TCR_Public/150121.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, January 21, 2015, Vol. 19, No. 21

                            Headlines

ACG CREDIT: DuffyAmedeo Seeks Approval to Withdraw as Counsel
ACME HOLDING: 3 Largest Creditors Want Case Converted Ch. 7
AEREO INC: U.S. Trustee Forms Creditors' Committee
ALL AMERICAN TRAILER: Ruling on Case Dismissal Date Affirmed
AMERICAN EQUITY: A.M. Best Affirms 'bb' Preferred Stock Rating

ARCAPITA BANK: RA Holdco 2 Pays Exit Facility in Full
ATLS ACQUISITION: Creditors' Committee Wants to Sue Management
AUBURN GROUP: Files for Ch 11; Delray Beach May Buy Bank Loan
AUTOMATED BUSINESS: Seeks to Extend Cash Collateral Use to June 30
AVIS COPELIN: Foreclosure Sale to Great Western Valid, Judge Says

AVIS COPELIN: Great Western Action Did Not Violate Automatic Stay
BAXANO SURGICAL: Panel Hires Morris Nichols as Co-counsel
BERNARD L. MADOFF: Customers Appeal Over Claims for Profits
BEST PAYPHONES: Rift With New York City Remains Open
BRAVO CEMENT: Ontario Court Set March 9 as Claims Bar Date

BUDD COMPANY: Hires ARPC as Asbestos Liabilities Consultant
CAESARS ENTERTAINMENT: Clark County Not An Unsecured Creditor
CAESARS ENTERTAINMENT: Court Stays Illinois Bankruptcy Filing
CAESARS ENTERTAINMENT: Del. Court to Hear Venue Issue on Jan. 26
CAESARS ENTERTAINMENT: Federal Judge Criticizes Restructuring

CAESARS ENTERTAINMENT: Memorandum in Support of Ch. 11 Petitions
CAESARS ENTERTAINMENT: Proposes to Pay $16MM to Critical Vendors
CAESARS ENTERTAINMENT: Seeks Approval of First-Day Motions
CASH STORE: Enters Into Purchase Agreement with easyhome
CENTRAL OKLAHOMA: Burian Named Substitute PCO

CHRYSLER LLC: 6th Cir. Rules on Dispute With Auto Dealers
CLOUDEEVA INC: Saul Ewing Approved as Counsel for Trustee
CLOUDEEVA INC: Trustee OK'd to Assume Debtors' Agreements
CLOUDEEVA INC: Trustee Taps Chrysalis Mgt. as Financial Advisor
CLOUDEEVA INC: Trustee Taps Punhani to Handle Immigration Matters

COMMERCIAL MONEY: Cal. App. Court Won't Revive Clayton Claims
DAHL'S FOODS: Equity Ventures Offers $2.8MM for Clive Location
DAHL'S FOODS: Mum on Winning Bidder of Assets
DEB STORES: Takes Down Website, Stores May Stay Open Until March
DELIA'S INC: A&G Realty to Manage Sale of Retail Store Leases

DETROIT, MI: Bankruptcy Costs Reach About $178 Million
DETROIT, MI: Jones Day Cuts $17.7MM from Legal Bills
DETROIT, MI: Judge Invites 'Civil' Comments on Lawyers' Fees
DORAL FINANCIAL: Tax Refund Win Challenged by Puerto Rico
ENERGY FUTURE: To Have "Unmanifested" Asbestos Claims Bar Date

ERNEST FIELDING: Bankrupts Can Cram Home-Sale Proceeds Down on IRS
FAIRFIELD SENTRY: 2nd Circuit Denies Farnum's En Banc Review Plea
FILENE'S BASEMENT: Successor Lines Up $50MM in Financing
GASPARI NUTRITION: Sold to Body Temple Unit for $10.1MM
GENERAL MOTORS: Issues Three More Recalls to Close Out 2014

GLOBAL CLEAN: Losses, Deficit Raise Going Concern Doubt
GOLD RIVER VALLEY: Files for Chapter 11 in Los Angeles
HOWREY LLP: Trustee Reaches $1.85-Mil. Deal with Wiley Rein
KID BRANDS: District Judge Junks S. Wallis' Appeal
KIOR INC: MDA Seeks Approval to Sue KFT Trust, Five Others

LIFE PARTNERS: Files Voluntary Chapter 11 Bankruptcy Petition
LIGHTSQUARED INC: Disclosures OK'd; Plan Hearing to Start March 9
LVN PROPERTY: Case Summary & 5 Largest Unsecured Creditors
MATT'S TEX MEX: Voluntary Chapter 11 Case Summary
MEADOWBROOK INSURANCE: A.M. Best Puts 'bb' ICR Under Review

NEW YORK CITY OPERA: Two Suitors Prepare Bids for Jan. 27 Auction
NII HOLDINGS: Bondholders Could Earn Up to $15MM in Stock Sale
PEMBROKE RESIDENCE: Faber to Auction Assets; Bid Deadline Feb. 10
PLATTSBURGH SUITES: Files for Chapter 11 with $32-Mil. Debt
PORT AGGREGATES: Meeting of Creditors Set for Feb. 10

RADIOSHACK CORP: Reportedly Wants to Sell Some Stores to Sprint
RECYCLE SOLUTIONS: Hires Dermo Realty as Real Estate Professional
REICHHOLD HOLDINGS: Seeks More Time to Propose Chapter 11 Plan
REVEL AC: Judge Approves $21-Mil. Increased Financing
REVEL AC: Judge Approves $26 Million Tax Settlement

RIDGEFIELD CHRISTIAN: Files for Chapter 11 Bankruptcy Protection
SAPPHIRE DEVELOPMENT: Abstention Is No Surrogate to Dismiss
SIGA TECHNOLOGIES: Gets Court Approval to Pay off GECC Claim
SISTER 2 SISTER: To Stop Publication of Magazine
SRI SRI LLC: Case Summary & 4 Largest Unsecured Creditors

STOCKTON, CA: Can Leave Bankruptcy Despite Appeal
SUNTECH AMERICA: Can Employ Upshot as Claims & Noticing Agent
SUNTECH AMERICA: Court Issues Joint Administration Order
SUNTECH AMERICA: Section 341(a) Meeting Scheduled for Feb. 9
SUNTECH AMERICA: Seeks to Sell Arizona PV Manufacturing Equipment

TECHNIPLAS LLC: Moody's Assigns B2 Corporate Family Rating
[*] ABI Panel Says Rein In Quick Sales at Low Values
[*] Bankruptcy Code Forces Rush of Empty Stores
[*] Commercial Bankruptcy Filings Down 22% in 2014
[*] Greenberg Glusker Bags M&A "Restructuring of the Year" Award


                            *********

ACG CREDIT: DuffyAmedeo Seeks Approval to Withdraw as Counsel
-------------------------------------------------------------
DuffyAmedeo LLP has filed a motion seeking court approval to
withdraw as legal counsel of ACG Credit Company II, LLC.

In its motion, DuffyAmedeo cited as reason for its withdrawal the
company's failure to pay its fees despite repeated requests from
the law firm.

DuffyAmedeo claims it is owed $73,750 in fees.

                  About ACG Credit Company II

New York-based ACG Credit Company II, LLC, filed a Chapter 11
bankruptcy petition (Bankr. D. Del. Case No. 14-11500) on June 17,
2014.  The Debtor estimated $10 million to $50 million in assets
and $1 million to $10 million in liabilities.  Ian Peck signed the
petition as director.  Gellert Scali Busenkell & Brown, LLC, serves
as the Debtor's counsel.


ACME HOLDING: 3 Largest Creditors Want Case Converted Ch. 7
-----------------------------------------------------------
George Waldon at Arkansasbusiness.com reports that Chambers Bank, C
Holdings LLC, and Hildene Asset Management LLC, three of Acme
Holding Company, Inc.'s largest creditors, are asking the Hon. Ben
T. Barry of the U.S. Bankruptcy Court for the Western District of
Arkansas to convert the Debtor's Chapter 11 bankruptcy
reorganization to Chapter 7 liquidation or dismiss the case.

Arkansasbusiness.com relates that the Debtor owes:

      a. Chambers Bank, the largest creditor, almost $4.6 million
         on two loans dating to September and December 2010, a
         debt secured by the Debtor's Allied Bank stock;

      b. Hildene Asset Management, with its Hildene Opportunities
         Master Fund Ltd., the second-largest creditor, about $3.3

         million, a debt tied to principal and interest owed on
         trust-preferred securities issued for the benefit of the
         Debtor on March 26, 2003; and

      c. C Holdings, an affiliate of Chambers Bank, more than
         $1.4 million on loans to the Debtor's employee stock
         ownership plan.  The loans were acquired from Southern
         Bank.

According to Arkansasbusiness.com, the Petitioners don't believe
the Debtor's flagging fortunes can be reversed, and call for its
largest asset -- its stock ownership of the $119 million-asset
Allied Bank -- to be auctioned.  Chambers Bank, according to court
documents, believes that Lex Golden's management has guided the
Debtor and Allied Bank into an irretrievable dive and that an
auction of the Allied Bank stock is the only sensible thing to do
to prevent a more costly financial crash.

Arkansasbusiness.com says that during the past four years, Allied
Bank has lost more than $9 million, and that its total assets have
plunged by $70 million.  The report states that Allied Bank's
declining condition prompted regulators to suspend dividend
payments.  Court documents show that Allied Bank is operating under
a cease-and-desist order issued by the Arkansas State Bank
Department dated Nov. 15, 2011, and amended on Dec. 18, 2012.  The
Debtor, Arkansasbusiness.com adds, has lost more than $11 million
during the past four years.

Chambers Bank said in court documents, "It is readily apparent that
[Acme] is in worse position than it was when the bankruptcy case
was filed and will be unable to service its debt for the
foreseeable future."  Mr. Golden, according to court filings,
disagrees, and believes that the Debtor and Allied Bank can be
restored to profitability with more time and court-approved
forbearance, even though it's unknown when Allied Bank will return
to the good graces of regulators and be in a position to declare
dividends -- the Debtor's sole source of income -- to fund the
Debtor's debt.

The Debtor's court documents mention the possible sale of assets by
Allied Bank -- two Little Rock bank branches at 1022 W. Capitol
Avenue and 4900 Kavanaugh Boulevard that were closed in 2014 and
marked for sale -- for a combined $2.3 million that might benefit
creditors.

Arkansasbusiness.com reports that the Debtor's reorganization plan
calls for three of its largest debts to be converted to preferred
shares, with no voting rights or representation on the board of
directors: (i) 250,000 shares of preferred stock in exchange for
the trust-preferred securities claim of $3.3 million; (ii) 300,000
shares of preferred stock in exchange for C Holdings' claim of $1.4
million; and (iii) 2 million shares of preferred stock in exchange
for the unfiled Axys Capital Management claim of $2 million.  The
report says that Hildene Asset and C Holdings would have to write
down their claims, but not Axys Management.  According to the
report, the more favorable treatment of the claim of Axys
Management drew an objection from C Holdings.

                  About Acme Holding Company

Headquartered in Mulberry, Arkansas, Acme Holding Company, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. W.D. Ark. Case
No. 14-71315) on April 29, 2014, estimating its assets at up to
$50,000, and its liabilities at between $1 million and $10 million.
The petition was signed by Alexander "Lex" P. Golden, III, chief
executive officer.  Judge Ben T. Barry presides over the case.
Stanley V Bond, Esq., at Bond Law Office, serves as the Debtor's
bankruptcy counsel.

Another filing was made on the same day for Acme Holding (Case No.
14-71316).


AEREO INC: U.S. Trustee Forms Creditors' Committee
--------------------------------------------------
The U.S. Trustee for Region 2 appointed three creditors of Aereo,
Inc. to serve on the official committee of unsecured creditors:

     (1) Level 3 Communications, LLC
         1025 Eldorado Blvd.
         Broomfield, CO 80021
         Attention: Ryan McManis
         Vice President and Assistant General Counsel
         Phone: (720) 888-1000
         Fax: (720) 888-5619
         Email: ryan.mcmanis@level3.com

     (2) Quality Investment Properties Metro, LLC
         12851 Foster Street
         Overland Park, KS 66213
         Attention: Ashley Mulcahy, Staff Attorney
         Phone: (913) 814-9988
         Fax: (877) 772-5290
         Email: ashley.mulcahy@qtsdatacenters.com

     (3) C7 Data Centers, Inc
         357 South 670 West
         Suite 100
         Bluffdale, UT 84042
         Attention: David Jenkins, VP Operations
         Phone: (801) 822-5340
         Fax: (801) 822-5301
         Email: d.jenkins@c7.com

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                        About Aereo, Inc.

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

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

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

The Debtor disclosed $22.2 million in assets and $2.78 million in
liabilities as of the Chapter 11 filing.


ALL AMERICAN TRAILER: Ruling on Case Dismissal Date Affirmed
------------------------------------------------------------
Florida District Judge Beth Bloom tossed an appeal by Pro Finish,
Inc., which seeks review of a final order issued by the U.S.
Bankruptcy Court for the Southern District of Florida granting All
American Trailer Manufacturers, Inc.'s motion to correct a clerical
error and reflect the dismissal of All American's bankruptcy case
nun pro tunc to April 30, 2013.  The appeal is denied and the
Bankruptcy Court's Order Correcting Clerical Error is affirmed,
Judge Bloom ruled.

In the Order on Appeal, the Bankruptcy Court held that -- by bench
ruling both at the initial hearing on April 30, 2013 and again at
the re-noticed hearing on June 4, 2013 -- it had previously ordered
the Bankruptcy Case dismissed as of April 30, 2013. It determined
that failure of the Dismissal Order, issued on June 11, 2014, to
reference the proper date of dismissal was a clerical error, which
could be rectified by issuing nunc pro tunc relief.

Judge Bloom said the Bankruptcy Court did not abuse its discretion
in interpreting its own orders.

Pro Finish was scheduled as the Debtor's second largest creditor.
All American agreed to build a custom trailer for Pro Finish.  The
Debtor breached the contract and fraudulently induced Pro Finish to
pay.  In March 2011, Pro Finish sued the Debtor in the Circuit
Court of the Seventeenth Judicial Circuit in and for Broward
County, Florida, and was awarded a judgment against the Debtor of
$49,928.59 "as damages for breach of contract and fraud."

A copy of the Court's January 12 Opinion and Order is available at
http://is.gd/7DxSvtfrom Leagle.com.

The case before the District Court is, PRO FINISH, INC., Appellant,
v. JOHN A. MOFFA, Assignee of the Assignment Estate of ALL AMERICAN
TRAILER MANUFACTURERS, INC., Appellee. In re: ALL AMERICAN TRAILER
MANUFACTURERS, INC, Debtor, Case No. 14-CIV-62446-BLOOM (S.D.
Fla.).

Pro Finish, Inc., is represented by:

     Kevin Christopher Gleason, Esq.
     KEVIN GLEASON PA
     4121 North 31st Avenue
     Hollywood, FL 33021
     Tel: (954) 925-0902

John A. Moffa is represented by:

     Stephen Charles Breuer, Esq.
     MOFFA & BONACQUISTI, P.A.
     1776 N Pine Island Rd., Suite 102
     Plantation, FL 33322
     Tel: 954-634-4733
     Fax: 954-337-0637
     E-mail: Stephen@TrusteeLawFirm.com

All American Trailer Manufacturers, Inc. filed a Chapter 11
petition (Bankr. S.D. Fla. Case No. 12-24619) on June 15, 2012,
listing under $1 million in both assets and liabilities.  A copy of
the petition is available at no extra charge at
http://bankrupt.com/misc/flsb12-24619.pdf Eduardo E. Dieppa, III,
Esq. -- edieppa@dieppalaw.com -- at Dieppa Law Firm P.A., served as
Chapter 11 counsel.


AMERICAN EQUITY: A.M. Best Affirms 'bb' Preferred Stock Rating
--------------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of A-
(Excellent) and issuer credit ratings (ICR) of "a-" of American
Equity Investment Life Insurance Company and its subsidiaries,
American Equity Investment Life Insurance Company of New York (Lake
Success, NY) and Eagle Life Insurance Company, collectively
referred to as AEL.  Concurrently, A.M. Best has affirmed the ICR
of "bbb-" and the debt and shelf ratings of AEILIC's parent,
American Equity Investment Life Holding Company [NYSE:AEL].  The
outlook for all ratings is stable.  All companies are domiciled in
West Des Moines, IA, unless otherwise specified.

The affirmation of the ratings reflects AEL's position as a leading
provider of fixed indexed annuities (FIA), consistently ranking in
the top three by market share.  Additionally, the expanded
utilization of Eagle Life Insurance Company to offer FIAs through
broker-dealers provides diversification to AEL's distribution
channels.  AEL has reported favorable statutory and U.S. GAAP
operating earnings due to stable premium trends and management of
interest rate margins.  Risk-adjusted capitalization remains
adequate for its investment, insurance and business risks,
supported by a well-diversified investment portfolio.  Despite an
increase in debt at the holding company following a debt issuance
in 2013, the company's financial leverage and interest coverage
ratios are within guidelines for the current rating, and are
expected to improve slightly following the redemption and maturity
of its outstanding convertible notes.

Partially offsetting these positive factors is AEL's concentration
in FIAs, with only modest product diversification.  New market
entrants have heightened the competitiveness of the FIA market and
may pressure AEL's growth and strain future operating performance.
Furthermore, the continued low interest rate environment and
potential for higher derivative costs from equity market volatility
may negatively impact operating returns.  Additionally, the
commercial mortgage loan portfolio maintains a moderate percentage
of loans with weak debt service coverage ratios.  A.M. Best notes
that the risk of disintermediation under rising interest rate
scenarios is relatively low given the strong surrender charge
coverage on the majority of AEL's policies.

Positive rating action for American Equity Investment Life and its
subsidiaries is unlikely due to its concentrated business and
reserve profile that remains highly interest-rate sensitive.
Factors that could lead to negative rating actions include a
weakened market position, unfavorable trends in net premiums
written or interest rate margins, or declines in risk-adjusted
capitalization.

The following debt ratings have been affirmed:

American Equity Investment Life Holding Company

  -- "bbb-" on $200 million 3.5% sr unsecured convertible notes,
due 2015

  -- "bbb-" on $400 million 6.625% sr unsecured notes, due 2021

The following indicative ratings under the shelf registration have
been affirmed:

American Equity Investment Life Holding Company

  -- "bbb-" on senior unsecured debt
  -- "bb+" on subordinated debt
  -- "bb" on preferred stock

American Equity Capital Trust V and VI

  -- "bb" on trust preferred securities


ARCAPITA BANK: RA Holdco 2 Pays Exit Facility in Full
-----------------------------------------------------
RA Holding Corp. on Jan. 20 disclosed that RA Holdco 2, the
Company's indirect subsidiary, has paid in full that certain
Superpriority Debtor-In-Possession and Exit Facility Master
Murabaha Agreement with Goldman Sachs International, as the
Investment Agent for the Participants.  The Company has also agreed
that, as soon as practical, the Company's wholly-owned subsidiary,
RA Holding Mudareb Limited, shall redeem approximately $124.5
million of the sukuk certificates issued pursuant to the Second
Amended Joint Plan of Reorganization of Arcapita Bank B.S.C.(c).

                     About RA Holding Corp.

RA Holding Corp. is the top-level holding company in the group
created pursuant to the plan of reorganization of Arcapita Bank
B.S.C.(c) and certain of its affiliates under chapter 11 of the
United States Bankruptcy Code.

                       About Arcapita Bank

Arcapita Bank B.S.C., also known as First Islamic Investment Bank
B.S.C., along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 12-11076) in Manhattan on March 19,
2012.  The Debtors said they do not have the liquidity necessary to
repay a US$1.1 billion syndicated unsecured facility when it comes
due on March 28, 2012.

Falcon Gas Storage Company, Inc., filed a Chapter 11 petition
(Bankr. S.D.N.Y. Case No. 12-11790) on April 30, 2012.  Falcon Gas
is an indirect wholly owned subsidiary of Arcapita that previously
owned the natural gas storage business NorTex Gas Storage Company
LLC.  In early 2010, Alinda Natural Gas Storage I, L.P. (n/k/a Tide
Natural Gas Storage I, L.P.), Alinda Natural Gas Storage II,
L.P. (n/k/a Tide Natural Gas Storage II, L.P.) acquired the stock
of NorTex from Falcon Gas for $515 million. Arcapita guaranteed
certain of Falcon Gas' obligations under the NorTex Purchase
Agreement.

The Debtors tapped Gibson, Dunn & Crutcher LLP as bankruptcy
counsel, Linklaters LLP as corporate counsel, Towers & Hamlins LLP
as international counsel on Bahrain matters, Hatim S Zu'bi &
Partners as Bahrain counsel, KPMG LLP as accountants, Rothschild
Inc. and financial advisor, and GCG Inc. as notice and claims
agent.

Milbank, Tweed, Hadley & McCloy LLP represented the Official
Committee of Unsecured Creditors.  Houlihan Lokey Capital, Inc.,
served as its financial advisor and investment banker.

Founded in 1996, Arcapita is a global manager of Shari'ah-compliant
alternative investments and operates as an investment bank.
Arcapita is not a domestic bank licensed in the United States.
Arcapita is headquartered in Bahrain and is regulated under an
Islamic wholesale banking license issued by the Central Bank of
Bahrain.  The Arcapita Group employs 268 people and has
offices in Atlanta, London, Hong Kong and Singapore in addition to
its Bahrain headquarters.  The Arcapita Group's principal
activities include investing on its own account and providing
investment opportunities to third-party investors in conformity
with Islamic Shari'ah rules and principles.

The Arcapita Group had roughly US$7 billion in assets under
management.  On a consolidated basis, the Arcapita Group owns
assets valued at roughly US$3.06 billion and has liabilities of
roughly US$2.55 billion.  The Debtors owe US$96.7 million under two
secured facilities made available by Standard Chartered Bank.

Arcapita explored out-of-court restructuring scenarios but was
unable to achieve 100 percent lender consent required to effectuate
the terms of an out-of-court restructuring.

Subsequent to the Chapter 11 filing, Arcapita Investment Holdings
Limited, a wholly owned Debtor subsidiary of Arcapita in the Cayman
Islands, issued a summons seeking ancillary relief from the
Grand Court of the Cayman Islands with a view to facilitating the
Chapter 11 cases.  AIHL sought the appointment of Zolfo Cooper as
provisional liquidator.

As reported in the TCR on Jun 19, 2013, the Bankruptcy Court for
the Southern District of New York entered its Findings of Fact,
Conclusions of Law, and Order confirming the Second Amended Joint
Chapter 11 Plan of Reorganization of Arcapita Bank B.S.C.(c) and
Related Debtors with respect to each Debtor other than Falcon Gas
Storage Company, Inc.

A copy of the Confirmed Second Amended Joint Plan (With First
Technical Modifications) is available at:

          http://bankrupt.com/misc/arcapita.doc1265.pdf    

The effective date of the Debtors' Second Amended Joint Plan of
Reorganization, dated as of June 11, 2013, occurred on Sept. 17,
2013.


ATLS ACQUISITION: Creditors' Committee Wants to Sue Management
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the Official Committee of Unsecured Creditors
of ATLS Acquisition LLC has asked permission from the bankruptcy
court to file a lawsuit on the company's behalf against
management.

According to the report, following an investigation of potential
claims, the committee said there's a valid claim against members of
management to void their employment agreements as fraudulent
transfers.  The panel said the insiders approved their own
"generous" employment contracts with a "bit of sham window
dressing" to make them look arms' length and then, after the
Chapter 11 filing, reinstated their own salaries in full while
keeping pay cuts in place for everyone else, the report added.

A hearing on the Committee's request is scheduled for Jan. 29.

                      About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, serves as the
Debtor's counsel; Ernst & Young LLP to provide investment banking
advice; and Epiq Bankruptcy Solutions, LLC, as claims and noticing
agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.

                           *     *     *

ATLS Acquisition, LLC, et al., have filed with the U.S. Bankruptcy
Court for the District of Delaware a joint plan of reorganization
and an accompanying disclosure statement, which propose to fund a
liquidating trust with proceeds from the sale of the Debtors'
assets.  A full-text copy of the Disclosure Statement dated Aug.
15, 2014, is available at http://is.gd/aLMnQP

In November 2014, the Debtor received the green light from the
Bankruptcy Court for its $68.5 million sale to an investment group
led by private equity firm Palm Beach Capital.  The auction for the
assets boosted the purchase price by more than $20 million.


AUBURN GROUP: Files for Ch 11; Delray Beach May Buy Bank Loan
-------------------------------------------------------------
Marisa Gottesman at Sun Sentinel reports that the Auburn Group
filed for Chapter 11 bankruptcy protection on Jan. 7, 2015.

Sun Sentinel relates that Auburn Group owes Delray Beach a little
more than $4.1 million to repay a federal grant the city lent to
the developer to construct a 152-unit apartment complex called
Auburn Trace.  Based on several appraisals, the 18 acres the
community sits on is worth between $9.3 million and $10.7 million,
the report states, citing Auburn Group.

According to Sun Sentinel, Auburn Group also owes Iberiabank even
more money, with an outstanding loan totaling nearly $4.7 million.
The report adds that Iberiabank filed a foreclosure action on
Auburn Group on Oct. 8, 2014.

Sun Sentinel states that Delray Beach commissioners will consider
buying the loan from Iberiabank at a reduced rate of $4.2 million,
which means the city will be in control of about $8.5 million of
debt owed on that property, making it the largest creditor as
bankruptcy proceedings begin.

Auburn Group is the developer of an affordable 152-unit housing
complex called Auburn Trace at 625 Auburn Circle West in Florida.


AUTOMATED BUSINESS: Seeks to Extend Cash Collateral Use to June 30
------------------------------------------------------------------
Automated Business Power and Automated Business Power Holdings,
Inc., seek an extension of the use of PNC Bank's cash collateral
until June 30, 2015.  During the 12-month period that the original

cash collateral order has been in effect, the Debtors have complied
with all of its requirements.  There have been no adverse changes
that might cause the Court to determine that PNC Bank is
no longer adequately protected.  Indeed, there has been a
significant reduction in the amount owed to PNC Bank; the Debtor
has reduced its indebtedness to PNC Bank by more than $6.3 million,
plus interest.  Thus, the adequate protection afforded to PNC Bank
has, in reality, increased substantially since the Petition Date.

The terms of the proposed modified cash collateral order are:

a. The monthly payments due from the Debtors to PNC Bank will be
   reduced from $500,000/month to $250,000/month.  This reduction
   is necessary because the Debtors' cash flow will no longer
   allow them to reduce the indebtedness to PNC Bank by $6 Million

   per year.  While the Debtors have maintained sales at a $12M
   annual level, they have not been able to increase sales on
   certain government contracts as a result of being in a Chapter
   11 proceeding.

b. The Debtors shall pay the rent payable to First Power Group LLC

   for the leased premises at Rickenbacker Drive and Premiere
   Court in accordance with the terms of the Lease Agreements
   approved by the Court in its October 1, 2014 Order Approving
   Debtor's Amended Motion to Assume Building Leases.  In
   addition, in accordance with the Assumption Order, the Debtors
   shall pay to First Power Group, LLC the following: (1) all
   prepetition rent arrears in a one-time payment of $73,425.00;
   and (2) all post-petition rent arrears in 48 equal monthly
   installments of $6,122.45.

c. The Debtor will pay Chapter 11 professional fees of $30,000 per

   month.  Under the original Cash Collateral Order, this amount
   was $20,000 per month.  In order to attempt to reduce unpaid
   administrative expenses, the Debtors seek to increase this
   amount.

d. The Debtors will pay consulting fees of $87,500 per quarter to
   UQU Consulting, LLC.

e. If after payment of all expenses authorized by the Debtors'
   budget, the Debtors' cash exceeds $2 Million, the amount will
   be paid to PNC Bank to reduce principal.

f. The budget also provides for a payment of $21,964.57 to the
   ESOP in order for the ESOP to make a required retirement
   contribution to the surviving spouse of Oleg Belansky a former
   employee of the Debtor.  This payment is required under the
   terms of the ESOP.  The Debtor will also make its annual
   contribution to the ESOP which is immediately returned to the
   Debtor to reduce the ESOP's promissory note to the Debtor.
   While this latter transaction has no cash impact on the Debtor,

   PNC has previously refused to allow the Debtor to make the
   contribution.  Failure to make the contribution could result in

   the ESOP losing its tax exempt status.

The Debtors have legitimate reasons to request that the terms of
the original Cash Collateral Order be modified.  The original Cash

Collateral Order requires the Debtors to pay principal payments of

$500,000 per month, for an annual total of $6 Million.  The
Debtors' annual sales for 2014 were approximately $12 Million.
Going forward, the Debtors cannot pay one-half of the anticipated
2015 annual sales to PNC Bank.  The Debtors need to use a larger
portion of the receipts to make improvements, increase marketing
efforts and generally attempt to increase sales.  While the
Debtors anticipate that sales will increase once there is a
confirmed plan of reorganization in place, they cannot afford to
continue to make payments at the level ordered in the original
Cash Collateral Order.

It is imperative that the Debtors is permitted to assume the
Consulting Agreement, commence making Rent Payments and Consulting

Fee payments that become due after January 1, 2015.  As a result
of concessions made to the Debtors by Halevy entities, First Power

Group LLC and UQU General LLC, the Debtors have not made rent
payments nor have they paid consulting fees since August 2013 and
January 2013 respectively.  Onerous monthly payments to PNC Bank
must not preclude the Debtors from paying its reasonable and
necessary business expenses and properly conducting and expanding
its business.  As to Professional Fees, the Debtors anticipated
that they would see a substantial reduction in Professional Fees
once the Plan of Reorganization was confirmed.  Now, the plan
process must begin anew with an attendant increase in professional

fees.  PNC reneging on the mutually agreed upon Limited Guaranty
Agreement by attempting to change its material terms should not
delay the emergence of ABP from Chapter 11.  Finally, the proposed

cash collateral order provides that additional payments can be
made to PNC Bank, if circumstances permit.

                 PNC Bank has Limited Objection

PNC Bank filed a limited objection to the Debtor's motion to extend

use of cash collateral.

The Administrative Agent does not object to the use of cash
collateral by the Debtor through March 31, 2015, on the same terms

provided in the Final Cash Collateral Order, including the 500,000

monthly principal payments.  Certain items should be omitted from
the budget currently proposed by the Debtors, which will make the
$500,000 monthly payments readily achievable.  In addition, in
light of the increased importance of cash to the collateral base
of the Administrative Agent, the Administrative Agent requires
modest additional reporting, in the form of 13 week projections.

                 About Automated Business Power

Military supplier Automated Business Power, Inc., and Automated
Business Power Holding Co. filed their Chapter 11 petitions
(Bankr. D. Md. Case Nos. 13-27123 and 13-27125) on Oct. 8, 2013.

Automated Business Power has been engaged in the design and
production of advanced filed deployable uninterruptible power
supplies, AC-to-DC power supplier, DC-to-DC converters,
uninterruptible power systems, Power/Voice/Data cases, speakers,
speaker/voice systems and ancillary equipment tactical
transceivers, power amplifiers, SATCOM, and other communications
equipment.

The petitions were signed by Daniel Akman as president.  The
Debtors estimated assets of at least $50 million and liabilities
of at least $10 million.

The Debtor is represented by Nelson C. Cohen, Esq., at Zuckerman
Spaeder LLP, in Washington, D.C.  The Debtor tapped Dickinson
Wright and Michael R. Holzman as Special ESOP Plan Counsel.

PNC Bank is represented by James M. Smith, Esq., and Lisa Bittle
Tancredi, Esq., at Gebhardt & Smith LLP.


AVIS COPELIN: Foreclosure Sale to Great Western Valid, Judge Says
-----------------------------------------------------------------
Bankruptcy Judge Robert Kwan ruled that Avis Richelle Copelin did
not have an ownership interest in the real property located at 4629
Talofa Ave., Toluca Lake, CA 91602, APN 2420-020-011; and that
Great Western Capital, LLC, Amber Investments Group, Inc., and NARA
Investments Group, LLC were bona fide purchasers of the real
property at the foreclosure sale conducted on August 12, 2013, by
US Bank, the beneficiary of the first deed of trust executed by
Copelin.  A copy of Judge Kwan's January 14 Findings of Fact and
Conclusions of Law is available at http://is.gd/ljKqY9from
Leagle.com.

Attorney for Great Western et al. is:

     Carol G. Unruh, Esq.
     LAW OFFICES OF CAROL G. UNRUH
     3000 S Robertson Blvd, Suite 215
     Los Angeles, CA, 90034 -3158
     Tel: (323) 684-3200

Avis Copelin is a debtor in a Chapter 11 case, Case No. 13-32580
(Bankr. C.D. Cal.).


AVIS COPELIN: Great Western Action Did Not Violate Automatic Stay
-----------------------------------------------------------------
U.S. Bankruptcy Judge Robert Kwan ruled that Great Western Capital,
LLC, Amber Investments Group, Inc., and NARA Investments Group, LLC
could not have violated the automatic stay pursuant to 11 U.S.C.
Sec. 362(a) by not naming Avis Richelle Copelin, as a defendant in
Superior Court case number 13R07067 filed on Aug. 21, 2013.  Judge
Kwan said the real property located at 4629 Talofa Ave., Toluca
Lake, CA 91602, APN 2420-020-011, was never an asset of Copelin's
bankruptcy estate created by the filing of Copelin's bankruptcy
case, Case No. 2:13-bk-32580 RK, on September 10, 2013, because
Copelin had no interest in that property on that date.

Judge Kwan also held that Great Western et al. did not violate the
automatic stay on Sept. 13, 2013, when the summons and complaint in
Superior Court case number 13R07067 were served on defendants other
than Copelin, who was not served.

A copy of Judge Kwan's Jan. 14 Findings of Fact and Conclusions of
Law is available at http://is.gd/rY2Fcdfrom Leagle.com.


BAXANO SURGICAL: Panel Hires Morris Nichols as Co-counsel
---------------------------------------------------------
The Official Committee of Unsecured Creditors of Baxano Surgical,
Inc., seeks authorization from the U.S. Bankruptcy Court for the
District of Delaware to retain Morris, Nichols, Arsht & Tunnell LLP
as co-counsel to the Committee, nunc pro tunc to Nov. 24, 2014.

The Committee requires Morris Nichols to:

   (a) advise the Committee with respect to its rights, duties,
       and powers in this case;

   (b) assist and advise the Committee in its consultations with
       the Debtor relative to the administration of this case;

   (c) assist the Committee in analyzing the claims of the
       Debtor's creditors in negotiating with such creditors;

   (d) assist with the Committee's investigation of the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtor and of the operation of the Debtor's business;

   (e) assist the Committee in its analysis of, and negotiations
       with, the Debtor or its creditors concerning matters
       related to, among other things, the terms of a plan or
       plans of reorganization for the Debtor;

   (f) assist and advise the Committee with respect to its
       communications with the general creditor body regarding
       significant matters in this case;

   (g) assist and counsel the Committee with regard to its
       organization; the conduct of its business and meetings; the

       dissemination of information to its constituency; and such
       other matters as are reasonably deemed necessary to
       facilitate the administrative activities of the Committee;

   (h) attend the meetings of the Committee;

   (i) represent the Committee at all hearings and other
       proceedings;

   (j) review and analyze all applications, orders, statements of
       operations, and schedules filed with the Court and advise
       the Committee as to their propriety;

   (k) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives; and

   (l) perform such other legal services as may be required and
       are deemed to be in the interests of the Committee in
       accordance with the Committee's powers and duties as set
       forth in the Bankruptcy Code.

At the present time, Morris Nichols' current hourly rates range
between $260 per hour for the most junior associate to $895 per
hour for the most senior partner.  The following chart is
representation of Morris Nichols' current hourly rates for work of
this nature:

       Partners             $540-$895
       Associates           $260-$510
       Paraprofessionals    $230-$290
       Case Clerks          $145

Morris Nichols will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

The Court for the District of Delaware will hold a hearing on the
application on Jan. 27, 2015, at 11:00 a.m.  Objections were due
Jan. 12, 2015.

Morris Nichols can be reached at:

       Robert J. Dehney, Esq.
       MORRIS, NICHOLS, ARSHT & TUNNELL LLP
       1201 North Market Street
       P.O. Box 1347
       Wilmington, DE 19899-1347
       Tel: (302) 658-9200
       Fax: (302) 658-3989

                       About Baxano Surgical

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

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

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

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

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


BERNARD L. MADOFF: Customers Appeal Over Claims for Profits
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that several creditors appealed from a Dec. 5
opinion of U.S. Bankruptcy Judge Stuart M. Bernstein who ruled that
"fictitious" profits must be ignored when money in one account was
transferred to another.

According to Bloomberg, Judge Bernstein's decision seemed
self-evident because the U.S. Court of Appeals said in a landmark
opinion in August 2011 that apparent profits concocted by Bernard
Madoff must be ignored when deciding how much an individual
customer can claim.  Because Judge Bernstein only laid down
guidelines and didn't pass on the amount of any particular claim,
it's possible that his ruling last month is not automatically
appealable, the report said.

                     About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers of BLMIS are in need of the protection afforded by the
Securities Investor Protection Act of 1970.  The District Court's
Protective Order (i) appointed Irving H. Picard, Esq., as trustee
for the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP
as his counsel, and (iii) removed the SIPA Liquidation proceeding
to the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland, J.).  Mr. Picard has retained AlixPartners LLP as claims
agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The petitioning creditors -- Blumenthal &
Associates Florida General Partnership, Martin Rappaport
Charitable Remainder Unitrust, Martin Rappaport, Marc Cherno, and
Steven Morganstern -- assert US$64 million in claims against Mr.
Madoff based on the balances contained in the last statements they
got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.).

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has commenced distributions to victims. The fifth pro
rata interim distribution slated for Jan. 15, 2015, will total $322
million and will bring the amount distributed to eligible claimants
to approximately $7.2 billion, which includes more than $822.5
million in advances committed to the SIPA Trustee for distribution
to allowed claimants by the SIPC.

As of Nov. 30, 2014, the SIPA Trustee has recovered or reached
agreements to recover approximately $10.5 billion since his
appointment in December 2008.


BEST PAYPHONES: Rift With New York City Remains Open
----------------------------------------------------
Bankruptcy Judge Stuart M. Bernstein left open the possibility that
the New York City Department of Information Technology and
Telecommunications may recover on its claims against Best
Payphones, Inc. and its sole shareholder Michael Chaite.

Judge Bernstein noted that Best was a solvent estate, and Chaite
retained his 100% equity interest under the Debtor's Third Amended
Plan of Reorganization Jointly Proposed by Best Payphones, Inc.,
Debtor and Debtor-in-Possession, and Michael Chaite, dated October
8, 2002.  The Court confirmed the Plan on Dec. 26, 2002.

According to Judge Bernstein, even if the Administrative Claim was
actually a late prepetition claim, it might still have to be paid
in full, with interest, before Chaite could receive or retain any
property under the Plan.

"The Court does not decide this difficult issue now but highlights
it for further consideration and appropriate briefing," Judge
Bernstein said.

For the past 12 years, the City and Best have been litigating with
each other regarding issues that affect the allowance of the City's
claims before the New York City Environmental Control Board, the
New York courts and several federal courts. Some of these
litigations were resolved long ago while others remain alive.

Last spring, Chaite and Best filed yet another set of objections to
the City's administrative claim. The City vehemently opposed the
objections and cross-moved for an order directing the entry of a
final decree in this 13-year old case.

In a Jan. 14 Memorandum Decision and Order available at
http://is.gd/4AqfT8from Leagle.com, Judge Bernstein said the
Bankruptcy Court has jurisdiction to decide the objections and
there is no bar to asserting them.  They cannot, however, be
decided on the state of the current record and require further
briefing and proceedings.  And because this case must remain open
to resolve the objections, the cross-motion is denied without
prejudice.

The Bankruptcy Court expressed concerned that it may face new
claims objections filed years from now.  Accordingly, Judge
Bernstein said he will impose a deadline on any further objections,
should they exist, to effectuate the disposition of all
bankruptcy-related objections in Bankruptcy Court with a view
toward entering a final decree as soon as possible.

                       About Best Payphones

Best Payphones, Inc., commenced its chapter 11 case (Bankr.
S.D.N.Y. Case No. 01-15472) on Oct. 23, 2001.  On December 26,
2002, the Bankruptcy Court confirmed the Third Amended Plan of
Reorganization Jointly Proposed by Best Payphones, Inc., and
Michael Chaite, dated Oct. 8, 2002.

The Plan left all classes unimpaired, called for the payment of
administrative claims on the effective date and provided that
allowed unsecured claims would be paid in full on the effective
date together with postpetition interest computed at the annual
rate of 9%. Finally, Chaite would retain his 100% equity interest
in Best.

Following confirmation, Best sold all of its assets to Universal
Telecommunications, Inc., for $1.015 million.



BRAVO CEMENT: Ontario Court Set March 9 as Claims Bar Date
----------------------------------------------------------
The Ontario Superior Court of Justice set March 9, 2015, at 5:00
p.m. (Eastern Standard Time) as deadline for creditors to file
claims against Bravo Cement Contracting (Toronto) Inc.  Claimants
requiring confirmation or claim documentation including the claim
notice may contact:

   BDO Canada Limited
   Receiver of Bravo Cement Contracting (Toronto) Inc.
   1 City Centre Drive, Suite 1040
   Mississauga, Ontario, L5B 1M2
   Attn: Uwe Manski
   Tel: 416-369-3072
   Fax: 905-615-1333
   Email: umanski@bdo.ca
  
   - or -

   Peter Naumis
   Tel: 905-615-6207
   Fax: 905-615-1333
   Email: pnaumis@bdo.ca


BUDD COMPANY: Hires ARPC as Asbestos Liabilities Consultant
-----------------------------------------------------------
The Budd Company, Inc. seeks authorization from the Hon. Jack B.
Schmetterer of the U.S. Bankruptcy Court for the Northern District
of Illinois to employ Analysis Resource Planning Corporation --
ARPC --  as asbestos liabilities consultant, nunc pro tunc to Dec.
15, 2014.

The services of ARPC will be critical to Proskauer Rose LLP's
ability to represent the Debtor in this chapter 11 case by
assisting in determining the Debtor's asbestos related liabilities.
Under the terms of the Engagement Letter, ARPC will take direction
from Proskauer, and thus certain communications and work product
may be subject to attorney/client privilege.  ARPC will provide
services under and in accordance with the Engagement Letter, which
services may include:

   (a) reviewing the Debtor's historical, current, and/or future
       liabilities arising from or related to asbestos-related
       claims; and

   (b) preparing an expert report and providing related
       evidentiary and testimonial support.

ARPC will be paid at these hourly rates:

       Thomas Vasquez           $650
       Nick Galunic             $430
       Brian Schwartz           $320
       John Golightly           $250
       Partner/Principal        $550-$700
       Managing Director        $350-$500
       Director                 $275-$350
       Senior Consultant        $200-$275
       Consultant               $150-$200
       Analyst                  $95-$125

As set forth in the Engagement Agreement, ARPC estimates that it
will complete its expert report in six weeks after receipt of
documents at a cost of no more than $150,000.  If prior to
completion of the report ARPC believes that these estimates will be
exceeded, ARPC will inform Proskauer.

ARPC will also be reimbursed for reasonable out-of-pocket expenses
incurred.

Thomas Vasquez, vice president of ARPC, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

ARPC can be reached at:

       Thomas Vasquez
       ANALYSIS RESOURCE PLANNING CORPORATION
       1220 19th Street, NW, Suite 700
       Washington, D.C. 20036
       Tel: (202) 797-1111
       E-mail: t.vasquez@arpc.com

                       About The Budd Company

The Budd Company, Inc., a former supplier to the automotive
industry, filed for chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-11873) on March 31, 2014, with a deal to settle
potential claims against its parent, ThyssenKrupp AG.

The company -- which ceased manufacturing operations in 2006 and
does not have any current employees, facilities or customers --
has obligations consisting largely of medical and other benefits
to approximately 10,000 former employees.

Liabilities amount to approximately $1 billion with assets of
approximately $400 million.  Most of the debt consists largely of
medical and other benefits to approximately 10,000 former
employees.

The Debtor disclosed $387,555,681 in assets and $1,107,350,034 in
liabilities as of the Chapter 11 filing.

The Hon. Jack B. Schmetterer oversees the case.  The Debtor has
tapped Proskauer Rose LLP as Chapter 11 counsel, Dickinson Wright
PLLC as special counsel, Epiq Bankruptcy Solutions, LLC as
noticing, claims and balloting agent, and Conway MacKenzie
Management Services, LLC's Charles M. Moore as CRO.

The U.S. Trustee appointed five individuals to serve on the
Committee of Executive & Administrative Retirees.  The Segal
Company (Eastern States), Inc. serves as the Committee's actuarial
consultant.  The Committee retained Solic Capital Advisors, LLC as
its financial advisor.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
represents the ad hoc committee of asbestos personal injury
claimants.


CAESARS ENTERTAINMENT: Clark County Not An Unsecured Creditor
-------------------------------------------------------------
The Associated Press reports that a Clark County spokesperson said
the county is working with the attorneys of Caesars Entertainment
Operating Co., et al., to correct a mistake that listed the agency
as an unsecured creditor, even though its debt is secured.

A court filing by the Debtors reveals that Gordon Ramsay and Nobu,
restaurant and hotel co-founded by actor Robert De Niro and chef
Nobu Matsuhisa are among the top 50 creditors with unsecured debt.
Mr. Ramsay is owed $307,479, while Nobu is owed $459,964.

The AP mentions that other unsecured creditors include: (a) Clark
County, owed $46.9 million for a bond issued in 2008 to move power
lines underground on Caesars' land on Flamingo Road; (b) basketball
team Charlotte Hornets whose chairperson is Michael Jordan, is owed
$393,750; and (c) slot machine makers: (i) International Game
Technology, owed $28.5 million; (ii) Bally Gaming, owed $757,241;
and (iv) Aristocrat Technologies, owed $521,932.

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.
Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  CEOC disclosed total assets of
$12.3 billion and total debts of $19.8 billion as of Sept. 30,
2014.  The petitions were signed by Mary E. Higgins as authorized
individual.  Judge Benjamin Goldgar presides over the cases.


CAESARS ENTERTAINMENT: Court Stays Illinois Bankruptcy Filing
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, at the
behest of Appaloosa Investment LP and funds affiliated with Oaktree
Capital and Tennenbaum Capital, issued on Jan. 15, 2015, an order
staying Caesars Entertainment Operating Company, Inc.'s Illinois
bankruptcy filing while the Delaware Bankruptcy Court determines
the proper venue in which the Caesars action will proceed, Carl
Neff at Delware Bankruptcy Litigation reports.

Appaloosa Investment, et al., filed an involuntary Chapter 11
bankruptcy petition against the Company on Jan. 12, 2015, with the
U.S. Bankruptcy Court for the District of Delaware.  Three days,
later, the Company filed for bankruptcy in the Northern District of
Illinois.

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.
Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  CEOC disclosed total assets of
$12.3 billion and total debts of $19.8 billion as of Sept. 30,
2014.  The petitions were signed by Mary E. Higgins as authorized
individual.  Judge Benjamin Goldgar presides over the cases.


CAESARS ENTERTAINMENT: Del. Court to Hear Venue Issue on Jan. 26
----------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware will convene a hearing on Jan. 26 and 27, 2015, on the
question of venue in Caesars Entertainment Operating Company,
Inc.'s bankruptcy case.

To recall, Appaloosa Investment Limited Partnership I, OCM
Opportunities Fund VI, L.P. and Special Value Expansion Fund, LLC,
holders of 10% Second-Priority Senior Secured Notes due 2018,
issued by CEOC, filed involuntary Chapter 11 proceeding against the
company on Jan. 12, in the Delaware Bankruptcy Court.  On Jan. 15,
CEOC and nearly 180 of its affiliates sought voluntary protection
under Chapter 11 in the U.S. Bankruptcy Court for the Northern
District of Illinois (Chicago).

Appaloosa, et al., asked the Delaware Court to stay any
later-filed, parallel Chapter 11 cases that was commenced by CEOC
and asked the Delaware Court to determine that the proper venue for
CEOC's bankruptcy case is Delaware.  Appaloosa, et al., argued that
the Northern District of Illinois is not a proper venue for a CEOC
bankruptcy case since CEOC is not an Illinois entity (it is
incorporated in Delaware) and is neither the principal place of its
business in the United States nor where its principal assets are
located.

U.S. Bankruptcy Judge Kevin Gross in Delaware, in an order dated
Jan. 15, stayed all proceedings in the Chapter 11 case of CEOC in
Illinois pending the Delaware Court's issuance of an order
determining the venue in which CEOC's Chapter 11 case will proceed,
except that Judge Gross allowed CEOC to proceed to be heard in its
Illinois bankruptcy case on matters identified in its agenda for
first day hearing filed in the Illinois case.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that bankruptcy rules empower Judge Gross, the judge
with the first-filed case, to decide what happens, if anything, in
Chicago, home to the later-filed petition.

According to the Bloomberg report, Judge Gross, by allowing the
CEOC case to proceed at least in part in Chicago, may be showing an
inclination to follow the precept that the bankrupt company's
choice of court should be given "great weight."  On the other hand,
the rules may present Caesars with more of an uphill fight because
the casinos have the burden of proving to Judge Gross that the
bankruptcy belongs in Chicago "for the interest of justice or the
convenience of the parties," the Bloomberg report noted.

Meanwhile, Appaloosa, et al., joined in by Wilmington Savings Fund
Society, FSB, as successor indenture trustee for the 10%
second-priority senior secured notes due 2018, filed with the
Delaware court a motion for appointment of an examiner with access
to and authority to disclosure privileged materials.

In connection with the examiner appointment motion and venue
question, Appaloosa, et al., notified the Delaware court that they
will take the deposition upon oral examination of several persons
with knowledge of the case, including Randall S. Eisenberg, the
chief restructuring officer of CEOC.  An ad hoc group of certain
holders of 10.75% Senior Unsecured Notes due 2016 issued by CEOC
also notified the Delaware court that they intend to take
depositions on the venue question.

Although acknowledging that the ongoing existence of parallel
proceedings in different venues exposes CEOC and its estates to
uncertainty and inherent harm, its lawyers, in a letter sent to
Judge Gross, said the company will not object to non-petitioning
creditors' standing on the question of venue that is before Judge
Gross provided that non-petitioning creditors intending to
particiate in the proceeding be required to file their disclosure
under Rule 2019 of the Federal Rules of Bankruptcy Procedure on or
before Jan. 22.

Wilmington is represented by:

         Robert S. Brady, Esq.
         Edmon L. Morton, Esq.
         Robert F. Poppiti, Jr., Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253
         E-mail: rbrady@ycst.com
                 emorton@ycst.com
                 rpoppiti@ycst.com

               - and -

         Bruce S. Bennett, Esq.
         James O. Johnston, Esq.
         Sidney P. Levinson, Esq.
         Joshua Mester, Esq.
         Monika S. Wiener, Esq.
         JONES DAY
         555 South Flower Street
         Fiftieth Floor
         Los Angeles, CA 90071
         Tel: (213) 489-3939
         Fax: (213) 243-2539
         E-mail: bbennett@jonesday.com
                 jjohnston@jonesday.com
                 slevinson@jonesday.com
                 jmester@jonesday.com
                 mwiener@jonesday.com

               - and -

         James S. Carr, Esq.
         Eric R. Wilson, Esq.
         Kristin S. Elliott, Esq.
         KELLEY DRYE & WARREN LLP
         101 Park Avenue
         New York, NY 10178
         Tel: (212) 808-7800
         Fax: (212) 808-7897
         E-mail: jcarr@kelleydrye.com
                 ewilson@kelleydrye.com
                 kelliott@kelleydrye.com

The Ad Hoc Group is represented by:

         J. Christopher Shore, Esq.
         WHITE & CASE LLP
         1155 Avenue of the Americas
         New York, NY 10036-2787
         Tel: (212) 819-8200
         Fax: (212) 354-8113
         E-mail: cshore@whitecase.com

               - and -

         Thomas E. Lauria, Esq.
         WHITE & CASE LLP
         Southeast Financial Center, Suite 4900
         200 South Biscayne Blvd.
         Miami, FL 33131
         Tel: (305) 371-2700
         Fax: (305) 358-5744
         E-mail: tlauria@whitecase.com

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.
Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  CEOC disclosed total assets of
$12.3 billion and total debts of $19.8 billion as of Sept. 30,
2014.  The petitions were signed by Mary E. Higgins as authorized
individual.  Judge Benjamin Goldgar presides over the cases.


CAESARS ENTERTAINMENT: Federal Judge Criticizes Restructuring
-------------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
U.S. District Judge Shira Scheindlin has ruled that Caesars
Entertainment Corp. may have violated federal law when it shuffled
its casino assets.

According to the report, Judge Scheindlin said Caesars's deal with
bondholders to cut off guarantees of the debts of its biggest
subsidiary was an "impermissible out-of-court debt restructuring"
that stripped assets from the unit while leaving bondholders "with
an empty right to assert a payment default from an insolvent
issuer."

The decision came in lawsuits involving about $500 million in
bonds, filed by investors that claim their holdings were damaged by
the loss of the parent guarantees and accusing Caesars of financial
engineering designed to protect owners Apollo Global Management LLC
and TPG Capital, the buyout shops that together own a controlling
stake in the casino owner.

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming
empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.  CEOC
disclosed total assets of $12.3 billion and total debts of $19.8
billion as of Sept. 30, 2014.  

Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.


CAESARS ENTERTAINMENT: Memorandum in Support of Ch. 11 Petitions
----------------------------------------------------------------
Caesars Entertainment Operating Company, Inc., and other operating
units of the 50-casino Caesars gaming enterprise have sought
bankruptcy protection in order to emerge as viable going concerns
that can successfully compete in the gaming industry with
appropriately-sized balance sheets.

In the past several years, as economic conditions squeezed the
gaming industry, the Debtors have attempted to extend their debt
maturities and de-leverage their balance sheets through various
asset sales and capital markets transactions.  By mid-2014,
however, it became clear that a wholesale restructuring was
required.  

Now, after more than six months of intense, arm's-length
negotiations among the Debtors, their Caesars affiliates, and
certain of their creditors, the parties have agreed on a
comprehensive restructuring that substantially reduces the Debtors'
debt, reorganizes their business into a REIT structure to maximize
value and creditor recoveries, and secures significant financial
and other support from the Debtors' non-debtor affiliates that is
critical to a successful restructuring.  This compromise is set
forth in a Restructuring Support Agreement (the "RSA").

                   Prepetition Capital Structure

As of the Petition Date, the Debtors have outstanding funded debt
obligations of $18.4 billion, comprising:

   * four tranches of first lien bank debt totaling $5.35 billion;

   * three series of outstanding first lien notes totaling $6.35
billion;

   * three series of outstanding second lien notes totaling $5.24
billion;

   * one series of subsidiary-guaranteed unsecured debt of $479
million; and

   * two series of senior unsecured notes totaling $530 million.

The Debtors' capital structure is a legacy of one of the largest
leveraged buyouts in history.  On Jan. 28, 2008, affiliates of
Apollo and TPG, along with certain co-investors, acquired Caesars,
then known as Harrah's Entertainment, for $30.7 billion (the "2008
LBO").  Apollo, TPG and other investors contributed $6.1 billion in
cash to fund the 2008 LBO.  The remainder was funded through the
issuance of $24 billion in debt, $19.7 billion of which was secured
by liens on substantially all of the Debtors' assets and, in most
cases, subject to intercreditor agreements.

The Debtors have positive cash flow before debt service, but a
number of economic factors and industry trends unforeseen at the
time of the 2008 LBO have left the Debtors unable to support their
over-leveraged capital structure and extraordinary interest
expense.  The 2008 LBO was agreed to in December 2006, when both
the economy and the casino industry were robust, and was
consummated at the very beginning of the 2008 recession.  In the
ensuing months and years, casinos worldwide struggled as consumer
and business spending on travel and entertainment sharply declined.
As the economy rebounded, the Debtors faced new challenges.

While consumers have increased discretionary spending on travel and
entertainment, the gaming industry is capturing a smaller share of
that spending.  Meanwhile, gaming has become increasingly
competitive as new casinos have entered the market.  As a result,
CEOC's total same store revenues have steadily declined since the
2008 LBO.

Over the past several years, Caesars has undertaken numerous
initiatives to restructure the Debtors' operations and manage their
debt maturities and interest expense without subjecting CEOC to a
formal bankruptcy proceeding.  In addition to certain operational
initiatives and property closures, Caesars has engaged in over 45
capital market transactions, including a number of asset sales,
exchange and tender offers, debt repurchases and re-financings, in
an effort to extend debt maturities, meet interest obligations,
monetize assets and transfer debt and capital expenditure
obligations at properties CEOC could not afford to invest in.

                      Restructuring Framework

Extensive, hard-fought, parallel negotiations ultimately led to the
development of a restructuring framework for a chapter 11 plan with
these key features:

    * Reducing the Debtors' total debt obligations by $10 billion
and their annual interest expense from $1.7 billion to $450
million;

    * Reorganizing the Debtors' business as a tax-efficient real
estate investment trust ("REIT") by, among other things,
transferring substantially all of the Debtors' real properties to a
property company ("PropCo") which would in turn lease those
properties to an operating company ("OpCo") to maximize recoveries
to creditors;

    * Securing significant, near term contributions from CEC,
including:

      -- cash contributions of up to $406 million plus an
additional $75 million in cash if required to exit;

      -- backstopping, with no associated fees, up to $969 million
of equity put options to support the REIT structure and provide
cash out opportunities to CEOC's creditors receiving equity in
PropCo and OpCo under the proposed chapter 11 plan;

      -- offering the Debtors certain rights of first refusal for
owning and managing all future non-Las Vegas domestic acquisitions;
and

      -- importantly, providing a guarantee of OpCo's operating
lease obligations, which underpins the value of PropCo and its
ability to service the debt it will carry;

    * Providing significant creditor recoveries of:

      -- 100% to the First Lien Lenders;

      -- 92% to the First Lien Noteholders; and

      -- A baseline recovery to non-First Lien Creditors of 17.5%
of PropCo equity, valued at approximately $319 million, with the
opportunity, if the class votes in favor of the Plan, to receive
30.1% of PropCo equity, valued at approximately $549 million plus
equity buy in rights for up to an additional 65% of PropCo equity
at plan value; and

    * Settling complicated litigation claims related to historical
transactions that could mire the estate in protracted and costly
proceedings for years, delaying creditor recoveries.

The parties documented their agreement to this framework in the
Restructuring Support and Forbearance Agreement, originally dated
as of Dec. 19, 2014, and related Plan Term Sheet.

The RSA was initially supported by approximately 38 percent of the
First Lien Noteholders.  Since its execution, the RSA has obtained
additional support, and the RSA is now endorsed by holders of over
80 percent in aggregate principal amount of the Debtors' first lien
bonds and approximately 15 percent of first lien bank debt.

The Debtors believe that the restructuring contemplated by the RSA
is in the best interests of their estates and the most advantageous
solution for the Debtors' 32,000 employees, millions of customers,
and all stakeholders.  Importantly, the RSA contains an express and
unlimited "fiduciary out" permitting the Debtors to pursue a better
alternative transaction if one arises.  Any such alternative
framework would need to address the many complexities of these
cases, including: the need to preserve stable operations in all
geographic locations of the Debtors' heavily regulated industry,
the significant tax and business implications associated with any
attempt to separate the Debtors from the broader Caesars
enterprise; certain creditors' demands for substantial continuing
financial and operational investment by CEC to support the
reorganized companies; and the complicated pending and potential
litigation claims related to historical transactions.

A copy of the memorandum in support of the Chapter 11 petitions is
available for free at:

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

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming
empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.  CEOC
disclosed total assets of $12.3 billion and total debts of $19.8
billion as of Sept. 30, 2014.  

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.


CAESARS ENTERTAINMENT: Proposes to Pay $16MM to Critical Vendors
----------------------------------------------------------------
Caesars Entertainment Operating Company, Inc., and its affiliated
debtors ask the Bankruptcy Court for authority, but not direction,
to pay the prepetition claims of certain vendors and service
providers that provide essential goods and services critical to the
operation of their businesses in an interim amount not to exceed
$10.7 million, and an aggregate amount not to exceed $16.3
million.

David R. Seligman, P.C., at Kirkland & Ellis LLP, says the critical
vendors are integral to the Debtors' multi-faceted supply chain
that services the Debtors' casino properties throughout the United
States and globally to ensure uninterrupted customer service.  The
Debtors' businesses are dependent on customer satisfaction.  Their
ability to retain and grow that customer base depends, in part, on
leveraging key third-party suppliers, vendors, and service
providers.

The Debtors have been mindful of the need to seek relief only for
truly critical vendors.  Indeed, the critical vendor claims
represent approximately 13% of the Debtors' accrued trade payables
of $125 million.

The Debtors began the process of selecting critical vendors by
identifying 13,000 vendors that had received a payment from the
Debtors in fiscal year 2014.  Of these vendors, the Debtors
identified 2,000 vendors that comprised 99% of the Debtors' total
vendors spend for the same period.  After considering a variety of
factors, the Debtors identified a select group of vendors
representing 2% of the Debtors' top 2,000 vendor pool as critical
vendor candidates.

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming
empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.  CEOC
disclosed total assets of $12.3 billion and total debts of $19.8
billion as of Sept. 30, 2014.  

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.


CAESARS ENTERTAINMENT: Seeks Approval of First-Day Motions
----------------------------------------------------------
Caesars Entertainment Operating Company, Inc., and other operating
units of the 50-casino Caesars gaming enterprise have filed a
number of first day pleadings seeking targeted relief intended to
allow the Debtors to minimize the adverse effects of the
commencement of the Chapter 11 cases on their ongoing business
operations.

The Debtors have filed motions to:

   -- direct joint administration of their Chapter 11 cases;

   -- pay prepetition wages, salaries, and other compensation,
reimbursable employee expenses, and obligations relating to medical
and other benefits programs.  The Debtors have 32,000 employees, of
whom 24,000 work full time.

   -- continue using their cash management system.

   -- pay prepetition claims of certain lien claimants.  The
Debtors estimate that $160,000 on account of claims held by
shippers and/or warehousemen have accrued as of the Petition Date,
$110,000 of which will become due and owing within the first 21
days of the Chapter 11 cases.  The Debtors estimate that $30
million on account of 11 U.S.C. Sec. 503(b)(9) claims have accrued
as of the Petition Date, $20.7 million of which will become due and
owing within the first 21 days.  As of the Petition
Date, the Debtor owe only a de minimis amount to foreign vendors.

   -- pay claims arising under the Perishable Agricultural
Commodities Act (PACA).  The Debtors estimate they owe PACA vendors
$400,000 in the aggregate for goods covered under PACA delivered
prior to the Petition Date.

   -- pay prepetition claims of certain vendors.  As of the
Petition Date, the Debtors believe they owe critical vendors $16.3
million.  The Debtors are seeking relief to pay up to $10.7 million
in critical vendor claims during the first 21 days of the chapter
11 cases.

   -- maintain their existing customer programs.  As of the
Petition Date, the Debtors estimate $74 million in customer loyalty
program obligations remains outstanding, substantially all of which
relate to the total rewards program.

   -- pay certain taxes and fees.  As of the Petition Date, the
Debtors believe they are current with respect to their payment of
sales and use taxes and that no sales and use taxes will come due
within the first 21 days of these chapter 11 cases.  The Debtors
seek to continue to pay sales and use taxes on a postpetition basis
in the ordinary course of business.

   -- continue their prepetition insurance coverage;

   -- continue their surety bond program.  As of the Petition Date,
the Debtors have approximately $31.1 million in outstanding surety
bonds.

   -- extend by 47 days the deadline to file schedules of assets
and debts, current income and expenditures, and executory contracts
and unexpired leases and statements of financial affairs.

A copy of the affidavit in support of the first day motions is
available for free at:

      http://bankrupt.com/misc/Caesars_1st_Day_Affidavit.pdf

                    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.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  CEOC operates hotel and casino
properties that are part of the "Caesars" resort and gaming
empire.
The bondholders are represented by Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
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.

CEOC and 172 other affiliates filed Chapter 11 bankruptcy petitions
(Bank. N.D. Ill.  Lead Case No. 15-01145) on Jan. 15, 2015.  CEOC
disclosed total assets of $12.3 billion and total debts of $19.8
billion as of Sept. 30, 2014.  

Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.


CASH STORE: Enters Into Purchase Agreement with easyhome
--------------------------------------------------------
The Cash Store Financial Services Inc. on Jan. 19 disclosed that it
has entered into a binding Asset Purchase Agreement to sell the
lease rights and obligations for up to 47 of its locations and
certain associated assets to easyhome Ltd.  easyhome submitted its
proposal in accordance with Cash Store Financial's Court-approved
Secondary Sale Process under the Companies' Creditors Arrangement
Act.

Cash Store Financial's Chief Restructuring Officer and Rothschild
Inc., the Company's financial advisor, in consultation with the
CCAA Court-appointed Monitor, FTI Consulting Canada Inc., have
determined that the bid submitted by easyhome was the most
favourable bid received for these locations, and was therefore
selected pursuant to the terms of the Secondary Sale Process.  The
Agreement and completion of the Transaction remain subject to Court
approval in Canada and the satisfaction of certain closing
conditions customary to transactions of this nature.

The current expectation is that the Transaction will be completed
within the first quarter of 2015, following court and regulatory
approval.  Cash Store Financial will provide further updates on the
process in due course as the necessary approvals are obtained and
the Transaction is finalized.  The Transaction is in addition to
the transaction with National Money Mart Company previously
announced by Cash Store Financial on Oct. 9, 2014.

Further details regarding the Agreement, 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
The Company will continue to provide updates on its restructuring
and the Transaction as matters advance.

                   About Cash Store Financial

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

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

Cash Store Financial reported a net loss and comprehensive loss of
C$35.5 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 liabilities, and a
C$1.32 million shareholders' deficit.


CENTRAL OKLAHOMA: Burian Named Substitute PCO
---------------------------------------------
U.S. Trustee Samuel K. Crocker, pursuant to a Dec. 16, 2014 order,
named a new patient care ombudsman in the Chapter 11 case of
Central Oklahoma United Methodist Retirement Facility, Inc.:

         Deborah Burian
         2125 NW 28th Street
         Oklahoma City, OK 73107
         Tel: 405) 623-0778
         E-mail: Deborah.Burian@gmail.com

Bankruptcy Judge Niles Jackson granted the agreed motion of the
Debtor and the U.S. Trustee to appoint a substitute PCO.

The parties said that the current PCO must resign and a substitute
PCO is necessary.  The current PCO has accepted new employment
beginning Jan. 1, 2015, which will not allow her to continue in her
capacity as PCO.  The current PCO has recommended Ms. Burian as the
substitute PCO.  The U.S. Trustee also recommends Ms. Burian and
the debtor agrees with her appointment as the substitute PCO.

The Court ordered that upon appointment, the Debtor will remit to
the PCO a $7,000 initial retainer.  That evergreen retainer will be
replenished to the $7,000 level within 14 after compensation and
reimbursement of expenses are awarded to the PCO by the Court.

              About Central Oklahoma United Methodist

Central Oklahoma United Methodist Retirement Facility, Inc., dba
Epworth Villa, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Okla. Case No. 14-12995) on July 18,
2014.  The case is before Judge Sarah A. Hall.

The Debtor's counsel is Brandon Craig Bickle, Esq., Sidney K.
Swinson, Esq., and Mark D.G. Sanders, Esq., at Gable & Gotwals,
P.C., in Tulsa, Oklahoma; and G. Blaine Schwabe, III, Esq., at
Gable & Gotwals, P.C., in Oklahoma City, Oklahoma.

The Debtor reported $118 million in total assets, and $108 million
in total liabilities.


CHRYSLER LLC: 6th Cir. Rules on Dispute With Auto Dealers
---------------------------------------------------------
The United States Court of Appeals, Sixth Circuit, ruled on various
appeals by car dealers whose dealership agreements where rejected
as part of Chrysler LLC's chapter 11 bankruptcy and eventual sale
to New Chrysler, a venture which was owned predominantly by a
voluntary employees' beneficiary association and partially by Fiat
and various entities of the federal government, with Fiat
maintaining the possibility of acquiring a majority ownership in
the future.  A number of these dealers sought arbitration with New
Chrysler to seek continuation or reinstatement of franchise
agreements.  Among other things, the parties dispute the scope of
relief provided for successful dealers under Section 747 of the
Consolidated Appropriations Act of 2010, which Congress created in
2010 to provide for those arbitration procedures; and whether the
dealers are subject to state dealer protest laws that permit
existing dealerships to protest the addition of a new dealer.

The Sixth Circuit held that the district court correctly held that
Sec. 747 does not constitute an unconstitutional legislative
reversal of a federal court judgment, and that the only relief
provided to successful dealers under Sec. 747 is the issuance of a
"customary and usual" letter of intent. The district court also
properly found that the letters of intent at issue in this case
were "customary and usual," with the exception of one contractual
provision that requires reversal. Contrary to the district court's
conclusion, however, application of the state dealer acts of the
two states in question (Michigan and Nevada) is preempted by Sec.
747, because the state acts provide for redetermination of factors
directly addressed in federally-mandated arbitrations closely
related to a major federal government bailout, the Sixth Circuit
added.

The appellate cases are, CHRYSLER GROUP LLC, Plaintiff-Appellee,
UNITED STATES OF AMERICA, Intervenor-Appellee, v. FOX HILLS MOTOR
SALES, INC.; VILLAGE CHRYSLER JEEP INCORPORATED; JIM MARSH AMERICAN
CORPORATION, Defendants-Appellants. LIVONIA CHRYSLER JEEP, INC.,
Plaintiff-Appellant, v. CHRYSLER GROUP, LLC, et al.,
Defendants-Appellees, UNITED STATES OF AMERICA,
Intervenor-Appellee. CHRYSLER GROUP LLC, Plaintiff-Appellee, UNITED
STATES OF AMERICA, Intervenor-Appellee, v. SOWELL AUTOMOTIVE,
INCORPORATED, et al., Defendants, SPITZER AUTOWORLD AKRON, LLC,
Defendant-Appellee, FRED MARTIN M COTOR OMPANY,
Defendant-Appellant, Nos. 13-2117, 13-2118, 13-2119 (6th Cir.).

A copy of the Sixth Circuit's Jan. 16, 2015 Opinion is available at
http://is.gd/RTGmAwfrom Leagle.com.

Michael F. Smith, THE SMITH APPELLATE LAW FIRM, Washington, D.C.,
for Appellants in 13-2117.  He may be reached at:

     Michael F. Smith, Esq.
     THE SMITH APPELLATE LAW FIRM
     1717 Pennsylvania Avenue NW, Suite 1025
     Washington, D.C.  20006
     Tel: (202) 454-2860
     Fax: (202) 747-5630
     Mobile: (202) 669-0249
     E-mail: smith@smithpllc.com

Robert Charles Davis, DAVIS LISTMAN BRENNAN, Mt. Clemens, Michigan,
for Appellant in 13-2118.  He may be reached at:

     Robert Charles Davis, Esq.
     DAVIS LISTMAN BRENNAN
     Towne Square Building
     10 S. Main Street, Suite 401
     Mt. Clemens, MI 48043
     Tel: (586) 469-4300
     Fax: (586) 469-4303
     E-mail: rdavis@dbsattorneys.com

Jay F. McKirahan, formerly of COOPER & ELLIOTT, LLC, Columbus,
Ohio, for Appellant in 13-2119.  He may now be reached at:

     Jay F. McKirahan, Esq.
     MACMURRAY, PETERSEN & SHUSTER LLP
     6530 West Campus Oval, Suite 210
     New Albany, Ohio 43054

Hugh Q. Gottschalk, WHEELER TRIGG O'DONNELL LLP, Denver, Colorado,
for Appellee Chrysler Group in 13-2117 and 13-2118.  He may be
reached at:

     Hugh Q. Gottschalk, Esq.
     WHEELER TRIGG O'DONNELL LLP
     370 Seventeenth Street, Suite 4500
     Denver, CO 80202
     Tel: 303-244-1800
     Fax: 303-244-1879
     E-mail: gottschalk@wtotrial.com

Katherine I. Twomey, UNITED STATES DEPARTMENT OF JUSTICE,
Washington, D.C., for Federal Appellee in 13-2117, 13-2118, and
13-2119.

                      About Chrysler Group

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

Chrysler LLC and 24 affiliates on April 30, 2009, sought Chapter
11 protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead
Case No. 09-50002).  The U.S. and Canadian governments provided
Chrysler with $4.5 billion to finance its bankruptcy case.

In connection with the bankruptcy filing, Chrysler reached an
agreement to sell all assets to an alliance between Chrysler and
Italian automobile manufacturer Fiat.  Under the terms approved by
the Bankruptcy Court, the company formerly known as Chrysler LLC
in June 2009, formally sold substantially all of its assets to the
new company, named Chrysler Group LLC.

In January 2014, the American car manufacturer officially became
100% Italian when Fiat Spa completed its deal to purchase the 40%
it did not already own of Chrysler.  Fiat has shared ownership of
Chrysler with the health care fund of the United Automobile
Workers unions since Chrysler emerged from bankruptcy in 209.

                           *     *     *

Standard & Poor's Ratings Services raised its ratings on U.S.-
based auto manufacturer Chrysler Group LLC, including the
corporate credit rating to 'BB-' from 'B+' in mid-January 2014.
The outlook is stable.


CLOUDEEVA INC: Saul Ewing Approved as Counsel for Trustee
---------------------------------------------------------
The U.S. Bankruptcy Court authorized Stephen Gray, Chapter 11
trustee for Cloudeeva, Inc., et al., to employ Saul Ewing LLP, as
his counsel.

Saul Ewing is expected to, among other things:

   a. investigate and prosecute claims on behalf of the trustee and
the Debtors' estates;

   b. prepare notices, applications, motions, certifications, and
complaints, and the prosecution or settlement thereof, on behalf of
and for the benefit of the trustee and the Debtors' estates; and

   c. assist the trustee in connection with the administration of
the assets of the estate or the reorganization of the Debtors'
business operations.

Stephen B. Ravin, Esq., tells the Court that Saul Ewing will bill
the estate at its usual hourly rates.

To the best of the trustee's knowledge, Saul Ewing is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached at:

         Stephen B. Ravin, Esq.
         Dipesh Patel, Esq.
         SAUL EWING LLP
         One Riverfront Plaza, Suite 1520
         1037 Raymond Boulevard
         Newark, NJ 07102
         Tel: (973) 286-6714

                         About Cloudeeva

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services. The company provides information technology staffing
services to major clients and third party vendors in the United
States and India. The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
32 protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton,
New Jersey, on July 21, 2014.  The cases are assigned to Judge
Kathryn C. Ferguson.

Cloudeeva disclosed $4.99 million in assets and $6.53 million in
liabilities as of the Chapter 11 filing. The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they are now seeking the retention of Trenk, DiPasquale,
Della Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court.  The
Debtors have also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel.  Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                          *     *     *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE
Ltd. BAPL asserted that the cases were not filed in good faith.
The Debtors subsequently filed an appeal challenging the dismissal
of their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings. Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on Oct. 7, 2014.  The Plan will be funded by cash on-hand on the
Effective Date, cash revenues derived from the Debtors' continued
operations, and investment of $1.15 million from Cloudeeva India
Private Limited or their designee, along with their guarantee of
all payments to be made under Plan, in exchange for the equity of
the Reorganized Debtors, as agreed in the parties' Plan Support
Agreement.

The Court approved the appointment of Stephen Gray as Chapter 11
trustee for the Debtors' estate.  The trustee is represented by
Saul Ewing LLP.


CLOUDEEVA INC: Trustee OK'd to Assume Debtors' Agreements
---------------------------------------------------------
U.S. Bankruptcy Judge Kathryn C. Ferguson authorized Stephen Gray,
Chapter 11 trustee in the estate of Cloudeeva, Inc., et al., to
substitute for the Debtors such as the Debtors' agreement,
obligations will be in agreements, obligations and acknowledgements
of the trustee.  Prestige Capital Corporation consented to the
assignment of the factoring agreement to the Trustee.  The Trustee
said that the relief sought is necessary for the Trustee to
continue business operations, while continuing to explore all
available options.

                          About Cloudeeva

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services. The company provides information technology staffing
services to major clients and third party vendors in the United
States and India. The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.  The cases are assigned to Judge Kathryn
C. Ferguson.

Cloudeeva disclosed $4.99 million in assets and $6.53 million in
liabilities as of the Chapter 11 filing.  The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they are now seeking the retention of Trenk, DiPasquale,
Della Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court. The
Debtors have also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel. Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                           *     *     *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE
Ltd. BAPL asserted that the cases were not filed in good faith.
The Debtors subsequently filed an appeal challenging the dismissal
of their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings. Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on Oct. 7, 2014.  The Plan will be funded by cash on-hand on the
Effective Date, cash revenues derived from the Debtors' continued
operations, and investment of $1.15 million from Cloudeeva India
Private Limited or their designee, along with their guarantee of
all payments to be made under Plan, in exchange for the equity of
the Reorganized Debtors, as agreed in the parties' Plan Support
Agreement.

The Court approved the appointment of Stephen Gray as Chapter 11
trustee for the Debtors' estate.  The trustee is represented by
Saul Ewing LLP.


CLOUDEEVA INC: Trustee Taps Chrysalis Mgt. as Financial Advisor
---------------------------------------------------------------
Stephen Gray, the Chapter 11 trustee for Cloudeeva, Inc., et al.,
ask the Bankruptcy Court for permission to employ Chrysalis
Management LLC to serve as as his financial advisor.

Chrysalis Management will, among other things:

   a. create a weekly cash flow and a monthly budget and preparing
variances thereto;

   b. validate required monthly operating reports; and

   c. oversee cash management.

To the best of the trustee knowledge, Chrysalis Management is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                      About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services. The company provides information technology staffing
services to major clients and third party vendors in the United
States and India. The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
32 protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton,
New Jersey, on July 21, 2014. The cases are assigned to Judge
Kathryn C. Ferguson.

Cloudeeva disclosed $4,989,375 in assets and $6,528,910 in
liabilities as of the Chapter 11 filing. The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they are now seeking the retention of Trenk, DiPasquale,
Della Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court. The
Debtors have also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel. Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                              * * *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE
Ltd. BAPL asserted that the cases were not filed in good faith.
The Debtors subsequently filed an appeal challenging the dismissal
of their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings. Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on Oct. 7, 2014.  The Plan will be funded by cash on-hand on the
Effective Date, cash revenues derived from the Debtors' continued
operations, and investment of $1.15 million from Cloudeeva India
Private Limited or their designee, along with their guarantee of
all payments to be made under Plan, in exchange for the equity of
the Reorganized Debtors, as agreed in the parties' Plan Support
Agreement.

The Court approved the appointment of Stephen Gray as Chapter 11
trustee for the Debtors' estate.  The trustee is represented by
Saul Ewing LLP.


CLOUDEEVA INC: Trustee Taps Punhani to Handle Immigration Matters
-----------------------------------------------------------------
The U.S. Bankruptcy Court authorized Stephen Gray, the Chapter 11
trustee for Cloudeeva, Inc., to employ Punhani Law Firm LLC, as his
special counsel to address existing and future immigration issues
related to the administration of the estates.

Punhani is expected to, among other things:

   1) handle matters of immigration law;

   2) prepare and file H1-B Specialty Occupation Worker petitions
(I-129H) for Beneficiaries and Green Card Processing; and

   3) make the necessary filings with U.S. Citizenship and
Immigration Services.

To the best of the trustee's knowledge, Punhani is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

As reported in the Troubled Company Reporter on Aug. 25, 2014, the
Debtors sought permission to employ Punhani to continue to provide
the legal services provided prior to the Petition Date, including
matters of immigration law, filings with United States Citizenship
and Immigration Services and Department of Labor, filing H1-B
Specialty Occupation Worker petitions (I-129H) for Beneficiaries
and Green Card Processing.

                      About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services. The company provides information technology staffing
services to major clients and third party vendors in the United
States and India. The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
32 protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton,
New Jersey, on July 21, 2014. The cases are assigned to Judge
Kathryn C. Ferguson.

Cloudeeva disclosed $4,989,375 in assets and $6,528,910 in
liabilities as of the Chapter 11 filing. The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they are now seeking the retention of Trenk, DiPasquale,
Della Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court. The
Debtors have also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel. Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                              * * *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE
Ltd. BAPL asserted that the cases were not filed in good faith.
The Debtors subsequently filed an appeal challenging the dismissal
of their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings. Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on Oct. 7, 2014.  The Plan will be funded by cash on-hand on the
Effective Date, cash revenues derived from the Debtors' continued
operations, and investment of $1.15 million from Cloudeeva India
Private Limited or their designee, along with their guarantee of
all payments to be made under Plan, in exchange for the equity of
the Reorganized Debtors, as agreed in the parties' Plan Support
Agreement.

The Court approved the appointment of Stephen Gray as Chapter 11
trustee for the Debtors' estate.  The trustee is represented by
Saul Ewing LLP.


COMMERCIAL MONEY: Cal. App. Court Won't Revive Clayton Claims
-------------------------------------------------------------
Ronnie Clayton et al., own small businesses in California.  They
entered into written agreements with Commercial Money Center, Inc.,
a Nevada corporation, providing that CMC would purchase equipment
for Clayton et al.'s use in their respective businesses, in
exchange for Clayton et al.'s promise to make monthly payments.
CMC subsequently bundled these Contracts into "contract pools," and
sold or assigned the payment streams associated with the pooled
contracts to various financial institutions, as assignees. The
payment streams were insured by insurance or surety companies under
surety bonds. In separate indemnity agreements in favor of the
Sureties, Clayton et al. agreed to accept liability if they failed
to make payments under their Contracts, and the Sureties were
required to make payments under the terms of the surety bonds. In
addition, the Sureties were purportedly the Contract servicers, who
collected the Contract payments from appellants.  Clayton et al.
said the Sureties delegated this task to Commercial Servicing
Corporation (CSC), which was also a Nevada corporation.

In 2001, Clayton et al. sued CMC, alleging that these Contracts,
although entitled equipment leases, were actually loans that
charged usurious rates.  They also sued (1) CSC, (2) the
shareholders of CMC and CSC, (3) the Assignees, and (4) the
Sureties.  The complaint also included a representative claim under
California's Unfair Competition Law (UCL), Business & Professions
Code section 17200.

In 2002, respondents Guardian Capital XV, LLC, NorStates Bank,
formally known as Bank of Waukegan, and Citibank, N.A. were
substituted in place of doe assignee defendants.  Additionally,
respondent Royal & Sun Alliance US was substituted into the case in
place of a doe surety defendant.

In June 2002, the case was automatically stayed pursuant to
Bankruptcy Code section 362, after CMC and CSC filed voluntary
bankruptcy petitions under Chapter 11 of the Bankruptcy Code. The
case was then removed to the bankruptcy court. After obtaining an
order from the bankruptcy court remanding their claims against the
other defendants, on October 15, 2003, Clayton et al. filed a
second amended and supplemental complaint.  After the trial court
(Judge Charles McCoy) sustained demurrers to the SAC and entered
judgments of dismissal in favor of certain defendants, appellants
appealed.

While the appeal was pending, Proposition 64 was passed. It
provided that a named plaintiff may bring a representative UCL
claim only if the plaintiff "'has suffered injury in fact and has
lost money or property as a result of such unfair competition.'"
(Californians for Disability Rights v. Mervyn's, LLC (2006) 39
Cal.4th 223, 227.)  

After ordering supplemental briefing on the impact of Proposition
64, the Court of Appeals of California, Second District, Division
Four, court issued its decision. (Clayton v. Fisher (November 18,
2008, B179134) [nonpub. opn.].)  The Court held that as no judgment
of dismissal had been entered in favor of defendants named in both
the individual and representative claims (such as Guardian and
Royal), Clayton et al. could not appeal from the trial court's
rulings, as there was no final judgment. (Hill v. City of Long
Beach (1995) 33 Cal.App.4th 4th 1684, 1695 [order sustaining
demurrers not appealable; appeal may be taken only after trial
court enters judgment of dismissal].)

As to defendants named in the representative UCL claim (such as
Citibank and NorStates), the California Appeals Court vacated the
judgments of dismissal and remanded the matter to the superior
court to allow appellants to amend and substitute a new plaintiff
or plaintiffs with standing under the UCL.

After remand, Clayton et al. filed a fourth amended and
supplemental complaint (4thAC). The trial court (Judge Emilie H.
Elias) sustained demurrers to certain causes of action, but granted
appellants leave to amend others.  Clayton et al. subsequently
filed a fifth amended complaint (5thAC). The trial court (Judge
Carl J. West) sustained respondents' demurrers to this complaint,
and judgments of dismissal in favor of respondents were entered.
Clayton et al. then filed an appeal, challenging the prior orders
sustaining respondents' demurrers.

The California Appeals Court on January 13 concluded that Clayton
et al.'s claims against respondents fail for numerous reasons:

     1. Citibank and NorStates cannot be sued on any claim except
the UCL claim, as the non-UCL claims were time-barred.

     2. Royal cannot be sued for receiving purportedly usurious
payments pursuant to orders of a bankruptcy court.

     3. respondents cannot be directly liable for usury or failure
to be licensed, as they made no loans to appellants.

     4. respondents cannot be vicariously liable for CMC's making
of allegedly usurious loans and failure to be licensed as a
California finance lender.

There was no reversible error in the trial court orders sustaining
demurrers to Clayton et al.'s various complaints, the Appeals Court
said.

A copy of that decision is available at http://is.gd/ER0Vgvfrom
Leagle.com.

                  About Commercial Money Center

Commercial Money Center, Inc., filed for chapter 11 protection on
May 30, 2002 in the U.S. Bankruptcy Court for the Southern
District of Florida.  The company's case was converted into a
chapter 7 liquidation proceeding on June 28, 2002.  The Florida
Bankruptcy Court ordered that all collections by the servicers and
sub-servicers under the leases be paid in escrow to the bankruptcy
trustee pending final resolution of rights to those collections.

On Sept. 18, 2002, the Florida Court transferred the Debtor's
chapter 11 case to the U.S. Bankruptcy Court for the Southern
District of California (Case No. 02-09721).  John W. Cutchin, Esq.
represents the Debtor in its liquidation proceeding.  Richard M.
Kipperman has been appointed as Chapter 7 liquidation trustee in
the Debtor's bankruptcy case.


DAHL'S FOODS: Equity Ventures Offers $2.8MM for Clive Location
--------------------------------------------------------------
Patt Johnson at The Des Moines Register reports that Dahl's Foods
Inc. store at 8700 Hickman Road in Clive, Iowa, is being carved out
of the bankruptcy case because Equity Ventures Commercial
Development LC, has proposed a $2.8 million purchase price for the
Clive property.

According to The Des Moines Register, the sale is expected to be
approved at a Jan. 30, 2015 hearing at the Bankruptcy Court.

The Des Moines Register relates that Equity Ventures likely would
redevelop the site.  Citing Dennis Henderson, Clive city manager,
the report states that the almost six-acre site at the corner of
Hickman Road and 86th Street is ripe for redevelopment.  Mr.
Henderson, according to the report, said that options for the land
could include another grocery store or redeveloping the property as
commercial/retail space.

                        About Dahl's Foods

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

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

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


DAHL'S FOODS: Mum on Winning Bidder of Assets
---------------------------------------------
The Des Moines Register reports that an auction was held in the law
offices of Bradshaw, Fowler, Proctor & Fairgrave in Des Moines,
Iowa, for Dahl's Foods Inc.'s assets Monday, but a winning bidder
has not yet been revealed.

Patt Johnson at The Des Moines Register relates that the decision
likely will not become public until the bids are approved by the
Bankruptcy Court later this month.  As reported by the Troubled
Company Reporter on Dec. 29, 2014, a sale hearing will be held on
Jan. 30, 2015.

According to The Des Moines Register, Associated Wholesale Grocers,
which already owns seven of the Debtor's buildings, is the
front-runner in the bidding process.  The report says that
Associated Wholesale has proposed paying $3.5 million for the
assets, which could be adjusted depending on the value of the
inventory and other items.

                        About Dahl's Foods

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

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

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


DEB STORES: Takes Down Website, Stores May Stay Open Until March
----------------------------------------------------------------
Marcy Cruz, writing for Plus-Model-Mag.com, reports that the Deb
Shops website has been taken down and all final sales are happening
within their stores.

Deb Shops has started liquidating its 287 stores in 42 states,
Marcus Rauhut at Publicopiniononline.com relates.  The report
states that the stores will remain open until all merchandise has
been sold.  Gift cards, according to the report, will be honored
through March 8, 2015.

An Edwardsville store spokesperson said she believed the stores
would remain open until early March, but some locations may close
earlier, Geri Gibbons at Timesleader.com reports.  Timesleader.com
adds that store furniture, fixtures, and equipment will also
eventually be for sale.

                          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: A&G Realty to Manage Sale of Retail Store Leases
-------------------------------------------------------------
A&G Realty Partners, a commercial real estate, advisory and
investment group, on Jan. 20 disclosed that it has been retained by
Delia's Inc. to manage the sale of the 71 retail store leases and
the fee owned 435,765 sf Distribution Center in Hanover, PA,
following the company's recent Chapter 11 bankruptcy filing.

A&G Realty is currently accepting bids thru February 2, 2015 to
acquire the leases, which range from 3,000 to 5,000 square feet in
key retail locations at some of the country's top malls (see
attached full store listing).

"The leases are located in very strong malls/centers and provide an
excellent opportunity for expansion," said Mike Matlat, Managing
Director of A&G Realty Partners.  "Retailers have the opportunity
to take over the leases by assignment.  These leases are
exceptional retail opportunities and are expected to attract
interest from many national and local retailers."

Also being sold is "The Owned Distribution Center, located at
348-350 Poplar Street, Hanover, PA which is within 5 miles of Route
30, the primary east/west highway through York County.  The
Distribution Center is 435,765 sf (3 buildings) sitting on 24.93
acres.  The building has already drawn significant interest and is
expected to be sold quickly" said Mr. Matlat.

                    About A&G Realty Partners

A&G Realty Partners -- http://www.agrealtypartners.com--
specializes in real estate dispositions, lease restructurings,
facilitating growth opportunities, valuations and acquisitions. A&G
Realty has serviced the nation's most recognizable retail brands in
healthy and distressed situations.  A&G Realty is a leader in
finding innovative ways to consolidate and reconfigure real estate
to achieve the highest possible value.  A&G Realty was founded in
2012 and headquartered in New York with offices in Chicago and Los
Angeles.

                        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.


DETROIT, MI: Bankruptcy Costs Reach About $178 Million
------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
legions of lawyers, consultants and other advisers have been paid
nearly $178 million for their work on Detroit's historic
bankruptcy, a number that comes in under budget but still makes it
the most expensive municipal restructuring in U.S. history.
According to the report, the city of Detroit detailed the fees and
expenses paid to dozens of advisers in a filing made in U.S.
Bankruptcy Court in Detroit.

                   About the City of Detroit

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

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

Michigan Governor Rick Snyder authorized the bankruptcy filing.

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

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

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

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

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

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

The TCR, on Dec. 18, 2014, reported that Detroit has filed a
notice that the effective date of its bankruptcy-exit plan
occurred on Dec. 10, 2014.  U.S. Bankruptcy Judge Steven Rhodes on
Nov. 12, 2014, entered an order confirming the Eighth Amended Plan
for the Adjustment of Debts of the City of Detroit.



DETROIT, MI: Jones Day Cuts $17.7MM from Legal Bills
----------------------------------------------------
Joe Guillen, writing for Detroit Free Press, reported that Jones
Day, lead counsel for the city of Detroit in its bankruptcy case,
agreed to cut $17.7 million from its legal bills to the city to
justify the firm's charges.

According to the Free Press, after the discount, Detroit was left
with a $57.9 million tab from Jones Day, which included $2.7
million in expenses for things like lawyers' meals and hotel stays
in Detroit.  The Free Press said Jones Day's bills were the most
expensive among those from Detroit's dozens of bankruptcy
consultants that altogether charged the city about $170 million.

                   About the City of Detroit

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

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

Michigan Governor Rick Snyder authorized the bankruptcy filing.

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

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

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

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

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

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

The TCR, on Dec. 18, 2014, reported that Detroit has filed a
notice that the effective date of its bankruptcy-exit plan
occurred on Dec. 10, 2014.  U.S. Bankruptcy Judge Steven Rhodes on
Nov. 12, 2014, entered an order confirming the Eighth Amended Plan
for the Adjustment of Debts of the City of Detroit.


DETROIT, MI: Judge Invites 'Civil' Comments on Lawyers' Fees
------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. Bankruptcy Judge Steven Rhodes asked for
comments to help him decide whether the city of Detroit is paying
"reasonable" professional fees incurred in its municipal
bankruptcy.

According to the report, the judge said comments, for or against,
must be specific, fact-based, and supported in the record or in
attached documents, in addition to being decorous.  Moreover, Judge
Rhodes wants comparisons with fees in other bankruptcy cases of
similar size, complexity and duration, the report related.

The Troubled Company Reporter, on Dec. 15, reported that a person
familiar with closed-door talks on the city's bankruptcy said the
final bill for Detroit's municipal bankruptcy is likely to be
around $150 million.  The person added that the $177 million billed
by lawyers and consultants who have been working on Detroit's
municipal bankruptcy case has been trimmed by savings from a
holdback originally put on the bills and about $10 million more in
additional cost reductions negotiated recently.

                   About the City of Detroit

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

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

Michigan Governor Rick Snyder authorized the bankruptcy filing.

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

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

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

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

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

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

The TCR, on Dec. 18, 2014, reported that Detroit has filed a
notice that the effective date of its bankruptcy-exit plan
occurred on Dec. 10, 2014.  U.S. Bankruptcy Judge Steven Rhodes on
Nov. 12, 2014, entered an order confirming the Eighth Amended Plan
for the Adjustment of Debts of the City of Detroit.


DORAL FINANCIAL: Tax Refund Win Challenged by Puerto Rico
---------------------------------------------------------
Alexander Lopez, Christie Smythe and Erik Larson, writing for
Bloomberg News, reported that Puerto Rico appealed a court ruling
that Doral Financial Corp., the holding company for the
commonwealth's second-largest mortgage lender, is entitled to a
$229.9 million tax refund from the cash-strapped island's
government.

According to the report, Puerto Rico Justice Department officials
said in a today that the trial court erred in ruling requiring
Puerto Rico's Treasury Department to refund the full amount the
bank's holding company claimed.

The case is Doral Financial Corp. (DRL) v. Commonwealth of Puerto
Rico, KAC2014-0533, Civil Court of First Instance, San Juan
Superior Division.

                       About Doral Financial

Doral Financial, the holding company for Puerto Rico's second-
largest lender, has been in a legal dispute with the
commonwealth's treasury department over whether it is entitled to
a $229.9 million tax refund, Bloomberg News notes.  A judge in San
Juan ruled in October in favor of Doral.  Puerto Rico Treasury
Secretary Melba Acosta Febo said the commonwealth would appeal,
adds the report.

                         *     *     *

The Troubled Company Reporter, on Dec. 3, 2014, reported that
Standard & Poor's Ratings Services said that it suspended the 'CC'
issuer credit rating of Doral Financial Corp.  The ratings were
placed on CreditWatch with negative implications on May 6, 2014.

"Our suspension of the ratings on Doral reflects a lack of
information to satisfactorily assess the company and make a well-
informed ratings decision," said Standard & Poor's credit analyst
Sunsierre Newsome.


ENERGY FUTURE: To Have "Unmanifested" Asbestos Claims Bar Date
--------------------------------------------------------------
U.S. 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.  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 Jan. 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.


ERNEST FIELDING: Bankrupts Can Cram Home-Sale Proceeds Down on IRS
------------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. Bankruptcy Judge Michael Lynn ruled that a
1990 decision by the U.S. Supreme Court involving Chapter 11 is
applicable in Chapter 13 and allows the court to direct that the
Internal Revenue Service must apply sale proceeds as the bankrupts
elect.

The report related that the case involved a couple in Chapter 13
who chose to sell their exempt home and use the proceeds to pay
down secured portions of the tax claims.  The IRS objected,
claiming the right to decide how the proceeds are applied among
secured, priority, and unsecured tax claims.

According to the report, Judge Lynn disagreed with the IRS and
said, like some other courts, that the Supreme Court's U.S. v.
Energy Resources Co. applies equally to Chapter 13 cases.  For
Judge Lynn, compelling the IRS to apply home-sale proceeds to
secured tax claims was essential to insure that the bankrupts could
comply with their plan, the report related.

The case is In re Fielding, 13-43212, U.S. Bankruptcy Court,
Northern District Texas (Fort Worth).


FAIRFIELD SENTRY: 2nd Circuit Denies Farnum's En Banc Review Plea
-----------------------------------------------------------------
Cadwalader.com reports that the U.S. Court of Appeals for the
Second Circuit denied on Jan. 13, 2015, Farnum Place, LLC's
petition for en banc review of the Second Circuit's September 2014
panel decision holding that bankruptcy courts are required to
review the propriety of Fairfield Sentry's transfers of property
interests within the territorial jurisdiction of the U.S., even if
the transfer has already been approved in the Debtor's foreign
proceeding.

Cadwalader.com recalls that Farnum Place filed on Oct. 10, 2014, a
petition in the Second Circuit for rehearing en banc, arguing,
among other things, that Fairfield Sentry's $230 million claims
against Bernard L. Madoff Investment Securities LLC were interests
located in the British Virgins Islands.  Farnum Place,
Cadwalader.com relates, argued that: (i) the situs of the Fairfield
Claims was in the BVI because Fairfield was a BVI company
undergoing liquidation in the BVI under the supervision of a BVI
court pursuant to a BVI liquidator; and (ii) that in light of
Chapter 15's purpose of facilitating foreign proceedings, a "common
sense appraisal" dictated that the situs of the Fairfield Claims
was the BVI.

Cadwalader.com states that Fairfield Sentry's foreign
representative argued that New York was the proper situs of the
Fairfield Claims because (a) the BLMIS trustee was located in New
York and was subject to garnishment under New York law, (b) New
York courts had jurisdiction over the BLMIS property from which the
Fairfield Claims would be satisfied, and (c) the Fairfield Claims
would be paid from BLMIS property located in New York.

                     About Fairfield Sentry

Fairfield Sentry is being liquidated under the supervision of the
Commercial Division of the High Court of Justice in the British
Virgin Islands.  It is one of the funds owned by the Fairfield
Greenwich Group, an investment firm founded in 1983 in New York
City.  Fairfield Sentry and other Greenwich funds had among the
largest exposures to the Bernard L. Madoff fraud.

Fairfield Sentry Limited filed for Chapter 15 protection (Bankr.
S.D.N.Y. Case No. 10-13164) on June 14, 2010.

Fairfield Sentry became the subject of a BVI liquidation, and a
BVI court appointed the Liquidator under BVI law.  The Liquidator
then sought recognition of the BVI liquidation as a foreign main
proceeding under Chapter 15 of the Code in the Southern District
of New York.  The Bankruptcy Court entered an order granting
recognition of the Fairfield Sentry case on July 22, 2010,
enabling the Liquidator to use the U.S. Bankruptcy Court to
protect and administer Fairfield Sentry's assets in the U.S.


FILENE'S BASEMENT: Successor Lines Up $50MM in Financing
--------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that the successor company to bankrupt clothing retailers Syms
Corp. and Filene's Basement has lined up to $50 million in
financing to pay off its remaining creditors.

                      About Filene's Basement

Massachusetts-based Filene's Basement, also called The Basement,
is the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22
(Bankr. D. Del. Case No. 09-11525) on May 4, 2009, represented by
lawyers at Pachulski Stang Ziehl & Jones LLP.  Epiq Bankruptcy
Solutions serves as claims and notice agent.  The Debtors
disclosed assets of $236 million, including real estate of $97.7
million, and liabilities of $94 million, including $31.1 million
owing on a revolving credit with Bank of America NA as agent. In
addition, there were $11.1 million in letters of credit
outstanding on the revolver.

The 2009 Debtor was formally renamed FB Liquidating Estate,
following the sale of all of its assets to Syms Corp. in June
2009.

Pursuant to the Liquidating Plan confirmed in January 2010,
secured creditors in the Chapter 11 case have been paid in full,
and holders of priority, administrative and convenience class
claims have received 100% of their allowed claims.  As reported by
the Troubled Company Reporter on Dec. 20, 2010, Alan Cohen,
Chairman of Abacus Advisors LLC and Chief Restructuring Officer
for FB Liquidating Estate disclosed that a second distribution of
dividend checks to Filene's unsecured creditors amounting to 12.5%
of approved claims has been made, bringing the cumulative
distributions on unsecured claims to 62.5%.

On Nov. 2, 2011, Syms Corp. placed itself, Filene's Basement and
two other units in Chapter 11 bankruptcy (Bankr. D. Del. Case Nos.
11-13511 to 11-13514) after a failed bid to sell the business.
The two units are Syms Clothing Inc. and Syms Advertising Inc.

Judge Kevin J. Carey presides over the case.  Lawyers at Skadden
Arps Slate Meagher & Flom LLP serve as the Debtors' counsel.  The
Debtors tapped Rothschild Inc. as investment banker and Cushman
and Wakefield Securities, Inc., as real estate financial advisors.

Syms shuttered its namesake and Filene's Basement outlets upon the
bankruptcy filing and tapped a joint venture of Gordon Brothers
Retail Partners LLC and Hilco Merchant Resources LLC to run the
going-out-of-business sales.  The sale may continue until Jan. 31,
2012.

Filene's Basement estimated $1 million to $10 million in assets
and $50 million to $100 million in debts.  The petitions were
signed by Gary Binkoski, authorized representative of Filene's
Basement.

The official committee of unsecured creditors appointed in the
2011 case has retained Hahn & Hessen LLP as legal counsel.

Holders of equity in Syms Corp. pushed for an official
shareholders' committee and separation of the Syms and Filene's
Basement bankruptcy estates.

Gordon Brothers and Hilco are represented by Goulston & Storrs,
P.C. and Ashby & Geddes, P.A.


GASPARI NUTRITION: Sold to Body Temple Unit for $10.1MM
-------------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that sale
of Gaspari Nutrition Inc.'s assets to an affiliate of U.K-based
Body Temple Ltd. for $10.1 million closed on Dec. 23.

As previously reported by The Troubled Company Reporter, citing
Sherri Toub, a bankruptcy columnist for Bloomberg News, Gaspari
Nutrition, a developer of sports nutrition supplements founded by
bodybuilder Rich "The Dragon Slayer" Gaspari, announced in early
December that so-called stalking horse bidder Allegro Nutrition
LLC, which offered $10.1 million, was the winner at the conclusion
of an auction.  The initial bid of Allegro, affiliated with
Ireland-based Allegro Ltd., was $5 million, subject to adjustment
for inventory and accounts receivable, the Bloomberg report
related.

                      About Gaspari Nutrition

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



GENERAL MOTORS: Issues Three More Recalls to Close Out 2014
-----------------------------------------------------------
Jeff Bennett, writing for The Wall Street Journal, reported that
General Motors Co. closed 2014 by issuing three new recalls
covering more than 83,780 large sport-utility vehicles and pickup
trucks, while boosting to 84 the number of recall campaigns
announced by the auto maker during the year.

According to the report, the largest of the three is an
electrical-system defect potentially affecting 83,572 Cadillac
Escalade and Chevrolet Yukons from the 2011 to 2012 model years.
The remaining two recalls were for 56 Chevrolet Silverado and GMC
Sierra heavy-duty pickup trucks built between September and October
of 2014 for a faulty hose clamp, and for 152 of the 2015 Chevrolet
Silverado and GMC 1500 pickup trucks over concerns the rear axle
shaft may fracture while the vehicle is being driven, the Journal
said.

                       About General Motors

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

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

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

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

                        *     *     *

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

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

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



GLOBAL CLEAN: Losses, Deficit Raise Going Concern Doubt
-------------------------------------------------------
Global Clean Energy Holdings, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $328,000 on $78,810 of total
revenue for the quarter ended March 31, 2014, compared with a net
loss of $239,000 on $105,600 of total revenue for the same period
in 2013.

The Company's balance sheet at March 31, 2014, showed $20.01
million in total assets, $16.6 million in total liabilities, and a
stockholders' deficit of $3.49 million.

The Company incurred losses from operations applicable to its
common shareholders of $328,000 and $239,000 for the three months
ended March 31, 2014, and 2013, respectively, and has an
accumulated deficit applicable to its common shareholders of
$28.7 million at March 31, 2014.  The Company also used cash in
operating activities of $289,000 and $725,000 during the three
months ended March 31, 2014 and 2013, respectively.  At March 31,
2014, the Company has negative working capital of $6.44 million and
a stockholders' deficit attributable to its stockholders of
$28.7 million.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.

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

                        http://is.gd/ytjaB6

Torrance, Calif.-based Global Clean Energy Holdings, Inc., is a
multi-national, energy agri-business focused on the development of
non-food based bio-feedstocks.



GOLD RIVER VALLEY: Files for Chapter 11 in Los Angeles
------------------------------------------------------
Gold River Valley, LLC, sought Chapter 11 bankruptcy protection
(Bankr. C.D. Cal. Case No. 15-10691) in Los Angeles, on Jan. 16,
2015.  The case is assigned to Judge Vincent P. Zurzolo.

The Debtor estimated $10 million to $50 million in assets and
$1 million to $10 million in debt.  The schedules of assets and
liabilities and statement of financial affairs are due Jan. 30,
2015.

Sunshine Valley, LLC, holds 100% of the membership interests of the
Debtor.

In re Atherton Financial Building, LLC (14-bk-27223-TD), an
affiliate of the Debtor, was filed on Sept. 9, 2014 in the U.S.
Bankruptcy Court for the Central District of California, Los
Angeles Division.  The Chapter 11 case is currently pending before
Judge Donovan; a motion to dismiss the case and authorize
distribution to creditors has been filed.

David B Golubchik, Esq., at Levene Neale Bender Rankin & Brill LLP,
in Los Angeles, serves as counsel to Gold River.  For the legal
services, the attorney has agreed to accept $50,000 sourced from
funds received by the equity holder from surplus funds of affiliate
Atherton Financial.


HOWREY LLP: Trustee Reaches $1.85-Mil. Deal with Wiley Rein
-----------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
Howrey LLP trustee Allan Diamond has reached a settlement with a
group of former Howrey leaders and a law firm that initially
advised the defunct firm on its bankruptcy.

According to the report, the deal will see Wiley Rein LLP
contribute $1 million to Howrey's coffers and the firm's onetime
dissolution committee, including former chairman Robert Ruyak, chip
in another $850,000.  The report related that Mr. Diamond accused
the former advisers of failing to act on a key issue involving
Howrey's D.C. landlord in the early days of the firm's bankruptcy
proceeding.

                         About Howrey LLP

Three creditors filed an involuntary Chapter 7 petition (Bankr.
N.D. Cal. Case No. 11-31376) on April 11, 2011, against the
remnants of the Washington-based law firm Howrey LLP.  The filing
was in San Francisco, where the firm had an office.  The firm
previously was known as Howrey & Simon and Howrey Simon Arnold &
White LLP.  The firm at one time had more than 700 lawyers in 17
offices.  The partners voted to dissolve in March 2011.

The firm specialized in antitrust and intellectual-property
matters.  The three creditors filing the involuntary petition
together have $36,600 in claims, according to their petition.

The involuntary chapter 7 petition was converted to a chapter 11
case in June 2011 at the request of the firm.  In its schedules
filed in July, the Debtor disclosed assets of $138.7 million and
liabilities of $107.0 million.

Representing Citibank, the firm's largest creditor, is Kelley
Cornish, Esq., a partner at Paul, Weiss, Rifkind, Wharton &
Garrison.  Representing Howrey is H. Jason Gold, Esq., a partner
at Wiley Rein.

The Official Committee of Unsecured Creditors is represented in
the case by Bradford F. Englander, Esq., at Whiteford, Taylor And
Preston LLP.

In September 2011, Citibank sought conversion of the Debtor's case
to Chapter 7 or, in the alternative, appointment of a Chapter 11
Trustee.  The Court entered an order appointing a Chapter 11
Trustee. In October 2011, Allan B. Diamond was named as Trustee.
He is represented by Andrew Baxter Ryan, Esq., and Stephen Todd
Loden, Esq., at Diamond McCarthy LLP as counsel.



KID BRANDS: District Judge Junks S. Wallis' Appeal
--------------------------------------------------
U.S. District Judge William Martini junked Scott Wallis' appeal of
a bankruptcy court order that denied his request for additional
time to reply to the sale of Sassy Inc.'s business.    

In August last year, Kid Brands Inc. received approval from the
U.S. Bankruptcy Court in New Jersey to sell the assets of its
subsidiary Sassy Inc. to Angelcare Monitors Inc., a Canadian
company.

Angelcare acquired the assets for $14 million, plus quantified
amounts to cover specified contract, employee and other costs and
will assume specified liabilities.

                        About Kid Brands

Based in Rutherford, New Jersey, Kid Brands, Inc., is a designer,
importer, marketer, and distributor of infant and juvenile consumer
products.  Its operating subsidiaries consist of Kids Line, LLC,
CoCaLo, Inc., Sassy, Inc., and LaJobi, Inc.  Providing "everything
but the baby" for a child's nursery, the company sells infant
bedding and accessories under the Kids Line and CoCaLo brands;
nursery furniture under the LaJobi brand; and baby care items under
the Kokopax and Sassy brands.

Citing their inability to raise capital due to contingent
liabilities and operational issues, Kid Brands and six of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
14-22582) on June 18, 2014.  To preserve the value of their assets,
the Debtors are pursuing a sale of the assets pursuant to section
363 of the Bankruptcy Code.

As of April 30, 2014, the Debtors had $32.40 million in total
assets and $109.1 million in total liabilities.  As of the Petition
Date, unsecured debts totaled $54 million.

Judge Donald H. Steckroth oversees the cases.  The Debtors have
sought and obtained an order directing joint administration of
their Chapter 11 cases.

Lowenstein Sandler LLP serves as the Debtors' counsel.
PricewaterhouseCoopers LLP is the Debtors' financial advisor.  GRL
Capital Advisors acts as the Debtors' restructuring advisors.
GRL's Glenn Langberg served as the Debtors' chief restructuring
officer.  Mr. Langberg also oversaw the bankruptcy and sales of Big
M Inc., operator of the Mandee and Annie Sez stores.  Rust
Consulting/Omni Bankruptcy is the Debtors' claims and noticing
agent.

Salus Capital Partners LLC and Sterling National Bank have
committed to provide up to $49 million in DIP financing to the
Debtors.


KIOR INC: MDA Seeks Approval to Sue KFT Trust, Five Others
----------------------------------------------------------
The Mississippi Development Authority has filed a motion seeking
court approval to sue KFT Trust and five others in behalf of KiOR
Inc.

The five are Khosla Ventures III LP, VNK Management LLC, 1538731
Alberta Ltd., 1538716 Alberta Ltd., and KFT trustee Vinod Khosla.


KiOR previously agreed to release its claims in exchange for
financing from Pasadena Investments LLC, a wholly-owned subsidiary
of the trust which was formed three days before the company's
bankruptcy filing.

"[KiOR] undertook no due diligence as to the validity of any estate
claims against the defendants," said Dennis Meloro, Esq., at
Greenberg Traurig LLP, in Wilmington, Delaware.

Mr. Meloro argued that no unsecured creditors' committee has been
appointed in KiOR's bankruptcy case, which makes the agency the
only one qualified to prosecute claims in behalf of the company.

Mr. Meloro can be reached at:

     Greenberg Traurig LLP
     The Nemours Building
     1007 North Orange Street, Suite 1200
     Wilmington, DE 19801
     Phone: (302) 661-7000
     Fax: (302) 661-7360
     Email: MeloroD@gtlaw.com

                          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.


LIFE PARTNERS: Files Voluntary Chapter 11 Bankruptcy Petition
--------------------------------------------------------------
Life Partners Holdings, Inc., parent company of Life Partners,
Inc., on Jan. 20 disclosed that it has filed a voluntary petition
for relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Northern District of
Texas on January 20, 2015.  The Company will continue to operate
its business as "debtor-in-possession" under the jurisdiction of
the Bankruptcy Court and in accordance with the applicable
provisions of the Bankruptcy Code and the orders of the Bankruptcy
Court.  Its primary operating subsidiary, Life Partners, Inc., will
continue to operate as a life settlement provider.

In connection with the Chapter 11 case, Life Partners Holdings has
also filed for the appointment of a Chief Restructuring Officer who
will oversee the implementation of the Company's plan for
reorganization.

The Company elected to seek protection under Chapter 11 while it
pursues an appeal of a $46 million judgment against the Company and
two of its executive officers in favor of the Securities and
Exchange Commission as previously disclosed in the Company's latest
quarterly filing with the Commission.

The Securities and Exchange Commission had filed a motion with the
Federal trial court to appoint a receiver for the Company.  Faced
with this possibility and having received no other protection
requested from the Federal trial court, the Company elected to seek
protection under Chapter 11 in order to avoid the appointment of a
receiver which could have liquidated the Company and prevented the
effective prosecution of the appeal.

In connection with the bankruptcy filing, the Company is seeking
customary authority from the Bankruptcy Court that will enable it
to continue to operate and for its subsidiaries to continue to
serve its clients.

As of January 20, 2015 the Company and its subsidiaries had
approximately $18.9 million in assets, including approximately $2.9
million of cash and cash equivalents and approximately $352,000 of
certificates of deposit.

Brian Pardo, CEO of Life Partners Holdings, Inc., stated, "After
careful consideration, the Board of Directors unanimously concluded
that filing for Chapter 11 was the appropriate course of action for
the Company, given the importance of continuing to pursue the
appeal of the final judgment in the SEC's case as well as the
prosecution and resolution of other pending litigation.  We
continue to believe in life settlements as a valuable and
attractive asset class and we remain committed to continuing to
serve our clients.  In fact, during 2014, we saw over $71 million
paid out to thousands of LPI clients and over $200 million in
payouts since 2001.  And, we expect to see additional payouts in
the coming years.  This was a strategic move intended to protect
the value of the Company and its shareholders from the damaging
litigation which we believe would otherwise have destroyed all
shareholder value.  We look forward to working towards the
successful and prompt emergence of the Company from Chapter 11."

The Company indicated that it expects to provide additional details
with respect to the Chapter 11 plan of reorganization as soon as
they are available.  Such a plan may involve the sale of one or
more subsidiaries of Life Partners Holdings or other Company assets
with Bankruptcy Court approval.

Life Partners Holdings, Inc. is the parent company of the world's
oldest company engaged in the secondary market for life insurance,
commonly called "life settlements."  Since its incorporation in
1991, Life Partners, Inc. has completed over 162,000 transactions
for its worldwide client base of over 30,000 high net worth
individuals and institutions in connection with the purchase of
over 6,500 policies totaling over $3.2 billion in face value.

Headquartered in Waco, Texas, Life Partners Holdings,Inc. --
http://www.lphi.com/-- is a financial services company.  The
Company is engaged in the secondary market for life insurance known
as life settlements.  It provide purchasing services for life
settlements to client base.  It categorizes purchasers of life
settlements as either institutional or retail.  Life settlement
transactions involve the sale of an existing life insurance policy
or interest in the policy to another party.  It made significant
investments in proprietary software and processes that enable to
facilitate a higher volume of transactions while maintaining
quality controls. The Company rely upon brokers to refer potential
sellers of policies and upon financial professionals.  It
facilitates transactions by identifying, examining, and purchasing
the policies as agent for the purchasers.


LIGHTSQUARED INC: Disclosures OK'd; Plan Hearing to Start March 9
-----------------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York on Jan. 20, 2015, approved the second
amended specific disclosure statement explaining Lightsquared Inc.,
et al.'s second amended joint plan, after determining that the
disclosures contain adequate information within the meaning of
Section 1125(a) of the Bankruptcy Code.

Judge Chapman set the following dates and deadlines with respect to
the Plan:

   * Deadline To Accept or Reject Plan: February 9, 2015
   * Deadline To File Voting Report: February 13, 2015
   * Deadline To File Objections to Plan: February 25, 2015
   * Deadline To File Confirmation Brief: March 5, 2015
   * Commencement of Confirmation Hearing: March 9, 2015

Joseph Checkler, writing for Daily Bankruptcy Review, reported that
while Judge Chapman approved the disclosure statement, she urged
the Debtors company to work on a new deal that would satisfy Dish
Network Corp. Chairman Charlie Ergen, the company's largest
creditor and biggest opponent of the proposal.

As previously reported by The Troubled Company Reporter, the
Debtors, in December, filed a joint plan and disclosure statement,
which contemplate, among other things, (A) new money investments by
the New Investors in exchange for a combination of preferred and
common equity, (B) the conversion of the Prepetition LP Facility
Claims into new second lien debt obligations, (C) the repayment in
full, in cash, of the Inc. Facility Prepetition Inc. Facility
NonSubordinated Claims immediately following confirmation of the
Plan, (D) the payment in full, in cash, of LightSquared's general
unsecured claims, (E) the provision of $1.25 billion in new money
working capital for the Reorganized Debtors, (F) the assumption of
certain liabilities, (G) the resolution of all inter-Estate
disputes, and (H) the contribution by Harbinger of the Harbinger
Litigations.

On December 10, 2014, Fortress Credit Opportunities Advisors LLC;
Centerbridge Partners, L.P.; Harbinger Capital Partners LLC, and
the JPM Inc. Investment Parties entered into a plan support
agreement, pursuant to which each party thereto agreed to support
the Plan to the exclusion of any other contemplated plan.
Contemporaneously with the execution of the Plan Support
Agreement, Fortress and Centerbridge purchased the Prepetition LP
Facility Claims held by (a) Capital Research and Management
Company, in its capacity as investment manager to certain funds
that are holders of Prepetition LP Facility Claims, and (b) Cyrus
Capital Partners, L.P., in its capacity as investment manager to
certain funds that are holders of Prepetition LP Facility Claims.

                     About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LVN PROPERTY: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: LVN Property Management, LLC
        8010 Firenze Blvd
        Orlando, FL 32836

Case No.: 15-00447

Chapter 11 Petition Date: January 19, 2015

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Debtor's Counsel: David R McFarlin, Esq.
                  WOLFF, HILL, MCFARLIN & HERRON, P.A.
                  1851 West Colonial Drive
                  Orlando, FL 32804
                  Tel: 407-648-0058
                  Fax: 407-648-0681
                  Email: dmcfarlin@whmh.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mary T Mai Nguyen, manager.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/flmb15-00447.pdf


MATT'S TEX MEX: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                Case No.
      ------                                --------
      Matt's Tex Mex Roanoke, LLC           15-40113
      113 N. Oak Street
      Roanoke, TX 76262

      Joaquin & Marco, Inc.                 15-40114
      1904 Skillman Street
      Dallas, TX 75206

Chapter 11 Petition Date: January 19, 2015

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

Debtors' Counsel: Joyce W. Lindauer, Esq.
                  JOYCE W. LINDAUER ATTORNEY, PLLC
                  12720 Hillcrest Road, Suite 625
                  Dallas, TX 75230
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  Email: joyce@joycelindauer.com

                                 Estimated   Estimated
                                  Assets     Liabilities
                                ----------   -----------
Matt's Tex Mex Roanoke          $500K-$1MM    $1MM-$10MM
Joaquin & Marco, Inc.           $500K-$1MM    $1MM-$10MM

The petition was signed by Matt G. Martinez III, president.

The Debtors did not include a list of their largest unsecured
creditors when they filed the petitions.


MEADOWBROOK INSURANCE: A.M. Best Puts 'bb' ICR Under Review
-----------------------------------------------------------
A.M. Best Co. has placed under review with positive implications
the issuer credit rating (ICR) of "bb" of Meadowbrook Insurance
Group, Inc. (MIGI) (Southfield, MI) [NYSE: MIG].  Concurrently,
A.M. Best has also placed the financial strength rating of B++
(Good) and the ICRs of "bbb" under review with positive
implications for the operating subsidiaries of MIGI, which operate
under an intercompany reinsurance pooling agreement.

The rating actions follow the recent announcement that Fosun
International Limited (Fosun) [HKEx stock code: 00656], together
with its subsidiaries, entered into a definitive agreement to
acquire MIGI for $8.65 per share in cash, representing an aggregate
transaction value of $433.0 million.  Upon the close of the
transaction, which is expected to occur during the second half of
2015, approximately $100.0 million in outstanding convertible debt
of MIGI is expected to be retired.  In addition, MIGI is expected
to be delisted and become an intermediate holding company owned by
Fosun.  The company will, however, continue operating under the
Meadowbrook brand name.  The ratings will remain under review
pending the completion of the transaction, which is subject to the
approval of MIGI's shareholders and customary regulatory
approvals.

The under review status reflects A.M. Best's view that MIGI will
benefit from a stronger balance sheet, enhanced liquidity, and
improved overall earnings prospects considering the elimination of
costs related to being a public company.  As a consequence, the
insurance subsidiaries of MIGI will benefit from lesser dividend
demands to service holding company debt.

While the transaction is considered to be a net positive for MIGI
and its subsidiaries, it does not necessarily enhance the execution
of the operating subsidiaries, particularly in respect to concerns
related to adverse prior year loss reserve development.
Furthermore, potential continuation of the positive earnings
reported by MIGI through the first three quarters of 2014 is not a
factor in this rating even as the company tries to further distance
itself from the unfavorable operating results in 2012 and 2013.
The reserve development and near-term operating performance remain
key rating factors going forward.

Fosun is a subsidiary of its ultimate parent holding company, Fosun
International Holdings Limited, which was founded in 1992 and is
headquartered in Shanghai.  Fosun is one of the largest privately
owned conglomerates in mainland China with over $50 billion in
total assets.  Currently, more than one-third of its assets are
invested in insurance businesses around the world.  Fosun is not
rated by A.M. Best.

The FSR of B++ (Good) and ICRs of "bbb" have been placed under
review with positive implications for the following subsidiaries of
Meadowbrook Insurance Group, Inc.:

    Star Insurance Company

    Century Surety Company
    
    Savers Property and Casualty Insurance Company

    ProCentury Insurance Company

    Williamsburg National Insurance Company

    Ameritrust Insurance Company


NEW YORK CITY OPERA: Two Suitors Prepare Bids for Jan. 27 Auction
-----------------------------------------------------------------
Jennifer Smith and Sara Randazzo, writing for The Wall Street
Journal, reported that a former member of the board of directors of
the New York City Opera and an architect are preparing to square
off in court next week at an auction for the opera's company name
and assets.

According to the report, one of the bidders is NYCO Renaissance
Ltd., a non-profit led by Roy Niederhoffer, a former City Opera
board member.  The other bidder, the Journal said, is Gene Kaufman,
an architect who has also expressed interest in restarting City
Opera but whose prior proposals have failed to win favor with the
defunct company’s board.

As previously reported by The Troubled Company Reporter, citing
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, a bankruptcy judge in New York approved procedures allowing
the City Opera to solicit bids for its assets to compete with
NYCO's offer of $10,000 in cash up front and a $500,000 note for
the opera's intellectual property, including the New York City
Opera trademark, and assets related to the City Opera Thrift Shop
in Manhattan.

The Journal said Mr. Kaufman subsequently submitted a bid, which
boosted the amount of cash at closing to $50,000 but otherwise
largely mirrored the provisions in the agreement between NYCO
Renaissance and the board.

                     About New York City Opera

New York City Opera, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D.N.Y. Case No. 13-13240) on Oct. 3, 2013.  Created 70
years ago, the company was once dubbed "the people's opera" by
Mayor Fiorello LaGuardia, and was a breeding ground for young
talent that included Beverly Sills and Placido Domingo.

The Opera estimated between $1 million and $10 million in both
assets and debt.

The petition was signed by George Steel, general manager and
artistic director.  Kenneth A. Rosen, Esq., at Lowenstein Sandler
LLP, serves as the opera's counsel.  Ewenstein Young & Roth LLP
serves as special counsel.


NII HOLDINGS: Bondholders Could Earn Up to $15MM in Stock Sale
--------------------------------------------------------------

Jacqueline Palank, writing for The Wall Street Journal, reported
that Aurelius Capital Management and Capital Research and
Management Co. stand to share in up to $15 million in fees if they
help NII Holdings Inc. $250 million in fresh capital to fund the
Latin American Nextel carrier's exit from Chapter 11.

According to the report, the potential payout, disclosed in papers
filed in bankruptcy court, is pledged to NII bondholders Aurelius
and Capital Research in exchange for their willingness to backstop
NII's $250 million rights offering -- that is, buy up any shares of
common stock that go unsold.

                         About NII Holdings

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

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.  NII Holdings disclosed
$1,216,071,340 in assets and $3,068,103,749 in liabilities as of
the Chapter 11 filing.

The U.S. Trustee for Region 2 on Sept. 29 appointed five creditors
of NII Holdings to serve on the official committee of unsecured
creditors.



PEMBROKE RESIDENCE: Faber to Auction Assets; Bid Deadline Feb. 10
-----------------------------------------------------------------
A. Farber & Partners Inc., court-appointed receiver of Pembroke
Residence Ltd. operating as Knights Inn Toronto, is undertaking a
court approved sales process in respect of the assets, undertaking
and property of Pembroke, which is inclusive of the land, building,
chattels, leaseholds and equipment used in the operation of the
Knights Inn Hotel located at 117 Pembroke Street in Toronto,
Ontario.  All interested parties should contact:

  Noah Litwack
  Tel: 416-496-3719
  Email: nlitwack@farberfinancial.com

Interested parties will have until 5:00 p.m. EST on Feb. 10, 2015,
to submit a binding offer or proposal.


PLATTSBURGH SUITES: Files for Chapter 11 with $32-Mil. Debt
-----------------------------------------------------------
Plattsburgh Suites, LLC, filed for Chapter 11 protection (Bankr.
N.D.N.Y. Case No. 15-10077) in Albany, New York, on Jan. 16, 2015,
disclosing $32.06 million in liabilities.

In its schedules of assets and liabilities, the Debtor disclosed:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $14,900,000
  B. Personal Property              $800,000
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $18,024,918
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $14,030,577
                                 -----------      -----------
        TOTAL                    $15,700,000      $32,055,494

The Debtor, a Single Asset Real Estate as defined in 11 U.S.C. Sec.
101(51B), is the owner of a 114-unit, 397-bedroom College
Apartments at 59 Broad Street, in Plattsburgh, New York.  The
property is valued at $14.9 million and is pledged as collateral to
a $17.02 million secured debt to Stabilis Fund II, LLC.

A copy of the schedules filed together with the petition is
available for free at:

       http://bankrupt.com/misc/nynb15-10077_SAL.pdf

According to the resolution authorizing the bankruptcy filing, a
special meeting of the majority of the Debtors was held on Jan. 16,
2015.  The financial condition of the Company was discussed, and
questions were answered as to why a bankruptcy Chapter 11 must be
filed by the Company to avoid enforcement, collection and seizure
actions by creditors.  Michael J. Uccellini, the Debtor's
authorized representative and majority member, signed the
bankruptcy petition.

The Estate of Walter F. Uccellini owns 93.9 percent of the shares
of the company.

The case is assigned to Judge Robert E. Littlefield Jr.

The deadline for filing claims by governmental entities is July 15,
2015.

The Debtor has tapped Richard L. Weisz, Esq., at Hodgson Russ LLP,
in Albany, New York, as counsel.


PORT AGGREGATES: Meeting of Creditors Set for Feb. 10
-----------------------------------------------------
The meeting of creditors of Port Aggregates, Inc. is set to be held
on Feb. 10, at 11:15 a.m., according to a filing with the U.S.
Bankruptcy Court for the Western District of Louisiana.

The meeting will be held at Room 341, 3rd Floor, 214 Jefferson St.,
Lafayette, Louisiana.

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 Port Aggregates

Port Aggregates, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. W.D. La. Case No. 14-51580) in Lafayette, Louisiana, on
Dec. 19, 2014.  The Debtor estimated $10 million to $50 million in
assets and debt.  

The Debtor is required to submit a Chapter 11 plan and disclosure
statement by April 20, 2015.

The case is assigned to Judge Robert Summerhays.  The Debtor has
tapped Louis M. Phillips, Esq., at Gordon, Arata, McCollam,
Duplantis & Eagan LLC, as counsel.

The petition was signed by Andrew L. Guinn, Sr., president.


RADIOSHACK CORP: Reportedly Wants to Sell Some Stores to Sprint
---------------------------------------------------------------
RadioShack Corp. has reportedly talked with Sprint Corporation to
sell out some of its stores, Ken Lancaster at WallStreet.org
reports.  According to WallStreet.org, people familiar with the
matter said that the Company wants to decrease its number of stores
to 2,000 or 3,000, from around 4,000, as a measure to deal with the
tough times.

There is barely any option available for the Company other than
filing for bankruptcy protection, unless it finds a deep-pocketed
lender or someone who could ride the ship, David Barry at
Usmarketsdaily.com relates, citing former Sears Canada CEO Mark
Cohen.  Mr. Cohen, the report states, said that the Company lacks
assortment of products that are differentiating or could produce
margins for it.

                     About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com/--

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

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

                           *     *     *

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

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

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

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


RECYCLE SOLUTIONS: Hires Dermo Realty as Real Estate Professional
-----------------------------------------------------------------
Recycle Solutions, Inc. asks for permission from the U.S.
Bankruptcy Court for the Western District of Tennessee to employ
Dermo Realty and CB Richard Ellis as real estate professional.

The Debtor intends to enter into an agreement with Dermo Realty and
CB Richard Ellis for the listing and sale of real property located
at 102 Connors Road, Villa Rica, Georgia.  The agreement will
provided for a sales commission of 7% of the total sale price and
payable at closing.

The Debtor will employ Tony Dermo, Jr. with Dermo Realty.  Dermo
will co-list the Property with CB Richard Ellis.

Tony Dermo, vice president of Dermo Realty, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Dermo can be reached at:

       Tony Dermo, Jr.
       DERMO REALTY
       801 Old Newnan Road, Ste C
       Carrollton, GA 30116
       Tel: (770) 834-9999
       E-mail: tonyjr@dermorealty.com

                       About Recycle Solutions

Recycle Solutions, Inc., a Tennessee-based company that makes $10
million a year from recycling plastic bottles, paper and cans in
the Southeast, sought Chapter 11 bankruptcy protection in its
home-town in Memphis (Bankr. W.D. Tenn. Case No. 14-31338) on Nov.
4, 2014, disclosing assets of $11.5 million against liabilities of
$6.4 million.

The case is assigned to Judge George W. Emerson Jr.  The Debtor is
represented by Steven N. Douglass, Esq., at Harris Shelton Hanover
Walsh, PLLC, in Memphis.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due March 4, 2015.

Recycle Solutions, founded in 2002 in Memphis, TN, is in the
business of recycling and reusing plastic, wood and packaging for
film rolls.  The company claims to be a pioneer in helping leading
corporations develop and implement innovative programs to reduce
their environmental impact.  James Downing, of Arlington,
Tennessee, founder and president, owns 100% of the stock.

The U.S. Trustee for Region 8 appointed three creditors to serve
on
the official committee of unsecured creditors.


REICHHOLD HOLDINGS: Seeks More Time to Propose Chapter 11 Plan
--------------------------------------------------------------
Reichhold Holdings US, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware to extend their exclusive plan filing
period through and including April 28, 2015, and their exclusive
solicitation period through and including June 29, 2015.

According to the Debtors, the extension will provide them and their
advisors the opportunity to fully negotiate, confirm and implement
the terms of a Chapter 11 liquidating plan for the distribution of
assets to creditors.

A hearing on the extension request is scheduled for Jan. 27, 2015,
at 10:30 a.m.  Objections are due Jan. 20.

                         About Reichhold

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

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

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

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

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

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

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

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

The cases are assigned to Judge Mary F. Walrath.

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

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


REVEL AC: Judge Approves $21-Mil. Increased Financing
-----------------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that
U.S. Bankruptcy Judge Gloria M. Burns in Camden, New Jersey, signed
an order increasing the interim bankruptcy financing package
allowing Revel AC to fund its settlement with Atlantic City.

According to the Journal, the financing package will include an
additional $21 million from Wells Fargo NA, $19 million of which
will be combined with $7 million in cash on hand to fund the $26
million settlement.  The remaining $2 million in financing is
intended to provide enough cash to allow Revel to pay its operating
expenses until Jan. 8, the Journal said, citing court papers.

                          About Revel AC

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

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

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

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

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

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

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



REVEL AC: Judge Approves $26 Million Tax Settlement
---------------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that
U.S. Bankruptcy Judge Gloria M. Burns in Camden, New Jersey,
approved a $26 million tax settlement between Atlantic City, N.J.,
and the closed Revel Casino Hotel.

According to the report, the settlement, which saves the boardwalk
resort more than $7 million on unpaid property taxes and penalties
that exceed $33 million, comes after the city failed to attract any
bids for a tax lien against Revel at a sale earlier this month.

                          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.



RIDGEFIELD CHRISTIAN: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------------------
Ridgefield Christian School, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Ark. Case No. 15-10029) on Jan. 5, 2015,
listing $1.69 million in total assets and $2.10 million in total
liabilities.  The petition was signed by Doug Imrie, school board
vice president.  James F. Dowden, Esq., at James F. Downden, P.A.,
serves as the Debtor's bankruptcy counsel.  Judge Audrey R. Evans
presides over the case.

Region 8 News relates that the Debtor owes Gym Masters of Searcy
$4,500 for the construction of the gym's floor.

Ridgefield Christian School, Inc. --
http://www.ridgefieldchristian.org/-- is a private school in
Jonesboro, Arkansas.


SAPPHIRE DEVELOPMENT: Abstention Is No Surrogate to Dismiss
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Michael P. Shea from
Hartford, Connecticut, ruled that a bankruptcy judge can't abstain
in a Chapter 11 case as an alternative to dismissing or lifting the
automatic stay.

Bloomberg related that a creditor with a judgment filed a motion to
dismiss the Chapter 11 case, lift the stay to permit a suit to
continue, or abstain under Section 305 of the Bankruptcy Code.
Without ruling on dismissal or lifting of the stay, the bankruptcy
court abstained, saying it was in the best interests of the estate
and creditors.

According to the report, seeing the fact findings as "clearly
erroneous," Judge Shea said the bankruptcy judge failed to consider
the best interests of other creditors.  Judge Shea said that
abstention can't be based "solely or even primarily on a finding of
bad faith."

The case is Sapphire Development LLC v. McKay (In re Sapphire
Development LLC), 13-01680, U.S. District Court, District of
Connecticut (Hartford).


SIGA TECHNOLOGIES: Gets Court Approval to Pay off GECC Claim
------------------------------------------------------------
SIGA Technologies, Inc. received approval from U.S. Bankruptcy
Judge Sean Lane to pay off the claim of General Electric Capital
Corp.

The claim stemmed from SIGA Technologies' agreement with a group of
lenders led by GECC, which provided a $5 million loan to the
company.  The loan is secured by a "first-priority" security
interest in certain assets owned by the company.

If the loan is paid this month, SIGA Technologies' outstanding
obligations under the agreement will be approximately $2 million,
according to court filings.

                  About SIGA Technologies, Inc.

Publicly held SIGA Technologies, Inc., (Nasdaq:SIGA) with
headquarters in Madison Avenue, New York, is a
biotech/pharmaceutical company that specializes in the development
and commercialization of solutions for serious unmet medical needs
and biothreats.  SIGA's lead product is Tecovirimat, also known as
ST-246, an orally administered antiviral drug that targets
orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

The Debtor disclosed total assets of $132 million and $7.95 million
in liabilities as of the Chapter 11 filing.


SISTER 2 SISTER: To Stop Publication of Magazine
------------------------------------------------
Sister 2 Sister publisher and founder Jamie Foster Brown has
announced that they are ceasing publication of the magazine
due to the harsh economy and plan to focus on our website and other
digital opportunities.

Jazmine Denise Rogers at Madame Noire relates that it is unclear
how the magazine will handle clients with active accounts, but Ms.
Brown said that these issues are being considered.  "For those with
paid subscriptions, we ask for your understanding during this time
as we work on the legal side of this complicated process, and we
appreciate your patience," the report quoted Ms. Brown as saying.

According to Target Market News, the Company will continue
operation of its profitable Web site, s2smagazine.com, which
features daily news coverage and updates, and claims an audience of
1.8 million unique visitors per month, and the support of national
blue chip advertisers.

Headquartered in Bowie, Maryland, Sister 2 Sister, Inc., is a
national entertainment magazine focused on the interests of black
women.  It filed for Chapter 11 bankruptcy protection (Bankr. D.
Md. Case No. 14-27944) on Nov. 21, 2014, listing total assets of
$86,792 and total liabilities of $1.66 million.  The petition was
signed by Jameseeta Brown, majority shareholder.  Douglas N.
Gottron, Esq., at Morris Palerm, LLC, serves as the Company's
bankruptcy counsel.  Judge Paul Mannes presides over the case.


SRI SRI LLC: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Sri Sri LLC
           dba Kavi, Inc
        54 E. Grand Ave
        Fox Lake, IL 60020

Case No.: 15-01628

Chapter 11 Petition Date: January 19, 2015

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

Judge: Hon. Carol A. Doyle

Debtor's Counsel: Robert J Adams, Esq.
                  ROBERT J ADAMS & ASSOCIATES
                  901 W Jackson Suite 202
                  Chicago, IL 60607
                  Tel: 312-346-0100
                  Email: bankruptcy714@gmail.com

Total Assets: $640,000

Total Liabilities: $1.5 million

The petition was signed by Vinesh Virani, COO.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/ilnb15-01628.pdf


STOCKTON, CA: Can Leave Bankruptcy Despite Appeal
-------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that U.S.
Bankruptcy Judge Christopher Klein in Sacramento ruled that forcing
Stockton, Calif., to remain in bankruptcy while an unhappy
bondholder group protests the city's plan to cut millions of
dollars would unfairly delay payments to the city's retirees.

According to the report, Judge Klein ruled that mutual-fund giant
Franklin Templeton Investments shouldn't be allowed to hold up the
city's departure from bankruptcy protection.

As previously reported by The Troubled Company Reporter, Franklin
appealed Judge Klein's decision allowing the city to exit
bankruptcy under a plan that pays Franklin-managed funds a fraction
of the $37 million owed them but makes full payments for the city's
pensions.

Franklin's lawyers said Judge Klein made "several fundamental
errors of law" on Oct. 30 when he confirmed the plan for the city
of about 300,000 residents.  Throughout the case, Franklin lawyers
said they provided a "wealth of evidence establishing that the city
in fact can pay far more to Franklin" than its final offer of
$4,052,000.

                     About Stockton, Calif.

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

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

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

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

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

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

                           *     *     *

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

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

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


SUNTECH AMERICA: Can Employ Upshot as Claims & Noticing Agent
-------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware authorized Suntech America, Inc., and Suntech
Arizona, Inc., to employ UpShot Services LLC as claims and noticing
agent to, among other things:

   (i) distribute required notices to parties-in-interest;

  (ii) receive, maintain, docket and otherwise administer the
       proofs of claim filed in the Chapter 11 cases, and

(iii) provide other administrative services as required by the
       Debtors that would fall within the purview of services to
       be provided by the Office of the Clerk of Court.

The Debtor will pay UpShot for its consulting services based on
this pricing schedule:

                                     Hourly Rate
                                     -----------
             Clerical                    $25
             Case Assistant              $55
             IT Manager                  $85
             Case Consultant            $125
             Case Director              $170

For its noticing services, the firm will waive fees for e-mail
noticing and $0.08 per image for facsimile noticing.  For the
preparation of schedules and SOFAs, and solicitation balloting and
tabulation of votes for the plan, the firm will charge at its
discounted hourly rates.  The firm's call center operator will
charge $45 per hour.  For the case Web site creation and related
updates, the firm will also charge at its discounted hourly rates.

Prior to the Petition Date, the Debtors provided UpShot a retainer
in the amount of $10,000.

                       About Suntech America

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the case.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated their assets at between $100 million and $500
million, and their debts at between $100 million and $500 million.

Headquartered in San Francisco, California, Suntech America, aka
Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.


SUNTECH AMERICA: Court Issues Joint Administration Order
--------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware issued an order authorizing joint
administration of the Chapter 11 case of Suntech America, Inc., and
Suntech Arizona, Inc., under Case No. 15-10054.

The Debtors are 100% owned by Suntech ES Holdings Inc., as such,
the Debtors are "affiliates" as that term is defined in 11 U.S.C.
Sec. 101(2) of the Bankruptcy Code.

                       About Suntech America

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the case.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated their assets at between $100 million and $500
million, and their debts at between $100 million and $500 million.

Headquartered in San Francisco, California, Suntech America, aka
Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.


SUNTECH AMERICA: Section 341(a) Meeting Scheduled for Feb. 9
------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Suntech America
Inc., will be held on Feb. 9, 2015, at 10:00 a.m. at J. Caleb Boggs
Federal Building, 844 King St., Room 5209, in Wilmington,
Delaware.

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

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

                       About Suntech America

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the cases.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated assets of $100 million to $500 million and
debts of $100 million to $500 million.

Headquartered in San Francisco, California, Suntech America, aka
Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.


SUNTECH AMERICA: Seeks to Sell Arizona PV Manufacturing Equipment
-----------------------------------------------------------------
Suntech America, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to sell Suntech
Arizona, Inc.'s PV module manufacturing equipment and office
furnishings located at the Goodyear, Arizona facility, to Vasari
Energy North America, Inc., for $900,000.

In the event the Debtors receive a competing offer from an
alternate purchase and Vasari Energy does not submit an overvid and
consummate the sale, the Debtors are also seeking court authority
to consummate an alternate transaction with an alternate
purchaser.

Closing of the sale will occur on the earlier of (i) Feb. 17, 2015,
at 10:00 a.m. (local time) or (ii) in the event that the Debtors
receive a Competing Offer, the date that the Purchaser pays the
amount of the Competing Offer plus the Overbid to Suntech Arizona.

Suntech Arizona believes that the Sale is in the best interests of
the estate and stakeholders because, among other things, it (i)
assists the Debtors in monetizing assets that the Debtors are not
using, and (ii) will allow Suntech Arizona to exit the Goodyear
Facility and thus eliminate the administrative lease obligations
associated with maintaining the lease at the facility.

A hearing to consider approval of the proposed bidding procedures
is scheduled for Feb. 9, 2015, at 2:00 p.m. (ET).  Objections are
due Feb. 2.

                       About Suntech America

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the case.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated their assets at between $100 million and $500
million, and their debts at between $100 million and $500 million.

Headquartered in San Francisco, California, Suntech America, aka
Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.


TECHNIPLAS LLC: Moody's Assigns B2 Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service, assigned a B2 Corporate Family Rating
and a B2-PD Probability of Default Rating to Techniplas, LLC
(Techniplas). Concurrently, Moody's assigned a provisional (P)B3
Rating (LGD4, 63%) to the planned EUR135 million senior secured
notes to be issued by Techniplas B.V. The outlook on the ratings is
stable. This is the first time that Moody's has rated Techniplas.

Moody's issues provisional ratings in advance of the final sale of
securities and these reflect the rating agency's credit opinion
regarding the transaction only. Upon a conclusive review of the
final documentation, Moody's will endeavor to assign definitive
ratings to the instruments mentioned above. A definitive rating may
differ from a provisional rating.

Ratings Rationale

The Ratings are supported by (1) the company's diversified revenue
base generated by entities which are operated independently and
with a wide range of different products, (2) long standing customer
relationship with auto OEMs and industrial companies, (3) a clear
focus on highly engineered plastic components and systems, (4) the
strengthened geographical diversification resulting from the
acquisition of Switzerland-based Weidplas, and (5) the expectation
of positive free cash flow generation going forward, despite the
ongoing payment of management fees to Techniplas' owner. At the
same time, the ratings are constrained by (1) the risk related to
the planned turn-around of Weidplas, albeit mitigated by a solid
order book and state of the art production facilities as a result
of high capex spending during the last few years, (2) expected and
ongoing margin pressure from the Auto OEMs, (3) relatively high
initial pro-forma leverage of 6.1x (Moody's estimate for 2014)
taking into account the cyclicality of the Auto industry, the
integration risks, and the small size of Techniplas vis-à-vis
other auto suppliers with relatively limited pricing power, and (4)
a management strategy focused on external growth with limited track
record under the current setup.

The group is split into three different entities which are largely
run separately from each other without any material intra-group
operations. This reflects group management's strategy to avoid
major integration risk. While this strategy initially limits
synergy potential to a minimum, it reduces the need for
management's attention to implement the integration and allows to
focus on the business. While businesses are focused on the
production of plastic products, the product range as well as the
customer relationships are complementary so that the businesses are
not competing against each other. In total 54% of revenues are
generated with several automotive OEMs, led by premium
manufacturers Daimler and BMW. Tier one suppliers to the automotive
industry and industrial clients represent 20% of revenues, each,
followed by truck manufacturers (6%).

Despite its limited scale (approximately USD416 million pro-forma
revenues generated in 2013), Techniplas has a good track record of
long-standing customer relationships. The company has been dealing
with most of the major auto OEMs and with a couple of industrial
clients for many years. In some cases the relationship dates back
to the 1980's or 1990's. Further to the diversification by
customers, Techniplas benefits from its presence on several
platforms of each auto manufacturer with an estimated average
lifetime until 2018 and beyond.

Techniplas is a niche player with a clear focus on highly
engineered plastic components and systems. In spite of its limited
scale the group is able to build on comprehensive technological
expertise and capabilities along the whole value chain of
manufacturing plastic components. Its technologically advanced
content is also reflected by the relatively high profitability of
its US operations, with historical EBITA margins of around 10%.

One of the drivers for Techniplas to combine its operations with
Weidplas was Techniplas' initial primary focus on North America
alone. The geographical footprint materially improved as a result
of the acquisition. On a pro-forma basis Techniplas generated 48%
of its 2013 revenues on the US market, 38% in Europe, 7% in Brasil
and 7% elsewhere. However, the position on the Asian growth markets
remains weak for the time being.

In spite of its technological strength and high capex spending,
Weidplas (which on a proforma basis accounts for approximately 56%
of group turnover) has been loss making over the last few years.
The rating incorporates the expectation that Weidplas can be
turned-around within the next 12 to 18 months with an expectation
that its profitability will be similar to that of DMP and
Nyloncraft, Techniplas' two North American subsidiaries. This
expectation is supported by orders at hand covering 99% of
Weidplas' revenues expected for 2015 (84% for 2016, 82% for 2017),
ramp-up cost and other cost items which have already been booked in
2013/14 and should not reoccur in the future years, and materially
strengthened production base as result of historically high capex
spending. However, given that Weidplas accounts for approximately
half of the group's revenue, it is key for the group's credit
strength that this turn-around will be achieved.

Moody's note that around CHF37 million personnel and other expenses
are denominated in Swiss Francs which will weigh negatively on
expected performance given recent f/x movements. However, if the
company performs according its business plan this would still be in
line with the B2 rating category.

While Techniplas does not plan to pay dividends going forward, the
owners will charge the company with a management fee, which will
weigh negatively on Techniplas' operating profits and operating
cash flows. During the last three years management fee varied
between 1.9% and 3.4% of net sales. Moody's understand that such
payments shall not exceed 1% of revenues in future.

- Structural Considerations

In its loss given default assessment Moody's gives the highest rank
to $12 million of the US trade payables reflecting the legal
priority of these claims. On rank two the rating agency positions
the CHF15 million Revolving Credit Facility for the European
operations and the $20 million revolver available to the US
entities given its strong collateral status and the trade payables
of the European entities amounting to $16 million. The (P)B3 rating
assigned to the EUR135 million (approximately USD160 million) bond
issuance by Techniplas B.V. (Netherlands), guaranteed by certain US
entities (reflecting 50.3% of consolidated net sales, 56.7% of
consolidated company adjusted EBITDA and 37.4% of consolidated
total assets -- all pro-forma for the twelve months ended 30
September 2014) and benefiting from intercompany guarantees (38.5%
of consolidated net sales, 23.2% of consolidated company adjusted
EBITDA and 54.3% of consolidated total assets) mirrors its position
on rank three, together with the group's obligation to the seller
of the acquired Weidmann operations, estimated to amount USD12.1
million, lease rejection claims of USD6 million and the remaining
amount of USD9 million of US trade payables.

- Outlook

The stable outlook incorporates Moody's expectation that Techniplas
will be able to swiftly digest the acquisition as well as the
turnaround of Weidplas. While the financial statements of 2014 will
be impacted by the transaction and its financing, the rating agency
expects the group to show gradually improving profitability and a
strengthening of free cash flow generation from 2015 onwards. In
line with the company's financial policy the rating incorporates
the expectation that free cash flow generated will be largely used
for debt reduction from 2015 onwards.

- What Could Change The Rating Up/Down

Moody's would consider upgrading Techniplas in case the company is
able to reduce leverage sustainably towards 4.0x debt / EBITDA
(6.1x Moody's estimate for 2014), to improve interest cover above
1.5x EBITA / interest expense (0.8x) and to return to a positive
free cash flow resulting in FCF/debt in the mid single digits
(-21%). Negative pressure on the rating would build if the
turnaround of Weidplas's performance would fail leading to leverage
materially exceeding 5.0x debt / EBITDA, interest cover below 1.25x
EBITA / interest expense or by free cash flow turning negative,
and/or if the headroom under its covenants would deteriorate
further, leading to a deterioration of the liquidity position of
the group. While the agency expect Techniplas to achieve these
metrics by year-end 2015, only, rating pressure could build on
indications that these metrics may no longer be achievable.

The principal methodology used in these ratings was Global
Automotive Supplier Industry published in May 2013. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Techniplas, LLC, formerly known as Dickten Masch Plastics, LLC
(Techniplas Group), headquartered in Nashotah, Wisconsin USA, is a
privately held producer of technical plastic components for the
automotive, transportation and electrical industry. Techniplas B.V.
is a subsidiary of Techniplas, LLC, established for the purpose of
issuing the notes. Techniplas Group is specialised in
thermo-plastic and thermo-set moulding and has a expertise in metal
to plastic conversion, light weighting and tool design. Techniplas
employed more than 1,200 people in five production plants in North
America and reported a consolidated revenue of $ 201 million for
2013. In May 2014, Techniplas acquired the automotive & industrial
business division of the Swiss-based company Weidmann International
Corporation (WICOR Group) and rebranded it to WEIDPLAS. The
carved-out division shows a revenue of approximately $ 224 million
for the fiscal year 2013 and employed around 900 people in five
production facilities in Europe, USA, China and Brazil. The
combined entity's revenue accounts to $ 416 million on a pro-forma
basis for the year 2013.


[*] ABI Panel Says Rein In Quick Sales at Low Values
----------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that an American Bankruptcy Institute commission
recommended changing the laws and procedures governing sales and
plan approval to ensure that companies aren't snapped up in Chapter
11 at artificially low values.

According to Bloomberg, the ABI commission's recommendations on
sales fall into two categories: (1) sales in advance of a plan
shouldn't be approved without some of the protections lower-ranked
creditors would have in the plan-approval process, aside from
voting; and (2) the commission latched onto the notion of
"redemption option value" to ensure that junior creditors have a
chance to realize some value if the worth of the business increases
within three years after a sale or plan approval.


[*] Bankruptcy Code Forces Rush of Empty Stores
-----------------------------------------------
Stephen J. Lubben, writing for The New York Times' DealBook,
reported that the 2005 amendments to the Bankruptcy Code has
greatly shortened the time for assuming or rejecting commercial
leases, so the debtor has to enter Chapter 11 knowing which stores
it wants to keep and which ones it wants to reject, which means an
abrupt increase in empty storefronts.

According to Mr. Lubben, who has worked in the retail cases of
Levitz Furniture, Bradless, Circuit City and Kmart, the post-2005
reality is further buttressed by provisions in debtor-in-possession
loans that tie working capital to the deadline for assumption or
rejection of leases.


[*] Commercial Bankruptcy Filings Down 22% in 2014
--------------------------------------------------
Total bankruptcy filings totaled 910,090 nationwide for calendar
year 2014 (Jan. 1-Dec. 31), a 12 percent decrease from the
1,032,572 total filings during the same period a year ago,
according to data provided by Epiq Systems, Inc.  The 875,635 total
noncommercial filings during calendar year 2014 represented an 11
percent drop from the noncommercial filing total of 988,489 during
calendar year 2013.

Total commercial filings during calendar year 2014 (Jan. 1-Dec. 31)
were 34,455, a 22 percent drop from the 44,083 filings during the
same period in 2013.

"Annual total filings fell for the fifth consecutive year and
dipped under 1 million for the first time since 2007," said ABI
Executive Director Samuel J. Gerdano. "Sustained low interest rates
and high costs to file continue to turn consumers and businesses
away from the Bankruptcy Code for a financial fresh start."

To provide distressed companies better access to the rehabilitative
powers of the Bankruptcy Code, the ABI Commission to Study the
Reform of Chapter 11 released its Final Report in December
containing recommendations for modernizing chapter 11 business
reorganizations. The Commission's Final Report recommends
improvements to the Code to account for today’s evolving
corporate climate and to encourage debtors to file before they have
to liquidate.

The 63,090 total bankruptcy filings for the month of December
represented a 5 percent decrease compared to the 66,530 filings in
December 2013. The 60,625 total noncommercial filings for December
represented a 5 percent drop from the December 2013 noncommercial
filing total of 63,621. Total commercial filings for December 2014
were 2,465, representing a 15 percent decrease from the 2,909
filings during the same period in 2013. Commercial chapter 11
filings registered a 12 percent drop as the 397 chapter 11 filings
in December 2013 fell to 349 in December 2014. Average total
filings per day in December 2014 were 2,035, a 5 percent decrease
from the 2,146 total daily filings in December 2013.

The average nationwide per capita bankruptcy filing rate for
calendar year 2014 (Jan. 1-December 31) decreased to 2.93 (total
filings per 1,000 per population) from the 3.33 rate during
calendar year 2013. States with the highest per capita filing rate
(total filings per 1,000 population) through 2014 were:

Tennessee (6.10)
Alabama (5.28)
Georgia (5.24)
Utah (4.85)
Illinois (4.66)

ABI has partnered with Epiq Systems, Inc. in order to provide the
most current bankruptcy filing data for analysts, researchers and
members of the news media. Epiq Systems is a leading provider of
managed technology for the global legal profession.


[*] Greenberg Glusker Bags M&A "Restructuring of the Year" Award
----------------------------------------------------------------
Greenberg Glusker on Jan. 20 disclosed that it will receive an M&A
Turnaround Award "Restructuring of the Year" in the category of
deals between $1 billion to $3 billion for its work surrounding the
sale of the Los Angeles Clippers from the Sterling Family Trust to
Steve Ballmer.  M&A Advisor recognizes top deals, firms and
professionals.  This year, over 250 company nominations were judged
by an independent jury of industry experts.

Following a call over Memorial Day weekend from Los Angeles
Clippers co-owner Shelly Sterling, Greenberg Glusker attorneys
fielded calls from over 20 bidders interested in purchasing the
team.  Parallel negotiations with three bidders took place before
securing the final and historic $2 billion sale of the team to
former Microsoft CEO Steve Ballmer.  The deal was consummated in
record time -- less than a week and before the National Basketball
Association's scheduled hearing with Donald Sterling to likely
seize the team through a forced sale.

"We took a full-court press approach to the sale of the team," said
Bob Baradaran, managing partner of Greenberg Glusker and lead
attorney on the sale transaction.  "In order to secure the historic
$2 billion sales price, we were able to leverage expertise from
many practices within the Firm -- corporate, real estate, tax,
intellectual property, employment, trusts and estates, and
litigation," which streamlined the sale process.

"The award winners represent the best of the distressed investing
and reorganization industry in 2014 and earned these honors by
standing out in a group of very impressive candidates," said
David Fergusson, Co-CEO and President of The M&A Advisor.  "From
lower middle market to multi-billion dollar deals, we have
recognized the leading transactions, firms and individuals that
represent the highest levels of performance."

Pierce O'Donnell, who led the trial team that paved the way for the
Clippers to be sold, will accept the award on behalf of the Firm at
the gala scheduled for Monday, February 23 at the Colony Hotel in
Palm Beach, Florida.  For more information, visit
http://www.maadvisor.com

                    About Greenberg Glusker

Greenberg Glusker -- http://www.GreenbergGlusker.com-- maximizes
client potential by providing strategic business and legal counsel
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environmental, corporate, family wealth planning, taxation,
intellectual property, employment and litigation.


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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.

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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.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

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