TCR_Public/150211.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, February 11, 2015, Vol. 19, No. 42

                            Headlines

A.M. CASTLE: S&P Lowers CCR to 'CCC+' on Unsustainable Debt
AGFEED INDUSTRIES: Creditor Says $2.8M Claim Must be Paid Now
ALCO STORES: Seeks April 10 Extension of Plan Filing Date
ALSIP ACQUISITION: ComEd Adequate Assurance of Payment OK'd
ALSIP ACQUISITION: Sanabe & Associates Okayed as Investment Banker

AMERICAN AIRLINES: Strikes Deal with EPA Over $39M Superfund Claim
AMFIN FINANCIAL: FDIC Wants High Court to Nix $170MM Tax Refund Row
AMPAM RIGGS: Nat'l Union Shakes Bid for $1M Excess Coverage
ARCHDIOCESE OF ST. PAUL: Taps Meier Kennedy as Special Counsel
ATP OIL: $1M Settlement Denied in Gulf Oil Discharge Suit

ATP OIL: US Tells Judge to Ignore Objections, OK Deal
B. ENDEAVOUR SHIPPING: Recognition Hearing Set for March 5
BATE LAND & TIMBER: BLC Wants Ch. 11 Trustee or Conversion
BAYOU SHORES: U.S. Appeal of Ch. 11 Plan Lives On
BERNARD L. MADOFF: Ex-Aide Slams Feds' "Godfather" Remark

BINDER & BINDER: U.S. Trustee Trims Credtiors Panel to 4 Members
BRIAR'S CREEK GOLF: Files for Ch. 11 with $37M Debt
BRIAR'S CREEK GOLF: Voluntary Chapter 11 Case Summary
BUILDING #19: Creditors Committee's Lawyer Sets Up Own Law Firm
CACHE INC: Court Issues Joint Administration Order

CAESARS ENTERTAINMENT: External Panel to Rule on Default Insurance
CAESARS ENTERTAINMENT: Swaps Payout Denied by ISDA Panel
CAESARS ENTERTAINMENT: UST Forms 7-Member Noteholder Committee
CENTRAL OKLAHOMA: Gets Court's Nod for BKD LLP as Auditor
CHICAGO H&S: 7th Cir. Revives Withdrawal Liability Claim v Oaktree

CLEANTECH SOLUTIONS: Case Summary & 3 Top Unsecured Creditors
COGENT COMMUNICATIONS: Moody's New Rates $245MM Secured Notes 'B1'
COGENT COMMUNICATIONS: S&P Rates $245MM Sr. Secured Notes 'B+'
COLT DEFENSE: Refinances But Still Could Skip Interest Payment
COTTONPORT MONOFILL: Case Summary & 20 Top Unsecured Creditors

COUNTRY EXPLOSION: Case Summary & 20 Largest Unsecured Creditors
CRAIGHEAD COUNTY: US Trustee Unable to Form Creditors' Committee
D & L ENERGY: Amends Schedules of Assets and Liabilities
D&L CARON: Voluntary Chapter 11 Case Summary
DELIA'S INC: Can Access $20 Million of DIP Financing

DELIA'S INC: Floats $2.5M Stalking Horse Deal for Trademarks
DENDREON CORP: Valeant OK'd as Stalking Horse, Ups Bid to $400-Mil.
DIGITAL DOMAIN: Mickey Mouse Loses 3rd Cir. Appeal on Patent Sale
ENDEAVOUR INT'L: Seeks June 8 Extension of Plan Filing Date
ENERGY FUTURE: Has Until June 23 to File Plan

ENERGY FUTURE: To Float New Ch. 11 Restructuring Proposal
FCC HOLDINGS: Judge Extends Deadline to Remove Suits to Feb. 23
FENG LI: Owes Stolen Funds in Bankruptcy, 3rd Circuit Hears
FISKER AUTOMOTIVE: Brown Rudnick, Others Renew Bid for Fee Hike
FOODS INC: Food Partners Approved as Financial Advisors

FRONTIER COMMUNICATIONS: Fitch Puts 'BB' IDR on Negative Watch
GANNETT CO: Shares Reinstatement No Impact on Moody's Ba1 CFR
GENERAL MOTORS: Activist Investors Propose Shares Buyback
GENERAL MOTORS: Suzuki Wants Suit Over Compact Car Fires Tossed
GENERAL MOTORS: Widow Says Co. Hid Evidence in Crash Case

GEORGES MARCIANO: Tries to Keep Dispute in Bankruptcy Court
GLOBAL GEOPHYSICAL: Completes Restructuring, Exits Chapter 11
GREEN MOUNTAIN: Amends Schedules of Assets and Liabilities
GREEN MOUNTAIN: Gets Final Approval to Access Bay Point DIP Loan
GREEN MOUNTAIN: Wants Plan Filing Deadline Extended to May 21

GREEN MOUNTAIN: Wants Until Aug. 17 on Lease-Related Decisions
GRIFFIN HOMEBUILDING: Developers Can't Shake $19-Mil. Suit
GT ADVANCED: Judge Extends Deadline to Remove Suits to May 5
GTA REALTY: Wants More Time to File Reorganization Plan
GTL USA: Voluntary Chapter 11 Case Summary

GULFCO HOLDING: Appeals Case Dismissal to 3rd Cir.
HOLDER GROUP SUNDANCE: Case Summary & 8 Top Unsecured Creditors
HOLDER GROUP SUNDANCE: Files for Ch. 11 with $5M in Debt
HOMCO REALTY: Files for Bankruptcy;  Creditors' Meeting on Feb. 19
IBAHN CORP: Asks Court to Extend Deadline to Remove Suits

IMPERIAL CAPITAL: FDIC Settles Fight Over $30-Mil.
INDUSTRIAL ENTERPRISES: Judge Keeps Most of Clawback Suit Alive
JEMSEK CLINIC: Court Rejects Bids for Sanctions
LANGTREE VENTURES: Retains Keen-Summit to Auction Office Building
LIGHTSQUARED INC: Judge Dismisses Most of GPS Suit

LLS AMERICA: Ch.11 Trustee Wins Judgment Against 685937 BC Ltd
LLS AMERICA: Trustee Wins $143,000 Judgment Against Heidi Schulze
LLS AMERICA: Trustee Wins C$657,000 Judgment Against Foerstner
LLS AMERICA: Trustee Wins Judgment Against Gudrun Foerstner
LOCUST HILL FARMS: Case Summary & 6 Largest Unsecured Creditors

MAGNESIUM CORP: Rennert Says Dividend Didn't Fund Hamptons Mansion
NATIONAL RURAL UTILITIES: Court OKs Sanctions in Exec's Bankruptcy
NATROL INC: Seeks March 9 Extension of Plan Filing Date
O.W. BUNKER: Asks Court to Extend Deadline to Remove Suits
ORBITAL ATK: S&P Raises CCR to 'BB+' on Spin-Off, Merger

ORBITAL SCIENCES: S&P Discontinues 'BB+' CCR Over Alliant Deal
PAR PHARMACEUTICAL: Moody's Affirms 'B2' Corporate Family Rating
PAR PHARMACEUTICAL: S&P Affirms 'B' CCR; Outlook Stable
PETSMART INC: S&P Lowers CCR to 'B+' on  Private Equity Acquisition
PETTERS GROUP: GE Capital Urges Consolidation of Suits

PETTERS GROUP: JPMorgan Says Bankruptcy Kill $3.7B Ponzi Suit
PHOENIX PAYMENT: Wants Deadline to Remove Suits Moved to May 4
PICACHO HILLS UTILITY: New Mexico Judge Okays Release of Funds
PREMIERE HARDWOODS: Case Summary & 20 Largest Unsecured Creditors
PROJECT PORSCHE: S&P Lowers CCR to 'CCC+'; Outlook Negative

PROSPECT PARK: Asks Court to Extend Deadline to Remove Suits
RAAM GLOBAL: S&P Lowers CCR to 'CCC-'; Outlook Remains Negative
RADIOSHACK CORP: Cleared to Continue Sales, Tap Bankruptcy Loan
RADIOSHACK CORP: Section 341(a) Meeting Scheduled for March 18
RADIOSHACK CORP: Will Shut Down 1,784 Stores

RCS CAPITAL: Moody's Continues Review of B2 Corp. Family Rating
RESIDENTIAL CAPITAL: UBS, Others Can't Nix Mortgage Loans Suits
REVEL AC: IGT to Appeal $95.4-Mil. Sale of Assets to Polo North
REVEL AC: Polo North Wants Sale Closing Date Extended
REVEL AC: Unsecured Creditors to Get $1.35M in Lender Deal

ROCK POINTE: Wash. Developer Hit with $1-Mil. Atty Fee
RONALD COHEN: Judgment Creditors Win Ch.11 Case Dismissal
ROSEMAN UNIVERSITY: S&P Cuts Series 2012 Bonds Rating to 'BB-'
S THOMAS ANDERSON: Involuntary Bankr. Petition v. Judge Nixed
SABINE OIL: S&P Discontinues 'B' Corp. Credit RatingCR After Merger

SAMUEL WYLY: Judge Won't Revisit $175M Alternate Payout in SEC Case
SEVEN COUNTIES: Reorganization Plan Confirmed
SKYMALL LLC: Has Authority for Ch. 11 Auction Plan
T-L CONYERS: Order Denying MB Financial Stay Relief Affirmed
TELECOMMUNICATIONS MANAGEMENT: S&P Affirms 'B' CCR; Outlook Stable

TNS INC: S&P Retains 'B+' CCR Following Sale of Gateway Business
TOLLENAAR HOLSTEINS: Section 341(a) Meeting Set for March 12
TOLLENAAR HOLSTEINS: Seeks Authority to Use Cash Collateral
TOLLENAAR HOLSTEINS: Seeks to Pay Employees' Wages
TOLLENAAR HOLSTEINS: Wants Joint Administration of Ch. 11 Cases

TRUMP ENTERTAINMENT: NLRB Supports Taj Mahal Workers
TS EMPLOYMENT: Seeks March 2 Extension of Schedules Filing Date
TURNER GRAIN: Panel Taps Lueken Dilks & Nicholas Wooten as Counsel
USF HOLDINGS: S&P Ups Secured Rating to B+ on Revised Deal Terms
VISION ONE MANAGEMENT: Voluntary Chapter 11 Case Summary

VIVARO CORP: Ch. 11 Judge Trims $50M Leucadia Clawback Suit
WASHINGTON MUTUAL: Trust Defeats Challenge to Ch. 11 Warrant Deal
WET SEAL: Executes Debtor-in-Possession Financial Agreement
WET SEAL: Scores Improved DIP with $5M Added to $20MM Loan
WOLF MOUNTAIN: Must Defend Bankruptcy Case From Dismissal

XG TECHNOLOGY: Receives Nasdaq Listing Non-Compliance Notice
YARWAY CORP: Judge Extends Deadline to Remove Lawsuits
YMCA MILWAUKEE: Sells Headquarters to Kendall Breunig
[*] $195M Attys' Fees OK'd in LBO Collusion Settlement
[*] AlixPartners Announces Managing Director Promotions

[*] Asbestos Attys Face Off At Hearing Over Claims Transparency
[*] MSRB Says Bank Loan Secrecy Harms Bondholders
[*] Ocwen Rejects Hedge Funds' Bond Default Claims
[*] SSG Capital Advisors Launches Energy Group

                            *********

A.M. CASTLE: S&P Lowers CCR to 'CCC+' on Unsustainable Debt
-----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Oak Brook, Ill.-based A.M. Castle & Co. to 'CCC+'
from 'B-'.  The outlook is negative.  S&P lowered the rating on the
company's 12.75% senior secured notes to 'CCC+' from 'B-'.  The
recovery rating on the debt remains '3', indicating S&P's
expectation for meaningful (50% to 70%) recovery in the event of
payment default.

The negative outlook reflects S&P's view that weak operating
results will persist in 2015, which will pressure the company's
liquidity position.  S&P also expects very weak credit measures in
2015, with debt to EBITDA above 10x and EBITDA interest coverage
below 1x.  The outlook also reflects the possibility that liquidity
may become "weak" during the next 12 months if the company does not
address its capital structure shortcomings.

S&P could lower the rating if the company experiences cash burn
through the next six months and its asset base continues to shrink,
and the company needs to fund operating losses and debt service
with available cash and ABL borrowings.  In S&P's view, this
indicates the possibility that A.M. Castle would use the ABL credit
facility at a level where its financial covenant could be
triggered.  S&P could also lower the rating if A.M. Castle does not
address its capital structure shortcomings or S&P considers
liquidity to be "weak."

An upgrade in the next year is unlikely given S&P's cautious view
of operating results through 2015.  However, if operations and cash
flow improve such that debt to EBITDA decreases to notably less
than 10x and EBITDA interest coverage is above 1.25x for a
sustained period, and the capital structure becomes sustainable,
S&P could consider an upgrade.



AGFEED INDUSTRIES: Creditor Says $2.8M Claim Must be Paid Now
-------------------------------------------------------------
Law360 reported that an AgFeed Industries Inc. creditor told a
Delaware bankruptcy judge that its $2.8 million claim against the
hog producer's estate must be paid immediately, saying it shouldn't
have to wait while the liquidating trustee pursues an adversary
complaint against Hormel Food Corp.

According to the report, Claims Recovery Group LLC, which acquired
the claim from Hormel, contended that similarly ranked creditors
have already received payment under AgFeed's confirmed Chapter 11
plan and no grounds exist for holding up its own recovery.

                     About AgFeed Industries

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

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

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

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

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

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


ALCO STORES: Seeks April 10 Extension of Plan Filing Date
---------------------------------------------------------
Alco Stores, Inc., et al., ask the U.S. Bankruptcy Court for the
Northern District of Texas, Dallas Division, to extend their
exclusive plan filing period through and including April 10, 2015,
and exclusive solicitation period through and including June 9,
2015.

The Debtors tell the Court that they anticipate filing a plan of
liquidation by the end of February 2015, and that they are
proceeding expeditiously in negotiating the terms of a Chapter 11
plan with their key constituencies.

A hearing on the extension motion will be held on March 6, 2015, at
9:30 a.m. (Central Standard Time).

                         About ALCO Stores

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

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

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

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

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

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

The Debtor received court approval to sell some of its real estate
along with store leases.

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


ALSIP ACQUISITION: ComEd Adequate Assurance of Payment OK'd
-----------------------------------------------------------
The U.S. Bankruptcy Court approved a stipulation between Alsip
Acquisition, LLC, et al., and Commonwealth Edison Company relating
to adequate assurance of payment for future utility services.

A letter of agreement dated Dec. 15, 2014, is available for free at
http://bankrupt.com/misc/Alsip_stipulation_AdequateAssurance.pdf

ComEd had previously objected to the Debtors' motion to compel
ComEd to continue providing utility services.  ComEd had requested
the Court to enter an order:

   1. denying the utility motion as to ComEd; and

   2. awarding ComEd the postpetition adequate assurance of
payment.

ComEd said that the Debtors' utility motion seeks to shift the
Debtors' obligations under Section 366(c)(3) from modifying the
amount of the adequate assurance of payment requested by ComEd
under Section 366(c)(2) to setting the form and amount of the
adequate assurance of payment acceptable to the Debtors.

The Debtors sought to have the Court approve their form of adequate
assurance of payment, which is a bank account containing $121,313,
which purportedly reflects two-weeks of the Debtors' anticipated
post-Idle Date (Sept. 5, 2014) utility charges.

ComEd provided the Debtors with prepetition utility goods and
services and has continued to provide the Debtors with utility
goods and services since the Petition Date.

                     About Alsip Acquisition

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

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

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

As of the Oct. 31, 2014, the Debtors had approximately $7,742,972
of funded indebtedness and related obligations outstanding.

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



ALSIP ACQUISITION: Sanabe & Associates Okayed as Investment Banker
------------------------------------------------------------------
The U.S. Bankruptcy Court entered an order authorizing Alsip
Acquisition, LLC, et al., to employ Sanabe & Associates, LLC as
investment banker.

The Official Committee of Unsecured Creditors filed a limited
objection to the application stating that the success fee and terms
of retention were not reasonable and must not be approved unless
modified.  According to the Committee, Sanabe must either be
retained under Section 327 of the Bankruptcy Code or, if retained
under Section 328 of the Bankruptcy Code, its proposed compensation
must be subject to review in light of the actual services rendered
and the result obtained by Sanabe at the conclusion of the chapter
11 cases or such time that Sanabe brings its final application for
compensation.

As reported in the Troubled Company Reporter on Dec. 2, 2014, the
Debtors initially employed Sanabe on May 20, 2014, to act as
investment banker in connection with a potential sale transaction.

Since that date, Sanabe has been providing the Debtors with
financial and market-related advice and assistance in furtherance
of the sale transaction.  As part of its prepetition engagement,
the Debtors paid an initial retaining payment of $50,000, with a
monthly retainer of $25,000 per month thereafter, starting on
Aug. 1, 2014.  Collectively, these retainer payments have totaled
$150,000.

The Debtors sought to continue to employ Sanabe as their exclusive
investment banker in conjunction with the possible sale
transaction.  Sanabe's advice would relate to the following:

   (a) working with the Debtors' management in developing a
       strategy with regard to the sale transaction;

   (b) preparing and presenting a list of potential purchasers to
       the Debtors for the Debtors' review;

   (c) contacting potential purchasers, both strategic and
       financial, to solicit their interest in a sale transaction;

   (d) coordinating the creation and maintenance of a data room of
       information provided by the Debtors, the costs of which
       will be charged directly to the Debtors;

   (e) preparing, with the assistance of the Debtors, management
       presentations to selected purchasers;

   (f) advising the Debtors in their negotiations regarding the
       sale transaction, including, if necessary, evaluating
       indications of interest and offers received and negotiating
       a definitive agreement;

   (g) coordinating with the Debtors' legal counsel regarding
       matters related to the closing of a transaction, and other
       advice as may be requested by the Debtors; and

   (h) taking all necessary steps and providing services
       appropriate to the Debtors' efforts to maximize the value
       of their assets and estates.

Sanabe will be paid a non-refundable retainer of $25,000 per
month, and a success fee equal to 4% of the transaction value at
the closing of a sale transaction.  The firm will also be paid a
fee equal to 25% of the amount of the success fee, with respect to
any fairness opinion requested in writing by the Debtors.  The
firm will also be reimbursed for its reasonable out-of-pocket
expenses.

Jonathan I. Mishkin, founder and manager partner of Sanabe &
Associates, assures the Court that his firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code and does not represent any interest adverse to the
Debtors and their estates.

                     About Alsip Acquisition

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

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

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

As of the Oct. 31, 2014, the Debtors had approximately $7,742,972
of funded indebtedness and related obligations outstanding.

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



AMERICAN AIRLINES: Strikes Deal with EPA Over $39M Superfund Claim
------------------------------------------------------------------
Law360 reported that bankrupt AMR Corp. will pay only $1.7 million
to resolve a $39 million U.S. Environmental Protection Agency claim
for Superfund cleanup costs at a California landfill, according to
a proposed settlement filed in New York bankruptcy court.

The report said the agreement would release the EPA's claim against
the ex-parent company of American Airlines Inc., while allowing an
unsecured claim for $1.67 million by a steering committee for
Operating Industries Inc., which managed the landfill located in
Los Angeles County.

                     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.


AMFIN FINANCIAL: FDIC Wants High Court to Nix $170MM Tax Refund Row
-------------------------------------------------------------------
Law360 reported that the Federal Deposit Insurance Corp. says that
the U.S. Supreme Court should uphold a Sixth Circuit decision that
rescinded a $170 million tax refund granted to the bankruptcy
estate of AmFin Financial Corp. because of an ambiguity in the
holding company's tax-sharing agreement.

According to the report, in July, the Sixth Circuit asked a lower
court to re-evaluate whether AFC's tax sharing agreement entitles
it to tax refunds generated by its commercial banking arm AmTrust
Bank.

                     About AmTrust Financial

AmTrust Financial Corp. was the owner of the AmTrust Bank.
AmTrust was the seventh-largest holder of deposits in South
Florida, with $4.7 billion in deposits and 21 branches.

In November 2008, the Office of Thrift Supervision issued a cease
and desist order requiring AmTrust to improve its capital ratios.

AmTrust Financial, together with affiliates that include AmTrust
Management Inc., filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ohio Case No. 09-21323) on Nov. 30, 2009.  The debtor
subsidiaries include AmFin Real Estate Investments, Inc., formerly
AmTrust Real Estate Investments, Inc. (Case No. 09-21328).

G. Christopher Meyer, Esq., Christine M. Piepont, Esq., and Sherri
L. Dahl, Esq., at Squire Sanders & Dempsey (US) LLP, in Cleveland,
Ohio; and Stephen D. Lerner, Esq., at Squire Sanders & Dempsey
(US) LLP, in Cincinnati, Ohio, served as counsel to the Debtors.
Kurtzman Carson Consultants served as claims and notice agent.
Attorneys at Hahn Loeser & Parks LLP serve as counsel to the
Official Committee of Unsecured Creditors.  AmTrust Management
estimated $100 million to $500 million in assets and debts in its
Chapter 11 petition.

AmTrust Bank was not part of the Chapter 11 filings.  On Dec. 4,
2009, AmTrust Bank was closed by regulators and the Federal
Deposit Insurance Corporation was named receiver.  New York
Community Bank, in Westbury, New York, assumed all of the deposits
of AmTrust Bank pursuant to a deal with the FDIC.

AmTrust, nka AmFin Financial Corp., obtained confirmation of its
Amended Joint Plan of Reorganization on Nov. 3, 2011.  The plan
was declared effective in December 2011.


AMPAM RIGGS: Nat'l Union Shakes Bid for $1M Excess Coverage
-----------------------------------------------------------
Law360 reported that a California federal judge ruled that a home
developer seeking more than $1 million in defense costs for suits
over allegedly defective plumbing systems hadn't shown whether all
policies issued to a then-bankrupt plumbing contractor had been
exhausted, granting excess insurer National Union Fire Insurance
Co. of Pittsburgh, Pa.'s motion for summary judgment.  According to
the report, U.S. District Judge James V. Selna said that Del Webb
Communities Inc. couldn't prove that a bankruptcy court order
issued to plumbing company AMPAM Riggs Plumbing Inc., which had
performed work for Del Webb.

The case is Del Webb Communities Inc. et al v. Arch Insurance
Company et al., Case No. 8:13-cv-01767 (C.D. Calif.), before Judge
James V. Selna.


ARCHDIOCESE OF ST. PAUL: Taps Meier Kennedy as Special Counsel
--------------------------------------------------------------
The Archdiocese of Saint Paul and Minneapolis seeks approval from
the Bankruptcy Court to employ its existing corporate counsel,
Meier, Kennedy & Quinn, Chartered, as its special non-bankruptcy
ongoing operations (ordinary course) counsel.

MKQ has served as outside general counsel for the Archdiocese for
over 50 years and is well informed about legal matters pertaining
to The Archdiocese.  The Archdiocese desires to continue to retain
MKQ and believes that the best interests of its estate would be
served by retaining MKQ.  MKQ has not and will not represent or
assist The Archdiocese in carrying out its duties as
debtor-in-possession in Chapter 11, and will not be involved in the
administration of the Chapter 11 case or play a role in advising
the Archdiocese on the legal aspects of the reorganization.

The Debtor has requested the services of MKQ to act as special
non-bankruptcy ongoing-operations (ordinary course) counsel
regarding issues relating to the Archdiocese's ongoing operations
for which MKQ is already counsel to the Archdiocese, but are
otherwise unrelated to the Chapter 11 case.  These matters include
corporate governance and other corporate matters, parish
consolidation, Catholic school closure and merger, religious
immigration, clergy and lay employee pension and benefits work
involving "Church" plans unrelated to bankruptcy issues,
non-bankruptcy contract review and negotiation, Catholic cemetery
law, Catholic school law, constitutional law issues related to
employment and real estate matters, real estate, employment matters
and non-bankruptcy litigation (other than victim claim or
insurance-related litigation and to the extent such litigation is
not stayed by the bankruptcy court), for which MKQ represented the
Archdiocese prior to the Petition Date.  MKQ's representation
relative to these ongoing matters will not relate to the Chapter 11
case.

MKQ has agreed to be compensated in accordance with the provisions
set forth in Section 330 of the Bankruptcy Code and will apply to
the Court for allowance of compensation and reimbursement of
expenses in accordance with the applicable provisions of the
Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the
Local Bankruptcy Rules, the Court's Instructions for Filing a
Chapter 11 Case and orders of the Court.

Compensation to MKQ will be based on the hourly rates of the
attorneys representing the Debtor, plus reimbursement of actual,
necessary expenses.  The current hourly billing rates charged by
MKQ attorneys expected to provide services to the Debtor are as
follows:

                                     Hourly Rate
                                     -----------
         Thomas B. Wieser               $290
         Charles M. Bichler             $290
         John C. Gunderson              $225
         Jennifer R. Larimore           $225
         Samuel Nelson                  $225
         Leo H. Dehler (Of Counsel)     $290

All fees and costs for MKQ incurred prior to the Petition Date have
been paid by The Archdiocese from operating funds.  In the 90-day
period prior to the Petition Date, the Archdiocese paid MKQ the sum
of $102,600 in the ordinary course of business in connection with
services unrelated to the bankruptcy matter.

Thomas B. Wieser, president of MKQ, attests that the firm does not
hold or represent an interest adverse to the Archdiocese's estate
with respect to the matters of which it is to be employed.

A hearing on the application is slated for Feb. 19, 2015, at 9
a.m.

                   About Archdiocese of St. Paul

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

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

The Debtor disclosed $45,203,010 in assets and $15,890,460 in
liabilities as of the Chapter 11 filing.

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

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

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



ATP OIL: $1M Settlement Denied in Gulf Oil Discharge Suit
---------------------------------------------------------
Law360 reported a Louisiana federal judge denied a proposed $1
million settlement over allegations a unit of bankrupt ATP Oil &
Gas Corp. violated federal environmental laws by secretly
discharging oil and chemicals into the Gulf of Mexico, questioning
whether the penalty is too small.

According to the report, U.S. District Judge Nannette Jolivette
Brown said in her ruling that ATP Infrastructure Partners LP could
be liable for a far greater penalty under the Clean Water Act,
noting the suit alleges oil discharges occurred daily from October
2010.

The case is United States of America v. ATP Oil & Gas Corporation
et al., Case No. 2:13-cv-00262 (E.D. La.), before Judge Nannette
Jolivette Brown.

                        About ATP Oil

Houston, Texas-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused
in the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt,
APC serve as special counsel.  Opportune LLP is the financial
advisor and Jefferies & Company is the investment banker.
Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York Mellon
Trust Co. as agent.  ATP's other debt includes $35 million on
convertible notes and $23.4 million owing to third parties for
their shares of production revenue.  Trade suppliers have claims
for $147 million, ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley &
McCloy, in New York, represents the Creditors Committee as
counsel.

A seven-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.


ATP OIL: US Tells Judge to Ignore Objections, OK Deal
-----------------------------------------------------
Law360 reported that the federal government urged a Texas
bankruptcy judge to overrule creditors' objections and approve a
settlement releasing bankrupt ATP Oil and Gas Corp. from a $61
million administrative claim in exchange for dropping a $70 million
claim against the government for lost profits following a
post-Deepwater Horizon drilling moratorium.

According to the report, in a motion to compromise controversy with
the U.S., through the U.S. Department of the Interior and the U.S.
Environmental Protection Agency, ATP's Chapter 7 trustee, Rodney
Tow, asked the judge in December to approve the settlement.

                        About ATP Oil

Houston, Texas-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused
in the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt,
APC serve as special counsel.  Opportune LLP is the financial
advisor and Jefferies & Company is the investment banker.
Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York Mellon
Trust Co. as agent.  ATP's other debt includes $35 million on
convertible notes and $23.4 million owing to third parties for
their shares of production revenue.  Trade suppliers have claims
for $147 million, ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley &
McCloy, in New York, represents the Creditors Committee as
counsel.

A seven-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.


B. ENDEAVOUR SHIPPING: Recognition Hearing Set for March 5
----------------------------------------------------------
The hearing to consider approval of Peter Kubik and Andrew
Andronikou's petition for recognition of B. Endeavour Shipping
Company Limited's insolvency proceeding in the United Kingdom as a
"foreign main proceeding" under Chapter 15 of the U.S. Bankruptcy
Code will be held on March 5, 2015, at 9:45 a.m.

                        About B. Endeavour

B. Endeavour Shipping Company is a company incorporated in Cyprus
whose sole asset is a 62,000 deadweight tonnage Panamax Tanker
named "Ice Base," valued at approximately $28.1 million.  Ice Base
transports liquid natural gas and oil and operates principally in
the territorial waters of the United States, including New York
harbor.

B. Endeavour is a unit of Baltic Tankers Holding Ltd., which owns
five other Cyprus companies, each of which owns a 37,000 DWT
product carrier that operates principally in the waters of Europe
and the Baltic area.  Baltic Tankers is owned by Northsea Base
Investment (NSBI).  Hamilton Corporation, NSBI's sole shareholder,
is owned by certain family trusts.  Marine Cross Services Limited,
a London-based shipping agent, handles day-to-day financial
administration and management.

On Jan. 15, 2015, B. Endeavour and its five affiliates were placed
into administration in London, England after defaulting on debt to
BNP Paribas S.A.  Peter Kubik and Andrew Andronikou of UHY Hacker
Young LLP, were appointed joint administrators.  Felicity Toube QC
serves as counsel.

The joint administrators on Feb. 3, 2015, filed a Chapter 15
bankruptcy petition (Bankr. S.D.N.Y. Case No. 15-10246) for B.
Endeavour in Manhattan, in New York, to seek U.S. recognition of
the UK proceeding.  Judge Robert E. Gerber presides over the case.
Geoffrey T. Raicht, Esq., at Proskauer Rose LLP, serves as counsel
in the U.S. case.


BATE LAND & TIMBER: BLC Wants Ch. 11 Trustee or Conversion
----------------------------------------------------------
Bate Land Company, LP ("BLC") is asking the Bankruptcy Court to
enter an order appointing a chapter 11 trustee in the case filed by
Bate Land & Timber, LLC, or, in the alternative, an order
converting the case to one under chapter 7 of the Bankruptcy Code.

"In this case, the Debtor's conveyance of eight tracts of land to
BLC has not been approved by this Court, was done without notice or
hearing, is in direct violation of the Bankruptcy Code, and
therefore constitutes cause to appoint a chapter 11 trustee,"
Trawick H. Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., counsel to
BLC tells the Court.

On Jan. 15, 2015, the Court entered an Order, regarding the Amended
Plan, which provided as:

    (1) the debtor has satisfied the requirements of Sec.
        1129(a);

    (2) the fair market value of the Broad Creek tract is
        $3,143,000 and the fair market value of the Bay
        River/Smith Creek tract is $5,700,000;

    (3) the allowed secured claim of BLC is between
        $14,931,823.06 and $15,411,284.12;
  
    (4) the court cannot determine whether the plan complies with
        Sec. 1129(b) until the debtor identifies additional
        tracts to surrender and/or opts to amortize the remaining
        amount of the secured claim of BLC;

    (5) the motion for relief from stay is denied, and

    (6) a hearing will be scheduled to determine the amount of
        BLC's secured claim.

BLC's counsel relates that between 24 hours and one week of the
filing of the Order, unbeknownst to BLC, the Debtor took the
following actions, which were neither authorized, nor approved by,
the Court:

   A. On or about Jan. 16, 2015, the Debtor executed a
      Ratification of Prior Special Warranty Deed (the
      "Ratification"), which was subsequently filed on January
      16, 2015, in Book 598, Page 439 of the Pamlico County
      Registry, which ratified the prior Prepetition Special
      Warranty Deed that was set aside by this Court pursuant to
      its Deed Order entered on December 4, 2013.

   B. On or about Jan. 16, 2015, the Debtor executed a Non-
      Warranty Deed, which was subsequently filed in Book 598,
      Page 443 of the Pamlico County Registry (the "Pamlico Non-
      Warranty Deed"), under which the Debtor purportedly
      conveyed two tracts of real property—commonly referred to
      as Broad Creek and Bay-River/Smith Creek—to BLC "in full or

      partial satisfaction of the debt owed . . . pursuant to the
      Order[.]"

   C. On or about Jan. 21, 2015, and on behalf of the Debtor, OFC
      electronically submitted a Non-Warranty Deed that was
      subsequently recorded in Book 3330, Page 744 of the Craven
      County Registry (the "Craven Non-Warranty Deed"), under
      which the Debtor purports to convey a tract of real
      property, containing 348.58 acres +/- and located in Craven
      County, North Carolina, PIN 7-102-001—commonly referred to

      as "Laura Williams"—to BLC "in full or partial satisfaction

      of the debt owed . . . pursuant to the Order[.]"

   D. On or about Jan. 21, 2015, and on behalf of the Debtor, OFC
      electronically submitted a Non-Warranty Deed that was
      subsequently recorded in Book 598, Page 503 of the Pamlico
      County Registry (the "Pamlico Multi-Tract Non-Warranty
      Deed"), under which the Debtor purports to convey the
      following tracts of real property located in Pamlico County
      to BLC "in full or partial satisfaction of the debt owed .
      . . pursuant to the Order[:]"

       I. Harold H. Bate Tract # 62 (New River Wood Corporation),
          PIN K06-51, containing 111.81 +/- acres.

      II. Harold H. Bate Tract #57.1 (Silverthorne), PIN L08-19,
          containing 155.83 +/- acres.

     III. Harold H. Bate Tract #42 (Silverthorne), PIN K06-52,
          containing 63.36 +/- acres.

      IV. Harold H. Bate Tract #8 (Messick), PIN I08-28,
          containing 63.36 +/- acres.

   E. On or about Jan. 21, 2015, the Debtor submitted a Non-
      Warranty Deed that was subsequently recorded in Book 1863,
      Page 193 of the Beaufort County Registry (the "Beaufort
      Non-Warranty Deed"), under which the Debtor purports to
      convey a tract of real property, containing 167.5 +/- acres
      in Beaufort County, North Carolina, PIN 7-102-001—commonly

      referred to as "Louise McCotter"—to BLC "in full or partial

      satisfaction of the debt owed . . . pursuant to the
      Order[.]"

According to Mr. Stubbs, the Debtor's conduct was not authorized by
the Court's Jan. 15, 2015 Order, as the Order specifically declined
to confirm the Debtor's Plan, instead inviting the Debtor to
designate additional properties it wished to surrender, or
establish the amount of debt it wished to amortize.  Nothing in the
order authorized the Debtor to convey any property to BLC.

As a result of this conveyance, the Debtor has conveyed estate
property which the Court determined has a fair market value of
$8,843,000, plus six additional tracts that the Court did not
value, that may have a total fair market value between $910,000 and
$6,310,000, based on the appraisals presented by BLC and the Debtor
at the hearings on confirmation of the Debtor's Plan.

BLC asserts that the Debtor's blatant violation of the Bankruptcy
Code shows that the Debtor is no longer trustworthy when dealing
with property of the estate or compliance with the rules all
debtors must live by when in chapter 11.

In the alternative, BLC wants the cases converted to Chapter 7
liquidation.

Mr. Stubbs notes that the Post-petition Conveyances were contrary
to the Bankruptcy Code, specifically Sections 363 and 549, any
variation of the Amended Plan proposed by the Debtor would not
comply with Sec. 1129(a)(2), which requires that "[t]he proponent .
. . compl[y] with the applicable provisions of this title." 11
U.S.C. Sec. 1129(a)(2).  As a result, he continues, there is no
prospect of reorganization, which demonstrates the Debtor's
inability to effectuate a plan of reorganization under Sec.
1112(b)(4)(M).

BLC is represented by:

         STUBBS & PERDUE, P.A.
         Trawick H. Stubbs, Jr., Esq.
         Laurie B. Biggs, Esq.
         Joseph Z. Frost, Esq.
         9208 Falls of Neuse Road, Suite 201
         Raleigh, North Carolina 27615
         Tel: (919) 870-6258
         Fax: (919) 870-6259
         E-mail: tstubbs@stubbsperdue.com
                 lbiggs@stubbsperdue.com
                 jfrost@stubbsperdue.com

                    About Bate Land & Timber

Willotte, North Carolina-based Bate Land & Timber, LLC, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr.
E.D.N.C. Case No. 13-04665) on July 25, 2013.  Judge Stephani W.
Humrickhouse oversees the Chapter 11 case.

The Debtor, in amended schedules, disclosed $53,477,624 in assets
and $74,162,211 liabilities as of the Chapter 11 filing.  The
petition was signed by Brad Cheers, manager.

The Bankruptcy Administrator for the Eastern District of North
Carolina was unable to organize and recommend the appointment of a
committee of creditors holding unsecured claims against the
Debtor.


BAYOU SHORES: U.S. Appeal of Ch. 11 Plan Lives On
-------------------------------------------------
Law360 reported that a Florida federal judge denied a nursing
home's motion to dismiss consolidated appeals challenging its
Chapter 11 plan filed by U.S. health care regulators, and denied an
emergency motion from the government to stay the bankruptcy plan.

According to the report, U.S. District Judge James S. Moody Jr.
ruled that his Jan. 6 order affirming the Florida Agency for Health
Care Administration's motion to consolidate two appeals against
Bayou Shores SNF LLC rendered their attempt to dismiss the suits
moot.

The Troubled Company Reporter previously reported that Bayou Shores
SNF LLC, which operates a Florida nursing home targeted for lapses
in patient care, said that U.S. health regulators' appeal of its
Chapter 11 plan should be dismissed, saying the issues presented
are moot since the plan has been confirmed and substantially
consummated.  The nursing home said in a motion before the U.S.
District Court for the Middle District of Florida that the Jan. 9
effective date of its bankruptcy plan invalidates controversies
over Medicare and Medicaid provider agreements, and any change over
the agreements could harm residents.

U.S. Bankruptcy Judge Michael Williamson in Florida said bankruptcy
law does not prohibit state regulators from exercising regulatory
powers by revoking a nursing home's license or refusing to renew it
despite previously saving the same nursing home from being closed
by the federal Medicare and Medicaid programs.  Judge Williamson
explained the diverging results, saying the federal regulators were
only trying to stop funding.  The state, by terminating the
license, intends to exercise regulatory powers, the judge said.

Judge Williamson has allowed the Florida nursing home to implement
its reorganization plan unless a federal district judge intercedes
on behalf of the federal Medicare and Medicaid programs.  Medicare
and Medicaid appealed plan approval, on top of a pending appeal
from an order compelling continuation of funding.

The district court case is Agency for Health Care Administration
v.
Bayou Shores SNF LLC, Case No. 8:14-cv-02816 (M.D. Fla.), before
Judge James S. Moody, Jr.

                        About Bayou Shores

Bayou Shores SNF LLC, c/o Rehabilitation Center of St. Petersburg,
filed for Chapter 11 bankruptcy (Bankr. M.D. Fla. Case No.
14-09521) on Aug. 15, 2014, in Tampa.  Elizabeth A Green, Esq., at
Baker & Hostetler LLP, serves as the Debtor's counsel.  In its
petition, the Debtor estimated assets and liabilities of $1
million to $10 million.  The petition was signed by Tzvi
Bogomilsky, managing member.

The Troubled Company Reporter, on Jan. 13, 2015, reported that the
Rehabilitation Center of St. Petersburg nursing home has emerged
from bankruptcy -- despite protests from Medicare officials --
after a bankruptcy judge agreed it fixed record-keeping and
patient care problems.


BERNARD L. MADOFF: Ex-Aide Slams Feds' "Godfather" Remark
---------------------------------------------------------
Law360 reported that former Bernie Madoff aide Daniel Bonventre
urged a Second Circuit panel to let him remain free on bail while
he appeals his conviction and 10-year prison sentence over the
historic Ponzi scheme, arguing in part that a prosecutor had
unfairly compared him and other defendants to characters in "The
Godfather."

According to the report, during oral arguments in Manhattan court,
defense attorney Andrew Frisch said the government had failed to
prove during a six-month trial that Bonventre and four other former
Madoff aides knew about the fraud.

                     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.



BINDER & BINDER: U.S. Trustee Trims Credtiors Panel to 4 Members
----------------------------------------------------------------
William K. Harrington, United States Trustee for Region 2, pursuant
to Sections 1102(a) and (b) of title 11, United States Code, on
Jan. 30, 2015, served a notice of appointment of the reconstituted
Official committee of unsecured creditors of Binder & Binder -- The
National Social Security Disability Advocates (NY), LLC, et al. and
affiliated debtors.  The new list of Committee members no longer
includes Stellus Capital Investment Corporation.

The reconstituted panel has these members:

      1. United Service Workers Union
         Local 455 IUJAT & Related Funds
         Attn: Vincent Dippolito
         138-50 Queens Boulevard
         Briarwood, NY 11435
         Tel: (718) 658-4848 ext. 1255
         Fax: (718) 523-4732

      2. T&G Industries, Inc.
         Attn: Edmund J. Carroll, CFO/COO
         120 Third Street
         Brooklyn, NY 11231
         Tel: (718) 237-0060
         E-mail: ecarroll@tgioa.com

      3. WB Mason Co.
         Attn: Lisa Fiore, Recovery Specialist
         59 Centre Street
         Brockton, MA 02301
         Tel: (508) 436-8365
         E-mail: Lisa.Fiore@WBMason.com

      4. Teaktronics, Inc.
         Attn: Roger Zheng, vice president
         220 Jericho Turnpike
         Mineola, NY 11501
         Tel: (516) 741-8001
         Fax: (516) 741-8002
         E-mail: rogerz@teaktronics.com

                     About Binder & Binder

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

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

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

A four-member panel serves as Official Committee of Unsecured
Creditors in the Debtors' cases.


BRIAR'S CREEK GOLF: Files for Ch. 11 with $37M Debt
---------------------------------------------------
Briar's Creek Golf, LLC, sought Chapter 11 protection (Bankr. D.
S.C. Case No. 15-00712) in Charleston, South Carolina, on Feb. 9,
2015.

The Debtor owns The Golf Club at Briar's Creek, in Johns Island,
South Carolina.  The Debtor disclosed that the property's value is
unknown and the property secures $6.74 million of debt.  Secured
creditors Edward L. Myrick Sr. and South Coast Community Bank are
owed $3.89 million and $2.85 million.

The Debtor filed its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                   Unknown
  B. Personal Property            $1,564,073
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $6,741,724
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $129,936
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $30,235,738
                                 -----------      -----------
        TOTAL                     $1,564,073      $37,107,398

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

         http://bankrupt.com/misc/scb15-00712_SAL.pdf

The deadline for filing claims by governmental entities is Aug. 10,
2015.

G. William McCarthy, Jr., Esq., in Columbia, South Carolina, serves
as counsel.


BRIAR'S CREEK GOLF: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Briar's Creek Golf, LLC
           dba The Golf Club at Briar's Creek
        4000 Briar's Creek Lane
        John's Island, SC 29455

Case No.: 15-00712

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Debtor's Counsel: G. William McCarthy, Jr., Esq.
                  MCCARTHY LAW FIRM, LLC
                  1517 Laurel Street (29201)
                  PO Box 11332
                  Columbia, SC 29211-1332
                  Tel: (803) 771-8836
                  Fax: 803-753-6960
                  Email: bmccarthy@mccarthy-lawfirm.com

Estimated Assets: $10 million to $50 million

Total Liabilities: $37.1 million

The petition was signed by Michael S. Martin, member.

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


BUILDING #19: Creditors Committee's Lawyer Sets Up Own Law Firm
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Building #19, Inc.
and its affiliated debtors seeks approval from the Bankruptcy Court
to retain the law firm Jeffrey D. Sternklar LLC ("JDSLLC") and
Jeffrey D. Sternklar as its counsel in connection with the Debtors'
Chapter 11 cases, nunc pro tunc to January 12, 2015.

On Nov. 14, 2013, pursuant to Section 1103(a) of the Bankruptcy
Code, the Committee selected Duane Morris LLP to serve as its
counsel.  By order of the Court dated Dec. 11, 2013, the Court
authorized the Committee to retain Duane Morris as its general
counsel in the case nunc pro tunc to Nov. 14, 2013.  Duane Morris
provided legal services and representation to the Committee
pursuant to the DM Retention Order continuously since Nov. 14,
2013.

The attorney at Duane Morris principally responsible for providing
services to the Committee was Jeffrey D. Sternklar. Mr. Sternklar
was a partner at Duane Morris at all relevant times.  Mr. Sternklar
withdrew as a partner from Duane Morris as of Jan. 9, 2015, and now
now practices law at JDSLLC.

Mr. Sternklar's hourly billing rate at JDSLLC is $400, which is
almost half the billing rate charged by Duane Morris for Mr.
Sternklar's time in 2015.  While Mr. Sternklar's hourly rate may be
subject to periodic adjustments (typically as of Jan. 1 of each
calendar year) to reflect economic and other conditions, the
Committee nevertheless anticipates that the costs of Mr.
Sternklar's services will be reduced substantially from the costs
incurred for Mr. Sternklar's services at Duane Morris.

It is possible that Mr. Sternklar may use the services of a
paralegal or assistant in this case. Mr. Sternklar intends to
charge the hourly rate of $200 for the services of the paralegal.

Mr. Sternklar attests that he and JDSLLC do not represent and do
not hold any interest adverse to the Debtor's estate or its
creditors in the matters upon which he is to be engaged.

                     About Building #19, Inc.

Building #19, Inc., and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code on Nov. 1, 2013 (Bankr. D. Mass.
Case No. 13-16429).  The other debtors are (a) Paperworks #19,
Inc., Case No. 13-16430; (b) Beth's Basics, Inc., Case No.
13-16433; (c) Furniture #19, Inc., Case No. 13-16431; (d) PB&J
Kids #19, Inc., Case No. 13-16434; and (e) Footwear #19 Plus, Inc.
Case No. 13-16432.

Donald Ethan Jeffery, Esq., and Harold B. Murphy, Esq., at Murphy
& King, Professional Corporation, in Boston, Massachusetts, serve
as the Debtors' bankruptcy counsel. The Tron Group, LLC, serve as
their financial advisers.

The U.S. Trustee for Region 1 appointed five members to the
official committee of unsecured creditors.  Newburg & Company LLP
is the
financial advisors to the Committee.



CACHE INC: Court Issues Joint Administration Order
--------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware issued an order authorizing joint administration for
procedural purposes only the Chapter 11 cases of Cache, Inc., Cache
of Las Vegas, Inc., and Cache of Virginia, Inc., under lead case
no. 15-10172.

                        About CACHE Inc.

Cache, Inc., operates 236 women's apparel specialty stores under
the trade name "Cache."  On Dec. 4, 2014, New York-based Cache
announced that it has received an inquiry from a third party
regarding a potential sale of the Company.

Cache, Inc., and its two affiliates sought protection under Chapter
11 of the Bankruptcy Code on Feb. 4, 2015 (Bankr. D.Del. Lead Case
No. 15-10172).  The case is assigned to Judge Mary F. Walrath.

The Debtors are represented by Laura Davis Jones, Esq., Peter J.
Keane, Esq., and Colin R. Robinson, Esq., at Pachulski Stang Ziehl
& Jones LLP, in Wilmington, Delaware.  The Debtors' restructuring
advisors is FTI Consulting Inc., while their investment banker and
financial advisor is Janney Montgomery Scott LLC.  Thompson Hine
represents the Debtors in corporate and securities matter, while
Jackson Lewis P.C. represents the Debtors in employment matters.
The Debtors' communications services provider is Epiq Systems,
Inc., while their noticing and claims management services provider
is Kurtzman Carson Consultants.  A&G Realty Partners, LLC, serves
as the Debtors' real estate consultants.

The Debtors had total assets of $53.7 million and total liabilities
of $51.1 million as of Sept. 27, 2014.


CAESARS ENTERTAINMENT: External Panel to Rule on Default Insurance
------------------------------------------------------------------
Sridhar Natarajan at Insurance Journal reports that a three- person
external review panel will decide whether investors who purchased
default insurance should get paid from contracts that expired
almost a month before Caesars Entertainment Operating Company,
Inc., filed for Chapter 11 bankruptcy.

Insurance Journal relates that the suspension of payments on a
portion of the debt obligations due on Dec. 15, 2014, has called
into question the fate of credit-default swaps that were set to
expire during the interim period.  The Panel, says Insurance
Journal, will determine whether payouts were triggered in December,
which would ensure payment for holders of swaps expiring on Dec. 20
along with the rest of the contracts.

According to Insurance Journal, the Panel has been called on to
deliver a ruling after a committee of bond traders that determines
the cases failed to deliver a conclusive ruling.  

Insurance Journal quoted CreditSights Inc. analyst Chris Snow as
saying, "The bankruptcy triggered all the CDS that expired post-
December without any controversy.  Now everyone's just waiting to
see what happens on those December swaps."

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino
companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.  Harrah's
announced its re-branding to Caesar's in mid-November 2010.  

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 billion in total liabilities and a $3.71
billion total deficit.

In January 2015, Caesars Entertainment and subsidiary CEOC
announced that holders of more than 60% of claims in respect of
CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior
secured notes due 2020 and CEOC's 9% senior secured notes due 2020
have signed the Amended and Restated Restructuring Support and
Forbearance Agreement, dated as of Dec. 31, 2014, among Caesars
Entertainment, CEOC and the Consenting Creditors.  As a result,
The RSA became effective pursuant to its terms as of Jan. 9, 2015.

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

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

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


CAESARS ENTERTAINMENT: Swaps Payout Denied by ISDA Panel
--------------------------------------------------------
Sridhar Natarajan, writing for Bloomberg News, reported that a
three-person review panel appointed by the International Swaps &
Derivatives Association denied payouts on contracts tied to Caesars
Entertainment Corp. that expired before the casino operator's
largest unit filed for bankruptcy in January.

According to Bloomberg, the arbitration board ruled that a
so-called "failure to pay" credit event had not been triggered
prior to Dec. 20, the day the credit-default swaps in question
expired, by the company's decision earlier that week to skip debt
payments.

Law360 reported that the ISDA released four briefs filed on both
sides of the question of whether CEOC triggered some $1.7 billion
in credit-default swaps by failing to pay junior bondholders in
December.  According to Law360, Boies Schiller & Flexner LLP and
Stroock Stroock & Lavan LLP each filed a brief arguing to the
affirmative, that Caesars did in fact trigger a CDS event in
December, while Milbank Tweed Hadley & McCloy LLP said the company
triggered a CDS event.

Bloomberg said the independent review group was called on for only
the second time in the history of the credit-swaps marketplace
after a 15-firm ISDA committee of bond traders that normally
determines such cases failed to reach the 80 percent voting
majority required to resolve the matter.  The arbitration verdict
clears the way for an auction that will determine payouts for the
remainder of the swaps after the ISDA committee ruled unanimously
on Jan. 16 that Caesars's decision to file for protection that
month triggered payments on those contracts, Bloomberg noted.

                   About Caesars Entertainment

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

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

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 billion in total liabilities and a $3.71
billion total deficit.

In January 2015, Caesars Entertainment and subsidiary CEOC
announced that holders of more than 60% of claims in respect of
CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior
secured notes due 2020 and CEOC's 9% senior secured notes due 2020
have signed the Amended and Restated Restructuring Support and
Forbearance Agreement, dated as of Dec. 31, 2014, among Caesars
Entertainment, CEOC and the Consenting Creditors.  As a result,
The RSA became effective pursuant to its terms as of Jan. 9, 2015.

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

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

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


CAESARS ENTERTAINMENT: UST Forms 7-Member Noteholder Committee
--------------------------------------------------------------
U.S. Trustee Patrick S. Layng appointed seven noteholders to serve
in the Official Committee of Second Priority Noteholders in the
Chapter 11 cases of Caesars Entertainment Operating Company, Inc.,
et al.:

      1. Wilmington Savings Fund Society, FSB
         Attn: Patrick J. Healy
         500 Delaware Avenue
         Wilmington, DE 19801

      2. BOKF, N.A.
         Attn: George F. Kubin
         One Williams Center, 10SW
         Tulsa, OK 74103

      3. Delaware Trust Company
         Attn: Sandra E. Horwitz
         2711 Centerville Road
         Wilmington, DE 19808

      4. Tennenbaum Opportunities Partner V, LP
         David Hollander
         2951 28th St., Suite 1000
         Santa Monica, CA 90405

      5. Centerbridge Credit Partners Master LP
         Attn: Vivek Melwani
         375 Park Avenue, 12th floor
         New York, NY 10152

      6. Palomino Fund Ltd
         Attn: James Bolin
         51 John F. Kennedy Pkwy.
         Short Hills, NJ 07078

      7. Oaktree FF Investment Fund LP
         Attn: Kenneth Liang
         333 S. Grand Ave, 28th Floor
         Los Angeles, CA 90071

                   About Caesars Entertainment

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

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

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 billion in total liabilities and a $3.71
billion total deficit.

In January 2015, Caesars Entertainment and subsidiary CEOC
announced that holders of more than 60% of claims in respect of
CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior
secured notes due 2020 and CEOC's 9% senior secured notes due 2020
have signed the Amended and Restated Restructuring Support and
Forbearance Agreement, dated as of Dec. 31, 2014, among Caesars
Entertainment, CEOC and the Consenting Creditors.  As a result,
The RSA became effective pursuant to its terms as of Jan. 9, 2015.

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

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

As reported in the Troubled Company Reporter on Feb. 4, 2015, the
bankruptcy proceedings of will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois, Delaware Bankruptcy Judge
Kevin Gross ruled.

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



CENTRAL OKLAHOMA: Gets Court's Nod for BKD LLP as Auditor
---------------------------------------------------------
Central Oklahoma United Methodist Retirement Facility, Inc. dba
Epworth Villa obtained permission from the U.S. Bankruptcy Court
for the Western District of Oklahoma to employ BKD, LLP, for audit
and tax services.

As reported in the Feb. 5, 2015 edition of the TCR, Epworth Villa
tapped BKD LLP as auditor to audit its balance sheets as of Dec.
31, 2014 and the related statements of operations, changes in net
assets, and cash flows for the year 2014, and to prepare its 2014
Form 990, Return of Organization Exempt From Income Tax, Form
990-T, Exempt Organization Business Income Tax Return, and Form
512-E, Oklahoma Return of Organization Exempt Form Income Tax.

BKD LLP will provide the audit services for a flat rate of $28,950
and the tax preparation services at a flat rate of $5,550, to be
paid in three equal installments in January 2015, March 2015, and
May 2015, when BKD's services are expected to be completed.  In
addition, Epworth Villa will be billed travel costs and fees for
services from other professionals, if any, as well as an
administrative fee of 4% to cover items such as copies, postage
and
other delivery charges, supplies, technology-related costs such as
computer processing, software licensing, research and library
databases and similar expense items.

Kevin D. Gore, partner of BKD LLP, 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.

BKD LLP can be reached at:

       Kevin D. Gore
       BKD, LLP
       Two Warren Place
       6120 S. Yale Avenue, Suite 1400
       Tulsa, OK 74136-4223
       Tel: (918) 584-2900
       E-mail: kgore@bkd.com

              About Central Oklahoma United Methodist

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

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

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



CHICAGO H&S: 7th Cir. Revives Withdrawal Liability Claim v Oaktree
------------------------------------------------------------------
The United States Court of Appeals for the Seventh Circuit revived
the claims of The National Retirement Fund for withdrawal liability
against either Hotel 71 Mezz Lender LLC ("Mezz Lender") and Oaktree
Capital Management, L.P. ("Oaktree").

In 2014, the District Court for the Northern District of Illinois
denied a motion for summary judgment filed by NRF and tossed NRF's
claims against Mezz Lender and Oaktree.

NRF and its trustees seek to hold Mezz Lender and Oaktree
responsible for multiemployer pension fund withdrawal liability
pursuant to section 4201 of the Multiemployer Pension Plan
Amendments Act of 1980 ("MPPAA"), 29 U.S.C. Sec. 1381. Oaktree,
through Mezz Lender, provided financing for the acquisition of a
hotel by Chicago H&S Hotel Property LLC.  When H&S later defaulted
on the loan, it was taken into bankruptcy and the hotel was
liquidated.  NRF contends that the sale of the hotel triggered
withdrawal liability on the part of H&S and any other "trade or
business" under common control with it -- including both Oaktree
and Mezz Lender.

Oaktree and Mezz Lender contend that the claim of withdrawal
liability -- whatever its merits -- is barred by the bankruptcy
reorganization plan pursuant to which the hotel was sold.

Oaktree and Mezz Lender filed suit in district court seeking a
declaratory judgment that the reorganization plan released any
claim of withdrawal liability arising from H&S's actions in the
Chapter 11 proceeding, including the sale of its assets, and
enjoined NRF from pursuing any claim of withdrawal liability
against either Oaktree or Mezz Lender.

The Seventh Circuit opined, "The price a litigant pays for filing a
flawed or unconvincing motion for summary judgment ordinarily is
denial of the motion, not loss of the case. But the district court
in this case appears to have treated the lack of sufficient
evidentiary support for the motion as a reason to enter summary
judgment against the movant. . . .  The court did so in the absence
of a crossmotion for summary judgment on the issue that it found to
be dispositive, and without first giving the unsuccessful movant
notice that it was entertaining the possibility of entering summary
judgment against it or the opportunity to respond. Because we are
not convinced that the movant had no plausible arguments to make in
opposition to an adverse grant of summary judgment, we vacate the
judgment and return the case to the district court for further
proceedings."

The appellate case is, HOTEL 71 MEZZ LENDER LLC, a Delaware limited
liability company, et al., Plaintiffs/Counter-Defendants-Appellees,
v. THE NATIONAL RETIREMENT FUND,
Defendant/Counter-Claimant-Appellant, and THE TRUSTEES OF THE
NATIONAL RETIREMENT FUND, Counter-Claimant-Appellant, No. 14-2034
(7th Cir.).  A copy of the Seventh Circuit's February 6, 2015
decision is available at http://bit.ly/16Kgh3ufrom Leagle.com.

                         About Chicago H&S

Chicago H&S in 2005 purchased Hotel 71, a 40-story, 437-guestroom,
full service hotel located at 71 East Wacker Drive in Chicago,
Illinois.  Chicago H&S borrowed heavily to finance this
acquisition, including $100 million as a senior mortgage loan as
well as a $27.3 million mezzanine loan.  Oaktree, through Hotel 71
Lender, provided financing for the Mezz loan.

Based in Chicago, Illinois, Chicago H&S Hotel Property, LLC, dba
Hotel 71, owns and operates a 40-story, 437 guestroom full service
hotel.  The Company filed for Chapter 11 protection on Oct. 29,
2007 (Bankr. N.D. Ill. Case No. 07-20088).  Charles R. Gibbs, Esq.
at Akin Gump Strauss Hauer & Feld LLP, and Daniel A. Zazove, Esq.,
and Jason D. Horwitz, Esq., at Perkins Coie LLP, represented the
Debtor in its restructuring efforts.  The Official Committee of
Unsecured Creditors in the Debtor's case chose Polsinelli Shalton
Flanigan Suelthaus P.C. as its counsel.  The Debtor's schedules
reflect total assets of $133,553,529, and total liabilities of
$106,862,713.


CLEANTECH SOLUTIONS: Case Summary & 3 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: CleanTech Solutions World Wide, L.L.C.
        P.O. Box 1127
        Cottonport, LA 71327

Case No.: 15-80160

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       Western District of Louisiana (Alexandria)

Judge: Hon. Henley A. Hunter

Debtor's Counsel: Thomas R. Willson, Esq.
                  THOMAS R. WILLSON
                  P. O. Drawer 1630
                  Alexandria, LA 71309-1630
                  Tel: (318) 442-8658
                  Fax: 318-442-9637
                  Email: rocky@rockywillsonlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lloyd D. Ward, managing member.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/lawb15-80160.pdf


COGENT COMMUNICATIONS: Moody's New Rates $245MM Secured Notes 'B1'
------------------------------------------------------------------
Moody's Investors Service has assigned a B1 rating to Cogent
Communications Group, Inc.'s proposed $245 million Senior Secured
Notes due 2022. The net proceeds from this offering will be used to
finance the redemption of all of Cogent's existing 8.375% Senior
Secured Notes due 2018. Cogent expects to use the remaining
proceeds, if any, for general corporate purposes.

Assignments:

Issuer: Cogent Communications Group, Inc.

Senior Secured Notes, Assigned B1 (LGD2)

Ratings Rationale

Cogent's B3 Corporate Family Rating is supported by a very strong
liquidity profile and Moody's expectation for low double digit
revenue growth and modest margin expansion from a growing and
diverse customer base. The company's low cost structure and
targeted niche sales approach make it a strong competitor against
much larger companies which have higher legacy cost structures. The
rating is constrained by limited free cash flow as a result of
increasing shareholder returns, relatively high leverage, its small
scale and a highly competitive environment.

The stable outlook is based on Moody's views while the company's
earnings and cash flows will grow, shareholder returns will
increase in tandem. Moody's expects the company will maintain
sufficient liquidity and debt levels will remain relatively
constant. Cogent's low cost structure and niche sales approach, in
conjunction with its increasingly aggressive dividend policy, will
prevent the company from generating meaningful positive free cash
flow for the near future.

Upward rating pressure could build if Cogent demonstrates the
ability to sustain free cash flow in excess of 5% of total debt and
maintain adjusted leverage at or below 4x, which would likely
result from better than expected operating performance.

Downward rating pressure could develop if adjusted leverage trends
towards 5.5x-6.0x, which may result from top line weakness due to
an acceleration in price decline or higher customer churn. Also,
any deterioration in liquidity could have negative ratings
implications, especially without a revolving credit facility as a
stopgap.

The principal methodology used in this rating was Global
Telecommunications Industry published in December 2010. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Cogent, with headquarters in Washington, DC, is a multinational
Tier 1 Internet service provider. The Company offers Internet
access and data transport over its fiber optic, IP network. Cogent
also offers colocation via 49 Internet Data Centers and serves
business and service provider companies with Ethernet-over-fiber
services for Internet access. The company generated $373 million in
revenues for the last twelve months ended 9/30/14.



COGENT COMMUNICATIONS: S&P Rates $245MM Sr. Secured Notes 'B+'
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating and '3' recovery rating to Cogent Communications Group
Inc.'s proposed $245 million senior secured notes due 2022.  The
'3' recovery rating indicates S&P's expectation for meaningful
recovery (50%-70%; midpoint of range) for noteholders in the event
of payment default.  Cogent will use proceeds to repay its exiting
8.375% $245 million senior secured notes due 2018.

The 'B+' corporate credit rating on Washington, D.C.-based Internet
service provider Cogent is unchanged and the outlook remains
stable.  The transaction is leverage neutral and S&P continues to
expect that adjusted leverage will be in the mid-4x area in 2015.
With leverage below 5x, and S&P's expectation for continued EBITDA
growth and stable free cash flow generation in 2015, S&P continues
to assess Cogent's financial risk profile as "aggressive."

RATINGS LIST

Cogent Communications Group Inc.
Corporate Credit Rating                  B+/Stable/--

New Rating

Cogent Communications Group Inc.
$245 mil. notes due 2022
Senior Secured                           B+
  Recovery Rating                         3



COLT DEFENSE: Refinances But Still Could Skip Interest Payment
--------------------------------------------------------------
Stpehanie Gleason, writing for Daily Bankruptcy Review, reported
that Colt Defense LLC has refinanced its $33 million credit
facility but the gun maker is continuing to warn that it's unlikely
to make a May interest payment to bondholders.

According to the report, the new financing is being provided by
Cortland Capital Market Services LLC and provides up to $7 million
in letters of credit, maturing in August 2018, according to
financial disclosures -- two years later than its original facility
from Wells Fargo Capital Finance matured.

                        About Colt Defense

Colt Defense LLC, headquartered in West Hartford, CT, manufactures
small arms weapons systems for individual soldiers and law
enforcement personnel for the U.S. military, U.S. law enforcement
agencies, and foreign militaries.  Post the July 2013 acquisition
of New Colt Holding Corp., the parent company of Colt's
MANUFACTURING COMPANY, the company also has direct access to the
commercial end-market for rifles, carbines and handguns.  Revenues
for the last twelve months ended June 30, 2014 totaled $243
million.

The Company's balance sheet at Sept. 28, 2014, showed $247 million
in total assets, $417 million in total liabilities and a
$170 million total deficit.

"As it is probable that we may not have sufficient liquidity to be
able to make our May 15, 2015 Senior Notes interest payment
without meeting our internal projections (including addressing our
Senior Notes), our long-term debt has been classified as current
in the consolidated balance sheet.  Currently we do not have
sufficient funds to repay the debt upon an actual acceleration of
maturity.  In the event of an accelerated maturity, our lenders
may take actions to secure their position as creditors and
mitigate their potential risks.  These events would adversely
impact our liquidity.  These factors raise substantial doubt about
our ability to continue as a going concern," the Company stated in
the quarterly report for the period ended Sept. 28, 2014.

                          *     *     *

As reported by the TCR on Nov. 17, 2014, Moody's Investors Service
downgraded Colt Defense LLC's Corporate Family Rating ("CFR") to
Caa3 from Caa2 and Probability of Default Rating ("PDR") to Caa3-
PD from Caa2-PD.  Concurrently, Moody's lowered the rating on the
company's $250 million senior unsecured notes to Ca from Caa3.
The downgrade was based on statements made by Colt Defense in its
November 12, 2014 Form NT 10-Q filing. In the filing the company
indicated that it expects to report a decline in net sales for the
three month period ended September 28, 2014 versus the same period
last year of approximately 25 percent together with a decline in
operating income of approximately 50 percent.

On Nov. 20, 2014, the TCR reported that Standard & Poor's Ratings
Services raised its corporate credit rating on U.S.-based gun
manufacturer Colt Defense LLC to 'CCC' from 'CCC-' and removed all
ratings from CreditWatch, where they were placed with negative
implications on Nov. 13, 2014.  "The upgrade reflects a reduced
likelihood of default in the coming months following a recent
refinancing that improved the company's liquidity profile
somewhat," said Standard & Poor's credit analyst Chris Mooney.


COTTONPORT MONOFILL: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Cottonport Monofill, L.L.C.
        P.O. Box 1127
        Cottonport, LA 71327

Case No.: 15-80159

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       Western District of Louisiana (Alexandria)

Judge: Hon. Henley A. Hunter

Debtor's Counsel: Thomas R. Willson, Esq.
                  THOMAS R. WILLSON
                  P. O. Drawer 1630
                  Alexandria, LA 71309-1630
                  Tel: (318) 442-8658
                  Fax: 318-442-9637
                  Email: rocky@rockywillsonlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lloyd D. Ward, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lawb15-80159.pdf


COUNTRY EXPLOSION: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Country Explosion, LLC
           aka Ghost Riders of the Purple Sage, LLC
        PO Box 987
        Duchesne, UT 84021-0987

Case No.: 15-20943

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: Hon. Kimball Mosier

Debtor's Counsel: Lee Rudd, Esq.
                  2321 S. Decker Lake Blvd (2300 W)
                  P.O. Box 57782
                  Salt Lake City, UT 84157
                  Tel: (801) 268-2808
                  Fax: (866) 724-6381
                  Email: leerudd@ruddlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Darren Brady, member-manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/utb15-20943.pdf


CRAIGHEAD COUNTY: US Trustee Unable to Form Creditors' Committee
----------------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 case of Craighead County
Fair Association said it wasn't able to form a committee of
unsecured creditors due to "lack of interest" of creditors to serve
on the panel.

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

                    About Craighead County Fair

Craighead County Fair Association filed a bare-bones Chapter 11
bankruptcy petition (Bankr. E.D. Ark. Case No. 14-15490) in
Jonesboro, Arkansas, on Oct. 13, 2014.

The Debtor, which is doing business as the Northeast Arkansas
District Fair, disclosed $26.7 million in assets and $9.83 million
in liabilities as of the Petition Date.  The case is assigned to
Judge Audrey R. Evans.


D & L ENERGY: Amends Schedules of Assets and Liabilities
--------------------------------------------------------
D & L Energy filed with the Bankruptcy Court for the Northern
District of Ohio an amended schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $36,032,400
  B. Personal Property            $4,583,277
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $1,373,565
  E. Creditors Holding
     Unsecured Priority
     Claims                                            $1,500
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $4,695,927
                                 -----------      -----------
        TOTAL                    $40,615,677       $6,070,992

The Debtor previously reported $40,615,677 in total assets, and
$6,227,217 in total liabilities.

A full-text copy of the amended schedules is available for free
at http://bankrupt.com/misc/D&LENERGY_Amended_SAL.pdf

                         About D & L Energy

D & L Energy, Inc., based in Youngstown, Ohio, was formed by David
DeChristofaro, Ben Lupo, and James Beshara in 1986 to be a
conventional oil and gas well operator and producer, primarily
targeting oil and gas reserves in the Clinton Sandstone formation
throughout Northeast Ohio and Northwest Pennsylvania.  D&L
currently has three (3) shareholders, Ben Lupo (80.76%
shareholder), Susan Faith (15% shareholder), and Holly Serensky
Lupo (4.24% shareholder).  Nicholas C. Paparodis is the acting CEO
and President of D&L.  Kathy Kaniclides is the acting Secretary and
Treasurer of D&L.  Currently, Serensky Lupo is the sole director of
D&L.

Petroflow, Inc. is an Ohio corporation which is a wholly owned
subsidiary of D&L.  Originally intended to operate as the "drilling
arm" of D&L, Petroflow ceased all operations prior to the filing of
these bankruptcy matters.  Petroflow has no current income, no bank
accounts, and no employees.  Paparodis is the president, CEO and
sole director of Petroflow.

D&L and Petroflow filed for Chapter 11 bankruptcy (Bankr. N.D. Ohio
Lead Case No. 13-40813) on April 16, 2013.  Judge Kay Woods
oversees the case.

The Debtor disclosed in its amended schedules, $40,615,677 in
assets and $6,187,217 in liabilities as of the Chapter 11 filing.

Brian T. Angeloni, Esq., Kathryn A. Belfance, Esq., Steven
Heimberger, Esq., and Todd A. Mazzola, Esq., at Roderick Linton
Belfance, LLP, serve as the Debtors' counsel, and Walter
Haverfield, LLP, is the environmental counsel.  SS&G Parkland
Consulting, LLC, serves as financial advisor and investment
banker.

Sherri Lynn Dahl, Esq., and Peter R. Morrison, Esq., at Squire
Sanders (US) LLP, have been tapped as counsel to the official
committee of unsecured creditors.  BBP Partners LLC serves as the
panel's financial advisors.

Resource Land Holdings emerged as the winning bidder for the
substantially all of the Debtor's assets.  Resource Land offered to
buy the assets for $20.4 million.


D&L CARON: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: D&L Caron, LLC
        312 Deming Street
        South Windsor, CT 06074

Case No.: 15-20181

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Hon. Albert S. Dabrowski

Debtor's Counsel: Patrick W. Boatman, Esq.
                  LAW OFFICES OF PATRICK W. BOATMAN, LLC
                  111 Founders Plaza, Suite 1000
                  East Hartford, CT 06108
                  Tel: 860-291-9061
                  Fax: 860-291-9073
                  Email: pboatman@boatmanlaw.com

Total Assets: $2.79 million

Total Liabilities: $1.67 million

The petition was signed by David A. Caron, member.

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


DELIA'S INC: Can Access $20 Million of DIP Financing
----------------------------------------------------
The Bankruptcy Court has authorized dELiA*s Inc. to access
revolving credit of up to an aggregate principal amount of
$20,000,000 from Salus Capital Partners, LLC, as administrative
and collateral agent for a consortium of lenders, and use cash
collateral securing their prepetition indebtedness.

The Debtors are parties to a credit agreement dated as of June 14,
2013, as a lender and as agent, of which $18.5 million is
outstanding as of the Petition Date.  On June 14, 2013, the
Debtors entered into a Letter of Credit Agreement with GE Capital,
of which $7.7 million is outstanding as of the Petition Date.

                        About DELIA*S INC.

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

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

As of the bankruptcy filing, dELiA*s owned and operated 92 stores
in 29 states.  As of the Petition Date, the Debtors had $47.0
million in total assets and $50.5 million in liabilities.

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.

The U.S. Trustee appointed a seven-member Official Committee of
Unsecured Creditors.  The Committee selected Kelley Drye & Warren
LLP as counsel and Capstone Advisory Group as financial advisors.

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.



DELIA'S INC: Floats $2.5M Stalking Horse Deal for Trademarks
------------------------------------------------------------
Law360 reported that investors that bought the Alloy Apparel line
from Delia's Inc. in 2013 now want the liquidating retailer's
trademarks too, offering $2.5 million to pick up the intellectual
property and possibly reunite the Delia's and Alloy brands,
according to court papers.

The report related that Delia's sought a bankruptcy judge's
blessing to sell off intellectual property assets at a Feb. 20
auction anchored by a lead bid from the Alloy owners.  If the
stalking horse is bested at auction, Delia's would pay a $75,000
breakup fee under the proposed bidding procedures.

                        About DELIA*S INC.

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

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

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

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

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

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

The Official Committee of Unsecured Creditors tapped to retain
Kelley Drye & Warren LLP as its counsel, and Capstone Advisory
Group, LLC, and Capstone Valuation Services, LLC, as financial
advisors.


DENDREON CORP: Valeant OK'd as Stalking Horse, Ups Bid to $400-Mil.
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
Valeant Pharmaceuticals International as stalking horse bidder for
Dendreon Corp.'s assets and authorized the bid protections in
connection with the sale of substantially all of the Debtors'
assets.

Valeant, in a corporate release, said it raised its offer for
Dendreon's assets to $400 million in cash in response to competing
bids.  The current offer, according to Bill Rochelle and Sherri
Toub, bankruptcy columnists for Bloomberg News, represented a 35%
increase from Valeant's original offer of $295 million in cash.
The price increase, the Bloomberg columnists said, was made in
order to ensure that Valeant retains its place as stalking horse,
which makes the first bid at the auction.  The Bloomberg columnists
also pointed out that the new price mean there's no reason for
Dendreon to proceed with a backup plan that would have made
convertible senior noteholders the new owners in exchange for
debt.

An auction is currently scheduled to take place on Feb. 12, 2015.
The sale hearing is scheduled for Feb. 20.

Bloomberg said on Feb. 6 that Dendreon shares rose as much as 46%
on news of the higher price.  Its $620 million in 2.875 percent
convertible notes due 2016 had climbed 19% by midday on Feb. 5 in
New York, Bloomberg added, citing Trace, the bond-price reporting
system of the Financial Industry Regulatory Authority.

                       About Dendreon Corp

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

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

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

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

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

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

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


DIGITAL DOMAIN: Mickey Mouse Loses 3rd Cir. Appeal on Patent Sale
-----------------------------------------------------------------
The United States Court of Appeals for the Third Circuit handed
defeat to Walt Disney Studios Motion Picture Production in its
appeal from a district court order, which affirmed a bankruptcy
court decision overruling Disney's objections to the sale of six
patents pursuant to Sections 363(b) and 365 of the Bankruptcy Code
in the Chapter 11 case of Digital Domain Media Group, Inc. nka DDMG
Estate.

The Third Circuit said the sale was not subject to a broad license
to the patents beyond the G-Force film.

On April 18, 2008, Disney and In Three, Inc. agreed that In Three
would perform 3D conversion services for the film G-Force.  In
2010, well after the production and release of G-Force, In Three
sold all of its assets, including the 3D patents used in G-Force,
to DDMG.  DDMG did not assume or take by assignment the G-Force
Agreement when it acquired the In Three patents.

In September 2012, DDMG filed for Chapter 11 bankruptcy and sought
approval of the sale of all of its assets, including the 3D
patents, to RealD Inc.

Disney objected, asserting a continuing interest in the 3D patents.
Disney argued that, pursuant to Sections 16(a) and 16(b) of the
G-Force Agreement, the holder of the 3D patents could not sue
Disney for infringement by vendors "engaged in 'work' for Disney,"
even if the work was not for the film G-Force.  Section 16(b)
granted Disney the option of acquiring a broader license to the 3D
patents and technology.

On December 10, 2012, the Bankruptcy Court overruled Disney's
objections. The Bankruptcy Court determined that Disney did not
hold a broad license to the patents under either subsection.
Specifically, the Bankruptcy Court found that the covenant not to
sue in Section 16(a) does not grant Disney a perpetual license to
the patents, and Disney never exercised the option to acquire broad
rights to the patents in Section 16(b).

Disney moved for reconsideration and requested that the Bankruptcy
Court hold that "the Section 16(a) [covenant not to sue] [r]ights
are not limited to the G-Force film, but rather to any 'work' being
done for [Disney]." After a hearing, the Bankruptcy Court approved
the sale and entered the Patent Sale Order on December 21, 2012.
The U.S. District Court for the District of Delaware affirmed for
the same reasons as the Bankruptcy Court.

The case before the appeals court is, Walt Disney Studios Motion
Picture Production, Briar Rose Production, Ltd., and Extinction
Productions, Ltd., Appellants, No. 13-4278 (3rd Cir.).

A copy of the Third Circuit's Opinion dated February 5, 2015, is
available at http://is.gd/pkWA92from Leagle.com.

Counsel for Disney et al:

     Lisa H. Fenning, Esq.
     ARNOLD & PORTER
     777 South Figueroa Street, 44th Floor
     Los Angeles, CA 90017

Counsel for Appellee:

     Paige H. Forster, Esq.
     Eric A. Schaffer, Esq.
     REED SMITH
     225 Fifth Avenue Suite 1200
     Pittsburgh, PA 15222

                     About Digital Domain

Port St. Lucie, Florida-based Digital Domain Media Group, Inc. --
http://www.digitaldomain.com/-- engaged in the creation of
original content animation feature films, and development of
computer-generated imagery for feature films and trans-media
advertising primarily in the United States.

Digital Domain Media Group, Inc. and 13 affiliates sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 12-12568) on
Sept. 11, 2012, to sell its business for $15 million to
Searchlight Capital Partners LP, subject to higher and better
offers.  The Company disclosed assets of $205 million and
liabilities totaling $214 million.

The Debtors also have sought ancillary relief in Canada, pursuant
to the Companies' Creditors Arrangement Act in the Supreme Court
of British Columbia, Vancouver Registry.

Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the
Debtors.  FTI Consulting, Inc.'s Michael Katzenstein is the chief
restructuring officer.  Kurtzman Carson Consultants LLC is the
claims and notice agent.  An official committee of unsecured
creditors appointed in the case is represented by lawyers at
Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP.

At a bankruptcy auction, the principal part of the business was
purchased by a joint venture between Galloping Horse America LLC,
an affiliate of Beijing Galloping Horse Co., and an affiliate of
Reliance Capital Ltd., based in Mumbai.  The $36.7 million total
value of the contact includes $3.6 million to cure defaults on
contracts and $2.9 million in reimbursement of payroll costs. As
the result of a settlement negotiated by the unsecured creditors'
committee with secured lenders, there will be some recovery for
the committee's constituency.


ENDEAVOUR INT'L: Seeks June 8 Extension of Plan Filing Date
-----------------------------------------------------------
Endeavour Operating Corporation, et al., ask the U.S. Bankruptcy
Court for the District of Delaware to extend until June 8, 2015,
their exclusive plan filing period and until Aug. 6, 2015, their
exclusive solicitation period.

According to Zachary I. Shapiro, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware, the Debtors have been
dedicated to a cooperative, consensual process since before the
Petition Date.  To address current industry conditions, including
the continuing drop in oil and gas prices, which prompted the
Debtors to delay confirmation of their plan of reorganization, the
Debtors have initiated discussions with, among others, the
Consenting Creditors and their advisors and the advisors to the
Official Committee of Unsecured Creditors regarding potential
modifications to the Proposed Plan and the Restructuring Support
Agreement.  Mr. Shapiro tells the Court that the Consensual
Restructuring was developed in an industry environment where oil
prices had remained relatively stable for the past for years.

Mr. Shapiro says that although the discussions are only in the
preliminary stages, the Debtors are encouraged by the parties'
willingness to engage on key issues.  Extension of the Exclusive
Periods will further the cooperative dialogue by allowing the
Debtors to maintain control over the Chapter 11 cases and to
continue to usher their disparate creditor groups toward a holistic
resolution without the interference and expense of addressing
competing plan proposals, Mr. Shapiro further tells the Court.

A hearing on the extension request will be held on March 11, 2015,
at 2:00 p.m. (ET).  Objections are due Feb. 20.

                    About Endeavour International

Houston, Texas-based Endeavour International Corporation (OTC:
ENDRQ) (LSE: ENDV) is an oil and gas exploration and production
company focused on the acquisition, exploration and development of
energy reserves in the North Sea and the United States.

On Oct. 10, 2014, Endeavour International and five affiliates
filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code after reaching a restructuring deal
with noteholders.  The cases are pending joint administration
under Endeavour Operating Corp.'s Case No. 14-12308 before the
Honorable Kevin J. Carey (Bankr. D. Del.).

As of June 30, 2014, the Company had $1.55 billion in total
assets, $1.55 billion in total liabilities, $43.7 million in
series c convertible preferred stock, and a $41.5 million
stockholders' deficit.

The Debtors have tapped Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A., as co-counsel; The Blackstone
Group L.P., as financial advisor; AlixPartners, LLP, as
restructuring advisor; and Kurtzman Carson Consultants LLC, as
claims and noticing agent.

The U.S. Trustee for Region 3 has appointed three members to the
Official Committee of Unsecured Creditors in the Chapter 11 cases
of Endeavour Operating Corporation and its debtor affiliates.  The
Committee is represented by David M. Bennett, Esq., Cassandra
Sepanik Shoemaker, Esq., and Demetra L. Liggins, Esq., at Thompson
& Knight LLP, and Neil B. Glassman, Esq., Scott D. Cousins, Esq.,
and Evan T. Miller, Esq., at Bayard, P.A.  Alvarez & Marsal North
America, LLC, serves as financial advisors to the Committee, while
UpShot Services LLC serves as website administrator.

                        *     *     *

U.S. Bankruptcy Judge Kevin J. Carey in of Delaware, on Dec. 22,
2014, approved the disclosure statement explaining Endeavour
Operating Corporation, et al.'s joint plan of reorganization.

The Amended Plan, dated Dec. 19, 2014, provides that it is
supported by creditors who collectively hold 82.99% of the March
2018 Notes Claims (Class 3), 70.88% of the June 2018 Notes Claims
(Class 4), 99.75% of the 7.5% Convertible Bonds Claims (Class 5),
and 69.08% of the Convertible Notes Claims (Class 6).  The Amended
Plan also provides that holders of general unsecured claims will
recover an estimated 15% of the total claims amount, which is
estimated to be $6,000,000.

The hearing to consider confirmation of the Amended Joint Plan of
Reorganization, dated Dec. 23, 2014, of Endeavour Operating
Corporation and its affiliated debtors, including Endeavour
International Corporation, has been adjourned to a date to be
determined.


ENERGY FUTURE: Has Until June 23 to File Plan
---------------------------------------------
U.S. Bankruptcy Judge Christopher S. Sontchi in Delaware further
extended Energy Future Holdings Corp., et al.'s exclusive plan
filing period through and including June 23, 2015, and their
exclusive solicitation period through and including Aug. 23, 2015.

The Debtors originally sought extension of their exclusive plan
filing period through and including Oct. 29 and their exclusive
solicitation period through and including Dec. 29, but agreed to a
shorter extension in order to avoid unnecessary litigation over
exclusivity following several interested parties' objection to the
original exclusivity extension motion.  Among those who objected to
the extension request are the EFH Official Committee of Unsecured
Creditors, the TCEH Official Committee of Unsecured Creditors, the
Ad Hoc Committee of TCEH First Lien creditors, Alcoa Inc.,
Wilmington Savings Fund Society FSB, and the EFIH Ad Hoc
Committee.

                     About Energy Future

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

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

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

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

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

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

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

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

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


ENERGY FUTURE: To Float New Ch. 11 Restructuring Proposal
---------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
threatened with a creditor revolt, Energy Future Holdings Corp.
said it would be distributing a term sheet this week outlining a
proposal for reshaping its $42 billion debt load and ending a
contentious stay in bankruptcy.

According to the report, the announcement came at a court hearing
where multiple creditors expressed frustration at the lack of
progress in the big Chapter 11 case, which began last year.  The
Journal related that U.S. Bankruptcy Judge Christopher Sontchi in
Delaware said Energy Future, with its two divisions and multiple
levels of debt, presents a "very challenging" restructuring
scenario and that the company's promise to float a proposal that
could form the backbone of an agreed upon Chapter 11 plan should
get the bankruptcy moving forward.

                     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.


FCC HOLDINGS: Judge Extends Deadline to Remove Suits to Feb. 23
---------------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi has given FCC Holdings
Inc. until Feb. 23 to file notices of removal of lawsuits involving
the company and its affiliates.

                           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.


FENG LI: Owes Stolen Funds in Bankruptcy, 3rd Circuit Hears
-----------------------------------------------------------
Law360 reported that six former clients of Feng Li, a disbarred New
Jersey attorney, have urged the Third Circuit to keep him on the
hook for a $938,000 debt in bankruptcy court, arguing his petition
for bankruptcy's one goal was to shirk the substantial debt he owed
former clients.

According to the report, in a motion filed opposing the appeal of
Mr. Li, the former clients told the appellate panel a bankruptcy
judge was right to grant them summary judgment because the attorney
embezzled money while acting in a fiduciary capacity and made false
oaths in connection with his bankruptcy proceedings.  The report
related that the underlying case stems from Mr. Li's representation
of six clients in 2005 in a suit against a former business partner.
When they won about $4 million in underlying arbitration, they
then pursued Mr. Li for $1.25 million he withdrew from escrow
without authorization.

The case is  Li et al. v. Peng et al., Case No. 14-3738, in the
U.S. Court of Appeals for the Third Circuit.


FISKER AUTOMOTIVE: Brown Rudnick, Others Renew Bid for Fee Hike
---------------------------------------------------------------
Law360 reported that Brown Rudnick LLP, Saul Ewing LLP and Emerald
Capital Advisors Group appealed a Delaware bankruptcy court's
decision denying them a $2.5 million fee enhancement for work they
did advising the unsecured creditors' committee for bankrupt Fisker
Automotive Holdings Inc.

The Troubled Company Reporter, on Jan. 23, 2015, reported that
Bankruptcy Judge Kevin Gross denied the request of professionals
hired by the Official Committee of Unsecured Creditors in the
Chapter 11 cases of FAH Liquidating Corp., f/k/a Fisker Automotive
Holdings, Inc., et al., for a fee enhancement and substantial
contribution compensation, saying "The Court is disinclined to
award fee enhancements in cases where
professionals have been paid handsome market-rate hourly fees and
creditors have received less than full recovery. Some of the
attorneys in this case charged and were paid over $1,000 per hour.
When attorneys are paid at that rate, the Court expects that work
performed will be exceptional."

                      About Fisker Automotive

Fisker Automotive Holdings, Inc., developer of the Karma plug-in
hybrid electric sedan, filed a petition for Chapter 11 protection
(Bankr. D. Del. Case No. 13-13087) on Nov. 22, 2013.

Fisker estimated assets of more than $100 million and listed debt
of $500 million in its bankruptcy petition.  The assets include an
assembly plant purchased for $21 million from General Motors Corp.
The plant never operated.  The cars were assembled in Finland.

Fisker received a $529 million loan from the Department of
Energy's Advanced Technology Vehicles Manufacturing Loan Program
and drew down about $192 million before the department froze the
loan after Fisker failed to hit several development targets.  The
company defaulted on its loan in April 2013.

Bankruptcy Judge Kevin Gross presides over the case.  The Debtors
have tapped James H.M. Sprayregen, P.C., Esq., Anup Sathy, P.C.,
Esq., and Ryan Preston Dahl, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, as co-counsel; Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, as co-counsel;
Beilinson Advisory Group as restructuring advisors; and Rust
Consulting/Omni Bankruptcy, as notice and claims agent and
administrative advisor.

On Nov. 5, 2013, the Official Committee of Unsecured Creditors
was appointed. The members are: (a) David M. Cohen; (b) Sven
Etzelsberger; (c) Kuster Automotive Door Systems GmbH; (d) Magna
E-Car USA, LLC; (e) Supercars & More SRL; and (f) TK Holdings Inc.
The Committee is represented by William R. Baldiga, Esq., and
Sunni P. Beville, Esq., at Brown Rudnick LLP; and Mark Minuti,
Esq., at Saul Ewing LLP.  Emerald Capital Advisors Corp. is the
financial advisors for the Committee.

Fisker sought bankruptcy protection to pursue a private sale of
its business to Hybrid Tech Holdings, LLC.  The Committee,
however, wants a sale public sale, and has identified Wanxiang
America Corporation as stalking horse bidder.

Hybrid was initially under contract to buy Fisker in exchange for
$75 million of the $168.5 million government loan it acquired
immediately before the Debtor's Chapter 11 filing.  Hybrid later
raised its offer by adding an additional $1 million cash and
agreeing to share proceeds from the sale of a facility in Delaware
it doesn't intend to operate.  Hybrid also offered to pay real
estate taxes on the Delaware plant.  Hybrid also will waive $90
million in deficiency claims that otherwise would dilute unsecured
creditors' recovery.

Wanxiang, as stalking horse bidder, initially offered $25.8
million in cash.  However, Wanxiang has said it has raised its
offer by $10 million and is willing to go higher.

After the hearings on Jan. 10 and 13, the Court directed a public
auction, and capped Hybrid's credit bid to $25 million.

In response, Hybrid raised its offer to $55 million.

Hybrid is represented by Tobias Keller, Esq., and Peter
Benvenutti, Esq., at Keller & Benvenutti LLP, in San Francisco,
California.

Wanxiang, which bought A123 Systems, Inc., a manufacturer of
lithium-ion batteries used in electric vehicles such as the Fisker
Karma, in a bankruptcy auction early in 2013 for $256.6 million,
is represented in Fisker's case by Sidley Austin LLP's Bojan
Guzina, Esq., and Andrew F. O'Neill, Esq.; and Young Conaway
Stargatt & Taylor, LLP's Edmon L. Morton, Esq., Robert S. Brady,
Esq., and Kenneth J. Enos, Esq.

On Feb. 19, 2014, the Bankruptcy Court approved the sale of
Fisker's assets to Wanxiang America Corporation.  The sale closed
on March 24.  The sale to Wanxiang is valued at approximately $150
million, Fisker said in a news statement.

On March 27, 2014, the Court authorized Fisker Automotive Holdings
to change its name to FAH Liquidating Corp. and its affiliate,
Fisker Automotive Inc., to FA Liquidating Corp., following the
sale.

FA Liquidating Corp. (F/K/A Fisker Automotive, Inc.) and FAH
Liquidating Corp. (F/K/A Fisker Automotive Holdings, Inc.)
notified the U.S. Bankruptcy Court for the District of Delaware
that their Second Amended Chapter 11 Plan of Liquidation became
effective as of Aug. 13, 2014.


FOODS INC: Food Partners Approved as Financial Advisors
-------------------------------------------------------
The U.S. Bankruptcy Court has authorized Foods, Inc., et al., to
employ The Food Partners, LLC as financial advisors and investment
bankers effective as of the Petition Date.

In connection with the application, the Debtor entered a
stipulation resolving the objections filed by James L. Snyder,
Esq., Assistant U.S. Trustee for Region 12, and the Official
Committee of Unsecured Creditors.

The stipulation provides for negotiated modified terms upon which
the parties agree, among other things:

   1. The Food Partners can and must be employed:

   FOR INVESTMENT BANKING

   A. The Food Partners will be entitled to a flat fee of $350,000

      on account of the Associated Wholesale Grocers, Inc.
      stalking horse bid.

   B. If the assets are sold for a higher amount than the AWG
      stalking horse bid, The Food Partners will receive a 5.0%
      success fee/commission on the amount of total consideration
      above the AWG stalking horse bid, in addition to the
      $350,000 flat fee, with no reduction for any monthly
      advanced investment banking expenses allocation previously
      received.

   C. For calculating the 5.0% Success Fee/Commission on
      inventory, in the case where inventory is sold as part of a
      bid for a store as an operating entity, whether to AWG or
      another Winning Bidder, the inventory will be valued based
      on what AWG would have paid.

   D. For calculating the 5.0% success fee/commission on
      inventory, in the case where inventory is sold separately,
      and not sold as part of a bid for a store as an operating
      entity, the inventory will be valued based on what AWG would

      have paid.

   E. The Food Partners will also be entitled to a monthly fee of
      $12,500 as an advanced investment banking expense
      allocation.

   F. The Food Partners will not be required to keep track of
      their time and expenses for their above investment banking
      services.

FOR FINANCIAL ADVISORY SERVICES

   A. The Food Partners will be entitled to a $12,500 monthly
      financial advisory service fee.

   B. The Food Partners will be entitled to a $75,000 postpetition

      retainer, held in Trust, from which monthly financial
      advisory service fees can be deducted on a monthly basis.

   C. The $75,000 postpetition retainer is not subject to being
      offset against investment banking success fee.

   D. The Food Partners will be responsible for tracking of their
      time and expenses on a daily basis.  A monthly report of
      such time and expenses will be provided to the UST and
      counsel for the Committee for tracking purposes.

   E. The Food Partners will not be required to file interim fee
      applications, but they will be required to file a final fee
      application at the conclusion of the case, but only for
      their financial advisory services.

                         About Dahl's Foods

Dahl's Foods owns and operates 10 full-line grocery stores in and
around the Des Moines, Iowa area.  Since the 1970s, Dahl's has been
employee owned pursuant to an ESOP with 97% of the ownership held
by the ESOP.  The remaining 3% is owned by certain past and present
members of management and other former employees.

Individual grocery store square footage ranges from 28,820 to
70,000 and averages 55,188.  Dahl's employs over 950 people.  For
the 52 weeks ended June 28, 2014, Dahl's generated sales of $136.8
million.

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

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

The Official Committee of Unsecured Creditors is represented by
Freeborn & Peters LLP.  O'Keefe & Associates Consulting, LLC served
as its financial advisor.



FRONTIER COMMUNICATIONS: Fitch Puts 'BB' IDR on Negative Watch
--------------------------------------------------------------
Fitch Ratings has placed the Issuer Default Rating (IDR) and
long-term debt ratings of Frontier Communications Corporation
(Frontier; NYSE: FTR) on Rating Watch Negative as follows:

-- IDR at 'BB';
-- Senior unsecured $750 million revolving credit facility due
2018
    at 'BB';
-- Senior unsecured notes and debentures at 'BB'.

In addition, Fitch has placed the ratings of other Frontier
subsidiaries on Rating Watch Negative as listed at the end of this
release.

The Negative Watch arises from Frontier's plans to acquire certain
wireline operations in California, Texas and Florida from Verizon
Communications Inc. for approximately $10.5 billion, including $600
million of assumed debt. The transaction is expected to close in
the first half of 2016, after all necessary regulatory approvals
are obtained.

Frontier intends to finance the transaction primarily with debt and
equity, with the equity consideration potentially consisting of
common stock and equity-linked securities. The company may also
consider a modest level of secured debt financing. Financing plans
are backed by an 18-month bridge facility.

In reviewing the transaction, Fitch will focus on the financing of
the transaction, a review of potential synergies, and the outcome
of the regulatory review process, among other factors. In
evaluating the proposed financing of the transaction, Fitch will
review the potential for secured debt in the capital structure, as
well as Frontier's plans for equity financing. The company has
indicated equity financing could approximate $3 billion, and that
the Verizon acquisition will be relatively neutral to its leverage.
With respect to the equity-linked securities, Fitch would apply its
criteria 'Treatment and Notching of Hybrids in Non-Financial
Corporate and REIT Credit Analysis', which could lead to less than
100% equity credit depending on the terms of the securities.

Fitch anticipates resolving the Negative Watch around the time of
the closing of the transaction, with an earlier resolution a
possibility upon the conclusion of its anticipated equity
offering.

KEY RATING DRIVERS

Leverage Increased in 2014: At Sept. 30, 2014, Frontier's gross
leverage was 4.5x, which included debt issued to fund the October
2014 close of the AT&T line acquisition for approximately $2
billion. Net leverage excluding transaction financing was 3.8x.

Acquisitions Improve Scale: Fitch believes the acquisition of the
Connecticut operations and the proposed acquisition of the Verizon
properties will increase the scale of Frontier, and lead to
improved free cash flow (FCF, defined as net cash provided by
operating activities less capital spending and dividends). In
Fitch's view, the two acquisitions will not require material
additional capital spending given past network upgrades by AT&T and
Verizon.

Revenue Pressures Slowly Abating: Through the first nine months of
2014, business and residential customer revenue declines have
moderated and are approaching stability, although potential
headwinds from competitive pressures and the economy remain in
place.

Manageable Maturities: Excluding the Verizon transaction financing,
Frontier is not expected to need to access the capital markets to
refinance maturing debt through at least 2016. Existing principal
repayments of approximately $611 million over 2015 and 2016 can be
managed with cash expected to be on the balance sheet plus FCF.

Liquidity Solid: Supporting the rating is Frontier's ample
liquidity, which is derived from its cash balances and its $750
million revolving credit facility. At Sept. 30, 2014, Frontier had
$809 million in balance sheet cash.

Credit Facility and Debt Maturities: The $750 million senior
unsecured credit facility is in place until May 2018. The facility
is available for general corporate purposes but may not be used to
fund dividend payments. The main financial covenant in the
revolving credit facility requires the maintenance of a net
debt-to-EBITDA level of 4.5x or less during the entire period. Net
debt is defined as total debt less cash exceeding $50 million.

KEY ASSUMPTIONS

Fitch's key assumptions within our rating case for the issuer
include:

-- Frontier's revenues on a stand-alone basis are expected to
    decline in the low single digits pro forma for the October
    2014 AT&T transaction;

-- 2015 EBITDA margins are in the low to mid 40 percent range

-- Capex is expected to be in the range of $750 million to $800
    million in 2015;

-- Frontier issues approximately $3 billion in equity to fund
    the Verizon wireline operations, out of the total transaction
    value of approximately $10.5 billion.

RATING SENSITIVITIES

The rating could be affirmed at the current level if in Fitch's
view Frontier will be able to sustain post-transaction net leverage
below 4x.

The rating could be downgraded if net leverage is expected to be
above 4x due to a number of factors, primarily a smaller than
expected equity component in the Verizon transaction financing,
lower synergy realization or assumptions, and competitive pressures
on EBITDA.

Fitch has also placed the following ratings on Negative Rating
Watch:

Frontier North Inc.

-- IDR at 'BB';
-- $200 million unsecured notes due 2028 at 'BB+'.

Frontier West Virginia

-- IDR at 'BB';
-- $50 million private placement notes due 2029 at 'BB+'.


GANNETT CO: Shares Reinstatement No Impact on Moody's Ba1 CFR
-------------------------------------------------------------
Moody’s Investors Service said Gannett Co., Inc. recently
announced the company reinstated its share buyback plans with
roughly $150 million remaining under the original $300 million
program. Despite the leakage of cash, the planned share repurchases
have no immediate impact on the company's debt ratings given (i)
good operating performance, including high margin political ad
revenue, and (ii) cash tax benefits from a recent asset sale
contributed to debt repayment in 2014 exceeding Moody's expectation
by more than $150 million.

The announcement is credit negative and, to the extent the company
is not meeting its plan for debt reduction or to the extent Moody's
believes the interests of creditors are not being balanced with
those of shareholders, there could be downward pressure on debt
ratings particularly if credit metrics, including leverage, remain
outside levels appropriate for Gannett's Ba1 Corporate Family
Rating. Moody's believes the potential for enhancing shareholder
returns at the expense of creditors has increased given funds
associated with Carl Icahn, a shareholder activist, accumulated a
6.6% ownership interest in Gannett since the second quarter of
2014.

The rating outlook remains negative reflecting the increase in
funded debt as a result of the purchase of the 73% of Cars.com that
Gannett did not already own in October 2014 and uncertainties
related to achieving targeted lower debt levels including reduced
unfunded pension liabilities. As stated in Moody's September 2014
press release, Gannett's ratings could be lowered if revenue does
not track Moody's base case forecast, liquidity weakens below
expected levels, or Moody's believe the company is not making
progress in reducing leverage. Despite up to $150 million of
planned share repurchases, Moody's expect liquidity will remain
strong with good free cash flow generation, $118 million in cash as
of year end 2014, and $625 million in undrawn revolver capacity.

Gannett, headquartered in McLean, VA, is a diversified local
newspaper/publisher and broadcast operator with ownership interests
in a number of digital ventures including a 52.9% stake in
CareerBuilder, which is fully consolidated in Gannett's financial
statements. Gannett is publicly traded with a single class share
structure. Major shareholders include The Vanguard Group, Inc.
(roughly 7.2%), funds associated with Carl Icahn (6.6%) as a result
of purchases since the second quarter of 2014, BlackRock (4.7%),
JPMorgan (4.5%), and Manning & Napier (4.1%) with remaining shares
being widely held. Revenue for the year ended December 28, 2014 was
$6 billion, and post completion of the announced spin-off of
publishing businesses, Gannett will own broadcasting and digital
businesses, including 100% of Cars.com, with revenue totaling
roughly $3 billion.



GENERAL MOTORS: Activist Investors Propose Shares Buyback
---------------------------------------------------------
Michael J. De La Merced, writing for The New York Times' DealBook,
reported that a group of hedge funds and Harry J. Wilson, a former
member of the Obama administration's auto task force, is seeking
changes at General Motors by endorsing a proposal to compel the
company to buy back no less than $8 billion worth of shares by next
year.

According to the DealBook, Mr. Wilson, who had submitted himself as
a candidate for the company's board, is backed by David Tepper of
Appaloosa Management and Kyle Bass of Hayman Capital Management.
Their firms, along with HG Vora and Taconic Capital, own just over
2 percent of G.M.'s stock, the DealBook noted.

                       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.


GENERAL MOTORS: Suzuki Wants Suit Over Compact Car Fires Tossed
---------------------------------------------------------------
Law360 reported that Suzuki Motor of America Inc. urged an Oklahoma
federal court to toss a proposed class action accusing it of
concealing a defect in certain General Motors LLC-manufactured
Forenza and Reno compact cars, saying it is not liable for the
actions of its predecessor, which was dissolved during bankruptcy.


According to the report, the Korean motorcycle and boat
manufacturer argued that under a 2013 asset purchase agreement
approved by a federal bankruptcy court, it did not agree to take on
the entirety of predecessor American Suzuki Motor Corp.'s
liabilities and lead plaintiff, Jason Dinwiddie, cannot bring a
multimillion dollar class action against it for alleged defects in
vehicles it did not manufacture or sell.

The suit is Dinwiddie et al v. Suzuki Motor of America Inc, case
number 5:14-cv-01127, in the U.S. District Court for the Western
District of Oklahoma.

                       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.


GENERAL MOTORS: Widow Says Co. Hid Evidence in Crash Case
---------------------------------------------------------
Law360 reported that a widow who settled her 2007 lawsuit against
General Motors Co. over a crash that killed her family wants a
"do-over," asking a New York bankruptcy court to revive her suit
because GM hid evidence about the ignition switch and other
problems while it argued her husband committed murder-suicide.
According to the report, Doris Powledge Phillips asked the court to
negate her 2010 settlement in the suit, or to set aside the
stipulation she agreed to then, on the grounds that her rights to
due process were cheated.

                       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.


GEORGES MARCIANO: Tries to Keep Dispute in Bankruptcy Court
-----------------------------------------------------------
Law360 reported that the administrator for bankrupt Guess Inc.
co-founder Georges Marciano moved to oppose a company's attempt to
remove bankruptcy references in a dispute over defamation damages
in California federal court.

To recall, Marciano had sued a group of former employees in 2007 in
California state court for the alleged theft of his driver's
personal documents and artwork but got hit with winning
cross-complaints that put him on the hook for more than $95 million
in damages.  Three of the employees filed an involuntary bankruptcy
petition to collect the award, the report said.

The case is Georges Marciano et al v. Art Pack, Inc., Case No.
2:15-cv-00444 (C.D. Calif.).

                      About Georges Marciano

Georges Marciano is the co-founder of the apparel company Guess?,
Inc. and an investor in various companies and real estate
ventures.  Three of the five former employees of Mr. Marciano,
who won a $370 million libel judgment against him in July 2009,
filed an involuntary chapter 11 bankruptcy petition (Bankr. C.D.
Calif. Case No. 09-39630) against the Guess? Inc. co-founder on
Oct. 27 2009.  Mr. Marciano challenged the involuntary petition
for 14 months, and Judge Victoria S. Kaufman entered an order for
relief against Mr. Marciano on Dec. 29, 2010.  The bankruptcy
court appointed David K. Gottlieb as the trustee of Mr. Marciano's
bankruptcy estate on March 7, 2011.


GLOBAL GEOPHYSICAL: Completes Restructuring, Exits Chapter 11
-------------------------------------------------------------
Global Geophysical Services, Inc., on Feb. 10 disclosed that it has
successfully completed its balance sheet restructuring and emerged
from bankruptcy, following confirmation of Global's Second Amended
Joint Chapter 11 Plan of Reorganization by the U.S. Bankruptcy
Court for the Southern District of Texas, Corpus Christi Division,
on February 6, 2015‎.

"Our emergence from Chapter 11 marks the start of a new chapter for
our company," said Richard White, Global Chief Executive Officer.
"Through this process we have reduced our funded debt by
approximately $250 million and strengthened our capital structure.
Our new financial profile provides a solid financial foundation to
sustainably operate and grow the business.  Global is moving
forward as a company that is well positioned to execute on our
strategic plan across all four of our service and product lines."

The exit financing included first lien financing of $85 million,
including a $25 million revolving line of credit, and approximately
$32 million in second lien financing provided by a group of
Global's debtor-in-possession lenders.  "Our emergence would not
have been possible without the support of our lenders, whose
willingness to invest in our company demonstrates their confidence
in Global's prospects for long-term growth and value creation.  We
also appreciate the dedication of our employees, who continued to
serve our customers without interruption throughout this process.
Finally, we thank our customers along with our affiliates, vendors
and other stakeholders for their loyalty.  We believe Global is
poised for renewed success and we are excited about the
opportunities ahead," Mr. White concluded.  

Rothschild Inc. served as financial advisor and investment banker
and Alvarez & Marsal North America, LLC served as restructuring
advisor to Global.  Baker Botts L.L.P. served as Global's
restructuring counsel.  Willkie Farr & Gallagher served as counsel
to the exit lender.

Global's court filings with the U.S. Bankruptcy Court for the
Southern District of Texas, Corpus Christi Division, are available
on a separate website administered by Global's claims agent,
Prime Clerk, at http://cases.primeclerk.com/ggs

           About Global Geophysical, Autoseis et al.

Global Geophysical Services Inc., a provider of seismic data for
the oil and gas drilling industry, sought bankruptcy protection,
intending to reorganize on its own with additional capital or
explore a sale or other transaction.

Based in Missouri City, Texas, Global Geophysical disclosed assets
of $468.7 million and liabilities totaling $407.3 million as of
Sept. 30, 2013.  Liabilities include $81.8 million on a secured
term loan owing to TPG Specialty Lending Inc. and Tennenbaum
Capital Partners LLC.  TPG is the lenders' agent.  Global also owes
$250 million on two issues of 10.5 percent senior unsecured notes,
with Bank of New York Mellon Trust Co. as indenture trustee.

Global Geophysical and five affiliates, including Autoseis, Inc.
(lead debtor), filed Chapter 11 petitions in Corpus Christi, Texas
(Bankr. S.D. Tex. Lead Case No. 14-20130) on March 25, 2014.

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

The U.S. Trustee for Region 7 selected seven creditors to the
Official Committee of Unsecured Creditors.  The Committee tapped
Greenberg Traurig, LLP as counsel; and Lazard Freres & Co. LLC and
Lazard Middle Market LLC, as financial advisors and investment
bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are represented
by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs, Esq., Michael S.
Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin Gump Strauss
Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson &
Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GREEN MOUNTAIN: Amends Schedules of Assets and Liabilities
----------------------------------------------------------
Green Mountain Management LLC and its debtor-affiliates filed an
amended schedules of assets and liabilities, and statement of
financial affairs in the U.S. Bankruptcy Court for the Northern
District of Georgia, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               
  B. Personal Property            $7,744,387
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $20,741,250
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $91,665
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,420,204
                                 -----------      -----------
        TOTAL                     $7,744,387      $22,253,121

A full-text copy of the amended schedules and statement is
available for free at:

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

                       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.


GREEN MOUNTAIN: Gets Final Approval to Access Bay Point DIP Loan
----------------------------------------------------------------
The Hon. Barbara Ellis-Monro of the U.S. Bankruptcy Court for the
Northern District of Georgia authorized Georgia Flattop Partners
LLC and Green Mountain Management LLC to obtain
debtor-in-possession financing from Bay Point Capital Partners LP
on a final basis.

The Debtors said the DIP facility contemplates a revolving credit
line of $2,000,000 pursuant to the senior secured superpriority
debtor-in-possession credit agreement dated Dec. 22, 2014, with the
DIP lender.  The DIP loan will accrue a 4% interest rate per annum
in excess of the non-default interest rate at the base rate plus
10%.

As reported in the Troubled Company Reporter on Jan. 5, 2015, 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 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 the 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.

                       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.


GREEN MOUNTAIN: Wants Plan Filing Deadline Extended to May 21
-------------------------------------------------------------
Green Mountain Management LLC and its debtor-affiliates ask the
U.S. Bankruptcy Court for the Northern District of Georgia to
further extend their exclusive period to:

  a) file a Chapter 11 plan until May 21, 2015; and
  b) solicit acceptances of that plan until July 20, 2015.

The Debtors' current plan filing deadline will expire on Feb. 20,
2015, and the solicitation period is set to expire on April 21,
2015, absent an extension.

According to the Debtors, their exclusive periods are intended to
afford them a full and fair opportunity to negotiate and propose a
plan that will return the greatest value to their estates,
creditors and other parties in interest without the disruption that
might be caused by the filing of competing plans by non-debtor
parties.

The Debtors say, in connection with formulating a Chapter 11 plan,
they have worked with, and continue to work with, key
constituencies in these cases to understand any issues these
parties may have with their business plan and future proposed plan
of reorganization.  No creditors' committee has been appointed in
these cases, but the Debtors have stayed in close, direct
communications with their creditors, which has allowed them to
maintain normal credit terms with their vendors and suppliers.

Sage M. Sigler, Esq., at Alston & Bird LLP, says "the Debtors have
maintained positive relationships with their customers and have
continued to timely service their contracts postpetition."

The Court will hold a hearing on Feb. 11, 2015, at 11:00 a.m., in
Courtroom 1402, United States Courthouse, 75 Spring Street SW in
Atlanta, Georgia.

                       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.


GREEN MOUNTAIN: Wants Until Aug. 17 on Lease-Related Decisions
--------------------------------------------------------------
Green Mountain Management LLC and its debtor-affiliates ask the
U.S. Bankruptcy Court for the Northern District of Georgia to
extend the time within which assume or reject unexpired leases of
nonresidential real property through and including Aug. 17, 2015.

According to the Debtors, their only unexpired lease is the lease
dated Aug. 1, 2010, with Solid Waste Disposal Authority of the
City, under which they are the lessee of a municipal solid waste
landfill in Adamsville, Alabama.  In connection with the landfill
lease, Green Mountain and the City are also parties to a host
agreement dated Oct. 20, 2010.  their obligations under the host
agreement are the only obligations Green Mountain owes directly to
the City in connection with the landfill lease.  To the best of
their knowledge, information, and belief, they have timely
performed all of their post-petition obligations owing directly to
the City, the Debtors say.

The Court will hold a hearing on Feb. 11, 2015, at 11:00 a.m., in
Courtroom 1402, United States Courthouse, 75 Spring Street SW in
Atlanta, Georgia.

                       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.


GRIFFIN HOMEBUILDING: Developers Can't Shake $19-Mil. Suit
----------------------------------------------------------
Law360 reported that a California judge tentatively rejected a bid
by individual owners of bankrupt developer Griffin Homebuilding
Group LLC to toss Weyerhaeuser Realty Investors Inc.'s contract
suit seeking $19 million, saying defendants didn't prove WRI wasn't
damaged when the owners allegedly "looted" funds intended for
development ventures.

According to the report, ten of GHG's owners and officers,
including several members of the Griffin family, had moved for
summary judgment of WRI's claims that the defendants breached two
operating agreements governing Parkebridge LLC and Riverwalk Vista
LLC.


GT ADVANCED: Judge Extends Deadline to Remove Suits to May 5
------------------------------------------------------------
U.S. Bankruptcy Judge Henry Boroff has given GT Advanced
Technologies Inc. until May 5 to file notices of removal of
lawsuits involving the company and its affiliates.

                  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.


GTA REALTY: Wants More Time to File Reorganization Plan
-------------------------------------------------------
GTA Realty II LLC asks the Hon. Robert E. Gerber of the U.S.
Bankruptcy Court for the Southern District of New York to extend
its 120-day exclusive period to file a plan of reorganization and
its 180-day  period to solicit acceptances to a plan of
reorganization.

The Debtor tells the Court that it is concerned that absent an
extension, it will face a competing plan making a successful
reorganization harder.  Mark Frankel, Esq., at Backenroth Frankel &
Krinsky LLP, noted "On the Debtor's reasonable prospects for
reorganization, again, the buildings are valuable enough to ensure
payment in full whether by sale of refinance or by selling one and
refinancing the other. The Debtor’s prospects are excellent."

The Debtor's current exclusivity was slated to expire Feb. 5,
2015.

A hearing is set for Feb. 25, 2015, at 9:45 a.m., at One Bowling
Green in New York, New York.

                        About GTA Realty II

GTA Realty II, LLC, sought bankruptcy protection (Bankr. S.D.N.Y.
Case No. 14-12840) in Manhattan on Oct. 8, 2014.

In its schedules of assets and liabilities, the Debtor disclosed
$18 million in total assets and $7.26 million in liabilities.  The
Debtor owns real property at 184 Prince Street, New York, valued at
$6 million and a property at 287 Bleeker Street, New York, valued
at $12 million.   U.S. Bank National Association, owed $5.3
million, holds a first mortgage on the property.

The case is assigned to Judge Robert E. Gerber.

The Debtor is represented by Mark A. Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York.

The Debtor's Chapter 11 plan and disclosure statement are due Feb.
5, 2015.  The initial case conference is due by Nov. 7, 2014.

The Debtor has tapped Backenroth Frankel & Krinsky, LLP as
counsel.

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


GTL USA: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: GTL (USA), Inc.
        5200 Tennyson Parkway, Suite 200
        Plano, TX 75024

Case No.: 15-40248

Chapter 11 Petition Date: February 9, 2015

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

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Richard G. Grant, Esq.
                  Lynnette Warman TX, Esq.
                  CULHANE MEADOWS, PLLC
                  100 Crescent Court, Suite 700
                  Dallas, TX 76034
                  Tel: 214-210-2929
                  Fax: 214-210-2949
                  Emails: rgrant@culhanemeadows.com
                          lwarman@culhanemeadows.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Urmeet S. Juneja, senior vice
president.

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


GULFCO HOLDING: Appeals Case Dismissal to 3rd Cir.
--------------------------------------------------
In the adversary case, GULFCO HOLDING CORP., Plaintiff, vs.
PROSPECT CAPITAL CORP., Defendant, Adv. No. 14-50037 (BLS)(Bankr.
D. Del.), counsel to Gulfco submitted a status report in response
to the Court's Order dated January 6, 2015:

   1. On April 15, 2014, the Court entered an order dismissing the

      Debtor's bankruptcy case.

   2. On April 28, 2014, the Debtor appealed the Dismissal Order.

   3. On Dec. 9, 2014, the District Court entered an order
      affirming the Dismissal Order.

   4. On Jan. 8, 2015, the Debtor appealed the District Court's
      order to the United States Court of Appeals for the Third
      Circuit.

   5. Debtor's counsel is available at the Court's convenience
      should the Court have any concerns.

Counsel for Gulfco Holding Corp. are:

     Michael J. Barrie, Esq.
     Jennifer R. Hoover, Esq.
     BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP
     222 Delaware Avenue, Suite 801
     Wilmington, DE 19801
     Telephone: (302) 442-7010
     Facsimile: (302) 442-7012
     E-mail: mbarrie@beneschlaw.com
             jhoover@beneschlaw.com

          - and -

     David W. Mellott, Esq.
     BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP
     200 Public Square, Suite 2300
     Cleveland, OH 44114-2378
     Telephone: (216) 363-4465
     Facsimile: (216) 363-4588
     E-mail: dmellott@beneschlaw.com

                       About Gulfco Holding

Headquartered in Wilton, Connecticut, Gulfco Holding Corp. filed a
bare-bones Chapter 11 petition (Bankr. D. Del. Case No. 13-13113)
on Nov. 27, 2013.

The Hon. Brendan Linehan Shannon presides over the case.  Michael
Jason Barrie, Esq., at Benesch Friedlander Coplan & Aronoff LLP
represents the Debtor in its restructuring effort.  The Debtor
disclosed $23,000,576 in assets and $46,375,863 in liabilities as
of the Chapter 11 filing.

According to the list of top unsecured creditors, PNC Bank,
National Association is owed $5.4 million and Prospect Capital
Corp. has a disputed claim of $40.95 million on account of its
shares of stock in Gulf Coast Machine & Supply Company.

Altus Capital Partners II, L.P. and its affiliates, Franklin Park
Co-Investment Fund, L.P., David LeBlanc, and Steven Tidwell own
shares in the company.

Elizabeth A. Burgess, as president and CEO, signed the Chapter 11
petition.

No creditors' committee has been appointed in the case.


HOLDER GROUP SUNDANCE: Case Summary & 8 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: The Holder Group Sundance, LLC
        5355 Kietzke Lane Ste 102
        Reno, NV 89511

Case No.: 15-50157

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Debtor's Counsel: Stephen R Harris, Esq.
                  HARRIS LAW PRACTICE LLC
                  6151 Lakeside DR, Ste 2100
                  Reno, NV 89511
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  Email: steve@harrislawreno.com

Total Assets: $10.4 million

Total Liabilities: $5.08 million

The petition was signed by Harold D. Holder Sr., manager.

List of Debtor's eight Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
ACC                                Goods/Services       $2,540

Aristocrat                         Sales Order         $40,730

HAP Controls                       Goods/Services         $804

Harold D. Holder Sr.                                   Unknown

IGT                                Sales Order         $52,814

Nevada Bank & Trust                                    $37,813

Pepsi Bottling Group               Goods/Services         $289

Yesco                              Goods/Services         $834


HOLDER GROUP SUNDANCE: Files for Ch. 11 with $5M in Debt
--------------------------------------------------------
The Holder Group Sundance, LLC, sought Chapter 11 bankruptcy
protection (Bankr. D. Nev. Case No. 15-50157) in Reno, Nevada, on
Feb. 9, 2015, disclosing $5.08 million in debt.

The Debtor owns property at 33 Winnemucca Blvd., in Winnemucca,
Nevada, valued at $8.64 million.  The property secures a $2.81
million debt to Plumas Bank, which has a first deed of trust, and a
$2.14 million debt to Nevada State Bank, which has a second deed of
trust.

The Debtor filed its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $8,639,995
  B. Personal Property            $1,776,123
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $5,078,619
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                            $4,469
                                 -----------      -----------
        TOTAL                    $10,416,118       $5,083,087

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

            http://bankrupt.com/misc/nvb15-50157_SAL.pdf

The Debtor has tapped Stephen R. Harris, Esq., at Harris Law
Practice LLC, in Reno, Nevada, as counsel.


HOMCO REALTY: Files for Bankruptcy;  Creditors' Meeting on Feb. 19
------------------------------------------------------------------
Homco Realty Fund (105) Limited Partnership filed for bankruptcy on
Feb. 4, 2015, in Montreal, Quebec.  The first meeting of creditors
of Homco Realty Fund will be held Feb. 19, 2015, at 10:00 a.m., at
the office of Samson Belair/Deloitte & Touche Inc. located at 1
Place Ville-Marie, Suite 300 in Montreal, Quebec.

The trustee for the Company may be reached at:

   Samson Belair/Deloitte & Touche Inc.
   Trustee of Homco Realty Fund (105) Limited Partnership
   1 Place Ville-Marie, Suite 3000
   Montreal, Quebec, Canada, H3B 4T9
   Tel: 514-393-5974
   Fax: 514-390-4103


IBAHN CORP: Asks Court to Extend Deadline to Remove Suits
---------------------------------------------------------
iBahn Corp. has filed a motion seeking additional time to remove
lawsuits involving the company and its affiliates.

In its motion, iBahn asked the U.S. Bankruptcy Court in Delaware to
move the deadline for filing notices of removal of the lawsuits to
March 31.

The extension would give iBahn opportunity to make "fully-informed
decisions" concerning removal of any lawsuit involving the company,
according to its lawyer, James O'Neill, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware.

The deadline for filing objections to the motion is Feb. 13.

                           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.


IMPERIAL CAPITAL: FDIC Settles Fight Over $30-Mil.
--------------------------------------------------
Law360 reported that a California bankruptcy judge approved a
multi-million-dollar settlement over $30.3 million in disputed tax
refunds and other pending claims between reorganized debtor
Imperial Capital Inc. and the Federal Deposit Insurance Corp.

According to the report, under the settlement approved by U.S.
Bankruptcy Judge Louise DeCarl Adler, Imperial Capital -- formerly
known as Imperial Capital Bancorp Inc. -- will receive 45 percent
of the tax refunds and the FDIC, the receiver of the failed
Imperial Capital, will take the remaining 55 percent.

                      About Imperial Capital

La Jolla, California-based Imperial Capital Bancorp, Inc., filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Calif. Case No.
09-19431) on Dec. 18, 2009.  Gary E. Klausner, Esq., Eve H.
Karasik, Esq., and Gregory K. Jones, Esq., at Stutman, Treister &
Glatt, P.C., in Los Angeles, serves as the Debtor's bankruptcy
counsel.  FTI Consulting Inc. serves as its financial advisor.
The Company disclosed $40.4 million in assets and $98.7 million in
liabilities.

Tiffany L. Carroll, the U.S. Trustee for Region 15, appointed
three members to the official committee of unsecured creditors in
the Debtor's case.  David P. Simonds, Esq., and Christina M.
Padien, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Los
Angeles, represents the Committee as counsel.

The Bankruptcy Court last month confirmed Imperial Capital's
Second
Amended Chapter 11 Plan of Reorganization proposed by the Debtors
and HoldCo Advisors.


INDUSTRIAL ENTERPRISES: Judge Keeps Most of Clawback Suit Alive
---------------------------------------------------------------
Law360 reported that the bankruptcy judge for antifreeze maker
Industrial Enterprises of America Inc. has largely denied a motion
to get rid of a clawback suit regarding an alleged diversion of
money to two executives who were later convicted.

According to the report, U.S. Bankruptcy Judge Brendan Linehan
Shannon granted the motion to dismiss for just one of the 11
claims, a fraudulent-conveyance cause for pre-2008 transfers.
IEAM's bankruptcy is part of the larger bankruptcy of Pitt Penn
Holding Co. Inc., the report noted.

             About Pitt Penn and Industrial Enterprises

Pitt Penn Holding Co., Inc., and Pitt Penn Oil Co., LLC, each
filed voluntary petitions for Chapter 11 relief (Bankr. D. Del.
Case Nos. 09-11475 and 09-11476) on April 30, 2009.  Industrial
Enterprises of America, Inc., f/k/a Advanced Bio/Chem, Inc., filed
for Chapter 11 protection (Bankr. D. Del. Case No. 09-11508) on
May 1, 2009.  EMC Packaging, Inc., filed a voluntary petition for
Chapter 11 relief (Bankr. D. Del. Case No. 09-11524) on May 4,
2009.  Unifide Industries, LLC, and Today's Way Manufacturing LLC,
each filed a voluntary petition for Chapter 11 relief (Bankr. D.
Del. Case Nos. 09-11587 and 09-11586) on May 6, 2009.

PPH, PPO, EMC, Unifide, and Today's Way are each subsidiaries of
IEAM.  The cases are jointly administered under Case No. 09-11475.

Christopher D. Loizides, Esq., at Loizides, P.A., in Wilmington,
Del., represents the Debtors as counsel.  In its petition,
Industrial Enterprises disclosed total assets of $50,476,697 and
total debts of $17,853,997.

Industrial Enterprises originally operated as a holding company
with four wholly owned subsidiaries, PPH, EMC, Unifide, and
Today's Way.  PPH, through its wholly owned subsidiary, PPO, was a
leading manufacturer, marketer and seller of automotive chemicals
and additives.

EMC's original business consisted of converting hydrofluorocarbon
gases R134a and R152a into branded private label refrigerant and
propellant products.  Unifide was a leading marketer and seller of
automotive chemicals and additives.  Today's Way manufactured and
packaged the products which were sold by Unifide.

Norman L. Pernick was appointed as the chapter 11 trustee for the
Debtors.  The trustee tapped Cole, Schotz, Meisel, Forman &
leonard, P.A., as counsel, and CohnReznick LLP as his exclusive
financial advisor.


JEMSEK CLINIC: Court Rejects Bids for Sanctions
-----------------------------------------------
Bankruptcy Judge J. Craig Whitley denied cross-motions for
sanctions filed in the lawsuit commenced by Blue Cross and Blue
Shield of North Carolina against Joseph Gregory Jemsek, M.D. and
the Jemsek Clinic P.A.

"Neither side is blameless; in zealously seeking victory, both have
skirted the edges of ethical conduct, discovery rules, and the duty
of candor. Many of the antics by both sides are more befitting of a
playground brawl than a federal court case. Even so, as far as
Defendants' current request for sanctions, the Court cannot find
that a "fraud has been practiced upon it, or that the very temple
of justice has been defiled," Judge Whitley said in February 6,
2015 Order available at http://bit.ly/1MbcxIVfrom Leagle.com.

The case is, BLUE CROSS AND BLUE SHIELD OF NORTH CAROLINA,
Plaintiff, Counterclaim Defendant. v. JEMSEK CLINIC, P.A. AND
JOSEPH JEMSEK, M.D. an individual, Defendants, Counterclaim
Plaintiffs, Adv. Proc. No. 07-3006 (Bankr. W.D.N.C.).

Jemsek Clinic, P.A., dba Jemsek Specialty Clinic, Lyme and Related
Diseases, PLLC, fka Jemsek Clinic, PLLC --
http://www.jemsekclinic.com/-- operates a center for the practice
of internal medicine and infectious diseases in Huntersville, N.C.
The center specializes in general infectious disease diagnosis and
treatment, with a primary focus on HIV/AIDS and Lyme Disease.  The
debtor sought chapter 11 protection (Bankr. W.D.N.C. Case No.
06-31766) on Oct. 25, 2006, and is represented by Travis W. Moon,
Esq., at Hamilton Fay Moon Stephens Steele & Martin, PLLC, in
Charlotte, N.C.  At the time of the filing, the Debtor estimated
its assets and debts at less than $10 million.


LANGTREE VENTURES: Retains Keen-Summit to Auction Office Building
-----------------------------------------------------------------
Keen-Summit Capital Partners LLC has been retained to market a
portfolio of 3 Medical Office Buildings in Charlotte, NC pursuant
to a bankruptcy auction to be held on March 17, 2015.  The
buildings are located 1928 Randolph Road, 1946 Randolph Road
(parking lot), 1960 Randolph Road and 2115 East 7th Street in
Charlotte, in the heart of the Novant Health / Presbyterian Medical
Center area.

The properties are being sold as part of the Langtree Ventures MOB,
LLC bankruptcy proceeding, with Keen-Summit working with the court
appointed Trustee, Edward P. Bowers of the Gastonia, NC based firm
of Middleswarth, Bowers & Co.  The court approved Bid Qualification
Deadline is March 6, 2015, and the auction is scheduled for March
17, 2015.  The Minimum Bid for the portfolio is $9,000,000.  Bid
procedures and additional information are available and offers can
be accepted by the Trustee prior to the Bid Qualification
Deadline.

"This is an extraordinary opportunity to acquire 3 income producing
properties in the thriving Novant Health medical center area", said
Keen-Summit Principal and Managing Director Matthew Bordwin.  "The
Randolph Road buildings are located adjacent to Novant's Midtown
Medical Center Urgent Care building and the East 7th Street
building is located less than a mile away.  The two smaller
buildings are both 100% occupied and the larger building has
tremendous upside."

The three buildings total 55,264± sf, with the 1928 Randolph Road
property being 33,658± sf on .98 acres, the 1960 Randolph Road
building being 12,606± sf on .92 acres and the 2115 East 7th
Street property being 9,000± sf on .58 acres.  Situated between
the 1928 and 1960 Randolph Road buildings is a .65 acre parking
lot.

Keen-Summit Capital Partners LLC was retained by Order of the
United States Bankruptcy Court, Western District of North Carolina,
Statesville Division on February 2, 2015.  For more information
about the building and/or the sale process, contact Matthew Bordwin
at mbordwin@keen-summit.com
Craig Fox at cafox@keen-summit.com or Doug Greenspan at
dgreenspan@keen-summit.com or call 646-381-9222.

Located in New York, Keen-Summit Capital Partners LLC, --
http://www.keen-summit.com-- provides real estate analysis,
valuation and strategic planning services, brokerage, M&A, auction
services, lease restructuring services and real estate capital
market services.


LIGHTSQUARED INC: Judge Dismisses Most of GPS Suit
--------------------------------------------------
Joseph Checkler, writing for The Wall Street Journal, reported that
Judge Richard M. Berman of the U.S. District Court in Manhattan has
dismissed much of the lawsuit LightSquared Inc. and Harbinger
Capital Partners filed against companies in the
global-positioning-system industry but said LightSquared can
proceed with claims that the GPS equipment interferes with
LightSquared's network.

According to the report, Judge Berman tossed most of the claims
against the GPS companies, Garmin Ltd. and Trimble Navigation Ltd.,
as well as ones against Deere & Co., including one for unjust
enrichment and another for breach of contract.  All of
Harbinger’s claims are gone, while nine of 11 LightSquared ones
were thrown out, the Journal said.

                     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.

                          *     *     *

The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York on Jan. 20, 2015, approved the second
amended specific disclosure statement explaining Lightsquared Inc.,
et al.'s second amended joint plan, and will hold hearing on March
29, 2015, at 10:00 a.m. (prevailing Eastern time) to consider
confirmation of the second amended joint plan filed by Lightsquared
and its debtor-affiliates together with Fortress Credit
Opportunities Advisor LLC, Harbinger Capital Partners LLC, and
Centerbridge Partners LP.



LLS AMERICA: Ch.11 Trustee Wins Judgment Against 685937 BC Ltd
--------------------------------------------------------------
Chief District Judge Rosanna Malouf Peterson said Bruce P. Kriegman
-- solely in his capacity as court-appointed Chapter 11 Trustee for
debtor LLS America, LLC -- is awarded Judgment against defendant
685937 BC, Ltd. as follows:

     a. Judgment C$989,235.04

     b. Plus prejudgment interest of C$25,781.90 from July 21, 2009
to February 4, 2015, and continuing thereafter until entry of this
judgment, at the federal rate of 0.47% per annum

     c. Judgment US$20,400.00

     d. Plus prejudgment interest of US$531.67 from July 21, 2009
to February 4, 2015, and continuing thereafter until entry of this
judgment, at the federal rate of 0.47% per annum

     e. Plus taxable costs in the amount to be determined by the
Court

     f. Plus post-judgment interest from the date of Judgment until
fully paid at the federal rate of 0.17% per annum (28 U.S.C. Sec.
1961)

All proofs of claim filed by the Defendants in the Debtor's
bankruptcy proceedings or any claims that may arise are disallowed
pursuant to 11 U.S.C. Sec. 502(d) unless and until the avoided
transfers are returned to the Trustee-Plaintiff.

The case is, BRUCE P. KRIEGMAN, solely in his capacity as
court-appointed Chapter 11 Trustee for LLS America, LLC, Plaintiff,
v. MARTINA PEIPER, et al., Defendants, No. 12-CV-628-RMP (E.D.
Wash.).  A copy of the Court's February 5, 2015 Judgment and
Judgment Summary is available at http://is.gd/cs2CuMfrom
Leagle.com.

                     About Little Loan Shoppe

LLS America LLC, doing business as Little Loan Shoppe, operated an
online payday loan business.  Affiliate Team Spirit America
provided the manpower, management and equipment for Little Loan
Shoppe.  The companies are among a multitude of Canadian and
American business entities owned and operated by Doris E. Nelson,
a/k/a Dee Nelson, a/k/a Dee Foster.  Investors claimed Ms. Nelson
operated a Ponzi scheme.  Ms. Nelson allegedly told investors they
could earn as much as 60% on money her companies used to make
payday loans to consumers.  American and Canadian investors bought
notes worth US$29 million and another C$26,000,000.  However, the
investors received no payments after March 2009.

One investor group placed a related company, LLS-A LLC, into
bankruptcy in July 10, 2009.

LLS America LLC filed for bankruptcy (Bankr. D. Nev. Case No.
09-23021) on July 21, 2009, before Judge Linda B. Riegle.  Gregory
E. Garman, Esq., at Gordon Silver, served as the Debtor's counsel.
In its petition, the Debtor disclosed $2,661,584 in assets and
$24,013,837 in debts.  The petition was signed by Ralph Gamble,
CEO of the Company.

The case was subsequently moved to Washington state (Bankr. E.D.
Wash. Case No. 09-06194).  Charles Hall was appointed as examiner
in the case.


LLS AMERICA: Trustee Wins $143,000 Judgment Against Heidi Schulze
-----------------------------------------------------------------
Chief District Judge Rosanna Malouf Peterson awarded Bruce P.
Kriegman -- solely in his capacity as court-appointed Chapter 11
Trustee for debtor LLS America, LLC -- judgment against defendant
Heidi Schulze as follows:

     a. Judgment US$142,187.33

     b. Plus prejudgment interest of US$3,705.75 from July 21,
2009, to February 4, 2015, and continuing thereafter until entry of
this judgment, at the federal rate of 0.47% per annum

     c. Plus taxable costs in the amount to be determined by the
Court

     d. Plus post-judgment interest from the date of Judgment until
fully paid at the federal rate of 0.17% per annum (28 U.S.C. Sec.
1961).

All proofs of claim filed by the Defendants in the Debtor's
bankruptcy proceedings or any claims that may arise are disallowed
unless and until the avoided transfers are returned to the
Trustee-Plaintiff.

The case is, BRUCE P. KRIEGMAN, solely in his capacity as
court-appointed Chapter 11 Trustee for LLS America, LLC, Plaintiff,
v. MARTINA PEIPER, et al., Defendants, No. 12-CV-628-RMP (E.D.
Wash.).  A copy of the Court's February 4, 2015 Judgment Summary is
available at http://is.gd/ItXCmzfrom Leagle.com.

                     About Little Loan Shoppe

LLS America LLC, doing business as Little Loan Shoppe, operated an
online payday loan business.  Affiliate Team Spirit America
provided the manpower, management and equipment for Little Loan
Shoppe.  The companies are among a multitude of Canadian and
American business entities owned and operated by Doris E. Nelson,
a/k/a Dee Nelson, a/k/a Dee Foster.  Investors claimed Ms. Nelson
operated a Ponzi scheme.  Ms. Nelson allegedly told investors they
could earn as much as 60% on money her companies used to make
payday loans to consumers.  American and Canadian investors bought
notes worth US$29 million and another C$26,000,000.  However, the
investors received no payments after March 2009.

One investor group placed a related company, LLS-A LLC, into
bankruptcy in July 10, 2009.

LLS America LLC filed for bankruptcy (Bankr. D. Nev. Case No.
09-23021) on July 21, 2009, before Judge Linda B. Riegle.  Gregory
E. Garman, Esq., at Gordon Silver, served as the Debtor's counsel.
In its petition, the Debtor disclosed $2,661,584 in assets and
$24,013,837 in debts.  The petition was signed by Ralph Gamble,
CEO of the Company.

The case was subsequently moved to Washington state (Bankr. E.D.
Wash. Case No. 09-06194).  Charles Hall was appointed as examiner
in the case.


LLS AMERICA: Trustee Wins C$657,000 Judgment Against Foerstner
--------------------------------------------------------------
Chief District Judge Rosanna Malouf Peterson said Bruce P. Kriegman
-- solely in his capacity as court-appointed Chapter 11 Trustee for
debtor LLS America, LLC -- is awarded Judgment against defendant
Tyler Foerstner as follows:

     a. Judgment C$641,650.00

     b. Plus prejudgment interest of C$16,722.98 from July 21, 2009
to February 4, 2015, and continuing thereafter until entry of this
judgment, at the federal rate of 0.47% per annum

     c. Plus taxable costs in the amount to be determined by the
Court

     d. Plus post-judgment interest from the date of Judgment until
fully paid at the federal rate of 0.17% per annum (28 U.S.C. Sec.
1961)

All proofs of claim filed by the Defendants in the Debtor's
bankruptcy proceedings or any claims that may arise are disallowed
unless and until the avoided transfers are returned to the
Trustee-Plaintiff.  The Defendant's claim(s) are equitably
subordinated such that all proofs of claim that may arise or that
have been filed or brought or that may be filed or brought by, on
behalf of, or for the benefit of Foerstner, against the Debtor's
estate, in the Debtor's bankruptcy or related bankruptcy
proceedings are subordinated to all other unsecured claims,
pursuant to 11 U.S.C. Sections 510(c)(1) and 105(a).

The case is, BRUCE P. KRIEGMAN, solely in his capacity as
court-appointed Chapter 11 Trustee for LLS America, LLC, Plaintiff,
v. MARTINA PEIPER, et al., Defendants, No. 12-CV-628-RMP (E.D.
Wash.).  A copy of the Court's February 5, 2015 Judgment and
Judgment Summary against Tyler Foerstner is available at
http://is.gd/8tjSXXfrom Leagle.com.

                     About Little Loan Shoppe

LLS America LLC, doing business as Little Loan Shoppe, operated an
online payday loan business.  Affiliate Team Spirit America
provided the manpower, management and equipment for Little Loan
Shoppe.  The companies are among a multitude of Canadian and
American business entities owned and operated by Doris E. Nelson,
a/k/a Dee Nelson, a/k/a Dee Foster.  Investors claimed Ms. Nelson
operated a Ponzi scheme.  Ms. Nelson allegedly told investors they
could earn as much as 60% on money her companies used to make
payday loans to consumers.  American and Canadian investors bought
notes worth US$29 million and another C$26,000,000.  However, the
investors received no payments after March 2009.

One investor group placed a related company, LLS-A LLC, into
bankruptcy in July 10, 2009.

LLS America LLC filed for bankruptcy (Bankr. D. Nev. Case No.
09-23021) on July 21, 2009, before Judge Linda B. Riegle.  Gregory
E. Garman, Esq., at Gordon Silver, served as the Debtor's counsel.
In its petition, the Debtor disclosed $2,661,584 in assets and
$24,013,837 in debts.  The petition was signed by Ralph Gamble,
CEO of the Company.

The case was subsequently moved to Washington state (Bankr. E.D.
Wash. Case No. 09-06194).  Charles Hall was appointed as examiner
in the case.


LLS AMERICA: Trustee Wins Judgment Against Gudrun Foerstner
-----------------------------------------------------------
Bruce P. Kriegman, solely in his capacity as court-appointed
Chapter 11 Trustee for debtor LLS America, LLC, is awarded Judgment
against Gudrun Foerstner:

     a. Judgment C$575,526.53

     b. Plus prejudgment interest of C$14,999.64 from July 21,
2009, to February 4, 2015, and continuing thereafter until entry of
the judgment, at the federal rate of 0.47% per annum

     c. Judgment US$7,733.14

     d. Plus prejudgment interest of US$201.54 from July 21, 2009,
to February 4, 2015, and continuing thereafter until entry of this
judgment, at the federal rate of 0.47% per annum

     e. Plus taxable costs in the amount to be determined by the
Court

     f. Plus post-judgment interest from the date of Judgment until
fully paid at the federal rate of 0.17% per annum (28 U.S.C. Sec.
1961); and

All proofs of claim filed by the Defendants in the Debtor's
bankruptcy proceedings or any claims that may arise are disallowed
unless and until the avoided transfers are returned to the
Trustee-Plaintiff.

The case is, BRUCE P. KRIEGMAN, solely in his capacity as
court-appointed Chapter 11 Trustee for LLS America, LLC, Plaintiff,
v. MARTINA PEIPER, et al., Defendants, No. 12-CV-628-RMP (E.D.
Wash.).  A copy of Chief District Judge Rosanna Malouf Peterson's
Judgment Summary dated February 5, 2015, is available at
http://is.gd/AdeqyUfrom Leagle.com.

                     About Little Loan Shoppe

LLS America LLC, doing business as Little Loan Shoppe, operated an
online payday loan business.  Affiliate Team Spirit America
provided the manpower, management and equipment for Little Loan
Shoppe.  The companies are among a multitude of Canadian and
American business entities owned and operated by Doris E. Nelson,
a/k/a Dee Nelson, a/k/a Dee Foster.  Investors claimed Ms. Nelson
operated a Ponzi scheme.  Ms. Nelson allegedly told investors they
could earn as much as 60% on money her companies used to make
payday loans to consumers.  American and Canadian investors bought
notes worth US$29 million and another C$26,000,000.  However, the
investors received no payments after March 2009.

One investor group placed a related company, LLS-A LLC, into
bankruptcy in July 10, 2009.

LLS America LLC filed for bankruptcy (Bankr. D. Nev. Case No.
09-23021) on July 21, 2009, before Judge Linda B. Riegle.  Gregory
E. Garman, Esq., at Gordon Silver, served as the Debtor's counsel.
In its petition, the Debtor disclosed $2,661,584 in assets and
$24,013,837 in debts.  The petition was signed by Ralph Gamble,
CEO of the Company.

The case was subsequently moved to Washington state (Bankr. E.D.
Wash. Case No. 09-06194).  Charles Hall was appointed as examiner
in the case.


LOCUST HILL FARMS: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Locust Hill Farms & Development Corporation
        848 N. Rainbow Blvd., Suite 2420
        Las Vegas, NV 89107

Case No.: 15-10585

Chapter 11 Petition Date: February 9, 2015

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. August B. Landis

Debtor's Counsel: Jason M. Wiley, Esq.
                  KOLESAR & LEATHAM, CHTD.
                  400 South Rampart Blvd., Suite 400
                  Las Vegas, NV 89145
                  Tel: (702) 362-7800
                  Fax: (702) 362-9472
                  Email: jwiley@klnevada.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $100,000 to $500,000

The petition was signed by Graig Arcuri,
shareholder/director/officer.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/nvb15-10585.pdf


MAGNESIUM CORP: Rennert Says Dividend Didn't Fund Hamptons Mansion
------------------------------------------------------------------
Stephanie Gleason, writing for The Wall Street Journal, reported
that billionaire Ira Rennert, in a testimony before a jury in
Manhattan federal court, said the $118 million in dividends taken
by his Renco Group from a magnesium-mining subsidiary wasn't used
to build or buy his palatial 29-bedroom estate in the Hamptons.

However, Mr. Rennert admitted that the property, thought to be one
of the largest residential homes in the U.S., was built completely
with money from his company, Renco Group, which also owns the
property, according to the Journal.

The Troubled Company Reporter previously reported that Mr. Rennert
was summoned by a bankruptcy trustee who's seeking as much as $600
million for creditors of Magnesium Corp.

Magnesium Corporation of America, a unit of Renco Group Inc., was
the largest single producer of magnesium in the United States.
The
Company filed for chapter 11 protection (Bankr. S.D.N.Y. Case No.
01-14312) on Aug. 2, 2001.  The Debtors sold substantially all of
their assets to U.S. Magnesium, LLC, in a Sec. 363 asset sale
transaction.  Judge Robert Gerber ordered the case converted to a
chapter 7 liquidation on Sept. 24, 2003.  When the Company filed
for Chapter 11 protection from its creditors, it listed debts and
assets of more than $100 million.


NATIONAL RURAL UTILITIES: Court OKs Sanctions in Exec's Bankruptcy
------------------------------------------------------------------
Law360 reported that the Third Circuit reinstated sanctions against
counsel the former chief of a defunct telecommunications firm over
the filing of an adversarial complaint in the executive's messy
bankruptcy, saying the complaint was filed in bad faith and
increased costs of the proceedings.

According to the report, in a precedential decision, the appeals
court said filings brought on behalf of Jeffrey Prosser by his
attorneys "vexatiously and unnecessarily multiplied the bankruptcy
proceedings."  Prosser, through his attorneys, had accused the
bankruptcy trustee and others of bribing his former valet and
assistant, the report related.




NATROL INC: Seeks March 9 Extension of Plan Filing Date
-------------------------------------------------------
Leaf123, Inc., f/k/a Natrol, Inc., and its debtor affiliates filed
a second motion asking the U.S. Bankruptcy Court for the District
of Delaware to further extend their exclusive plan filing period
through and including March 9, 2015, and their exclusive
solicitation period through and including May 7, 2015.

According to Ian J. Bambrick, Esq., at Young Conaway Stargatt &
Taylor, LLP, in Wilmington, Delaware, the Debtors have been
awaiting delivery of the purchase price allocation and the
valuation of the assets for the purposes of determining sales tax.
In addition, the Debtors have been attempting to resolve disputes
raised by the successful bidder regarding certain liabilities.  The
delay in receiving the purchase price allocation has hindered the
Debtors' ability to finalize the Plan and related disclosure
statement, Mr. Bambrick tells the Court.

In addition, there was a significant delay in receiving comments to
the current version of the Plan from the Debtors' equity holders
while they conducted an independent analysis of certain tax
consequences to equity, Mr. Bambrick says.  Furthermore, in regard
to a plan, the Debtors recently received initial comments from
their equity holders and the Official Committee of Unsecured
Creditors and hope to have fruitful discussions with respect to the
same in the near term, Mr. Bambrick adds.

                     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.


O.W. BUNKER: Asks Court to Extend Deadline to Remove Suits
----------------------------------------------------------
O.W. Bunker Holding North America Inc. has filed a motion seeking
additional time to remove civil lawsuits involving the company and
its affiliates.

The company wants the deadline extended until the date the
bankruptcy court overseeing its Chapter 11 case confirms any
Chapter 11 plan filed in its case.  The current deadline is set to
expire on Feb. 11.

The extension will give O.W. Bunker opportunity to make
"fully-informed decisions" concerning removal of any lawsuit
involving the company, according to its lawyer, Michael Enright,
Esq., at Robinson & Cole LLP, in Harford, Connecticut.

The motion is on U.S. Bankruptcy Judge Alan H.W. Shiff's calendar
for Feb. 17.  

                          About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.

On Nov. 6, 2014, OW Bunker A/S placed OWB Trading and O.W. Bunker
Supply & Trading A/S in an in-court restructuring procedure with
the probate court in Aalborg, Denmark.  By Nov. 7, 2014, the Danish
entities (plus O.W. Bunker Supply & Trading A/S, O.W. Cargo Denmark
A/S, and Dynamic Oil Trading A/S) were placed under formal Danish
bankruptcy (liquidation) proceedings in the Aalborg probate court.

The company declared bankruptcy following its admission that it had
lost US$275 million through a combination of fraud committed by
senior executives at its Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and O.W.
Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn. Case
Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13, 2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.

The Office of the United States Trustee formed an official
committee of unsecured creditors of the Debtors on Nov. 26, 2014.


ORBITAL ATK: S&P Raises CCR to 'BB+' on Spin-Off, Merger
--------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on U.S.
aerospace and defense contractor Orbital ATK Inc. (formerly Alliant
TechSystems Inc., or ATK) by one notch, including the corporate
credit rating to 'BB+' from 'BB'.

At the same time, S&P raised its issue-level rating on the secured
debt to 'BBB' from 'BBB-'.  The '1' recovery rating is unchanged,
indicating S&P's expectation for very high recovery (90%-100%) in a
simulated default.

S&P also raised the issue-level rating on the unsecured debt to
'BB-' from 'B+'.  The '6' recovery rating is unchanged, indicating
S&P's expectation for negligible (0%-10%) recovery.

S&P discontinued its 'B+' rating and the '6' recovery rating on the
$350 million subordinated notes that the company repaid as part of
the transaction.

The upgrade reflects key credit metrics that were largely unchanged
as a result of the spin-off and merger, and increased confidence
that credit metrics will not deteriorate.  This confidence comes
after management reduced debt to offset the earnings lost from the
spin-off of the sporting business (now known as Vista Outdoor); the
Orbital Sciences acquisition should recoup some of the lost
earnings, but not all.  The previous rating incorporated some
uncertainty about management's financial policies, including the
potential that leverage could increase to fund an acquisition of
this magnitude.

In conjunction with the spin-off, ATK received a dividend from
Vista that the company used to repay about $350 million of existing
debt, resulting in pro forma debt to EBITDA of about 3x and funds
from operations (FFO) to debt of just below 25%.  Orbital Sciences,
which employed a conservative strategy in the past, will have nine
directors on the new 16 member board, so S&P do not anticipate
leverage to increase materially over the next two to three years.

"We believe the merger will be slightly negative from a business
risk perspective because the combined company loses meaningful
diversification benefits provided by Vista, which has better growth
prospects and different sources of demand than the defense
segments, although sales tend to be more volatile," said Standard &
Poor's credit analyst Chris Mooney.  "This is largely offset by the
company's improved competitiveness in the remaining aerospace and
defense markets, as the addition of Orbital Sciences adds rocket
and satellite design and manufacturing capabilities to ATK. The
merger also provides some vertical integration benefits, as ATK
supplied engines to Orbital Sciences.  This should enable the
combined company to lower its cost structure, as well as create
opportunities to compete for larger defense contracts that require
more integrated systems in the future."

The stable outlook reflects Standard & Poor's belief that Orbital
ATK will successfully integrate the acquired operations and that
management will not pursue financial policies that would jeopardize
the rating by materially increasing leverage.  Pro forma credit
metrics will likely improve modestly over the next year, thanks to
the benefits of earnings synergies and some debt reduction, but
will remain within the appropriate range for the current financial
risk profile, with FFO to debt between 25%-30% in fiscal 2016.



ORBITAL SCIENCES: S&P Discontinues 'BB+' CCR Over Alliant Deal
--------------------------------------------------------------
Standard & Poor's Ratings Services discontinued its 'BB+' corporate
credit rating on U.S. aerospace and defense company Orbital
Sciences Corp. following its acquisition by Alliant Techsystems
Inc. (to be called Orbital ATK Inc. following the transaction).
Orbital Sciences' debt has been repaid in conjunction with the
merger.

RATINGS LIST

Ratings Discontinued
                              To         From
Orbital Sciences Corp.
Corporate credit rating      N.R.       BB+/Watch Neg/--



PAR PHARMACEUTICAL: Moody's Affirms 'B2' Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Par
Pharmaceutical Companies, Inc., including the B2 Corporate Family
Rating and the B2-PD Probability of Default Rating based on the
company's intent to distribute a $535 million shareholder dividend.
The dividend will be funded with an incremental $425 million senior
secured term loan and $110 million of cash on hand. Moody's
assigned a B1 rating to the incremental term loan. At the same
time, Moody's changed the outlook to stable from negative.

Despite the aggressive return of capital to shareholders being
contemplated with the dividend, the change in the outlook reflects:
1) a number of recent launches of high margin products which
Moody's expects will result in higher near-term earnings and cash
flow, 2) the successful integration of JHP Pharmaceuticals
(acquired in February 2014) and 3) the resolution of litigation in
late 2014 for an amount that was manageable in the context of Par's
liquidity and cash flows. The prior negative outlook had
incorporated risk associated with significant uncertainty around
litigation-related cash outflows.

Moody's also changed Par's Speculative Grade Liquidity Rating to
SGL-1 (very good liquidity) from SGL-2, reflecting Moody's
expectation for improved near-term cash flow as well as the
expectation for reduced cash outflows for litigation in 2015.

The following ratings were affirmed:

Corporate Family Rating, at B2

Probability of Default Rating at B2-PD

$150 million senior secured revolving credit facility at B1 (LGD
3)

$1.44 billion senior secured term loan at B1 (LGD 3)

$490 million senior unsecured notes at Caa1 (LGD 6)

The following ratings were assigned:

$425 million add-on term loan at B1 (LGD 3)

The Speculative Grade Liquidity Rating was changed to SGL-1 from
SGL-2

The outlook is stable.

Par's B2 rating reflects its mid-tier position in the US generic
pharmaceutical market, in which it competes against substantially
larger and more diverse global players. Par competes largely on its
expertise in extended release formulations and other
difficult-to-make products, and its FDA quality track record that
has been strong to date. The ratings are supported by Moody's
expectation for good free cash flow and a favorable product
pipeline which should result in new product launches being
sufficient to offset declines in older products. The rating is
constrained by the company's adjusted debt to EBITDA, which will
increase to around 5.6x with the dividend. Moody's views this level
of leverage as being high in the context of the potential for
earnings volatility created by Par's concentration in a few
products, heightened manufacturing risk associated with sterile
injectables and the inherent fluctuations in generic drug pricing
and market share.

The ratings could be upgraded if Par's debt/EBITDA declines below
4.5 times or if Par substantially grows and diversifies its
revenue. This scenario could emerge with successful launches of
high value generic products, reduction in debt levels, and
disciplined business development.

The ratings could be downgraded if leverage is sustained above 6.0
times or if liquidity weakens. Such a scenario could arise with
another significant debt-financed acquisition or dividend, or a
major business disruption stemming from a manufacturing or
compliance issue.

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

Headquartered in Woodcliff Lake, New Jersey, Par Pharmaceutical
Companies, Inc. ("Par") is a specialty generic and branded
pharmaceutical company operating primarily in the United States.
The company expects to report revenues of approximately $1.3
billion for the twelve months ended December 31, 2014. The company
is owned by TPG Capital, L.P.



PAR PHARMACEUTICAL: S&P Affirms 'B' CCR; Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Woodcliff Lake, N.J.-based Par Pharmaceutical Cos.
Inc.  The outlook is stable.

S&P assigned a 'B' issue rating and '4' recovery rating to the
proposed $425 million term loan B-3.  The '4' recovery rating
indicates S&P's expectation for average (30% to 50%) recovery in a
payment default.

At the same time, S&P is affirming its 'B' rating on the existing
senior secured debt and revising its recovery rating on this debt
to '4' from '3' because of the increase in secured debt used to
fund the dividend.  S&P is also affirming its 'CCC+' rating on the
unsecured debt; the recovery rating on this debt remains '6'.

"The rating affirmation follows our expectation that pro forma
leverage will increase to 6.5x, from our prior expectation of about
6x at the end of 2014, following Par's issuance of $425 million of
debt to fund a sponsor dividend," said Standard & Poor's credit
analyst Michael Berrian.

S&P's base-case forecast for 2015 is that leverage will be more
than 6x and funds from operations (FFO) to total debt will be less
than 12%.  S&P expects EBITDA growth over the next one to two years
will reduce leverage to 5.0x to 5.5x, which is still consistent
with S&P's assessment of a "highly leveraged" financial risk
profile.  S&P also believes sponsor ownership will continue to
shape financial policy, keeping leverage at 5x or more, as the
company completes additional dividends or debt-financed
transactions to build scale or obtain additional manufacturing
capabilities.

The stable rating outlook on Par reflects S&P's expectation of
EBITDA growth and sustained free cash flow generation despite
modestly lower revenues in 2015.  It also reflects S&P's
expectation that leverage will remain at more than 5x over the next
year.

S&P could lower the rating if Par is unable to launch and
commercialize new products, particularly first-to-file products
given that they account for about one-third of its pipeline.  Such
a downgrade could occur if the business deterioration results in
materially lower revenues, EBITDA margins, or thin-to-negative free
cash flow.

S&P could raise the rating over the next 12 to 18 months if Par's
leverage declines to less than 5x through a combination of debt
reduction and EBITDA growth, providing S&P believes that the
company is committed to sustaining leverage at those levels.
Low-double-digit revenue growth and gross margin expansion to 53%
or more would result in leverage of about 5x.



PETSMART INC: S&P Lowers CCR to 'B+' on  Private Equity Acquisition
-------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Phoenix, Ariz.-based pet retailer PetSmart Inc. to 'B+'
from 'BB+'.  At the same time, S&P removed the rating from
CreditWatch, where it placed it with negative implications on
Dec. 15, 2014.

At the same time, S&P assigned its 'BB-' issue-level rating to the
company's proposed $4.3 billion seven-year term loan, with a '2'
recovery rating, indicating our expectation for substantial (70% to
90%) recovery in the event of default.  In addition, S&P rated the
$1.9 billion unsecured notes due 2023 'B-' with a '6' recovery
rating, indicating S&P's expectation for negligible (0 to 10%)
recovery.

Under the transaction by private equity owners, Argos Merger Sub
Inc., the acquiring entity, will merge into PetSmart, with PetSmart
continuing as the surviving entity and borrower under the term loan
and unsecured notes.  S&P's analysis assumes the transaction closes
as proposed.

"The downgrade reflects our view that acquisition-related debt
results in higher leverage, resulting in weaker credit protection
measures.  We expect the transaction to close by mid-2015 for a
total consideration of about $8.4 billion, of which $6.2 billion
will be financed with debt.  Pro forma for the transaction, we
estimate leverage of about 6.2x (on a lease-adjusted basis at
third quarter 2014)," said credit analyst Andy Sookram. "Although
we believe PetSmart will use most of its of its free cash flow for
debt reduction, we expect leverage in the high-5x area in the next
year.  We are therefore revising our assessment of its financial
risk profile to "highly leveraged" from "intermediate"."

The stable outlook reflects prospects for performance gains with
EBITDA margins improving to the high-18% area.  S&P believes the
company will continue to invest in e-commerce initiatives, which
should help to drive customer traffic in-store and online.  S&P
forecasts leverage to improve to slightly under 6x by year-end 2015
on earnings improvement and modest debt reduction.

Upside Scenario

S&P would consider raising the rating if PetSmart were to reduce
debt such that it sustains leverage under 5x and S&P has clarity
that financial sponsor ownership would decline over time.  S&P
believes this scenario could occur if debt declines by about $1.5
billion or EBTIDA increases by nearly 25%.  S&P would also need to
see financial sponsor ownership decline or be convinced that the
potential to add debt for shareholder remuneration was less likely.
If PetSmart's financial sponsor ownership declined or financial
policy clearly shifted from the possibility of further
releveraging, S&P could view financial policy more favorably and
could revise its financial policy modifier to 'FS-5' from 'FS-6'.

Downside scenario

S&P could consider lowering the rating if operating performance
worsens from poor execution of its e-commerce initiatives, or if
competition increases, especially from large discounters and online
retailers.  Such a scenario could lead S&P to revise the business
risk profile to "fair" or lower.  A negative rating action could
also result from material debt-funded dividends to the sponsors
that would allow leverage to remain over 6x on a sustained basis.
Under this situation, S&P would reassess financial policy to 'FS-6
minus'.



PETTERS GROUP: GE Capital Urges Consolidation of Suits
------------------------------------------------------
Law360 reported that General Electric Capital Corp. asked the U.S.
Judicial Panel on Multidistrict Litigation to combine four lawsuits
accusing the company of participating in the $3.6 billion Ponzi
scheme orchestrated by Tom Petters.

According to the report, Miles Ruthberg of Latham & Watkins LLP,
who argued on behalf of GECC, told the panel in Miami that there
was "no question these cases are complex and would benefit from MDL
treatment."  GECC is accused of knowing about and furthering the
third-largest Ponzi scheme in history, the report related.

The case is In re: General Electric Capital Corporation Thomas
Petters Investment Litigation, Case No. 2603 (MDL).

                    About Petters Company, Inc.

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Douglas Kelley, the Chapter 11 Trustee of Petters Company, Inc.,
et al., is represented by James A. Lodoen, Esq., at Lindquist &
Vennum LLP, in Minneapolis, Minn.  The trustee tapped Haynes and
Boone, LLP as special counsel, and Martin J. McKinley as his
financial advisor.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.


PETTERS GROUP: JPMorgan Says Bankruptcy Kill $3.7B Ponzi Suit
-------------------------------------------------------------
Law360 reported that JPMorgan Chase & Co. asked a Minnesota federal
judge to toss a complaint brought by hedge funds alleging the bank
and others aided and abetted disgraced businessman Thomas Petters'
$3.7 billion Ponzi scheme, saying the claims were time-barred and
voided by related bankruptcy litigation.

According to the report, in a memorandum supporting its motion to
dismiss the case, JPMorgan argued that the January 2014 suit by
Ritchie Capital Management LLC and other hedge funds was
time-barred because it was filed more than five years after the
loans.

The case is Ritchie Capital Management, L.L.C. et al v. JPMorgan
Chase & Co. et al., Case No. 0:14-cv-04786 (D. Minn.), before Judge
Donovan W. Frank.

                    About Petters Company, Inc.

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Douglas Kelley, the Chapter 11 Trustee of Petters Company, Inc.,
et al., is represented by James A. Lodoen, Esq., at Lindquist &
Vennum LLP, in Minneapolis, Minn.  The trustee tapped Haynes and
Boone, LLP as special counsel, and Martin J. McKinley as his
financial advisor.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.


PHOENIX PAYMENT: Wants Deadline to Remove Suits Moved to May 4
--------------------------------------------------------------
Phoenix Payment Systems Inc. asked U.S. Bankruptcy Judge Mary
Walrath to move the deadline for filing notices of removal of
lawsuits to May 4.

The extension will provide the company with "adequate time to
evaluate any pending litigation matters properly within the larger
context of the Chapter 11 case," according to its lawyer, Rachel
Biblo, Esq., at Richards, Layton & Finger P.A., in Wilmington,
Delaware.

A court hearing is scheduled for Feb. 26.

                      About Phoenix Payment

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

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

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

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

Judge Mary F. Walrath presides over the case.

The Debtor's attorneys are Richard J. Bernard, Esq., at Foley &
Lardner LLP, in New York; and Mark D. Collins, Esq., Russell
Siberglied, Esq., Zachary I Shapiro, Esq., and Marisa A. Terranova,
Esq., at Richards Layton & Finger, P.A., in Wilmington, Delaware.


The Debtor's banker and financial advisor is Raymond James &
Associates, Inc., while Bederson, LLC, is the Debtor's accountant.
PMCM, LLC, provides advisory services and executive leadership to
the Debtor.  The Debtor's claims and noticing agent is Omni
Management Group, LLC.

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

                          *     *     *

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

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


PICACHO HILLS UTILITY: New Mexico Judge Okays Release of Funds
--------------------------------------------------------------
Bankruptcy Judge David T. Thuma granted the request of the Chapter
7 Trustee for Picacho Hills Utility Company, Inc., for an order
directing the release of funds from the Court's registry.

Judge Thuma said there is no need for the Court to retain the Held
Funds. The funds should be transferred to the Trustee, who will
invest, administer, and distribute them in accordance with the law
and his fiduciary duties.

The Court overruled objections filed by the debtor's former
counsel, William F. Davis & Assoc., P.C., and by Mr. Stephen C.
Blanco.  Judge Thuma said the interests of Davis & Associates and
Blanco will be fully protected, whether the funds are held by the
Court or transferred to the Trustee.

Picacho Hills Utility Company, Inc., filed a Chapter 11 petition
(Bankr. D. N.M. Case No. 13-10742) on March 7, 2013.  The Debtor
is represented by William F. Davis & Associates, P.C.  The Debtor
estimated assets of at least $10 million and debts of at least
$1 million.

PHUC was a public utility as defined by the New Mexico Public
Utility Act, Sec. 62-3-3.G. and provides water and sewer service
to approximately one thousand residences in Dona Ana County, New
Mexico.  PHUC was 100% owned by Stephen C. Blanco, who is its
president.

At the time of filing, Debtor's assets were held by a state court
receiver, Robert Martin.  Mr. Martin had marketed the assets and
had found a buyer (the Dona Ana County Mutual Water District)
willing to pay a price Mr. Martin thought reasonable. Mr. Martin
had filed a motion in the receivership action, seeking authority
from the state court judge to sell the Debtor's assets to the water
district for the negotiated price. The Debtor opposed the motion.
The Debtor filed this case before a hearing on the receiver's
motion to sell the assets.

The receiver retained bankruptcy counsel, who filed a motion asking
the Court, inter alia, to abstain from hearing the case so the
state court could rule on the receiver's motion to sell. After a
trial on the merits, across four days in April of 2013 the Court
entered an order abstaining until the sales process had been
completed.

The state court subsequently approved the receiver's sale motion,
and the sale eventually closed. After paying all costs of sale and
all encumbrances on the transferred assets, the receiver held net
proceeds of $726,191. These he deposited in the Court registry on
March 31, 2014.

The Court "reactivated" the Chapter 11 case at that time so the
Held Funds could be distributed in accordance with the priority
scheme set out in the Bankruptcy Code.

On May 12, 2014, the United States Trustee's office filed a motion
to convert the case to Chapter 7. After a full evidentiary hearing,
on September 17, 2014 the Court entered an order converting the
case to Chapter 7. The Trustee was appointed the next day.

Davis & Associates argues in its objection that "[f]unds in the
Court Registry are secure, protected by the Local Rule, and because
the amount deposited in this matter is significant, the funds
should remain in place."

Blanco argues that the receiver sale of the Debtor's assets was
improper because the receiver vastly undervalued the Debtor's water
rights. The actual sales price, approved by the state court, was
about $2,150,000. Blanco asserts that the true value of the
transferred assets, including water rights, was as much as $16
million higher.

Blanco apparently plans to bring an action for damages in the
United States District Court for the District of New Mexico against
the receiver, the appraiser retained by the receiver, and/or the
receiver's counsel. Additional claims against unspecified parties,
for conspiracy and improper taking pursuant to the Fifth Amendment
of the Constitution, might also be asserted. Pending the outcome of
the litigation, Blanco asks that the Court not allow distribution
of any Held Funds for post-petition services. Blanco does not
explain the connection between the claims he alleges and
withholding payment to professionals retained by the estate (i.e.,
the Debtor's counsel and accountants, and the Trustee's counsel).
The connection is not apparent to the Court.

A copy of the Court's February 5, 2015 Memorandum Opinion is
available at http://is.gd/fAORpJfrom Leagle.com.


PREMIERE HARDWOODS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Premiere Hardwoods, LLC
            dba Superior Hardwoods
            dba Premiere Manufacturing
        5609 W. Latham Street, #105
        Phoenix, AZ 85043

Case No.: 15-01182

Chapter 11 Petition Date: February 9, 2015

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

Judge: Hon. Brenda Moody Whinery

Debtor's Counsel: Allan D. Newdelman, Esq.
                  ALLAN D NEWDELMAN PC
                  80 E. Columbus Ave.
                  Phoenix, AZ 85012
                  Tel: 602-264-4550
                  Fax: 602-277-0144
                  Email: anewdelman@adnlaw.net

Total Assets: $716,379

Total Liabilities: $1.85 million

The petition was signed by David Weston, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-01182.pdf


PROJECT PORSCHE: S&P Lowers CCR to 'CCC+'; Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Bloomington, Minn.-based Project Porsche Holdings
Corp. to 'CCC+' from 'B'.  The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's first-lien credit facility to 'B-' from 'BB-' and revised
the recovery rating to '2' from '1'.  The '2' recovery rating
indicates S&P's expectation for substantial (70% to 90%) recovery
in the event of payment default.  S&P also lowered the issue-level
rating on the company's second-lien term loan to 'CCC-' from 'B-'
and revised the recovery rating to '6' from '5'. The '6' recovery
rating indicates S&P's expectation for negligible (0% to 10%)
recovery in the event of payment default.

"Our downgrade of Project Porsche to 'CCC+' reflects the company's
weaker-than-expected business performance over the past few
quarters, as demonstrated by its lower bookings and cash receipt on
a year-over-year basis, leading to less than 10% covenant cushion
by quarters ended July 31 and Oct. 31, 2014," said Standard &
Poor's credit analyst Tuan Duong.

Additionally, the company recently entered into a forbearance
agreement with its lenders, indicating that it will likely violate
its financial covenants for the quarter ended Jan. 31, 2015.
Project Porsche's management team, along with its financial
sponsors, is currently in discussions with its lenders to cure any
potential covenant violations and to amend its existing credit
agreement allowing for covenant relief over the near term.

The rating reflects S&P's view of Project Porsche's liquidity as
"less than adequate" (in accordance with S&P's criteria) as a
result of its covenant headroom being marginally in compliance with
requirement in the quarter ended Oct. 31, 2014, and its expected
financial covenant violation for the quarter ended
Jan. 31, 2015.  Covenant headroom was greater than 20% at the
fiscal year ended Oct. 31, 2013.  However, covenant step-downs and
weaker-than-expected business performance over the past few
quarters have caused its covenant cushion to significantly tighten.
Free operating cash flow (FOCF) in fiscal 2014 was slightly
negative, as compared to it being slightly positive in fiscal 2013,
and cash on hand was about $12 million at Oct. 31, 2014, down from
about $20 million a year ago.  S&P views Project Porsche's
financial risk profile as "highly leveraged," with adjusted
leverage in the mid-6x area, up from about 6x a year ago.

The negative outlook reflects S&P's expectation that the company's
weak business performance will continue and its liquidity will
continue to be constrained over the next 12 months without covenant
relief.

S&P could lower the rating if the company's liquidity position does
not improve sufficiently, it is unable to obtain a covenant waiver
or amend its credit agreement, or its financial sponsor does not
provide an equity cure necessary to satisfy any covenant
violations.

S&P could raise the rating or revise the outlook to stable if the
company's business performance improves or the credit agreement is
amended, such that covenant cushion of more than 10% is restored,
after taking into account future covenant step-downs.



PROSPECT PARK: Asks Court to Extend Deadline to Remove Suits
------------------------------------------------------------
Prospect Park Networks LLC has filed a motion seeking additional
time to remove civil lawsuits involving the company.

In its motion, the company proposed to extend the deadline for
filing notices of removal of lawsuits filed before and after its
bankruptcy filing to April 6.

The extension will give Prospect Park opportunity to make
"fully-informed decisions" concerning removal of any lawsuit
involving the company, according to its lawyer, William Chipman
Jr., Esq., at Chipman Brown Cicero & Cole LLP, in Wilmington,
Delaware.

The motion is on U.S. Bankruptcy Judge Mary Walrath's calendar for
March 19.  Objections are due by March 12.

                   About Prospect Park Networks

Prospect Park Networks, LLC, a Los Angeles, Calif.-based talent and
management company, filed for Chapter 11 bankruptcy (Bankr. D. Del.
Case No. 14-10520) in Wilmington, on March 10, 2014, estimating $50
million to $100 million in assets, and $10 million to $50 million
in debts.  The petition was signed by Jeffrey Kwatinetz,
president.

William E. Chipman, Jr., Esq., and Mark D. Olivere, Esq., at
Cousins Chipman & Brown LLP, in Wilmington, Delaware; and John H.
Genovese, Esq., Michael Schuster, Esq., and Heather L. Harmon,
Esq., at Genovese Joblove & Battista, P.A., serve as the Debtor's
bankruptcy counsel.  The Debtor also hired Cohn Reznick LLP as an
ordinary course professional.

The U.S. Trustee for Region 3 selected three creditors to serve on
the Official Committee of Unsecured Creditors.  Cole, Schotz,
Meisel, Forman & Leonard, P.A., serves as the Committee's counsel.


RAAM GLOBAL: S&P Lowers CCR to 'CCC-'; Outlook Remains Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit and
senior secured ratings on Lexington, Ky.-based exploration and
production (E&P) company RAAM Global Energy Co. to 'CCC-' from
'CCC+'.  The outlook is negative.

S&P also lowered the senior secured debt rating to 'CCC-' from
'CCC+'.  The '4' recovery rating is unchanged indicating average
(30% to 50%) recovery in a default scenario.

"The downgrade reflects our assessment that RAAM Global Energy Co.
could be challenged to refinance its $250 million senior secured
notes due October 2015 due to weak market conditions stemming from
depressed hydrocarbon prices," said Standard & Poor's credit
analyst Michael Tsai.

These factors result in a liquidity assessment of "weak."  Ratings
also include S&P's assessment of RAAM's business risk profile as
"vulnerable" and financial risk profile as "highly leveraged."

The negative outlook reflects the potential that S&P might lower
the ratings if RAAM is unable to refinance or repay in full its
senior notes due Oct 01, 2015.  Given weak oil and natural gas
prices and currently unsettled capital markets for the energy
sector, S&P expects RAAM could have material difficulty refinancing
in full its $250 million senior notes due October 2015.

S&P would lower ratings if RAAM is unable to provide a strategy to
refinance the $250 million notes within the next three to four
months, which could prove difficult under current market
conditions.  In addition, if RAAM proposed a refinancing or
exchange offer for less than the current terms of the notes, S&P
would lower ratings.

S&P could raise ratings if RAAM is able to refinance the $250
million notes and improve the outlook for liquidity and operating
performance.



RADIOSHACK CORP: Cleared to Continue Sales, Tap Bankruptcy Loan
---------------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
RadioShack Corp.'s proposed bankruptcy financing cleared court as
the retailer continues the process of racing to sell out and shut
down some 1,100 stores by the end of the month.

According to the report, citing the company, up to 2,100 RadioShack
stores won't survive the Chapter 11 bankruptcy.
Going-out-of-business sales began on Feb. 6 at more than 1,700
stores across the country as RadioShack began the process of
trimming its collection of more than 4,000 outlets.

                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 (Bankr. D. Del. Case No. 15-10197) and
affiliates Atlantic Retail Ventures, Inc. (Bankr. D. Del. Case No.
15-10199), Ignition L.P. (Bankr. D. Del. Case No. 15-10200), ITC
Services, Inc. (Bankr. D. Del. Case No. 15-10201), Merchandising
Support Services, Inc. (Bankr. D. Del. Case No. 15-10202),
RadioShack Customer Service LLC (Bankr. D. Del. Case No.
15-10203),
RadioShack Global Sourcing Corporation (Bankr. D. Del. Case No.
15-10204), RadioShack Global Sourcing Limited Partnership (Bankr.
D. Del. Case No. 15-10206), RadioShack Global Sourcing, Inc.
(Bankr. D. Del. Case No. 15-10207), RS Ig Holdings Incorporated
(Bankr. D. Del. Case No. 15-10208), RSIgnite, LLC (Bankr. D. Del.
Case No. 15-10209), SCK, Inc. (Bankr. D. Del. Case No. 15-10210),
Tandy Finance Corporation (Bankr. D. Del. Case No. 15-10211),
Tandy
Holdings, Inc. (Bankr. D. Del. Case No. 15-10212), Tandy
International Corporation (Bankr. D. Del. Case No. 15-10213), TE
Electronics LP (Bankr. D. Del. Case No. 15-10214), Trade and Save
LLC (Bankr. D. Del. Case No. 15-10215), and TRS Quality, Inc.
(Bankr. D. Del. Case No. 15-10217) filed separate Chapter 11
bankruptcy petitions on Feb. 5, 2015.  The petitions were signed
by
Joseph C. Maggnacca, chief executive officer.  Judge Kevin J.
Carey
presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.
David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor.  Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate
advisor.  Prime Clerk is the Debtors' claims and noticing agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.


RADIOSHACK CORP: Section 341(a) Meeting Scheduled for March 18
--------------------------------------------------------------
A meeting of creditors in the bankruptcy case of RadioShack
Corporation has been scheduled for March 18, 2015, at 10:30 a.m.,
at the J. Caleb Boggs Federal Building, 844 N. King Street, 2nd
Floor, Room 2112, in Wilmington, Delaware.

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

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

                    About 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: Will Shut Down 1,784 Stores
--------------------------------------------
Michelle Willard at The Daily News Journal reports that RadioShack
Corporation said it will close 1,784 stores nationwide.

Chris Reber at Pocono Record relates that the closures won't
include stores that franchise-owned, including one in
Brodheadsville near Kinsley's ShopRite.

Richard K. DeAtley at The Press Enterprise states that while the
Company laid out plans to keep 1,750 of its stores open,
co-branding them with Sprint, they plan to shut down 1,784 stores.


The Company posted on its website this "potential store closure
list": http://is.gd/rahznx

                   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.


RCS CAPITAL: Moody's Continues Review of B2 Corp. Family Rating
---------------------------------------------------------------
On November 14, 2014, Moody's Investors Service placed on review
for downgrade RCS Capital Corporation's B2 corporate family rating,
as well as the B2 ratings on RCS's $575 million senior secured
first lien term loan and its $25 million senior secured first lien
revolving credit facility, and the Caa1 rating on its $150 million
senior secured second-lien term loan.

Ratings Rationale

Moody's continues to review RCS's ratings, focusing on the
following factors:
                                                                
  (1) the duration and magnitude of any adverse effects on RCS
      stemming from the loss of business from activities linked
      to American Realty Capital Properties, Inc. and other
      affiliated parties;

  (2) the RCS board's deliberations on the company's strategic
      direction; and

  (3) RCS's 2014 results.

RCS's 2014 Form 10-K, due to be filed with the SEC in March 2015,
will be an important factor in Moody's review. Moody's thus expects
to complete its review for downgrade after RCS files its Form
10-K.

RCS's ratings could be downgraded should Moody's conclude that RCS
has suffered a significant loss of franchise value and earnings
capacity. RCS's ratings could also be downgraded if the significant
decline in RCS's market capitalization in recent months results in
an increased likelihood that RCS's board will take strategic
actions that could diminish the company's creditworthiness.

RCS's ratings could be affirmed should Moody's conclude that RCS is
likely to maintain sufficient debt coverage capacity at the current
rating level and that its board is unlikely to take strategic
actions that would significantly diminish its creditworthiness.

RCS is based in New York City and reported revenue of $975 million
for the year ended December 31, 2013.

The principal methodology used in these ratings was Global
Securities Industry Methodology published in May 2013.



RESIDENTIAL CAPITAL: UBS, Others Can't Nix Mortgage Loans Suits
---------------------------------------------------------------
Law360 reported that a New York bankruptcy judge largely refused to
dismiss four lawsuits brought by the Residential Capital LLC
bankruptcy trust alleging mortgage originators including UBS Real
Estate Securities Inc. and SunTrust Mortgage Inc. sold billions of
dollars in defective loans, ruling that the trust has proper
standing.

According to the report, UBS, SunTrust and four other mortgage
lenders are accused of selling residential mortgage loans with
faulty underwriting that ResCap then packaged and resold.  The loan
originators had argued that ResCap Liquidating Trust did not have
standing, the report said.

                   About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


REVEL AC: IGT to Appeal $95.4-Mil. Sale of Assets to Polo North
---------------------------------------------------------------
Revel AC's secured creditor IGT filed a notice it will appeal a
federal judge's order that approved the sale of the company's
assets to Polo North Country Club Inc.

In court papers, IGT said it wants a district court to review if
U.S. Bankruptcy Judge Gloria Burns erred in determining that her
ruling provides "adequate protection" of its security interest in
some of Revel AC's assets.

Judge Burns on Jan. 8 approved the sale of almost all of Revel AC's
assets to Polo North for $95.4 million.

Polo North owned by real estate developer Glenn Straub was the
runner-up at the auction conducted by Revel AC last year.  However,
the winning bidder Brookfield US Holdings LLC, which made a $110
million offer, backed out of the deal.

A Brookfield representative had said in November that it wouldn't
be moving forward with the sale following refusal by ACR Energy
Partners LLC's bondholders to renegotiate debt related to ACR's
power plant that provides Revel with air conditioning, hot water
and electricity, casting doubt on its future operation.  

On Dec. 12, Judge Burns ordered the termination of Brookfield's
sale agreement with Revel AC.

Early last month, the bankruptcy judge denied the requests of IGT,
ACR Energy, Casino Reinvestment Development Authority, IDEA
Boardwalk LLC, and a group of companies led by American Cut AC Marc
Forgione LLC to put her Jan. 8 ruling on hold pending their
appeals.

                          About Revel AC

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

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

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

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

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

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

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



REVEL AC: Polo North Wants Sale Closing Date Extended
-----------------------------------------------------
Glenn Straub's Polo North Country Club asks the U.S. Bankruptcy
Court for the District of New Jersey to extend the closing date for
the purchase and sale of Revel AC, Inc.'s assets numerous
conditions to closing remain unresolved.

Counsel to Polo North, Stuart J. Moskovitz, Esq., in Freehold, New
Jersey, tells the Court that before Polo North can or should be
compelled to close, there should and must be (i) a full
adjudication of ACR Energy's, IDEA Boardwalk's and the restaurant
Amenity Tenants' possessory rights, if any, in the property; (ii) a
full adjudication on the pending motions pertaining to ACR's rights
to disconnect and shut off power to the Revel building; (iii)
receipt by Polo North of its Gaming Approvals; and (iv)
satisfaction of each of the title
conditions contained in the title commitment so that Polo North
receives clear and marketable title to the properties that are the
subject of the Polo North APA.

Mr. Moskovitz says these issues prevent the Debtor from conveying
clear and marketable title in breach of the APA.  Rather than spend
significant time and money arguing whether or not there has been a
breach, it would seem to be in everyone’s interest to avoid the
issue by granting an extension of the time to close to assure these
issues are resolved prior to closing, Mr. Moskovitz asserts.

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, pointed out that the $95.4 million sale of Revel's
casino-resort could fall apart due to recent ruling of the U.S.
Circuit Court of Appeals in Philadelphia on IDEA's appeal from the
order approving the sale to Polo North.  The Bloomberg report
recalled that IDEA, which has a lease to operate a nightclub at the
casino, relied on Section 365(h) of the
Bankruptcy Code which provides that termination of a lease doesn't
end a tenant's right to remain in possession.  Both the bankruptcy
and district courts denied a stay of the sale-approval order
pending appeal but the Third Circuit granted a stay regarding
paragraph 14 of the approval order, in substance allowing the sale
to close so long as the nightclub isn't evicted.

The Associated Press reported that Revel attorney Michael Viscount
said Revel would cancel the sale at 12:01 a.m. Feb. 10 if it has
not closed and would keep Polo North's $10 million deposit,
although the news agency said it was not immediately learned
whether the casino operators made good on the warning when midnight
came around.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and operates

Revel, a Las Vegas-style, beachfront entertainment resort and
casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

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

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

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

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

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

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


REVEL AC: Unsecured Creditors to Get $1.35M in Lender Deal
----------------------------------------------------------
William J Rochelle III, writing for Bloomberg News, reported that
secured lenders to Revel AC Inc. negotiated a settlement that gives
unsecured creditors at least $1.35 million through a Chapter 11
plan.

According to the report, the lenders agreed to the deal with the
Official Committee of Unsecured Creditors to gain final approval of
a $71 million loan from units of Wells Fargo & Co. and JPMorgan
Chase & Co. to finance the reorganization, which began in June.
Unsecured creditors dropped their opposition to the loan, opening
the door to approval of a liquidating Chapter 11 plan, Mr. Rochelle
said.

Unsecured creditors will also get 15 percent of the purchaser's
installment payments, the report said, while the banks will also
provide $150,000 from the sale to fund lawsuits to recover payments
received by creditors within 90 days of bankruptcy.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and operates

Revel, a Las Vegas-style, beachfront entertainment resort and
casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

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

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

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

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

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

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


ROCK POINTE: Wash. Developer Hit with $1-Mil. Atty Fee
------------------------------------------------------
Law360 reported that a Washington state court hit developer Prium
Companies LLC with a sanction of $1.1 million in attorneys' fees
and costs for what the judge called a "gross abuse of judicial
process" in a dispute with its former real estate partner over
ownership of a bankrupt Spokane office complex.

According to the report, the sizeable sanction was accompanied by a
$22 million default judgment against Prium, which originally sued
investment entity Spokane Rock I LLC in 2012 in an alleged attempt
to wrest control of the office complex, Rock Pointe Corporate
Center.

                         About Rock Pointe

Rock Pointe Holdings Company LLC owns the Rock Pointe Corporate
Center in Spokane, Washington.  The Company filed for Chapter 11
protection (Bankr. E.D. Wash. Case No.11-05811) on Dec. 2, 2011.
The Debtor estimated both assets and debts of between $50 million
and $100 million.  Southwell & O'Rourke, P.S., served as counsel
for the Debtor.

The U.S. Trustee appointed five unsecured creditors to serve on
the Debtor's Official Committee of Unsecured Creditors.  Kenneth
W. Gates is the counsel for the Committee.

Ford Elsaesser served as mediator for of all issues regarding the
treatment of the debt owed to DMARC.

The United States Trustee has appointed John Munding as Chapter 11
trustee in the bankruptcy case.

Bankruptcy Judge Frank L. Kurtz, in December 2014, dismissed the
Chapter 11 case of Rock Pointe Holdings, LLC.



RONALD COHEN: Judgment Creditors Win Ch.11 Case Dismissal
---------------------------------------------------------
Bankruptcy Judge Thomas J. Catliota granted the motion to dismiss
the chapter 11 case of Ronald Cohen Management Company.

Case dismissal was sought by judgment creditors Tower Oaks
Boulevard, LLC, TOB, Inc., Oak Plaza, LLC, David T. Buckingham,
Richard D. Buckingham and Susan E. Buckingham.

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

Ronald Cohen Management Company, based in Rockville, Maryland,
filed for Chapter 11 bankruptcy (Bankr. D. Md. Case No. 14-23399)
on Aug. 27, 2014.  Judge Wendelin I. Lipp presided over the case.
Stephen A. Metz, Esq., at Shulman, Rogers, Gandal, Pordy & Ecker,
P.A., served as the Debtor's counsel.  Ronald Cohen estimated under
$50,000 in assets and $1 million to $10 million in liabilities.
The petition was signed by Ronald J. Cohen, president.  A list of
the eight largest unsecured creditors is available for free at
http://bankrupt.com/misc/mdb14-23399.pdf


ROSEMAN UNIVERSITY: S&P Cuts Series 2012 Bonds Rating to 'BB-'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'BB-' from 'BB+' on the Public Finance Authority, Wis.' series 2012
bonds issued for Roseman University, located in Henderson, Nev. and
South Jordan, Utah.  The outlook is stable.

"The downgrade reflects the expected significant upcoming debt
issuance of approximately $63.8 million in the next few months, $37
million of which is new money bonds to finance Roseman's expansion
into a college of medicine," said Standard & Poor's credit analyst
Luke Gildner.  "We believe the amount of debt and the aggressive
growth strategy into a new line of business will increase the
university's already high debt burden and risk profile, while the
increase in operating expenses associated with the expansion could
compress margins in the near term."

The rating also reflects the university's current narrow
programmatic focus and the general market trends of declining
demand for pharmacy schools, extremely weak financial resource
metrics, and institutional risk-taking strategy.  Supporting the
rating is a history of strong enrollment and net tuition revenue
growth.

The stable outlook reflects S&P's expectation that over the next
year, the university will experience continued strong demand for
its programs, achieve breakeven operating performance, and
successfully integrate the Nevada Cancer Institute Foundation into
its operations.

A lower rating could be considered if Roseman is unable to meet its
financial projections leading to a further weakening of the
university's financial resources.  While unlikely during the
two-year outlook period, S&P could consider a positive rating
action if the university demonstrates sustained operating surpluses
in line with fiscal 2014 results leading to an improvement in its
financial resource ratios.

Roseman University was founded as the Nevada College of Pharmacy in
1999 in Henderson, Nev. (just outside Las Vegas) with an inaugural
class in 2001 of 38 students.  A second campus in South Jordan,
Utah (just south of Salt Lake City) opened in fall 2006. The South
Jordan campus has grown significantly due to increased enrollment
in the college of dentistry and now enrolls as many students as the
Henderson campus.  The university also has established a family
dental clinic in Utah, which has received a positive response.
Management has indicated plans to open additional clinics, which
presents an opportunity for added revenues.  The university does
not provide housing and has limited dining facilities with no plans
to add auxiliary services.



S THOMAS ANDERSON: Involuntary Bankr. Petition v. Judge Nixed
-------------------------------------------------------------
Bankruptcy Judge Marian Harrison in Nashville, Tennessee,
dismissed, with prejudice, an involuntary Chapter 11 bankruptcy
petition (Bankr. M.D. Tenn. Case No. 3:14-BK-09568) filed by an
inmate, Andrew Lee Jamison, against S. Thomas Anderson, the U.S.
District Judge who presided over the Petitioner's criminal trial in
2014.

Judge Anderson seeks dismissal of the involuntary bankruptcy
petition.  The Petitioner did not respond.

The Involuntary Bankruptcy Petition is based on allegations that
Judge Anderson was involved in and complicit in "sedition, treason,
insurrection, RICO, conspiracy, enticement into fraud, enticement
into slavery, [and] all the crimes that are listed in Title 18
U.S.C."  The body of the Petition does not state the factual basis
for such an allegation against Judge Anderson. The Petitioner's
stated complaints against Judge Anderson relate to Judge Anderson's
handling of the Petitioner's criminal case.

Judge Anderson denies that the Petitioner has any legitimate
monetary claim against him.  Therefore, Judge Harrison said, the
Petitioner's claim to be a creditor is subject to a bona fide
dispute as to liability and amount. Indeed, there is no legitimate
basis for damages and/or a claim against Judge Anderson.

Judge Harrison also noted that the Petition has not been joined and
filed by three or more entities with liquidated financial claims
against Judge Anderson, and the Petition was not filed by any
claimholder holding at least $15,325 in undisputed, non-contingent
claims.

The Petitioner's conviction or sentence has not been reversed or
otherwise invalidated, and the Petitioner's appeal of his criminal
conviction is pending in the Sixth Circuit Court of Appeals.
United States v. Jamison, No. 14-5465 (6th Cir. 2014) (undecided).

"The Court finds that this involuntary bankruptcy Petition
constitutes vexatious litigation against a federal judicial
officer. It is in fact false, frivolous, and likely filed in
retaliation for the Petitioner's criminal conviction. In addition,
the Petitioner has not paid the required filing fee in the amount
of $1717," Judge Harrison said in her February 5, 2015 Memorandum
Opinion available at http://is.gd/mekrHzfrom Leagle.com.


SABINE OIL: S&P Discontinues 'B' Corp. Credit RatingCR After Merger
-------------------------------------------------------------------
Standard & Poor's Ratings Services said that it is discontinuing
its 'B' corporate credit rating on Sabine Oil & Gas LLC.  On Dec.
16, 2014, Sabine combined with Forest Oil Corp., which has changed
its name to Sabine Oil & Gas Corp.  The discontinuation is in
accordance with Standard & Poor's policy on acquired entities.

RATINGS LIST

Rating Discontinued
                                To             From
Sabine Oil & Gas LLC
Corp credit rtg                 NR/--/--        B/Negative/--



SAMUEL WYLY: Judge Won't Revisit $175M Alternate Payout in SEC Case
-------------------------------------------------------------------
Law360 reported that a New York federal judge refused to reconsider
her December ruling setting a $175 million alternate measure of
disgorgement in the U.S. Securities and Exchange Commission's fraud
case against former Michael's Stores Inc. Chairman Sam Wyly and the
estate of his late brother Charles Wyly Jr.

According to the report, the defendants had argued that U.S.
District Judge Shira A. Scheindlin relied on flawed expert
testimony from Dr. Chyhe Becker, upon which she relied to find the
alternative disgorgement measure.  Judge Scheindlin offered the
alternative in case a higher court disagrees with her September
decision to order the brothers to disgorge nearly $188 million,
plus prejudgment interest that the SEC later calculated to be more
than $112 million, the report related.

The SEC case is SEC v. Wyly et al., case number 1:10-cv-05760, in
the U.S. District Court for the Southern District of New York.

                         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).


SEVEN COUNTIES: Reorganization Plan Confirmed
---------------------------------------------
U.S. Bankruptcy Judge Joan A. Lloyd has confirmed Seven Counties
Services Inc.'s First Amended Plan of Reorganization.

Kentucky Employees Retirement System and the Board of Trustees of
Kentucky Retirement Systems has filed an appeal to the order
confirming the Plan but the appeal was denied.

According to the Disclosure Statement, the Plan contemplates the
reorganization of existing debt and continuation of the Debtor's
normal business operations.  The primary objectives of the Plan
are to: (a) maximize the value of the ultimate recoveries to all
creditor groups on a fair and equitable basis; and (b) settle,
compromise, or otherwise dispose of certain claims and interests
on terms that the Debtor believes to be fair and reasonable and in
the best interests of the Debtor's estate and its creditors.

Upon entry of the confirmation order, the Debtor will continue to
operate its business and manage its assets, which will generate
income projected to be sufficient for the Debtor to meet its
ongoing expenses and obligations contemplated under the Plan.

A copy of the Disclosure Statement is available for free at

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

                     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.



SKYMALL LLC: Has Authority for Ch. 11 Auction Plan
--------------------------------------------------
Law360 reported that an Arizona bankruptcy judge gave the company
behind the SkyMall in-flight shopping catalog the green light for a
plan to auction itself as a going concern and approved a slew of
first-day motions to keep the firm open while it goes through the
marketing process.

According to the report, at a hearing in Phoenix, U.S. Bankruptcy
Judge Brenda K. Martin approved several motions filed by SkyMall
LLC and parent Xhibit Corp., including permission to sell their
assets.

                        About SkyMall LLC

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

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

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

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

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

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


T-L CONYERS: Order Denying MB Financial Stay Relief Affirmed
------------------------------------------------------------
District Judge Joseph S. Van Bokkelen of the District Court for the
Northern District of Indiana, Hammond Division, tossed an appeal by
MB Financial Bank NA, from the Northern District of Indiana
Bankruptcy Court's decision to deny its motion for relief from an
automatic stay in the associated Chapter 11 cases of these four
debtors:

     1. T-L Conyers, LLC,
     2. T-L Smyrna, LLC,
     3. T-L Cherokee South, LLC, and
     4. T-L Village Green, LLC

The Debtors each own a separate commercial shopping center which
serves as the only collateral for loans extended by MB Financial's
predecessor financial institution.  The Debtors all opened Chapter
11 bankruptcy cases regarding these loans, which were subject to an
automatic stay.

The bank maintains that 11 U.S.C. Sec. 362(d)(3) mandates that the
automatic stay be terminated in these cases. Section 362(d)(3)
allows a party in interest, after providing notice to the debtor,
to obtain relief from an automatic stay when the debtor's
collateral is "single asset real estate," as it is in the four
Debtors' cases.  Pursuant to Sec. 362(d)(3), the Bankruptcy Court
will grant the party in interest relief from the automatic stay if
the debtor has not "(A) filed a plan of reorganization that has a
reasonable possibility of being confirmed within a reasonable time;
or (B) . . . commenced monthly payments," within 90 days after the
entry of the order for relief.

The bank argues that the Debtors have failed to follow either of
these courses of actions, and, as a result, the Bankruptcy Court
erred by denying their motion to terminate the automatic stay.

The Debtors counter that their actions satisfied Sec. 362(d)(3).
They maintain that they filed a reorganization plan within the Sec.
362(d)(3) deadline. This reorganization plan contained a unique
provision dubbed the "deemed substantive consolidation" provision,
for which the Bankruptcy Court scheduled a hearing to review.

After the hearing, the Bankruptcy Court found that this provision
could not be included in the reorganization plan.

The Debtors appealed this ruling in each of the four Chapter 11
cases. Before any of these appeals could be heard, the Debtors
filed an amended reorganization plan that did not include the
deemed substantive consolidation provision and withdrew their
appeals.  They contend that even though this amended plan was filed
outside of the 90-day requirement in Sec. 362(d)(3), it is still
sufficient to defeat the bank's motion for relief from the
automatic stay. The Bankruptcy Court agreed with the Debtors and
denied the bank's motions for relief.

The District Court agrees with the Bankruptcy Court in its Feb. 4,
2015 Opinion and Order available at http://is.gd/xnqsoBfrom
Leagle.com.

The cases before the District Court are: MB Financial Bank NA,
Appellant, v. T-L Conyers, LLC, T-L Smyrna, LLC, T-L Cherokee
South, LLC, and T-L Village Green, LLC, Member Cases Appellees,
Civil Action Nos. 2:14-CV-407-JVB, 2:14-CV-408-JVB,
2:14-CV-409-JVB, 2:14-CV-410-JVB (N.D. Ind.).

MB Financial Bank NA, is represented by Maria A Diakoumakis --
mdiakoumakis@dykema.com -- Prisca Kim, Goldberg Kohn Ltd, Richard M
Bendix, Jr, Dykema Gossett PLLC & Ronald Barliant, Goldberg Kohn
Ltd.

                        About T-L Cherokee

T-L Conyers LLC, T-L Cherokee South, LLC, and two affiliates
sought Chapter 11 protection in Hammond, Indiana, on Feb. 1, 2013.

The Debtors are represented by David K. Welch, Esq., at Crane,
Heyman, Simon, Welch & Clar, in Chicago.

The Debtors own various shopping centers in Georgia and Kansas.

T-L Cherokee South (Bankr. N.D. Ind. Case No. 13-20283) estimated
assets and debts of $10 million to $50 million.  T-L Cherokee owns
and operates a commercial shopping center in Overland Park, Kansas
known as "Cherokee South Shopping Center".

The Debtors are entities managed by Westchester, Illinois-based
Tri-Land Properties, Inc., which sought Chapter 11 protection
(Case No. 12-22623) on July 11, 2012.


TELECOMMUNICATIONS MANAGEMENT: S&P Affirms 'B' CCR; Outlook Stable
------------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating on Sikeston, Mo.-based Telecommunications
Management LLC (d/b/a NewWave Communications).  The outlook is
stable.

S&P also affirmed its 'B+' issue-level on the company's first-lien
credit facility following the add-on.  The first-lien facilities
consist of a $25 million first-lien revolver, undrawn at completion
of the transaction, and a $254 million first-lien term loan,
inclusive of the $25 million add-on.  The recovery rating remains
'2', indicating S&P's expectation for substantial recovery
(70%-90%) in the event of a payment default.

In addition, S&P affirmed its 'CCC+' issue-level on the company's
$77.8 million second-lien term loan.  The recovery rating remains
'6', indicating S&P's expectation for negligible recovery (0%-10%)
in the event of a payment default.

"The ratings affirmation follows NewWave's proposed $25 million
add-on to its first-lien term loan," said Standard & Poor's credit
analyst Michael Altberg.

S&P expects the company will use proceeds to repay outstanding
borrowings under its revolving credit facility, which stood at
$17.5 million as of Dec. 31, 2014.  As a result, the transaction is
relatively leverage neutral, and improves the company's liquidity
position at a time when capital expenditures remain elevated due to
the completion of network upgrades in 2015. Although S&P do not
believe there are any cash liquidity risks over the next two years,
it expects headroom under the financial leverage covenant to fall
below 10% in 2015, and could remain below 10% in 2016 depending on
the level of revenue and EBITDA growth following network upgrade
completions.

The outlook is stable and reflects S&P's assumption of moderate pro
forma EBITDA growth (8%-10%) in 2015.  S&P expects free operating
cash flow to be relatively breakeven to modestly negative in 2015,
and that the company will begin to generate positive FOCF in 2016
due to a decline in capital expenditures from the completion of
network upgrades of acquired properties.

A rating downgrade, which S&P believes is unlikely over the next 12
months, could result from narrowing liquidity or the expectation of
a covenant breach.  Such a scenario would likely result from
degradation in operating performance, including declines in
subscriber levels combined with elevated capital expenditures,
leading to ongoing negative FOCF and reduced availability under the
revolving credit facility.

An upgrade would require a reassessment of either the business risk
profile or financial policy of the financial sponsors.  For the
former to occur, the company would need to increase significantly
in size, with an accompanying improvement in penetration rates that
are more on par with industry levels and EBITDA margin expansion to
the mid 30% area from the low-30% area that S&P currently expects.
For the latter to occur, the company would need to achieve leverage
of less than 5x, with a shift in financial policy that is
supportive of this lower leverage on a sustained basis.  



TNS INC: S&P Retains 'B+' CCR Following Sale of Gateway Business
----------------------------------------------------------------
Standard & Poor's Ratings Services said its 'B+' corporate credit
rating and stable outlook on data communications provider TNS Inc.
remains unchanged following the company's sale of its Gateway
Service business.  S&P revised its recovery rating on the
first-lien secured credit facility to '2' from '3', and raised the
issue-level rating on this debt to 'BB-' from 'B+'.  The '2'
recovery rating indicates S&P's expectation for substantial
recovery (70%-90%) in the event of a payment default.  TNS plans to
use the proceeds to distribute $75 million to its ownership group
and pay down $75 million in debt.  The pay-down of debt will
include a $60 million payment on the company's first-lien term loan
($604.5 million outstanding as of Dec. 31, 2014) and a $15 million
payment to its second-lien term loan ($185 million outstanding).

The 'B' issue-level rating and '5' recovery ratings on the
company's second-lien term loan are unchanged.  The '5' recovery
rating indicates S&P's expectation for modest (10-30%) recovery in
the event of payment default.

S&P expects lease-adjusted leverage to be in the mid-4x area in
2015, a slight reduction from our previous estimate due to the
pay-down in debt.  S&P's base-case assumption is for the company's
revenues to decrease 9%-10% in 2015, resulting from the sale of its
Gateway Service business and high-single-digit percent declines in
its Telecom Services business.  S&P expects that low- to
mid-single-digit growth in the Payment Services and Financial
Services businesses in 2016 will help offset losses in the Telecom
Services division and generate low-single-digit growth overall.
S&P expects reported EBITDA margins to modestly grow to the mid-30%
area from the low-30% area over the next few years.  The
improvement is due to the company's expected completion of a
multi-year plan to reduce costs, as well as increased scale in the
various segments.

RATINGS LIST

TNS Inc.
Corporate Credit Rating             B+/Stable/--

Upgraded; Recovery Rating Revised
                                     To          From
TNS Inc.
Senior Secured 1st Lien             BB-         B+
  Recovery Rating                    2           3



TOLLENAAR HOLSTEINS: Section 341(a) Meeting Set for March 12
------------------------------------------------------------
A meeting of creditors in the bankruptcy cases of Tollenaar
Holsteins, et al., will be held on March 12, 2015, at 10:00 a.m. at
Office of the UST(7-500).  Creditors have until June 10, 2015, to
submit their proofs of claim.

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

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

Tollenaar Holsteins, Friendly Pastures, LLC, and T Bar M Ranch,
LLC, filed Chapter 11 bankruptcy petitions (Bankr. E.D. Cal. Lead
Case No. 15-20840) on Feb. 4, 2015.  Tami Tollenaar signed the
petitions as general partner.  Judge Christopher D. Jaime is
assigned to the cases.  Felderstein Fitzgerald Willboughby &
Pascuzzi LLP serves as the Debtors' counsel.  The Debtors estimated
assets and liabilities of at least $10 million.


TOLLENAAR HOLSTEINS: Seeks Authority to Use Cash Collateral
-----------------------------------------------------------
Tollenaar Holsteins, et al., seek authority from the U.S.
Bankruptcy Court for the Eastern District of California, Sacramento
Division, to use cash collateral securing the Debtor's indebtedness
from feed suppliers Furst McNess Co., Alan Ritchey Inc.,
Diversified Ingredients, Rising Phoenix Farms, LLC, Frontier
Trading, Inc.

According to Jason E. Rios, Esq., at Felderstein Fitzgerald
Willoughby & Pascuzzi LLP, in Sacramento, California, the feed
suppliers are owed money by the Debtor and may assert dairy liens.
The Secured Creditors may have security interests in the cash
collateral to be used.

Mr. Rios tells the Court that the cash collateral sought to be used
constitutes the sole source of funds to operate the Debtor's
business.  Unless the Court permits immediate use of the cash
collateral, the Debtor will be unable to pay employees and
suppliers and otherwise will be unable to continue the business or
preserve the value of the estate's assets, Mr. Rios relates.

Bank of the West, which extended secured prepetition loans totaling
approximately $4,400,000, complained that it has had insufficient
time to analyze the Debtor's proposed budget and the terms for the
use of cash collateral.  The Bank says it has consented to the use
of its cash collateral in the amount of approximately $12,000 to
provide the Debtor's dairy operations with food and gasoline to
operate machinery in the interim.  If necessary, the Bank is
willing to consent to use of its cash collateral to provide
additional feed and gas to maintain the dairy herd until a
continued hearing can be held.

The Bank is represented by:

         Bruce A. Scheidt, Esq.
         Bruce A. Emard, Esq.
         KRONICK, MOSKOVITZ, TIEDEMANN & GIRARD, APC
         400 Capitol Mall, 27th Floor
         Sacramento, CA 95814
         Tel: (916) 321-4500
         Fax: (916) 321-4555
         E-mail: bscheidt@kmtg.com
                 bemard@kmtg.com

                            About Tollenaar Holsteins

Tollenaar Holsteins and its affiliates Friendly Pastures, LLC, and
T Bar M Ranch, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Cal. Case No. 15-20840) on Feb. 4,
2015 .  The case is assigned to Judge Christopher D. Jaime.  The
Debtors' counsel is Jason E. Rios, Esq., at Felderstein Fitzgerald
Willoughby & Pascuzzi LLP, in Sacramento, California.


TOLLENAAR HOLSTEINS: Seeks to Pay Employees' Wages
--------------------------------------------------
Tollenaar Holsteins, et al., seek authority from the U.S.
Bankruptcy Court for the Eastern District of California, Sacramento
Division, to pay employee obligations, employee deductions and
employee expenses, including amounts owed for services or utilities
delivered prepetition.

The Debtors believe that the amounts would be entitled to priority
claim status under the provisions of Section 507(a) of the
Bankruptcy Code or otherwise require adequate assurance under
Section 366 and that payment of the prepetition Employee
Compensation and Utilities is necessary to the continued operation
of their business.  If payments are not made, there is a
substantial risk of loss of employees or utility service that would
result in the Debtor's inability to operate its business or care
for its cows, the Debtors tell the Court.  Replacing the employees
would be difficult or impossible and would require significant
expense and loss of operations that the Debtors cannot afford to
incur, the Debtors add.

                            About Tollenaar Holsteins

Tollenaar Holsteins and its affiliates Friendly Pastures, LLC, and
T Bar M Ranch, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on Feb. 4, 2015 (Bankr. E.D. Cal. Lead Case No.
15-20840).  The case is assigned to Judge Christopher D. Jaime.
The Debtors' counsel is Jason E. Rios, Esq., at Felderstein
Fitzgerald Willoughby & Pascuzzi LLP, in Sacramento, California.




TOLLENAAR HOLSTEINS: Wants Joint Administration of Ch. 11 Cases
---------------------------------------------------------------
Tollenaar Holsteins, Friendly Pastures, LLC, and T Bar M Ranch,
LLC, ask the U.S. Bankruptcy Court for the Eastern District of
California, Sacramento Division, to issue an order directing the
joint consolidation, for procedural purposes only, of their Chapter
11 cases under Lead Case No. 15-20840.

The Debtors tell the Court that their Chapter 11 cases are related
cases in that they are affiliates as each case shares the same
direct or indirect ownership, common management, common creditors,
and are otherwise so related as to warrant being treated as
related.

                            About Tollenaar Holsteins

Tollenaar Holsteins and its affiliates Friendly Pastures, LLC, and
T Bar M Ranch, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on Feb. 4, 2015 (Bankr. E.D. Cal. Case No.
15-20840).  The case is assigned to Judge Christopher D. Jaime.
The Debtors' counsel is Jason E. Rios, Esq., at Felderstein
Fitzgerald Willoughby & Pascuzzi LLP, in Sacramento, California.


TRUMP ENTERTAINMENT: NLRB Supports Taj Mahal Workers
----------------------------------------------------
Law360 reported that the National Labor Relations Board threw
support behind the Taj Mahal casino union, telling the Third
Circuit that Trump Entertainment Resorts Inc. should not have been
allowed to ax a collective bargaining agreement in the name of its
bankruptcy.

According to the report, in a 58-page amicus brief, the labor board
said that a Delaware bankruptcy court did not have the authority to
grant Trump Entertainment's application to reject United Here Local
54's CBA and impose its alternative that trades pensions for
401(k)s and employer-provided health insurance for coverage under
the Affordable Care Act.  Echoing arguments made by the union, the
brief said that the CBA -- which expired in September -- is now
governed under the National Labor Relations Act, which mandates
that the status quo not be disturbed without good faith
negotiations, and thus is no longer subject to bankruptcy rules,
the report related.

The Unite Here Local 54 on Feb. 3 filed 27 charges of unfair labor
practices with the NLRB, accusing managers of threatening and
discriminating against workers for union activity as they fight
Trump Entertainment's axing of a collective bargaining agreement in
its Chapter 11 bankruptcy.  The union alleges in its complaints
that Trump Entertainment has unilaterally changed the work
schedules for beverage servers, bar porters and other employees,
breaking previous agreements.

                About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on Sept.
9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2014.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $286 million in principal
plus
accrued but unpaid interest of $6.6 million under a first lien
debt
issued under their 2010 bankruptcy-exit plan.  The Debtors also
have trade debt in the amount of $13.5 million.

The Official Committee of Unsecured Creditors tapped Gibbons P.C.
as its co-counsel, the Law Office of Nathan A. Schultz, P.C., as
co-counsel, and PricewaterhouseCoopers LLP as its financial
advisor.


TS EMPLOYMENT: Seeks March 2 Extension of Schedules Filing Date
---------------------------------------------------------------
TS Employment, Inc., seeks authority from the U.S. Bankruptcy Court
for the Southern District of New York to extend the time within
which it must file its schedules of assets and liabilities and
statement of financial affairs until March 2, 2015.

In support of the extension request, the Debtor's counsel, Scott S.
Markowitz, Esq., at Tarter Krinsky & Drogin LLP, in New York, says
the Debtor will not be able to file a complete set of schedules on
or before the Feb. 16, 2015, deadline, which deadline is set
pursuant to Rule 1007(b) of the Federal Rules of Bankruptcy
Procedure.

Mr. Markowitz states: "The Debtor's petition was filed on an
emergency basis after the Debtor and its only customer, Corporate
Resource Services, Inc., learned just a few days prior to the
Petition Date that there will likely be a significant tax liability
to the Internal Revenue Service.  Since this discovery took place,
the Debtor has focused its efforts on stabilizing its operations,
thereby leading to the Debtor's retention of Realization Services
Inc. and its president, Barry Kasoff, as its consultant and chief
restructuring officer.  In light of the emergent nature of the
filing and Mr. Kasoff's recent hiring, it will be impossible for
Mr. Kasoff and his team to prepare and ifle complete and verified
Schedules by Feb. 16, 2015."

                         About TS Employment

Based in New York, TS Employment Inc. is a professional employer
organization that provides payroll-related services.  Its only
customer is publicly held Corporate Resource Services, Inc., a
diversified technology, staffing, recruiting, and consulting
services firm.  TS processes payroll of up to 30,000 employees.

TS Employment sought Chapter 11 for protection (Bankr. S.D.N.Y.
Case No. 15-10243) in Manhattan on Feb. 2, 2015.  Judge Martin
Glenn is assigned to the case.

The Debtor estimated at least $100 million in assets and debt.

The Debtor tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, in New York, as counsel.  Realization Services Inc.
serves as the Debtor's consultant.


TURNER GRAIN: Panel Taps Lueken Dilks & Nicholas Wooten as Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Turner Grain
Merchandising Inc. asks the U.S. Bankruptcy Court for the Eastern
District of Arkansas for permission to retain Lyndsey D. Dilks,
Esq., of Lueken Dilks Law Firm, and Nick Wooten, Esq., of Nicholas
Wooten LLC as its co-counsel.

The firm will undertake all actions as the Committee may direct as
it relates to the investigation of the Debtor's affairs,
acquisition and distribution of assets, management and appropriate
involvement in any pending federal and state court actions or
potential claims by or against the estate, and to bring actions and
assert claims as the committee deems appropriate in order to
properly protect the interests of creditors.

Hourly rates for the attorneys and for each other person expected
to perform work and to be included in any application for
compensation:

  Professionals             Hourly Rates
  -------------             ------------
  Lyndsey Dilks, Esq.       $295
  Nick Wooten, Esq.         $295
  Paralegal Services        $105

The Committee says Mr. Wooten's normal hourly billing rate for
litigation in the bankruptcy forum is $350 per hour.  However, he
has agreed to discount his normal rate in this matter.

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

Messrs. Dilks and Wooten can be reached at:

  Lyndsey D. Dilks, Esq.
  Lueken Dilks Law Firm
  1101 w. 2d Street
  Little Rock, AK 12201
  Tel: (501) 312-0010
  Fax: (501) 312-0198
  Email: ldiks@luekendilkslaw.com

  - and -

  Nicholas Wooten, Esq.
  Nick Wooten, LLC
  1702 Catherine Court, Suite 2-D
  Auburn, AL 36830
  Tel: (334) 887-3000
  Fax: (334) 821-7720
  Email: nick@nickwooten.com

                       About Turner Grain

Turner Grain Merchandising, Inc., sought bankruptcy protection
(Bankr. E.D. Ark. Case No. 14-bk-15687) in Helena, Arkansas, on
Oct. 23, 2014.  Kevin P. Keech, the court-appointed receiver of the
Debtor, sought and obtained permission to employ Keech Law Firm,
P.A. as attorneys.  The Debtor listed $13.77 million in total
assets, and $24.84 million in total liabilities.

The U.S. Trustee for Region 13 appointed three creditors of Turner
Grain Merchandising Inc., to serve on the official committee of
unsecured creditors.


USF HOLDINGS: S&P Ups Secured Rating to B+ on Revised Deal Terms
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating on
Auburn Hills, Mich.-based injection and compression molded auto
components manufacturer USF Holdings LLC's senior secured debt
(issued by U.S. Farathane LLC) to 'B+' from 'B' and revised the
recovery rating on this debt to '2' from '3'.  The '2' recovery
rating indicates S&P's expectation for substantial (70% to 90%, at
the low end of the range) recovery for secured lenders in the event
of payment default.  The company boosted the required amortization
under the senior secured term loan to 5% from 1%, which results in
lower estimated senior secured first-lien claims in a hypothetical
default, thereby enhancing recovery prospects.

S&P's 'B' corporate credit rating and stable outlook on USF
Holdings LLC remain unchanged.

RATINGS LIST

USF Holdings LLC
Corporate credit rating      B/Stable/--

Ratings Raised
                              To          From
U.S. Farathane LLC
Senior secured               B+          B
  Recovery rating             2           3



VISION ONE MANAGEMENT: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Vision One Management Group Inc.
        6121 Rivershort Court
        North Fort Myers, FL 33917
        Tel: (239) 851-1552

Case No.: 15-01189

Chapter 11 Petition Date: February 9, 2015

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

Debtor's Counsel: Charles PT Phoenix, Esq.
                  RHODES, TUCKER, PHOENIX CHARTERED
                  2407 Periwinkle Way, Suite 6
                  Sanibel, FL 33957
                  Tel: 239-461-0101
                  Fax: 239-461-0083
                  Email: cptp@rhodestucker.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Tom Peter Hoolihan, president/owner.

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


VIVARO CORP: Ch. 11 Judge Trims $50M Leucadia Clawback Suit
-----------------------------------------------------------
Law360 reported that unsecured creditors of defunct calling card
maker Vivaro Corp. can keep chasing $27 million that Leucadia
National Corp. received in 2007 from an allegedly insolvent Vivaro
unit, a New York bankruptcy judge ruled while axing the balance of
a $50 million fraudulent transfer case.

According to the report, the creditors alleged enough facts to
sustain their attempt to claw back a pair of transfers that Vivaro
co-debtor STi Prepaid LLC made to a Leucadia subsidiary in
connection with a $121.8 million prepaid calling card business
acquisition.

                       About Vivaro Corp.

Vivaro Corp., which specializes in the sale of international
calling cards in the U.S., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 12-13810) on Sept. 5, 2012, together with six
other related companies, including Kare Distribution Inc.  The
Debtor is represented by Frederick E. Schmidt, Esq., at Hanh V.
Huynh, Esq., at Herrick, Feinstein LLP.  Garden City Group Inc. is
the claims and notice agent.

A five-member official committee of unsecured creditors has been
appointed in the case.  The Creditors Committee is represented by:

     George P. Angelich, Esq.
     George V. Utlik, Esq.
     ARENT FOX LLP
     1675 Broadway
     New York, NY 10019
     Tel: (212) 484-3900

The Debtors' CRO is represented by:

     Phil Gund, Esq.
     MAROTTA GUND BUDD & DZERA, LLC
     The Lincoln Building
     60 E. 42 Street, 50th Floor
     New York, NY 10165
     Tel: (212) 818-1555

By Order dated January 31, 2013, the Court approved the sale of
substantially all of the Debtors' assets to Next Angel, LLC, n/k/a
Angel Americas, LLC.  The sale closed on February 8, 2013 and
divested the Debtors' Estates of their prepetition businesses.


WASHINGTON MUTUAL: Trust Defeats Challenge to Ch. 11 Warrant Deal
-----------------------------------------------------------------
Law360 reported that a Delaware federal judge tossed a individual
challenge to Washington Mutual Inc.'s settlement with a class of
investors in the defunct bank's litigation tracking warrants,
finding the appeal failed to properly address the deal.

According to the report, U.S. District Judge Gregory M. Sleet
dismissed the appeal of warrant holder Benjamin Bush, ruling that
the investor had no grounds to contest the agreement because he
appealed a previous decision of the bankruptcy court regarding
warrants but never appealed the settlement itself.

                   About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington   
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by
U.S. government regulators.  The next day, WaMu and its affiliate,
WMI Investment Corp., filed separate petitions for Chapter 11
relief (Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu
owns 100% of the equity in WMI Investment.


WET SEAL: Executes Debtor-in-Possession Financial Agreement
-----------------------------------------------------------
B. Riley Financial, Inc. on Feb. 9 disclosed that it has executed a
debtor in possession financing arrangement (DIP) and plan
sponsorship agreement (PSA) for The Wet Seal, Inc.  Both the DIP
financing and PSA, which form the basis for The Wet Seal's chapter
11 reorganization, will be handled by B. Riley Financial, Inc. and
its subsidiaries, B. Riley & Co., LLC, and Great American Group,
LLC and its affiliates and designees.

"This engagement with The Wet Seal is an example of what we
envisioned when B. Riley & Co. and Great American Group combined
last year.  We are now able to structure financing solutions that
draw from the expertise and financial resources housed in our
investment banking group, B. Riley & Co. LLC, as well as our asset
valuation and disposition services at the Great American Group,"
said Bryant Riley, Chairman of B. Riley Financial.

"Utilizing a collaborative approach, we have engaged our various
service groups to provide a financial recovery path for The Wet
Seal that we believe will restore its iconic name in fashion
retailing and benefit all parties involved," he concluded.

On January 15, 2015, The Wet Seal, headquartered in Foothill Ranch,
California, filed voluntary petitions for relief under Chapter 11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the District of Delaware.  On January 20,
2015, the Bankruptcy Court approved The Wet Seal's request to
continue to operate in the ordinary course of business, including
interim approval of the financing arranged by B. Riley Financial.  
    

B. Riley Financial, Inc. is providing the financing in order to
assist in The Wet Seal's efforts to reorganize.  The DIP financing
provides for a $20 million term loan facility, subject to certain
limitations and conditions, including a $5 million availability
block at closing from B. Riley Financial, Inc. to be funded on an
interim and final basis.  This loan facility will provide
availability to fund The Wet Seal's operations during the Chapter
11 cases, including its obligations to vendors and other purveyors
of goods and services.  The financing remains subject to final
Bankruptcy Court approval and the satisfaction of specified closing
conditions.   

The PSA provides a comprehensive blueprint for The Wet Seal's
emergence from Chapter 11 as a going concern pursuant to a plan of
reorganization under which B. Riley Financial, Inc. has agreed to
provide funding and will receive a majority of the stock in the
reorganized company at emergence.  On February 5, the Bankruptcy
Court authorized Wet Seal to assume the PSA, subject to certain
modifications, including the opportunity for the company to explore
alternative transactions; the plan of reorganization, which is not
yet filed, remains subject to Bankruptcy Court approval.

                  About B. Riley Financial Inc.

B. Riley Financial, Inc. -- http://www.brileyfin.com-- provides
collaborative financial services and solutions through several
subsidiaries, including: B. Riley & Co. LLC, an investment bank
which provides corporate finance, research, and sales & trading to
corporate, institutional and high net worth individual clients;
Great American Group, LLC a provider of advisory and valuation
services, asset disposition and auction solutions, and commercial
lending services; and B. Riley Asset Management, LLC, a provider of
investment products to institutional and high net worth investors.

B. Riley Financial, Inc. is headquartered in Los Angeles with
offices in major financial markets throughout the United States and
Europe.  

                        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.


WET SEAL: Scores Improved DIP with $5M Added to $20MM Loan
----------------------------------------------------------
Law360 reported that bankrupt women's apparel retailer The Wet Seal
Inc. said that its newly minted creditors committee was able to
secure $5 million more in debtor-in-possession financing under
better terms from the same lender and that the debtor would be open
to a Section 363 sale of its assets.

According to the report, in a filing before the Delaware bankruptcy
court, Wet Seal said that proposed DIP lender B. Riley Financial
Inc. is now willing to lend $25 million, with 2-percent better
rates for both default and nondefault interest.

The Debtors were given interim authority to obtain (i) from B.
Riley up to $1 million; and (ii) from BofA, as DIP L/C Issuer up
to
$18.3 million.

B. Riley serves as DIP Lender under the Senior Secured,
Super-Priority Debtor-in-Possession Credit Agreement, dated as of
Jan. 15, 2015.  The DIP Financing Agreement provides for a senior
secured, super-priority credit facility of up to $20.0 million on
the closing date of the DIP Financing, and the availability of
which is reduced by an $5.0 million availability block, which
Availability Block is subject to reduction at the sole discretion
of the Lender.

BofA is the L/C Issuer under the Senior Secured, Super-Priority
Debtor-in-Possession Letter of Credit Agreement, dated as of
Jan. 15, 2015.  The DIP L/C Agreement provides for a senior
secured, super-priority debtor-in-possession letter of credit
facility of up to approximately $18.3 million on the closing date
of the DIP LC Financing.

                          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.


WOLF MOUNTAIN: Must Defend Bankruptcy Case From Dismissal
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Utah ordered Wolf
Mountain Products LLC to show cause why its Chapter 11 case should
not be dismissed or converted to a case under Chapter 7 of the
Bankruptcy Code.  Wolf Mountain's response to the Order to Show
Cause must filed no later than Feb. 23, 2015.

If no response is timely filed, and given the apparent assets
available for administration, the Court will enter an order
converting the case to chapter 7 as being "in the best interests of
creditors and the estate".  Otherwise, a hearing on will be held on
March 3, 2015 at 2:30 p.m.

                   About Wolf Mountain Products

Wolf Mountain Products' business consists of harvesting buried wood
and bark fines from property it owns in Panguitch, Utah and in
Lindon, Utah, and from leased property in Fredonia, Arizona and
thereafter selling its products to its customers.

Wolf Mountain Products, L.L.C., filed a Chapter 11 petition (Bankr.
D. Utah Case No. 13-33869) in Salt Lake City on Dec. 12, 2013.
Bryce J. Burns signed the petition as manager.

The Orem, Utah-based company disclosed $40,666,583 in assets and
$5,627,349 in liabilities as of the Petition Date.  Anna W. Drake,
Esq., at the law firm of Anna W. Drake, P.C., in Salt Lake City,
serves as the Debtor's counsel.  Judge Joel T. Marker presides over
the case.

The U.S. Trustee for Region 19 has selected three creditors to the
Official Committee of Unsecured Creditors for the case of the
Debtor.


XG TECHNOLOGY: Receives Nasdaq Listing Non-Compliance Notice
------------------------------------------------------------
xG Technology, Inc., on Feb. 9, 2015, received a letter from the
Nasdaq Listings Qualifications department of the Nasdaq Capital
Market notifying the Company that the minimum bid price per share
for its common stock was below $1.00 for a period of thirty (30)
consecutive business days and that the Company did not meet the
minimum bid price requirement set forth in Nasdaq Listing Rule
5550(a)(2).

The Company has a compliance period of 180 calendar days, or until
Aug. 10, 2015, to regain compliance with Nasdaq's minimum bid price
requirement.  If at any time during the 180-day compliance period,
the closing bid price per share of the Company's common stock is at
least $1.00 for a minimum of 10 consecutive business days, Nasdaq
will provide the Company a written confirmation of compliance and
the matter will be closed.  In the event the Company does not
regain compliance with Rule 5550(a)(2) within this compliance
period, it may be eligible for additional time.  To qualify, the
Company will be required to meet the continued listing requirement
for market value of publicly held shares and all other initial
listing standards, with the exception of the minimum bid price
requirement, and will need to provide written notice of its
intention to cure the deficiency during the second compliance
period by effecting a reverse stock split, if necessary.  If the
Nasdaq staff concludes that the Company will not be able to cure
the deficiency, or if the Company determines not to submit the
required materials or make the required representations, the
Company's common stock will be subject to delisting by Nasdaq.

xG Technology is a developer of patented wireless communications
and spectrum sharing technologies.


YARWAY CORP: Judge Extends Deadline to Remove Lawsuits
------------------------------------------------------
U.S. Bankruptcy Judge Brendan Shannon extended the deadline for
Yarway Corp. to file notices of removal of lawsuits through the
effective date of its Chapter 11 plan of reorganization.

                   About Yarway Corporation

Yarway Corporation sought Chapter 11 protection (Bankr. D. Del.
Case No. 13-11025) on April 22, 2013, to deal with claims arising
from asbestos containing products it allegedly sold as early as the
1920s.

Yarway was founded in 1908 by Robert Yarnall and Bernard Waring as
the Simplex Engineering Company and originally manufactured pipe
clamps, steam traps, valves and controls.  Based in Pennsylvania,
Yarway was a privately-owned company until 1986 when KeyStone
International, Inc. bought equity in the company.  Yarway became a
unit of Tyco International Ltd. when Tyco purchased KeyStone in
1997.

Yarway's asbestos-related liabilities derive from Yarway's (i)
purported use of asbestos-containing gaskets and packing,
manufactured by others, in its production of steam valves and traps
from the 1920s to 1970s, and (ii) alleged manufacture of expansion
joint packing that was allegedly made up of a compound of Teflon
and asbestos from the 1940s to the 1970s.

Over the past five years, about 10,021 new asbestos claims have
been asserted against Yarway, including 1,014 in Yarway's 2013
fiscal year ending March 31, 2013.

The Debtor estimated assets and debts in excess of $100 million as
of the Chapter 11 filing.

Attorneys at Cole, Schotz P.C. and Sidley Austin LLP serve as the
Debtor's counsel in the Chapter 11 case.  Logan and Co. is the
claims and notice agent.

On May 6, 2013, the U.S. Trustee for Region 3, appointed an
official committee of asbestos personal injury claimants.  The
Committee tapped Elihu Inselbuch, Esq. at Caplin & Drysdale,
Chartered, as lead bankruptcy counsel.


YMCA MILWAUKEE: Sells Headquarters to Kendall Breunig
-----------------------------------------------------
Erica Breunlin at Biztimes.com reports that the YMCA of
Metropolitan Milwaukee has emerged from Chapter 11 bankruptcy and
sold its downtown headquarters to developer and Sunset Investors
principal Kendall Breunig for an undisclosed price.  The sale
closed during the first week of February, the report says.

As reported by the Troubled Company Reporter on Feb. 2, 2015, the
Company disclosed that the United States Bankruptcy Court for the
Eastern District of Wisconsin has confirmed the Company's plan of
reorganization.  The Plan received the full consensual support from
all of the organization's major creditors.  The confirmation
effectively clears the way for the Company to emerge from Chapter
11 immediately.

Biztimes.com relates that through an arrangement with Mr. Breunig,
the Company will continue to lease the space it has occupied.  The
report says that the Company has established a three-year lease
with Mr. Breunig but will have additional options.

The Company, according to Biztimes.com, said that sale proceeds
will be used to repay creditors in line with its restructuring
plan.  Biztimes.com reports that the Company will start looking for
a new space to house its downtown programming and will vacate its
leased space upon the move.  

                      About YMCA Milwaukee

The Young Men's Christian Association of Metropolitan Milwaukee,
Inc., and affiliate, YMCA Youth Leadership Academy, Inc., filed
voluntary Chapter 11 bankruptcy petitions (Bankr. E.D. Wis. Case
Nos. 14-27174 and 14-27175) in Milwaukee, on June 4, 2014.

YMCA Milwaukee, which has more than 100,000 members using its
centers and camps, plans to sell a majority of its owned real
estate to help pay down $29 million in debt.

YMCA Milwaukee estimated $10 million to $50 million in both assets
and liabilities.  YMCA Academy estimated $100,000 to $500,000 in
both assets and liabilities.  The formal schedules of assets and
liabilities are due June 18, 2014.

The cases are assigned to Judge Susan V. Kelley.

The Debtors have tapped Olivier H. Reiher, Esq., and Mark L. Metz,
Esq., at Leverson & Metz, S.C., in Milwaukee, as counsel.  The
Debtors have engaged Ernst & Young LLP as their financial advisors,
and Reputation Partners, L.L.C. as their public relations advisors.
The Debtors have also tapped Fox, O'Neill & Shannon, S.C. as their
special counsel for real estate matters.

On June 30, 2014, the Official Committee of Unsecured Creditors won
approval to retain Goldstein & McClintock LLLP as its counsel,
provided that the G&M attorney who had represented the BMO
participant may not participate in representation of the Committee.
The Committee also won approval to hire Navera Group, LLC as
financial advisors.


[*] $195M Attys' Fees OK'd in LBO Collusion Settlement
------------------------------------------------------
Law360 reported that a Massachusetts federal judge approved nearly
$200 million in attorneys' fees tied to $590 million in settlements
in a class action claiming Goldman Sachs Group Inc., Carlyle Group
LP and several other private equity firms teamed up to keep
leveraged buyout prices low.

According to the report, citing a brief electronic order, U.S.
District Judge William G. Young granted plaintiffs' motion for an
award of $194.9 million attorneys' fees and $12 million in
litigation expenses.



[*] AlixPartners Announces Managing Director Promotions
-------------------------------------------------------
AlixPartners has announced managing director promotions.  The firm
promoted these individuals:

Andrew Bergbaum
Enterprise Improvement, London

John Bonno
Enterprise Improvement, Detroit

Giacomo Cantu
Enterprise Improvement, Chicago

Gaurav Chhabra
Enterprise Improvement, Boston

Thomas Clarke
Enterprise Improvement, New York

Jonathan Greenway
Enterprise Improvement, San Francisco

Koichi Kawaguchi
Enterprise Improvement, Tokyo

Michele Mauri
Enterprise Improvement, Milan

Renaud Montupet
Turnaround & Restructuring Services, Paris

Deborah Rieger-Paganis
Turnaround & Restructuring Services, New York

Thomas Studebaker
Turnaround & Restructuring Services, New York

Michael Wabnitz
Financial Advisory Services, Munich

Richard Wallace
Information Management Services, Chicago

David Wireman
Enterprise Improvement, Dallas

                        About AlixPartners

AlixPartners is a global business advisory firm of results-oriented
professionals who specialize in creating value and restoring
performance at every stage of the business life cycle.



[*] Asbestos Attys Face Off At Hearing Over Claims Transparency
---------------------------------------------------------------
Law360 reported that a K&L Gates LLP partner told House lawmakers
that his experience defending Crane Co. and others shows the
Republican-backed measure to increase transparency in asbestos
bankruptcy trust claims is warranted, while a Caplin & Drysdale
Chtd. plaintiffs expert sided with House Democrats' denouncing the
bill as a defense-side intimidation tactic to limit liability.

According to the report, K&L Gates partner Nicholas Vari testified
in favor of the recently revived asbestos transparency bill to a
House panel considering the measure, arguing that its requirement
for more disclosure from asbestos trusts.

Mr. Vari may be reached at:

         Nicholas Vari, Esq.
         K&L GATES LLP
         K&L Gates Center
         210 Sixth Avenue
         Pittsburgh, PA 15222-2613
         E-mail: nick.vari@klgates.com


[*] MSRB Says Bank Loan Secrecy Harms Bondholders
-------------------------------------------------
Law360 reported that the Municipal Securities Rulemaking Board
criticized the failure of many issuers in the $3.6 trillion
municipal debt market to disclose their use of bank financing that
can depress credit profiles and subordinate existing bondholders.

According to the report, in a strongly worded advisory note, the
MSRB called for state and local governments to divulge when they
take out increasingly popular bank loans so that the market can
accurately assess the potential credit or liquidity implications.


[*] Ocwen Rejects Hedge Funds' Bond Default Claims
--------------------------------------------------
Law360 reported that Ocwen Financial Corp.'s legal team fought back
against "wildly false" accusations from hedge funds that took the
unusual step of publicly calling defaults on $9 billion in bonds
they say have suffered from the embattled mortgage giant's faulty
loan servicing.

According to the report, BlackRock Inc., Pacific Investment
Management Co. LLC and other asset managers made "baseless
allegations" with an inflammatory and misleading letter claiming
contractual breaches of mortgage-linked securities investments,
Ocwen's lawyer Richard Jacobsen of Orrick Herrington & Sutcliffe
LLP wrote in a counter-punch released online.


[*] SSG Capital Advisors Launches Energy Group
----------------------------------------------
Long established in the energy industry with a history of
successful transactions, SSG Capital Advisors has formed a new
group dedicated to advising middle market companies in this sector.
This expanded, highly focused group will further support companies
facing instability and financial challenges, and will offer
strategic advisory services to help businesses identify new
opportunities and generate value.

"In perhaps one of the most challenging business climates this
industry has experienced in recent years, energy companies are
confronted with liquidity and cash flow constraints, falling asset
values and an imbalance of supply and demand in the energy value
chain," said Mark E. Chesen, SSG Managing Director.  "SSG's Energy
Group will focus on maximizing value for businesses as they
navigate these challenges."

In addition, SSG has formed a strategic alliance with Chiron
Financial Group, Inc., a Houston-based investment bank with a long
history of delivering services to the energy market.  Chiron brings
an industry leading oil and gas financial team, as well as a track
record of working alongside engineers, geologists and geophysicists
to understand and address business/financial issues.

"I'm excited to partner with SSG to broaden our reach and further
assist the continuum of companies in the energy sector," said Jay
Krasoff, Chiron Managing Director.  "This strategic alliance offers
a unique combination of expertise that will add significant value
to our clients as they address unstable market conditions and
sector volatility."

From exploration through production and distribution, SSG and
Chiron have completed deals in all energy sectors including oil and
gas, coal, nuclear, wind, solar and biofuel, and have experience
with energy services and equipment companies as well. They bring
senior-level expertise and insightful, strategic thinking to each
engagement.

                 About SSG Capital Advisors

SSG Capital Advisors is an independent boutique investment bank
that assists middle-market companies and their stakeholders in
completing special situation transactions.  It provides its clients
with comprehensive investment banking services in the areas of
mergers and acquisitions, private placements, financial
restructurings, valuations, litigation and strategic advisory.  SSG
has a proven track record of closing over 250 transactions in North
America and Europe and is one of the leaders in the industry.


                            *********

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 ***