TCR_Public/150212.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, February 12, 2015, Vol. 19, No. 43

                            Headlines

ACADEMIA CESAR: S&P Assigns 'BB+' Rating on $11.8MM Bonds
BANK OF THE CAROLINAS: TFO USA Reports 9.7% Stake as of Dec. 31
BLACKHAWK AUTOMOTIVE: Court Dismisses Chapter 11 Case
BREF HR: Amended 2013 Report Shows $106M Loss
CACHE INC: Has Interim Authority to Tap $9.53MM Salus DIP Loan

CAESARS ENTERTAINMENT: 9-Member Creditors' Committee Formed
CAESARS ENTERTAINMENT: Schwartz Withdraws as CEC Counsel
CENTRAL FEDERAL: MacNealy Hoover Held 8% Stake as of Feb. 3
CLINE MINING: US Court Recognizes Plan of Compromise
CONSILIUM COMPANY: Case Summary & 20 Largest Unsecured Creditors

COVERIS HOLDINGS: S&P Retains 'B-' CCR Over $85MM Notes Add-On
DENDREON CORP: Cancels Asset Auction; Sale Hearing Set for Feb. 20
DENDREON CORP: Files Schedules of Assets and Liabilities
DENDREON: Creditors Have Until March 16 to File Proofs of Claim
DMRB PROPERTIES: Case Summary & 5 Largest Unsecured Creditors

DUNE ENERGY: Eos Petro Extends Tender Offer Until Feb. 13
EMPIRE RESORTS: Kien Huat Reports 67% Stake as of Feb. 6
EMPIRE RESORTS: Reports Closing of Rights Offering
ENERGY FUTURE: Texas Bill Could Open Unit's Assets to Others
FALCON STEEL: Committee Has Additional Work for Deloitte

HEALING HANDS: Case Summary & 20 Largest Unsecured Creditors
HEALOGICS INC: S&P Affirms 'B' CCR; Outlook Remains Negative
HOPE ACADEMY: Fitch Lowers Rating on $8.68MM Bonds to 'BB-'
IDERA PHARMACEUTICALS: Plans to Sell $75 Million Common Shares
INSTITUTO MEDICO: Renews Bid to Hire Robert Roth

JAMES RIVER: Committee Restructures Blacktone's Compensation
JBJ PIPE & SUPPLY: Case Summary & 20 Largest Unsecured Creditors
LDR INDUSTRIES: To Auction Operating Assets on February 24
METEOR ENTERTAINMENT: TriplePoint to Auction All Assets on Feb. 21
NATURAL MOLECULAR: Chapter 11 Trustee May Sell Roche Equipment

NEOGENIX ONCOLOGY: Law Firms Using Barred Defense, Court Told
NPS PHARMACEUTICALS: Faces 5 Add'l Suits Over Proposed Merger
OFFSHORE DRILLING: S&P Affirms 'BB' CCR & Revises Outlook to Neg.
ONE SOURCE: Files Schedules of Assets and Liabilities
PANDA TEMPLE: S&P Assigns Preliminary 'B' Rating on $405MM Debt

PAUL BILZERIAN: Claims Bar Date Set for March 26
PERFORMANCE TRANSPORTATION: Trucking Cos. Fight Certification Bid
PHILADELPHIA SCHOOL: Fitch Rates Series 2015 Bonds 'BB-'
PLACENTIA, CA: S&P Lowers Rating on 2003 COPs to 'BB'
PROFESSIONAL AVIATION: Claims Bar Date Set for July 31

PROGRESSIVE LIFE: Case Summary & 9 Largest Unsecured Creditors
PROMMIS HOLDINGS: Huron Replies to Motion to Reinstate Chapter 11
PROSPECT MANUFACTURING: Case Summary & 20 Top Unsecured Creditors
QE2 ACQUISITION: Receives Default Notice From Senior Lender
QUALITY DISTRIBUTION: Expects $243 Million in Revenue for Q4

QUANTUM FUEL: Expects $12MM to $13MM Fourth Quarter Revenues
RESIDENTIAL CAPITAL: Mayer Brown DQ'd from Representing HSBC
REVEL AC: Judge Denies Extension of Sale Closing Date
SBRS INC: Case Summary & 3 Largest Unsecured Creditors
SEAQUEST CORP: Execs Charged in C$75MM Bankruptcy Fraud

SIRIUS INTERNATIONAL: Fitch Affirms 'BB+' Rating on $250MM Shares
SOUTHGOBI RESOURCES: Insolvency Risk After Tax Evasion Verdict
SRC COMPUTERS: Freeman Capital to Auction Assets on February 13
SUBURBAN PROPANE: S&P Rates New $250MM Sr. Unsecured Notes 'BB-'
TARGET CANADA: Agency Deal With Gordon Brothers et al. Okayed

TARGET CANADA: Employees Seek Representation
TARGET CANADA: Licensing Deal With Starbucks Terminated
TARGET CANADA: PFAC Seeks Representative for Pharmacists
UNIVISION COMMUNICATIONS: S&P Rates New Sr. Secured Notes 'B+
US CAPITAL: Duane Morris Partner Suspended by Fla. Bankruptcy Judge

VYSHNAVI INFOTECH: Case Summary & 20 Largest Unsecured Creditors
WYNN LAS VEGAS: Fitch $1.75-Bil. Sr. Unsecured Notes 'BB'
WYNN RESORTS: S&P Affirms BB+ Corporate Credit Rating
YOSEN GROUP: Late Filed 2013 Report Shows $3.63M Loss
YRC WORLDWIDE: Presented at Stifel Nicolaus & BB&T Conferences

[*] Huron Business Advisory Announces Managing Director Promotions
[*] Silfen to Head Arent Fox's N.Y. Office as Managing Partner
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

ACADEMIA CESAR: S&P Assigns 'BB+' Rating on $11.8MM Bonds
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' rating to
Saint Paul Housing and Redevelopment Authority, Minn.'s $11.8
million series 2015A and series 2015B charter school lease revenue
bonds issued for Academia Cesar Chavez Academy (ACC).  The outlook
is stable.

"The rating reflects our assessment of ACC's niche as a language
immersion program, solid balance sheet metrics characterized by
strong liquidity, and experienced management team," said Standard &
Poor's credit analyst Luke Gildner.  "Factors restraining the
rating are slim pro forma maximum annual debt service coverage, a
high debt burden, and lack of a meaningful waitlist."

Management plans to use the proceeds of the bonds to acquire the
building the school currently occupies as well as fund construction
of an additional on-campus facility to increase the school's
capacity.  Proceeds will also be used to fund several renovations
to the existing facility, fund a debt service reserve fund, and pay
costs associated with the issuance of the series 2015 bonds.

The stable outlook reflects S&P's expectation that during the next
year management will meet enrollment and financial projections.
S&P expects operations for fiscal 2015 will break even on a full
accrual basis and liquidity will remain stable.  S&P do not expect
to take a positive rating action during the one-year outlook
period.  S&P could lower the rating if enrollment does not increase
as projected or operations significantly weaken.



BANK OF THE CAROLINAS: TFO USA Reports 9.7% Stake as of Dec. 31
---------------------------------------------------------------
TFO USA Limited disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Dec. 31, 2014, it
beneficially owned 44,831,488 shares of common stock of the
Bank of the Carolinas Corporation representing 9.7 percent of the
shares outstanding.  A copy of the Schedule 13G, as amended, is
available for free at http://is.gd/ZAWYC1

                     About Bank of the Carolinas

Mocksville, North Carolina-based Bank of the Carolinas Corporation
was formed in 2006 to serve as a holding company for Bank of the
Carolinas.  The Bank's primary market area is in the Piedmont
region of North Carolina.

Turlington and Company, LLP, in Lexington, North Carolina, issued
a "going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has suffered recurring credit
losses that have eroded certain regulatory capital ratios.  As of
Dec. 31, 2013, the Company is considered undercapitalized based on
their regulatory capital level.  This raises substantial doubt
about the Company's ability to continue as a going concern.

The Company reported a net loss available to common stockholders
of $2.33 million in 2013, a net loss available to common
stockholders of $5.53 million in 2012 and a net loss available to
common stockholders of $29.18 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $396
million in total assets, $350.08 million in total liabilities and
$46.2 million in total stockholders' equity.


BLACKHAWK AUTOMOTIVE: Court Dismisses Chapter 11 Case
-----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio
dismissed the Chapter 11 case of Blackhawk Automotive Plastics Inc.
et al.

The Court approved the Debtors' final account respecting their
final pro rata claims distribution.  Furthermore, all unclaimed
holders were notified that a stop-payment order was issued on all
unclaimed holders' checks and all unclaimed funds are deposited
with the clerk of the Court.  Unclaimed holders may contact:

   The Office of the Clerk
   U.S. Bankruptcy Court
   10 East Commerce Street
   Youngstown, OH 44503-1621

                     About Blawkhawk Automotive

Salem, Ohio-based Blackhawk Automotive Plastics Inc., formerly
Warren Molded/Custom Plastics, manufactures injection molded
plastic products and motor vehicle parts and accessories.  BAP's
customers include General Motors, Delphi, Lear, Chrysler, Honda,
Navistar, and Visteon.  BAP employs about 1,574 workers
domestically, and generated $136 million in sales in 2006.

BAP owns Canadian subsidiary, Blackhawk Automotive Plastics Ltd.
which operated a manufacturing facility in Ontario until Johnson
Controls Inc. bought BAP Canada's assets in May 2005.  BAP
Canada's remaining assets consist primarily of net operating loss
carryforwards for Canadian tax purposes.  The NOLs had a book
value of about $8.2 million as of December 2005.  BAP also owns a
plant in Upper Sandusky, Ohio, which ceased operations in 2006.

The company filed for chapter 11 protection on Oct. 22, 2007
(Bankr. N.D. Ohio, Case No. 07-42671).  Its parent company, Tier e
Automotive Group Inc., filed a separate chapter 11 petition on the
same day (Bankr. N.D. Ohio, Case No. 07-42673).

Tier e acquired BAP from Worthington Industries Inc. in 1999.
Tier e also owns 49% stake in Nescor Holdings Inc., a holding
company for Nescor Plastics Corporation, also an automotive
plastics supplier.

William I. Kohn, Esq., David M. Neumann, Esq., Stuart A. Laven,
Jr., Esq., at Benesch, Friedlander, Coplan & Aronoff LLP,
represent the Debtors in their restructuring efforts.  Donlin
Recano & Company Inc. provides the Debtors with claims, noticing,
balloting and distribution services.  The Debtors' schedules
disclosed total assets of $58,665,229 and total liabilities of
$51,244,592.  As of bankruptcy filing, BAP's aggregate debt to its
senior facility lenders was about $33 million.


BREF HR: Amended 2013 Report Shows $106M Loss
---------------------------------------------
BREF HR, LLC, filed with the U.S. Securities and Exchange
Commission in early February an amendment to its annual report on
Form 10-K for the year ended Dec. 31, 2013.  A copy of the amended
filing is available at http://is.gd/Y4nHvE

The Company incurred a loss of $105.5 million for the year ended
Dec. 31, 2013, and has a net members' deficit of $200.6 million as
of Dec. 31, 2013.  

"The Amended Facility allows the Company to accrue 'payable in
kind' interest ("PIK interest"), representing the difference
between interest accruing under the Amended Facility and the
amounts paid.  The outstanding PIK interest as of Dec. 31, 2013 and
2012, was $39.8 million and $18.5 million, respectively.  The PIK
interest outstanding as of March 1, 2014 in the amount of $44.3
million became due and payable on March 3, 2014, as the operating
performance of the Company did not meet a specified debt yield
threshold for the twelve month period ending March 1, 2014.
However, the lender entered into a Forbearance Agreement effective
as of March 1, 2014, pursuant to which it agreed not to exercise
any rights or remedies with respect to the PIK interest until June
2, 2014.  Currently, the Company does  not have sufficient funds to
satisfy a demand for the PIK interest payment on June 2, 2014.  The
Company is currently assessing its options to satisfy the PIK
interest payment obligation, including, but not limited to,
negotiating a waiver of this requirement from the lender, selling
off a portion of existing collateral or attempting to obtain
borrowings from other sources.  The Company's ability to continue
as a going concern is dependent upon its ability to restructure its
indebtedness, obtain alternative financing on acceptable terms,
obtain approval from the lender to use available cash reserves to
satisfy a portion of this potential obligation, or a combination
thereof.  However, there is no certainty on the outcome. We have
placed mortgages on our hotel casino property to secure our
indebtedness. In the event the PIK interest is not paid on June 2,
2014, among other lesser remedies, the lender may declare all
unpaid principal and accrued interest under the Amended Facility
due and payable immediately.  If the PIK payment is not made on
June 2, 2014 we risk losing some or all of our property to
foreclosure. If this occurs, our business and results of operations
would be materially adversely affected.  These uncertainties raise
substantial doubt about the Company's ability to continue as a
going concern," according to the regulatory filing.

The Company reported a net loss of $105.5 million on $195 million
of net revenues for the year ended Dec. 31, 2013, compared with a
net loss of $116 million on $199 million of net revenues in 2012.

The Company's balance sheet at Dec. 31, 2013, showed $604.2 million
in total assets, $804.8 million in total liabilities and a
stockholders' deficit of $200.6 million.

BREF HR owns and operates Hard Rock Hotel & Casino Las Vegas.  The
Company, which was formed by certain affiliates of Brookfield
Financial, LLC to acquire the entities which indirectly and
previously owned the Hard Rock Hotel & Casino Las Vegas, is based
in New York.

The Company reported a net loss of $28.4 million on $50.2 million
of net revenues for the three months ended Sept. 30, 2014, compared
with a net loss of $29.09 million on $47.3 million of net revenues
for the same period during the prior year.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $72.8 million on $157 million of net revenues compared
with a net loss of $76.6 million on $152 million of net revenues
for the same period a year ago.

The Company's balance sheet at Sept. 30, 2014, showed $591 million
in total assets, $865 million in total liabilities, and a
$273 million total member's deficit.



CACHE INC: Has Interim Authority to Tap $9.53MM Salus DIP Loan
--------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware gave Cache, Inc., et al., interim authority to obtain
postpetition financing up to an aggregate principal amount of $9.53
million from Salus Capital Partners, LLC, as administrative agent
and collateral agent.

The Debtors are also given interim authority to use cash collateral
securing their prepetition indebtedness.  As of the Petition Date,
the aggregate outstanding principal amount owed by the Debtors
under their prepetition agreement with Salus was not less than
$16.43 million.

The final hearing to consider final approval of the DIP Facility is
scheduled for Feb. 23, 2015, at 12:30 p.m. (ET).  Objections, if
any, must be submitted on or before Feb. 18.

A full-text copy of the Interim Order with Budget is available at
http://bankrupt.com/misc/CACHEdipord0205.pdf

The DIP Agent and Prepetition Agent is represented by:

         John F. Ventola, Esq.
         CHOATE, HALL & STEWART LLP
         Two International Place
         Boston, MA  02110
         Tel: (617) 248-5085
         Fax: (617) 248-4000
         Email: jventola@choate.com

            -- and --

         Derek C. Abbott, Esq.
         MORRIS, NICHOLAS, ARSHT & TUNNELL LLP
         1201 North Market Street, 16th Floor
         P.O. Box 1347
         Wilmington, DE  19899-1347
         Tel: (302) 351-9357
         Fax: (302) 425-4664
         Email: dabbott@mnat.com

                        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., 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: 9-Member Creditors' Committee Formed
-----------------------------------------------------------
U.S. Trustee Patrick S. Layng appointed nine members to serve in
the Official Unsecured Creditors' Committee in the Chapter 11 cases
of Caesars Entertainment Operating Company, Inc., et al.:

The Creditors' Committee is consists of:

      1. International Game Technology
         Attn: Linda Rosenthal
         9295 Prototype Drive
         Reno, NV 89521-8986

      2. US Foods, Inc.
         Attn: Dorothy Capers
         9399 W. Higgins Road, Suite 600
         Rosemont, Il 60018

      3. Law Debenture Trust Company of New York
         Attn: James D. Heaney
         400 Madison Avenue, Suite 4D
         New York, NY 10017

      4. MeehanCombs Global Credit
         Attn: Matt Meehan
         Opportunities Master Fund, LP
         40 Signal Road
         Stamford, CT 06902

      5. Wilmington Trust, NA
         Attn: Geoffrey J. Lewis
         Rodney Square North
         1100 N. Market Street
         Wilmington, DE 19890-00001

      6. Hilton Worldwide, Inc.
         Attn: Charles Corbin*
         7930 Jones Branch Drive, 6th Floor
         McLean, VA 22102

      7. Board of Levee Commissioners
         Attn: Willie Gregory for the Yazoo Mississippi Delta
         P.O. Box 494
         Greenwood, MS 38935-0494

      8. Earl of Sandwich (Atlantic City) LLC
         Attn: Thomas Avallone
         4700 Millenia Blvd, Suite 400
         Orlando, FL 32839

      9. PepsiCo, Inc.
         Attn: Michael T Bevilacqua
         1100 Reynolds Blvd.
         Winston-Salem, NC 27105

                   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 will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois, according to a ruling by
Delaware Bankruptcy Judge Kevin Gross.

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: Schwartz Withdraws as CEC Counsel
--------------------------------------------------------
The U.S. Bankruptcy Court authorized Jeffrey M. Schwartz and
Folarin S. Dosunmu of Much Shelist, P.C. to withdraw as counsel to
Caesars Entertainment Corporation.

On Jan. 16, 2015, Mr. Schwartz filed his appearance on behalf of
CEC and on Jan. 29, Mr. Dosunmu filed his appearance on behalf of
CEC.

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 will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois, according to a ruling by
Delaware Bankruptcy Judge Kevin Gross.

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 FEDERAL: MacNealy Hoover Held 8% Stake as of Feb. 3
-----------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, MacNealy Hoover Investment Management Inc.
disclosed that as of Feb. 3, 2015, it beneficially owned 1,331,346
shares of common stock of Central Federal Corporation representing
8.4 percent of the shares outstanding.  

Mr. Harry C.C. MacNealy is MacNealy Hoover's chief executive
officer and chief compliance officer.  Of the 1,331,346 Shares held
by MacNealy Hoover, Mr. MacNealy beneficially owns 100,000 Shares
in his retirement account and 20,000 Shares in his trust.

Mr. Charles C. Hoover is MacNealy Hoover's president.  Of the
1,331,346 Shares held by MacNealy Hoover, Mr. Hoover beneficially
owns 9,500 Shares in his retirement account.

A copy of the regulatory filing is available for free at:

                         http://is.gd/dHztrG

                        About Central Federal

Fairlawn, Ohio-based Central Federal Corporation (Nasdaq: CFBK) is
the holding company for CFBank, a federally chartered savings
association formed in Ohio in 1892.  CFBank has four full-service
banking offices in Fairlawn, Calcutta, Wellsville and Worthington,
Ohio.

As reported by the TCR on April 24, 2014, the Board of Directors
of Central Federal approved the engagement of BKD, LLP, to serve
as the Company's independent registered public accounting firm for
the year ending Dec. 31, 2014.  Crowe Horwath LLP was dismissed as
the Company's accounting firm on April 17, 2014.

The Office of the Comptroller of the Currency has terminated the
Cease and Desist Order against CFBank, a subsidiary of Central
Federal Corporation, effective Jan. 23, 2014.  The CFBank Order
has been in place since May 25, 2011, which was prior to the 2012
capital raise and recapitalization of Central Federal Corporation
and CF Bank by the current management team and standby investor
group led by Timothy O'Dell (CEO), Thad Perry (President) and
Robert Hoeweler (Chairman).

Central Federal reported a net loss of $918,000 in 2013, a net
loss of $3.76 million in 2012 and a net loss of $5.42 million
in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $307.6
million in total assets, $273 million in total liabilities and
$34.3 million of stockholders' equity.


CLINE MINING: US Court Recognizes Plan of Compromise
----------------------------------------------------
The Hon. Elizabeth E. Brown of the U.S. Bankruptcy Court for the
District of Colorado issued an order giving full force and effect
in the U.S. States to the Ontario Court's order sanctioning the
plan of compromise and arrangement of Cline Mining Corporation, New
Elk Coal Company LLC, and North Central Energy Company,

FTI Consulting Canada Inc., the court-appointed monitor and foreign
representative of the Debtors, retained as counsel:

  Mark Nixdorf, Esq.
  Ken Coleman, Esq.
  Jonathan Cho, Esq.
  ALLEN & OVERY LLP
  1221 Avenue of the Americas
  New York, NY 10020
  Tel: (212) 610-6300
  Fax: (212) 610-6399
  Email: mark.nixdorf@allenovery.com
         ken.coleman@allenovery.com
         jonathan.cho@allenovery.com

                          About Cline

Cline Mining Corporation -- http://www.clinemining.com/-- is a
Canadian mining company headquartered in Toronto, Ontario with
resource development interests in Canada, the United States and
Madagascar.


CONSILIUM COMPANY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Consilium Company, LLC
           fka Consilium1, LLC
           fka Advantage Systems Professionals, LLC
        P.O. Box 490
        Buffalo, NY 14231

Case No.: 15-10213

Chapter 11 Petition Date: February 10, 2015

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Hon. Carl L. Bucki

Debtor's Counsel: Robert B. Gleichenhaus, Esq.
                  GLEICHENHAUS, MARCHESE & WEISHAAR, P.C.
                  930 Convention Tower
                  43 Court Street
                  Buffalo, NY 14202
                  Tel: (716) 845-6446
                  Fax: 716-845-6475
                  Email: RBG_GMF@hotmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joesph R. Kreuz, partner.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb15-10213.pdf


COVERIS HOLDINGS: S&P Retains 'B-' CCR Over $85MM Notes Add-On
--------------------------------------------------------------
Standard & Poor's Ratings Services said its 'B-' issue-level rating
on U.S.-based packaging company Coveris S.A.'s 7.875% senior
unsecured notes due 2019 are unchanged following Coveris' proposed
add-on of $85 million.  The recovery rating on this debt remains
'5', reflecting S&P's expectation for modest recovery (10% to 30%;
lower end of the range) in the event of a payment default. S&P
expects the company to use the proceeds to pay down about $65
million of outstanding balance under one of its revolving credit
facilities and to add cash to balance sheet.

All other ratings, including the 'B' corporate credit rating and
stable outlook, are unchanged.

S&P continues to view the company's business risk profile as
"fair," reflecting the company's improved global position in rigid
and flexible plastic and paper packaging following Sun Capital's
consolidation of its packaging businesses, as well as the company's
potential to benefit from further cost reductions and procurement
savings.  This is offset by the company's participation in
fragmented and competitive markets, which will continue to limit
pricing power in some of the company's commodity-like products.
S&P's assessment of Coveris' financial risk profile reflects very
aggressive financial policies resulting from financial sponsor
ownership and S&P's expectation that the company will maintain high
debt leverage.  S&P projects credit measures will remain in line
with the indicative ratios for a "highly leveraged" financial risk
profile, including leverage (adjusted for restructuring and
transaction related expenses, shareholder loans, capitalized
operating leases, and postretirement obligations) of 5x to 6x over
the next 12 months.

RATINGS LIST

Coveris Holdings S.A.
Corporate Credit Rating              B/Stable/--
Senior Unsecured Notes Due 2019      B-
   Recovery Rating                    5



DENDREON CORP: Cancels Asset Auction; Sale Hearing Set for Feb. 20
------------------------------------------------------------------
Biotechnology company Dendreon Corp. has canceled an auction of its
assets scheduled for today, according to a filing it made in U.S.
Bankruptcy Court in Delaware.

An auction of almost all of Dendreon's assets was supposed to be
held today but it was canceled after the company didn't receive
bids from other potential buyers.

Dendreon said it will ask U.S. Bankruptcy Judge Laurie Selber
Silverstein at a court hearing on Feb. 20 to approve the sale of
its assets to Valeant Pharmaceuticals International, which made a
$400 million offer.

Judge Silverstein earlier approved Valeant Pharmaceuticals as the
stalking horse bidder.  The company initially offered $295 million
for the assets but it agreed to increase its bid by 35% to retain
its place as stalking horse.

A Feb. 6 report from Bloomberg said that Dendreon shares rose as
much as 46% on news of the higher price.  Its $620 million in
2.875% convertible notes due 2016 had climbed 19% by midday on Feb.
5 in New York, according to the report.

Dendreon's Statement

Dendreon on Feb. 10 disclosed that the bid deadline provided by the
Court-approved bidding procedures for the sale of substantially all
of the Company's assets has expired without receipt of additional
qualified bids.  The Company previously entered into an asset
purchase agreement with Valeant Pharmaceuticals International, Inc.
through which Valeant will acquire the world-wide rights of
PROVENGE(R) (sipuleucel-T) and certain other Dendreon assets for
$400 million.  A hearing at which Dendreon and Valeant will seek
the required Court approval of the sale is scheduled for February
20, 2015.

"The robust sale process resulted in an agreement that maximizes
the value of Dendreon while allowing PROVENGE to remain
commercially available to patients and providers," said W. Thomas
Amick, president and chief executive officer of Dendreon.  "We are
confident that Valeant will be a strong owner for PROVENGE and
patients will be able to receive treatments with no disruption
moving forward.  We want to thank our employees whose continued
hard work, dedication and commitment to serving our physicians and
their patients enabled us to move through this process."

Dendreon anticipates the completion of the sale to Valeant to occur
by the end of February 2015, subject to certain closing conditions,
including approval from the Court.

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

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

Weil, Gotshal & Manges LLP acted as legal advisor to Valeant.

                       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.


DENDREON CORP: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Dendreon Corporation filed with the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property          $320,697,757
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                        $0
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                      $640,050,463
                                 -----------      -----------
        TOTAL                   $320,697,457     $640,050,463

A copy of the schedules is available for free at

        http://bankrupt.com/misc/DENDREONCORP_325_sal.pdf

                       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.


DENDREON: Creditors Have Until March 16 to File Proofs of Claim
---------------------------------------------------------------
The U.S. Bankruptcy Court established these bar dates for filing
claims against Dendreon Corporation, et al.:

   1. March 16, 2015, at 4:00 p.m., as general bar date; and

   2. May 11, 2015, at 4:00 p.m., as governmental bar date.

As reported in the Troubled Company Reporter on Feb. 9, 2015, each
claim form must be actually received on or before the applicable
bar date associated with such claim by Prime Clerk LLC, the
Court-approved claims and noticing agent in the cases, either (a)
electronically using the interface available on Prime Clerk's
website at https://cases.primeclerk.com/dendreon/EPOC-Index or (b)
via hard copy at these addresses:

         Dendreon Corporation Claims Processing Center
         c/o Prime Clerk LLC
         830 3rd Avenue, 9th Floor
         New York, NY 10022

                       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.


DMRB PROPERTIES: Case Summary & 5 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: DMRB Properties, LLC
        4725 Lake Villa Drive
        Metairie, LA 70002

Case No.: 15-10318

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 10, 2015

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Hon. Elizabeth W. Magner

Debtor's Counsel: William G. Cherbonnier, Jr., Esq.
                  WILLIAM G. CHERBONNIER ATTORNEY AT LAW, LLC
                  2550 Belle Chasse Highway, Suite 215
                  Gretna, LA 70053
                  Tel: (504) 309-3304
                  Fax: (504) 309-3306
                  Email: usbcdocs@billcherbonnier.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Chandrashekhar Subramaniam, manager.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/laeb15-10318.pdf


DUNE ENERGY: Eos Petro Extends Tender Offer Until Feb. 13
---------------------------------------------------------
In connection with the previously announced agreement and plan of
merger, dated Sept. 17, 2014, between Dune Energy, Inc., Eos Petro,
Inc., and  Eos Merger Sub, Inc., the parties have agreed to extend
the expiration of the tender offer to acquire all of the
outstanding shares of common stock of Dune to Friday, Feb. 13,
2015, at 12:00 Midnight, New York City time, to allow the parties
additional time to negotiate revised terms to the Merger
Agreement.

The tender offer was previously scheduled to expire on Feb. 6,
2015.  The depositary for the tender offer has advised that, as of
the close of business on Feb. 5, 2015, a total of approximately
62,267,096 shares or 85.29325% of outstanding shares had been
validly tendered and not properly withdrawn pursuant to the tender
offer, which is sufficient to satisfy the minimum tender condition
contemplated by the Merger Agreement.

Eos has informed Dune that, due to the recent severe decline in oil
prices, Eos cannot proceed to complete the merger and tender
described in the Merger Agreement, at least not on the terms
originally negotiated.  Because of the severe decline in oil
prices, Eos' sources of capital for the merger and tender offer
were withdrawn.  

Dune and Eos are currently in the process of negotiating potential
revised terms for the Merger Agreement upon which the merger and
tender offer could still be completed.  Those revised terms may
include, but are not limited to, revising the $0.30 per share price
for the shares of Dune common stock tendered for purchase in the
tender offer.  If the parties are able to agree on revised terms,
the tender offer will remain open for a minimum of 10 business days
from the date those revised terms are made publicly available, in
order to give Dune's investors adequate time to consider the
revised terms.  If those terms are agreed upon, the parties do not
expect the revised per share price for the shares of Dune common
stock tendered for purchase in the tender offer to be more than
nominal.

                         About Dune Energy

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

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

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

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


EMPIRE RESORTS: Kien Huat Reports 67% Stake as of Feb. 6
--------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Kien Huat Realty III Limited and Lim Kok Thay
disclosed that as of Feb. 6, 2015, they beneficially owned
31,191,035 shares of common stock of Empire Resorts, Inc.,
representing 67 percent of the shares outstanding.  

In connection with the 2015 Rights Offering, the Issuer and Kien
Huat entered into a standby purchase agreement.  Under the terms of
the 2015 Standby Purchase Agreement, Kien Huat agreed to exercise
in full its basic subscription rights granted in the 2015 Rights
Offering and, in addition, agreed to exercise all rights not
otherwise exercised by the other holders in the 2015 Rights
Offering in an aggregate amount not to exceed $50,000,000.

On Feb. 6, 2015, in accordance with the 2015 Standby Purchase
Agreement, Kien Huat purchased 2,667,165 additional shares of
Common Stock representing those rights not exercised by other
holders.  Kien Huat paid the Issuer a total of $18,936,871 in
connection with such exercise, and, in accordance with the 2015
Standby Purchase Agreement, the Issuer agreed to pay Kien Huat a
fee of $250,000 and to reimburse Kien Huat for $40,000 of
out-of-pocket fees and expenses incurred in connection with the
transactions.

A full-text copy of the regulatory filing is available at:

                         http://is.gd/fLVzsi

                        About Empire Resorts

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

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

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


EMPIRE RESORTS: Reports Closing of Rights Offering
--------------------------------------------------
Empire Resorts, Inc., announced its rights offering and standby
purchase of shares not sold in the Rights Offering, which generated
approximately $50 million in gross proceeds for the Company closed
on Friday, Feb. 6, 2015.  The Company issued a total of 7,042,254
shares of common stock at $7.10 per share.  This includes 53,291
shares issued to holders upon exercise of their basic subscription
rights and 4,321,798 shares issued to Kien Huat Realty III Limited,
the Company's largest stockholder, upon exercise of its basic
subscription rights.  Kien Huat also acquired the remaining
2,667,165 shares not sold in the Rights Offering pursuant to the
terms of a standby purchase agreement. The Company paid Kien Huat a
fee of $250,000 for its commitment pursuant to the standby purchase
agreement and reimbursed Kien Huat for its expenses related to the
standby purchase agreement in an amount of $40,000.  After giving
effect to the Rights Offering, Kien Huat will own approximately 67%
of the outstanding shares of the Company's common stock.

The Company expects the net proceeds of the Rights Offering to be
approximately $49.6 million following the deduction of expenses.
The Company anticipates using the net proceeds of the Rights
Offering to fund the expenses relating to the Company's pursuit of
a gaming facility license for the Montreign Resort Casino proposed
to be built in Sullivan County, New York.  If the Company is not
awarded a gaming facility license, the remaining portion of the
proceeds of the Rights Offering will be used in its on-going
operations.

                        About Empire Resorts

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

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

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


ENERGY FUTURE: Texas Bill Could Open Unit's Assets to Others
------------------------------------------------------------
Law360 reported tat a Texas state lawmaker has filed a new bill
that could clear the way for power generators to buy a subsidiary
of bankrupt Energy Future Holdings Corp., by lifting a 20 percent
cap on how much power generators can own on Texas' electrical
grid.

According to the report, the bill, H.B. 962, would amend a section
of the state's utility code to remove language banning the
ownership and control of "more than 20 percent of the installed
generation capacity located in or capable of delivering electricity
to a power plant."

                     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.


FALCON STEEL: Committee Has Additional Work for Deloitte
--------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Falcon Steel Company and New Falcon Steel, LLC, on Jan.
15, 2015, filed a supplemental application to expand the current
limited scope of Deloitte Transactions and Business Analytics LLP,
the panel's financial advisor, to allow DTBA to assist the
Committee with plan negotiations and communications with creditors
concerning, among other things, liquidity support arrangements
pursuant to the terms of an amendment to the engagement letter,
dated Jan. 7, 2015.

The U.S. Bankruptcy Court authorized the Committee to retain
Deloitte as the panel's financial advisor nunc pro tunc to Sept.
28, 2014.

The additional work for DTBA consists of:

   a. advising and assisting the Committee in connection with
negotiations of the terms of a Chapter 11 plan; and

   b. advising and assisting the Committee with communications to
creditors, including communications to promissory noteholders and
trade vendors regarding trade or Chapter 11 plan terms and other
liquidity support arrangements.

DTBA will be compensated no more than $100,000 excluding reasonable
expenses (the amended fee cap).  DTBA's hourly rates range from
$695 for principals/directors to $150 for paraprofessionals.  The
current hourly rates for DTBA's primary professionals who will be
providing the services to the Committee are:

         William K. Snyder, principal                $695
         Louis E. Robichaux, IV, principal           $625
         Russell A. Perry, senior vice president     $475
       
The Committee is represented  by:

         Jonathan L. Howell, Esq.
         Eric M. Van Horn, Esq.
         MCCATHERN PLLC
         Regency Plaza
         3710 Rawlins Street, Suite 1600
         Dallas, TX 75219
         Tel: (214) 273-6409
         Fax: (214) 723-5966
         E-mails: jhowell@mccathernlaw.com
                  ericvanhorn@mccathernlaw.com

                    About Falcon Steel Company

Falcon Steel Company and New Falcon Steel, LLC, sought Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Texas, Fort Worth Division (Case Nos. 14-42585 and 14-42586) on
June 29, 2014.  Falcon Steel claims to be the only American-owned
company that builds steel lattice towers for high electrical
transmission lines.

Falcon Steel was formed in 1963 and has operated continuously
since that time as a manufacturer engaged in fabricating and
galvanizing structural steel for customers in the United States.
New Falcon, a subsidiary, suspended operations in June 2013 and is
being held for sale.

Falcon has three manufacturing plants in the DFW area in Texas,
with one facility in Haltom City, another in Euless, and the third
facility in Kaufman, Texas.  The company's corporate headquarters
is located at its Haltom City plant.  It currently employs
approximately 255 employees.

Bankruptcy Judge D. Michael Lynn, in an amended order, directed
the joint administration of the case of Falcon Steel Company and
New Falcon Steel, LLC (Lead Case No. 14-42585).

Falcon Steel estimated assets and debt of $10 million to $50
million.

The Debtors have tapped Forshey & Prostok, LLP, as general counsel
and employ Decker, Jones, McMackin, McClane, Hall & Bates, P.C. as
special corporate counsel.  Ryan LLC acts as property tax
consultant.  The Debtors also tapped Western Operations LLC as
financial consultant, and Rylander, Clay & Opitz, LLP, as
accountants.

The U.S. Trustee has appointed a five-member panel to serve as the
official unsecured creditors committee in the Debtors' cases.  The
Committee has tapped McCathern, PLLC, as counsel.


HEALING HANDS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Healing Hands Home Health, Inc.
           aka Healing Hands Home Health, LLC
        952 O'Neal Lane
        Baton Rouge, LA 70816

Case No.: 15-10138

Nature of Business: Health Care

Chapter 11 Petition Date: February 10, 2015

Court: United States Bankruptcy Court
       Middle District of Louisiana (Baton Rouge)

Debtor's Counsel: Michael Allen Crawford, Esq.
                  Chase Tower - Eighth Floor
                  451 Florida Street
                  P.O. Box 2471
                  Baton Rouge, LA 70821-2471
                  Tel: 225-381-0201
                  Fax: 225-3468049
                  Email: mike.crawford@taylorporter.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Basil Waldron, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lamb15-10138.pdf


HEALOGICS INC: S&P Affirms 'B' CCR; Outlook Remains Negative
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Jacksonville, Fla.-based CDRH Parent Inc. and
operating subsidiary Healogics Inc.  The outlook is negative.

In addition, S&P affirmed the 'B' rating to co-borrowers CDRH
Parent Inc.'s and Healogics Inc.'s first-lien term loan; the
recovery rating on this debt remains '4'.  The company plans a $125
million add-on to this debt.  The '4' recovery rating indicates
S&P's expectation for average (30% to 50%) recovery of principal in
the event of payment default.  At the same time, S&P affirmed its
'CCC+' rating on the second-lien term loan; the recovery rating on
this debt remains '6'.  The company intends to issue a $50 million
add-on to the second-lien term loan.  The '6' recovery rating
indicates S&P's expectation for negligible (0% to 10%) recovery of
principal in the event of payment default.

"Our 'B' corporate credit rating and negative outlook on Healogics
reflects our view that the acquisition will not meaningfully
improve the company's business risk and that its leverage remains
high," said Standard & Poor's credit analyst Tulip Lim.  Further,
the acquisition of Accelecare does not ameliorate some of the
headwinds facing the business, namely slowing revenues of
hyperbaric oxygen therapy chambers (HBOTCs) and pricing pressure.
As a result, we continue to see risks to our base case.

S&P's negative outlook on Healogics reflects risks that the company
may not meet S&P's expectations for EBITDA and cash flow generation
this year.

S&P could lower its rating if it concludes that 2015 EBITDA will be
significantly below its projections or cash flow will remain a
deficit.  This could result if margins declined by 200 basis points
from integration challenges, lower clinic utilization, more
contract losses or more intense price pressure than S&P expects in
the wound care business, continued declines in HBOTC volume, or
bigger HSP losses than S&P expects.

S&P could revise the outlook to stable if it gains confidence the
company will meet or exceed S&P's base-case expectations and
generate moderately positive discretionary cash flow.



HOPE ACADEMY: Fitch Lowers Rating on $8.68MM Bonds to 'BB-'
-----------------------------------------------------------
Fitch Ratings has downgraded the rating to 'BB-' from 'BB' on
approximately $8.68 million of outstanding public school academy
limited obligation revenue bonds, series 2011, issued by the
Michigan Finance Authority on behalf of Hope Academy.

The Rating Outlook is also revised to Negative from Stable.

SECURITY

Pledged revenues consist of up to 20% of state allocated per pupil
foundation allowance (PPFA), and all other legally available,
unrestricted funds.  The trustee intercepts the pledged revenues
from the state of Michigan monthly for bond debt service, prior to
remitting excess funds to Hope.  In addition to the intercept,
bondholders benefit from a property mortgage and a cash-funded debt
service reserve equal to maximum annual debt service (MADS). There
is an annual debt service coverage (DSC) covenant of at least
1.1x.

KEY RATING DRIVERS

MULTIPLE FACTORS DRIVE RATING ACTIONS: Hope's weak balance sheet
resources, high debt burden, enrollment decline in fall 2014, low
academic performance, and pending charter renewal all drive the
rating downgrade and Negative Outlook.  Hope's financial and
renewal risks have both increased, and are now more characteristic
of the 'BB-' rating category.

WEAK BALANCE SHEET: Hope's balance sheet remains weak, which
provides limited flexibility to manage operating or enrollment
fluctuations.  Fiscal 2014 available funds ratios were only 1.2% of
operating expenses and 0.9% of debt.

LOW ACADEMIC PERFORMANCE: Hope has demonstrated low academic
performance in the last four academic years.  In 2013 and 2014 it
was designated by the state as a 'Priority School' with very weak
academic results relative to all Michigan schools.  Hope is
currently in the first of a three-year remediation plan.  There is
significant weight placed on academic performance in the charter
renewal process, which is a key credit concern.

ENROLLMENT AND POPULATION DECLINES: Enrollment dipped 13% in fall
2014 (fiscal 2015), following several years of growth.  This
decline is partly due to lower Detroit area population.  Stressed
enrollment, in combination with pressure to enhance academic
performance, strains operating results and increases credit risk.

DSC ACHIEVED: Hope has met or slightly exceeded covenanted DSC of
1.1x in six out of the last seven fiscal years, including 1.3x in
fiscal 2014.  Management projects meeting coverage in fiscal 2015.
This is a credit strength that precludes a larger downgrade at this
time.

RATING SENSITIVITIES

ACADEMIC PERFORMANCE: Failure to improve academic performance, and
make significant annual progress under the mandatory three-year
academic transformation plan could heighten renewal risk and cause
rating pressure.

ENROLLMENT AND FINANCIAL PERFORMANCE: Failure to stabilize or build
enrollment in fall 2015, contributing to weaker operating
performance, DSC and bond covenant compliance, would likely result
in additional downgrades.

STANDARD SECTOR CONCERNS: A limited financial cushion; substantial
reliance on enrollment-driven, per pupil funding; and charter
renewal risk are credit concerns common among all charter school
transactions that, if pressured, could negatively impact the
rating.

CREDIT PROFILE

Hope Academy is a K-8 charter school located near the historic
district of Detroit, MI (the city), and serves students living in
the city and surrounding suburbs.  Hope has operated since 1998,
having received three five-year charters, with the most recent
renewal a three-year charter through June 2016.  Fitch understands
the shorter charter term is due in part to poor academic
performance.  Most students are from low-income families and
qualify for free or reduced lunch assistance.  About 10% receive
special education services.

A separate alternative high school temporarily shared both Hope's
facility and its charter authorization for only the 2012/2013
academic year.  That arrangement ended, and only Hope now occupies
the facility.

ENROLLMENT PRESSURES

Proceeds from the series 2011 bonds were used to purchase a former
Detroit Public School building with capacity of about 700 students.
This allowed Hope to add seventh and eighth grades. Enrollment for
fall 2014 fell 13% to 615, down from 705 in fall 2013.  This
decline followed six years of enrollment growth.

Management reports that the lower fall 2014 enrollment was due to
population decline in the Detroit metro area, where there are more
public/charter school seats available relative to students,
creating a competitive environment.  In addition, as Hope does not
provide transportation, if parents move it may be difficult to
continue at the school.  Hope's leadership indicates that
applications for fall 2015 are currently ahead of the same time
last year.

Further, the school typically sees attrition within the academic
year, which results in lower student revenue.  In the 2014-2015
academic year, fall enrollment dipped about 3% from 615 to 595 by
January; in the 2013-2014 academic year, fall enrollment dipped 7%
from 705 to 656 for the same period.

MANAGEMENT CHANGES

Hope made significant management change in the 2013-2014 year,
which have resulted in lower expenses in fiscal 2015.  These
include changing to a management company structure with Black
Family Development, Inc. (BFDI) as manager and employer of all
staff, hiring a new school leader, cutting expenses, and laying off
some non-teaching staff in order to focus on academics. Effective
fiscal 2015, Hope/BDFI employees are no longer part of the state
retirement system.  Hope's board composition remains stable with
five members.

Fitch notes positively that the school currently remains in good
standing under its charter and management has a positive working
relationship with the authorizer, Eastern Michigan University
(EMU).

SLIM BUT BALANCED OPERATING PERFORMANCE

Hope's operating margin has fluctuated widely in recent years, and
on a full accrual basis has been modestly negative in four out of
the last seven years.  Fiscal 2014 results were close to break-even
at negative 0.2%.  Fiscal 2013 results include financial operations
of the alternative high school which is no longer part of Hope, and
are not comparable to prior years.

For the current fiscal 2015 budget year, management reports that
its budget is balanced and six-month interims are on track with
budget expectations.  Hope expects to achieve the 1.1x annual DSC
and have a small surplus.  Failure to meet coverage covenants would
likely trigger a downgrade by Fitch.  For the current fiscal 2015
budget, the school continues to monitor and adjust its expenses.
Fitch views Hope's weak balance sheet reserves as limiting the
school's ability to absorb enrollment or state funding
fluctuations.

SUFFICIENT DSC

Positively, Hope has achieved at least 1.0x current coverage in all
but one of the last six years.  Fiscal 2014 MADS coverage (which is
virtually the same as annual coverage due to level debt service)
was 1.3x, which compares to fiscal 2013 coverage of 1.5x. Fiscal
2013 results, which include operation of the alternative high
school, are not comparable to other years.  Management projects it
will modestly exceed coverage requirements in fiscal 2015.  Fitch
does not view Hope as having any new debt capacity at this time.

WEAK BALANCE SHEET

Hope has had a weak balance sheet historically.  Available funds
(AF), defined as cash and investments not permanently restricted,
was $81,000 at June 30, 2014, well below the already slim $145,000
at June 30, 2013.  Fiscal 2014 AF represented only 1.2% of annual
operating expenses ($6.7 million) and 0.9% of outstanding debt
($8.6 million).  Fitch considers this liquidity level very weak for
the 'BB' rating category.

The school has a 2015 state aid note for $950,000 (the same amount
as in 2014) to smooth cash-flow during the academic year.  The note
is secured by state per-pupil funding.  Hope reports that state
payments are consistently made on time.

ACADEMIC PERFORMANCE

In each of the last four academic years, Hope has failed to achieve
state academic targets.  In both 2013 and 2014, continuing into
2015, the school is classified as a 'Priority School', an
under-performing institution.  As such, Hope's academic achievement
is among the lowest 5% of all schools (public and charter) in
Michigan.  The 2014-2015 academic year is the first of Hope's
state-mandated, three-year academic transformation plan to improve
academic performance.  Like other schools in Michigan and many in
the U.S., Hope is also preparing for new state tests, which adds
further uncertainty.  Michigan is adopting a hybrid of its previous
achievement test with some Common Core components, to be
administered in the spring of 2015.

CHARTER RENEWAL

EMU, Hope's authorizer, noted that academic performance is weighted
heavily (as much as 60%) in renewal considerations.  EMU renewed
Hope's charter in 2013, but for a three-year period instead of the
standard (and former) five-year period.  This change was due in
part to Hope's academic performance.  Fitch continues to view
Hope's charter renewal risk as heightened.



IDERA PHARMACEUTICALS: Plans to Sell $75 Million Common Shares
--------------------------------------------------------------
Idera Pharmaceuticals, Inc., intends to offer and sell up to
$75,000,000 of shares of its common stock in an underwritten public
offering.  In connection with this offering, Idera expects to grant
the underwriters a 30-day option to purchase additional shares of
common stock, equal to up to 15% of the number of shares of common
stock sold in the offering.  All of the shares in the offering are
to be sold by Idera.  Idera intends to use the net proceeds from
this offering, together with existing cash, cash equivalents and
investments, to advance clinical development of certain of its
programs.  Goldman, Sachs & Co. and J.P. Morgan are acting as joint
bookrunning managers for the offering.

The shares are being offered by the Company pursuant to a shelf
registration statement previously filed with and declared effective
by the Securities and Exchange Commission on May 12, 2014.  A
preliminary prospectus supplement describing the terms of the
offering will be filed with the Securities and Exchange Commission
and will form a part of the effective registration statement.  The
offering will be made only by means of the written prospectus and
prospectus supplement that form a part of the registration
statement.

                    Registration Rights Agreement

On Feb. 9, 2015, Idera Pharmaceuticals entered into a registration
rights agreement with 667, L.P., Baker Brothers Life Sciences, L.P.
and 14159, L.P., relating to the registration for resale of the
shares of the Company's common stock held by the Selling
Stockholders, including the shares of the Company's common stock
that may be issued upon the exercise of warrants.

Under the Registration Rights Agreement, the Company has agreed to
file a registration statement on Form S-3 with the Securities and
Exchange Commission within 60 days after demand by any of the
Selling Stockholders, to register for resale the Registrable
Shares.  The Company has agreed to use its reasonable best efforts
to cause the registration statement to become effective as promptly
as practicable after filing, and to remain effective until the
shares being registered thereunder have been sold or may be sold
freely without limitations or restrictions as to volume or manner
of sale pursuant to Rule 144.

As of Dec. 31, 2014, Baker Bros. Advisors LP and certain of its
affiliated funds, held 1,628,172 shares of the Company's common
stock, warrants to purchase up to 20,316,327 shares of the
Company's common stock at an exercise price of $0.47 per share and
pre-funded warrants to purchase up to 22,151,052 shares of the
Company's common stock at an exercise price of $0.01 per share.
Julian C. Baker and Dr. Kelvin M. Neu, each of whom is an affiliate
of Baker Brothers, serve on the Company's board of directors.
Except for the ownership of the shares of common stock, warrants
and prefunded warrants and Mr. Baker and Dr. Neu's service on the
Company's Board of Directors, the Selling Stockholders have not had
any material relationship with the Company or its affiliates.

                    About Idera Pharmaceuticals

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera Pharmaceuticals reported a net loss of $18.2 million in
2013, a net loss of $19.2 million in 2012, and a net loss of
$23.8 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed
$60.6 million in total assets, $7.81 million in total liabilities,
and $52.8 million in total stockholders' equity.


INSTITUTO MEDICO: Renews Bid to Hire Robert Roth
------------------------------------------------
Instituto Medico Del Norte, Inc., filed an amended motion for
reconsideration of the order dated Dec. 19, 2014, denying its
application to employ Robert Roth and the Law Firm of Hooper, Lundy
& Bookman, P.C., as special counsel

On Dec. 10, 2014, the Debtor filed an application to employ Mr.
Roth and Hooper Lundy as special counsel for the collection of
funds related to Debtor's "DSH Part C Days Issue" for Fiscal Years
2003 and 2004 which are pending as an appeal before the Provider
Reimbursement Review Board.  The U.S. Trustee opposed because the
employment contemplated an initial non-refundable flat fee of
$5,000.  The Court denied the application for employment four days
later.

The Debtor filed a request for reconsideration on Dec. 30, which
was denied without prejudice on Jan. 5, 2015.

The Debtor, in the amended motion stated that the employment is
beneficial to the estate and its creditors.  The employment of Roth
is economical and beneficial for the estate and has the potential
of providing a benefit of over $75,000 to the estate.

The Debtor added that the U.S. Trustee has misunderstood the nature
of the $5,000 payment.  It explained that the $5,000 flat fee would
still be subject to the dispositions of Section 330 -- if the
services are not provided the professional can be ordered to
reimburse the funds.

As reported in the TCR on Dec. 29, 2014, the firm will provide
Hospital Wilma N. Vazquez with legal services relating to resolving
the Hospital's Medicare DSH Part C days issue, which is currently
pending in the Hospital's appeal before the Provider Reimbursement
Review Board for fiscal years 2003, 2004, 2005 and 2006.

Mr. Roth will be retained by the Debtor for an initial flat fee of
$5,000 and an additional 10% of any recovery on the claims being
collected on behalf of the Debtor, plus reasonable expenses.

The Debtor assures the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

                      About Instituto Medico

Instituto Medico del Norte, Inc., aka Centro Medico Wilma N.
Vazquez, aka Hospital Wilma N. Vazquez Skill Nursing Facility of
Centro Medico Wilma N. Vazquez, sought protection under Chapter 11
of the Bankruptcy Code on Oct. 30, 2013 (Bankr. D.P.R. Case No.
13-08961). The case is assigned to Judge Mildred Caban Flores.

The Debtor scheduled $20,843,692 in total assets and $20,107,642
in total liabilities.  The Debtor, however, said its real property
has a book value of $16,000,000 and personal property is worth
$6,105,979.

The Debtor is represented by Fausto David Godreau Zayas, Esq., and
Rafael A. Gonzalez Valiente, Esq., at Latimer Biaggi Rachid &
Godreau, in San Juan, Puerto Rico.  Luis B. Gonzalez & Co. CPA's
P.S.C. serves as accountant.

The U.S. Trustee for the District of Puerto Rico in December
appointed Dr. Carlos Mellado (b/t Lcda Dinorah Collazo Ortiz) as
patient care ombudsman.



JAMES RIVER: Committee Restructures Blacktone's Compensation
------------------------------------------------------------
In the Chapter 11 case of James River Coal Company, the U.S.
Bankruptcy Court will convene a hearing on Feb. 19, 2015, at 1:00
p.m., to consider a motion for order supplementing and modifying
the terms of Blackstone Advisory Partners L.P.'s engagement letter,
and the order approving Blackstone's retention.

Objections to the motion, if any, are due Feb. 16, 2015 at 4:00
p.m.

The Official Committee of Unsecured Creditors in the Chapter 11
cases of James River Coal Company, et al., notified the Court that
after the consummation of the sale of the Debtors' remaining
operational assets to Revelation Energy, LLC, the Debtors had been
monetizing their remaining nonoperational assets, and otherwise
winding down the estates.  

In this connection, the Debtors requested that the Committee
restructure the terms of Blackstone's compensation.

The Committee and Blackstone have agreed, as an accommodation to
the Debtors, that (x) the Debtors do not have to pay, and
Blackstone will not have earned, any subsequent monthly fee for
services rendered to the Committee in January 2015 through May 2015
unless and until there is a recovery to unsecured creditors in the
cases, and (y) the Debtors will no longer be obligated to pay any
monthly fee or subsequent monthly fee to Blackstone for services
rendered to the Committee after May 31, 2015.

The parties' agreement on Blackstone's fee structure includes:

   -- a monthly advisory fee in the amount of $150,000 in cash,
with the first monthly fee payable upon the execution of the
engagement letter by both parties and additional installments of
such monthly fee payable in advance on each monthly anniversary of
the effective date.  50% of all monthly fees beginning with the
seventh monthly fee payment will be credited against the
restructuring fee;

   -- an additional fee (the Restructuring Fee) equal to
$1,750,000.

   -- reimbursement of all documented reasonable out-of-pocket
expenses incurred during the engagement.

The relief requested has been consensually agreed to by the
Committee, the Debtors and Blackstone.

On Nov. 6, 2014, the Court entered the supplemental order modifying
the retention and employment of Blackstone as investment banker to
the Committee.

The Committee is represented by:

         Michael S. Stamer, Esq.
         Alexis Freeman, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         One Bryant Park
         New York, NY 10036-6745
         Tel: (212) 872-1000

               - and -

         Charles Gibbs, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         1700 Pacific Avenue, Suite 4100
         Dallas, TX 75201-4624
         Tel: (214) 969-2800

               - and -

         Jonathan L. Gold, Esq.
         Christopher L. Perkins, Esq.
         Christian K. Vogel, Esq.
         LECLAIRRYAN, A Professional Corporation
         Riverfront Plaza, East Tower
         951 East Byrd Street
         Richmond, VA 23219
         Tel: (804) 783-2003

                        About James River

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

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

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

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

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

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


JBJ PIPE & SUPPLY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: JBJ Pipe & Supply Co., Inc.
        3317 San Gabriel Blvd
        Rosemead, CA 91770

Case No.: 15-10652

Chapter 11 Petition Date: February 10, 2015

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

Judge: Hon. Erithe A. Smith

Debtor's Counsel: Steven R Fox, Esq.
                  LAW OFFICES OF STEVEN R. FOX
                  17835 Ventura Blvd Ste 306
                  Encino, CA 91316
                  Tel: 818-774-3545
                  Fax: 818-774-3707

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John Hua, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-10652.pdf


LDR INDUSTRIES: To Auction Operating Assets on February 24
----------------------------------------------------------
LDR Industries LLC will conduct an auction for its operating assets
on Feb. 24, 2015, at 12:00 noon (Central Time) at the Offices of
Reed Smith LLP at 10 S. Wacker Drive, 40th Floor in Chicago,
Illinois.  All interested parties are invited to submit a written
offer to purchase the operating assets no later than 12:00 noon on
Feb. 19, 2015.

The Hon. Pamela S. Hollis of the U.S. Bankruptcy Court for the
Northern District of Illinois will hold a hearing on Feb. 26, 2015,
at 11:00 a.m. (Central Time) to consider approval of the sale of
the Debtor's assets to the highest and best bidder.  Objections, if
any, to the sale must be filed by Feb. 24, 2015, at 5:00 p.m.
(Central Time).

On Jan. 28, 2015, the Debtor entered into an asset purchase
agreement with LDR Global Industries LLC for its assets.

                       About LDR Industries

For over 75 years, Chicago-based LDR Industries and its predecessor
companies have engaged in the distribution of plumbing products to
the home improvement industry, including faucets, showers, sinks,
toilet seats and variety of other specialty lines such as lead-free
valves.

LDR Industries, LLC, sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 14-32138) in Chicago, Illinois on Sept. 2, 2014, with
plans to sell the business following a dispute with the U.S.
Customs.

The bankruptcy case is assigned to Honorable Judge Pamela S.
Hollis.  The Debtor is represented by attorneys at Reed Smith LLP.

The Debtor disclosed $27,538,561 in assets and $29,751,647 in
liabilities as of the Chapter 11 filing.


METEOR ENTERTAINMENT: TriplePoint to Auction All Assets on Feb. 21
------------------------------------------------------------------
TriplePoint Capital LLC will sell substantially all of the asset of
Meteor Entertainment Inc. to the highest or otherwise best
qualified bidder at a public auction to be conducted on Feb. 21,
2015 at 10:00 a.m. (PST) at the offices of McDermott Will & Emery
LLP at 2049 Century Park East Suite 3800 in Los Angeles,
California.

TriplePoint said it has received an opening bid for the assets in
the amount of $1,676,507.  Any competing bid at the public auction
must exceed the opening bid to be considered by TriplePoint.  

McDermott Will & Emery can be reached at:

  McDermott Will & Emery LLP
  c/o Sarah Steigleder
  2049 Century Park East Suite 3800
  Los Angeles, CA 90067
  Tel: (310) 248 6107


NATURAL MOLECULAR: Chapter 11 Trustee May Sell Roche Equipment
--------------------------------------------------------------
The U.S. Bankruptcy Court authorized Mark Calvert, the Chapter 11
trustee for Natural Molecular Testing Corporation, to sell two
Roche MagNA Pure 96 Instruments leased by Roche Diagnostics
Corporation outside of the ordinary course of business.

The trustee is authorized to sell:

   1. one MagNA Pure instrument to Atossa Genetics, Inc., for
$50,000 payable in cash soon as practicable after entry of the
order;
   
   2. the other MagNA Pure instrument to MedTech National, Inc., or
its assignee, which must have a minimum equity of $1,000,000 in
return for a promissory note in the amount of $50,000, bearing
interest at the rate of 6% per annum, payable in monthly
installments of $1,500 each from May 1, 2015, until May 1, 2018,
and one payment of $242 due June 1, 2018.  

The trustee may make distributions to (1) Landlord East Valley
Petula, LLC and East Valley PFG, and (2) postpetition lender Acamar
Investments, Inc. on account of their undisputed secured claims
from the proceeds of the Roche Equipment without further order of
the Court.

The remaining sales proceeds will be deemed unencumbered funds of
the Debtor's estate.

                     About Natural Molecular

Natural Molecular Testing Corp., which provides molecular
diagnostic-testing services, including testing for sexually
transmitted diseases and screening and counseling about cystic
fibrosis, filed a petition for Chapter 11 protection (Bankr. W.D.
Wash. Case No. 13-19298) on Oct. 21, 2013, in Seattle.  Hacker
& Willig, Inc., P.S., serves as its bankruptcy counsel. The
closely held company said assets are worth more than $100 million
while debt is less than $50 million.

Gail Brehm Geiger, Acting U.S. Trustee for Region 18, appointed a
five-member Committee of Unsecured Creditors.  Foster Pepper's
Jane Pearson, Esq.; Christopher M. Alston, Esq., and Terrance
Keenan, Esq., serve as the Committee's attorneys.


NEOGENIX ONCOLOGY: Law Firms Using Barred Defense, Court Told
-------------------------------------------------------------
Law360 reported that Nixon Peabody LLP and Mintz Levin Cohn Ferris
Glovsky & Popeo PC cannot kill a malpractice suit by saying the
plaintiff is as guilty as the law firms in failing to stop a former
executive's alleged illegal fundraising because applicable state
laws prohibit the defense, now-bankrupt biotech company Neogenix
Oncology Inc. argued.

According to the report, Neogenix countered a December motion to
dismiss by the law firms, saying their argument -- under a legal
doctrine called in pari delicto -- that the company benefited from
a former executive's illegal fundraising.

As previously reported by The Troubled Company Reporter, Nixon
Peabody LLP, Mintz Levin Cohn Ferris Glovsky and Popeo PC, and
former Neogenix executives filed motions urging the dismissal of a
lawsuit alleging breaches of fiduciary duty and legal malpractice
and implicating them in the now-bankrupt biotech company's
downfall.

Nixon Peabody and Mintz Levin argued that Neogenix's suit -- which
accuses former Chief Financial Officer Peter Gordon of paying
commissions to individuals and firms for their sales of Neogenix
stock, even though some of them weren't licensed to sell securities
-- fails to state a claim.

The complaint alleges that Sam Feigin and Mark Kass, Mintz Levin
attorneys who represented Neogenix, knew that Gordon's finder
payments were illegal but hid the information from the company,
the
report related.  In November 2008, Feigin and Kass left Mintz and
joined Nixon Peabody, where they continued to represent Neogenix
and maintained the “cover-up,” the report further
related.

The case is Neogenix Oncology Inc. v. Gordon et al., case number
2:14-cv-04427, in the U.S. District Court for the Eastern District
of New York.

                     About Neogenix Oncology

Neogenix Oncology Inc. in Rockville, Maryland, filed a Chapter 11
petition (Bankr. D. Md. Case No. 12-23557) on July 23, 2012, in
Greenbelt with a deal to sell the assets to Precision Biologics
Inc., absent higher and better offers.

Founded in December 2003, Neogenix is a clinical stage, pre-
revenue generating, biotechnology company focused on developing
therapeutic and diagnostic products for the early detection and
treatment of cancer.  Neogenix, which has 10 employees, says it
its approach and portfolio of three unique monoclonal antibody
therapeutics -- mAb -- hold the potential for novel and targeted
therapeutics and diagnostics for the treatment of a broad range of
tumor malignancies.

Thomas J. McKee, Jr., Esq., at Greenberg Traurig, LLP, in McLean,
Virginia, serves as counsel.  Kurtzman Carson Consultants LLC is
the claims and notice agent.

The Debtor estimated assets of $10 million to $50 million and
debts of $1 million to $10 million.

The U.S. Trustee for Region 4 has appointed seven members to the
committee of equity security holders.  Sands Anderson PC
represents
the Official Committee of Equity Security Holders.  The Committee
tapped FTI Consulting, Inc., as its financial advisor.


NPS PHARMACEUTICALS: Faces 5 Add'l Suits Over Proposed Merger
-------------------------------------------------------------
NPS Pharmaceuticals, Inc., disclosed in amended tender offer
statement filed with the U.S. Securities and Exchange Commission
that five putative class action lawsuits challenging the
transactions contemplated by the Merger Agreement, were filed by
purported NPS stockholders, in the Delaware Court of Chancery
against various combinations of NPS, the members of the NPS Board,
Shire, SPHIL and Purchaser.  The actions are captioned Bragger v.
NPS Pharmaceuticals, Inc. et al., Case No. 10553-VCN, Grimaldi v.
NPS Pharmaceuticals, Inc. et al., Case No. 10563-VCN, Goldstein v.
NPS Pharmaceuticals, Inc., et al., Case No. 10577-VCN, Mantler v.
NPS Pharmaceuticals, Inc. et al., Case No. 10580-VCN and Lyons v.
Tombros, et al., Case No. 10590-VCN.

The Actions generally allege, among other things, that the NPS
Board breached its fiduciary duties to NPS's stockholders, that the
corporate defendants aided and abetted those breaches, by engaging
in a flawed sales process, agreeing to a transaction price that
does not adequately compensate stockholders and agreeing to certain
deal protection provisions in the Merger Agreement that the
plaintiff alleges impede or preclude a potential topping bid, and
that certain disclosures in the Schedule 14D-9 concerning the
transactions contemplated by the Merger Agreement are materially
misleading or incomplete.  The complaints seek, among other things,
to enjoin the Defendants from consummating the transactions
contemplated by the Merger Agreement, damages, and an award of
attorneys' fees and costs.

Pursuant to an order granted on Feb. 2, 2015, by the Court of
Chancery of the State of Delaware, the Actions were consolidated
into one action captioned In Re NPS Pharmaceuticals Stockholders
Litigation, C.A. No. 10553-VCN.  The Consolidation Order applies to
any future-filed actions relating to the subject matter of the
Consolidated Action.  On Feb. 2, 2015, the plaintiffs in the
Consolidated Action filed a consolidated class action complaint,
naming as defendants NPS, the members of the NPS Board, SPHIL and
Purchaser.  The Consolidated Complaint generally alleges that the
individual director defendants breached their fiduciary duties to
NPS's stockholders by approving the Merger Agreement because the
merger consideration is unfair, certain terms of the Merger
Agreement are unfair, the individual defendants are financially
interested in the Merger and certain disclosures in the Schedule
14D-9 concerning the transactions contemplated by the Merger
Agreement are materially misleading or incomplete.  The
Consolidated Complaint further alleges that the corporate
defendants aided and abetted these alleged breaches of fiduciary
duty.  The Consolidated Action seeks, among other remedies, to
enjoin the transactions contemplated by the Merger Agreement, or in
the event that an injunction is not awarded, unspecified money
damages, costs and attorney's fees.

On Feb. 6, 2015, the parties to the Consolidated Action entered
into a memorandum of understanding setting forth the terms of a
settlement of the Consolidated Action.  Pursuant to the terms of
the MOU, and without agreeing that any of the claims in the
Consolidated Action have merit or that such supplemental
disclosures were required under any applicable statute, rule,
regulation or law, NPS has issued the supplemental disclosures
contained in Amendment No. 4 to the Schedule 14D-9 filed on
Feb. 6, 2015.  Also pursuant to the terms of the MOU, the parties
expect to execute a stipulation of settlement, which will be
subject to approval by the Court of Chancery of the State of
Delaware following notice to NPS's stockholders.

On Jan. 23, 2015, Shire plc offered to purchase all outstanding
shares of common stock, par value $0.001 per share, of NPS
Pharmaceuticals, Inc., for $46.00 per share, net to the seller in
cash, without interest and less any required withholding taxes.

                     About NPS Pharmaceuticals

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

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

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



OFFSHORE DRILLING: S&P Affirms 'BB' CCR & Revises Outlook to Neg.
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on Offshore Drilling Holding S.A. (ODH) and revised
the outlook to negative from stable.  S&P also affirmed the 'BB'
issue-level rating on the company's $950 million senior secured
notes due 2020, and kept its recovery rating on the notes at '3'.

The outlook revision on ODH reflects S&P's view of decreasing
headroom in credit metrics as a result of the severe decline in oil
prices.  The decline in prices will likely lead oil companies
across the globe to significantly reduce exploration and production
(E&P) capital spending in 2015 and 2016. Petroleos Mexicanos(Pemex;
foreign currency: BBB+/Stable/--), ODH's only client, has announced
budget cuts for $4.2 billion or about 11.5%.  As a consequence,
S&P expects Pemex to reduce its capital spending, which, it
believes, will pressure Pemex service providers and day-rates for
ODH's vessels.  S&P also expects either shorter term charter
agreements or extensions to the existing ones, which could result
in a potential revision of day rates if oil prices rebound.
However, this could lead to shorter contract timeframe, which
increases recontracting risk.

"The outlook revision also incorporates our updated oil price
assumptions in which we revised WTI prices to $50-$60 per barrel
for 2015-2016 from $65-$70," said Standard & Poor's credit analyst
Maria del Sol Gonzalez.  S&P still expects some improvement in 2016
and thereafter, as oil companies are curbing production of
high-cost wells and postponing new capital spending, although
OPEC's future stance is uncertain.  S&P's assumptions for 2017 and
beyond expect oil prices to recover to $75/barrel (bbl).



ONE SOURCE: Files Schedules of Assets and Liabilities
-----------------------------------------------------
One Source Industrial Holdings, LLC, filed with the U.S. Bankruptcy
Court for the Northern District of Texas its schedules of assets
and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $12,036,897
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $8,567,377
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $505,187
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                        $6,817,499
                                 -----------      -----------
        Total                    $12,036,897      $15,890,063

One Source Industrial LLC also filed schedules disclosing $361,782
in assets and $12,009,718 in liabilities.

Copies of the schedules are available for free at:

         http://bankrupt.com/misc/ONESOURCE_74_sal.pdf
         http://bankrupt.com/misc/ONESOURCE_79_sal.pdf

The Debtors sought and obtained a Feb. 2 extension of the deadline
to file schedules of assets and liabilities and statements of
financial affairs.

                    About One Source Industrial

One Source Industrial Holdings, LLC, and One Source Industrial LLC
are both limited liability companies that are part of a corporate
family of affiliated companies.

One Source Industrial Holdings holds equipment utilized by various
related entities which provide rental equipment and industrial
services to businesses in the oil and gas, refining, manufacturing,
pipeline, shipping, and construction industries.  The types of
equipment possessed by One Source include, e.g., hazardous material
transportation vehicles, frac tanks, tank trailers, barrel mix tank
and vacuum tankers, air machines, and waste and other industrial
boxes and tanks.  Industrial provides executive management,
accounting, and overhead services for Holdings.

One Source Holdings sought Chapter 11 bankruptcy protection (Bankr.
N.D. Tex. Case No. 14-44996) in Ft. Worth, Texas, on
Dec. 16, 2014.  One Industrial sought Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Case No. 15-400038) on Jan. 4, 2015.

Holdings' case is assigned to Judge Russell F. Nelms.

The Debtors are represented by J. Robert Forshey, Esq., and Suzanne
K. Rosen, Esq., at Forshey & Prostok, LLP, in Ft. Worth, Texas.

No creditor's committee has been appointed in the cases.  Further,
no trustee or examiner has been requested or appointed in the
Debtors' Chapter 11 cases.



PANDA TEMPLE: S&P Assigns Preliminary 'B' Rating on $405MM Debt
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its preliminary
'B' credit rating to Texas-based power project Panda Temple Power
LLC's $405 million debt.  The outlook is stable.

S&P also assigned a preliminary '2' recovery rating to the term
loan B and related senior secured credit facilities.

Temple is a special-purpose, bankruptcy-remote entity established
to build and operate the Panda Temple Power Plant, an approximately
758 megawatt natural gas-fired, combined-cycle generation facility
in Temple, Texas, about 130 miles south of Dallas. Construction
concluded in July 2014.  Temple now dispatches into the north
subregion of the Electric Reliability Council of Texas (ERCOT)
market and abuts the Panda Temple II Power plant, which should come
on line in Summer 2015.  Panda Power Funds and a consortium of
other investors own the equity in the project.

Temple will service its debt from revenues generated by selling
electricity into ERCOT.  S&P expects revenues to be volatile
throughout the project's life, although financial hedges create a
floor for cash flow during the next few years.

"The stable outlook on the debt rating reflects our view that the
project has sufficient liquidity to tide it over during 2015 and
that cash flow, which we expect to be volatile, will still
adequately cover debt service throughout the debt's tenor," said
Standard & Poor's credit analyst Michael Ferguson.  A downgrade is
possible if S&P's expectation of debt at maturity changes to
greater than $350 per kW or if DSCRs stay low through 2016.  This
would likely result from considerably lower-than-expected spark
spreads, consistently poor operational performance, or higher
operating and maintenance costs than S&P currently expects.

An upgrade is currently unlikely but could occur if the project
mitigates its exposure to merchant market risk by entering into new
and effective hedging agreements that increase cash flow
predictability, or if S&P's assessment of the ERCOT market changes
such that S&P foresees energy prices in that market rising and
stabilizing for an extended period.  This would likely result in
leverage under $100 per kW at maturity.



PAUL BILZERIAN: Claims Bar Date Set for March 26
------------------------------------------------
The United states District Court for the District of Columbia
ordered any and all persons or entities who seek to assert a claim
(a) against The Securities Exchange Commission v. Paul A. Bilzerian
et al., Civil Action No. 89-1854 (SSH) Receivership Estate or any
funds held by the Receivership Estate or b) Deborah R. Meshulam, in
her capacity as the receiver of the Receivership Estate, her
attorneys, agents or any else acting on her behalf or employed by
the Receiver to assist her, must do so by, filing a claim with the
Receiver by March 26, 2015.  Any claim must be in writing and sent
to:

  Deborah R. Meshulam
  Receiver for the Bilzerian Receivership Estate
  Attention: Sara Z. Moghadam
  DLA Piper LLP (US)
  500 8th Street, NW
  Washington, D.C. 20004

All claims must be received no later than 5:00 p.m. E.S.T., on
March 26, 2015.


PERFORMANCE TRANSPORTATION: Trucking Cos. Fight Certification Bid
-----------------------------------------------------------------
Law360 reported that a Delaware federal judge was urged by Navistar
International Corp. and other trucking companies to deny class
certification to a suit filed by a vehicle transporter's Chapter 7
trustee over an alleged conspiracy to maintain Eaton Corp.'s large
truck transmission monopoly, with the group saying the class
doesn't include direct purchasers.

According to the report, the group of trucking giants, which also
includes Daimler Trucks North America LLC, Mack Trucks Inc., Volvo
Trucks North America and more, said in a brief unsealed that the
named plaintiffs in the antitrust lawsuit.

                 About Performance Transportation

Based in Wayne, Michigan, Performance Transportation Services,
Inc. provided new and use vehicle delivery services in the United
States.  Performance Transportation has facilities in the United
States and Canada.

The Company and its debtor-affiliates filed for Chapter 11
bankruptcy (Bankr. W.D.N.Y. Case No. 07-04746 thru 07-04760) on
Nov. 19, 2007.  When the Debtors filed for protection from their
creditors, they estimated more than $100 million each in assets
and debts.

The Court converted the Debtors' Chapter 11 cases to cases under
Chapter 7 of the Bankruptcy Code, effective as of July 14, 2008.
Mark S. Wallach was appointed as trustee.  Lawyers at Bond,
Schoeneck & King, PLLC, Jones Day, and Hodgson Russ LLP, represent
the Debtors as counsel.

The Debtors first filed for Chapter 11 on Jan. 25, 2006, and the
consolidated plan was confirmed on Dec. 21, 2006.


PHILADELPHIA SCHOOL: Fitch Rates Series 2015 Bonds 'BB-'
--------------------------------------------------------
Fitch Ratings has assigned an 'A+' rating to the following bonds
issued for the school district of Philadelphia (the district) based
on the Pennsylvania School Credit Enhancement Direct-Pay Intercept
Program:

   -- $63.745 million State Public School Building Authority
      (Commonwealth of Pennsylvania) (the authority) school lease
      revenue refunding bonds (the school district of Philadelphia

      project) series 2015A.

Additionally, Fitch Ratings has assigned an 'A+' rating to the
following bonds issued for the district based on the Pennsylvania
School Credit Enhancement Intercept Program:

   -- $46.15 million school district of Philadelphia general
      obligation (GO) bonds series A of 2015;

   -- $29.165 million school district of Philadelphia GO refunding

      bonds series B of 2015;

   -- $45.12 million school district of Philadelphia GO refunding
      bonds series C of 2015;

   -- $130.175 million school district of Philadelphia GO
      refunding bonds series D of 2015.

The bonds are scheduled to be sold via negotiated sale the week of
Feb. 16.  The series D bonds will have a delayed delivery date.
Proceeds will be used to refund certain outstanding bonds and pay
for various capital projects.

Concurrently, Fitch assigns an underlying rating of 'BB-' to the
series 2015 bonds and affirms this rating on approximately $3
billion of the district and authority's outstanding bonds.

The Rating Outlooks for the commonwealth's programs are Stable,
reflecting the Stable Outlook on the commonwealth's GO bonds.  The
Rating Outlooks for the underlying district and authority ratings
remain Negative.

SECURITY

The bonds issued by the authority are special limited obligations
of the authority.  For these bonds, payments from the State
Treasurer are made directly to the Trustee on the last Thursday of
April and October of each year, in advance of debt service payments
on June 1 and Dec. 1.  The district has covenanted that it will
include in its budget appropriations for payments to the authority.
For these payments, the district irrevocably has pledged its full
faith, credit and taxing power.  All of the authority and GO bonds
are secured by protections under the Pennsylvania School Credit
Enhancement Law as well as the district's full faith and credit and
taxing power.

KEY RATING DRIVERS

WEAKENED UNDERLYING CREDIT PROFILE: The district continues to
experience weakening to its already tenuous financial position.

UNCERTAIN RECOVERY PROSPECTS: The district's plans to achieve
structural balance rely heavily on its continued ability to
implement dramatic expenditures savings, particularly gaining
significant concessions from the teacher's union.  Fitch believes
the level of cooperation needed to fully realize these plans will
likely not be forthcoming, resulting in continued negative
operations and increased accumulated deficits.

RAPID CHARTER SCHOOL GROWTH: The number of students enrolled in
charter schools has almost doubled in the past four years.  Further
growth is expected, increasing the challenges of the district's
financial environment.

LIMITED ABILITY TO RAISE REVENUE: As is typical for school
districts, the largest source of funding is from the state. Raising
locally generated revenue requires city council approval. The
state's increasingly challenged financial position limits the
likelihood of increased state aid unless the state secures new
revenues sources to stabilize its finances.  The recent addition of
a dedicated cigarette tax was a positive step.

ELEVATED DEBT LEVELS: The district's overall debt burden is high
relative to the tax base, although annual debt service expenditures
consume a moderate share of the district's operating budget.
Payments for other long-term liabilities are moderate but growing.

STABLE SERVICE AREA: Demographic and economic indicators are weak,
although the city's economy is anchored by the presence of several
large healthcare and higher education institutions.

SOUND AUTHORITY INTERCEPT PROGRAM: The enhanced, programmatic 'A+'
rating for the authority bonds is based on the Pennsylvania School
Credit Enhancement Direct-Pay Intercept Program.  This program
requires the withholding of state appropriations and their direct
payment to bondholders or their paying agents.

SOLID COVERAGE FOR GO BOND INTERCEPT PROGRAM: The enhanced,
programmatic 'A+' rating for the GO bonds is based on the
Pennsylvania School Credit Enhancement Intercept Program under
state law.  This program requires the state to pay a sinking fund
deficiency from any unpaid state appropriation to the district upon
notification of a deficiency 15 days prior to a debt service
payment date.  For fiscal 2014, budgeted commonwealth subsidies to
the district covered annual debt service obligations, including
short-term debt, by 2.38 times (x).  This exceeds the 1.25x
required for eligibility under Fitch's criteria for the use of this
intercept program's rating.

RATING SENSITIVITIES

FURTHER FINANCIAL DETERIORATION: Additional reductions in financial
flexibility over the medium term due to an inability to make at
least modest progress in stemming operating deficits would lead to
a further downgrade.

CREDIT PROFILE

LARGE URBAN DISTRICT WITH WEAK SOCIOECONOMICS

The Philadelphia School District is the nation's eighth largest
school district and the largest in the commonwealth, with fiscal
year 2015 enrollment of 207,000 students, including charter school
students.  District enrollment has shown growth in recent years
primarily because charter school enrollment continues to escalate
at a healthy rate.  The current population of 64,000 is almost
double the fiscal 2010 level.  Non-charter school enrollment has
declined fairly rapidly.  The district is overseen by an appointed
School Reform Commission (SRC).

As both a city and county and with an estimated population of
almost 1.5 million residents, Philadelphia benefits from its role
as a regional economic center with a stable employment base
weighted in higher education and health care sectors.  Led by the
University of Pennsylvania, Jefferson Health System and Temple
University, the city is home to several large colleges and
universities and is anchored by multiple hospitals and health
systems.

Though well down from past levels, the city's November 2014
unemployment rate of 6.4% remains high as does the poverty rate at
over 26% of the population, though unemployment is well down from
past highs.  Income levels on both a per capita and median
household level are well below the state and national averages.

DEFICIT FINANCING OFFSETS LARGE FISCAL 2013 OPERATING DEFICIT

Fiscal 2013 results showed an operating deficit of almost $250
million across the district's three operating funds.  The deficit
was driven largely by increases in debt service payments following
fiscal 2012 restructurings and payments to charter schools.
Increased charter school enrollment has caused financial pressure
for the district, and Fitch expects this trend to continue.

Results would have been even weaker without a favorable outcome in
the district's negotiations with its blue collar unions.  The
district bridged the $250 million operating gap with the issuance
of deficit bonds.  The $300 million in proceeds yielded a surplus
of $59 million but were not sufficient to eliminate the accumulated
unrestricted fund deficit, which stood at -$63 million or -2% of
expenditures at fiscal year-end.

FISCAL 2014 CONTINUES NEGATIVE OPERATIONS

Preliminary fiscal 2014 results show a further operating deficit,
with an estimated $55 million decline in fund balance, worse than
the budgeted $39 million deficit and reducing the unrestricted fund
balance to -$110 million or -4% of expenditures.  The district
closed 24 schools and laid off 3,800 employees before hiring back
almost 1,900 when some funding was restored.  The deficit was
exacerbated by further increases in payments to charter schools and
revenues from building sales coming in under budget.

PLAN DEPENDS ON LABOR SAVINGS AND OUTSIDE AID

The district's fiscal 2015 budget was balanced through a number of
measures.  The district laid off over 300 employees.  A one percent
sales tax previously directed to the city was extended, with the
first $120 million going to the district, and a $2 per pack
cigarette tax within the city was enacted several months into the
fiscal year, estimated to generate $49 million in fiscal 2015.
District officials note that these efforts bring them to a bare
minimum service level, and are seeking significant additional
funding to provide better educational opportunities.  For the
second consecutive year the state advanced the district some of its
annual funding, helping the district to bridge its cash flow gap
and reduce its short-term borrowing needs.

The district reached an agreement in 2012 with the Service
Employees International Union (SEIU) that provides $100 million in
savings over the four year life of the contract, largely from an
approximately 10% reduction in wages.  In 2014 the district also
reached agreement with its administrators for a new contract that
includes 12 - 16% pay cuts, a shorter work year, and increased
health care contributions, netting $20 million a year in savings.

The district's contract with the Philadelphia Federation of
Teachers (PFT) expired in August 2013.  For some time, the district
was requesting large wage cuts similar to those agreed to by SEIU,
but the two sides could not reach an agreement.  PFT is not legally
permitted to strike.  In October, 2014, the SRC cancelled the
union's existing, expired contract and attempted to impose changes
in health care benefits, require employee contributions to health
care benefits, and eliminate an existing health and welfare fund.
This would have saved the district approximately $50 million a
year.  The Commonwealth Court recently ruled that the SRC's actions
were not legal.  The SRC is currently evaluating whether to appeal
the ruling.

ELEVATED DEBT LEVELS

Overall debt ratios are above average at over $4,500 per capita and
a high 6.1% of market value.  Amortization is slightly below
average at approximately 48% in 10 years.

The district will be faced with an almost doubling of pension costs
from fiscal 2015 to fiscal 2019.  The district is hoping for relief
as the state may pursue pension reform.  The district participates
in a state-sponsored plan with approximately 67% of employer
contributions made by the state.  The plan is currently
approximately 60% funded using a Fitch-adjusted 7% return level,
and the funding level has been deteriorating as the state has
consistently underfunded its annual required contribution (ARC).
The increased costs are partially caused by the plan shifting
towards full funding of the ARC by 2017, which Fitch views
favorably.  Other post-employment benefits are minimal.  Carrying
costs are a moderate 16% of governmental spending, though this is
expected to grow with increased pension costs.



PLACENTIA, CA: S&P Lowers Rating on 2003 COPs to 'BB'
-----------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating and
underlying rating (SPUR) to 'BB' from 'BB+' on Placentia Public
Finance Authority, Calif.'s series 2003 certificates of
participation, issued on behalf of the City of Placentia.  The
outlook is stable.

"The lowered ratings reflect our view of the city's expectation
that its auditor will issue a going concern opinion for fiscal
2014," said Standard & Poor's credit analyst Sarah Sullivant.

The auditor's opinion follows a persistent structural imbalance
that has eroded the city's financial flexibility and is projected
to grow larger in the next two fiscal years.  Officials have
adopted no clear plan to take corrective action, despite several
opportunities to do so, and management is currently unable to
estimate how long the city will be able to meet its obligations.

"While we believe that the general fund portion of its
appropriation-backed obligations represented less than half of 1%
of operating expenditures in fiscal 2013, the ratings primarily
reflect our view of the city's uncertain financial condition and
failure to address persistent imbalances, which we believe could
put pressure on its ability and willingness to meet its financial
commitments in the future," continued Ms. Sullivant.



PROFESSIONAL AVIATION: Claims Bar Date Set for July 31
------------------------------------------------------
Creditors of Professional Aviation Insurance Reciprocal or ProAir
Risk Retention Group must file their proofs of claim with Nevada
Insurance Commissioner Scott J. Kipper, permanent receiver of the
Companies, no later than July 31, 2015.

All proofs of claim must be filed at:

  The Regulatory Services Group
  P.O. Box 26894
  San Francisco, CA 94126
  Tel: 415-676-2021
  Email: infor@rsgca.org


PROGRESSIVE LIFE: Case Summary & 9 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Progressive Life Giving Word Cathedral
           aka Progressive Ministries
        4500 Frontage Road
        Hillside, IL 60162

Case No.: 15-04271

Chapter 11 Petition Date: February 10, 2015

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

Judge: Hon. Jack B. Schmetterer

Debtor's Counsel: Richard L Hirsh, Esq.
                  RICHARD L HIRSH, PC
                  1500 Eisenhower Lane, Suite 800
                  Lisle, IL 60532
                  Tel: 630-434-2600
                  Fax: 630 434-2626
                  Email: richala@sbcglobal.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stephon Alford, business operations
manager.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/ilnb15-04271.pdf


PROMMIS HOLDINGS: Huron Replies to Motion to Reinstate Chapter 11
-----------------------------------------------------------------
Huron Consulting Services, LLC, as Liquidating Trustee for the
Prommis Liquidating Trust, successor to Prommis Holdings, LLC,
objects to Mr. Edward C. Tidwell's motion to vacate judgment and/or
orders and reinstate the Debtors' Chapter 11 petition.

According to Huron, Mr. Tidwell's actions in the Court represent
his latest attempt to continue litigation against debtor EC Closing
Corp. and others based on a common set of operative facts.  By Mr.
Tidwell's own count, his Complaint filed in this Court represents
his eighth lawsuit regarding the Real Property.  The Motion to
Vacate and the Request should be denied.

Mr. Tidwell asks the Court to revoke the Debtors' discharge but
lacks any basis in fact and law, as the Debtors' liquidating plan
did not include a discharge.  Therefore, the additional
request that the Court schedule a hearing to "determine Debtors'
dischargeability" similarly lacks any basis in fact and law.  This

relief, therefore, should be denied.

Mr. Tidwell also asks the Court to vacate the Confirmation Order,
contending that the relief is warranted because of "newly
discovered evidence."  In support of the Motion to Vacate, Mr.
Tidwell simply rehashes the same factual allegations made in other

courts, including in the 2013 Action.  In addition, in connection
with the Motion to Vacate, Mr. Tidwell filed the Request, asking
that the Court take judicial notice of a set of mainly publicly
filed documents dating as far back as 1982.  There is no plausible

basis upon which the Movant can argue that these documents are
"newly discovered vidence" that would warrant vacating the
Confirmation Order.  Indeed, the Motion to Vacate contains no
explanation as to why these documents are "newly discovered
evidence."  Also, even if the evidence were "newly discovered,"
that would be insufficient.  Mr. Tidwell would have to show that
such "newly discovered evidence" could not have been discovered
before trial through the exercise of reasonable diligence.  Mr.
Tidwell has made no allegations to support his burden to do so.

The Motion to Vacate does little more than recite conclusory
allegations, unrelated to these bankruptcy cases that were
rejected in other litigation.  Moreover, none of the evidence that

Mr. Tidwell cites is "material" to the question of whether the
Plan should have been confirmed.  Mr. Tidwell's allegations
regarding the foreclosure on his former home have no bearing on
the Confirmation Order.  Nothing that Mr. Tidwell alleges in the
Motion to Vacate could have affected the outcome even if he had
raised them when the Court was considering entry of the
Confirmation Order.

Mr. Tidwell has not filed a proof of claim in any of the Debtors
jointly administered cases.  Accordingly, under no circumstances
can he have any monetary recovery against any of the Debtors.

Huron Consulting is represented by:

         Womble Carlyle Sandridge Rice, LLP
         Thomas M. Horan, Esq.
         Steven K. Kortanek, Esq.
         222 Delaware Avenue, Suite 1501
         Wilmington, DE 19801
         Tel: (302) 252-4320
         Fax: (302) 252-4330
         E-mail: skortanek@wcsr.com
                 thoran@wcsr.com
                 erjohnson@wcsr.com

J.P. Morgan Chase Bank N.A. has filed a joinder to the objection
filed by Huron Consulting and asked that Mr. Tidwell's motion be
denied.

                     About Prommis Holdings

Atlanta, Georgia-based Prommis Holdings, LLC, and its 10
affiliates delivered their petitions for voluntary bankruptcy
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case
No. 13-10551) on March 18, 2013.

Three subsidiaries -- EC Closing Corp., EC Closing Corp. of
Washington, and EC Posting Closing Corp. -- sought Chapter 11
protection (Bankr. D. Del. Case Nos. 13-11619 to 13-11621) on
June 25, 2013.

Prommis Holdings estimated assets between $10 million and $50
million and debts between $50 million and $100 million.  Prommis
Solutions, LLC, a debtor-affiliate disclosed $18,488,803 in assets
and $260,232,313 in liabilities as of the Chapter 11 filing.

Judge Brendan Linehan Shannon presides over the case.  Steven K.
Kortanek, Esq., at Womble Carlyle Sandridge & Rice, LLP, serves as
the Debtors' counsel, while David S. Meyer, Esq., at Kirkland &
Ellis LLP serves as co-counsel.  The Debtors' restructuring
advisor is Huron Consulting Services, LLC.  Donlin Recano &
Company, Inc., is the Debtors' claims agent.

According to the Disclosure Statement and Plan of Liquidation
dated Nov. 12, 2013, the Plan contemplates the liquidation of the
Debtors' remaining assets and distribution to creditors.  The Plan
designates for the Company 9 classes of claims and interests.

The Official Committee of Unsecured Creditors tapped Saul Ewing
LLP and Hahn & Hessen LLP as its co-counsels, and FTI Consulting,
Inc., as its financial advisor.


PROSPECT MANUFACTURING: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Prospect Manufacturing, LLC
        6451 South Ash
        Tempe, AZ 85283

Case No.: 15-01246

Chapter 11 Petition Date: February 10, 2015

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

Judge: Hon. Brenda K. Martin

Debtor's Counsel: Michael W. Carmel, Esq.
                  MICHAEL W. CARMEL, LTD.
                  80 E. Columbus Ave.
                  Phoenix, AZ 85012-4965
                  Tel: 602-264-4965
                  Fax: 602-277-0144
                  Email: michael@mcarmellaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Scott Mohnach, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-01246.pdf


QE2 ACQUISITION: Receives Default Notice From Senior Lender
-----------------------------------------------------------
QE2 Acquisition Corp. on Feb. 11 disclosed it has received notice
that it is in default under its loan agreement from its senior
lender.  QE2 is working diligently with the senior lender to
rectify such default and expects to provide a proposal to the
senior lender to remedy the covenant defaults in the near term. QE2
will provide an update when more information becomes available.

                 About QE2 Acquisition Corp.

QE2 -- http://www.qe2corp.com-- is a forward thinking,
Alberta-founded firm that acquires and grows well-managed,
profitable, asset-backed, Alberta-based businesses in the
infrastructure and utility service sectors.  QE2's growth strategy
is a mergers and acquisitions program which leverages the synergies
that can be achieved by vertical and horizontal integration.


QUALITY DISTRIBUTION: Expects $243 Million in Revenue for Q4
------------------------------------------------------------
Quality Distribution, Inc., expects that for the three-month period
ended Dec. 31, 2014, total revenue will be approximately $243
million, operating income to be within the range of $10.4 million
to $10.8 million, adjusted EBITDA to be within the range of $20.4
million to $20.8 million, and adjusted net income per
diluted share to be within the range of $0.17 to $0.18.

Estimated adjusted EBITDA and estimated adjusted net income
per diluted share for the three-month period ended Dec. 31,
2014, primarily excludes cash and non-cash pre-tax
reorganization costs within the Energy Logistics business of
approximately $3.8 million.  Reconciliations of estimated net
income to estimated adjusted net income and estimated
operating income to estimated adjusted EBITDA are included in
the financial exhibits below.

For the three-month period ended Dec. 31, 2014, Quality expects
revenue from its Chemical Logistics business to be approximately
$164 million, revenue from its Energy Logistics business to be
approximately $41 million and revenue from its Intermodal business
to be approximately $38 million.

Total debt at Dec. 31, 2014, was $351 million.  Availability
under the ABL Facility was approximately $62 million at
Dec. 31, 2014, and the outstanding borrowings under the ABL
Facility were approximately $151 million.  At Dec. 31, 2014,
the Company's total net debt to adjusted EBITDA ratio is
expected to be approximately 4.1x.

For the three-month period ended Dec. 31, 2014, gross capital
expenditures were $10.5 million and sales of equipment were
$13.2 million.  For fiscal year 2014, capital expenditures,
net of proceeds from asset sales, were $6 million.

"We expect our fourth quarter results to be in line with the
expectations we shared during our third quarter conference call,"
stated Gary Enzor, Chairman and chief executive officer.  "Revenues
were strong in the fourth quarter, and we expect both adjusted
operating income and adjusted EBITDA, on a consolidated basis, to
be up versus the prior year quarter.  Our Chemical Logistics and
Intermodal businesses delivered solid fourth quarter results and we
remain optimistic about these businesses moving forward."

"At Energy Logistics, the decline in commodity prices within the
frac shale industry has created some uncertainty in our business,
although we have not seen a significant decline in volumes," Mr.
Enzor continued.  "Our team is focusing on controllable areas such
as improving customer service levels and asset efficiency, as well
as reducing capital outlays and overhead costs."

For the first quarter of 2015, Quality expects adjusted net income
per diluted share to be in the range of $0.11 to $0.16.  For the
fiscal year 2015, the Company expects adjusted net income per
diluted share to be in the range of $0.77 to $0.87.  These
estimates assume a 39% tax rate, and exclude any impacts from
non-operating items and costs related to any potential debt
refinancing activity.  The Company expects its free cash flow to be
in the range of $50 to $55 million.

Quality intends to release its fourth quarter and fiscal year 2014
financial results after the market closes on Wednesday, Feb. 25,
2015.  Quality will host a conference call for analysts and
investors to discuss these results on Thursday, Feb. 26, 2015, at
10:00 a.m. Eastern Standard Time.  The toll free dial-in number is
888-778-9064; the toll number is 913-312-1427; the passcode is
1985088.  A replay of the call will be available through March 28,
2015, by dialing 888-203-1112; the passcode is 1985088. A webcast
of the conference call may be accessed in the Investor Relations
section of Quality's Web site.

                    About Quality Distribution

Quality Distribution, LLC, and its parent holding company, Quality
Distribution, Inc., are headquartered in Tampa, Florida.  The
company is a transporter of bulk liquid and dry bulk chemicals.
The company's 2010 revenues are approximately $686 million.
Apollo Management, L.P., owns roughly 30 percent of the common
stock of Quality Distribution, Inc.

Quality Distribution reported a net loss of $42.03 million on
$930 million of total operating revenues for the year ended
Dec. 31, 2013, as compared with net income of $50.07 million on
$842 million of total operating revenues in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $440 million
in total assets, $470.01 million in total liabilities and a $30.4
million total shareholders' deficit.

                        Bankruptcy Warning

The Company had consolidated indebtedness and capital lease
obligations, including current maturities, of $383.3 million as of
Dec. 31, 2013.  The Company must make regular payments under the
ABL Facility, including the $17.5 million senior secured term loan
facility that was fully funded on July 15, 2013, and the Company's
capital leases and semi-annual interest payments under its 2018
Notes.

"The ABL Facility matures August 2016.  Obligations under the Term
Loan mature on June 14, 2016 or the earlier date on which the ABL
Facility terminates.  The maturity date of the ABL Facility,
including the Term Loan, may be accelerated if we default on our
obligations.  If the maturity of the ABL Facility and/or such
other debt is accelerated, we may not have sufficient cash on hand
to repay the ABL Facility and/or such other debt or be able to
refinance the ABL Facility and/or such other debt on acceptable
terms, or at all.  The failure to repay or refinance the ABL
Facility and/or such other debt at maturity would have a material
adverse effect on our business and financial condition, would
cause substantial liquidity problems and may result in the
bankruptcy of us and/or our subsidiaries.  Any actual or potential
bankruptcy or liquidity crisis may materially harm our
relationships with our customers, suppliers and independent
affiliates," the Company said in the Annual Report for the year
ended Dec. 31, 2013.

                           *    *     *

As reported in the TCR on June 28, 2013, Moody's Investors Service
upgraded Quality Distribution, LLC's Corporate Family Rating to
'B2' from 'B3' and Probability of Default Rating to 'B2-PD' from
'B3-PD'.

The upgrade of Quality's CFR to 'B2' was largely driven by the
expectation that credit metrics will improve over the next twelve
to eighteen months, through a combination of EBITDA growth and
debt paydowns, to levels consistent with the 'B2' rating level.
The company is in the process of integrating the bolt-on
acquisitions made in its Energy Logistics business sector since
2011.


QUANTUM FUEL: Expects $12MM to $13MM Fourth Quarter Revenues
------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., expects to
report overall fourth quarter revenues of between $12 million and
$13 million.

Product sales for the fourth quarter are anticipated to
approximately double relative to the level reported for the third
quarter of 2014 due to strong customer demand for its natural gas
fuel storage systems.  The Company also anticipates that it will
report a robust product backlog of approximately $17.8 million at
Dec. 31, 2014, which is approximately $3 million higher than the
$14.8 million the Company reported for the end of the third
quarter.  The Company also expects to report a moderate improvement
in its loss from continuing operations for the fourth quarter as
compared to the third quarter which is driven primarily by
increased product revenues and improved product margins.  Finally,
the Company believes that overall revenues will grow approximately
40% to 50% in 2015 based on existing and anticipated orders from
its growing customer base and that related product margins will
continue to improve during this period.

"We continue to experience traction in the industry as we
effectively execute on our fuel storage systems strategy and we are
excited to finish the year with anticipated strong sequential
revenue growth and burgeoning order flow," said Brian Olson,
president and CEO of Quantum.  "We began the process of fully
implementing the systems strategy in the second half of 2014 and we
believe we will recognize more revenues from our systems during
this six-month period, basically right out of the gate, than we
recognized on stand-alone tank sales during the first half of 2014.
We understand that the market was and remains concerned about the
lost tank sales from a former key customer when we announced our
direction into storage systems, but we have in a very short period
demonstrated our ability to grow our customer base with our systems
strategy," concluded Mr. Olson.

In May 2014, Quantum announced its strategic direction to service
the heavy duty OEM market segment, in addition to other market
segments, with natural gas fuel storage systems.  During 2014,
Quantum brought to market its innovative, light-weight Q-RailLITE
and Q-CabLITE CNG storage modules which are integrated CNG fuel
systems for heavy-duty truck applications. Each storage module
contains Quantum's proprietary, ultra-light Q-Lite CNG storage
cylinders, which further minimizes weight and increases fuel
capacity.

The Company anticipates that it will finalize its results from
operations for the three and 12 month periods ended Dec. 31, 2014,
subject to the review and completion of the audit of the
twelve-month period ended Dec. 31, 2014, by the Company's auditors,
and hold a conference call to discuss its 2014 financial results in
early March.

                         About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel reported a net loss attributable to stockholders of
$23.04 million in 2013, a net loss attributable to stockholders of
$30.9 million in 2012 and a net loss attributable to common
stockholders of $38.5 million in 2011.


RESIDENTIAL CAPITAL: Mayer Brown DQ'd from Representing HSBC
------------------------------------------------------------
Law360 reported that a Minnesota federal judge has disqualified
Mayer Brown LLP from defending HSBC Finance Corp. in a lawsuit
brought by Residential Capital LLC successor Residential Funding
Co. LLC over alleged defective mortgage-backed securities, on the
grounds that Mayer Brown had a conflict of interest as ResCap's
former counsel.

According to the report, U.S. Magistrate Judge Janie S. Mayeron
shot down HSBC's contentions that Residential Funding had waived
its objections to Mayer Brown's representation of HSBC, pointing to
a phone call between the parties' counsel that had evidently caused
a misunderstanding.

The case is Residential Funding Company, LLC v. Decision One
Mortgage Company, LLC et al, Case No. 0:14-cv-01737 (D. Minn.),
before Judge Michael J. Davis.

                   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: Judge Denies Extension of Sale Closing Date
-----------------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that
U.S. Bankruptcy Judge Gloria Burns in New Jersey denied the request
of Glenn Straub's Polo North Country Club to extend the deadline by
which he must close the sale of Revel AC's assets.

As previously reported by The Troubled Company Reporter, Polo North
asked for an extension of the sale closing date, which was Feb. 9,
because numerous conditions to closing remain unresolved.  Polo
North said in court papers that before it 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.

The Journal said that while Judge Burns stopped short of fully
terminating the sale, the ruling follows a week of turbulence and
setbacks and likely means the deal can't be salvaged.

"Every party that has appeared before the court [today] has asked
the court not to grant the extension," Judge Burns said during the
Feb. 11 hearing.  "The contract speaks for itself; the time has
expired."

                          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.


SBRS INC: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------
Debtor: SBRS, Inc.
        1415 E. 17th Street, #204
        Santa Ana, CA 92705

Case No.: 15-10657

Chapter 11 Petition Date: February 10, 2015

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

Judge: Hon. Erithe A. Smith

Debtor's Counsel: Michael E Mahurin, Esq.
                  4206 Van Buren Place, Suite #3
                  Culver City, CA 90232
                  Tel: (310) 384-6974
                  Fax: (310) 531-7382
                  Email: mmahurin@theivyfirm.com

Total Assets: $1.81 million

Total Liabilities: $1.83 million

The petition was signed by Fred Erami, president.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb15-10657.pdf


SEAQUEST CORP: Execs Charged in C$75MM Bankruptcy Fraud
-------------------------------------------------------
The Royal Canadian Mounted Police (RCMP) GTA Financial Crime
Section on Jan. 30, 2015, charged five former executives of
Seaquest Corporation, Seaquest Capital Corporation, and its related
companies with Criminal Code as well as Bankruptcy and Insolvency
offenses.

In November 2011, SEAQUEST initiated bankruptcy proceedings in
order to obtain creditor protection from their investors as
SEAQUEST claimed they were unable to pay their creditors after
amassing a debt of C$75 million owed to approximately 70
creditors.

In February of 2012, the Office of the Superintendent of Bankruptcy
(OSB) referred the matter to the RCMP who launched an investigation
into SEAQUEST's activities. It is alleged that SEAQUEST collected
$92 million dollars from investors with the promise rates of
returns up to 36%. However, it is also alleged that the money was
not invested but instead put into a Ponzi scheme, where new
investor funds were used to pay old investors. The previous
investors were then convinced to re-invest those returns.

As a result of this investigation, the following individuals have
been charged under the Criminal Code (CC) with Fraud Over
C$5,000.00, Money Laundering, and Commission of offence for
Criminal Organization:

   * David Burns HOLDEN (52) of Richmond Hill
   * Rose/Rosa Rita HOLDEN (57) of Richmond Hill
   * Anthony Mario COSENTINO (67) of Toronto
   * Andrew GAUDET (43) of Oakville
   * Edmond Chin Ho SO (37) of Toronto

Additionally David and Rose HOLDEN have been charged with 3
Bankruptcy and Insolvency Act charges.

Their next court date is on March 2, 2015 at Old City Hall, and
that David Holden was scheduled to appear on Jan. 30 for a Show
Cause.

"It's important for the public to know that before investing in any
financial venture, they should do their due diligence and that the
higher the expected rate of return usually means a higher risk of
fraud" said Inspector Gairy of the RCMP GTA Financial Crime
Section.

The RCMP, the OSB, and in particular the OSB's Special
Investigation Units will continue to combine their efforts to
investigate allegations of criminal wrongdoing related to
bankruptcy and insolvency matters in order to protect the integrity
of the insolvency system in Canada.


SIRIUS INTERNATIONAL: Fitch Affirms 'BB+' Rating on $250MM Shares
-----------------------------------------------------------------
Fitch Ratings has affirmed all ratings of OneBeacon Insurance
Group, Ltd.'s (NYSE: OB) (OneBeacon) holding company and operating
subsidiaries.  Fitch has also revised the Rating Outlook to
Negative from Stable for the company's 'BBB+' Issuer Default Rating
(IDR) and 'A' Insurer Financial Strength (IFS) ratings.

Concurrently, Fitch has affirmed with a Stable Outlook the IDRs,
debt, and IFS ratings for White Mountains Insurance Group, Ltd.
(NYSE: WTM) (White Mountains), OneBeacon's parent with 75%
ownership, and Sirius International Insurance Group, Ltd.'s
subsidiaries (Sirius Group; 100% ownership by White Mountains).

KEY RATING DRIVERS

Fitch's Outlook revision to Negative from Stable for OneBeacon is
driven by the $90 million in adverse reserve development the
company reported for full year 2014, which represents 8.5% of prior
year equity (5.3% after-tax).  The majority of the reserve
strengthening arose from the Professional Insurance segment in
particular lawyer's legal liability.  Fitch notes this level of
strengthening was inconsistent with prior rating expectations of
flat to favorable reserve development.

Fitch's current ratings of OneBeacon reflect an expectation that
future reserve development will be neutral to modestly favorable
over the next 12 to 18 months.  Adverse reserve development in 2015
that is 5% or greater of 2014 year end equity would likely lead to
a downgrade of all OneBeacon IFS ratings by one notch.

For full year 2014, OneBeacon reported a GAAP calendar year
combined ratio of 101.7% materially worse than 92.4% in prior
period.  Despite the unfavorable underwriting, the company reported
a small profit due to realized and unrealized gains.  Favorably,
Fitch also notes that in late December, OneBeacon successfully sold
its legacy run-off business, which included asbestos and
environmental reserves, to Armour Group Holdings Limited.

Fitch's rating rationale for the affirmation of White Mountains'
and Sirius Group's ratings reflects the company's low financial and
operating leverage, opportunistic business approach, platform of
property/casualty specialty insurance and global reinsurance, and
favorable financial flexibility.  The ratings also reflect Fitch's
current negative sector outlook on global reinsurance, as the
fundamentals of the reinsurance sector have deteriorated with
declining premium pricing and weakening of terms and conditions
across a wide range of lines.

White Mountains posted net income of $313 million for full year
2014, a modest decline over prior period of $322 million.  The
company's return on common equity was 7.9% for full year 2014,
compared to 8.4% for full-year 2013.

White Mountains' financial leverage ratio continues to be modest at
14.2% at Dec. 31, 2014, modestly up from 13.2% at Dec. 31, 2013.
GAAP operating earnings-based interest expense and preferred
dividend coverage (excluding net gains and losses on investments)
has been weak in recent years, averaging a low 2.1x from 2010-2014
as operating earnings at OneBeacon and Sirius Group have been
offset by losses at start-up municipal bond insurer Build America
Mutual (which are allocated to non-controlling interest) and in
other operations, including White Mountains Life Re runoff
business.  Earnings coverage was 1.7x for full year 2014 and 4.3x
in 2013.

Fitch believes that White Mountains utilizes a reasonable amount of
operating leverage comparable to (re)insurer peers, with net
premiums written to (re)insurance segment equity of approximately
0.6x for 2014.  Total GAAP shareholders' equity increased 3% for
the 12 months ended Dec. 31, 2014 to $4.5 billion, from favorable
net income with increased realized and unrealized investment gains,
partially offset by foreign currency losses, dividends and share
repurchases.

RATING SENSITIVITIES

Key rating triggers that could lead to a downgrade of OneBeacon
ratings include further adverse loss reserve development of 5% or
greater of prior year equity, a calendar year combined ratio of
100% or higher, or financial leverage of 30% or higher.

Key rating triggers that could lead to a return to Stable Outlook
at OneBeacon include neutral to favorable adverse loss reserve
development, a calendar year combined ratio below 100%, or
maintaining current financial leverage.

Key rating triggers that could lead to a downgrade of White
Mountains or Sirius Group's ratings are adverse reserve development
greater than 5% of prior year equity, future earnings that are
significantly below industry levels, sizable deterioration in
insurance subsidiary capitalization that causes total company net
written premiums to (re)insurance segment GAAP equity to exceed
1.0x, financial leverage maintained above 30%, or run-rate
operating fixed charge coverage ratio of less than 5.0x.

Key rating triggers that could lead to an upgrade of White
Mountains or Sirius Group's ratings are improvement in operating
results in line with higher-rated peers, overall flat to favorable
loss reserve development, financial leverage ratio maintained below
20%, run rate operating fixed charge coverage of at least 8x,
continued strong capitalization of the insurance subsidiaries, and
increased stability in longer term strategic operations and
results.

Fitch has affirmed these ratings and revised the Outlook to
Negative from Stable:

OneBeacon U.S. Holdings, Inc.

   -- IDR at 'BBB+';
   -- $275 million 4.6% due Nov. 9, 2022 at 'BBB'.

OneBeacon U.S. insurance subsidiaries:
Atlantic Specialty Insurance Company
Homeland Insurance Company of New York
Homeland Insurance Company of Delaware

OBI National Insurance Company

   -- IFS at 'A'.

Fitch affirms these ratings with a Stable Outlook:

White Mountains Insurance Group, Ltd.

   -- IDR at 'BBB+'.

Sirius International Group, Ltd.

   -- IDR at 'BBB+';
   -- $400 million 6.375% due March 20, 2017 at 'BBB';
   -- $250 million perpetual non-cumulative preference shares
      at 'BB+'.

Sirius International Insurance Corporation
Sirius America Insurance Company

--IFS at 'A'.



SOUTHGOBI RESOURCES: Insolvency Risk After Tax Evasion Verdict
--------------------------------------------------------------
SouthGobi Resources Ltd. announced on Jan. 7, 2015, that the
Company had been informed that the re-investigation by the State
Investigation Agency into alleged violations of Mongolian taxation
law against three former employees of SouthGobi Sands LLC ("SGS"),
the Company's Mongolian subsidiary, and against SGS as "civil
defendant" had been completed and that the case had been
transferred back to the Second District Criminal Court of Justice
for trial.

Further detail in respect of the tax investigations can be found in
section 6 "Regulatory issues and investigations" of the Company's
Management Discussion and Analysis ("MD&A") for the three months
ended September 30, 2014, which is available at www.sedar.com.

The trial commenced on January 28, 2015. On January 30, 2015, the
panel of appointed judges from the Second District Criminal Court
of Justice found the three former employees guilty of tax evasion
and gave sentences ranging from 5 years and 6 months to 5 years and
10 months of imprisonment in the correctional facilities of strict
regimen in Mongolia.

Although SGS was not a party to the criminal proceedings and was
not allowed to call witnesses in its own defence, the Court
declared it to be financially liable as a "civil defendant" for a
penalty of MNT35.3 billion (approximately US$18.2 million). The
Company is awaiting written reasons for the Court's judgment. The
Company has been advised that the penalty would only be payable
after a final appeal.

Notwithstanding the intention to file appeals by SGS and its three
(3) former employees, the Company understands that under Mongolian
law the former employees will not be granted bail after the Court's
sentence and have been remanded into custody.

President and CEO Mr. Enkh-Amgalan Sengee said "We are extremely
disappointed by the Court's decision. The conclusions reached by
the experts as highlighted in their report presented to the Court
are erroneous and there is a complete lack of evidence to support
this harsh verdict. We fully support our former employees and will
lodge an immediate appeal against the Court's decision".

                   Background and Analysis

SGS and its former employees Messrs. Justin Kapla, Hilarion Cajucom
Jr. and Cristobal David have been subject to various investigations
with regards to allegations of breaching Mongolia's taxation laws
for the past thirty months. Since October 2012, these persons have
been prevented from leaving Mongolia under
Mongolia's Law on the Legal Status of Foreign Citizens. The experts
appointed by the relevant authorities in Mongolia have issued in
total four reports (one report after each series of
investigations). These reports have all been different and
contradicted one another in terms of content and final sums of
purported tax evasion. The conclusions contained in the experts'
reports are neither supported by nor consistent with Mongolian tax
law or international accounting standards utilized by reputable
Mongolian and international firms. The Company believes that the
inconsistencies are manifest when considering the systematic
changes in the sums of alleged tax evasion from one report to
another. For example, the total amount alleged in the latest report
dated December 2014 is MNT35.3 billion, i.e.:

   * 85% lower compared to the amount alleged in the second
     experts' report dated December 2012 (MNT234 billion); and

   * 59% lower compared to the amount alleged in the third
     experts' report dated January 2014 (MNT84.9 billion).

These inconsistencies and errors in the experts' reports were
recognized by the same panel of appointed judges from the Second
District Criminal Court of Justice in August 2014, who at that
time, viewed the Prosecutor's accusations as lacking evidence and
ordered the case be returned for re-investigation. The fourth and
latest experts' report resulting from this re-investigation was
presented to the Court on January 28, 29 and 30, 2015. It appears
that this report contains the same information and errors as the
three previous reports although the amount of alleged tax evasion
had been reduced. The Company believes that the latest report, like
the previous reports, fails to provide any evidence supporting the
case against SGS and its former employees.

The Company, including SGS, has prepared its financial statements
in compliance with International Financial Reporting Standards
("IFRS"), and lodged all its tax returns as required under
Mongolian tax law. For the period under investigation, i.e. between
2007 and 2011, the Company earned revenues of MNT456.8 billion
(US$349.7 million) from coal sales and paid MNT103.1 billion
(US$79.7 million) in taxes in Mongolia. The amounts of purported
tax evasion, when added to the taxes already paid by SGS, would
mean the Company's tax rate as a percentage of revenue (not profit)
would be 74%, 41% and 30% respectively. This would be grossly above
the amounts prescribed to be paid on taxable income under Mongolian
law.

During the investigative period, the Company requested that one of
the largest and most reputable international auditing firms conduct
an independent assessment of the allegations raised through the
investigations. The auditing firm concluded that the experts'
reports had no basis and were the result of incomplete reviews and
erroneous interpretation of a mining company's financial statements
prepared in accordance with Mongolian accounting and reporting
standards and Mongolian tax laws. The auditing firm also concluded
the experts had failed to consider all relevant information and
documents provided by the Company during the investigations. To
illustrate the confusion and lack of support for the experts'
conclusions presented by the Prosecutor to the Court in the
hearings of January 28, 29 and 30, 2015,
the Company notes, by way of example:

   1. The experts' report alleges that SGS falsely increased its
      accounts payable balance in order to reduce its taxable
      income. This claim amounts to 70% of the overall tax evasion

      penalty recommended by the experts (MNT24.3 billion out of
      MNT35.3 billion). This increase in the payable balance
      relates almost exclusively to unrealized foreign exchange
      losses which arose on MNT968.9 billion (US$693.9 million) in

      investments made into SGS by its parent company, SouthGobi
      Resources Limited, in US Dollar and translated into MNT. The

      loss itself resulted from the depreciation of the MNT
      against the US Dollar over the period being investigated.
      This significant investment made by the Company was for the
      development of the mining resource in the South Gobi region,

      directly for the benefit of the Mongolian economy. The
      Company notes that this investment is precisely the type of
      investment that Mongolia is currently trying to attract from

      overseas investors.

Under Mongolian tax law, unrealized foreign exchange losses cannot
be used to reduce taxable income. SGS has precisely followed this
regulation as shown in its tax statements that are available to the
public and never deducted the foreign exchange losses from its
taxable income in its tax filings. SGS is also required to file
separately statutory financial statements with the Ministry of
Finance of Mongolia. These statutory financial statements need to
be done, by law in Mongolia, in accordance with IFRS. Under IFRS,
unlike under Mongolian tax law, SGS is required to reduce its
income by unrealized foreign exchange losses. The experts have
therefore confused tax accounting rules with IFRS accounting rules
that are used for statutory financial statements.

In order to assist the experts in understanding the difference
between IFRS and tax accounting rules in Mongolia for the
calculation of taxable income, SGS prepared and provided
reconciliation statements to various experts and authorities
throughout the investigation. The Company believes that the experts
have failed to properly evaluate and assess the validity of the
reconciliation statements.

   2. As another example, the experts' report claimed that the
      Company should have paid value added tax ("VAT") on goods
      allegedly "transferred to other parties free of charge".
      These goods described in the experts' report are (i) mobile
      equipment owned by SGS and destroyed by an accidental fire
      at the mine site; (ii) fixed assets that are fully
      depreciated and still held at the mine site; (iii) equipment

      relating to expired exploitation requirements and still held

      at the mine site; and (iv) cash donations paid by SGS to
      local communities, including donations that contributed to
      the construction of a kindergarten. Paying VAT on these
      items, including donations, is strictly prohibited under the

      law on VAT in Mongolia.

The General Tax Law of Mongolia outlines precisely the process and
which authorities should be responsible for the resolution of tax
disputes. The Company has enquired and not received any explanation
as to why this case is being treated as a criminal case as opposed
to a civil case. Consequently, the Company disputes both the
process as well as the conclusions of the investigations that led
to the accusations and verdict against SGS and its three (3) former
employees. No new evidence was presented during the latest Court
hearing and the Company firmly considers these allegations were not
proven.

In addition, the Company notes that the Prosecutor's recommended
sentence on January 29, 2015 against the three former employees
excluded imprisonment. On January 30, 2015, the Prosecutor amended
the recommended sentence to then include imprisonment. The Company
is currently seeking legal advice and clarification on this
matter.

The Company has not committed tax evasion and will resolutely
appeal the Court's verdict. It will continue to vigorously defend
itself and support its three (3) former employees through the
appeal process.

                  Potential Impact on the Company

The Company has cash of US$3.3 million at January 30, 2015 which
excludes restricted cash of US$1.2 million held in Mongolia. The
consequences for the Company from the verdict relating to the tax
investigations are uncertain. If the verdict is not reversed on
appeal, the Company is likely to be unable to meet its obligations,
which could result in voluntary or involuntary insolvency
proceedings involving the Company.

                          About SouthGobi

SouthGobi is listed on the Toronto and Hong Kong stock exchanges,
in which Turquoise Hill Resources Ltd. ("Turquoise Hill"), also
publicly listed in Toronto and New York, has a 56% shareholding.
Turquoise Hill took management control of SouthGobi in September
2012 and made changes to the board and senior management. Rio
Tinto has a majority shareholding in Turquoise Hill.

SouthGobi is focused on exploration and development of its
metallurgical and thermal coal deposits in Mongolia's South Gobi
Region.  It has a 100% shareholding in SouthGobi Sands LLC, the
Mongolian registered company that holds the mining and exploration
licenses in Mongolia and operates the flagship Ovoot Tolgoi coal
mine.  Ovoot Tolgoi produces and sells coal to customers in China.


SRC COMPUTERS: Freeman Capital to Auction Assets on February 13
---------------------------------------------------------------
Freeman Capital Partners LP will conduct a public, non-judicial
foreclosure sale of all of the rights, title and interest of SRC
Computers LLC at 10:00 a.m. (Central Time) on Feb. 13, 2015.

The assets are located at 4240 N Nevada Avenue in Colorado Springs,
Colorado, and available for inspection until the date of the sale.
For more information on the assets, contact:

  a) Brandon Freeman of Freeman Capital
     Tel: 214.550.1222

     - or -

  b) Craig Unterberg
     Haynes and Boone LLP
     30 Rockefeller Plaza
     New York, NY 10112
     Tel: 212.659.4987
     Email: craig.unterberg@haynesboone.com


SUBURBAN PROPANE: S&P Rates New $250MM Sr. Unsecured Notes 'BB-'
----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB-'
issue-level rating and '4' recovery rating to Suburban Propane
Partners L.P. and Suburban Energy Finance Corp.'s proposed $250
million senior unsecured notes due 2025.  The '4' recovery rating
indicates S&P's expectation of average (30% to 50%; upper half of
the range) recovery if a payment default occurs.  The partnership
intends to use net proceeds from the offering to repurchase the
outstanding 7.375% senior unsecured notes due 2020.

Whippany, N.J.-based Suburban Propane Partners specializes in
distributing propane.  S&P's corporate credit rating on Suburban is
'BB-', and the outlook is stable.

RATINGS LIST

Suburban Propane Partners L.P.
Corp credit rating                   BB-/Stable/--

New Ratings
Suburban Propane Partners L.P.
Suburban Energy Finance Corp.
$250 mil sr unsecd notes due 2025    BB-
Recovery rating                      4



TARGET CANADA: Agency Deal With Gordon Brothers et al. Okayed
-------------------------------------------------------------
The Ontario Superior Court of Justice (Commercial List) on Feb. 4,
2015, issued an order approving the Agency Agreement entered into
between Target Canada Co., Target Pharmacy Corp., and Target Canada
Pharmacy (Ontario) Corp. and a contractual joint venture composed
of Merchant Retail Solutions ULC, Gordon Brothers Canada ULC and GA
Retail Canada, ULC, along with Sales Guidelines of the Inventory
Liquidation Process.

Target Canada is selling all of its leases and real property.
Lazard, Target Canada's financial advisor, assisted in designing
the Real property portfolio sales process.

Daily Insolvency News reported that Target Canada set May 15 as the
deadline for wrapping up the sale of the leases, with an final date
set for June 30. If a lease isn't sold by the June deadline, then
the rights will be returned to the landlord, according to the
documents. The move addresses concerns from landlords that delays
could leave unoccupied properties in limbo, as well as Target
Corp.'s goal of getting out of Canada around mid-May. Lawyers for
both the landlords and Target Canada have been in discussions on
how the real estate sale would proceed. Target Canada is in the
midst of liquidating 133 stores across the country, as the
U.S.-based retailer exits Canada and lays off more than 17,000
staff.

                        About Target Canada

On January 15, 2015, Target Canada Co. and certain entities
commenced court-supervised restructuring proceedings under the
Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as
amended.  On the same day, the Ontario Superior Court of Justice
(Commercial List) granted an order, which, among other things,
provides for a stay of proceedings until February 13, 2015.  The
Stay Period may be extended by the Court from time to time.
Although not Applicants, the protections and authorizations
provided for in the Initial Order have been extended to the
Partnerships.  Also pursuant to the Initial Order, Alvarez & Marsal
Canada Inc. was appointed as monitor of the business and financial
affairs of the Target Canada Entities.


TARGET CANADA: Employees Seek Representation
--------------------------------------------
A group of Target Canada employees has petitioned the Ontario
Superior Court of Justice (Commercial List) to appoint
representatives to represent the interests of employees, other than
directors and officers, in the insolvency proceedings of Target
Canada et al.

The motion was filed by Frederick Payette, Sylvie Gautier, Jennifer
Lindsay, Catherine Bedard, Michael O'Neil, Alyssa Morin and Joshua
Gordon.  They are represented by Koskie Minsky LLP.

Their filing says "over 16,700 Target Employees have an interest in
the Insolvency Proceeding in respect of their wages, notice of
termination, pay in lieu of notice of their termination, benefit
and incentive plans, retirement allowances and other retirement and
benefit programs and amounts owed in accordance with applicable
common law, contractual obligations and employment standards
legislation.  Many of these Target Employees are or will be
unsecured creditors of the Applicants."

The employees' counsel may be reached at:

     Susan Philpott, Esq.
     Simon Archer, Esq.
     Clio Godkewitsch, Esq.
     James Harnum, Esq.
     KOSKIE MINSKY LLP
     20 Queen Street West, Suite 900, Box 52
     Toronto, Ontario M5H 2R2
     Tel: 416-595-2104
     E-mail: sphilpott@kmlaw.ca
             srcher@kmlaw.ca
             cgodkewitsch@kmlaw.ca
             jharnum@kmlaw.ca

                        About Target Canada

On January 15, 2015, Target Canada Co. and certain entities
commenced court-supervised restructuring proceedings under the
Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as
amended.  On the same day, the Ontario Superior Court of Justice
(Commercial List) granted an order, which, among other things,
provides for a stay of proceedings until February 13, 2015.  The
Stay Period may be extended by the Court from time to time.
Although not Applicants, the protections and authorizations
provided for in the Initial Order have been extended to the
Partnerships.  Also pursuant to the Initial Order, Alvarez & Marsal
Canada Inc. was appointed as monitor of the business and financial
affairs of the Target Canada Entities.


TARGET CANADA: Licensing Deal With Starbucks Terminated
-------------------------------------------------------
Target Canada and Starbucks Coffee Canada Inc. have agreed to a
mutual termination of the master licensing agreement between the
parties, and an orderly wind down of the Starbucks-branded stores
operating within Target Canada stores.  Starbucks-branded stores
ceased operating in all Target Canada stores on or before January
23, 2015.  The parties are in the process of finalizing the mutual
termination agreement.

                        About Target Canada

On January 15, 2015, Target Canada Co. and certain entities
commenced court-supervised restructuring proceedings under the
Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as
amended.  On the same day, the Ontario Superior Court of Justice
(Commercial List) granted an order, which, among other things,
provides for a stay of proceedings until February 13, 2015.  The
Stay Period may be extended by the Court from time to time.
Although not Applicants, the protections and authorizations
provided for in the Initial Order have been extended to the
Partnerships.  Also pursuant to the Initial Order, Alvarez & Marsal
Canada Inc. was appointed as monitor of the business and financial
affairs of the Target Canada Entities.


TARGET CANADA: PFAC Seeks Representative for Pharmacists
--------------------------------------------------------
The Pharmacy Franchisee Association of Canada is asking the Ontario
Superior Court of Justice (Commercial List) to:

     -- appoint PFAC as the representative of the Pharmacists and
Franchisees under the Pharmacy Franchise Agreements in the
proceedings pursuant to the Companies' Creditors Arrangement Act,
R.S.C. 1985, c. C-36 as amended, of Target Canada Co. and its
affiliated entities;

     -- appoint Sutts, Strosberg LLP as Pharmacist Representative
Counsel;

     -- appoint BDO Canada as Pharmacist Financial Adviser;

     -- direct the reasonable legal and other authorized
professional expenses of PFAC to be paid from the estate of the
Target Canada Entities; and

     -- direct pursuant to section 32(2) of the CCAA that the
"Disclaimer of Franchise Agreements" dated January 26, 2015 from
the Franchisor, Target Pharmacy, to each of the Franchisees and
Pharmacists under the Pharmacy Franchise Agreement is set aside and
declare the Pharmacy Franchise Agreements and/or related agreements
are not to be disclaimed or resiliated without further Court order
and direct that Target Pharmacy cannot deny access to premises,
discontinue supplies or otherwise interfere with the Pharmacists'
and Franchisees' operations without further Court order.

The PFAC argues that:

     1. the Pharmacists and Franchisees are a vulnerable and an
important stakeholder group and deserve meaningful representation
in these CCAA proceedings;

     2. individual representation by the Pharmacists and
Franchisees would be too costly for them to have any meaningful
representation;

     3. PFAC is an appropriate representative for the Pharmacists
and Franchisees;

     4. representation by PFAC will enhance the efficiency of the
proceedings in a number of ways, including assisting in the
communication of the rights of this stakeholder group and provide
an efficient and cost-effective means of ensuring that the
interests of the Pharmacists and Franchisees are brought to the
attention of the Court;

     5. representation by PFAC will establish a leadership group
who will be able to organize a process for obtaining the advice and
directions of the Pharmacists and Franchisees on specific issues as
required;

     6. the contemplated representation may also avoid a
multiplicity of retainers by the Pharmacists and Franchisees; and

     7. the contemplated representation order will provide for a
notice and an opt-out process, allowing any individual who does not
wish to be represented by PFAC to opt-out in favour of their own
choice of representation.

The request was slated to be heard Wednesday, February 11, 2015 at
10:00 a.m., or as soon after that time as the motion can be heard
at the court house, 330 University Avenue, Toronto, Ontario.

Lawyers for PFAC are:

     William V. Sasso, Esq.
     Sharon Strosberg, Esq.
     Jacqueline A. Horvat, Esq.
     SUTTS, STROSBERG LLP
     600 - 251 Goyeau Street
     Windsor, ON N9A 6V4
     Tel: 519-561-6222
     E-mail: wvs@strosbergco.com
             sharon@strosbergco.com
             jhorvat@strosbergco.com

                        About Target Canada

On January 15, 2015, Target Canada Co. and certain entities
commenced court-supervised restructuring proceedings under the
Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as
amended.  On the same day, the Ontario Superior Court of Justice
(Commercial List) granted an order, which, among other things,
provides for a stay of proceedings until February 13, 2015.  The
Stay Period may be extended by the Court from time to time.
Although not Applicants, the protections and authorizations
provided for in the Initial Order have been extended to the
Partnerships.  Also pursuant to the Initial Order, Alvarez & Marsal
Canada Inc. was appointed as monitor of the business and financial
affairs of the Target Canada Entities.


UNIVISION COMMUNICATIONS: S&P Rates New Sr. Secured Notes 'B+
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating and '2' recovery rating to New York City-based Univision
Communications Inc.'s proposed senior secured notes due 2025.  The
'2' recovery rating indicates S&P's expectations for substantial
recovery (70%-90%) in the event of a payment default.

Additionally, S&P's 'B+' issue-level and '2' recovery ratings on
the company's senior secured notes due 2023 remain unchanged
following a proposed add-on.

Univision intends to use net proceeds from the proposed senior
secured notes, including the add-on, to pay down its 6.875% notes
due in 2019.  The company's leverage remains very high, at roughly
9x, as of Dec. 31, 2014, and largely unchanged by the transaction.


RATINGS LIST

Univision Communications Inc.
Corporate Credit Rating             B/Stable/--

New Ratings

Univision Communications Inc.
Senior secured notes due 2025       B+
  Recovery Rating                    2

Ratings Unchanged

Univision Communications Inc.
Senior secured notes due 2023       B+
  Recovery Rating                    2



US CAPITAL: Duane Morris Partner Suspended by Fla. Bankruptcy Judge
-------------------------------------------------------------------
Law360 reported that the Florida judge overseeing a shopping mall
property's bankruptcy suspended a Miami-based Duane Morris LLP
partner for 90 days for allegedly orchestrating a plan to fool the
court into signing an "agreed order" that the opposing counsel
hadn't seen in an attempt to revive a $49 million real estate row.

According to the report, suspension order came a day after a show
cause hearing in which Judge John K. Olson tore into Duane Morris
and its attorneys, saying the firm should be "ashamed" for
violating court rules.

                    About US Capital Holdings

US Capital/Fashion Mall is the owner of the former "Fashion Mall
at Plantation", now vacant, located at 321 N. University Drive, in
Plantation, Florida.  US Capital Holdings is the 100% owner of US
Capital/Fashion Mall.  The mall -- http://www.321north.com/-- is   

presently dormant, in part, as a result of a redevelopment plan
for the mall of a project called 321 North, which is intended to
be a major, retail, office and residential project.  The mall
suffered extensive hurricane damage from Hurricane Wilma.

US Capital Holdings, LLC, and an affiliate, US Capital/Fashion
Mall, LLC, filed Chapter 11 petitions (Bankr. S.D. Fla. Case Nos.
12-14517 and 12-14519) in Forth Lauderdale, Florida, on Feb. 24,
2012.  The Debtor listed assets of $11,496 and liabilities of
$22,777,428.  Judge John K. Olson presides over the case.  

On Oct. 14, 2014, US Capital/Fashion Mall, LLC, filed for Chapter
7
liquidation (Bankr. S.D. Fla. Case No. 14-32819).  Judge John K.
Olson presides over the case.  

The Debtor is represented by:

      Thomas M. Messana, Esq.
      Messana P.A.
      Las Olas City Centre, Suite 1400
      401 East Las Olas Boulevard
      Fort Lauderdale, FL 33301
      Tel: (954)712-7415
      E-mail: tmessana@messana-law.com

As reported by the the Troubled Company Reporter on Oct. 16, 2014,
Brian Bandell, Senior Reporter at the South Florida Business
Journal, said US Capital listed both its assets and debts between
$10 million and $50 million each.  Business Journal added that
parent company Mapuche LLC also filed for Chapter 7 in the same
month.  Business Journal stated that Wei Chen -- the manager of
Mapuche LLC, the entity that controls the Debtor -- signed the
Chapter 7 liquidation petition on behalf of Mapuche, the Debtor
and
U.S. Capital/Fashion Mall.


VYSHNAVI INFOTECH: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Vyshnavi Infotech Inc.
        13800 Coppermine Rd Ste 159
        Herndon, VA 20171

Case No.: 15-10475

Chapter 11 Petition Date: February 10, 2015

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

Judge: Hon. Robert G. Mayer

Debtor's Counsel: Juan Ever Milanes, Esq.
                  LAW OFFICES OF JUAN E. MILANES, PLLC
                  1831 Wiehle Avenue, Suite 105
                  Reston, VA 20190-5220
                  Tel: (703) 880-4881
                  Fax: (703) 742-9487
                  Email: va.bankruptcylaw@gmail.com

Total Assets: $185,207

Total Liabilities: $1.02 million

The petition was signed by Janardhana R. Ravipati,
president/director.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/vaeb15-10475.pdf


WYNN LAS VEGAS: Fitch $1.75-Bil. Sr. Unsecured Notes 'BB'
---------------------------------------------------------
Fitch Ratings has assigned a 'BB' rating to the Wynn Las Vegas,
LLC's announced issuance of $1.75 billion senior unsecured notes
due 2025.  Wynn Las Vegas LLC's Issuer Default Rating (IDR) is 'BB'
and is linked to Wynn Resorts, Ltd's (Wynn; parent) IDR.  The
Rating Outlook is Stable.

Fitch sees the issuance largely as neutral for Wynn Las Vegas
credit given the interest savings and recognizes the increased debt
and reduction of covenants vis-a-vis the refinancing of the 2020
first mortgage notes (FMNs).  The proceeds of the proposed senior
note will be used to fund a cash tender for $377 million in
outstanding 7.875% FMNs due 2020 and $1.227 billion in outstanding
7.75% FMNs due 2020 with balance used for general corporate
purposes.  The issuance increases debt at Wynn Las Vegas by about
$150 million but reduces interest expense by roughly $35 million -
$45 million annually.

The 2025 notes will rank pari passu with Wynn Las Vegas' existing
FMNs due 2022 and 4.25% senior unsecured notes due 2023.  The 2025
notes will not have meaningful restrictive covenants, similar to
the 2023 notes, except for lien covenants limiting liens to 15% of
total assets (based on GAAP).  The notes would become secured to
the extent Wynn Las Vegas exceeds the 15% threshold or if the
remaining 2022 FMNs become secured.  The 2022 FMNs have a springing
lien, which activates if Wynn Las Vegas issues any secured debt and
the 2022 FMNs are callable in 2017.

Pro forma for the transaction, Fitch calculates Wynn Las Vegas'
leverage and interest coverage using last-12-month (LTM) EBITDA
ending Dec. 31, 2014 after corporate expenses and management fees
of $61 million at 7.0x and about 3.0x, respectively.  Fitch
estimates that adjusting for normalized table hold leverage would
be closer to 7.5x.

The one-notch rating uplift of the 2022 FMNs relative to the 2023
and 2025 unsecured notes reflects the FMNs tighter covenants
including the springing lien provision and the additional debt
test.

RESTRICTED PAYMENT COVENANTS LOOSEN

The looser restricted payment (RP) covenants in the remaining FMNs
are a slight negative for Wynn Las Vegas creditors.  However, the
greater RP flexibility is beneficial to Wynn, which has
considerable obligations including a $600 million regular dividends
annually and a $5.8 billion project pipeline ($4 billion net of
amount spent to date).  Fitch links the IDRs of the parent and Wynn
Las Vegas because of the latter's strategic importance to the
parent and a history of parent support.

The refinancing of the 2020 FMNs will give Wynn Las Vegas greater
freedom to pay management fees to Wynn and changes the RP basket
calculation to an EBITDA-based one from a net income-based one. The
2020 FMNs that are being tendered do not allow management fees to
be paid out to Wynn as long as leverage at Wynn Las Vegas is
greater than 6.5x, in which case the fees are accrued.  As of Sept.
30, 2014 Wynn Las Vegas had $189 million of accrued liabilities to
affiliates outstanding relative to approximately $300 million of
cash on hand net of cage cash ($50 million estimated by Fitch).
The management fees due from Wynn Las Vegas for the LTM period
ending Dec. 31, 2014 were $25 million.

The RP basket per the 2020 FMN indentures is based on 50% of
cumulative net income and per the 2022 FMN indenture on EBITDA
minus 1.4x of interest expense, the latter of which is looser.
Fitch estimates that based on LTM EBITDA and pro forma interest
expense assuming 5% coupon on the 2025 notes, permitted RP per the
2022 FMN carveout would be about $295 million per year.

WYNN AMERICA LONG-TERM POSITIVE FOR WYNN LV

Long-term Fitch views the creation of Wynn America LLC favorably
due to Fitch's favorable outlook for Wynn's Massachusetts $1.6
billion - $1.8 billion Wynn Everett project.  However, Wynn may
increase its reliance on Wynn Las Vegas cash flows during the
development phase of Wynn Everett, which will last roughly three
years.  As indicated above Wynn will be able to pull roughly $295
million of cash annually from Wynn Las Vegas per the 2022 FMN RP
basket plus the accrued management fees.  Additional debt at Wynn
Las Vegas is subject to a 2x fixed charge coverage test per the
2022 FMN indenture.  The 2023 and 2025 unsecured notes have no
additional debt tests.

Wynn America will be an indirect parent of Wynn Las Vegas and is
the owner of Wynn's Massachusetts project (Wynn MA).  Wynn Las
Vegas is not a guarantor of Wynn America's $1.75 billion credit
facility but Wynn provided a completion guarantee on the credit
facility and may look to Wynn Las Vegas to support the project in
light of the heavy cash commitments elsewhere and the current
operating weakness in Macau.

Fitch forecasts $325 million EBITDA for Wynn Everett and views the
project favorably from a return on investment (ROI) standpoint.
Fitch's favorable outlook for Wynn Everett considers that the
casino will be the closest casino to the Boston area, including the
affluent Norfolk and Middlesex counties.

ROOM IN THE RATING FOR MACAU WEAKNESS

Wynn reported a 29% property EBITDA decline for 4Q'14 pushing its
gross consolidated gross leverage to 5.1x from 4.8x at end of the
last quarter (Fitch subtracts income attributable to minority
interest from EBITDA when calculating Wynn's leverage).  This at
the high end of Wynn's 4x - 5x gross leverage range for 'BB' IDR,
but below Fitch's 6.5x through the development cycle threshold.

Fitch expects leverage to remain elevated at or above 5x as Fitch
projects negative 4% revenue growth in Macau for 2015.  Macau, the
source of the recent decline, represents about 70% of Wynn's
property EBITDA.  Later in 2015 Wynn will draw $875 million on its
delayed draw term loan at Wynn America and may start drawing on its
$1.55 billion revolver in Macau to develop the $4 billion Wynn
Palace ($1.8 billion spent to date).

Fitch expects leverage to return to below 5x around 2017 once
Wynn's projects in Macau and Massachusetts start to ramp up.  In
the meantime, liquidity is adequate.  Consolidated available
liquidity including excess cash and revolver and delayed draw
availability is $4.9 billion relative to about $4 billion of
remaining project capex.  Fitch estimates cumulative FCF over the
next three years after dividends but before project capex at nearly
$2 billion.  The nearest maturity is the Macau credit facility with
the revolver and half of the term loan coming due in 2017.

POSITIVE LONG-TERM LAS VEGAS OUTLOOK WITH ASIA BACCARAT CAVEAT

Fitch is positive on the Las Vegas Strip, projecting that the
market will manage midsingle-digit RevPAR and visitation growth
over the next two to three years.  This outlook is supported by
good prospects for continued increase in the mid-week convention
mix and by the increasing air capacity.  McCarran International
Airport's flight capacity measured by seats for April 2015 is up
3.8% relative to the same period in 2014.

Las Vegas total gaming revenues and baccarat revenues were down 2%
and 6% in 2014, respectively.  The baccarat revenues were pressured
towards the latter part of the year.  Wynn Las Vegas' casino
revenues are especially reliant on baccarat and table drop at the
property was down 12% in the fourth-quarter.  Baccarat revenues are
hard to forecast for 2015 and the source of the pressure is hard to
pinpoint.  On one hand, Chinese visitation to the U.S. should grow
19% according to the U.S. Department of Commerce forecast, but on
the other hand an anti-money laundering drive by the U.S.
authorities and an anticorruption crackdown in China may negatively
affect baccarat volume.

The $4 billion Resorts World Las Vegas due to open around 2017 will
be a positive for the Las Vegas Strip and should benefit Wynn Las
Vegas as it will pull the center of gravity north.

KEY ASSUMPTIONS

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

   -- Negative 4% market-wide gaming revenue growth in Macau for
      2015 and low-to-mid single digit same-store growth
      thereafter;

   -- Low-to-mid single digit total revenue growth on the Las
      Vegas Strip led by visitation and RevPar growth;

   -- $660 million of incremental EBITDA from Wynn Palace (mid-
      2016 opening) and $325 million from Wynn Everett (early
      2018);

   -- Total consolidated debt increases to $9.8 billion in 2017
      after draws on credit facilities to fund Wynn Palace and
      Wynn Everett;

   -- Regular parent level dividends at approximately $600 million

      per year with no special dividends assumed.

RATING SENSITIVITIES

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

   -- Consolidated gross leverage approaching 4x and net leverage
      declining below 4x following the ramp up of Wynn Palace and
      Wynn Everett projects.  An earlier upgrade is possible if
      Fitch gains a fair amount of comfort that the forecast
      leverage will be in line with these thresholds once the
      project(s) ramps up.  (Fitch forecast: gross leverage 5.5x
      in FY15 and 4.0x in FY18)

   -- A resolution of Okada related dispute and investigations by
      U.S. authorities;

   -- Continuation of favorable operating outlook for the Las
      Vegas Strip and stabilization in Macau.

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

   -- Gross leverage sustaining above 5x (6.5x before development
      projects ramp up) (Fitch forecast: gross leverage 5.5x in
      FY15 and 4.0x in FY18);

   -- Unfavorable resolution with respect to Okada related dispute

      and investigations by U.S. authorities;

   -- Reversal of the positive operating environment on the Las
      Vegas Strip and continued negative trends in Macau.

Fitch rates Wynn and its subsidiaries as:

Wynn Resorts, Limited

   -- Long-term IDR 'BB'; Outlook Stable.

Wynn Las Vegas, LLC

   -- Long-term IDR at 'BB'; Outlook Stable;
   -- First mortgage notes (FMNs) 'BB+';
   -- Senior unsecured notes 'BB'.

Wynn America, LLC

   -- Long-term IDR 'BB'; Outlook Stable;
   -- Senior secured credit facility 'BB+'.

Wynn Resorts (Macau), SA

   -- Long-term IDR 'BB'; Outlook Stable;
   -- Senior secured credit facility 'BBB-'.

Wynn Macau, Ltd

   -- Long-term IDR 'BB'; Outlook Stable;
   -- Senior notes 'BB'.



WYNN RESORTS: S&P Affirms BB+ Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' issue-level
rating and '2' recovery rating to Las Vegas-based casino operator
Wynn Resorts Ltd.'s proposed $1.75 billion senior notes due 2025.
The '2' recovery rating indicates S&P's expectation for substantial
(70% to 90%) recovery for noteholders in the event of a payment
default.  The notes will be secured by a first-priority pledge of
Wynn Resorts' equity interest in Wynn Las Vegas LLC (WLV), which is
the same security for the existing first mortgage and senior notes
issues.  The notes will be co-issued by subsidiaries WLV and Wynn
Las Vegas Capital Corp.

The company plans to use proceeds from the notes offering to
purchase its outstanding 7.75% first mortgage notes due 2020 and
its 7.875% first mortgage notes due 2020 through a tender offering
and to use any remaining net proceeds to redeem 2020 notes not
tendered or for general corporate purposes.  S&P will withdraw its
issue-level and recovery ratings on the 2020 notes when they are
fully redeemed.

S&P views this transaction favorably as it will extend maturities
and reduce interest expense, in S&P's view, as the company is
refinancing the highest cost debt in its capital structure.

S&P is updating its base case forecast for Wynn to reflect the
recent revision in S&P's forecast for Macau gross gaming revenue.
S&P's base case incorporates:

   -- Gaming revenue on the Las Vegas Strip grows in the low-
      single-digit percentage area in 2015, while revenue per
      available room (RevPAR) grows in the low- to mid-single
      digits in 2015.

   -- Gross gaming revenue declines 5% to 10% in Macau in 2015.

   -- Wynn's Las Vegas properties to perform at the higher end of
      S&P's range for Las Vegas gaming revenue and RevPAR, given
      their quality, but S&P acknowledges that volatility in table

      hold can impair revenue and EBITDA.  S&P expects the company

      to continue benefitting from improving average daily rates
      due to high occupancy levels stemming from convention
      bookings and increased visitation.  S&P is factoring in low-
      single-digit revenue and EBITDA growth in 2015.  S&P assumes

      property EBITDA margin at Las Vegas will remain in the low-
      30% area in 2015.

   -- Wynn Macau's existing properties will fall about 10% in
      2015, at the high end of S&P's range for Macau because of a
      strong focus on VIP and premium mass market customers.  S&P
      expects Wynn to benefit somewhat from additional tables that

      have been off the floor because of ongoing renovations.

   -- Based on current performance expectations, S&P expects net
      revenue to be down in the mid-single-digit percentage area
      and EBITDA to be down about 10% in 2015.

   -- Under these assumptions, S&P expects net leverage to
      increase to the mid-4x area and for coverage to remain
      strong, in excess of 5.5x.

An increase in net leverage to the mid-4x area by the end of 2015
because of the development of the company's new Cotai property is
somewhat weak for the "significant" financial risk profile
assessment, but S&P expects net leverage will improve closer to 4x
by the end of 2016, after the anticipated opening of the Cotai
resort earlier in the year.  S&P is willing to tolerate what it
believes is a temporary spike in leverage because the spending in
2015 and 2016 will finance the development of Wynn Palace on the
Cotai Strip in Macau and Wynn's Massachusetts resort, both of which
S&P views favorably.  However, S&P could revise its rating outlook
to negative or lower the ratings if it expects leverage to increase
further from its current base case scenario either because of
operating underperformance, additional capital spending, or
additional returns of capital to shareholders like a special
dividend.

Despite expected high leverage at the end of 2015, Wynn's
significant operating cash flow generation and cash balances, as
well as S&P's expectation that EBITDA coverage of interest will
exceed 5.5x through 2015, also support S&P's "significant"
financial risk assessment.  In addition, S&P expects Wynn's
"strong" liquidity will help it to pursue and finance developments
in a manner that preserves its credit quality.  S&P's financial
risk assessment also incorporates Wynn's track record of returning
substantial capital to shareholders.

"Our business risk assessment incorporates Wynn's leading presence
in two of the largest global gaming markets, Macau and Las Vegas,
which both cater to a high number of visitors with high
propensities to game.  It also takes into account Wynn's
high-quality assets, its ability to reinvest sufficiently in its
assets to maintain their quality, its well-known brand, and our
favorable view of the company's Massachusetts development project.
These business strengths largely offset the high levels of
anticipated cash flow volatility over the economic cycle, given the
company's concentration in destination markets, the discretionary
nature of consumer spending in the gaming industry, and the high
levels of competition in the Las Vegas and Macau gaming markets.
Management's expansion strategy (including substantial development
spending in Cotai and Massachusetts over the next several years) is
also a business risk factor, although we believe management will
employ a measured pace of development, given Steve Wynn's intimate
involvement in the design of each Wynn resort," S&P said.

RATINGS LIST

Wynn Resorts Ltd.
Corporate Credit Rating            BB+/Stable/--

New Rating

Wynn Las Vegas LLC
Wynn Las Vegas Capital Corp.
$1.75B notes due 2025
Senior Secured                     BBB-
  Recovery Rating                   2



YOSEN GROUP: Late Filed 2013 Report Shows $3.63M Loss
-----------------------------------------------------
Yosen Group, Inc., filed with the U.S. Securities and Exchange
Commission in early February its annual report on Form 10-K for the
fiscal year ended Dec. 31, 2013.

The Company reported a net loss of $3.63 million on $12.8 million
of net sales for the fiscal year ended Dec. 31, 2013, compared with
a net loss of $15.9 million on $21.5 million of net sales in 2012.

The Company's balance sheet at Dec. 31, 2013, showed $3.97 million
in total assets, $5.76 million in total liabilities, and a
stockholders' deficit of $1.79 million.

The Company had accumulated deficit of $47.1 million as of
Dec. 31, 2013.  In addition, the Company's cash position
substantially deteriorated from 2010.  These issues raise
substantial doubt regarding the Company's ability to continue as a
going concern.

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

                       http://is.gd/XPXijY

Yosen Group, Inc., is engaged primarily in international trade and
wholesale business, primarily selling tile, kitchen cabinet,
granite and marble products in the New York market.  The Company
also distributes Samsung(R) and Apple(R) mobile phones in China
through its China-based subsidiaries.



YRC WORLDWIDE: Presented at Stifel Nicolaus & BB&T Conferences
--------------------------------------------------------------
YRC Worldwide Inc. delivered presentations on Feb. 10, 2015, at the
Stifel Nicolaus Transportation & Logistics Conference in Key
Biscayne, Florida, and on Feb. 11, 2015, at the BB&T Transportation
& Logistics Conference in Coral Gables, Florida. The presentations
will be available on audio webcast through the Company's Web site,
www.yrcw.com, for 90 days.  A copy of the slide show presentation
is available at http://is.gd/FiqeH2

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

As of Dec. 31, 2014, the Company had $1.98 billion in total assets,
$2.45 billion in total liabilities, and a $474 million total
stockholders' deficit.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide Inc.
("YRCW") from Caa3 to B3, following the successful closing of its
refinancing transactions.

In the Jan. 31, 2014, edition of the TCR, Standard & Poor's
Ratings Services said that it raised its ratings on Overland Park,
Kansas-based less-than-truckload (LTL) trucker YRC Worldwide Inc.
(YRCW), including the corporate credit rating to 'CCC+' from
'CCC', and removed them from CreditWatch negative, where they were
placed on Jan. 10, 2014.  "The upgrades reflect YRCW's improved
liquidity position and minimal debt maturities as a result of its
proposed refinancing," said Standard & Poor's credit analyst Anita
Ogbara.


[*] Huron Business Advisory Announces Managing Director Promotions
------------------------------------------------------------------
Huron Business Advisory announces recent Managing Director and
Director promotions.

Shane P. Goss
Managing Director

Mr. Goss has extensive experience providing financial and valuation
solutions to the healthcare industry.  He performs valuations for
mergers and acquisitions, corporate compliance and financial
reporting, and serves as a financial consultant to healthcare
companies.  Prior to joining Wellspring Partners, which was
acquired by Huron Consulting Group in 2007, Mr. Goss served as an
associate in the financial consulting and valuation group at
CBIZ/Valuation Counselors.

Mychal Harrison
Director

Mr. Harrison joined Huron after 12 years in financial services
where he worked as a Leverage Finance Investment Banker and a
Distressed Debt Trader.  Most recently, Mr. Harrison was Managing
Director at Guggenheim Securities.  His experience in financial
services afforded him the opportunity to work across many sectors
including healthcare, technology, telecom, exploration and
production, retail, and media/publishing.

Alexander Kotlyar
Director

Mr. Kotlyar has more than 12 years of financial and general
management experience advising senior corporate executives, banks
and private equity investors.  His areas of focus include
restructuring, investment banking, and operational performance
improvement.  His restructuring experience encompasses due
diligence of and capital raising for distressed companies, advisory
on recapitalizations and buyouts of distressed assets, and
execution of cost reduction initiatives.  Prior to joining Huron,
Mr. Kotlyar was with Zolfo Cooper LLP, focusing on automotive,
chemicals, media, and infrastructure industries.


[*] Silfen to Head Arent Fox's N.Y. Office as Managing Partner
--------------------------------------------------------------
Arent Fox LLP has appointed partner Andrew I. Silfen to lead its
New York office as Managing Partner.  Mr. Silfen will take over the
New York leadership post from partner Michael S. Blass, who is
stepping down after having led the office's recent growth during
his seven years in the position.

"Michael has done a great job leading an office where attorneys
collaborate on high-end matters, while fostering a culture of
transparency," said Managing Partner Matthew J. Clark.  "I look
forward to continuing to work with Michael as a leader at this firm
and on the Executive Committee."

Over the last decade, Arent Fox's New York office has tripled in
size and added numerous market-leading practices, while the firm's
lawyers have routinely worked on high-profile matters.  This
includes serving last year as counsel on the municipal bond
financing deal that will enable the World Trade Center to add a
fourth tower, counseling the Brooklyn Nets in connection with the
team's new training facility, and advising MedEquities Realty Trust
on a series of health care facility acquisitions and financings.

Mr. Blass will continue to advise clients on corporate transactions
and regulatory matters involving health care providers.  He often
leads a team that conducts regulatory and corporate due diligence
and coordinates change of ownership procedures for state licensure,
certificate of need, and Medicare and Medicaid certifications.

"This appointment is a great testament to Andrew's leadership
skills," said Chairman Mark M. Katz.  "Andrew has worked hard to
deliver creative and successful results for the firm's clients in
connection with bankruptcy and restructuring matters and strategic
litigation, while successfully fostering a collaborative approach
across practice groups, disciplines, and offices that has resulted
in longstanding allegiances with firm clients and has continuously
demonstrated a commitment to the highest order of practice
excellence and ethical standards.  Having been a leading voice at
the firm for a number of years, this appointment is a natural
progression."  Mr. Silfen will continue to focus his practice on
all aspects of financial restructuring and lead the firm's
nationally recognized Bankruptcy & Financial Restructuring
practice, while also serving on the firm's Executive Committee.

Mr. Silfen is nationally known for his work on behalf of creditors
committees and indenture trustees and has extensive experience in
financial restructuring, distressed situations, and bankruptcy
issues.  His practice includes counseling companies' boards of
directors and management on insolvency matters, crisis management,
and financial and operational restructurings.  He is an officer and
a member of the board of directors of the Association of Insolvency
and Restructuring Advisors and the New York Institute of Credit's
executive board.  In 2014, Mr. Silfen led a team from Arent Fox
that successfully advised the official committee of unsecured
creditors in Cengage Learning Inc. on the year's largest Chapter 11
bankruptcy.

Founded in 1991, Arent Fox's New York office is home to more than
80 attorneys that span the firm's corporate, litigation, and
regulatory capabilities.  The office combines a blend of
entrepreneurial spirit and traditional practice groups, while
working seamlessly with Arent Fox lawyers in Los Angeles, San
Francisco, and Washington, DC to provide innovative and integrated
services across a range of industries and practice areas.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Jose Pizano and Rosa M. Pizano
   Bankr. D. Ariz. Case No. 15-01022
      Chapter 11 Petition filed February 3, 2015

In re Elegant Outdoor Furniture, LLC
   Bankr. D. Ariz. Case No. 15-01038
      Chapter 11 Petition filed February 3, 2015
         See http://bankrupt.com/misc/azb15-01038.pdf
         represented by: Ronald J. Ellett, Esq.
                         ELLETT LAW OFFICES, P.C.
                         E-mail: rjellett@ellettlaw.phxcoxmail.com

In re MLE Partners LLC
   Bankr. C.D. Cal. Case No. 15-11547
      Chapter 11 Petition filed February 3, 2015
         See http://bankrupt.com/misc/cacb15-11547.pdf
         represented by: Travis G. Kasper, Esq.
                         LAW OFFICES OF TRAVIS KASPER
                         E-mail: Filings@Kasperlaw.com

In re Brian Evan Haigh
   Bankr. D. Colo. Case No. 15-10964
      Chapter 11 Petition filed February 3, 2015

In re Joni Lynn Merwin
   Bankr. D. Colo. Case No. 15-10989
      Chapter 11 Petition filed February 3, 2015

In re Paul Heartsill Ross
   Bankr. N.D. Ga. Case No. 15-40240
      Chapter 11 Petition filed February 3, 2015

In re Connie Jean Andes
   Bankr. D. Kan. Case No. 15-10175
      Chapter 11 Petition filed February 3, 2015

In re 3LJ's Cafe Services & Sports Bar Limited Liability Company
   Bankr. E.D. La. Case No. 15-10253
      Chapter 11 Petition filed February 3, 2015
         See http://bankrupt.com/misc/laeb15-10253.pdf
         represented by: Donald Carl Hodge, Jr., Esq.
                         E-mail: donaldhodge@gmail.com

In re Global General Business Services, LLC
   Bankr. D.N.J. Case No. 15-11867
      Chapter 11 Petition filed February 3, 2015
         See http://bankrupt.com/misc/njb15-11867.pdf
         Filed Pro Se

In re Immigrant Liquors, Inc.
   Bankr. S.D.N.Y. Case No. 15-35184
      Chapter 11 Petition filed February 3, 2015
         See http://bankrupt.com/misc/nysb15-35184.pdf
         represented by: Michael A. Koplen, Esq.
                         KOPLEN LAW FIRM
                         E-mail: Atty@KoplenLawFirm.com

In re Julianna LeBlanc
   Bankr. N.D. Tex. Case No. 15-30552
      Chapter 11 Petition filed February 3, 2015

In re Robert De Franceschi and Elena Giovanna Riedo
   Bankr. N.D. Tex. Case No. 15-40545
      Chapter 11 Petition filed February 3, 2015

In re Luis Gil
   Bankr. W.D. Tex. Case No. 15-30169
      Chapter 11 Petition filed February 3, 2015

In re Ram Rao Mugili
   Bankr. W.D. Tex. Case No. 15-50347
      Chapter 11 Petition filed February 3, 2015

In re Mis Tres Properties, LLC
   Bankr. W.D. Tex. Case No. 15-50356
      Chapter 11 Petition filed February 3, 2015
         See http://bankrupt.com/misc/txwb15-50356.pdf
         represented by: William R. Davis, Jr., Esq.
                         LANGLEY & BANACK, INC.
                         E-mail: wrdavis@langleybanack.com

In re Steven David Smith
   Bankr. W.D. Wis. Case No. 15-10325
      Chapter 11 Petition filed February 3, 2015

In re C & K Trucking, Inc.
   Bankr. M.D. Ala. Case No. 15-10234
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/almb15-10234.pdf
         represented by: J. Kaz Espy, Esq.
                         ESPY, METCALF & ESPY, P.C.
                         E-mail: lynnia@espymetcalf.com

In re Jacob Vayner DMD ProfessionalCorporation
        aka Esthetic Smile Dental
            Jacob Vayner DMD A Professional DentalCo
   Bankr. C.D. Cal. Case No. 15-10353
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/cacb15-10353.pdf
         represented by: Aslan Khodorovsky, Esq.
                         LAW OFFICES OF KHODOROVSKY & MERRIT
                         E-mail: merritlaw@yahoo.com

In re Thomas E. Williams and Linda Williams
   Bankr. C.D. Cal. Case No. 15-10561
      Chapter 11 Petition filed February 4, 2015

In re Irma Zamora
   Bankr. N.D. Cal. Case No. 15-10117
      Chapter 11 Petition filed February 4, 2015

In re Amore, Inc.
   Bankr. S.D. Ind. Case No. 15-00602
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/insb15-00602.pdf
         represented by: Eric C. Redman, Esq.
                         REDMAN LUDWIG, P.C.
                         E-mail: ksmith@redmanludwig.com

In re Rebeca A. Poole
   Bankr. D. Md. Case No. 15-11558
      Chapter 11 Petition filed February 4, 2015

In re North Oak Shops, LLC
   Bankr. W.D. Mo. Case No. 15-40269
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/mowb15-40269.pdf
         represented by: Ronald S. Weiss, Esq.
                         BERMAN DELEVE KUCHAN & CHAPMAN
                         E-mail: rweiss@bdkc.com

In re Caring Hands Healthcare Agency LLC
   Bankr. D.N.J. Case No. 15-11945
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/njb15-11945.pdf
         represented by: Edward K. Osei, Esq.
                         E-mail: edward@oseilawfirm.com

In re Guy Henry, DDS, MS, LLC
   Bankr. D.N.J. Case No. 15-11981
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/njb15-11981.pdf
         represented by: Robert A. Loefflad, Esq.
                         FORD FLOWER HASBROUCK & KING
                         E-mail: rloefflad@ffhklaw.com

In re Omni Home LLC
   Bankr. E.D.N.Y. Case No. 15-40452
      Chapter 11 Petition filed February 4, 2015
         See http://bankrupt.com/misc/nyeb15-40452.pdf
         Filed Pro Se

In re Grady Cole Odom
   Bankr. D.S.C. Case No. 15-00623
      Chapter 11 Petition filed February 4, 2015

In re THINK4INC
   Bankr. D. Ariz. Case No. 15-01090
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/azb15-01090.pdf
         represented by: Thomas H. Allen, Esq.
                         ALLEN MAGUIRE & BARNES, PLC
                         E-mail: tallen@ambazlaw.com

In re JTK Industries, Inc.
        dba Lapels Dry Cleaning
   Bankr. D. Ariz. Case No. 15-01120
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/azb15-01120.pdf
         represented by: Thomas G. Luikens, Esq.
                         AYERS & BROWN, P.C.
                         E-mail: Thomas.Luikens@azbar.org

In re The Downtown Church
   Bankr. E.D. Cal. Case No. 15-10402
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/caeb15-10402.pdf
         represented by: Peter L. Fear, Esq.

In re 7CS Corp.
        dba Rubber Service Corp.
   Bankr. D. Colo. Case No. 15-11037
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/cob15-11037.pdf
         represented by: Stephen E. Berken, Esq.
                         LAW OFFICES OF STEPHEN BERKEN
                         E-mail: admin@berkenlegal.com

In re William Deane Turner, III
   Bankr. M.D. Fla. Case No. 15-01119
      Chapter 11 Petition filed February 5, 2015

In re Bryan Elstein
   Bankr. S.D. Fla. Case No. 15-12229
      Chapter 11 Petition filed February 5, 2015

In re Mosaic Meadows, Inc.
   Bankr. S.D. Ind. Case No. 15-00645
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/insb15-00645.pdf
         represented by: Wendy D. Brewer, Esq.
                         JEFFERSON & BREWER, LLC
                         E-mail: wbrewer@jeffersonbrewer.com

In re Minerva M. Miranda
   Bankr. D. Nev. Case No. 15-10557
      Chapter 11 Petition filed February 5, 2015

In re MS & Sons Corporation
        aka Omni Homes LLC
   Bankr. E.D.N.Y. Case No. 15-40471
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/nyeb15-40471.pdf
         Filed Pro Se

In re Thomas M. Rall
   Bankr. W.D.N.Y. Case No. 15-10199
      Chapter 11 Petition filed February 5, 2015

In re Pier 1 Marine, Inc.
   Bankr. W.D. Okla. Case No. 15-10377
      Chapter 11 Petition filed February 5, 2015
         See http://bankrupt.com/misc/okwb15-10377.pdf
         represented by: Christopher T. Stein, Esq.
                         E-mail: steinlawfirm@hotmail.com

In re Pablo Lorenzo, MD and Rita Lorenzo
   Bankr. W.D. Tex. Case No. 15-50364
      Chapter 11 Petition filed February 5, 2015

In re Carol Ann Porter
   Bankr. W.D. Wash. Case No. 15-10671
      Chapter 11 Petition filed February 5, 2015

In re John C. Pike and Amelita E. Pike
   Bankr. W.D. Wash. Case No. 15-40457
      Chapter 11 Petition filed February 5, 2015

In re CRS Pizza, Inc.
   Bankr. S.D. Ala. Case No. 15-00369
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/alsb15-00369.pdf
         represented by: C. Michael Smith, Esq.
                         PAUL AND SMITH, P.C.
                         E-mail: paulandsmithpc@earthlink.net

In re Early Scholars Education Inc.
   Bankr. C.D. Cal. Case No. 15-10380
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/cacb15-10380.pdf
         Filed Pro Se

In re Jennifer Margaret Horton
   Bankr. C.D. Cal. Case No. 15-11860
      Chapter 11 Petition filed February 6, 2015

In re National Emergency Medical Services Association
        fdba NEMSA
             National EMS Association
   Bankr. E.D. Cal. Case No. 15-90109
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/caeb15-90109.pdf
         represented by: David C. Johnston, Esq.

In re Reynold Jean-Pierre and Clautide Jean-Pierre
   Bankr. S.D. Fla. Case No. 15-12359
      Chapter 11 Petition filed February 6, 2015

In re Bronko's of Crown Point, Inc.
   Bankr. N.D. Ind. Case No. 15-20232
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/innb15-20232.pdf
         represented by: Gordon E. Gouveia, Esq.
                         GORDON E. GOUVEIA, LLC
                         E-mail: geglaw@gouveia.comcastbiz.net

In re Mestizo, Inc.
        aka Mestizo Restaurant
   Bankr. M.D. La. Case No. 15-10125
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/lamb15-10125.pdf
         represented by: Patrick S. Garrity, Esq.
                         STEFFES, VINGIELLO, & MCKENZIE, LLC
                         E-mail: pgarrity@steffeslaw.com

In re Shivem, Inc.
   Bankr. D. Md. Case No. 15-11745
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/mdb15-11745.pdf
         represented by: Augustus T. Curtis, Esq.
                         COHEN, BALDINGER & GREENFELD, LLC
                         E-mail: augie.curtis@cohenbaldinger.com

In re Anthony Paul Enterprises, Inc.
        dba Balzarini Realty, LLC
            A&P Cleaning Services, Inc.
            Allied Equipment & Supply
            On Call Cleaning Corp.
            Athena Equipment & Supply, Inc.
   Bankr. D. Mass. Case No. 15-10412
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/mab15-10412.pdf
         represented by: Laurel E. Bretta, Esq.
                         BRETTA & GRIMALDI, P.A.
                         E-mail: bglaw@lbretta.com

In re J&J Undercar Specialists, Inc.
   Bankr. D.N.J. Case No. 15-12179
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/njb15-12179.pdf
         represented by: Anthony Sodono, III, Esq.
                         TRENK, DIPASQUALE, DELLA FERA & SODONO
                         E-mail: asodono@trenklawfirm.com

In re A Special Place for Kids, Inc.
   Bankr. E.D.N.Y. Case No. 15-40500
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/nyeb15-40500.pdf
         represented by: Kenneth Halpern, Esq.
                         LAW OFFICE OF KENNETH HALPERN
                         E-mail: kjhalpern@gmail.com

In re Media Design, Inc.
   Bankr. S.D. Tex. Case No. 15-30791
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/txsb15-30791.pdf
         represented by: Matthew Brian Probus, Esq.
                         WAUSON & PROBUS
                         E-mail: mbprobus@w-plaw.com

In re David Carl Sappington and Patricia Ann Sappington
   Bankr. E.D. Va. Case No. 15-30581
      Chapter 11 Petition filed February 6, 2015

In re Zoo Health Club LLC
        aka Fremont Health Club
   Bankr. W.D. Wash. Case No. 15-10719
      Chapter 11 Petition filed February 6, 2015
         See http://bankrupt.com/misc/wawb15-10719.pdf
         represented by: Henry K. Chae, Esq.
                         HENRY CHAE LAW, PLLC
                         E-mail: henrykchae@outlook.com
In re Lynda A. Adams
   Bankr. C.D. Cal. Case No. 15-10231
      Chapter 11 Petition filed February 9, 2015

In re Jerome Hampton
   Bankr. D. Md. Case No. 15-11819
      Chapter 11 Petition filed February 9, 2015

In re Star Healthcare Registry LLC
   Bankr. S.D. Miss. Case No. 15-00419
      Chapter 11 Petition filed February 9, 2015
         See http://bankrupt.com/misc/mssb15-00419.pdf
         represented by: John D. Moore, Esq.
                         JOHN D. MOORE, P.A.
                         E-mail: john@johndmoorepa.com

In re Town & Country Masonry and Tuckpointing, LLC
   Bankr. E.D. Mo. Case No. 15-40776
      Chapter 11 Petition filed February 9, 2015
         See http://bankrupt.com/misc/moeb15-40776.pdf
         represented by: Rochelle D. Stanton, Esq.
                         E-mail: rstanton@rochelledstanton.com

In re Bill Robert Reingruber
   Bankr. D. Nev. Case No. 15-10592
      Chapter 11 Petition filed February 9, 2015

In re Olayinka O. Oluwole
   Bankr. D.N.J. Case No. 15-12247
      Chapter 11 Petition filed February 9, 2015



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

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 ***