TCR_Public/150210.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, February 10, 2015, Vol. 19, No. 41

                            Headlines

3157 REALTY ASSOCIATES: Case Summary & 19 Top Unsecured Creditors
ADVANCE CONCEPT: District Court Stays "Knott" Suit vs. ACC/Bowker
ALTA MESA: S&P Revises Outlook to Negative & Affirms 'B-' CCR
ALTEGRITY INC: Case Summary & 50 Largest Unsecured Creditors
AMERICAN AIRLINES: IRS Granted $7-Mil. Unsecured Claims

AMERICAN AIRLINES: N.D. Cal. Judge Drops "Demetris" Suit v. TWU
AMERICAN SKINCARE: Reaches Chapter 7 Financing Deal
ARAMID ENTERTAINMENT: Jeffer Mangels Targets Deal with Relativity
ARCTIC GLACIER: $35MM Add-on Debt No Impact on Moody's B3 CFR
ARGOS MERGER: Moody's Assigns B1 Corporate Family Rating

ATLANTIC CITY, NJ: Feds Pledge $29M to Aid Displaced Casino Workers
BENTLEY PREMIER: Reorganization Case Administratively Closed
BERNARD L. MADOFF: Prosecutors to Appeal Aides' Sentences
CAL DIVE: Potential Chapter 11 Filing Looms [Corrected Report URL]
CARIBBEAN PETROLEUM: Justices Keep Insurance Distribution Intact

CARMICHAEL CARE: Case Summary & 20 Largest Unsecured Creditors
CASELLA WASTE: Moody's Assigns Caa1 Rating on $60MM Senior Notes
CASELLA WASTE: S&P Raises Sr. Subordinated Notes Rating to 'B-'
CASH STORE: Enters Into Sale Agreement with National Money Mart
COINTERRA INC: Data Center Sues for $5.4MM Delinquency

COLDWATER CREEK: Trustee Approved to Sell $6 Billion Settlement
CONYERS 138: Files Schedules of Assets and Liabilities
COUNTRY STONE: Trinity Packaging Sells $190K Claim to Atradius
CRYOPORT INC: Has Insufficient Revenues for Funding Requirements
DELIAS INC: Can Sell Assets Through Store Closing Sales

DELPHI CORP: Mich. Fights Workers' Comp Ruling at High Court
DIGERATI TECHNOLOGIES: Plan of Reorganization Declared Effective
DREIER LLP: Diamond McCarthy Ex-Partner Can't Escape Texas Court
DREIER LLP: Firm Says Texas' Long Arm Reaches Ex-Partner
EAST LIVERPOOL HOSP: Moody's Lowers $7.6MM Bonds Rating to B2

EDUCATION MANAGEMENT: Attys Doubt Need for 2nd Trial in Row
EMERALD INVESTMENTS: Files Schedules of Assets and Liabilities
ENERGY FUTURE: Claims Fidelity Broke Deal to Sell EFH Notes Tossed
ERNESTO GYUREC: Appeals Court Affirms Dismissal of Suit vs. BONY
EXIDE TECHNOLOGIES: Panel Wants to Expand Lead Price-Fixing Probe

EXIDE TECHNOLOGIES: Posts $63.3 Million Net Loss for FY Q3
FANNIE MAE: Feds Can't Stop Pershing from Dropping Suit
FCC HOLDINGS: Hires Kurtzman Carson as Administrative Agent
FIRST PLACE: Squire Patton Boggs Settles Bankruptcy Fee Suit
FUNDAMENTAL LONG TERM CARE: Firm Says Deadline Extension Invalid

GARLOCK SEALING: $358MM Deal May Shrink Future Fibro Trust Payouts
GARLOCK SEALING: Claims of Dirty Tactics to Renew Transparency Push
GENERAL MOTORS: Bridgestone to Fork Over Part of $85M CERCLA Tab
GENERAL MOTORS: Group Fighting for Pre-Bailout Treasury Email
GGW BRANDS: Trustee Seeks to Recover $330,000 from IRS

GM FINANCIAL: Fitch Retains 'BB+' Rating Following Captive Leasing
GOLDEN GUERNSEY: Launches Spate of Clawbacks Seeking $3.4-Mil.
GONZALES REDEVELOPMENT: S&P Raises Rating on TABs to 'BB+'
GRAPHIC PACKAGING: New Dividend No Impact on Moody's Ba2 Rating
GREEN MOUNTAIN: First Tuskegee Objects to Proposed DIP Financing

GROVE ESTATES: Authorized to Sell York Property for $100K
GROVE ESTATES: Feb. 19 Set as Chapter 11 Plan Confirmation Hearing
GT ADVANCED: Baikowski International Sells Claim to Jefferies
GT ADVANCED: Bid for Trustee Appointment Denied
GT ADVANCED: Hain Capital, TRC Fund Buy Claims in January 2015

GT ADVANCED: Hires PwC as Accounting and Tax Advisor
GTM ENERGY: Order Sustaining Objections to Dobbins Claim Affirmed
HALLMARK COLLECTION: Mid-Continent Not Liable in Copyright Suit
HEI INC: U.S. Trustee Opposes Supply Agreement
HYPERDYNAMICS CORP: Incurs $3.7-Mil. Net Loss for Fourth Quarter

IBAHN CORP: Hon. Laurie Selver Silverstein Now Handles Case
INFERNO DISTRIBUTION: Stroock Faces Malpractice Suit
ITUS CORP: Re-Prices Options for Executives and Directors
IVANHOE ENERGY: Receives Nasdaq Listing Non-Compliance Notice
JEVIC TRANSPORTATION: Drivers Challenge Ch. 11 Deal in 3rd Circ.

KID BRANDS: Dimensional Fund No Longer Holds Shares
KIOR INC: Lead Plaintiffs Balk at Adequacy of Plan Outline
LEHMAN BROTHERS: CFTC Slams Forex Trader's "Dangerous" Claim
LIGHTSQUARED INC: GPS Cos. Seek End to Harbinger Liability Suits
LOMBARD, IL: Chicago Suburb Refuses to Cover Bond Default

LYONDELL CHEMICAL: Stockholders Battle $12.5-Bil. LBO Clawback Suit
MAYER EISENSTEIN: Medical Malpractice Claims Not Dischargeable
MF GLOBAL: Attys Seek Fees in $27M Metals Settlement
MINERAL PARK: Hit with WARN Suit Over Layoffs
MODULAR SPACE: S&P Revises Outlook to Negative & Affirms 'B-' CCR

MOHEGAN TRIBAL: S&P Affirms All Ratings Including 'B-' ICR
MOHEGAN TRIBAL: S&P Assigns B- Issuer Credit Rating; Outlook Stable
MOMENTIVE PERFORMANCE: Top Bondholders Fail in Collateral Suits
NATROL INC: $1.29MM in Claims Switched Hands in 2014 Q4
NORTH AMERICAN HEALTH: Case Summary & 15 Top Unsecured Creditors

NORTH SHORE ENERGY: Case Summary & 20 Largest Unsecured Creditors
NORTHWEST HARDWOODS: Moody's Affirms B2 Corporate Family Rating
NORTHWEST HARDWOODS: S&P Affirms 'B' CCR; Outlook Stable
OVERSEAS SHIPHOLDING: "Odd" Proskauer Suit Against Execs Nixed
PALLISER OIL: To File for Creditor Protection Under CCAA

PARASUCO RETAIL: To Close Seven Retail Stores in Canada
PRECISION MEDICAL: Kipperman Okayed as Chapter 11 Trustee
RADIOSHACK CORP: Fitch Lowers Issuer Default Rating to 'D'
RADIOSHACK CORP: Moody's Cuts Prob. of Default Rating to D-PD
RADIOSHACK CORP: Retains A&G Realty to Manage Sale of Store Leases

RADIOSHACK CORP: S&P Lowers CCR to 'D' on Bankruptcy Filing
RENEWABLE ENERGY: Turner Stone Expresses Going Concern Doubt
RIVER CITY: Hearing Today on Continued Use of Cash Collateral
ROADRUNNER ENTERPRISES: Case Summary & 20 Top Unsecured Creditors
ROCKLIN ACADEMY: S&P Revises Outlook & Affirms 'BB+' Rating

ROYAL MANOR: Grossman Loses Two Appeals Before 6th Circuit BAP
SABRE INDUSTRIES: Moody's Affirms 'B3' Corporate Family Rating
SAMUEL WYLY: IRS Says Widow's Tax Liability Will Surpass $280MM
SARALAND LLLP: Judge Tosses Appeal From Denial to Continue Hearing
SCRUB ISLAND: Court Denies FirstBank PR's Bid to Excuse Receiver

SCRUB ISLAND: FirstBank's Collateral Valued at $37.2 Million
SEA LAUNCH: Satellite JV Partner Drops Some Claims in Boeing Suit
SEVEN COUNTIES: District Court Won't Stay Plan Approval Order
SHELL POINT: S&P Raises Rating on Revenue Debt From 'BB+'
SKYLINE MANOR: Trustee Wants DHHS Barred from Recapture Claim

SPORTMAN'S LINK: 11th Cir. Affirms Denial of Disgorgement Motion
SPRINT CORP: S&P Lowers CCR to 'B+' on Weak Financial Performance
STANFORD GROUP: Chadbourne Says Malpractice Suit is Time-Barred
STOCKTON, CA: Court Issues Ruling on Plan, Franklin Objection
STONERIVER GROUP: Moody's Withdraws B2 Corporate Family Rating

STUYVESANT TOWN: Jr. Creditors Kick $5.4B Loan Fight to State Court
SUNTECH AMERICA: Hires Richards Layton as Bankruptcy Counsel
SUNTECH AMERICA: Taps UpShot Services as Administrative Agent
T-L BRYWOOD: Court OKs Agreement to Value Collateral at $8.35M
TARGET CANADA: Bankr. Filing Prompts Consumer Credit Review

TEXOMA PEANUT: Cash Use Order Amendment Entered
TLO LLC: TransUnion Bids to Hold Ex-Workers in Contempt in IP Fight
TRANSWEST RESORT: Lender Takes Ch. 11 Plan Feud to 9th Circuit
TRIPLANET PARTNERS: Hearing Tomorrow on Exclusivity Extensions
TRONOX LIMITED: Moody's Puts 'Ba3' CFR on Review for Downgrade

UPRIGHT SHORING: Case Summary & 20 Largest Unsecured Creditors
UTGR INC: Ch. 11 Court to Weigh Contingent Value Rights
VELTI PLC: $9.5MM Class Action Settlement, Counsel Fees Approved
W. R. GRACE: Split Announcement No Impact on Moody's 'Ba2' CFR
W.R. GRACE: S&P Lowers Corp. Credit Rating to 'BB+'; Outlook Stable

WAUPACA FOUNDRY: S&P Discontinues 'B+' CCR on Hitachi Deal
WAYNE COUNTY, MI: Moody's Lowers GOLT Debt Rating to 'Ba3'
WBH ENERGY: Hopeful on Deal with $30-Mil. Creditor
WCI COMMUNITIES: Sues Florida Law Firm for Contempt
WET SEAL: Hit with Class Action Over Store Closures

WINDSOR PETROLEUM: Hon. Laurie Selber Silverstein Now Handles Case
WULFORST ACQUISITION: Voluntary Chapter 11 Case Summary
[*] As Oil Prices Drop, Bankruptcy Attys Say Strike Early
[*] Bankruptcy Attorney Mette Kurth Joins Fox Rothschild
[*] Burr & Forman Adds New Commercial Litigation Partner in Fla.

[*] Chartis Says Mexican Bankruptcy Blocks $103M Coverage Suit
[*] Commercial Creditors Urge Reversal on Ch. 7 Junior Liens
[*] NJ Appeals Court Frees Hill Wallack From Malpractice Suit
[*] Quinn Emanuel Pads Houston Expansion with Susman Hire
[*] Ye Cecelia Hong Joins King & Spalding's New York Office

[^] Large Companies With Insolvent Balance Sheet

                            *********

3157 REALTY ASSOCIATES: Case Summary & 19 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: 3157 Realty Associates, LLC
        3210 S. Ocean Blvd, Unit 204
        Highland Beach, FL 33487

Case No.: 15-12280

Chapter 11 Petition Date: February 6, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Paul G. Hyman, Jr.

Debtor's Counsel: Bradley S Shraiberg, Esq.
                  SHRAIBERG, FERRARA, & LANDAU P.A.
                  2385 NW Executive Center Dr. #300
                  Boca Raton, FL 33431
                  Tel: (561) 443-0801
                  Fax: (561) 998-0047
                  Email: bshraiberg@sfl-pa.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Anthony Mannino, Sr., manager.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb15-12280.pdf


ADVANCE CONCEPT: District Court Stays "Knott" Suit vs. ACC/Bowker
-----------------------------------------------------------------
Judge Kenneth Gonzales of the U.S. District Court for the District
of New Mexico stayed the case captioned Jim Knott v. Advance
Concept Construction, LLC and Kurt Bowker, individually, Case No.
13-00005-KG-GBW, pursuant to the bankruptcy filing of ACC.

The matter comes before the District Court upon ACC's Suggestion of
Bankruptcy filed December 8, 2014, indicating that it has filed for
Chapter 11 Bankruptcy in the U.S. Bankruptcy Court for the District
of New Mexico, Case No. 14-13554-t11.

The Plaintiff brought the lawsuit against the Defendants for
violations under the Fair Labor Standards Act and the New Mexico
Minimum Wage Act.

On December 5, 2014, in anticipation of ACC's bankruptcy filing,
the Bankruptcy Court requested summary expedited briefing on
whether the automatic stay should be extended to non-debtor
Defendant Kurt Bowker, who is being sued in his individual
capacity.

The District Court finds that a stay of proceedings against Mr.
Bowker is warranted as the Plaintiff's claims against the
Defendants are intimately intertwined, the relationship between
employer Defendant ACC and employee Defendant Bowker make ACC the
real party in interest, and, more prominently, the possibility that
liability and damages against Mr. Bowker would be imputed to ACC.

Judge Gonzales also notes that neither party opposes extending the
stay to Mr. Bowker.  Hence, the District Court extends the
automatic stay to Mr. Bowker.

A full-text copy of the Order dated December 9, 2014, is available
at http://bit.ly/1IztZYnfrom Leagle.com.

The Plaintiff is represented by:

          Repps D. Stanford, Esq.
          Alice Kilborn, Esq.
          MOODY & WARNER, P.C..
          4169 Montgomery Blvd NE
          Albuquerque, NM 87109
          Telephone: (505) 227-8343
          Facsimile: (505) 944-0034

The Defendants are represented by:

          Dan A. Ribble, Esq.
          LAW FIRM OF DAN A. RIBBLE
          3500 Comanche NE, Building B
          Albuquerque, NM 87107
          Telephone: (505) 884-0770
          Facsimile: (505) 881-7003

Advance Concept Construction, LLC filed a Chapter 11 bankruptcy
petition (Bankr. D. N.M. Case No. 14-13554) on December 4, 2014.


ALTA MESA: S&P Revises Outlook to Negative & Affirms 'B-' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Alta Mesa Holdings L.P. to negative from stable and affirmed its
'B-' corporate credit rating on the company.  The 'CCC+'
issue-level rating and '5' recovery rating on the company's senior
unsecured notes remain unchanged.

"The outlook revision follows Alta Mesa's announcement that it has
terminated the agreement related to the divestiture of its Eagle
Ford Shale assets," said Standard & Poor's credit analyst Daniel
Krauss.  "As a result, we have reassessed the company's liquidity
position to "less than adequate" because the company's absolute
liquidity is materially lower than our previous forecast," said Mr.
Krauss.

In addition, the company's liquidity position could erode further
given the uncertain impact that lower oil and gas prices could have
on the May 1 redetermination of the company's borrowing base.

The ratings on Houston-based Alta Mesa reflect S&P's assessment of
the company's "vulnerable" business risk profile and "highly
leveraged" financial risk profile.  The ratings incorporate the
company's participation in the competitive and highly cyclical oil
and gas industry, its relatively small reserve and production base,
and its modest geographic diversity.  The ratings also incorporate
Alta Mesa's weaker credit measures following the downturn in
commodity prices, S&P's expectation that the company will be
roughly cash flow neutral over the next 12 months, and S&P's
assessment of liquidity as "less than adequate."

S&P views Alta Mesa's financial risk as "highly leveraged,"
reflecting S&P's expectation that key credit measures will weaken
moderately in 2015 with the downturn in oil and gas prices.

S&P assess liquidity as "less than adequate."  S&P believes that
liquidity could erode further if lenders reduce the credit facility
borrowing base at the May 1 or Nov. 1 redetermination, given the
currently low crude oil and natural gas prices.

The negative outlook reflects the potential for a downgrade if
liquidity materially weakens from current levels.  S&P believes the
company's borrowing base could be reduced at the next
redetermination, leaving little cushion for any potential cash flow
shortfall.

S&P could lower the rating if availability under the credit
facility erodes and results in S&P revising its liquidity
assessment to "weak."  In particular, this could occur if the
company's borrowing base is materially reduced at the May 1 or Nov.
1 redetermination.  S&P could also consider a lower rating if the
May 2016 maturity on the company's credit facility is not extended,
given uncertainty regarding Alta Mesa's ability to refinance in the
current market.

S&P could revise the outlook to stable if the company is able to
extend the maturity of its credit facility and S&P expects that
they will be able to maintain "adequate" liquidity.  Specifically,
S&P could revise the outlook to stable if the company is able to
complete a divestiture and use the proceeds to enhance its
liquidity position.



ALTEGRITY INC: Case Summary & 50 Largest Unsecured Creditors
------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

    Debtor                                       Case No.
    ------                                       --------
    Altegrity, Inc.                              15-10226
       aka US Investigations Services, Inc.
    7799 Leesburg Pike
    Suite 1100 North
    Falls Church, VA 22043

    Albatross Holding Company, LLC               15-10227

    Albatross Marketing and Trading, LLC         15-10228

    Altegrity Acquisition Corp.                  15-10229

    Altegrity Holding Corp                       15-10230

    Altegrity Risk International LLC             15-10231

    Altegrity Security Consulting, Inc.          15-10232

    CVM Solutions, LLC                           15-10234

    D, D & C, Inc.                               15-10235

    Engenium Corporation                         15-10236

    FDC Acquisition, Inc.                        15-10237

    HireRight Records Services, Inc.             15-10238

    HireRight Solutions, Inc.                    15-10239

    HireRight Technologies Group, Inc.           15-10240

    HireRight, Inc.                              15-10241

    John D. Cohen, Inc.                          15-10242

    KCMS, Inc.                                   15-10243

    KIA Holding, LLC                             15-10244

    Kroll Associates, Inc.                       15-10245

    Kroll Background America, Inc.               15-10246

    Kroll Crisis Management Group, Inc.          15-10247

    Kroll Cyber Security, Inc.                   15-10248

    Kroll Factual Data, Inc.                     15-10249

    Kroll Holdings, Inc.                         15-10250

    Kroll Inc.                                   15-10251

    Kroll Information Assurance, Inc.            15-10252

    Kroll Information Services, Inc.             15-10253

    Kroll International, Inc.                    15-10254

    Kroll Ontrack Inc.                           15-10255

    Kroll Recovery LLC                           15-10256

    Kroll Security Group, Inc.                   15-10257

    National Diagnostics, Inc.                   15-10258

    Ontrack Data Recovery, Inc.                  15-10259

    Personnel Records International, LLC         15-10260

    The Official Information Company             15-10261

    US Investigations Services, LLC              15-10262

    USIS International, Inc.                     15-10263

    USIS Worldwide, Inc.                         15-10264

Type of Business: The Company is a privately held global,
                  diversified risk and information services
                  company serving commercial customers and
                  government entities.

Chapter 11 Petition Date: February 8, 2015

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

Debtors'           M. Natasha Labovitz, Esq.
General            Jasmine Ball, Esq.
Counsel:           Craig A. Bruens, Esq.
                   DEBEVOISE & PLIMPTON LLP
                   919 Third Avenue
                   New York, NY 10022
                   Tel: 212.909.6000
                   Fax: 212.909.6836
                   Emails: nlabovit@debevoise.com
                           jball@debevoise.com
                           cabruens@debevoise.com

Debtors'          Joseph M. Barry, Esq.
Delaware and      YOUNG, CONAWAY, STARGATT & TAYLOR
Conflicts         1000 North King Street
Counsel:          Wilmington, DE 19801
                  Tel: 302-571-6600
                  Email: jbarry@ycst.com

                    -  and -

                  Ryan M. Bartley, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR, LLP
                  Rodney Square
                  1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Email: rbartley@ycst.com

                    - and -

                  Edmon L. Morton, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR, LLP
                  The Brandywine Bldg.
                  1000 West Street, 17th Floor
                  P.O. Box 391
                  Wilmington, DE 19899
                  Tel: 302 571-6600
                  Fax: 302-571-1253
                  Email: emorton@ycst.com

Debtors'          Stephen Goldstein
Investment        Lloyd Sprung
Banker:           EVERCORE GROUP, LLC
                  55 East 52nd Street
                  New York, NY 10055
                  Tel: 212.857.3100
                  Fax: 212.857.3101

Debtors'          Kevin M. McShea
Restructuring     Carrianne J. M. Basler
Advisors:         ALIXPARTNERS LLP
                  40 West 57th Street
                  New York, NY 10019
                  Tel: 212.490.2500
                  Emails: kmcshea@alixpartners.com
                          cbasler@alixpartners.com

Debtors'          PRIME CLERK LLC
Claims and
Noticing
Agent:

Debtors'          PRICEWATERHOUSECOOPERS LLP
Independent
Auditors:

Total Assets: $1.7 billion as of June 30, 2014

Total Liabilities: $2.1 billion as of June 30, 2014

The petition was signed by Jeffrey S. Campbell, president and chief
financial officer.

Consolidated List of Debtors' 50 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Wilmington Trust, National         Unsecured Debt     $30,161,604
Association
50 South Sixth Street, Suite 1290
Minneapolis, MN 55402
Attn: Global Capital Markets
Fax: (302) 651-8937

Wilmington Trust, National         Unsecured Debt     $11,613,750
Association
50 South Sixth Street, Suite 1290
Minneapolis, MN 55402
Attn: Global Capital Markets
Fax: (302) 651-8937

Wilmington Trust, National         Unsecured Debt     $11,208,739
Association
50 South Sixth Street, Suite 1290
Minneapolis, MN 55402
Attn: Global Capital Markets
Fax: (302) 651-8937

CFIG Ocean Co-Invest SPV, LLC      Unsecured Debt      $4,180,269
11 Madison Avenue, 28th Floor
New York, NY 10010
Fax: (302) 636-5454

Teachers Insurance and Annuity     Unsecured Debt      $3,822,834
Association of America
8500 Andrew Carnegie Blvd. I C3-04
Charlotte, NC 28262
Fax: (800) 914-8922

Watkins, Blanca, And Hoyt,           Litigation        $1,585,000
Spencer
Law Offices of Devin H. Fok
P.O. Box 7165
Alhambra, CA 91802
Attn: Devin H. Fok
Fax: (323) 563-3445

Microsoft Corporation              Promissory Note     $1,408,024
One Microsoft Way
Redmond, WA 95052
Fax: (425) 706.7329

New York State Corp. Tax                 Tax             $751,708  
  
Corporation Tax bank sub-Unit
Building 8 Room 700, WA Harriman
Campus
Albany, NY 12227
Fax: (518) 435-8458

Insight Direct USA, Inc.                Trade            $661,727  
    
P.O. Box 731069
Dallas, TX 7533-1069
Fax: (480) 760-7043
Email: ach@insight.com

WMWare, Inc.                            Trade            $648,805
3401 Hillview Avenue
Palo Alto, CA 93404
Fax: (650) 475-5001

Hewlett-Packard Financial Services   Promissory Note     $573,871
200 Connell Drive, 5th Floor
Berkeley Heights, NJ 07922
Fax: (281) 514-1740

Labcorp                                  Trade           $567,682
P.O. Box 12140
Burlington, NC 27216-2190
Fax: (336) 436-4123

Commerce Center TN Tower LP              Trade           $514,872
100 Centerview Drive, Ste. 155
Nashville, TN 37214
Attn: Lauri Cheatham
Fax: (914) 949-9618

Verizon                                  Trade           $378,398
P.O. Box 660720
Dallas, TX 75266-0720
Fax: (877)789-3130

TALX Corporation                         Trade           $320,175
P.O. Box 790051
St. Louis, MO 63179
Fax: (314) 214-7588

Hitachi                                  Trade           $316,400
50 Prospect Avenue
Tarrytown, NY 10591
Fax: (914) 332-5555

National Student Clearinghouse           Trade           $306,127
P.O. Box 79252
Baltimore, MD 79252
Fax: (703) 742-4239

CapGemini US LLC                         Trade           $293,178
98836 Collection Center Drive
Chicago, IL 60693
Fax: (212) 314-8001

Aetna                                    Trade           $279,663
P.O. Box 13504
Newark, NJ 07188
Email: connellya@aetna.com

Fleishman-Hillard Inc.                   Trade           $263,348
200 N. Broadway
St. Louis, MO 63102
Fax: (314) 231-2313

Blackwell, Leblanc, Waldron LLC          Trade           $248,514

Accordion Partners                       Trade           $245,728

Carousel Industries of North             Trade           $232,070
America Inc.

Deltek Inc.                              Trade           $215,383

Third Avenue Tower Owner LLC             Trade           $205,653

Hygenicsdata LLC                         Trade           $199,445

Fireeye Inc.                             Trade           $179,465

Xcel Energy                              Trade           $170,863

Quest Diagnostics                        Trade           $137,459

Georgia Technology Authority             Trade           $123,374

Nightowl Document Mgmt                   Trade           $113,184
Services, Inc.

Squad Services Inc.                      Trade           $106,196

Accusearch, Inc.                         Trade           $104,266

Three Deep, Inc.                         Trade           $103,227

Tek Systems                              Trade           $100,228

Netforce Global LLC                      Trade            $99,835

Salesforce.com                           Trade            $98,558

Southstar Financial LLC                  Trade            $96,258

LBA REIT IV LLC                          Trade            $92,996

Special Counsel Inc.                     Trade            $89,262

Iron Mountain                            Trade            $85,604

Thomson Financial                        Trade            $84,819

Epam Systems                             Trade            $84,541

S.I.S. Investigations, Inc.              Trade            $83,840

South Carolina Interactive, LLC          Trade            $83,672

TVS Datasource                           Trade            $82,849

Harte-Hanks Response                     Trade            $75,120
Management/Austin Inc.

Windermere LLC                           Trade            $74,584

SMS Systems Maintenance                  Trade            $73,774
Services, Inc.

Rydan Security Inc.                     Trade             $72,222


AMERICAN AIRLINES: IRS Granted $7-Mil. Unsecured Claims
-------------------------------------------------------
Law360 reported that a New York bankruptcy judge approved a
settlement of unsecured claims by the IRS in the bankruptcy case of
former American Airlines parent AMR Corp., saying the agency was
entitled to a $7 million claim.

According to a Jan. 8 filing by AMR, the settlement resolves claims
made by the IRS for $42 million in excise tax penalties for the
company's alleged underfunding of retirement plans, the report
related.

                     About American Airlines

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

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

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

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

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

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

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

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

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

                          *     *     *

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

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

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

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

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


AMERICAN AIRLINES: N.D. Cal. Judge Drops "Demetris" Suit v. TWU
---------------------------------------------------------------
District Judge Vince Chhabria dismissed the lawsuit, DANIEL
DEMETRIS, et al., Plaintiffs, v. TRANSPORT WORKERS UNION OF
AMERICA, AFL-CIO, Defendant, Case No. 13-CV-05566-VC (N.D. Cal.).


During the American Airlines bankruptcy proceedings, American and
the Transport Workers Union of America negotiated new collective
bargaining agreements. As part of those agreements, American
promised TWU an equity stake in the new entity that would come out
of the bankruptcy. TWU had discretion over how to allocate the
equity among the workers it represented.

After the union received the equity but before the union made any
allocation decisions, many senior workers left their jobs at
American in exchange for an early separation package. Later, when
the union decided how to distribute the equity, it chose not to
include the people who had taken early separation.

Daniel Demetris, et al. -- workers who took early separation --
filed a proposed class action against TWU on behalf of themselves
and all other similarly situated TWU members. They contend the
union violated its duty of fair representation by declining to
distribute some of the equity to workers who took early separation.


"Because the plaintiffs' allegations do not create a plausible
inference that TWU's actions were arbitrary, discriminatory, or in
bad faith, TWU's motion to dismiss is granted. Dismissal is with
prejudice because the plaintiffs have identified no means of curing
the defects in the complaint, nor can the Court conceive of any,"
the District Judge said.

A copy of the District Court's February 4, 2015 Order is available
at http://bit.ly/1FpzDH8from Leagle.com.

                     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 SKINCARE: Reaches Chapter 7 Financing Deal
---------------------------------------------------
Law360 reported that private equity-owned medi-spa operator
American Laser Skincare LLC has reached a deal with creditors owed
more than $125 million in Delaware bankruptcy court that calls for
the lenders to fund the Chapter 7 liquidation process.

According to the report, in a stipulation, the lenders agreed to
put forth a total of $250,000 in two payments to fund the
administrative costs of the bankruptcy, while the debtor's trustee
acknowledged that the company owes those lenders $124.1 million
without defense, deduction or offset.  The stipulation said the
debtor's trustee recognized and accepted the "enforceable and
non-avoidable first priority" claims of the lenders in the
collateral, guaranteeing them payment from that pot.  The
stipulation also recognizes that the proceeds from the liquidation
of the estate not already claimed by those lenders would first be
used to pay off the administrative costs and expense and cash
advances made by the lenders before going to holders of unsecured
claims, the report related.

                        About ALC Holdings

Farmington Hills, Michigan-based ALC Holdings LLC dba American
Laser Centers, and American Laser Skincare, provides laser hair
removal treatments.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 11-13853) on Dec. 8, 2011.
Bankruptcy Judge Mary F. Walrath handles the case.  Landis
Rath & Cobb LLP represents the Debtors in their restructuring
efforts.  BMC Group Inc. serves as claims agent; SSG Capital
Advisors, LLC serves as financial advisors; and Traverse, LLC
serves as restructuring crisis manager.   MBC Consulting and
Melanie B. Cox serve as interim chief executive officer.  Qorval
and Eric Glassman serve as restructuring consultant.

As of Oct. 31, 2011, the Debtors disclosed total assets of
$80.4 million and total liabilities including $40.3 million owing
on a first-lien debt, $51 million in subordinated notes, and
$17.9 million is owing to trade suppliers.  American Laser Centers
of California LLC disclosed $20,988,454 in assets and $99,951,866
in liabilities as of the Chapter 11 filing.  ALC Holdings LLC
disclosed $14,662 in assets and $93,744,094 in liabilities. The
petitions were signed by Andrew Orr, chief financial officer & VP
corporate operations.

Herrick, Feinstein LLP represents the Official Committee of
Unsecured Creditors.  The Committee tapped Ashby & Geddes, P.A. as
Delaware Counsel and J.H. Cohn LLP as its financial advisor.


ARAMID ENTERTAINMENT: Jeffer Mangels Targets Deal with Relativity
-----------------------------------------------------------------
Law360 reported that Jeffer Mangels Butler & Mitchell LLP disputed
the $750,000 deal that ex-client and bankrupt film-financier Aramid
Entertainment Fund Ltd. reached with Relativity Media LLC over the
studio's alleged botching of a $44 million interest in Sony
Pictures Entertainment Inc. films, saying the law firm deserves the
money for outstanding fees.

As previously reported by The Troubled Company Reporter,
Relativity's insurers will pay $750,000 to trustees for Aramid to
settle the company's case claiming Relativity helped deep-six its
$44 million interest in the production of 45 Sony films.

According to Law360, Jeffer Mangels said it doesn't object to the
amount of the settlement -- which ended claims that Relativity
conspired with Fortress Investment Group LLC to force the loss of
Aramid's $44 million interest in a slate of 45 Sony films as well
as a five-year, $550 million partnership with Sony to finance the
movies -- provided that Relativity and its insurer pay the proceeds
to the firm for attorneys' fees incurred in the dispute.

                     About Aramid Entertainment

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

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

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

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

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


ARCTIC GLACIER: $35MM Add-on Debt No Impact on Moody's B3 CFR
-------------------------------------------------------------
Moody's Investors Service said that Arctic Glacier U.S.A., Inc.'s
proposed $35 million add-on to its $278.6 million principal first
lien term loan is a moderate credit negative, but it does not
impact the company's B3 Corporate Family Rating (CFR) or stable
rating outlook.

Arctic Glacier is a manufacturer, marketer, and distributor of
packaged ice products in the US and Canada. The company sells to
more than 75,000 customer locations including national and regional
grocery chains, convenience stores, and gasoline outlets. Arctic
Glacier's infrastructure includes 46 production facilities, 51
distribution centers, and over 50,000 stand-alone merchandising
freezer units. In 2012, Arctic Glacier Income Fund filed for
bankruptcy in both Canada and the US. Subsequent to the filing,
affiliates of H.I.G. Capital purchased the assets of Arctic Glacier
Income Fund in an LBO transaction. Preliminary unaudited revenues
for the twelve months ended December 31, 2014 (FY14) were
approximately $248 million.


ARGOS MERGER: Moody's Assigns B1 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating,
B1-PD Probability of Default Rating and a SGL-1 Speculative Grade
Liquidity to Argos Merger Sub Inc., the acquirer of PetSmart, Inc.
(collectively, "PetSmart"). Moody's also assigned a Ba3 rating to
the company's proposed $4.3 billion senior secured term loan and a
B3 rating to its proposed $1.9 billion senior unsecured notes. The
ratings outlook is stable.

On December 14, 2014, PetSmart announced that it entered into a
definitive agreement to be acquired by a consortium led by BC
Partners, Inc. for $83.00 per share in cash, with the transaction
valued at approximately $8.7 billion. The transaction is expected
to close in the first half of 2015, subject to shareholder vote, as
well as customary regulatory and closing conditions.

The transaction is expected to be funded with proceeds from the
proposed $4.3 billion term loan, $1.9 billion of senior unsecured
notes, and approximately $2.1 billion of equity, including new
contributed by the BC Partners consortium and approximately $250
million of rollover equity from an existing investor. The ratings
are subject to completion of the transaction as proposed and review
of final documentation. Upon completion of the transaction, Argos
Merger Sub Inc. will be merged with and into PetSmart, Inc., with
PetSmart, Inc. being the surviving entity and obligor under the
credit facilities.

"At around 7.25 times, PetSmart's initial pro forma lease adjusted
leverage is very high," stated Moody's analyst, Mike Zuccaro.
"However, the pet food, services and supplies industry has very
stable growth characteristics, and given PetSmart's strong and
defensible market position, Moody's expect operating performance to
remain relatively stable in the near to intermediate term. When
coupled with cost savings initiatives and the Moody's expectation
that the company will use free cash flow for debt reduction,
Moody's expect PetSmart's leverage to fall below 6.0 times within
the next 18-24 months after the close of the transaction."

The following ratings are assigned:

Corporate Family Rating at B1

Probability of Default Rating at B1-PD

Proposed $4.3 billion Senior Secured Term Loan maturing
2022 at Ba3 (LGD 3)

Proposed $1.9 billion Senior Unsecured Notes maturing 2023
at B3 (LGD 5)

Speculative Grade Liquidity Rating at SGL-1

Ratings Rationale

PetSmart's B1 Corporate Family Rating favorably reflects the
company's position as the largest specialty retailer of pet food,
supplies and services, with a highly defensible market position
given the sizeable level of exclusive products and services it
offers, well known brand, and broad national footprint. The pet
products industry in general remains relatively
recession-resilient, driven by factors such as the replenishment
nature of consumables and services and increased pet ownership,
driving the company's ability to sustainably grow revenue, expand
profitability, and generate positive free cash flow. The rating is
also further supported by the expectation for very good liquidity,
as internally generated cash is expected to be sufficient to cover
cash flow needs over the next twelve months, including sizeable
interest expense, working capital and capital spending, with excess
used for debt reduction.

The B1 rating also reflects PetSmart's high debt load stemming from
the proposed acquisition of the company, which drives its very high
pro forma leverage and weak interest coverage, as well as concerns
surrounding the private equity ownership which gives rise to event
risk surrounding shareholder-friendly financial policies.

The Ba3 rating on PetSmart's proposed $4.3 billion senior secured
term loan reflects the a first priority lien on substantially all
domestic assets of the company except cash, accounts receivable and
inventory, on which it has a second lien behind the proposed $750
million ABL revolver (not rated by Moody's). The term loan also
benefits from a first lien pledge on 65% of the stock of first-tier
foreign subsidiaries, and from a sizeable level of unsecured debt
in the capital structure. The B3 rating on PetSmart's proposed $1.9
billion senior unsecured notes reflects the junior position in the
capital structure behind the sizeable level of secured debt.

The stable outlook reflects Moody's expectation for significant
improvement in debt protection metrics over the next two years
driven by continued steady earnings growth and debt reduction.

Given the company's very high pro forma leverage and private equity
ownership, a ratings upgrade is not likely over the near term.
However, over time, sustained growth in revenue and profitability
while demonstrating conservative financial policies, including the
use of free cash flow for debt reduction, could lead to a ratings
upgrade. Quantitatively, ratings could be upgraded if the company
sustainably reduces lease adjusted debt/EBITDA to near 5.0 times
and if EBITA/interest expense is sustained above 2.0 times while
maintaining good overall liquidity.

PetSmart's ratings could be downgraded if it were to see a material
reversal of sales trends or if operating margins were to erode,
indicating that the company's industry or competitive profile was
weakening. Ratings could also be lowered if the company's financial
policies were to become more aggressive, such as maintaining high
leverage due to shareholder-friendly activities. Quantitatively, a
ratings downgrade could occur if it appears that leverage will be
sustained above 6.0 times or interest coverage less than 1.5
times.

PetSmart, Inc., with headquarters in Phoenix, Arizona, is the
largest specialty retailer of supplies, food, and services for
household pets. The company currently operates 1,387 stores in the
U.S. and Canada. Revenue for the twelve months ending November 2,
2014 exceeded $7.0 billion.

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



ATLANTIC CITY, NJ: Feds Pledge $29M to Aid Displaced Casino Workers
-------------------------------------------------------------------
Law360 reported that the U.S. Department of Labor said that it will
grant up to $29.4 million to Atlantic City, New Jersey, to support
thousands of workers who have struggled to make a living after more
than 40 businesses, including three major casinos, closed down last
year.

According to the report, the National Emergency Grant will start at
$13.1 million, with additional funding available based on
continuing need.  The assistance will go to the workers who lost
their jobs with the closure of major employers including Revel
Casino Hotel and the Trump Plaza.


BENTLEY PREMIER: Reorganization Case Administratively Closed
------------------------------------------------------------
The Bankruptcy Court granted Bentley Premier Builders, LLC's
amended application for a final decree closing its bankruptcy case.
The Court finds that there is no need for any further
administration in the case and that good cause exists for the entry
of the order.

According to the Reorganized Debtor now known as Starside Custom
Builders, LLC, the Plan was confirmed and has been substantially
consummated.  The Reorganized Debtor has paid its U.S. Trustee's
fees and has satisfied its administrative requirements.

                       About Bentley Premier

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

Bentley filed a Chapter 11 petition (Bankr. E.D. Tex. Case No.
13-41940) on Aug. 6, 2013 in Sherman, Texas.  The Debtor disclosed
$35.8 million in assets and $30.4 million in liabilities as of the
Chapter 11 filing.

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

The Debtor sought bankruptcy after Starside LLC, an entity owned
by Phillip Pourchot, acquired the note issued to Sovereign Bank
for a $7.25 million loan, and served notice of its attempt to
foreclose upon properties securing the note.

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

Judge Brenda Rhoades presides over the case.

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

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

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

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



BERNARD L. MADOFF: Prosecutors to Appeal Aides' Sentences
---------------------------------------------------------
Law360 reported that the U.S. told a federal court it will file
rare appeals of the sentences of five people found to have played
key roles in the temporary success of Bernard Madoff's $17 billion
Ponzi scheme.

According to the report, federal prosecutors told U.S. District
Judge Laura Taylor Swain that it would be filing appeals of the
sentences of aide Daniel Bonventre, account managers Annette
Bongiorno and JoAnn Crupi, and computer programmers George Perez
and Jerome O'Hara.

The Troubled Company Reporter said Ms. Crupi, who worked at Bernie
Madoff's crooked firm for 25 years until its 2008 collapse, was
sentenced to six years in prison for crimes of greed, including tax
and securities fraud, but a federal judge said she did not know
her
former boss was running a Ponzi scheme.  Crupi, 53, also was
ordered to help pay nearly $40 billion in forfeiture tied to money
that flowed into the massive con starting in 2002 -- and for taking
fraudulent real estate loans from her erstwhile accomplices.

The case is U.S. v. O'Hara et al., case number 1:10-cr-00228, in
the U.S. District Court for the Southern District of New York.

                     About Bernard L. Madoff

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

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

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

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

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

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

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


CAL DIVE: Potential Chapter 11 Filing Looms [Corrected Report URL]
------------------------------------------------------------------
Cal Dive International, Inc., has garnered examination from
investors, as the unknown future of oil has caused global oil
benchmarks to fall nearly 60$ in the past seven months.  The
Company has been struggling to maintain its relevance as management
attempts to prioritize their financial structure.  

In recent times, Cal Dive has faced being delisted on the NYSE on
Sept. 8, 2014, to declining to pay $2.2 million in interest due
Jan. 15, 2015.  This has led Cal Dive to examine a potential
Chapter 11 bankruptcy filing, hinging on the Company's ability to
scale back operations and raise capital.

A more in-depth look at the Company with an analyst brief and
recommendation can be viewed at:

  
http://smallcapir.com/wp-content/uploads/2015/02/CDVI-EC-BB-IR-Brief.pdf

with no cost or obligation.

               About Cal Dive International, Inc.

Cal Dive International, Inc., headquartered in Houston, Texas, is a
marine contractor that provides manned diving, pipelay and pipe
burial, platform installation and salvage, and light well
intervention services to the offshore oil and natural gas industry
on the Gulf of Mexico OCS, Northeastern U.S., Latin America,
Southeast Asia, China, Australia, West Africa, the Middle East, and
Europe, with a diversified fleet of dive support vessels and
construction barges.


CARIBBEAN PETROLEUM: Justices Keep Insurance Distribution Intact
----------------------------------------------------------------
Law360 reported that a Caribbean Petroleum Corp. co-defendant in
litigation over the terminal explosion that pushed the oil company
into Chapter 11 failed to obtain U.S. Supreme Court review of a
bankruptcy decision denying tort claimants priority access to $24
million in related insurance proceeds.

According to the report, the Supreme Court declined to consider
Intertek USA Inc.'s argument that tort claimants with direct action
rights to insurance coverage under Puerto Rico law should have been
elevated above other commercial creditors following Capeco's entry
into Chapter 11.

As previously reported by The Troubled Company Reporter, Capeco's
co-defendant in litigation over a fuel explosion petitioned the
Supreme Court after having failed to overturn orders in Capeco's
bankruptcy that lumped tort claimants with other general unsecured
creditors in the distribution of $24 million in related insurance
proceeds.

Interek's appeal concerns whether tort claimants with priority
payment rights under Puerto Rico law should have been placed on
equal footing with other commercial creditors following Capeco's
entry into Chapter 11.

The case is Intertek USA Inc. v. Caribbean Petroleum Corp. et al.,
Case No. 14-731, in the U.S. Supreme Court.

                    About Caribbean Petroleum

San Juan, Puerto Rico-based Caribbean Petroleum Corporation, aka
CAPECO, owns and operates certain facilities in Bayomon, Puerto
Rico, for the import, offloading, storage and distribution of
petroleum products.  Caribbean Petroleum sought Chapter 11
protection (Bankr. D. Del. Case No. 10-12553) on Aug. 12, 2010,
nearly 10 months after a massive explosion at its major Puerto
Rican fuel storage depot virtually shut down the company's
operations.  The Debtor estimated assets of US$100 million to
US$500 million and debts of US$500 million to US$1 billion as of
the Petition Date.

Affiliates Caribbean Petroleum Refining, L.P., and Gulf Petroleum
Refining (Puerto Rico) Corporation filed separate Chapter 11
petitions on Aug. 12, 2010.

John J. Rapisardi, Esq., George A. Davis, Esq., Peter Friedman,
Esq., and Zachary H. Smith, Esq., at Cadwalader, Wickersham & Taft
LLP, in New York, serve as lead counsel to the Debtors.  Mark D.
Collins, Esq., and Jason M. Madron, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware, serve as local counsel.
The Debtors' financial advisor is FTI Consulting Inc.  The
Debtors' chief restructuring officer is Kevin Lavin of FTI
Consulting Inc.  Kurtzman Carson Consultants LLC serves as the
noticing, claims and balloting agent to the Debtors.

In December 2010, the Debtor won bankruptcy court approval to sell
its business to Puma Energy International for US$82 million.  Puma
obtained Capeco's entire retail network, which consists of 157
locations, gasoline, diesel and other fuel storage facilities as
well as undeveloped land and a private deep water jetty.

The Fourth Amended Joint Plan of Liquidation for Caribbean
Petroleum and its debtor affiliates became effective on June 3,
2011.


CARMICHAEL CARE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Carmichael Care, Inc.
        6041 Fairoaks Blvd.
        Carmichael, CA 95608

Case No.: 15-10612

Nature of Business: Health Care

Chapter 11 Petition Date: February 6, 2015

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Erithe A. Smith

Debtor's Counsel: David L. Neale, Esq.
                  LEVENE, NEALE, BENDER, YOO & BRILL LLP
                  10250 Constellation Blvd Ste 1700
                  Los Angeles, CA 90067
                  Tel: 310-229-1234
                  Fax: 310-229-1244
                  Email: dln@lnbrb.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Spencer Olsen, chief financial officer,
treasurer, and director.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-10612.pdf


CASELLA WASTE: Moody's Assigns Caa1 Rating on $60MM Senior Notes
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to Casella Waste's
proposed $60 million senior subordinated notes, add-ons to the
company's existing $325 million notes due 2019 whose ratings were
affirmed. The company is in the process of replacing its $228
million credit facility (unrated) with a smaller asset-backed line
(ABL). Proceeds from the add-on subordinated note will pay-down
part of the draw on the revolver. As a result of the reduction of
size of the first lien revolver and increase in the subordinated
notes, Moody's up-graded the Senior Unsecured ratings on the Maine,
New York, New Hampshire, and Vermont Disposal Revenue bonds to B1
from B2 reflecting their higher expected recovery in a downside
scenario. The B3 Corporate Family (CFR) and B3-PD Probability of
Default (PDR) ratings were affirmed. The rating outlook is stable.

Rating Rationale

Casella's B3 CFR reflects the company's weak financial profile,
including high leverage (5.0x-5.5x adjusted debt/EBITDA expected
for the year ending December 2016), below industry-average margins
(22% EBITDA margins), and modest scale (about $525 million
revenue). The company is regionally concentrated in New England and
upstate New York and Pennsylvania, leaving the company vulnerable
to local price competition and declines in demand for the company's
solid waste collection and disposal services. Moody's expects the
heightened focus on developing relationships with waste collectors
and the more aggressive sales effort will continue driving revenue
and margin improvements through year-end December 2015 and beyond.
The company maintains a strong collection and disposal market share
in its core markets, though thin customer density coupled with
oversupply of landfill capacity weighs on margins.

The reduction in the amount of first lien debt and the
corresponding increase in subordinated debt in the capital
structure leads to an improved expected recovery for the company's
Senior Unsecured Disposal Revenue bonds in a default scenario,
leading to an upgrade of those bonds to B1 from B2.

Liquidity is adequate, as indicated by the SGL-3 Speculative Grade
Liquidity rating. The company will have around $49 million
available to draw on the ABL based on the asset value of the
pledged collateral.

The stable outlook reflects the 3% revenue growth for 2015 and 2016
Moody's expects for the solid waste industry from the combination
of low volume and price growth. Moody's expects $10-15 million of
free cash flow in each of 2015 and 2016 will be applied to debt
reduction.

A meaningful and profitable expansion of the company's operating
footprint beyond New England and New York could lead to a ratings
upgrade. Furthermore, an expectation for leverage sustained below
5.0x, high single digit percent free cash flow to debt, and an
EBITDA margin close to 25% would likely lead to a ratings upgrade.
Should the company experience lower revenues, deterioration in free
cash flow generation, or uncured covenant violations lower ratings
could develop.

Ratings:

Assigned:

Issuer: Casella Waste Systems, Inc.

  $60 million Senior Subordinated Bond due Feb 15, 2019, assigned
  Caa1/LGD5

Upgraded

Issuer: Maine Finance Authority

  Senior Unsecured Revenue Bonds Jan 1, 2025, B1/LGD2 from B2/LGD3

Issuer: Vermont Economic Development Authority

  Senior Unsecured Revenue Bonds Apr 1, 2036, B1/LGD2 from B2/LGD3

Issuer: New Hampshire (State of) Business Fin. Authority

  Senior Unsecured Solid Waste Disposal Revenue Bonds April 1,
2029:
  B1/LGD2 from B2/LGD3

Issuer: New York State Environmental Facility Corporation

  Senior Unsecured Solid Waste Disposal Revenue Bonds: B1/LGD2
from
  B2/LGD3

Ratings Affirmed:

Issuer: Casella Waste Systems, Inc.

  Corporate Family Rating, B3

  Probability of Default Rating, B3-PD

  Speculative Grade Liquidity Rating, SGL-3

  Senior Subordinated Regular Bond/Debenture Feb 15, 2019,
Caa1/LGD5

Outlook: Stable

The principal methodology used in these ratings was Environmental
Services and Waste Management Companies published in June 2014.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Casella is a Northeast United States regional collection and
disposal company focused on municipal solid and construction waste,
specialty waste primarily from energy drilling activities, as well
as collection, processing, and sales of recyclable waste. Moody's
expect revenue for the year ending December 2016 to reach about
$520-540 million.



CASELLA WASTE: S&P Raises Sr. Subordinated Notes Rating to 'B-'
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating to
'B-' from 'CCC+' on Rutland, Vermont-based solid waste services
company Casella Waste Systems Inc.'s senior subordinated notes in
anticipation of the company's proposed refinancing of its revolving
facility into a new asset-based loan (ABL) revolver and its
proposed $60 million add-on offering to the notes.  S&P revised its
recovery rating on the notes to '4' from '5', indicating S&P's
expectation of average (30% to 50%) recovery in he event of a
payment default.  The 'B-' corporate credit rating is unchanged and
the outlook is stable.

If completed, S&P expects the company to use proceeds from the
notes primarily to repay the outstanding amount under Casella's
revolving credit facility, add a modest amount of cash to the
balance sheet, and for general corporate purposes.

S&P believes the company's free cash flow will improve in 2015
because of the expiration of an unfavorable put-or-pay contract,
growth in its hauling and landfill businesses, and lower capital
expenditures.  S&P expects Casella's adjusted debt leverage to be
reduced to below 6x by the end of 2015.  Pro forma for the proposed
issue, Standard & Poor's estimates that Casella had adjusted
leverage of 6.6x as of Oct. 31, 2014.

S&P based its anchor score of 'b' on Casella on S&P's "fair"
business risk and "highly leveraged" financial risk profile
assessments for the company.  S&P applies a downward adjustment of
one notch to its initial rating outcome (anchor) of 'b' on Casella
for comparable rating analysis.  This is based on S&P's view that
debt leverage remains high relative to its peer group of other
similarly rated environmental services companies.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P has updated its recovery analysis on Casella Waste
      Systems Inc.'s debt.

   -- S&P has raised the issue-level and recovery ratings on the
      subordinated notes in anticipation of the company's proposed

      refinancing of its revolving facility and the add-on
      offering to the senior subordinated notes.

   -- The issue-level ratings and recovery ratings on the
      company's revenue bonds remain unchanged.

   -- S&P's simulated default scenario envisions a payment default

      in 2017 stemming from declining waste volume amid ongoing
      economic weakness in the U.S. Northeast markets, while
      prices for recycled products continue to be sluggish.  At
      the same time, competition intensifies, which pressures
      margins and cash flow.  Eventually, the company's liquidity
      and capital resources become strained to the point where the

      company cannot continue to operate without filing for
      bankruptcy.

   -- Other key assumptions include: an increase in LIBOR to 150
      bps; a 60% drawn $190 million asset based revolving facility

      at default; and all debt outstanding at default includes six

      months of accrued interest.

Simulated default assumptions:

   -- Year of default: 2017
   -- EBITDA at emergence: $75 million
   -- Implied enterprise value (EV) multiple: 5.5x

Simplified waterfall:

   -- Net enterprise value (EV) at emergence: $392 million
   -- Valuation split in % (obligors/nonobligors): 100%/0%
   -- Priority claims: $48 million
      --------------------------------------------
   -- Collateral value available to secured creditors: $344
      million
   -- Secured first-lien claims: $93 million
   -- Recovery expectations: 90%-100% (upper half of range)
   -- Unsecured claims: $82 million
   -- Recovery expectations: 90%-100% (upper half of range)
   -- Subordinated claims: $400 million
   -- Recovery expectations: 30%-50% (upper half of range)

RATINGS LIST

Ratings Unchanged
Casella Waste Systems Inc.
Corporate Credit Rating           B-/Stable/--
Sr secd rev bonds*                A/A-1
Sr unsecured rev bonds*           B+
   Recovery rating                 1

Ratings Raised
                                   To             From
Casella Waste Systems Inc.
$385 mil sub notes                B-             CCC+
   Recovery rating                 4              5

* Casella Waste Systems Inc. is the obligor.



CASH STORE: Enters Into Sale Agreement with National Money Mart
---------------------------------------------------------------
The Cash Store Financial Services Inc. on Oct. 9 disclosed that it
has entered into a binding agreement to sell a portion of its
business and assets to National Money Mart Company.

Money Mart submitted its proposal in accordance with Cash Store
Financial's Court-approved sale process under the Companies'
Creditors Arrangement Act.

Cash Store Financial's Chief Restructuring Officer and Rothschild
Inc., the Company's financial advisor, in consultation with the
CCAA Court-appointed Monitor, FTI Consulting Canada Inc., have
determined that the bid submitted by Money Mart was the most
favorable bid received, and was therefore selected pursuant to the
terms of the Sale Process.

The Agreement and the completion of the Transaction remain subject
to Court approval in Canada, certain regulatory approvals and the
satisfaction of certain closing conditions customary to
transactions of this nature.

The current expectation is that the transaction will be completed
by late 2014 or early 2015, following court and regulatory
approval.  Cash Store Financial will provide further updates on the
process in due course as the necessary approvals are obtained and
the Transaction is finalized.

In the interim, Cash Store will continue to operate its business as
usual.

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

                  About Cash Store Financial

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

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

Cash Store Financial reported a net loss and comprehensive loss of
C$35.5 million for the year ended Sept. 30, 2013, as compared with
a net loss and comprehensive loss of C$43.5 million for the
year ended Sept. 30, 2012.  As of Sept. 30, 2013, the Company had
C$165 million in total assets, C$166 million in liabilities, and a
C$1.32 million shareholders' deficit.


COINTERRA INC: Data Center Sues for $5.4MM Delinquency
------------------------------------------------------
Law360 reported that a data center and a bitcoin mining company are
suing one another in Utah state court after the data center denied
the miner access to its facilities for alleged underpayment,
causing the miner to go into default on some of its secured notes,
according to court documents.

The report related that Utah-based C7 Data Centers Inc alleged in
its complaint that CoinTerra Inc., which leases equipment space and
electricity to run its hardware, has been delinquent on $5,394,113
in payments throughout its contract period.

The Troubled Company Reporter, on Jan. 30, 2015, reported that
CoinTerra Inc. filed for bankruptcy facing lawsuits from customers
and a data center that stored the Texas company's bitcoin mining
equipment.


COLDWATER CREEK: Trustee Approved to Sell $6 Billion Settlement
---------------------------------------------------------------
The U.S. Bankruptcy Court authorized Peter Kravitz, the liquidating
trustee for CWC Liquidation Inc., formerly known as Coldwater Creek
Inc., et al., to sell rights to payments to which the Liquidating
Trust may be entitled pursuant to the class action interchange
litigation.

The Court also approved the sale agreement with Dunhill Asset
Services V LLC.

As reported in the Troubled Company Reporter on Jan. 7, 2015,
Law360 reported that the Liquidating Trustee asked for approval to
sell its potential slice of the massive $6 billion settlement that
resolved antitrust claims that MasterCard Inc. and Visa Inc. fixed
prices for credit card swipe fees.  The trustee said the estate
already held an auction in November and came to a purchase
agreement with Dunhill Asset Services V LLC to sell rights to the
potential claim for nearly $1.8 million.  Kravitz said it has not
yet been determined whether Coldwater Creek, which had its Chapter
11 plan confirmed three months ago, would qualify as a member of
the settlement class if or when it is certified, but the
liquidating trustee believes the former women's apparel retailer
may have claim because it used Mastercard and Visa systems to
process purchases, the report related.

                      About Coldwater Creek

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

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

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

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

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

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

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

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

The Troubled Company Reporter, on Dec. 29, 2014, reported that the
Bankruptcy Court entered a final decree closing the Chapter 11
cases of consolidated non-lead debtors in the cases of CWC
Liquidation Inc. formerly known as Coldwater Creek Inc, et al.



CONYERS 138: Files Schedules of Assets and Liabilities
------------------------------------------------------
Conyers 138, LLC, filed with the U.S. Bankruptcy Court for the
Northern District of Georgia its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $3,900,000
  B. Personal Property            $7,756,197
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $2,240,553
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $101,852
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $559,425
                                 -----------      -----------
        TOTAL                    $11,656,197       $2,901,830

A copy of the schedules is available for free at

         http://bankrupt.com/misc/Conyers138_18_SAL.pdf

                        About Conyers 138

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

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

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



COUNTRY STONE: Trinity Packaging Sells $190K Claim to Atradius
--------------------------------------------------------------
In the Chapter 11 cases of Country Stone Holdings, Inc., et al.,
one claim switched hands on Dec. 20, 2014:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Atradius Trade Credit          Trinity Packaging     $190,985.63
Insurance Inc.                 Corporation

                          About Country Stone

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

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

Country Stone disclosed $45 million in liabilities.

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

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


CRYOPORT INC: Has Insufficient Revenues for Funding Requirements
----------------------------------------------------------------
Cryoport, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $1.41 million on $975,000 of revenues for the three months ended
Dec. 31, 2014, compared with a net loss of $1.84 million on
$757,000 of revenues for the same period during the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $1.87 million
in total assets, $2.98 million in total liabilities, and a
stockholders' deficit of $1.12 million.

The Company has sustained operating losses since its  inception and
has used substantial amounts of working capital in its  operations.
At Dec. 31, 2014, the Company had an accumulated deficit of $93.9
million.  During the nine months ended Dec. 31, 2014, the Company
used cash in operations of $2.8 million and had a net loss of $5.1
million.

The Company expects to continue to incur substantial additional
operating losses from costs related to the commercialization of our
Cryoport Express Solutions and do not expect that revenues from
operations will be sufficient to satisfy its funding requirements
in the near term.  The Company believes that its cash resources at
Dec. 31, 2014, additional funds raised subsequent to Dec. 31, 2014
through the secured promissory notes, together with the revenues
generated from its services will be sufficient to sustain its
planned operations into the fourth quarter of fiscal year 2015;
however, it must obtain additional capital to fund operations
thereafter and for the achievement of sustained profitable
operations.  These factors raise substantial doubt about its
ability to continue as a going concern, according to the regulatory
filing, according to the regulatory filing.

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

                        http://is.gd/6wW2qx

                          About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

Cryoport reported a net loss of $19.56 million on $2.65 million of
revenues for the year ended March 31, 2014, as compared with a net
loss of $6.38 million on $1.10 million of revenues for the year
ended March 31, 2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.20
million in total assets, $2.57 million in total liabilities, all
current, and a $1.37 million total stockholders' deficit.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2014.  The independent
auditors noted that the Company has incurred recurring operating
losses and has had negative cash flows from operations since
inception.  Although the Company has cash and cash equivalents of
$369,581 at March 31, 2014, management has estimated that cash on
hand, which include proceeds from convertible bridge notes
received in the fourth quarter of fiscal 2014, will only be
sufficient to allow the Company to continue its operations into
the second quarter of fiscal 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors maintained.



DELIAS INC: Can Sell Assets Through Store Closing Sales
-------------------------------------------------------
U.S. Bankruptcy Judge Robert D. Drain has authorized dELiA*s Inc.
to sell certain assets through store closing sales and the
assumption of an Agency Agreement.  The Debtors are also
authorized to abandon unsold property and compliance is waived on
restrictions on store closing restrictions.

Any objections that have not been withdrawn to the to the motion
are overruled and denied.

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

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

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

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

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

                 Defy Media's Objection Overruled

The Court has denied Defy Media LLC's motion to assume the agency
agreement and sell certain assets to store closing sales.

In 2013, all of the outstanding equity interests in each of Alloy
Digital, LLC, and NextPoint Assets, LLC (d/b/a Break Media) were
contributed to a newly created limited liability company to form
Defy Media.  Defy Media holds title to certain intellectual
property including Defy Media Websites, the Licensed URLs, and the

Data collected through Defy Media Websites.  

Defy Media submits that the Debtors are precluded from selling the

Defy Media Assets and these assets cannot be sold under the
proposed Agency Agreement.  Further, even if the Debtors propose
to assume and assign the Defy Media Agreement that assignment
requires Defy Media's consent and even if the Court were to allows

the assumption and assignment of the Defy Media Agreement without
Defy Media's consent, the Defy Media Agreement must be accepted
with all of its benefits and burdens, including, without
limitation, that the Defy Media Agreement terminates on December
20, 2015—less than one year from the final hearing on the Agency

Agreement Motion—and requires a purchase price of $12,000,000 for

the dELiA*s domain name at that time.

                        About DELIA*S INC.

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

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

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

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

As of the Petition Date, the Debtors had $47.0 million in total
assets and $50.5 million in liabilities.

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



DELPHI CORP: Mich. Fights Workers' Comp Ruling at High Court
------------------------------------------------------------
Law360 reported that a recent Second Circuit decision freeing two
insurers from assuming workers' compensation liabilities from
Delphi Corp. sets a precedent that allows federal bankruptcy courts
to usurp state sovereignty in violation of the U.S. Constitution,
Michigan Attorney General Bill Schuette argued in a petition to the
U.S. Supreme Court.

According to the report, in September, the Second Circuit affirmed
New York bankruptcy and federal court rulings that found Ace
American Insurance Corp. and Pacific Employers Insurance Co. don't
have to provide coverage because each Michigan-specific section in
the insurers' contract.

                         About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is a global supplier of electronics and  

technologies for automotive, commercial vehicle and other market
segments.  Delphi operates major technical centers, manufacturing
sites and customer support facilities in 30 countries.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 05-44481) on Oct. 8, 2005.  John Wm. Butler Jr., Esq.,
John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed $9.16 billion in
assets and $23.7 billion in debt.

The Court confirmed Delphi's plan on Jan. 25, 2008.  The Plan was
not consummated after a group led by Appaloosa Management, L.P.,
backed out from their proposal to provide $2.55 billion in equity
financing to Delphi.  At the end of July 2009, Delphi obtained
confirmation of a revised plan, build upon a sale of the assets to
a entity formed by some of the lenders who provided $4 billion of
debtor-in-possession financing, and General Motors Company.

On Oct. 6, 2009, Delphi's Chapter 11 plan of reorganization became
effective.  A Master Disposition Agreement executed among Delphi
Corporation, Motors Liquidation Company, General Motors Company,
GM Components Holdings LLC, and DIP Holdco 3, LLC, divides
Delphi's
business among three separate parties -- DPH Holdings LLC, GM
Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings is
responsible for the post-Effective Date administration and
eventual
closing of the Chapter 11 cases as well as the disposition of
certain retained assets and payment of certain retained
liabilities
as provided under the Modified Plan.

Delphi Automotive PLC is UK-based company formed in May 2011 as a
holding company for US-based automotive parts manufacturer Delphi
Automotive LLP.  Delphi Automotive LLP is the successor to the
former Delphi Corporation.  At the time of its formation, Delphi
Automotive PLC filed an initial public offering seeking to raise
at
least $100 million.


DIGERATI TECHNOLOGIES: Plan of Reorganization Declared Effective
----------------------------------------------------------------
Digerati Technologies, Inc., notified the U.S. Bankruptcy Court
that the Effective Date of its Joint Plan of Reorganization
occurred on Dec. 31, 2014.

The Plan was proposed by the Debtor, Riverfront Capital, LLC, Recap
Marketing and Consulting, LLP, Rainmaker Ventures II, Ltd. and WEM
Equity Capital Investments, Ltd., Hurley Fairview, LLC, Terry
Dishon, and Sheyenne Rae Nelson Hurley.

As reported in the Troubled Company Reporter on April 14, 2014, the
Debtor on April 10 reported that it received court approval of its
Plan.  The Plan provides for the sale of the Company's two oilfield
services subsidiaries, Dishon Disposal, Inc. and Hurley
Enterprises, Inc.

Under the court-approved restructuring plan, Digerati will
eliminate approximately $63 million in debt through the sale of
Dishon and Hurley and emerge from Chapter 11 Bankruptcy as a
"leaner" reorganized company that will continue its cloud
communication business.  The restructuring plan provides for any
surplus value from the sale of Dishon and Hurley to be distributed
to the reorganized Digerati and to creditors affiliated with the
former owners of Dishon and Hurley.

Other material features of the Plan include an increase in the
authorized common stock of the Company, the addition of two
members to the Company's Board of Directors, and establishment of
a Grantor Trust and Disbursing Agent responsible for distribution
of the proceeds from the sale of Dishon and Hurley and any
retained litigation claims, as specified in the Plan.

Pursuant to the Plan, Mr. James J. Davis and Mr. William E.
McIlwain were appointed as directors of the Company.  Mr. Arthur
L. Smith will continue as a director, President and CEO and
Mr. Antonio Estrada will continue as CFO.

Mr. Davis is a seasoned financial executive with more than 40
years experience in domestic and international energy and
industrial companies.  He began his career with Gulf Oil
Corporation.  After serving in various domestic and international
treasury positions, Mr. Davis moved on to MAPCO Inc. and then to
Parker Drilling Company where he served as SVP of Finance and CFO
until 2002.  After a short term with a private equity investment
firm, he became CFO of CapRock Communications. In 2009, he joined
Express Energy Services as CFO.  Mr. Davis retired from Express in
2013 and is now a private investor and director of a not-for-
profit organization.  Mr. Davis holds a BS degree in Mechanical
Engineering from the University of Colorado and a MS degree in
Industrial Administration from Purdue University.  Mr. Davis holds
a CPA certificate in the State of Oklahoma.

Mr. McIlwain is co-founder of Gary Greene Realtors which he, along
with his partner, built to become the largest and most productive
real estate company in Houston, Texas and the 50th largest in the
United States.  In 2000, Prudential Real Estate Services provided
a leveraged buyout and the company was sold to become Prudential
Gary Greene Realtors.  Mr. McIlwain remained a partner until
October 31, 2004 when he sold his interest and retired from the
real estate business.  Since that time, he has been involved in
commercial real estate site location and sales and more recently
in industrial pipe sales throughout the southern United States.
His professional career included director of the Houston
Association of Realtors (HAR); chairman of the HAR professional
standards committee; chairman of the HAR economic development
committee; HAR MLS committee; HAR secretary-treasurer; director of
the Texas Association of Realtors; five terms on the advisory
board of the Better Homes and Gardens Real Estate Service; one
term on the national advisory council for Prudential Real Estate
Affiliates; member of the Prudential Relocation Advisory Council;
director of the Greater Houston Builders Association; member of
the USAA Real Estate Advisory Board; director of the National
Association of Realtors; and past Platinum Broker Member of the
Cendant Mobility Broker Network.

Mr. Arthur L. Smith, CEO, stated, "The Company has emerged with a
clean capital structure and healthier balance sheet while adding
seasoned experience to its board of directors.  In addition to
revitalizing our core cloud communication business, we intend to
regain compliance with our SEC reporting while working diligently
towards increasing shareholder value."

Dishon Disposal, Inc. and Hurley Enterprises, Inc. are both
located in the Bakken region of North Dakota and Montana, one of
the most important oil fields in the world today.  Dishon Disposal
Inc. is a waste disposal facility with a 25 year track record,
focusing on solid and liquid wastes from oil field and drilling
processes.  Hurley Enterprises, Inc. is an oil field support
services company that functions as a drilling site service
company, providing skid houses, telecommunication services,
booster booths, Porta-Potties, generators, potable water, and mess
halls in service to many of the major drilling contractors and oil
companies in the Bakken region.

                  About Digerati Technologies

Digerati Technologies, Inc., filed a Chapter 11 petition (Bankr.
S.D. Tex. Case No. 13-33264) in Houston, on May 30, 2013.  At the
time of its Chapter 11 filing, Digerati --
http://www.digerati-inc.com/-- was a publicly held company whose
primary assets were 100% stock ownership of two oilfield services
companies that the Debtor valued at $30 million each: Hurley
Enterprises, Inc.; and Dishon Disposal, Inc.  The Debtor also owned
Shift 8 Networks, a cloud communication service.  The Debtor has no
independent operations apart from its subsidiaries.

Digerati disclosed $60 million in assets and $62.5 million in
liabilities as of May 29, 2013.

Bankruptcy Judge Jeff Bohm oversees the Chapter 11 case.  Deirdre
Carey Brown, Esq., Annie E. Catmull, Esq., Melissa Anne Haselden,
Esq., Mazelle Sara Krasoff, Esq., and Edward L Rothberg, at Hoover
Slovacek, LLP, in Houston, represent the Debtor as counsel.  The
Debtor tapped Gilbert A. Herrera and Herrera Partners as the
investment banker.

Earlier in the case, Rhode Holdings, LLC, sought the transfer of
venue of Digerati's Chapter 11 case to the U.S. Bankruptcy Court
for the Western District of Texas, San Antonio Division.  The
case, however, remained in the Houston Bankruptcy Court.

                           *     *     *

Hurley Enterprises and Dishon Disposal sold for approximately $41
million.  Dishon was sold to Buckhorn Disposal, LLC at auction on
June 19, 2014 for $27 million.  The only other bidder was Terry
Dishon with a credit bid of $12.3 million.  The Hurleys submitted
the winning bid for Hurley at auction, with a credit bid of $14
million.



DREIER LLP: Diamond McCarthy Ex-Partner Can't Escape Texas Court
----------------------------------------------------------------
Law360 reported that a Texas district judge rejected a former
Diamond McCarthy LLP partner's bid to dodge Texas jurisdiction in a
$1.4 million breach of contract suit over fees she generated as
Dreier LLP's Chapter 11 trustee.

According to the report, in a brief order, Harris County District
Judge Sylvia A. Matthews denied a special appearance filed by
ex-Diamond McCarthy partner Sheila M. Gowan, who had argued she
couldn't be forced to litigate the claim in Texas court.

As previously reported by The Troubled Company Reporter, Diamond
McCarthy asked the Texas state judge to deny Ms. Gowan's special
appearance in its $1.4 million breach of contract suit over fees
she generated as Dreier's Chapter 11 trustee, arguing her five
years with the Texas-based firm satisfy the state's long-arm
statute despite her working in New York.  Ms. Gowan, a former
partner at Diamond McCarthy who left the firm in the midst of the
bankruptcy proceedings, argued in testimony that Texas' long-arm
statute should not apply to her because the New York lawyer had few
connections to the state of Texas.

         About Marc Dreier and Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP –
http://www.dreierllp.com/— in 1996. On Dec. 8, 2008, the U.S.
Securities and Exchange Commission filed a suit, alleging that Mr.
Dreier made fraudulent offers and sales of securities in several
cities, selling fake promissory notes to hedge and other private
investment funds. The SEC asserted that Mr. Dreier also
distributed phony financial statements and audit opinions, and
recruited accomplices in connection with that scheme. Mr. Dreier,
currently in prison, was charged by the U.S. government for
conspiracy, securities fraud and wire fraud (S.D.N.Y. Case No.
09-cr-00085).

Dreier LLP sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008. Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.

Sheila M. Gowan, a partner with Diamond McCarthy, was appointed
Chapter 11 trustee for the Dreier law firm. Ms. Gowan is
represented by Diamond McCarthy LLP. Dickstein Shapiro LLP is the
trustee’s special trial counsel.

Wachovia Bank National Association; the Dreier LLP Chapter 11
Trustee; and Steven J. Reisman as post-confirmation representative
of the bankruptcy estate of 360networks (USA) Inc. signed a
petition that put Mr. Dreier into bankruptcy under Chapter 7 on
Jan. 26, 2009 (Bankr. S.D.N.Y. Case No. 09-10371). Mr. Dreier
pleaded guilty to fraud and other charges in May 2009. The
scheme to sell $700 million in fake notes unraveled in late 2008.
Mr. Dreier is serving a 20-year sentence in a federal prison in
Minneapolis.

The May 15, 2014, edition of The TCR said the Hon. Stuart M.
Bernstein of the U.S. Bankruptcy Court for the Southern District
of New York confirmed the second amended Chapter 11 plan of
liquidation filed by Sheila M. Gowan, the Chapter 11 trustee for
Dreier LLP, and the Official Committee of Unsecured Creditors.


DREIER LLP: Firm Says Texas' Long Arm Reaches Ex-Partner
--------------------------------------------------------
Law360 reported that Diamond McCarthy LLP asked a Texas state judge
to deny an ex-partner's special appearance in its
$1.4 million breach of contract suit over fees she generated as
Dreier LLP's Chapter 11 trustee, arguing her five years with the
Texas-based firm satisfy the state's long-arm statute despite her
working in New York.

According to the report, after a motion for protection citing
attorney-client privilege was partly rejected in October, former
partner Sheila M. Gowan filed a special appearance motion in Harris
County's 281st District Court.

Law360 said Diamond McCarthy lawyers refuted Ms. Gowan's special
appearance in a Texas court, as she fought Texas jurisdiction in a
$1.4-million breach of contract suit over fees she generated as
Dreier LLP's Chapter 11 trustee.  Ms. Gowan, a former partner at
Diamond McCarthy who left the firm in the midst of the bankruptcy
proceedings, argued in testimony that Texas' long-arm statute
should not apply to her because the New York lawyer had few
connections to the state of Texas.

              About Marc Dreier and Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.  On Dec. 8, 2008, the U.S.  
Securities and Exchange Commission filed a suit, alleging that Mr.
Dreier made fraudulent offers and sales of securities in several
cities, selling fake promissory notes to hedge and other private
investment funds.  The SEC asserted that Mr. Dreier also
distributed phony financial statements and audit opinions, and
recruited accomplices in connection with that scheme.  Mr. Dreier,
currently in prison, was charged by the U.S. government for
conspiracy, securities fraud and wire fraud (S.D.N.Y. Case No.
09-cr-00085).

Dreier LLP sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.

Sheila M. Gowan, a partner with Diamond McCarthy, was appointed
Chapter 11 trustee for the Dreier law firm.  Ms. Gowan is
represented by Diamond McCarthy LLP.  Dickstein Shapiro LLP is the
trustee's special trial counsel.

Wachovia Bank National Association; the Dreier LLP Chapter 11
Trustee; and Steven J. Reisman as post-confirmation representative
of the bankruptcy estate of 360networks (USA) Inc. signed a
petition that put Mr. Dreier into bankruptcy under Chapter 7 on
Jan. 26, 2009 (Bankr. S.D.N.Y. Case No. 09-10371).  Mr. Dreier
pleaded guilty to fraud and other charges in May 2009.  The
scheme to sell $700 million in fake notes unraveled in late 2008.
Mr. Dreier is serving a 20-year sentence in a federal prison in
Minneapolis.

The May 15, 2014, edition of The TCR said the Hon. Stuart M.
Bernstein of the U.S. Bankruptcy Court for the Southern District
of New York confirmed the second amended Chapter 11 plan of
liquidation filed by Sheila M. Gowan, the Chapter 11 trustee for
Dreier LLP, and the Official Committee of Unsecured Creditors.



EAST LIVERPOOL HOSP: Moody's Lowers $7.6MM Bonds Rating to B2
-------------------------------------------------------------
Moody's Investors Service downgrades East Liverpool City Hospital's
(ELCH) bond rating to B2 from Ba3 affecting $7.6 million of
outstanding bonds issued by the City of East Liverpool, Ohio. The
rating outlook is negative.

Summary Rating Rationale

The multi-notch downgrade to B2 reflects increased acceleration
risk of bank-supported debt and liquidity constraints given a
covenant default, material 22% cash decline over the last year, and
severe operating losses and negative cashflow including large
transfers to support employed physicians. The hospital's viability
is also threatened by its small size in a demographically
challenged market and competitors in the broader region.

A further downgrade is avoided at this time based on the hospital's
current cash position which still exceeds total debt and Moody's
expectation that meaningful cost reduction initiatives implemented
in 2014 will stem operating losses and moderate the pace of cash
decline.

Outlook

The negative outlook reflects risks related to debt acceleration as
a result of a likely quarterly covenant breach, further liquidity
declines if the hospital is unable to achieve significant
improvement in fiscal year 2015, potential delays in completing a
merger with a stronger partner, and the hospital's long-term
viability as a standalone provider.

What Could Make The Rating Go Up

-- Unlikely in the near term given severe operating losses,
decline
    in liquidity and acceleration risk

-- Material and sustained improvement in operating margins

-- Elimination or significant reduction of acceleration risk

-- Merger with stronger partner and guarantee or assumption of
debt

What Could Make The Rating Go Down

-- Acceleration of debt

-- Continued failure to meet the covenant requirements

-- Inability to improve margins or further declines in liquidity

-- Inability to complete merger with Mercy Health or another
partner
    or completion of merger with no legal assumption of debt by
partner

Obligor Profile

East Liverpool City Hospital is a small basic acute care community
hospital in East Liverpool, OH. The hospital is one of three
subsidiaries of River Valley Health Partners, Inc. (RVHP). RVHP
operates as a parent holding company for the hospital, Ohio Valley
Home Health Services, Inc. (OVHHS), and River Valley Professionals,
LLC (RVP).

Legal Security

Bonds are secured by a gross revenue pledge from the hospital and
debt service reserve fund, as defined in the bond documents.

Use of Proceeds

Not applicable

Rating Methodology

The principal methodology used in this rating was Not-for-Profit
Healthcare Rating Methodology published in March 2012.



EDUCATION MANAGEMENT: Attys Doubt Need for 2nd Trial in Row
-----------------------------------------------------------
Law360 reported that a hedge fund suing to protect a $14 million
investment in Education Management Corp. will likely not need a
second trial to make its case that its debts can't be cut in a $1.5
billion restructuring that the cash-strapped education company
expects to execute by mid-2015, its attorney said.

According to the report, EDMC has already gone through one trial
with Marblegate Asset Management LLC, the lone creditor lined up
against the for-profit college operator's plan to cut its debts
without entering Chapter 11.  U.S. District Judge Katherine Failla
held in December that EDMC's plan to turn Marblegate's bond debt
into stock on the vote of the rest of its creditors would likely
breach the hedge fund's right to full repayment, the report noted.

The case is Marblegate Asset Management LLC et al v. Education
Management Corp. et al, case number 1:14-cv-08584, in the U.S.
District Court for the Southern District of New York.

                   About Education Management

Education Management LLC, an indirect subsidiary of Education
Management Corporation based in Pittsburgh, Pennsylvania, is one
of
the largest providers of private post-secondary education in
North America.  The company's education systems (The Art
Institutes, Argosy University, Brown Mackie Colleges and South
University) offer associate through doctorate degrees with
approximately 120,000 students.  The company reported revenues of
approximately $2.4 billion for the twelve months ended March 31,
2014.

                           *    *     *

As reported by the TCR on Nov. 19, 2014, Standard & Poor's Ratings
Services said that it lowered its corporate credit rating on
Pittsburgh-based for-profit post-secondary school operator
Education Management LLC (EDMC) to 'D' from 'CC'.  The rating
actions follow the amendment to the company's credit facilities
that waived all financial covenants and substituted the originally
agreed upon cash interest and principal payments for a
payment-in-kind (PIK structure).

Moody's Investors Service has lowered the ratings of for-profit
post-secondary education company Education Management LLC,
including the Corporate Family Rating ("CFR") to Caa3 from Caa1,
and changed the outlook to negative from stable, the TCR reported
on May 6, 2014.  The ratings were downgraded in consideration of a
financial restructuring program that the company intends to
undertake, which Moody's believes could entail a distressed
exchange for debt.


EMERALD INVESTMENTS: Files Schedules of Assets and Liabilities
--------------------------------------------------------------
Emerald Investments, LLC, filed with the U.S. Bankruptcy Court for
the Southern District of New York its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property              Unknown
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $1,183,682
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $2,797,480
                                 -----------      -----------
        TOTAL                        Unknown       $3,981,162

A copy of the schedules is available for free at

     http://bankrupt.com/misc/EmeraldInvestments_10_SAL.pdf

                     About Emerald Investments

Emerald Investments, LLC, sought Chapter 11 protection (Bankr.
S.D.N.Y. Case No. 14-13407) in Manhattan on Dec. 15, 2014.

The case is assigned to Judge Martin Glenn.

Norwalk, Connecticut-based Emerald Investments estimated $10
million to $50 million in assets and less than $10 million in
debt.
The formal schedules of assets and liabilities, as well as the
statement of financial affairs, are due Dec. 29, 2014.

The Debtor has tapped David Y. Wolnerman, Esq., at White &
Wolnerman, PLLC, in New York, as counsel.


ENERGY FUTURE: Claims Fidelity Broke Deal to Sell EFH Notes Tossed
------------------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge threw out claims
from several investment managers, including Avenue Capital
Management II LP and GSO Capital Partners LP, that Fidelity
Investment was bound by contract to sell more than $400 million of
notes in Energy Future Holdings Corp., siding with Fidelity's
reading of the agreement.

According to the report, after a hearing in Wilmington, U.S.
Bankruptcy Judge Christopher S. Sontchi granted Fidelity's request
to dismiss an adversary action lodged by Avenue Capital and four
other firms in October alleging that the financial services company
gave them call rights to purchase the notes in connection with the
restructuring support agreement EFH brought with it into Chapter
11, and that those rights must be honored even though the energy
giant later scrapped the RSA.

The adversary case is is Avenue Capital Management II LP et al. v.
Fidelity Investments et al., case number 1:14-ap-50797, in the U.S.
Bankruptcy Court for the District of Delaware.

                     About Energy Future

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

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

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

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

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

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

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

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

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


ERNESTO GYUREC: Appeals Court Affirms Dismissal of Suit vs. BONY
----------------------------------------------------------------
The Court of Appeals of California, Fourth District, Division
Three, affirmed the dismissal of the adversary proceeding captioned
Ernesto Daniel Gyurec, Plaintiff and Appellant, v. The Bank of New
York Trust Co., N.A., as Trustee, etc., Defendant and Respondent,
Case No. G050083.

The Appeals Court also ruled that the Respondent will recover costs
incurred on appeal.

Mr. Gyurec sued BONY to quiet title to a real property located at
18520 State Street, in Corona, California.  He alleged a deed of
trust held and foreclosed on by BONY was invalid due to two
mistakes in the legal description of the property.  The trial court
sustained without leave to amend BONY's demurrer to the quiet title
action and dismissed the complaint.

The Appeals Court concluded that the deed of trust was valid,
notwithstanding mistakes in the legal description of the secured
real property, because it correctly identified the secured real
property by street address.  The Appeals Court also concluded that
if, as Mr. Gyurec contends, an unlawful detainer court adjudicated
title in his favor in an action for possession, then that court
exceeded its jurisdiction.

In addition, as an independent ground for affirmance, the Appeals
Court opined that Mr. Gyurec's cause of action to quiet title is
barred under principles of res judicata because, in his Chapter 11
bankruptcy proceeding, the Bankruptcy Court dismissed with
prejudice his adversary complaint in which he could have argued the
mistakes in the property's legal description rendered the deed of
trust invalid.  Finally, Appeals Court said that he has not shown
he could amend his complaint.

A full-text copy of the Opinion dated December 10, 2014, is
available at http://bit.ly/1C6Ijyyfrom Leagle.com.

The Plaintiff and Appellant is represented by:

          Stephen F. Lopez, Esq.
          STEPHEN F. LOPEZ APC
          600 B St., Suite 2230
          San Diego, CA 92101
          Telephone: (858) 682-9666
          Facsimile: (760) 571-5313
          E-mail: steve@sflopesq.com

The Defendant and Respondent is represented by:

          Mary Jean Pedneau, Esq.
          William R. Larr, Esq.
          Susan S. Vignale, Esq.
          LAW OFFICES OF MARY JEAN PEDNEAU
          2280 Wardlow Cir., Suite 280
          Corona, CA 92880
          Telephone: (951) 736-1225
          Facsimile: (951) 736-1227
          E-mail: williamrlarr@aol.com
                  svignale@firstam.com

Ernesto Daniel Gyurec filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Calif. Case No. 09-14497) March 11, 2009.



EXIDE TECHNOLOGIES: Panel Wants to Expand Lead Price-Fixing Probe
-----------------------------------------------------------------
Law360 reported that Exide Technologies Inc.'s creditors committee
pushed back against opposition from Goldman Sachs Group Inc.,
JPMorgan Chase & Co. and others to its bid to expand its
investigation into whether possible lead price-fixing affected the
debtor, claiming the objectors don't want to produce information
that has the potential to support those suspicions.

According to the report, in a motion before the Delaware bankruptcy
court, the committee laid out a point-by-point rebuttal of an
objection lodged by several firms -- including Glencore PLC,
Goldman, JPMorgan and various affiliates -- to the committee’s
request for additional documents as part of its lead price-fixing
probe under Bankruptcy Rule 2004.

The firms, referred to in court documents as the respondents, argue
that the committee has spent more than $2 million in attorneys' and
consultant fees since the court allowed the investigation nearly a
year ago, has thus far turned up nothing, and is now asking for
dozens of "overbroad and burdensome" document requests, the report
related.

Law360 further related that U.S. Judge Kevin J. Carey said he'd be
open to ordering Goldman Sachs and JPMorgan to produce documents in
the committee's investigation over possible lead price-fixing,
which could yield the debtor valuable antitrust claims, but any
order he'd sign would be narrow in scope.  Judge Carey said he
would be willing to grant in part the committee's request for
document production from several firms, including Goldman and
JPMorgan, under Bankruptcy Rule 2004, but added that he was not
going to write the committee a blank check for their investigatory
efforts, the report added.

                     About Exide Technologies

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

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.

Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones
LLP represented the Debtors in their successful restructuring.

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

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

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

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

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

                            *     *     *

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

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

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

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


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

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware on Feb. 7, 2015, approved the disclosure statement
explaining Exide Technologies' reorganization plan and scheduled
the confirmation hearing to be held on March 27, 2015, at 10:00
a.m. (prevailing Eastern time).


EXIDE TECHNOLOGIES: Posts $63.3 Million Net Loss for FY Q3
----------------------------------------------------------
Exide Technologies filed with the Securities and Exchange
Commission its Form 10-Q report for the quarterly period ended
December 31, 2014.

Exide said net sales were $692,568,000 for the three months ended
December 31, 2014, compared to $759,666,000 for the same period in
2013.  Net sales were $1,999,128,000 for the nine months ended
December 31, 2014, compared to $2,139,710,000 for the same period
in 2013.

Net loss, Exide said, were $63,280,000 for the three months ended
December 31, 2014, compared to $34,477,000 for the same period in
2013.  Net loss were $230,983,000 for the nine months ended
December 31, 2014, compared to $165,663,000 for the same period in
2013.

A copy of the earnings report is available at
http://1.usa.gov/1yYQqMS

                    About Exide Technologies

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

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

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

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

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

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

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

                            *     *     *

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

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

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

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

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


FANNIE MAE: Feds Can't Stop Pershing from Dropping Suit
-------------------------------------------------------
Law360 reported that a Washington, D.C., federal judge nixed the
U.S. Department of the Treasury's strategic bid to revive a
stockholder lawsuit brought -- and later abandoned -- by Bill
Ackman's Pershing Square Capital Management LP over billions of
dollars allegedly misappropriated in the government's takeover of
Fannie Mae and Freddie Mac.

According to the report, the government had sought to strike
Pershing's voluntary dismissal of the case so that Judge Royce C.
Lamberth's ruling in similar litigation, a month before Pershing
dropped its case, would dispose of Pershing's claims too.  Judge
Lambert, however, said that Pershing's suit was not automatically
consolidated with the thrown-out litigation and allowed the
dismissal to stand, the report related.

The case is Rafter et al. v. Department of the Treasury et al.,
case number 1:14-cv-01404, in the U.S. District Court for the
District of Columbia.

                          About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9 percent of its
common stock, and Treasury has made a commitment under a senior
preferred stock purchase agreement to provide Fannie with funds
under specified conditions to maintain a positive net worth.

Fannie Mae reported net income of $84.0 billion on $117.54
billion of total interest income for the year ended Dec. 31, 2013,
as compared with net income of $17.2 billion on $129 billion
of total interest income for the year ended Dec. 31, 2012.

As of March 31, 2014, the Company had $3.22 trillion in total
assets, $3.21 trillion in total liabilities and $8.09 billion in
total equity.

                          Conservatorship

Fannie Mae has operated under the conservatorship of the Federal
Housing Finance Agency ("FHFA") since Sept. 6, 2008.  Fannie Mae
has not received funds from Treasury since the first quarter of
2012.  The funding the company has received under its senior
preferred stock purchase agreement with Treasury has provided the
company with the capital and liquidity needed to fulfill its
mission of providing liquidity and support to the nation's housing
finance markets and to avoid a trigger of mandatory receivership
under the Federal Housing Finance Regulatory Reform Act of 2008.
For periods through March 31, 2014, Fannie Mae has requested
cumulative draws totaling $116.1 billion and paid $121.1 billion
in dividends to Treasury.  Under the senior preferred stock
purchase agreement, the payment of dividends cannot be used to
offset prior draws.  As a result, Treasury maintains a liquidation
preference of $117.1 billion on the Company's senior preferred
stock.

                        About Freddie Mac

Based in McLean, Virginia, the Federal Home Loan Mortgage
Corporation, known as Freddie Mac (OTCBB: FMCC) --
http://www.FreddieMac.com/-- was established by Congress in   
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and the Federal Housing Finance
Agency acting as conservator to continue operating its
business.


FCC HOLDINGS: Hires Kurtzman Carson as Administrative Agent
-----------------------------------------------------------
FCC Holdings, Inc. and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ Kurtzman Carson Consultants LLC as administrative agent,
nunc pro tunc to Jan. 8, 2015.

The Debtors require Kurtzman Carson to:

   (a) tabulate votes and perform subscription services as may be
       requested or required in connection with any and all plans
       filed by the Debtors and provide ballot reports and related

       balloting and tabulation services to the Debtors and their
       professionals;
   (b) generate an official ballot certification and testify, if
       necessary, in support of the ballot tabulation results; and

   (c) perform such other administrative services as may be
       requested by the Debtors that are not otherwise allowed
       under the order approving the Section 156(c) Application.

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

Kurtzman Carson will receive a retainer in the amount of $30,000
that may be held by Kurtzman Carson as security for the Debtors'
payment obligation under the agreement.

Evan Gershbein, senior vice president of corporate restructuring
services for Kurtzman Carson, assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
application on March 18, 2015, at 10:00 a.m. Objections, if any,
are due Feb. 12, 2015, at 4:00 p.m.

Kurtzman Carson can be reached at:

       Drake D. Foster
       KURTZMAN CARSON CONSULTANTS LLC
       2335 Alaska Ave.
       El Segundo, CA 90245
       Tel: (310) 823-9000
       Fax: (310) 823-9133
       E-mail: dfoster@kccllc.com

                         About FCC Holdings

FCC Holdings, Inc., and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 14-11987) on Aug. 25,
2014.

Headquartered in Ft. Lauderdale, Florida, FCC and its affiliates
provide quality postsecondary education in fourteen states.  The
FCC schools were started by David Knobel in 1994 in Fort
Lauderdale, Florida, and, as of the bankruptcy filing, are owned
by Greenhill Capital Partners.

Prior to the Petition Date, the Company, which currently operates
under the name "Anthem Education," had three sets of schools --
the 14 Florida Career College schools; the 22 Anthem Education
schools; and the 5 US Colleges schools.

The Debtors' outstanding secured obligations are $49 million, plus
interest and fees, comprised of: Tranche A Loans of $18.6 million,
Tranche B Loans of $29.1 million, and existing letters of credit
of $1.39 million.  The Debtors also have unsecured debt of
$15 million.

Judge Christopher S. Sontchi is assigned to the Chapter 11 cases.

The Debtors have tapped Dennis A. Meloro, Esq., at Greenberg
Traurig, LLP, as counsel, and KCC as claims and notice agent.

The U.S. Trustee has appointed three members to the Official
Committee of Unsecured Creditors.  Womble Carlyle Sandridge &
Rice, LLP, and Ottenbourgh P.C., serve as its co-counsel.


FIRST PLACE: Squire Patton Boggs Settles Bankruptcy Fee Suit
------------------------------------------------------------
Law360 reported that Squire Patton Boggs LLP agreed to cough up
$150,000 for creditors of defunct former client First Place
Financial Corp. as a settlement of claims that the firm fudged its
receipt of fees from First Place before the bank went under.

According to the report, if approved by U.S. Bankruptcy Judge
Brendan L. Shannon, the deal will let Squire Patton Boggs walk away
from a $1.9 million lawsuit regarding the truthfulness of its
application to represent First Place following the bank's 2012
entry into Chapter 11.

As previously reported by The Troubled Company Reporter, George L.
Miller, the trustee for First Place, sued Squire Patton Boggs for
failing to disclose all of the $573,000 in compensation the law
firm received in the year preceding the bank holding company's
bankruptcy.

The trustee asked the bankruptcy judge to direct the firm to return
the $573,000 as a so-called preference.  The trustee also said the
judge should compel the firm to pay back the $1 million in fees on
account of faulty disclosure.

                        About First Place

First Place Financial Corp. is a $3.1 billion financial services
holding company, based in Warren, Ohio.  The First Place bank
subsidiary isn't in bankruptcy.

First Place filed a Chapter 11 petition (Bankr. D. Del. Case No.
12-12961) in Delaware on Oct. 28, 2012, to sell its bank unit to
Talmer Bancorp, Inc., absent higher and better offers.

The Debtor declared $175 million in total assets and $65.6 million
in total liabilities as of Oct. 26, 2012.

The Debtor has tapped Patton Boggs LLP and The Bayard Firm, PA as
legal counsel, and FTI Consulting, Inc., as financial advisor.
Donlin, Recano & Company, Inc. -- http://www.donlinrecano.com/--  
is the claims and notice agent.

The Official Committee of Trust Preferred Securities tapped to
retain Kirkland & Ellis as counsel; Klehr Harrison Harvey
Branzburg as co-counsel; Holdco Advisors as financial advisor; and
Rothschild as investment banker and financial advisor.

The Troubled Company Reporter, on March 27, 2013, reported that
the U.S. Bankruptcy Court approved First Place Financial's motion
to convert its Chapter 11 reorganization case to a liquidation
under Chapter 7.


FUNDAMENTAL LONG TERM CARE: Firm Says Deadline Extension Invalid
----------------------------------------------------------------
Law360 reported that Troutman Sanders LLP has told a Florida
federal court that it should overturn an order extending the
statute of limitations period to bring claims in the underlying
bankruptcy of a health care asset holding company, arguing that the
trustee is mischaracterizing the firm's appeal and failing to
address the merits.

According to the report, attorneys representing the law firm
Troutman Sanders argued that an order by the judge in the Chapter 7
bankruptcy of Fundamental Long Term Care Inc., which was set up by
the firm and partly run by its former attorney Leonard Grunstein,
improperly extended an expired statute of limitations period to
commence additional causes of action against the debtor after an
initial extension had expired.

The case is Troutman Sanders LLP v. Scharrer, case number
8:14-cv-02223, in the U.S. District Court for the Middle District
of Florida.


GARLOCK SEALING: $358MM Deal May Shrink Future Fibro Trust Payouts
------------------------------------------------------------------
Law360 reported that Garlock Sealing Technologies LLC's planned
$358 million agreement to resolve asbestos injury claims is a far
cry from the $1.2 billion originally sought by claimants in the
landmark bankruptcy case, potentially paving the way for future
bankrupt defendants to win dramatically lower asbestos trust
valuations.

As previously reported by The Troubled Company Reporter, EnPro
Industries, Inc., and Garlock have reached agreement with the
court-appointed legal representative of future asbestos claimants
(the FCR) in GST's
Asbestos Claims Resolution Process (ACRP).  The agreement includes
a revised plan of reorganization that, if approved by the
Bankruptcy Court and implemented, will provide certainty and
finality to the expenditures necessary to resolve all current and
future asbestos claims against GST and against its Garrison
Litigation and Anchor Packing subsidiaries.

A total of $357.5 million will be required to fund the resolution
of all asbestos claims under the revised plan.  The total includes
$250 million to be contributed at the effective date of the plan
and $77.5 million to be contributed over the following seven
years.
These funds will be available to pay asbestos claimants who meet
qualifying disease and exposure criteria and elect to accept the
offered settlements, and to pay for related administrative fees.
The revised plan provides an initial $30 million at the effective
date to cover the litigation costs that will arise if claimants
elect to forego their settlement options in favor of litigating in
federal court.  The plan also calls for a contingent guarantee
that
could provide additional litigation funding if necessary over a
40-year period.  However, EnPro believes that if the plan works as
envisioned and claimants act in their economic best interests, the
guarantee (which has a current after-tax, net present value of $31
million), will prove to be largely unnecessary.

                     About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than
a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for
asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the
Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his
co-counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against Garlock Sealing at $125 million, consistent with
the
positions GST put forth at trial.


GARLOCK SEALING: Claims of Dirty Tactics to Renew Transparency Push
-------------------------------------------------------------------
Law360 reported that Garlock Sealing Technologies LLC's adversary
suits unsealed in January target prominent asbestos plaintiffs
attorneys with detailed allegations about their misconduct --
including that they persuaded mesothelioma victims to lie about
their asbestos exposure -- a development attorneys say will fuel
the defense bar's push for transparency that has lagged since last
year's landmark ruling in the gasket maker's bankruptcy case.

According to the report, in four complaints unsealed Jan. 20,
Garlock targeted Belluck & Fox LLP, Shein Law Center Ltd., Waters &
Kraus LLP and Simon Greenstone Panatier Bartlett PC, describing
insidious schemes in which attorneys allegedly persuaded their
clients to downplay or completely hide their exposure to products
made by bankrupt defendants, to maximize recoveries in tort
litigation with solvent defendants.

                     About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than
a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for
asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the
Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his
co-counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against Garlock Sealing at $125 million, consistent with
the
positions GST put forth at trial.


GENERAL MOTORS: Bridgestone to Fork Over Part of $85M CERCLA Tab
----------------------------------------------------------------
Law360 reported that Bridgestone Americas Inc. asked an Ohio
federal court to approve a settlement in a Comprehensive
Environmental Response, Compensation and Liability Act suit seeking
to recoup part of $85 million in cleanup costs stemming from its
alleged contamination of a landfill after General Motors LLC's
bankruptcy predecessor backed out of a deal to cover the tire
maker's costs.

According to the report, the settlement would bring an end to the
long-running CERCLA suit by a group of seven companies, including
Northrop Grumman Systems Corp. and Cargill Inc.

The case is Cargill, Inc., et al v. ABCO Construction, et al., Case
No. 3:98-cv-03601 (S.D. Ohio.), before Judge Michael R. Merz.

                       About General Motors

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

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

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

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

                        *     *     *

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

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

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


GENERAL MOTORS: Group Fighting for Pre-Bailout Treasury Email
-------------------------------------------------------------
Law360 reported that private watchdog group the Center for Auto
Safety doubled down on its quest for email exchanges between the
U.S. Treasury and automakers including General Motors Co. involving
their 2009 bailout negotiations, arguing that a recent filing in
the GM bankruptcy case shows the Treasury wanted automakers to
jettison consumer liabilities.  According to the report, in a
summary judgment motion filed in federal court in D.C. in a suit
brought under the Freedom of Information Act, the CAS renewed its
quest for the documents.

The case is CENTER FOR AUTO SAFETY v. U.S. DEPARTMENT OF TREASURY,
Case No. 1:11-cv-01048 (D.D.C.), before Judge Beryl A. Howell.

                       About General Motors

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

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

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

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

                        *     *     *

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

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

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


GGW BRANDS: Trustee Seeks to Recover $330,000 from IRS
------------------------------------------------------
Law360 reported that the bankruptcy trustee for the company behind
the "Girls Gone Wild" adult video series wants to recover about
$330,000 from the Internal Revenue Service and the California
Franchise Tax Board, arguing that the money was used to pay the
personal tax bill of founder Joe Francis.

According to the report, GGW Marketing LLC Trustee R. Todd Neilson
said in two separate complaints filed in a California federal court
that the funds were transferred to the IRS and the CFTB in October
2011 to cover the personal tax liabilities of embattled founder
Francis and that the transfer did not benefit any of the GGW
subsidiaries or pass-through entities Neilson represents.

                         About GGW Brands

Santa Monica, California-based GGW Brands, LLC, the company behind
the "Gils Gone Wild" video, filed a Chapter 11 petition (Bankr.
C.D. Cal. Case No. 13-15130) on Feb. 27, 2013.  Judge Sandra R.
Klein oversees the case.  The company is represented by the Law
Offices of Robert M. Yaspan.  The company disclosed $0 to $50,000
in estimated assets and $10 million to $50 million in estimated
liabilities in its petition.

Affiliates GGW Events LLC, GGW Direct LLC and GGW Magazine LLC
also sought Chapter 11 protection.

GGW Marketing, LLC, another affiliate, filed a voluntary Chapter
11 petition on May 22, 2013, before the Bankruptcy Court for the
Central District of California (Los Angeles). The case is assigned
Case No. 13-23452.  Martin R. Barash, Esq., and Matthew Heyn,
Esq., at Klee, Tuchin, Bogdanoff and Stern, LLP, in Los Angeles,
California, represent GGW Marketing.

In April 2013, R. Todd Neilson, an ex-FBI agent, was appointed as
Chapter 11 Trustee to take over the companies.  Mr. Neilson has
investigated failed solar-power company Solyndra and was involved
in the Mike Tyson and Death Row Records bankruptcy cases.  He is
represented by David M Stern, Esq., Jonathan Mark Weiss, Esq., and
Robert J Pfister, Esq., at Klee Tuchin Bogdonaff and Stern LLP.

In April 2014, the Chapter 11 Trustee sold the "Girls Gone Wild"
video franchise and its assets for $1.83 million.  An auction set
earlier that month was canceled because there were no bids to
compete with the so-called stalking horse, who isn't affiliated
with founder Joe Francis.


GM FINANCIAL: Fitch Retains 'BB+' Rating Following Captive Leasing
------------------------------------------------------------------
General Motors' (GM) higher emphasis on offering its customers
lease options through its captive General Motors Financial (GMF)
subsidiary poses another challenge for Ally Financial (Ally) and
could pressure the bank to weigh other potentially higher risk
avenues to support its growth, says Fitch Ratings.  That said, the
loss of the GM contract will reduce Ally's exposure to residual
value risk which Fitch views positively given the current
environment, which is characterized by elevated used vehicle
pricing and intense competition.

Ratings assigned to Ally ('BB+', Outlook Stable) and GMF ('BB+',
Outlook Positive) are unaffected by the development at this time,
as Fitch had anticipated this possibility for some time, given GM's
stated objective to grow GMF.  That said, longer-term rating
implications will be influenced by Ally's response to the forgone
business.

Ally confirmed last week that GM would offer subvented leases on
several of its popular brands exclusively through GMF.  This
development adds to a number of headwinds facing Ally and the auto
finance industry more broadly, including normalizing credit
performance, intense competition and pricing pressure, as well as
elevated regulatory and litigation risk.

Ally's total lease origination volume for the three brands
affected, GMC, Buick and Cadillac, accounted for 12.7%, or $5.2
billion of Ally's $41 billion in total originations in 2014.  Fitch
believes Ally's remaining GM subvented products, which include
leasing for Chevy vehicles and loans on GM vehicles, remain at
risk.  Combined, these remaining products accounted for $8.1
billion or 20% of Ally's total 2014 originations.

Despite the loss of GM subvented lease volume, Ally remains
confident that it will achieve origination volume in the high $30
billion range in 2015.  Fitch believes the target is potentially
achievable but reaching it will pose challenges and may lead to
growth in potentially higher risk areas to meet shareholder
expectations.

The loss of the GM lease contracts comes as Michael Carpenter,
Ally's CEO since 2009 and the chief architect of the bank's
turnaround, has stepped down.  Ally executive Jeffrey Brown assumed
the helm as the new CEO on Feb. 2, having served in several
leadership positions at the bank since joining the firm several
years ago from Bank of America, where he last served as the
corporate Treasurer.

Fitch recognizes that Ally has successfully overcome multiple
significant challenges over the last few years as the company
transitioned from a captive finance company to an independent
diversified auto finance company.  GM's internalizing of leasing
presents yet another challenge for the company and places a greater
emphasis on Ally's 'growth' channel, which the company defines as
originations from non-GM and non-Chrysler dealers. Originations
within this channel have grown at a 61% CAGR since 2010 and
represented $8.3 billion in 2014 (or 20% of total 2014
originations).  Fitch continues to believe that Ally remains well
positioned as a market leader in the growing U.S. automotive
finance market, an industry that should provide ample opportunities
for the company to prudently grow its core auto finance business in
the future.

Ratings assigned to GMF and its affiliates' are equalized with the
GM parent.  Fitch considers GMF to be a 'core' subsidiary of GM
based on actual and potential support provided to GMF from GM, the
increasing percentage of GMF's earning assets related to GM, and
the strong financial and operational linkages between the
companies.

The rationale for GM's lease internalization in Fitch's view is
largely driven by the strategy to sustain strong unit sales and
earn an attractive net lease yield.  GM specifically noted that it
believes the company could better control its options for retaining
customers at the end of leases through its own financing arm.
Fitch agrees that leasing is an important strategy for auto firms
to build brand loyalty as lessees are more likely to lease or buy
with the same manufacturer.  However, leasing does introduce
residual value risk, which requires careful residual value and
depreciation policy setting, particularly in the current market
where used car values remain high but are expected to moderate.

Fitch will monitor GMF's growth and expansion in leasing, paying
particular attention to underwriting standards, residual value
management, profitability, funding and leverage.

GM's strategy of increasing its dependence on GMF is in line with
other global auto manufacturers.  However, a larger GMF increases
the likelihood that GM could need to provide extraordinary
financial assistance in the case of a liquidity event at the
subsidiary.  Such an event would have the potential to place
downward rating pressure on GM.



GOLDEN GUERNSEY: Launches Spate of Clawbacks Seeking $3.4-Mil.
--------------------------------------------------------------
Law360 reported that Charles A. Stanziale, Jr., the bankruptcy
trustee of defunct, formerly private equity-backed dairy company
Golden Guernsey LLC on has launched a series of clawback suits
against 20 companies in Delaware federal court seeking to recover
about $3.36 million that the company paid to distributors.

According to the report, the claims were made against Product
Distribution Services; Tate & Lyle Custom Ingredients LLC;
Sweetener Supply Corp.; Sendik’s Food Market; Picciolo
Distributors Inc.; RockTenn CP LLC ; R&M Milk Distribution Co.
Inc.; Quick Fuel Inc.; Mapleton Dairy Haulers Inc.; Danisco USA
Inc.; Dairy House Co.; ChemTreat Inc.; C. Delsman & Sons Inc.;
Stuart W. Johnson & Co. Inc.; Schreiber Foods Inc.; Rogers
Trucking; National Fluid Milk Processor Board; ECO Inc.; Dean
Transportation Inc.; Citrus Systems Madison LLC; Byrne Dairy Inc.;
All Star Dairy Association Inc.; RWS Design & Controls; and Dean
Illinois Dairies LLC.

                     About Golden Guernsey

Waukesha, Wisconsin-based milk processor Golden Guernsey, LLC,
filed for Chapter 7 bankruptcy (Bankr. D. Del. Case No. 13-10044)
on Jan. 8, 2013, days after closing the facility.

OpenGate Capital, LLC, a private investment and acquisition firm,
acquired Golden Guernsey in September 2011 from Dean Foods after
the United States Department of Justice required Dean Foods to
sell the business to resolve antitrust concerns that Dean Foods'
share of the school milk supply business was too large.

The Chapter 7 petition stated that assets and debt both exceed
$10 million.

Charles Stanziale was appointed Chapter 7 trustee.


GONZALES REDEVELOPMENT: S&P Raises Rating on TABs to 'BB+'
----------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term rating on
Gonzales Redevelopment Agency (RDA), Calif.'s series 2011 tax
allocation refunding bonds (TABs) to 'BB+' from 'BB-'.  The outlook
is stable.

"The upgrade is reflects the RDA's improved cash management
practices and full replenishment of reserve funds," said Standard &
Poor's credit analyst Michael Stock.

The rating further reflects S&P's view of the successor agency
(SA)'s:

   -- Concentrated tax base, with the top taxpayer constituting
      38% and the top 10 taxpayers constituting 74% of incremental

      assessed value (AV);

   -- Pro forma maximum annual debt service (MADS) coverage of
      1.79x; and

   -- High base-to-total volatility ratio of 0.40, indicating that

      a change in AV could cause a proportionally larger change in

      pledged revenues.

Partially mitigating the preceding credit weaknesses, in S&P's
view, are the SA's recent AV growth and absence of significant
appeals.

The bonds are secured by tax increment revenues from the Gonzales
Redevelopment Project Area No. 1, net of certain pass-through
payments.  The bonds are on parity with the agency's 2003 tax
allocation refunding bonds.

The stable outlook reflects management prioritizing bond debt
service over its obligations on the loan to the city and reserving
for principal and stabilization in AV.  An upgrade is possible
within the next year if there are continued positive AV trends that
would increase debt service coverage and therefore cover an
increased number of delinquent taxpayers in Standard & Poor's
stress scenarios and continued cash management procedures that
match the requirements of the indenture.  Should AV suddenly
decrease or should management change its cash management practices,
it could lead to a downgrade.



GRAPHIC PACKAGING: New Dividend No Impact on Moody's Ba2 Rating
---------------------------------------------------------------
Moody's Investors Service said Graphic Packaging International,
Inc's (Ba2, stable) initiation of a quarterly dividend and a new
$250 million share repurchase program do not impact ratings and
outlook as Moody's expect both to be funded from free cash
generation. Graphic will spend approximately $48 million on
dividends in 2015 and Moody's expect it to manage the pace of share
repurchases such that its credit metrics will remain supportive of
the Ba2 rating.



GREEN MOUNTAIN: First Tuskegee Objects to Proposed DIP Financing
----------------------------------------------------------------
First Tuskegee Bank objected to Green Mountain Management, LLC, et
al.'s motion for authorization to, among other things, obtain, on
an interim basis, secured priming postpetition financing up to an
aggregate principal or face amount not to exceed $2.0 million in
incremental borrowings.

First Tuskegee is a creditor of Volcan Disposal, LLC, and not a
creditor of the Debtors, however, the Debtors are in possession of
approximately 120 roll off containers, and three compactors,
pledged as security for a loan from First Tuskegee to Volcan
Disposal, LLC.

First Tuskegee objected to Debtors' motion insofar it proposes to
give any other party, including Bay Point Capital Partners, LP, a
security interest in the containers or compactors in which First
Tuskegee believes it has a superior lien.

                       DIP Financing Motion

As reported in the Troubled Company Reporter on Jan. 5, 2015, the
Debtors asked the Court for authorization to:

   a. obtain, on an interim basis, secured priming postpetition
financing up to an aggregate principal or face amount not to
exceed $2 million in incremental borrowings;

   b. execute and enter into the DIP Documents and to perform
other and further acts as may be required in connection with
the DIP Documents; and

   c. grant superpriority claims to the DIP lender payable from,
and having recourse to, all prepetition and postpetition property
of the Debtors' estates and all proceeds thereof, subject to carve
out on certain expenses.

The Debtors have an urgent need to obtain DIP Financing to, among
other things, fund the building of a third cell to increase
capacity at the landfill -- municipal solid waste landfill
northwest of Birmingham, Alabama.

After discussions with all potential lenders, the Debtors
determined that the proposal of Bay Point Capital Partners, LP
(the DIP lender), contained the most favorable pricing and other
terms and effectively addressed the Debtors' working capital and
liquidity requirements

The loan will have these interest rates:

   a) the base rate plus (b) 10%;

   b) effective immediately upon borrower learning of an event of
default, (i) unless waived in writing by the DIP lender, interest
on the outstanding loans under the DIP facility will accrue at a
rate that is 4% per annum in excess of the non-default interest
rate.

UMB Bank, N.A., the indenture trustee under that certain Mortgage
and Trust Indenture dated Aug. 1, 2010, has consented to the DIP
Facility, including the granting of priming liens and
superpriority claims to the DIP Lender provided, the indenture
trustee and the bondholders receive a full and complete release by
the Debtors of any and all claims relating to or arising from the
bonds.

A copy of the terms of the DIP Financing Motion is available for
free at
http://bankrupt.com/misc/GreenMountain_141_motionDIPfinancing.pdf

First Tuskegee is represented by:

         Philip L. Rubin, Esq.
         THE LAW OFFICE OF LEFKOFF, RUBIN, GLEASON & RUSSO, P.C.
         5555 Glenridge Connector, Suite 900
         Atlanta, GA 30342
         Tel: (404)869-6900

                       About Green Mountain

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

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Nov. 24, 2014.

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

The case is assigned to Judge Barbara Ellis-Monro.

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

No official committee of unsecured creditors has been appointed,
and UMB Bank, N.A.'s request for the appointment of a trustee was
resolved consensually pursuant to this Court's order entered on
Nov. 20, 2014.



GROVE ESTATES: Authorized to Sell York Property for $100K
---------------------------------------------------------
The U.S. Bankruptcy Court authorized Grove Estates, LP., to sell
real estate located at 300 Darlene Street (Lot 12) and 320 Darlene
Street (Lot 10), York, York County, Pennsylvania.

The sale is pursuant to that certain agreement between the Debtor,
as seller, and Robert M. Gratalo and Becky D. Gratalo or their
assigns, as buyer(s), for the total consideration of $100,000.

The secured liens against the real estate include a mortgage lien
in favor of M&T Bank in the present amount of $325,260.

All remaining proceeds from the sale will be held in trust by the
Debtor's counsel, Smigel Anderson & Sacks, LLP, pending further
order of the Court.

                       About Grove Estates

Grove Estates, LP, an operator of land development business in
York, Pennsylvania, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Pa. Case No. 14-04368) on Sept. 23,
2014.  The case is assigned to Judge Robert N Opel II.

The Debtor's counsel is Robert L Knupp, Esq., at Smigel, Anderson
& Sacks, LLP, in Harrisburg, Pennsylvania.  The Debtor's accountant
is Francis C. Musso, CPA, MPA, P.C.



GROVE ESTATES: Feb. 19 Set as Chapter 11 Plan Confirmation Hearing
------------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Feb. 19, 2015, at
10:00 a.m., to consider confirmation of Grove Estates, LP's
Reorganization Plan.

The Court has approved the Disclosure Statement dated Nov. 3, 2014.
The Court overruled the objection of Susquehanna Bank.

Jan. 24 was fixed as the last day to file with the Court a
tabulation of ballots accepting or rejecting the plan.

The Reorganization Plan proposes to pay creditors of Grove Estates
from exchange of property for debt, sale of assets, and cash flow
from future income.  The Plan provides for one class of secured
claims; no classes of unsecured claims; and one class of equity
security holders.  Currently there are no unsecured creditors
holding claims.  If any unsecured creditors make a claim, the
proponent of this Plan has valued any future claims at
approximately 100 cents on the dollar.  This Plan also provides for
the payment of administrative and priority claims in full on
the effective date of this Plan with respect to any such claim to
the extent permitted by the Code in cash at acceptance of the
plan.  Copies of the Disclosure Statement and Reorganization Plan
are available for free at:

         http://bankrupt.com/misc/GroveEstates_52_DS.pdf

                       About Grove Estates

Grove Estates, LP, an operator of land development business in
York, Pennsylvania, sought protection under Chapter 11 of the
Bankruptcy Code on Sept. 23, 2014 (Case No. 14-04368, Bankr. M.D.
Pa.).  The case is assigned to Judge Robert N Opel II.

The Debtor's counsel is Robert L Knupp, Esq., at Smigel, Anderson
& Sacks, LLP, in Harrisburg, Pennsylvania.  The Debtor's
accountant is Francis C. Musso, CPA, MPA, P.C.



GT ADVANCED: Baikowski International Sells Claim to Jefferies
-------------------------------------------------------------
In the Chapter 11 case of GT Advanced Technologies Inc., Baikowski
International Corporation transferred on Jan. 23, 2015, all of its
claim to Jefferies Leveraged Credit Products LLC Corporation.

                  About GT Advanced Technologies

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

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

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

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

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

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

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

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


GT ADVANCED: Bid for Trustee Appointment Denied
-----------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court denied GT
Advanced Technologies' (GTAT) equity security holder T. Richard
Falloh's motion for the immediate appointment of "a trustee to
safeguard the Debtors' estate from further gross mismanagement by
employed Manager Tom Gutierrez and cohort."

According to BData, the motion sought an examiner's appointment on
the following grounds: "For Dishonest representation of GT Advanced
Technologies' ability to meet its (publicly concealed) contractual
terms with Apple Inc., For Incompetence in allowing trade secrets
to be pilfered by Apple, Inc. employed, For failure to establish a
production line with back-up power on a 30-day constant growth
cycle who's failure on a per-cycle basis instantly results in tens
of millions of dollars in losses, for gross mismanagement of the
Company's assets by placing them into remote corporate entities
with the explicit goal of making them difficult to manage during a
pre-planned bankruptcy which benefited only Apple Inc. and the GTAT
Employee Managers who pushed their equity onto public investors."

                  About GT Advanced Technologies

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

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

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

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

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

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

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

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


GT ADVANCED: Hain Capital, TRC Fund Buy Claims in January 2015
--------------------------------------------------------------
In the Chapter 11 case of GT Advanced Technologies Inc., these
claims switched hands between Jan. 15, 2015, and Jan. 20, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Hain Capital Investors,  Dynamic Motion Control, Inc.  $370,883.53
LLC                                                        and
                                                       $397,816.61

TRC Master Fund LLC      In-Position Technologies,     $16,599
                         LLC

                  About GT Advanced Technologies

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

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

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

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

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

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

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

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


GT ADVANCED: Hires PwC as Accounting and Tax Advisor
----------------------------------------------------
GT Advanced Technologies Inc. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
New Hampshire to employ PricewaterhouseCoopers LLP ("PwC") as
accounting and tax advisor, nunc pro tunc to Oct. 6, 2015 petition
date.

The services to be performed by PwC under the Tax Consulting
Engagement letter include, but are not limited to, the following:

   (a) providing analyses, advice and opinions on tax planning or
       reporting matters, including research, discussions,
       preparations of memoranda and attendance at meetings;

   (b) providing advice and assistance with respect to matters
       involving the Internal Revenue Service ("IRS") or other tax

       authorities;

   (c) providing advice and assistance with respect to matters
       involving the IRS or other tax authorities;

   (d) providing advice and assistance with respect to inquires
       related to the GTAT's domestic and international tax
       structure;

   (e) assisting GTAT with its analysis of its consolidated
       financial statement tax accrual for the years ending
       Dec. 31, 2014 and Dec. 31, 2015;

   (f) assisting GTAT in preparing a U.S. transfer pricing package

       for the period 2014 fiscal year;

   (g) assisting GTAT with certain IRS examinations and appeals;

   (h) providing tax services to certain employees of GTAT are
       assigned to locations overseas such as China, Hong Kong,
       Korea and Taiwan.  Such services include, but are not
       limited to preparing domestic and foreign tax returns,
       related tax compliance services, administrative support and

       tax consulting services (the "IAS Services");

   (i) assisting GTAT with the preparation of GTAT's federal and
       state income tax returns for the year ended December 31,
       2014; and

   (j) assisting GTAT with the calculation and filing of GTAT's
       sale and use tax obligations.

The services to be performed by PwC under the Loaned Personnel
Engagement Letter include, but are not limited to, the following:

   (a) providing loaned staff to assist GTAT with certain matters
       related to the preparation of its financial statement tax
       accrual, tax compliance and daily tax department functions;

       and

   (b) PwC will provide loaned staff to GTAT through Dec. 31,
       2015, or as mutually agreed upon.

In consideration of the services to be provided by PwC, and as more
fully set forth in the Engagement Letter, subject to Court
approval, GTAT has agreed to pay PwC under the following fee
structure (the "Fee and Expense Structure"):

   (a) Tax Consulting Engagement Letter

       (1) Except with respect to IAS Services, PwC will charge
           The following hourly rates for PwC professionals
           performing work under the Tax Consulting Engagement
           Letter.

           Partner/Principal            $600-$750
           Managing Director            $575-$650
           Director                     $475-$525
           Manager                      $390-$440
           Senior Associate             $290-$340
           Associate                    $200-$265

       (2) With respect to IAS Services, PwC charges varying fixed

           rates or hourly rates depending on the type of work
           requested by GTAT. The specific rates are more fully
           described in the exhibits attached to the Tax
           Consulting Engagement Letter.


   (b) Loaned Personnel Engagement Letter

       (1) PwC will charge the following hourly rates for PwC
           Professionals performing work under the Loaned
           Personnel Engagement Letter:

           Manager                      $390
           Senior Associate             $290
           Associate and Other Staff    $200

The PwC professionals providing the services in the Engagement
Letters will consult with internal PwC bankruptcy retention and
billing advisors (the "PwC Retention Advisors") to ensure
compliance with applicable provisions of the Bankruptcy Code, the
Bankruptcy Rules, the Local Bankruptcy Rules of the United States
District Court for the District of New Hampshire (the "Local
Rules"), the U.S. Trustee Guidelines, and any other applicable
procedures and orders of this Court, as well as to decrease the
overall fees associated with the administrative aspects of PwC's
engagement. The services provided by these PwC Retention Advisors
shall include, but are not limited to:

   -- assistance with preparation of the bankruptcy retention
      documents;

   -- assistance with the disinterestedness disclosures; and

   -- preparation of interim and final fee applications.  Due to
      the specialized nature of these services, and consistency
      between bankruptcy venues, specific billing rates have been
      established for these PwC Retention Advisors.

The rate per hour for these PwC Retention Advisors by level of
experience will be as follows:

           Director                    $550
           Manager                     $400
           Senior Associate            $290
           Associate                   $225
           Paraprofessional            $150

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

PwC received payment of $839,967 during the 90 days before the
Petition Date.

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

The Court for the District of New Hampshire will hold a hearing on
the application on Feb. 12, 2015, at 10:00 a.m.  Objections were
due Feb. 5, 2015.

PwC can be reached at:

       Kevin P. Smithson
       PRICEWATERHOUSECOOPERS LLP
       125 High Street
       Boston, MA 02110
       Tel: (617) 530-5158

                   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.


GTM ENERGY: Order Sustaining Objections to Dobbins Claim Affirmed
-----------------------------------------------------------------
Judge R. David Proctor of the U.S. District Court for the Northern
District of Alabama, Eastern Division, affirms the Bankruptcy
Court's March 6, 2014 Order sustaining objections by the Chapter 11
Plan Administrator of GTM Energy Partners, LLC to the proof of
claim filed by Roy S. Dobbins.

Dobbins took an appeal from the bankruptcy court's March 6, 2014
Order sustaining objections by the Chapter 11 Plan Administrator,
William S. Kaye, to the proof of claim Dobbins filed on behalf of
Southern Energy Development Company, Inc.  The appellate case is
titled Roy Dobbins, Appellant v. William S. Kaye, Plan
Administrator, et al., Appellees, Case No. 1:14-CV-00817-RDP.

The case involves an October 2013 claim by Mr. Dobbins that the
Debtor failed to pay all royalties owed to SEDCO -- a corporation
owned by his wife -- in connection with a 2004 mining lease that
expired in 2009.

On February 16, 2011, more than a year after the 2004 Lease
expired, GTM commenced its bankruptcy case.  When GTM filed its
bankruptcy case, neither Mr. Dobbins' address shown in the 2004
Lease, nor any other address for him, was included in the mailing
matrix.

Shortly after the sale of substantially all of the assets of GTM
closed, on June 27, 2011, the deadline for filing proofs of claim
in the bankruptcy case expired.  On December 12, 2011, the
Bankruptcy Court confirmed GTM's Chapter 11 plan.  Mr. Dobbins was
not scheduled as a creditor, and there was no evidence that he
received any notice of GTM's bankruptcy proceedings.

On October 9, 2013, Mr. Dobbins filed a proof of claim in the
bankruptcy case on behalf of SEDCO.  The Proof of Claim asserts an
unsecured, prepetition claim in the amount of $452,606 for
royalties and damages.  The Plan Administrator filed objections to
the Claim and related documents.  On March 6, 2014, the Bankruptcy
Court sustained the Plan Administrator's Objection to Mr. Dobbins's
claim.

A full-text copy of the December 9, 2014 Memorandum Opinion is
available at http://bit.ly/16IikVJfrom Leagle.com.

The Appellant is represented by:

          Leigh A. Shelton, Esq.
          WILSON & SHELTON LLC
          3790 Main Street Powell
          Powells Crossroads, AL
          Telephone: (256) 638-9701

The Appellee is represented by:

          John D. Elrod, Esq.
          GREENBERG TRAURIG LLP
          3333 Piedmont Road NE, Suite 2500
          Atlanta, GA 30305
          Telephone: (678) 553-2100
          Facsimile: (678) 553-2212
          E-mail: elrodj@gtlaw.com

GTM Energy Partners, LLC filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ala. Case No. 11-80568) on February 16, 2011.


HALLMARK COLLECTION: Mid-Continent Not Liable in Copyright Suit
---------------------------------------------------------------
Law360 reported that a Texas magistrate judge said Mid-Continent
Casualty Co. shouldn't have to pay part of a $63 million judgment
won by an architectural firm that had sued defunct homebuilder
Hallmark Collection of Homes LLC for allegedly using its designs
without permission, saying the homebuilder hadn't given the insurer
adequate notice of the suit.

According to the report, U.S. Magistrate Judge Vanessa D. Gilmore
found that because Hallmark hadn't complied with a notice-of-suit
provision in several commercial general liability policies issued
to it by Mid-Continent, the insurer had been unable to adequately
defend Hallmark against Kipp Flores Architects LLC's suit.  Noting
that plaintiffs attempting to recover under an insurance policy as
a third-party judgment creditor must show that the insured complied
with all the terms of the policy, the judge recommended that the
case be tossed, the report related.

The case is Kipp Flores Architects LLC v. Mid-Continent Casualty
Co., Case No. 4:14-cv-02702, in the U.S. District Court for the
Southern District of Texas.


HEI INC: U.S. Trustee Opposes Supply Agreement
----------------------------------------------
Law360 reported that Daniel McDermott, the U.S. Trustee for Region
12, asked a Minnesota bankruptcy court to deny bankrupt
microelectronics developer HEI Inc.'s motion to continue selling
products whose materials are paid for by customers, saying there's
not enough clarity on how this will affect Chapter 11 proceedings.

The Troubled Company Reporter, on Jan. 16, 2015, reported that HEI
sought permission to enter into an agreement with Biosense Webster,
Inc., and similar agreements with some of its other customers.

Under the agreements with BWI and the potential agreements with
other customers, the Debtor would sell either inventory on hand or
finished products to the customers, in exchange for all related
expenses, plus a premium, being paid by the customers.  The items
that would be sold, along with any further operations required to
finish the items, would be of the same type as the items regularly
sold and operations regularly conducted by the Debtor prior to
the Petition Date.  The Purchase Order with BWI requires BWI to
pay
the Debtor a total of $500,000 as a premium payment.

According to Law360, the U.S. Trustee said that there's too much
uncertainty in the proposed arrangement as the agreements with BWI
or other customers aren't final and there's no clear delineation
between customer-bought inventories and ones that the company
already has on hand.  There is no telling what kind of costs will
materialize as a result, he argued, the report related.

                          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.

The U.S. Trustee has appointed three members to the Official
Committee of Unsecured Creditors.  The Committee is represented by
Fafinski, Mark & Johnson, P.A., as its bankruptcy counsel.


HYPERDYNAMICS CORP: Incurs $3.7-Mil. Net Loss for Fourth Quarter
----------------------------------------------------------------
Hyperdynamics Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $3.7 million for the three months ended Dec. 31, 2014,
compared to a net loss of $8.35 million for the same period in the
prior year.

The Company's balance sheet at Dec. 31, 2014, showed $40.04 million
in total assets, $2.3 million in total liabilities and total
stockholders' equity of $37.74 million.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/KrPDmT
                          
Hyperdynamics has two wholly-owned subsidiaries, SCS Corporation
Ltd (SCS), a Cayman corporation, and HYD Resources Corporation
(HYD), a Texas corporation. Through SCS and its wholly-owned
subsidiary, SCS Guinea SARL (SCSG), which is a Guinea limited
liability company formed under the laws of the Republic of Guinea
("Guinea") located in Conakry, Guinea, Hyperdynamics focuses on
oil and gas exploration offshore the coast of West Africa.

The Company reported a net loss of $4.05 million for the three
months
ended Sept. 30, 2014, compared with a net loss of $4.45 million for

the same period during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $42.6 million

in total assets, $1.18 million in total liabilities
and total stockholders' equity of $41.4 million.

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


IBAHN CORP: Hon. Laurie Selver Silverstein Now Handles Case
-----------------------------------------------------------
U.S. Bankruptcy Judge Brendan Linehan Shannon ordered that
effective Jan. 7, 2015, the Chapter 11 case of IBahn Corporation is
transferred to the Hon. Laurie Selver Silverstein for all further
proceedings and dispositions.

                        About IBahn Corp.

Salt Lake City, Utah-based IBahn Corp., a provider of Internet
services to hotels, sought bankruptcy protection (Bankr. D. Del.,
Case No. 13-12285), citing a loss of contracts with largest
customer Marriott International Inc. and patent litigation costs.
IBahn Chief Financial Officer Ryan Jonson said the company had
assets of $13.6 million and it listed liabilities of as much as $50
million in the Chapter 11 filing on Sept. 6, 2013.  The petitions
were signed by Ryan Jonson as chief financial officer.  Judge Peter
J. Walsh presides over the case.

Laura Davis Jones, Esq., Davis M. Bertenthal, Esq., James E.
O'Neill, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang,
Ziehl Young & Jones, LLP, serve as the Debtors' counsel.  The
Debtors' claims and noticing agent is Epiq Bankruptcy Solutions.
Epiq also serves as administrative agent.  Houlihan Lokey Capital,
Inc., serves as financial advisor and investment banker.



INFERNO DISTRIBUTION: Stroock Faces Malpractice Suit
----------------------------------------------------
Law360 reported that Stroock & Stroock & Lavan LLP was hit with a
legal malpractice suit in California state court by the trustee of
a bankrupt film company, who claims the firm's negligence cost it a
$3.6 million contract suit brought by a German producer over sales
agreements for the 2005 romantic comedy "Just Friends," starring
Ryan Reynolds.

According to the report, Wesley H. Avery, trustee for Inferno
Distribution LLC, says Stroock put inexperienced attorneys on the
company's case and dropped the ball on pursuing arbitration.

Based in Los Angeles, California, Inferno Distribution LLC and
affiliate Inferno International LLC filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Cal. Lead Case No. 12-39145) on Aug. 24,
2012.  Judge Barry Russell presides over the case.  Brian L.
Davidoff, Esq., at Greenberg Glusker Fields Claman & Machtinger
LLP, represents the Debtors.  The Debtors estimated assets between
$500,000 and $1 million, and debt between $1 million and $10
million.


ITUS CORP: Re-Prices Options for Executives and Directors
---------------------------------------------------------
The management of ITUS Corporation acted to re-price certain issued
and outstanding stock options for all of the officers, directors
and employees of the Company pursuant to the authority granted to
management by the Board.  The new exercise price of the Re-Priced
Options is $ 0.1030, the closing sales price of the Company's
common stock on Feb. 5, 2015, according to a regulatory filing with
the U.S. Securities and Exchange Commission.

All other terms of the previously granted Re-Priced Options remain
the same, including without limitation, the number of shares
underlying the options granted, the vesting periods of the options,
and the expiration dates of the options.

The following stock option grants and related stock option
agreements issued to the Company's executive officers and directors
are affected by the re-pricing:

                                           Number of
      Name of Officer/Director              Shares
      ------------------------            -----------
      Lewis H. Titterton                   6,010,000
      Robert A. Berman                    17,000,000
      Dr. Amit Kumar                      17,000,000
      Bruce F. Johnson                     1,020,000
      Dr. Andrea Belz                        450,000
      Dale Fox                               450,000
      Henry P. Herms                       1,425,000

Tisha Stender, who was the chief operating and legal officer of the
Company, is no longer employed by the Company as of Jan. 30, 2015.


                      About ITUS Corporation

ITUS Corp. -- http://www.ITUScorp.com/-- develops and acquires
patented technologies for the purposes of patent monetization and
patent assertion.  The company currently has 10 patent portfolios
in the areas of Key Based Web Conferencing Encryption, Encrypted
Cellular Communications, E-Paper(R) Electrophoretic Display, Nano
Field Emission Display ("nFED"), Micro Electro Mechanical Systems
Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window
Frame Construction, VPN Multicast Communications, Internet
Telephonic Gateway, and Enhanced Auction Technologies.

CopyTele changed its name to "ITUS Corporation" on Sept. 2, 2014,
to reflect the Company's change in its business operations.

Itus Corporation reported a net loss of $9.60 million on $3.66
million of total revenue for the year ended Oct. 31, 2014, compared
to a net loss of $10.08 million on $389,0000 of total revenue for
the year ended Oct. 31, 2013.  The Company also reported a net loss
of $4.25 million for the year ended Oct. 31, 2012, and a net loss
of $7.37 million for the year ended Oct. 31, 2011.

As of Oct. 31, 2014, the Company had $9.05 million in total assets,
$5.04 million in total liabilities and $4 million in total
shareholders' equity.


IVANHOE ENERGY: Receives Nasdaq Listing Non-Compliance Notice
-------------------------------------------------------------
Ivanhoe Energy Inc. received a letter, dated February 3, 2015, from
the Listing Qualifications Department of the NASDAQ Stock Market
(Nasdaq) indicating that following the resignation of Robert
Pirraglia from the company's board of directors on January 18,
2015, as disclosed in the company's January 19, 2015 news release,
the company fails to comply with Listing Rule 5605.

Listing Rule 5605 requires a listed company to have an audit
committee comprised of at least three independent members.  Mr.
Pirraglia's resignation reduced the number of independent directors
on the company's audit committee from three to two.

The Nasdaq letter provides that, consistent with Listing Rule
5605(c)(4), Nasdaq will grant the company the following cure period
to regain compliance with the audit committee membership
requirements: (i) until the earlier of the company's next annual
shareholders' meeting or January 18, 2016; or, (ii) if the next
annual shareholders' meeting is held before July 17, 2015, then the
company must evidence compliance no later than July 17, 2015.

                     About Ivanhoe Energy

Ivanhoe Energy -- http://www.ivanhoeenergy.com/-- is an
independent international heavy oil exploration and development
company focused on pursuing long-term growth using advanced
technologies, including its proprietary heavy oil upgrading process
(HTL(R)).


JEVIC TRANSPORTATION: Drivers Challenge Ch. 11 Deal in 3rd Circ.
----------------------------------------------------------------
Law360 reported that a group of drivers laid off from a bankrupt
trucking company asked the Third Circuit to strike an "earmarked"
settlement that allegedly favored its private equity owners and
excluded them from any distributions that might stem from class
action claims, saying it undermined the Bankruptcy Code's "checks
and balances."

According to the report, the former Jevic Transportation Inc.
drivers argued that although they had a higher priority under the
U.S. Bankruptcy Code, the settlement skipped them in favor of other
selected creditors.  Attorney Jack Raisner, Esq. --
jar@outtengolden.com -- of Outten & Golden LLP said that the
settlement served to create a "soft landing" for the private equity
owners of the company and other secured lenders and financiers,
which could have future negative consequences for priority
claimants.

                    About Jevic Transportation

Based in Delanco, New Jersey, Jevic Transportation Inc. --
http://www.jevic.com/-- provided trucking services.  Two  
affiliates -- Jevic Holding Corp. and Creek Road Properties --
have no assets or operations.  Jevic et al. sought Chapter 11
protection (Bankr. D. Del. Case No. 08-11008) on May 20, 2008.
Domenic E. Pacitti, Esq., and Michael W. Yurkewicz, Esq., at Klehr
Harrison Harvey Branzburg & Ellers, in Wilmington, Del., represent
the Debtors.  The U.S. Trustee for Region 3 appointed five
creditors to serve on an Official Committee of Unsecured
Creditors.  Robert J. Feinstein, Esq., Bruce Grohsgal, Esq., and
Maria A. Bove, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Del., represent the Official Committee of Unsecured
Creditors.

Before filing for bankruptcy, the Debtors initiated an orderly
wind-down process.  As a part of the wind-down process, the
Debtors ceased substantially all of their business and
terminated roughly 90% of their employees.  The Debtors continue
to manage the wind-down process in an attempt to deliver all
freight in their system and to retrieve their assets.

When the Debtors sought protection from their creditors, they
estimated assets and debts between $50 million and $100 million.
At Oct. 31, 2010, the Debtor had total assets of $425,000, total
liabilities of $12.2 million, and a stockholders' deficit of
$11.8 million.  The Debtor ended the period with $362,000 in cash,
which includes restricted cash of $67,000.




KID BRANDS: Dimensional Fund No Longer Holds Shares
---------------------------------------------------
Dimensional Fund Advisors LP, an investment adviser registered
under Section 203 of the Investment Advisors Act of 1940, disclosed
in a Schedule 13G filing with the Securities and Exchange
Commission that it no longer holds securities in Kid Brands Inc.  A
copy of the filing is available at http://1.usa.gov/170w6nz

                        About Kid Brands

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

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

The Debtor disclosed $921,000 in assets and $47.9 million in
liabilities as of the Chapter 11 filing.

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

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

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


KIOR INC: Lead Plaintiffs Balk at Adequacy of Plan Outline
----------------------------------------------------------
Class action lead plaintiffs Dave Carlton and Sharon Kegerreis
submitted a statement and reservation of rights in connection with
the motion, filed by debtor KiOR, Inc. for an order: (i) approving
the Disclosure Statement for the Debtor's plan of reorganization.

According to Lead Plaintiffs, they had proposed to the Debtor that
the Plan include provisions carving out their rights to pursue
claims against the Debtor to the extent of its available insurance
coverage.  The proposed language would also make clear that nothing
in the Plan or confirmation order would be deemed to release,
discharge or enjoin the Class' claims against the Debtor asserted
in the Securities Action to the extent of available insurance.
Lead Plaintiffs' right to pursue the Debtor for judgments, orders,
or settlement agreements arise from securities fraud claims.

                The Plan and Disclosure Statement

As reported in the TCR on Jan. 16, 2015, the Debtor filed with the
Court a First Amended Plan and accompanying Disclosure Statement,
which contemplate the reorganization of the Debtor with it emerging
from bankruptcy and continuing to operate its business as a
reorganized debtor.

Holders of general unsecured claims will receive ratable rights to
the assets of the liquidating trust.  A liquidating trust will be
created under the Plan.  The liquidating trust will be irrevocably
vested with (i) the funding designated for Class 8 (convenience
claims), (ii) cash in the amount of $100,000, and (iii) the vested
causes of action and their proceeds.

The Plan revolved around an auction of the Debtor's assets.  The
Debtor, however, notified the Bankruptcy Court that it did not
receive any qualified bids, other than the qualified bid from Vinod
Khosla, which served as the stalking horse bidder, prior to the
Jan. 7 bid deadline.  Accordingly, the Debtor has canceled the
Jan. 9 auction and the Debtor will not conduct an auction.  The
Debtor also notified the Court that, after discussions with the
stalking horse bidder, the Debtor will not seek assumption of the
purchase sale agreement, and, accordingly, withdrew its request for
authority to assume the PSA.

Instead, the Stalking Horse Bidder entered into a Plan Support
Commitment, pursuant to which it has unilaterally agreed to support
the Debtor's Plan.  Under the plan support commitment, the stalking
horse bidder agreed to provide funding for the Chapter 11 case
provided that the final order authorizing such funding must have
been obtained by the Debtor on or before Jan. 16, 2015.  A
full-text copy of the Plan Support Commitment, dated Jan. 14, 2015,
is available at:

         http://bankrupt.com/misc/KIORplansupport0114.pdf

A blacklined version of the dated Jan. 14, 2015, is available
at http://bankrupt.com/misc/KIORds0114.pdf

Lead plaintiffs are represented by:

         Laurence M. Rosen, Esq.
         Phillip Kim, Esq.
         THE ROSEN LAW FIRM, P.A.
         275 Madison Avenue, 34th Floor
         New York, New York 10016
         Tel: (212) 686-1060
         Fax: (212) 202-3827
         E-mails: lrosen@rosenlegal.com
                  pkim@rosenlegal.com

         Adam M. Apton, Esq.
         Nicholas I. Porritt, Esq.
         LEVI & KORSINSKY LLP
         1101 30th Street, NW, Suite 15
         Washington, D.C. 20007
         Tel: (202) 524-4290
         Fax: (202) 333-2121
         E-mails: aapton@zlk.com
                  nporritt@zlk.com

         Brian E. Farnan, Esq.
         Rosemary J. Piergiovanni, Esq.
         Michael J. Farnan, Esq.
         FARNAN LLP
         919 North Market Street, 12th Floor
         Wilmington DE 19801
         Tel: (302) 777-0300
         Fax: (302) 777-0301
         E-mail: bfarnan@farnanlaw.com
                 rpiergiovanni@farnanlaw.com
                 mfarnan@farnanlaw.com

                          About Kior Inc.

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

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

The Debtor disclosed $58.3 million in assets and $261 million
in liabilities as of June 30, 2014.

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

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



LEHMAN BROTHERS: CFTC Slams Forex Trader's "Dangerous" Claim
------------------------------------------------------------
Law360 reported that commodity market regulators objected to a
hedge fund manager's demand for full repayment on a $12 million
foreign-exchange debt with Lehman Brothers Inc., urging a narrow
reading of the Bankruptcy Code's protections for currency traders.

According to the report, the U.S. Commodity Futures Trading
Commission said in an amicus brief that to declare Moore Capital
Management LP a customer of LBI would set a "dangerous precedent"
that unregulated, off-exchange forex dealings are covered against
losses by the Securities Investor Protection Act.

                      About Lehman Brothers

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

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

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

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

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

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

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

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

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


LIGHTSQUARED INC: GPS Cos. Seek End to Harbinger Liability Suits
----------------------------------------------------------------
Law360 reported that global positioning system players Garmin
International Inc., Deere and Co. and Trimble Navigation Ltd. told
a Manhattan federal judge that they bore no contractual obligation
to support bankrupt LightSquared Inc.'s ill-fated plan to roll out
a broadband wireless network and no duty to disclose their eventual
opposition to LightSquared backer Harbinger Capital Partners LLC.

The case is Harbinger Capital Partners LLC et al v. Deere & Company
et al., Case No. 1:13-cv-05543 (S.D.N.Y.).

                     About LightSquared Inc.

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

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

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity
and runway necessary to resolve its issues with the FCC.

Despite working diligently and in good faith, however,
LightSquared
and the lenders were not able to consummate a global restructuring
on terms acceptable to all interested parties.

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


LOMBARD, IL: Chicago Suburb Refuses to Cover Bond Default
---------------------------------------------------------
Law360 reported that the Village of Lombard, a Chicago suburb
reiterated its vote not to cover a $1.9 million shortfall on bonds
issued for an under-performing hotel and conference center,
Lombard's director of finance said.

According to the report, since the start of 2012, the municipality
has repeatedly refused to cover the shortfall, caused by the hotel
making a lot less money than developers projected.  This has pushed
the $195 million in bonds issued for the hotel facility into
default, destroying the village's credit rating, the report
related.


LYONDELL CHEMICAL: Stockholders Battle $12.5-Bil. LBO Clawback Suit
-------------------------------------------------------------------
Law360 reported that a $12.5 billion clawback suit against Lyondell
Chemical Co. shareholders that were bought out by billionaire
tycoon Leonard Blavatnik turns on whether the petrochemical firm's
directors knew that the acquisition would harm unsecured Lyondell
creditors, attorneys said at oral arguments.

According to the report, in a packed Manhattan courtroom, attorneys
for Lyondell's former shareholders and the litigation vehicles left
behind in its Chapter 11 reorganization argued a closely watched
dispute on whether former equity holders must return money they
collected in a 2007 leveraged buyout.

                       About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  Luxembourg-based Basell AF
and Lyondell Chemical Company merged operations in 2007 to form
LyondellBasell Industries, the world's third largest independent
chemical company.  LyondellBasell became saddled with debt as
part of the US$12.7 billion merger.  Len Blavatnik's Access
Industries owned the Company prior to its bankruptcy filing.

On Jan. 6, 2009, LyondellBasell Industries' U.S. operations,
led by Lyondell Chemical Co., and one of its European holding
companies -- Basell Germany Holdings GmbH -- filed voluntary
petitions to reorganize under Chapter 11 of the U.S. Bankruptcy
Code to facilitate a restructuring of the company's debts.  The
case is In re Lyondell Chemical Company, et al., Bankr. S.D.N.Y.
Lead Case No. 09-10023).  Seventy-nine Lyondell entities filed
for Chapter 11.  Luxembourg-based LyondellBasell Industries AF
S.C.A. and another affiliate were voluntarily added to Lyondell
Chemical's reorganization filing under Chapter 11 protection on
April 24, 2009.

Deryck A. Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, served as the Debtors' bankruptcy counsel.  Evercore
Partners served as financial advisors, and Alix Partners and its
subsidiary AP Services LLC, served as restructuring advisors.
AlixPartners' Kevin M. McShea acted as the Debtors' Chief
Restructuring Officer.  Clifford Chance LLP served as
restructuring advisors to the European entities.

LyondellBasell emerged from Chapter 11 bankruptcy protection in
May 2010, with a plan that provides the Company with US$3 billion
of opening liquidity.  A new parent company, LyondellBasell
Industries N.V., incorporated in the Netherlands, is the
successor of the former parent company, LyondellBasell Industries
AF S.C.A., a Luxembourg company that is no longer part of
LyondellBasell.  LyondellBasell Industries N.V. owns and operates
substantially the same businesses as the previous parent company,
including subsidiaries that were not involved in the bankruptcy
cases.  LyondellBasell's corporate seat is Rotterdam,
Netherlands, with administrative offices in Houston and
Rotterdam.


MAYER EISENSTEIN: Medical Malpractice Claims Not Dischargeable
--------------------------------------------------------------
Debts owed to personal injury claimants who held medical
malpractice claims against debtor Mayer Eisenstein, M.D. are not
dischargeable under both 11 U.S.C. Sec. 523(a)(2)(A) and 11 U.S.C.
Sec. 523(a)(6), Bankruptcy Judge Jacqueline P. Cox said in a
February 4, 2015 Memorandum Opinion available at
http://bit.ly/1zoC2fKfrom Leagle.com.

The claimants are Jeffrey Haugland, as Administrator of the Estate
of Hayley Haugland, Deceased and Jeffrey Haugland Individually;
Theresa Melton and Robert Melton; Stephen Tremper and the Estate of
Dylan Tremper; Donna Williams, Rocky Williams and the Estate of
Joshua Williams; Ruth Ann Moritz and Bernard Hans Moritz, Jr.,
Individually and as Co-Guardians of the Estate of Adam Moritz, a
Disabled Minor and Ayesha El-Amin, as Administrator of the Estate
of Na'eem Shahid.

Mayer Eisenstein and his affiliated entities sought relief under
chapter 7 of the Bankruptcy Code (Banr. N.D. Ill. Case No.
13-01449) on Jan. 15, 2013.  The related entities are Comprehensive
Integrated Medicine M.D.S.C. (Case No. 13-01440), Comprehensive
Integrated Home Health Care Agency, Inc. (Case No. 13-01445), Mayer
Eisenstein, M.D.S.C. (Case No. 13-01455) and Home Care Health
Agency, Inc. (Case No. 13-1458).

Debtor Mayer Eisenstein is both a physician and an attorney.


MF GLOBAL: Attys Seek Fees in $27M Metals Settlement
----------------------------------------------------
Law360 reported that attorneys representing plaintiffs in two class
actions against MF Global Inc. asked a New York federal court to
approve attorneys' fees, each equal to about a third of some of the
funds they were able to secure for their clients in the $27 million
settlement over price manipulation in the palladium and platinum
markets.

According to the report, Doyle Lowther LLP, which represents the
physical commodities investors, asked for about $4 million in fees
and $229,230 in expense reimbursements.

The case is In Re: Platinum and Palladium Commodities Litigation,
Case No. 1:10-cv-03617 (S.D.N.Y.) before Judge William H. Pauley,
III.

                         About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of

the world's leading brokers of commodities and listed derivatives.

MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y.
Case Nos. 11-15059 and 11-5058), after a planned sale to
Interactive Brokers Group collapsed.  As of Sept. 30, 2011, MF
Global had $41,046,594,000 in total assets and $39,683,915,000 in
total liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and
11-15810).  On Dec. 27, the Court entered an order installing Mr.
Freeh as Chapter 11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told
creditors with $1.134 billion in unsecured claims against the
parent holding company why they could expect a recovery of 13.4%
to 39.1% from the plan.  As a consequence of a settlement with
JPMorgan, supplemental materials informed unsecured creditors
their recovery was reduced to the range of 11.4% to 34.4%.  Bank
lenders will have the same recovery on their $1.174 billion claim
against the holding company.  As a consequence of the settlement,
the predicted recovery became 18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary,
one of the companies under the umbrella of the holding company
trustee.  Previously, the predicted recovery was 14.7% to 34% on
bank lenders' claims against the finance subsidiary.


MINERAL PARK: Hit with WARN Suit Over Layoffs
---------------------------------------------
Law360 reported that a former Mineral Park Inc. employee launched a
putative class action in Delaware bankruptcy court, claiming the
mining company violated the Worker Adjustment and Retraining
Notification Act by axing hundreds of workers without proper
warning.

According to the report, plaintiff Brian Bartlett alleged that
Mineral Park terminated him and some 300 other employees at its
Arizona facility Jan. 9 without providing the 60-day advance
written notice required by the federal WARN Act.

The Troubled Company Reporter, on Jan. 5, 2015, reported that
Arizona Department of Economic Security spokesperson Nicole Moon
said that the mine company informed the state on Dec. 29, 2014,
that the layoffs would affect 383 workers.

                    About Mineral Park

Mineral Park, Inc., Bluefish Energy Corp. and two affiliates
commenced proceedings under Chapter 11 of the Bankruptcy Code in
Delaware on Aug. 25, 2014.  The cases are pending before the
Honorable Kevin J. Carey and are jointly administered under Case
No. 14-11996.

Mineral Park and its affiliated debtors are subsidiaries of
Mercator Minerals Ltd. ("MML"), a mineral resource company engaged
through various subsidiaries in the mining, exploration,
development and operation of its mineral properties in Mohave
County, Arizona, and Sonora, Mexico.

Mineral Park's principal asset is the Mineral Park Mine, a
producing copper-molybdenum mine located near Kingman, Arizona.
Bluefish is the owner and operator of the industrial gas turbine
power generator at the Mine.

British Columbia, Canada-based MML, which has shares trading on
the
Toronto Stock Exchange under the trading symbol "ML", is not
included in the bankruptcy filing.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP as
counsel, Evercore Group LLC as investment banker, FTI Consulting,
Inc., as financial advisor, FTI's David J. Beckman as CRO, and
FTI's Paul Hansen as assistant CRO.  Prime Clerk LLC is the claims
and noticing agent.

The U.S. Trustee for Region 3 appointed three creditors of Mineral
Park, Inc. and its affiliates to serve on the official committee
of
unsecured creditors.  The Committee selected Stinson Leonard
Street
LLP and Hiller & Arban LLC as its counsel.

Mineral Park reported $286 million in total assets and $266 million
in total liabilities.


MODULAR SPACE: S&P Revises Outlook to Negative & Affirms 'B-' CCR
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
mobile office and modular building lessor Berwyn, Pa.-based Modular
Space Corp. to negative from stable.  At the same time, S&P
affirmed the ratings on the company, including the 'B-' corporate
credit rating.  The 'B-' rating on the company's $365 million
senior secured second-lien notes due 2019 and '3' recovery rating
indicates S&P's expectation of meaningful (50%-70%) recovery to
holders of these notes in the event of a payment default.

The outlook revision reflects Standard & Poor's view that Modular
Space's credit metrics could remain weak, stemming largely from
losses related to a customer dispute on a large sale, foreign
exchange losses due to the strength in the U.S. dollar compared to
the Canadian dollar, continued softness in domestic markets, and
declining oil prices, which S&P expects to have an impact on
Canada, the company's highest margin geography.  S&P's base-case
forecast assumes that the ratio of funds from operations to debt
will remain in the 3%-4% range in 2015.  In addition, S&P could
revise its liquidity assessment to "less than adequate" from
"adequate" if the company does not refinance in a timely manner its
asset-based lending facility maturing June 2016.  

The rating on Modular Space reflects the cyclicality of demand for
Modular Space's leased modular units, the company's significant
debt levels and weak credit metrics, fairly diverse end markets,
and low customer concentration.



MOHEGAN TRIBAL: S&P Affirms All Ratings Including 'B-' ICR
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed all ratings, including
the 'B-' issuer credit rating, on Mohegan Tribal Gaming Authority
(MTGA).  The outlook is stable.

At the same time, S&P assigned its 'B-' issue-level rating to the
Mohegan Tribe of Indians of Connecticut's ("the Tribe's") proposed
$20.7 million priority distribution bond due 2045.  The Tribe will
transfer the net proceeds of the proposed offering to Mohegan
Tribal Finance Authority (MTFA) to be used to partly fund the
development and construction of a 400-room select service hotel
adjacent to Mohegan Sun in Connecticut.

S&P also lowered its issue-level rating on the Tribe's priority
distribution bonds due 2031 and 2033 to 'B-' from 'B' following a
reassessment of S&P's notching analysis under its criteria.

Standard & Poor's does not assign recovery ratings to Native
American debt issues, as there are sufficient uncertainties
surrounding the exercise of creditor rights against a sovereign
nation.  These include: whether the U.S. Bankruptcy Code would
apply, whether a U.S. court would ultimately be the appropriate
venue to settle such a matter, and to what extent a creditor would
be able to enforce any judgment against the sovereign nation.  The
notching of S&P's issue-level ratings from its issuer credit rating
on a given Native American issuer reflects the relative position of
each security in the capital structure, incorporating the amount of
higher ranking debt ahead of each issue.

When no recovery analysis is performed and in jurisdictions that
have limited precedent and data on recovery, S&P uses a
rule-of-thumb approach to identify issues with superior recovery
prospects as candidates for adding notches.  Candidates for
notching up are well-secured debt issues, where collateral consists
of assets with a well-established track record with respect to
recovery.  S&P believes the pledge of revenue that secures the
priority distribution bonds is insufficient collateral under S&P's
criteria, and it do not believe there is a consistent and
predictable track record across Native American issuers with
respect to lender recovery in a default scenario to support
notching the priority distribution bonds above S&P's issuer credit
rating on MTGA.  However, S&P believes debt service coverage of the
priority distribution bonds remains strong (estimated to be more
than 2x over the next several years factoring in the proposed new
issuance), as they are serviced by the priority distributions that
MTGA pays to the Tribe.  Under MTGA's credit agreement, these
priority distributions are allowed to be paid even in the event of
an MTGA default and are paid prior to MTGA debt service.

S&P's issuer credit rating on MTGA reflects MTGA's limited cash
flow diversity, given its portfolio of two properties in two
different gaming markets, and significant longer-term pressures
that MTGA will face at its Connecticut property as nearby states
allow or expand gaming options.  The high quality of its
properties, particularly its resort in Connecticut, somewhat offset
these factors and support S&P's business risk assessment of
"weak."

"Our ratings also take into account adjusted leverage that we
expect will remain above 6x through fiscal 2016, and our
expectation that interest coverage will be in the high-1x area in
fiscal 2015 and improve to the low-2x area at the end of fiscal
2016.  We reduce MTGA's EBITDA by the $50 million priority
distributions paid to the Tribe, because we consider these
operating expenses of MTGA and the relinquishment payments to
former developers (the last relinquishment payment prior to the
agreement's expiration was made in January 2015).  Although we
expect operating expenses to increase modestly in 2017 once MTGA
begins making lease payments to MTFA for the use of the newly
opened hotel in Connecticut, we do not believe the payments will
have a meaningful negative effect on overall EBITDA levels.  These
factors support our financial risk assessment of "highly
leveraged"," S&P said

The stable rating outlook reflects S&P's expectation that leverage
will remain high, at over 6x, through fiscal 2016.  S&P expects
interest coverage to be in the high-1x area in fiscal 2015,
improving to the low-2x area in fiscal 2016.   S&P believes changes
in the competitive landscape from new casinos in Massachusetts will
result in cash flow declines and weakening leverage and coverage
metrics over the next few years.  Before that happens, S&P expects
some improvement in leverage in 2015 and 2016 as MTGA focuses its
excess cash flow generation on paying down debt and the
relinquishment payment is eliminated, although S&P expects this
leverage decline will be temporary and will reverse following
performance declines related to the increasing supply of gaming
operations in the region.



MOHEGAN TRIBAL: S&P Assigns B- Issuer Credit Rating; Outlook Stable
-------------------------------------------------------------------
Standard & Poor's Ratings Services said assigned its 'B-' issuer
credit rating to Uncasville, Conn.-based Mohegan Tribal Finance
Authority (MTFA).  The rating outlook is stable.

At the same time, S&P assigned its 'B-' issue-level rating to
MTFA's proposed $102.1 million (aggregate principal amount) tribal
economic development bonds due 2045.

Concurrent with this transaction, The Mohegan Tribe of Indians of
Connecticut (the Tribe) plans to offer $20.7 million priority
distribution bonds for sale.  The Tribe will contribute the net
proceeds from this bond issuance to MTFA for the hotel construction
project and to fund an additional six months of interest, in the
event the tribal economic development bonds proceeds are inadequate
to cover debt service due to delayed or extended construction.

MTFA plans to use the combined proceeds to do these:

   -- Fund the development and construction of a 400-room select-
      service hotel on the Tribe's reservation in Uncasville,
      Conn.;

   -- Fund interest payments for the tribal economic development
      bonds through the planned 20-month construction period; and

   -- Fund transaction fees and expenses.

S&P does not assign recovery ratings to Native American debt
issues, since there are sufficient uncertainties surrounding the
exercise of creditor rights against a sovereign nation.  These
include whether the U.S. Bankruptcy Code would apply, whether a
U.S. court would ultimately be the appropriate venue to settle such
a matter, and to what extent a creditor would be able to enforce
any judgment against the sovereign nation.  The notching of S&P's
issue-level ratings from its issuer credit rating on a given Native
American issuer reflects the relative position of each security in
the capital structure and incorporates the amount of higher ranking
debt ahead of each issue.  Since the tribal economic development
bonds are the only debt in MTFA's capital structure, S&P rates them
at the same level as the issuer.

"Our 'B-' issuer credit rating on MTFA reflects our assessment of
the company's business risk profile as 'vulnerable' and its
financial risk profile as 'highly leveraged,' based on our
criteria," said Standard & Poor's credit analyst Carissa Schreck.

"The stable rating outlook reflects our view that the proceeds from
the financing and an interest reserve account will adequately cover
capital expenditures and debt service expenses through the
construction period, and that base rent payments from MTGA will
sufficiently cover debt service costs upon opening of the hotel,"
said Ms. Schreck.

S&P could lower the rating if it believes that MTGA would be unable
or unwilling to pay base rent payments, pressuring MTFA's ability
to cover debt service.  S&P would likely lower the rating if EBITDA
coverage of fixed charges fell below 1x.

An upgrade is unlikely at this time, given that S&P expects the
base rent payments to meet debt service costs once the hotel opens,
and EBITDA coverage of fixed charges is about 1x.



MOMENTIVE PERFORMANCE: Top Bondholders Fail in Collateral Suits
---------------------------------------------------------------
Law360 reported that a New York bankruptcy judge has again rejected
lawsuits accusing Momentive Performance Materials Inc. bondholders
of stepping on higher-ranking creditors' collateral rights, finding
no impropriety in the junior group's receipt of $7.1 million in
legal fees from the debtor.

According to the report, U.S. Bankruptcy Judge Robert Drain held
that the amended complaints brought by two groups of senior secured
bondholders did not cure the defects that sunk their original
versions, which took aim at the second-lien creditors that
championed Momentive's controversial restructuring plan and now
control the company.

                   About Momentive Performance

Momentive Performance is one of the world's largest producers of
silicones and silicone derivatives, and is a global leader in the
development and manufacture of products derived from quartz and
specialty ceramics.  Momentive has a 70-year history, with its
origins as the Advanced Materials business of General Electric
Company.  In 2006, investment funds affiliated with Apollo Global
Management, LLC, acquired the company from GE.

As of Dec. 31, 2013, the Company had 4,500 employees worldwide, of
which 46% of the Company's employees are members of a labor union
or are represented by workers' councils that have collective
bargaining agreements.

Momentive Performance Materials Inc., Momentive Performance
Materials Holdings Inc., and their affiliates sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 14-22503) on April 14,
2014, with a deal with noteholders on a balance-sheet
restructuring.

As of Dec. 31, 2013, the Debtors had $4.11 billion of outstanding
indebtedness, including payments due within the next 12 months and
short-term borrowings.  The Debtors said that the restructuring
will eliminate $3 billion in debt.

The Debtors have tapped Willkie Farr & Gallagher LLP as bankruptcy
counsel with regard to the filing and prosecution of these chapter
11 cases; Sidley Austin LLP as special litigation counsel; Moelis
& Company LLC as financial advisor and investment banker;
AlixPartners, LLP as restructuring advisor; PricewaterhouseCoopers
as auditor; and Crowe Horwath LLP as benefit plan auditor.
Kurtzman Carson Consultants LLC is the notice and claims agent.

The Court entered an order confirming the Plan on Sept. 11, 2014.

The Official Committee of Unsecured Creditors tapped Klee, Tuchin,
Bogdanoff & Stern LLP serves as its counsel; FTI Consulting, Inc.,
as its financial advisor; and Rust Consulting Omni Bankruptcy
serves as its information agent.

Wilmington Trust, National Association, the Trustee for the
Momentive Performance Materials Inc. 10% Senior Secured Notes due
2020 -- 1.5 Lien Notes -- under the Indenture, dated as of May 25,
2012, by and between Momentive Performance, and The Bank of New
York Mellon Trust Company, National Association, is represented by
Mark R. Somerstein, Esq., Mark I. Bane, Esq., and Stephen Moeller-
Sally, Esq., at Ropes & Gray LLP.

U.S. Bank National Association -- as successor Indenture Trustee
under the indenture dated as of Dec. 4, 2006, among Momentive
Performance, the Guarantors named in the Indenture, and Wells
Fargo Bank, N.A. as initial trustee, governing the 11.5% Senior
Subordinated Notes due 2016 -- is represented in the case by
Susheel Kirpalani, Esq., Benjamin I. Finestone, Esq., David L.
Elsberg, Esq., Robert Loigman, Esq., K. John Shaffer, Esq., and
Matthew R. Scheck, Esq., at Quinn Emanuel Urquhart & Sullivan,
LLP; and Clark Whitmore, Esq., and Ana Chilingarishvili, Esq., at
Maslon Edelman Borman & Brand, LLP.

BOKF, NA -- as successor First Lien Trustee to The Bank of New
York Mellon Trust Company, N.A., as trustee under an indenture
dated as of Oct. 25, 2012, for the 8.875% First-Priority Senior
Secured Notes due 2020 issued by Momentive Performance and
guaranteed by certain of the debtors -- is represented by Michael
J. Sage, Esq., Brian E. Greer, Esq., and Mauricio A. Espana, Esq.,
at Dechert LLP.

Counsel to Apollo Global Management, LLC and certain of its
affiliated funds are Ira S. Dizengoff, Esq., Philip C. Dublin,
Esq., Abid Qureshi, Esq., Deborah J. Newman, Esq., and Ashleigh L.
Blaylock, Esq., at Akin Gump Strauss Hauer & Feld LLP.

Attorneys for Ad Hoc Committee of Second Lien Noteholders are
Dennis F. Dunne, Esq., Michael Hirschfeld, Esq., and Samuel A.
Khalil, Esq., at Milbank, Tweed, Hadley & McCloy LLP.

The Debtors' Chapter 11 plan of reorganization became effective as
of Oct. 24, 2014.

                        *     *     *

The Troubled Company Reporter, on Dec. 29, 2014, reported that
Standard & Poor's Ratings Services assigned a 'B-' corporate
credit rating to Momentive Performance Materials Inc. (MPM).  The
outlook is stable.  At the same time, S&P assigned a 'B' issue
rating and '2' recovery rating to the company's $1.1 billion 3.88%
first-priority senior secured notes due 2021.  In addition, S&P
assigned a 'B-' issue rating and '4' recovery rating to the
company's $250 million 4.69% second-priority senior secured notes
due 2022.

The TCR, on Jan. 20, 2015, reported that Moody's Investors Service
has assigned a corporate family rating (CFR) of B3 and a
probability of default rating (PDR) of B3-PD to Momentive
Performance Materials Inc. Concurrently, Moody has assigned a B3
rating to Momentive's $1.1 billion, at 3.88%, first-lien senior
secured notes due 2021; and a Caa2 rating to Momentive's $250
million, at 4.69%, second-lien senior secured notes due 2022.
Moody's has also assigned an SGL-3 speculative grade liquidity
rating. The outlook on the ratings is stable.


NATROL INC: $1.29MM in Claims Switched Hands in 2014 Q4
-------------------------------------------------------
In the Chapter 11 case of Natrol, Inc., et al., 18 claims switched
hands between October 2014 and December 2014:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Claims Recovery Group LLC    Abelman Frayne And          $890.00
                             Schwab

Claims Recovery Group LLC    Abelman Frayne And        $2,189.00
                             Schwab

Claims Recovery Group LLC    Haro Bicycle             $27,216.00
                             Corporation

Claims Recovery Group LLC    Labeling Systems Inc        $890.16

Claims Recovery Group LLC    Oakwood Corporate         $9,000.00
                             Housing

EKC Financial LLC            Cintas Corporation No. 2    $654.64

Southpaw Koufax LLC          Atradius Trade Credit   $328,639.68
                             Insurance Inc.

Southpaw Koufax LLC          CBS Corporation         $595,600.00

Tannor Partners Credit       Cendrowski Corporate     $36,818.75
Fund, LP                     Advisors

Tannor Partners Credit       Sacher, Zelman,          $62,012.24
Fund, LP                     Hartman, Paul, Beiley  
                             & Sacher, P.A.

TRC Master Fund LLC          Blower Dempsay Corp.        $895.50

TRC Master Fund LLC          Blower Dempsay Corp.     $10,080.90

TRC Master Fund LLC          Blower Dempsay Corp.    $101,890.62

TRC Master Fund LLC          Fox Television           $52,200.00
                             Stations, Inc.

TRC Master Fund LLC          Information Resources,    $5,140.93
                             Inc.

TRC Master Fund LLC          Information Resources,   $17,427.04
                             Inc.

TRC Master Fund LLC          Information Resources,   $22,567.97
                             Inc.

TRC Master Fund LLC          Symphonyiri Group        $17,150.64

                     About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico  
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established
in 1980, Natrol, Inc. has been a global leader in the nutrition
industry, and a trusted manufacturer and marketer of a superior
quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 appointed five creditors of Natrol,
Inc. to serve on the official committee of unsecured creditors.
The Committee tapped to retain Otterbourg P.C. as lead counsel;
(ii) Pepper Hamilton LLP as Delaware counsel; and (iii) CMAG as
financial advisors.


NORTH AMERICAN HEALTH: Case Summary & 15 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: North American Health Care, Inc.
        32836 Pacific Coast Highway, Suite 203
        Dana Point, CA 92629

Case No.: 15-10610

Nature of Business: Health Care

Chapter 11 Petition Date: February 6, 2015

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Mark S Wallace

Debtor's Counsel: David L. Neale, Esq.
                  LEVENE, NEALE, BENDER, YOO & BRILL LLP
                  10250 Constellation Blvd Ste 1700
                  Los Angeles, CA 90067
                  Tel: 310-229-1234
                  Fax: 310-229-1244
                  Email: dln@lnbrb.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John L. Sorensen, president and chief
executive officer.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-10610.pdf


NORTH SHORE ENERGY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: North Shore Energy Services, LLC
        3471 Babcock Blvd, Suite 205
        Pittsburgh, PA 15237

Case No.: 15-20390

Chapter 11 Petition Date: February 6, 2015

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Hon. Carlota M. Bohm

Debtor's Counsel: Donald R. Calaiaro, Esq.
                  CALAIARO VALENCIK
                  428 Forbes Ave., Suite 900
                  Pittsburgh, PA 15219
                  Tel: 412-232-0930
                  Fax: 412-232-3858
                  Email: dcalaiaro@c-vlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael Havelka, authorized individual.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb15-20390.pdf


NORTHWEST HARDWOODS: Moody's Affirms B2 Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Northwest
Hardwoods, Inc. ("NWH"), a national manufacturer and distributor of
hardwood lumber used for diverse end products such as millwork,
cabinetry, flooring, and furniture, including its B2 Corporate
Family Rating and B2-PD probability of Default Rating. In a related
rating action, Moody's affirmed the B3 rating assigned to NWH's
Senior Secured Notes due 2021, which are being increased to $450
million from $300 million. The $150 million add-on will have
essentially the same terms and conditions as the company's existing
Notes due 2021, and will rank pari passu in right of payment. The
rating outlook is stable.

These rating actions follow NWH's recent announcement that it is
acquiring ITL Corp., a North American hardwoods producer, for
approximately $122 million. Proceeds from the proposed $150 million
add-on will be used to finance the acquisition of ITL, reduce
outstanding borrowings under NWH's revolving credit facility, and
pay related fees and expenses.

NWH is expanding its footprint into the Upper Appalachian region, a
new source of hardwood for the company, by acquiring ITL's mills
and concentration yards located in Ohio, West Virginia, North
Carolina and Pennsylvania, as well as a large distribution/service
center. Upon closing, NWH will have approximately 600 million board
feet of hardwood sawmill capacity, strengthening NWH's position as
the largest manufacturer of North American hardwood lumber.

The following ratings will be affected by this action:

  Corporate Family Rating affirmed at B2;

  Probability of Default Rating affirmed at B2-PD; and,

  Senior Secured Notes due 2021 affirmed at B3 (LGD4).

Ratings Rationale

NWH's B2 Corporate Family Rating results from the company's
leveraged capital structure. Moody's estimates pro forma leverage
in the 5.25x -- 5.5x range when considering the net increase in
debt and earnings derived from the acquisition of ITL. Pro forma
interest coverage (measured as EBITA-to-interest expense) will fall
to about 2.0x from 3.0x due to a combination of full-year interest
on the debt used for the leveraged buyout of NWH by affiliates of
Littlejohn & Co. in July 2014 and the debt used for the purchase of
ITL (all ratios incorporate Moody's standard adjustments). NWH has
significant negative tangible worth, but the pro forma debt credit
metrics are reasonable relative to the current ratings. The
company's ability to generate consistent free cash flow relative to
its debt burden creates a significant credit risk. Cash interest
payments alone will approach $34 million per year. Inclusive of
expected free cash flow generated by ITL, NWH's free cash flow
relative to adjusted debt remains weak at about negative 3.5% on a
pro forma basis. A higher level of working capital expenditures
relative to previous years to meet growing demand further limits
NWH's ability to reduce revolver borrowings.

Offsetting some of these concerns is NWH's leading position as a
manufacturer and distributor of hardwood lumber with multiple mills
and concentration yards throughout the United States. Moody's also
expects NWH will benefit from the strength in new home construction
and repair and remodeling, end markets from which NWH collectively
derives about 60% of its revenues. NWH derives 30% of revenues from
overseas exports, highlighted by good presence in China. Many
overseas countries lack the capability for internal production and
quick harvesting of high quality hardwoods, forcing demand for
North American hardwood exports and creating a source of revenue
stability for NWH. The remaining balance of revenues is derived
from the industrial sector, for which the company mainly provides
green lumber pallets. NWH's liquidity profile, characterized by
revolver availability and the absence of any debt maturities until
its revolver expires in 2019, gives NWH the financial flexibility
to meet potential shortfalls in operating cash flows and higher
working capital needs. Free cash flow will be used for reducing
borrowings under the company's revolving credit facility.

The stable rating outlook incorporates Moody's view that NWH's
operating performance and resulting cash flow generation will
improve, resulting in cash flow metrics that are more supportive of
the current Corporate Family Rating.

Due to NWH's leveraged capital structure and its inability to
generate significant levels of free cash flow, positive rating
actions are unlikely over the intermediate term. However, if the
company expands its margins and generates free cash flow such that
debt-to-EBITDA is sustained near 4.75x and free cash flow-to-debt
remains above 5% (all ratios incorporate Moody's standard
adjustments), then positive rating actions may ensue. A better
liquidity profile could also support upwards ratings potential.

Negative rating actions may occur if NWH fails to meet Moody's
expectations for both operating and financial performance over the
next 12 to 18 months. Debt-to-EBITDA sustained above 6.0x or
EBITA-to-interest expense trends towards 1.5x (all ratios
incorporate Moody's standard adjustments) could each pressure the
ratings. A deterioration of the company's liquidity profile,
characterized by a lack of free cash generation, high levels of
revolving credit facility borrowings, or large debt-financed
acquisitions or dividends, could also negatively affect ratings.

The B3 rating assigned to NWH's $450 million Senior Secured Notes
due 2021, one notch below the Corporate Family Rating, results from
their structural subordination to NWH's $100 million asset-based
revolving credit facility (unrated). The Notes have a first lien on
substantially all of NWH's long-term assets, and a second lien on
the assets securing the revolving credit facility. Moody's believe
the residual value of the collateral securing the Notes will be
modest in a recovery scenario. Hardwoods Intermediate Holdings II,
Inc. will be issuer of the audited financial statements and is the
direct parent holding company of Northwest Hardwoods, Inc., the
primary operating entity. Hardwoods Intermediate Holdings II and
NWH's material domestic subsidiaries guarantee both the revolving
credit facility and Notes.

Northwest Hardwoods, Inc., headquartered in Tacoma, WA, is a
national manufacturer and distributor of hardwood lumber used for
diverse end products such as mill work, cabinetry, flooring, and
furniture. Approximately 30% of revenues are derived from exports.
Littlejohn & Co., through its affiliates, will be the primary owner
of Northwest Hardwoods. Revenues on a pro forma basis for the last
12 months through September 30, 2014 total about $765 million.

The principal methodology used in this rating was Global
Manufacturing Companies published in July 2014. Other methodologies
used include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.



NORTHWEST HARDWOODS: S&P Affirms 'B' CCR; Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating on Northwest Hardwoods Inc.  The outlook is
stable.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's $450 million 7.5% senior secured notes due 2021, which
includes a $150 million follow-on offering.

Tacoma, Wash.-based Northwest Hardwoods Inc. is a manufacturer and
distributor of hardwoods used in flooring, furniture, pallets, and
other uses.

"The stable outlook reflects our view that key drivers such as the
ongoing U.S. housing recovery and improved repair and remodeling
spending will support steady improvement in demand for hardwoods
used in millwork, furniture, and other residential uses," said
Standard & Poor's credit analyst Pablo Garces.  "We also think
slower but still healthy growth in China will support demand for
wood used in pallets and other products.  These favorable
conditions are likely to drive higher EBITDA in 2015, with leverage
below 5x by year end."

An upgrade is unlikely in the next 12 months because S&P typically
assess financial sponsor-owned companies as having highly leveraged
financial risk profiles, even if credit might indicate otherwise at
given point in time.  This is because S&P incorporates the risk of
subsequent leveraging.  However, S&P could eventually upgrade
Northwest Hardwoods by one notch if S&P expects leverage to stay
below 5x EBITDA and S&P understands that management and the
company's financial sponsor are committed to maintain more
conservative financial policies.

Given S&P's favorable view of the company's end markets, it
believes a downgrade is unlikely in the next year unless the
company's liquidity became constrained.  Since S&P expects EBITDA
to improve in this timeframe, the most likely downside scenario
would involve more aggressive financial policies including
leveraged acquisitions or distributions to the owner.  S&P do not
expect this to occur in the near term.



OVERSEAS SHIPHOLDING: "Odd" Proskauer Suit Against Execs Nixed
--------------------------------------------------------------
Law360 reported that a New York judge tossed a fraud suit brought
by Proskauer Rose LLP against one current and one former executive
of ex-client Overseas Shipholding Group Inc., which has accused the
firm of tax-law malpractice, saying Proskauer's claims belonged in
the malpractice litigation.

According to the report, calling the suit "kind of odd," and
refusing to accept the notion pushed by Proskauer's counsel Paul
Spagnoletti of Davis Polk & Wardwell LLP that defendants James
Edelson and Myles Itkin could somehow be targeted for tort claims
and punitive damages, the New York judge dismissed the case.

                   About Overseas Shipholding

Overseas Shipholding Group, Inc. (OTC: OSGIQ), headquartered in
New
York, is one of the largest publicly traded tanker companies in
the
world, engaged primarily in the ocean transportation of
crude oil and petroleum products.  OSG owns or operates 111
vessels
that transport oil and petroleum products throughout the world.

Overseas Shipholding Group and 180 affiliates filed voluntary
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on
Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67
billion
in liabilities.  

The Debtors tapped Cleary Gottlieb Steen & Hamilton LLP as
counsel;
Arsht & Tunnell LLP, as local counsel; Chilmark Partners LLC, as
financial adviser; and Kurtzman Carson Consultants LLC, as claims
and notice agent.  The official committee of unsecured creditors
tapped Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton
LLP,
as co-counsel; FTI Consulting, Inc., as financial advisor; and
Houlihan Lokey Capital, Inc., as investment banker.  The official
committee of equity security holders tapped Brown Rudnick LLP and
Fox Rothschild LLP as attorneys.

Creditor Export-Import Bank of China engaged Fulbright & Jaworski
LLP and Richards Layton & Finger PA as counsel, and Chilmark
Partners, LLC as financial and restructuring advisor.  U.S. Bank
National Association, the successor administrative agent under the
$1.5 billion credit agreement, tapped Milbank, Tweed, Hadley &
McCloy LLP; Holland & Knight LLP; and Drinker Biddle & Reath LLP
as
counsel; and Lazard Freres & Co. LLC as advisor.

Judge Walsh signed in July 2014 entered an order confirming the
First Amended Joint Plan of Reorganization of OSG.  The Plan,
which
became effective in August 2014, paid creditors in full.  A
blacklined version of the Plan dated July 17, 2014, is available
at
http://bankrupt.com/misc/OSGplan0716.pdf    

                          *     *     *

The Troubled Company Reporter, on Aug. 14, 2014, reported that
Moody's Investors Service assigned 'Caa1' ratings to the unsecured
notes of OSG that are being reinstated pursuant to its plan of
reorganization which becomes effective.  Moody's also affirmed the
'B2' Corporate Family Rating and all of the other debt ratings it
assigned to OSG on June 12, 2014 in anticipation of the conclusion
of the Chapter 11 reorganization.  The rating outlook is stable.

The TCR, on Aug. 19, 2014, also reported that Standard & Poor's
Ratings Services assigned its 'B' corporate credit rating to OSG.
The outlook is stable.


PALLISER OIL: To File for Creditor Protection Under CCAA
--------------------------------------------------------
Palliser Oil & Gas Corporation on Feb. 9 disclosed that, after
careful consideration of all available alternatives, the Board of
Directors of Palliser has determined that it is in the best
interests of Palliser and all of its stakeholders to seek creditor
protection under the Companies' Creditors Arrangement Act (Canada)
(the "CCAA") and will make an application to the Court of Queen's
Bench of Alberta on February 12, 2015 to seek such protection.

Palliser received a "Notice of Intention to Enforce Security" from
its banker, National Bank of Canada, on January 27, 2015, with
demand that the full amount of Palliser's indebtedness outstanding
as at January 27, 2015 of approximately $40,000,000 be repaid by
the close of business on February 6, 2015.

Palliser was not and is not in a position to meet the demands of
the Bank.  On February 9, 2015 the Bank provided Palliser with an
application to appoint FTI Consulting Canada Inc. as a receiver and
manager of the assets, undertakings and property of Palliser. This
application is also scheduled for February 12, 2015.  It is the
understanding of Palliser that the Bank will seek to oppose
Palliser's CCAA application.

Management and the directors of Palliser have been in active
discussions with interested third parties and continue to pursue a
number of potential restructuring transactions to preserve and
maintain value for all stakeholders.  CCAA protection stays
creditors and others from enforcing rights against Palliser and
enables Palliser to continue attempting to restructure its
financial affairs and continue operations.  To that end, Palliser
has a commitment from Invico Diversified Income Limited
Partnership, whereby, subject to the approval of the Court, Invico
will provide $1,250,000 in interim debtor-in-possession financing
to Palliser.

Paradigm Capital Inc. will continue to be engaged as Palliser's
financial advisor with respect to the strategic alternatives and
capital restructuring process.

While CCAA protection, if granted, will allow Palliser to continue
to attempt to restructure its financial affairs, the value of what
will be left for shareholders is uncertain and will depend upon the
terms of the proposed restructuring plan approved by the creditors
and the Court.

A material change report which was previously filed on a
confidential basis with securities regulators will be filed on
SEDAR. Palliser will issue a further press release on or before
February 12, 2015 which will provide an update.

                        About Palliser

Palliser is a Calgary-based junior oil and gas company focused on
high netback heavy oil production in the greater Lloydminster area
of Alberta and Saskatchewan.


PARASUCO RETAIL: To Close Seven Retail Stores in Canada
-------------------------------------------------------
Parasuco Retail Inc. will close the seven retail stores it owns and
operates in Canada, as of
February 6, 2015.

Parasuco Jeans Inc., headquartered in Montreal, Quebec will
continue selling directly to customers through its online sales
platform -- http://www.parasuco.com/-- and pursue further growth
with its successful wholesale and private label divisions.  These
combined operations employ more than 70 Montrealers who will
continue to grow the brand globally by sourcing, designing and
developing the most fashionable and innovative denims.

The Parasuco label owes much of its success to its constant
creative renewal; Mr. Salvatore Parasuco developed stretch denim,
the sandblasting of jeans, and he was the first to acid wash jeans
in Canada.  The move towards a strengthened online presence will
allow Parasuco Jeans Inc. to remain competitive as it strives to
reach broader markets.

In order to proceed with the closing of its stores in an
appropriate manner, Parasuco Retail inc. has voluntarily filed
under the Bankruptcy and Insolvency Act (Canada), as its stores
have struggled in a changing retail environment.  KPMG has been
appointed as trustee in this matter.

                   About Parasuco Jeans Inc.

Founded in Montreal by Mr. Salvatore Parasuco, Parasuco Jeans Inc.
-- http://www.parasuco.com/-- offers unique design-driven premium
denim collections at unparalleled value and uncompromising quality.
As one of the most influential denim players in the industry,
Parasuco Jeans Inc. has developed an international sales
infrastructure of established showrooms, distributors, partners and
licensees.  


PRECISION MEDICAL: Kipperman Okayed as Chapter 11 Trustee
---------------------------------------------------------
The Bankruptcy Court approved the appointment of Richard M.
Kipperman as Chapter 11 trustee for Precision Medical Holding,
Inc.

The U.S. Trustee said that Mr. Kipperman's bond is initially set at
$10,000.  The bond may require adjustment as the trustee collects
funds of the estate, and the trustee is directed to inform the
Office of the U.S. Trustee when changes to the bond are required or
made.

Mr. Kipperman was named interim trustee for the Debtor on Dec. 15,
2014.

On Jan. 14, Mr. Kipperman, as interim Chapter 11 trustee,
petitioning creditors Nikolay Savchuk, Torrey Pines Precision
Medical, LLC, and American Medical Wholesale, and the Debtor agreed
that, among other things:

   1. appointment of a trustee under Section 1104 of the Bankruptcy
Code is appropriate now that the order for relief has been issued;
and

   2. the parties agree for the trustee to continue to operate as a
trustee under the same terms and with the same rights,
responsibilities, and powers set forth by the Court's previous
orders.

                           About PMH

Torrey Pines Precision Medical, LLC, Nikolay Savchuk, and American
Medical Wholesale, which are collectively owed $3.7 million, filed
an involuntary Chapter 11 petition against Precision Medical
Holding, Inc., aka Precision Repair Network (Bankr. S.D. Cal. Case
No. 14-09522) on Dec. 8, 2014.

The Petitioning Creditors are represented by Jeffry A. Davis, Esq.,
Mintz Levin Cohn Ferris Glovsky & Popeo, in San Diego, California.



RADIOSHACK CORP: Fitch Lowers Issuer Default Rating to 'D'
----------------------------------------------------------
Fitch Ratings has downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation to 'D' from 'C' following the
company's announcement that it has filed Chapter 11. Fitch has also
affirmed the 'CCC-/RR2' rating on RadioShack's $250 million secured
term loan and has affirmed the company's senior unsecured notes
rating at 'C/RR6'.

Fitch has also withdrawn the ratings on the RadioShack's $535
million ABL facility and $50 million FILO term loan, which have
been replaced by a new $285 million debtor-in-possession facility.

RadioShack has entered into an asset purchase agreement with an
affiliate of Standard General L.P. to acquire between 1,500 and
2,400 of the company's approximately 4,000 U.S. company-owned
stores.  Standard General has an agreement in principle with Sprint
to establish a new dedicated mobility 'store within a store' in up
to 1,750 of the acquired stores.  The balance of the stores would
be closed, though other bidders could submit offers for
RadioShack's assets.

RadioShack has entered into a $285 million debtor-in-possession
financing from its current ABL lender group, led by DW Partners,
L.P.  This facility includes a roll-up of the company's prepetition
revolver, letters of credit and FILO term loan.

The ratings on the various securities reflect Fitch's recovery
analysis, which is based on a liquidation value of RadioShack in a
distressed scenario of $500 million as of Nov. 1, 2014.  Most of
the value comes from inventories, half of which are assumed to be
mobile phones which are assigned a liquidation value of 80%, and
the balance is other inventories at a liquidation value of 60%.
Fitch uses a liquidation value of 30% for receivables to reflect
the netting out of estimated payables to the wireless carriers.

The $250 million secured term loan has superior recovery prospects
(71% - 90%) and a rating of 'CCC-/RR2'.  This loan is secured by a
second lien on current assets and a first lien on fixed assets,
intellectual property and equity interests in subsidiaries.  Fitch
expects that the loan could have a recovery at the high end of the
range given the value of the underlying collateral.

The $325 million of senior unsecured notes due in May 2019 are
rated 'C/RR6', reflecting poor recovery prospects (0% - 10%).

Fitch has taken these rating actions:

RadioShack Corporation

   -- Long-term IDR downgraded to 'D' from 'C';
   -- $250 million secured term loan affirmed at 'CCC-/RR2';
   -- Senior unsecured notes affirmed at 'C/RR6'.

Fitch has withdrawn these ratings:

   -- $535 million senior secured ABL revolver rated 'CCC/RR1';
   -- $50 million senior secured ABL term loan rated 'CCC/RR1'.



RADIOSHACK CORP: Moody's Cuts Prob. of Default Rating to D-PD
-------------------------------------------------------------
Moody's Investors Service downgraded RadioShack Corporation's
Probability of Default Rating to D-PD from Caa2-PD. The downgrade
was prompted by RadioShack's February 5, 2015 announcement that it
entered Chapter 11 in the United States Bankruptcy Court.

Ratings Rationale

Subsequent to the actions, Moody's will withdraw the ratings
because RadioShack has entered bankruptcy.

The following ratings were downgraded and will be withdrawn:

Corporate Family Rating to Ca from Caa2

Probability of Default Rating to D-PD from Caa2-PD

$325 million senior unsecured notes due May 2019 to C (LGD 5) from
Caa3 (LGD 5)

Speculative Grade Liquidity rating to SGL-4 from SGL-3

Outlook changed to Stable from Negative

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

RadioShack is a retailer of consumer electronics and peripherals,
as well as a retailer of cellular phones. It operates roughly 4,469
stores in the U.S. and Mexico. The company also generates sales
through a network of 876 dealer outlets worldwide.



RADIOSHACK CORP: Retains A&G Realty to Manage Sale of Store Leases
------------------------------------------------------------------
A&G Realty Partners, a commercial real estate, advisory and
investment group, on Feb. 9 disclosed that it has been retained by
RadioShack to manage the sale of retail store leases and warehouses
following the company's recent Chapter 11 bankruptcy filing.

A&G Realty is currently accepting bids on the leases, which range
from 1,200 to 5,300 square feet located in many of the major retail
markets in the country including prestigious locations in NYC,
Chicago, Los Angeles, Dallas, Puerto Rico and Miami. For a complete
list of stores visit:

       http://www.agrealtypartners.com/radioshack-search

"The company has done a great job with their real estate and are
well positioned in key retail street, strip and mall locations. By
taking assignment of leases, retailers have the opportunity to
enter new markets and gain access to projects they may have
previously been unable to penetrate.  The availability of these
leases is expected to attract interest from many national and local
retailers," said Andy Graiser, A&G Co-President.

"We expect store closing sales to move very quickly and there will
be several waves of store closures.  It is important for interested
parties to move quickly on submitting offers for leases before the
store closes," said Mr. Graiser.

                   About A&G Realty Partners

A&G Realty Partners -- http://www.agrealtypartners.com--
specializes in real estate dispositions, lease restructurings,
facilitating growth opportunities, valuations and acquisitions.
A&G Realty clients include some of the nation's most recognizable
retail brands in healthy and distressed situations.  A&G Realty was
founded in 2012 and headquartered in New York with offices in
Chicago and Los Angeles.

                   About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of 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 Corporation and 17 of its affiliates filed Chapter 11
petitions (Lead Case No. 15-10197) on Feb. 5, 2015.  Joseph C.
Maggnacca signed the petition as chief executive officer.  Judge
Kevin J. Carey presides over the cases.  The Debtors disclosed
total asssets of $1.2 billion and total debts of $1.3 billion.

Jone Day and Pepper Hamilton LLP represent the Debtors as counsel.
FTI Consulting, Inc., serves as the Debtors' restructuring
advisors.  Maeva Group, Inc. acts as the Debtors' turnaround
advisor.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  A&G Realty Partners serves as the Debtors' real estate
advisor.  Prime Clerk acts as the Debtors' claims and noticing
agent.


RADIOSHACK CORP: S&P Lowers CCR to 'D' on Bankruptcy Filing
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on the Fort Worth, Texas-based RadioShack Corp. to 'D' from
'CCC-'.  S&P also lowered all issue-level ratings on the company's
debt issues to 'D'.  The recovery ratings on the company's debt
issues remain unchanged.  The recovery rating on the company's
senior unsecured notes remains a '6', indicating S&P's expectation
of negligible (0-10%) recovery of principal.

The ratings action follows the company's filing of a petition under
Chapter 11of the U.S. Bankruptcy Code.

The 'D' rating on RadioShack reflects the company's default due to
its filing voluntary petitions for Chapter 11 bankruptcy
protection.  As part of the process, the company has signed a
purchase agreement to sell 1,500 and 2,400 stores to General
Wireless Inc. (an affiliate of Standard General L.P., which,
through other affiliates, is a lender to the RadioShack Corp.).
General Wireless has agreed in principal with Sprint to create a
"store within a store".  The company expects to close its remaining
store base.



RENEWABLE ENERGY: Turner Stone Expresses Going Concern Doubt
------------------------------------------------------------
Renewable Energy and Power, Inc., filed with the U.S. Securities
and Exchange Commission on Feb. 5, 2015, its annual report on Form
10-K for the fiscal year ended Sept. 30, 2014.

Turner, Stone & Company, L.L.P., expressed substantial doubt about
the Company's ability to continue as a going concern, citing that
the Company has limited revenues and has a working capital
deficiency.

The Company reported a net loss of $341,000 on $603,800 of revenues
for the fiscal year ended Sept. 30, 2014, compared to a net loss of
$213,000 on $327,000 of revenues in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.83 million
in total assets, $1.51 million in total liabilities, and
stockholders' equity of $319,000.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/UTr7dU
                          
Renewable Energy and Power provides renewable energy that is
competitive with fossil fuels by employing proprietary new
technologies, and combining them with existing solar and wind power
generation and LED lighting.


RIVER CITY: Hearing Today on Continued Use of Cash Collateral
-------------------------------------------------------------
The Bankruptcy Court will convene a hearing today, Feb. 10, 2015,
at 10:00 a.m., to consider River City Renaissance, LC, and River
City Renaissance III, LC's continued use of cash collateral.

The Debtor, in an amended motion, is requesting for an interim
access to cash collateral, in relation to the closing or
consummation of the sales of assets.  The Debtors related that use
of cash collateral will fund their operations, well as assure a
smooth transition of ownership with minimal to no detrimental
effect on the residential tenants at the properties.

The Debtors assured that the holders remain adequately protected by
virtue of continuing, periodic cash payments and the equity
cushions that exist in the properties as of the Petition Date.

U.S. Bank National Association, as trustee, successor-in-interest
to Bank of America, N.A., as trustee, successor to Wells Fargo
Bank, N.A., as trustee for the registered holders of Wachovia Bank
Commercial Mortgage Trust, Commercial Mortgage Pass-Through
Certificates, Series 2005-C22 and U.S. Bank National Association,
as trustee, successor-in-interest to Bank of America, N.A., as
trustee, successor to Wells Fargo Bank, N.A., as trustee for the
registered holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2006-C23,
solely in its capacity as Special Servicer for the respective
trusts, filed a limited objection to Debtors' amended motion,
stating that the holders have disagreed with the premise since the
filing of the bankruptcy cases.

                   About River City Renaissance

Richmond, Virginia-based, River City Renaissance, LC, and River
City Renaissance III, LC, sought Chapter 11 protection (Bankr.
E.D. Va. Case Nos. 14-34080 and 14-34081) in Richmond, Virginia,
on July 30, 2014.  The cases are assigned to Judge Keith L.
Phillips.  Robert H. Chappell, III, Esq., at Spotts Fain PC,
represents the Debtors in their cases.  River City Renaissance LC
disclosed $27.3 million in assets and $29.2 million in liabilities
as of the Chapter 11 filing.  Renaissance III estimated less than
$10 million in assets and debts.  The Debtors have tapped Spotts
Fain PC as counsel.



ROADRUNNER ENTERPRISES: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Roadrunner Enterprises, Inc.
           dba Roadrunner Quick Stop
           dba Roadrunner Camping
           dba Roadrunner Enterprises
           dba Roadrunner Paving
           dba New Millenium Builders
        13900 Jefferson Davis Highway
        Chester, VA 23831

Case No.: 15-30604

Chapter 11 Petition Date: February 6, 2015

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

Judge: Hon. Kevin R. Huennekens

Debtor's Counsel: David K. Spiro, Esq.
                  HIRSCHLER FLEISCHER, P.C.
                  Post Office Box 500
                  Richmond, VA 23218-0500
                  Tel: (804) 771-9500
                  Fax: (804) 644-0957
                  Email: dspiro@hf-law.com
                         rmcburney@hf-law.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Carl Adenauer, president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Towne Bank                                             $829,500
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $791,856
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Towne Bank                                             $829,500
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

George Dimirack                                        $450,000
411 Lilliston Ave
Colonial Heights, VA 23834

EVB                                                    $169,479
Attn: Joe A. Shearin, CEO
307 Church Lane
Tappahannock, VA 22560

Bank of McKenney                                       $187,668
Attn: Richard M. Liles, CEO
20701 First Street
Mc Kenney, VA 23872

Bank of McKenney                                       $187,668
Attn: Richard M. Liles, CEO
20701 First Street
Mc Kenney, VA 23872

Bank of McKenney                                       $187,668
Attn: Richard M. Liles, CEO
20701 First Street
Mc Kenney, VA 23872

Wells Fargo Business Credit                            $105,814
WF Business Direct
PO Box 348750
Sacramento, CA 95834

EVB                                                     $88,463
Attn: Joe A. Shearin, CEO
307 Church Lane
Tappahannock, VA 22560

Towne Bank                                              $75,808
Attn: G. Robert Aston, Jr., CEO
5716 High Street
Portsmouth, VA 23703

Bank of Southside Virginia                             $174,627
Attn: Peter Clements, CEO
17208 Halligan Park Rd.

Carson, VA 23830

Peter Loy                                               $50,000
530 Eastwind Ct
Colonial Heights, VA 23834

Peter Loy                                               $50,000
530 Eastwind Ct
Colonial Heights, VA 23834


ROCKLIN ACADEMY: S&P Revises Outlook & Affirms 'BB+' Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its 'BB+' rating on California Statewide
Communities Development Authority's charter school revenue bonds,
series 2011A and taxable series 2011B, issued for Rocklin Academy
(TRA).

"The outlook revision reflects the school's improved liquidity
position and two consecutive years of operating surpluses on a
full-accrual basis," said Standard & Poor's credit analyst Luke
Gildner.  "The stable outlook also reflects TRA's solid demand
characteristics that support the achievability of the school's
growth plans."  Factors restraining the rating are very high pro
forma lease adjusted maximum annual debt service (MADS) burden and
pro form lease adjusted MADS coverage of less than 1x in fiscal
2014 as the school expands to a fourth campus.

TRA opened its fourth public charter school in fall 2014.  The
schools are located in Rocklin, which is situated in Placer County
in Northern California, approximately 23 miles east of Sacramento.
The Rocklin Academy received its first charter in 2000, and its
first school opened in 2001.  Combined enrollment in fall 2014 was
2083 for kindergarten through 12th grade (K-12) with a combined
wait list of more than 1,400, primarily in grades K-5.

TRA used bond proceeds to purchase property and make capital
improvements on land and a building where the new high school
campus is now located.  Improvements included the refurbishment of
the existing space consisting of 19 core classrooms, four science
classrooms (including two laboratories), and other space that
supports up to 730 students.  The project was completed in two
phases.  The first phase, completed in August 2011, and the second
phase concluded in early 2012.  In addition, proceeds refunded
$200,000 of an outstanding loan.

The 30-year bonds are a general obligation of the TRA, and most of
the debt is tax exempt.  The bonds are also secured by a deed of
trust.

The stable outlook reflects S&P's view that TRA's operations,
liquidity, and enrollment will continue to improve.  S&P could
consider taking a negative rating action if days' cash on hand
drops to less than 30 days or if MADS coverage does not continue to
improve.  S&P would view the issuance of additional debt without a
commensurate growth in resources negatively.  While unlikely, S&P
could raise the rating if the school's operations consistently
generate pro form lease adjusted MADS coverage in excess of 1.3x
and the cash position increases to 100 days'.



ROYAL MANOR: Grossman Loses Two Appeals Before 6th Circuit BAP
--------------------------------------------------------------
The United States Bankruptcy Appellate Panel, Sixth Circuit, heard
two related appeals over monetary sanctions and post-judgment
efforts to collect those sanctions arising out of an attorney's
representation of claimants who filed a $2,142,000 non-priority
unsecured proof of claim in jointly administered Chapter 11
bankruptcy cases of Royal Manor Management, Inc.

The claim was disallowed by the bankruptcy court, with that
decision being affirmed by both the District Court for the Northern
District of Ohio and the Sixth Circuit Court of Appeals.  As a
result of the multitude of filings, strategies employed and
positions taken over a six-year period, the bankruptcy court
sanctioned the attorney, Dennis Grossman, the sum of $207,004
pursuant to 28 U.S.C. Sec. 1927 and the court's inherent authority
under 11 U.S.C. Sec. 105, representing the attorney fees expended
by counsel for the Official Committee of Unsecured Creditors and,
post-confirmation, the Liquidation Trustee and his counsel,
directly or indirectly related to the claim litigation.

Grossman appeals the orders sanctioning him. He also appeals an
order denying a motion which sought the recusal of the Bankruptcy
Judge pursuant to 28 U.S.C. Sec. 455.

In a separate appeal, Grossman challenges the retention of special
counsel to collect the judgment against him and also an order
requiring him to submit to a debtor's examination and provide
written discovery.

Both bankruptcy court orders are affirmed, according to Bankruptcy
Appellate Panel Judge Guy R. Humphrey, who penned the Feb. 5, 2015
Opinion, a copy of which is available at http://bit.ly/1zOB3Jnfrom
Leagle.com.

Royal Manor Management, Inc., headquartered in Brunswick, Ohio,
filed for Chapter 11 bankruptcy (Bankr. N.D. Ohio Case No.
08-50421) on Feb. 12, 2008.  Judge Marilyn Shea-Stonum presides
over the case.  Mark Schlachet, Esq., serves as Royal Manor's
bankruptcy counsel.  It disclosed $7,357 in assets and $15,066,772
in liabilities.


SABRE INDUSTRIES: Moody's Affirms 'B3' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service affirmed Sabre Industries, Inc.'s B3
Corporate Family Rating (CFR) and B3-PD Probability of Default
Rating (PDR). The action follows Sabre's agreement to acquire FWT,
LLC (FWT), a Texas-based designer and manufacturer of steel
structures for the electric transmission & distribution (T&D)
market. At the same time, B2 ratings were assigned to a proposed
$255 million first-lien term loan and $65 million revolving credit
facility. The rating outlook remains stable.

Moody's existing instrument ratings on Sabre (secured term loan and
revolving credit, B2, LGD-3), a manufacturer of engineered towers
and poles used in T &D as well as wireless communication
infrastructure and provider of related services, are unchanged and
will be withdrawn upon closing of the new facilities. Other sources
of funds include incremental equity from sponsor Kohlberg & Company
(Kohlberg) and $105 million in unsecured mezzanine notes (unrated).
Combined proceeds will be used to pay-off Sabre's existing debt and
purchase FWT.

Ratings Rationale

The addition of FWT improves Sabre's scale and market position in
the T&D sector, diversifies its customer and geographic footprint
and elevates the proportion of revenues realized through Alliance
partnerships (long-term master supply agreements). Furthermore, FWT
has historically generated higher margins than Sabre, which will
lift consolidated margins.

Sabre's B3 CFR incorporates the Company's relatively thin margins,
elevated leverage and track record of negligible free cash flow.
The combination of Sabre and FWT offers modest near-term synergies
and creates profitable, longer-term growth opportunities but will
also require some up-front outlays. Although Sabre's debt burden is
increasing, incremental capital from Kohlberg helps solidify equity
cushion in the capital structure.

Sabre should continue to benefit from barriers to entry across its
niche markets -- substantial upfront investment as well as the fact
that customers tend to be reluctant to switch providers once a
track record of quality and execution are established. Although
orders are project driven and subject to cyclical trends, both the
electric T&D and wireless communications industries have favorable
long-term prospects. Years of under-investment has created the need
to upgrade an aging T&D infrastructure and the rapid rise in usage
of smartphones and other wireless devices has created the ongoing
need for infrastructure to provide greater data capacity.

Sabre's performance has fallen short of previous expectations from
a combination of an increasingly competitive pricing environment
and higher facility start-up and integration costs but has shown
improving trends of late. Sabre has not realized positive free cash
flow over the last three fiscal years on a cumulative basis. Cash
flow generation should improve as growth-related expenditures are
largely complete and capital investment should return to a more
manageable run-rate in fiscal year 2016.

The stable outlook anticipates modest revenue growth over the
rating horizon and assumes volumes should at least sustain current
margins and is premised upon firmer prospects for material free
cash flow. Liquidity is adequate and supported by availability
under a $65 million committed revolving credit facility that will
be undrawn at transaction closing.

Lower ratings or a negative outlook could develop if debt/EBITDA
exceeded 6 times as a result of lower profitability or incurring
additional debt, EBITA/interest fell below 1.25 times or if free
cash flow remained negative. Developments that could lead to
stronger ratings or a positive outlook include realizing stronger
operating margins, lowering debt/EBITDA below 5 times combined with
EBITA/interest coverage materially above 1.5 times and free cash
flow/debt consistently above 5%.

Ratings affirmed:

Corporate Family, B3

Probability of Default, B3-PD

Ratings assigned with Loss Given Default Assessments:

$255 million secured term loan, B2 (LGD-3)

$65 million secured revolving credit facility, B2 (LGD-3)

Ratings to be withdrawn at transaction close:

$158 million first lien term loans B2 (LGD-3)

$80 million first lien revolving credit facility B2 (LGD-3)

Rating Outlook:

Stable

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014. Other methodologies
used include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Sabre Industries, Inc., headquartered in Alvarado, TX, manufactures
towers, poles, shelters and related transmission structures used in
the wireless communications and electric transmission and
distribution industries. Annual revenues for fiscal 2014 (4/30 FYE)
were approximately $700 million.



SAMUEL WYLY: IRS Says Widow's Tax Liability Will Surpass $280MM
---------------------------------------------------------------
Law360 reported that the U.S. Internal Revenue Service told a Texas
bankruptcy court that the widow of a real estate tycoon found
guilty of securities fraud likely owes "well in excess" of $280
million in total outstanding taxes, but that Caroline Dee Wyly
cannot have the court determine the tax liability of her late
husband's estate.  According to the report, the IRS said the
bankruptcy court lacks the jurisdiction to grant Dee Wyly's motion
to determine the tax liability since the probate estate is not the
debtor in the case.

                         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).


SARALAND LLLP: Judge Tosses Appeal From Denial to Continue Hearing
------------------------------------------------------------------
Judge Dudley H. Bowen of the U.S. District Court for the Southern
District of Georgia, Dublin Division, dismissed for failure to
prosecute an appeal filed by Lister W. Harrell on July 16, 2014,
pertaining to debtor Saraland, LLLP.  The appellate case is titled
In re Saraland, LLLP, Case No. 314-091.

Mr. Harrell is a general partner of the Debtor.  He is appealing
the Bankruptcy Court's Order of June 27, 2014, which denied his
motion to continue a hearing.

Judge Bowen opines that the appeal was deficient in several
respects, particularly in its failure to substantially conform to
the appropriate Official Form for a notice of appeal and in the
failure to pay the $298 filing fee.  Judge Bowen explains that Mr.
Harrell was given seven days to cure the noted deficiencies but he
failed to do so.

A full-text copy of the December 9, 2014 Order is available at
http://bit.ly/1vB1YKqfrom Leagle.com.

Saraland, LLLP, filed for Chapter 11 bankruptcy (Bankr. S.D. Ga.
Case No. 12-30113) in Dublin, on March 29, 2012.


SCRUB ISLAND: Court Denies FirstBank PR's Bid to Excuse Receiver
----------------------------------------------------------------
The U.S. Bankruptcy Court, in an amended order, denied FirstBank
Puerto Rico's motion to excuse receiver from compliance with
Section 543 of the Bankruptcy Code.

On Dec. 30, 2014, the Court considered the confirmation of the
Scrub Island Development Group Limited, et al.' First Amended Joint
Plan, as modified, and the motion of FirstBank PR.

The Court also ordered that The BVI Receiver will comply with the
terms of the confirmed Plan and the confirmation order entered in
the cases.

                         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.



SCRUB ISLAND: FirstBank's Collateral Valued at $37.2 Million
------------------------------------------------------------
The U.S. Bankruptcy court determined that the value of FirstBank's
Collateral is $37.2 million, subject to any relief that may be
accorded to Scrub Island Development Group Limited, et al., in the
Lender Liability Action.  The Court also ordered that FirstBank
will have allowed secured claims of $37.2 million in the cases.

As reported in the TCR on Sept. 22, 2014, the Debtors asked the
Court to establish the valuation of FirstBank's collateral in order
to fix the amount of FirstBank's secured claim to be paid under
FirstBank Option B of the Debtors' First Amended Joint Plan of
Reorganization.

FirstBank Puerto Rico is a commercial banking institution
incorporated under the laws of the Commonwealth of Puerto Rico.
In the proofs of claim filed in these cases, FirstBank has
asserted that, as of the Petition Date, (a) SIDG was indebted to
FirstBank in an aggregate amount of $119 million, (b) SICL was
indebted to FirstBank in an aggregate amount of $3.20 million, and
(c) FirstBank was secured by properly perfected liens on certain
real property and personal property of the Debtors located in the
British Virgin Islands.

The Debtors' Plan proposes two treatments for the FirstBank secured
claims, to the extent allowed.  One plan treatment contemplates
payment of the allowed secured claim of FirstBank based on the
value of the Collateral as determined by the Court.

The Debtors estimate that the value of the Collateral is not more
than $40 million.  The estimated secured value of the Collateral
is based on the Debtors' books and records, its knowledge of the
Collateral, statements by FirstBank, and previous appraisals
obtained by FirstBank.  Additionally, FirstBank executed a term
sheet accepting $37.5 million, including a financing component,
during the pendency of the Chapter 11 cases.

The Debtors have retained an independent valuation report for the
Collateral.  This valuation is proposed for purposes of
establishing the secured claims of FirstBank with respect to the
Collateral for purposes of confirmation of the Plan.

                         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.



SEA LAUNCH: Satellite JV Partner Drops Some Claims in Boeing Suit
-----------------------------------------------------------------
Law360 reported that the Norwegian partner in a satellite launching
joint venture funded by Boeing Co. dropped its intervening claims
against the Ukrainian partner in a $350 million lawsuit brought by
Boeing over the Ukrainian and Russian partners' failure to repay
loans when the venture went bankrupt, according to a California
federal court.

The report related that Old Kvaerner Invest AS, which owned 20
percent of the "Sea Launch Co." venture, dropped its breach of
contract claims against satellite and rocket designers KB Yuzhnoye
and development and manufacturing company PO Yuzhnoye.

Energia Logistics Ltd., the Russian partner in failed satellite
venture Sea Launch, accused Boeing of failing to produce all of the
launch contracts that would allegedly prove Boeing had contributed
to the venture's bankruptcy, which has led to a $350 million
contract dispute in California federal court, Law360 further
related.  Energia's status conference report contends that during
discovery, former managing venture partner Boeing produced only one
of multiple launch-related contracts with the U.S. government and
an incomplete list of prices, the report added.

As previously reported by the TCR, Boeing hit its Russian and
Ukrainian Sea Launch joint venture partners with a lawsuit accusing
them of skipping out on more than $350 million they are allegedly
on the hook for over the failure of a commercial satellite
launching company that went bankrupt in 2009.

In a complaint filed in California federal court, the Chicago-
based aerospace giant says its Russia-based partner S.P. Korolev
Rocket and Space Corp. Energia and Ukrainian partner KB Yuzhnoye
refused to carry out their obligations under their joint venture
agreement.

The case is The Boeing Company et al v. KB Yuzhnoye et al, Case No.
2:13-cv-00730 (C.D. Cal.), before Judge Andre Birotte, Jr.

                        About Sea Launch

Sea Launch Company, L.L.C., is a satellite-launch services
provider that offers commercial space launch capabilities from the
Baikonur Space Center in Kazakhstan.  Its owners include Boeing
Co., RSC Energia, and Aker ASA.

Sea Launch filed for Chapter 11 protection (Bankr. D. Del.
Case No. 09-12153) on June 22, 2009.  Joel A. Waite, Esq., and
Kenneth J. Enos, Esq., at Young, Conaway, Stargatt & Taylor LLP, in
Wilmington, Delaware, serve as the Debtor's counsel.  At the time
of the filing, the Company said its assets range from
$100 million to $500 million and debts are at least $1 billion.

Sea Launch Company has successfully completed its Chapter 11
reorganization process, effective Oct. 27, 2010.  As part of the
court-approved Plan of Reorganization, Energia Overseas Limited
(EOL), a Russian corporation, will have acquired a majority
ownership of the reorganized Sea Launch entity.

The Plan of Reorganization was approved by Judge Brendan Shannon,
in the U.S. Bankruptcy Court in Wilmington, Delaware, on July 27,
2010.  The successor entity, Sea Launch S.a.r.l., will be
responsible for corporate functions at its operations headquarters
and will maintain some assets at Sea Launch Home Port, in the Port
of Long Beach, in Southern California.



SEVEN COUNTIES: District Court Won't Stay Plan Approval Order
-------------------------------------------------------------
District Judge David J. Hale in Louisville, Kentucky, denied the
request of the Kentucky Employees Retirement System and the Board
of Trustees of the Kentucky Retirement Systems to stay the Jan. 6,
2015 orders of the Bankruptcy Court for the Western District of
Kentucky confirming Seven Counties Services, Inc.'s Chapter 11 Plan
of Reorganization.

KERS argue that the reorganization plan should not be allowed to go
into effect until the Court has resolved their appeals of the
confirmation orders and the bankruptcy court's May 30, 2014
opinion.  Because KERS failed to show that they are likely to
prevail on the merits of their appeals or to suffer irreparable
harm if a stay is not granted, the motion to stay will be denied,
the Court said.

Three appeals involving KERS and Seven Counties are currently
before the District Court: the appeal of the confirmation orders,
KERS's appeal of the May 30 opinion, and Seven Counties'
cross-appeal of the May 30 opinion.

In the May 30 opinion, which was issued following a seven-day trial
of the competing adversary proceedings filed by Seven Counties and
KERS, the bankruptcy court concluded:

     (1) that Seven Counties is not a "governmental unit" and
therefore is a "person" qualifying for relief under Chapter 11 of
the Bankruptcy Code;

     (2) that KERS were not entitled to a permanent injunction
requiring Seven Counties to continue making contributions to the
retirement system; and

     (3) that the relationship between KERS and Seven Counties is
contractual and that the contract is executory, meaning that Seven
Counties may reject it under 11 U.S.C. Sec. 365.

A copy of the District Court's Feb. 4 Memorandum Opinion and Order
is available at http://bit.ly/1zoB4Affrom Leagle.com.

                     About Seven Counties

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

The petition was signed by Anthony M. Zipple as president/CEO.
The Debtor scheduled assets of $45.6 million and scheduled
liabilities of $233 million.

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

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

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


SHELL POINT: S&P Raises Rating on Revenue Debt From 'BB+'
---------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on Lee County
Industrial Development Authority, Fla.'s revenue debt, issued for
Shell Point Village, one notch to 'BBB-' from 'BB+'.  The outlook
is stable.

The upgrade reflects Standard & Poor's opinion of several fiscal
years of very solid operating performance generating improved debt
service coverage more in-line with the higher rating, very strong
demand across the continuum, and continued unrestricted reserve
growth.  The upgrade also incorporates Standard & Poor's opinion
that management will likely continue to generate strong operational
results over the next several fiscal years based on projections
while it continues to grow the balance sheet, coupled with the
successful completion of the estuary project.

"We could raise the rating over the outlook's two-year period if
management were to maintain operating performance at current levels
while incrementally growing the balance sheet with the
unrestricted-reserves-to-long-term-debt ratio exceeding 60% and
days' cash on hand exceeding 400 days', which management has
committed to maintaining over the long term," said Standard &
Poor's credit analyst Margaret McNamara.  "We could lower the
rating or revise the outlook to negative if operating performance
were to deteriorate significantly, resulting in a decrease in debt
service coverage of less than 2x; if liquidity were to decrease
with days' cash on hand decreasing below 250 days'; or if the
village were to fail to complete the estuary project."

The stable outlook reflects Standard & Poor's opinion of Shell
Point's solid and consistent operating performance over the past
several fiscal years, coupled with very strong demand, management
that has shown its commitment to the organization, and maintenance
of strong operating results.

The obligated group's revenue pledge, debt service reserve fund,
and mortgages secure the bonds.  The obligated group includes Shell
Point and Alliance, a retirement community in Deland that has a
common governance structure with Shell Point.



SKYLINE MANOR: Trustee Wants DHHS Barred from Recapture Claim
-------------------------------------------------------------
Ron Ross, Chapter 11 trustee for Skyline Manor, Inc., asks the
Bankruptcy Court to reconsider, alter, or amend its order dated
Dec. 17, 2014; and hold that the State of Nebraska, Department of
Health and Human Services is not entitled to collect its recapture
claim from the indemnification trust fund.

The Trustee asserts that the Court's order is incorrect and
contrary to the well-established law for three reasons:

   1) it holds, in effect, that Section 363(f)(5) requires an
interest holder to be paid in full in order for approval of a sale
free and clear of that interest, resulting in disregard of the
Bankruptcy Code's priority scheme;

   2) it indicates that DHHS' Recapture Claim arises due to
rejection of an executory contract; and

   3) it results in misuse of the Indemnity Trust Fund.

The Court determined that DHHS is entitled to collect its
depreciation recapture under state law from the indemnification
fund established or to be established as a result of the sale
of the Debtor's property and the change in the provider at the
facility.

The Trustee sought to sell the facility -- a retirement community
in Omaha, Nebraska, consisting of a continuing care facility, a
skilled nursing and rehabilitation center, and a personal care
center -- to Menomonee Health Holdings LLC.

DHHS objected to the proposed sale, asserting that DHHS must be
paid $373,000 in recaptured depreciation from the sale proceeds on
the grounds that the right to recapture depreciation is not an
interest in the property to be sold.

In the alternative, DHHS argued that if that depreciation is not
recaptured, the buyer must be assigned a lower basis cost for the
facilities purchased, which is part of the calculation of per diem
payments.  DHHS also maintains that Skyline cannot assign its
Medicaid provider agreement to Menomonee in the context of the
property sale because sovereign immunity prevents the Bankruptcy
Code from impinging upon state law requirements applicable to DHHS'
administration of the Medicaid program and the licensing of health
care facilities.

The trustee is represented by:

         Brandon R. Tomjack, Esq.
         T. Randall Wright, Esq.
         BAIRD HOLM LLP
         1700 Farnam St., Suite 1500
         Omaha, NE 68102-2068
         Tel: (402) 344-0500
         E-mail: rwright@bairdholm.com
                 btomjack@bairdholm.com

                       About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor disclosed $19.9 million in assets and $13.7 million in
liabilities as of the Chapter 11 filing.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.



SPORTMAN'S LINK: 11th Cir. Affirms Denial of Disgorgement Motion
----------------------------------------------------------------
The United States Court of Appeals for the Eleventh Circuit affirms
the denial of Sohail Abdulla's motion for disgorgement of fees and
objection to the distribution of assets in the appellate case
styled Sportman's Link, Inc., Plaintiff v. Klosinski Overstreet,
LLP, Defendant-Appellee, Sohail Abdulla, Interested
Party-Appellant, Case No. 14-12606.

The Eleventh Circuit concludes that Mr. Abdulla has abandoned any
challenge that he might have made to the denial of his request for
the disgorgement of fees.  The Eleventh Circuit adds that he lacks
standing to request a special investigation about Klosinski's
representation of Sportsman's.

Mr. Abdulla appeals pro se the denial of his motion for
disgorgement of fees and objection to the distribution of assets to
Klosinski Overstreet, LLP, for its legal representation of his
former business, Sportsman's Link, Inc., during its bankruptcy
proceeding.

Sportsman's retained Klosinski to assist in filing a petition for
bankruptcy under Chapter 11, and Mr. Abdulla paid Klosinski a
$20,000 retainer.  Later, Sportsman's petition was converted to a
Chapter 7 petition, and the Chapter 7 Trustee retained Klosinski as
special counsel to pursue preference and fraudulent transfer
actions for the Sportsman's estate.  Klosinski filed 23 adversary
proceedings and recovered more than $500,000 for the estate.

In July 2011, Sportsman's, through counsel, filed an adversary
proceeding against Klosinski for legal malpractice and breach of
its fiduciary duties.  The Chapter 7 Trustee filed an application
to compromise the controversy for $20,000.  Sportsman's objected
and argued that Klosinski's failure to disclose its connections to
two creditors, Georgia Bank & Trust Company of Augusta and Fairway
Ford of Augusta, Inc., violated Ruled 2014(a) of the Federal Rules
of Bankruptcy Procedure, and should result in a disgorgement of
fees related to those collections.

A full-text copy of the Opinion dated December 10, 2014, is
available at http://bit.ly/1zzhzcXfrom Leagle.com.

Sportman's Link, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Ga. Case No. 07-bkc-10454) on March 13, 2007.  The
case was converted to Chapter 7 on July 22, 2008.


SPRINT CORP: S&P Lowers CCR to 'B+' on Weak Financial Performance
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
corporate credit rating on Overland Park, Kan.-based wireless
carrier Sprint Corp. and its subsidiaries to 'B+' from 'BB-'.  The
rating outlook is negative.

At the same time, S&P lowered its issue-level ratings on Sprint's
guaranteed notes and revolving credit facility to 'BB' (two notches
above the corporate credit rating) from 'BB+'.  The '1' recovery
rating remains unchanged, which indicates S&P's expectation for
very high recovery (90%-100%) in the event of payment default.

S&P also lowered its issue-level ratings on Sprint's EKN credit
facility and the debt at the wholly owned Clearwire subsidiary to
'BB' from 'BB+'.  The '1' recovery rating remains unchanged,
indicating S&P's expectation for very high recovery (90%-100%) in
the event of payment default.

In addition, S&P lowered its issue-level ratings on Sprint's senior
unsecured debt issues that are not guaranteed by its subsidiaries
to 'B+' from 'BB-'.  The '3' recovery rating remains unchanged, and
indicates S&P's expectation for meaningful recovery (50%-70%) in
the event of payment default.

"The downgrade reflects our expectation that Sprint will be
challenged to meaningfully improve its operating and financial
performance in 2015 and 2016 because of aggressive price-based
competition in the U.S. wireless market, network performance
issues, and Sprint's high cost structure, which is particularly
important in a maturing wireless industry," said Standard & Poor's
credit analyst Allyn Arden.

"The negative outlook reflects our view that poor brand recognition
and aggressive competition from other wireless carriers will
continue to pressure Sprint's post-paid customer base over the next
year," said Mr. Arden.  "Additionally, this will likely result in
even weaker profitability -- even if the company is able to
increase post-paid customers -- that could exacerbate FOCF deficits
over the next year.

S&P could lower the rating if competitive pressures result in
continued elevated churn and pricing pressure, such that Sprint is
unable to profitably grow its subscriber base over the next year
and leverage rises to the 6.5x area.  S&P could also lower the
rating if the company is unable to fund FOCF deficits, which could
pressure liquidity, depending on any mitigating actions SoftBank
takes to bolster Sprint's liquidity.

S&P could revise the outlook to stable if Sprint performs better
than S&P assumes in its base-case scenario.  This includes positive
post-paid customer growth and margin expansion.  An upgrade is
unlikely over the next few years and would require the company to
receive additional equity infusions from its parent, SoftBank, to
fund FOCF deficits and if leverage were to decline to below 5x on a
sustained basis.



STANFORD GROUP: Chadbourne Says Malpractice Suit is Time-Barred
---------------------------------------------------------------
Law360 reported that Chadbourne & Parke told a Texas federal judge
that the Stanford Financial Group receiver's quest to pin
malpractice claims on them related to billionaire Robert Allen
Stanford's alleged $7 billion Ponzi scheme was "to no avail"
because New York law and the statute of limitations bar the
claims.

According to the report, the law firm said there was no legal basis
for allowing Ralph Janvey to sue them for malpractice.

The case is Janvey et al v. Proskauer Rose LLP et al, Case No.
3:13-cv-00477 (N.D. Tex.), before Judge David C. Godbey.

                       About Stanford Group

The Stanford Financial Group was a privately held international
group of financial services companies controlled by Allen
Stanford, until it was seized by United States (U.S.) authorities
in early 2009.

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of  
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under
management or advisement.  Stanford Private Wealth Management
served more than 70,000 clients in 140 countries.

On Feb. 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and
records of Stanford International Bank, Ltd., Stanford Group
Company, Stanford Capital Management, LLC, Robert Allen Stanford,
James M. Davis and Laura Pendergest-Holt and of all entities they
own or control.  The February 16 order, as amended March 12,
2009, directs the Receiver to, among other things, take control
and possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The case in district court was Securities and Exchange Commission
v. Securities Investor Protection Corp., 11-mc-00678, U.S.
District Court, District of Columbia (Washington).

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not
guilty to 21 charges of multi-billion dollar fraud, money-
laundering and obstruction of justice.  Assistant Attorney
General Lanny Breuer, as cited by Agence France-Presse News, said
in a 57-page indictment that Mr. Stanford could face up to 250
years in prison if convicted on all charges.  Mr. Stanford
surrendered to U.S. authorities after a warrant was issued for
his arrest on the criminal charges.


STOCKTON, CA: Court Issues Ruling on Plan, Franklin Objection
-------------------------------------------------------------
The City of Stockton, California's plan of adjustment of debts is
feasible and is in the best interests of creditors, Chief
Bankruptcy Judge Christopher N. Klein said in a lengthy decision
last week.  All other element of confirmation having been
established, the plan will be confirmed, he said.

A copy of Judge Klein's Feb. 4, 2015 Opinion regarding confirmation
and the status of CalPers is available at http://bit.ly/1ERCRWr
from Leagle.com.  The opinion supplements the Court's oral rulings
rendered in open court on Oct. 1 and 30, 2014.

Judge Klein resolved the single objection to confirmation raised by
Franklin Templeton Investments.  Franklin contends the City's
failure to modify pensions means that the plan (1) is not proposed
in good faith and (2) that Franklin's unsecured claim should be
separately classified so that Franklin can be deemed to be a
separate, non-accepting class as to which the plan may be confirmed
only if, with respect to Franklin, it is fair and equitable and
does not unfairly discriminate against it.

"Although pensions may, as a matter of law, be modified by way of a
chapter 9 plan of adjustment and although a CalPERS pension serving
contract may be rejected without fear of an enforceable termination
lien, the City's choice to achieve savings in total compensation by
negotiating salary and benefit adjustments rather than pension
modification is appropriate. Total compensation, of which pensions
are a component, has been reduced. Indeed, the City's employees and
retirees have surrendered more value in this chapter 9 case than
the capital markets creditors," Judge Klein said.

The California Public Employees' Retirement System, which by
contract administers the City-sponsored pensions, says that
California law insulates its contract from rejection and that the
pensions themselves may not be adjusted. Although, it is doubtful
that CalPERS even has standing to defend the City pensions from
modification, CalPERS has bullied its way about in this case with
an iron fist insisting that it and the municipal pensions it
services are inviolable. The bully may have an iron fist, but it
also turns out to have a glass jaw, Judge Klein said.

Judge Klein said his decision determines that the obstacles
interposed by CalPERS are not effective in bankruptcy:

     1. the California statute forbidding rejection of a contract
with CalPERS in a chapter 9 case is constitutionally infirm in the
face of the exclusive power of Congress to enact uniform laws on
the subject of bankruptcy under Article I, Section 8, of the U.S.
Constitution -- the essence of which laws is the impairment of
contracts -- and of the Supremacy Clause.

     2. the $1.6 billion lien granted to CalPERS by state statute
in the event of termination of a pension administration contract is
vulnerable to avoidance in bankruptcy as a statutory lien.

     3. the Contracts Clauses of the Federal and State
Constitutions, as implemented by California's judge-made "Vested
Rights Doctrine," do not preclude contract rejection or
modification in bankruptcy.

     4. Considerations of sovereignty and sovereign immunity do not
dictate a different result.

"As a matter of law, the City's pension administration contract
with CalPERS, as well as the City-sponsored pensions themselves,
may be adjusted as part of a chapter 9 plan," Judge Klein said.
"But, when one turns to the question of plan confirmation, pensions
must be viewed as but one aspect of total compensation.
The City's plan achieves significant net reductions in total
compensation (including lower pensions for new employees and
elimination of up to $550 million in unfunded health benefits) that
employees accepted in exchange for preserving existing pensions."

All capital markets creditors, except Franklin, accepted a package
of restructured bond debt in impairments reflecting their relative
rights in collateral. Franklin did not fare as well because it took
poor collateral to support its loan.

Franklin is receiving about $4.35 million on its $36 million in
bonds that were largely unsecured.

"While that is unfortunate for Franklin, it reflects the bargain
that Franklin made and the risk that it undertook. Its 12 percent
overall return is not so paltry or unfair as to undermine the
legitimacy of classification in the plan or the good faith of the
plan proponent," Judge Klein said.

Michael J. Gearin, Esq., at K&L Gates LLP, represents California
Public Employees' Retirement System.

James O. Johnston, Esq., at Jones Day, represents Franklin High
Yield Tax-Free Income Fund and Franklin California High Yield
Municipal Fund.

                     About Stockton, Calif.

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

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

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

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

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

Judge Klein, in late October 2014, confirmed the debt-adjustment
plan by the city of Stockton, rejecting arguments that it unfairly
discriminated among creditors by chopping a mutual fund's recovery
to near zero while shielding city retirees from any impairment at
all.

                       *     *     *

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

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

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


STONERIVER GROUP: Moody's Withdraws B2 Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings for StoneRiver
Group, LP, including the B2 Corporate Family Rating, B2-PD
Probability of Default Rating, and B1 and Caa1 first- and
second-lien senior secured bank credit facility ratings.

Ratings Rationale

The withdrawals follow the successful closing, in 2014, of Aon U.S.
Holdings' acquisition of StoneRiver's National Flood Services
business unit and the retirement of all of StoneRiver's outstanding
debt.



STUYVESANT TOWN: Jr. Creditors Kick $5.4B Loan Fight to State Court
-------------------------------------------------------------------
Law360 reported that a New York federal judge ordered that a state
court hear a lawsuit claiming CWCapital Asset Management LLC
improperly seized the $5.4 billion Stuyvesant Town-Peter Cooper
Village project following a debt default, a victory for junior
lenders that say they were left out of the money.

According to the report, U.S. District Judge Alison Nathan remanded
the litigation to the New York state court where it was originally
filed, finding no claim that would rise and fall based on the
application of a federal statute.

The case is PCVST Mezzco 4, LLC et al v. Wachovia Bank Commercial
Mortgage Trust 2007-C30 et al., Case No. 1:14-cv-06023 (S.D.N.Y.).

Stuyvesant Town and Peter Cooper Village is home to more than
30,000 residents.  MetLife Inc. built the property in the 1940s
with city assistance to house returning World War II veterans.




SUNTECH AMERICA: Hires Richards Layton as Bankruptcy Counsel
------------------------------------------------------------
Suntech America, Inc. and Suntech Arizona, Inc. seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ Richards, Layton & Finger, P.A. as their bankruptcy counsel,
nunc pro tunc to the Jan. 12, 2015 petition date.

The Debtors require Richards Layton to:

   (a) prepare all necessary petitions, motions, applications,
       orders, reports, and papers necessary to commence the
       Chapter 11 Cases;

   (b) advise the Debtors of their rights, powers and duties as
       debtors and debtors in possession under Chapter 11 of the \
       Bankruptcy Code;

   (c) prepare on behalf of the Debtors all motions, applications,

       answers, orders, reports, and papers in connection with the

       administration of the Debtors' estates;

   (d) take action to protect and preserve the Debtors' estates,
       including the prosecution of actions on the Debtors'
       behalf, the defense of actions commenced against the
       Debtors in the Chapter 11 Cases, the negotiation of
       disputes in which the Debtors are involved, and the
       preparation of objections to claims filed against the
       Debtors;

   (e) assist the Debtors with the sale of any of their assets
       pursuant to Section 363 of the Bankruptcy Code;

   (f) prepare the Debtors' disclosure statement and any related
       motions, pleadings, or other documents necessary to solicit

       votes on the Debtors' plan of reorganization;

   (g) prepare the Debtors' Chapter 11 plan;

   (h) prosecute on behalf of the Debtors, any proposed Chapter 11

       plan and seeking approval of all transactions contemplated
       therein and in any amendments thereto; and

   (i) perform all other necessary legal services in connection
       with the Chapter 11 Cases.

Richards Layton will be paid at these hourly rates:

       Mark D. Collins            $825
       Paul N. Heath              $650
       Zachary I. Shapiro         $490
       William A. Romanowicz      $375
       Lindsey Edinger            $235
       Partners                   $585-$825
       Counsel                    $525
       Associates                 $260-$490
       Paraprofessionals          $235

Richards Layton also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prior to the Petition Date, the Debtors paid Richards Layton a
total retainer of $310,000 in connection with and in contemplation
of the Chapter 11 Cases.

Mark D. Collins, director of Richards Layton, 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.

Richards Layton can be reached at:

       Mark D. Collins, Esq.
       RICHARDS, LAYTON & FINGER, P.A.
       920 N. King Street
       Wilmington, DE 19801
       Tel: 302-651-7700
       Fax: 302-651-7701
       E-mail: collins@rlf.com

                       About Suntech America

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

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

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

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


SUNTECH AMERICA: Taps UpShot Services as Administrative Agent
-------------------------------------------------------------
Suntech America, Inc., and Suntech Arizona, Inc., seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ UpShot Services LLC as administrative agent,
nunc pro tunc to the Jan. 12, 2015 petition date.

The Debtors seek to retain UpShot Services to provide, among other
things, the following bankruptcy administrative services, if and to
the extent requested:

   (a) compile and aggregate data for drafting of the Debtors'
       schedules and statements of financial affairs;

   (b) tabulate votes and perform subscription services as may be
       requested or required in connection with any and all plans
       filed by the Debtors and provide ballot reports and related

       balloting and tabulation services to the Debtors and its
       professionals;

   (c) generate an official ballot certification and testify, if
       necessary, in support of the ballot tabulation results;

   (d) manage any distribution pursuant to a confirmed Plan prior
       to the effective date of such Plan; and

   (e) perform such other administrative services as may be
       requested by the Debtors that are not otherwise allowed
       under the order approving the Section 156(c) Application.

UpShot Services informed the Debtors that, subject to Court
approval, it will bill at the hourly rates which are set forth in
the Services Agreement attached as Exhibit B to the Claims Agent
Application.

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

Travis K. Vandell, chief executive officer of UpShot Services,
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.

UpShot Services can be reached at:

       Travis K. Vandell
       UPSHOT SERVICES LLC
       7808 E Cherry Creek South Drive, Ste 112
       Denver, CO 80231-3230
       Tel: (720) 457-3304
       E-mail: tvandell@upshotservices.com

                       About Suntech America

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

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

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

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


T-L BRYWOOD: Court OKs Agreement to Value Collateral at $8.35M
--------------------------------------------------------------
The U.S. Bankruptcy Court approved an agreed order between T-L
Brywood LLC and secured creditor RCG-KC Brywood, LLC, setting the
value of the commercial shopping center at $8,350,000.

The Debtor and RCG had obtained separate appraisals of the shopping
center commonly known as Brywood Center located at 8636 East 63rd
Street, Kansas City, Missouri, that serves as collateral for a
mortgage loan held by RCG.  

The parties also agreed that the valuation hearing set for
March 4, 2015, is stricken and secured creditor's motion for relief
from the automatic stay is withdrawn without prejudice.

                        About T-L Brywood

T-L Brywood LLC filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 12-09582) on March 12, 2012.  The case was transferred to
the U.S. Bankruptcy Court for the Northern District of Indiana
(Case. 13-21804) on May 14, 2013.

T-L Brywood owns and operates a commercial shopping center known
as
the "Brywood Centre" -- http://www.brywoodcentre.com/-- in Kansas

City, Missouri.  The Property encompasses roughly 25.6 acres and
comprises 183,159 square feet of retail space that is occupied by
12 operating tenants.  The occupancy rate for the Property is
approximately 80%.

The Debtor and lender The PrivateBank and Trust Company reached an
impasse over the terms and conditions of another extension of a
mortgage loan on the Property.  As a result, the Debtor filed the
Chapter 11 case to protect the Property from foreclosure while the
Debtor formulates an exit strategy from the reorganization case.
As of the Petition Date, no foreclosure relating to the Property
had been filed by the Lender.

Judge Donald R. Cassling oversees the case.  The Debtor is
represented by David K. Welch, Esq., Arthur G. Simon, Esq., and
Jeffrey C. Dan. Esq., at Crane, Heyman, Simon, Welch & Clar, in
Chicago.

The Debtor disclosed total assets of $16.7 million and total
liabilities of $14.0 million in its schedules.  The petition was
signed by Richard Dube, president of Tri-Land Properties, Inc.,
manager.

PrivateBank is represented by William J. Connelly, Esq., at
Hinshaw
& Culbertson LLP.



TARGET CANADA: Bankr. Filing Prompts Consumer Credit Review
-----------------------------------------------------------
Target Canada Co.'s bankruptcy filing is leading to increased focus
on the credit risk associated with retail customer expansion into
international markets.  Support linkages to stronger domestic
parent companies may be warranted, Fitch Ratings says.

Target (A-/Stable) said last month it would pull out of Canada
after dismal sales during the past two years.  The bankruptcy has
no financial or rating impact to US consumer product companies in
Fitch's rated universe.  The amounts involved are immaterial to
Fitch-rated companies now in the position of trying to collect
funds for products sold to this Target subsidiary in Canadian
bankruptcy courts.

This week, Target Canada is asking the court for a three-month
extension of protection from creditors to May 15, 2015 from Feb.
13, 2015 as it winds down its retail operations.  The list of
unsecured consumer product vendors is extensive and includes ACCO
Brands (BB-/Stable), Newell Rubbermaid, Inc. (BBB/Positive), and S.
C. Johnson & Sons, Inc. (A-/Stable), among others.

Most are owed less than $1 million per the Jan. 15, 2015
consolidated list of creditors published by Alvarez & Marsal
Canada, Inc., the court-appointed monitor for Target Canada.  In
general, toy industry exposure was larger given the sector's high
customer concentration in Target and timing just past the seasonal
holiday peak.  Mattel, Inc. (A-/Negative) is owed just over $5
million and Hasbro, Inc. (BBB+/Stable) over $3.6 million which is
very modest relative to their cash on hand and cash flows.

Consumer product companies have long benefitted from retailer
expansion outside the US , particularly by Wal-Mart Stores, Inc.
(AA/Stable).  Both Walmart and Target are frequently listed as Top
10 customers in the sector.  Except for Colgate Palmolive Co.
(AA-/Stable), virtually all US consumer product companies derive at
least 10% of their revenues from selling to Walmart.

The sector has piggy-backed off Walmart's fast international build
out, particularly in South America.  For many, international retail
expansion was a low risk way to grow as strong domestic customer
relationships paved the way to stock shelves in new markets.  While
Target's aggressive move into Canada in the past two years could
have provided a modest uptick to sector revenues, the retailer's
sudden filing demonstrates that the risk may not be as low as first
thought.

The bankruptcy filing could lead to more pointed discussions with
retailers expanding into international markets about support
linkages to stronger domestic parent companies and/or place more
focus on the financial health of international subsidiaries than in
the past.  Fitch's discussions with rated issuers regarding
financial exposure to international subsidiaries have found that
some have credit insurance on receivables as a normal matter of
course while others treat each subsidiary as a separate entity and
set credit limits accordingly.  In the Target Canada case, some
issuers looked mainly at the consolidated entity's profile and are
likely to have more pointed discussions about the need for
additional support or enhancements on subsidiary credit extensions
in the future.



TEXOMA PEANUT: Cash Use Order Amendment Entered
-----------------------------------------------
The Bankruptcy Court entered an agreed order modifying the final
agreed order authorizing Texoma Peanut Company, et al., to (i) use
cash collateral; (ii) obtain postpetition credit secured by senior
liens; and (iii) grant adequate protection to existing
lienholders.

All objections filed against the motion were overruled.

The agreement provides that, among other things:

   1. the financing order is modified by substituting these
paragraphs in the place of the equivalent numbered paragraphs in
the financing order:

     Amounts set forth in the budget for the fees and expenses of
the Debtors' professionals will be set aside weekly and held by the
Debtors in a segregated account (the "Professional Fee Escrow").
The amount paid by the Debtors in any month for the fees and
expenses of the Debtors' professionals, whether with cash
collateral or advances under the DIP Facility, will only be paid
upon allowance or authorization by the Court from funds on deposit
in the professional fee escrow and will not exceed the amount set
forth in the budget for such month.

     Lender consents to the professionals retained pursuant to an
order of the Court by the Debtors (collectively, the "Estate
Professionals") retaining any retainers held as of the Petition
Date, provided that such retainers are used first for payment of
allowed fees and expenses of such firms holding such retainers
prior to any payment from the professional fee escrow.

     Lender and WFEFI consent, subject to the terms and conditions
set forth in the financing order, to a carve out from their
collateral for the payment of (i) fees payable to the U.S.
Trustee pursuant to 28 U.S.C. 1930 and (ii) the allowed
professional fees and expenses of estate professionals in an amount
not to exceed (a) the amounts set forth in the budget and paid into
the professional fee escrow to be used to pay
fees earned and expenses incurred prior to the occurrence of an
event of default, plus (b) an aggregate amount not to exceed
$30,000 to be used to pay fees earned and expenses incurred
subsequent to the occurrence of an event of default.  Payments from
the first carve-out will be subject to any terms and conditions of
the engagement agreements and appurtenant orders for the employment
of Estate Professionals.  

A copy of the Amendment to the cash collateral order is available
for free at:

http://bankrupt.com/misc/TexomaPeanut_226_ordermodify_CCorder.pdf

As reported in the Troubled Company Reporter on Nov. 28, 2014, a
federal judge approved a $40.5 million financing to get the Debtors
through bankruptcy.  Texoma on Nov. 25 won final approval from
Judge Tom Cornish of U.S. Bankruptcy Court for the Eastern District
of Oklahoma to get a bankruptcy loan from secured lender Wells
Fargo Bank N.A. and use the bank's cash collateral.

In a filing, the bankruptcy judge said the loan and the companies'
use of cash collateral are "necessary to avoid immediate and
irreparable harm" to the estates.

                        About Texoma Peanut

Texoma Peanut Company was incorporated by Clint Williams in 1961
as a Southern Oklahoma bulk peanut drying, handling and storage
operation, buying and storing peanuts for shellers.  In 1968, The
Clint Williams Company was established as a sheller and processor
of peanuts for both seed and edible markets.  Although The Clint
Williams Company was later merged into TPC, the company continues
to do its processed peanut business under the "Clint Williams
Company" name which is the name known best in the domestic and
international peanut industry.  TPC and its subsidiaries own 15
buying points and storage facilities -- 4 in Oklahoma, 9 in Texas,
and 2 in Mississippi.  TPC owns 99% of Clint Williams Company-
Western Division LLC and 100% of Clint-Co Peanut Company.

TPC and two subsidiaries sought Chapter 11 bankruptcy protection
(Bankr. E.D. Okla. Lead Case No. 14-81334) in Okmulgee, Oklahoma,
on Nov. 6, 2014.  The cases are assigned to Judge Tom R. Cornish.
The judge has granted joint administration of the Chapter 11
cases.

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due March 6, 2015.  Creditors who are
governmental entities have until May 9, 2015, to file claims.

The Debtors have tapped Crowe & Dunlevy as counsel and Dixon
Hughes Goodman as bankruptcy accountants.

The Debtors say they have $49 million in assets.  Secured debt
includes $3.45 million owed to Wells Fargo Bank, N.A., and $2.33
million owed to Wells Fargo Equipment Finance.   Wells Fargo Bank
is represented by William L. Wallander, Esq., at VINSON & ELKINS
LLP, in Dallas, Texas.

As of the Petition Date, an official committee of unsecured
creditors has not yet been appointed in the Cases.

The Debtors sought bankruptcy for protection with plans to sell
all of their core business assets and, thereafter, file a joint
plan of reorganization.  The Debtors expect that by Nov. 24, 2014,
they will have obtained a court order approving the bid procedures
and scheduling an auction date and final sale hearing.  The
Debtors intend to consummate the sale on or prior to Dec. 31,
2014.

The U.S. Trustee overseeing Texoma Peanut Co.'s bankruptcy case
said that it wasn't able to appoint a committee of unsecured
creditors.



TLO LLC: TransUnion Bids to Hold Ex-Workers in Contempt in IP Fight
-------------------------------------------------------------------
Law360 reported that a credit reporting company that purchased data
solutions provider TLFO LLC in a Florida bankruptcy sale sought to
enforce the $154 million deal and hold a company made up of former
TLFO employees in contempt for trying to lay claim to the company's
intellectual property.

According to the report, TransUnion Risk and Alternative Data
Solutions Inc. purchased Florida-based TLFO, which recently
reverted back to its original name from TLO LLC, in December after
a heated auction in which it beat out bids from LexisNexis Group.

                   About TLO LLC nka TLFO LLC

TLO LLC, a provider of risk-mitigation services, filed a petition
for Chapter 11 reorganization (Bankr. S.D. Fla. Case No. 13-20853)
on May 9, 2013, in West Palm Beach, Florida, near the company's
headquarters in Boca Raton.  The petition was signed by E. Desiree
Asher as CEO.

Judge Paul G. Hyman, Jr., presides over the case.  Robert C. Furr,
Esq., and Alvin S. Goldstein, Esq., at Furr & Cohen, serve as the
Debtor's counsel.  Bayshore Partners, LLC is the Debtor's
investment banker.  Thomas Santoro and GlassRatner Advisory &
Capital Group, LLC are the Debtor's financial advisors.

Paul J. Battista, Esq., and Mariaelena Gayo-Guitian, Esq., at
Genovese, Joblove & Battista, P.A., represent the Official
Committee of Unsecured Creditors as counsel.

The Debtor disclosed assets of $46.6 million and liabilities of
$109.9 million, including $93.4 million in secured claims.  The
principal lender is Technology Investors Inc., owed $89 million.
TII is owned by the estate of Hank Asher, the company's primary
owner who died this year.  There is $4.6 million secured by
computer equipment.


TRANSWEST RESORT: Lender Takes Ch. 11 Plan Feud to 9th Circuit
--------------------------------------------------------------
Law360 reported that a secured lender for Transwest Resort
Properties, debtor for two bankrupt Westin luxury resorts, urged
the Ninth Circuit to force an Arizona federal court to reconsider
its objections to the resorts' reorganization plan, arguing that
they were wrongly dismissed because the plan had been executed.

According to the report, the lender, JPMCC 2007-C1 Grasslawn
Lodging LLC, argued in its Ninth Circuit appeal that the district
court wrongly applied the equitable mootness doctrine after finding
that the resorts' Chapter 11 plan had been largely consummated.

                      About Transwest Resort

Tucson, Arizona-based Transwest Resort Properties, Inc.,
indirectly owns an interest in two companies, Transwest Tucson
Property, L.L.C., and Transwest Hilton Head Property, L.L.C.
These two companies each own and manage a resort hotel: the Westin
La Paloma Resort and Country Club in Tucson, Arizona, which is
owned and managed by Transwest Tucson Property, L.L.C., and the
Westin Hilton Head Island Resort and Spa on Hilton Head Island in
South Carolina, which is owned and managed by Transwest Hilton
Head Property, L.L.C.

TRP, Transwest Tucson Property, and Transwest Hilton Head property
are affiliates of Transwest Partners, a real estate development
and investment firm which has been active in the hospitality
sector in Southern Arizona and Sonora, Mexico.

Transwest Tucson Property is a wholly owned subsidiary of
Transwest Tucson II, L.L.C.  Transwest Hilton Head Property is a
wholly owed subsidiaryof Transwest Hilton Head II, L.L.C.

TRP filed for Chapter 11 bankruptcy protection (Bankr. D. Ariz.
Case No. 10-37134) on Nov. 17, 2010.  Kasey C. Nye, Esq., Susan g.
Boswell, Esq., and Elizabeth S. Fella, Esq., at Quarles & Brady
LLP, in Tucson, Ariz., assist the Debtor in its restructuring
effort.  TRP estimated its assets at up to $50,000 and debts at
$10 million to $50 million.

Affiliates Transwest Hilton Head Property, L.L.C. (Bankr. D. Ariz.
Case No. 10-37170), Transwest Tucson Property, L.L.C. (Bankr. D.
Ariz. Case No. 10-37160), Transwest Tucson II, L.L.C. (Bankr. D.
Ariz. Case No. 10-37151), and Transwest Hilton Head II, L.L.C.
(Bankr. D. Ariz. Case No. 10-37145) filed separate Chapter 11
petitions on Nov. 17, 2010.  BeachFleischman PC serves as tax
preparer and advisor, accountant and auditor.  Hundley & Company,
LLC, serves as financial restructuring and interest rate experts,
and Hospitality Real Estate Counselors as valuation consultant and
expert.  Transwest Hilton Head Property estimated assets at
$10 million to $50 million and debts at $100 million to
$500 million.  Transwest Tucson Property estimated assets at
$50 million to $100 million and debts at $100 million to
$500 million.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.


TRIPLANET PARTNERS: Hearing Tomorrow on Exclusivity Extensions
--------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing tomorrow, Feb. 11,
2015, at 10:00 a.m., to consider Triplanet Partners, LLC's motion
for exclusivity extensions.

The Debtor requested that the Court extend its exclusive periods to
file a plan of reorganization until May 5, 2015, and solicit
acceptances for that plan until July 6.

The Debtor is represented by:

         A. Mitchell Greene, Esq.
         ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK P.C.
         875 Third Avenue, 9th Floor
         New York, NY 10022
         Tel: (212) 603-6300

                  About Triplanet Partners LLC

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19.9 million in assets and $33.7 million in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.

No official committee of unsecured creditors has been appointed in
the case.

The Court entered an order extending until Oct. 15, 2014,
Triplanet Partners, LLC's time to assume or reject a non-
residential real property lease with Regus Management Group.


TRONOX LIMITED: Moody's Puts 'Ba3' CFR on Review for Downgrade
--------------------------------------------------------------
Moody's Investors Service placed the ratings of Tronox Limited
(Tronox, Ba3 CFR) under review for downgrade. The review was
prompted by the company's announcement that it has entered into an
agreement to purchase FMC Corporation's soda ash business for $1.64
billion. The all cash deal, which will be funded with about $1.1
billion of existing cash on Tronox's balance sheet and $600 million
of new debt, is expected to close in the first quarter of 2015.

The following summarizes the ratings under review:

Tronox Limited

  Corporate Family Rating -- Ba3

  Probability of Default Rating -- Ba3-PD

Tronox Pigments (Netherlands) BV

  Sr sec term loan B due 2020-- Ba2 (LGD3)

Tronox Finance LLC

  Sr unsec notes due 2020 -- B2 (LGD5)

Ratings Unchanged :

Tronox Limited

  Speculative Grade Liquidity Rating -- SGL-1

Outlook -- changed to Ratings Under Review from Stable

Ratings Rationale

The review of Tronox's ratings for downgrade reflects the large
$1.64 billion acquisition that will deplete the company's excess
cash balances and increase debt. The review will focus on Tronox's
financing plans, synergy opportunities beyond the tax synergies,
restructuring actions, capital investment and further acquisition
opportunities and the level of free cash flow that can be generated
to reduce debt. Moody's does not expect regulatory approvals will
be a significant hurdle, given that Tronox does not currently
operate in the soda ash space. Moody's expect to conclude the
review before the acquisition is completed in the first quarter
2015.

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.

Tronox Limited (Tronox), with corporate offices in Stamford, CT, is
the world's fourth largest producer of titanium dioxide (TiO2) and
is backwardly integrated into the production of titanium ore
feedstocks. It also produces electrolytic chemicals and byproducts
of titanium ore processing (principally zircon). It operates three
pigment plants located in Hamilton, MS, Botlek, The Netherlands,
and Kwinana, Australia. Tronox acquired the Exxaro mineral sands
business (predominately titanium ore feedstocks) in a mostly
equity-financed transaction that closed in June 2012. Exxaro owned
approximately 44% of Tronox as of September 30,2014. Tronox's
revenues were $1.8 billion for the twelve months ended September
30, 2014.



UPRIGHT SHORING: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: UpRight Shoring and Scaffold, Inc.
        946 Industrial Bl.
        Chula Vista, CA 91911

Case No.: 15-00717

Chapter 11 Petition Date: February 6, 2015

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Hon. Christopher B. Latham

Debtor's Counsel: Michael T. O'Halloran, Esq.
                  LAW OFFICE OF MICHAEL T. O'HALLORAN
                  1010 Second Avenue, Ste. 1727
                  San Diego, CA 92101
                  Tel: (619) 233-1727
                  Fax: (619) 233-6526
                  Email: mto@debtsd.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mary Olivo, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/casb15-00717.pdf


UTGR INC: Ch. 11 Court to Weigh Contingent Value Rights
-------------------------------------------------------
Law360 reported that shareholders of the company that owns Rhode
Island's Twin River Casino are gearing up for a potential $350
million fight over contingent value rights promised to junior
creditors under a four-year-old bankruptcy plan, according to a
complaint.

The report related that Twin River Worldwide Holdings Inc., the
reorganized entity that arose from the ashes of Twin River's former
owner, filed a case in the court that handled its bankruptcy in the
hopes of resolving a dispute between existing shareholders and
second-lien creditors to its predecessor company.

                        About UTGR Inc.

UTGR Inc. operated the Twin River racetrack-casino in Lincoln,
Rhode Island.  UTGR filed for Chapter 11 (Bankr. D. R.I. Case No.
09-12418) on June 23, 2009.  The Debtors selected Jager Smith P.C.
as counsel, and Winograd, Shine & Zacks P.C. as their co-counsel.
It also hired Zolfo Cooper LLC as bankruptcy consultants and
special financial advisors.  Donlin Recano served as claims and
notice agent.  In its bankruptcy petition, the Company estimated
assets of less than $500 million and debt exceeding $500 million.

UTGR implemented its reorganization plan on Nov. 5, 2010.  While
UTGR had obtained bankruptcy court confirmation of the Plan
in June 2010, it needed the state to adopt legislation to
implement the reorganization.

In October 2011, Judge Arthur Votolato of the U.S. Bankruptcy Court
in Providence, Rhode Island, closed the Chapter 11 bankruptcy case
of the owners of Twin River citing "the futility of trying to alter
or influence problematic conduct by imposing monetary sanctions
against persons or entities who would suffer little discomfort, and
certainly no pain from such an order."


VELTI PLC: $9.5MM Class Action Settlement, Counsel Fees Approved
----------------------------------------------------------------
District Judge William H. Orrick granted the motions of plaintiffs
Bobby Yadegar/Ygar Capital LLC, St. Paul Teachers' Retirement
Association, Newport News Employees' Retirement Fund, and Oklahoma
Firefighters Pension and Retirement System for final approval of a
partial class action settlement and for an award of attorney's fees
and costs.

The settlement creates a fund of $9.5 million to be distributed
among a class consisting of all persons who purchased or otherwise
acquired Velti plc securities between Jan. 27, 2011 and Aug. 20,
2013.  In light of Velti's bankruptcy and the limited financial
resources of the individual defendants, the District Judge finds
that the settlement is fair, reasonable, and adequate, and that
plaintiffs' counsel's requested award for fees and costs is
appropriate.

The District Judge also held that the release of the unserved
defendants is appropriate under the circumstances of this case, and
that fairness dictates that the Court decide now that the
non-settling defendants are entitled to a Section 78u-4(f)(7)(B)
reduction on all Securities Act claims pending against them.

Plaintiffs' counsel seek an award of $2.38 million in attorney's
fees, or 25% of the $9.50 million settlement fund.  In addition,
plaintiffs' counsel request $219,000 in expenses.

The resulting lodestar is $1.91 million, meaning that plaintiffs'
counsel are asking for a multiplier of approximately 1.25.

Plaintiffs' counsel do not seek an incentive award for the class
representatives.

The case is, ANIKA R. RIECKBORN, et al., Plaintiffs, v. VELTI PLC,
et al., Defendants, Case No. 13-CV-03889-WHO (N.D. Cal.).  A copy
of the Court's February 3, 2015 Order is available at
http://bit.ly/1M5Tsb3from Leagle.com.

                        About Velti Inc.

Velti Inc., a provider of technology for marketing on mobile
devices, sought Chapter 11 protection (Bankr. D. Del. Case No.
13-12878) on Nov. 4, 2013.

Velti Inc., a San Francisco-based unit of Velti Plc, listed
assets of as much US$50 million and debt of as much as US$100
million.  Its Air2Web Inc. unit, based in Atlanta, also sought
creditor protection.

The parent, Dublin, Ireland-based Velti Plc, which trades on the
Nasdaq Stock Market, isn't part of the bankruptcy process.
Operations in the U.K., Greece, India, China, Brazil, Russia, the
United Arab Emirates and elsewhere outside the U.S. didn't seek
protection and business there will continue as usual.

The Debtors are represented by attorneys Stuart M. Brown, Esq.,
at DLA Piper LLP (US), in Wilmington, Delaware; and Richard A.
Chesley, Esq., Matthew M. Murphy, Esq., and Chun I. Jang, Esq.,
at DLA Piper LLP (US), in Chicago, Illinois.  The Debtors have
also tapped Jefferies LLC as investment banker, Sitrick Brincko
Group LLC, as corporate communications consultants, and BMC
Group, Inc., as claims and noticing agent.

U.S. Bank, National Association, as administrative agent for GSO
Credit-A Partners, LP, GSO Palmetto Opportunistic Investment
Partners LP and GSO Coastline Partners LP, extended US$25 million
of postpetition financing to the Debtors.  The DIP Lenders, which
are also the Prepetition Lenders, are represented by Sandy Qusba,
Esq., and Hyang-Sook Lee, Esq., at Simpson Thacher & Bartlett
LLP, in New York.

An Official Committee of Unsecured Creditors has been appointed
in the Debtors' cases.  The Committee has tapped McGuireWoods LLP
as lead counsel and Morris, Nichols, Arsht & Tunnell LLP as
Delaware co-counsel.  Asgaard Capital LLC serves as financial
advisor to the Committee.  Capstone Advisory Group LLC serves as
consultant.



W. R. GRACE: Split Announcement No Impact on Moody's 'Ba2' CFR
--------------------------------------------------------------
Moody's Investors Service has said that it views as moderately
credit negative Feb. 5, 2015's announcement by W. R. Grace & Co.,
which issues debt through its main operating subsidiary W. R. Grace
& Co. - Conn. (Grace, Ba2 stable), that it would separate into two
independent, publicly traded companies in about a year: New Grace,
a catalysts technologies and materials technologies segment, and
New GCP, consisting of Grace's construction products segment and
its Darex packaging business. Moody's also stated that Grace's
planned separation has no immediate impact on its Ba2 Corporate
Family Rating (CFR).

W. R. Grace & Co., through its main operating subsidiary W. R.
Grace & Co. - Conn., is a Columbia, Maryland (US)-based
manufacturer of specialty chemicals and materials, with operations
in over 40 countries. Grace has three reporting segments: catalysts
technologies, which contributed approximately 40% of revenues for
FYE December 2014; materials technologies (approximately 30%); and
construction products (approximately 30%). For FYE December 2014,
the company's reported sales and EBITDA were approximately $3.2
billion and $763 million, respectively.





W.R. GRACE: S&P Lowers Corp. Credit Rating to 'BB+'; Outlook Stable
-------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate rating on
Columbia, Md.-based W.R. Grace & Co. to 'BB+' from 'BBB-'.  The
outlook is stable.

S&P also assigned a recovery rating of '2' to the company's senior
secured debt, and affirmed the company's 'BBB-' senior secured debt
ratings.  At the same time, S&P assigned a '6' recovery rating to
the company's unsecured debt, and lowered S&P's issue-level rating
on unsecured debt to 'BB-' from 'BB+'.

S&P's ratings, including its issue ratings, factor in the company's
existing capital structure and debt amounts.

"The rating reflects what we consider to be Grace's "satisfactory"
business risk profile and "significant" financial risk profile,"
said Standard & Poor's credit analyst Allison L Czerepak.

Given a choice of 'bbb-' or 'bb+', S&P has chosen an anchor score
of 'bb+' based on the potential for some weakening in the business
risk profile.  The announcement for a spin-off raises the prospect
of increased product and end-user concentration, lower diversity,
and potentially slightly higher volatility in EBITDA.  S&P believes
many of the company's existing business strengths, including its
competitive advantage and operating efficiency, remain unchanged.
These strengths, and the potential for an improvement in margins at
the company from the spin-off, offset some of the risk arising from
the potential for increased concentration.

S&P continues to view the business risk profile as "satisfactory,"
but given the company's willingness to consider a split in the
business, S&P no longer believes the company is at the high end of
that assessment.  All modifiers are neutral for the ratings.  S&P
continues to regard Grace's financial risk profile as
"significant," reflecting S&P's expectation that the transaction
will be leverage neutral from a credit standpoint.  S&P expects
liquidity to be "adequate" as defined in its criteria, with sources
exceeding uses by more than 1.2x.  In addition, S&P expects
liquidity sources to exceed uses even if EBITDA is 15% lower than
S&P projects.  S&P also expects that the company will maintain
sufficient cushion under the maximum leverage covenant in its
credit facilities.

"The outlook is stable.  We expect that leverage will not change
materially from current levels as a result of this transaction.  We
expect credit ratios to be in line with the "significant" financial
risk profile, with adjusted FFO to debt in the 20% to 30% range and
adjusted debt to EBITDA in the 3x to 4x range.  We assume only a
modest weakening in the business risk profile, which we believe
remains "satisfactory." We will reassess the company's business
risk profile and financial risk profile as further details of the
proposed spin-off become available," S&P said.

"We will lower the ratings if we come to believe that
leverage-related credit measures are likely to be weaker than our
expectation for reasons including weaker-than-expected operating
performance, a likelihood that the spin-off will increase leverage,
or we assess that financial policy is no longer supportive of
current credit quality.  We could also lower the ratings if we
assess that the spin-off weakens the business risk profile more
than we currently assume.  Finally, we could lower ratings if the
company decides to pursue any material debt-funded acquisition or
shareholder reward," S&P added.

S&P considers an upside scenario as unlikely at this point.  An
upgrade would require the establishment of a track record of
improved leverage credit measures so that the ratio of debt to
EBITDA is consistently below 3x accompanied by supportive financial
policies.  In addition, S&P would require that the business risk
profile be assessed at least as "satisfactory."



WAUPACA FOUNDRY: S&P Discontinues 'B+' CCR on Hitachi Deal
----------------------------------------------------------
Standard & Poor's Ratings Services said that it is discontinuing
its 'B+' corporate credit rating and issue-level ratings on Waupaca
Foundry Inc. (Waupaca).  The discontinuation is in accordance with
Standard & Poor's policy on acquired entities, following the
completion of Waupaca's acquisition by Hitachi Metals Ltd. and
receipt of documents supporting the repayment of all its previously
outstanding term debt.

RATINGS LIST

Discontinued
                                To           From
Waupaca Foundry Inc.
Corporate credit rating        NR           B+/Stable/--
  Senior secured                NR           B+
   Recovery rating              NR           3

NR--Not rated.



WAYNE COUNTY, MI: Moody's Lowers GOLT Debt Rating to 'Ba3'
----------------------------------------------------------
Moody's Investors Services has downgraded to Ba3 from Baa3 the
rating on the general obligation limited tax (GOLT) debt of Wayne
County, MI. The county has a total of $695 million of long-term
GOLT debt outstanding, of which $336 million is rated by Moody's.
An additional $302 million of short-term GOLT delinquent tax
anticipation notes are outstanding. The outlook remains negative.

Summary Rating Rationale

The downgrade to Ba3 reflects a very stressed financial position
tied to an underlying structural imbalance that county management
has been unable to curtail given steady loss of revenue. Moody's
expect the county's current liquidity position will remain
sufficient to meet all obligations in the coming year, but will
continue to degrade absent significant operating adjustments, the
implementation of which could be challenging. The Ba3 rating also
incorporates the weakened economic environment in which the county
operates that Moody's expect will continue to limit the prospects
for revenue growth, as well as an above average exposure to
unfunded pension liabilities. The county's debt burden is
manageable given the availability and utilization of revenue beyond
property taxes for repayment.

Outlook

The negative outlook reflects Moody's expectation that the county
faces hurdles in implementing significant cost reductions. Failure
to reach structural balance in the near term will further degrade
available liquidity and could raise the probability of state
intervention and increase the risk of the county seeking to
restructure its debt and other obligations.

What Could Make The Rating Go Up

123456789012345678901234567890123456789012345678901234567890123456

-- Demonstrated operational balance within the General Fund,
    which will likely rely on significant cuts to expenditures,
    given revenue constraints

-- Strengthening of liquidity position across the county's
    spendable funds

-- Improvement in the county's economic and demographic profile
    that supports stabilization of and subsequent improvement in
revenue trends

What Could Make The Rating Go Down

-- Sustained operational imbalance that further narrows the
county's
    liquidity position

-- Lack of improvement in regional economic conditions that limits

    the stabilization of funding or exerts further downward stress
on property tax revenues

-- Further narrowing of liquidity beyond current projections

-- Initiation by county of efforts to restructure debt obligations
through
    consent agreement or seeking Chapter 9 protection

Obligor Profile

Wayne County is located at the center of southeast Michigan. The
county is home to the city of Detroit (B3 stable) and a number of
the largest suburban communities in the state including the cities
of Livonia (Aa2) and Dearborn (Aa3). With a population of 1.8
million, the county remains one of the most populous in the country
despite a multi-decade trend of declines.

Legal Security

The county's bonds are secured by the pledge and authority to levy
property taxes within statutory and constitutional limitations to
pay debt service.

Use of Proceeds

Not applicable.

Principal Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in Janaury 2014.



WBH ENERGY: Hopeful on Deal with $30-Mil. Creditor
--------------------------------------------------
Law360 reported that attorneys for WBH Energy LP and a lender that
tipped the Texas drilling company into bankruptcy by threatening
the installation of a receiver pledged to attempt to resolve a $30
million debt claim and avoid a contested Chapter 11.  According to
the report, at WBH's debut appearance in Austin, Texas, bankruptcy
court, the debtor's counsel said the energy exploration company
will try to score a bankruptcy loan from prepetition lender
Castlelake LP and find a path forward on a consensual
reorganization.

                         About WBH Energy

WBH Energy Partners LLC (Bankr. W.D. Tex. Case No. 15-10004) and
its affiliates -- WBH Energy, LP (Bankr. W.D. Tex. Case No.
15-10003) and WBH Energy GP, LLC (Bankr. W.D. Tex. Case No.
15-10005) separately filed for Chapter 11 bankruptcy protection on
Jan. 4, 2015.  The petitions were signed by Joseph S. Warnock,
vice
president.

Judge Christopher Mott presides over WBH Energy, LP's case, while
Judge Tony M. Davis presides over WBH Energy Partners' and WBH
Energy GP's cases.

William A. (Trey) Wood, III, Esq., at Bracewell & Giuliani LLP,
serves as the Debtors' bankruptcy counsel.

The U.S. Trustee for Region 7 appointed seven creditors to serve
on
the official committee of unsecured creditors.


WCI COMMUNITIES: Sues Florida Law Firm for Contempt
---------------------------------------------------
Law360 reported that the reorganized developer WCI Communities Inc.
brought a civil contempt claim against Florida law firm Siegfried
Rivera Lerner De La Torre Mars & Sobel PA in Delaware bankruptcy
court for filing a construction defect lawsuit it says violates its
Chapter 11 plan.

According to the report, the adversary case alleges civil contempt
and breach of contract and seeks declaratory judgment and punitive
damages against Rivera Siegfried and co-defendant Cityside
Condominium Association Inc., claiming they knowingly filed and
pursued the state court action in Palm Beach County, Florida,
against the provisions of the plan.

                       About WCI Communities

Headquartered in Bonita Springs, Florida, WCI Communities, Inc.
(Pink Sheets: WCIMQ) -- http://www.wcicommunities.com/-- is a  
fully integrated homebuilding and real estate services company
with more than 50 years' experience in the design, construction
and operation of leisure-oriented, amenity rich master-planned
communities.  It has operations in Florida, New York, New Jersey,
Connecticut, Virginia and Maryland.

The Company and 126 of its affiliates filed for Chapter 11
protection on Aug. 4, 2008 (Bankr. D. Del. Lead Case No.
08-11643 through 08-11770).  On July 1, 2009, debtor-affiliates
WCI 2009 Corporation, WCI 2009 Management, LLC and WCI 2009 Asset
Holding, LLC filed separate Chapter 11 petitions (Case Nos. from
09-12269 to 09-12271).

Thomas E. Lauria, Esq., Frank L. Eaton, Esq., and Linda M. Leali,
Esq., at White & Case LLP, in Miami, Florida, represented the
Debtors as counsel.  Eric Michael Sutty, Esq., and Jeffrey M.
Schlerf, Esq., at Fox Rothschild LLP, represented the Debtors as
Delaware counsel.  Lazard Freres & Co. LLC acted as the Debtors'
financial advisor.  Epiq Bankruptcy Solutions LLC served as the
claims and notice agent for the Debtors.  The U.S. Trustee for
Region 3 appointed five creditors to serve on an official
committee of unsecured creditors.  Daniel H. Golden, Esq., Lisa
Beckerman, Esq., and Philip C. Dublin, Esq., at Akin Gump Strauss
Hauer & Feld LLP; and Laura Davis Jones, Esq., Michael R. Seidl,
Esq., and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl &
Jones LLP, represented the committee.  WCI disclosed total assets
of $2,178,179,000 and total debts of $1,915,034,000 when it filed
for Chapter 11.

The Bankruptcy Court on Aug. 26, 2009, confirmed the Second
Amended Joint Chapter 11 Plan of Reorganization for WCI
Communities, Inc. and its affiliates.  The Plan became effective
Sept. 3, 2009.


WET SEAL: Hit with Class Action Over Store Closures
---------------------------------------------------
Law360 reported that The Wet Seal Inc. has been hit with a proposed
class action in California accusing it of violating a federal law
by keeping workers in the dark before the troubled teen apparel
retailer shuttered most of its stores.

According to the report, the lawsuit was filed on behalf of two of
the nearly 3,700 Wet Seal employees who lost their jobs when the
company announced that it would shutter most of its stores.

The case is Katelin Pruitt et al. v. The Wet Seal Inc., case
number 2:15-cv-00312, in the U.S. District Court for the Central
District of California.

                          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.


WINDSOR PETROLEUM: Hon. Laurie Selber Silverstein Now Handles Case
------------------------------------------------------------------
U.S. Bankruptcy Judge Brendan Linehan Shannon ordered that
effective Jan. 7, 2015, the Chapter 11 case of Windsor Petroleum
Transport Petroleum Corporation is transferred to the Hon. Laurie
Selber Silverstein for all further proceedings and dispositions.

                     About Windsor Petroleum

Windsor Petroleum Transport Corporation and several of its
subsidiaries and related entities on July 14, 2014, filed for
reorganization under Chapter 11 of the U.S. Bankruptcy Code in the
United States Bankruptcy Court in Wilmington, Delaware (Lead Case
No. 14-11708).

The Debtors' counsel is Pauline K. Morgan, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware.  The Debtors'
crisis managers come from AMA Capital, while their chief
restructuring officer is Paul J. Leand, Jr.

Judge Peter Walsh on Dec. 23, 2014, issued amended findings of
fact, conclusions of law, and order confirming the amended plan of
reorganization of the Debtors.

The Amended Plan of Reorganization is premised on a restructuring
support agreement negotiated with bondholders who hold more than
70% of the Company's 7.84% secured notes in a principal amount of
$188,590,000 as of the Petition Date.

The U.S. Trustee notified the Bankruptcy Court that it was unable
to appoint an official committee of unsecured creditors.



WULFORST ACQUISITION: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Wulforst Acquisition LLC
        1230 Station Road
        Medford, NY 11763

Case No.: 15-70458

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 6, 2015

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

Judge: Hon. Louis A. Scarcella

Debtor's Counsel: Mark J Friedman, Esq.
                  THE LAW OFFICES OF MARK J. FRIEDMAN P.C.
                  66 Split Rock Road
                  Syosset, NY 11791
                  Tel: 516-653-2480
                  Fax: 516-653-2481
                  Email: mfriedman@friedmanpc.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by George Heinlein, managing member.

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


[*] As Oil Prices Drop, Bankruptcy Attys Say Strike Early
---------------------------------------------------------
Law360 reported that smaller energy companies must move quickly and
take a proactive approach with creditors as oil prices plummet to
avoid ending up in bankruptcy like driller WBH Energy LP and
waterless fracking company GASFRAC Energy Services Inc., experts
say.  According to the report, while the downturn may have come
quickly and unexpectedly, energy companies uncertain with the
future of oil prices can't sit around and wait to see where prices
go.  If companies want to avoid facing bankruptcy, nip it in the
bud, experts say, the report related.


[*] Bankruptcy Attorney Mette Kurth Joins Fox Rothschild
--------------------------------------------------------
Fox Rothschild welcomed Mette Kurth as a partner in its national
Financial Restructuring & Bankruptcy Department. Kurth will be
based in the Los Angeles office.

An experienced financial restructuring and bankruptcy attorney,
Kurth uses her background in economics to provide sophisticated
guidance to clients on myriad matters related to insolvency and
debt resolution. She represents creditors, debtors and investors in
all areas of business and corporate reorganization, bankruptcy law
and litigation, distressed sales and acquisitions, workouts, and
out-of-court bankruptcy alternatives.

"We are thrilled to welcome Mette and her robust bankruptcy
practice to the firm and to our Los Angeles office," noted Brett A.
Axelrod and Yann Geron, co-chairs of Fox's Financial Restructuring
& Bankruptcy Department. "Her strategic work in helping clients
reorganize and restructure when financial distress occurs will be
an asset to our clients in California and across the country."

Pairing her former experience in management with her economics
background, Kurth counsels clients in a range of
industries—including retail, food service and hospitality, real
estate, manufacturing and distribution, imports, fitness, financial
services, agriculture, transportation, telecommunications,
healthcare, and gaming -- in a wide array bankruptcy and
restructuring of matters.

A sampling of her representative matters includes:

* Received M&A Advisor's Turnaround Award of the Year Award- Lower
Middle Market in connection with her representation of The Walking
Company, an $80 million publicly traded retailer of specialty
footwear, in a successful and rapidly executed Chapter 11
reorganization, which resulted in the payment in full of all
unsecured creditors; a $10 million recapitalization of the company;
renegotiation of significant lease obligations; and the
preservation of all of the company's stores, substantially all of
its employees and its management team.

* Kurth was named as a recipient of the "Transaction of the Year:
Mid-Sized Company" award by the Turnaround Management Association
for her role in representing the Official Committee of Unsecured
Creditors in the chapter 11 case filed by Contessa Premium Foods,
Inc. The award recognized Contessa's successful bankruptcy sale and
the liquidation plan the team developed for the case, which
resulted in 100 percent recoveries for all allowed general
unsecured creditors. In announcing the award, the TMA noted the
restructuring team's exceptional collaborative process, which
focused on open communication and cooperation among the Committee,
other key creditors and the company jointly selecting, overseeing
and directing Contessa's investment banker to ensure a speedy and
robust bankruptcy sale.

* Dedicated to community service, Kurth has been actively involved
in numerous community efforts.  Most recently, she assisted the
Jubilee Campaign in raising funds through its Education After
Escape campaign to assist the Nigerian schoolgirls who escaped from
their Boko Haram kidnappers in seeking refuge in the United States,
where they have obtained scholarships to continue their education
in safety.

* She previously served as a member of the resource board of
Sojourn Shelter, which provides battered women and children a safe
space to regroup, rebuild and re-establish their self-esteem and
lives.  In 2008, she helped raise more than $25,000 for the Avon
Walk for Breast Cancer.  And in 2003, Kurth's family was recognized
by the City of Los Angeles as the North Hollywood YMCA's "Family of
the Year" in recognition of the assistance they provided to the
financially troubled North Hollywood facility and their successful
efforts to prevent the closure of the highly respected YMCA
preschool.

* Additionally, she is deeply involved with the executive committee
of the national Turnaround Management Association and currently
serves as its Vice President of Communications and a member of its
Board of Directors and Executive Committee.  

Kurth received her J.D. from the University of California, Los
Angeles and her B.A., cum laude, from Trinity University.

Prior to joining Fox, Kurth was a partner with Arent Fox.

To reach Ms. Kurth, contact:

         Mette H. Kurth, Esq.
         FOX ROTHSCHILD
         1800 Century Park East
         Suite 300
         Los Angeles, CA
         Tel: (310) 228-4402
         E-mail: mkurth@foxrothschild.com


[*] Burr & Forman Adds New Commercial Litigation Partner in Fla.
----------------------------------------------------------------
Burr & Forman LLP announced the addition of Laurence S. Litow as a
partner in the firm's Fort Lauderdale office and a member of the
Commercial Litigation practice group. Litow's arrival follows the
firm's recent relocation to a larger office in Fort Lauderdale to
accommodate the growth of the firm's South Florida practice since
the office opened in 2012.

"Larry's experience handling complex litigation for a wide range of
industries, coupled with his dedication to client service,
complement the firm's focus on advancing our clients' business
goals throughout our Florida offices and Southeastern footprint,"
said John Chiles, managing partner of Burr & Forman's Fort
Lauderdale office. "As South Florida continues to see great
economic growth, we will continue to strategically expand our
services in the region and throughout the state in response to the
business and legal needs facing our clients."

Litow focuses his practice on business and commercial litigation,
including matters related to real estate and lender liability
defense, construction lien litigation, partnership and shareholder
disputes, trade secrets and non-disclosure agreements, construction
defect litigation, as well as litigation in banking, contracts,
fraud, trust, bankruptcy and probate. He has experience
representing closely held and Fortune 500 companies, as well as
government agencies and financial institutions.

Outside of his legal practice, Litow is an active leader in the
South Florida community. He serves as chairman of the Planning and
Zoning Board of the City of Parkland. He is also a past president
and director of the Soref Jewish Community Center in Plantation,
Fla. and past director of the Daniel D. Cantor Senior Center and
the Broward Jewish Federation.

Litow earned his undergraduate degree from George Washington
University and his law degree from the University of Miami School
of Law.

In addition to its Fort Lauderdale location, Burr & Forman has
offices in Orlando and Tampa, Fla., and six other cities throughout
the Southeast. The firm has nearly 80 attorneys licensed to
practice in Florida.

Mr. Litow may be reached at:

         Laurence S. Litow, Esq.
         BURR & FORMAN LLP
         Las Olas Centre II
         350 East Las Olas Blvd
         Suite 1420
         Ft. Lauderdale, FL 33301
         Tel: (954) 414-6222
         E-mail: lslitow@burr.com

                       About Burr & Forman

For over a century, Burr & Forman LLP's experienced legal team has
served clients with local, national, and international interests in
numerous industry and practice areas, ranging from commercial
litigation and class actions to corporate transactions, including
bankruptcy and restructurings.  A Southeast regional firm with
nearly 300 attorneys and nine offices in Alabama, Florida, Georgia,
Mississippi, and Tennessee, Burr & Forman attorneys draw from a
diverse range of resources to help clients achieve their goals and
address their complex legal needs.  Visit the firm's Web site at
http://www.burr.com/



[*] Chartis Says Mexican Bankruptcy Blocks $103M Coverage Suit
--------------------------------------------------------------
Law360 reported that Chartis Specialty Insurance Co. urged a New
York appeals court to dismiss claims that it wrongfully failed to
cover an investment firm for losses from a $103 million loan to a
Mexican hotel venture that tanked, arguing that bankruptcy-related
woes aren't covered by the policy.

According to the report, the insurer is seeking to deep-six a
lawsuit from CT Investment Management Co. LLC -- which alleges
Chartis denied political risk coverage to CT after some businesses
that took out the loan went bankrupt and a Mexican court issued
several rulings that halted loan payments and prevented money
transfers.

In April 2010, some of the Mexican companies involved in the loan
filed for bankruptcy in that country, and a Mexican court then
reportedly granted injunctive relief to the companies preventing CT
and others from exercising their legal rights the debtors and their
respective assets.

The case is CT Investment Management Co. LLC v. Chartis Specialty
Insurance Co., case number 653896/2012, in the Supreme Court of the
State of New York, County of New York.


[*] Commercial Creditors Urge Reversal on Ch. 7 Junior Liens
------------------------------------------------------------
Law360 reported that commercial lenders worried that the U.S.
Supreme Court will let Chapter 7 debtors rid themselves of junior
liens from second mortgages argued that a decision allowing
so-called lien stripping would constrain lending to even the
largest corporate borrowers.

According to the report, in a jointly written brief, four creditor
trade groups warned about the "disruption to commercial
expectations" underpinning U.S. credit markets if the Supreme Court
elects to uphold the right of individual debtors to do away with
inferior liens on underwater homes.


[*] NJ Appeals Court Frees Hill Wallack From Malpractice Suit
-------------------------------------------------------------
Law360 reported that Hill Wallack LLP was freed from a legal
malpractice suit, with a New Jersey appellate panel ruling a former
client couldn't pursue allegations that the firm's negligence
prevented him from collecting from a bankrupt ex-business partner
because the claims are barred by an earlier settlement.  According
to the report, a two-judge panel on the Superior Court of New
Jersey, Appellate Division, affirmed a summary judgment granted to
Hill Wallack, saying William Torre's legal malpractice case against
the Princeton, New Jersey, firm couldn't go forward because of a
2009 settlement.


[*] Quinn Emanuel Pads Houston Expansion with Susman Hire
---------------------------------------------------------
Law360 reported that Quinn Emanuel Urquhart & Sullivan LLP has
hired a former Susman Godfrey LLP partner to bolster its Houston
operations, adding more than two decades of business litigation
experience in areas including antitrust, intellectual property,
securities fraud, malpractice, employment and insurance, the firm
said.

According to the report, Charles Eskridge worked for Susman Godfrey
for 20 years before joining Quinn Emanuel's Houston office.  The
firm said Eskridge is "a true generalist" and has experience in a
wide variety of areas such as antitrust, intellectual property,
aviation disasters, and securities fraud, the report related.


[*] Ye Cecelia Hong Joins King & Spalding's New York Office
-----------------------------------------------------------
Ye Cecilia Hong has joined King & Spalding's financial institutions
and finance practices as a partner in the New York office. She
formerly was a corporate finance partner at Kirkland & Ellis.

"We are looking to actively grow our New York finance capabilities
and believe that Cecilia is a natural fit for our practice," said
William H. Fuller, leader of King & Spalding's financial
institutions practice. "She has an excellent command of the
leveraged acquisition market for both private equity sponsors and
financial institutions. Cecilia adds distressed-financing and
restructuring depth to our team -- particularly on the private
equity sponsor-side -- and she handles borrower-side
representations, as well. We are pleased to welcome Cecilia to the
firm."

Hong focuses on complex, broad-based financing transactions for
both public and privately held borrowers and lenders. She also has
experience in banking and credit matters and in
distressed-financing and restructuring transactions. Hong received
her bachelor of law degree and masters in international economic
law degree from China Foreign Affairs University (Beijing) and
earned her L.L.M. degree at the University of Chicago. She is
qualified to practice in China. A native of that country, she
speaks both Mandarin Chinese and English.  

"I am excited to join King & Spalding’s finance practice," said
Hong. "I look forward to the opportunity to build my middle-market
practice and contribute to the growth of the firm’s finance
business in the United States and Asia."

King & Spalding's finance practice has more than 50 lawyers located
in offices across the United States, Europe and the Middle East
representing lenders, investors, funds and borrowers in finance and
other commercial transactions. These include a wide array of
investment grade and sub-investment grade credit facilities on both
a syndicated and single-lender basis. King & Spalding was ranked
6th in the United States for lender representations in 2013,
according to Thomson Reuters.

Ms. Hong may be reached at:

         Ye Cecelia Hong, Esq.
         KING & SPALDING
         1185 Avenue of the Americas
         10036 New York, NY
         Tel: (212) 556-2169
         Fax: (212) 556-2222
         E-mail: chong@kslaw.com

                                About King & Spalding

Celebrating more than 125 years of service, King & Spalding is an
international law firm that represents a broad array of clients,
including half of the Fortune Global 100, with 800 lawyers in 17
offices in the United States, Europe, the Middle East and Asia. The
firm has handled matters in over 160 countries on six continents
and is consistently recognized for the results it obtains,
uncompromising commitment to quality and dedication to
understanding the business and culture of its clients.  See
http://www.kslaw.com/


[^] Large Companies With Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                    Total     Holders'    Working
                                   Assets       Equity    Capital
  Company         Ticker             ($MM)        ($MM)      ($MM)
  -------         ------           ------     --------    -------
ABSOLUTE SOFTWRE  ALSWF US          138.4        (12.0)       2.2
ABSOLUTE SOFTWRE  ABT CN            138.4        (12.0)       2.2
ABSOLUTE SOFTWRE  OU1 GR            138.4        (12.0)       2.2
AC SIMMONDS & SO  ACSX US             1.4         (0.4)      (1.5)
ACCRETIVE HEALTH  ACHI US           510.0        (85.6)     (17.7)
ACCRETIVE HEALTH  6HL GR            510.0        (85.6)     (17.7)
ADVANCED EMISSIO  OXQ1 GR           106.4        (46.1)     (15.3)
ADVANCED EMISSIO  ADES US           106.4        (46.1)     (15.3)
ADVENT SOFTWARE   AXQ GR            434.9        (64.8)    (122.0)
ADVENT SOFTWARE   ADVS US           434.9        (64.8)    (122.0)
AGILE THERAPEUTI  AGRX US            60.9         42.4       39.8
AIR CANADA        AC CN          10,545.0     (1,400.0)     164.0
AIR CANADA        ACDVF US       10,545.0     (1,400.0)     164.0
AIR CANADA        ADH2 GR        10,545.0     (1,400.0)     164.0
AIR CANADA        ADH2 TH        10,545.0     (1,400.0)     164.0
AIR CANADA        ACEUR EU       10,545.0     (1,400.0)     164.0
AK STEEL HLDG     AKS US          4,858.5        (77.0)     900.5
AK STEEL HLDG     AK2 GR          4,858.5        (77.0)     900.5
AK STEEL HLDG     AK2 TH          4,858.5        (77.0)     900.5
AK STEEL HLDG     AKS* MM         4,858.5        (77.0)     900.5
ALLIANCE HEALTHC  AIQ US            473.5       (127.3)      62.8
AMC NETWORKS-A    AMCX* MM        3,663.3       (388.0)     659.4
AMC NETWORKS-A    AMCX US         3,663.3       (388.0)     659.4
AMC NETWORKS-A    9AC GR          3,663.3       (388.0)     659.4
AMER RESTAUR-LP   ICTPU US           33.5         (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US         1,998.7        (42.4)     263.0
ANGIE'S LIST INC  8AL GR            161.0        (39.4)     (22.7)
ANGIE'S LIST INC  8AL TH            161.0        (39.4)     (22.7)
ANGIE'S LIST INC  ANGI US           161.0        (39.4)     (22.7)
ARRAY BIOPHARMA   AR2 GR            163.6        (13.9)      82.8
ARRAY BIOPHARMA   AR2 TH            163.6        (13.9)      82.8
ARRAY BIOPHARMA   ARRY US           163.6        (13.9)      82.8
AUTOZONE INC      AZO US          7,717.1     (1,662.8)  (1,383.4)
AUTOZONE INC      AZ5 TH          7,717.1     (1,662.8)  (1,383.4)
AUTOZONE INC      AZ5 QT          7,717.1     (1,662.8)  (1,383.4)
AUTOZONE INC      AZ5 GR          7,717.1     (1,662.8)  (1,383.4)
AUTOZONE INC      AZOEUR EU       7,717.1     (1,662.8)  (1,383.4)
AVALANCHE BIOTEC  AVU GR            167.2        155.7      161.9
AVALANCHE BIOTEC  AAVL US           167.2        155.7      161.9
AVID TECHNOLOGY   AVID US           197.2       (341.2)    (173.2)
AXIM BIOTECHNOLO  AXIM US             1.1         (0.2)      (0.2)
BENEFITFOCUS INC  BNFT US           131.7        (31.2)      34.2
BENEFITFOCUS INC  BTF GR            131.7        (31.2)      34.2
BERRY PLASTICS G  BP0 GR          5,176.0        (93.0)     660.0
BERRY PLASTICS G  BERY US         5,176.0        (93.0)     660.0
BRP INC/CA-SUB V  B15A GR         2,115.5         (9.5)     184.7
BRP INC/CA-SUB V  BRPIF US        2,115.5         (9.5)     184.7
BRP INC/CA-SUB V  DOO CN          2,115.5         (9.5)     184.7
BURLINGTON STORE  BURL US         2,796.9       (167.9)      77.6
BURLINGTON STORE  BUI GR          2,796.9       (167.9)      77.6
CABLEVISION SY-A  CVC US          6,563.7     (5,068.0)     158.9
CABLEVISION SY-A  CVY GR          6,563.7     (5,068.0)     158.9
CABLEVISION-W/I   8441293Q US     6,563.7     (5,068.0)     158.9
CABLEVISION-W/I   CVC-W US        6,563.7     (5,068.0)     158.9
CADIZ INC         CDZI US            56.0        (49.7)       3.0
CADIZ INC         2ZC GR             56.0        (49.7)       3.0
CAESARS ENTERTAI  C08 GR         24,491.5     (3,714.4)   1,363.3
CAESARS ENTERTAI  CZR US         24,491.5     (3,714.4)   1,363.3
CAPMARK FINANCIA  CPMK US        20,085.1       (933.1)       -
CASELLA WASTE     CWST US           661.8         (6.7)      (0.5)
CENTENNIAL COMM   CYCL US         1,480.9       (925.9)     (52.1)
CHOICE HOTELS     CZH GR            664.2       (397.0)     206.0
CHOICE HOTELS     CHH US            664.2       (397.0)     206.0
CIENA CORP        CIEN TE         2,072.6        (69.6)     912.1
CIENA CORP        CIEN US         2,072.6        (69.6)     912.1
CIENA CORP        CIE1 TH         2,072.6        (69.6)     912.1
CIENA CORP        CIE1 QT         2,072.6        (69.6)     912.1
CIENA CORP        CIE1 GR         2,072.6        (69.6)     912.1
CINCINNATI BELL   CBB US          1,952.6       (584.4)      50.1
CLEAR CHANNEL-A   CCO US          6,383.9       (132.6)     376.9
CLEAR CHANNEL-A   C7C GR          6,383.9       (132.6)     376.9
CLIFFS NATURAL R  CLF* MM         3,199.2     (1,699.1)     489.2
CLIFFS NATURAL R  CVA TH          3,199.2     (1,699.1)     489.2
CLIFFS NATURAL R  CVA GR          3,199.2     (1,699.1)     489.2
CLIFFS NATURAL R  CLF US          3,199.2     (1,699.1)     489.2
CLOUD SECURITY C  3CS GR              0.0         (0.2)      (0.2)
COMVERSE INC      CNSI US           649.6         (2.8)       4.3
COMVERSE INC      CM1 GR            649.6         (2.8)       4.3
CONNECTURE INC    CNXR US            85.8        (67.7)     (55.8)
CONNECTURE INC    2U7 GR             85.8        (67.7)     (55.8)
CORCEPT THERA     CORT US            37.2         (1.3)      19.9
CORINDUS VASCULA  CVRS US             0.0         (0.0)      (0.0)
CVSL INC          CVSL US            66.0         (4.7)       2.8
DIPLOMAT PHARMAC  7DP GR            322.7          6.6      (39.9)
DIPLOMAT PHARMAC  DPLO US           322.7          6.6      (39.9)
DIPLOMAT PHARMAC  7DP TH            322.7          6.6      (39.9)
DIRECTV           DTV US         22,594.0     (5,557.0)      43.0
DIRECTV           DTVEUR EU      22,594.0     (5,557.0)      43.0
DIRECTV           DIG1 GR        22,594.0     (5,557.0)      43.0
DIRECTV           DTV CI         22,594.0     (5,557.0)      43.0
DIRECTV           DTV SW         22,594.0     (5,557.0)      43.0
DOMINO'S PIZZA    EZV GR            510.9     (1,281.7)     112.9
DOMINO'S PIZZA    EZV TH            510.9     (1,281.7)     112.9
DOMINO'S PIZZA    DPZ US            510.9     (1,281.7)     112.9
DUN & BRADSTREET  DB5 GR          1,789.2     (1,083.4)      (0.3)
DUN & BRADSTREET  DNB US          1,789.2     (1,083.4)      (0.3)
DURATA THERAPEUT  DTA GR             82.1        (16.1)      11.7
DURATA THERAPEUT  DRTX US            82.1        (16.1)      11.7
DURATA THERAPEUT  DRTXEUR EU         82.1        (16.1)      11.7
EDGEN GROUP INC   EDG US            883.8         (0.8)     409.2
EMPIRE RESORTS I  NYNY US            42.4        (14.3)      (9.9)
EMPIRE RESORTS I  LHC1 GR            42.4        (14.3)      (9.9)
ENTELLUS MEDICAL  ENTL US            14.0         (8.0)       4.8
EOS PETRO INC     EOPT US             1.3        (28.4)     (29.5)
EXTENDICARE INC   EXE CN          1,885.0         (7.2)      77.0
EXTENDICARE INC   EXETF US        1,885.0         (7.2)      77.0
FAIRPOINT COMMUN  FRP US          1,488.5       (395.7)       9.4
FAIRPOINT COMMUN  FONN GR         1,488.5       (395.7)       9.4
FAIRWAY GROUP HO  FGWA GR           372.2        (16.5)      17.9
FAIRWAY GROUP HO  FWM US            372.2        (16.5)      17.9
FERRELLGAS-LP     FEG GR          1,680.4       (138.8)     (37.1)
FERRELLGAS-LP     FGP US          1,680.4       (138.8)     (37.1)
FMSA HOLDINGS IN  FMSA US         1,447.5        (21.7)     271.3
FMSA HOLDINGS IN  FM1 GR          1,447.5        (21.7)     271.3
FMSA HOLDINGS IN  FMSAEUR EU      1,447.5        (21.7)     271.3
FREESCALE SEMICO  1FS TH          3,275.0     (3,581.0)   1,324.0
FREESCALE SEMICO  1FS GR          3,275.0     (3,581.0)   1,324.0
FREESCALE SEMICO  FSL US          3,275.0     (3,581.0)   1,324.0
FRESHPET INC      FRPTEUR EU         75.3        (43.5)       0.4
FRESHPET INC      7FP GR             75.3        (43.5)       0.4
FRESHPET INC      FRPT US            75.3        (43.5)       0.4
GAMING AND LEISU  GLPI US         2,595.4        (77.9)     (44.2)
GAMING AND LEISU  2GL GR          2,595.4        (77.9)     (44.2)
GARDA WRLD -CL A  GW CN           1,356.8       (243.8)      57.4
GENCORP INC       GY US           1,921.6       (170.9)      99.2
GENCORP INC       GCY GR          1,921.6       (170.9)      99.2
GENTIVA HEALTH    GTIV US         1,225.2       (285.2)     130.0
GENTIVA HEALTH    GHT GR          1,225.2       (285.2)     130.0
GLG PARTNERS INC  GLG US            400.0       (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US          400.0       (285.6)     156.9
GOLD RESERVE INC  GOD GR             28.0        (10.5)       4.9
GOLD RESERVE INC  GRZ CN             28.0        (10.5)       4.9
GOLD RESERVE INC  GDRZF US           28.0        (10.5)       4.9
GRAHAM PACKAGING  GRM US          2,947.5       (520.8)     298.5
GYMBOREE CORP/TH  GYMB US         1,284.0       (321.3)      39.5
HCA HOLDINGS INC  HCA US         31,199.0     (6,498.0)   3,450.0
HCA HOLDINGS INC  2BH GR         31,199.0     (6,498.0)   3,450.0
HCA HOLDINGS INC  2BH TH         31,199.0     (6,498.0)   3,450.0
HD SUPPLY HOLDIN  5HD GR          6,523.0       (657.0)   1,396.0
HD SUPPLY HOLDIN  HDS US          6,523.0       (657.0)   1,396.0
HERBALIFE LTD     HOO GR          2,364.5       (420.6)     508.8
HERBALIFE LTD     HLFEUR EU       2,364.5       (420.6)     508.8
HERBALIFE LTD     HLF US          2,364.5       (420.6)     508.8
HOVNANIAN ENT-A   HO3 GR          2,289.9       (117.8)   1,403.7
HOVNANIAN ENT-A   HOV US          2,289.9       (117.8)   1,403.7
HOVNANIAN ENT-B   HOVVB US        2,289.9       (117.8)   1,403.7
HOVNANIAN-A-WI    HOV-W US        2,289.9       (117.8)   1,403.7
HUBSPOT INC       HUBS US            58.9        (13.7)     (17.9)
HUBSPOT INC       096 GR             58.9        (13.7)     (17.9)
HUGHES TELEMATIC  HUTCU US          110.2       (101.6)    (113.8)
IHEARTMEDIA INC   IHRT US        14,306.0     (9,506.2)   1,003.2
INCYTE CORP       ICY GR            785.3        (89.6)     538.0
INCYTE CORP       INCY US           785.3        (89.6)     538.0
INCYTE CORP       ICY TH            785.3        (89.6)     538.0
INFOR US INC      LWSN US         6,778.1       (460.0)    (305.9)
IPCS INC          IPCS US           559.2        (33.0)      72.1
ISTA PHARMACEUTI  ISTA US           124.7        (64.8)       2.2
JUST ENERGY GROU  1JE GR          1,570.4       (311.6)     159.7
JUST ENERGY GROU  JE US           1,570.4       (311.6)     159.7
JUST ENERGY GROU  JE CN           1,570.4       (311.6)     159.7
L BRANDS INC      LTD GR          7,149.0       (433.0)   1,050.0
L BRANDS INC      LTD TH          7,149.0       (433.0)   1,050.0
L BRANDS INC      LB US           7,149.0       (433.0)   1,050.0
L BRANDS INC      LBEUR EU        7,149.0       (433.0)   1,050.0
LEAP WIRELESS     LWI TH          4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI GR          4,662.9       (125.1)     346.9
LEAP WIRELESS     LEAP US         4,662.9       (125.1)     346.9
LORILLARD INC     LO US           3,275.0     (2,155.0)     918.0
LORILLARD INC     LLV TH          3,275.0     (2,155.0)     918.0
LORILLARD INC     LLV GR          3,275.0     (2,155.0)     918.0
MANNKIND CORP     MNKD US           386.8        (40.7)    (100.3)
MANNKIND CORP     NNF1 GR           386.8        (40.7)    (100.3)
MANNKIND CORP     NNF1 TH           386.8        (40.7)    (100.3)
MARRIOTT INTL-A   MAQ GR          6,847.0     (1,842.0)  (1,186.0)
MARRIOTT INTL-A   MAR US          6,847.0     (1,842.0)  (1,186.0)
MARRIOTT INTL-A   MAQ TH          6,847.0     (1,842.0)  (1,186.0)
MDC COMM-W/I      MDZ/W CN        1,707.3        (86.7)    (256.5)
MDC PARTNERS-A    MDZ/A CN        1,707.3        (86.7)    (256.5)
MDC PARTNERS-A    MDCA US         1,707.3        (86.7)    (256.5)
MDC PARTNERS-A    MD7A GR         1,707.3        (86.7)    (256.5)
MDC PARTNERS-EXC  MDZ/N CN        1,707.3        (86.7)    (256.5)
MERITOR INC       MTOR US         2,346.0       (576.0)     268.0
MERITOR INC       AID1 GR         2,346.0       (576.0)     268.0
MERRIMACK PHARMA  MACK US           188.6        (99.9)      40.9
MERRIMACK PHARMA  MP6 GR            188.6        (99.9)      40.9
MICHAELS COS INC  MIM GR          2,030.0     (2,269.0)     409.0
MICHAELS COS INC  MIK US          2,030.0     (2,269.0)     409.0
MONEYGRAM INTERN  MGI US          4,600.2       (157.2)      87.1
MORGANS HOTEL GR  MHGC US           632.3       (221.3)      89.3
MORGANS HOTEL GR  M1U GR            632.3       (221.3)      89.3
MOXIAN CHINA INC  MOXC US             4.9         (1.2)      (4.0)
MPG OFFICE TRUST  1052394D US     1,280.0       (437.3)       -
NATIONAL CINEMED  NCMI US           993.6       (200.2)      51.8
NATIONAL CINEMED  XWM GR            993.6       (200.2)      51.8
NAVISTAR INTL     NAV US          7,443.0     (4,618.0)     782.0
NAVISTAR INTL     IHR TH          7,443.0     (4,618.0)     782.0
NAVISTAR INTL     IHR GR          7,443.0     (4,618.0)     782.0
NEFF CORP-CL A    NEFF US           612.1       (343.7)      (1.5)
NEW ENG RLTY-LP   NEN US            178.9        (25.9)       -
NORTHWEST BIO     NBYA GR            29.4        (31.2)     (41.7)
NORTHWEST BIO     NWBO US            29.4        (31.2)     (41.7)
OMEROS CORP       OMER US            25.3        (26.6)       9.0
OMEROS CORP       3O8 GR             25.3        (26.6)       9.0
OMTHERA PHARMACE  OMTH US            18.3         (8.5)     (12.0)
PALM INC          PALM US         1,007.2         (6.2)     141.7
PATRIOT NATIONAL  PN US             137.0        (38.7)     (25.7)
PBF LOGISTICS LP  PBFX US           360.0        (47.3)      15.6
PBF LOGISTICS LP  11P GR            360.0        (47.3)      15.6
PHILIP MORRIS IN  PMI SW         35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  PM1CHF EU      35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  PM FP          35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  4I1 GR         35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  4I1 TH         35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  4I1 QT         35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  PM1EUR EU      35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  PM1 TE         35,187.0    (11,203.0)     372.0
PHILIP MORRIS IN  PM US          35,187.0    (11,203.0)     372.0
PLAYBOY ENTERP-A  PLA/A US          165.8        (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US            165.8        (54.4)     (16.9)
PLY GEM HOLDINGS  PGEM US         1,304.9        (73.5)     238.9
PLY GEM HOLDINGS  PG6 GR          1,304.9        (73.5)     238.9
PROTALEX INC      PRTX US             0.8        (10.3)      (0.0)
PROTECTION ONE    PONE US           562.9        (61.8)      (7.6)
PROTEON THERAPEU  PRTO US            24.2          9.6       19.3
QUALITY DISTRIBU  QLTY US           439.6        (30.4)     105.2
QUALITY DISTRIBU  QDZ GR            439.6        (30.4)     105.2
QUINTILES TRANSN  QTS GR          3,106.7       (536.2)     511.8
QUINTILES TRANSN  Q US            3,106.7       (536.2)     511.8
RAYONIER ADV      RYQ GR          1,304.7        (63.8)     188.6
RAYONIER ADV      RYAM US         1,304.7        (63.8)     188.6
REGAL ENTERTAI-A  RGC US          2,553.5       (755.1)       6.5
REGAL ENTERTAI-A  RETA GR         2,553.5       (755.1)       6.5
REGAL ENTERTAI-A  RGC* MM         2,553.5       (755.1)       6.5
RENAISSANCE LEA   RLRN US            57.0        (28.2)     (31.4)
RENTPATH INC      PRM US            208.0        (91.7)       3.6
RETROPHIN INC     17R GR            145.9        (10.2)      (3.7)
RETROPHIN INC     RTRX US           145.9        (10.2)      (3.7)
REVLON INC-A      REV US          1,912.6       (570.6)     300.9
REVLON INC-A      RVL1 GR         1,912.6       (570.6)     300.9
RITE AID CORP     RTA TH          7,186.0     (1,792.7)   1,895.3
RITE AID CORP     RTA GR          7,186.0     (1,792.7)   1,895.3
RITE AID CORP     RAD US          7,186.0     (1,792.7)   1,895.3
ROCKWELL MEDICAL  RWM TH             23.9         (5.5)       2.6
ROCKWELL MEDICAL  RWM GR             23.9         (5.5)       2.6
ROCKWELL MEDICAL  RMTI US            23.9         (5.5)       2.6
ROUNDY'S INC      4R1 GR          1,089.7        (66.8)      71.8
ROUNDY'S INC      RNDY US         1,089.7        (66.8)      71.8
RURAL/METRO CORP  RURL US           303.7        (92.1)      72.4
RYERSON HOLDING   RYI US          2,006.2        (38.2)     749.5
RYERSON HOLDING   7RY GR          2,006.2        (38.2)     749.5
SALLY BEAUTY HOL  S7V GR          2,097.0       (255.6)     753.8
SALLY BEAUTY HOL  SBH US          2,097.0       (255.6)     753.8
SBA COMM CORP-A   SBJ GR          7,809.0       (297.6)    (671.8)
SBA COMM CORP-A   SBAC US         7,809.0       (297.6)    (671.8)
SBA COMM CORP-A   SBJ TH          7,809.0       (297.6)    (671.8)
SECOND SIGHT MED  EYES US             9.6        (19.5)       4.4
SECOND SIGHT MED  24P GR              9.6        (19.5)       4.4
SEQUENOM INC      SQNM US           134.6        (51.9)      36.5
SEQUENOM INC      QNMA TH           134.6        (51.9)      36.5
SEQUENOM INC      QNMA GR           134.6        (51.9)      36.5
SILVER SPRING NE  9SI TH            552.9       (139.0)      82.8
SILVER SPRING NE  SSNI US           552.9       (139.0)      82.8
SILVER SPRING NE  9SI GR            552.9       (139.0)      82.8
SIRIUS XM CANADA  XSR CN            336.0        (91.2)    (159.5)
SIRIUS XM CANADA  SIICF US          336.0        (91.2)    (159.5)
SPORTSMAN'S WARE  06S GR            315.7        (35.0)      83.3
SPORTSMAN'S WARE  SPWH US           315.7        (35.0)      83.3
SUPERVALU INC     SVU* MM         5,078.0       (647.0)     277.0
SUPERVALU INC     SVU US          5,078.0       (647.0)     277.0
SUPERVALU INC     SJ1 TH          5,078.0       (647.0)     277.0
SUPERVALU INC     SJ1 GR          5,078.0       (647.0)     277.0
THERAVANCE        HVE GR            553.7       (193.1)     237.4
THERAVANCE        THRX US           553.7       (193.1)     237.4
THRESHOLD PHARMA  THLD US            76.7        (21.0)      49.1
THRESHOLD PHARMA  NZW1 GR            76.7        (21.0)      49.1
TOWN SPORTS INTE  CLUB US           482.6        (53.8)      69.7
TRANSDIGM GROUP   T7D GR          6,913.6     (1,464.7)   1,231.3
TRANSDIGM GROUP   TDG US          6,913.6     (1,464.7)   1,231.3
TRINET GROUP INC  TNETEUR EU      1,393.3        (48.9)      17.3
TRINET GROUP INC  TN3 TH          1,393.3        (48.9)      17.3
TRINET GROUP INC  TN3 GR          1,393.3        (48.9)      17.3
TRINET GROUP INC  TNET US         1,393.3        (48.9)      17.3
UNILIFE CORP      4UL GR             80.7         (2.7)       0.4
UNILIFE CORP      4UL TH             80.7         (2.7)       0.4
UNILIFE CORP      UNIS US            80.7         (2.7)       0.4
UNISYS CORP       UIS US          2,348.7     (1,452.4)     319.6
UNISYS CORP       UISEUR EU       2,348.7     (1,452.4)     319.6
UNISYS CORP       USY1 TH         2,348.7     (1,452.4)     319.6
UNISYS CORP       UISCHF EU       2,348.7     (1,452.4)     319.6
UNISYS CORP       USY1 GR         2,348.7     (1,452.4)     319.6
UNISYS CORP       UIS1 SW         2,348.7     (1,452.4)     319.6
VECTOR GROUP LTD  VGR US          1,643.4         (7.9)     561.5
VECTOR GROUP LTD  VGR GR          1,643.4         (7.9)     561.5
VENOCO INC        VQ US             756.5       (100.0)    (762.9)
VERISIGN INC      VRSN US         2,154.9       (883.5)    (429.9)
VERISIGN INC      VRS GR          2,154.9       (883.5)    (429.9)
VERISIGN INC      VRS TH          2,154.9       (883.5)    (429.9)
VERIZON TELEMATI  HUTC US           110.2       (101.6)    (113.8)
VIRGIN AMERICA I  2VA1 GR           876.0       (313.0)      19.0
VIRGIN AMERICA I  VA US             876.0       (313.0)      19.0
VIRGIN AMERICA I  2VA1 TH           876.0       (313.0)      19.0
VIRGIN MOBILE-A   VM US             307.4       (244.2)    (138.3)
WEIGHT WATCHERS   WTW US          1,558.3     (1,357.7)      60.6
WEIGHT WATCHERS   WW6 QT          1,558.3     (1,357.7)      60.6
WEIGHT WATCHERS   WW6 GR          1,558.3     (1,357.7)      60.6
WEIGHT WATCHERS   WTWEUR EU       1,558.3     (1,357.7)      60.6
WEIGHT WATCHERS   WW6 TH          1,558.3     (1,357.7)      60.6
WEST CORP         WSTC US         3,818.1       (659.6)     454.6
WEST CORP         WT2 GR          3,818.1       (659.6)     454.6
WESTMORELAND COA  WLB US          1,578.5       (264.3)     101.2
WESTMORELAND COA  WME GR          1,578.5       (264.3)     101.2
WESTMORELAND RES  WMLP US           204.0        (14.2)     (57.7)
WORKIVA INC       0WKA GR            82.6        (23.4)     (23.4)
WORKIVA INC       WK US              82.6        (23.4)     (23.4)
XERIUM TECHNOLOG  XRM US            611.2        (51.2)     102.1
XERIUM TECHNOLOG  TXRN GR           611.2        (51.2)     102.1
XOMA CORP         XOMA US            70.9        (18.1)      28.5
XOMA CORP         XOMA TH            70.9        (18.1)      28.5
YRC WORLDWIDE IN  YEL1 TH         1,985.0       (474.3)     148.2
YRC WORLDWIDE IN  YEL1 GR         1,985.0       (474.3)     148.2
YRC WORLDWIDE IN  YRCW US         1,985.0       (474.3)     148.2


                            *********

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.

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

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

                   *** End of Transmission ***