TCR_Public/150129.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, January 29, 2015, Vol. 19, No. 29

                            Headlines

AEREO INC: UST Balks at Pre-Approval of Brown Rudnick's Fee
ALEXANDRA TRUST: Bailey Opposes Payment of Slim's Previous Fees
ALEXANDRA TRUST: Bailey Says Atty. Application Still Lacking
ALEXANDRA TRUST: Bailey Wants Ch. 11 Trustee Bid Resolved First
ALLIED SECURITY: S&P Hikes Rating on $701MM 1st Lien Loan to 'B+'

AMBASSADOR INSURANCE: Claims Bar Date Ruling Reversed
AMERICAN AIRLINES: Reports $2.9-Bil. Net Profit in 4th Qtr. 2014
AMERICAN MEDIA: Issues $39 Million Senior Secured Notes
ARCHDIOCESE OF ST. PAUL: Has OK to Continue Insurance Programs
ASPEN GROUP: Cooperman Reports Warrants to Buy 4MM Shares

ASPEN GROUP: Sophrosyne Reports 9.6% Stake as of Jan. 26
ATLANTIC CITY, NJ: S&P Cuts GO Debt Rating to BB, on Watch Negative
AUTOCANADA INC: S&P Lowers Sr. Unsecured Debt Rating to 'B'
AUXILIUM PHARMACEUTICALS: Invesco Has 2.6% Stake as of Dec. 31
BINDER & BINDER: Wants to Pay $317,500 Critical Vendors Claims

BIOLITEC INC: Wins 2-Year Injunction Against Biolitec AG, Biomed
CAESARS ENTERTAINMENT: Analyst Says Delaware Case Could Be Lengthy
CAESARS ENTERTAINMENT: Wilmington Trust Named Successor Trustee
CAREFREE WILLOWS: Says AG's Interests Adequately Protected
CENTRE PROPERTIES: Wants to Reorganize Two Area Strip Centers

CHOU TUNG WANG: Cal. Judge Clarifies Ruling in China Export Suit
CITGO HOLDCO: Fitch Assigns 'B-' IDR; Outlook Stable
CLOUDEEVA INC: Digital4nx Group OK'd as Forensic Computer Advisor
COUTURE HOTEL: Inks Deal to Settle Armed Forces Bank Claims
COUTURE HOTEL: May Hold Auction for Las Vegas Hotels Feb. 6

DAHL'S INC: Hy-Vee Eyeing Pharmacy Assets of Three Stores
DAHL'S INC: Kum & Go Bids for Store in West Des Moines
DELUXE CORP: S&P Affirms 'BB' CCR; Outlook Remains Stable
DENDREON CORP: Extends Bid Deadline to Jan. 29
DENDREON CORP: To Move Deadline for Submission of Bids to Jan. 29

DUNE ENERGY: Eos Tender Offer Further Extended Until Jan. 30
EPAZZ INC: KBM Worldwide Reports 9.9% Stake as of Jan. 23
EXELIXIS INC: BlackRock Reports 7.4% Stake as of Dec. 31
FANNIE MAE & FREDDIE MAC: Judge Sweeney Denies Gov't Bid for Stay
FOUNDATION HEALTHCARE: Releases Preliminary Results for FY 2014

FOURTH QUARTER PROPERTIES 86: Section 341 Meeting Set for Feb. 25
GELTECH SOLUTIONS: Amends Employment Agreement with Acting CEO
GRIDWAY ENERGY: Judge Extends Deadline to Remove Suits to April 6
GT ADVANCED: Shareholders Denied Role in Bankruptcy
HEI INC: Creditors Committee Proposes Fafinski as Counsel

HEI INC: Files Schedules of Assets and Liabilities
HUSH HOMES: Ontario Court Appoints Fuller Landau as Monitor
IMAGEWARE SYSTEMS: Amends $12 Million Securities Prospectus
IMPORTANT PROPERTIES: Case Summary & 3 Top Unsecured Creditors
INTERMETRO COMMUNICATIONS: Charles Levy Has 5% Stake as of Dec. 31

ISTAR FINANCIAL: Morgan Stanley Held 5% Equity Stake at Jan. 16
KOPPERS HOLDINGS: Moody's Affirms B3 Corporate Family Rating
LDK SOLAR: Bankr. Case Reassigned to Judge L. Silverstein
LEMINGTON HOME: 3rd Cir. Lifts Punitive Damages Imposed on Board
LONGVIEW POWER: Amends Plan to Include Insurer, Contractors Deal

LORILLARD INC: BlackRock Reports 7.4% Stake as of Dec. 31
MANJALI INC: Case Summary & 11 Largest Unsecured Creditors
MEADOWLARK PLAZA: Case Summary & 9 Largest Unsecured Creditors
MEDITERRANEAN MEZZA: Dispute Over Rent Leads to Chapter 11 Filing
MINE SHIELD: Case Summary & 20 Largest Unsecured Creditors

MOTORS LIQUIDATION: Circuit Orders Partial Judgment for Committee
NAPLES HEPHROLOGY: Case Summary & 7 Largest Unsecured Creditors
NATIONAL CINEMEDIA: Grants Restricted Stock Awards to Executives
NII HOLDINGS: AT&T Requires Auction, Sale Hearing in March
NII HOLDINGS: AT&T to Combine Nextel Mexico With Iusacell

NNN 1818 MARKET: Court Approves Joint Administration
NNN 1818 MARKET: Wants Schedules Filing Deadline Moved to Feb. 3
NPS PHARMACEUTICALS: Shire Amends Tender Offer Statement
OCWEN FINANCIAL: Moody's Affirms B3 CFR & Caa3 Sr. Debt Rating
PHILBRICK D K RANCH: Voluntary Chapter 11 Case Summary

PHOENIX PAYMENT: Gets Court Nod to Use Bancorp's Cash Collateral
PLATFORM SPECIALTY: Moody's Affirms B1 Corporate Family Rating
RADIOSHACK CORP: Store Officials Warn of Closures at Two Locations
REVEL AC: Feb. 11 Hearing on Request for Exclusivity Extension
ROYALTY PARTNERS: Case Summary & 17 Largest Unsecured Creditors

SAMUEL WYLY: Ex-Wife Wants Half of Stock Hidden During Divorce
SCRUB ISLAND: Court Won't Stay Implementation of Exit Plan
SEGREST SALTWATER: Case Summary & 16 Largest Unsecured Creditors
SEQUENOM INC: BlackRock Reports 7.5% Stake as of Dec. 31
SILVERADO STREET: Creditors' Meeting Continued to Feb. 3

SKYMALL LLC: Blames Financial Problems on Evolving Retail Industry
ST. SIMONS LODGING: Proposes Amanda Williams as Co-Counsel
ST. SIMONS LODGING: Proposes Schreeder Wheeler as Counsel
ST. SIMONS LODGING: Proposes to Use Hotel Income to Pay Expenses
ST. SIMONS LODGING: Section 341(a) Meeting Set for Feb. 18

STATE FISH: Los Angeles Distributor Files for Bankruptcy
SUN BANCORP: Incurs $2.8 Million Net Loss in Fourth Quarter
TARGET CANADA: Seeks Creditor Protection in Ontario; Monitor Named
TENET HEALTHCARE: BlackRock Reports 7.1% Stake as of Dec. 31
TOWN HOLDING: Case Summary & 3 Largest Unsecured Creditors

US COAL: Has Authority to Auction JAD Debtors' Assets
VUZIX CORP: To List Shares on NASDAQ Capital Market
WESTCHESTER COUNTY: S&P Affirms BB+ Rating on Notes Due 2045
WET SEAL: Has Interim Approval of Equity Trading Protocol
YINGDE GASES: Moody's Lowers Corporate Family Rating to Ba3

[*] Carl Marks Advisors Announces Three Promotions
[*] Chapter 11 Bankruptcy Filings Drop 19% in Calendar Year 2014
[*] Corporate Ch 11 Filings Remain Low in 2014, Report Says
[*] Large Private Equity Firms Flex Remediation Muscles, Fitch Says
[^] Recent Small-Dollar & Individual Chapter 11 Filings


                            *********

AEREO INC: UST Balks at Pre-Approval of Brown Rudnick's Fee
-----------------------------------------------------------
The U.S. Trustee filed a limited objection to Aereo, Inc.'s
application to employ Brown Rudnick LLP as bankruptcy counsel.

The U.S. Trustee said that it does not object to the structure of
the proposed compensation, rather, it objects to that part of the
application which seeks the pre-approval of Brown Rudnick's
proposed transaction fee under Section 328(a) because it does not
carve out the U.S. Trustee's right to review that fee under the
reasonableness standard of review.

The compensation structure negotiated by the Debtor and Brown
Rudnick consists of two components: a lodestar fee at a reduced
hourly rate plus a transaction fee based on 2.0% of the aggregate
consideration realized by the sale of the Debtor's assets or
recapitalization.  The total fees that Brown Rudnick may earn
under the arrangement is subject to a cap of 125% of what Brown
Rudnick would have charged the Debtor at its customary hourly
rates, starting as of the date of its engagement.

The application described each of the metrics as follows:

   a) Lodestar Fee at Reduced Hourly Rates: Brown Rudnick will
charge the Debtor 75% of generally its customary hourly rates for
services.  As of the Petition Date, Brown Rudnick's usual rates,
which are adjusted from time to time, range from $700 to $1,240 per
hour for partners, $415 to $730 per hour for associates and $285 to
$340 per hour for paraprofessionals.  Brown Rudnick has charged the
debtor at this reduced rate of Lodestar Fees for work done from the
Engagement Date to the Petition Date in preparation of filing the
Chapter 11 petition and will continue to charge the reduced rate of
Lodestar Fees during the case.

   b) Partial Contingency Fee: In addition, but subject to the
overall cap, Brown Rudnick will earn a contingency fee equal to
2.0% of the aggregate consideration realized by the Debtor from the
sale of its assets, recapitalization or other similar transaction.

   c) Cap: The aggregate fees earned by Brown Rudnick from the
Lodestar Fee at Reduced Hourly Rates and Partial Contingency Fee
may not exceed, in total, the Lodestar Fees that would have been
paid at Brown Rudnick's usual hourly rates multiplied by 1.25.

                          The Application

As reported in the Troubled Company Reporter on Nov. 25, 2014,
the Debtor is seeking approval to employ Brown Rudnick under a
general retainer as its attorney to perform the legal services that
will be necessary during the Chapter 11 case.

Prior to the Chapter 11 Petition Date, commencing on Oct. 29,
2014, the Debtor engaged Brown Rudnick to provide advice in
connection with insolvency and related strategies and planning and
the preparation for filing of this Chapter 11 case.

The Debtor believes that Brown Rudnick is a "disinterested
person," as that term is defined in Section 101(14) of the
Bankruptcy Code, as modified by Section 1107(b) thereof.

Brown Rudnick will charge the Debtor 75% of generally its
customary hourly rates for services as are in effect from time to
time, as charged to bankruptcy and non-bankruptcy clients --
Lodestar Fees.  As of the Petition Date, Brown Rudnick's usual
rates, which are adjusted from time to time, range from $700 to
$1,240 per hour for partners, $415 to $730 per hour for associates
and $285 to $340 per hour for paraprofessionals.  In addition, but
subject to the overall cap, Brown Rudnick will earn a contingency
fee -- Partial Contingency Fee -- equal to 2.0% of the aggregate
consideration realized by the Debtor from the sale of its assets,
recapitalization or other similar transaction.

The aggregate fees earned by Brown Rudnick from the Lodestar Fee
at Reduced Hourly Rates and Partial Contingency Fee may not
exceed, in total, the Lodestar Fees that would have been paid at
Brown Rudnick's usual hourly rates multiplied by 1.25.

Brown Rudnick customarily is reimbursed for all expenses it incurs
in connection with its representation of a client in a given
matter.

                        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.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.



ALEXANDRA TRUST: Bailey Opposes Payment of Slim's Previous Fees
---------------------------------------------------------------
Scheduled creditor Don Bailey supplemented his limited objection to
Alexandra Trust's application to employ special counsel Jules P.
Slim.

Mr. Bailey stated that in the event that the Court authorizes the
Debtor to hire Mr. Slim, that authorization must bar Mr. Slim from
receiving fees for any work by him on behalf of the Debtor prior to
the date of the order approving his hiring.

On Nov. 13, 2014, the sought permission to employ Mr. Slim as
special counsel to represent the Debtor in litigation matters
concerning property and other assets of the Debtor located in Texas
and Mississippi.

On Dec. 5, Mr. Bailey filed his limited objection to the
application.  On Dec. 29, the Debtor amended its application and on
Dec. 30, it responded to Mr. Bailey's limited objection and asked
that the Court grant its motion.

                       Amended Application

In its application, the Debtor said Mr. Slim will represent the
Debtor in that certain adversary proceeding filed on Dec. 12, 2014,
entitled Alexandra Trust v. M Street Investments, Inc. et al., Case
No. 14-03156.  The adversary proceeding seeks the turnover of
property of the Debtor and its estate.

Mr. Slim has agreed to represent the Debtor on an hourly basis at
$325.

Mr. Slim has been paid a retainer of $5,000 in connection with the
proceeding from Sarah Sterritt individually.  Mrs. Sterritt is
co-trustee of the Alexandra Trust and will personally pay ongoing
legal fees and expenses of Jules Slim during the bankruptcy.

The compensation to be paid to Mr. Slim will be based upon these
hourly rates:

         Mr. Slim                     $325
         Paralegals                    $90

As reported in the Troubled Company Reporter on Dec. 1, 2014,
Mr. Slim 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 Debtors' bankruptcy attorneys are:

         Arthur Ungerman, Esq.
         Kerry S. Alleyne-Simmons, Esq.
         LAW OFFICE OF ARTHUR UNGERMAN
         12720 Hillcrest Road, Suite 625
         Dallas, TX 75230
         Tel: (972) 239-9055
         Fax: (972) 239-9886

               - and -

         Joyce W. Lindauer, Esq.
         LAW OFFICE OF JOYCE LINDAUER
         12720 Hillcrest Road, Suite 625
         Dallas, TX 75230
         Tel: (972) 503-4033
         Fax: (972) 503-4034

Don Bailey is represented by:

         Richard B. Schiro, Esq.
         LAW OFFICES OF RICHARD B. SCHIRO
         2706 Fairmount Street
         Dallas, TX 75201
         Tel: (214) 521-4994
         Fax: (214) 521-3838

                       About Alexandra Trust

Garland, Texas-based Alexandra Trust sought protection under
Chapter 11 of the Bankruptcy Code on Oct. 20, 2014 (Case No. 14-
35049, Bankr. N.D. Tex.).  The case is assigned to Judge Barbara
J. Houser.  The Debtor's counsel is Arthur I. Ungerman, Esq., in
Dallas, Texas.  In a revised schedules, the Debtor disclosed
$861,125,941 in assets and $4,572,832 in liabilities as of the
Chapter 11 filing.  The petition was signed by Richard Dale
Sterritt, Jr., trustee.



ALEXANDRA TRUST: Bailey Says Atty. Application Still Lacking
------------------------------------------------------------
Scheduled creditor Don Bailey supplemented his limited objection to
Alexandra Trust's application to employ counsel Arthur I. Ungerman,
Joyce W. Lindauer, and Kerry S. Alleyne-Simmons.

The Debtor filed its amended application to employ Mr. Ungerman,
Ms. Lindauer and Ms. Alleyne-Simmons as counsel on Nov. 13, 2014.

Mr. Bailey said that the Debtor's filings to date do not disclose
"the fee arrangements and retention agreements" with Mr. Ungerman
and Ms. Lindauer.  The Debtor's objection is incorrect in stating
that "retention agreements" have been filed.  No retention
agreement has been forthcoming from Mr. Ungerman or Ms. Lindauer.
Bailey repeats his request that Mr. Ungerman and Ms. Lindauer be
required to produce their joint or separate retention agreement(s)
with Debtor.

On Dec. 30, the Debtor requested that Court deny Mr. Bailey's
requested relief and enter an order approving the employment of Mr.
Ungerman, Ms. Lindauer and Ms. Alleyne-Simmons, as counsel.

As reported in the Troubled Company Reporter on Dec. 1, 2014, the
Debtor related that Mr. Ungerman will be responsible for the
general administration of the estate including, filing of the
schedules and statement of financial affairs, advising the Debtor
on compliance issues for opening the Debtor in Possession Account,
filing monthly operating reports and paying quarterly fees,
attending the 11 U.S.C. Sec. 341 meeting, preparing cash collateral
motions and orders, negotiating with creditors of the estate,
preparation of the plan of reorganization and disclosure statement.
Ms. Lindauer will be responsible for any litigation matters,
including contested motions to lift the automatic stay, objections
to cash collateral, plan of  reorganization and disclosure
statement, and adversary proceedings  brought by or against the
Debtor.

The attorneys will be paid at these hourly rates:

       Arthur I. Ungerman                  $275
       Joyce W. Lindauer                   $375
       Kerry S. Alleyne-Simmons            $175
       Paralegals and Legal Assistants  $50 to 125

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

Mr. Ungerman has been paid a retainer of $10,000 in connection
with these proceedings. This retainer has been used to pay for the
filing fee of $1,717 in connection with this case.

Mr. Ungerman, Ms. Lindauer and Ms. Alleyne-Simmons, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

                       About Alexandra Trust

Garland, Texas-based Alexandra Trust sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 14-
35049) on Oct. 20, 2014.  The case is assigned to Judge Barbara
J. Houser.  The Debtor's counsel is Arthur I. Ungerman, Esq., in
Dallas, Texas.  In a revised schedules, the Debtor disclosed $861
million in assets and $4.57 million in liabilities as of the
Chapter 11 filing.  The petition was signed by Richard Dale
Sterritt, Jr., trustee.

Don Bailey, a scheduled creditor, says the Debtor is not really a
business to be reorganized.  Its assets, other than a debt-free
residential property, are claimed interests in 22 entities plus
seven potential lawsuits which the Debtor apparently intends to
file in its name to resolve, among other issues, ownership of
several of those entities.



ALEXANDRA TRUST: Bailey Wants Ch. 11 Trustee Bid Resolved First
---------------------------------------------------------------
Scheduled creditor Don Bailey supplemented his limited objection to
Alexandra Trust's application to employ special counsel B. Blake
Teller of Teller, Hassell & Hopson, LLP.

On Nov. 14, 2014, the Debtor filed its application to employ
special counsel to represent the Debtor in litigation matters
concerning property and other assets of the Debtor located in
Vicksburg, Mississippi.  Mr. Bailey filed his limited objection to
the application on Dec. 8.

The Debtor amended the application on Dec. 29.  In the amended
application, the Debtor stated it believes that the Mississippi
litigation is stayed because of the its bankruptcy, and responded
to Mr. Bailey's limited objection on Dec. 30

In the supplement, Mr. Bailey said that the Debtor's hiring of
Mr. Teller must be postponed until the Court's ruling on that
motion for appointment of a chapter 11 trustee.  If a trustee is
appointed, any decision on hiring Mississippi counsel for the
Debtor should be made by the trustee.

                       Amended Application

The Debtor related that Mr. Teller of TH&H will represent the
Debtor in that certain lawsuit entitled M Street Investments, Inc.
et al v. AGT Capital, LLC et al., Cause No. 14-CV-00060 in the
Circuit Court of Warren County, Mississippi.  The litigation is
related to ownership of property and assets that the Debtor claims
an interest in, located in Vicksburg, Mississippi.

The Debtor believes that the Mississippi litigation is stayed
because of the bankruptcy.  The Debtor is very optimistic that its
claims and defenses in the litigation will result in a significant
recovery for the estate.

TH&H has been paid a retainer of $5,000 in connection with the
proceeding from Sarah Sterritt individually.  Mrs. Sterritt is
co-trustee of the Alexandra Trust and will personally pay ongoing
legal fees and expenses of TH&H during the bankruptcy.

The compensation to be paid to TH&H will be based upon these hourly
rates:

         Mr. Teller                    $225
         G. Philip Schrader, IV        $175
         Lauren Roberts Caepart        $175

                       About Alexandra Trust

Garland, Texas-based Alexandra Trust sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 14-
35049) on Oct. 20, 2014.  The case is assigned to Judge Barbara
J. Houser.  The Debtor's counsel is Arthur I. Ungerman, Esq., in
Dallas, Texas.  In a revised schedules, the Debtor disclosed $861
million in assets and $4.57 million in liabilities as of the
Chapter 11 filing.  The petition was signed by Richard Dale
Sterritt, Jr., trustee.

Don Bailey, a scheduled creditor, says the Debtor is not really a
business to be reorganized.  Its assets, other than a debt-free
residential property, are claimed interests in 22 entities plus
seven potential lawsuits which the Debtor apparently intends to
file in its name to resolve, among other issues, ownership of
several of those entities.



ALLIED SECURITY: S&P Hikes Rating on $701MM 1st Lien Loan to 'B+'
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level ratings
on Pennsylvania-based Allied Security Holdings LLC's $701 million
senior secured first-lien credit facility (composed of a $81
million revolver and a $620 first-lien term loan) to 'B+' from 'B',
following the cancellation of a $220 million delayed-draw on the
first-lien term loan that S&P had initially included in its
analysis.  S&P also revised the recovery rating on the first-lien
debt to '2' (indicating S&P's expectation of substantial recovery
[70%-90%] in a payment default scenario) from '3'.

S&P also affirmed the 'CCC+' issue-level rating on the company's
$265 million secured second-lien debt.  The $100 million
delayed-draw on the second-lien debt was also cancelled.  The
recovery rating on the second-lien debt remains '6', indicating
S&P's expectation of negligible recovery (0%-10%) in a payment
default scenario.

The proceeds from the delayed-draw transaction would have funded an
acquisition, which did not close.  S&P estimates credit metrics
remain weak, with adjusted leverage of about 6.6x for the 12 months
ended Sept. 30, 2014, increased from about 5.2x in the prior year,
due to a debt-funded dividend.  S&P expects credit metrics will
remain near current levels and in line with indicative ratios
(including leverage above 5x) for the "highly leveraged" financial
profile over the next year, given the presence of a financial
sponsor with a history of maintaining high leverage from
debt-funded shareholder distributions and acquisitions.  S&P also
expects relatively steady operating performance and minimal debt
reduction.  S&P believes industry consolidation will continue in
the highly competitive security services industry, and that the
company will continue to grow both organically and through
acquisitions.  The company's narrow product focus but good market
share in the security services industry underpins our "fair"
business risk assessment.

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

RATINGS LIST

Allied Security Holdings LLC
Corporate credit rating           B/Stable/--

Ratings Raised; Recovery Ratings Revised

                                   To          From
Allied Security Holdings LLC
Senior secured
  First-lien                       B+          B
   Recovery rating                 2           3

Issue Rating Affirmed; Recovery Rating Unchanged

Senior secured
  Second-lien                      CCC+
   Recovery rating                 6



AMBASSADOR INSURANCE: Claims Bar Date Ruling Reversed
-----------------------------------------------------
National Indemnity Company (NICO), assignee to two claims under
excess liability policies issued by Ambassador Insurance Company,
Inc., a property and casualty insurance company incorporated in
Vermont, appeals a superior court order setting a deadline by which
all policyholders must file final proofs of claim.  NICO argues
that the court's deadline is unreasonable and that the court failed
to consider available alternatives to a final claim date.

The Supreme Court of Vermont, in a Jan. 23, 2015 opinion available
at http://is.gd/kxHmJcfrom Leagle.com, reversed.

NICO is represented by:

     Andre D. Bouffard, Esq.
     DOWNS RACHLIN MARTIN PLLC
     Courthouse Plaza
     Burlington, VT 05402
     Tel: 802-863-2375
     Dir: 802-846-8347
     Fax: 802-862-7512
     E-mail: abouffard@drm.com

Ambassador is represented by:

     Jacqueline A. Hughes, Esq.
     Daniel C. Burke, Esq.
     STORROW BUCKLEY HUGHES, LLP
     26 State Street
     Montpelier, VT 05602
     Tel: (802) 229-4900

and David R. Cassetty, Special Assistant Attorney General,
Montpelier.

                   About Ambassador Insurance

Ambassador Insurance Co. was incorporated in Vermont, although it
operated from North Bergen, N.J. Co., which was deemed insolvent
and seized by Vermont's insurance department in 1983.


AMERICAN AIRLINES: Reports $2.9-Bil. Net Profit in 4th Qtr. 2014
----------------------------------------------------------------
American Airlines Group Inc. on Jan. 27 reported its fourth quarter
and full year 2014 results.

For the fourth quarter 2014, American Airlines Group reported a
record GAAP net profit of $597 million.  This compares to a GAAP
net loss of $2.0 billion in the fourth quarter 2013, which includes
the results for US Airways only for the period from the completion
of the merger on December 9, 2013, through December 31, 2013.

For full year 2014, GAAP net profit was $2.9 billion, compared to a
full year 2013 GAAP net loss of $1.8 billion for AMR Corporation,
which includes the results for US Airways only for the period from
the completion of the merger on December 9, 2013, through December
31, of 2013.

The Company believes it is more meaningful to compare
year-over-year results for American Airlines and US Airways
excluding special charges and on a combined basis, which is a
non-GAAP formulation that combines the results for AMR Corporation
and US Airways Group.  On this basis, the Company's fourth quarter
2014 net profit excluding net special charges was a record $1.1
billion, or $1.52 per diluted share.  This represents a 153 percent
improvement over the combined non-GAAP net profit of $436 million
excluding net special charges for the same period in 2013. The
Company's fourth quarter 2014 pretax margin excluding net special
charges was a record 10.6 percent.

Excluding net special charges, the Company's 2014 net profit was a
record $4.2 billion, or $5.70 per diluted share.  This represents a
115 percent improvement over the Company's combined 2013 non-GAAP
net profit excluding net special charges of $1.9 billion.

See the accompanying notes in the Financial Tables section of this
press release for further explanation of this presentation,
including a reconciliation of GAAP to non-GAAP financial
information.

"Our record 2014 results close out a fantastic first year for our
merger.  These results would not have been possible without the
efforts of our more than 100,000 team members," said Doug Parker,
American Airlines Group Chairman and CEO.  "They have done a great
job of working together to take care of our customers and restore
American as the greatest airline in the world.

"We have much to do in the year ahead as we continue to integrate
two large carriers.  The results we have achieved thus far,
combined with our economic outlook, give us confidence that 2015
will be another outstanding year for American Airlines."

Revenue and Cost Comparisons

Total revenue in the fourth quarter was a record $10.2 billion, an
increase of 2.1 percent versus the fourth quarter 2013 on a
combined basis and excluding special items, on a 1.7 percent
increase in total available seat miles (ASMs).  Consolidated
passenger revenue per ASM (PRASM) was 13.50 cents, down 1.0 percent
versus the fourth quarter 2013 on a combined basis. Consolidated
passenger yield was a record 16.84 cents, up 0.9 percent
year-over-year.

Strong demand throughout the year led to 2014 total revenue of
$42.7 billion, up 5.6 percent versus 2013 on a combined basis and
excluding special items.  Full year consolidated PRASM was 13.97
cents, up 2.2 percent versus 2013 on a combined basis.

Total operating expenses in the fourth quarter were $9.3 billion, a
decrease of 4.1 percent compared to combined fourth quarter 2013
due primarily to a 17.3 percent decrease in consolidated fuel
expense.  Fourth quarter mainline cost per available seat mile
(CASM) was 13.32 cents, down 6.1 percent on a 1.5 percent increase
in mainline ASMs versus combined fourth quarter 2013.  Excluding
special charges and fuel, mainline CASM was 8.67 cents, up 1.1
percent compared to the combined fourth quarter 2013.  Regional
CASM excluding special charges and fuel was 15.87 cents, up 0.9
percent on a 3.8 percent increase in regional ASMs versus combined
fourth quarter 2013.

For the full year 2014, total operating expenses were $38.4
billion, up 1.5 percent versus combined 2013.  Excluding special
charges and fuel, mainline CASM increased 2.0 percent to 8.63 cents
versus combined 2013.  Regional CASM excluding special items and
fuel increased 3.6 percent to 15.94 cents versus combined 2013.

Liquidity

At December 31, 2014, American had approximately $8.1 billion in
total cash and short-term investments, of which $774 million was
restricted.  The Company also had an undrawn revolving credit
facility of $1.8 billion.

Also in the fourth quarter, the Company returned $959 million to
its shareholders through the payment of $72 million in quarterly
dividends and the repurchase of $887 million of common stock, or
20.5 million shares.  When combined with the $113 million of shares
repurchased in the third quarter 2014, the Company repurchased a
total of 23.4 million shares at an average price of $42.72 per
share in 2014.  The Company's $1 billion share repurchase program
announced in July 2014 is now complete -- more than one year ahead
of its scheduled expiration.  The Company also purchased
approximately 52,000 shares from its Disputed Claims Reserve at the
prevailing market price to satisfy certain tax obligations
resulting from the November 4, 2014, distribution.

As of December 31, 2014, approximately $656 million of the
Company's unrestricted cash and short-term investment balance was
held in Venezuelan bolivars.  This balance includes approximately
$621 million valued at 6.3 bolivars and approximately $35 million
valued at 12.0 bolivars, with the rate depending on the date the
Company submitted its repatriation request to the Venezuelan
government.  These rates are materially more favorable than the
exchange rates currently prevailing for other transactions
conducted outside of the Venezuelan government's currency exchange
system.  The Company's cash balance held in Venezuelan bolivars
decreased $65 million from the September 30, 2014 balance of $721
million.  In the fourth quarter of 2014, the Company incurred an
$11 million foreign currency loss related to the receipt of $23
million at a rate of 6.3 bolivars to the dollar for one of its 2012
repatriation requests originally valued at a rate of 4.3 bolivars
to the dollar.  Accordingly, the Company revalued its remaining
pending 2012 repatriation requests from 4.3 to 6.3 bolivars to the
dollar resulting in additional foreign currency losses of $19
million.  In total, the Company recognized a $30 million special
charge for these foreign currency losses in the fourth quarter of
2014.

The Company has significantly reduced capacity in this market.  The
Company is continuing to work with Venezuelan authorities regarding
the timing and exchange rate applicable to the repatriation of
funds held in local currency.  The Company is monitoring this
situation closely and continues to evaluate its holdings of
Venezuelan bolivars for additional foreign currency losses, which
could be material.

The Company also announced that its Board of Directors declared a
dividend of $0.10 per share for shareholders of record as of
February 9, 2015.  The dividend will be paid on February 23, 2015.
In addition, the Company announced that its Board also authorized
an additional $2 billion share repurchase program to be completed
by the end of 2016.

Shares repurchased under the program announced above may be made
through a variety of methods, which may include open market
purchases, privately negotiated transactions, block trades or
accelerated share repurchase transactions.  Any such repurchases
will be made from time to time subject to market and economic
conditions, applicable legal requirements and other relevant
factors.  The program does not obligate the Company to repurchase
any specific number of shares or continue a dividend for any fixed
period, and may be suspended at any time at management's
discretion.

Notable Accomplishments

Merger Related Accomplishments

Combined operations at 23 airports during the quarter, bringing the
total to 106

Announced details of a combined frequent flyer program for American
Airlines AAdvantage(R) and US Airways Dividend Miles(R) members
that will combine mileage balances and align elite levels and
qualification criteria

Integrated the Company's cargo division under a single cargo air
waybill, giving customers worldwide access to seamless cargo
shipping across the merged airline

Reached a new five-year joint collective bargaining agreement
(JCBA) with the Association of Professional Flight Attendants for
the airline's combined 24,000 flight attendants

Reached a tentative five-year JCBA with the Allied Pilots

Association representing the carrier's 14,000 pilots; ratification
results will be known later this month

Reached a new 10-year agreement with the Air Line Pilots
Association representing pilots at the Company's wholly owned
subsidiary Envoy Air that provides significant flow-through
opportunities from the regional unit to the mainline carrier

Marketing, Network and Fleet Accomplishments

Announced $2 billion in planned customer improvements, including
new seats from nose to tail on several aircraft types and fully
lie-flat seats on the Company's long-haul international fleet;
satellite-based Internet access, providing connectivity for
international flights; a refreshed and modern design for Admirals
Club lounges worldwide; onboard power on new aircraft; and improved
and updated kiosks to expedite airport check-in

As part of the Company's fleet renewal program, took delivery of 20
new mainline aircraft in the fourth quarter, including 11 Airbus
A320 family aircraft, seven Boeing 737-800 aircraft and two Boeing
777-300ER aircraft.  On January 23, the Company received its first
Boeing 787-8 Dreamliner, the first of 12 that it expects to receive
in 2015

Celebrated the 25th anniversary of our Miami Hub, the premier
gateway in the United States for Latin America and the Caribbean
Began service to Cap Haitien, the Company's second destination in
Haiti and 32nd destination in the Caribbean, as well as Campinas
(Viracopos), Brazil, the Company's 10th destination in Brazil

Announced new service from Birmingham, England to New York John F.
Kennedy International Airport, as well as second daily services to
both Los Angeles International and Philadelphia from London
Heathrow Airport

Formed a partnership with Cadillac to offer ramp transfers at Los
Angeles International Airport, Dallas/Fort Worth International
Airport, New York's LaGuardia Airport and John F. Kennedy
International Airport for the Company's premium customers

Announced a codeshare relationship with Jetstar that will add the
American Airlines code to several destinations in Japan. Also
announced a codeshare agreement with Mexico City-based airline
Interjet, adding new service to key destinations in Mexico for
American's customers

Community Relations Accomplishments

Recognized as one of the "2014 Best Companies for Diversity" by
Hispanic Business Inc. and honored as the only airline to earn a
perfect score in the Human Rights Campaign's Corporate Equality
Index

Held the Company's first combined Be Pink month, raising more than
$750,000 from employees, vendors and customers for Susan G.
Komen(R).  In addition, nearly 500 employees participated in Making
Strides Against Breast Cancer walks and the Susan G. Komen Race for
the Cure Series

Hosted Sky Ball, an annual gala event at one of the Company's
hangars at Dallas/Fort Worth International Airport honoring U.S.
military members, veterans, and their families.  This event raised
more than $1.9 million for the Airpower Foundation, and more than
1,000 American Airlines employees volunteered their time
Held the Company's annual Snowball Express, with ten American
Airlines charter flights bringing nearly 1,800 children and spouses
of fallen military men and women to the Dallas-Fort Worth area for
four days of activities such as sporting events, dances, and visits
to amusement parks

Special Items

In the fourth quarter, the Company recognized $507 million in net
special charges, including:

$280 million in merger integration related expenses
$116 million in net charges for bankruptcy related items,
principally consisting of fair value adjustments for bankruptcy
settlement obligations
$70 million in charges related primarily to certain asset
impairments
$31 million in non-operating special items primarily relating to a
$30 million special charge for foreign currency losses relating to
the Company's cash balance held in Venezuelan bolivars
$16 million in net regional operating special items including a $24
million charge relating to a new pilot contract, partially offset
by an $8 million gain on the sale of certain spare parts
$6 million in non-cash deferred income tax benefits relating to
certain indefinite lived intangible assets

                     About American Airlines

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

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

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

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

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

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

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

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

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

                          *     *     *

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

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

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

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

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


AMERICAN MEDIA: Issues $39 Million Senior Secured Notes
-------------------------------------------------------
American Media, Inc., issued $39,024,390 in an aggregate principal
amount of 7.000% second lien senior secured notes due 2020.  The
Notes were issued under an indenture dated Jan. 20, 2015, by and
among the Company, the guarantors party thereto and Wilmington
Trust, National Association, as trustee and collateral agent.

According to a Form 8-K filed with the U.S. Securities and Exchange
Commission, the Notes were issued to certain noteholders of the
Company, who are also the majority equityholders of the Company, in
exchange for $32,000,000 in aggregate principal amount of the
Company's 11 1/2% First Lien Senior Secured Notes due 2017,
pursuant to an exchange agreement.

The Notes mature on July 15, 2020.  The Notes accrue interest at a
rate of 7.000% per year.  Interest on the Notes will be paid
semi-annually in arrears on July 15 and Jan. 15 of each year.

On Jan. 20, 2015, the Company entered into a supplemental indenture
by and between the Company and Wilmington Trust, National
Association, as successor by merger to Wilmington Trust FSB, as
trustee and collateral agent, to an indenture, dated as of Dec. 22,
2010, by and among the Company, the guarantors party thereto and
the Existing Second Lien Trustee.  The Supplemental Indenture
clarifies the permitted relative lien priority of the Notes.

                Revolving Credit Facility Amendment

On Jan. 20, 2015, the Company amended its revolving credit
agreement, dated as of Dec. 22, 2010, by and among the Company,
JPMorgan Chase Bank, N.A., as administrative agent, and the lenders
from time to time party thereto.  In particular, the amendment
modifies the definition of "Permitted Refinancing Indebtedness" to
contemplate, among other things, the Exchange.

                       Security Documents

The Company entered into the Collateral Agreement, dated as of Jan.
20, 2015, by and among the Company, the subsidiaries of the
Company, and Wilmington Trust, National Association, as collateral
agent, in order to secure the payment and performance of the
obligations under the Indenture.  The Collateral Agreement is
substantially similar to the collateral agreement entered into in
connection with securing the notes issued under the Existing Second
Lien Indenture.

                       Joinder Agreement

On Jan. 20, 2015, the Trustee entered into the second joinder to
the junior lien intercreditor agreement, dated as of Dec. 22, 2010,
by and among the Company, the grantors party thereto, JPMorgan
Chase Bank, N.A., as the agent and revolving credit collateral
agent, Wilmington Trust, National Association (as successor by
merger to Wilmington Trust FSB), as trustee and collateral agent
for the First Lien Notes, the Existing Second Lien Trustee and each
additional collateral agent from time to time party thereto.  Under
the Joinder to the Second Lien Intercreditor Agreement, the Trustee
acknowledged and agreed to act as collateral agent under the Second
Lien Intercreditor Agreement on behalf of the holders of the
Notes.

On Jan. 20, 2015, the Trustee also entered into the pari second
lien intercreditor agreement by and between the Trustee and the
Existing Second Lien Trustee.  Under the Pari Second Lien
Intercreditor Agreement, the parties agreed, among other things,
that the Existing Second Lien Trustee will act as the Second
Priority Representative.

                       About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., an in-store magazine merchandising
company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on Nov. 17, 2010, with a
prepackaged plan.  The Debtors emerged from Chapter 11
reorganization in December 2010, handing ownership to former
bondholders.  The new owners include hedge funds Avenue Capital
Group and Angelo Gordon & Co.

American Media reported a net loss of $54.3 million on
$344 million of total operating revenues for the fiscal year ended
March 31, 2014, following a net loss of $56.2 million on $349
million of total operating revenues for the year ended March 31,
2013.

                           *     *     *

As reported in the Jan. 9, 2015 edition of the TCR, American Media
carries a 'Caa1' corporate family rating from Moody's.  American
Media's Caa1 CFR reflects the company's elevated total debt to
EBITDA leverage that Moody's expect will rise to the 8-9x range
(Moody's adjusted) over the rating horizon from about 7x as of
Sept. 30, 2014 as a result of lower EBITDA performance that
stems from a reduction in circulation sales associated with the
bankruptcy filing of AMI's second largest publications wholesaler,
Source Interlink Distribution ("Source").  The rating also captures
AMI's weak liquidity profile and deteriorating EBITDA cushion under
the revolver's first-lien leverage covenant resulting from the
lower circulation revenue aggravated by the Source bankruptcy,
which required temporary covenant relief through an amendment to
the credit facility.

As reported in the Jan. 14, 2015 edition of the TCR, Standard &
Poor's Ratings Services said that its ratings on U.S. magazine
publisher American Media Inc., including the 'CCC' corporate credit
rating, are not affected by the company's announcement that it is
exchanging $32 million of its first-lien 11.5% notes due 2017 for
$39 million in new second-lien 7% notes due 2020.  The negative
rating outlook remains unchanged.



ARCHDIOCESE OF ST. PAUL: Has OK to Continue Insurance Programs
--------------------------------------------------------------
Judge Robert J. Kressel of the U.S. Bankruptcy Court for the
District of Minnesota authorized the Archdiocese of Saint Paul and
Minneapolis to (i) pay or reimburse all claims, premiums, and
administrative expenses payable under the insurance program whether
incurred pre- or postpetition, and (ii) pay any workers'
compensation claims, premiums, and related administrative expenses
from the GIF Account whether incurred pre- or postpetition.

Mary Jo. A. Jensen-Carter, Esq., attorney for approximately 50
parishes located in the archdiocese, supported the Debtor's request
for authority to maintain its insurance programs, saying the
parishes in the Archdiocese participate in the insurance programs
and they rely on the existence of the insurance coverage to operate
their businesses in the ordinary course.  Ms. Jensen-Carter said
the parishes will suffer immediate and irreparable harm if the
insurance programs do not continue to operate in the ordinary
course.

                   About Archdiocese of St. Paul

The Archdiocese of Saint Paul and Minneapolis was originally
established by the Vatican in 1850 and serves a geographical area
consisting of 12 greater Twin Cities metro-area counties in
Minnesota, including Ramsey, Hennepin, Anoka, Carver, Chisago,
Dakota, Goodhue, Le Sueur, Rice, Scott, Washington, and Wright
counties.  There are 187 parishes and approximately 825,000
Catholic individuals in the region.  These individuals and parishes
are served by 3999 priests and 173 deacons.

The Archdiocese of St. Paul and Minneapolis filed for Chapter 11
protection (Bankr. D. Minn. Case No. 15-30125) in Minnesota on Jan.
16, 2015, saying it has large and growing liabilities related to
child sexual abuse and that its pension obligations are
underfunded.

The Debtor estimated under $50 million in assets and under $100
million in liabilities.

The Debtor has tapped Briggs and Morgan, P.A., as Chapter 11
counsel; BGA Management LLC d/b/a Alliance Management as financial
advisor; Lindquist & Vennum LLP as attorney.

According to the docket, the Debtor's exclusivity period for filing
plan and disclosure statement ends May 18, 2015.  Governmental
proofs of claims are due July 15, 2015.

Eleven other dioceses have commenced Chapter 11 bankruptcy cases in
the United States to settle claims from current and former
parishioners who say they were sexually molested by priests.


ASPEN GROUP: Cooperman Reports Warrants to Buy 4MM Shares
---------------------------------------------------------
Leon Cooperman disclosed in an amended Schedule 13G filed with the
U.S. Securities and Exchange Commission that as of Dec. 31, 2014,
he beneficially owned 11,238,939 shares of common stock of
Aspen Group, Inc., representing 9.99 percent of the shares
outstanding.  

In a Schedule 13G/A filed on Jan. 23, 2015, Mr. Coooperman
inadvertently overlooked that he owned 4,000,000 Warrants
convertible into the Issuer's Common Stock.  The purpose of the
Amendment was to correct that mistake.

According to Mr. Cooperman, the 11,238,939 shares does not include
additional shares of common stock issuable upon the exercise of
warrants which contain a blocker provision under which the
reporting person can only exercise his warrants to a point where he
would beneficially own a maximum of 9.99% of the Issuer's
outstanding shares.  Subject to the terms of the Blocker Mr.
Cooperman has the immediate right to purchase an additional
4,000,000 shares.  The reporting person owns directly 8,000,000
shares.
      
A copy of the regulatory filing is available for free at:

                         http://is.gd/QT6Mpb

                           About Aspen Group

Denver, Colo.-based Aspen Group, Inc., was founded in Colorado in
1987 as the International School of Information Management.  On
Sept. 30, 2004, it was acquired by Higher Education Management
Group, Inc., and changed its name to Aspen University Inc.  On
May 13, 2011, the Company formed in Colorado a subsidiary, Aspen
University Marketing, LLC, which is currently inactive.  On
March 13, 2012, the Company was recapitalized in a reverse merger.

Aspen's mission is to become an institution of choice for adult
learners by offering cost-effective, comprehensive, and relevant
online education.  Approximately 88 percent of the Company's
degree-seeking students (as of June 30, 2012) were enrolled in
graduate degree programs (Master or Doctorate degree program).
Since 1993, the Company has been nationally accredited by the
Distance Education and Training Council, a national accrediting
agency recognized by the U.S. Department of Education.

Aspen Group incurred a net loss of $5.35 million for the year
ended April 30, 2014.  The Company also reported a net loss of
$1.40 million for the four months ended April 30, 2013.  The
Company reported a net loss of $6 million in 2012 as compared
with a net loss of $2.13 million in 2011.

As of Oct. 31, 2014, the Company had $5.36 million in total
assets, $3.49 million in total liabilities and $1.87 million in
total stockholders' equity.


ASPEN GROUP: Sophrosyne Reports 9.6% Stake as of Jan. 26
--------------------------------------------------------
Sophrosyne Capital, LLC, disclosed in an amended Schedule 13G filed
with the U.S. Securities and Exchange Commission that as of Jan.
26, 2015, it beneficially owned 11,012,808 shares of common stock
and warrants (exercisable into common stock) of Aspen Group. Inc.,
representing 9.67 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/LUpCNV

                           About Aspen Group

Denver, Colo.-based Aspen Group, Inc., was founded in Colorado in
1987 as the International School of Information Management.  On
Sept. 30, 2004, it was acquired by Higher Education Management
Group, Inc., and changed its name to Aspen University Inc.  On
May 13, 2011, the Company formed in Colorado a subsidiary, Aspen
University Marketing, LLC, which is currently inactive.  On
March 13, 2012, the Company was recapitalized in a reverse merger.

Aspen's mission is to become an institution of choice for adult
learners by offering cost-effective, comprehensive, and relevant
online education.  Approximately 88 percent of the Company's
degree-seeking students (as of June 30, 2012) were enrolled in
graduate degree programs (Master or Doctorate degree program).
Since 1993, the Company has been nationally accredited by the
Distance Education and Training Council, a national accrediting
agency recognized by the U.S. Department of Education.

Aspen Group incurred a net loss of $5.35 million for the year
ended April 30, 2014.  The Company also reported a net loss of
$1.40 million for the four months ended April 30, 2013.  The
Company reported a net loss of $6 million in 2012 as compared
with a net loss of $2.13 million in 2011.

As of Oct. 31, 2014, the Company had $5.36 million in total
assets, $3.49 million in total liabilities and $1.87 million in
total stockholders' equity.


ATLANTIC CITY, NJ: S&P Cuts GO Debt Rating to BB, on Watch Negative
-------------------------------------------------------------------
Standard & Poor's Ratings Services has lowered its general
obligation rating on Atlantic City, N.J., four notches to 'BB' from
'BBB+' and placed it on CreditWatch with negative implications.

The downgrade reflects S&P's view of the state's recent
appointment, by executive order, of an Emergency Manager and
Emergency Manager Advisor within the state's Department of
Community Affairs, Division of Local Governments.  The order
requires the Emergency Manager to prepare and recommend a plan,
within 60 days, to place Atlantic City's finances in stable
condition and provides the explicit authority to use any and all
lawful means, including restructuring the city's operations and
adjusting its debts to achieve that aim.

"The implementation of an Emergency Manager signals to Standard &
Poor's that the state does not view the city as capable of
resolving its challenges without outside intervention; in our view,
third-party intervention is often more draconian than the actions
taken to date and has a greater likelihood of being detrimental to
bondholders," said Standard & Poor's credit analyst Lindsay
Wilhelm.

The state action affects S&P's assessment of the city's overall
management conditions despite the existence of standard financial
management policies; its ability to execute on its plans to achieve
structural balance relative to revenue pressure from casino
closures and tax appeals; and its uncertain access to external
liquidity.  In S&P's view, and consistent with its rating
definitions, it believes the action could expose the city to
adverse business and financial conditions that could lead to
inadequate capacity to meet financial commitments on its
obligations.  In addition, the choice of an Emergency Manager and
Special Advisor with significant experience in corporate and
municipal bankruptcy increases our concern that the plan created
will include scenarios that lead to non-payment of the city's
bonded debt, as could happen in a debt restructuring or a
bankruptcy.

The CreditWatch placement reflects S&P's expectation that the
Emergency Manager's plan, which is due within the next 60 days,
should provide additional clarity on the path that the city and
state might pursue to stabilize the city's finances and S&P will
monitor the impact that the plan may have on the city's bonded
debt.

Other credit factors include our opinion of the Atlantic City's:

   -- Very weak management conditions, given the authority vested
      in the Emergency Manager to recommend and negotiate any and
      all lawful actions to restore the city's finances, which in
      S&P's opinion, could include bankruptcy;

   -- Weak liquidity based on our view of heightened market access

      risk due to the Emergency Manager appointment;

   -- Adequate budgetary performance, but with what S&P considers
      increased risk to the city's ability to implement its
      previous plans for structural balance;

   -- Very weak budgetary flexibility following a deficit in 2013,

      which is partially offset by significant staffing and
      expenditure reductions in 2014, but exacerbated by a limited

      ability to raise taxes to maintain a consistent tax levy;

   -- An adequate debt and contingent liability profile with rapid

      amortization, even considering the city's issuance of tax
      appeal refunding bonds; and

   -- A strong statutory Institutional Framework, though S&P's
      view could change based on the path that the state pursues
      to address Atlantic City's financial condition.

The CreditWatch reflects S&P's expectation that the Emergency
Manager's plan, which is due within the next 60 days, should
provide additional information on the path that the city and state
might pursue to stabilize Atlantic City's finances.  Should the
plan include a potential bankruptcy declaration or debt
restructuring, inconsistent with the terms of the outstanding
obligations, S&P could lower the rating to as low as the 'C'
category, barring an actual default.  Conversely, should the plan
identify structural measures outside of debt adjustment, S&P could
revise the outlook to stable, but would likely maintain the rating
in the 'BB' category based on what could be an extended timeframe
for implementation.  



AUTOCANADA INC: S&P Lowers Sr. Unsecured Debt Rating to 'B'
-----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its issue-level
rating on auto retailer AutoCanada Inc.'s senior unsecured debt one
notch to 'B' (two notches below the corporate credit rating on
AutoCanada) from 'B+', and revised its recovery rating on the debt
to '6' from '5'.  A '6' recovery rating indicates negligible
(0%-10%) recovery in a default scenario.

At the same time Standard & Poor's affirmed its 'BB-' long-term
corporate credit rating on the company.  The outlook is stable.

"The downgrade on the debt and revised recovery rating result from
the application of our revised revolver usage assumptions and do
not reflect any change in our assessment of AutoCanada's
fundamental credit quality," said Standard & Poor's credit analyst
Jamie Koutsoukis.

The ratings on AutoCanada reflect Standard & Poor's assessment of
the company's business risk profile as "fair" and its financial
risk profile as "significant."  The fair business risk assessment
reflects the company's solid position as a leading auto retailer in
Canada, its diverse and complementary revenue streams (new and used
vehicle sales, parts and services, and finance and insurance), and
the company's continued good profitability, despite the competitive
market.  S&P bases its financial risk assessment of significant on
its belief that AutoCanada's adjusted leverage will remain less
than 4x and funds from operations (FFO)-to-debt will be more than
20%, despite the company's stated goal of increasing its pace of
dealership acquisitions.

AutoCanada is one of the largest auto retailers in Canada, with 34
franchised dealerships, and is the only publicly traded one in the
country.  It has four business segments -- new car sales (63% of
revenues), used car sales (21%), parts and services (10%), and
finance and insurance (6%).  The parts and services segment and
finance and insurance operations are much higher-margin businesses
and helps diversify AutoCanada's revenue stream.

The stable outlook on AutoCanada reflects Standard & Poor's belief
that the company will continue to benefit from the expected
continued solid sales growth of light vehicles in Canada.
AutoCanada will also continue to diversify its brand sales as it
increases its dealership acquisition program, while maintaining
adjusted leverage at or below 4x.

S&P could lower its ratings on AutoCanada should adjusted leverage
exceed 5x over an extended period.  This could occur due to a more
aggressive acquisition plan, the company's failure to effectively
integrate acquired operations leading to a drop in margins, or a
steep drop in demand for light vehicles if Canada slipped into a
recession.  S&P believes that the chances for these scenarios are
unlikely, however, given AutoCanada's stated goal of maintaining a
moderate leverage level, funding acquisitions with a mix of debt
and equity, management's track record of successfully integrating
acquired dealerships, and our current view on the Canadian
economy.

To raise the rating, S&P would need to view AutoCanada's diversity
and size and scale on par with its 'BB' rated North American peers.
The company's relatively smaller size, geographic concentration in
western Canada, and sales reliance on Chrysler models compare
unfavorably with those of its peers.  Alternatively, maintenance of
credit measures consistent within an intermediate financial risk
profile (adjusted leverage less than 3x and FFO to debt of more
than 30%) could also support an upgrade, although we think that is
unlikely in the near term.



AUXILIUM PHARMACEUTICALS: Invesco Has 2.6% Stake as of Dec. 31
--------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Invesco Ltd. disclosed that as of Dec. 31,
2014, it beneficially owned 1,368,095 shares of common stock of
Auxilium Pharmaceuticals Inc. representing 2.6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/xB0MAQ

                          About Auxilium

Auxilium Pharmaceuticals, Inc. -- http://www.Auxilium.com/-- is a
fully integrated specialty biopharmaceutical company with a focus
on developing and commercializing innovative products for
specialist audiences.  With a broad range of first- and second-
line products across multiple indications, Auxilium is an emerging
leader in the men's healthcare area and has strategically expanded
its product portfolio and pipeline in orthopedics, dermatology and
other therapeutic areas.

Auxilium now has a broad portfolio of 12 approved products.  Among
other products in the U.S., Auxilium markets edex(R) (alprostadil
for injection), an injectable treatment for erectile dysfunction,
Osbon ErecAid(R), the leading device for aiding erectile
dysfunction, STENDRATM (avanafil), an oral erectile dysfunction
therapy, Testim(R) (testosterone gel) for the topical treatment of
hypogonadism, TESTOPEL(R) (testosterone pellets) a long-acting
implantable testosterone replacement therapy, XIAFLEX(R)
(collagenase clostridium histolyticum or CCH) for the treatment of
Peyronie's disease and XIAFLEX for the treatment of Dupuytren's
contracture.

The Company also has programs in Phase 2 clinical development for
the treatment of Frozen Shoulder syndrome and cellulite.

The Company's balance sheet at Sept. 30, 2014, showed $1.14
billion in total assets, $983 million in total liabilities and
total stockholders' equity of $162 million.

                           *     *     *

As reported by the TCR on May 7, 2014, Moody's Investors Service
downgraded the ratings of Auxilium  including the Corporate Family
Rating to 'B3' from 'B2'.  "The downgrade reflects Moody's
expectations that declines in Testim, Auxilium's testosterone gel,
will materially reduce EBITDA in 2014, resulting in negative free
cash flow, a weakening liquidity profile, and extremely high
debt/EBITDA," said Moody's Senior Vice President Michael Levesque.

The TCR reported on Sept. 23, 2014, that Standard & Poor's Ratings
Services raised its corporate credit rating on Auxilium to 'CCC+'
following the announced restructuring program and a $50 million
add-on to its existing first-lien term loan.


BINDER & BINDER: Wants to Pay $317,500 Critical Vendors Claims
--------------------------------------------------------------
Binder & Binder – The National Social Security Disability
Advocates (NY), LLC, et al., ask the U.S. Bankruptcy Court for
authorization to pay up to $317,507 for prepetition claims of
certain critical vendors.

The Debtors related that the loss of four critical business
relationships or suppliers of services could immediately and
irreparably harm their businesses, reduce their enterprise value or
significantly impair their going-concern viability.

The Debtors are represented by:

         Kenneth A. Rosen, Esq.
         Mary E. Seymour, Esq.
         Cassandra M. Porter, Esq.
         Nicholas B. Vislocky, Esq.
         LOWENSTEIN SANDLER LLP
         1251 Avenue of the Americas, 17th Floor
         New York, NY 10020
         Tel: (212) 262-6700
         Fax: (212) 262-7402

                - and -

         65 Livingston Avenue
         Roseland, NJ 07068
         Tel: (973) 597-2500
         Fax: (973) 597-2400

                     About Binder & Binder

Founded in 1979 by brothers Harry and Charles Binder, Binder &
Binder is the nation's largest provider of social security
disability and veterans' benefits advocacy services, with operating
scale and efficiencies unrivaled by its competitors in the highly
fragmented advocacy market.  The company has more than 950
employees in 35 offices across the United States.  In 2010, H.I.G.
Capital, LLC acquired a controlling equity interest in the
company.

Binder & Binder - The National Social Security Disability Advocates
(NY), LLC, et al., sought Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 14-23728) in White Plains, New York on Dec.
18, 2014.  The cases are assigned to Judge Robert D. Drain.

The Debtors have tapped Kenneth A. Rosen, Cassandra Porter, Esq.,
and Nicholas B. Vislocky, Esq., at Lowenstein Sandler as counsel.
The Debtors have engaged Development Specialists, Inc., as
financial advisor, and BMC Group Inc. as claims and notice agent.



BIOLITEC INC: Wins 2-Year Injunction Against Biolitec AG, Biomed
----------------------------------------------------------------
Melanie L. Cyganowski -- as Chapter 11 Trustee for the estate of
Biolitec, Inc. -- and AngioDynamics, Inc., applied for an order to
show cause with temporary restraints against Biolitec U.S., Inc.
("New Biolitec"), Biolitec AG, Biolitec Medical Devices, Inc.,
Biomed Technology Holdings Ltd., CeramOptec Industries, Inc.,
Biolitec Holding US, Inc., Biolitec FZ LLC, Wolfgang Neuberger,
Jack Furcht, Scott Cote, Cemal Sagnak, Damian Plange, John Doe and
Jane Doe.  Based on evidence indicating that the Defendants may
have violated the Bankruptcy Court's order approving the sale of
substantially all of the Debtor's assets, including its customer
lists, historical customer files, and goodwill, by soliciting sales
from former customers of the Debtor, the Court granted the
Application over the Defendants' objection.  The temporary
restraints enjoined the Defendants from soliciting or contacting
the Debtor's former customers.

The Defendants moved to dissolve or modify the temporary
restraining order. With the consent of the Plaintiffs, the order
was amended to exclude restraints against contact with the Debtor's
former non-vein customers.

Evidentiary hearings on the parties' motions regarding preliminary
injunctive relief were conducted with the Court holding the TRO in
place pending the issuance of an opinion.  It was subsequently
agreed that, pursuant to Federal Rule of Civil Procedure 65(a)(2),
the evidentiary hearings would constitute a trial on the merits of
AngioDynamics's claims against the Defendants.

The Plaintiffs now seek a permanent injunction restraining the
Defendants from contacting or doing business with the Debtor's
former vein customers for a period of two years following the entry
of injunctive relief.  They argue that the Defendants'
establishment of a new Biolitec entity for the purpose of
continuing the Debtor's business after the sale of substantially
all of the Debtor's assets violated the Court's sale order and
applicable law, causing AngioDynamics irreparable harm. Conversely,
the Defendants argue that their conduct complied with this Court's
order because AngioDynamics did not purchase the exclusive right to
the Debtor's customer information.  They argue further that
injunctive relief is inappropriate because it will deprive some of
the Debtor's former customers of the freedom to purchase Biolitec
products and force them to purchase AngioDynamics's competing
endovenous laser system and fibers, which they claim are not
equivalent.  Finally, as a threshold issue, the Defendants argue
that the Court lacks jurisdiction over the instant adversary
proceeding, which they maintain is solely a dispute between
non-debtor parties that involves assets transferred out of the
bankruptcy estate pursuant to an asset purchase agreement.

In a Jan. 22, 2015 Opinion available at http://is.gd/L5GXLFfrom
Leagle.com, Bankruptcy Judge Donald H. Steckroth granted the
Plaintiffs' request for preliminary and permanent injunctive
relief.  The restraints provided for in the TRO are made permanent
for a period of two years following entry of the Court's Order.

The case before the Bankruptcy Court is, MELANIE CYGANOWSKI, as
Chapter 11 Trustee for Biolitec, Inc., and ANGIODYNAMICS, INC.
Plaintiffs, v. BIOLITEC U.S. INC.; BIOLITEC AG; BIOLITEC MEDICAL
DEVICES, INC.; BIOMED TECHNOLOGY HOLDINGS LTD.; CERAMOPTEC
INDUSTRIES, INC.; BIOLITEC HOLDING US, INC.; BIOLITEC FZ LLC;
WOLFGANG NEUBERGER; JACK FURCHT; SCOTT COTE; CEMAL SAGNAK; DAMIAN
PLANGE; JOHN DOE and JANE DOE Defendants, Adv. No. 13-01883
(DHS)(Bankr. D.N.J.).

AngioDynamics, Inc., is represented by:

     Joseph Zagraniczny, Esq.
     Stephen A. Donato, Esq.
     Sara C. Temes, Esq.
     BOND, SCHOENECK & KING, PLLC
     One Lincoln Center
     110 West Fayette Street
     Syracuse, NY 13202
     Tel: (315) 218-8220
     Fax: (315) 218-8100
     E-mail: jzagraniczny@bsk.com
             sdonato@bsk.com
             stemes@bsk.com

          - and -

     Douglas J. McGill, Esq.
     WEBBER MCGILL LLC
     760 Route 10, Suite 104
     Whippany, NJ 07981

Biolitec, Inc., is represented by:

     David Merrill Posner, Esq.
     OTTERBOURG, STEINDLER, HOUSTON & ROSEN, P.C.
     230 Park Avenue
     New York, NY 10169-0075
     Tel: 212-661-9100
     Fax: 212-682-6104

          - and -

     Brian T. Crowley, Esq.
     John Michael McDonnell, Esq.
     MCDONNELL CROWLEY, LLC
     115 Maple Avenue, Suite 201
     Red Bank, New Jersey 07701
     Tel: 732-383-7233
     Fax: 732-383-7531
     E-mail: bcrowley@mcdonnellcrowley.com
             jmcdonnell@mcdonnellcrowley.com

Co-Counsel for Biolitec AG and Related Parties are represented by:

     Joseph J. DiPasquale, Esq.
     Henry M. Karwowski, Esq.
     TRENK, DIPASQUALE, DELLA, FERA & SODONO, P.C.
     347 Mount Pleasant Avenue #300
     West Orange, NJ 07052
     Tel:(973) 243-8600

          - and -

     Edward Griffith, Esq.
     THE GRIFFITH FIRM
     45 Broadway, Suite 2200
     New York, NY

                        About Biolitec Inc.

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

Biolitec, Inc., filed a Chapter 11 petition (Bankr. D.N.J. Case
No. 13-11157) on Jan. 22, 2013, to stop competitor AngioDynamics
Inc. from collecting $23 million it won in a breach of contract
lawsuit.  Brian K. Foley signed the petition as chief operating
officer.  In its schedules, the Debtor listed $8.99 million in
assets and $46.3 million in liabilities.



CAESARS ENTERTAINMENT: Analyst Says Delaware Case Could Be Lengthy
------------------------------------------------------------------
A Delaware case for Caesars Entertainment Operating Company, Inc.,
could be lengthy and more contentious, Tom Hals at Reuters reports,
citing Gimme Credit analyst Kim Noland.  

Reuters quoted Ms. Noland as saying, "Not only could the Delaware
venue assist the claims of the junior creditors, it might cause the
restructuring agreement that CEOC has cobbled together with a
majority of first-lien bondholders to unravel."

The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware is yet to decide on the venue of CEOC's bankruptcy
case, Reuters relates.

According to Reuters, Judge Gross said he will read his ruling at
11:00 a.m. on Wednesday, on whether the case should proceed in
Chicago -- which would be a victory for Caesars private equity
backers Apollo Global Management and TPG Capital -- or stay in
Delaware, where a group of hedge fund creditors led by Appaloosa
Management want the bankruptcy.  Judge Gross heard the final
arguments on Tuesday, Randall Chase at The Associated Press adds.


Everyone is best served through a settlement with creditors, which
would be easier to achieve under the Chicago legal standard,
otherwise, "we litigate till the end of days," Reuters states,
citing David Zott, Esq., an attorney for CEOC.

                    About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino

companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.  Harrah's
announced its re-branding to Caesar's in mid-November 2010.  

Caesars Entertainment reported a net loss of $2.93 billion in 2013,
as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 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.  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 -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- 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 debt 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.

As reported by the Troubled Company Reporter on Jan. 28, 2015, the
Ontario Superior of Court of Justice said the Chapter 11 proceeding
of Caesars Entertainment Operating Company Inc. and its
debtor-affiliates are "foreign main" proceedings under Section 45
of the Companies' Creditors Arrangement Act.


CAESARS ENTERTAINMENT: Wilmington Trust Named Successor Trustee
---------------------------------------------------------------
Caesars Entertainment Operating Company, Inc., a majority owned
subsidiary of Caesars Entertainment Corporation, received a notice
from Wilmington Trust, National Association that holders of a
majority in principal amount of 10.75% Senior Notes due 2016,
issued pursuant to the Indenture, dated as of Feb. 1, 2008, among
CEOC, the guarantors party thereto and U.S. Bank National
Association, as trustee, have appointed Wilmington Trust as
successor trustee under the Indenture.  The Notice indicates that
the appointment has been accepted and is effective.

          Expiration of Consent Process for Bank Lenders

CEOC announced the expiration of the process for seeking consents
from lenders under CEOC's credit agreement to support restructuring
of CEOC's outstanding obligations and liabilities, which included
consenting to the form of Restructuring Support and Forbearance
Agreement that was provided to the lenders.  The consent period for
the Bank RSA expired at 5:00 p.m., New York City time, on Jan. 26,
2015, and the Bank RSA has not become effective per its terms.  The
expiration of the consent period for the Bank RSA does not affect
the Third Amended and Restated Restructuring Support and
Forbearance Agreement, dated as of
Jan. 14, 2015, among CEC, CEOC and holders of claims in respect of
CEOC's first lien notes, which remains in effect since becoming
effective per its terms on Jan. 9, 2015.

                   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.  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 -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- 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 debt 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.


CAREFREE WILLOWS: Says AG's Interests Adequately Protected
----------------------------------------------------------
Carefree Willows, LLC, responded to senior secured creditor AG/ICC
Willows Loan Owners, L.L.C.'s opposition to its motion to use cash
collateral of AG.

According to the Debtor, AG is entitled to adequate protection for
the use of the net rents and was satisfied by the replacement lien
on future rents (which continue to increase), and the payment of
$130,000 per month.  The Debtor added that AG is not entitled to
all of the net income of the Debtor, nor does it have authority to
dictate how the Debtor may spend income in excess of the amount
necessary to adequately protect AG.  Further, the Debtor stated
that the cash collateral order is interim and modifiable.

AG, in its opposition, related that the Debtor's proven history of
bad faith conduct was reason to deny it any use of AG's cash
collateral beyond that necessary for operating and maintaining the
property.

                 Modified Cash Collateral Motion

As reported in the Troubled Company Reporter on Jan. 5, 2015, the
Debtor asked the Bankruptcy Court to modify the order granting
authority to use cash collateral in which AG asserts an interest.

The Debtor uses the cash collateral in relation to the operation
of a retirement facility at 3250 S. Town Center Drive, Las Vegas,
Nevada.

The Debtor said that the modification is necessary because, among
other things, AG is receiving far in excess of what is required to
protect the Debtor's use of cash collateral.  The operating cash
flow of the Debtor has been and continues to increase
substantially.  Whereas Union Bank was receiving $75,000 per month
prepetition, and AG was receiving $115,000 per month as of the
date of the cash collateral order, AG is now receiving $230,000
per month.

In this relation, the Debtor requested that the order be modified
to provide that:

   A. the Debtor is not required to make monthly payments to AG in
order to adequately protect for the use of cash collateral; and

   B. AG does not have a security interest in all of the Debtor's
income.

AG is represented by:

         Ali M. M. Mojdehi, Esq.
         Janet D. Gertz, Esq.
         Allison M. Rego, Esq.
         COOLEY LLP
         4401 Eastgate Mall
         San Diego, CA 92121
         Tel: (858) 550-6000
         Fax: (858) 550-6420
         E-mail: amojdehi@cooley.com
                 jgertz@cooley.com
                 arego@cooley.com

                     About Carefree Willows LLC

Carefree Willows LLC is the owner of a 300-unit senior housing
complex, located 3250 S. Town Center Drive, in Las Vegas, Nevada.
Carefree Willows filed a Chapter 11 petition (Bankr. D. Nev. Case
No. 10-29932) on Oct. 22, 2010.  The Debtor disclosed $30.6 million
in assets and $36.5 million in liabilities as of the Chapter 11
filing.

The Law Offices of Alan R. Smith, in Reno, Nevada, serves as
counsel to the Debtor.  AG/ICC Willows Loan Owner, LLC, is
represented in the case by Ali M.M. Mojdehi, Esq., Allison Rego,
Esq., Janet Dean Gertz, Esq., at COOLEY LLP.



CENTRE PROPERTIES: Wants to Reorganize Two Area Strip Centers
-------------------------------------------------------------
Scott Olson at IBJ.com reports that Centre Properties filed for
Chapter 11 bankruptcy protection on Jan. 20, 2015, to reorganize
the assets of two of its area strip centers, West 38th Street Plaza
and East Washington Centre in Indianapolis, Indiana.

According to court documents, the Company listed both assets and
liabilities of $1 million to $10 million for the two strip
centers.

Centre Properties is an Indianapolis-based retail developer.


CHOU TUNG WANG: Cal. Judge Clarifies Ruling in China Export Suit
----------------------------------------------------------------
In the case, CHINA EXPORT FINANCE LIMITED, Plaintiff, v. SHOU TUNG
WANG, Defendant, ADV. PRO. NO. 14-05078-ASW (Bankr. N.D. Cal.),
Shou Tung Wang sought to alter or amend the Bankrutpcy Court's
Tentative Decision issued on November 13, 2014, and made final at a
hearing on that same date.  China Export Finance Limited opposed.

The China Export lawsuit is an adversary proceeding filed in the
Chapter 11 case, In re Chou Tung Wang, Case No. 14-50146-ASW
(Bankr. N.D. Cal.).  In the Decision, the Bankruptcy Court stated
its reasons for denying Wang's motion for summary judgment seeking
to avoid CEFL's judicial lien as impairing Wang's homestead. The
Court found that there was a genuine issue of material fact as to
the validity of the seven deeds of trust recorded after the
effective date of CEFL's judgment lien. In the course of analyzing
the motion, the Court stated: "CEFL contends that these deeds of
trust were fraudulently granted in an attempt to hinder and delay
CEFL's ability to collect its judgment. If that is proven, and
those liens are invalidated, CEFL's judicial lien would not be
subject to avoidance under [Sec.] 522(f) because it would no longer
impair Wang's homestead exemption."

Wang asks the Court to alter or delete the last quoted sentence.
Wang contends that the cited language conflicts with Wang's
uncontested computation in his lien avoidance motion that even if
all the individual deeds of trust were excluded from the avoidance
calculation, CEFL's judgment lien is secured in the amount of
$30,994.

The Court agrees that the Decision should be amended; the phrasing
of the sentence does not correctly reflect the Court's intention.
The sentence was not intended to be a finding by the Court, but a
statement of CEFL's position.

CEFL contends that collateral estoppel bars reconsideration and
that the motion does not meet the standard for a motion for
reconsideration. CEFL also disputes Wang's position that CEFL's
lien may still be avoided if the disputed liens are avoided.

None of these arguments is applicable, given that the phrasing of
the Decision was an oversight by the Court and does not represent
the Court's intention. It would be manifest error of fact and law
to leave the erroneous language in the Court's Decision. CEFL's
objections are overruled.

"To be clear, the Court is not making a finding as to the
avoidability of CEFL's lien. If and when the validity of the
disputed liens is litigated, the Court will consider the proper
calculation to determine whether CEFL's lien impairs Wang's
homestead exemption," said Bankruptcy Judge Arthur S. Weissbrodt in
his Jan. 21, 2015 Memorandum Decision available at
http://is.gd/4TPJ5Efrom Leagle.com.


CITGO HOLDCO: Fitch Assigns 'B-' IDR; Outlook Stable
----------------------------------------------------
Fitch Ratings has assigned a 'B-' rating to CITGO Holding, Inc.'s
(CITGO Holdco) IDR and an initial rating of 'B+/RR2' to CITGO
Holdco's Senior secured term loan and notes.  The Rating Outlook
for CITGO Holdco is Stable.

CITGO Holdco is expected to raise approximately $2.5 billion in
term loan and high yield notes.  Proceeds from the notes will be
used primarily to fund a special one-time dividend to ultimate
parent PDVSA, and fund a debt service reserve to support the
current transaction.

KEY RATINGS DRIVERS

CITGO Holdco's ratings are supported by the midstream security
pledged to debt at Holdco; other credit enhancements including
six-month debt service reserve accounts (which expand to 12 months
prior to making any distributions up to PDVSA); the strong covenant
protections in place at CITGO Petroleum Corp, which limit the
ability of PDVSA to lever that business up and impair its ability
to fund Holdco debt; as well as the solid long-term position of
CITGO's refining business, which continues to benefit substantially
from the shale revolution.

As modeled in Fitch's recovery, there is also decent residual value
available to Holdco debtholders.  In the event of liquidation, and
after CITGO Petroleum bondholders are repaid, Fitch expects that
this value would flow to Holdco bondholders given their structural
superiority to other entities in the PDVSA chain.  This results in
superior recovery prospects of RR2(+2 notches above the IDR).

CREDIT CONCERNS

Credit concerns include the structural subordination that Holdco
debt will have to debt at CITGO Petroleum Corp; the dependence of
Holdco debt upon distributions from the volatile refining business;
and Holdco's closer linkage to a financially weaker parent, PDVSA
(rated 'CCC; Stable Outlook by Fitch') when compared to its parent,
CITGO Petroleum Corp.  Fitch downgraded CITGO Petroleum Corporation
to 'B' on January 9th, in large part due to this linkage.

UNDERLYING ASSET QUALITY AT CITGO STRONG

CITGO's ratings are supported by the scale and quality of the
company's refining assets, with three high-complexity refineries
consisting of approximately 749,000 barrels per day (bpd) of
refining capacity on the Gulf Coast and Midcontinent; significant
access to price-advantaged Canadian and U.S. shale crudes,
resulting in strong financial performance and free cash flow (FCF)
before dividends; export capability out of the Gulf that allows it
to access higher growth markets abroad; and strong covenant
protections in the senior indenture, which limit the ability of
CITGO's parent to dilute CITGO's credit quality.

STRONG COVENANT PROTECTIONS

It is important to note that there are relatively robust covenant
protections in CITGO Petroleum Corp's secured debt which restrict
the ability of its parent to dilute CITGO's credit quality.  These
protections not only justify the rating differential between the
two entities, they also benefit CITGO Holdco by limiting the
ability of PDVSA to lever up the main source of Holdco's funds for
debt repayment.

Elements of this ring-fencing include a debt/cap maximum of 60%,
with a lower 55% test for purposes of making distribution to the
parent, and a restricted payment basket which limits the ability of
CITGO to make distributions to its parent.  There are no cross
defaults or guarantees between CITGO and PDVSA, CITGO's assets are
U.S. domiciled, and there are two Delaware Corporations between
PDVSA and CITGO Petroleum Corporation.

Fitch also believes it would be challenging for CITGO Petroleum
Corp to refinance its debt and thereby escape these covenants.  In
July of 2014, CITGO completed a major refinancing of virtually all
of its debt, which shares pari passu in the same security and has
the same covenant package (revolver, term loan, notes, and fixed
rate IRBs).

RATINGS SENSITIVITIES

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

   -- Improved ratings at CITGO Delaware Corp or its indirect
      parent, PDVSA; stronger structural separations between CITGO

      and PDVSA leading to a wider notching between the two; or
      enhanced asset coverage pledged at the CITGO Holdco level.

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

   -- Further weakening in credit quality at the parent level;
   -- A sustained operational problem at one or more refineries;
   -- Weakening or elimination of key covenant protections
      contained in the senior secured debt through refinancing or
      other means.

Note that this last action in particular could weaken the rationale
for the notching between CITGO and PDVSA, which would negatively
impact the ratings at CITGO Holdco.



CLOUDEEVA INC: Digital4nx Group OK'd as Forensic Computer Advisor
-----------------------------------------------------------------
The U.S. Bankruptcy Court authorized Stephen Gray, Chapter 11
trustee for Cloudeeva, Inc., et al., to employ Digital4nx Group,
Ltd., as his forensic computer advisor.

According to the Trustee, the employment of Digital is necessary in
acquiring, preserving, and analyzing all electronically stored data
found on storage devices belonging to the Debtors' bankruptcy
estates.

Digital is expected to:

   a. maintain electronic data for litigation purposes;

   b. retrieve lost data to assist in locating potential assets;
and

   c. secure all electronic storage devices and databases.

Digital will bill the Debtors' bankruptcy estates on an hourly
rate ranging from $285 to $300.  Upon entry of the retention
order, a retainer of $25,000 will be paid to counsel for Digital,
to be held in trust pending submission of a fee statement by
Digital.

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

The Trustee is represented by:

         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, 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
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.



COUTURE HOTEL: Inks Deal to Settle Armed Forces Bank Claims
-----------------------------------------------------------
Couture Hotel Corp. has filed a motion seeking court approval for a
deal that would resolve its dispute with Armed Forces Bank, N.A.
over the management of its two hotels in Las Vegas, Nevada.

The deal would resolve the issue over the appointment of a receiver
to manage the hotels, which the company purchased from Armed Forces
Bank's affiliate Nevada New River Return, LLC.

The bank extended a $6.65 million loan to Couture Hotel in
connection with its purchase of the hotels.  In August last year,
Armed Forces Bank filed a complaint in a Nevada district court in
which it sought the appointment of a receiver to manage the
hotels.

The agreement includes a proposed sale of the Las Vegas hotels to
the highest bidder under Section 363 of the Bankruptcy Code.  Armed
Forces Bank agreed to credit bid the full amount of its debt, thus
eliminating any possibility of an unsecured deficiency claim
against the company.  

The agreement also resolves mutual claims between the parties,
according to court filings.

                        About Couture Hotel

Couture Hotel Corporation owns and operates four hotels: a Wyndham
Garden Inn in Dallas, Texas, consisting of 356 rooms and remodeled
in 2013; a Howard Johnson in Corpus Christi, Texas, consisting of
140 rooms and remodeled in 2012; a Howard Johnson in Las Vegas,
Nevada, consisting of 110 rooms and remodeled in 2012; and an
independent hotel in Las Vegas, Nevada (formerly branded as a Value
Place), consisting of 121 rooms and also remodeled in 2012.

The Las Vegas hotels are located at one of the entrances to Nellis
Air Force base in North Las Vegas.  The Debtor owns the real
property and improvements, as well as the franchise rights to the
hotels (except for Las Vegas Value Place).

The Company sought Chapter 11 protection (Bankr. N.D. Tex. Case No.
14-34874) in Dallas, Texas, on Oct. 7, 2014.  The case is assigned
to Judge Barbara J. Houser.  The Debtor has tapped Mark Sean
Toronjo, Esq., at Toronjo & Prosser Law, as counsel.

The Debtor, in an amended schedules, disclosed $20.8 million in
assets and $27.8 million in liabilities as of the Chapter 11
filing.

No creditors' committee or other official committee been appointed
in the case.


COUTURE HOTEL: May Hold Auction for Las Vegas Hotels Feb. 6
-----------------------------------------------------------
Couture Hotel Corp. said it will hold an auction on Feb. 6 if it
receives an offer for its Las Vegas hotels from another buyer.

The deadline for submitting bids has also been moved to Jan. 30,
the company said in a filing it made in U.S. Bankruptcy Court for
the Northern District of Texas.

The company owns hotels in Las Vegas, Nevada, which it bought from
Nevada New River Return LLC, an affiliate of Armed Forces Bank,
N.A.  The bank extended a $6.65 million loan to the company in
connection with its purchase of the hotels commonly known as the
Value Place Extended Stay Motel and Howard Johnson Hotel.

The Armed Forces Bank has offered to purchase the hotels through a
credit bid of $6.767 million.  Its offer will serve as the stalking
horse bid or the lead bid at the auction.  

Under its sale agreement with the bank, Couture Hotel is required
to complete the sale on or before March 1, at 10:00 a.m. (Central),
according to court filings.  A copy of the agreement is available
for free at http://is.gd/yLsiZs
  
Judge Barbara Houser will hold a hearing on Feb. 9 to consider the
sale of the Las Vegas hotels to the winning bidder.  

Meanwhile, the proposed sale drew flak from Value Place Franchise
Services LLC and Howard Johnson International, Inc.

Value Place, which has a license agreement with Couture Hotel,
expressed concern its intellectual property, including the trade
name "Value Place," will be sold to the winning bidder.  

Howard Johnson expressed similar concern, saying it fears that its
rights under a franchise agreement with Couture Hotel will be
included in the sale.    

                        About Couture Hotel

Couture Hotel Corporation owns and operates four hotels: a Wyndham
Garden Inn in Dallas, Texas, consisting of 356 rooms and remodeled
in 2013; a Howard Johnson in Corpus Christi, Texas, consisting of
140 rooms and remodeled in 2012; a Howard Johnson in Las Vegas,
Nevada, consisting of 110 rooms and remodeled in 2012; and an
independent hotel in Las Vegas, Nevada (formerly branded as a Value
Place), consisting of 121 rooms and also remodeled in 2012.
The Las Vegas hotels are located at one of the entrances to Nellis
Air Force base in North Las Vegas.  The Debtor owns the real
property and improvements, as well as the franchise rights to the
hotels (except for Las Vegas Value Place).

The Company sought Chapter 11 protection (Bankr. N.D. Tex. Case No.
14-34874) in Dallas, Texas, on Oct. 7, 2014.  The case is assigned
to Judge Barbara J. Houser.  The Debtor has tapped Mark Sean
Toronjo, Esq., at Toronjo & Prosser Law, as counsel.

The Debtor, in an amended schedules, disclosed $20,775,361 in
assets and $27,794,708 in liabilities as of the Chapter 11 filing.

No creditors' committee or other official committee been appointed
in the case.


DAHL'S INC: Hy-Vee Eyeing Pharmacy Assets of Three Stores
---------------------------------------------------------
Patt Johnson at The Des Moines Register reports that Hy-Vee Inc.
wants to acquire the pharmacy assets of three of the Dahl's Foods
stores.

The Des Moines Register explains that Hy-Vee is interested in the
pharmacy-related assets of the E.P True store, and the stores at
3400 E. 33rd Street in Des Moines and 8700 Hickman Road in Clive.

Hy-Vee said in a statement, "We have expressed interest in some of
the Debtor's pharmacy assets, but until the bankruptcy court issues
a definitive ruling we can't confirm anything."

                        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 INC: Kum & Go Bids for Store in West Des Moines
------------------------------------------------------
Court documents say that Kum & Go LC has placed a bid for the
Dahl's Foods store at 50th Street and E.P. True Parkway in West Des
Moines, Iowa.  

Kent Darr at Business Record reports that a closed auction for
Dahl's assets was conducted over two rounds of bidding that
concluded Jan. 23, 2015.  The report says that Bankruptcy Judge
Anita Shodeen in Des Moines will hold a hearing on Friday to decide
on the offers from Kum & Go and other bidders, including an amended
bid from stalking horse bidder Associated Wholesale Grocers Inc.

                        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.


DELUXE CORP: S&P Affirms 'BB' CCR; Outlook Remains Stable
---------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings on U.S.-based Deluxe Corp., including the 'BB' corporate
credit rating.  The rating outlook remains stable.

The rating affirmation follows S&P's revision of Deluxe's financial
risk profile to "modest" from "intermediate" because the company's
adjusted funds from operations (FFO) to debt improved to about 50%
as of year-end 2014 from 40% as of year-end 2013, which is
consistent with the indicative 45%-60% ratio that S&P associates
with a "modest" financial risk profile.  "We expect adjusted
leverage to remain below the current level of about 1.4x over the
next two years," said Standard & Poor's credit analyst Heidi
Zhang.

At the same time, S&P revised its comparable ratings analysis on
Deluxe to "negative" from "neutral."  Since 52% of Deluxe's
business is still in check printing, a sector in secular decline,
S&P views its business risk as less favorable than that of its
typical 'BB' rated peers.  This revision also reflects the
possibility that Deluxe will engage in more debt-financed
acquisitions to achieve its goal of growing its noncheck-related
Marketing Solutions and Other Services segment, which accounted for
30% of revenue in the fourth quarter of 2014.

"The stable outlook reflects our expectation that Deluxe will
maintain its stable operating performance and current credit
metrics, which provide it with sufficient flexibility to
accommodate potential weakness in its operating performance and to
fund some acquisitions," said Ms. Zhang.

S&P could lower the rating over the next year if the company adopts
a more ggressive financial policy or if it experiences intensified
structural pressures that increase the likelihood of leverage
rising over 2x on a sustained basis.  Factors that could contribute
to such a scenario include large debt-financed acquisitions,
significant share repurchases, higher-than-expected check volume
declines, or pressure on the Marketing Solutions and Other Services
segment.

Although highly unlikely over the next year, S&P could raise the
rating if Deluxe continues to successfully diversify its business
away from check printing into profitable businesses with solid
growth prospects, while preserving its EBITDA margin and credit
metrics.



DENDREON CORP: Extends Bid Deadline to Jan. 29
----------------------------------------------
Dendreon Corporation on Jan. 27 disclosed that it would be
extending the bid deadline for interested parties to submit
qualified bids to participate in an auction for the Company's
assets from Jan. 27, 2015 at 5:00 p.m. Eastern Time to Jan. 29,
2015 at 5:00 p.m. Eastern Time to continue discussions with
potential bidders.

The Company will continue to operate in the ordinary course and its
top priority continues to be producing and delivering PROVENGE(R)
(sipuleucel-T) without interruption.

Court documents and additional information are available through
Dendreon's claims agent, Prime Clerk, at
https://cases.primeclerk.com/dendreon or 844-794-3479.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as the
Company's legal advisor, AlixPartners is serving as its financial
advisor and Lazard is serving as its investment bank.

                     About Dendreon Corp

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

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

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

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

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

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


DENDREON CORP: To Move Deadline for Submission of Bids to Jan. 29
-----------------------------------------------------------------
Dendreon Corporation said on Jan. 27, 2015, that it would be
extending the bid deadline for interested parties to submit
qualified bids to participate in an auction for the Company's
assets to Jan. 29, 2015, at 5:00 p.m. Eastern Time to continue
discussions with potential bidders.  The bid deadline is currently
Jan. 27, 2015, at 5:00 p.m. Eastern Time.

The Company will continue to operate in the ordinary course and its
top priority continues to be producing and delivering PROVENGE
(sipuleucel-T) without interruption.

Jacob Watson at Microcap Daily relates that the Company is holding
its gains well after making a move up on accelerating volume after
the Company disclosed a strong Commercial Start to 2015.

                       About Dendreon Corp

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

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

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

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

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

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

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


DUNE ENERGY: Eos Tender Offer Further Extended Until Jan. 30
------------------------------------------------------------
In connection with the previously announced Agreement and Plan of
Merger, dated Sept. 17, 2014, between Dune Energy, Inc., Eos Petro,
Inc., and  Eos Merger Sub, Inc., Eos and Dune have agreed to extend
the expiration of the tender offer to acquire all of the
outstanding shares of common stock of Dune to Friday, Jan. 30,
2015, at 12:00 Midnight, New York City time to allow the parties
additional time to negotiate revised terms to the Merger
Agreement.

The tender offer was previously scheduled to expire on Jan. 23,
2015 at 12:00 Midnight, New York City time.  The depositary for the
tender offer has advised that, as of the close of business on Jan.
23, 2015, a total of approximately 72,301,271 shares or 98.75679%
of outstanding shares had been validly tendered and not properly
withdrawn pursuant to the tender offer, which is sufficient to
satisfy the minimum tender condition contemplated by the Merger
Agreement.

Eos has informed Dune that, due to the recent severe decline in oil
prices, Eos cannot proceed to complete the merger and tender
described in the Merger Agreement, at least not on the terms
originally negotiated.  Because of the severe decline in oil
prices, Eos' sources of capital for the merger and tender offer
were withdrawn.  Dune and Eos are currently in the process of
negotiating potential revised terms for the Merger Agreement upon
which the merger and tender offer could still be completed.  Such
revised terms may include, but are not limited to, revising the
$0.30 per share price for the shares of Dune common stock tendered
for purchase in the tender offer.  If the parties are able to agree
on revised terms, the tender offer will remain open for a minimum
of ten business days from the date those revised terms are made
publicly available, in order to give Dune's investors adequate time
to consider the revised terms.  However, there is no assurance that
the parties will be able to agree on revised terms. If those terms
are agreed upon, the parties do not expect the revised per share
price for the shares of Dune common stock tendered for purchase in
the tender offer to be more than nominal.

                         About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/  

-- is an independent energy company based in Houston, Texas.
Since May 2004, the Company has been engaged in the exploration,
development, acquisition and exploitation of natural gas and crude
oil properties, with interests along the Louisiana/Texas Gulf
Coast.  The Company's properties cover over 90,000 gross acres
across 27 producing oil and natural gas fields.

Dune Energy reported a net loss of $47 million in 2013, a net
loss of $7.85 million in 2012 and a net loss of $60.4 million in
2011.  The Company's balance sheet at Sept. 30, 2014, showed $229
million in total assets, $144 million in total liabilities and
$85.2 million in total stockholders' equity.

"Our primary sources of liquidity are cash provided by operating
activities, debt financing, sales of non-core properties and
access to capital markets.  As previously discussed, the Company
is now subject to a Forbearance Agreement and Fourth Amendment to
the Credit Agreement.  Under the terms of this agreement, we have
a borrowing base set at $40 million.  Pursuant to the terms of the
agreement, so long as we remain in compliance with the terms of
the agreement, Dune has $1 million of borrowing capacity
available.  Nevertheless, this will not provide sufficient
liquidity to continue normal operations absent a longer-term
solution prior to the end of the forbearance period.  "These and
other factors raise substantial doubt about our ability
to continue as a going concern beyond Dec. 31, 2014, should the
Merger with Eos not occur," the Company stated in its quarterly
report for the period ended Sept. 30, 2014.


EPAZZ INC: KBM Worldwide Reports 9.9% Stake as of Jan. 23
---------------------------------------------------------
KBM Worldwide, Inc., disclosed in an amended Schedule 13G filed
with the U.S. Securities and Exchange Commission that as of Jan.
23, 2015, it beneficially owned 3,402,513 shares of common stock of
Epazz Inc. representing 9.99 percent of the shares outstanding
based on the total of 34,059,195 outstanding shares of Common
Stock.  A copy of the regulatory filing is available for free at
http://is.gd/QY0ztD

                          About EPAZZ Inc.

Chicago, Ill.-based EPAZZ, Inc., was incorporated in the State of
Illinois on March 23, 2000, to create software to help college
students organize their college information and resources.  The
idea behind the Company was that if the information and resources
provided by colleges and universities was better organized and
targeted toward each individual, the students would encounter a
personal experience with the college or university that could lead
to a lifetime relationship with the institution.  This concept is
already used by business software designed to retain relationships
with clients, employees, vendors and partners.

Epazz reported a net loss of $3.37 million on $750,100 of revenue
for the year ended Dec. 31, 2013, as compared with a net loss of
$1.90 million on $1.19 million of revenue for the year ended
Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $2.38 million in total
assets, $4.29 million in total liabilities and a $1.91 million
total stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has an accumulated deficit of $7.50 million and a
working capital deficit of $1.28 million, which raises substantial
doubt about its ability to continue as a going concern.

                        Bankruptcy Warning

The Company said in the 2013 Annual Report that it will need to
raise additional funds to continue to operate as a going concern.

"We cannot be certain that any such financing will be available on
acceptable terms, or at all, and our failure to raise capital when
needed could limit our ability to continue and expand our
business.  We intend to overcome the circumstances that impact our
ability to remain a going concern through a combination of the
commencement of additional revenues, of which there can be no
assurance, with interim cash flow deficiencies being addressed
through additional equity and debt financing.  Our ability to
obtain additional funding for the remainder of the 2014 year and
thereafter will determine our ability to continue as a going
concern.  There can be no assurances that these plans for
additional financing will be successful.  Failure to secure
additional financing in a timely manner to repay our obligations
and supply us sufficient funds to continue our business operations
and on favorable terms if and when needed in the future could have
a material adverse effect on our financial performance, results of
operations and stock price and require us to implement cost
reduction initiatives and curtail operations.  Furthermore,
additional equity financing may be dilutive to the holders of our
common stock, and debt financing, if available, may involve
restrictive covenants, and strategic relationships, if necessary
to raise additional funds, and may require that we relinquish
valuable rights.  In the event that we are unable to repay our
current and long-term obligations as they come due, we could be
forced to curtail or abandon our business operations, and/or file
for bankruptcy protection; the result of which would likely be
that our securities would decline in value and/or become
worthless."


EXELIXIS INC: BlackRock Reports 7.4% Stake as of Dec. 31
--------------------------------------------------------
BlackRock, Inc., reported in an amended Schedule 13G filed with the
U.S. Securities and Exchange Commission that as of Dec. 31, 2014,
it beneficially owned 14,495,656 shares of common stock of
Exelixis Inc. representing 7.4 percent of the shares outstanding.
A full-text copy of the regulatory filing is available at:

                        http://is.gd/0l0RQ6

                         About Exelixis Inc.

Headquartered in South San Francisco, California, Exelixis, Inc.,
develops innovative therapies for cancer and other serious
diseases.  Through its drug discovery and development activities,
Exelixis is building a portfolio of novel compounds that it
believes has the potential to be high-quality, differentiated
pharmaceutical products.

The Company's balance sheet at Sept. 30, 2014, showed $384 million
in total assets, $442 million in total liabilities and
total stockholders' deficit of $58.5 million.

Exelixis reported a net loss of $245 million in 2013 following
a net loss of $148 million in 2012.


FANNIE MAE & FREDDIE MAC: Judge Sweeney Denies Gov't Bid for Stay
-----------------------------------------------------------------
The Honorable Margaret M. Sweeney denied a request by the
government to put Fairholme Capital Management's lawsuit in the
U.S. Court of Federal Claims, contesting the legality of the
quarterly sweep of Fannie Mae and Freddie Mac's earnings, on ice
pending review of Judge Lamberth's decision from related lawsuits
in the U.S. District Court for the District of Columbia by the D.C.
Circuit.  Wednesday's bench ruling by Judge Sweeney means that the
Treasury Department and Federal Housing Finance Administration will
have to continue producing relevant jurisdictional discovery
material to Fairholme and other Fannie and Freddie shareholders
(including Perry Capital and Pershing Square) as they prepare their
responses to the government's motion to dismiss their lawsuits
pending in the Court of Federal Claims.

Judge Sweeney indicated at Wednesday's hearing that she will be
issuing a written opinion shortly denying the government's request
to stay the shareholders' cases that claim the government
confiscated private property without just compensation in violation
of the Fifth Amendment.

On the news of Judge Sweeney's decision in favor of the
shareholders, Fannie and Freddie securities climbed 5% to 10% in
high-volume trading Wednesday.

Fannie and Freddie shareholders are also awaiting a decision by the
Honorable Robert W. Pratt in the U.S. District Court for the
Southern District of Iowa on the government's motion to dismiss
Continental Western's lawsuit challenging the GSE profit sweep.
Some courtroom observers believe that Judge Pratt's delay in
publishing his decision -- which is uncharacteristic based on a
review of Judge Pratt's previous published decisions in other cases
over many years -- signals that he is unlikely to follow Judge
Lamberth's decision tossing the shareholders' lawsuits in the
District of Columbia and chart a new course for Continental
Western's lawsuit that leads to a trial if a negotiated settlement
among the stakeholders is impossible.

This week, Investors Unite will host a teleconference during which
Mark A. Calabria -- mcalabria@cato.org -- of the Cato Institute and
Michael H. Krimminger, Esq. -- mkrimminger@cgsh.com -- a partner at
Cleary Gottlieb Steen & Hamilton LLP, will release a new paper
which explains how the U.S. Treasury Department and the Federal
Housing Finance Agency (FHFA) have breached both the spirit and the
letter of the law in their administration of the conservatorship of
Fannie Mae and Freddie Mac.  These two gentlemen should know,
because they were intimately involved in the policy discussions
that led to the creation of the 2008 Housing and Economic Recovery
Act (HERA), which allowed for Fannie Mae and Freddie Mac to be
placed into conservatorship.  Mr. Calabria in his capacity as the
senior professional staff of the U.S. Senate Committee on Banking,
Housing and Urban Affairs, and Mr. Krimminger in his capacity in
policy leadership positions with the FDIC.  While with the FDIC,
Mr. Krimminger served in a number of roles including as FDIC
general counsel and Deputy to the Chairman for Policy.


FOUNDATION HEALTHCARE: Releases Preliminary Results for FY 2014
---------------------------------------------------------------
Foundation Healthcare, Inc., on Jan. 22, 2015, filed a preliminary
prospectus with the U.S. Securities and Exchange Commission
containing the following preliminary unaudited financial results
for the year ended Dec. 31, 2014.

Net patient service revenues in 2014 are expected to increase
between $12.8 million and $14.8 million over 2013, with the
increase being primarily attributable to growth in ancillary
services revenues.

Net income (loss) from continuing operations before income taxes in
2013 includes the impairment of goodwill associated with the
reverse acquisition related to legacy Graymark of $21.9 million and
gains associated with the El Paso Real Estate Transaction totaling
$11.1 million.  The Company initially recorded $21.9 million in
goodwill related to the reverse acquisition.  The Company then
determined the projected cash flows from the continuing operations
of the legacy Graymark business were not sufficient to support the
recorded goodwill.  The Company evaluated the fair value of the
goodwill subsequent to the reverse acquisition and determined the
acquired goodwill was fully-impaired.  On Aug. 30, 2013, the
Company completed the El Paso Real Estate Transaction which
resulted in gains of $7.1 million from the forgiveness of debt and
other liabilities and $4.0 million from the associated real estate
transaction.

                    About Foundation Healthcare

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

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

Foundation Healthcare reported a net loss attributable to
Foundation Healthcare common stock of $20.4 million on $93.1
million of revenues for the year ended Dec. 31, 2013, as compared
with net income attributable to Foundation Healthcare common stock
of $2.45 million on $53 million of revenues in 2012.

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


FOURTH QUARTER PROPERTIES 86: Section 341 Meeting Set for Feb. 25
-----------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Fourth Quarter
Properties 86, LLC, is scheduled for Feb. 25, 2015, at 1:00 p.m. in
Attorney Conference Room, 2nd Floor, Newnan.

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.

Fourth Quarter Properties 86, LLC, filed a Chapter 11 bankruptcy
petition (Bank. N.D. Ga. Case No. 15-10135) on Jan. 22, 2015.
Stanley E. Thomas signed the petition as manager.  The Debtor
estimated assets of $10 million to $50 million and liabilities of
$50 million to $100 million.  Ward Stone, Jr., at Stone & Baxter
LLP serves as the Debtor's counsel.


GELTECH SOLUTIONS: Amends Employment Agreement with Acting CEO
--------------------------------------------------------------
GelTech Solutions, Inc., approved an amendment to the employment
agreement of Mr. Peter Cordani, the Company's founder, acting chief
executive officer and chief technology officer, according to a
regulatory filing with the U.S. Securities and Exchange Commission.
In addition to his current salary, Mr. Cordani will receive 5% of
the first $2 million of revenue generated by the Company in 2015.
The amendment is effective as of Jan. 1, 2015.

                           About GelTech

Jupiter, Fla.-based GelTech Solutions. Inc., is a Delaware
corporation organized in 2006.  The Company markets four products:
(1) FireIce(R), a water soluble fire retardant used to protect
firefighters, structures and wildlands; (2) Soil2O(R) 'Dust
Control', its new application which is used for dust mitigation in
the aggregate, road construction, mining, as well as, other
industries that deal with daily dust control issues; (3)
Soil2O(R), a product which reduces the use of water and is
primarily marketed to golf courses, commercial landscapers and the
agriculture market; and (4) FireIce(R) Home Defense Unit, a system
for applying FireIce(R) to structures to protect them from
wildfires.

Salberg & Company, P.A., expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has net cash used in operating activities in 2014 of $5.13
million and has an accumulated deficit of $35.13 million at
June 30, 2014.

The Company reported a net loss of $7.11 million for the fiscal
year ended June 30, 2014, following a net loss of $5.22 million
for the fiscal year ended June 30, 2013.

As of Sept. 30, 2014, the Company had $1.35 million in total
assets, $2.78 million in total liabilities and a $1.43 million
total stockholders' deficit.


GRIDWAY ENERGY: Judge Extends Deadline to Remove Suits to April 6
-----------------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi has given Gridway Energy
Holdings, Inc., until April 6 to file notices of removal of
lawsuits involving the company and its affiliates.

                       About Gridway Energy

Gridway Energy Holdings, Inc., and its affiliates, including
Glacial Energy Holdings -- providers of electricity and natural Gas
in markets that have been restructured to permit retail competition
-- sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead
Case No. 14-10833) on April 10, 2014.

The Debtors have 200,000 electric residential customers and 55,000
gash residential customers across the U.S.  A large portion of the
customers' energy consumption and revenue is generated in the
northeast U.S., Ohio, Illinois and Texas (collectively accounting
for 80% of revenue), with the remaining portion coming from
California and other states.

The Debtors blamed the bankruptcy due to lower revenue brought by
increased market competition, which caused the Debtors to default
on certain of their obligations.  Gridway defaulted on $60 million
of debt.

Prepetition, the Debtors negotiated a stock purchase transaction
with an interested buyer.  But in March 2014, the purchaser
withdrew from the transaction because of the large amount of debt
that the purchaser would become liable through a stock
transaction.

The Debtors are represented by Michael R. Nestor, Esq., Joseph M.
Barry, Esq., and Donald J. Bowman, Jr., Esq., at Young Conaway
Stargatt & Taylor, LLP; and Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at Patton Boggs LLP.  They employed Omni Management
Group, LLC, as claims and notice agent.

Gridway Energy estimated assets of $500 million to $1 billion and
debt of more than $1 billion.

The Creditors' Committee is represented by Sharon Levine, Esq., and
Philip J. Gross, Esq., at Lowenstein Sandler LLP; and Frederick B.
Rosner, Esq., and Julia B. Klein, Esq., at The Rosner Law Group
LLC.

Vantage is represented in the case by Ingrid Bagby, Esq., David E.
Kronenberg, Esq., Kenneth Irvin, Esq., and Karen Dewis, Esq., at
Cadwalader, Wickersham & Taft LLP, and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A.


GT ADVANCED: Shareholders Denied Role in Bankruptcy
---------------------------------------------------
Sara Randazzo, writing for Daily Bankruptcy Review, reported that
U.S. Bankruptcy Judge Henry Boroff denied a request by GT Advanced
Technologies Inc. shareholders to have a voice in the former Apple
Inc. supplier's bankruptcy, though he left open the possibility for
the group to come back with a new proposal.

According to the report, Judge Boroff issued the one-paragraph
denial after a hearing in U.S. Bankruptcy Court in Springfield,
Mass.  The shareholders had argued they should be given an official
role in the case -- with expenses paid for out of the debtor's
coffers -- because GT Advanced's business is still worth enough to
leave a payout for them, the report related.

                  About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced Technologies
Inc. -- http://www.gtat.com/-- produces materials and equipment
for the electronics industry.  On Nov. 4, 2013, GTAT announced a
multiyear supply deal with Apple Inc. to produce sapphire glass
material for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

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

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

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

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

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

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


HEI INC: Creditors Committee Proposes Fafinski as Counsel
---------------------------------------------------------
The Official Committee of Unsecured Creditors of HEI, Inc., filed
an application to retain the law firm of Fafinski, Mark & Johnson,
P.A., as its bankruptcy counsel.

The Committee believes that FMJ possesses extensive knowledge and
skill in the areas of law relevant to these Chapter 11 cases, and
that FMJ is well qualified to represent its interests in the
matter.

FMJ will be compensated at or below its standard hourly rates for
engagements of this nature.  FMJ's hourly rates for this matter
are: $160 per hour for paralegals, $195 to $250 per hour for
associates and $360 per hour for partners.

David E. Runck, a shareholder of the firm, attests that FMJ does
not represent any interest adverse to the Debtor's estate or its
creditors in connection with the Chapter 11 cases, and FMJ is
disinterested within the meaning of Sections 327(a), 328 and
1103(b) of the Bankruptcy Code.

The firm can be reached at:

        FAFINSKI, MARK & JOHNSON, P.A.
        Flagship Corporate Center
        775 Prairie Center Drive, Suite 400
        Eden Prairie, Minnesota 55344

                          About HEI Inc.

HEI, Inc., filed a Chapter 11 bankruptcy petition (Bankr. D. Minn.
Case No. 15-40009) in Minneapolis, Minnesota, on Jan. 4, 2015.  The
case is assigned to Judge Kathleen H. Sanberg.

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

The deadline for governmental entities to file claims is July 6,
2015.

The Debtor has tapped James L. Baillie, Esq., James C. Brand, Esq.,
and Sarah M Olson, Esq., at Fredrikson & Byron P.A., as counsel;
Alliance Management as business and financial consultant; and
Winthrop & Weinstine, P.A., as special counsel.

On Jan. 9, 2015, the Office of the United States Trustee appointed
an Official Committee of Unsecured Creditors comprised of: (a)
Teamvantage Molding LLC; (b) Watson-Marlow, Inc.; and (c) the
Vergent Products.  The United States Trustee has designated Cathy
Longtin of Teamvantage Molding LLC as acting chairperson, and the
Committee selected Ms. Longtin as permanent chairperson.



HEI INC: Files Schedules of Assets and Liabilities
--------------------------------------------------
HEI, Inc., filed with the Bankruptcy Court its schedules of assets
and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $3,675,000
  B. Personal Property            $8,593,270
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $3,392,568
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $172,101
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $4,019,796
                                 -----------      -----------
        TOTAL                    $12,268,270       $7,584,465

A copy of the schedules is available for free at:

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

                          About HEI Inc.

HEI, Inc., filed a Chapter 11 bankruptcy petition (Bankr. D. Minn.
Case No. 15-40009) in Minneapolis, Minnesota, on Jan. 4, 2015.  The
case is assigned to Judge Kathleen H. Sanberg.

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

The deadline for governmental entities to file claims is July 6,
2015.

The Debtor has tapped James L. Baillie, Esq., James C. Brand, Esq.,
and Sarah M Olson, Esq., at Fredrikson & Byron P.A., as counsel;
Alliance Management as business and financial consultant; and
Winthrop & Weinstine, P.A., as special counsel.

On Jan. 9, 2015, the Office of the United States Trustee appointed
an Official Committee of Unsecured Creditors comprised of: (a)
Teamvantage Molding LLC; (b) Watson-Marlow, Inc.; and (c) the
Vergent Products.  The United States Trustee has designated Cathy
Longtin of Teamvantage Molding LLC as acting chairperson, and the
Committee selected Ms. Longtin as permanent chairperson.


HUSH HOMES: Ontario Court Appoints Fuller Landau as Monitor
-----------------------------------------------------------
Hush Homes Inc. o/a Gardens at Corporation and its affiliates
obtained from the Ontario Superior Court of Justice at Toronto an
initial order under the Companies' Creditors Arrangement Act as
amended under court file number CV-14-10800-00CL.

Pursuant to the initial Order, the Fuller Landau Group Inc. has
been appointed as CCM monitor of the Companies.  A copy of the
initial order and other public information concerning these CCAA
proceedings can be found on the firm's website at
www.fullerllp.corn/hush, or may be obtained by contacting the
monitor at:

  The FullerLandau Group Inc.
  Court-appointed Monitor of Hush Homes Inc.,
  Hush Inc., 2122763 Ontario Inc. and 2142301 Ontario Inc.
  151 Bloor St. West, 12th Floor,
  Toronto, Ontario M55 154
  Attention: Adam Erlich
  Tel: (416) 645-6560
  Fax: (416) 645-6501
  Email: aerlich@fullerlandau.com


IMAGEWARE SYSTEMS: Amends $12 Million Securities Prospectus
-----------------------------------------------------------
Imageware Systems, Inc., amended its Form S-3 registration
statement with the U.S. Securities and Exchange Commission relating
to the offering of $12 million worth of common stock, preferred
stock, warrants and units.  The purpose of the amendment was to
delay the Registration Statement's effective date.

The Company's common stock is quoted on the OTCQB under the symbol
"IWSY".  The last reported sale price of the Company's common stock
on Jan. 23, 2015, was $1.71 per share.

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

                       http://is.gd/ncfL30

                     About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

Imageware Systems incurred a net loss of $9.84 million in 2013, a
net loss of $10.2 million in 2012 and a net loss of $3.18 million
in 2011.

As of Sept. 30, 2014, the Company had $5.67 million in total
assets, $4.51 million in total liabilities and $1.15 million in
total shareholders' equity.


IMPORTANT PROPERTIES: Case Summary & 3 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Important Properties, LLC
        P.O. Box 8046
        Pelham, NY 10803

Case No.: 15-22123

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 28, 2015

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Debtor's Counsel: Erica Feynman Aisner, Esq.
                  DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR,
LLP
                  One North Lexington Avenue
                  White Plains, NY 10601
                  Tel: 914-681-0200
                  Fax: 914-684-0288
                  Email: erf@ddw-law.com

                    - and -

                  Jonathan S. Pasternak, Esq.
                  DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR
LLP
                  One North Lexington Avenue
                  White Plains, NY 10601
                  Tel: (914) 681-0200
                  Fax: (914) 684-0288
                  Email: jpasternak@ddw-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John Meskunas, manager.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/nysb15-22123.pdf


INTERMETRO COMMUNICATIONS: Charles Levy Has 5% Stake as of Dec. 31
------------------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Charles M. Levy disclosed that as of Dec. 31,
2014, he beneficially owned 5,558,139 shares of common stock of
Intermetro Communications, Inc., representing 5.2 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/Isc3GZ

                          About InterMetro

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

InterMetro Communications reported a net loss of $2.45 million on
$11.6 million of net revenues for the year ended Dec. 31, 2013,
as compared with net income of $699,000 on $20.06 million of net
revenues in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $2.88
million in total assets, $12.4 million in total liabilities and a
$9.51 million total stockholders' deficit.

Gumbiner Savett Inc., in Santa Monica, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company incurred net losses in previous years, and as of
Dec. 31, 2013, the Company had a working capital deficit of
approximately $12.08 million and a total stockholders' deficit of
approximately $12.4 million.  The Company anticipates that it will
not have sufficient cash flow to fund its operations in the near
term and through fiscal 2014 without the completion of additional
financing.  These factors, among other things, raise substantial
doubt about the Company's ability to continue as a going concern.


ISTAR FINANCIAL: Morgan Stanley Held 5% Equity Stake at Jan. 16
---------------------------------------------------------------
Morgan Stanley disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Jan. 16, 2015, it
beneficially owned 4,270,168 shares of common stock of Istar
Financial representing 5 percent of the shares outstanding.  A copy
of the regulatory filing is available at http://is.gd/cpx3Yq

As of Dec. 31, 2014, Morgan Stanley held 4,229,649 common shares
representing 4.96 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/DxuZyu

                       About iStar Financial

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

iStar Financial incurred a net loss allocable to common
shareholders of $156 million in 2013, a net loss allocable to
common shareholders of $273 million in 2012, and a net loss
allocable to common shareholders of $62.38 million in 2011.

As of Sept. 30, 2014, the Company had $5.48 billion in total
assets, $4.20 billion in total liabilities, $11.4 million in
redeemable noncontrolling interests, and $1.26 billion in total
equity.

                            *     *     *

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

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

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


KOPPERS HOLDINGS: Moody's Affirms B3 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service lowered Koppers Holdings Inc.'s
Speculative Grade Liquidity Rating to SGL-3 from SGL-2 following
the company's decision to postpone its unsecured bond offering.
Moody's also affirmed the company's existing ratings, including the
Ba3 Corporate Family Rating ("CFR"), and has withdrawn the rating
assigned to the proposed unsecured notes. The rating outlook
remains negative.

"We believe that the covenant cushion will be tighter as a result
of the postponed bond deal," said Ben Nelson, Moody's Assistant
Vice President and lead analyst for Koppers Holdings Inc.

The actions:

Issuer: Koppers Holdings Inc.

Corporate Family Rating, Affirmed Ba3;

Probability of Default Rating, Affirmed Ba3-PD;

Speculative Grade Liquidity Rating, Lowered to SGL-3 from SGL-2;

Outlook, Remains Negative.

Issuer: Koppers Inc.

$300 million Senior Secured Notes due 2019, Affirmed Ba3 (LGD3);

$400 million Senior Unsecured Notes due 2020, Withdrawn;

Outlook, Remains Negative.

Ratings Rationale

The Ba3 CFR is principally constrained by industry-related risks
that will make it difficult for the company to return credit
metrics to appropriate levels following the debt-funded acquisition
of certain businesses from Osmose in August 2014. Moody's estimates
financial leverage in the low 5 times (Debt/EBITDA) and interest
coverage in the mid 3 times (EBITDA/Interest) on a pro forma basis
for the twelve months ended September 30, 2014. The rating is also
constrained by exposure to cyclical end markets, volatile
feedstocks, weakening competitive position in several key products
(competitors use an alternative feedstock), legal and environmental
risks, and high customer concentration. The rating considers
favorably solid operational and geographic diversity, strong market
shares in certain businesses, stability in demand over the cycle, a
dearth of available substitutes for some key products, and good
liquidity.

The SGL-3 Speculative Grade Liquidity Rating reflects adequate
liquidity to support operations for at least the next several
quarters. Moody's expects free cash flow will be very modest in
2015. Koppers reported $75 million of cash and over $200 million of
revolver availability on a pro forma basis at September 30, 2014.
The credit agreement contains two financial maintenance covenants:
a senior secured leverage ratio test set at 5.50x and a fixed
charge coverage ratio test set at 1.1x. The company reported 4.4x
and 2.7x, respectively, on these covenants at September 30, 2014.
While the cushion of compliance is reasonable at present, Moody's
expects it will narrow in the coming quarters with weakening
financial performance and scheduled step-downs on the secured
leverage covenant to 5.25x at 4Q14 and 5.00x at 4Q15. Moody's would
lower the short-term liquidity rating to SGL-4 if Moody's expected
a covenant breach in the next 12-15 months.

The negative rating outlook reflects expectations for financial
leverage to remain above 4 times at least through the end of 2015.
Moody's could downgrade the rating if, over the next few quarters,
the company does not demonstrate clear progress towards getting
back on track to reduce leverage to below 4 times, raise retained
cash flow-to-debt in the low-to-mid teens, and improve proactively
its liquidity position. An upgrade is unlikely at the current time
given the company's weak metrics. But, Moody's could upgrade the
rating if the company's leverage is sustained below 3 times,
generates free cash flow consistently in excess of 10% of debt, and
maintains solid liquidity to cover unforeseen expenses.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 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.

Koppers Holdings Inc. produces carbon compounds and treated wood
products used in the aluminum, chemical, railroad, residential
lumber, and steel industries. Headquartered in Pittsburgh, Pa., the
company generated $1.4 billion in revenue for the twelve months
ended September 30, 2014, or about $1.8 billion on a pro forma
basis considering the acquisition of certain businesses from Osmose
Holdings, Inc. in August 2014.



LDK SOLAR: Bankr. Case Reassigned to Judge L. Silverstein
---------------------------------------------------------
Judge Brendan Linehan Shannon on Jan. 7, 2015, entered an order
transferring the Chapter 11 case of LDK Solar Systems, Inc. and all
associated cases to Judge Laurie Selber Silverstein.

              Schemes of Arrangement Become Effective

LDK Solar and its Joint Provisional Liquidators, Tammy Fu and
Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, said on
Dec. 10, 2014, that the Cayman Islands schemes of arrangement in
respect of LDK Solar and LDK Silicon & Chemical Technology Co.,
Ltd. and the Hong Kong schemes of arrangement in respect of LDK
Solar, LDK Silicon and LDK Silicon Holding Co., Limited became
effective as of that day.  The Cayman Islands schemes of
arrangement were previously sanctioned by the Grand Court of the
Cayman Islands, and the Hong Kong schemes of arrangement were
previously sanctioned by the High Court of Hong Kong.

LDK Solar and the JPLs also confirmed that pursuant to an order of
the Cayman Court dated Dec. 10, 2014, the powers of the JPLs were
suspended (except for certain residual powers required to finalize
the provisional liquidation) and the powers of the directors of
LDK Solar were restored. With effect from December 10, the
directors may exercise all their powers as such, subject to the
powers granted to the scheme supervisors in respect of the
Schemes.

Pursuant to the terms of the Schemes, the consummation of the
restructuring transactions as contemplated in the Schemes was to
occur on Dec. 17, 2014.

On Dec. 18, 2014, LDK stated that, pursuant to the terms of the
Cayman Islands schemes of arrangement in respect of LDK Solar and
LDK Silicon & Chemical Technology Co., Ltd. and the Hong Kong
schemes of arrangement in respect of LDK Solar, LDK Silicon and
LDK Silicon Holding Co., Limited, the closing date for the
restructuring transactions in respect of LDK Solar's senior
noteholders and preferred shareholders, as contemplated in the
Schemes, occurred on Dec. 17, 2014.

                          About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in   
Hi-Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power projects
and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar in February 2014 filed in the Cayman Islands for the
appointment of provisional liquidators, four days before it was
due to make a $197 million bond repayment.  Its Joint Provisional
Liquidators are Tammy Fu and Eleanor Fisher, both of Zolfo Cooper
(Cayman) Limited.

In September 2014, LDK Solar, LDK Silicon and LDK Silicon Holding
Co., Limited each applied to file an originating summons to
commence their restructuring proceedings in the High Court of Hong
Kong.

On Oct. 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware. The lead case is In re LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384). On Oct.
21, 2014, LDK Solar filed a petition in the same U.S. Bankruptcy
Court for recognition of the provisional liquidation proceeding in
the Grand Court of the Cayman Islands. The Chapter 15 case is In
re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-12387).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois. The U.S. Debtors'
Delaware counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt & 73
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on Sept.
17, 2014 from the holders of LDK Solar's 10% Senior Notes due
2014, as guarantors of the Senior Notes, and required such holders
of the Senior Notes to return their ballots by Oct. 15, 2014.
Holders of the Senior Notes voted overwhelmingly in favor of
accepting the Prepackaged Plan.


LEMINGTON HOME: 3rd Cir. Lifts Punitive Damages Imposed on Board
----------------------------------------------------------------
Saranac Hale Spencer, writing for The Legal Intelligencer, reports
that the U.S. Court of Appeals for the Third Circuit had tossed the
punitive damages that a jury imposed on five board members of The
Lemington Home for the Aged due to insufficient evidence.

The Legal Intelligencer recalls that a six-day trial in 2013
resulted in the jury's imposition of a total of $3.5 million in
punitive damages.

Judge Thomas I. Vanaskie, according to The Legal Intelligencer,
tossed the $350,000 in punitive damages that had been assessed
against each of those five members of the board.  The report quoted
him as saying, "Insufficient evidence was presented to support a
finding that any of them possessed a sufficiently culpable state of
mind to warrant the imposition of the 'extreme remedy' of punitive
damages, which Pennsylvania courts have cautioned should be awarded
'in only the most exceptional matters.'"

The Legal Intelligencer relates that the Appeals Court upheld the
bulk of the punitive damages doled out by the jury -- $1 million
against CFO James Shealey and $750,000 against administrator and
CEO Mel Lee Causey.

According to The Legal Intelligencer, Judge Vanaskie said, "The
evidence presented to the jury did not contain the minimum quantum
of proof of outrageous conduct necessary to support a punitive
damages award against any of the director defendants.  We will
therefore vacate the punitive damages imposed against five of the
director defendants.  However, because we conclude that adequate
state-of-mind evidence was presented to support a finding that
Shealey and Causey acted 'outrageously,' we will affirm the jury's
punitive damages verdict as to them."

"In addition to the evidence of self-dealing, the officer
defendants' state of mind was illuminated by their own testimony at
trial.  Both Causey and Shealey responded evasively under
cross-examination to questions about their conduct, allowing the
jury to infer that they had acted culpably and continued to avoid
recognizing the gravity of their misconduct," The Legal
Intelligencer quoted Judge Vanaskie as saying.

Headquartered in Pittsburgh, Pennsylvania, Lemington Home for the
aged -- http://www.lemington.org/-- operated a nursing home for  
the elderly.  The facility filed for Chapter 11 protection (Bankr.
W.D. Penn. Case No. 05-24500) on April 13, 2005 .  James E.
Van Horn, Esq., Mark E. Freedlander, Esq., at McGuire Woods LLP
represent the Debtor.  When the Debtor filed for Chapter 11
protection from its creditors, it estimated assets and debts of
$1 million to $10 million.

The Committee of Unsecured Creditors was appointed two weeks after
the bankruptcy filing.  W. Terrence Brown was hired by one of
Lemington's creditors to investigate the company's financial
situation.

Counsel to the Committee are Robert S. Bernstein, Esq., Kirk B.
Burkley, Esq., and Nicholas D. Krawec, Esq., at Krawec Bernstein
Law Firm, PC.


LONGVIEW POWER: Amends Plan to Include Insurer, Contractors Deal
----------------------------------------------------------------
Longview Power, LLC, et al., filed a second amended joint plan of
reorganization to incorporate the approval of the settlement among
the Debtors, First American Title Insurance Company, and their
contractors Amec Foster Wheeler North America, Kvaerner North
American Construction, Inc., and Siemens Energy, Inc.

Under the settlement, First American will deliver $41 million to an
escrow agent, Longview will deliver $2 million to the escrow agent,
and Siemens will deliver $12.5 million to the escrow agent.  The
settlement also provides that the escrow agent will deliver $48
million to Kvaerner and $7.5 million to Foster Wheeler.

The settlement will end litigation between Longview and insurer
First American over the payout of a policy covering the builders'
senior claims.  There was an impending trial on whether an $825
million policy issued by First American is property of Longview's
bankrupt estate and whether this policy can be used to pay claims
of contractors.

Under the Second Amended Plan, general unsecured claims (Class 7)
are impaired and are entitled to vote.  If Class 7 votes to accept
the Plan, holders will receive cash in an amount equal to the
lesser of (x) their pro rata share of the unsecured creditor cash
pool or (y) 22.07% of their allowed general unsecured claim.  If
Class 7 votes to reject the Plan, they will receive cash in an
amount equal to the lesser of (x) their pro rata share of the
unsecured rejecting creditor cash pool or (y) 5.52% of their
allowed general unsecured claim.

A hearing on the approval of the Disclosure Statement and
solicitation procedures is scheduled for Feb. 18, 2015, at 11:00
a.m., prevailing Eastern Time.  Objections to the approval of the
Disclosure Statement are due Feb. 9.

Subject to the approval of the U.S. Bankruptcy Court for the
District of Delaware, the Debtors propose to set a hearing on
confirmation of their Second Amended Plan for March 13, 2015, with
a continued voting deadline and plan objection deadline of
March 9.

A blacklined version of the Plan dated Jan. 26, 2015, is available
at http://bankrupt.com/misc/LONGVIEWplan0126.pdf

                       About Longview Power

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

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

The Debtor disclosed assets of $1.72 billion plus undisclosed
amounts and liabilities of $1.08 billion plus undisclosed
amounts.

A committee of unsecured creditors has not been appointed in the
case due to insufficient response to the U.S. Trustee's
communication/contact for service on the committee.


LORILLARD INC: BlackRock Reports 7.4% Stake as of Dec. 31
---------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, BlackRock, Inc., disclosed that as of
Dec. 31, 2014, it beneficially owned 26,694,788 shares of common
stock of Lorillard Inc. representing 7.4 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                        http://is.gd/yd4Vav

                         About Lorillard

Lorillard, Inc. is the manufacturer of cigarettes in the United
States. Its Newport is a menthol flavored premium cigarette
brand.  In addition to the Newport brand, its product line has
four additional brand families marketed under the Kent, True,
Maverick and Old Gold brand names.

The Company's balance sheet at Sept. 30, 2014, showed $3.27
billion in total assets, $5.43 billion in total liabilities, and a
stockholders' deficit of $2.15 billion.


MANJALI INC: Case Summary & 11 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Manjali, Inc.
        223 Smith Street
        Perth Amboy, NJ 08861

Case No.: 15-11389

Chapter 11 Petition Date: January 27, 2015

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

Judge: Hon. Michael B. Kaplan

Debtor's Counsel: Tomas Espinosa, Esq.
                  8324 Kennedy Blvd.
                  North Bergen, NJ 07047
                  Tel: 201-223-1803
                  Fax: 201-223-1893
                  Email: te@espinosaesq.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mustafa Kachwalla, president.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb15-11389.pdf


MEADOWLARK PLAZA: Case Summary & 9 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Meadowlark Plaza, LLC
        11511-F South Strang Line Road
        Olathe, KS 66062

Case No.: 15-20126

Chapter 11 Petition Date: January 27, 2015

Court: United States Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Hon. Robert D. Berger

Debtor's Counsel: Ronald S. Weiss, Esq.
                  BERMAN, DELEVE, KUCHAN & CHAPMAN, LLC
                  1100 Main, Suite 2850
                  Kansas City, MO 64105
                  Tel: 816-471-5900
                  Fax: 816-842-9955
                  Email: rweiss@bdkc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Tony Pourmemar, member.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/ksb15-20126.pdf


MEDITERRANEAN MEZZA: Dispute Over Rent Leads to Chapter 11 Filing
-----------------------------------------------------------------
Karen Robinson-Jacobs at The Dallas Morning News reports that
Mediterranean Mezza has filed for Chapter 11 bankruptcy
protection.

Citing John Paul Stanford, Esq., the attorney for the Company, The
Dallas Morning News relates that the bankruptcy filing stems from a
dispute between the Company and the landlord over the amount and
timing of the rent.  According to the report, Mr. Stanford said
that the landlord locked the premises due to "non-payment of rent,"
an assertion which is "now in dispute."

Mr. Stanford said that the Company plans to "obtain authorization
from the bankruptcy court to re-enter the premises and continue to
do business," The Dallas Morning News states.

The Chapter 11 filing is "not relevant" to any other Cedars
locations, The Dallas Morning News reports, citing Mr. Stanford.

Mediterranean Mezza is the operator of Cedars Mediterranean Mezza &
Grill, a restaurant popular for its buffet and vegetarian dishes,
on Walnut Hill Lane, Dallas, Texas.


MINE SHIELD: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Mine Shield, LLC
        322 Crab Orchard Rd
        Lancaster, KY 40444

Case No.: 15-50137

Chapter 11 Petition Date: January 28, 2015

Court: United States Bankruptcy Court
       Eastern District of Kentucky (Lexington)

Debtor's Counsel: Mark L. Zoolalian, Esq.
                  MARK ZOOLALIAN, ATTORNEY AT LAW
                  101 Cambridge Lane
                  Nicholasville, KY 40356
                  Tel: (859) 533-0851
                  Fax: (859) 296-0770
                  Email: MarkZoolalian@hotmail.com
  
Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Laurie Hendren, member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/kyeb15-50137.pdf


MOTORS LIQUIDATION: Circuit Orders Partial Judgment for Committee
-----------------------------------------------------------------
The United States Court of Appeals for the Second Circuit issued a
decision with respect to the avoidance action captioned Official
Committee of Unsecured Creditors of Motors Liquidation Co. v.
JPMorgan Chase Bank, N.A. et al., Adv. Pro. No. 09-00504 (Bankr.
S.D.N.Y. July 31, 2009).

As disclosed in the Company's annual report on Form 10-K for the
year ended March 31, 2014, filed on May 22, 2014, the Committee of
Unsecured Creditors of Motors Liquidation Company, on behalf of
Motors Liquidation Company and its affiliated debtors and
debtors-in-possession, commenced the Term Loan Avoidance Action on
July 31, 2009, which seeks the return of approximately $1.5 billion
that had been transferred by the Debtors to a consortium of
prepetition lenders to Motors Liquidation Company (formerly known
as General Motors Corporation, or Old GM), in respect of a term
loan extended by those Secured Lenders (and which consortium of
Secured Lenders asserted that they had a perfected $1.5 billion
security interest in certain assets of Old GM, which was
principally reflected in one specific Delaware UCC-1 financing
statement filed in respect of certain equipment of Old GM).  The
Committee has asserted that such UCC-1 was effectively terminated
when an amendment on Delaware form UCC-3 was filed in respect of
that UCC-1 security interest.  The administrative agent for the
Term Loan has disputed that assertion on a number of grounds,
including by asserting that the termination was unintended and that
the UCC-3 was unauthorized.

On June 17, 2014, the Second Circuit certified a threshold question
to the Delaware Supreme Court in the Term Loan Avoidance Action, as
follows: Under UCC Article 9, as adopted into Delaware law by Del.
Code Ann. tit. 6, art. 9, for a UCC-3 termination statement to
effectively extinguish the perfected nature of a UCC-1 financing
statement, is it enough that the secured lender review and
knowingly approve for filing a UCC-3 purporting to extinguish the
perfected security interest, or must the secured lender intend to
terminate the particular security interest that is listed on the
UCC-3?  After accepting the question and following briefing to and
oral argument before the Delaware Court, on Oct. 17, 2014, the
Delaware Court answered the certified question as follows: It is
enough that the secured lender review and knowingly approve for
filing a UCC-3 purporting to extinguish the perfected security
interest.  Following the Delaware Court's answer to the certified
question, the appeal of the United States Bankruptcy Court for the
Southern District of New York's Order on Cross-Motions for Summary
Judgment and Judgment remained pending before the Second Circuit.

In its Jan. 21, 2015, decision, the Second Circuit, after taking
into account the Delaware Court's answer to the certified question,
reversed the Bankruptcy Court's grant of summary judgment for the
Administrative Agent, holding that the Administrative Agent had
authorized the filing of the UCC-3 and thereby extinguished the
perfected security interest in the relevant collateral.  The Second
Circuit instructed the Bankruptcy Court to enter partial summary
judgment for the Committee.

The GUC Trust Administrator anticipates that the Bankruptcy Court
will schedule a status conference to determine the next steps in
the litigation, including possible proceedings to determine the
value of any collateral securing the Term Loan that may be
unaffected by the Second Circuit's decision.

To the extent that the Committee's action is successful in
obtaining the return of proceeds previously transferred by the
Debtors to the Administrative Agent and the Secured Lenders in
respect of the Term Loan, the amount so returned will give rise to
claims (which are referred to as the Term Loan Avoidance Action
Claims) in the amount so returned.  The holders of those claims
would be entitled to receive a distribution of reserved common
stock of General Motors Company, including with respect to common
stock that has been set aside from distribution, reserved or sold,
any cash and cash equivalents held by the Motors Liquidation
Company GUC Trust related to such common stock, any New GM Common
Stock that has been set aside from distribution, reserved or sold,
any Dividend Cash related to such New GM Common Stock, and the New
GM Warrants, which include the warrants to acquire shares of New GM
Common Stock at an exercise price of $10.00 per share and the
warrants to acquire shares of New GM Common Stock at an exercise
price of $18.33 per share and reserved units representing
contingent rights to receive, on a pro rata basis, additional
shares of New GM Common Stock and New GM Warrants from the GUC
Trust, which would reduce the amount of New GM Securities available
for distribution in the future to holders of GUC Trust Units.

The proper beneficiaries of the proceeds of the Term Loan Avoidance
Action, if any, is a matter that is currently in dispute.  As such,
while the successful prosecution of, and recovery under, the Term
Loan Avoidance Action will result in the incurrence of additional
Term Loan Avoidance Action Claims, it is not known whether holders
of general unsecured claims against the Debtors that are allowed at
any given time will benefit from any cash recovered under the Term
Loan Avoidance Action.  Moreover, following the change of the form
of the GUC Trust Units into book-entry form only, represented by
one or more global certificates registered in the name of DTC, as
depositary, or Cede & Co., its nominee, for so long as DTC is
willing to act in that capacity, beneficial interests in the trust
established under the Debtors' Second Amended Joint Chapter 11
Plan, filed with the Bankruptcy Court on March 18, 2011 for the
purpose of holding and prosecuting the Term Loan Avoidance Action
remained with holders of Allowed General Unsecured Claims, rather
than beneficiaries of GUC Trust Units.  As such, a holder of a GUC
Trust Unit that does not hold a corresponding Allowed General
Unsecured Claim will potentially have its recovery diluted through
the incurrence of Term Loan Avoidance Action Claims by the GUC
Trust, without receiving the benefit of any cash recovered pursuant
to the Term Loan Avoidance Action.

                     About Motors Liquidation

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.


NAPLES HEPHROLOGY: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Naples Nephrology, P.A.
        878 109th Ave. N., Suite 2
        Naples, FL 34108

Case No.: 15-00707

Chapter 11 Petition Date: January 27, 2015

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Debtor's Counsel: Stephen R Leslie, Esq.
                  STICHTER, RIEDEL, BLAIN & PROSSER, P.A.
                  110 East Madison Street, Suite 200
                  Tampa, FL 33602-4700
                  Tel: 813-229-0144
                  Email: sleslie.ecf@srbp.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mark Russo, president.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/flmb15-00707.pdf


NATIONAL CINEMEDIA: Grants Restricted Stock Awards to Executives
----------------------------------------------------------------
The Compensation Committee of the Board of Directors of National
CineMedia, Inc., granted performance-based and time-based
restricted stock awards to each of the Company's executive officers
effective Jan. 21, 2015.

The following table shows the target number of Performance-Based
Restricted Stock and Time-Based Restricted Stock for each executive
officer:

                         Number of
                          Target         Number of
                         Shares of       Shares of       Total
                        Performance-       Time-       Number of
                           Based           Based       Shares of
                         Restricted       Restricted   Restricted
Name and Position          Stock           Stock         Stock
-----------------       -------------   ------------   -----------
Kurt C. Hall              108,198          36,066       144,264
Clifford E. Marks          78,168          52,112       130,280
Alfonso P. Rosabal, Jr.    37,067          24,711        61,778
Ralph E. Hardy             24,295          16,197        40,492
David J. Oddo               6,866          20,598        27,464
Jeffrey T. Cabot            6,828          20,485        27,313
                        -----------     -----------    ----------
Total                     261,422         170,169        431,591   


Mr. Hall serves as president, chief executive officer & chairman.
Mr. Marks acts as president of sales & marketing.  Mr. Rosabal is
the Company's EVP, chief operations officer & chief technology
officer.  Mr. Hardy serves as executive vice president & general
counsel.  Mr. Oddo acts as senior vice president, finance & interim
co-chief financial officer.  Mr. Cabot serves as senior vice
president, controller & interim co-chief financial officer.

              2015 Base Salaries for Executive Officers

The Compensation Committee approved the following 2015 base
salaries effective Jan. 21, 2015.

                               2015 Base  2014 Base   Percentage
Name and Position               Salary      Salary     Increase
-----------------              ---------  ---------   ----------
                                            (in thousands)
Kurt C. Hall                     $796        $780         2%
Clifford E. Marks                $768        $753         2%    
Alfonso P. Rosabal, Jr.          $341        $268        27%
Ralph E. Hardy                   $298        $292         2%
David J. Oddo                    $180        $176         2%
Jeffrey T. Cabot                 $201        $197         2%

                      About National CineMedia

National CineMedia, Inc., is the holding company of National
CineMedia, LLC.  NCM LLC operates the largest digital in-theatre
network in North America, allowing NCM to distribute advertising,
Fathom entertainment programming events and corporate events under
long-term exhibitor services agreements with American Multi-Cinema
Inc., a wholly owned subsidiary of AMC Entertainment Inc.; Regal
Cinemas, Inc., a wholly owned subsidiary of Regal Entertainment
Group; and Cinemark USA, Inc., a wholly owned subsidiary of
Cinemark Holdings, Inc.  NCM LLC also provides such services to
certain third-party theater circuits under "network affiliate"
agreements, which expire at various dates.

As of Sept. 25, 2014, National CineMedia had $994 million in
total assets, $1.19 billion in total liabilities and a $200.2
million total deficit.

                            *    *    *

As reported by the TCR on March 24, 2011, Standard & Poor's
Ratings Services raised its corporate credit ratings on
Centennial, Colorado-based National CineMedia Inc. and
operating subsidiary National CineMedia LLC (which S&P analyzes on
a consolidated basis) to 'BB-' from 'B+'.  "The 'BB-' corporate
credit rating reflects S&P's expectation that NCM's EBITDA growth
will enable the company to continue to de-lever over the
intermediate term despite its aggressive dividend policy," said
Standard & Poor's credit analyst Jeanne Shoesmith.


NII HOLDINGS: AT&T Requires Auction, Sale Hearing in March
----------------------------------------------------------
NIU Holdings LLC, a subsidiary of NII Holdings, Inc., on January
26, 2015, entered into a Purchase and Sale Agreement with New
Cingular Wireless Services, Inc., an indirect subsidiary of AT&T,
Inc., NIHD Telecom Holdings B.V., Nextel International (Uruguay)
LLC, and certain Seller guarantors named therein, pursuant to which
AT&T has agreed to purchase all of the outstanding stock of Nextel
Mexico Parent, the parent of Comunicaciones Nextel de Mexico, S.A.
de C.V.  The Purchase Agreement provides for a purchase price of
approximately $1.875 billion in cash.

The sale transaction is required to be conducted as an auction
pursuant to section 363 of the Bankruptcy Code and is subject to
higher or better offers. The auction sale will be conducted in
accordance with the bidding procedures to be approved by the U.S.
Bankruptcy Court for the Southern District of New York.  

The Purchase Agreement may be terminated by AT&T if:

     -- the Bidding Procedures Order has not been entered by
        the Bankruptcy Court on or before February 17, 2015;

     -- the Auction is not held on or before March 20, 2015,
        unless an Auction is not required to be held pursuant
        to the terms of the Bidding Procedures;

     -- the Sale Hearing is not held on or before March 23, 2015;
        or

     -- the Sale Order has not become a Final Order or is not
        capable of becoming a Final Order on or before April 6,
        2015.

Both Purchaser or Seller may terminate the deal if the Closing has
not occurred by 5:00 p.m. local time in Mexico City, Mexico on June
30, 2015.  The Closing may be extended to September 30, 2015, if
the parties agree.

The successful bidder will be required to consummate the Purchase
Agreement in accordance with its terms. The sale transaction is
expected to close in the first half of 2015.

The purchase price is subject to adjustment prior to closing based
on (i) the amount of an agreed net indebtedness of Nextel Mexico
outstanding at closing and (ii) the actual amount paid by Nextel
Mexico between signing and closing of the Purchase Agreement with
respect to specified categories of expenses relative to spending
against an agreed budget between signing and closing of the
Purchase Agreement. The Purchase Agreement provides that
approximately $32 million of the purchase price will be deposited
and held in escrow to secure specified obligations of AT&T under
the Purchase Agreement. In addition, if AT&T is not the successful
bidder, Nextel Mexico Parent will be required to pay AT&T a
termination fee equal to approximately $32 million, reimburse
AT&T's expenses (up to $10 million) and return the deposit.

Completion of the sale is subject to several conditions, including:
(i) the Bankruptcy Court having entered all appropriate orders;
(ii) obtaining all required governmental approvals; (iii) the
absence of a material adverse effect on Nextel Mexico; and (iv)
certain other customary conditions. The Purchase Agreement is not
subject to a financing condition. The Purchase Agreement includes a
right for each party to terminate the agreement in specified
circumstances. The Purchase Agreement requires the Seller to pay
the termination fee and reimburse AT&T's expenses as described
above upon certain termination events. If the Purchase Agreement is
terminated as a result of AT&T's breach of the Purchase Agreement,
the deposit is forfeited.

Pending consummation of the Purchase Agreement, Nextel Mexico has
agreed to (i) conduct its business in the ordinary course
consistent with past practice and (ii) use commercially reasonable
efforts to maintain and preserve intact its business organization
and preserve intact certain business relationships and
relationships with applicable regulatory authorities. The Purchase
Agreement provides that $187.5 million of the purchase price will
be held in escrow for two years in case of breaches by Nextel
Mexico of representations, warranties and covenants.

On November 24, 2014, the Company and 12 of its wholly-owned
subsidiaries, which had previously sought bankruptcy protection,
filed a plan of reorganization and related disclosure materials
with th. Bankruptcy Court based on a Plan Support Agreement that
had been reached with certain of their major stakeholders,
including their two largest creditors and the official committee of
unsecured creditors.  Because the transactions pursuant to the
Purchase Agreement are inconsistent with terms of the Plan Support
Agreement, the Company has exercised its right to terminate the
Plan Support Agreement in its existing form, and expects to engage
with its major stakeholders in an effort to gain support for
modifications to the Plan that will allow it and its subsidiaries
to emerge from Chapter 11 reorganization.

Nextel Mexico provides wireless services in major Mexican business
centers, including Mexico City, Guadalajara, Puebla, Leon,
Monterrey, Toluca, Tijuana, Torreon, Ciudad Juarez and Cancun, as
well as in small markets and along related transportation corridors
throughout Mexico. Nextel Mexico is headquartered in Mexico City
and has many regional offices throughout Mexico.

A copy of the Purchase Agreement is available at
http://is.gd/Xl5CWl

NIU Holdings may be reached at:

     NIU Holdings LLC
     c/o NII Holdings, Inc.
     1875 Explorer Street,
     Reston, VA 20191
     Attention: Gary D. Begeman, General Counsel
     Fax: 703-390-5191
     E-mail: Gary.Begeman@nii.com

NIU Holdings is represented by:

     JONES DAY
     222 East 41st Street
     New York, NY 10017
     Attention: Robert A. Profusek, Esq.
     Fax: 212-755-7306
     E-mail: raprofusek@jonesday.com

AT&T Inc., as purchaser, may be reached at:

     AT&T Inc.
     One AT&T Plaza
     208 South Akard Street, Suite 3702
     Dallas, TX 75202
     Attention: D. Wayne Watts
     Fax: (214) 746-2103
     E-mail: wayne.watts@att.com

AT&T is represented by:

     SULLIVAN & CROMWELL LLP
     125 Broad Street
     New York, NY 10004
     Attention: Sergio J. Galvis
                Werner F. Ahlers
     Fax: (212) 558-3588
     E-mail: galviss@sullcrom.com
             ahlersw@sullcrom.com

                   About NII Holdings, Inc.

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.


NII HOLDINGS: AT&T to Combine Nextel Mexico With Iusacell
---------------------------------------------------------
AT&T Inc. said it will combine NII Holdings Inc.'s Mexican
operations operated by its indirect subsidiary, Nextel de Mexico,
S.A. de C.V., with recently acquired Iusacell to help create a
North American mobile service area covering 400 million consumers
and businesses in Mexico and the U.S., Gary Jacobson at The Dallas
Morning News reports.

As reported by the Troubled Company Reporter on Jan. 27, 2015, NII
Holdings on Jan. 26, 2015, disclosed that it has agreed to sell
its Mexican operations to AT&T for $1.875 billion, less the
outstanding net debt of the business at closing.  The transaction
is subject to the approval of the U.S. Bankruptcy Court for the
Southern District of New York, regulatory approvals in Mexico, and
a competitive bidding process to be conducted under the supervision
of the U.S. Bankruptcy Court.  It is expected to close by
mid-2015.

The transaction allows the Mexico team "to grow and thrive,
capitalizing on the opportunities in the Mexican telecom market,"
NII Holdings CEO Steve Shindler said in a statement.

                        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, were
publicly traded under the symbol NIHD on the NASDAQ Global Select
Market.

NII Holdings and 12 wholly owned subsidiaries 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 $1.22 billion in assets and $3.068
billion in liabilities as of the Chapter 11 filing.

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


NNN 1818 MARKET: Court Approves Joint Administration
----------------------------------------------------
NNN 1818 Market Street 16, LLC, and its affiliated debtors obtained
entry of a Bankruptcy Court order granting joint administration of
their cases, with the lead case being In re NNN 1818 MARKET STREET
16, LLC, case number 2:15-bk-10111-TD.

                   About NNN 1818 Market Street

NNN 1818 Market Street 16, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. C.D. Cal. Case No. 15-10111) on Jan. 5, 2015.  The
Debtor estimated assets and debts of $10 million to $50 million.
Two affiliates also sought bankruptcy protection on Jan. 6, 2015.

The Debtors are fractional owners of 1818 Beneficial Bank Place, a
37-story, Class-A office building (located in the prestigious West
of Broad office submarket in Philadelphia.  Specifically, the
Debtors are tenants-in-common (TIC) holding 3 of 38 TICs holding
fractional percentage interests in the property located at 1818
Market Street, Philadelphia.

John L. Smaha, Esq., at Smaha Law Group serves as the Debtors'
counsel.


NNN 1818 MARKET: Wants Schedules Filing Deadline Moved to Feb. 3
----------------------------------------------------------------
NNN 1818 Market Street 16, LLC, and its affiliated debtors ask the
Bankruptcy Court to extend their deadline to file their schedules
of assets and liabilities and statements of financial affairs
through Feb. 3, 2015.

Each of the Debtors are either a plaintiff, defendant and/or
cross-defendant in three separate litigation actions that were
pending at the time the Debtors filed their petitions and which
concern the disposition of the 1818 Market Street property and
claims against the property manager, Daymark Properties Realty,
Inc.  The Debtors assert that much of the information required to
complete the schedules is held by the third party property manager
Daymark, which is currently adverse to the Debtors in the
litigation.  The Debtors tell the Court that their general counsel,
special counsel and representative have been working towards
obtaining the necessary documents, reviewing recent production of
documents and preparing the lists, schedules, statements and other
documents.

                   About NNN 1818 Market Street

NNN 1818 Market Street 16, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. C.D. Cal. Case No. 15-10111) on Jan. 5, 2015. The
Debtor estimated assets and debts of $10 million to $50 million.
Two affiliates also sought bankruptcy protection on Jan. 6, 2015.

The Debtors are fractional owners of 1818 Beneficial Bank Place, a
37-story, Class-A office building (located in the prestigious West
of Broad office submarket in Philadelphia.  Specifically, the
Debtors are tenants-in-common (TIC) holding 3 of 38 TICs holding
fractional percentage interests in the property located at 1818
Market Street, Philadelphia.

John L. Smaha, Esq., at Smaha Law Group serves as the Debtors'
counsel.


NPS PHARMACEUTICALS: Shire Amends Tender Offer Statement
--------------------------------------------------------
An amendment to the tender offer statement on Schedule To has been
filed with the U.S. Securities and Exchange Commission by Shire
plc, Shire Pharmaceutical Holdings Ireland Limited, and Knight
Newco 2, Inc., an indirect wholly owned subsidiary of each of Shire
and SPHIL, on Jan. 23, 2015.  The Schedule TO relates to the offer
by Shire to purchase all outstanding shares of common stock, par
value $0.001 per share, of NPS Pharmaceuticals, Inc., for $46.00
per share, net to the seller in cash, without interest and less any
required withholding taxes, upon the terms and subject to the
conditions set forth in the Offer to Purchase dated Jan. 23, 2015,
and in the related Letter of Transmittal.

The first paragraph under the heading "16. Certain Legal Matters;
Regulatory Approvals -- Litigation Related to the Merger" of the
Offer to Purchase was amended and restated in its entirety to read
as follows:

"As of January 26, 2015, we are aware of four putative class action
lawsuits challenging the transactions contemplated by the Merger
Agreement, filed by purported NPS stockholders, in the Delaware
Court of Chancery against various combinations of NPS, the members
of the NPS Board, Shire, SPHIL and Purchaser.  The actions are
captioned Bragger v. NPS Pharmaceuticals, Inc. et al., Case No.
10553-VCN, Grimaldi v. NPS Pharmaceuticals, Inc. et al., Case No.
10563-VCN, Goldstein v. NPS Pharmaceuticals, Inc., et al., Case No.
10577-VCN and Mantler v. NPS Pharmaceuticals, Inc. et al., Case No.
10580-VCN.  The complaints generally allege, among other things,
that the NPS Board breached its fiduciary duties to NPS's
stockholders, and that the corporate defendants aided and abetted
those breaches, by engaging in a flawed sales process, agreeing to
a transaction price that does not adequately compensate
stockholders and agreeing to certain deal protection provisions in
the Merger Agreement that the plaintiff alleges impede or preclude
a potential topping bid.  The complaints seek, among other things,
to enjoin the Defendants from consummating the transactions
contemplated by the Merger Agreement, damages, and an award of
attorneys' fees and costs."

The following text was added to Items 1 through 9, and Item 11 of
the Schedule TO:

On January 23, 2015, Shire noted the announcement on January 23,
2015 by NPS that the U.S. Food and Drug Administration (FDA) has
approved NATPARA(R) (parathyroid hormone) as an adjunct to calcium
and vitamin D to control hypocalcemia in patients with
hypoparathyroidism.

The U.S. Food and Drug Administration has approved NATPARA
(parathyroid hormone) as an adjunct to calcium and vitamin D to
control hypocalcemia in patients with hypoparathyroidism.
Hypoparathyroidism is a rare endocrine disorder characterized by
insufficient levels of parathyroid hormone, or PTH.  NATPARA is a
bioengineered replica of human PTH.  NPS has previously indicated
that this product is expected to be available in the second quarter
of 2015.

Shire's chief executive officer, Flemming Ornskov, MD, MPH,
commented:

"The FDA's approval of NATPARA provides a new treatment option for
patients with hypoparathyroidism - a devastating rare disease with
significant unmet need.  The NATPARA label is in line with our
expectations, and we believe this approval further validates
Shire's decision to acquire NPS Pharma, which is an excellent
strategic fit allowing us to leverage our  market expertise, core
capabilities in rare disease patient management, and global
footprint.  We look forward to combining our strengths with NPS
Pharma to launch NATPARA in the U.S. after the expected close of
the transaction in Q1 of this year."

Pending satisfaction of customary closing conditions, it is
anticipated that the transaction will close during the first
quarter of 2015.

                   About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing new treatment
options for patients with rare gastrointestinal and endocrine
disorders.

NPS Pharmaceuticals reported a net loss of $13.5 million in 2013,
a net loss of $18.7 million in 2012 and a net loss of $36.3
million in 2011.  The Company posted consolidated net loss of
$31.4 million in 2010 and a net loss of $17.9 million in 2009.

The Company's balance sheet at Sept. 30, 2014, showed $282
million in total assets, $151 million in total liabilities and
$131 million in total stockholders' equity.


OCWEN FINANCIAL: Moody's Affirms B3 CFR & Caa3 Sr. Debt Rating
--------------------------------------------------------------
Moody's Investors Service has affirmed the following ratings; the
outlook is negative:

Ocwen Financial Corporation (Ocwen) -- Corporate Family Rating at
B3; Senior Secured Bank Credit Facility at B3; Senior Unsecured
Debt at Caa1

Altisource Solutions S.a.r.l. (Altisource) -- Corporate Family
Rating at B3; Senior Secured Bank Credit Facility at B3

Home Loan Servicing Solutions, Ltd (HLSS) -- Corporate Family
Rating at B3; Senior Secured Bank Credit Facility at B3

Ratings Rationale

The affirmation balances the positive developments with respect to
Ocwen's settlement with the California Department of Business
Oversight (DBO), along with the potential exposure to other
investigations, litigation and claims that exist or could be
prompted by recent actions taken by regulators and stakeholders.

On 23 January, Ocwen reached a settlement with the DBO for a modest
$2.5 million fine and an agreement to install a third party auditor
for a minimum of two years. The DBO withdrew its request for an
administrative hearing to consider suspending Ocwen's California
mortgage servicing license for up to one year. While an agreement
has been reached with respect to supplying the information the DBO
requested, the DBO still has to determine Ocwen's compliance with
California's Homeowner's Bill of Rights (HBR), a package of
amendments to the California Civil Code that became law in January
2013 to protect homeowners. The installation of a third party
auditor increases the likelihood of Ocwen being found to be
non-compliant, but given the settlement, Moody's doesn't currently
envision Ocwen losing its mortgage servicing license in
California.

Offsetting this positive development, on 23 January, HLSS received
notice of an alleged event of default under its servicer advance
securitization. Additionally, Ocwen received notice from a number
of investors in 119 of its private label mortgage-backed
securitizations (PLMBS) of a potential servicer default. Both
allegations claim Ocwen has failed to comply with covenants under
MBS servicer agreements. If Ocwen has failed to comply with these
covenants, the breach would be deemed an event of default under
HLSS' servicer advance facility unless the facility is paid down
with respect to the disqualified collateral or qualifying
collateral is substituted.

If a default is deemed to have occurred on HLSS' servicer advance
facility, HLSS would lose it primary source of funding. Moody's
expects that HLSS would be able to amend or refinance its existing
facilities if forced to do so, given the quality of servicer
advances.

In the event that an Ocwen servicer default is deemed, Ocwen could
be terminated as servicer. Although in such an event servicing
could be transferred without compensation, Moody's believes this is
rare and, to keep the transfer as orderly, Ocwen and in turn HLSS
would likely receive compensation.

The negative outlook reflects the uncertain outcome of the DBO's
HBR examination, as well as potential exposure to other
investigations or litigation that exist or could be prompted by
recent actions taken by other regulators and stakeholders. HLSS's
and Altisource's negative outlook reflects its reliance on Ocwen.
In the event that Ocwen's ratings are downgraded, the ratings of
HLSS and Altisource would likely also be downgraded.

Ocwen's ratings could be downgraded if the company is deemed to be
in default under its PLMBS, or if the company: 1) sells servicing
at a material discount to fair value; 2) transfers subservicing
resulting in materially lower net income; or 3) is terminated as
servicer without compensation. In addition, negative ratings
pressure on Ocwen's ratings could result if the company's liquidity
erodes or the company's financial fundamentals weaken, for example,
if TCE to tangible assets falls below 7.5%.

Negative ratings pressure on HLSS' ratings could result if the
company loses its primary source of funding for its servicer
advance assets. Negative rating pressure could also result if the
company's financial fundamentals weaken, with particular focus on:
a) adequate funding availability and b) financial leverage.

Additional negative ratings pressure on Altisource's ratings could
result if it loses its contract with Ocwen or if the company's
profitability materially deteriorates for an extended period of
time or leverage materially increases.

Given the negative outlook, upgrades to Ocwen's, HLSS', or
Altisource's ratings are unlikely at this time.

The principal methodology used in these ratings was Finance Company
Global Rating Methodology published in March 2012.



PHILBRICK D K RANCH: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Philbrick D K Ranch, Inc.
        36750 County Road 65
        Galeton, CO 80622

Case No.: 15-00806

Chapter 11 Petition Date: January 27, 2015

Court: United States Bankruptcy Court
       District of Arizona (Tucson)

Judge: Hon. Moody Whinery

Debtor's Counsel: Charles R Hyde, Esq.
                  LAW OFFICES OF C.R. HYDE
                  182 North Court Avenue
                  Tucson, AZ 85701
                  Tel: 520-647-9623
                  Fax: 520-547-2475
                  Email: crhyde@gmail.com
                         CRHyde@OldPuebloBankruptcy.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Newell Philbrick, president.

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


PHOENIX PAYMENT: Gets Court Nod to Use Bancorp's Cash Collateral
----------------------------------------------------------------
The U.S. Bankruptcy approved a stipulation authorizing and
consenting Phoenix Payment Systems, Inc., to use cash collateral
pursuant to the revised budget.

The stipulation entered between the Debtor and Bancorp Bank also
provides that as additional adequate protection, the Debtor agreed
to provide the Bank (i) cash payment in the amount of $131,287; and
(i) replenishment of the reserved fund held by the Bank on account
of the Debtor's guaranty of Raymond Moyer's home equity line of
credit.  

The Bank is also allowed to draw down on the Bank HELOC Reserve to
satisfy the monthly principal and interest payments due on the
equity line from and after Sept. 1, 2014.

A copy of the budget is available for free at

  http://bankrupt.com/misc/PhoenixPayment_458_ordercashcoll.pdf

                      About Phoenix Payment

Founded in 2004, Phoenix Payment Systems, Inc., aka Electronic
Payment Systems, aka EPX, is an international payment processor
with corporate headquarters in Wilmington, Delaware, and
technology headquarters in Phoenix, Arizona.  It provides
acceptance, processing, support, authorization and settlement
services for credit card, debit card and e-check payments.

Providing processing services at more than 8,700 locations
worldwide, PPS processed, in multiple currencies, 280 million
transactions in 2013 and expects to process 400 million in 2014.

Phoenix Payment Systems sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 14-11848) on Aug. 4,
2014, to quickly sell its assets.

As of the Petition Date, the Debtor had total outstanding
liabilities and other obligations of $16.6 million and 9.8 million
shares of outstanding preferred and common stock.  Debt to secured
creditor The Bancorp Bank is estimated at $6.2 million.  The
Debtor disclosed $7.23 million in assets and $14.1 million in
liabilities as of the Chapter 11 filing.

Judge Mary F. Walrath presides over the case.

The Debtor's attorneys are Richard J. Bernard, Esq., at Foley &
Lardner LLP, in New York; and Mark D. Collins, Esq., Russell
Siberglied, Esq., Zachary I Shapiro, Esq., and Marisa A.
Terranova, Esq., at Richards Layton & Finger, P.A., in Wilmington,
Delaware.  The Debtor's banker and financial advisor is Raymond
James & Associates, Inc., while Bederson, LLC, is the Debtor's
accountant.  PMCM, LLC, provides advisory services and executive
leadership to the Debtor.  The Debtor's claims and noticing agent
is Omni Management Group, LLC.

The U.S. Trustee for Region 3 has appointed three members to the
Official Committee of Unsecured Creditors.  The Committee tapped
to retain Lowenstein Sandler LLP, and White and Williams LLP as
its co-counsel; Alvarez & Marsal North America, LLC as its
financial consultant.

                          *     *     *

Phoenix Payment Systems, Inc., on Dec. 23, 2014, filed with the
U.S. Bankruptcy Court for the District of Delaware a joint plan of
reorganization and disclosure statement, which provide that the
reorganized debtor will continue to operate.

The Reorganized Debtor Assets will revest in the reorganized
debtor and the remainder, which is a majority of the Debtor's
assets, including the proceeds from the sale, will be transferred
to a liquidating trust for distribution to creditors and
stockholders.  The Debtor estimates that it will be able to make
an
initial distribution of not less than $27.5 million of cash on the
effective date.  The Debtor estimates that the holders of General
Unsecured Claims, the Frascella Claims and the Schubiger Claims
will receive 90% of the amounts of their claims from the initial
distribution.

The hearing on the approval of the Disclosure Statement is
scheduled to be held on Jan. 30, 2015, at 10:30 a.m. (prevailing
Eastern Time).  The hearing on the confirmation of the Plan is
tentatively scheduled for March 10, 2015, at 10:30 a.m.
(prevailing
Eastern Time).


PLATFORM SPECIALTY: Moody's Affirms B1 Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service has affirmed Platform Specialty Products
Corporation's Corporate Family Rating ("CFR") at B1 and affirmed
the B1 ratings on the proposed new Term Loan and B2 on the new
unsecured notes following the change in capital structure. Platform
has decreased the size of its new Senior Secured Term Loan to $600
million from $1.1 billion and increased the size of its new Senior
Unsecured Notes due 2022 to $1,520 million from $920 million, the
Euro denominated Term Loan add-on and Notes tranche remain the same
at approximately $100 million and $420 million, respectively. The
additional $100 million in long term debt will be used to fund
expected working capital requirements at close, due to the
seasonality of the agricultural business, and for bond interest
prepayment. The final structure completes the funding for the $3.51
billion acquisition of Arysta LifeScience Limited, parent of Arysta
LifeScience SPC, LLC (B2 stable), whose ratings will be withdrawn
upon the completion of the transaction.

Moody's changed the Loss Given Default (LGD) rating on the Senior
Unsecured Notes to LGD4 from LGD5 and also affirmed the B1 ratings
on the company's existing secured debt. The Speculative Grade
Liquidity rating is affirmed at SGL-3 and the outlook is negative.

The following summarizes the actions:

Ratings Affirmed:

Platform Specialty Products Corporation

Corporate Family Rating -- B1

Probability of Default -- B1-PD

Speculative Grade Liquidity Rating SGL-3

$1,520 million Senior Unsecured Notes due 2022 -- B2, to LGD4 from
LGD5

MacDermid Inc.

$300 million Senior Secured Revolver -- B1, LGD3

$1,185 million Senior Secured Term Loan -- B1, LGD3

$500 million Senior Secured Term Loan -- B1, LGD3

MacDermid Agricultural Solutions Holdings BV

$345 million Senior Secured Term Loan (Euro) -- B1, LGD3

These ratings are subject to Moody's review of the final terms and
conditions of the proposed transaction. In particular, the ratings
assume that the $600 million proposed term loans (with $500 million
USD denominated loans and $100 million equivalent of Euro
denominated loans, approximately €83 million) will have the same
guarantors and share the same collateral as the existing loans,
including: (i) guarantees by all material subsidiaries; (ii) a
first lien senior secured position in fixed assets, accounts
receivables, and inventory, and (iii) that $1.520 billion senior
unsecured notes due 2022 will be issued to complete the funding for
the Arysta acquisition (with an expected $1.1 billion denominated
in USD and $420 million equivalent Euro denomination, approximately
€350 million). If the final debt amounts differ from the
proposed, the ratings could be changed.

Ratings Rationale

Platform's B1 CFR is constrained by the company's elevated pro
forma leverage (5.9x PF LTM September 30, 2014 and 5.4x including
synergies), the significant integration risks associated with three
recent acquisitions that have nearly quadrupled the size of the
company, and expectations of continued acquisition-driven growth,
as a result of the company's stated tactic of being an acquirer and
consolidator of specialty chemicals businesses globally.
Furthermore, the company's liquidity is pressured by increased
working capital demands from the new agricultural business silo,
debt costs, and integration expenses. The rating is supported by:
the improved size; increasingly diverse revenue stream; and strong
margins and cash flow generating capabilities of the combined
businesses, which benefit from geographic, operational, and product
diversity through its global footprint, with significant operations
in the US, Europe, and Asia. These factors lend stability to the
company's EBITDA generation compared to some peers in the chemical
and agricultural industries. (All ratios include Moody's Standard
Adjustments.)

The rating contemplates the recently acquired businesses of
Agriphar and AgroSolutions as well as the pending acquisition of
Arysta, which add a new agricultural chemicals business silo to
Platform. Platform is acquiring the three businesses for a combined
cost of $5.0 billion with a combination of debt and equity, where
the equity contribution totals over $2.1 billion (over 40% of the
acquisition value). While the equity contribution is substantial,
the size of the acquisitions relative to the prior Platform
businesses elevates integration risks. Furthermore leverage will
start out above management's stated net leverage target of 4.5x,
which will delay the return of metrics to levels that fully support
the rating, especially if the company undertakes additional debt
financed transactions in the second half of 2015.

Supporting the rating is Platform's historic ability (through the
MacDermid legacy business) to generate positive free cash flow
throughout the business cycle and track record of improving margins
to levels reflective of specialty chemicals (above 15%). The legacy
company enjoys strong market positions in certain niche markets,
modest capital expenditure requirements, and has limited exposure
to volatile raw materials costs. The majority of Platform's raw
materials are not petrochemical-based, therefore, the company does
not experience the same cost volatility as other chemical firms.
The rating also reflects Platform's exposure to cyclical
end-markets such as automotive, commercial packaging and consumer
electronics (printed circuit boards) through its Performance
Materials and Graphic Solutions segments. While this exposure will
decline with the addition of the AgroSolutions, Agriphar, and
Arysta businesses, the Performance Materials and Graphic Solutions
segments will continue to contribute approximately 25% of revenue.

Moody's expects the company to achieve the planned synergies by
2017 and reduce adjusted financial leverage to below 5.0x by the
end of 2015. The calculation incorporates $25 million of synergies,
and Moody's Standard Adjustments including the capitalization of
operating leases, debt attribution for the underfunded portion of
defined benefit pension plans, and 100% debt treatment for
convertible preferred stock contingent liability. Including the
aforementioned adjustments, Moody's estimates pro forma adjusted
financial leverage near 5.9x (excluding synergies) and 5.4x
(including synergies) for the twelve months ended September 31,
2014. Moody's expects meaningful seasonal revolving credit facility
use, one-time expenses associated with synergies, and the potential
for more acquisitions, but limited capex spending. Because cash
flow generation will be used to support interest expense and
working capital, which will be significantly higher as a result of
the Arysta transaction, incremental acquisitions could result in a
lower rating unless structured with equity such that pro forma
leverage is lowered. Please note that the press release dated
January 12th and 13th failed to include $300 million in term loan
debt that the company used to acquire Agriphar (this $300million is
also not included in the pro forma financials in Platform's
Offering Memorandum).

The SGL-3 Speculative Grade Liquidity Rating indicates adequate
liquidity to support operations for at least the next four
quarters, with meaningful use of the revolving credit facility.
Moody's short-term liquidity assessment is supported by over $280
million of cash as of September 31, 2014, the $300 million
revolving credit facility, and local credit lines to support the
agricultural chemicals business. Moody's expects about $250 million
of revolver availability at the close of the Arysta acquisition.
Subsequently, Platform intends to draw on the revolver to fund
working capital for seasonal swings related to its new agricultural
chemicals businesses. The only financial covenant on the revolving
facility, which would be triggered in the event of a drawing
greater than 25% of the commitment, is a springing net first lien
leverage ratio of 6.5x. Moody's believes that the revolver is small
for the size of the company and the working capital needs of the
agricultural chemicals business, however the revolver is
supplemented by local lines of credit. The firm has no material
near-term debt maturities and its 1% annual amortization payments
total approximately $25 million. The company is subject to an
excess cash flow sweep, which steps down once the first lien net
leverage falls below certain thresholds. The firm has low
maintenance capital expenditure requirements, which will increase
following completion of the acquisitions, but still remain
relatively low. Platform does not pay cash dividends, but has
preferred equity, which pays dividends in the form of common
stock.

The company has proposed $600 million in term loans to fund Arysta
as well as $1,520 million in senior unsecured notes due 2022 to
fully fund the acquisition, thus it will not need to access the
$750 million bridge loan. In total, Platform has raised over $1.33
billion from the issuance of equity, $187 million in warrants, and
$600 million in convertible preferred stock to fund the three
agricultural chemical acquisitions. Platform's $600 million of
convertible preferred stock has a two-year mandatory convertible
feature that requires the company to deliver stock plus a cash
payment if the stock price is below $27.14 / share, such that the
total conversion is no less than $600 million. As a result of this
conversion feature a contingent liability is added to Platform's
debt obligation ($78 million as of December 1, 2014).

The negative outlook reflects the elevated risk of integrating
three companies (Agriphar, AgroSolutions, and Arysta) that increase
Platform's aggregate size by almost four times. The negative
outlook also incorporates Platform's elevated leverage, above 5.0x,
and Moody's expectation that Platform will seek to complete
additional acquisitions over the next 12 months. There is limited
upside to the rating at this time. Following a successful
completion and integration of Platform's acquisitions, the ratings
could be upgraded if leverage falls below 4.0x on a sustained basis
and the company demonstrates its ability to grow its sales and
generate significant free cash flow. Conversely, Platform's ratings
could be downgraded if its operating and credit metrics
deteriorate. Specifically, if leverage remains above 5.0x over the
next 12 to 18 months or if incremental acquisitions prevent the
meaningful reductions in leverage, Moody's would contemplate a
rating downgrade. The rating would be pressured if management
undertakes another sizable debt-financed acquisition in 2015, if
the company accelerates the pace of acquisitions such that debt
rises faster than EBITDA, or if there is no debt reduction between
acquisitions.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 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.

Headquartered in Miami, Florida, Platform Specialty Products Corp
(Platform) is a publicly-traded company founded by investors Martin
Franklin and Nicolas Berggruen in 2013. Platform's first
acquisition in 2013 was MacDermid Holdings, LLC, a global
manufacturer of variety of chemicals and technical services for a
range of applications and markets including; metal and plastic
finishing, electronics, graphic arts, and offshore drilling.
Platform is in the process of acquiring Arysta LifeScience Limited
for approximately $3.51 billion. Platform has already acquired
Chemtura Corporation's AgroSolutions business and Belgium-based
Group Agriphar Group agricultural chemical business, in levered
transactions valued at roughly $1 billion and $405 million,
respectively. Pro forma for the acquisitions, Platform's pro forma
sales are roughly $2.9 billion for the twelve months ended
September 30, 2014 (LTM revenues of $755 million from Platform's
existing business, $461 million from AgroSolutions as of September
30, 2014, $171 million YE 2013 revenues from Agriphar, and $1.5
billion as of September 30, 2014 for Arysta ).



RADIOSHACK CORP: Store Officials Warn of Closures at Two Locations
------------------------------------------------------------------
A Huntington Mall spokesperson and multiple store officials at
different locations said that RadioShack Corporation appears to
close its stores in Barboursville and Ashland, West Virginia,
Curtis Johnson at The Herald-Dispatch reports.

"I assume it's only a matter of time," The Herald-Dispatch quoted
Huntington Mall marketing director Margi MacDuff as saying.  Ms.
MacDuff added that local managers are notifying mall officials of
the store's impending closure, the report states.

According to The Herald-Dispatch, a store official was told to
expect a closure in 30 to 90 days.

The Herald-Dispatch relates that storefront signs at the Huntington
Mall and Ashland Town Center advertise a "blowout clearance" sale,
which workers say are consistent with their stores being
reclassified as clearance locations.

Citing store officials, The Herald-Dispatch reports that standalone
stores like those along 5th Avenue in Huntington and U.S. 60 in
Russell, Kentucky, are remaining open.

                   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 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.


REVEL AC: Feb. 11 Hearing on Request for Exclusivity Extension
--------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on Feb. 11, 2015,
at 10:00 a.m., to consider Revel AC Inc.'s request for extension of
its exclusive period to solicit acceptances for the chapter 11
plan.  Objections, if any, are due Feb. 4.

The Debtors moved that the Court extend their exclusive period to
solicit acceptances for their plan or plans of reorganization until
Apri1 30.

Absent additional extension, the Debtor's exclusive solicitation
period  will end on Feb. 28.

                          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.



ROYALTY PARTNERS: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Royalty Partners, LLC
        One Riverway, Suite 610
        Houston, TX 77056

Case No.: 15-60003

Chapter 11 Petition Date: January 27, 2015

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

Judge: Hon. David R Jones

Debtor's Counsel: Larry A. Vick, Esq.
                  ATTORNEY AT LAW
                  908 Town & Country Blvd., Suite 120
                  Houston, TX 77024
                  Tel: 713-333-6440
                  Fax: 832-202-2821
                  Email: lv@larryvick.com

Total Assets: $845,218

Total Liabilities: $1.54 million

The petition was signed by W. Scott Thompson, Sr., manager.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb15-60003.pdf


SAMUEL WYLY: Ex-Wife Wants Half of Stock Hidden During Divorce
--------------------------------------------------------------
Erik Larson at Bloomberg News reports that Torie Steele, formerly
known as Victoria Lee Wyly, filed with the U.S. Bankruptcy Court in
Dallas on Jan. 26, 2015, a lawsuit against Samuel Wyly, seeking 50%
of any stock that wasn't disclosed during their 1991 divorce.

Bloomberg News relates that Ms. Steele, claiming the undeclared
stock was hidden offshore or placed with other people to deceive
the Court, is asking for a new trial to determine what the stock's
worth.

Ernest Leonard, Esq., the attorney for Ms. Steel, claims in court
documents that Mr. Wyly, by failing to disclose the stock holdings,
obtained property from Ms. Steele by false pretenses, false
representations and actual fraud.

                         About Samuel Wyly

Samuel Wyly filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 14-35043) on Oct. 19, 2014, weeks after a judge
ordered him to pay several hundred million dollars in a civil fraud
case.  In September, a federal judge ordered Mr. Wyly and the
estate of his deceased brother to pay more than $300 million in
sanctions after they were found guilty of committing civil fraud to
hide stock sales and nab millions of dollars in profits.

                        About Caroline Wyly

Caroline Wyly is the widow of business tycoon Charles Wyly.  She
and her brother-in-law Sam Wyly sought Chapter 11 bankruptcy
protection as leverage to settle a looming tax bill and a $329
million claim from the Securities and Exchange Commission.  Her
bankruptcy is In re Caroline D. Wyly, 14-35074, in U.S. Bankruptcy
Court, Northern District Texas (Dallas).


SCRUB ISLAND: Court Won't Stay Implementation of Exit Plan
----------------------------------------------------------
In the Chapter 11 case of Scrub Island Development Group Limited,
Bankruptcy Judge Michael G. Williamson denied the Emergency Motion
for Stay Pending Appeal of Order Confirming Debtors' First Amended
Joint Plan of Reorganization Filed by FirstBank Puerto Rico.

"The Bank has tried everything it could to keep the Debtors from
reorganizing. Of course, the Bank has the right to appeal this
Court's confirmation order if it thinks the Court was wrong. But
the Bank does not have the right to use a stay pending appeal to
accomplish what it could not during the confirmation
process—i.e., thwarting the Debtors' reorganization efforts.
Because the Bank cannot satisfy any of the requirements for a stay
pending appeal, its request must be denied," Judge Williamson said
in a January 26, 2015 Memorandum Opinion and Order available at
http://is.gd/RY7VeHfrom Leagle.com.

The Court recently confirmed a chapter 11 plan that provides for
the payment of approximately $122 million to FirstBank Puerto Rico
over 30 years. To make the plan work, the Debtors, who operate a
resort in the British Virgin Islands, had to acquire two partially
constructed villas owned by creditors and a desalinization plant
that provides fresh water to the resort.

The primary argument advanced by the Bank in support of its
contention that this Court's confirmation order has no chance of
withstanding an appeal is that it improperly interferes with the
Bank's first mortgage on the villas and purchase option on the
desalinization plant.

The Court said the the Bank's request for a stay is the latest in a
long line of bad-faith attempts to keep the Debtors from
successfully restructuring their business. Among other things, the
Bank secretly conspired with the individual employee charged with
running the resort on behalf of the Debtors to thwart their efforts
to take the Bank up on its offer to buy out its loans for a
discounted amount before this case was filed.  Then during this
case, the Bank rejected proposed plan treatment that was identical
to a $37.5 million term sheet the Bank signed with a third-party
investor and, instead, exercised its rights under 11 U.S.C. Sec.
1111(b) requiring the Debtors to pay the Bank the full amount of
its $119 million claim. When, presumably to the surprise of the
Bank, the Debtors were able to confirm a plan that complied with
Sec. 1111(b), the Bank appealed the Court's confirmation ruling by
essentially challenging the Debtors' means of implementing the
plan.

"The Court concludes that it is unlikely the Bank will prevail on
its appeal. The Bank's motion is premised entirely on a
misrepresentation as to the terms of the confirmed plan in this
case and a misunderstanding of the confirmation process in general.
To hear the Bank tell it, the Bank is being stripped of its liens
entirely on the villas and being forced to give up its liens on the
rest of the Debtors' property in exchange for less valuable, more
volatile liens on substitute collateral. And the Bank says the
Court cannot confirm a plan that strips it of its liens or forces
it to accept liens on substitute collateral that is less valuable
and more volatile because the Bankruptcy Code does not expressly
authorized that treatment," the judge said.

"In actuality, the Bank is keeping its liens on the villas until
they are sold (and the Bank is paid in full), and as for the
remainder of its collateral, the Bank is either receiving the
proceeds from the sale of individual lots or villas or a lien on a
"sinking fund" that is being used to enhance the Bank's remaining
collateral. This treatment is permissible under the Bankruptcy
Code. The Bankruptcy Code provides a chapter 11 debtor with great
flexibility to formulate a plan -- limited only by the debtor's
creativity and the prohibition in Sec. 1123(b)(6) that the plan
provisions not be in "inconsistent" with the Bankruptcy Code.
Because the Debtors' confirmed plan is not inconsistent with the
Bankruptcy Code, the Bank will not be able to persuade a district
court on appeal that this Court's confirmation ruling was clearly
erroneous.

"And it is abundantly clear that the Debtors will be irreparably
harmed if the Court stays its confirmation ruling pending the
appeal. A carefully tailored feasible plan of reorganization will
be destroyed. The Debtors will be denied essential funding, which
will result in their resort being shut down, and the Bank will
accomplish what it could not during the confirmation process.
Finally, public policy favors permitting Debtors an opportunity to
implement their confirmed plan. Because the Bank is attempting to
use the requested stay pending appeal to keep the Debtors from
implementing a confirmed plan that easily satisfies the
confirmation requirements under the Bankruptcy Code, the Bank's
request for a stay will be denied."

Counsel to the Debtor:

     Harley E. Riedel, Esq.
     Charles A. Postler, Esq.
     STICHTER, RIEDEL, BLAIN & PROSSER, PA
     110 East Madison Street
     Tampa, FL 33602
     Tel: (813) 229-0144
     E-mail: hriedel@srbp.com
             cpostler@srbp.com

Attorneys for FirstBank Puerto Rico:

     W. Keith Fendrick, Esq.
     HOLLAND & KNIGHT, LLP
     100 North Tampa Street, Suite 4100
     Tampa, FL 33602
     Tel: 813-227-6707
     Fax: 813-229-0134
     E-mail: keith.fendrick@hklaw.com

                         About Scrub Island

Scrub Island Development Group Ltd., the owner of a British Virgin
Islands luxury resort, and its affiliate, Scrub Island Construction
Limited, sought bankruptcy protection (Bankr. M.D. Fla. Case Nos.
13-15285 and 13-15286) on Nov. 19, 2013, to end a receivership
Scrub Island claims was secretly put in place by its lender.  The
bankruptcy case is assigned to Judge Michael G. Williamson.

The 230-acre resort operates as a Marriott Autograph Collection
property.  It has 52 rooms and suites, a spa and a 55-slip marina.

Scrub Island Development scheduled $126 million in assets and $131
million in liabilities.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the Debtor's prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Official Committee of Unsecured Creditors appointed in Scrub
Island's cases has retained Robert B. Glenn, Esq., Edwin G. Rice,
Esq., and Victoria D. Critchlow, Esq., at Glenn Rasmussen, P.A.,
as general counsel.


SEGREST SALTWATER: Case Summary & 16 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Segrest Saltwater Resources, LLC
        317 Cape Henry Dr.
        Corpus Christi, TX 78412

Case No.: 15-20048

Chapter 11 Petition Date: January 27, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Corpus Christi)

Judge: Hon. Richard S. Schmidt

Debtor's Counsel: Shelby A Jordan, Esq.
                  JORDAN HYDEN WOMBLE CULBRETH & HOLZER, PC
                  500 N Shoreline, Ste 900 N
                  Corpus Christi, TX 78401
                  Tel: 361-884-5678
                  Fax: 361-888-5555
                  Email: ecf@jhwclaw.com
                         sjordan @jhwclaw.com

Total Assets: $6.50 million

Total Liabilities: $849,885

The petition was signed by Jason Segrest, managing member.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb15-20048.pdf


SEQUENOM INC: BlackRock Reports 7.5% Stake as of Dec. 31
--------------------------------------------------------
BlackRock, Inc., reported in an amended Schedule 13G filed with the
U.S. Securities and Exchange Commission that as of Dec. 31, 2014,
it beneficially owned 8,824,812 shares of common stock of
Sequenom, Inc., representing 7.5 percent of the shares outstanding.
A copy of the regulatory filing is available for free at
http://is.gd/NL6cQ2

                           About Sequenom

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

Sequenom incurred a net loss of $107.4 million in 2013, a net
loss of $117 million in 2012 and a net loss of $74.1 million in
2011.

As of Sept. 30, 2014, the Company had $135 million in total
assets, $186 million in total liabilities, and a $51.9 million
total stockholders' deficit.


SILVERADO STREET: Creditors' Meeting Continued to Feb. 3
--------------------------------------------------------
The U.S. trustee overseeing the bankruptcy case of Silverado
Street, LLC will continue the meeting of creditors on Feb. 3, at
10:00 a.m., according to a filing with the U.S. Bankruptcy Court
for the Southern District of California.

The meeting will be held at Emerald Plaza Building, Suite 660 (B),
Hearing Room B, 402 W. Broadway, in San Diego, California.

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 Silverado Street

Silverado Street, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Cal. Case No. 14-09543) on Dec. 9, 2014, disclosing
$11.3 million in total liabilities and total assets of $21.8
million.  The petition was signed by Amr Aljassim as managing
member.  James Lee, Esq., at Legal Offices of James J. Lee, serves
as the Debtor's counsel.  Judge Christopher B. Latham presides over
the case.


SKYMALL LLC: Blames Financial Problems on Evolving Retail Industry
------------------------------------------------------------------
SkyMall, LLC acting CEO Scott Wiley said in the bankruptcy filing
that the Company's financial and operational difficulties are a
result of the evolving retail industry, as well as technology and
business changes.

According to Brittny Mejia at Newsfactor Business Report, the
Company has been struggling to deal with the increased use of
mobile digital devices on planes, which provide potential clients
with other distractions besides its catalog.  Mr. Wiley said in
court documents, "With the increased use of electronic devices on
planes, fewer people browsed the SkyMall in-flight catalog."

The Company closed down its catalog business and laid off 47 of its
150 workers on Jan. 16, 2015, court documents state.

Newsfactor Business Report recalls that the Company lost its
contracts with Delta Air Lines and Southwest Airlines in 2014.

Christine C. Noel at 9news.com relates that Not Steve Schrier, who
created Straight Up Chess Boards in 2007 and who sent the Company
45 wooden vertical chess boards, each retailing about $200, said
that the Company owes him $8,000.  According to 9news.com, Mr.
Schrier said he tried to contact the Company on Monday but he
received a recording saying the company offices were closed.

Carina Dominguez at Cronkite News reports that the Company's
founder, Bob Worsley, called the bankruptcy tragic, but is hopeful
that "with a cleaned up balance sheet, there's opportunity for the
company to reemerge."

Headquartered in Phoenix, Arizona, SkyMall, LLC, is the company
behind the ubiquitous in-flight catalogs known for kitschy items
that include Bigfoot Garden Yeti statues, night glow toilet seats
and cat litter robots.

Affiliates SkyMall, LLC, fka SkyMall, Inc. (Bankr. D. Ariz. Case
No. 15-00679), Xhibit Corp., fka NB Manufacturing, Inc. (Bankr. D.
Ariz. Case No. 15-00680), Xhibit Interactive, LLC, fka Xhibit, LLC
(Bankr. D. Ariz. Case No. 15-00682), FlyReply Corp. (Bankr. D.
Ariz. Case No. 15-00684), SHC Parent Corp. (Bankr. D. Ariz. Case
No. 15-00685), SpyFire Interactive, LLC (Bankr. D. Ariz. Case No.
15-00686), Stacked Digital, LLC (Bankr. D. Ariz. Case No.
15-00687), and SkyMall Interests, LLC (Bankr. D. Ariz. Case No.
15-00688) filed separate Chapter 11 bankruptcy petitions on Jan.
22, 2014.  The petitions were signed by Scott Wiley, authorized
signatory.

Judge Brenda K. Martin presides over SkyMall, LLC's case, while
Judge Madeleine C. Wanslee presides over Xhibit Corp.'s and SHC
Parent Corp.'s cases.

John A. Harris, Esq., at Quarles & Brady LLP serves as the Debtors'
bankruptcy counsel.

Cohnreznick Capital Market Securities, LLC, is the Debtors'
financial advisor.

SkyMall, LLC, estimated its assets at between $1 million and $10
million, and its liabilities at between $10 million and $50
million.  Xhibit Corp. estimates its assets and liabilities at
between $100,000 and $500,000 each.  Xhibit Interactive, LLC,
estimates its assets and liabilities at up to $50,000 each.  SHC
Parent Corp. estimates its assets and liabilities at up to $50,000
each.


ST. SIMONS LODGING: Proposes Amanda Williams as Co-Counsel
----------------------------------------------------------
St. Simons Lodging, LLC, seeks approval from the Bankruptcy Court
to employ Amanda F. Williams as co-counsel.

The Debtor wishes to employ Amanda F. Williams --
eamandawilliams@gmail.com -- as co-counsel to represent it in the
bankruptcy proceeding at its standard hourly rates, as such may
change from time to time.  Ms. Williams' hourly rate is $250.

To the best of the Debtor's knowledge, Ms. Williams is a
disinterested party as contemplated by 11 U.S.C. Sec. 101(14).

                     About St. Simons Lodging

St. Simons Lodging, LLC, is the owner of the Ocean Lodge Hotel on
St. Simons Island, Georgia.  The property has 14 luxury suite rooms
with nightly rates of $299 to $439 and a penthouse suite with a
nightly rate of $679.  The property also contains over 14,000
square feet of common space which is available for private parties
and wedding events.  The property operates an up-scale restaurant
and bar.

St. Simons Lodging, LLC, sought Chapter 11 protection (Bankr. S.D.
Ga. Case No. 15-20046) on Jan. 22, 2015, in Brunswick, Georgia.
The Debtor estimated assets and debt of $10 million to $50
million.

The Debtor tapped John A. Christy, Esq., at Schreeder, Wheeler &
Flint, LLP, in Atlanta, Georgia, as counsel, and Amanda Fordham
Williams, Esq., as co-counsel.


ST. SIMONS LODGING: Proposes Schreeder Wheeler as Counsel
---------------------------------------------------------
St. Simons Lodging, LLC, seeks approval from the Bankruptcy Court
to employ John A. Christy and Corle T. Hord of the law firm of
Schreeder, Wheeler & Flint, LLP, as counsel.

The standard hourly rates of the firm as of Jan. 1, 2015 are:

                                          Hourly Rate
                                          -----------
         PARTNERS
         Warren O. Wheeler                    $425
         David H. Flint                       $525
         John A. Christy                      $450
         Mar. W. Forsling                     $395
         Leo Rose III                         $415
         Clifford A. Barshay                  $415
         Lynn C. Stewart                      $335
         Debra A. Wilson                      $335
         Scott D. McAlpine                    $300
         Scott W. Peters                      $335
         J. Carole Thompson Hord              $335
         Barry L. McGraw                      $325
         Michael D. Flint                     $350
         Shira A. Crittendon                  $295
         Amy L. Haywood                       $295

         OF COUNSEL
         Samuel F. Boyte                      $375
         Michelle R. Kraynak                  $285

         ASSOCIATES
         Melissa H. Cohn                      $230
         Donna Beezhold                       $250
         Patricia Williamson                  $285
         Andrew J. Lavoie                     $255
         Michael J. Eshman                    $255
         Kelly Walsh                          $245

         PARALEGALS
         Lawton W. Jordan                     $110
         Kelly S. Layfield                    $195
         Rozlan N. Tabor                      $195

The Debtor said that in order to maintain its business and property
in the pending case, it will be necessary for the Debtor to retain
attorneys to provide various professional services.

To the best of the Debtor's knowledge, the firm, Mr. Christy and
Ms. Hord are disinterested parties as contemplated by 11 U.S.C.
Sec. 101(14).

                     About St. Simons Lodging

St. Simons Lodging, LLC, is the owner of the Ocean Lodge Hotel on
St. Simons Island, Georgia.  The property has 14 luxury suite rooms
with nightly rates of $299 to $439 and a penthouse suite with a
nightly rate of $679.  The property also contains over 14,000
square feet of common space which is available for private parties
and wedding events.  The property operates an up-scale restaurant
and bar.

St. Simons Lodging, LLC, sought Chapter 11 protection (Bankr. S.D.
Ga. Case No. 15-20046) on Jan. 22, 2015, in Brunswick, Georgia.
The Debtor estimated assets and debt of $10 million to $50
million.

The Debtor tapped John A. Christy, Esq., at Schreeder, Wheeler &
Flint, LLP, in Atlanta, Georgia, as counsel, and Amanda Fordham
Williams, Esq., as co-counsel.


ST. SIMONS LODGING: Proposes to Use Hotel Income to Pay Expenses
----------------------------------------------------------------
St. Simons Lodging, LLC, asks the Bankruptcy Court to enter an
interim and final order permitting it to use income collected from
the operation of the Ocean Lodge Hotel which may be claimed as cash
collateral by The Farmers Bank and the U.S. Small Business
Administration for the purposes of meeting current operating
expenses.

According to proposed co-counsel, Amanda F. Williams, normal
operating expenses of the Debtor's property include payroll for
employees, utilities, guest supplies, food and beverages, cleaning
supplies and other expenses incidental to the operation of the
property and serving its guests.  The Debtor submitted proposed
37-day and two-month operating budgets.

The income derived from the Debtor's property may be claimed to be
cash collateral by The Farmers Bank pursuant the Assignment of
Rents and Leases dated March 12, 2008, executed by the Debtor in
favor of The Farmers Bank which secures a note in the original
principal amount of $7.925 million.  In addition, the income
derived from the property may be claimed to be cash collateral by
the U.S. Small Business Administration pursuant to the Assignment
of Rents and Leases dated March 4, 2008, which secured a note in
the original principal amount of $1,997,000.

                     About St. Simons Lodging

St. Simons Lodging, LLC, is the owner of the Ocean Lodge Hotel on
St. Simons Island, Georgia.  The property has 14 luxury suite rooms
with nightly rates of $299 to $439 and a penthouse suite with a
nightly rate of $679.  The property also contains over 14,000
square feet of common space which is available for private parties
and wedding events.  The property operates an up-scale restaurant
and bar.

St. Simons Lodging, LLC, sought Chapter 11 protection (Bankr. S.D.
Ga. Case No. 15-20046) on Jan. 22, 2015, in Brunswick, Georgia.
The Debtor estimated assets and debt of $10 million to $50
million.

The Debtor tapped John A. Christy, Esq., at Schreeder, Wheeler &
Flint, LLP, in Atlanta, Georgia, as counsel, and Amanda Fordham
Williams, Esq., as co-counsel.


ST. SIMONS LODGING: Section 341(a) Meeting Set for Feb. 18
----------------------------------------------------------
A meeting of creditors in the bankruptcy case of St. Simons
Lodging, LLC, will be held on Feb. 18, 2015, at 3:00 p.m. at
Brunswick Meeting Room.  The deadline for general creditors to file
their proofs of claim is on May 19, 2015.  Governmental units have
until July 21, 2015, to submit their proofs of claim.

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

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

St. Simons Lodging, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Ga. Case No. 15-20046) on Jan. 22, 2015.  The petition
was signed by Joseph N. McDonough as manager.  The Debtor estimated
assets and liabilities of $10 million to $50 million.
John A. Christy, Esq., and Carole T. Hord, Esq., at Schreeder,
Wheeler & Flint, LLP, serve as the Debtor's counsel.  Amanda
Fordham Williams, Esq., at Amanda F. Williams, Attorney at Law,
acts as the Debtor's co-counsel.  Judge John S. Dalis presides over
the case.

The Debtor is the owner of the Ocean Lodge Hotel on St. Simons
Island, Georgia.


STATE FISH: Los Angeles Distributor Files for Bankruptcy
--------------------------------------------------------
Stephanie Gleason, writing for Daily Bankruptcy Review, reported
that State Fish Co., a Los Angeles fish distributor, has filed for
Chapter 11 bankruptcy amid a family feud and in hopes of relieving
a liquidity crunch ahead of the April fishing season.

According to the report, court papers showed that the family's
battles have diverted attention away from the operations of the
company, which was founded by the DeLuca family in 1932 and has
since run a fish market in the San Pedro wharf.


SUN BANCORP: Incurs $2.8 Million Net Loss in Fourth Quarter
-----------------------------------------------------------
Sun Bancorp, Inc., reported a net loss available to common
shareholders of $2.82 million on $19.8 million of total interest
income for the three months ended Dec. 31, 2014, compared to a net
loss available to common shareholders of $8.21 million on $25.5
million of total interest income for the same period during the
prior year.

For the year ended Dec. 31, 2014, the Company reported a net loss
available to common shareholders of $29.8 million on $90.2 million
of total interest income compared to a net loss available to common
shareholders of $9.94 million on $105.08 million of total interest
income during the prior year.

As of Dec. 31, 2014, Sun Bancorp had $2.71 billion in total assets,
$2.47 billion in total liabilities and $245 million in total
shareholders' equity.

"During the fourth quarter, we brought several facets of our
restructuring plans to completion, including the successful exit
from our Sun Home Loans residential mortgage banking business and
asset-based lending," said president & CEO Thomas M. O'Brien.  "In
addition, we took further actions to rationalize our expense base
and delivery platform, which included the consolidation of three
branches, addressing our short and long-term occupancy needs and
expenses.  The year 2014 was one of fundamental transition for the
Company.  In the course of a few short months, we put enormous
legacy costs behind us, successfully exited several higher risk
business lines, restructured our geographic footprint, raised new
equity capital, improved credit quality metrics to very strong
measures and built a strong management as well as new lending
teams.  This list of accomplishments represents a very focused and
aggressive commitment of time and energy by both Management and the
Board of Directors.  We would not have achieved such success in our
restructuring efforts to date without that support."

"We enter 2015 in much stronger financial condition and with the
prospects for profitability finally in sight," continued O'Brien.
"Absent the lease vacancy charge of $2.3 million and the owned real
estate write-down of $0.8 million, the hint of some modest
profitability is evident.  Nonetheless, much remains to be done and
our energies remain focused on concluding the difficult chapter of
the past few years.  While we will continue to create further
efficiencies in 2015, the primary focus will now turn to liquidity
deployment and achieving sustained profitability."

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

                       http://is.gd/XI0H9j

                        About Sun Bancorp

Sun Bancorp, Inc. (NASDAQ: SNBC) is a bank holding company
headquartered in Vineland, New Jersey, with its executive offices
located in Mt. Laurel, New Jersey.  Its primary subsidiary is Sun
National Bank, a full service commercial bank serving customers
through more than 60 locations in New Jersey.

On April 15, 2010, Sun National Bank entered into a written
agreement with the OCC which contained requirements to develop and
implement a profitability and capital plan which provides for the
maintenance of adequate capital to support the Bank's risk profile
in the current economic environment.


TARGET CANADA: Seeks Creditor Protection in Ontario; Monitor Named
------------------------------------------------------------------
Target Canada Co. and the Additional Applicants commenced on
January 15, 2015, court-supervised restructuring proceedings under
the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as
amended.

On the same day, the Ontario Superior Court of Justice (Commercial
List) granted an order, which, among other things, provides for a
stay of proceedings until February 13, 2015.  The Stay Period may
be extended by the Court from time to time. Although not
Applicants, the protections and authorizations provided for in the
Initial Order have been extended to the Partnerships.

Also pursuant to the Initial Order, Alvarez & Marsal Canada Inc.
was appointed as monitor of the business and financial affairs of
the Target Canada Entities.

The firm said it will post additional relevant information and
documentation related to these proceedings on its website at
www.alvarezandmarsal.com/targetcanada

For further information, contact the directly at:

  Alvarez & Marsal Canada Inc.
  Royal Bank Plaza, South Tower
  200 Bay Street, Suite 2900
  P.O. Box 22
  Toronto ON MSJ 2Jl
  Attention: Target Canada Monitor
  Tel: 1-844-864-9548
  Email: targetcanada.monitor@alvarezandmarsal.com

Additional Applicants

  Target Canada Health Co.
  Target Canada Mobile GP Co.
  Target Canada Pharmacy (Be) Corp.
  Target Canada Pharmacy (Ontario) Corp.
  Target Canada Pharmacy Corp.
  Target Canada Pharmacy (SK)Corp.
  Target Canada Property LLC

Partnerships

  Target Canada Pharmacy Franchising LP
  Target Canada Mobile LP
  Target Canada Property LP

Target Corporation -- http://www.target.com/-- is engaged in
providing everyday essentials and fashionable, and differentiated
merchandise at discounted prices.  The Company operates in two
segments: U.S. and Canadian.  The U.S. Segment includes all of its
the United States retail operations, including digital sales.  The
Canadian segment offers retail operations in Canada. The Company's
owned brands include Archer Farms, Gilligan & O'Malley, Sutton &
Dodge, Simply Balanced, Market Pantry, Threshold, Boots & Barkley,
Merona, up & up, CHEFS, Room Essentials, Wine Cube, Circo, Smith &
Hawken, Xhilaration, Embark and Spritz, among others.  Target
operates through a network of approximately 1,801 stores.  The
Company sells an assortment of general merchandise and food.  The
Company's general merchandise and City Target stores offer an
edited food assortment, including perishables, dry grocery, dairy
and frozen items.


TENET HEALTHCARE: BlackRock Reports 7.1% Stake as of Dec. 31
------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, BlackRock, Inc., disclosed that as of Dec. 31,
2014, it beneficially owned 6,996,943 shares of common stock of
Tenet Healthcare Corp. representing 7.1 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/ixFScX

                            About Tenet

Tenet Healthcare Corporation is a national, diversified healthcare
services company with more than 105,000 employees united around a
common mission: to help people live happier, healthier lives.  The
Company operates 80 hospitals, more than 210 outpatient centers,
six health plans and Conifer Health Solutions, a leading provider
of healthcare business process services in the areas of revenue
cycle management, value based care and patient communications.  For
more information, please visit www.tenethealth.com.

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

The Company's balance sheet at Sept. 30, 2014, showed $17.3
billion in total assets, $16.05 billion in total liabilities, $396
million in redeemable noncontrolling interests in equity of
consolidated subsidiaries, and $866 million in total equity.

                             *    *    *

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


TOWN HOLDING: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Town Holding Corp.
        711 South Columbus Avenue
        Mount Vernon, NY 10550

Case No.: 15-22125

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 28, 2015

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Debtor's Counsel: Clifford A. Katz, Esq.
                  PLATZER, SWERGOLD, LEVINE, GOLDBERG, KATZ &
JASLOW, LLP
                  475 Park Avenue, South, 18th Floor
                  New York, NY 10016
                  Tel: (212) 593-3000
                  Fax: (212) 593-0353
                  Email: ckatz@platzerlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kenneth Lazala, treasurer and general
manager.

A list of the Debtor's three largest unsecured creditors is
available for free at
http://bankrupt.com/misc/nysb15-22125.pdf


US COAL: Has Authority to Auction JAD Debtors' Assets
-----------------------------------------------------
The Hon. Tracey N. Wise of the U.S. Bankruptcy Court for the
Eastern District of Kentucky approved Licking River Resources,
Inc., et al.'s proposed bidding procedures for the sale of all
assets of J.A.D. Coal Company, Inc., Fox Knob Coal Company, Inc.,
and Sandlick Coal Company, LLC.

The hearing to consider the sale of substantially all of the  JAD
Debtors' assets, including assumption and assignment of contracts
and leases, will be held on Feb. 27, 2015, at 9:30 a.m. EST in the
United States Bankruptcy Court for the Eastern District of
Kentucky, 100 East Vine Street, Third Floor, Lexington, Kentucky.


The sale motion will be filed on or before Feb. 11, 2015, and the
Debtors will file a supplement to the sale motion(s) providing
notice of the successful bidder(s) for the assets on or before Feb.
24, 2015.

                 About U.S. Coal and Licking River

On May 22, 2014, an involuntary Chapter 11 petition was filed
against Licking River Mining, LLC, before the United States
Bankruptcy Court for the Eastern District of Kentucky.  On May 23,
2014, an involuntary Chapter 11 petition was filed against Licking
River Resources, Inc. and Fox Knob Coal., Inc.  On June 3, 2014, an
involuntary Chapter 11 petition was filed against S.M. & J.,
Inc. On June 4, 2014, an involuntary Chapter 11 petition was filed
against J.A.D. Coal Company, Inc.  On June 12, 2014, the Court
entered an order for relief in each of the bankruptcy cases.

On June 10, 2014, an involuntary Chapter 11 petition was filed
against U.S. Coal Corporation.  On June 27, 2014, the Court
entered an order for relief in U.S. Coal's bankruptcy case.

On Nov. 4, 2014, Harlan County Mining, LLC, Oak Hill Coal, Inc.,
Sandlick Coal Company, LLC, and U.S. Coal Marketing, LLC, filed
petitions in the United States Bankruptcy Court for the Eastern
District of Kentucky seeking relief under chapter 11 of the United
States Bankruptcy Code.  The Debtors' cases have been assigned to
Chief Judge Tracey N. Wise.  The Debtors are seeking to have their
cases jointly administered for procedural purposes, meaning that
upon entry of such an order all pleadings will be maintained on the
case docket for Licking River Mining, LLC, Case No. 14-10201.

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1)
the Licking River Division that was formed through the acquisition

of LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in
January 2007 for $33 million., and (2) the J.A.D. Division that
was formed through the acquisition of JAD and Fox Knob, and
Sandlick Coal Company, LLC and Harlan County Mining, LLC in April
2008 for $41 million.  Both the LRR Division and the JAD Division
are located in the Central Appalachia region of eastern Kentucky.
The LRR Division has approximately 26.3 million tons of surface
reserves under lease.  The JAD Division has 24.4 million tons of
surface reserves, both leased and owned real property.  At
present, U.S. Coal has three surface mines in operation between
the LRR Division and JAD Division.

The Official Committee of Unsecured Creditors has tapped Barber
Law PLLC and Foley & Lardner as attorneys.

The Debtors are represented by Amelia Martin Adams, Esq., and
Laura Day DelCotto, Esq. of Delcotto Law Group PLLC; and Dennis J.
Drebsky, Esq., and Christopher M. Desiderio, Esq., of Nixon
Peabody LLP.



VUZIX CORP: To List Shares on NASDAQ Capital Market
---------------------------------------------------
Vuzix Corporation has received approval from the NASDAQ Stock
Market LLC for the listing of its common stock on the NASDAQ
Capital Market.  Vuzix common stock will retain the ticker symbol
"VUZI" and will commence trading on the NASDAQ Capital Market on
Jan. 28, 2015.

Paul Travers, CEO and Founder of Vuzix Corporation said, "It has
always been our intention to be a NASDAQ-listed company and we have
now achieved that goal for our shareholders.  Our recent investment
from Intel Corporation and the related transactions not only
provided us with the capital to accelerate products around our next
generation wearable technology, but also transformed our balance
sheet to meet NASDAQ's listing criteria.  With this listing on a
U.S. national securities exchange, we believe we will be able to
enhance our Company visibility as we continue to seek to improve
shareholder value moving forward."

                      About Vuzix Corporation

Vuzix -- http://www.vuzix.com/-- is a supplier of Video Eyewear
products in the consumer, commercial and entertainment markets.
The Company's products, personal display devices that offer users
a portable high quality viewing experience, provide solutions for
mobility, wearable displays and virtual and augmented reality.
Vuzix holds 33 patents and 15 additional patents pending and
numerous IP licenses in the Video Eyewear field.  Founded in 1997,
Vuzix is a public company with offices in Rochester, NY, Oxford,
UK and Tokyo, Japan.

As of Sept. 30, 2014, the Company had $3.94 million in total
assets, $13.9 million in total liabilities and a $9.97 million
stockholders' deficit.

The Company's independent registered public accounting firm, EFP
Rotenberg, LLP, in Rochester, New York, included in its report on
the consolidated financial statements for the years ended Dec. 31,
2013, and 2012 an explanatory paragraph describing the existence
of conditions that raise substantial doubt about the Company's
ability to continue as a going concern, including continued
operating losses and the potential inability to pay currently due
debts.  The Company has incurred a net loss from continuing
operations consistently over the last 2 years.  The Company
incurred annual net losses from its continuing operations of
$10.1 million in 2013 and $4.75 million in 2012, and has an
accumulated deficit of $36.3 million as of Dec. 31, 2013.  The
Company's ongoing losses have had a significant negative impact on
the Company's financial position and liquidity, EFP Rotenberg
said.



WESTCHESTER COUNTY: S&P Affirms BB+ Rating on Notes Due 2045
------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on one tranche
and affirmed its ratings on three tranches from Westchester
County's tobacco settlement asset-backed bonds series 2005.  All
outstanding classes of this series were originally issued and rated
in 2005 and are backed by tobacco settlement revenues due to
Westchester County as part of a master settlement agreement between
participating tobacco companies and the settling states.

The rated portion of Westchester County's series 2005 consists of
turbo term bonds maturing between 2021 and 2045.

The rating actions reflect S&P's view of the transaction's
performance under a series of stressed cash flow scenarios,
including:

   -- A cigarette volume decline test that assesses if the
      transaction can withstand annual declines in cigarette
      shipments;

   -- Payment disruptions by the largest of the participating
      manufacturers, by market share, at various points over the
      transaction's term to reflect a Chapter 11 bankruptcy
      filing; and

   -- A liquidity stress test to account for settlement amount
      disputes by participating manufacturers, as a result of
      changes to their market share, which continues to shift to
      nonparticipating manufacturers.

The upgraded tranche has used principal paydowns to reduce its
outstanding balance to $4.65 million, which is less than 16% of its
initial balance.  As part of S&P's review for an upgrade, the
tranche was required to pass additional volume decline sensitivity
tests commensurate with the higher rating level.

S&P affirmed its ratings on the other three classes because it
believes they will make timely interest and principal payments
under all three stress scenarios commensurate with the current
ratings.

S&P's analysis also reflects developments within the tobacco
industry.  S&P views the U.S. tobacco industry as having a stable
rating outlook based on the high brand equity and pricing power of
the top three manufacturers' conventional cigarette brands.  In
S&P's view, this should help offset ongoing cigarette volume
declines and allow for sustained cash flows.  However, changing
regulations and ongoing litigation risk are constraining factors
the industry faces.

RATING RAISED

Westchester County
US$216.6 million tobacco settlement asset-backed bonds series 2005

                                   Rating       Rating
Class     Cusip       Maturity     To           From
2005      957480AC0   6/1/2021     BBB+ (sf)    BBB (sf)

RATINGS AFFIRMED

Westchester County
US$216.6 million tobacco settlement asset-backed bonds series 2005

Class     Cusip       Maturity     Rating
2005      957480AD8   6/1/2026     BBB (sf)
2005      957480AE6   6/1/2038     BBB (sf)
2005      957480AF3   6/1/2045     BB+ (sf)



WET SEAL: Has Interim Approval of Equity Trading Protocol
---------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware gave The Wet Seal, Inc., et al., interim
authority to establish notification procedures to restrict certain
transfers of equity interests in and claims against the Debtors in
order to preserve the Debtors' tax attributes.

Pursuant to the interim order, any person or entity that
beneficially owns WSI Stock in an amount sufficient to qualify the
person or entity as a substantial equityholder must file with the
Court a Notice of Substantial Stock Ownership.  A "Substantial
Equityholder" is any person or entity that beneficially owns, or
any entity controlled by the person or entity through which that
person or entity beneficially owns, at least 4.75% of all issued
and outstanding shares of WSI Stock.

Pursuant to the interim order, any person or entity that currently
is or becomes a substantial claimholder must file with the Court a
Notice of Substantial Claimholder.  A "Substantial Claimholder"
means any person or entity that beneficially owns an aggregate
dollar amount of claims against the Debtors, or any entity
controlled by the person or entity through which that person or
entity beneficially owns claims against the Debtors, of more than
the Threshold Amount.  "Threshold Amount" mens, initially, $5.7
million, which amount may be subsequently increased or decreased as
WSI may determine to be appropriate.

Objections if any to the final approval of the request must be
filed on or before Jan. 29, so that these objections may be
considered at a hearing to be held on Feb. 5, 2015, at 2:00 p.m.
(ET).

                          About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.


YINGDE GASES: Moody's Lowers Corporate Family Rating to Ba3
-----------------------------------------------------------
Moody's Investors Service has downgraded Yingde Gases Group Co
Ltd's corporate family rating to Ba3 from Ba2. Moody's has also
downgraded to B1 from Ba3 the senior unsecured rating on the bonds
issued by Yingde Gases Investment Limited and guaranteed by Yingde
Gases.

The ratings outlook is negative.

This rating action concludes the rating review initiated on 10
November 2014.

Ratings Rationale

"The downgrades reflect the considerable operating challenges
Yingde Gases faces, stemming from its heavy exposure to the weak
steel industry and the outstanding litigation against a major
customer. These circumstances will increase the company's liquidity
risk and keep its financial leverage elevated," says Gerwin Ho, a
Moody's Vice President and Senior Analyst.

Moody's expects Yingde Gases' operating cash flow and profitability
to remain pressured in the next 12-18 months, as its major
customers in the steel industry face a challenging operating
environment and tighter bank credit. Yingde Gases' adjusted
operating cash flow has stagnated at RMB800-RMB900 million per
annum since 2011, a level substantially lower than its reported
EBITDA.

The company's cash flow also remains affected by the unresolved
legal dispute with one of its major steel customers, which caused
overdue receivables to rise by about RMB460 million in the first
half of 2014.

This legal dispute further demonstrates that its financially
weakened customers may not have the ability or willingness to honor
agreed contractual terms. As such, Yingde Gases' business model,
which is largely based on take-or-pay contracts, is less resilient
than previously assumed because of some customers' strong
bargaining power over the company.

Given these factors, and despite its plan to slow down its business
expansion and share repurchases, Moody's expects its free cash flow
to remain negative and its business to continue to rely on external
borrowings.

In this regard, Moody's expects the company's adjusted debt/EBITDA
to remain 4.0x-4.5x and adjusted operating cash flow to debt to
stay below 10% in the next 12-18 months. Such credit metrics
position the company in the low Ba rating category.

Yingde Gases' liquidity will remain tight given its low cash
holdings and large short-term debt. Moody's cautions that its
previously good ability to raise funds in the financial markets can
weaken if such challenges persist.

Yingde Gases' Ba3 corporate family rating reflects its leading
position in the independent on-site industrial gas market in China
and recurring cash flows from its long-term take-or-pay contracts
with on-site customers, which account for above 80% of its
revenues. On the other hand, its rating is constrained by its heavy
exposure to the steel industry and client concentration.

Yingde Gases' USD notes are rated one notch below its corporate
family rating, given structural subordination at the holding
company level. Yingde Gases has a large amount of onshore debt,
which results from the construction of its gas supply facilities.

The negative rating outlooks reflects Moody's expectation that
Yingde Gases' operating challenges and weak liquidity will keep its
refinancing risk elevated over the next 12-18 months.

Upward rating pressure is unlikely in the near term given the
negative outlook. However, the ratings could return to stable if
Yingde Gases (1) improves its liquidity profile by lengthening its
debt maturity profile; and (2) improves its cash collection, with
operating cash flow to debt rising above 12% and adjusted
debt/EBITDA below 4.5x.

The ratings would be downgraded if (1) Yingde Gases' liquidity risk
is escalated; or (2) its financial profile weakens further, such
that its adjusted debt/EBITDA rises above 5.0x or operating cash
flow to debt declines below 8%-10%.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.

Yingde Gases Group Co Ltd is one of the largest players in the
independent on-site industrial gas market in China. The company
reported RMB7.35 billion in revenues for the 12 months ended June
2014. It had a total of 61 production facilities in operation and
another 38 under development as of June 2014. On-site gas
production accounted for about 80%-90% of Yingde Gases' revenues,
with the rest coming from merchant sales.

The company listed on the Hong Kong Stock Exchange in September
2009. The executive directors and founders, Zhongguo Sun, Zhao
Xiangti and Trevor Raymond Strutt, held 20.18%, 12.79% and 10.02%
equity stakes, respectively, as of June 2014.

The Local Market Analyst for this rating is Jiming Zou, +86 (21)
6101-0381.



[*] Carl Marks Advisors Announces Three Promotions
--------------------------------------------------
Carl Marks Advisors, a consulting and investment banking advisory
firm to middle market companies, on Jan. 13 announced the following
three promotions, effective immediately:

   -- Keith Daniels – Partner, 44
   -- Jonathan Killion – Director, 31
   -- Rob Shapiro – Associate, 25

"We take great pride in promoting from within, and continuously
strive to strengthen our teams across all ranks as well as
efficiently leverage the firm's deep operational and industry
expertise -- both on the advisory and investment banking side of
the business," said Duff Meyercord, partner of Carl Marks Advisors.
"I congratulate all three individuals on their to-date
accomplishments.  We are excited to have Keith serve as a partner
and value his deep expertise in the consulting field as we continue
to grow our services in 2015."

As a Partner on Carl Marks Advisors' Operating team, Mr. Daniels
will work on the advisory side of transactions, leveraging his
extensive operating, finance and vertical sector experience.  
Mr. Daniels joined CMA in 2009, managing projects across the
consumer products, media, food manufacturing, grocery,
distribution, transportation, government/defense, oil & gas and
non-profit industries.  Most recently, he led the restructuring
team that successfully sold Associated Wholesalers, Inc. to C&S
Wholesale Grocers.  Prior to Carl Marks Advisors, Mr. Daniels held
finance and operational roles at companies such as Disney, Philips
Electronics and NewellRubbermaid, and served as CFO of Ascendia
Brands and CFO & COO of Town and Country Living.  He holds a BA
from Princeton University, an MBA from Fuqua School of Business,
Duke University, and is a licensed CPA in Pennsylvania and
Virginia.

Jonathan Killion, a Director in the firm's Consulting team, brings
nearly 10 years of financial services experience, including deep
expertise in financial restructuring and investment banking.  In
2014, Mr. Killion served as a strategic advisor to DayMen Group,
advising the Company through a complex recapitalization.
Mr. Killion also served as advisor and banker to Midstate Mills,
which was named the winner of the Distressed M&A Deal of the Year
(between $10 and $50 million) by M&A Advisor in 2014 for its sale
to Renovo Capital LLC.  Mr. Killion earned a BS in Business
Administration from Georgetown University and currently serves as
the President of the Northern New Jersey Georgetown Alumni Club.

Rob Shapiro joined Carl Marks Advisors' Consulting team in 2012 and
focuses primarily on providing financial advisory services to
Companies and their capital providers.  Mr. Shapiro's experience
spans numerous sectors where he assists clients in chapter 11
bankruptcies, loan restructurings and operational improvement.
Notable 2014 engagements included the bankruptcy filing and
eventual sale of Landauer-Metropolitan Inc, the debt restructuring
of Fleetgistics and the performance improvement of the Western
Michigan University Thomas Cooley Law School.  Mr. Shapiro holds a
BA with honors from Colorado College.

                     About Carl Marks Advisors

Carl Marks Advisory Group LLC -- http://www.carlmarks.com/-- is a
New York-based consulting and investment banking advisory firm
serving middle market companies, provides an array of investment
banking and operational services including mergers and acquisitions
advice, sourcing of capital, financial restructuring plans,
strategic business assessments, improvement plans and interim
management.

The award-winning firm was included in the Global M&A Network 2014
annual listing of the Top 100 Restructuring and Turnaround
Professionals; received the 2013 & 2014 Turnaround Atlas Awards'
Middle Market Restructuring Investment Banker of the Year; 2013 M&A
Advisor's Sector Financing Deal of the Year (Real Estate); the 2013
Turnaround Atlas Awards' Healthcare Services Turnaround of the Year
and Mid Markets Restructuring Investment Bank of the Year.

Securities are offered through Carl Marks Securities LLC, member
FINRA and SIPC.


[*] Chapter 11 Bankruptcy Filings Drop 19% in Calendar Year 2014
----------------------------------------------------------------
During the 12-month period ending Dec. 31, 2014, a total of 936,795
cases were filed in federal bankruptcy courts, down from the
1,071,932 bankruptcy cases filed in calendar year 2013 -- a 12.6%
drop in filings.

Business related bankruptcies have seen a 19% drop from fiscal year
2013, and a 52% decline from fiscal year 2010 (Years Ended Sept.
30, 2007-2014):

     Fiscal Year      No. of Business Cases
     -----------      ---------------------
     2014                    26,983
     2013                    33,212
     2012                    40,075
     2011                    47,806
     2010                    56,282

Chapter 11 filings have seen a 19% drop from calendar 2013, and a
47% decline from calendar 2010 (Period Ending Dec. 31, 2010-2014):

     Calendar Year    No. of Chapter 11 Cases
     -------------    -----------------------
     2014                     7,234
     2013                     8,980
     2012                    10,361
     2011                    11,529
     2010                    13,713


[*] Corporate Ch 11 Filings Remain Low in 2014, Report Says
-----------------------------------------------------------
Jay M. Goffman, George N. Panagakis, David M. Turetsky and Ken
Ziman, writing for Lexology.com, report that corporate Chapter 11
filings dropped slightly in 2014 from 2013, remaining relatively
low due to a robust capital market environment, low interest rates
and easy access to financing.

Lexology.com relates that highly leveraged borrowers that might
otherwise have been Chapter 11 restructuring candidates were able
to refinance or pursue other nonjudicial restructuring
alternatives.

According to Lexology.com, business bankruptcies dropped 16% to an
estimated 6,453 in 2014 from 2013.  Most corporate bankruptcy
filings were made in the District of Delaware and the Southern
District of New York, attracting more than 14% of all 2014
corporate bankruptcy cases filed and 17% of all the cases filed
since 2001, the report says.


[*] Large Private Equity Firms Flex Remediation Muscles, Fitch Says
-------------------------------------------------------------------
Fitch Ratings says large private equity firms are increasingly
flexing their scale, balance sheets, restructuring experience and
connections with creditors and limited partners to tighten control
and enhance return potential on investments.  Recent examples
include Apollo's and TPG's decision on Jan. 15, 2015, to
voluntarily place the largest operating subsidiary of Caesars
Entertainment Corp. into a Chapter 11 bankruptcy and KKR's
follow-on private placement investment in First Data Corporation in
June 2014.

While the activities can bring creditors' competing interests to
the forefront, they also underscore the fiduciary responsibility of
alternative investment managers to maximize returns for their
limited partners through all available means.  To the extent that
managers are able to translate these activities into enhanced
returns (or minimized losses) it can serve to support future
fundraising and the overall franchise, both of which are important
rating considerations when assessing investment managers.

In the Caesars case, Apollo has deployed aggressive tactics in an
effort to retain control despite minimal recovery prospects for the
most junior creditors.  Maneuvers have included the sale of assets
to affiliates at attractive multiples, repaying junior intercompany
debt at par and the release of parent company guarantees of the
debt at the weakest subsidiary.  Apollo's reputation and long track
record of achieving outsized returns on distressed-for-control
situations has helped drive the managers' efforts and built some
consensus among creditors.  However, others among Caesars'
creditors have aggressively pushed back, so further legal and court
action is possible.

Fitch believes that the largest private equity firms have also
become more willing to use their balance sheets as a strategic
advantage.  This was demonstrated with First Data in 2014, when KKR
itself committed part of the funding for a follow-on $3.5 billion
investment in the portfolio company it originally bought in a 2007
LBO.  KKR made its investment through a combination of $500 million
from its 2006 Fund, $700 million from its own balance sheet, and $2
billion in co-investments from third-party investors.  The
maneuvers, while demonstrating flexibility, create the type of
balance sheet concentration that can constrain a private equity
firm's rating, or, in a scenario where the investment becomes
degraded, potentially pressure the rating.

The Caesars and First Data examples show that as large private
equity firms have grown their balance sheets and connections with
large limited partners that are increasingly interested in
co-investment opportunities, there is greater access to investment
capital to weather downturns and improve capital structure
positioning for IPOs.  A Preqin survey released in 2014 supported
the trend, pointing out that of the group of LPs surveyed who had
already co-invested alongside a private equity firm, 56% planned to
increase their activity in this type of investment over the next 12
months.  The trend reduces the overall average management and carry
fee percentages paid by large LPs, but allows PE firms to maintain
or increase overall investment levels.  The number of club deals,
or transactions shared by more than one private equity firm, has
declined as a result, because firms are able to write bigger equity
checks by combining fund capital, with co-investment commitments,
and balance sheet investment capacity.

In both the Caesars and First Data examples, private equity's long
investment cycle is providing the time to work through challenges,
wait out market declines and achieve the debt reductions necessary
to improve the prospect of achieving targeted returns on invested
capital.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re St. George Express, LLC
   Bankr. D. Utah Case No. 15-20049
      Chapter 11 Petition filed January 5, 2014
         See http://bankrupt.com/misc/utb15-20049.pdf
         represented by: Andres Diaz, Esq.
                         RED ROCK LEGAL SERVICES P.L.L.C.
                         E-mail: courtmailrr@expresslaw.com

In re Legends West Inc.
   Bankr. D. Idaho Case No. 15-00055
      Chapter 11 Petition filed January 16, 2015
         See http://bankrupt.com/misc/idb15-00055.pdf
         represented by: Paul K. Knight, Esq.
                         KNIGHT LAW OFFICES LLC
                         E-mail: paulknightattorney@gmail.com

In re Maria De La Luz Moran
   Bankr. C.D. Cal. Case No. 15-10750
      Chapter 11 Petition filed January 19, 2015

In re Smith & Company Restoration Products, Inc.
        dba Smith & Co.
   Bankr. N.D. Cal. Case No. 15-40177
      Chapter 11 Petition filed January 19, 2015
         See http://bankrupt.com/misc/canb15-40177.pdf
         represented by: James F. Beiden, Esq.
                         LAW OFFICES OF JAMES F. BEIDEN
                         E-mail: attyjfb@yahoo.com

In re Suzanne Mulder Aleshire
   Bankr. N.D. Ill. Case No. 15-01652
      Chapter 11 Petition filed January 19, 2015

In re Nadia 1, Inc.
        dba Rascal House Pizza - University Circle
   Bankr. N.D. Ohio Case No. 15-10214
      Chapter 11 Petition filed January 19, 2015
         See http://bankrupt.com/misc/ohnb15-10214.pdf
         represented by: Scott H. Scharf, Esq.
                         SCOTT H. SCHARF CO., LPA
                         E-mail: scharf@scharflegal.com

In re Marc Keith Knapp
   Bankr. D.S.C. Case No. 15-00277
      Chapter 11 Petition filed January 19, 2015

In re Michael P. Turner
   Bankr. W.D. Tex. Case No. 15-10084
      Chapter 11 Petition filed January 19, 2015

In re Fresno County Sportsmen's Club
   Bankr. E.D. Cal. Case No. 15-10161
      Chapter 11 Petition filed January 20, 2015
         See http://bankrupt.com/misc/caeb15-10161.pdf
         represented by: Peter L. Fear
                         FEAR LAW GROUP, P.C.
                         E-mail: pfear@fearlaw.com

In re Valley Medical Systems, Inc.
   Bankr. E.D. Cal. Case No. 15-10164
      Chapter 11 Petition filed January 20, 2015
         See http://bankrupt.com/misc/caeb15-10164.pdf
         represented by: Perry D. Popovich, Esq.

In re Preference Corp
   Bankr. M.D. Fla. Case No. 15-00463
      Chapter 11 Petition filed January 20, 2015
         See http://bankrupt.com/misc/flmb15-00463.pdf
         represented by: Arvind Mahendru, Esq.

In re 7453 Wingshadow, LLC
   Bankr. D. Ariz. Case No. 15-00509
      Chapter 11 Petition filed January 21, 2015
         Filed Pro Se

In re Skinny Matt's, LLC
        dba The River's Edge Lounge
   Bankr. D. Ariz. Case No. 15-00539
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/azb15-00539.pdf
         represented by: Eric Slocum Sparks, Esq.
                         ERIC SLOCUM SPARKS, P.C.
                         E-mail: law@ericslocumsparkspc.com

In re Jonathan Lee Fisher and Erin Marie Fisher
   Bankr. W.D. Ark. Case No. 15-70146
      Chapter 11 Petition filed January 21, 2015

In re Brian J. Cook and Victoria Velasquez Cook
   Bankr. C.D. Cal. Case No. 15-10768
      Chapter 11 Petition filed January 21, 2015

In re Maria Esmeralda Perez Rosas
   Bankr. C.D. Cal. Case No. 15-10275
      Chapter 11 Petition filed January 21, 2015

In re Ben Wilson and Suzanne Wight Wilson
   Bankr. N.D. Cal. Case No. 15-30063
      Chapter 11 Petition filed January 21, 2015

In re James M. Scott
   Bankr. D. Conn. Case No. 15-50083
      Chapter 11 Petition filed January 21, 2015

In re P3DC1251KSTSE, LLC
   Bankr. D.D.C. Case No. 15-00031
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/dcb15-00031.pdf
         Filed Pro Se

In re Asem Hasan
   Bankr. M.D. Fla. Case No. 15-00566
      Chapter 11 Petition filed January 21, 2015

In re Prefernce Corp.
   Bankr. M.D. Fla. Case No. 15-00463
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/flmb15-00463.pdf
         represented by: Arvind Mahendru, Esq.
                         E-mail: amtrustee@gmail.com

In re Rusty Cat Inc.
   Bankr. M.D. Fla. Case No. 15-00483
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/flmb15-00483.pdf
         represented by: Patrick J. Thompson, Esq.
                         THOMPSON RYAN P.L.
                         E-mail: law@patrickjthompson.com

In re Iridia G Romero
   Bankr. S.D. Fla. Case No. 15-11186
      Chapter 11 Petition filed January 21, 2015

In re Intangible Assets Inc
        dba Edible Arrangements
   Bankr. N.D. Ga. Case No. 15-51151
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/ganb15-51151.pdf
         represented by: M. Denise Dotson, Esq.
                         M. DENISE DOTSON, LLC
                         E-mail: ddotsonlaw@me.com

In re Carol Leon Lehmann
   Bankr. D. Idaho Case No. 15-20031
      Chapter 11 Petition filed January 21, 2015

In re Do You Love Me? Inc.
        aka DYLM Inc.
   Bankr. D. Idaho Case No. 15-00048
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/idb15-00048.pdf
         represented by: Sarah B. Bratton, Esq.
                         MARTELLE, BRATTON & ASSOCIATES, P.A.
                         E-mail: sarah@martellelaw.com

In re 17100 INC.
   Bankr. N.D. Ill. Case No. 15-01967
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/ilnb15-01967.pdf
         represented by: Chris Goodman, Esq.
                         POMPER & GOODMAN
                         E-mail: cgood100@yahoo.com

In re Ramos Realty, Inc.
   Bankr. D. Md. Case No. 15-10798
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/mdb15-10798.pdf
         represented by: Glen Capers, Esq.
                         CAPERS LAW GROUP PLLC
                         E-mail: glen@caperslaw.com

In re Sara Amado Pina
   Bankr. D. Mass. Case No. 15-10225
      Chapter 11 Petition filed January 21, 2015

In re Saanil Hospitality Mongos Grill, LLC
   Bankr. S.D. Ohio Case No. 15-50293
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/ohsb15-50293.pdf
         represented by: Arnold S. White, Esq.
                         WHITE & FISH LPA, INC.
                         E-mail: awhite@centralohioattorneys.com

In re James A. Cripe
   Bankr. W.D. Pa. Case No. 15-10070
      Chapter 11 Petition filed January 21, 2015

In re Christina D. Trevenen
   Bankr. W.D. Pa. Case No. 15-20201
      Chapter 11 Petition filed January 21, 2015

In re Walter Lee Odom, III
   Bankr. M.D. Tenn. Case No. 15-00350
      Chapter 11 Petition filed January 21, 2015

In re W.L. Odom Enterprises, Inc.
   Bankr. M.D. Tenn. Case No. 15-00352
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/tnmb15-00352.pdf
         represented by: Steven L. Lefkovitz, Esq.
                         LAW OFFICES LEFKOVITZ & LEFKOVITZ
                         E-mail: slefkovitz@lefkovitz.com

In re Tomahawk Resources, LLC
   Bankr. W.D. Tex. Case No. 15-70010
      Chapter 11 Petition filed January 21, 2015
         See http://bankrupt.com/misc/txwb15-70010.pdf
         represented by: Max R. Tarbox, Esq.
                         TARBOX LAW, P.C.
                         E-mail: max@tarboxlaw.com

In re Robert Brian Mcmahon and Danita Cronin Mcmahon
   Bankr. D. Ariz. Case No. 15-00672
      Chapter 11 Petition filed January 22, 2015

In re Shadow Hills, LLC
   Bankr. D. Ariz. Case No. 15--00689
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/azb15-00689.pdf
         represented by: Dennis M. Breen, III, Esq.
                         BREEN OLSON & TRENTON, LLP
                         E-mail: dennis@botlawfirm.com

In re State Drive-In Cleaners, Inc.
   Bankr. D. Conn. Case No. 15-50098
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/ctb15-50098.pdf
         represented by: Thomas V. Battaglia, Jr., Esq.
                         LAW OFFICE OF THOMAS V. BATTAGLIA, JR.
                         E-mail: battaglialaw@yahoo.com

In re Billie G. Herndon
   Bankr. M.D. Fla. Case No. 15-00256
      Chapter 11 Petition filed January 22, 2015

In re Taylor Investment Partners II, LLC
   Bankr. N.D. Ga. Case No. 15-51333
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/ganb15-51333.pdf
         represented by: Will B. Geer, Esq.
                         LAW OFFICE OF WILL B. GEER, LLC
                         E-mail: willgeer@atlbankruptcyhelp.com

In re TIP II-Ansley, LLC
   Bankr. N.D. Ga. Case No. 15-51335
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/ganb15-51335.pdf
         represented by: Will B. Geer, Esq.
                         LAW OFFICE OF WILL B. GEER, LLC
                         E-mail: willgeer@atlbankruptcyhelp.com

In re TIP II-Suburban, LLC
   Bankr. N.D. Ga. Case No. 15-51339
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/ganb15-51339.pdf
         represented by: Will B. Geer, Esq.
                         LAW OFFICE OF WILL B. GEER, LLC
                         E-mail: willgeer@atlbankruptcyhelp.com

In re Crush Real Estate Series LLC
   Bankr. D. Mass. Case No. 15-10237
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/mab15-10237.pdf
         represented by: Gary W. Cruickshank, Esq.
                         LAW OFFICE OF GARY W. CRUICKSHANK
                         E-mail: gwc@cruickshank-law.com

In re 411 Rogers Avenue LLC
   Bankr. E.D.N.Y. Case No. 15-40221
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/nyeb15-40221.pdf
         represented by: Solomon Rosengarten
                         E-mail: VOKMA@aol.com

In re 137 Albany LLC
   Bankr. E.D.N.Y. Case No. 15-40239
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/nyeb15-40239.pdf
         Filed Pro Se

In re D-Star Laundromat Inc.
   Bankr. S.D.N.Y. Case No. 15-10123
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/nysb15-10123.pdf
         Filed Pro Se

In re Armando Ochoa-Villavisanis and Evangeline Marie
Sandin-Gregory
   Bankr. D.P.R. Case No. 15-00322
      Chapter 11 Petition filed January 22, 2015

In re Star Ambulance Service, LLC
   Bankr. S.D. Tex. Case No. 15-70041
      Chapter 11 Petition filed January 22, 2015
         See http://bankrupt.com/misc/txsb15-70041.pdf
         represented by: Marcos Demetrio Oliva, Esq.
                         MARCOS D. OLIVA, PC
                         E-mail: marcos@oliva-law.com

In re Patrick Lance Hoppes, II and Venessa Sandoval Hoppes
   Bankr. W.D. Tex. Case No. 15-50199
      Chapter 11 Petition filed January 22, 2015

In re Kerry Vernon Phelps
   Bankr. W.D. Wash. Case No. 15-10355
      Chapter 11 Petition filed January 22, 2015

In re Theodore Thomas Roberts
   Bankr. M.D. Fla. Case No. 15-00618
      Chapter 11 Petition filed January 23, 2015

In re Jagdamba LLC
   Bankr. W.D. Ky. Case No. 15-40051
      Chapter 11 Petition filed January 23, 2015
         See http://bankrupt.com/misc/kywb15-40051.pdf
         represented by: Scott A. Bachert, Esq.
                         KERRICK BACHERT, P.S.C.
                         E-mail: sbachert@kerricklaw.com

In re James R. Unger
   Bankr. D. Md. Case No. 15-10938
      Chapter 11 Petition filed January 23, 2015

In re Ephriam Chukwuemeka Ugwuonye
   Bankr. D. Md. Case No. 15-10942
      Chapter 11 Petition filed January 23, 2015

In re Vincent F. Destasio
   Bankr. D.N.J. Case No. 15-11299
      Chapter 11 Petition filed January 23, 2015

In re Robert R. Fuentes and Nancy C. Fuentes
   Bankr. D.N.M. Case No. 15-10133
      Chapter 11 Petition filed January 23, 2015

In re Nancy Rojas
   Bankr. E.D.N.Y. Case No. 15-40265
      Chapter 11 Petition filed January 23, 2015

In re Armando Ochoa Villavisanis and Evangeline Marie Sandin
Gregory
   Bankr. D.P.R. Case No. 15-00322
      Chapter 11 Petition filed January 23, 2015

In re Vaso Dragicevic and Mirjana Dragicevic
   Bankr. E.D. Wisc. Case No. 15-20558
      Chapter 11 Petition filed January 23, 2015



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

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