareholders' deficit.


EAT AT JOE'S: Extinguishes $11 Million in Debt
----------------------------------------------
Eat At Joe's, Ltd., agreed to extinguish its debt to Joseph Fiore
and Berkshire Capital Management Co., Inc., totaling $11.03 million
as of Dec. 31, 2014, according to a regulatory filing with the U.S.
Securities and Exchange Commission.

Mr. Fiore agreed to forgive interest due on the amounts owed to him
by the Registrant in the sum of $269,000, resulting in a balance
due to Mr. Fiore of $2.40 million, and consequently, reducing the
adjusted combined total due to both Mr. Fiore and Berkshire Capital
Management Co., Inc. to
$10.8 million.

A material relationship exists between the Company, Berkshire
Capital and Mr. Fiore, because Mr. Fiore is the Company's chief
executive officer, chief financial officer, chairman and secretary.
Mr. Fiore also reports on behalf of the Company to the Commission
as the Company's principal executive officer & principal accounting
officer.  Berkshire Capital Management Co., Inc. is a corporation
controlled by Mr. Fiore. From time to time, Mr. Fiore and Berkshire
Capital Management Co., Inc. lent capital to the Company in order
to fund the Company's operations and business plans.

In exchange for the release and extinguishment of Mr. Fiore and
Berkshire Capital Management Co., Inc.'s debt, the Company agreed
to amend its articles of incorporation to classify a new preferred
class of common stock containing the following preferences: (i) the
designated value of the preferred shares being one hundred dollars
($100.00) each; (ii) the perpetual right of Mr. Fiore and Berkshire
Capital Management Co., Inc. to convert any or all of the preferred
shares into common stock of the Company at a price of forty cents
($0.40) per share; and, (iii) each unconverted share of preferred
stock so issued to Mr. Fiore and Berkshire Capital Management Co.,
Inc., having a voting preference of ten thousand (10,000) votes for
every one (1) share of preferred stock so issued.  It was
specifically agreed that the new class of preferred shares so
agreed to were non-interest bearing.

The Company's Board of Directors met to approve and authorize the
entry into the Material Definitive Agreement, and unanimously
consented to enter into the agreement, with Mr. Fiore taking no
part in the vote, after having disclosed his interest in the
transaction.  The Company's Board of Directors action to direct and
designate the creation of a new preferred class of common stock
containing the noted designated preferences, and afterwards
directed that the Company issue to Mr. Fiore 23,965 preferred
shares; and, to Berkshire Capital Management Co., Inc., 83,671
preferred shares.

On Oct. 24, 2014, the Company's Board of Directors met in a Special
Meeting and executed a unanimous written consent and resolution to
recommend to the shareholders that the Company's domicile should be
changed from Delaware to Nevada.  On Oct. 24, 2014, pursuant to
Sections 2.2 and 2.11 of the Company's By-Laws, 67% of the
shareholders eligible to vote met in a Special Meeting of the
Shareholders and consented, ratified and directed the Board of
Directors to execute such documents, take those steps and perform
those acts as may be necessary to affect the change of the
Company's domicile from Delaware to Nevada.  On Dec. 31, 2014, the
Company was advised that the change of domicile to Nevada was
complete.

                        About Eat at Joe's

Scarsdale, N.Y.-based Eat at Joe's, Ltd., presently owns and
operates one theme restaurant located in Philadelphia,
Pennsylvania.

Eat at Joe's  reported a net loss of $1.38 million in 2013
following net income of $2.84 million on in 2012.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
raising substantial doubt about its ability to continue as a going
concern.


EAT AT JOE'S: Sells 4 Million Restricted Shares for $1.6-Mil.
-------------------------------------------------------------
Eat at Joe's Ltd. entered into two separate stock purchase
agreements completing sales of its restricted common shares to two
private accredited investors, according to a regulatory filing with
the U.S. Securities and Exchange Commission.  The Company sold a
total of 4,000,000 shares of restricted common stock at a price of
$0.40 per share for an aggregate amount of $1,600,000 received by
the Company.  No underwriting commissions or fees were involved.

The sale contained additional restrictions on the Purchaser's
ultimate ability to sell the restricted common stock, to include
restrictions limiting the Purchaser's sales (once the underlying
shares have either been effectively registered or determined to be
qualified for a legal exemption) to 5,000 shares per day for every
250,000 shares traded.

                        About Eat at Joe's

Scarsdale, N.Y.-based Eat at Joe's, Ltd., presently owns and
operates one theme restaurant located in Philadelphia,
Pennsylvania.

Eat at Joe's  reported a net loss of $1.38 million in 2013
following net income of $2.84 million on in 2012.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
raising substantial doubt about its ability to continue as a going
concern.


ECOTALITY INC: Confirmation Order Resolves Plan Objections
----------------------------------------------------------
Judge Madeleine C. Wanslee of the U.S. Bankruptcy Court for the
District of Arizona on Dec. 31, 2014, issued a findings of fact,
conclusions of law and order approving the disclosure statement and
confirming the joint Chapter 11 plan of reorganization proposed by
Electric Transportation Engineering Corporation, d/b/a ECOtality
North America, and its debtor-affiliates.

The Plan Confirmation Order incorporates resolution of objections
to confirmation as explained on the record at the plan hearing.
The objections include those raised by the United States Trustee,
BMO Harris Bank, N.A., and Global LearnNet Ltd. and Valley 2010
Investment, LLC.

The U.S. Trustee complained of the third-party releases and the
exculpation provision of the Plan.  The Debtors maintained that the
releases and exculpation are proper based on the circumstances of
the Chapter 11 cases.  The Debtors added that they engaged in
significant negotiations regarding the proposed scope of
third-party releases.

According to the notice filed in court, the Debtors' Ballot
contained an "opt out" permitting creditors to elect not to be
bound by any grant of third party releases.  Approximately 26
creditors opted out of the third-party release provisions.  

The notice stated that the Court declined to exercise any authority
it may have to confirm a Chapter 11 plan that includes the broad
releases and exculpations.  The Court, the notice said, found that
the proposed releases, injunction and exculpation clauses are
provisions severable from the Joint Plan.  The Court therefore
severed those issues from the other confirmation issues.  The
notice said that each of the other criteria under the Bankruptcy
Code for confirmation of the Joint Plan has been satisfied and the
Court entered an order confirming the Joint Plan, reserving
authority to modify the confirmation order with respect to the
proposed releases, injunction and exculpation.

To resolve BMO's objection, the Plan provides that Class 1 will
include, inter alia, any Secured Claims of BMO and BMO will receive
payment in full in cash of its secured claim, reinstatement of its
secured claims, return of any collateral subject to BMO's secured
claim, including the Scottsdale House, and other treatment
rendering the holder's allowed secured claim unimpaired.

A full-text copy of the Plan Confirmation Order is available
at http://bankrupt.com/misc/ECOTALITYplanord1231.pdf

Prior to the confirmation hearing, the Debtors filed a first
amended joint Chapter 11 plan, which includes language resolving
objections to the confirmation of the Plan.  A full-text copy of
the Plan dated Dec. 23, 2014, is available at http://is.gd/ZoA7Fe

The Debtors also filed, on Dec. 19, 2014, plan supplements
disclosing the proposed members of the Reorganized Debtors' new
board of directors and the operating line of credit term sheet.
Full-text copies of the Plan Supplements are available at
http://is.gd/ETOAba

                      About Ecotality Inc.

Headquartered in San Francisco, California, ECOtality, Inc.
(Nasdaq: ECTY) -- http://www.ecotality.com/-- is a provider of  
electric transportation and storage technologies.

ECOtality Inc. along with affiliates including lead debtor
Electric Transportation Engineering Corp. sought Chapter 11
protection (Bankr. D. Ariz. Lead Case No. 13-16126) on Sept. 16,
2013, with plans to sell the business at an auction.

The cases are assigned to Chief Judge Randolph J. Haines.  The
Debtors' lead counsel are Charles R. Gibbs, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in Dallas, Texas; and David P. Simonds,
Esq., and Arun Kurichety, Esq., at Akin Gump Strauss Hauer & Feld
LLP, in Los Angeles, California.  The Debtors' local counsel is
Jared G. Parker, Esq., at Parker Schwartz, PLLC, in Phoenix,
Arizona.  FTI Consulting, Inc. serves as the Debtors' crisis
manager and financial advisor.  The Debtors' claims and noticing
agent is Kurtzman Carson Consultants LLC.

ECOtality estimated assets of $10 million to $50 million and debt
of $100 million to $500 million.  Unlike most companies in
bankruptcy, ECOtality has no secured debt.  It simply ran out of
money.  There's $5 million owing on convertible notes, plus
liability on leases.  Part of pre-bankruptcy financing took the
form of a $100 million cost-sharing grant from the U.S. Energy
Department.  In view of the San Francisco-based company's
financial problems, the government cut off the grant when
$84.8 million had been drawn.

On Sept. 24, 2013, the Office of the United States Trustee for
Region 14 appointed a committee of unsecured creditors.

In October 2013, the bankruptcy judge cleared ECOtality to sell
most of the business to Car Charging Group Inc. for $3.3 million.
Two other buyers purchased other assets for $1 million in total.


EDENOR SA: Informs Market on 2013 Annual Report Filing
------------------------------------------------------
The management of Edenor S.A. issued a press release dated Jan. 9,
2015, informing that, on April 28, 2014, it filed its annual report
on Form 20-F for the fiscal year ended Dec. 31, 2013, with the U.S.
Securities and Exchange Commission.

Edenor previously reported profit of ARS 772.7 million on ARS 3.44
billion of revenue from sales for the year ended Dec. 31, 2013,
compared with a loss of ARS 1.01 billion on ARS 2.97 billion of
revenue from sales for the year ended Dec. 31, 2012.  Edenor
reported a net loss of ARS 291.38 million in 2011.

As of Dec. 31, 2013, Edenor had ARS 7.25 billion in total
assets, ARS 6.08 billion in total liabilities and ARS 1.17 billion
in total equity.

A full-text copy of the Form 20-F is available for free at:

                        http://is.gd/tiAClO

For more information, access http://www.edenor.com/

Investor Relations Contacts

   Leandro Montero
   Tel: 5411.4346.5511
   Fax: 5411.4346.5303

   Veronica Gysin
   Tel: 5411.4346.5231
   Fax: 5411.4346.5303
   E-mail: investor@edenor.com

                          About Edenor SA

Headquartered in Buenos Aires, Argentina, Edenor S.A. (NYSE: EDN;
Buenos Aires Stock Exchange: EDN) is the largest electricity
distribution company in Argentina in terms of number of customers
and electricity sold (both in GWh and Pesos).  Through a
concession, Edenor distributes electricity exclusively to the
northwestern zone of the greater Buenos Aires metropolitan area
and the northern part of the city of Buenos Aires.

As of Sept. 30, 2014, the Company had ARS 7.99 billion in total
assets, ARS 8.26 billion in total liabilities and a
ARS 267.39 billion total deficit.


ELBIT IMAGING: Shareholders Re-Elect Elina Ronen to Board
---------------------------------------------------------
Elbit Imaging Ltd., held its extraordinary general meeting of its
shareholders on Jan. 8, 2015, at which the shareholders re-elected
Mrs. Elina Frenkel Ronen as an external director for an additional
three-year term.

                         About Elbit Imaging

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

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

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

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

Elbit Imaging reported a loss of NIS1.56 billion on
NIS361 million of total revenues for the year ended Dec. 31,
2013, as compared with a loss of NIS484 million on NIS418
million of total revenues in 2012.

As of June 30, 2014, the Company had NIS4.05 billion in total
assets, NIS3.16 billion in total liabilities and NIS890 million
shareholders' equity.

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


EMPIRE RESORTS: Signs Standby Agreement with Kien Huatt
-------------------------------------------------------
In a press release filed by Empire Resorts, Inc., on Form 8-K on
Dec. 18, 2014, the Company announced that its wholly owned
subsidiary, Montreign Operating Company, LLC, was selected in a
unanimous vote by the New York State Gaming Facility Location Board
as the sole Catskill/Hudson Valley Region One casino applicant
eligible to apply to the New York State Gaming Commission for a
Gaming Facility License.  The Gaming Commission will award those
Gaming Facility Licenses upon confirmation of the applicants'
suitability and their respective ability to complete the gaming
facility.

In a Form 8-K filed on Jan. 5, 2015, the Company announced the
commencement of a rights offering of non-transferable subscription
rights to holders of record of the Company's Common Stock and
Series B Preferred Stock as of Jan. 2, 2015, to purchase up to
7,042,254 shares of the Company's Common Stock.  The Issuer's Form
8-K states that the net proceeds of the 2015 Rights Offering will
be used for the expenses relating to the pursuit of the Gaming
Facility License and for development purposes.

In connection with the Rights Offering, the Issuer and Kien Huat
entered into a Standby Purchase Agreement whereby Kien Huat agreed
to exercise in full the subscription rights it will receive at no
charge pursuant to the 2015 Rights Offering at a subscription price
of $7.10 per Common Share for each 5.6 shares of Common Stock
owned, or into which the Series B Preferred Stock is convertible.
Kien Huat expects to receive approximately 4,321,798 subscription
rights pursuant to the 2015 Rights Offering.  In addition, Kien
Huat also agreed to exercise all rights not otherwise exercised by
the other holders in the 2015 Rights Offering in an aggregate
amount not to exceed $50,000,000.  Kien Huat agreed to pay an
amount equal to the Subscription Price multiplied by the number of
shares of Common Stock purchased in the 2015 Rights Offering within
10 days of grant of its subscription rights, and an amount equal to
the Subscription Price multiplied by the number of shares of Common
Stock purchased in the 2015 Standby Offering within five business
days of the completion of the 2015 Rights Offering.  In
consideration for Kien Huat's participation in the 2015 Standby
Offering, the Issuer agreed to pay Kien Huat a fee of $250,000 on
the date of the 2015 Standby Offering closing, and to reimburse
Kien Huat for up to $40,000 of out-of-pocket fees and expenses
incurred in connection with the transactions.

In a press release filed by the Issuer on Form 8-K on Dec. 18,
2014, the Issuer announced that its wholly owned subsidiary,
Montreign Operating Company, LLC, was selected in a unanimous vote
by the New York State Gaming Facility Location Board as the sole
Catskill/Hudson Valley Region One casino applicant eligible to
apply to the New York State Gaming Commission for a Gaming Facility
License.  The Gaming Commission will award such Gaming Facility
Licenses upon confirmation of the applicants' suitability and their
respective ability to complete the gaming facility.

Pursuant to the terms of the 2015 Standby Purchase Agreement, Kien
Huat agreed that it and its affiliates would not acquire shares of
Common Stock between the date of the 2015 Standby Purchase
Agreement and the closing date of the 2015 Standby Offering unless
authorized to do so by the Issuer.  The Issuer agreed, subject to
certain limited exceptions, to not issue any capital stock or
securities exchangeable for capital stock of the Issuer between the
date of the 2015 Standby Purchase Agreement and the earlier of the
closing date of the 2015 Standby Offering or any termination date
of the 2015 Standby Purchase Agreement.  

In addition, the 2015 Standby Purchase Agreement may be terminated
by the Issuer in the event that the Issuer determines that it is
not in the best interests of the Issuer and its shareholders to go
forward with the 2015 Rights Offering.

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

                        http://is.gd/VGzorK

                        About Empire Resorts

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

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

The Company's balance sheet at Sept. 30, 2014, showed $42.4
million in total assets, $56.7 million in total liabilities and a
$14.3 million total stockholders' deficit.


ENERGY FUTURE: Court to Establish "Unmanifested" Claims Bar Date
----------------------------------------------------------------
Bankruptcy Judge Christopher S. Sontchi granted the request of
Energy Future Holdings Corp. and its affiliated debtors to
establish a deadline for the filing of so-called "Unmanifested"
claims.

Judge Sontchi said an order establishing the bar date and
specifying notice thereof will be entered after further proceedings
before the Court.

The Debtors had asked the Court to establish a bar date for claims
of unknown persons that have yet to manifest any sign of illness
from exposure to asbestos.  The Unminifested Claimants were
(allegedly) exposed to asbestos at one of the Debtors' facilities
prior to the petition date, yet, to date, do not know, even with
appropriate due diligence, that they will become ill, due to the
potential for a long latency period between asbestos exposure and
illness. The Debtors have requested that a bar date be established
for these Unmanifested Claims.

The United States Trustee had previously appointed a committee of
unsecured creditors or so-called "T-side Committee".  None of the
members of the T-side Committee, however, are asbestos claimants.
The T-side Committee is composed of creditors of Energy Future
Competitive Holdings Company LLC ("EFCH"), EFCH's direct
subsidiary, Texas Competitive Holdings Company LLC ("TCEH"), TCEH's
direct and indirect subsidiaries, and EFH Corporate Services
Company. This committee represents the interests of the unsecured
creditors of the debtors and no others.

The Debtors in July 2014 filed a motion seeking a bar date for
prepetition claims.  Certain asbestos personal injury law firms
filed an objection to the Bar Date Motion.  The Debtors filed a
reply to the PI Law Firm's Objection in which the Debtors modified
its bar date request.  At a hearing on August 13, 2014, the Court
heard the Bar Date Motion. At the conclusion of the hearing, the
Court approved the Bar Date Motion as it related to non-asbestos
claims and continued the Bar Date Motion (solely as it related to
asbestos claims) to a hearing scheduled for September 16, 2014.

In September, the U.S. Trustee announced that it would solicit
asbestos claimants to determine whether an asbestos claims
committee should be formed.  In light of the potential for the
formation of an asbestos committee, the Court granted a final
continuance of this matter.

On October 27, 2014, the U.S. Trustee formed a statutory committee
of unsecured creditors whereon two of the five members are asbestos
claimants or so-called E-side Committee.

The PI firms that objected to the Debtors' Bar Date Motion are Gori
Julian & Associates, P.C., Simmons Hanley Conroy, Paul Reich &
Meyers, P.C., Kazan McClain, Satterley & Greenwood, a Professional
Law Corporation, and Early, Lucarelli, Sweeney & Meisenkothen.  The
PI Law Firms represent over 125 asbestos claimants.

According to the PI Law Firms, both nuclear and electric power
generation produces extreme amounts of heat. The presence of this
heat necessitates the installment of insulation throughout power
plants including in the walls, wires, pipes, boilers and
generators. As such, historically, power plants were depositories
of asbestos and asbestos-laden materials and products. In addition
to its presence throughout the plant and equipment, workers
responsible for building and maintaining the plants and equipment
would wear insulated clothing or gear to do their jobs. For years,
these pants, coats, aprons, mitts and masks contained asbestos.
Asbestos exposure was virtually unavoidable in power plants built
prior to 1980. EECI, one of the Debtors, was at one time known as
Ebasco, which was at various times affiliated with Boise Cascade,
Halliburton and Raytheon Corporation (all of which have had
asbestos-related personal injury liability).

The Debtors scheduled 392 asbestos-related cases against the
Debtors, including approximately 121 cases being defended (20 of
which are related to the Debtors' electricity generation
activities) and approximately 270 cases where the Debtors have
rejected indemnification demands. The Debtors believe that
litigation and settlement expenses incurred in connection with
asbestos claims against the Debtors are not material. The Debtors
estimate that their asbestos expenses average up to $3 million
annually.8 The Debtors further believe that their restructuring is
unlikely to be driven by asbestos claims or result in a channeling
injunction under section 524(g) of the Bankruptcy Code. The Debtors
assert that the purported asbestos claims against the Debtors, like
all of the Debtors' liabilities, reflect a point of due diligence
for parties participating in the ongoing marketing process of EFH
Corp. Thus, the Debtors and potential bidders seek to use the tools
available in the Bankruptcy Code to gather information regarding
their outstanding liabilities and to bar all "claims" that are not
properly and timely filed.

A copy of the Court's January 7, 2015 Opinion is available at
http://bit.ly/1Ks4KWgfrom Leagle.com.

                     About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY TRANSFER: Bank Debt Trades at 5% Off
-------------------------------------------
Participations in a syndicated loan under which Energy Transfer
Equity LP is a borrower traded in the secondary market at 94.70
cents-on-the-dollar during the week ended Friday, January 9, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
2.05 percentage points from the previous week, The Journal relates.
Energy Transfer pays 250 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Nov. 15, 2019, and carries
Moody's Ba2 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.



ERF WIRELESS: Issues 19.1 Million Common Shares
-----------------------------------------------
ERF Wireless, Inc., issued 19,131,067 common stock shares pursuant
to existing convertible promissory notes from Dec. 30, 2014,
through Jan. 9, 2015, according to a regulatory filing with the
U.S. Securities and Exchange Commission.  The Company receives no
additional compensation at the time of the conversions beyond that
previously received at the time the Convertible Promissory Notes
were originally issued.   The shares were issued at an average of
$0.00082 per share.  The issuance of the shares constitutes 28.83%
of the Company's issued and outstanding shares based on 66,357,752
shares issued and outstanding as of Dec. 29, 2014.

                         About ERF Wireless

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

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

As of Sept. 30, 2014, the Company had $3.59 million in total
assets, $10.4 million in liabilities, and a $6.84 million
shareholders' deficit.


EXIDE TECHNOLOGIES: Tort Claimants Object to Disclosure Statement
-----------------------------------------------------------------
The Ad Hoc Group of Exide Tort Claimants and Wells Fargo Bank,
National Association, object to the approval of the disclosure
statement explaining Exide Technologies' plan of reorganization.

The Tort Claimants complain that the Disclosure Statement provides
no information regarding the proposed treatment of the tort
claimants' prepetition claims either specifically or generally as
holders of general unsecured claims.  Rather, the Tort Claimants
point out, the Disclosure Statement states only that the treatment
of holders of general unsecured claims "remains to be determined."
The Tort Claimants consist of more than 560 claimants who have
suffered material personal injury, property damage and other harms
arising from the dangerous and illegal emissions of lead, arsenic
and other poisons from, and other environmental conditions and
harms caused by, the Debtor's battery recycling plant in Vernon,
California.

Wells Fargo, which serves as indenture trustee and collateral agent
for the 8-5/8% Senior Secured Notes due 2012, complains that the
Disclosure Statement does not indicate the Plan's proposed
treatment of senior noteholders who are not "eligible holders."
The Plan and the Disclosure Statement fail to disclose precise the
nature, the terms, and value of what Senior Noteholders are
receiving, and in particular the "comparable consideration" to be
extended to non-Eligible Holders, Wells Fargo added.

U.S. Bank National Association, as indenture trustee for the
Floating Rate Convertible Senior Subordinated Notes due 2013,
joined in the objection raised by the Creditors' Committee.

A hearing on the approval of the Disclosure Statement is scheduled
for Jan. 12, 2015, at 11:00 a.m. (ET).

The Tort Claimants are represented by:

         Frederick B. Rosner, Esq.
         Scott J. Leonhardt, Esq.
         THE ROSNER LAW GROUP LLC
         824 North Market Street, Suite 810
         Wilmington, DE 19801
         Tel: (302) 777-1111
         E-mail: rosner@teamrosner.com
                 leonhardt@teamrosner.com

            -- and --

         William R. Baldiga, Esq.
         BROWN RUDNICK LLP
         Seven Times Square
         New York, NY 10036
         Tel: (212) 209-4800
         Fax: (212) 209-4801
         E-mail: wbaldiga@brownrudnick.com

Wells Fargo is represented by:

         Richard A. Robinson, Esq.
         REED SMITH LLP
         1201 N. Market Street, Suite 1500
         Wilmington, DE 19801
         Tel: (302) 778-7500
         Fax: (302) 778-7575
         E-mail: rrobinson@reedsmith.com

            -- and --

         Harold L. Kaplan, Esq.
         Mark F. Hebbeln, Esquire
         FOLEY & LARDNER LLP
         321 North Clark Street, Suite 2800
         Chicago, IL 60654-5313
         Tel: (312) 832-4500
         Fax: (312) 832-4700
         E-mail: hkaplan@foley.com
                 mhebbeln@foley.com

U.S. Bank is represented by:

         Christopher A. Ward, Esq.
         Justin K. Edelson, Esq.
         POLSINELLI PC
         222 Delaware Avenue, Suite 1101
         Wilmington, DE 19801
         Tel: (302) 252-0920
         Fax: (302) 252-0921
         E-mail: lward@polsinelli.com
                 jedelson@polsinelli.com

            -- and --

         Andrew I. Silfen, Esq.
         Leah M. Eisenberg, Esq.
         Ronni N. Arnold, Esq.
         ARENT FOX LLP
         1675 Broadway
         New York, NY 10019
         Tel: (212) 484-3900
         Fax: (212) 484-3990
         E-mail: andrew.silfen@arentfox.com
                 leah.eisenberg@arentfox.com
                 ronni.arnold@arentfox.com

                    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.

                            *     *     *

In November 2014, the Bankruptcy Court terminated Exide's exclusive
period to propose a Chapter 11 plan.  The Court ordered that any
party-in-interest, including the Official Committee of Unsecured
creditors may file and solicit acceptance of a Chapter 11 Plan.

Exide already has a plan of reorganization in place. Under that
Plan, (a) Reorganized Exide's debt at emergence will comprise: (i)
an estimated $225 million Exit ABL Revolver Facility; (ii) $264.1
million of New First Lien High Yield Notes; (iii) $283.8 million of
New Second Lien Convertible Notes.  The Debtor's non-debtor
European subsidiaries are also expected to have approximately $23
million; (b) The New Second Lien Convertible Notes will be
convertible into 80% of the New Exide Common Stock on a fully
diluted basis; and (c) New Exide Common Stock would be allocated as
follows: 15.0% to Holders of Senior Secured Note Claims after
conversion of the New Second Lien Convertible Notes into New Exide
Common Stock; 3.0% on account of the DIP/Second Lien Conversion
Funding Fee; and 2.0% on account of the DIP/Second Lien Backstop
Commitment Fee.

Exide has entered into an amended and restated plan support
agreement with holders of a majority of the principal amount of its
senior secured notes.

A full-text copy of the Disclosure Statement dated Nov. 17, 2014,
is available at http://bankrupt.com/misc/EXIDEds1117.pdf    

In December 2014, Judge Kevin Carey denied the request of Exide
shareholders for appointment of an official equity holders'
committee.  The shareholders have objected to the Plan.


FIRST FINANCIAL: Merges with Community Bank of Indiana
------------------------------------------------------
Community Bank Shares of Indiana, Inc., acquired on Jan. 1, 2015,
all of the outstanding shares of common stock, par value $1.00 per
share, of First Financial Service Corporation through a statutory
share exchange, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  Also on January 1, First
Financial was merged with and into Community, with Community
continuing as the surviving corporation.  Simultaenously, First
Federal Savings Bank of Elizabethtown, Inc., a wholly-owned
subsidiary of First Financial, merged with and into Your Community
Bank, a wholly-owned subsidiary of Community, with Your Community
Bank continuing as the surviving bank.

At the effective time of the Share Exchange, each issued and
outstanding share of common stock of First Financial, $1.00 par
value per share, converted into the right to receive 0.153 shares
of Community's common stock, $0.10 par value per share, plus cash
for fractional shares.

In connection with the consummation of the Share Exchange and
subsequent merger of First Financial with and into Community, on
Jan. 1, 2015, Community, as successor by merger to First Financial,
requested that the NASDAQ Global Market file a notification on Form
25 with the SEC to request the removal of shares of First Financial
common stock from listing on NASDAQ and from registration under
Section 12(b) of the Securities Exchange Act of 1934.  The Form 25
was filed on Jan. 2, 2015.

At the Effective Time, all directors and executive officers of
First Financial ceased serving in those capacities.

                       About First Financial

Elizabethtown, Kentucky-based First Financial Service Corporation
is the parent bank holding company of First Federal Savings Bank of
Elizabethtown, which was chartered in 1923.  The Bank serves
six contiguous counties encompassing central Kentucky and the
Louisville metropolitan area, through its 17 full-service banking
centers and a commercial private banking center.

As of Sept. 30, 2014, the Company had $753 million in total assets,
$718 million in total liabilities and $34.6 million in total
stockholders' equity.

First Financial reported a net loss attributable to common
shareholders of $313,000 in 2013, a net loss attributable to common
shareholders of $9.44 million in 2012 and a net loss attributable
to common shareholders of $24.21 million in 2011.


FORTESCUE METALS: Bank Debt Trades at 10% Off
---------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 90.08
cents-on-the-dollar during the week ended Friday, January 9, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents decrease of
0.79 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.



FOUNDATION HEALTHCARE: Board Okays 1-for-10 Reverse Stock Split
---------------------------------------------------------------
Foundation HealthCare, which owns and operates surgically focused
hospitals and related ancillary services, made these
announcements:

A. Operational Update:

  * Foundation Surgical Hospital of El Paso, a majority-owned
    hospital, expects its EBITDA (earnings before interest
    expense, taxes, depreciation and amortization) in the 4th
    quarter to exceed the EBITDA reported for the 3rd quarter due
    to an increase in surgeries and additional ancillary income.

  * Foundation Surgical Hospital of San Antonio, a majority-owned
    hospital, announced its plans to expand its facility due to
    the increase in surgical volumes and the addition of new
    physician partners.  Once the expansion is complete the
    facility expects to generate additional 720-1200 surgical
    cases annually.

"Foundation ended 2014 on a very positive note with the continued
financial improvement in our hospital in El Paso.  In addition, the
announcement of the future expansion at our hospital in San Antonio
allows us to accommodate the demand from our current and new
physician partners while remaining focused on providing
high-quality clinical care for the patients we serve," stated
Stanton Nelson, CEO of Foundation HealthCare.

B. Reverse Split:

Foundation HealthCare's Board of Directors approved a 1-for-10
stock split, which will be effective after the close of the market
Thursday.  The reverse split is being executed to enhance the
Company's ability to obtain an initial listing on NYSE MKT or other
major stock exchange in 2015.  The Company also believes that the
reverse stock split and any resulting increase in the per share
price of the Company's common stock will make the Company's common
stock more attractive to a broader range of institutional and other
investors.

The 1-for-10 reverse stock split will automatically convert each 10
shares of the Company's stock issued and outstanding to one new
share of common stock, par value $0.0001 per share.  The reverse
stock split, which was approved by the Company's shareholders on
May 12, 2014, will reduce the number of shares of the Company's
outstanding common stock from approximately 172.6 million, as of
the filing date of the Company's most recent Quarterly Report on
Form 10-Q, to approximately 17.3 million.

No fractional shares will be issued in connection with the reverse
stock split.  The company will round up to the next whole share in
lieu of issuing factional shares that would have been issued in the
reverse split.  For a 20 trading day period immediately following
the reverse split, Foundation's common stock will trade on a
post-split basis on the OTCQB under the trading symbol "FDNHD" as
an interim symbol to denote the reverse split.  After this 20
trading day period, Foundation's common stock will resume trading
on the OTCQB under the symbol "FDNH."  In addition, the common
stock will also trade under a new CUSIP number effective Jan. 9,
2015.

Computershare is the company's transfer agent and will be acting as
the exchange agent for the purpose of implementing any exchange of
stock certificates in connection with the reverse split.
Stockholders who have existing stock certificates will receive
instructions from the transfer agent.  Stockholders who hold their
shares in brokerage accounts or "street name" are not required to
take any action to effect the exchange of their shares.

Further information on the logistics regarding the reverse split
can be obtained by contacting Computershare at 1-800-884-4225.

                    About Foundation Healthcare

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

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

Foundation Healthcare reported a net loss attributable to
Foundation Healthcare common stock of $20.4 million on $93.1
million of revenues for the year ended Dec. 31, 2013, as compared
with net income attributable to Foundation Healthcare common stock
of $2.45 million on $53.0 million of revenues in 2012.

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


FREEDOM INDUSTRIES: Executives Charged in Spill Plead Not Guilty
----------------------------------------------------------------
The Associated Press reported that three executives charged in a
West Virginia chemical spill pleaded not guilty in federal court
Thursday, the same day the state attorney general's office released
investigation results finding that a plant manager had warned years
ago of "a potential catastrophic failure" if repairs weren't made.

According to the AP, pleas also came a day after the unsealing of
an FBI affidavit that said Freedom Industries knew about critical
flaws at its Charleston plant, but never dealt with them.  The
company didn't craft required spill plans, the affidavit said, the
report related.

                      About Freedom Industries

Freedom Industries Inc., is engaged principally in the business of
producing specialty chemicals for the mining, steel and cement
industries.  The Debtor operates two production facilities located
in (a) Nitro, West Virginia; and (b) Charleston, West Virginia.

The company, connected to a chemical spill that tainted the water
supply in West Virginia, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Case No. 14-bk-20017) on
Jan. 17, 2014.  The case is assigned to Judge Ronald G. Pearson.
The petition was signed by Gary Southern, president.

The Debtor is represented by Mark E Freedlander, Esq., at McGuire
Woods LLP, in Pittsburgh, Pennsylvania; and Stephen L. Thompson,
Esq., at Barth & Thompson, in Charleston, West Virginia.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.  The Committee retained Frost Brown Todd
LLC as counsel.

On March 18, 2014, the Bankruptcy Court approved the hiring of
Mark Welch at MorrisAnderson in Chicago as Freedom's chief
restructuring officer.


FREESEAS INC: Issues $500,000 Convertible Notes to Himmil
---------------------------------------------------------
FreeSeas Inc. has sold to Himmil Investments Ltd., a non-U.S.
investor, a $500,000 convertible promissory note, which matures a
year from issuance and accrues interest at the rate of 8% per
annum.  The investor is entitled at any time to convert into common
stock any portion of the outstanding and unpaid principal and
accrued interest, provided that such conversion does not cause it
to own more than 4.99% of the common stock of the Company, into
shares of Common Stock.  The conversion price is the lower of (i)
$0.452 and (ii) 60% of the lowest daily VWAP on any trading day
during the twenty-one consecutive trading days prior to conversion.
Upon prior notice, the Company may prepay the Investor in cash,
for 127.5% of any outstanding principal and interest remaining on
the note.

Mr. Ion G. Varouxakis, chairman, president and CEO said, "This
investment strengthens the cash liquidity of the Company at a time
when freight rates are depressed and opportunities flourish for
vessel acquisitions at depressed values.  We look forward to
successfully leveraging our existing unencumbered assets in order
to take advantage of emerging opportunities in the sector.  The
announced transaction is part of our strategy of bringing together
the catalysts required for fleet growth, which will lead to
improved earnings and eventually restoring shareholder value."

                        About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

FreeSeas Inc. reported a net loss of $48.7 million in 2013, a net
loss of $30.88 million in 2012 and a net loss of $88.2 million in
2011.  The Company's balance sheet at March 31, 2014, showed
$79.8 million in total assets, $77.4 million in total
liabilities, all current, and $2.37 million in total shareholders'
equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company has
incurred recurring operating losses and has a working capital
deficiency.  In addition, the Company has failed to meet scheduled
payment obligations under its loan facilities and has not complied
with certain covenants included in its loan agreements.
Furthermore, the vast majority of the Company's assets are
considered to be highly illiquid and if the Company were forced to
liquidate, the amount realized by the Company could be
substantially lower that the carrying value of these assets.
These conditions among others raise substantial doubt about the
Company's ability to continue as a going concern.



GATES GROUP: Bank Debt Trades at 3% Off
---------------------------------------
Participations in a syndicated loan under which Gates Group is a
borrower traded in the secondary market at 97.50 cents-on-the-
dollar during the week ended Friday, January 9, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase 0.43 of
percentage points from the previous week, The Journal relates.
Gates Group pays 325 basis points above LIBOR to borrow under the
facility.  The bank loan matures on June 18, 2021, and carries
Moody's B2 rating and Standard & Poor's B+ rating.  The loan is one
of the biggest gainers and losers among 264 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



GETTY IMAGES: Bank Debt Due October 2019 Trades at 9% Off
---------------------------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 91.25 cents-on-
the-dollar during the week ended Friday, January 9, 2015, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.92
percentage points from the previous week, The Journal relates.
Getty Images Inc. pays 350 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Oct. 14, 2019, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



GOLDEN LAND: Gregory Messer Named as Chapter 11 Trustee
-------------------------------------------------------
The Hon. Nancy Hershey Lord of the U.S. Bankruptcy Court for the
Eastern District of New York authorized William K. Harrington, the
United States Trustee for Region 2, to appoint Gregory Messer,
Esq., as Chapter 11 trustee for the estate of Golden Land LLC.

Counsel to the U.S. Trustee has consulted with these parties in
interest regarding the appointment of the Chapter 11 trustee:

   A) Dawn Kirby Arnold, Esq., bankruptcy counsel to the Golden
      Land LLC; and

   B) Tracy L. Klestadt, Esq., attorney for secured creditor 37
      Avenue Realty Associates, LLC.

To best of the U.S. Trustee's knowledge, Mr. Messer's connections
with the Debtor, creditors and any other parties in interest, their
respective attorneys and accountants, the U.S. Trustee, and persons
employed in the Office of the United States Trustee are limited.

Mr. Messer can be reached at:

   Gregory Messer, Esq.
   The Law Office of Gregory Messer
   26 Court Street, Suite 2400
   Brooklyn, NY 11242
   Tel: 718-717-2368
   Fax: 718-797-5360

                       About Golden Land LLC

Golden Land LLC owns real property located at 142-21/27 37th
Avenue, Queens, New York.  The premises is commercial investment
property, consisting of four commercial condominium units,
twenty-nine parking spaces, and eleven residential condominium
units contained in the building known as the American-Chinese Tower
Condominium and located at 142-21/27 37th Avenue, Queens, New
York.

Using financing from Chinatrust Bank, the Debtor constructed the
building in 2003 and sold 19 units over the next several years
before falling into default with its lender at the time.
Chinatrust thereafter commenced a foreclosure action in 2012, and
sometime shortly thereafter sold the loan and underlying loan
documents to 37 Avenue Realty Associates LLC.  In the foreclosure
action, Lawrence Litwack was appointed receiver.

Golden Land LLC filed for Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 14-42315) in Brooklyn, New York, on May 8, 2014.
The Debtor disclosed $15,423,997 in assets and $13,459,740 in
liabilities as of the Chapter 11 filing.

Judge Nancy Hershey Lord on July 9, 2014, entered an order
directing that the receiver remain in possession of the premises.

Xiangan Gong, Esq., at Xiangan Gong serves as the Debtor's counsel.


HOLLY HILL: Asks Court to Extend Deadline to Remove Suits
---------------------------------------------------------
The bankruptcy trustee of Holy Hill Community Church has filed a
motion seeking additional time to remove lawsuits involving the
Protestant church.

In his motion, Richard Laski asked the U.S. Bankruptcy Court for
the Central District of California to move the deadline for filing
notices of removal of the lawsuits to April 30, 2015.

The trustee said the church is going to conduct a sale of its real
property located in Los Angeles, California, and is targeting an
April 10, 2015 deadline to complete the deal.  

"The sale of the property will have a direct impact on and may moot
most of the actions," Mr. Laski said in the court filing.

The motion is on Judge Julia Brand's calendar for Feb. 5, 2015.

                         About Holy Hill

Holly Hill Community Church, aka Holy Hill Community Church, a
protestant church in Los Angeles, filed for Chapter 11 protection
(Bankr. C.D. Cal. Case No. 14-21070) on June 5, 2014.  In its
Petition, Holly Hill, a California non-profit corporation
incorporated for the purposes of conducting religious activities as
a protestant Christian church, disclosed $35.4 millionin total
assets and $16.7 million in total liabilities.

John Jenchun Suh, the pastor and CEO of the church, signed the
bankruptcy petition.  W. Dan Lee of the Lee Law Offices, in Los
Angeles, is representing the Debtor as counsel.  Judge Julia W.
Brand presides over the case.

Richard J. Laski has been appointed to serve as Chapter 11 trustee
in the Debtor's case.  The Trustee has tapped Arent Fox LLP to
serve as his bankruptcy counsel, and Wilshire Partners of CA, LLC,
as accountant.


HUB INTERNATIONAL: Bank Debt Trades at 3% Off
---------------------------------------------
Participations in a syndicated loan under which Hub International
LTD is a borrower traded in the secondary market at 96.65 cents-
on-the-dollar during the week ended Friday, January 9, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.25 percentage points from the previous week, The Journal relates.
Hub International LTD pays 325 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 2, 2020, and
carries Moody's B1 rating and Standard & Poor's B rating.  The loan
is one of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



HUTCHESON MEDICAL: Files Schedules & Statements
-----------------------------------------------
Hutcheson Medical Center Inc. filed with the Bankruptcy Court for
the Northern District of Georgia its schedules of assets and
liabilities, and statement of financial affairs, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $12,750,000
  B. Personal Property           $20,079,028
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $26,686,206
  E. Creditors Holding
     Unsecured Priority
     Claims                                        $3,209,447
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $8,683,141
                                 -----------      -----------
        TOTAL                    $32,829,028      $52,913,484

A full-text copy of schedules and statements is available for free
at http://is.gd/Z6FkSs

                  About Hutcheson Medical Center

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

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

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

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

The Debtors' Chapter 11 Plan and Disclosure Statement are due March
20, 2015.

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

No request has been made for the appointment of a trustee or
examiner.


IMH FINANCIAL: Obtains $5-Mil. Credit Facility From SRE Monarch
---------------------------------------------------------------
IMH Financial Corporation disclosed in a regulatory filing with the
U.S. Securities and Exchange Commission that it entered into a loan
agreement with SRE Monarch Lending, LLC, for a non-revolving credit
facility in an amount not to exceed $5 million and, on Dec. 31,
2014, pursuant to the Company's promissory note delivered under the
SRE Facility, the Company drew down the full amount of the SRE
Facility.  The Company used the proceeds under the SRE Facility to
make a scheduled payment under the Company's senior indebtedness to
NWRA Ventures I, LLC.  SRE Monarch is a related party of Seth
Singerman, one of the Company's directors.

The SRE Note matures on the 91st day after full repayment of the NW
Capital Senior Loan, and all advanced amounts under the SRE
Facility, including accrued interest and outstanding fees, are
payable on the maturity date.  The SRE Note bears interest at a per
annum base rate of 16%, and is subject to increase in the event the
SRE Note is not repaid in full on or prior to Oct. 22, 2015.  The
Company paid a structuring fee of $100,000 and agreed to pay a
facility use fee, facility exit fee and certain other customary
fees, costs and expenses in connection with the SRE Facility.  The
Company expects to fully satisfy its obligations under the SRE
Facility with the proceeds from a contemplated refinancing of the
NW Capital Senior Loan as set forth in the SRE Facility loan
agreement.

The SRE Facility contains customary affirmative and negative
covenants, including covenants that limit or restrict the Company's
and its subsidiaries' ability to, among other things, make new
investments, incur additional indebtedness, merge or consolidate,
dispose of assets, and pay dividends, in each case subject to
certain exceptions.  The SRE Facility also contains events of
default that include, among other things, payment defaults,
inaccuracy of representations and warranties, covenant defaults,
certain cross defaults with respect to material indebtedness,
bankruptcy and insolvency defaults, and material judgment defaults.
The occurrence of an event of default could result in a default
interest rate that will apply on all obligations during the
existence of an event of default at a rate equal to 25.0%.

                        About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

IMH Financial reported a net loss of $26.2 million in 2013, a net
loss of $32.2 million in 2012 and a net loss of $35.2 million in
2011.

As of Sept. 30, 2014, the Company had $199 million in total
assets, $97.6 million in total liabilities, $26.8 million in
redeemable convertible preferred stock, and $75.1 million in total
stockholders' equity.


IMPAX LABS: FDA Approval of Rytary No Impact on Moody's B1 Rating
-----------------------------------------------------------------
Moody's Investors Service commented that the Food and Drug
Administration's (FDA) approval of Rytary is a credit positive for
Impax Laboratories, Inc. (B1 Stable). Rytary was Impax's most
important pipeline drug and over time Moody's expect it to add
meaningfully to Impax's revenue and cash flow. There is no change
to Impax's rating or outlook at this time.

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

In October 2014, Impax announced the acquisition of Tower Holdings,
Inc., (including operating subsidiaries CorePharma LLC, and Amedra
Pharmaceuticals LLC) and Lineage Therapeutics, Inc. (together
"CorePharma"), a privately-held generic and branded drug
manufacturer.



INNER CITY: Case Dismissed, GCG, Inc.'s Services Terminated
-----------------------------------------------------------
Bankruptcy Judge Shelley C. Chapman dismissed the Chapter 11 cases
of Inner City Media Corporation, et al.

Judge Chapman also ordered that:

   -- all parties are barred from asserting any claims against (a)
the Debtors, (b) the senior lenders, (c) the agent, (d) the
purchasers in the sale transactions and (e) the directors,
officers, employees, attorneys, consultants, advisors and agents;

   -- the Debtors will pay to the U.S. Trustee the appropriate sum
required pursuant to 28 U.S.C. Section 1930(a)(6) and 31 U.S.C.
Section 3717; and

   -- the services of GCG, Inc., to act as the claims and noticing
agent in these chapter 11 cases are terminated, effective 30 days
after the entry of the order.

As reported in the Troubled Company Reporter on Oct. 29, 2014,
according to the Debtors' case docket, the motion was filed on July
28, and an initial hearing was scheduled for Sept. 8.

                         About Inner City

On Aug. 23, 2011, affiliates of Yucaipa and CF ICBC LLC, Fortress
Credit Funding I L.P., and Drawbridge Special Opportunities Fund
Ltd., signed involuntary Chapter 11 petitions for Inner City Media
Corp. and its affiliates (Bankr. S.D.N.Y. Case Nos. 11-13967 to
11-13979) to collect on a $254 million debt.

The Petitioning Creditors are party to the senior secured credit
Facility pursuant to which they (or their predecessors in
interest) extended $197 million in loans to the Alleged Debtors to
be used for general corporate purposes.  More than two years ago,
the Alleged Debtors defaulted under the Senior Secured Credit
Facility, and in any event the entire amount of principal and
accrued and unpaid interest and fees became immediately due and
payable on Feb. 13, 2010.

Inner City Media's affiliates subject to the involuntary Chapter
11 are ICBC Broadcast Holdings, Inc., Inner-City Broadcasting
Corporation of Berkeley, ICBC Broadcast Holdings-CA, Inc., ICBC-
NY, L.L.C., ICBC Broadcast Holdings-NY, Inc., Urban Radio, L.L.C.,
Urban Radio I, L.L.C., Urban Radio II, L.L.C., Urban Radio III,
L.L.C., Urban Radio IV, L.L.C., Urban Radio of Mississippi,
L.L.C., and Urban Radio of South Carolina, L.L.C.

Judge Shelley C. Chapman granted each of Inner City Media
Corporation and its debtor affiliates relief under Chapter 11 of
the United States Code.  The decision came after considering the
involuntary petitions, and the Debtors' answer to involuntary
petitions and consent to entry of order for relief and reservation
of rights.

Attorneys for Yucaipa Corporate Initiatives Fund II, L.P. and
Yucaipa Corporate Initiatives (Parallel) Fund II, L.P. are John J.
Rapisardi, Esq., and Scott J. Greenberg, Esq., at Cadwalader,
Wickersham & Taft LLP.  Attorneys for CF ICBC LLC, Fortress Credit
Funding I L.P., and Drawbridge Special Opportunities Fund Ltd. are
Adam C. Harris, Esq., and Meghan Breen, Esq., at Schulte Roth &
Zabel LLP.

Akin Gump Strauss Hauer & Feld LLP served as the Debtors' counsel.

Rothschild Inc. serves as the Debtors' financial advisors and
investment bankers.  GCG Inc. serves as the Debtors' claims agent.

The United States Trustee said that an official committee under
11 U.S.C. Sec. 1102 has not been appointed in the bankruptcy case
of Inner City Media because an insufficient number of persons
holding unsecured claims against the Debtor has expressed interest
in serving on a committee.


INTERLEUKIN GENETICS: Pyxis Reports 21.8% Stake as of Dec. 23
-------------------------------------------------------------
Pyxis Innovations Inc. and its affiliates disclosed in an amended
regulatory filing with the U.S. Securities and Exchange Commission
that as of Dec. 23, 2014, they beneficially owned 37,565,478 shares
of common stock of Interleukin Genetics, Inc., representing 21.8
percent based on 172,683,342 shares of its common stock outstanding
as of Dec. 23, 2014.  A copy of the regulatory filing is available
for free at http://is.gd/c1mwhC

                         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
$937,000 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. 31, 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."


ISTAR FINANCIAL: BlackRock Owns 11.4% Stake at Dec. 31
------------------------------------------------------
BlackRock, Inc., disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Dec. 31, 2014, it
beneficially owned 10,109,809 shares of common stock of Istar
Financial Inc. representing 11.4 percent of the shares outstanding.
A copy of the regulatory filing is available for free at
http://is.gd/oGhVYt

                        About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

iStar Financial incurred a net loss allocable to common
shareholders of $155.76 million in 2013, a net loss allocable to
common shareholders of $272.99 million in 2012, and a net loss
allocable to common shareholders of $62.38 million in 2011.

As of Sept. 30, 2014, the Company had $5.48 billion in total
assets, $4.20 billion in total liabilities, $11.35 million in
redeemable noncontrolling interests, and $1.26 billion in total
equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


JAMES RIVER: Can Tap Great American as Independent Sales Consultant
-------------------------------------------------------------------
James River Coal Company, et al, sought and obtained approval from
the Bankruptcy Court to enter into a consulting agreement pursuant
to which Great American Global Partners, LLC, will serve as their
independent consultant in connection with the sale of their
machinery and equipment.

In August last year, the Court authorized the sale of a substantial
portion of the Debtors' assets to JR Acquisition, LLC, a wholly
owned subsidiary of Blackhawk Mining LLC.  Since then, the Debtors
and their professionals continued their efforts to market and sell
the remaining assets.  As a result of those efforts, the Debtors
filed a notice on Dec. 22, 2014, indicating that they have selected
Revelation Energy, LLC, as a stalking horse bidder for certain of
their remaining assets.

Certain equipment is excluded from the assets that are proposed to
be purchased by Revelation Energy.  The Debtors believe that the
aggregate value of the excluded equipment is equal to $7 million.
The Debtors relate that because they will no longer operate any
mining complexes following the consummation of the sale of their
assets to Revelation Energy, the excluded equipment will have no
further use to them.

The Debtors assert that the Consulting Agreement guarantees a
recovery to them of at least $4.55 million in connection with the
sale of the excluded equipment, of which $2 million will be
advanced to the Debtors upon payment in full in cash of the
outstanding DIP financing obligations.

Pursuant to the Consulting Agreement, Great American will, among
other things, provide full time supervisors to supervise and
conduct the sale; and oversee the liquidation and disposal of the
assets from the Debtors' Grethel, Kentucky facility.

The material terms of the Consulting Agreement are:

   a. The Guaranteed Amount. Great American will pay the Debtors a
Guaranteed Amount -- irrespective of the actual proceeds of the
sales of the Excluded Equipment -- in the amount of $4,550,000.

   b. The Advance and Security Interest.  Great American will
advance $2,000,000 against the Guaranteed Amount upon payment in
full in cash of the outstanding DIP Obligations.

   c. Base Fee.  After sufficient proceeds have been collected from
the sale of the Assets to first reimburse the Advance, if any, and
then pay the Guaranteed Amount to the Debtors, Consultant will be
entitled to be paid the next available proceeds in the amount of an
additional $400,000 to reimburse the payment of Sale Expenses and
as a base fee.

   d. Sale Expenses.  Sale Expenses will be subtracted from the
proceeds of sale.

   e. Additional Proceeds. Any additional proceeds (i) after $4.95
million and up to and including $7.00 million will be divided 85%
to the Company and 15% to Consultant, (ii) after $7.00 million and
up to and including $7.94 million will be divided 80% to the
Company and 20% to the Consultant, and (iii) after $7.94 million
will be divided 75% to the Company and 25% to Consultant.

Conditions precedent include:

   i. The Court will have entered an order approving the relief
requested no later than Jan. 15, 2015.

  ii. The occurrence of the closing of the sale contemplated by
that certain Asset Purchase Agreement among the Company, Revelation
Energy, LLC and certain subsidiaries of the Company, dated Dec. 22,
2014, to Revelation or a sale of the same assets contemplated to
another purchaser on substantially the same terms.

                        About James River

James River Coal Company is a producer and marketer of coal in the
Central Appalachia ("CAPP") and the Midwest coal regions of the
United States.  James River's principal business is the mining,
preparation and sale of metallurgical coal, thermal coal (which is
also known as steam coal) and specialty coal.

James River and 33 of its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. E.D. Va. Case Nos. 14-31848 to 14-31886) in
Richmond, Virginia, on April 7, 2014.  The petitions were signed
by Peter T. Socha as president and chief executive officer.
Judge Kevin R. Huennekens oversees the Chapter 11 cases.

On the petition date, James River Coal disclosed total assets of
$1.06 billion and total liabilities of $818.6 million.

The Debtors are represented by Tyler P. Brown, Esq., Henry P.
(Toby) Long, III, Esq., and Justin F. Paget, Esq. at Hunton &
Williams LLP of Richmond, VA and Marwill S. Huebner, Esq, Brian
M. Resnick, Esq., and Michelle M. McGreal, Esq. at Davis Polk &
Wardwell LLP of New York, NY.  Kilpatrick Townsend & Stockton LLP
serves as the Debtors' special counsel.  Perella Weinberg Partners
L.P. is the Debtors' financial advisor.  Deutsche Bank Securities
Inc. serves as the Debtors' investment banker and M&G advisor.
Epiq Bankruptcy Solutions, LLC, acts as the debtors' notice,
claims and administrative agent.

The U.S. Trustee for Region 4 has appointed five creditors to the
Official Committee of Unsecured Creditors.  Michael S. Stamer,
Esq., Alexis Freeman, Esq., and Jack M. Tracy II, Esq., at Akin
Gump Strauss Hauer & Feld LLP; and Jonathan L. Gold, Esq.,
Christopher L. Perkins, Esq., and Christian K. Vogel, Esq., at
LeClairRyan.

The Debtors, in August 2014, won authority to sell the Hampden
Mining Complex (including the assets of Logan & Kanawha Coal
Company, LLC), the Hazard Mining Complex (other than the assets of
Laurel Mountain Resources LLC) and the Triad Mining Complex for
$52 million plus the assumption of certain environmental and other
liabilities, to a unit of Blackhawk Mining.  The Buyer is
represented by Mitchell A. Seider, Esq., and Charles E. Carpenter,
Esq., at Latham & Watkins LLP.


JB VEGA CORPORATION: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: JB Vega Corporation
        498 W Borgefd Dr
        San Antonio, TE 78260

Case No.: 15-50123

Chapter 11 Petition Date: January 8, 2015

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Hon. Craig A. Gargotta

Debtor's Counsel: Lorenzo W. Tijerina, Esq.
                  LAW OFFICE OF LORENZO W. TIJERINA
                  1911 Guadalupe Street
                  San Antonio, TX 78207-5438
                  Tel: (210) 231-0112
                  Fax: (210) 212-7215
                  Email: tasesq@msn.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Carl Miller, secretary and director.

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


JEFFREY POTTER: Dismissal of Legal Malpractice Case Upheld
----------------------------------------------------------
The Supreme Court of New Mexico affirmed the dismissal of the legal
malpractice lawsuit, JEFFREY POTTER, Plaintiff-Petitioner, v. CHRIS
PIERCE, WILLIAM DAVIS, DAVIS & PIERCE, P.C., and JOHN DOE LAW FIRM,
Defendants-Respondents, NO. 34,365 (N.M.).

"In this case, we examine the preclusive effect of a fee proceeding
in bankruptcy court on a later lawsuit for legal malpractice
allegedly committed in the course of the bankruptcy.  We hold that
the elements of res judicata are met and that Petitioner was
sufficiently aware of his malpractice claim, which he could and
should have brought in the bankruptcy proceeding. We affirm the
dismissal of Petitioner's subsequent malpractice suit but emphasize
that barring a claim on res judicata grounds requires a
determination that the claimant had a full and fair opportunity to
litigate the claim in the earlier proceeding," the state Supreme
Court said in its January 8, 2015 Opinion available at
http://is.gd/9EsSpkfrom Leagle.com.

Jeffrey Watson Potter filed a voluntary petition of bankruptcy
under Chapter 11 of the Bankruptcy Code on May 19, 2005 (Bankr. D.
N.M. Case No. 05-14071).  The case was converted to Chapter 7
liquidation on Nov. 17, 2006, and Yvette Gonzales was appointed as
the Chapter 7 Trustee of Mr. Potter's bankruptcy estate.


KIOR INC: Jan. 23 Hearing on Disclosure Statement Approval
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will convene
a hearing on Jan. 23, 2015, at 11:00 a.m., to consider approval of
disclosure statement for KiOR Inc.'s Chapter 11 Plan of
Reorganization.  Objections are due by Jan. 16.

As previously reported by the TCR, Kior Inc. filed a Chapter 11
plan, which proposes that all of the Debtor's existing equity
interests will be cancelled and the Debtor will issue new equity
interests to the holders of DIP financing claims and prepetition
first lien claims in exchange for the cancellation of $16 million
of indebtedness.

Subject to the auction, the Reorganized Debtor will be funded
through an exit facility consisting of a new term loan and a
conversion of $15.3 million of the DIP financing claims and the
Debtor's prepetition First Lien Claims.

All general unsecured creditors whose allowed claims total less
than $5,000, or who agree to reduce all their Allowed unsecured
claims to $5,000, will be entitled to opt in and receive, in lieu
of the treatment accorded to the holders of general unsecured
claims, a single payment equal to 50% of the total of their
Allowed Claims; provided, however, that in no event will the
aggregate amount of all payments on account of claims in this
Class (Class 8) exceed $75,000.

                          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 million 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: Terminates Employee Stock Purchase Plan
-------------------------------------------------
Kior Inc. sought and obtained authority from Judge Christopher S.
Sontchi of the U.S. Bankruptcy Court for the District of Delaware
to terminate its employee stock purchase plan and distribute funds
it holds as part of its ESPP to the applicable employees who
deposited those funds.

The Debtor told the Court that it is terminating the ESPP given its
current financial situation and the lack of continuing interest
from employees.  As of Dec. 3, 2014, the Employee Funds total
approximately $17,522.

                          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 $58.3 million in assets and $261 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 million 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.


LAKESIDE 370: Disclosure Statement Hearing Set for Jan. 26
----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri is
set to hold a hearing on Jan. 26 to consider approval of the
outlines of Lakeside 370 Levee District's Chapter 9 plan.

Lakeside 370, the St. Peters levee district that sold $33.9 million
in bonds to buy a 4.5-mile levee, filed on Dec. 15, 2014, a
disclosure statement that details how it will pay off claims and
implement its proposed plan.

Under the proposed plan, general unsecured creditors will receive
cash from the levee district after full payment of all unsecured
priority claims.

Each holder of unsecured priority claim will receive cash unless it
agrees to a different treatment while secured creditors will retain
their liens in the levee district's assets, according to the
disclosure statement.

Meanwhile, the indebtedness on the bonds issued by the levee
district will be refinanced through the creation of two
subdistricts.  Each subdistrict will assume a portion of the debt,
which will be paid from the levee district's post-confirmation
assessment revenues and the proceeds received from the sale of
District Owned Acreage.

The total principal amount due to the holders of the bonds is
$33.64 million, according to the filing.

The levee district will continue to exist after approval of its
plan and will retain ownership of the District Owned Acreage to the
extent the property is not transferred.  It will continue its
operations under the management of its Board of Supervisors.

A full-text copy of the disclosure statement is available for free
at http://is.gd/NL1fuw

                 About Lakeside 370 Levee District

In May 2006, the Circuit Court of St. Charles County entered an
order creating Lakeside 370 Levee District as a levee district
formed by and according to law.  The district was formed for the
purpose of protecting land within the boundaries of the levee
district, which consists of 1,270 acres of land on the north and
south sides of Interstate Highway 370 in St. Charles County, in the
State of Missouri.  Lakeside 370 has the right, power, duty,
and authority under Chapter 245 R.S.Mo. to levy assessments upon
the land within the District.

Lakeside 370 sought bankruptcy protection under Chapter 9 of the
Bankruptcy Code on Aug. 1, 2014 (Bankr. E.D. Mo. Case No. 14-46094)
in St. Louis, Missouri.

The Debtor has tapped attorneys at Goldstein and Pressman, P.C., as
counsel.

The Debtor estimated assets and debt of $10 million to $50
million.

Ryan D. Hodges, the president, signed the bankruptcy petition.


LIBERTY HARBOR: Files 2nd Amended Chap. 11 Plan
-----------------------------------------------
Liberty Harbor Holding, LLC, et al., filed with the U.S. Bankruptcy
Court for the District of New Jersey a second amended disclosure
statement and joint plan of reorganization ahead of its Jan. 27
confirmation hearing.

Pursuant to the Plan, to the extent required, the Moccos and
entities controlled by the Moccos will provide the Debtors with
the funding necessary to consummate the Plan, including, but not
limited to, all payments due under the Kerrigan Settlement.  The
Moccos have already advanced the Debtors the sum of $3 million,
which amounts were necessary to deliver the initial two payments
under the Kerrigan Settlement Agreement between the Debtors, the
JCRA, the City of Jersey City and the Kerrigans.

A full-text copy of the Disclosure Statement dated Dec. 24, 2014,
is available at http://bankrupt.com/misc/LIBERTYds1224.pdf

                       About Liberty Harbor

Jersey City, New Jersey-based Liberty Harbor Holding, LLC, along
with two affiliates, sought Chapter 11 protection (Bankr. D.N.J.
Lead Case No. 12-19958) in Newark on April 17, 2012.  Each of the
Debtors is solely owned by Peter Mocco.

Liberty, as of April 16, 2012, had total assets of $350.08
million, comprising of $350 million of land, $75,000 in accounts
receivable and $458 cash.  The Debtor says that it has
$3.62 million of debt, consisting of accounts payable of $73,500
and unsecured non-priority claims of $3,540,000.  The Debtor's
real property consists of Block 60, Jersey City, NJ 100% ownership
Lots 60, 70, 69.26, 61, 62, 63, 64, 65, 25H, 26A, 26B, 27B, 27D.
Affiliates that filed separate petitions are: Liberty Harbor II
Urban Renewal Co., LLC (Case No. 12-19961) and Liberty Harbor
North, Inc. (Case No. 12-19964).  The three cases are
administratively consolidated.

Judge Novalyn L. Winfield presides over the case.  Wasserman,
Jurista & Stolz, P.C. serves as insolvency counsel and Scarpone &
Vargo serves as special litigation counsel.  The petition was
signed by Peter Mocco, managing member.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed three
creditors to the Official Committee of Unsecured Creditors in the
Chapter 11 cases of the Debtor.


LIBERTY TIRE: S&P Lowers CCR to 'CCC-' & Puts Rating on Watch Neg.
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Pittsburgh, Pennsylvania-based Liberty Tire
Recycling Holdco LLC to 'CCC-' from 'B-' and placed the ratings on
CreditWatch with negative implications.

At the same time, S&P lowered the rating on the company's senior
unsecured notes to 'CCC-' from B-'.  The recovery rating is '4',
indicating S&P's expectation of average (30% to 50%) recovery if a
default occurs.

The 'CCC-' corporate credit rating reflects S&P's view that there
is heightened probability that Liberty could undergo a distressed
exchange, redemption, or default unless the company obtains a
significant equity infusion to reduce debt and increase liquidity
in the interim. Liberty's liquidity is limited, as the company's
breach of its financial covenants in the third quarter of 2014 has
rendered its $75 million revolving facility inaccessible; the
company relies on the proceeds obtained from a $10.1 million term
loan from one of its lenders to fund its day-to-day operations. The
company is operating under a forbearance agreement expiring Jan.
30, 2015, and has engaged financial advisory firms to develop a
financial restructuring plan.

"The company has taken steps to reduce costs, including
renegotiating contracts and developing plans to close plants and to
reduce capital spending.  However, we believe the company's credit
measures are unlikely to improve significantly absent a
restructuring," said Standard & Poor's credit analyst James
Siahaan.

S&P considers an exchange offer as distressed, or tantamount to
default, if (1) the offer, in our view, implies the investor will
receive less value than the promise of the original securities and
(2) the offer, in S&P's view, is distressed rather than purely
opportunistic.  Per S&P's criteria, it would value an offer at less
than the original promise if the amount offered is less than the
original par amount, the interest rate is lower than the original
yield, or if the new securities' maturities extend beyond the
original, among other factors, without offsetting compensation.

The negative CreditWatch listing reflects the residual uncertainty
or risk that Liberty could announce a distressed exchange,
redemption, or default of its debt within the next three months, as
the company has retained financial advisory firms to formulate a
financial restructuring plan.  It also reflects the risk of
nonpayment of other debts, including debt under its revolving
facility due April 1, 2016 and the senior unsecured notes due
Oct. 1, 2016.

If the interest payment on the 2016 notes is not made within the
grace period, S&P would downgrade Liberty to 'D'.  Any notice of
nonpayment of bank debt and any new position of the senior
noteholders over a default event could also trigger a downgrade to
'D'.



LPATH INC: Franklin Resources Reports 10.8% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Franklin Resources, Inc., and its affiliates
disclosed that as of Dec. 31, 2014, they beneficially owned
2,085,205 shares of common stock of LPath, Inc., representing 10.8
percent of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/J4cuZX

                            About LPath

San Diego, Calif.-based Lpath, Inc. is a biotechnology company
focused on the discovery and development of lipidomic-based
therapeutics, an emerging field of medical science whereby
bioactive lipids are targeted to treat human diseases.

LPath reported a net loss of $6.56 million in 2013, a net loss of
$2.75 million in 2012, and a net loss of $3.11 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $26.7 million
in total assets, $4.73 million in total liabilities, and $21.9
million in total stockholders' equity.


MACKEYSER HOLDINGS: Gets Approval to Sell Eyewear Inventory
-----------------------------------------------------------
Mackeyser Holdings LLC received approval from the U.S. Bankruptcy
Court in Delaware to sell certain eyewear inventory pursuant to its
agreement with Tiger Remarketing Services.

Under the agreement, Tiger will conduct an online auction of the
inventory and will receive a 15% buyers' premium on all sales as
compensation.

Fifty percent of the proceeds from the sales will be paid to Sam
Vaziri Vance Inc., which holds an administrative expense claim
against Mackeyser.

Mackeyser previously sought to sell the inventory to Emerging
Vision Inc., the buyer of 10 The Eye Gallery stores and The Artful
Eye stores it owns.   The companies, however, were not able to
reach an agreement, according to court filings.

                    About MacKeyser Holdings

MacKeyser Holdings, LLC and its operating affiliates -- American
Optical Services, LLC, and Exela Hearing Services, LLC -- manage
integrated eye care and hearing systems providers with over 80
optical retail, optometry and ophthalmology locations in 14 states.
Within certain of the Company's locations, dedicated audiology and
dispensing staff conduct diagnostics, fitting and dispensing of
hearing systems.

MacKeyser Holdings, LLC, American Optical Services, Inc. and their
affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Case
Nos. 14-11528 to 14-11550) on June 20, 2014.  David R. Hurst, Esq.,
and Marion M. Quirk, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, PA.  The Debtors' financial advisor is GlassRatner
Advisory & Capital Group.  The investment banker is Hammond Hanlon
Camp LLC.  The noticing and claims management agent is American
Legal Claim Services, LLC.

In its petition, MacKeyser Holdings estimated $50 million to
$100 million in both assets and liabilities.

The petitions were signed by Thomas J. Allison, authorized
officer.

The Official Committee of Unsecured Creditors retained Cooley LLP
as lead counsel; Klehr Harrison Harvey Branzburg LLP as co-counsel;
and Giuliano, Miller & Company, LLC as financial advisor.


MACKEYSER HOLDINGS: Gets Approval to Settle Essilor's Claims
------------------------------------------------------------
Mackeyser Holdings LLC received court approval for a deal that
would resolve Essilor's claims against the company.

Under the settlement, Essilor will get a $3.75 million secured
claim and a $3.16 million general unsecured claim.  In return,
Essilor agreed to support Mackeyser's liquidation plan and
cooperate with the company when it pursues a case against a
shareholder.

Essilor holds a general unsecured claim for laboratory services and
goods it provided to Mackeyser before it filed for bankruptcy
protection.  Meanwhile, its secured claim stemmed from the $4
million loan it extended to the company, which is secured by liens
on assets owned and used by the company for its The Eye Gallery
business.  

In September last year, Mackeyser sold its The Eye Gallery business
to Emerging Vision Inc. for $4.925 million, of which $4.05 million
was segregated to satisfy Essilor's secured claim.  

                    About MacKeyser Holdings

MacKeyser Holdings, LLC and its operating affiliates -- American
Optical Services, LLC, and Exela Hearing Services, LLC -- manage
integrated eye care and hearing systems providers with over 80
optical retail, optometry and ophthalmology locations in 14 states.
Within certain of the Company's locations, dedicated audiology and
dispensing staff conduct diagnostics, fitting and dispensing of
hearing systems.

MacKeyser Holdings, LLC, American Optical Services, Inc. and their
affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Case
Nos. 14-11528 to 14-11550) on June 20, 2014.  David R. Hurst, Esq.,
and Marion M. Quirk, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, PA.  The Debtors' financial advisor is GlassRatner
Advisory & Capital Group.  The investment banker is Hammond Hanlon
Camp LLC.  The noticing and claims management agent is American
Legal Claim Services, LLC.

In its petition, MacKeyser Holdings estimated $50 million to
$100 million in both assets and liabilities.

The petitions were signed by Thomas J. Allison, authorized
officer.

The Official Committee of Unsecured Creditors retained Cooley LLP
as lead counsel; Klehr Harrison Harvey Branzburg LLP as co-counsel;
and Giuliano, Miller & Company, LLC as financial advisor.


MARCUS ENTERPRISES: Files for Chapter 11 Bankruptcy Protection
--------------------------------------------------------------
Marcus Enterprises LLC filed for Chapter 11 bankruptcy protection
(Bankr. N.D. W.Va. Case No. 14-01362) on Dec. 19, 2014.  The
petition was signed by Ronald E. Marcus, managing member,
Marcus Enterprises LLC.

Spiritofjefferson.com reports that Mr. Marcus filed for bankruptcy
ahead of a foreclosure sale for both Turf LLC, as well the Debtor,
together valued at more than $3.1 million.  According to court
documents, the Debtor, which is listed as owner of a commercial
site at Briar Run and the Energy Fitness Gym, is seeking bankruptcy
protection from more than $6.4 million in debts, with MVB Bank, the
Debtor's largest creditor at more than $3.5 million.

The Debtor disclosed $0 assets, and $6.99 million in total
liabilities.  

John F. Wiley, Esq., at J. Frederick Wiley, PLLC, serves as the
Debtor's bankruptcy counsel.

Marcus Enterprises LLC is headquartered in Charles Town, West
Virginia.  It is the developer of a number of lots in the Fox Glen
and Briar Run subdivisions.


MGM RESORTS: Bank Debt Trades at 3% Off
---------------------------------------
Participations in a syndicated loan under which MGM Resorts is a
borrower traded in the secondary market at 97.00 cents-
on-the-dollar during the week ended Friday, January 9, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.38 percentage points from the previous week, The Journal relates.
MGM Resorts pays 250 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Dec. 20, 2019, and carries
Moody's Ba2 rating and Standard & Poor's BB rating.  The loan is
one of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


MIRION TECHNOLOGIES: S&P Affirms 'B' CCR; Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on San Ramon, Calif.-based Mirion Technologies Inc.
The outlook is stable.

At the same time, S&P assigned a 'B' issue-level rating to Mirion
Technologies (Finance) LLC and Mirion Technologies Inc.'s proposed
new $315 million first-lien credit facility with a '3' recovery
rating, which indicates S&P's expectation of a meaningful recovery
in the event of a payment default.  S&P's recovery expectations are
in the lower end of the 50% to 70% range.  The proposed facility
will consist of a $35 million revolving credit facility and a $280
million term loan.

S&P also assigned a 'B-' issue rating and '5' recovery rating to
the borrowers' proposed $65 million second-lien term loan,
indicating S&P's expectation of a modest recovery in the event of a
payment default.  S&P's recovery expectations are in the middle of
the 10% to 30% range.  "We expect the company to use proceeds from
the new facility along with equity contributions from the new
sponsor to redeem all outstanding debt from its existing capital
structure and fund the acquisition," said Standard & Poor's credit
analyst Jaissy Lorenzo.

Mirion operates in the radiation detection and monitoring industry
niche, and is exposed to fragmented and competitive end markets.
The company has limited product and end-market diversity and a
somewhat concentrated customer base.  Partly offsetting these
factors are the company's leading positions as the No. 1 player in
many of the markets it serves, good geographic diversity, and
meaningful proportion of recurring revenues.

Mirion primarily serves nuclear, defense, medical, and industrial
end markets, with nuclear accounting for roughly 70% of fiscal 2014
revenues.  The company has a somewhat concentrated customer base as
its top 10 customers generated 50% of fiscal 2013 revenues, with
the largest customer accounting for roughly 12% of sales.  Though
small relative to its larger global competitors such as GE and
Areva, the company has dominant market positions in its key
business segments. Mirion also benefits from good geographic
diversity with about two-thirds of its revenues coming from outside
the U.S.  In addition, about two-thirds of sales come from
recurring or replacement revenues, including retrofits and
upgrades.  S&P expects recurring sales to account for a majority of
revenues going forward which should help provide stability to
operating performance.  S&P assess Mirion's business risk profile
as "weak".

The outlook is stable.  S&P expects modest revenue growth and
stable EBITDA margins to lead to positive trends in operating
performance and a gradual improvement in credit measures.

S&P could lower the ratings if weak operating performance causes
credit measures to deteriorate, specifically if S&P expects
leverage (including the management loan notes) to exceed 6x for an
extended period.  S&P could also lower the rating if the company is
unable to generate positive free cash flow or if liquidity becomes
constrained.

S&P could raise the ratings if it forecasts sustainable improvement
in the adjusted leverage ratio to a range of 4x to 5x.
Additionally, S&P would need to believe the company would adhere to
a financial policy supportive of these improved metrics and a
higher rating.



MORRIS BROWN: Plan Has $10.5 Million for AME Church
---------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Morris Brown College negotiated a settlement
with its Official Committee of Unsecured Creditors and the African
Methodist Episcopal Church Inc., the secured creditor, allowing the
filing of a Chapter 11 plan in December.

According to the report, for its $18 million claim, the church will
receive $10.5 million from the sale of college property and will
retain a $3.5 million security interest in unsold college property.
Most of the assets went to the Atlanta Development Authority and
Friendship Baptist Church for $14.5 million, the report said.

Unsecured creditors, with claims ranging from $6.4 million to $9.5
million, will share $300,000 for a recovery estimated between 3
percent and 5 percent, the report related.

                     About Morris Brown College

Morris Brown College, a black college founded in 1881, filed
for Chapter 11 bankruptcy protection (Bankr. N.D. Ga. Case No.
12-71188) on Aug. 25, 2012, in Atlanta to stop foreclosure on a
$13 million mortgage.

Morris Brown was denied accreditation from the Commission on
Colleges of the Southern Association of Colleges and Schools in
December 2002.  Without its accreditation, Morris Brown College
didn't qualify for federal funding.

The Debtor estimated assets and liabilities of $10 million to
$50 million as of the Chapter 11 filing.

Morris Brown filed applications to employ Dilworth Paxson LLP as
lead counsel; The Moore Law Group, LLC, as local counsel; and BDO
USA, LLP as auditors.


MOUNTAIN PROVINCE: $370MM Facility to be Approved "Shortly"
-----------------------------------------------------------
Mountain Province Diamonds Inc. reported that it continues to
progress arrangement of the previously announced US$370 million
term loan facility.  Finalization of the facility remains subject
to customary conditions, including final credit approval and
agreement on facility documentation, which is expected shortly.

                 About Mountain Province Diamonds

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit known as the "Gahcho Kue Project"
located in the Northwest Territories of Canada.  The Company's
primary asset is its 49 percent interest in the Gahcho Kue
Project.

Mountain Province reported a net loss of C$26.60 million in 2013,
a net loss of C$3.33 million in 2012 and a net loss of C$11.53
million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed C$200.8
million in total assets, C$41.4 million in total liabilities and
C$159.4 million in total shareholders' equity.


MURRAY ENERGY: Bank Debt Trades at 4% Off
-----------------------------------------
Participations in a syndicated loan under which MGM Resorts is a
borrower traded in the secondary market at 95.85 cents-
on-the-dollar during the week ended Friday, January 9, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.20 percentage points from the previous week, The Journal relates.
MGM Resorts pays 400 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Nov. 21, 2019, and carries
Moody's B1 rating and Standard & Poor's BB rating.  The loan is one
of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


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 97.00
cents-on-the-dollar during the week ended Friday, January 9, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an decrease
of 0.72 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.



NEPHROS INC: Appoints Paul Mieyal Acting President, CEO and CFO
----------------------------------------------------------------
Nephros, Inc.'s Board of Directors has appointed Paul A. Mieyal,
Ph.D., to assume the role of acting president, acting chief
executive officer, and acting chief financial officer.  Dr. Mieyal
succeeds John C. Houghton who has served as Nephros' president and
chief executive officer since 2012 and as acting chief financial
officer since June 2013.  Additionally, Daron Evans has been
appointed Chairman of the Board of Directors.  Mr. Evans will
continue to serve as Chairman of the Audit Committee.

"During Paul's prior tenure as acting CEO, Nephros obtained FDA
510k clearance for the company's H2H hemodiafiltration system, and
he was instrumental in negotiating strategic agreements with Medica
SpA and Bellco S.r.l.," said Mr. Evans.  "As Chairman, I look
forward to working directly with Paul, the management team and my
fellow board members to create value for Nephros shareholders."

"Nephros has a robust and differentiated portfolio with third-party
validation that our HydraGuard filter meets the U.S. Army's
stringent P248 standard, market enthusiasm for our NanoGuard
products in commercial applications, and FDA clearances for our
medical products in hospitals and dialysis clinics," said Dr.
Mieyal.  "I am excited to work with the Nephros team again in an
operational role.  We have a successful history of achieving goals
together, and we believe that we presently have a range of
opportunities to capitalize on market dynamics and strategic
relationships to grow product sales and progress toward
profitability."

About Daron Evans

Mr. Evans was appointed to the Board of Directors in 2013.  Mr.
Evans is a life sciences executive with over 20 years of financial
leadership and operational experience.  Mr. Evans is currently the
managing director of PoC Capital, an operational consulting and
software development firm, a Director on the Board of Zumbro
Discovery, an early stage company developing a novel therapy for
resistant hypertension, and a Director on the Board of Designtra,
an architectural products e-commerce market place.  Mr. Evans was
most recently chief financial officer of Nile Therapeutics, Inc.,
from 2007 until its merger with Capricor, Inc., in November 2013.
From 2004 to 2007, he held various roles at Vistakon, Inc., and
Scios, Inc., both divisions of Johnson & Johnson Corp.  Mr. Evans
was a co-founder and president of Applied Neuronal Network
Dynamics, Inc., from 2002 to 2004. From 1995 to 2002, Mr. Evans
served in various roles at consulting firms Arthur D. Little and
Booz Allen & Hamilton.  Mr. Evans is the author of four U.S.
patents.  Mr. Evans received his Bachelor of Science in Chemical
Engineering from Rice University, his Master of Science in
Biomedical Engineering from a joint program at the University of
Texas at Arlington and Southwestern Medical School and his MBA from
the Fuqua School of Business at Duke University.

                         About Paul A. Mieyal

Dr. Mieyal was appointed to the Board of Directors in 2007.  From
April 2010 to May 2012, Dr. Mieyal served as acting chief executive
officer of Nephros.  Dr. Mieyal is a vice president and the
Director of Life Sciences Investments of Wexford Capital LP. From
2000 to 2006, he was vice president in charge of health care
investments for Wechsler & Co., Inc. a private investment firm and
registered broker dealer.  Dr. Mieyal serves as director of several
private companies.  Dr. Mieyal received his Ph.D. in pharmacology
from New York Medical College, his B.A. in chemistry and psychology
from Case Western Reserve University, and is a chartered financial
analyst.

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.

Nephros, Inc., reported a net loss of $3.69 million in 2013
following a net loss of $3.26 million in 2012.

As of Sept. 30, 2014, the Company had $3.10 million in total
assets, $3.49 million in total liabilities and a $386,000 total
stockholders' deficit.

Rothstein Kass, in Roseland, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that the
Company has incurred negative cash flow from operations and net
losses since inception.  These conditions, among others, raise
substantial doubt about its ability to continue as a going
concern.


NEW LIFE PHYSICIANS: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: New Life Physicians, PLLC
        5055 Maryland Way Ste 100
        Brentwood, TN 37027

Case No.: 15-00118

Nature of Business: Health Care

Chapter 11 Petition Date: January 8, 2015

Court: United States Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: Hon. Keith M Lundin

Debtor's Counsel: Elliott Warner Jones, Esq.
                  EMERGE LAW PLC
                  2021 Richard Jones RD, Suite 240
                  Nashville, TN 37215
                  Tel: 615-953-2629
                  Email: elliott@emergelaw.net

                     - and -

                  Warner Jones, Esq.
                  EMERGE LAW PLC
                  2021 Richard Jones RD, Suite 240
                  Nashville, TN 37215             
                  Tel: 615-873-4043
                  Fax: 615-953-2955
                  Email: warner@emergelaw.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Linda Morgan Moor, MD, CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tnmb15-00118.pdf


NEW TOWNE CENTER: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: New Towne Center, Inc., a TN Non Profit Corp.
        915 E. McLemore, Ste. 201
        Memphis, TN 38106

Case No.: 15-20250

Chapter 11 Petition Date: January 8, 2015

Court: United States Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: Hon. George W. Emerson Jr.

Debtor's Counsel: Toni Campbell Parker, Esq.
                  LAW OFFICE OF TONI CAMPBELL PARKER
                  615 Oakleaf Office Lane
                  P.O. Box 240666
                  Memphis, TN 38124-0666
                  Tel: (901) 683-0099
                  Fax: 866-489-7938
                  Email: tparker002@att.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeffrey T. Higgs, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/tnwb15-20250.pdf


NII HOLDINGS: Wants Plan Exclusivity Extended to May 13
-------------------------------------------------------
NII Holdings, Inc., et al., ask the Bankruptcy Court to enter an
order pursuant to Section 1121(d) of the Bankruptcy Code extending

(a) the period during which they have the exclusive right to file
a chapter 11 plan, through and including May 13, 2015, and (b) the

period during which they have the exclusive right to solicit
acceptances through and including July 12, 2015.

On Nov. 24, 2014, the Debtors provided notice to parties-in-
interest of a major milestone in their Chapter 11 cases -- their
entry into a Plan Support Agreement (the "PSA").

On Dec. 22, 2014, the Debtors filed their Chapter 11 plan of
reorganization and disclosure statement.  The Plan will:

   (a) convert all of the outstanding senior unsecured notes  
       issued by CapCo and LuxCo -- totaling $4.35 billion -- into

       equity interests in the reorganized Debtors;

   (b) implement a proposed settlement of certain disputed inter-
       estate and inter-debtor claims and disputed third party
       creditor claims; and

   (c) provide the reorganized Debtors with $500 million in new
       capital to support the continued turnaround of the Debtors'

       business.

Party to the PSA are four of the Debtors' major creditor
constituencies: (a) a group of entities managed by Aurelius
Capital Management, LP; (b) a group of entities managed by Capital

Research and Management Company; (c) American Tower Corporation,
American Tower do Brasil - Cessao de Infraestruturas Ltda. and
MATC Digital S. de R.L. de C.V.; and (d) the Official Committee of

Unsecured Creditors, which is also a co-proponent with the Debtors

of the Plan.

The PSA and the Plan are the result of months of intense and
continuous negotiations between the Debtors and various parties-
in-interest that began prior to the Petition Date in March 2014.  
Those negotiations involved an active, frequent and cooperative
dialogue with various holders of Notes and their respective
professionals over the key components of the Debtors'
restructuring and the holders' respective due diligence efforts.

The Debtors add that as the Court is aware, they have resolved
issues surrounding the appointment of the Independent Manager to
review the reasonableness of the Proposed Settlement, and on
December 11, 2014, the Court ruled on the Stipulation Regarding
the Appointment and Scope of an Independent Manager for NII
International Telecom S.C.A.  In accordance with the terms of the
Stipulation, on Dec. 12, 2014, Scott W. Winn (the "Independent
Manager") was appointed as a Class C Manager to the board of
managers of NII International Holdings S.a r.l. to review the
Proposed Settlement and, within 45 days of appointment (unless
such initial time period is extended by the Court for good cause
shown upon application of the Independent Manager), on behalf of
LuxCo, either (a) confirm the reasonableness of, and recommend to
the Board of Managers that it cause LuxCo to join in, the
Proposed Settlement pursuant to Bankruptcy Code section 1123(b)(3)

and Federal Rule of Bankruptcy Procedure 9019 or (b) state his
recommendation to the Board of Managers that LuxCo not join in the

Proposed Settlement.  Under the terms of the PSA, if the
Independent Manager recommends to the Board of Managers that LuxCo

not join in the Proposed Settlement, the Debtors, the Creditors'
Committee and each of the Requisite Consenting Noteholders have
the option to terminate the PSA.

The Debtors also relate that they have achieved a number of other
important tasks to date in these bankruptcy cases, including: (a)
obtaining interim and final relief from the Court with respect to
the relief requested in various first-day and second-day motions
to allow them continued and seamless operation during these
Chapter 11 cases; (b) filing their schedules of assets and
liabilities and statements of financial affairs; (c) establishing
a claims bar date; (d) retaining numerous professionals to assist
them; (e) rejecting the lease for an unused property and amending
the lease for their headquarters; and (f) establishing procedures
to sell or abandon assets of de minimis value.

A hearing on the proposed extension is scheduled for Jan. 12,
2015, at 10:00 a.m. (ET).  Objections were due Jan. 5.

                      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's Scott J. Greenberg, Esq. and
Michael J. Cohen, Esq., as counsel and Prime Clerk LLC as claims
and noticing agent. NII Holdings disclosed $1.22 billion in assets

and $3.068 billion in liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed five creditors of NII
Holdings to serve on the official committee of unsecured
creditors. The panel is represented by Kenneth H. Eckstein, Esq.
and Adam C. Rogoff, Esq. of Kramer Levin Naftalis & Frankel LLP.
Kurtzman Carson Consultants LLC is the panel's information agent.

                            * * *

NII Holdings, Inc., and 12 of its its U.S. and Luxembourg-
domiciled subsidiaries are seeking Court approval of a Backstop
Commitment Agreement in relation to a the rights offering whereby
the NII Debtors seek to raise $250 million in connection with
their proposed plan of reorganization.

Capital Group, one of the Backstop Parties, is represented by
Andrew N. Rosenberg, Esq., Elizabeth R. McColm, Esq. and Lawrence
G. Wee, Esq. of PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP.

Aurelius Investment LLC, another Backstop Party, is represented by

Daniel H. Golden, Esq., David H. Botter, Esq., and Brad M. Kahn,
Esq. of AKIN GUMP STRAUSS HAUER & FELD LLP.


NNN 1818 MARKET STREET: Sovereign Says Trophy Asset Still Solid
---------------------------------------------------------------
Despite recent reports of Chapter 11 bankruptcy filings by three
former fractional owners of 1818 Beneficial Bank Place (1818 Market
Street), Sovereign Capital Management Group, Inc., restates that
the Center City Philadelphia trophy asset remains on solid
financial footing with occupancy rates of more than 90%. Currently,
the 37-story, Class-A office building (located in the prestigious
West of Broad office submarket in Philadelphia), is in escrow for
sale to San Francisco-based Shorenstein Properties.

Prior to Sovereign's investment in the property in 2012, 1818
Market Street, which is located just two blocks from Philadelphia's
renowned Rittenhouse Square, was suffering from low occupancy
levels and a lack of capital.  Sovereign implemented a disciplined
turnaround strategy and partnered with the tenant-in-common or
fractional owners of the building to recapitalize the asset.  By
the spring of 2013, regional bank-holding company Beneficial Mutual
Bancorp and national retailer Five Below had both selected the
gleaming white granite and glass tower as their new corporate
headquarters.

Following the stabilization and revitalization of 1818 Beneficial
Bank Place, a plan was implemented by the ownership group for asset
disposition   Shortly thereafter, three of the 34 fractional owners
of the building breached their fiduciary obligations by attempting
to interfere with the rights of the majority owners to sell.  As a
direct result of these actions, a California arbitrator was asked
to determine if the disposition plan of the asset management group
was appropriate.  On Dec. 16, 2014, that same California arbitrator
ruled that all activities undertaken by management were both
acceptable and suitable.

"It's unfortunate that these three former fractional owners have
made the reckless decision to file a bad-faith bankruptcy in hopes
of increasing their economic benefits," remarked Sovereign's CEO,
Todd A. Mikles.  "We continue to be pleased with the remarkable
turnaround at 1818 and the pending sale to Shorenstein
Properties."

Established in 1999, Sovereign Capital --
http://www.sovcapital.com/-- is a private equity real estate firm
based in San Diego, California.  Over the last decade, Sovereign
has completed more than $5 billion in commercial real estate
transactions.

                   About NNN 1818 Market Street

NNN 1818 Market Street 16, LLC, filed a bare-bones Chapter 11
bankruptcy petition (Bankr. C.D. Cal. Case No. 15-10111) in Los
Angeles on Jan. 5, 2015.  The Debtor, a Single Asset Real Estate as
defined in 11 U.S.C. Sec. 101(51B), estimated $10 million to $50
million in assets and debt.  The Debtor has tapped John L. Smaha,
Esq., at Smaha Law Group, in San Diego, as counsel.

Affiliates NNN 1818 Market Street 21, LLC (Case No. 15-10040) and
NNN 1818 Market Street 37, LLC, (Case No. 15-10121) also sought
bankruptcy protection on Jan. 6, 2015.



NUVILEX INC: Changes Name to PharmaCyte Biotech
-----------------------------------------------
Nuvilex, Inc., disclosed it has changed its name to PharmaCyte
Biotech, Inc. Shares in PharmaCyte Biotech will trade under the new
ticker symbol "PHCB" on the OTCQB electronic platform.  The new
symbol is expected to become effective at the open of the market on
Jan. 8, 2014.  The name change is part of the Company's
transformation process to operate solely as a pure biotechnology
firm leveraging its Cell-in-a-Box(R) technology, a proprietary cell
encapsulation platform being utilized to develop "targeted"
treatments for solid cancerous tumors and insulin dependent
diabetes.

"Over the past year, we've implemented an aggressive strategy to
facilitate the advancement of the treatments we are developing for
cancer and diabetes, with our Cell-in-a-Box(R) technology at the
core of these treatments.  Our new name reflects the tremendous
progress we've accomplished in terms of clinical development and
signifies the structural completion of our transition to becoming a
fully dedicated biotechnology company," said Kenneth L. Waggoner,
chief executive officer of PharmaCyte Biotech.

Some of the highlights in 2014 that have marked this transition
include:

   * Receiving "orphan drug" designation from the U.S. Food and
     Drug Administration (FDA) for the Company's pancreatic cancer
     treatment, with applications filed with the EMA and the TGA
     for the same status in Europe and Australia.

   * Development of a clinical protocol for a planned Phase 2b
     clinical trial with the goal of initiating the clinical trial

     in 2015.

   * A preclinical study being completed evaluating the
     effectiveness of the Company's pancreatic cancer treatment on

     the accumulation of malignant ascites fluid often associated
     with the growth of abdominal cancers with positive results
     that have led to a follow-up study about to be launched.

   * The establishment of a world-wide Diabetes Consortium with a
     number of research agreements now in place with major
     universities and institutions that will permit the
     development of a break-through treatment for insulin
     dependent diabetes that combines Cell-in-a-Box(R) with
     insulin-producing cells.

   * Progression at the University of Northern Colorado in the
     pursuit of treatments for brain and other forms of difficult
     to treat cancers that will combine cannabinoid or
     cannabinoid-like compounds with the Cell-in-a-Box(R)
     technology.

"With exciting developments on the horizon for 2015, our work to
develop treatments for both cancer and diabetes will move forward
under our new name because it speaks to what we actually do here at
PharmaCyte Biotech," concluded Mr. Waggoner.

In a subsequent press release, PharmaCyte Biotech announced that
the Company is trading under its new ticker symbol "PMCB" effective
Jan. 8, 2015.  It also announced that PharmaCyte Biotech's CUSIP
number has been changed to 71715X104.

Kenneth L. Waggoner, chief executive officer of PharmaCyte Biotech,
commented, "We have been asked by FINRA to use the ticker symbol
"PMCB" rather than the ticker symbol that we announced yesterday.
We are pleased to begin trading under our new corporate name and
ticker symbol and look forward to 2015, our first full year
operating solely as a biotechnology firm, with great
expectations."

                         About Nuvilex Inc.

Silver Spring, Md.-based Nuvilex, Inc.'s current strategy is to
focus on developing and marketing products designed to improve the
health and well-being of those who use them.

Nuvilex incurred a net loss of $1.59 million on $12,200 of product
sales for the 12 months ended April 30, 2013, as compared with a
net loss of $1.89 million on $66,600 of total revenue during the
prior year.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended April 30, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
which raises substantial doubt about its ability to continue as a
going concern.

As of Oct. 31, 2014, the Company had $6.65 million in total
assets, $277,000 in total liabilities and $6.38 million in total
stockholders' equity.


OW BUNKER: US Businesses Say Chimbusco Failed to Pay Fuel Order
---------------------------------------------------------------
TradeWinds reports that Montgomery McCracken Walker & Rhoads, on
behalf of OW Bunker A/S's OW Bunker USA and OW Bunker North
America, filed a complaint against Cosco Piraeus in New Jersey's
Southern District, claiming that Chimbusco Americas, a joint
venture between a Cosco affiliate and the China Marine Bunker
Supply Co., ordered fuel for the Cosco Piraeus late in 2014 but
failed to pay after the delivery was made.

TradeWinds relates that the Plaintiffs are attempting to claw back
almost US$1 million.

Court documents show that the federal judge assigned to the case
issued an arrest warrant for the Cosco Piraeus on Tuesday, the same
day the complaint was filed.  TradeWinds says that the Defendant
managed to keep US Marshals at bay by agreeing to deposit over
$938,000 in an account that will secure the Plaintiffs' claim until
the dispute is resolved.

According to TradeWinds, Cosco Piraeus is represented by an
attorney with Freehill, Hogan & Mahar.

                          About OW Bunker

OW Bunker A/S is a Danish shipping fuel provider.

On Nov. 7, 2014, OW Bunker A/S, which went public in March,
declared bankruptcy and reported two employees at its Singapore
unit to the police following allegations of fraud.  It owes 15
banks a total of about US$750 million.

OW Bunker said on Nov. 5 it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singapore office and poor risk management.  Trading in its shares
was suspended on Nov. 5 and the company said its banks had
refused to provide more credit.

OW Bunker's U.S. businesses, which opened in 2012 as part of its
global expansion, filed for Chapter 11 bankruptcy protection on
Nov. 13, 2014, in the U.S. Bankruptcy Court for the District of
Connecticut.  The U.S. subsidiaries have assets worth as much as
US$50 million and debt of as much as US$100 million.


OXFORD RESOURCE: Westmoreland Completes Oxford Transactions
-----------------------------------------------------------
Westmoreland Coal Company, Oxford Resource Partners, LP, and Oxford
Resources GP, LLC, the general partner of Oxford, announced the
completion of Westmoreland's acquisition of the GP and
Westmoreland's contribution of certain royalty-bearing coal
reserves to the MLP in return for MLP common units, as well as
Westmoreland's acquisition of Buckingham Coal Company, LLC.

The completion of the GP acquisition and the Contribution provide
Westmoreland with a platform to implement a value-creating
drop-down strategy, pursuant to which it intends to periodically
contribute certain U.S. and Canadian coal assets to the MLP in
exchange for a combination of cash and additional limited partner
interests.  Westmoreland expects these transactions to unlock value
that is inherent in Westmoreland's stable cash flow-generating
business model, to the benefit of both its stakeholders and the
MLP's unitholders.  The MLP will continue to operate as a
stand-alone, publicly traded master limited partnership, with
Westmoreland owning 77% of the fully diluted limited partner
interests.

"We are pleased that these strategic transactions have come to a
successful close and excited for Westmoreland to enter the MLP
space," stated Keith E. Alessi, Westmoreland's chief executive
officer.  "We believe our strategy with respect to the MLP will
help ensure our continued long-term growth."

"Oxford is very pleased that it has been able to join with
Westmoreland," said Oxford's president and chief executive officer,
Charles C. Ungurean.  "This is the culmination of our efforts to
bring increased value to our unitholders. We believe that this
represents a great opportunity for our company, unitholders,
employees and customers, as well as providing a MLP vehicle for
Westmoreland and its shareholders. This represents a win for all
stakeholders."

Westmoreland paid a total of $30 million in cash to acquire the GP,
and received 4,512,500 common units of the MLP (on a post-split
basis following the previously disclosed 12-to-1 reverse split of
the MLP's common and general partner units) as consideration for
the Contribution.  The closing of these transactions followed the
successful restructuring of both Westmoreland's and the MLP's debt
arrangements, as well as the approval by the MLP's public
unitholders of the Contribution and the MLP's equity restructuring
through certain previously announced amendments to its partnership
agreement.

In connection with the closing, the MLP's name was changed to
Westmoreland Resource Partners, LP, and the name of the GP was
changed to Westmoreland Resources GP, LLC.  The common units of
Westmoreland LP will trade on the NYSE under the symbol "WMLP".

On Jan. 1, 2015, Westmoreland also completed its acquisition of
Buckingham Coal Company, LLC, an Ohio-based coal supplier, for a
total cash purchase price of $34 million, subject to customary
post-closing adjustments.  Separately, an affiliate of Westmoreland
entered into a five-year coal supply agreement with AEP Generation
Resources Inc., which includes an obligation to purchase a minimum
of 5.5 million tons of coal.

"Westmoreland is happy to implement a long-term supply relationship
with AEP," said Mr. Alessi.  "We were able to realize significant
cost savings through this acquisition and we expect our supply
agreement will provide additional value to our shareholders," he
added.

                       About Oxford Resource

Columbus, Ohio-based Oxford Resource Resource Partners, LP, is a
low-cost producer of high value steam coal, and is the largest
producer of surface mined coal in Ohio.

The Company reported a net loss of $20.2 million on $287 million of
revenues for the nine months ended Sept. 30, 2012, compared with a
net loss of $4 million on $304.1 million of revenues for the same
period of 2011.

The Company's balance sheet at Sept. 30, 2014, showed $203.9
million in total assets, $218 million in total liabilities, and a
partners' deficit of $14.2 million.


PETROHUNTER ENERGY: Oklahoma Judge Rules on Ownership Dispute
-------------------------------------------------------------
Oklahoma District Judge Claire V. Eagan resolved cross motions for
summary judgment filed in an interpleader action that seeks to
determine the ownership of Petrohunter Energy, Inc.

Petrohunter owns an interest in several oil and gas leases in
Oklahoma, and Unit Corp. operates some of those leases located in
Latimer County, Oklahoma.  Unit filed an interpleader action
seeking leave to deposit disputed oil and gas proceeds with the
Court, and Unit asked the Court to resolve the competing claims to
the funds.

Judge Eagan ruled that KT Capital Corp. is the owner of
Petrohunter.  She denied a summary judgment motion of William A.
Veitch, who claimed ownership of Petrohunter and certain funds.

Judge Eagan directed the parties to file, no later than Jan. 22,
2015, a status report as to what, if any, issues remain for
adjudication by the Court, what bankruptcy issues would preclude
the immediate distribution of funds to KT, and the status of funds
received by Veitch from the Treasurer of Oklahoma.

Petrohunter filed for Chapter 11 bankruptcy in the United States
District Court for the Western District of Oklahoma on July 12,
1985.  The bankruptcy was converted to a Chapter 7 bankruptcy.  

Win Holbrook was appointed the bankruptcy trustee, and Holbrook
chose not to liquidate Petrohunter's interest in the oil and gas
leases.  The bankruptcy case was closed in 1993 and Holbrook was
discharged as trustee of the bankruptcy estate.

The interpleader case is, UNIT PETROLEUM COMPANY, Plaintiff, v.
WILLIAM A. VEITCH, KT CAPITAL CORP. f/k/a PETROHUNTER ENERGY, LTD.,
ASHLEY TUMLESON, previously named as Ashley Tumelson, STEVEN
SIMONYI-GINDELE, and PETROHUNTER ENERGY, INC. Defendants, Case No.
14-CV-0105-CVE-TLW (N.D. Okla.).  A copy of Judge Eagan's January
7, 2015 Opinion and Order is available at http://is.gd/R8vsfTfrom
Leagle.com.


PHILIP RUBEN: 7th Cir. Affirms Ruling on Fraud Debt Discharge
-------------------------------------------------------------
The U.S. Court of Appeals for the Seventh Circuit affirmed a lower
court's order granting a Chapter 7 bankrupt lawyer a discharge of
his other debts, but not of the fraud debt that was the subject of
an adversary claim filed by a trustee on behalf of a trust of which
she was a trustee.

In 2008 Lauralee Bell, on behalf of a trust of which she was the
trustee, sued Philip Ruben, a lawyer, plus other persons and his
former law firm, in an Illinois state court.  She charged the
defendants, including Ruben, with having both negligently and
fraudulently mismanaged her trust, inflicting a loss on it of some
$34 million.  The defendants asked her to arbitrate her claims. She
agreed, but before she initiated the arbitration Ruben filed for
bankruptcy under Chapter 7 of the Bankruptcy Code.  After
initiating the arbitration Bell filed an adversary complaint in the
bankruptcy court opposing discharge of Ruben's fraud-based debt to
her, pointing out that a debt incurred in order to perpetrate a
fraud is not dischargeable.  The bankruptcy judge granted Ruben a
discharge of his other debts, but not of the fraud debt that was
the subject of Bell's adversary claim.

"The balance must be struck so that post-bankruptcy acts on the
part of the debtor cannot be undertaken with impunity," Circuit
Judge Richard A. Posner said in the opinion, Bill Rochelle and
Sherri Toub, bankruptcy columnists for Bloomberg News, reported.
The Bloomberg bankruptcy reporters said although the case involved
a unique set of facts unlikely to occur again, statements by a
renowned judge like Judge Posner will be parsed for years to come
when lawyers argue whether he established a new theory for making a
debt survive bankruptcy.

The appeals case is IN RE: PHILIP E. RUBEN, Debtor-Appellant, No.
14-1475 (7th Cir.).  A full-text copy of the Decision is available
at http://bankrupt.com/misc/RUBEN1223.pdf


PHOTOMEDEX INC: Goldman Capital Holds 5% Stake as of Dec. 31
------------------------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission, Goldman Capital Management and Neal I. Goldman
disclosed that as of Dec. 31 , 2014, they beneficially owned
1,050,099 shares of common stock of Photomedex, Inc., representing
5.5 percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/Kts3Jr

                         About PhotoMedex

PhotoMedex, Inc. is a global Health products and services company
providing integrated disease management and aesthetic solutions to
dermatologists, professional aestheticians, ophthalmologists,
optometrists, consumers and patients.  The Company provides
proprietary products and services that address skin conditions
including psoriasis, vitiligo, acne, actinic keratosis, photo
damage and unwanted hair, as well as fixed-site laser vision
correction services at our LasikPlus(R) vision centers.

As reported by the TCR on Nov. 11, 2014, PhotoMedex, Inc., had
entered into an Amended and Restated Forbearance Agreement with
respect to its Credit Agreement dated May 12, 2014, and the
Initial Forbearance Agreement dated Aug. 25, 2014, by and among
the Company, as borrower and the lenders, and JPMorgan Chase Bank,
N.A., acting on behalf of secured creditors as the administrative
agent.  Subject to the terms of the Amended Forbearance Agreement,
for a period until Feb. 28, 2015, the Administrative Agent will
forbear from exercising any remedies relating to specified
defaults by the Company under the Credit Agreement.

The Company's balance sheet at Sept. 30, 2014, showed $277 million
in total assets, $138 million in total liabilities and $140 million
of stockholders' equity.


PHOTOMEDEX INC: Registers 967,500 Shares for Resale
---------------------------------------------------
Photomedex, Inc., filed a Form S-3 registration statement with the
U.S. Securities and Exchange Commission relating to the resales of
up to 967,500 shares of common stock of Photomedex Inc., by Charles
Frischer, Neal Goldman, James Sight, et al.

The selling stockholders may resell the common stock to or through
underwriters, broker-dealers, or agents, who may receive
compensation in the form of discounts, concessions, or commissions.
The selling stockholders will bear all commissions and discounts,
if any, attributable to the sales of shares.  The Company will bear
all costs, expenses, and fees in connection with the registration
of the shares.

Shares of the Company's common stock are quoted on the Nasdaq
Global Market under the symbol "PHMD."  On Jan. 8, 2015, the last
reported sale price of the Company's common stock was $1.66 per
share.

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

                        http://is.gd/yQkVzn

                          About PhotoMedex

PhotoMedex, Inc. is a global Health products and services company
providing integrated disease management and aesthetic solutions to
dermatologists, professional aestheticians, ophthalmologists,
optometrists, consumers and patients.  The Company provides
proprietary products and services that address skin conditions
including psoriasis, vitiligo, acne, actinic keratosis, photo
damage and unwanted hair, as well as fixed-site laser vision
correction services at our LasikPlus(R) vision centers.

As reported by the TCR on Nov. 11, 2014, PhotoMedex, Inc., had
entered into an Amended and Restated Forbearance Agreement with
respect to its Credit Agreement dated May 12, 2014, and the
Initial Forbearance Agreement dated Aug. 25, 2014, by and among
the Company, as borrower and the lenders, and JPMorgan Chase Bank,
N.A., acting on behalf of secured creditors as the administrative
agent.  Subject to the terms of the Amended Forbearance Agreement,
for a period until Feb. 28, 2015, the Administrative Agent will
forbear from exercising any remedies relating to specified
defaults by the Company under the Credit Agreement.

The Company's balance sheet at Sept. 30, 2014, showed $277 million
in assets, $138 million in total liabilities and $140 million in
total stockholders' equity.


PLASTIC2OIL INC: Signs Processor Agreements with EcoNavigation
--------------------------------------------------------------
Plastic2Oil, Inc., entered into four related agreements with
EcoNavigation, LLC, in connection with the supply of
plastic-to-oil, or P2O, processors by the Company to EcoNavigation,
and the Company's related license of certain P2O technologies,
supply of catalyst materials and provision of maintenance and other
services.  The obligation of EcoNavigation to purchase any P2O
processors and to perform its other obligations under the
agreements are contingent upon successful completion of a pilot
program and other contingencies.  The four agreements, which are:

   (i) an Equipment Supply Contract;

  (ii) a Technology License and Referral Agreement;

(iii) a Catalyst Supply Agreement; and

  (iv) a Monitoring, Maintenance, Repair and Upgrade Agreement.

In executing the Processor Agreements, EcoNavigation and the
Company establish the Company as the exclusive supplier of
processing equipment to be used by EcoNavigation, which is engaged
in the business of processing plastic feedstock for the purpose of
creating fuel. However, the Company may sell its processors or may
enter into licensing agreements with other companies in the future,
insofar as the Processor Agreements are not exclusive as to the
Company.

Equipment Supply Contract

The Equipment Supply Contract provides for the purchase of P2O
processors by EcoNavigation from the Company.  Assuming the
satisfaction of the contingencies, EcoNavigation will purchase a
minimum of six processors within three years from the execution of
this Contract.  Further, not less than two processors, and up to
four processors, may be ordered by EcoNavigation as part of its
initial order.  The amount to be paid by EcoNavigation to the
Company under the Initial Order will be between $5 million and $10
million, depending on the number of processors ordered.

Technology License and Referral Agreement

The Technology License and Referral Agreement provides that the
Company will grant EcoNavigation a non-exclusive license in the
United States for a twenty-year term to use and apply certain
technology owned by the Company for the processing of plastic
feedstock using the processors purchased by EcoNavigation from the
Company pursuant to the Equipment Supply Contract.  In exchange for
the license granted, the Company will receive a monthly royalty
equal to five percent of the gross revenues from sales by
EcoNavigation of fuel and other byproducts generated by the
processors.  This Agreement also provides for an escrow of certain
know-how related to the catalyst, which will be automatically
licensed to EcoNavigation in the event of certain failures by the
Company to meet its obligations under the Catalyst Supply Agreement
so that EcoNavigation may seek an alternate catalyst supplier until
the failure is remedied.

Catalyst Supply Agreement

The Catalyst Supply Agreement provides that, for the same term as
the Technology License and Referral Agreement, the Company will
supply the catalyst needed by EcoNavigation for all processors
purchased from the Company. EcoNavigation will pay the Company
$0.50 per pound for the catalyst, subject to Consumer Price Index
adjustments.

Monitoring, Maintenance, Repair and Upgrade Agreement

The Monitoring, Maintenance, Repair and Upgrade Agreement provides
that, for twenty years from the operational commencement of the
last processor supplied to EcoNavigation, the Company will perform
monitoring, special maintenance, and upgrades in connection with
the processors purchased by EcoNavigation.  EcoNavigation will pay
for parts and labor in accordance with a schedule set forth in the
Agreement.

EcoNavigation has the right to terminate each of the Processor
Agreements upon either of the following events: (i) if
EcoNavigation does not accept the results of a pilot test program
to be performed within the first 120 days of the execution date; or
(ii) EcoNavigation does not obtain adequate funding for the Pilot
Program, or the Initial Processor Order or lacks adequate working
capital.  In addition, the Processor Agreements contain certain
customary termination rights, including without limitation, upon a
material breach of one or more of the Processor Agreements or upon
the other party's bankruptcy or insolvency.  A termination of any
one of the Processor Agreements triggers a termination of the other
Processor Agreements.

The Company intends to submit a FOIA Confidential Treatment Request
to the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended, requesting
that it be permitted to redact certain portions of the Processor
Agreements.  The omitted material will be included in the request
for confidential treatment.

Termination of Employment Agreement

On Jan. 2, 2015, John Bordynuik resigned from his position as the
Company's chief of technology and the employment agreement between
the Company and Mr. Bordynuik's, dated May 15, 2012, was
terminated.  The Company anticipates that Mr. Bordynuik will
continue to provide services to the Company on a consulting basis.
The Company and Mr. Bordynuik are presently in discussions
regarding the consulting terms.

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 of
stockholders' equity.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $4.18 million on $67,700 of total sales compared to a
net loss of $9.82 million on $549,000 of total sales for the same
period last year.

JBI reported a net loss of $13.2 million in 2013 following a net
loss of $13.3 million in 2012.

MNP LLP, in Toronto, Canada, included a "going concern"
qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
accounting firm noted that the Company has experienced negative
cash flows from operations since inception and has accumulated a
significant deficit which raises substantial doubt about its
ability to continue as a going concern.


POSITIVEID CORP: Hikes Authorized Conv. Pref. Shares to 2,500
-------------------------------------------------------------
PositiveID Corporation filed an Amended and Restated Certificate of
Designations of Preferences, Rights and Limitations of Series I
Convertible Preferred Stock on Jan. 7, 2015, according to a
regulatory filing with the U.S. Securities and Exchange
Commission.

The Amended Certificate of Designation was filed to increase the
authorized shares of Series I Convertible Preferred Stock from
1,000 shares to 2,500 shares.  No other terms were modified or
amended in the Amended Certificate of Designation.

                          About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $13.33 million on $0 of revenue for the year ended Dec. 31,
2013, as compared with a net loss attributable to common
stockholders of $25.30 million on $0 of revenue in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $1.37
million in total assets, $9.03 million in total liabilities, and a
stockholders' deficit of $7.66 million.

EisnerAmper LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has a working capital deficiency and an accumulated
deficit.  Additionally, the Company has incurred operating losses
since its inception and expects operating losses to continue
during 2014.  These conditions, the auditors said, raise
substantial doubt about the Company's ability to continue as a
going concern.


PRESIDIO HOLDINGS: Moody's Assigns B2 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating
("CFR") and a B2-PD probability of default rating to Presidio
Holdings Inc., a new holding company being created to consummate
the $1.3 billion acquisition of the company by affiliates of Apollo
Management LLC. As part of the rating action, Moody's assigned a B1
rating to proposed senior secured credit facilities to be issued at
Presidio, Inc. (New) and a Caa1 rating to the proposed senior
unsecured notes to be issued at Presidio Holdings, Inc. The outlook
is stable.

Upon the completion of the acquisition, expected in early 2015,
Moody's will withdraw the existing Presidio ratings.

Ratings Rationale

Presidio's B2 CFR reflects the company's significantly increased
financial risk, as Moody's estimates Presidio's adjusted debt to
EBITDA leverage will be in the mid 6 times range at closing of the
leveraged buyout. However, Presidio's near-national geographic
footprint, enhanced positioning and specialized capabilities across
product categories in the data center, virtualization, networking
and security deployments are supportive of the ratings. The
company's increasing diversification into high-end products enhance
its prospects to sell technology solutions to small and medium
sized businesses and provide good long term growth opportunities.
Although one OEM vendor (Cisco) accounts for the majority of its
revenue, the company has been expanding its partnerships with other
leading technology vendors such as EMC, VMware, Oracle and IBM.

The stable outlook reflects Moody's expectation that Presidio will
maintain its market position serving mid-sized business customers,
generate revenue growth, and produce consistent levels of operating
profits and cash flows, with commensurate debt repayment.

Moody's expects Presidio to maintain good liquidity supported by a
$50 million revolving credit facility and a $200 million accounts
receivable (A/R) securitization facility, which will be undrawn at
closing. Moody's expects Presidio to maintain minimal cash
balances, as excess cash is generally swept on a daily basis to
reduce outstanding borrowings or invested in overnight funds.
Moody's expects the company to generate free cash flow of about $50
million over the next 12 months.

The ratings for Presidio's debt instruments reflect both the
overall probability of default of the company, to which Moody's has
assigned a PDR of B2-PD, and an average recovery expectation at
default. The senior secured credit facilities are rated B1 (LGD3),
reflecting a notch downward override from the LGD template implied
rating. The senior secured debt instruments benefit from the
collateral package and the full and unconditional guarantee by
Presidio's domestic subsidiaries. However, the relatively large
$200 million accounts receivables securitization program enjoys a
preferential collateral position, while the fairly high level of
payables with the company's key partner Cisco that currently
provides junior capital support could decline rapidly in a default
scenario if payments terms are tightened. The senior unsecured
notes are rated Caa1- LGD5, given their junior position in the
capital structure.

As the company is increasing its financial leverage to fund the
leveraged buyout, a rating upgrade is unlikely over the next 12-18
months. The rating could be upgraded if the company executes in its
strategy and pays down debt leading to sustainably lower levels of
adjusted debt to EBITDA below 4.5 times (after Moody's standard
adjustments) while achieving organic revenue growth consistent with
industry levels and without pressuring operating margins.

The ratings could be downgraded if the company does not achieve
expected revenue and EBITDA growth levels, from factors that might
include weak economic conditions, increased customer churn, poor
execution, or heightened competition. In addition, negative rating
pressure could arise if adjusted to EBITDA remains above 6.0x or,
liquidity weakens which could arise from operating losses, dividend
payments, or cash acquisitions without a proportionate increase in
EBITDA. A deteriorating relationship with key suppliers, Cisco and
EMC especially, could also place downward pressure on the rating.

The assigned ratings are subject to review of final documentation
and no material change in the terms and conditions of the
transaction as advised to Moody's.

Rating actions:

Presidio Holdings, Inc.

Corporate Family Rating -- Assigned B2

Probability of Default Rating -- Assigned B2-PD

Senior Unsecured Notes -- Assigned Caa1, LGD5

Outlook is stable

Presidio, Inc. (New)

First Lien Senior Secured Credit Facilities -- Assigned B1, LGD3

Outlook is stable

The principal methodology used in these ratings was Business &
Consumer Service 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.

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



QUALITY DISTRIBUTION: Eagle Asset Has 3.6% Stake as of Dec. 31
--------------------------------------------------------------
Eagle Asset Management, Inc., disclosed in an amended regulatory
filing with the U.S. Securities and Exchange Commission that as of
Dec. 31, 2014, it beneficially owned 1,007,329 shares of common
stock of Quality Distribution Inc. representing 3.59 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/QoUXAn

                    About Quality Distribution

Quality Distribution, LLC, and its parent holding company, Quality
Distribution, Inc., are headquartered in Tampa, Florida.  The
company is a transporter of bulk liquid and dry bulk chemicals.
The company's 2010 revenues are approximately $686 million.
Apollo Management, L.P., owns roughly 30 percent of the common
stock of Quality Distribution, Inc.

Quality Distribution reported a net loss of $42.03 million on
$930 million of total operating revenues for the year ended
Dec. 31, 2013, as compared with net income of $50.07 million on
$842 million of total operating revenues in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $440 million
in total assets, $470.01 million in total liabilities and a $30.4
million total shareholders' deficit.

                        Bankruptcy Warning

The Company had consolidated indebtedness and capital lease
obligations, including current maturities, of $383.3 million as of
Dec. 31, 2013.  The Company must make regular payments under the
ABL Facility, including the $17.5 million senior secured term loan
facility that was fully funded on July 15, 2013, and the Company's
capital leases and semi-annual interest payments under its 2018
Notes.

"The ABL Facility matures August 2016.  Obligations under the Term
Loan mature on June 14, 2016 or the earlier date on which the ABL
Facility terminates.  The maturity date of the ABL Facility,
including the Term Loan, may be accelerated if we default on our
obligations.  If the maturity of the ABL Facility and/or such
other debt is accelerated, we may not have sufficient cash on hand
to repay the ABL Facility and/or such other debt or be able to
refinance the ABL Facility and/or such other debt on acceptable
terms, or at all.  The failure to repay or refinance the ABL
Facility and/or such other debt at maturity would have a material
adverse effect on our business and financial condition, would
cause substantial liquidity problems and may result in the
bankruptcy of us and/or our subsidiaries.  Any actual or potential
bankruptcy or liquidity crisis may materially harm our
relationships with our customers, suppliers and independent
affiliates," the Company said in the Annual Report for the year
ended Dec. 31, 2013.

                           *    *     *

As reported in the TCR on June 28, 2013, Moody's Investors Service
upgraded Quality Distribution, LLC's Corporate Family Rating to
'B2'
from 'B3' and Probability of Default Rating to 'B2-PD' from
'B3-PD'.

The upgrade of Quality's CFR to 'B2' was largely driven by the
expectation that credit metrics will improve over the next twelve
to eighteen months, through a combination of EBITDA growth and
debt paydowns, to levels consistent with the 'B2' rating level.
The
company is in the process of integrating the bolt-on acquisitions
made in its Energy Logistics business sector since 2011.


QUEEN ELIZABETH: Plan Proposes to Fully Pay Unsecured Creditors
---------------------------------------------------------------
Queen Elizabeth Realty Corp. filed with the U.S. Bankruptcy Court
for the Southern District of New York a Chapter 11 plan of
reorganization that proposes a 100% payment to holders of general
unsecured claims.

According to the Disclosure Statement, the Plan provides that
Jeffrey and Lewis Wu, as equity interest holders of the Debtor,
will fund the Plan in a yet undisclosed amount.

Shanghai Commercial Bank Ltd., which has an allowed secured claim
of $12.4 million, plus costs and fees, will, in addition to its
receipt of adequate protection payments under the Cash Collateral
Order, receive, on the effective date, a payment to bring current
the Debtor's loans under the loan documents, and, following the
effective date, payments until all remaining amounts under the loan
are paid in full.

A hearing on the approval of the Disclosure Statement is scheduled
for Jan. 21, 2015, at 10:00 a.m. (EST).  Objections are due Jan.
14.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/QUEENELIZABETHds1224.pdf

               About Queen Elizabeth Realty Corp.

Queen Elizabeth Realty Corp. was formed in 1994 and owns a
commercial condominium unit consisting of the ground and basement
floors of the Royal Elizabeth Condominium located at 157 Hester
Street a/k/a 68-82 Elizabeth Street, New York, New York.

Queen Elizabeth filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 13-12335) on July 17, 2013.  Judge Stuart M.
Bernstein presides over the case.  

The petition was signed by Jeffrey Wu, president of QERC and owner
of 1/3 of the Debtor's shares.  Jeffrey Wu and Lewis Wu (brothers
of Phillip Wu, brothers-in-law of Margaret Wu), and Phillip Wu,
each own 1/3 of the shares of the Debtor.

The Debtor disclosed $20 million of total assets and $12 million
of total liabilities in its Schedules.

Jonathan S. Pasternak, Esq., at Delbello Donnellan Weingarten Wise
& Wiederkehr, LLP, serves as the Debtor's counsel.

On Aug. 8, 2013, Margaret Wu filed a motion to dismiss the case.
On Sept. 18, 2013, receiver Dean K. Fong, Esq., filed a motion to
dismiss the case or in the alternative, excuse the receiver from
turnover requirements.  The Court denied the motions to dismiss
from the bench at a hearing on Oct. 31, 2013.

The Debtor has commenced an adversary proceeding, Adv. Pro. No.
13-01386, against the receiver and Margaret Wu, seeking, among
other things, declaratory judgment clarifying the ownership
interests of the Debtor, and turnover of the property from the
receiver.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.



QUEST SOLUTION: Secures $8MM Line of Credit From Wells Fargo Bank
-----------------------------------------------------------------
Quest Solution, Inc., entered into a credit agreement dated as of
Dec. 31, 2014, with Wells Fargo Bank, National Association, in the
maximum principal amount of $8 million.

"We are pleased to confirm that Wells Fargo, the 4th largest bank
in the United States, as our lending partner as we execute the
expansion strategy of our business model in core verticals and new
markets," stated Jason Griffith, CEO, Quest Solution, Inc.  "Wells
Fargo completed a significant due diligence process on the Company
and agreed to provide up to $8,000,000 in a revolving line of
credit with a three-year commitment to the relationship."

"We are excited about our new relationship with Quest Solution and
BCS and pleased to be able to provide pivotal financing for their
business growth," stated Steve Ogus, senior vice president, Loan
Originations, Wells Fargo Capital Finance.  "The entire company and
its strong management team were helpful in making our due diligence
process seamless and we look forward to supporting the company in
their future business endeavors."

Griffith added, "We believe Wells Fargo's support will provide
flexibility for growth and further enhance our ability to deliver
value to our shareholders."

Interest on borrowings under the revolving loan generally ranges
from 2.75% to 3.25% over the Daily Three Month LIBOR depending on
the Average Quarterly Outstanding Advances under the Credit
Agreement.  The maturity date of the Credit Agreement is Dec. 31,
2017.

In connection with the closing of the Credit Agreement, Quest
entered into amendments to each of the following notes: (i) the
Amended and Restated Secured Subordinated Convertible Promissory
Note in the amount of $1.99 million in favor of George Zicman; (ii)
the Amended and Restated Secured Subordinated Convertible
Promissory Note in the amount of $5.64 million in favor of Kurt
Thomet; and (iii) the Secured Subordinated Convertible Promissory
Note in the amount of $11 million in favor of David Marin.  The
purpose of the Note Amendments was to revise the definition of
Senior Indebtedness in each note to increase the amount
subordinated thereunder to $10 million.

          To Expand Sales Force Into New York and Illinois

Quest Solution announced it has expanded its sales force into
Illinois and New York for 2015.

Following the acquisition of BCS Solutions last month, Quest
Solution and its integrated operations and management team view New
York state and Illinois, with primary emphasis on New York City and
the Chicago metropolitan area, as significant and natural growth
areas for the Company.  Accordingly, the Company will expand its
sales force and support staff to pursue and support Fortune 1000
enterprise clients well-suited for Quest Solution's award winning
technology solutions.

Through the acquisition, BCS Solutions brings to Quest Solution a
strong roster of existing Fortune 1000 clients and others in the
Chicago area.

"We intend to leverage the considerable successes of BCS and look
to expand our footprint in both Chicago and New York, which are
areas rich in major company leadership," stated George Zicman, vice
president sales, Quest Solution.  "BCS has done a tremendous job in
gaining significant traction and creating current case studies for
our sales force.  We will aggressively pursue new enterprise
clients for whom we can collectively offer an even greater service
package and economies of scale with our integration with BCS."

                        About Quest Solution

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

Amerigo Energy reported a net loss of $1.12 million in 2013
following a net loss of $191,000 in 2012.

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


QUICKSILVER RESOURCES: To Trade on OTC Marketplace Under "KWKA"
---------------------------------------------------------------
Quicksilver Resources Inc. announced that the company received
notification from the New York Stock Exchange that the NYSE had
determined to commence proceedings to delist the company's common
stock in view of its low trading price, and trading in the
Company's common stock was suspended immediately.  The Company had
previously disclosed that, on Oct. 9, 2014, the NYSE had notified
the Company that the 30-trading-day average closing price of the
company's common stock had fallen below $1.00 per share, the
minimum average share price required for continued listing of the
Company's common stock on the NYSE under Rule 802.01C of the NYSE
Listed Company Manual.

Quicksilver Resources does not intend to appeal the delisting
determination.  The Company's common stock is now traded on the OTC
market, and the Company expects that its common stock will be
traded on the OTCQB Marketplace within the next several days, under
the ticker symbol "KWKA."  Following the transition to the OTCQB
Marketplace, investors will have the ability to view Real Time
Level II stock quotes at http://www.otcmarkets.com.

                         About Quicksilver

Quicksilver Resources Inc. is an exploration and production
company engaged in the development and production of long-lived
natural gas and oil properties onshore North America.  Based in
Fort Worth, Texas, the company is widely recognized as a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999 and is listed on the New York Stock Exchange under the
ticker symbol KWK.  The company has U.S. offices in Fort Worth,
Texas; Glen Rose, Texas; Steamboat Springs, Colorado; Craig,
Colorado and Cut Bank, Montana.  The Company's Canadian
subsidiary, Quicksilver Resources Canada Inc., is headquartered in
Calgary, Alberta.

Quicksilver Resources posted net income of $161.61 million in 2013
following a net loss of $2.35 billion in 2012.  The Company's
balance sheet at Sept. 30, 2014, showed $1.26 billion in total
assets, $2.36 billion in total liabilities and a $1.09 billion
stockholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 30, 2014, Moody's Investors
Service downgraded Quicksilver Resources Inc.'s Corporate Family
Rating (CFR) to Caa3 from Caa1.  "The downgrade to Caa3 reflects
Moody's view that Quicksilver Resources' risk of default has
further increased," said Pete Speer, Moody's Senior Vice
President.

The TCR reported on Oct. 7, 2014, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Quicksilver
Resources Inc. to 'CCC-' from 'CCC+'.  "The downgrade reflects our
view that Quicksilver could undertake a distressed exchange for
its $350 million subordinated notes due 2016 within the next six
months," said Standard & Poor's credit analyst Carin Dehne-Kiley.


REDPRAIRIE CORP: Bank Debt Trades at 7% Off
-------------------------------------------
Participations in a syndicated loan under RedPrairie Corp is a
borrower traded in the secondary market at 93.33 cents-on-the-
dollar during the week ended Friday, January 9, 2014, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.95
percentage points from the previous week, The Journal relates.
RedPrairie Corp pays 500 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Dec. 12, 2018.  The bank
debt carries Moody's B2 and Standard & Poor's B rating.  The loan
is one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


RESOLUTE ENERGY: Moody's Cuts Sr. Unsecured Notes Rating to Caa2
----------------------------------------------------------------
Moody's Investors Service downgraded Resolute Energy Corporation's
(REN) senior unsecured notes rating to Caa2 from Caa1 and affirmed
its B3 Corporate Family Rating (CFR). Moody's also changed REN's
Speculative Grade Liquidity Rating to SGL-3 from SGL-4. The outlook
is negative. These rating actions were prompted by REN's December
31 issuance of a new $150 million second lien term loan.

"While the new term loan helps ease liquidity constraints and an
amended revolving credit facility provides covenant relief, the
additional secured debt in the company's capital structure further
subordinates its unsecured debt," commented Andrew Brooks, Moody's
Vice President. "REN's inability to complete a partial monetization
of its Aneth Field asset in 2014 prompted the company to seek
second lien financing as an alternative measure to stabilize its
liquidity. Without an asset sale, the company's balance sheet
remains over-levered, while reduced spending will curtail prospects
for production growth."

Downgrades:

Issuer: Resolute Energy Corporation

  Senior Unsecured Regular Bond/Debenture (Local Currency) May 1,
2020, Downgraded to Caa2, LGD5 from Caa1, LGD5

Upgrades:

Issuer: Resolute Energy Corporation

  Speculative Grade Liquidity Rating, Upgraded to SGL-3 from SGL-4

Affirmations:

Issuer: Resolute Energy Corporation

  Probability of Default Rating, Affirmed B3-PD

  Corporate Family Rating (Local Currency), Affirmed B3

Ratings Rationale

The B3 CFR reflects the limited scale of REN's operations with 62
million barrels of oil equivalent (Boe) of proved reserves and
third quarter 2014 production of 12,650 Boe per day, its high
quality but concentrated reserve base, high leverage and weak
capital efficiency relative to E&P peers. REN's primary asset is
its Aneth Field (56% of proved reserves; 100% crude, 93% proved
developed) in southeastern Utah. The Aneth Field has been in
production since the 1950s and has been in tertiary CO2 recovery
since the 1980s. Plans to monetize a portion of this mature,
relatively low-risk, long-lived asset to generate funds for the
expansion and development of its acreage in the Permian and Powder
River Basins have been temporarily shelved.

To preserve liquidity, Moody's believes the company has the
flexibility to reduce its capital spending to more closely align
its spending to reduced levels of cash flow, supported by Aneth's
free cash flow generation. Moody's also notes that commodity price
hedges covering approximately 70% of run rate crude oil production
in 2015 and 2016 will impart a degree of stability to cash flow,
albeit at lower levels. However, the company will remain highly
levered absent an asset sale at approximately $60,000 debt on
production and $16.14 per Boe of proved developed reserves,
constraining its ability to finance the further development of its
Permian and Powder River Basin acreage.

REN's SGL-3 Speculative Grade Liquidity Rating reflects adequate
liquidity through 2015. Effective December 31, REN closed on a new
$150 million second lien term loan, whose net proceeds were used to
repay a portion of the borrowings outstanding under its secured
borrowing base revolving credit facility. In connection with the
new term loan, REN amended its existing revolving credit facility,
reducing its borrowing base to $330 million and replacing its total
debt-to-EBITDA financial covenant with a 3.5x secured
debt-to-EBITDA covenant, which conforms to the new term loan,
providing much needed covenant relief. Without the amended terms,
it was apparent that REN's access to the remaining unborrowed
availability under the revolver would have been restricted by a
likely inability to comply with the facility's leverage covenant.
At December 31, REN had approximately $92 million of borrowing base
availability under its amended revolving credit, subject to the
amended leverage covenant. The credit facility has a March 2018
scheduled maturity date. REN intends to manage its liquidity by
reducing spending to better align it with reduced cash flow, and
through the new term loan and amended revolving credit facility it
has stabilized its liquidity position to the extent that it has a
better opportunity to weather 2015's difficult commodity pricing
environment while continuing its efforts to transact an asset
sale.

The Caa2 rating on REN's $400 million senior unsecured notes
reflects the subordination of the senior unsecured notes to REN's
$330 million senior secured revolving credit facility and $150
million second lien term loan's priority claim to the company's
assets. With the new term loan, total secured debt and borrowing
base commitment (excluding the formerly committed $25 million of
"non-conforming" borrowing base) has increased $80 million to $480
million. The size of the claims relative to REN's outstanding
senior unsecured notes results in the notes being rated two notches
below the B3 CFR under Moody's Loss Given Default (LGD)
Methodology.

The negative outlook reflects the company's highly leveraged
balance sheet, which impedes its ability to raise additional
liquidity with which to fund production growth. The outlook could
be restored to stable presuming REN is successful in deleveraging
its balance sheet. Ratings could be downgraded if the company's
liquidity further deteriorates, should its leveraged full-cycle
ratio fall below 1.0x or should debt on production and debt to
proved developed reserves evidence no improvement from $60,000 and
$16 per Boe, respectively. Ratings could be upgraded if asset
sales, including a partial monetization of the Aneth Field, result
in improved credit metrics and incremental funding for development
projects, if production approaches 20,000 Boe per day and leverage
on production declines below $40,000 per Boe.

Resolute Energy Corporation is an independent E&P company
headquartered in Denver, Colorado.

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



REVEL AC: Inks Tax Settlement with Atlantic City
------------------------------------------------
BankruptcyData reported that Revel AC asked the U.S. Bankruptcy
Court to approve a settlement agreement it entered into with
Atlantic City, New Jersey.

According to BData, the document Revel filed in court explained:
"The Debtors own several parcels of real property, including the
land on which the Revel Casino Resort is located (collectively, the
'Real Property'), that are subject to annual assessment of their
value and ad valorem property taxation by Atlantic City. Atlantic
City initially assessed the Real Property at a value of
approximately $820 million for 2011 and $1.47 billion for 2012.
Although the Debtors paid the taxes due on such assessed values,
they also challenged the assessed values for 2011 and 2012, seeking
a refund of the excess taxes paid. Thereafter, Atlantic City
increased the assessed value by approximately $330 million for 2012
(raising the total assessed value to approximately $1.8 billion),
which increased assessment the Debtors also challenged....After
lengthy negotiations, on December 23, 2014, the Debtors and
Atlantic City entered into the Settlement Agreement, which, among
other things, reduces the 2014 Tax Claims from approximately $31
million to $26 million, thereby resulting in savings in excess of
$5 million to the Debtors' estates....The Debtors will withdraw
their Tax Appeals Atlantic City will withdraw its Rejection Motion
Objection and consent to the entry of the Rejection Motion's
proposed order. The Parties agree to meet and confer by no later
than January 9, 2015, regarding the assessed value of the Property
for 2015 property tax purposes."

                          About Revel AC

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

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

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

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

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

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

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


ROBERT JOHNSON: Judge Rules on Ex-Business Partner's Claim
----------------------------------------------------------
Bankruptcy Judge Geraldine Mund ruled on the proof of claim filed
by Drew Kaplan in the Chapter 11 case of his former business
partner, Robert Johnson.

Robert Vilas Johnson and Linda Joyce Johnson filed for chapter 11
bankruptcy (Bankr. C.D. Cal. Case No. 11-18629) on July 18, 2011.
At that time he and Kaplan were each a 50% owner in Internet
Specialties West, Inc.

On November 14, 2012, Jeffrey Golden was appointed as trustee in
Johnson's case.  The Trustee has filed a proposed disclosure
statement, but that has not yet been approved and an amended one is
to be filed in the near future.

On December 18, 2012, Kaplan and Golden filed a chapter 11 case for
IS West (Bankr. C.D. Cal. Case No. 12-bk-20897).  IS West has since
been sold, a plan was confirmed, and a final decree has been
entered. Once all creditors of IS West were paid, Kaplan received
half of the remaining balance and Golden, as chapter 11 trustee of
the Johnson estate, retained the other half.

On October 22, 2013, Kaplan filed proof of claim 14-1 in Johnson's
case seeking $8.6 million as "damages and loss of value of shares
and investment in IS West."

The Trustee objected to Kaplan's claim.  The Court bifurcated the
issues in order to first determine when the statute of limitations
ended and whether the claims asserted by Kaplan are derivative and
therefore cannot be enforced against the estate.

In a Jan. 7, 2015 Memorandum of Decision available at
http://is.gd/eGqcdKfrom Leagle.com, Judge Mund held that:

     -- As to the Claims for Fraud, both concerning the initial
investment and the promises allegedly made in 2005 -- These have
been brought within the statute of limitations and are not
derivative, but they have been subordinated to the claims of the
other unsecured creditors.

     -- As to the Claim for Breach of Fiduciary Duty -- Although
this was brought within the statute of limitations, it is
derivative, belongs to the Trustee, and has been waived by the
Trustee as part of the settlement (1:12-bk-20897-GM).


SABINE OIL: Appoints Chief Financial Officer
--------------------------------------------
Michael Magilton, age 38, was appointed as senior vice president
and chief financial officer of Sabine Oil & Gas Corporation by the
Company's board of directors, effective as of Jan. 2, 2015,
according to a regulatory filing with the u.S. Securities and
Exchange Commission.  

Prior to joining the Company, Mr. Magilton was vice president,
finance & treasurer of Quantum Resources Management from 2011 to
2014 and served as vice president of Aurora Capital Group from 2007
to 2010.  Mr. Magilton has held other senior level finance
positions with Wellspring Capital Management and First Reserve
Corporation and began his career as an investment banking analyst
with Banc of America Securities and Morgan Stanley & Co.  Mr.
Magilton graduated with a Bachelor of Science degree in Business
Administration from Creighton University, with a double major in
International Business and Finance and obtained his MBA from
Harvard Business School.

Pursuant to the terms of Mr. Magilton's offer letter, he will
receive an annual base salary of $310,000 and will also be eligible
to receive bonuses.

Consistent with the terms of Mr. Magilton's offer letter, he was
granted 600,000 shares of restricted stock of the Company on
Jan. 2, 2015, the date he commenced employment with the Company.
The award of restricted shares granted to Mr. Magilton will vest as
to one-fourth of the total number of restricted shares granted on
each of the first four anniversaries of the date of grant, subject
to continued provision of services to the Company on each such
anniversary.

On Jan. 6, 2015, the Company entered into a Severance and Change in
Control Agreement with Mr. Magilton.  The Severance Agreement
provides Mr. Magilton with certain severance benefits in connection
with a termination of employment under certain circumstances,
including in connection with a "change in control".

The Severance Agreement also contains certain restrictive
covenants, including the obligation not to compete with the
Company, the obligation not to solicit any existing or prospective
customers of the Company, and a confidentiality requirement.  In
the event Mr. Magilton violates these restrictive covenants, the
Company is entitled as a matter of right to specific performance of
the covenants and other appropriate judicial remedies.

                           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.  See http://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 million in total assets, $1.07 billion in total
liabilities, and a $148 million shareholders' deficit.

                            *    *    *

As reported by the TCR on May 12, 2014, Standard & Poor's Ratings
Services said it affirmed its ratings on Houston-based Sabine Oil &
Gas LLC ratings, including the 'B' corporate credit rating.


SAMMY WOOTEN: Trustee's Fee Was Properly Cut to $5,000
------------------------------------------------------
Judge Charles R. Simpson III of the U.S. District Court for the
Western District of Kentucky, Louisville, affirmed a bankruptcy
court's order setting the commission of William Stephen Reisz, as
Chapter 7 trustee for Sammy and May Wooten, at $5,000.

The trustee originally requested $22,964 as commission, noting that
this amount was less than the statutory commission of $23,830 based
on his total disbursements of $411,600.  The U.S. Trustee objected
to the amount of the commission sought and asked the bankruptcy
court to set the commission at $5,000.

According to Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, Judge Simpson said courts "still have
discretion to assess the reasonableness of a trustee's request,"
because there is "no automatic entitlement to the maximum
commission" provided for trustees in the statute.

The case is Reisz v. Crocker, 14-293, U.S. District Court, Western
District Kentucky (Louisville).  A full-text copy of Judge
Simpson's Dec. 23, 2014, Decision is available at

               http://bankrupt.com/misc/REISZ1223.pdf


SEADRILL LTD: Bank Debt Trades at 25% Off
-----------------------------------------
Participations in a syndicated loan under Seadrill Ltd is a
borrower traded in the secondary market at 75.50 cents-on-the-
dollar during the week ended Friday, January 9, 2014 according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 1.80
percentage points from the previous week, The Journal relates.
Seadrill Ltd pays 300 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 17, 2021.  The bank debt
carries Moody's B2 and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



SEARS METHODIST: Goes to Auction on Four Facilities in January
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a bankruptcy judge approved bid procedures
governing the sale of Sears Methodist Retirement System Inc., and
authorized the nonprofit operator of senior living facilities in
Texas to conduct an auction on Jan. 21.

As previously reported by the Troubled Company Reporter, Yellow
Rose Health Holdings LLC, which serves as the stalking horse,
offered to purchase the assets for $42.5 million.  Bidders may bid
on (i) any individual facility; (i) any combination of the
facilities; or (iii) all three facilities.  If the facilities are
sold individually to parties other than the stalking horse, the bid
protections for the stalking horse will be pro-rated in the
following manner: (i) $535,000 for Wesley Court; (ii) $665,000 for
Craig; and (iii) $100,000 for Parks.

The asset purchase agreement provides for:

   -- the purchase of significantly all of the sellers' assets
(except for cash and other excluded assets);

   -- payment by the stalking horse of a $2 million earnest money
deposit within five business days after the APA is fully executed;

   -- payment by the stalking horse of the purchase price of $42.5
million in cash at closing;

   -- assumption of the residency agreements and amounts due to
residents thereunder;

   -- purchase of the facilities free and clear of all
encumbrances; and

   -- in the event a higher and better bid is ultimately chosen by
the sellers, payment to the Stalking Horse of a break-up fee in the
amount of $1.20 million, and the payment in cash of expense
reimbursements in an amount up to $100,000.

According to the Bloomberg report, an affiliate of Evergreen Senior
Living Properties LLC from Franklin, Tennessee, was approved as the
lead bidder for the Meadow Lake Retirement Community in Tyler,
Texas, at $20.0 million.

                      About Sears Methodist

Sears Methodist Retirement System Inc. provides luxurious residency
to seniors.  The system includes: (i) eight senior living
communities located in Abilene, Amarillo, Lubbock, Odessa and
Tyler, Texas; (ii) three veterans homes located in El Paso, McAllen
and Big Spring, Texas, managed by Senior Dimensions, Inc., pursuant
to contracts between SDI and the Veterans Land Board of Texas; and
(iii) Texas Senior Management, Inc. ("TSM"), Senior Living
Assurance, Inc. ("SLA") and Southwest Assurance Company, Ltd.
("SWAC"), which provide, as applicable, management and insurance
services to the System.
Sears Methodist Senior Housing, LLC, is the general partner of, and
controls .01% of the interests in, Canyons Senior Living, L.P.
("CSL").

Sears Methodist and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 14-32821)
on June 10, 2014.  The cases are assigned to Judge Stacey G.
Jernigan.

The Debtors' counsel is Vincent P. Slusher, Esq., and Andrew
Zollinger, Esq., at DLA Piper LLP (US), in Dallas, Texas; and
Thomas R. Califano, Esq., Gabriella L. Zborovsky, Esq., and Jacob
S. Frumkin, Esq., at DLA Piper LLP (US), in New York.  The Debtors'
financial advisor is Alvarez & Marsal Healthcare Industry Group,
LLC, while the Debtors' investment banker is Cain Brothers &
Company, LLC.  The Debtors' notice, claims and solicitation agent
is GCG Inc.

The Debtors have sought and obtained an order authorizing joint
administration of their Chapter 11 cases.

The Official Committee of Unsecured Creditors is represented by
Clifton R. Jessup, Jr., Esq., and Bryan L. Elwood, Esq., at
Greenberg Traurig, LLP, in Dallas, Texas.


SEQUENOM INC: Vanguard Group Ups Equity Stake to 10% as of Dec. 31
------------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, The Vanguard Group disclosed that as of Dec.
31, 2014, it beneficially owned 11,769,245 shares of common stock
of Sequenom Inc. representing 10.02 percent of the shares
outstanding.  Vanguard Group previously reported beneficial
ownership of 6,567,997 shares at Dec. 31, 2013.  A copy of the
regulatory filing is available for free at http://is.gd/u1UNsE

                           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 $107.4 million in 2013, a net
loss of $117 million in 2012 and a net loss of $74.1 million in
2011.

As of Sept. 30, 2014, the Company had $135 million in assets, $186
million in liabilities, and a  stockholders' deficit of $51.9
million.


SHELBYVILLE ROAD: Not Entitled to Deposit, 6th Cir. Says
--------------------------------------------------------
The United States Court of Appeals for the Sixth Circuit resolved
whether a Chapter 7 bankruptcy debtor's trustee can bring into the
bankruptcy estate a "good faith" deposit made by the debtor's
assignor with respect to a proposed real estate purchase from the
Commonwealth of Kentucky.  William Lawrence, the trustee for debtor
Shelbyville Road Shoppes, LLC, seeks the return of a good faith
deposit paid by Eagle Development, LLC to the Commonwealth of
Kentucky Transportation Cabinet as part of a Purchase Agreement for
the purchase of land entered into on July 18, 2007. Eagle
Development later assigned the Purchase Agreement to Shelbyville
Road Shoppes. Two days before the expiration of the Purchase
Agreement's closing period, the debtor voluntarily filed for
Chapter 7 relief, which led to the Agreement's deemed rejection
pursuant to 11 U.S.C. Sec. 365(d)(1). The trustee subsequently
requested return of the deposit in bankruptcy court, claiming that
the deposit constituted "property" of the bankruptcy estate under
11 U.S.C. Sec. 541, and was thus subject to turnover under 11
U.S.C. Sec. 542. Both the bankruptcy court and the district court
rejected the trustee's turnover request. Because the debtor did not
possess either a legal or an equitable property interest in the
good faith deposit at the time the debtor filed a voluntary
petition for Chapter 7 relief, the district court properly rejected
the trustee's turnover request, the Sixth Circuit held in a Jan. 5
Opinion available at http://bit.ly/1wC3siafrom Leagle.com.

The appellate case is, WILLIAM W. LAWRENCE, as the Trustee for the
Estate of Shelbyville Road Shoppes, LLC, Appellant, v. COMMONWEALTH
OF KENTUCKY TRANSPORTATION CABINET, Appellee, No.
14-5197 (6th Cir.).

The Trustee is represented by:

     Robert W. Adams, III, Esq.
     ADAMS LAW GROUP
     6004 Brownsboro Park Boulevard
     Louisville, KY 40207
     Tel: (502) 895-8210

Commonwealth of Kentucky Transportation Cabinet is represented by:

     Bradley S. Salyer, Esq.
     MORGAN & POTTINGER
     601 West Main Street
     Louisville, KY 40202
     Tel: 502-560-6762
     Fax: 502-560-6762
     E-mail: bss@morganandpottinger.com


SNO MOUNTAIN: Gets Court Approval to Settle ACI Claim
-----------------------------------------------------
The bankruptcy trustee of Sno Mountain, LP, received court approval
for a deal that would resolve the company's claim against ACI
Merchant Systems, LLC.

Under the agreement, ACI and First National Bank of Omaha will turn
over to the trustee a total of $85,305, which is held in escrow by
the bank.  The parties also agreed to release each other from all
claims.

Gary Seitz, the court-appointed trustee, had said the funds are
property of SNO Mountain's estate and should be turned over to the
company.

                       About Sno Mountain

Various parties -- predominated by various limited partners of Sno
Mountan LP, including Richard Ford, Charles Hertzog, Edward
Reitmeyer, who are each guarantors of certain obligations owing by
Sno Mountain -- filed an involuntary Chapter 11 petition against
Sno Mountain (Bankr. E.D. Pa. Case No. 12-19726) on October 15,
2012.

The other petitioning parties include Wynnewood Capital Partners,
L.L.C., t/a WCP Snow Mountain Partners, L.P., and Kathleen
Hertzog.

The Alleged Debtor is the owner and operator of a popular ski
mountain resort and water park known as "Sno Mountain," located at
1000 Montage Mountain Road in Scranton, Pennsylvania.  The Debtor's
bankruptcy case is a "single asset real estate" case within the
meaning of 11 U.S.C. Sec. 101(51)(B).

Judge Jean K. FitzSimon oversees the case.  Brian Joseph Smith,
Esq., at Brian J. Smith & Associates PC, represents the petitioning
creditors.

Gary Seitz has been appointed as trustee overseeing the bankruptcy
of the Sno Mountain recreation complex.  Maschmeyer Karalis PC
serves as counsel to the trustee.

The Trustee has received Court authority to sell substantially all
of the Debtor's assets to Montage Mountain Resorts, L.P., for
$5.125 million.


SOLAR POWER: Acquires 100% Equity Interest in Xinte RMB206-Mil.
---------------------------------------------------------------
A wholly owned subsidiary of Solar Power, Inc., SPI Solar Power
(Suzhou) Co., Ltd., ("SPI Meitai Suzhou"), a company incorporated
under the laws of the People's Republic of China, entered into an
equity interest purchase agreement with TBEA Xinjiang Sunoasis Co.,
Ltd., and a wholly owned subsidiary of TBEA Sunoasis, for the
acquisition (the "Acquisition") of the 100% equity interest in
Gonghe County Xinte Photovoltaic Co., Ltd., a company incorporated
under the laws of the People's Republic of China.  Concurrent with
entry into the Equity Interest Purchase Agreement, SPI Meitai
Suzhou separately entered into a share pledge agreement, as
amended, and a mortgage agreement with TBEA Sunoasis and Xinte.
TBEA Sunoasis is a subsidiary of TBEA Co., Ltd., the shares of
which are listed on the Shanghai Stock Exchange under stock code
600089, and a provider of solar photovoltaic products and system
integration services.

Pursuant to the Equity Interest Purchase Agreement, (i) SPI Meitai
Suzhou contemplates to acquire 100% equity interests in Xinte for
an aggregate purchase price of RMB206 million (US$33.1 million) to
be settled in cash and through bank factoring financing in
installments in accordance with the terms and conditions
thereunder, (ii) the closing of the Acquisition will be within 10
business days after the date that all closing conditions are
fulfilled.  In connection with the Acquisition, SPI Meitai Suzhou
agreed to pledge 85% of the equity interest in Xinte held by SPI
Meitai Suzhou to TBEA Sunoasis pursuant to the Share Pledge
Agreement, and to mortgage all assets of the 20MW photovoltaic
power station owned by Xinte to TBEA Sunoasis pursuant to the
Mortgage Agreement.

The Acquisition was completed on Dec. 31, 2014.

                          About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility ("SEF") developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.

Solar Power reported a net loss of $32.2 million in 2013
following a net loss of $25.4 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $113 million
in total assets, $61.2 million in total liabilities, and
$51.7 million in stockholders' equity.

Crowe Horwath LLP, in San Francisco, 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 incurred a current year net loss of $32.2
million, has an accumulated deficit of $56.1 million, has
experienced a significant reduction in working capital, has past
due related party accounts payable and a debt facility under which
a bank has declared amounts immediately due and payable.
Additionally, the Company's parent company LDK Solar Co., Ltd has
experienced significant financial difficulties including the
filing of a winding up petition on Feb. 24, 2014.  These matters
raise substantial doubt about the Company's ability to continue as
a going concern, the auditors noted.


STEVEN WEGNER: May Continue Using Cash; Maine Restaurant Closed
---------------------------------------------------------------
Court documents say that federal bankruptcy Judge Louis Kornreich
extended on Jan. 7, 2015, an operating plan that gives Steven P.
Wegner access to cash to keep his remaining seven stores operating
at least through the end of February.

Bill Trotter at Bangordailynews.com reports that Mr. Wegner's
Burger King restaurant on North Street in Calais, Maine, has shut
down as he is trying to exit Chapter 11 bankruptcy protection.

None of the other Burger King restaurants are expected to be
affected by the bankruptcy, Bangordailynews.com says, citing
Michael Fagone, Esq., the attorney for Mr. Wegner who has an office
in Portland.

Mr. Wegner said he has offered all of the Calais restaurant's 20
workers with jobs at his other Burger Kings and that a few have
expressed interest in possibly relocating, Bangordailynews.com
relates.

According to Bangordailynews.com, Mr. Wegner said that he has owned
and run Burger King restaurants for 35 years and never closed one
until last week.  "We used to do very good volumes in Calais.
Until 2008 or 2009, it was profitable," the report quoted Mr.
Wegner as saying.  Mr. Wegner speculated that the recession,
tighter border restrictions after the Sept. 11, 2001 terrorist
attacks, and the difficult business climate in Washington County
likely led to the business' decline and which "has led to the
closure" of the Calais location, the report states.

Mr. Wegner's primary lender, Katahdin Trust Co., and Burger King
have been supportive of restructuring Mr. Wegner's debts, working
with Mr. Wegner to have him emerge from bankruptcy by March, but
that the process has taken longer than expected,
Bangordailynews.com reports, citing Mr. Fagone.

Steven P. Wegner, an Orono, Maine resident, owns eight Burger King
restaurants in eastern and northern Maine.  Aside from the
restaurant in Calais, Mr. Wegner also owns Burger Kings in Bangor,
Caribou, Ellsworth, Houlton, Presque Isle, Orono and Rockland.

Mr. Wegner filed for Chapter 11 bankruptcy protection (Bankr. D.
Maine Case No. 14-10415) on May 29, 2014.  

According to court documents, at the time of his initial May 29,
2014, petition filing, there was a total of at least $830,658 in
unsecured claims held against him by his creditors, the largest of
which was a $439,375.10 debt he owed to Burger King Corp.


STONEWALL GAS: Moody's Assigns 'B3' CFR & Rates $350MM Loan 'B3'
----------------------------------------------------------------
Moody's Investors Service, assigned first time ratings to Stonewall
Gas Gathering LLC, including a B3 Corporate Family Rating (CFR) and
a B3 rating senior secured rating to the proposed $350 million term
loan due in 2022. Moody's also assigned an SGL-4 Speculative Grade
Liquidity Rating. The outlook is stable.

Stonewall, a subsidiary of M3 Midstream LLC (M3), is a project
company that is constructing a 67 mile pipeline system to gather
natural gas from central delivery points in the Marcellus Shale
play in West Virginia. The proceeds of the term loan will be used
to fund a portion of the $460 million construction cost. While the
term loan is non-recourse, Stonewall benefits from long term,
minimum volume commitments from Antero Resources Corporation
(Antero, Ba3 stable) and Mountaineer Keystone (unrated) for roughly
83% of the start-up capacity of 1.4 Bcf per day.

"Stonewall's B3 CFR reflects the project risks associated with
constructing a gathering and transportation system on a
non-turn-key basis, its small scale and weak business profile, the
counterparty risk of its major customers, and the lack of revenue
and cash flow until the first quarter of 2016," said Stuart Miller,
Moody's Vice President -- Senior Credit Officer. "However, once the
construction phase is completed, the rating could improve by
one-notch, especially if $150 million of new equity is raised
through the exercise of options currently held by third parties."

Ratings assigned:

Corporate Family Rating: assigned B3

Probability of Default Rating: assigned B3-PD

Senior Secured Bank Loan: assigned B3, LGD4

Speculative Grade Liquidity Rating: assigned SGL-4

Outlook: Stable

Ratings Rationale

Stonewall's B3 Corporate Family Rating (CFR) is constrained by the
execution risk of completing the construction of the project
on-time and on-budget as well as the lack of cash flow until 2016.
The $460 million construction cost will be funded using a $350
million term loan and up to $183 million of equity which will be
provided by M3 (73%) and its partner, Vega Energy (27%) as needed.
The financing structure also includes an interest reserve of $53
million at closing. The project is supported by minimum volume
commitments by Antero and Mountaineer Keystone, a small exploration
and production portfolio company of First Reserve. Stonewall is
designed to provide a southern outlet to interstate pipelines and
markets for natural gas produced in the southwest portion of the
Marcellus Shale in West Virginia and Pennsylvania. The producing
area is a relatively new as it is part of the Marcellus Shale play
with take-away capacity constraints. Because of its strategic
importance, Stonewall has been able to execute long term contracts
with minimum volume commitments with producers. The B3 CFR also
takes into account the Ba3 rating of its anchor customer, Antero,
and the relatively small scale of Mountaineer Keystone. The project
sponsor, M3, has successfully constructed and operated other
pipeline systems over the last 10 years and one of its pipelines,
the Appalachian Gathering System, will tie into one of the northern
terminuses of Stonewall. M3's successful track record of developing
similar projects helps to support the B3 rating.

Stonewall's SGL-4 Speculative Grade Liquidity Rating reflects weak
liquidity through early 2016. The $350 million term loan funded at
closing and the $183 million equity commitment from the co-owners
provide sufficient capital to construct the pipeline and to fund an
interest reserve. However, the equity commitment will not be funded
up-front and is subject to equity calls from time to time to
maintain a two-thirds debt, one third equity funding protocol. The
project company will not have a revolving line of credit to provide
additional liquidity. Covenants are expected to be set with a
normal 25% cushion to base case projections once the pipeline is in
service while secondary liquidity will be very limited as all
assets are pledged to the term loan lenders.

The term loan is rated at the same level as the CFR as there is
only one class of debt, therefore no notching is necessary.

The stable outlook reflects Moody's expectation that the company
will successfully construct the pipeline and achieve its targeted
operational milestones and financial metrics over the next twelve
to eighteen months. Once an operational track-record is
established, a ratings upgrade is possible, especially if the
equity options are exercised and $150 million of new equity is
invested in the company post-completion with the proceeds used to
reduce outstanding debt. A downgrade is possibly if there are
material completion delays or cost-overruns that are not equity
funded. Delays in funding capital expenditures caused by delayed
equity funding or the inability to access the term loan proceeds
would also likely result in a downgrade.

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



STUART WEITZMAN: S&P Puts 'B' CCR on CreditWatch Positive
---------------------------------------------------------
Standard & Poor's Ratings Services placed all of its ratings on New
York City-based Stuart Weitzman Acquisition Co. LLC, including
S&P's 'B' corporate credit rating, on CreditWatch with positive
implications.  Total debt outstanding as of Sept. 30, 2014 was
approximately $335 million.

The CreditWatch placement follows the announcement that Coach is
acquiring Stuart Weitzman for an initial cash payment of $530
million and up to $44 million contingent payments over the next
three years.  If the transaction closes as planned, Stuart Weitzman
would merge into the larger and financially stronger Coach.

Currently, S&P assess Stuart Weitzman's business and financial risk
profiles as "weak" and "highly leveraged," respectively, compared
to "fair" and "modest," respectively, for Coach.

Assuming the transaction closes, S&P expects to raise its corporate
credit rating on Stuart Weitzman to the level of Coach upon
completion of the transaction.  S&P would then likely withdraw all
of the Stuart Weitzman ratings.

Alternatively, if the transaction is not completed, S&P would
likely affirm all of Stuart Weitzman's ratings and remove them from
CreditWatch.



TARGETED MEDICAL: Giffoni No Longer Serving as EVP Foreign Sales
----------------------------------------------------------------
Targeted Medical Pharma, Inc., disclosed that the employment
agreement dated June 1, 2010, with Kim Giffoni, who had served as
the Company's executive vice president of Foreign Sales and
Investor Relations, expired on Dec. 31, 2014.  Mr. Giffoni will
continue to serve as a director.  According to the Company, Mr.
Giffoni's departure was not as a result of any disagreement with
the Company on any matter relating to the Company's operations,
policies or practices.

                      About Targeted Medical

Los Angeles, Calif.-based Targeted Medical Pharma, Inc., is a
specialty pharmaceutical company that develops and commercializes
nutrient- and pharmaceutical-based therapeutic systems.

Targeted Medical reported a net loss of $9.33 million on
$9.55 million of total revenue for the year ended Dec. 31, 2013,
as
compared with a net loss of $9.58 million on $7.29 million of
total revenue in 2012.

Marcum LLP, in Irvine, CA, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2013.  The independent auditors noted that the Company
has incurred significant net losses since its inception, and has
an accumulated deficit of $23,022,407 as of Dec. 31, 2013, and
incurred a net loss of $9,337,618 and negative cash flows from
operations of $2,046,586 for the year ended Dec. 31, 2013.

The Company's balance sheet at Sept. 30, 2014, showed
$3.22 million in total assets, $11.92 million in total liabilities,

and a $8.70 million total stockholders' deficit.


TERESA GIUDICE: "Real Housewife" Reports to Prison
--------------------------------------------------
Melanie Cohen, writing for The Wall Street Journal, reported that
"Real Housewives of New Jersey" star Teresa Giudice surrendered to
prison officials, slashed the sale price for her mansion, and
dropped her complaint against Paul Simon seeking $17,000.

According to the report, Ms. Giudice was sentenced to 15 months in
prison for committing bankruptcy fraud and mail and wire fraud
conspiracy, though she will be released two months early.

                       About the Giudices

In June 2010, Teresa Giudice, who portrays a role in Real
Housewives of New Jersey, and her husband, Joe, filed for
bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in New
Jersey.  The Giudices owe creditors $10.85 million.

Chapter 7 trustee John Sywilok sued the Giudices.  The suit
claimed that the Debtors concealed key documents about their
finances and business transactions.  Mr. Sywilok also accused the
couple of making false statements under oath about their assets,
income and expenses.


THINK3 INC: Lawsuit Against D&Os Stay in Texas Bankr. Court
-----------------------------------------------------------
THINK3 LITIGATION TRUST, Plaintiff, v. FILIPPO ZUCCARELLO, FABRIZIO
GIUDICI, JOSEPH COSTELLO, SY KAUFMAN, AND MARK PERRY, Defendants,
Adv. Proc. No. 13-1081-HCM (Bankr. W.D. Tex.), pits a litigation
trust created by a confirmed plan of reorganization (as Plaintiff)
against former directors and officers of the chapter 11 Debtor (as
Defendants).  Plaintiff's claims revolve around alleged breaches of
fiduciary duties by and avoidable transfers to the prior directors
and officers of the Debtor. The substance of the proceeding is
interesting for a myriad of reasons, including that the Defendants
were directors and officers of the Debtor before a pre-bankruptcy
merger, two of the Defendants are residents of and worked primarily
in a foreign country (Italy), an Italian insolvency proceeding
involving the Debtor was commenced, and issues of Delaware
corporate law are implicated.

At the outset, the Defendants filed Motions to Dismiss on various
grounds-including Fed.R.Civ.Proc. Rule 12(b)(6) -- and
alternatively to transfer venue of this proceeding to Delaware.

In a January 4, 2015 Opinion available at http://bit.ly/17pQv5i
from Leagle.com, Bankruptcy Judge H. Christopher Mott in Austin,
Texas, ruled that the Defendants' Motions to Dismiss under Rule
12(b)(6) are primarily denied and partially granted, and their
request to transfer venue to Delaware is denied.

The Litigation Trust's Complaint named seven Defendants, most of
which are former directors and officers of Think3: Filipo
Zuccarello; Joseph Costello; Sy Kaufman; Mark Perry; Fabrizio
Giudici; Thomas Davis; and Nest Consulting Ltd.

Four of the seven named Defendants reside in foreign countries
(primarily Italy), and three of the named Defendants reside in the
United States. As a result, it took time to serve the foreign-based
defendants with process through the Hague Convention.

"When viewed through the restrictive prism that Rule 12(b)(6)
requires, much of Plaintiff Trust's Complaint will survive until
another day. The Court realizes that there will be another side to
the story told in the Complaint -- and that facts and proof (not
just allegations and plausibility) will ultimately govern the
outcome. There are mountains to be climbed and defenses to be
scaled for Plaintiff Trust to ultimately prevail. Equally evident
is that the Defendants will be forced to defend this suit and their
actions in what they likely consider to be a faraway land," Judge
Mott said.

"This arduous preliminary skirmish, which involved hundreds of
pages of pleadings and countless hours of effort, has now come to
the end. The Court will enter a separate Order on the Motions To
Dismiss under Rule 12(b)(6) filed by the Defendants consistent with
this Opinion, and denying the request to transfer venue to
Delaware. The Court will also enter an Order requiring the parties
to conduct a planning conference and submit a proposed scheduling
order, so that the discovery stage of this proceeding can
commence."

                         About Think3 Inc.

Think3 Inc., filed a voluntary Chapter 11 petition (Bankr. W.D.
Tex. Case No. 11-11252) on May 18, 2011.  Think3 is a Delaware
corporation and a global technology company.  Think3 is based in
the United States with offices and subsidiaries in several other
countries, including a large branch office in Italy.

Prior to the Chapter 11 filing by Think3 in the United States, an
involuntary bankruptcy/insolvency proceeding was filed against
Think3 in Italy and a trustee had been appointed by the Italian
court.  The Italian Trustee subsequently filed a Chapter 15
petition (Bankr. W.D. Tex. Case No. 11-11925) seeking recognition
of the Italian proceeding.  Recognition of the Italian foreign
proceeding was ultimately denied by the Court, and the Chapter 15
case was dismissed on September 12, 2011.

The voluntary Chapter 11 case filed by Think3 remained pending.  On
July 3, 2010, the Bankruptcy Court entered an order which confirmed
the Modified Amended Plan of Reorganization filed by Think3.  The
Plan created the Think3 Litigation Trust to pursue causes of action
of Think3 for the benefit of creditors. On September 28, 2012, the
Plan became effective.


TOYS R US: Holiday Period Same-Store Sales Fall
-----------------------------------------------
Maria Armental, writing for The Wall Street Journal, reported that
Toys "R" Us Inc. said its strategy of more disciplined promotions
and pricing led to a decline in sales at existing U.S. stores this
holiday season but better profitability.  According to the report,
the toy retailer said sales at existing U.S. stores fell 5% during
the recent holiday period.  Despite the sales decline, Toys "R" Us
said it saw an increase in gross margin dollars in its domestic
segment, the Journal noted.

Headquartered in Wayne, New Jersey, USA, Toys "R" Us is a leading
specialty toy and juvenile retailer, with annual revenues of
around $12.5 billion, roughly 40% of which are generated through
its International division.

                           *     *     *

The Troubled Company Reporter, on Oct. 2, 2014, reported that
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Wayne, N.J.-based Toys "R" Us Inc.(Toys).  The
outlook is stable.  At the same time, S&P assigned a 'B+' issue-
level rating and '1' recovery rating to the $350 million FILO term
loan (the borrowers will be Toy "R" Us-Delaware Inc. (Delaware)
and Toys "R" Us (Canada) Ltd.) and a 'B' issue level rating and
'2' recovery rating to the $1.025 billion term loan B-4 (the
borrower will be Toys "R" Us-Delaware Inc.).

On Oct. 1, 2014, the TCR reported that Fitch Ratings has assigned a
'B/RR1' rating to the new $350 million secured FILO term loan and a
'CCC+/RR3' to the $1,025 million secured B-4 term loan that is
being launched at Toys 'R' Us-Delaware, Inc. (Toys-Delaware).  The
new term loans will be used to repay the $646 million B-1 term loan
and $350 million of the 7.375% senior secured term loans, both due
Sept. 1, 2016.  The company will also refinance up to $380 million
of the $580 million of B-2 and B-3 term loans. Toys-Delaware will
seek amendments to the term loan and asset-backed loan (ABL) credit
agreements to complete these transactions.

On the same day, the TCR reported that Moody's Investors Service
took several rating actions for Toys "R" Us, Inc., including
assigning ratings to two new Toys "R" Us, Inc. debt issues, a
proposed $350 million senior secured FILO term LOAN and a proposed
$1,025 million senior secured term LOAN, both to be issued by Toys
"R" Us-Delaware, Inc. ("Toys-Delaware"), affirming the B3 Corporate
Family rating, and continuing the negative outlook.


TRANSGENOMIC INC: Issues $750,000 Convertible Promissory Note
-------------------------------------------------------------
Transgenomic, Inc., entered into an unsecured convertible
promissory note purchase agreement with an accredited investor
pursuant to which the Company issued an aggregate principal amount
of $750,000 to the Investor on Dec. 31, 2014.  The Note accrues
interest at a rate of 6% per year and matures on
Dec. 31, 2016.  Under the Note, the outstanding principal and
unpaid interest accrued under the Note is convertible into shares
of common stock of the Company as follows:

    (i) commencing upon the date of issuance of the Note (but no
        earlier than Jan. 1, 2015), the Investor is entitled to
        convert, on a one-time basis, up to 50% of the outstanding
        principal and unpaid interest accrued under the Note, into
        shares of Common Stock at a conversion price equal to the
        lesser of (a) the average closing price of the Common
        Stock on the principal securities exchange or securities
        market on which the Common Stock is then traded for the 20

        consecutive trading days immediately preceding the date of
        conversion, and (b) $2.20 (subject to adjustment for stock
        splits, stock dividends, other distributions,
        recapitalizations and the like); and

   (ii) commencing Feb. 15, 2015, the Investor is entitled to
        convert, on a one-time basis, any or all of the remaining
        outstanding principal and unpaid interest accrued under
        the Note, into shares of Common Stock at a conversion
        price equal to 85% of the average closing price of the
        Common Stock on the Market for the 15 consecutive trading
        days immediately preceding the date of conversion.

Pursuant to the terms of the Purchase Agreement, the Company is
obligated to use its best efforts to file with the Securities and
Exchange Commission by Jan. 31, 2016, a registration statement to
register for resale all of the shares of Common Stock issued on or
prior to Nov. 30, 2015, pursuant to the conversion of any portion
of the Note and to use its commercially reasonable efforts to have
the Initial Registration Statement declared effective by the SEC by
March 31, 2016.  In addition, the Company is obligated to use its
best efforts to file with the SEC by Jan. 31, 2017, an additional
registration statement to register for resale all of the shares of
Common Stock issued pursuant to the conversion of any portion of
the Note that have not previously been registered for resale and to
use its commercially reasonable efforts to have the Additional
Registration Statement declared effective by the SEC by March 31,
2017.  Under the Purchase Agreement, the Company may be required to
effect one or more other registrations to register for resale the
shares of Common Stock issued or issuable under the Note in
connection with certain "piggy-back" registration rights granted to
the Investor.  The Company will be required to pay $1,000 in
liquidated damages to the Investor for each day the Company fails
to meet an Initial Registration Statement or Additional
Registration Statement filing or effectiveness deadline.

                        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 $16.7 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 $10.8 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $30.8
million in total assets, $20.6 million in total liabilities and
$10.2 million in stockholders' equity.


TRI-STATE FINANCIAL: Judge Hastings Won't Recuse Self
-----------------------------------------------------
Bankruptcy Judge Shon Hastings denied the motion of American
Interstate Bank for judicial recusal in the lawsuit filed against
it by the case trustee for Tri-State Financial, LLC, d/b/a North
Country Ethanol.

AIB asserts that "the Hastings Court is partial and prejudicial to
any testimony which many be presented on remand" because the Court
spent hours intensely reviewing trial testimony, evidence and court
findings.  It maintains: "A reasonable person cannot expect the
Hastings Court to completely disregard those convictions in the
event Witnesses, who are available and whose testimony is both
material and disputed, are recalled while this matter is on
remand."

Judge Hastings, however, said AIB has not shown a high degree of
favoritism or antagonism that would make fair judgment impossible.

The case is, Thomas D. Stalnaker, Trustee, Plaintiff, v. George
Allison, Jr.; Frank Cernik; Phyllis Cernik; Chris Daniel; Amy
Daniel; Distefano Family Ltd. Partnership; Mark E. Ehrhart; Robert
G. Griffin; John L. Hoich; Denise Hoich; Timothy Jackes; James G.
Jandrain; American Interstate Bank; George Kramer; Bernie
Marquardt; Radio Engineering Industries, Inc.; Joseph Vacanti,
Trustee of the Joseph & Cynthia Vacanti Trust; and Centris Federal
Credit Union, Defendants. Centris Federal Credit Union,
Counterclaim and Cross-Claim Plaintiff, v. Thomas D. Stalnaker,
Trustee, Counterclaim Defendant, and George Allison, Jr.; Frank
Cernik; Phyllis Cernik; Chris Daniel; Amy Daniel; Distefano Family
Ltd. Partnership; Mark E. Ehrhart; Robert G. Griffin; John L.
Hoich; Denise Hoich; Timothy Jackes; James G. Jandrain; Linda L.
Klassmeyer; George Kramer; Bernie Marquardt; Radio Engineering
Industries, Inc.; and Joseph Vacanti, Trustee of the Joseph &
Cynthia Vacanti Trust, Cross-Claim Defendants, Adv. Proc. No.
10-8052 (Bankr. D. Neb.).  

A copy of Judge Hasting's Jan. 5, 2015 Order is available at
http://bit.ly/1DFL8cEfrom Leagle.com.

                     About Tri-State Financial

Tri-State Financial LLC, owner of the North Country Ethanol plant
near Rosholt, South Dakota, filed a Chapter 11 petition (Bankr. D.
Neb. Case No. 08-83016) on Nov. 21, 2008, in Omaha, Nebraska.  The
company listed assets of $35 million and debt totaling $27
million.  Centris Federal Credit Union holds a secured claim
aggregating $19.6 million.  The Chapter 11 case was filed four
days after Centris launched a foreclosure action against Tri-
State.  The bankruptcy case was later converted to a Chapter 7
liquidation and Thomas D. Stalnaker as named Chapter 7 trustee.


TRI-VALLEY CORP: Court Rejects Clawback Suit Against DMJ Gas
------------------------------------------------------------
Bankruptcy Judge Mary F. Walrath granted the motion of DMJ
Gas-Marketing Consultants, LLC, to dismiss a preference complaint
filed against it by Charles A. Stanziale, Jr., the chapter 7
trustee for Tri-Valley Corporation.

DMJ says the complaint fails to state a claim upon which relief can
be granted, arguing that the Complaint fails to describe the nature
of the antecedent debt or identify the transferor.

The Chapter 7 Trustee filed the complaint on July 8, 2014, seeking
to avoid and recover alleged preferential transfers totaling
$43,339 from DMJ.

The case is, CHARLES A. STANZIALE, JR., AS CHAPTER 7 TRUSTEE FOR
TRI-VALLEY CORPORATION, et al. Plaintiff, v. DMJ GAS-MARKETING
CONSULTANTS, LLC Defendants, Adv. Proc. No. 14-50446 (Bankr. D.
Del.).  A copy of the Court's January 7, 2015 Memorandum Opinion is
available at http://bit.ly/1wBSLfzfrom Leagle.com.

                       About Tri-Valley Corp.

Bakersfield, California-based Tri-Valley Corporation (OTQCB: TVLY)
-- http://www.tri-valleycorp.com/-- explored for and produced oil
and natural gas in California and has two exploration-stage gold
properties in Alaska.  It had 21 wells in California and
exploration rights in Alaska.

Tri-Valley and three affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 12-12291) on Aug. 7, 2012,
with funding from lenders that require a prompt sale of the
business.  The affiliates are Tri-Valley Oil & Gas Co., TVC Opus I
Drilling Program, L.P., and Select Resources Corporation, Inc.

K&L Gates LLP serves as bankruptcy counsel.  Attorneys at Landis
Rath & Cobb LLP serve as Delaware and conflicts counsel.  Epiq
Bankruptcy Solutions, LLC, is the claims agent.

The Debtor disclosed assets of $17.6 million and liabilities
totaling $14.1 million.  Former Chairman G. Thomas Gamble, who is
financing the bankruptcy case, is owed $7.2 million on several
secured notes.  There is an unsecured note for $528,000 and $9.4
million in unsecured debt owing to suppliers.

An official committee of unsecured creditors has been appointed in
the case.

The Tri-Valley case was converted to Chapter 7 according to a March
25, 2013 order.  Charles A. Stanziale, Jr., was appointed as
chapter 7 trustee.


TRIPLE S TIRE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Triple S Tire Co., Inc.
        405 S 9th St
        Elwood, IN 46036

Case No.: 15-00107

Chapter 11 Petition Date: January 8, 2015

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Hon. James M. Carr

Debtor's Counsel: KC Cohen, Esq.
                  KC COHEN, LAWYER, PC
                  151 N Delaware St Ste 1106
                  Indianapolis, IN 46204
                  Tel: 317-715-1845
                  Fax: 317-916-0406
                  Email: kc@esoft-legal.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Scott Stanley, secretary.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/insb15-00107.pdf


TRUMP ENTERTAINMENT: New Loan Requires Plan Approval by March
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the new
$20 million loan extended by Carl Icahn to Trump Entertainment
Resorts Inc. requires that the casino's plan of reorganization must
be confirmed by the bankruptcy court by March 13.  The loan
agreement also requires a Jan. 22 approval of the disclosure
statement explaining the plan.

As previously reported by The Troubled Company Reporter, Trump
Entertainment filed on Jan. 5, 2015, a third amended plan of
reorganization and accompanying disclosure statement to, among
other things, provide that holders of General Unsecured Claims will
receive Distribution Trust Interests, which will include $1 million
in cash and the proceeds, if any, of certain avoidance actions.
Under the revised plan, holders of general unsecured claims are
estimated to recover 0.47% to 0.43% of their total allowed claim
amount. The Amended Plan also includes language reflecting the
recently-approved $20 million loan from Carl Icahn.

                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 Official Committee of Unsecured Creditors 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.


TRUSTEES OF CONNEAUT LAKE: Has Until Jan. 30 to Report Finances
---------------------------------------------------------------
Keith Gushard at The Meadville Tribune reports that the Hon.
Jeffrey Deller of the U.S. Bankruptcy Court of Western Pennsylvania
has granted Trustees of Conneaut Lake Park's motion to have until
Jan. 30, 2015, to file a list of the Park's assets and liabilities,
financial statement, equity security holders and related
paperwork.

As reported by the Troubled Company Reporter on Jan. 8, 2015, Ed
Palattella at Erie Times-News reported that the bankruptcy lawyer
for the Debtor, George Snyder, Esq., asked the Bankruptcy Court to
give the Park until Jan. 30, 2015, to file records detailing all of
its debts in its court filings.

According to The Meadville Tribune, Judge Deller also formally
approved motions allowing Mr. Snyder to represent the trustees
during the bankruptcy proceedings and payment to the Park's utility
providers during bankruptcy proceedings.

                     About Conneaut Lake Park

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

Trustees of Conneaut Lake Park, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Pa. Case No. 14-11277) in Erie, Pennsylvania,
on Dec. 4, 2014.  The case is assigned to Judge Thomas P. Agresti.
The Debtor tapped George T. Snyder, Esq., at Stonecipher Law Firm,
in Pittsburgh, as counsel.  The Debtor estimated assets and debt of
$1 million to $10 million.

Trustees of Conneaut Lake Park filed for bankruptcy protection less
than 20 hours before the Crawford County amusement park was
scheduled to go to sheriff's sale for almost $930,000 in back taxes
and related fees.


TURF LLC: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------
Turf LLC filed for Chapter 11 bankruptcy protection (Bank. N.D.
W.Va. Case No. 14-01361) on Dec. 19, 2014, disclosing $3.61 million
in assets and $3.26 million in liabilities.  The petition was
signed by Ronald E. Marcus, member.

John F. Wiley, Esq., at J. Frederick Wiley, PLLC, serves as the
Debtor's bankruptcy counsel.

Spiritofjefferson.com relates that Mr. Marcus filed for bankruptcy
ahead of a foreclosure sale for the Debtor as well as Marcus
Enterprises LLC.

Court documents show that the Debtor owes more than $1 million to
Jefferson Security Bank.  Spiritofjefferson.com says that Bank of
Charles Town and BB&T Bank also have liens against the property.

Mr. Marcus, says Spiritofjefferson.com, also filed for bankruptcy
protection for two of his other properties -- the Quality Inn and
Conference Center in Harpers Ferry and the Southern Courts
building, the plaza next to the Turf that's home to a pizza shop, a
car rental business and a real estate office -- on Nov. 4, 2014, a
day before a scheduled foreclosure sale.

Turf LLC, headquartered in Charles Town, West Virginia, owns the
Turf Motel and Rib Room at 741 E. Washington Street, in Charles
Town.  The Turf Motel was established in 1954 by Charles C. Marcus
and the operation of the business has remained in the Marcus family
since that time.


UNITEK GLOBAL: Plan Confirmed; Sees Mid-January Bankr. Exit
-----------------------------------------------------------
The Bankruptcy Court for the District of Delaware on Jan. 5, 2015,
confirmed the Joint Prepackaged Plan of Reorganization of UniTek
Global Services, Inc., and its debtor affiliates.

The Plan was originally filed with the Court on Nov. 3, 2014.  

The Company has set mid-January 2015 for the effective date of the
Plan of Reorganization and its emergence from chapter 11.  The
Debtors plan to emerge from Chapter 11 after satisfying the
remaining conditions to effectiveness contemplated under the Plan.

The Plan contemplates that:

     -- the Senior ABL Facility Claims shall be Allowed in the
        aggregate principal amount of $38.7 million, plus any
        accrued but unpaid interest and certain fees, costs and
        other expenses, and upon the Effective Date, each holder
        of Allowed Senior ABL Facility Claims will receive its
        pro rata share of:

           (i) Tranche B New First Lien Debt in a face amount
               equal to:

               (a) the total amount of Allowed Senior ABL Facility
                   Claims, multiplied by

               (b) the First Lien Rollover Ratio; and

          (ii) New UniTek Debt in a face amount equal to:

               (a) the total amount of Allowed Senior ABL Facility
                   Claims, multiplied by

               (b) the UniTek Rollover Ratio;

     -- the Junior ABL Facility Claims shall be Allowed in the
        aggregate principal amount of $8.75 million, plus any
        accrued but unpaid interest and certain fees, costs and
        other expenses, and upon the Effective Date, each holder
        of Allowed Junior ABL Facility Claims will receive its
        Pro Rata share of:

           (i) Tranche B New First Lien Debt in a face amount
               equal to:

               (a) the total amount of Allowed Junior ABL
                   Facility Claims, multiplied by

               (b) the First Lien Rollover Ratio and

          (ii) New UniTek Debt in a face amount equal to:

               (a) the total amount of Allowed Junior ABL
                   Facility Claims, multiplied by

               (b) the UniTek Rollover Ratio;

     -- the Term Loan Claims shall be Allowed in the aggregate
        principal amount of $143 million, plus any accrued but
        unpaid interest and certain fees, costs and other
        expenses, and upon the Effective Date, each holder of
        Allowed Term Loan Claims shall receive its Pro Rata share
        of:

           (i) Tranche B New First Lien Debt in a face amount
               equal to:

               (a) the total amount of the Allowed Senior ABL
                   Facility Claims, multiplied by

               (b) the First Lien Rollover Ratio;

          (ii) New UniTek Debt in a face amount equal to:

               (a) the total amount of the Allowed Senior ABL
                   Facility Claims, multiplied by

               (b) the UniTek Rollover Ratio; and

         (iii) 100% of the New UniTek Interests; and

     -- General Unsecured Claims (including those held by trade
        creditors) will continue to be paid in full in the
        ordinary course of business and in accordance with prior
        custom and practice, or otherwise paid in full in Cash.

Under the Plan, the lenders provided additional capital and
liquidity to support the Company's recapitalization and all valid
unsecured claims were either paid in full or assumed in the
ordinary course of business and left unimpaired.  Additionally, the
Company reduced the par amount of its existing secured debt by over
40% through a debt-for-equity "swap" and achieved a substantial
interest rate reduction on its remaining debt.

Upon emergence from chapter 11, UniTek will be a private company
majority owned by New Mountain Finance Corporation and entities
managed by Littlejohn & Co., LLC, whom both have extensive private
equity expertise, as well as deep relationships in the specialty
contracting and fulfillment services industries.

              Contracts, Leases, Insurance & Releases

The Plan provides that all of the Debtors' Executory Contracts or
Unexpired Leases shall be deemed assumed, or assumed and assigned,
as applicable, as of the Effective Date, subject to specific
exceptions.

Any monetary defaults under each Executory Contract and Unexpired
Lease to be assumed, or assumed and assigned, as applicable,
pursuant to the Plan shall be satisfied by payment of the default
amount in cash on the Effective Date or on such other terms as the
parties to such Executory Contracts or Unexpired Leases may
otherwise agree.  In the event of a dispute regarding matters
pertaining to assumption, the cure payments will be made following
the entry of a final order or orders resolving the dispute and
approving the assumption, or assumption and assignment, as
applicable, or by mutual agreement between the Debtors and the
applicable counterparty.

Contracts and leases entered into after the Petition Date by any
Debtor, including any Executory Contracts and Unexpired Leases
assumed by such Debtor (or assumed and assigned to another Debtor
or to New UniTek Services Co.), will be performed by the applicable
Debtor or Reorganized Debtor liable thereunder in the ordinary
course of its business.

All of the Debtors' insurance policies and any agreements,
documents, or instruments relating thereto, are treated as and
deemed to be Executory Contracts under the Plan.  On the Effective
Date, the Debtors shall be deemed to have assumed all insurance
policies and any agreements, documents, and instruments related
thereto.

The Plan also provides for certain releases.

                     Management Incentive Plan

The Plan also provides for a management equity incentive plan,
which the Reorganized Debtors will implement following the
Effective Date and which shall reserve up to 10% of the fully
diluted New UniTek Interests, or the non-equity equivalent thereof,
to be reserved for distribution to officers, directors and
employees of the Reorganized Debtors, on terms to be determined by
the New UniTek Board.

                       New Board of Directors

Under the Plan, as of the Effective Date, the New UniTek Board is
expected to be composed of seven members, consisting of Robert E.
Davis, Michael B. Kaplan, John R. Kline, Robert A. Hamwee, Robert
Warshauer, Keith A. Maib and the Chief Executive Officer of
Reorganized UniTek.

               Separation of Businesses Transactions

The Plan provides that the New Corporate Governance Documents shall
contain provisions with respect to the corporate governance of the
Reorganized DirectSAT Entities (including New UniTek Services Co.)
and non-consolidation provisions separating the DirectSAT Business
from the Other Business, which provisions shall be reasonably
acceptable to the ABL Facility Agent and the Required Term Loan
Consenting Lenders.

                  Sources of Funds; Exit Facility

The Plan is to be funded with cash on hand (including cash from
operations) and proceeds of a new first lien debt facility to be
entered into by the reorganized Debtors on the Effective Date.

               Securities to be Issued under the Plan

On the Effective Date, all of the Company's existing equity
securities, including its existing common stock, will be cancelled.
Holders of the Term Loan Claims will receive their Pro Rata shares
of the New UniTek Interests, including new common and preferred
stock.

                        Company's Statement

"I thank our team who has led us through this expedited chapter 11
process.  We are pleased with the court's confirmation of our Plan
of Reorganization and will emerge from chapter 11 as a strong
Company that continually meets the needs of our customers," said
UniTek Chief Executive Officer Rocky Romanella.  "Likewise, we are
grateful for the loyalty and support of our customers and
suppliers.  Our valuable team of highly-skilled employees continues
its steadfast focus on safety and service as we represent some of
the greatest brands in the telecom industry."

Throughout the chapter 11 process, UniTek fully honored all
commitments to employees, customers and suppliers while continuing
to manage day-to-day operations as usual.

The Debtors are represented by:

         Michael J. Pedrick, Esq.
         Justin W. Chairman, Esq.
         MORGAN, LEWIS & BOCKIUS LLP
         1701 Market Street
         Philadelphia, PA 19103-2921
         Facsimile:  (215) 963-5001
         E-mail: mpedrick@morganlewis.com
                 jchairman@morganlewis.com

                  - and -

         Neil E. Herman, Esq.
         James O. Moore, Esq.
         Patrick D. Fleming, Esq.
         MORGAN, LEWIS & BOCKIUS LLP
         101 Park Avenue
         New York, NY 10178-0060
         Facsimile: (212) 309-6001
         E-mail: nherman@morganlewis.com
                 pfleming@morganlewis.com

                  - and -

         Robert S. Brady, Esq.
         M. Blake Cleary, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Facsimile: (302)-571-1253
         E-mail: rbrady@ycst.com
                 mbcleary@ycst.com

The Term Loan Agent is represented by:

         David A. Fidler, Esq.
         Maria Sountas-Argiropoulos, Esq.
         Vijay Sekhon, Esq.
         KLEE, TUCHIN, BOGDANOFF & STERN LLP
         1999 Avenue of the Stars, 39th Floor
         Los Angeles, CA 90067-6049
         Facsimile: (310) 407-9090
         E-mail: dfidler@ktbslaw.com
                 msargiropoulos@ktbslaw.com
                 vsekhon@ktbslaw.com

The ABL Facility Agent is represented by:

         Joshua A. Sussberg, Esq.
         Yongjin Im, Esq.
         KIRKLAND & ELLIS LLP
         601 Lexington Avenue
         New York, NY 10022
         Facsimile: (212) 446-4900
         E-mail: joshua.sussberg@kirkland.com
                 yongjin.im@kirkland.com

                  - and -

         Steven N. Serajeddini, Esq.
         KIRKLAND & ELLIS LLP
         300 North LaSalle
         Chicago, IL 60654
         Facsimile: (312) 862-2200
         E-mail: steven.serajeddini@kirkland.com

The Specified Term Lenders are represented by:

         LATHAM & WATKINS LLP
         330 North Wabash Avenue, Suite 2800
         Chicago, IL 60611
         Richard A. Levy, Esq.
         Matthew L. Warren, Esq.
         Facsimile: (312) 993-9767
         E-mail: richard.levy@lw.com
                 matthew.warren@lw.com

                  About UniTek Global Services

UniTek Global Services, Inc., based in Blue Bell, Pennsylvania,
provides fulfillment and infrastructure services to media and
telecommunication companies in the United States and Canada.

On Nov. 3, 2014 UniTek Global and nine subsidiary companies filed
petitions in the United States Bankruptcy Court for the District
of Delaware seeking relief under chapter 11 of the United States
Bankruptcy Code.  The Debtors are seeking to have their cases
jointly administered for procedural purposes, with pleadings to be
maintained on the case docket for UniTek Global Services, Inc.,
Case No. 14-12471.

The Debtors have tapped Morgan, Lewis & Bockius LLP as counsel;
Young, Conaway, Stargatt & Taylor, LLP, as co-counsel; Miller
Buckfire & Co. LLC, as financial advisor; Protiviti Inc., and Epiq
Bankruptcy Solutions, LLC, as claims and noticing agent.

As of Sept. 30, 2014, the Debtors have 2,500 employees,
substantially all of whom are full-time.

UniTek Global reported a net loss of $52.07 million on
$472 million of revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $77.7 million on $438 million of
revenues in 2012.

The Company's balance sheet at March 29, 2014, showed $250 million
in total assets against $257 million in total liabilities.


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 96.23 cents-on-the-
dollar during the week ended Friday, January 9, 2014, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.32
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.


UNIVERSAL ACADEMY: S&P Affirms 'BB-' Rating on 2014 Bonds
---------------------------------------------------------
Standard & Poor's Ratings Services, on Jan. 8, 2015, revised the
outlook to stable from negative and affirmed its 'BB-' rating on
Arlington Higher Education Financial Corp., Texas' series 2014
tax-exempt fixed-rate education revenue bonds and taxable bonds,
issued for LTTS Charter School Inc., doing business as Universal
Academy (UA).

"The revised outlook and affirmed rating reflect our correction of
an error made with respect to calculation of debt service for
fiscal 2015, which resulted in low projected coverage for the
year," said Standard & Poor's credit analyst Karl Propst.

For fiscal 2015, UA's debt service is capitalized; however, in
S&P's analysis it treated $1.9 million of interest on the bonds for
2015 as an expense, which reflected constrained projected coverage
for the year.  S&P has affirmed the rating at 'BB-' because S&P
believes that UA's credit profile, including the organization's
high existing leverage and weak level of unrestricted reserves, are
material credit risks and reflect a financial profile that is more
in line with a 'BB-' rating.  While leverage did not increase
relative to the initial rating assignment, UA's unrestricted
reserves have not increased while days' cash modestly declined from
fiscal 2013.



UNIVERSAL COOPERATIVES: Committee Seeks Approval to Sue Officers
----------------------------------------------------------------
The official committee of unsecured creditors has filed a motion
seeking court approval to sue members and officers of Universal
Cooperatives, Inc., in behalf of the company.

An investigation conducted by the unsecured creditors' committee
over the past three months shows that some of the company's current
and former officers allegedly breached their duties that led to its
bankruptcy filing.

The group alleged the officers continued to transfer funds to
Universal Cooperatives' nonviable affiliates to continue their
operations, and provide its members with discounts on products that
the company couldn't afford despite warning that the company was in
a financial crisis.

The unsecured creditors' committee also cited the sale of
Universal's animal health unit to an insider for "less than fair
value," according to filings made in U.S. Bankruptcy Court in
Delaware.

The court will hold a hearing on Jan. 26, 2015, to consider the
motion.  Objections are due by Jan. 19.

                   About Universal Cooperatives

As an inter-regional farm supply cooperative, Universal
Cooperatives, Inc. consolidates the purchasing power of its
members to procure, and/or manufacture, and distribute high
quality products at competitive prices. Universal has 14 voting
members and over 50 associate members.

Eagan, Minnesota-based Universal Cooperatives and its affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
14-11187) on May 11, 2014.  The debtor-affiliates are Heritage
Trading Company, LLC; Bridon Cordage LLC; Universal Crop Protection
Alliance, LLC; Agrilon International, LLC; and Pavalon, Inc.  UCI
do Brasil, a majority-owned subsidiary located in Brazil, is not a
debtor in the Chapter 11 cases.

The cases are assigned to Judge Mary F. Walrath.

Universal Cooperatives disclosed $12.09 million in assets and $29.3
million in liabilities as of the Chapter 11 filing.

The Debtors have tapped Travis G. Buchanan, Esq., Robert S. Brady,
Esq., Andrew L. Magaziner, Esq., and Travis G. Buchanan, Esq., at
Young Conaway Stargatt & Taylor, LLP; and Mark L. Prager, Esq.,
Michael J. Small, Esq., and Emil P. Khatchatourian, Esq., at Foley
& Lardner LLP, as counsel; The Keystone Group, as financial advisor
and Prime Clerk as notice and claims agent.

Bank of America, N.A., as agent for the DIP Lenders, is represented
by Daniel J. McGuire, Edward Kosmowski, Esq., and Gregory M.
Gartland, Esq., at Winston & Strawn, LLP.

The United States Trustee for Region 3 has appointed seven members
to the Official Committee of Unsecured Creditors, which is
represented by Sharon Levine, Esq., Bruce S. Nathan, Esq., and
Timothy R. Wheeler, Esq., at Lowenstein Sandler LLP, in Roseland,
New Jersey; and Jamie L. Edmonson, Esq., and Daniel A. O'Brien,
Esq., at Venable LLP, in Wilmington, Delaware.


UNIVERSAL COOPERATIVES: Has Until Feb. 9 to Remove Lawsuits
-----------------------------------------------------------
U.S. Bankruptcy Judge Mary Walrath has given Universal Cooperatives
Inc. until Feb. 9, 2015, to file notices of removal of lawsuits
involving the company that have not been automatically halted by
its bankruptcy filing.   

                   About Universal Cooperatives

As an inter-regional farm supply cooperative, Universal
Cooperatives, Inc. consolidates the purchasing power of its
members to procure, and/or manufacture, and distribute high
quality products at competitive prices. Universal has 14 voting
members and over 50 associate members.

Eagan, Minnesota-based Universal Cooperatives and its affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
14-11187) on May 11, 2014.  The debtor-affiliates are Heritage
Trading Company, LLC; Bridon Cordage LLC; Universal Crop Protection
Alliance, LLC; Agrilon International, LLC; and Pavalon, Inc.  UCI
do Brasil, a majority-owned subsidiary located in Brazil, is not a
debtor in the Chapter 11 cases.

The cases are assigned to Judge Mary F. Walrath.

Universal Cooperatives disclosed $12.09 million in assets and $29.3
million in liabilities as of the Chapter 11 filing.

The Debtors have tapped Travis G. Buchanan, Esq., Robert S. Brady,
Esq., Andrew L. Magaziner, Esq., and Travis G. Buchanan, Esq., at
Young Conaway Stargatt & Taylor, LLP; and Mark L. Prager, Esq.,
Michael J. Small, Esq., and Emil P. Khatchatourian, Esq., at Foley
& Lardner LLP, as counsel; The Keystone Group, as financial advisor
and Prime Clerk as notice and claims agent.

Bank of America, N.A., as agent for the DIP Lenders, is represented
by Daniel J. McGuire, Edward Kosmowski, Esq., and Gregory M.
Gartland, Esq., at Winston & Strawn, LLP.

The United States Trustee for Region 3 has appointed seven members
to the Official Committee of Unsecured Creditors, which is
represented by Sharon Levine, Esq., Bruce S. Nathan, Esq., and
Timothy R. Wheeler, Esq., at Lowenstein Sandler LLP, in Roseland,
New Jersey; and Jamie L. Edmonson, Esq., and Daniel A. O'Brien,
Esq., at Venable LLP, in Wilmington, Delaware.



VERSO PAPER: Completes Acquisition of Newpage
----------------------------------------------
Verso Corporation announced the completion of its acquisition of
NewPage Holdings Inc.  The transaction, valued at approximately
$1.4 billion, originally was announced on Jan. 6, 2014.  With the
completion of the NewPage acquisition, Verso will have
approximately $3.5 billion in annual sales and approximately 5,800
employees in eight mills across six states.

"The combination of Verso and NewPage creates a stronger, more
stable company with an effective strategy to weather industry
headwinds and reduce operating costs, while ensuring our customers
continue to benefit from the distinctive quality and service that
they have come to expect from us," said David J. Paterson, Verso's
president and chief executive officer.  "We continue to face
increased competition from electronic substitution for print and
from international producers, but as a larger, more efficient
organization with a sustainable capital structure, we are better
positioned to deliver solid results despite the industry's
continuing challenges."

The combination is expected to result in substantial cost synergies
over the next 18 months.  "With the complementary asset base and
shared strategic focus on coated paper manufacturing, this
acquisition represents a relatively low integration risk, so we
remain confident that we can deliver the synergies within the
expected timeframe," Paterson said.

"This combination and the related financial transactions have
created value for the securities holders of both companies," said
Mark Angelson, chairman of NewPage.  "Our customers, our employees
and the communities in which they live and work will be in able
hands with the new Verso team as they navigate the turbulent waters
of this challenging industry.  I thank our directors and management
for a job well done in safely landing our ship, and wish the Verso
team well going forward."

Divestiture of Biron and Rumford Mills

In a related transaction, immediately prior to Verso's acquisition
of NewPage, NewPage completed the divestiture of its paper mill in
Biron, Wisconsin, and its pulp and paper mill in Rumford, Maine, to
Catalyst Paper Operations Inc., a subsidiary of Catalyst Paper
Corporation.  The divestiture, originally announced on Oct. 30,
2014, was undertaken pursuant to a settlement with the United
States Department of Justice that enabled the NewPage acquisition
to proceed.

Name Change

Promptly after the NewPage acquisition was completed, Verso changed
its name from Verso Paper Corp. to Verso Corporation.  The name
change symbolizes Verso's intention to broaden its business
platform and seek alternative revenue streams to augment its core
printing papers, specialty papers and pulp segments.  Verso's
ticker symbol on the New York Stock Exchange (NYSE:VRS) will remain
the same.  Verso's Web site address has been changed to
www.versoco.com.

Leadership and Governance

As previously announced, Verso's existing senior leadership team
will continue to lead the organization, with Paterson continuing as
president and CEO.  The rest of Verso's senior leadership team
consists of the following persons, each of whom currently is an
executive of Verso:

   * Lyle J. Fellows, senior vice president of Manufacturing and
     Energy, is responsible for the mill and converting network,
     forest resources, manufacturing technology and energy.

   * Robert P. Mundy, senior vice president and chief financial
     officer, has responsibility for all financial areas,
     including financial planning and analysis, tax, corporate
     finance and treasury functions, accounting and audit
     functions, and investor relations.

   * Michael A. Weinhold, senior vice president of Sales,
     Marketing and Product Development, is responsible for sales,
     marketing, e-commerce, new business development, planning,
     logistics, customer service, field technical sales, product
     development and pricing management.

   * Peter H. Kesser, senior vice president, general counsel and
     secretary, has responsibility for all legal matters,
     including governance and compliance.

   * Kenneth D. Sawyer, senior vice president of Human Resources
     and Communications, is responsible for all human resources
     and people systems, including talent management and
     development, labor relations, performance management,
     compensation and benefits, as well as communications and
     public affairs.

   * Benjamin Hinchman, IV, vice president and chief information
     officer, has responsibility for the planning, development and
     operation of all information technology systems.

   * Joseph C. Duffy, vice president of Integrated Planning and
     Control, is responsible for the integration of the two
     companies and other business coordination and planning
     activities.

In addition, following the NewPage acquisition, Verso's board of
directors increased its size from 9 to 10 directors and elected
Robert M. Amen, formerly a director of NewPage, to serve as a
director of Verso.  Mr. Amen will serve as a Class I director whose
term expires at Verso's 2015 annual meeting of stockholders. It is
anticipated that Mr. Amen will be nominated for election by Verso's
stockholders at such meeting to serve for a term of three years.

Transaction Advisors

In connection with the NewPage acquisition and related financing
transactions, Evercore, Barclays and Credit Suisse served as
Verso's M&A advisors, and Kirkland & Ellis LLP, Morgan, Lewis &
Bockius LLP, and Paul, Weiss, Rifkind, Wharton & Garrison LLP
provided legal services to Verso. Goldman, Sachs & Co. served as
NewPage's M&A advisor, and Sullivan & Cromwell LLP provided legal
services to NewPage.

Additional information is available for free at:

                         http://is.gd/Hf7NYm

                             About Verso

Verso is a North American producer of coated papers, including
coated groundwood and coated freesheet, and specialty products.
Verso is headquartered in Memphis, Tennessee, and owns three paper
mills located in Maine and Michigan.  Verso's paper products are
used primarily in media and marketing applications, including
magazines, catalogs and commercial printing applications such as
high-end advertising brochures, annual reports and direct-mail
advertising.  Additional information about Verso is available on
its Web site at http://www.versopaper.com/

                            *    *    *

As reported by the TCR on July 10, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Verso Paper to 'CC'
from 'CCC'.  "The rating action reflects the announcement that the
company plans to conduct a two-part exchange for its senior secured
second-priority notes and senior subordinated notes," said Standard
& Poor's credit analyst David Kuntz.

The TCR reported on June 24, 2014, that Moody's Investors Service
downgraded Verso Paper's corporate family rating (CFR) to Caa3 from
'B3' and probability of default rating (PDR) to 'Caa3-PD' from
'Caa2-PD'.  Verso's 'Caa3' CFR reflects the elevated risk
of a default or distressed exchange in the next 12 months, the
company's weak liquidity, high leverage (adjusted leverage over
13x), and the expectation that the company will continue to face
secular demand declines and weak prices for most of the grades of
coated paper it produces.


VERSO PAPER: Maine Judge Dismisses Workers' Suit
------------------------------------------------
No earlier than Jan. 16, 2015, Verso Paper Corp. and Verso Paper
LLC anticipate selling the Bucksport, Maine Paper Mill to AIM
Development USA, LLC and in anticipation of the sale, Verso ceased
paper mill operations in Bucksport.

Former or soon to be former Verso employees of the Bucksport Paper
Mill and their union have sued the Company, seeking a declaratory
judgment and injunctive relief against Verso concerning their right
to timely payment of severance pay and final wages, including
accrued 2015 vacation pay, in accordance with time frames they say
are established under state law.

In a Jan. 6 Order available at http://bit.ly/1xY8P0Yfrom
Leagle.com, District Judge John A. Woodcock, Jr. dismisses the
Plaintiffs' claims for severance pay because Maine law precludes
them from proceeding once the state of Maine Director of Bureau of
Labor Standards brought suit in state court against the Defendants.
The Court also dismisses Plaintiffs' claims for vacation pay
because state rather than federal court, is a better venue for
adjudicating that claim.  The Court also dismisses Plaintiffs'
motion for attachment and trustee process because the motion is
related to enforcement of their severance and vacation pay claims
only, and dismisses the United Steelworkers' motion for joinder as
it relates to Plaintiffs' severance and vacation pay claims because
its motion is now moot.

The case is, INTERNATIONAL ASSOCIATION OF MACHINISTS AND AEROSPACE
WORKERS, AFL-CIO, LOCAL LODGE, Plaintiffs, v. VERSO PAPER CORP., et
al., Defendants, NO. 1:14-CV-00530-JAW (D. Maine).

                           About Verso

Verso is a North American producer of coated papers, including
coated groundwood and coated freesheet, and specialty products.
Verso is headquartered in Memphis, Tennessee, and owns three paper
mills located in Maine and Michigan.  Verso's paper products are
used primarily in media and marketing applications, including
magazines, catalogs and commercial printing applications such as
high-end advertising brochures, annual reports and direct-mail
advertising.  Additional information about Verso is available on
its Web site at http://www.versopaper.com/

                            *    *    *

As reported by the TCR on July 10, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Verso Paper to 'CC'
from 'CCC'.  "The rating action reflects the announcement that the
company plans to conduct a two-part exchange for its senior secured
second-priority notes and senior subordinated notes," said Standard
& Poor's credit analyst David Kuntz.

The TCR reported on June 24, 2014, that Moody's Investors Service
downgraded Verso Paper's corporate family rating (CFR) to 'Caa3'
from 'B3' and probability of default rating (PDR) to 'Caa3-PD' from
'Caa2-PD'.  Verso's 'Caa3' CFR reflects the elevated risk
of a default or distressed exchange in the next 12 months, the
company's weak liquidity, high leverage (adjusted leverage over
13x), and the expectation that the company will continue to face
secular demand declines and weak prices for most of the grades of
coated paper it produces.



VERSO PAPER: S&P Lowers CCR to 'SD' on Debt Exchange
----------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit ratings on U.S.-based Verso Paper Holdings LLC and its
holding company, Verso Paper Finance Holdings LLC, to 'SD' from
'CC'.  At the same time, S&P lowered the issue-level ratings on the
company's 11.375% senior subordinated notes due 2016 and 8.75%
senior secured second-priority notes due 2019 to 'D' from 'C'.  The
'6' recovery ratings on these notes are unchanged and continue to
reflect S&P's expectation for negligible (0%-10%) recovery in the
event of a conventional default.  Ratings on other unaffected debt
securities were unchanged.

The downgrade follows the completion of Verso Paper's acquisition
of competitor NewPage Holdings Inc.  In connection with the
acquisition, Verso Paper also completed a two-part debt exchange
whereby both senior secured second-priority and senior subordinated
noteholders realized meaningful reductions in principal
(approximate 41% and 38% reductions, respectively).

"We view the exchange as tantamount to default given the company's
financial condition at the time of the exchange offer and because
investors received less than the promise of the original
securities," said Standard & Poor's credit analyst Matthew Lynam.

S&P expects to raise its corporate credit rating pending further
analysis of the company's post-merger capital structure, EBITDA
potential, and liquidity.



VIRGIN MEDIA: Bank Debt Trades at 2% Off
----------------------------------------
Participations in a syndicated loan under which Virgin Media
Investment Holdings Ltd (NTL) is a borrower traded in the secondary
market at 97.65 cents-on-the-dollar during the week ended Friday,
January 9, 2015, according to data compiled by LSTA/Thomson Reuters
MTM Pricing and reported in The Wall Street Journal.  This
represents a drop of 0.48 percentage points from the previous week,
The Journal relates.  Virgin Media Investment Holdings Ltd (NTL)
pays 275 basis points above LIBOR to borrow under the facility.
The bank loan matures on Feb. 6, 2020.  The bank debt carries
Moody's Ba3 rating and Standard & Poor's BB- rating.  The loan is
one of the biggest gainers and losers among 255 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


VUZIX CORP: June 2014 Noteholders Waive Anti-Dilution Protection
----------------------------------------------------------------
As previously disclosed in a current report on Form 8-K filed by
Vuzix Corporation with the U.S. Securities and Exchange Commission
on Jan. 2, 2015, in connection with the closing by the Company of
the sale to Intel Corporation of an aggregate of 49,626 shares of
the Company's Series A Convertible Preferred Stock, at a purchase
price of $500 per share, for aggregate gross proceeds of
$24,813,000, each of the holders of notes issued by the Company on
June 3, 2014, agreed to irrevocably waive their rights to
anti-dilution protection under Section 5(b) of the June Notes in
the event the Company issues additional securities at a per share
price lower than the conversion price of the June Notes.  The
obligations of the holder of the June Notes under the June Note
Waiver will be binding on all assignees of the June Notes.

Also in connection with the Offering, as previously disclosed,
holders of approximately 86% of outstanding warrants issued by the
Company in its public offering on July 30, 2013, and in connection
with the conversion by certain holders of the Company's outstanding
debt in connection with the Company's public offering agreed to
irrevocably waive their rights to anti-dilution protection under
Section 2(b) of the July 2013 Warrants in the event the Company
issues additional securities at a per share price lower than the
exercise price of the July 2013 Warrants.  The obligations of the
holder of the July 2013 Warrants under the July 2013 Warrant Waiver
will be binding on all assignees of the July 2013 Warrants.

As a result of the foregoing, the Company's stockholder equity
(deficit) increased from ($9,973,188) to $22,970,939 and $8,384,127
in derivative liability was removed from the Company's balance
sheet, as of Sept. 30, 2014, on a pro forma basis.

                      About Vuzix Corporation

Vuzix -- http://www.vuzix.com-- is a supplier of Video Eyewear
products in the consumer, commercial and entertainment markets.
The Company's products, personal display devices that offer users
a portable high quality viewing experience, provide solutions for
mobility, wearable displays and virtual and augmented reality.
Vuzix holds 33 patents and 15 additional patents pending and
numerous IP licenses in the Video Eyewear field.  Founded in 1997,
Vuzix is a public company with offices in Rochester, NY, Oxford,
UK and Tokyo, Japan.

As of Sept. 30, 2014, the Company had $3.94 million in total
assets, $13.9 million in total liabilities and a $9.97 million
stockholders' deficit.

The Company's independent registered public accounting firm, EFP
Rotenberg, LLP, in Rochester, New York, included in its report on
the consolidated financial statements for the years ended Dec. 31,
2013, and 2012 an explanatory paragraph describing the existence
of conditions that raise substantial doubt about the Company's
ability to continue as a going concern, including continued
operating losses and the potential inability to pay currently due
debts.  The Company has incurred a net loss from continuing
operations consistently over the last 2 years.  The Company
incurred annual net losses from its continuing operations of
$10,146,228 in 2013 and $4,747,387 in 2012, and has an accumulated
deficit of $36,292,532 as of Dec. 31, 2013.  The Company's ongoing
losses have had a significant negative impact on the Company's
financial position and liquidity, EFP Rotenberg said.


WASCO INC: Asks for OK to Obtain $2.5MM Financing From Kingston
---------------------------------------------------------------
Getahn Ward, writing for The Tennessean, reports that WASCO, Inc.,
is seeking authorization from the Bankruptcy Court to obtain a $2.5
million line of credit from Kingston Capital to fund operations
during the proceedings.  

The Tennessean quoted Steve Curnutte, a principal in Tortola
Advisors LLC, the Company's restructuring and financial advisers,
as saying, "WASCO's new $2.5 million (debtor-in-possession) loan
facility insures that we are well funded through the reorganization
and anticipate no disruptions of any kind to our work, or for our
customers.  WASCO has worked diligently with the union pension fund
to resolve the alleged penalty for many months.  Regardless of the
outcome, none of the employees who are vested in the pension plan
will be impacted because benefits are guaranteed by the federal
government."

Having the credit line in place is a positive sign, The Tennessean
relates, citing Adam D. Stein-Sapir, a portfolio manager at New
York investment firm Pioneer Funding Group LLC, which specializes
in bankruptcies.  The report quoted him as saying, "It shows the
degree of confidence in the business being able to restructure,
emerge from bankruptcy and continue to operate."

According to The Tennessean, the Company's Chief Executive Andy
Sneed, said, "Our operation remains strong due to our deep and
longstanding relationships with contractors, suppliers and banks.
We are sound and profitable.  Chapter 11 allows us protection as we
continue to do business as usual."

Headquartered in Nashville, Tennessee, WASCO, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. M.D. Tenn. Case No.
15-00068) on Jan. 6, 2015, estimating assets between $1 million and
$10 million and its liabilities between $10 million and $50
million.  The petition was signed by William A. Sneed, Jr., chief
executive officer.  Judge Keith M Lundin presides over the case.

David Phillip Canas, Esq., Craig Vernon Gabbert, Jr., Esq., Barbara
Dale Holmes, Esq., Tracy M Lujan, Esq., R. Alex Payne, Esq., and
Glenn Benton Rose, Esq., at Harwell Howard Hyne Gabbert & Manner
PC, serve as the Debtor's bankruptcy counsel.


WBH ENERGY: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
WBH Energy Partners LLC (Bankr. W.D. Tex. Case No. 15-10004) and
its affiliates -- WBH Energy, LP (Bankr. W.D. Tex. Case No.
15-10003) and WBH Energy GP, LLC (Bankr. W.D. Tex. Case No.
15-10005) separately filed for Chapter 11 bankruptcy protection on
Jan. 4, 2015.  The petitions were signed by Joseph S. Warnock, vice
president.

Judge Christopher Mott presides over WBH Energy, LP's case, while
Judge Tony M. Davis presides over WBH Energy Partners' and WBH
Energy GP's cases.

William A. (Trey) Wood, III, Esq., at Bracewell & Giuliani LLP,
serves as the Debtors' bankruptcy counsel.

WBH Energy, LP, and WBH Energy Partners estimated their assets and
liabilities at between $10 million and $50 million each.  WBH
Energy GP estimated its assets at up to $50,000, and its
liabilities at between $10 million and $50 million.

Collin Eaton at Fuelfix.com reports that WBH Energy Partners told
the Bankruptcy Court that its partner in North Texas oil and gas
leases had warned it may foreclose on the private firm's stake in
the leases in January 2015 after it failed to pay its $12 million
share of operational expenses.

Joseph Warnock, vice president and co-founder of WBH Energy, said
in court documents that the financial troubles started in September
2014, when debt investor Castlelake refused to provide WBH Energy
more funds under a credit facility.  The Debtors failed to pay
their share of expenses under a joint operating agreement or
various vendors, Fuelfix.com states, citing Mr. Warnock.

WBH Energy Partners LLC is a small central Texas oil producer.


WEST CORP: To Divest Agent Services Businesses for $275 Million
---------------------------------------------------------------
West Corporation has entered into a definitive agreement with
Alorica, Inc., an Irvine, California based provider of customer
management outsourcing solutions, for the sale of several of West's
agent services businesses for approximately $275 million in cash.

Businesses to be divested include West's consumer facing customer
sales and lifecycle management, account services and receivables
management businesses.  The Pro Forma impact of this divestiture on
West Corporation's full year 2014 results is approximately $580
million reduction in revenue and $48 million reduction in Adjusted
EBITDA1.  The Adjusted EBITDA impact is comprised of the $35
million of Adjusted EBITDA from the divested business on a fully
allocated basis, plus $13 million of corporate and shared services
cash expenses that are allocated to the divested business but will
not move to Alorica.  West will work to reduce or repurpose
resources to address the $13 million of expenses throughout 2015.

West Corporation will retain a portion of its agent services
businesses including Health Advocate, business-to-business and cost
containment services.

"The divestiture is consistent with the Company's stated objective
of focusing on higher growth, more profitable assets," said Tom
Barker, chairman and chief executive officer.  "We expect this
transformative action will result in a faster growing organization
with enhanced revenue visibility and reduced customer
concentration.  We will also become a significantly less
labor-intensive company.  Approximately 25,300 West employees will
move to Alorica and our employee count will go from approximately
35,000 to 9,700."

Barker continued: "The proceeds from this sale will provide West
with additional opportunities to make the Company more valuable,
including reinvesting in our growth businesses, reducing our debt
or making strategic acquisitions."

"West Corporation chose Alorica because of its commitment to
support the agent services customers and employees going forward
and the need for a seamless transition," Barker added.

The transaction is expected to close in the first quarter of 2015,
subject to regulatory approvals and other customary closing
conditions.  In connection with the decision to sell these
businesses, the associated operating results will be reclassified
into Discontinued Operations in the Company's financial
statements.

Separately, the Company will lease to Alorica owned real estate
used by the businesses being sold.  West plans to pursue a sale of
this real estate in the commercial markets and complete such sale
as soon as practical following the sale of the businesses to
Alorica.  The Company estimates the total cash it will realize from
the sale of the businesses and real estate, net of fees and taxes,
will be approximately $285 million.

Morgan Stanley advised West Corporation on this transaction.

                       About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with services
that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

West Corp posted net income of $143.2 million in 2013 as compared
with net income of $126 million in 2012.

As of Sept. 30, 2014, the Company had $3.92 billion in total
assets, $4.61 billion in total liabilities, and a $685 million
stockholders' deficit.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WEST TEXAS GUAR: Amended Plan Declared Effective
------------------------------------------------
West Texas Guar Inc. informed the U.S. Bankruptcy Court for the
Northern District of Texas that its third amended Chapter 11 plan
of reorganization became effective on Dec. 12, 2014, and
substantial consummation of that plan occurred.  

Important deadlines under the Plan and the order confirming
Debtor's amended plan include:

  Jan. 12, 2015: Rejection Claim Bar Date
  Jan. 26, 2015: Professional Fee Claim Bar Date
  Feb. 10, 2015: Administrative Claim Bar Date

                    About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on March
14, 2014, against West Texas Guar Inc.  The farmers claim they are
owed nearly $4 million for seed they've delivered on the 2013
harvest but haven't been paid for.  Guar is a seed crop that has a
variety of uses in human and animal food production, textiles and
fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,
Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in
Dallas, Texas.  The Debtor disclosed in amended schedules
$19,226,923 in assets and $29,331,352 in liabilities as of the
Chapter 11 filing.


WESTMORELAND COAL: Closes Oxford Deals, Acquires Buckingham Coal
----------------------------------------------------------------
Westmoreland Coal Company, Oxford Resource Partners, LP, and Oxford
Resources GP, LLC, the general partner of Oxford, announced the
completion of Westmoreland's acquisition of the GP and
Westmoreland's contribution of certain royalty-bearing coal
reserves to the MLP in return for MLP common units, as well as
Westmoreland's acquisition of Buckingham Coal Company, LLC.

The completion of the GP acquisition and the Contribution provide
Westmoreland with a platform to implement a value-creating
drop-down strategy, pursuant to which it intends to periodically
contribute certain U.S. and Canadian coal assets to the MLP in
exchange for a combination of cash and additional limited partner
interests.  Westmoreland expects these transactions to unlock value
that is inherent in Westmoreland's stable cash flow-generating
business model, to the benefit of both its stakeholders and the
MLP's unitholders.  The MLP will continue to operate as a
stand-alone, publicly traded master limited partnership, with
Westmoreland owning 77% of the fully diluted limited partner
interests.

"We are pleased that these strategic transactions have come to a
successful close and excited for Westmoreland to enter the MLP
space," stated Keith E. Alessi, Westmoreland's chief executive
officer.  "We believe our strategy with respect to the MLP will
help ensure our continued long-term growth."

"Oxford is very pleased that it has been able to join with
Westmoreland," said Oxford's president and chief executive officer,
Charles C. Ungurean.  "This is the culmination of our efforts to
bring increased value to our unitholders.  We believe that this
represents a great opportunity for our company, unitholders,
employees and customers, as well as providing a MLP vehicle for
Westmoreland and its shareholders.  This represents a win for all
stakeholders."

Westmoreland paid a total of $30 million in cash to acquire the GP,
and received 4,512,500 common units of the MLP (on a post-split
basis following the previously disclosed 12-to-1 reverse split of
the MLP's common and general partner units) as consideration for
the Contribution.  The closing of these transactions followed the
successful restructuring of both Westmoreland's and the MLP's debt
arrangements, as well as the approval by the MLP's public
unitholders of the Contribution and the MLP's equity restructuring
through certain previously announced amendments to its partnership
agreement.

In connection with the closing, the MLP's name was changed to
Westmoreland Resource Partners, LP, and the name of the GP was
changed to Westmoreland Resources GP, LLC.  The common units of
Westmoreland LP will trade on the NYSE under the symbol "WMLP".

On Jan. 1, 2015, Westmoreland also completed its acquisition of
Buckingham Coal Company, LLC, an Ohio-based coal supplier, for a
total cash purchase price of $34 million, subject to customary
post-closing adjustments.  Separately, an affiliate of Westmoreland
entered into a five-year coal supply agreement with AEP Generation
Resources Inc., which includes an obligation to purchase a minimum
of 5.5 million tons of coal.

"Westmoreland is happy to implement a long-term supply relationship
with AEP," said Mr. Alessi.  "We were able to realize significant
cost savings through this acquisition and we expect our supply
agreement will provide additional value to our shareholders," he
added.

In connection with the Buckingham Purchase, the Company anticipates
increasing borrowings under its existing senior secured term loan
by approximately $50 million.

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal incurred a net loss applicable to common
shareholders of $6.05 million in 2013, a net loss applicable to
common shareholders of $8.58 million in 2012, and a net loss
applicable to common shareholders of $34.5 million in 2011.

                           *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to B3 from Caa1, and assigned Caa1 rating to the
company's proposed new $300 million First Lien Term Loan, the TCR
reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/
EBITDA will track at around 5x in 2015 and 2016 and that the
company will be break-even to modestly free cash flow positive
over the same time period.


WESTMORELAND COAL: Plans to Raise $50 Million Term Loan
-------------------------------------------------------
In connection with Westmoreland Coal Company seeking to increase
amounts borrowed under its existing term loan credit facility by up
to $50 million, the Company made a presentation to the lenders
under the Company's term loan credit agreement.  The Company plans
to use the proceeds to repay certain amounts advanced under a coal
supply agreement with AEP Generation Resources Inc. and to provide
additional liquidity.

On Dec. 16, 2014, following the successful completion of a
Tender/Consent Solicitation for Westmoreland Coal Company's
existing 10.75% Senior Secured Notes due 2018, the Company
completed a $750 million refinancing of its existing ABL Credit
Facility and the 10.75% Notes.

On Dec. 31, 2014, Westmoreland closed its previously announced
acquisition of Westmoreland Resources GP, LLC (f/k/a Oxford
Resources GP, LLC) following a unitholder approval of the
restructuring of Westmoreland Resource Partners, LP (f/k/a Oxford
Resource Partenrs, LP).

On Jan. 1, 2015, Westmoreland, through its wholly-owned subsidiary,
WCC Land Holding Company, Inc., acquired Buckingham Coal Company,
LLC, a privately-owned coal company with operations in the State of
Ohio, for a purchase price of $34 million.

A copy of the slides presentation is available at:

                        http://is.gd/Sgbw9M

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal incurred a net loss applicable to common
shareholders of $6.05 million in 2013, a net loss applicable to
common shareholders of $8.58 million in 2012 and a net loss
applicable to common shareholders of $34.46 million in 2011.

                           *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to B3 from Caa1, and assigned Caa1 rating to the
company's proposed new $300 million First Lien Term Loan, the TCR
reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/
EBITDA will track at around 5x in 2015 and 2016 and that the
company will be break-even to modestly free cash flow positive
over the same time period.


WET SEAL: Could File for Bankruptcy; 338 Stores Closing
-------------------------------------------------------
Wet Seal Inc. could file for bankruptcy shortly, The Wall Street
Journal reports, citing a person familiar with the matter.

According to WSJ, sources said that the Company has hired
restructuring lawyers to help it with a potential bankruptcy
filing.  The report says that the Company has hired Klee, Tuchin,
Bogdanoff & Stern LLP.

Jaxdailyrecord.com relates that the Company has proceeded with
closing its 338 locations, leaving about 3,695 full- and part-time
workers without jobs.  The Associated Press reports that the
Company expects to pay about $5.4 million to $6.4 million in
charges connected with its store shutdowns.

Jaxdailyrecord.com states that the stores that shut down
represented about 48% of the Company's net sales for the nine
months that ended Nov. 1, 2014.  The Company's two stores in The
Avenues and Regency Square malls in Jacksonville, Florida, were
among the locations the Company closed by Wednesday,
Jaxdailyrecord.com says.

According to Jaxdailyrecord.com, the Company said that it proceeded
with the store closures after assessing its overall financial
condition "and the Company's inability to successfully negotiate
meaningful concessions from its landlords."

As reported by the Troubled Company Reporter on Jan. 9, 2015,
Chelsey Dulaney, writing for The Wall Street Journal, reported that
the Company said it would close 66% or 338 of its stores and lay
off 3,695 employees in a last-ditch effort for the Company to stave
off bankruptcy.  

As previously reported by The Troubled Company Reporter, citing The
Wall Street Journal, the Company warned it may file for bankruptcy
protection if the teen apparel retailer is unsuccessful in the very
near term in addressing its immediate liquidity needs.  The Company
had previously engaged Houlihan Lokey and FTI Consulting to help it
explore financing alternatives.

Analysts say that the Company needs to dramatically overhaul its
brand or find a buyer, Shan Li and Javier Panzar at LA Times
report.  The report quoted  America's Research Group founder  Britt
Beemer as saying, "The best chance of survival is to take the
company private and in turn revitalize the company.  At the rate
they are going now, they won't be here next year."

LA Times states that expensive leases for mall space also weighed
on the Company.  According to the report,  Ron Friedman, a retail
expert at accounting firm Marcum, said, "The best way to get out of
leases on retail stores that aren't performing is through Chapter
11.  Their choices are raise more capital, get rid of all your bad
stores and downsize."

Jaxdailyrecord.com says that the Company expects to run 173 retail
stores in 42 states and Puerto Rico as of Friday, along with its
Internet business.

                          About Wet Seal

The Wet Seal, Inc. -- http://www.wetsealinc.com/-- is a specialty

retailer of fashionable and contemporary apparel and accessory
items.  The Company was incorporated in Delaware and is
headquartered in Foothill Ranch, California.


WET SEAL: Hudson Forbearance to Expire Today
--------------------------------------------
The Wet Seal, Inc. and Hudson Bay Master Fund Ltd. -- the holder of
Wet Seal's Senior Convertible Note dated Sept. 3, 2014, issued by
the Company to the Holder in the original principal amount of $27.0
million -- entered into a Forbearance Agreement on Dec. 29, 2014,
pursuant to which the Holder granted the Company a limited
forbearance for certain specified defaults which occurred under the
Note subject to the Company's ongoing compliance with the
representations, warranties, covenants and agreements contained in
the Forbearance Agreement.

Specifically, the Holder granted the Company a limited forbearance
for certain specified defaults effective from the date of the
Notice through the earliest to occur of (i) Jan. 12, 2015 at 11:59
p.m., (ii) the first minute of the date of any Event of Default
other than the Events of Default specified in the Forbearance
Agreement, (iii) the first minute of the date of any breach by the
Company of any representation, warranty, covenant or agreement
contained in the Forbearance Agreement or (iv) the first minute of
the date of the commencement of any bankruptcy or similar
insolvency proceeding in which the Company is a debtor or
debtor-in-possession.  The Company agreed to reasonably cooperate
with the Holder with respect to the Holder's requests for
information regarding the Company and its subsidiaries and to
reimburse the Holder for certain costs and expenses.

On Jan. 6, 2014, the Company and the Holder entered into Amendment
No. 1 to the Forbearance Agreement amending the Forbearance
Agreement so that the specified defaults covered by the Forbearance
Agreement include additional events of default under the Note
caused by the Store Closures.

In the default notice, Hudson Bay demanded immediate payment of the
event of default redemption price, equal to $28.8 million, plus
costs of collection, including attorneys' fees and disbursements.

An event of default under the Note results in an event of default
under the Company's senior revolving credit facility, whereupon the
lender under the Company's senior revolving credit facility may
declare all amounts owing and payable thereunder to be immediately
due and payable.

                          Store Closures

On Jan. 2, 2015, the Company's Board of Directors approved closing
338 retail stores effective on or about Jan. 7, 2015 and not paying
rent for the month of January 2015 for the closed stores.  The
Company decided to proceed with the Store Closures after assessing
its overall financial condition and the Company's inability to
successfully negotiate meaningful concessions from its landlords.
After the Store Closures, as of the date of this filing the Company
continues to operate 173 retail stores and its e-commerce business.
The Store Closures resulted in the termination of 3,695 full and
part-time employees.  The Company estimates that the 338 retail
stores closed as part of the Store Closures represented 48% percent
of its net sales for the nine months ended Nov. 1, 2014.

In connection with the Store Closures, the Company expects to incur
estimated pre-tax charges ranging from an aggregate of $5.4 million
to $6.4 million, including costs associated with inventory write
off, asset impairments and employee terminations. Charges
associated with inventory write off are estimated to range from
$2.5 to $3.5 million.  Charges associated with asset impairments
(consisting primarily of write-offs of fixtures, furniture and
equipment at the impacted stores) are estimated to be
$2.2 million.  Charges associated with employee severance and other
one-time termination costs arising from the Store Closures are
estimated to be approximately $0.7 million. Such estimates do not
include any claims or demands which may be made by the landlords of
the closed stores for unpaid rent or otherwise.

                          About Wet Seal

The Wet Seal, Inc. -- http://www.wetsealinc.com/-- is a specialty
retailer of fashionable and contemporary apparel and accessory
items. The Company was incorporated in Delaware and is
headquartered in Foothill Ranch, California.

Stephanie Gleason and Lillian Rizzo, writing for Dow Jones' Daily
Bankruptcy Review, reported that Wet Seal has hired Klee, Tuchin,
Bogdanoff & Stern LLP, as restructuring counsel to help the
struggling teen retailer with a potential bankruptcy filing.


WET SEAL: Raises Annual Base Salary of CFO Hillebrandt
------------------------------------------------------
The Wet Seal, Inc., disclosed in a regulatory filing with the
Securities and Exchange Commission earlier this month that on
December 30, 2014, the Board of Directors of the Company authorized
an increase in the annual base salary of Mr. Thomas Hillebrandt,
the interim chief financial officer and interim principal
accounting officer of the Company, from $255,000 to $350,000,
effective on December 30, 2014.

In addition, the Board authorized the designation of Mr.
Hillebrandt as a participant in the Company's Amended and Restated
Severance and Change in Control Plan and the execution by the
Company of a participation agreement with Mr. Hillebrandt
consistent with the terms of the Severance Plan. Pursuant to the
terms of the Severance Plan, Mr. Hillebrandt is entitled to
additional and future compensation in the event of certain types of
terminations and in the event of a change of control of the
Company. The Severance Plan requires a qualifying termination of
employment in addition to a change of control in the Company before
change of control benefits or accelerated equity vesting are
triggered.

                          About Wet Seal

The Wet Seal, Inc. -- http://www.wetsealinc.com/-- is a specialty
retailer of fashionable and contemporary apparel and accessory
items.  The Company was incorporated in Delaware and is
headquartered in Foothill Ranch, California.

Stephanie Gleason and Lillian Rizzo, writing for Dow Jones' Daily
Bankruptcy Review, reported that Wet Seal has hired Klee, Tuchin,
Bogdanoff & Stern LLP, as restructuring counsel to help the
struggling teen retailer with a potential bankruptcy filing.

The Company's board of directors approved closing 338 retail stores
effective on or about Jan. 7, 2015



WISE METALS: Moody's Confirms B3 Corp Family Rating, Outlook Neg
----------------------------------------------------------------
Moody's Investors Service confirmed the B3 Corporate Family Rating
(CFR) and B3-PD Probability of Default rating of Wise Metals
Intermediate Holdings LLC (Wise) and the Caa2 senior unsecured
ratings of the PIK toggle notes of Wise and Wise Holdings Finance
Corporation as co-issuers. Moody's also confirmed the Caa1 senior
secured rating of Wise Metals Group LLC (Wise Metals) and Wise
Alloys Finance Corporation as co-issuers. The outlook is negative.
This concludes the review for possible upgrade initiated on October
6, 2014.

Wise's acquisition by Constellium N.V. (B1 CFR, negative outlook)
was concluded on January 5, 2015 for a cash consideration of $455
million and the assumption of approximately $945 million in debt.
Constellium has not guaranteed the $150 million of PIK toggle notes
at Wise or the $650 million of senior secured notes at Wise Metals.
Debt service on these obligations remains dependent on the earnings
and cash flow generation ability of Wise Metals. Wise, a holding
company with no material operating assets other than its ownership
of Wise Metals, is dependent upon distributions from Wise Metals to
meet its debt service requirements. The acquisition by Constellium
triggered the change of control provision in the PIK toggle notes
and Constellium has initiated a tender offer for the notes at 101%.
Given the current trading level of these notes, Moody's do not
anticipate a material reduction in this debt obligation.

Constellium views its acquisition of Wise as strategically
important in that it increases the company's global footprint with
the added capacity in North America (530 kt although Moody's
estimate Wise is operating at roughly 75% of capacity) and provides
expansion opportunities into the automotive sheet market. Over
time, capital investments of up to $750 million are planned to
increase finishing capacity at Wise to meet anticipated demand for
aluminum products in the automotive industry. The acquisition
significantly increases Constellium's debt levels while the
anticipated investment requirements are expected to result in a
further increase in leverage in the consolidated group.

Outlook Actions:

Issuer: Wise Metals Group LLC

  Outlook, Changed To Negative From Rating Under Review

Issuer: Wise Metals Intermediate Holdings LLC

  Outlook, Changed To Negative From Rating Under Review

Confirmations:

Issuer: Wise Metals Group LLC

  Senior Secured Regular Bond/Debenture (Local Currency) Dec 15,
2018, Confirmed at Caa1, LGD4

Issuer: Wise Metals Intermediate Holdings LLC

  Probability of Default Rating, Confirmed at B3-PD

  Corporate Family Rating, Confirmed at B3

  Senior Unsecured Regular Bond/Debenture (Local Currency) Jun 15,
2019, Confirmed at Caa2, LGD6

Ratings Rationale

Wise is the holding company for Wise Metals Group LLC, which in
turn holds the interests in the operating subsidiaries, Wise Alloys
LLC being the primary earnings generator.

The B3 CFR for Wise reflects the company's high debt levels, low
profit margins and weak credit metrics and benefits from the
company's ownership by Constellium and anticipated support from its
new parent. The rating also considers the impact of high capital
expenditures in 2014 for strategic expansion, which together with
higher than anticipated costs has contributed to stress on debt
protection metrics and EBITDA levels. Based upon performance for
the twelve months through September 30, 2014, leverage, as measured
by the debt/EBITDA ratio, based upon Moody's standard adjustments,
is estimated at roughly 13x for Wise and 11x at Wise Metals. While
Moody's expect an improving trend in 2015 and 2016 as new contracts
with improved pricing and volumes take effect, improvement from the
weaker than anticipated 2014 performance could be protracted.

The rating considers Wise Metals good position in the North
American beverage can sheet market and its solid customer base with
sales supported by multi-year contracts. Despite Moody's view that
the US can sheet market is in a slow secular decline, Wise Metals
is well positioned to maintain its volume levels in this market.
The company has long-term contracts with Coca Cola, a consortium of
bottlers under Anheuser Busch LLC and Rexam, all with staggered
expiry dates. For the nine months through September 30, 2014, the
company's three largest customers contributed roughly 82% of
revenue. For 2015, approximately 69% of capacity is committed.
However, given the fixed costs in the business, volume growth and
improved capacity utilization are seen as critical to earnings and
cash flow improvement. The rating also anticipates that with the
completion in 2014 of the strategic capital expansion at Wise
Metals, more modest capital expenditure levels in 2015, and the
benefits of improved contract terms the company should be break
even to modestly free cash flow generative.

The Caa2 rating on the Wise PIK toggle notes reflects their
structural subordination within the liability waterfall to a
significant amount of secured debt and reliance on dividend
payments from Wise Metals. These notes have no guarantees. The Caa1
rating on the Wise Metals senior secured debt, guaranteed by
certain subsidiaries, including Wise Alloys LLC reflects the weaker
security available to this instrument relative to the company's
asset-backed revolving credit facility ("ABL") and priority
accounts payable.

The company's liquidity is currently supported by a $400 million
ABL which was recently increased to support normal seasonal working
capital requirements. The facility will reduce to $320 million in
March 2015. The company also plans to enter into a receivables
purchase agreement, which would result in a further reduction in
the ABL given the reduced receivable levels that would be available
to support. The facility has a fixed charge coverage ratio
requirement should availability fall below 10% of the commitment
amount.

The negative outlook reflects headwinds facing the company in
improving its earnings and cash generation profile, as well as
potential integration challenges and requirements of being part of
a publicly listed and traded company. In addition, the outlook
considers that the strategic investment requirements are likely to
result in increased leverage as cash flow generation is not seen as
sufficient to support.

The rating could be pressured should market fundamentals
deteriorate and the company experience sustained volume and margin
declines or should the time horizon for an improvement in credit
metrics encounter further delays. Quantitatively, ratings could be
downgraded if debt-to-EBITDA is likely to be sustained above 6x,
EBIT-to-interest below 1.5x, or if the company generates negative
free cash flow on a sustained basis. A significant contraction in
liquidity or availability under the ABL and other liquidity
facilities, or further leveraging of the company could also
negatively affect the rating.

An upgrade is unlikely at this time due to Wise's highly leveraged
profile, modest earnings base, slow recovery in general demand for
aluminum products and the uncertainty over future financial
policies.

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

Headquartered in Muscle Shoals, Alabama, Wise Metals Intermediate
Holdings LLC ("Holdings") is a holding company that owns a 100%
stake in Wise Metals Group LLC ("Wise Metals"), which, in turn,
owns 100% of Wise Alloys LLC ("Wise Alloys"), a producer of rolled
aluminum products supplying primarily the North American can sheet
market. Wise Alloys contributes the majority of the company's
consolidated revenues. Wise Metals also wholly-owns Listerhill
Total Maintenance Center LLC, which provides project and
maintenance engineering services, Alabama Electric Motor Services
LLC, which sells and services electric motors and Wise Recycling
LLC ("Wise Recycling"), which collects, processes and sells scrap
metal. Moody's collectively refer to the group of companies as
"Wise". Consolidated revenues for the fiscal year ending December
31, 2013 were approximately $1.3 billion and relatively unchanged
for the twelve months through September 30, 2014.



XRPRO SCIENCES: Sells 1.2 Million Units for $8.8 Million
--------------------------------------------------------
XRpro Sciences, Inc., sold in a private placement offering 716,981
units at a per unit price of $7.00 to accredited investors for
aggregate cash proceeds of $5.019 million pursuant to a master
purchase agreement entered into with the investors, according to a
regulatory filing with the U.S. Securities and Exchange Commission.


Each unit consists of four shares of common stock of the Company
and a five year warrant to acquire one share of the Company's
common stock, par value, $0.001 per share at an exercise price of
$1.75 per share.  On Jan. 7, 2015, the Company consummated the
second closing in the Offering and sold an additional 548,019 Units
for additional aggregate cash proceeds of $3.84 million.  The
aggregate total number of Units sold in both closings was 1,265,000
Units for total gross proceeds of $8.86 million.

The Warrants contain cashless exercise provisions, have an initial
exercise price of $1.75 per share and are exercisable for a period
of five years from the date of issuance.  Each warrant is
exercisable for one share of Common Stock, which resulted in the
issuance of Warrants exercisable to purchase an aggregate of
1,265,000 shares of Common Stock in the Offering.

The Company retained Taglich Brothers, Inc., as the exclusive
placement agent for the Offering.  In connection therewith, the
Company agreed to pay the placement agent an 8% commission from the
gross proceeds of the Offering ($708,400) and reimbursed
approximately $35,000 in respect of out of pocket expenses, FINRA
filing fees and related legal fees incurred by the placement agent
in connection with the Offering.  The Company also issued the
placement agent a five-year warrant exercisable for an aggregate
amount of 506,000 shares of Common Stock at an exercise price of
$1.75 per share and an advisory warrant exercisable for an
additional 200,000 shares of Common Stock at an exercise price of
$1.75 per share.

In connection with the Offering, the Company has agreed to prepare
and file a registration statement with the SEC within 90 days of
the final closing date of the Offering (Jan. 7, 2015) for the
resale by the purchasers of all of the Shares and the Common Stock
underlying the Warrants and all shares of Common Stock issuable
upon any stock split, dividend or other distribution,
recapitalization or similar event with respect thereto.  In
addition, the Company has agreed to register the shares of Common
Stock underlying the Placement Agent Warrants.

                            About XRpro

Caldera Pharmaceuticals, Inc., amended its certificate of
incorporation to change its name to XRpro Sciences, Inc., effective
Dec. 4, 2014.

Based in Cambridge, Massachusetts, Caldera is a drug discovery and
pharmaceutical services company that is based on a proprietary
x-ray fluorescence technology, called XRpro(R).

Caldera incurred a net loss applicable to common stock of
$5.88 million in 2013, a net loss of $952,000 in 2012, and a net
loss of $2.35 million in 2011.

The  balance sheet at Sept. 30, 2014, showed $3.96 million in total
assets, $3.60 million in total liabilities, $133,000 in convertible
redeemable preferred stock, and $225,000 of stockholders' equity.


Z TRIM HOLDINGS: Edward Smith Has 62.1% Stake as of Jan. 8
----------------------------------------------------------
As disclosed in a regulatory filing with the U.S. Securities and
Exchange Commission, as of Jan. 8, 2015:

    (i) None of Brightline Capital Management, LLC, Brightline GP,
        LLC, or Mr. Nick Khera may be deemed to be the beneficial
        owners of any Shares;

   (ii) Aristar Capital Management, LLC, and Aristar Capital
        Management GP, LLC, may be deemed to be the beneficial
        owner of 32,919,021 Shares, constituting 61.1% of the
        Shares;

  (iii) Mr. Edward B. Smith may be deemed to be the beneficial
        owner of 33,894,602 Shares, constituting 62.1% of the
        Shares;

   (iv) Aristar Ventures I may be deemed to be the beneficial
        owner of 29,854,716 Shares, constituting 55.7% of the
        Shares; and

    (v) Aristar Ventures I-B may be deemed to be the beneficial
        owner of 1,985,448 Shares, constituting 5.0% of the
        Shares.

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

                        http://is.gd/zrU0WL

                            About Z Trim

Mundelein, Ill.-based Z Trim Holdings, Inc., is a functional food
ingredient company which provides custom product solutions that
help answer the food industry's problems.  Z Trim's revolutionary
technology provides value-added ingredients across virtually all
food industry categories.  Z Trim's all-natural products, among
other things, help to reduce fat and calories, add fiber, provide
shelf-stability, prevent oil migration, and add binding capacity
-- all without degrading the taste and texture of the final food
products.

Z Trim Holdings reported a net loss of $13.4 million in 2013, a
net loss of $9.58 million in 2012, and a net loss of $6.94 million
in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $3.17 million
in total assets, $3.28 million in total liabilities, and a $104,600
stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company does not have enough cash on hand to meet its current
liabilities and has had reoccurring losses as of Dec. 31, 2013.
These conditions raise substantial doubt about its ability to
continue as a going concern.


[*] 2014 Had Fewest Public Company Bankruptcies in 30 Years
-----------------------------------------------------------
George Putnam at Seeking Alpha writes that 2014 had the fewest
public company bankruptcy filings since 1980, with health care or
medical bankruptcies representing 15% of the total or with eight of
the year's bankruptcies.  

According to Seeking Alpha, Chapter 7 or Chapter 11 filings by
publicly traded companies dropped to 54 in 2014, from 71 in 2013.

BankruptcyData.com reports that all categories of business
bankruptcies by public and private companies have declined steadily
since 2007, and 2014 saw a 19% drop in filings since 2013.

Seeking Alpha says that the downturn in oil prices would cause some
bankruptcy filings among the more leveraged exploration and
production companies, drillers and oilfield service companies.  The
report adds that there are likely to be more restructurings outside
of the oil patch, as a variety of companies with heavy debt loads
face significant debt maturities in 2015 and early 2016.

Seeking Alpha says that Energy Future Holdings is the largest
Chapter 11 filing last year.


[*] Former Federal Prosecutor to Join Debevoise & Plimpton
----------------------------------------------------------
Ben Protess, writing for The New York Times' DealBook, reported
that David A. O'Neil, a longtime federal prosecutor who helped the
government negotiate one of the biggest corporate plea deals in
American history, has landed in the private sector after saying in
an interview that he would join the law firm Debevoise & Plimpton
as a partner in its Washington office, where he will handle
white-collar defense and cybersecurity issues.

According to the report, Mr. O'Neil -- who as acting head of the
Justice Department's criminal division helped extract an $8 billion
plea deal from BNP Paribas, the French bank accused of doing
business with Iran -- will join Debevoise two years after the firm
lost two top litigators to the Obama administration.  Mary Jo White
left Debevoise to become chairwoman of the Securities and Exchange
Commission, while Andrew J. Ceresney, one of her top lieutenants,
became the commission’s enforcement director, the DealBook noted.


[*] Two More Colorado Foreclosure Law Firms Charged with Fraud
--------------------------------------------------------------
Reuters reported that - Colorado's Attorney General John Suthers
has sued two more law firms -- Robert J. Hopp & Associates and The
Hopp Law Firm, and The Vaden Law Firm, including the firms'
principals and their affiliated title companies -- in the state for
fraud, accusing them of inflating foreclosure costs charged to
homeowners, his office said.

According to the report, as part of an ongoing investigation,
Suthers has filed eight civil law enforcement actions against
Colorado foreclosure law firms in 2014, five of which resulted in
settlements totaling nearly $12 million.


[^] BOND PRICING: For The Week From January 5 to 9, 2015
--------------------------------------------------------
   Company              Ticker  Coupon Bid Price  Maturity Date
   -------              ------  ------ ---------  -------------
Alabama Gas Corp        ALAGAS   5.700    99.900      1/15/2035
Alion Science &
  Technology Corp       ALISCI  10.250    94.849       2/1/2015
Allen Systems
  Group Inc             ALLSYS  10.500    34.000     11/15/2016
Allen Systems
  Group Inc             ALLSYS  10.500    34.000     11/15/2016
Alpha Natural
  Resources Inc         ANR      6.000    29.353       6/1/2019
Alpha Natural
  Resources Inc         ANR      9.750    45.647      4/15/2018
American Eagle
  Energy Corp           AMZG    11.000    41.000       9/1/2019
American Eagle
  Energy Corp           AMZG    11.000    42.000       9/1/2019
Arch Coal Inc           ACI      7.000    30.401      6/15/2019
Arch Coal Inc           ACI      9.875    34.124      6/15/2019
BB Liquidating Inc      BLIA     9.000     1.000       9/1/2012
BPZ Resources Inc       BPZ      8.500    36.500      10/1/2017
Black Elk Energy
  Offshore Operations
  LLC / Black Elk
  Finance Corp          BLELK   13.750    76.500      12/1/2015
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.750     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    18.750       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     12.750    14.000      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.625     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      6.500    11.600       6/1/2016
Caesars Entertainment
  Operating Co Inc      CZR      5.750    12.750      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.750     8.750       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.750     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      5.750    11.875      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.500     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.750     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    18.375       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.375     12/15/2018
Cal Dive
  International Inc     CDVI     5.000    12.000      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    42.130     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    41.750     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    41.750     11/15/2017
Dendreon Corp           DNDN     2.875    61.000      1/15/2016
EI du Pont de
  Nemours & Co          DD       3.250   100.229      1/15/2015
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    35.875       3/1/2018
Endeavour
  International Corp    END     12.000    35.875       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     5.725       2/1/2018
Exide Technologies      XIDE     8.625     5.125       2/1/2018
Exide Technologies      XIDE     8.625     5.125       2/1/2018
FBOP Corp               FBOPCP  10.000     1.843      1/15/2009
FairPoint
  Communications
  Inc/Old               FRP     13.125     1.879       4/2/2018
Federal Home Loan
  Mortgage Corp         FHLMC    3.200    99.285     10/15/2025
Federal Home Loan
  Mortgage Corp         FHLMC    3.200    99.285     10/15/2025
Fleetwood
  Enterprises Inc       FLTW    14.000     3.557     12/15/2011
Ford Motor
  Credit Co LLC         F        3.875   100.129      1/15/2015
Forest Oil Corp         FSTO     7.250    31.095      6/15/2019
Forest Oil Corp         FSTO     7.500    28.793      9/15/2020
Global Geophysical
  Services Inc          GEGS    10.500     1.500       5/1/2017
Global Geophysical
  Services Inc          GEGS    10.500     1.050       5/1/2017
Goldman Sachs
  Group Inc/The         GS       5.125   100.264      1/15/2015
Gymboree Corp/The       GYMB     9.125    38.900      12/1/2018
Hutchinson
  Technology Inc        HTCH     8.500    99.725      1/15/2026
John Hancock Life
  Insurance Co          MFCCN    3.230    99.881      1/15/2015
John Hancock Life
  Insurance Co          MFCCN    3.160    99.875      1/15/2015
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
Metropolitan
  Baptist Church        METBC    8.400     9.000      6/15/2021
Molycorp Inc            MCP      6.000    30.000       9/1/2017
Molycorp Inc            MCP      3.250    28.550      6/15/2016
Molycorp Inc            MCP      5.500    28.500       2/1/2018
Momentive Performance
  Materials Inc         MOMENT  11.500     1.875      12/1/2016
NII Capital Corp        NIHD     7.625    15.800       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
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     7.574       4/1/2016
Quicksilver
  Resources Inc         KWK      9.125    20.250      8/15/2019
Quicksilver
  Resources Inc         KWK     11.000    25.350       7/1/2021
RAAM Global Energy Co   RAMGEN  12.500    42.500      10/1/2015
RadioShack Corp         RSH      6.750    14.000      5/15/2019
RadioShack Corp         RSH      6.750    15.000      5/15/2019
RadioShack Corp         RSH      6.750    15.000      5/15/2019
Sabine Oil & Gas LLC /
  Sabine Oil & Gas
  Finance Corp          NFREGY   9.750    45.250      2/15/2017
Samson Investment Co    SAIVST   9.750    36.875      2/15/2020
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     15.000    18.063       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     9.250      11/1/2015
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     10.500     9.250      11/1/2016
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     10.500     9.000      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     8.125      11/1/2015
Tunica-Biloxi
  Gaming Authority      PAGON    9.000    65.250     11/15/2015
Walter Energy Inc       WLT      9.875    19.100     12/15/2020
Walter Energy Inc       WLT      8.500    16.064      4/15/2021
Walter Energy Inc       WLT      9.875    19.000     12/15/2020
Walter Energy Inc       WLT      9.875    19.000     12/15/2020
Western Express Inc     WSTEXP  12.500    89.250      4/15/2015
Western Express Inc     WSTEXP  12.500    92.750      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.

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 nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

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 2015.  All rights reserved.  ISSN: 1520-9474.

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