TCR_Public/150226.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 26, 2015, Vol. 19, No. 57

                            Headlines

134-31 HOOK CREEK: Foreclosure Sale Set for March 20
2412 GROUP: Files for Ch 11; Sec. 341(a) Meeting Set for March 18
38 61 10TH STREET: Faces Foreclosure Sale on March 27
ACCENTIA BIOPHARMACEUTICALS: KCG Reports 6.96% Stake as of Dec. 31
ACTIVECARE INC: Posts $2.7 Million Net Loss for Dec. 31 Quarter

ALLEN SYSTEMS: Disclosure Statement & Plan Hearing Set for March 26
AMERICAN AIRLINES: Moody's Alters Outlook to Pos & Affirms B1 CFR
AMERICAN AXLE: Reports $143 Million Net Income for 2014
AMERICAN MEDIA: Posts $9.9 Million Net Income for Third Quarter
AMERICAN SPECTRUM: Receives Delisting Notice From NYSE MKT

APOLLO MEDICAL: Incurs $1.7 Million Net Loss in Second Quarter
ARCHDIOCESE OF ST. PAUL: To Sell Four Properties to Pay Creditors
ARMSTRONG WORLD: Moody's Alters Ratings Outlook to Negative
BAXANO SURGICAL: Assets Sold for $7.8-Mil. to Four Buyers
BERNARD L. MADOFF: 5th Distribution Brings 48.8% Total Recovery

BRUCE HIMMELFARB: Designation No Reason to Violate Confidentiality
C. WONDER: Chapter 11 Cases Jointly Administered
C. WONDER: US Trustee Forms Five-Member Creditor's Committee
CACHE INC: Nantahala Reports 5.6% Stake as of Dec. 31
CAESARS ENTERTAINMENT: Receives Demand Letter From Trustee

CAESARS ENTERTAINMENT: Seeks Approval of Plan Agreement
CASPIAN SERVICES: Reports $2.8 Million Net Loss for Dec. 31 Qtr.
CHARLOTTE RUSSE: S&P Raises CCR to 'B+' on Improved Credit Metrics
CHASSIX INC: Works to Finalize Pre-Arranged Bankruptcy
COLLAVINO CONSTRUCTION: Says Port Authority Owes Co. $87MM

CONNEAUT LAKE: Taxing Authorities Want Sale If Payments Not Made
COVINGTON COAL: Case Summary & 20 Largest Unsecured Creditors
CROSS ISLAND REO: Foreclosure Sale Set for March 27
CWNZ PURCELLVILLE: Files for Ch 11; Sec 341(a) Meeting on March 26
DAVID DRUMM: Blames Lawyers for Bad Result in Court

DIGICEL LIMITED: Fitch Expects to Rate New $925MM Sr. Notes 'B'
DIGICEL LIMITED: Moody's Assigns 'B1' Rating on New $925MM Notes
DISH NETWORK: S&P Affirms 'BB-' CCR, Off CreditWatch Negative
DISTRICT OF COLUMBIA CANCER: Files for Chapter 7 Liquidation
DOLAN COMPANY: Asks Court to Extend Deadline to Remove Suits

DUNE ENERGY: Alexander Kulpecz Quits as Director
DUNE ENERGY: Eos Petro Extends Tender Offer Expiration Anew
DUNKIN' BRANDS: S&P Withdraws 'B+' CCR After Debt Paydown
ENDEAVOUR INT'L: Smedvig Funds Reports 13.6% Stake as of Dec. 31
ENDEAVOUR INT'L: Steelhead Owns 5.7% Stake as of Dec. 31

ENDEAVOUR INTERNATIONAL: McClain et al No Longer Own Shares
ENDEAVOUR INTERNATIONAL: Samberg Reports 7.7% Stake
ENERGY FUTURE: Lenders Okay Use of $750MM to Repay 2nd Lien Notes
ENERGY FUTURE: Majority of Lenders Support $750-Mil. Cash Use
EVERYWARE GLOBAL: Appoints SVP of Operations & Supply Chain

FAIRPOINT COMMUNICATIONS: Union Workers Accept New Contract
FLINTKOTE COMPANY: Seeks Oct. 31 Extension of Exclusive Periods
FOODS INC: Two Buyers Approved to Purchase Most of Assets
FOURTH QUARTER: MLIC et al. Want Case Moved to Wyoming
GARRETT PROPERTIES: Case Summary & 7 Largest Unsecured Creditors

GENERAL MOTORS: JPMorgan Loses Secured Interest on $1.5BB Loan
GENMAR HOLDINGS: Lousy Lawyering Results in $65,000 Preference
GETHSEMANE CHURCH LAFAYETTE: Case Summary & 4 Top Unsec Creditors
GFI GROUP: Moody's Reviews for Downgrade 'B1' Debt Ratings
GLYECO INC: Obtains $3.5 Million From Private Placement

HEPAR BIOSCIENCE: Pork By-Products Supplier Enters Chapter 11
HEPAR BIOSCIENCE: Seeks Approval to Use Cash Collateral
HOME LOAN: Moody's Reviews 'B3' CFR for Upgrade
HUFFMAN CONSTRUCTION: Case Summary & 11 Top Unsecured Creditors
IBAHN CORP: Chapter 11 Case is Dismissed

INFINITY ENTERPRISES: Case Summary & 20 Top Unsecured Creditors
INT'L FOREIGN EXCHANGE: Liquidating Plan Approved
INTELLIPHARMACEUTICS INT'L: Incurs $3.8 Million Loss in 2014
IVANHOE ENERGY: To Delist Shares From Toronto Stock Exchange
JOSEPH LODATO: Foreclosure Auction Set for March 20

LATTICE SEMICONDUCTOR: S&P Assigns 'BB-' CCR; Outlook Stable
MAPLE HEIGHTS CITY: Moody's Cuts GOLT Debt Rating to 'Ba2'
MERCY MEDICAL: S&P Puts 'BB' 2000 Bonds Rating on Watch Positive
METALICO INC: Adam Weitsman Submits $0.78 Apiece Proposal
METALICO INC: Hires Gordian for Strategic Review

MINERAL PARK: Trucks Fraught With Safety Issues, Inspector Says
NASSAU TOWER: Court to Close Bankruptcy Case on March 17
NICHOLS CREEK: RS2 LLC Balks at Whitney Bank's Bid to Dismiss Case
NII HOLDINGS: Vanguard Group No Longer Holds Shares
NNN 1818 MARKET STREET: Opposes Daymark's Case Dismissal Motion

NPS PHARMACEUTICALS: Shire Completes Acquisition
NUINSCO RESOURCES: TSX Initiates Remedial Delisting Review
OMNOVA SOLUTIONS: Moody's Says Shareholder Deal Avoids Proxy Fight
OZ GAS: Gets Court Approval of Premium Finance Agreement With PAC
PANHANDLE EASTERN: Fitch Affirms 'BB' Rating on Jr. Sub. Notes

PARK FLETCHER: Schedules Filing Extended to March 17
PARK FLETCHER: Seeks to Use FOE Cash Collateral
PARK FLETCHER: Wants Lender to Turnover Rents
PARLIAMENT HOUSE: Exits Chapter 11 Bankruptcy Protection
PERFETTI TRUCKING: Case Summary & 20 Largest Unsecured Creditors

PREMIER GOLF: Case Summary & 20 Largest Unsecured Creditors
PULSE ELECTRONICS: To Restart Submission of Periodic Reports
QUALITY TEAM MANAGEMENT: Case Summary & 11 Top Unsec. Creditors
RADIOSHACK CORP: Cerberus Fights CDS Cash-Out Claims in Ch. 11
RADIOSHACK CORP: Litespeed Reports 8.8% Stake as of Dec. 31

RADIOSHACK CORP: Urges Fast Sales for 'Melting Ice Cube' of Assets
RADIOSHACK CORP: Vanguard Reports 2.97% Stake
RADIOSHACK CORP: Wants Sale to Standard General Moved to March 26
RESEARCH NOW: S&P Affirms 'B' CCR; Outlook Stable
RESIDENTIAL CAPITAL: Defective Mortgage Suits Mostly Survives

RESTORGENEX CORP: David Smith Reports 5.5% Stake as of May 12
RIVIERA HOLDINGS: Issued Non-Voting Shares to Warrant Holders
RIVIERA HOLDINGS: S&P Discontinues 'CCC+' CCR Over Casino Sale
RON'S PROPERTIES: Voluntary Chapter 11 Case Summary
SAINT CATHERINE: To Close Indiana Hospital; Sale Talks Ongoing

SALADWORKS LLC: Says Vernon Hill Lawsuit Made Finding Buyer Hard
SAMUEL WYLY: Plans to Sell Off Art, Antiques
SANDRINE'S LIMITED: Sold for $776,000
SANJAC SECURITY: Voluntary Chapter 11 Case Summary
SCH CORP: Court Says Payment Extension Counts as Plan Modification

SIGA TECHNOLOGIES: Jet Capital Reports 9.14% Stake
SIGA TECHNOLOGIES: Prescott Group Reports 5.5% Stake
SILICON GENESIS: Lists $16.5-Mil. in Assets, $7.9-Mil. in Debt
SILICON GENESIS: Seeks Authority to Use Cash Collateral
SPENDSMART NETWORKS: Turns Profit in January

STAG INDUSTRIAL: Fitch Rates $139MM Preferred Stock 'BB'
TENET HEALTHCARE: Reports $12 Million Net Income for 2014
TRANS ENERGY: To Present at Enercom's Oil & Services Conference
TRAVELPORT WORLDWIDE: Reports $43 Million Net Loss for Q4
TRAVELPORT WORLDWIDE: Travelport Intermediate Reports 10% Stake

US COAL: Court Approves 'Adequate Protection' Payments to Lenders
WCI COMMUNITIES: Stonehill Capital Reports 25.8% Stake
WET SEAL: Ameriprise, Columbia Management No Longer Hold Stake
WET SEAL: Committee Wrangles Changes in Purchase Price
WET SEAL: Hudson Bay Discloses 9.99% Stake as of Dec. 31

WPCS INTERNATIONAL: Settles Debt with Zurich American Insurance
YONKERS INDUSTRIAL: Moody's Cuts 2004 Bonds Rating to 'Ba2'
YRC WORLDWIDE: Incurs $85.8 Million Net Loss in 2014
[*] Bankruptcies May Have Bottomed Out at 59,000 in January
[*] Second-Lien Financings Began Drying Up in Middle of Last Year

[] Independent Contractors Can Be Fired for Bankruptcy
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

134-31 HOOK CREEK: Foreclosure Sale Set for March 20
----------------------------------------------------
Pursuant to judgment of foreclosure and sale entered Dec. 2, 2014,
Craig David Zim, Esq., at Novick Edelstein in Yonkers, as referee,
will sell at public auction in Courtroom #25 of the Queens County
Supreme Court, 88-11 Sutphin Blvd., Jamaica, NY on March 20, 2015,
at 10:00 a.m., the premises known as 134-31 Hook Creek Blvd.,
Queens, NY a/k/a Block 13219, Lot 0009.

The approximate amount of judgment is $28,107.73 plus costs and
interest. The premises will be sold subject to terms and conditions
of filed judgment and terms of sale.

The case is, NYCTL 1998-2 TRUST SUCCESSOR IN INTEREST TO NYCTL
2011-A TRUST AND THE BANK OF NEW YORK MELLON AS COLLATERAL AGENT
AND CUSTODIAN, Pltf. vs. 134-31 HOOK CREEK BOULEVARD, LLC, et al,
Defts, pending before the Supreme Court of Queens County.

The Plaintiffs are represented by lawyers at:

     SHAPIRO, DICARO, BARAK, LLC
     105 Maxess Rd., Ste. N109
     Melville, NY


2412 GROUP: Files for Ch 11; Sec. 341(a) Meeting Set for March 18
-----------------------------------------------------------------
2412 Group, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. D.C. Case No. 15-00073) on Feb. 12, 2015, estimating its
assets and debts at between $1 million and $10 million each.  The
petition was signed by Bentley V. Plummer, president.

Judge Martin Teel, Jr., presides over the case.  Richard H. Gins,
Esq., at The Law Office of Richard H. Gins LLC serves as the
Company's bankruptcy counsel.

A Section 341(a) meeting is scheduled for March 18, 2015, at 2:00
a.m.

Proofs of claim are due by June 26, 2015.

2412 Group, Inc., is headquartered in Washington, DC.


38 61 10TH STREET: Faces Foreclosure Sale on March 27
-----------------------------------------------------
Pursuant to a Judgment of Foreclosure and Sale dated November 21,
2014 and entered on December 8, 2014, Catherine R. Glover, Esq., as
referee, will sell at public auction at the Queens County Supreme
Courthouse 88 11 Sutphin Blvd in Courtroom # 25, Jamaica, NY on
March 27, 2015 at 10:00 a.m., the premises known as 38 61 10th
Street, Astoria, NY.  The approximate amount of the lien is
$11,560.62 plus interest and costs.  The premises will be sold
subject to provisions of filed judgment and terms of sale.

The Foreclosure case is, NYCTL 2012 A TRUST, and THE BANK OF NEW
YORK MELLON, as Paying Agent and Collateral Agent and Custodian for
the NYCTL 2012 A TRUST, Plaintiffs against 38 61 10TH STREET CORP.,
et al Defendant(s), pending before the Supreme Court County of
Queens.

The Plaintiffs are represented by lawyers at:

     SEYFARTH SHAW LLP
     620 Eighth Avenue
     New York, NY 10018


ACCENTIA BIOPHARMACEUTICALS: KCG Reports 6.96% Stake as of Dec. 31
------------------------------------------------------------------
KCG Americas LLC 22-3660471 disclosed in a Schedule 13G filing with
the Securities and Exchange Commission that as of December 31,
2014, it may be deemed to beneficially own 6,251,241 shares or
roughly 6.96% of the common stock of Accentia Biopharmaceuticals,
Inc., based on outstanding shares reported in the Company's Form
10-Q filed with the SEC for the period ended December 31, 2012.

A copy of the filing is available at http://is.gd/cpvrvo

                  About Accentia Biopharmaceuticals

Headquartered in Tampa, Florida, Accentia Biopharmaceuticals, Inc.
(PINK: "ABPI") -- http://www.Accentia.net/-- is a biotechnology
company that is developing Revimmune as a system of care for the
treatment of autoimmune diseases.  Through subsidiary, Biovest
International, Inc., it is developing BiovaxID as a therapeutic
cancer vaccine for treatment of follicular non-Hodgkin's lymphoma
(FL) and mantle cell lymphoma (MCL).  Through subsidiary,
Analytica International, Inc., it conducts a health economics
research and consulting business, which it market to the
pharmaceutical and biotechnology industries, using its operating
cash flow to support its corporate administration and product
development activities.

Accentia BioPharmaceuticals and nine affiliates filed for
Chapter 11 protection (Bankr. M.D. Fla. Lead Case No. 08-17795) on
Nov. 10, 2008.  Accentia emerged from bankruptcy on Nov. 17, 2012,
after receiving confirmation of a reorganization plan on Nov. 2,
2010.

The Company incurred a net loss of $9.18 million for the year
ended Sept. 30, 2012, compared with a net loss of $15.65 million
during the prior year.

The Company's balance sheet at Dec. 31, 2012, showed $2.81 million
in total assets, $89.21 million in total liabilities, and a
$86.39 million total stockholders' deficit.

Accentia Biopharmaceuticals last delivered financial reports to the
Securities and Exchange Commission in February 2013.  In a Form NT
10-Q filed in June 2013, the Company said that, due to its lack of
operating funds and decrease in personnel, it "is unable to
complete and timely file its Quarterly Report on Form 10-Q for
period ended June 30, 2013 due on August 14, 2013."


ACTIVECARE INC: Posts $2.7 Million Net Loss for Dec. 31 Quarter
---------------------------------------------------------------
ActiveCare, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $2.71 million on $1.50
million of chronic illness monitoring revenues for the three months
ended Dec. 31, 2014, compared to a net loss attributable to common
stockholders of $5.15 million on $2 million of chronic illness
monitoring revenues for the same period a year ago.

As of Dec. 31, 2014, ActiveCare had $4.10 million in total assets,
$10.95 million in total liabilities and a $6.84 million total
stockholders' deficit.

"The Company continues to incur negative cash flows from operating
activities and net losses.  The Company had negative working
capital and negative total equity as of September 30, 2014 and
December 31, 2014 and is in default with respect to certain debt.
These factors, among others, raise substantial doubt about the
Company's ability to continue as a going concern," according to the
Form 10-Q.

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

                        http://is.gd/JPmdkW

                          About ActiveCare

South West Valley City, Utah-based ActiveCare, Inc., is organized
into three business segments based primarily on the nature of the
Company's products.  The Stains and Reagents segment is engaged in
the business of manufacturing and marketing medical diagnostic
stains, solutions and related equipment to hospitals and medical
testing labs.  The CareServices segment is engaged in the business
of developing, distributing and marketing mobile health monitoring
and concierge services to distributors and customers.  The Chronic
Illness Monitoring segment is primarily engaged in the monitoring
of diabetic patients on a real time basis.

The Company's business plan is to develop and market products for
monitoring the health of and providing assistance to mobile and
homebound seniors and the chronically ill, including those who may
require a personal assistant to check on them during the day to
ensure their safety and well being.

ActiveCare reported a net loss attributable to common stockholders
of $16.4 million for the year ended Sept. 30, 2014, compared to a
net loss attributable to common stockholders of $27.5 million for
the year ended Sept. 30, 2013.

Tanner LLC, in Salt Lake City, Utah, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Sept. 30, 2014.  The independent auditors noted that
the Company has recurring losses, negative cash flows from
operating activities, negative working capital, negative total
equity, and certain debt that is in default.  These conditions, the
auditors said, among others, raise substantial doubt about the
Company's ability to continue as a going concern.


ALLEN SYSTEMS: Disclosure Statement & Plan Hearing Set for March 26
-------------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware will convene a hearing on March 26, 2015, at 2:00 p.m.,
prevailing Eastern Time, to consider the adequacy of the disclosure
statement explaining Allen Systems Group, Inc., et al.'s
prepackaged reorganization plan and confirmation of the Plan.

Any objections to the Disclosure Statement or confirmation of the
Plan must be filed on or before March 19.

As previously reported by The Troubled Company Reporter, the
Debtors sought Chapter 11 bankruptcy protection with a prepackaged
Chapter 11 plan that reduces its secured debt load from over $666
million to $240 million.

The Debtors commenced the Chapter 11 cases in order to effectuate a
consensual balance sheet restructuring pursuant to the Plan, which,
pursuant to a Plan Support Agreement is supported by 100% of the
Debtors' first lien lenders, and the holders of in excess of 72% of
the Debtors' second lien notes and the holder of 100% of the
existing equity interests in ASG.

The Debtors intend to effect a balance sheet restructuring pursuant
to the Plan under which, except as otherwise provided in the Plan,
the Domestic Credit Facility and Foreign Credit Facility will be
repaid in full on the Effective Date unless two-thirds in amount of
claims under the Domestic Credit Facility and the Foreign Credit
Facility agree to less favorable treatment, and ASG will cancel the
Notes Claims in exchange for the Notes Claims Stock representing
41.5% of Reorganized ASG's New Common Stock; in addition, Eligible
Holders of Notes Claims will receive Subscription Rights to
participate in the Rights Offering to acquire their pro rata share
of the Rights Offering Stock, representing the remaining 58.5% of
Reorganized ASG's New Common Stock.  The Debtors' general unsecured
creditors, other than holders of Notes Deficiency Claims and Allen
Claims, will be paid in full, and existing equity securities in ASG
will be cancelled.

Copies of the Plan and Disclosure Statement are available for free
at:

     http://bankrupt.com/misc/Allen_Systems_Disclosures.pdf
     http://bankrupt.com/misc/Allen_Systems_Plan.pdf

                        About Allen Systems

Allen Systems Group, Inc., and two affiliates provide
mission-critical enterprise information technology ("IT")
management software solutions to large enterprises and small and
medium-sized businesses.  Founded in 1986 by Arthur L. Allen in
Naples, Florida, ASG has more than 100 offices worldwide, primarily
in the United States and Europe.  As of Feb. 17, 2015, ASG had
1,054 employees in 114 locations in 25 countries.

Allen Systems and two affiliates sought Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 15-10332) in Delaware on Feb.
18, 2015.  The case is assigned to Judge Kevin J. Carey.

The Debtor tapped Pachulski Stang Ziehl & Jones LLP as counsel;
Latham & Watkins LLP as special counsel; and Epiq Bankruptcy
Solutions as claims and noticing agent.

Allen Systems estimated $100 million to $500 million in assets and
$500 million to $1 billion in debt.


AMERICAN AIRLINES: Moody's Alters Outlook to Pos & Affirms B1 CFR
-----------------------------------------------------------------
Moody's Investors Service changed its rating outlook on American
Airlines Group, Inc. to positive from stable, upgraded four of the
company's Enhanced Equipment Trust Certificates, and affirmed all
other ratings including the B1 Corporate Family Rating.

The positive outlook reflects Moody's expectation of improving
operating profit and free cash flow in 2015 because of the sharp
drop in the cost of jet fuel, leading to significantly stronger
credit metrics.  Moody's anticipates Debt to EBITDA of less than
four times and EBIT to Interest approaching five times at the end
of 2015, using an average fuel price assumption of $1.97 per
gallon.  "The positive outlook balances the expected improvement in
metrics this year against the potential for fuel prices to retrace
their recent decline, the uncertainty of how much of the aircraft
order book will be funded with new debt and risk in the integration
of the operating systems of American Airlines and US Airways," said
Senior Credit Officer, Jonathan Root. "Using debt to fund about 50%
or more of the about $5.0 billion of annual aircraft capital
expenditures while producing meaningful free cash flow would forego
opportunities to strengthen the balance sheet to help contain
future increases in leverage when the cost of jet fuel increases or
during troughs in passenger demand,' continued Root.  Nevertheless,
the positive outlook contemplates that the combination of AAG's
leading market position, the potential for fuel costs to remain
below their 2014 peak level through 2016 and the company's very
good liquidity can mitigate increases in funded debt and
integration risks, such that credit metrics can remain supportive
of a Ba rating beyond 2015.

The upgrades of the three A-tranche EETCs (AWA: 2001-1, US Airways:
2000-2 and 2000-3) reflect growing equity cushions of these
transactions in the next 15 months to above 60% based on Moody's
estimates of loan-to-values and continuing relevance of the
respective aircraft collateral to the combined operation.  AAG will
retrofit the cabins of each of the A319s in each of these
transactions as part of a $2.0 billion Customer Improvements
program announced this past December.  The fourth EETC upgrade in
this action, American Airlines Series 2011-1 B-tranche to Ba1 from
Ba2, levels the rating of this tranche with the ratings of other of
the company's B-tranches with similar LTVs.  The Boeing B737-800
and B777-200ER aircraft in this transaction will also remain core
to the company's network over the remaining life of this
transaction.

The ratings could be upgraded if the company sustains unrestricted
cash (excluding cash in Venezuela) above $6.0 billion while the
merger integration is ongoing. Metrics, such as Debt to EBITDA
approaching 4.0 times, EBIT to Interest of about 3.0 times, an
EBITDA margin of about 20% and Retained Cash Flow to Net Debt that
approaches 20% could support an upgrade of the ratings.
Conservative allocation of free cash flow to shareholders that
facilitates more measured debt issuance, be it for funding aircraft
capital expenditures or for general corporate purposes will be an
important consideration for any possible rating upgrade.  A
negative rating action could follow if unrestricted cash fell below
$4.0 billion.  The inability to control non-fuel operating costs or
to sustain competitive yields, either of which would challenge the
company to maintain its operations over the long-term could also
lead to a downgrade. Debt to EBITDA that approaches 6.5 times, EBIT
to Interest that approaches 1.5 times or an EBITDA margin that
approaches 17% or sustained negative free cash flow generation
could pressure the ratings.

American Airlines Group ("AAG") is the holding company for American
Airlines, Inc. and US Airways, Inc.  Together with American Eagle
and US Airways Express, these airlines operate an average of nearly
6,700 flights per day to 339 destinations in 54 countries from
their hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles,
Miami, New York, Philadelphia, Phoenix and Washington, D.C. With
annual revenue of more than $42 billion, AAG is the largest
passenger airline in the world, measured by annual revenues.

Upgrades:

Issuer: America West Airlines, Inc.

   -- Series 1998-1A Tranche Enhanced Equipment Trust, Upgraded
      to Baa1 from Baa2

Issuer: American Airlines, Inc.

   -- Series 2011-1B Tranche Enhanced Equipment Trust, Upgraded
      to Ba1 from Ba2

Issuer: US Airways, Inc.

   -- Series 2000-2G Tranche Enhanced Equipment Trust, Upgraded
      to Baa1 from Baa3

   -- Series 2000-3G Tranche Enhanced Equipment Trust, Upgraded
      to Baa1 from Baa3

Affirmations:

Issuer: America West Airlines, Inc.

   -- Series 1999-1G Tranche Enhanced Equipment Trust, Affirmed
      Baa3

   -- Series 2000-1G Tranche Enhanced Equipment Trust, Affirmed
      Baa3

   -- Series 2001-1G Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 1998-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

Issuer: American Airlines Group Inc.

   -- Probability of Default Rating, Affirmed B1-PD

   -- Speculative Grade Liquidity Rating, Affirmed SGL-1

   -- Corporate Family Rating, Affirmed B1

   -- Senior Unsecured Regular Bond/Debenture Oct 1, 2019,
      Affirmed B3 (LGD5)

Issuer: American Airlines, Inc.

   -- Senior Secured Bank Credit Facilities Oct 10, 2019,
      Affirmed Ba2 (LGD2)

   -- Series 2001-1A Tranche Enhanced Equipment Trust, Affirmed
      B2

   -- Series 2011-1A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 2001-1B Tranche Enhanced Equipment Trust, Affirmed
      Caa3

   -- Series 2001-1C Tranche Enhanced Equipment Trust, Affirmed
      Caa3

Issuer: Hillsborough County Aviation Authority, FL

   -- Senior Secured Revenue Bonds Jan 15, 2022, Affirmed B3
      (LGD5)

Issuer: Indianapolis Airport Authority, IN

   -- Revenue Bonds Jul 1, 2019, Affirmed B3 (LGD5)

Issuer: Pennsylvania Economic Dev. Fin. Auth.

   -- Senior Unsecured Revenue Bonds, Affirmed B3 (LGD5)

Issuer: Phoenix Industrial Development Authority, AZ

   -- Senior Unsecured Revenue Bonds Apr 1, 2023, Affirmed B3
      (LGD5)

   -- Senior Unsecured Revenue Bonds Jun 1, 2019, Affirmed B3
      (LGD5)

Issuer: Port Authority of New York and New Jersey

   -- Revenue Bonds Dec 1, 2015, Affirmed B3 (LGD 5)

Issuer: US Airways Group, Inc.

   -- Multiple Seniority Shelf May 24, 2015, Affirmed (P)B3

   -- Senior Unsecured Regular Bond/Debenture Jun 1, 2018,
      Affirmed B3 (LGD5)

Issuer: US Airways, Inc.

   -- Senior Secured Bank Credit Facilities Affirmed Ba2 (LGD2)

   -- Series 1998-1A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 1999-1A and A2 Tranches Enhanced Equipment Trusts,
      Affirmed Baa1

   -- Series 2001-1G Tranche Enhanced Equipment Trust, Affirmed
      Baa2

   -- Series 2010-1A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 2011-1A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 2012-1A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 2012-2A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 2013-1A Tranche Enhanced Equipment Trust, Affirmed
      Baa1

   -- Series 1998-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 1999-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 2010-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 2011-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 2012-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 2012-2B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 2013-1B Tranche Enhanced Equipment Trust, Affirmed
      Ba1

   -- Series 1998-1C Tranche Enhanced Equipment Trust, Affirmed
      B1

   -- Series 1999-1C Tranche Enhanced Equipment Trust, Affirmed
      Ba3

   -- Series 2000-3C Tranche Enhanced Equipment Trust, Affirmed
      B2

   -- Series 2001-1C Tranche Enhanced Equipment Trust, Affirmed
      Ba3

   -- Series 2012-1C Tranche Enhanced Equipment Trust, Affirmed
      B1

   -- Series 2012-2C Tranche Enhanced Equipment Trust, Affirmed
      B1

Outlook Actions:

Issuer: America West Airlines, Inc.

   -- Outlook, Changed To Positive From Stable

Issuer: American Airlines Group Inc.

   -- Outlook, Changed To Positive From Stable

Issuer: American Airlines, Inc.

   -- Outlook, Changed To Positive From Stable

Issuer: US Airways Group, Inc.

   -- Outlook, Changed To Positive From Stable

Issuer: US Airways, Inc.

   -- Outlook, Changed To Positive From Stable

The methodologies used in these ratings were Global Passenger
Airlines published in May 2012 and Enhanced Equipment Trust And
Equipment Trust Certificates published in December 2010.  Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.


AMERICAN AXLE: Reports $143 Million Net Income for 2014
-------------------------------------------------------
American Axle & Manufacturing Holdings, Inc. filed with the U.S.
Securities and Exchange Commission its annual report on Form 10-K
disclosing net income of $143 million on $3.69 billion of net sales
for the year ended Dec. 31, 2014, compared with net income of $94.5
million on $3.20 billion of net sales during the prior year.

As of Dec. 31, 2014, American Axle had $3.25 billion in total
assets, $3.14 billion in total liabilities and $113.4 million in
total stockholders' equity.

"2014 was a very successful year for AAM.  AAM's sales growth
outpaced the industry in 2014 and our financial performance was
highlighted by improved profitability and a positive inflection in
cash flow generation," said AAM's Chairman, President and Chief
Executive Officer, David C. Dauch.  "As we look to the future, we
remain focused on delivering our plan to sustain strong free cash
flow performance while leveraging AAM's technology leadership to
develop innovative, market driven products to achieve profitable
growth and business diversification."

A full-text copy of the Form 10-K is available for free at:

                         http://is.gd/1O0o63

                         Amends Q3 Form 10-Q

On Feb. 19, 2015, the Audit Committee of the Board of Directors of
American Axle, after discussion with management and the Company's
independent registered public accounting firm, Deloitte & Touche
LLP, concluded that the financial statements contained in the
Company's quarterly report on Form 10-Q for the period ended Sept.
30, 2014, as previously filed with the SEC on Oct. 31, 2014, should
no longer be relied upon.

In connection with the preparation of the Company's consolidated
financial statements for the year ended Dec. 31, 2014, the Company
determined that entries recorded in the third quarter of 2014 to
reduce certain accrued accounts payable balances by $8.4 million
were previously recorded as a reduction of cost of goods sold but
should have been recorded as an adjustment to opening accumulated
deficit because the amounts giving rise to the correction
originated in periods prior to Jan. 1, 2012.  While management
determined that it was necessary to restate the Sept. 30, 2014,
interim period and revise management's conclusion regarding the
effectiveness of disclosure controls and procedures as a result of
a material weakness in internal controls over financial reporting,
the effect of correcting these errors was not material to opening
accumulated deficit as of Jan. 1, 2012.  The cumulative impact of
the error was a decrease of $6.9 million in opening accumulated
deficit as of Jan. 1, 2012.

As restated, the Company reported net income of $44 million on
$950.8 million of net sales for the three months ended Sept. 30,
2014, compared to net income of $48.6 million on $950.8 million of
net sales as reported.

For the nine months ended Sept. 30, 2014, the Company disclosed a
restated net income of $130 million on $2.75 billion of net sales
compared to net income of $134 million on $2.75 billion of net
sales as originally reported.

The Company restated balance sheet at Sept. 30, 2014, showed $3.22
billion in total assets, $3.05 billion in total liabilities and
$171.6 million in total stockholders' equity.

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

                         http://is.gd/e1TZIL

                          About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- manufactures,
engineers, designs and validates driveline and drivetrain systems
and related components and chassis modules for light trucks, sport
utility vehicles, passenger cars, crossover vehicles and
commercial vehicles.

                           *     *     *

In September 2012, Moody's Investors Service affirmed the 'B1'
Corporate Family Rating (CFR) and Probability of Default Rating
(PDR) of American Axle.

American Axle carries a 'BB-' corporate credit rating from
Standard & Poor's Ratings Services.  "The 'BB-' corporate credit
rating on American Axle reflects the company's 'weak' business
risk profile and 'aggressive' financial risk profile, which
incorporate substantial exposure to the highly cyclical light-
vehicle market," S&P said, as reported by the TCR on Sept. 6,
2012.

As reported by the TCR on Sept. 1, 2014, Fitch Ratings had
upgraded the Issuer Default Ratings (IDRs) of American Axle &
Manufacturing Holdings, Inc. (AXL) and its American Axle &
Manufacturing, Inc. (AAM) subsidiary to 'BB-' from 'B+'.  The
upgrade of the IDRs for AXL and AAM is supported by the
fundamental improvement in the drivetrain and driveline supplier's
credit profile over the past several years.


AMERICAN MEDIA: Posts $9.9 Million Net Income for Third Quarter
---------------------------------------------------------------
American Media, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
attributable to the Company of $9.96 million on $70.68 million of
total operating revenues for the three months ended Dec. 31, 2014,
compared to a net loss of $50.38 million on $74.64 million of total
operating revenues for the same period a year ago.

For the nine months ended Dec. 31, 2014, the Company reported a net
loss attributable to the Company of $32.07 million on $223 million
of total operating revenues compared to a net loss attributable to
the Company of $52.4 million on $256 million of total operating
revenues during the prior year.

As of Dec. 31, 2014, American Media had $529.37 million in total
assets, $568 million in total liabilities, $3 million in redeemable
non-controlling interests and a $41.8 million total stockholders'
deficit.

The Company's former second-largest wholesaler ceased operations in
May 2014 and filed for bankruptcy in June 2014.  The Company
currently working with the two remaining major wholesalers and
retailers to transition the newsstand circulation to them.  This is
expected to have an adverse impact on single copy newsstand sales
and liquidity in fiscal 2015.  

"There can be no assurances that, after completing the transition
of newsstand circulation, our revenue will not be temporarily or
permanently reduced if consumers at the impacted retailers do not
resume purchasing our publications at the same rate or quantities
previously purchased or if the transition to certain retailers is
not successful," the Company said.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/EWdGV3

On Feb. 23, 2015, representatives of American Media began making
presentations to investors regarding the Company using the slides.
The Company used the Slides, in whole or in part, and possibly with
modifications, in connection with presentations to investors,
analysts and others that commenced
Feb. 23, 2015.  A copy of the presentation materials is available
at http://is.gd/YqFWyQ

                       About American Media

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

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

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

                           *     *     *

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

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


AMERICAN SPECTRUM: Receives Delisting Notice From NYSE MKT
----------------------------------------------------------
American Spectrum Realty, Inc., a real estate investment management
and leasing company, on Feb. 25 disclosed that it has received a
letter indicating that the staff of NYSE Regulation, Inc. has
determined to commence proceedings to delist the Company's common
stock from the NYSE MKT LLC.  Trading in the Company's common stock
has been halted on a continuous basis since NYSE Regulation
initiated a trading halt on April 15, 2014. Trading in the
Company's common stock was immediately suspended intra-day on
February 19, 2015. As determined by NYSE Regulation, the suspension
is the result of:

   -- the Company's inability to complete its outstanding SEC
filings, per Sections 134 and 1101 of the NYSE MKT Company Guide;

   -- the financial condition of the Company, which is so impaired
that it appears questionable, in the opinion of the NYSE MKT, as to
whether the Company will be able to continue operations and/or meet
its obligations as they mature, per Section 1003(a)(iv) of the
Company Guide; and

   -- the Company's failure to timely disclose corporate events per
Section 1003(d) of the Company Guide.

As previously disclosed on November 14, 2014 and January 8, 2015,
the Company had submitted plans to the NYSE MKT outlining steps to
regain compliance with the requirements of the Company Guide and
the NYSE MKT had granted the Company a period through February 19,
2016 for the Company to regain compliance as outlined in its plans
of compliance, so long as the Company made progress consistent with
such plans.  However, due to the financial condition of the
Company, the Company was unable to make progress consistent with
such plans, and accordingly, the Board has determined it to be in
the best interest of the Company and its shareholders to not appeal
NYSE Regulation's delisting determination.

Currently, the Company's shares of common stock are quoted on the
Pink Sheets, LLC under the symbol "AQQS".

              About American Spectrum Realty, Inc.

American Spectrum Realty, Inc. -- http://www.asrmanagement.com/--
is a real estate investment company that owns, through an operating
partnership, interests in office, industrial/commercial, retail,
self-storage, retail, multi-family properties and undeveloped land
throughout the United States.  American Spectrum Management Group,
Inc., a wholly-owned subsidiary of the Company, manages and leases
all properties owned by American Spectrum Realty, Inc. as well as
for third-party clients, totaling 7 million square feet in multiple
states.


APOLLO MEDICAL: Incurs $1.7 Million Net Loss in Second Quarter
--------------------------------------------------------------
Apollo Medical Holdings, Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss attributable to the Company of $1.69 million on $7.64
million of net revenues for the three months ended Dec. 31, 2014,
compared to a net loss attributable to the Company of $965,000 on
$2.83 million of net revenues for the same period a year ago.

For the nine months ended Dec. 31, 2014, the Company reported a net
loss attributable to the Company of $1.99 million on $23.4 million
of net revenues compared to a net loss attributable to the Company
of $3.87 million on $7.97 million of net revenues for the same
period during the prior year.

As of Dec. 31, 2014, the Company had $15.02 million in total
assets, $16.5 million in total liabilities, and a $1.47 million
total stockholders' deficit.

At Dec. 31, 2014, the Company had cash equivalents of approximately
$7 million compared to cash and cash equivalents of approximately
$6.8 million at March 31, 2014.  At Dec. 31, 2014, the Company had
borrowings totaling $8.6 million compared to borrowings at March
31, 2014, of $6.7 million.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/8dNMju

                        About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss of $4.55 million for the year
ended Jan. 31, 2014, following a net loss of $8.90 million for the
year ended Jan. 31, 2013.


ARCHDIOCESE OF ST. PAUL: To Sell Four Properties to Pay Creditors
-----------------------------------------------------------------
The Associated Press reports that The Archdiocese of St. Paul and
Minneapolis' chief financial officer, Tom Mertens, said in a
creditors' committee meeting on Feb. 24, 2015, that the Archdiocese
will seek a bankruptcy trustee's permission to possibly sell
properties to help pay creditors.

The Archdiocese is planning to sell a property in Northfield and
three St. Paul buildings, including the chancery, The AP relates,
citing Mr. Mertens.  According to the report, Mr. Mertens said that
the Archdiocese will consider leasing office space elsewhere.

Elizabeth Mohr, writing for TwinCities.com, reports that Mr.
Mertens said during the meeting that the Archdiocese didn't move
funds in the year before it filed for bankruptcy protection to
avoid paying victims of clergy sexual abuse.  Citing Mr. Mertens,
the report states that because parishioners were concerned that
their donations are being used to pay for legal expenses related to
claims of sex abuse, independent fund Catholic Services Appeal
Foundation was established to assure donors that their money would
be used only for ministry programs.

According to TwinCities.com, Mr. Mertens said during the meeting
that about 60% of the Archdiocese's revenue comes from assessments
of parishes, and last year it amounted to about $15.5 million.

TwinCities.com quoted Mr. Mertens as saying, "I think the filing
was (the result of) the number of claims we had against us, which
was in excess of 20, and notice of claims served, which numbered
about 120."

Martin Moylan at Mprnews.org relates that five alleged victims of
clergy sex abuse have been named to the committee.  The report says
that the Archdiocese and attorneys for abuse victims hope that
insurance will cover a large portion of abuse claims that will be
settled through the bankruptcy process, with church insurers
potentially providing $100 million or more.  According to the
report, insurers are contesting coverage claims by the Archdiocese,
with some companies claiming they owe the Archdiocese nothing for
claims related to abusers whom the church identified but failed to
stop.

Mprnews.org states that there is probably more than $100 million in
the priest and lay employee pension plans overseen by the
Archdiocese, but the Archdiocese officials say the pensions are not
archdiocese property and "our understanding is that the plan assets
should not be available to the creditors."  The report adds that
the Archdiocese contends that the plans currently do not have
enough money to pay future obligations.

                   About Archdiocese of St. Paul

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

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

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

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

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

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


ARMSTRONG WORLD: Moody's Alters Ratings Outlook to Negative
-----------------------------------------------------------
Moody's Investors Service changed Armstrong World Industries,
Inc.'s rating outlook to negative from positive following the
company's announcement that it is separating its flooring business
from its ceilings (building products) business, creating two
independent publicly traded companies.  In related rating actions,
Moody's affirmed Armstrong's ratings.

The following ratings/assessments were also affected by this
action:

   -- Corporate Family Rating affirmed at B1

   -- Probability of Default Rating affirmed at B1-PD

   -- Senior Secured Revolving Credit Facility due 2018 affirmed
      at B1 (LGD3)

   -- Senior Secured Term Loan A due 2018 affirmed at B1 (LGD3)

   -- Senior Secured Term Loan B due 2020 affirmed at B1 (LGD3)

   -- Speculative grade liquidity rating affirmed at SGL-2.

The change in Armstrong's rating outlook to negative from positive
reflects the uncertainty surrounding Armstrong's new capital
structure, earnings, free cash flow potential and future liquidity
profile once flooring is separated from ceilings (building
products).  Armstrong recently announced that the separation of its
businesses will allow each division with little existing overlap to
focus on its respective markets and future growth opportunities.
The separation is intended to be a tax-free spin-off of the
Flooring business to the Company's shareholders, and is expected to
be completed in the first quarter of 2016.  This announcement
follows Armstrong's decision in December 2014 to exit its European
flooring business ("DLW"), which posted an operating loss of $23.7
million for 2014, and to cease further funding this subsidiary. DLW
subsequently filed for insolvency in Germany.  Moody's estimates
the flooring business represents about 50% of Armstrong's revenues
and approximately 25% of its forward-guidance EBITDA, after
corporate expenses.  Armstrong will need to amend its bank credit
agreement to allow the spin-off.

Armstrong's B1 Corporate Family Rating remains appropriate at this
time.  However, key debt credit metrics weaken on a pro form basis
following the spin-off of the flooring business due to the loss of
revenues and earnings.  Moody's estimates leverage increasing to
the range of 4.5x - 4.75x from about 3.5x at FYE14, and interest
coverage, measured as EBITA-to-interest expense, falling to 3.25x
-- 3.5x from approximately 4.5x for 2014 (all ratios incorporate
Moody's standard adjustments).

Armstrong's SGL-2 Speculative Grade Liquidity Rating reflects the
company's ability to generate free cash flow throughout the year,
and $185.3 million of cash on hand at FYE14, providing sufficient
financial flexibility to meet any potential shortfall in operating
cash flow to cover its working capital and capital expenditure
needs over the near term.

Stabilization of Armstrong's ratings could ensue once the new
capital structure and resulting credit metrics have been determined
after the flooring business is separated from ceilings (building
products).  Resulting adjusted debt credit metrics supporting
stabilization of ratings would be leverage below 4.75x, or interest
coverage, measured as EBITA-to-interest, above 2.5x.

A downgrade could occur if Armstrong's new debt capital structure
results in adjusted credit metrics such that leverage is sustained
5.5x, interests coverage is 1.5x, or there is a deterioration in
the company's liquidity.

Armstrong World Industries, Inc. ("Armstrong"), headquartered in
Lancaster, PA, is a global manufacturer and distributor of flooring
products and ceiling systems for use primarily in the construction
and renovation of residential, commercial and institutional
buildings.  The Asbestos Personal Injury Settlement Trust
("Asbestos Trust") and affiliates of ValueAct Group are the
majority shareholder of Armstrong, each owning about 17% of the
company's stock.  Revenues for the 12 months through Dec. 31, 2014
totaled approximately $2.5 billion.

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


BAXANO SURGICAL: Assets Sold for $7.8-Mil. to Four Buyers
---------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Baxano Surgical Inc., a maker of devices for
minimally invasive spine surgery, got court approval Jan. 29 to
sell assets for an aggregate of about $7.8 million to ExWorks
Capital Fund I LP, Choice Spine LP, Quandary Medical LLC and City
Surgical LLC.

According to the report, before the auction, ExWorks was offering
$4 million for assets used in developing and selling the company's
iO-Flex and iO-Tome product lines and bone-graft harvesting
products.  ExWorks ended up with the high bid of $5.53 million for
those assets, the report related.

                       About Baxano Surgical

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

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

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

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

The Official Committee of Unsecured Creditors selected Pillsbury
Winthrop Shaw Pittman LLP and Morris, Nichols, Arsht & Tunnell LLP
as co-counsel.  The Committee also tapped Urbanowicz Consulting,
LLC, as consultant.

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


BERNARD L. MADOFF: 5th Distribution Brings 48.8% Total Recovery
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Bernard Madoff's victims are receiving a fifth
distribution of $355.8 million, bringing the total recovery to 48.8
percent for those not already paid in full.

According to the report, the new distribution of 2.7 percent begun
on Feb. 6 was about $33 million larger than the estimate Irving
Picard, the trustee unwinding Bernard L. Madoff Investment
Securities LLC, made when seeking court approval for the payments
in December.  Made to creditors of record on Jan. 15, the
distribution largely became possible thanks to $642 million
recovered in late 2014, the report related.

                     About Bernard L. Madoff

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

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

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

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

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

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

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


BRUCE HIMMELFARB: Designation No Reason to Violate Confidentiality
------------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Chief U.S. District Judge Susan Oki Mollway in
Honolulu ruled in January that even if a party improperly
designated all discovery documents as "confidential," that doesn't
excuse violation of a confidentiality order.

According to the report, on appeal, Judge Mollway upheld a
bankruptcy court's holding an individual in Chapter 11 in contempt
for violating confidentiality order, saying that even if the
designations of confidential material were overbroad, that didn't
excuse a willful violation of the confidentiality order.

The case is In re Himmelfarb, 14-00352, U.S. Bankruptcy Court,
District of Hawaii (Honolulu).


C. WONDER: Chapter 11 Cases Jointly Administered
------------------------------------------------
The Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey ordered that the Chapter 11 bankruptcy cases
of C. Wonder LLC and its debtor-affiliates will be jointly
administered and that parties should consult the docket for Case
No. 15-11127 for all matters relevant to the within
jointly-administered cases.

                           About C. Wonder

Founded by J. Christopher Burch in 2010, C. Wonder is a specialty
retailer with retail stores in the United States.  With
headquarters in New York, the company sells women's clothing,
jewelry, shoes, handbags and other accessories as well as select
home goods under the C. Wonder brand.  The Company maintains two
distribution centers in New Jersey.

The Company opened its first retail store in New York in 2011.  By
2014, the Company had expanded its operations to include 29
locations across 13 states including its flagship location in Soho,
New York.  Amid mounting losses, C. Wonder closed 16 of its retail
stores by the end of 2014.   C. Wonder closed 9 additional stores
in January 2015.  As of the bankruptcy filing, C. Wonder had four
retail stores in the U.S. (Soho, Flat Iron, Time Warner Center and
Manhasset).

C. Wonder LLC and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 15-11127) in Trenton, New
Jersey on Jan. 22, 2015.  The cases are assigned to Judge Michael
B. Kaplan.

The Debtors have tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A., as counsel, and Marotta, Gund, Budd & Dzera, LLC, as crisis
management services provider.

As of the Filing Date, the Debtors had assets with a book value of
$43.7 million and liabilities of $61.0 million.


C. WONDER: US Trustee Forms Five-Member Creditor's Committee
------------------------------------------------------------
Andrew R. Vara, the U.S. Trustee for Region 3, appointed five
creditors to serve on the Official Committee of Unsecured Creditors
for the bankruptcy cases of C. Wonder LLC and its
debtor-affiliates.

The members of the Committee are:

  a) Simon Property Group, Inc.
     and its affiliated entities
     225 W. Washington Street
     Indianapolis, IN 46204
     Tel.: (317) 636-1600
     Fax: (317) 263-7901
     Attn: Catherine Martin, Esq.
          (Co-Chairperson)

  b) KRG Enterprises, Inc.
     9901 Blue Grass Road
     Philadelphia, PA 19114
     Tel.: (215) 708-2811, Ext. 207
     Fax: (215) 335-2448
     Attn: Robert Oulahan, CFO

  c) Fisher Design, LLC
     777 W. Putnam Avenue
     Greenwich, CT 06880
     Tel.: (203) 302-2885
     Fax: (203) 302-2985
     Attn: Matthew Burris, CFO
           (Co-Chairperson)

  d) Al Tayer Trends, LLC
     P.O. Box 2623
     Dubai, United Arab Emirates
     Tel.: + 971 4 201 1775
     Fax: + 971 4 282 4559
     Attn: Timothy Frost, Esq.

  e) Popular Talent Co., Ltd.
     Room 1702, Sino Centre
     5582-592 Nathan Road
     Mongkok, Kowloon, Hong Kong
     Tel.: (0769) 82311399
     Fax: (0769) 82313192
     Attn: Tera Lin

                           About C. Wonder

Founded by J. Christopher Burch in 2010, C. Wonder is a specialty
retailer with retail stores in the United States.  With
headquarters in New York, the company sells women's clothing,
jewelry, shoes, handbags and other accessories as well as select
home goods under the C. Wonder brand.  The Company maintains two
distribution centers in New Jersey.

The Company opened its first retail store in New York in 2011.  By
2014, the Company had expanded its operations to include 29
locations across 13 states including its flagship location in Soho,
New York.  Amid mounting losses, C. Wonder closed 16 of its retail
stores by the end of 2014.   C. Wonder closed 9 additional stores
in January 2015.  As of the bankruptcy filing, C. Wonder had four
retail stores in the U.S. (Soho, Flat Iron, Time Warner Center and
Manhasset).

C. Wonder LLC and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 15-11127) in Trenton, New
Jersey on Jan. 22, 2015.  The cases are assigned to Judge Michael
B. Kaplan.

The Debtors have tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A., as counsel, and Marotta, Gund, Budd & Dzera, LLC, as crisis
management services provider.

As of the Filing Date, the Debtors had assets with a book value of
$43.7 million and liabilities of $61.0 million.


CACHE INC: Nantahala Reports 5.6% Stake as of Dec. 31
-----------------------------------------------------
Nantahala Capital Management, LLC said in a Schedule 13G filing
with the Securities and Exchange Commission that as of December 31,
2014, it may be deemed to be the beneficial owner of 1,727,057
shares of common stock of Cache, Inc.  Nantahala added it may be
deemed to be the beneficial owner of 5.6% of the total number of
Shares outstanding (based upon information provided by the Company
on Form 10-Q filed November 12, 2014, there were 31,037,384 Shares
outstanding as of November 7, 2014).  A copy of the filing is
available at http://is.gd/DAAqoe

                        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 (Bankr. D. Del. Case No. 15-10172) on
Feb. 4, 2015.  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.

The U.S. Trustee for Region 3 has appointed seven members to the
Official Committee of Unsecured Creditors in the Debtors' case.


CAESARS ENTERTAINMENT: Receives Demand Letter From Trustee
----------------------------------------------------------
Caesars Entertainment Corporation, on Feb. 18, 2015, received a
demand for payment of guaranteed obligations from BOKF, N.A., in
its capacity as successor trustee for the 12.75% Second-Priority
Senior Secured Notes due 2018 issued under the Indenture, dated as
of April 16, 2010, by and among Caesars Entertainment Operating
Company, Inc., a majority owned subsidiary of CEC, CEC and U.S.
Bank National Association, as former trustee.

According to a document filed with the Securities and Exchange
Commission, the Notice alleges that CEC has unconditionally
guaranteed the obligations of CEOC under the Indenture and the
Notes, including CEOC's obligation to timely pay all principal,
interest and any premium due on the Notes, and demands that CEC
immediately pay the Trustee cash in an amount of not less than $750
million, plus accrued and unpaid interest, accrued and unpaid
attorneys' fees and other expenses and all other monetary
obligations of CEOC to the holders and Trustee under the Indenture
due to CEOC's commencement of a voluntary case under Chapter 11 of
the U.S. Bankruptcy Code.  The Notice also alleges that the
interest, fees and expenses continue to accrue.

The Company asserts it is not subject to the Alleged CEC Guarantee
and, as a result, the Trustee's demand is meritless.

                   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% 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.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.


CAESARS ENTERTAINMENT: Seeks Approval of Plan Agreement
-------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Caesars Entertainment Operating Co. is seeking
bankruptcy court approval of an agreement laying the cornerstone
for the casino owner’s reorganization.

According to the report, the latest version of the support
agreement, dated Jan. 14, is the product of discussions with
holders of more than 80%, or $5 billion of first-lien debt and has
support from 20% of secured bank lenders with $1 billion in
claims.

                    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% 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.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.


CASPIAN SERVICES: Reports $2.8 Million Net Loss for Dec. 31 Qtr.
----------------------------------------------------------------
Caspian Services, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.86 million on $6.09 million of total revenues for the three
months ended Dec. 31, 2014, compared to a net loss of $699,000 on
$9.75 million of total revenues for the same period in 2013.

As of Dec. 31, 2014, the Company had $66.3 million in total assets,
$103.6 million in total liabilities, all current, and a $37.3
million total deficit.

"Our ability to continue as a going concern is dependent upon,
among other things, our ability to (i) successfully restructure our
financial obligations to EBRD and Investor, (ii) increase our
revenues and improve our operating results to a level that will
allow us to service our financial obligations, and/or (iii) attract
other significant sources of funding and a return to higher world
oil prices.  Uncertainty as to the outcome of each of these events
raises substantial doubt about our ability to continue as a going
concern," the Company said in the Report.

At Dec. 31, 2014, the Company had cash on hand of $3.50 million
compared to cash on hand of $1.96 million as of Sept. 30, 2014.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/rd82Mu

                       About Caspian Services

Headquartered in Salt Lake City, Caspian Services, Inc., was
incorporated under the laws of the state of Nevada on July 14,
1998.  Since February 2002 the Company has concentrated its
business efforts to provide diversified oilfield services to the
oil and gas industry in western Kazakhstan and the Caspian Sea,
including providing a fleet of vessels, onshore, transition zone
and marine seismic data acquisition and processing services and a
marine supply and support base in the port of Bautino, in Bautino
Bay, Kazakhstan.

Caspian reported a net loss of $18.8 million on $29.9 million of
total revenue for the year ended Sept. 30, 2014, compared with a
net loss of $11.8 million on $33.08 million of total revenues for
the year ended Sept. 30, 2013.

The Company's independent auditors, Haynie & Company, P.C., in Salt
Lake City, Utah, issued a "going concern" qualification on the 2014
consolidated financial statements citing that, "[A] Company
creditor has indicated that it believes the Company may be in
violation of certain covenants of certain substantial financing
agreements.  The financing agreements have acceleration right
features that, in the event of default, allow for the loan and
accrued interest to become immediately due and payable."  According
to the auditors, as a result of this uncertainty, the Company has
included the note payable and all accrued interest as current
liabilities at Sept. 30, 2014.  At Sept. 30, 2014, the Company had
negative working capital of $85.0 million and for the year ended
Sept. 30, 2014, the Company had a net loss of $16.6 million."


CHARLOTTE RUSSE: S&P Raises CCR to 'B+' on Improved Credit Metrics
------------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Charlotte Russe Inc. to 'B+' from 'B'.  The outlook is
stable.  At the same time, S&P raised the issue-level rating on the
senior secured term loan facility to 'B+' from 'B'.  The recovery
rating on the term loan remains '4', indicating S&P's expectations
for average recovery (30%-50%) in the event of a default.

"The rating action reflects our expectation for continued lower
debt levels and credit metrics that will remain relatively stable
over the next 12 months, driven by our anticipation of continued
somewhat moderated financial policies along with good operating
performance," said credit analyst Helena Song.  "We are projecting
modest same-store sales and margin gains in 2015."

The stable outlook reflects S&P's view that credit metrics will be
relatively stable over the next 12 months, as S&P expects company
financial policy to remain moderated over this time period.  S&P is
also forecasting company operating performance in 2015 to be in
line with 2014.

Upside scenario

S&P could raise the rating if the company's private equity sponsors
were to sell off a significant ownership stake, causing S&P to view
the company's financial policies more favorably.  In addition,
credit metrics would further improve, with leverage approaching
3.0x.  For example, this could happen if the company reduces debt
by $50 million and EBITDA grows by 10%.

Downside scenario

S&P could lower the ratings if the company's operating performance
is weaker than expected, resulting in leverage approaching the
mid-4.0x.  A likely scenario for this to occur would be if
merchandise missteps resurface or a significant slowdown in
consumer spending negatively affects performance.  As a result, the
company would have to increase its promotional activity to drive
sales.  Under this scenario, same-store sales would be negative and
margins would erode by more than 300 bps, leading to leverage
around the mid-4.0x.  A negative rating action could also result
from more aggressive financial policy leading to higher leverage.



CHASSIX INC: Works to Finalize Pre-Arranged Bankruptcy
------------------------------------------------------
Matt Jarzemsky and Mike Spector, writing for Daily Bankruptcy
Review, reported that Chassix Inc., a supplier of steering
knuckles, control arms and brake components to large auto makers,
is working to finalize a restructuring plan with creditors and seek
bankruptcy protection as soon as next week, said people familiar
with the matter.

According to the Journal, citing the people, the Southfield, Mich.,
company, owned by private-equity firm Platinum Equity LLC, is
negotiating a prearranged bankruptcy plan that would hand ownership
stakes to creditors in exchange for forgiving debt and rework
contracts with big auto makers including General Motors Co. and
Ford Motor Co.  The company aims to have the plan in place before a
bankruptcy filing with a goal of streamlining its trip through
court, the Journal related.

                     *     *     *

The Troubled Company Reporter, on Nov. 24, 2014, reported that
Moody's Investors Service downgraded the Corporate Family and
Probability of Default Ratings of Chassix, Inc. to Caa2 and
Caa2-PD, from Caa1 and Caa1-PD, respectively.  The company's $375
million 9.25% notes were downgraded to Caa2 from Caa1.  The rating
of the $150 million notes of Chassix Holdings, Inc., an
intermediate holding company of Chassix, Inc., were downgraded to
Ca from Caa3.

Moody's said the downgrade of the Corporate Family Rating to Caa2
reflects the uncertainty surrounding the company's current
operating performance and the increased likelihood that additional
restructuring actions may need to be taken given the company's high
debt level and weak operations.


COLLAVINO CONSTRUCTION: Says Port Authority Owes Co. $87MM
----------------------------------------------------------
Katherine Clarke at New York Daily News reports that Collavino
Construction Company Limited claims that it is struggling to stay
afloat after the Port Authority of New York and New Jersey refused
to pay up $87 million for services the Company rendered.

The Port Authority hired the Company in 2007 to construct the
105-floor concrete superstructure for the 1 World Trade Center.
According to the Daily News, the Company said that it successfully
completed the work in 2013.

The Daily News relates that a business entity tied to Collavino
Construction Company has filed for Chapter 11 bankruptcy
protection, claiming it can't afford to pay its suppliers until
it's been paid.

The Company, the Daily News reports, said that it is facing seven
separate lawsuits from various subcontractors and suppliers.

                   About Collavino Construction

Family-owned The Collavino Group owns entities that operate in
various sectors of the construction industry in the New York-New
Jersey metropolitan area, Canada, and the Detroit metropolitan
area.  With over half a century's experience in the construction
industry, the Collavino Group performs contracts in both the public
and private sectors as a general contractor, design-build
consultant, construction manager and prime subcontractor for
cast-in-place and precast concrete works.

Pursuant to World Trade Center Contract No. WTC-1001.04-1,
Collavino Construction Company Limited ("CCCL") contracted with The
Port Authority of New York and New Jersey on the public
construction project known as the Reconstruction of One World Trade
Center - Freedom Tower.  Collavino Construction Company Inc.
("CCCI"), a subsidiary of CCCL, provides all the necessary labor to
CCCL in connection with the performance of work on the WTC
Project.

As a result of, among other things, delays to the progress of work
caused by conditions beyond the control of CCCL and CCCI, and the
Port Authority's unilateral election to terminate the contract with
CCCL for convenience, effective as of Jan. 18, 2013, CCCL incurred
a multi-million dollar damage claim against the Port Authority on
the WTC Project.

CCCI sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
14-12908) in Manhattan on Oct. 17, 2014, estimating $1 million to
$10 million in assets and debt.  CCCL sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 15-10344) on Feb. 18, 2015, estimating
$50 million to $100 million in assets and $1 million to
$10 million in liabilities.

Judge Shelley C. Chapman presides over the cases.  The Court has
entered an order approving joint administration of the two cases.

The Debtors have tapped Cullen and Dykman LLP as counsel, and
Peckar & Abramson, P.C., as special litigation counsel.

CCCI obtained an order extending by 90 days (a) the exclusive
period during which only the Debtor may file a plan through and
including May 15, 2015, and (b) the exclusive period to solicit
acceptances of a Chapter 11 plan for the Debtor through and
including July 14, 2015.


CONNEAUT LAKE: Taxing Authorities Want Sale If Payments Not Made
----------------------------------------------------------------
Valerie Myers at Erie Times-News reports that Jeffery Deller, chief
judge of the U.S. Bankruptcy Court of the Western District of
Pennsylvania was slated to consider at a hearing on Feb. 24, 2015
the request of Crawford County, Conneaut School District and local
townships to allow the Park's sale if they don't receive interest
on back taxes owed to them, plus payments toward 2015 taxes.

According to court documents, Larry Bolla, Esq., the attorney for
the taxing bodies, is asking that the Park be required to pay the
interest in $6,958 monthly installments.  Mr. Bolla is also asking
that taxing authorities be allowed to place additional liens on the
Park for unpaid 2014 taxes, and that the Park be required to pay
$5,000 monthly toward 2015 taxes.

Erie Times-News recalls that the bankruptcy filing by the Park's
trustees stopped a sheriff sale scheduled for Dec. 5, 2014.

Erie Times-News says that the Park owes $927,813 in 1996-2013 real
estate taxes to local taxing authorities, including Summit and
Sadsbury townships in Crawford County.  Mr. Bolla said in court
filings that the two townships are entitled to 9% interest on that
amount, or $83,503 a year.

George Snyder, Esq., the attorney for the Park's trustees, filed an
objection to Mr. Bolla's motion, saying that the Park has more than
sufficient assets to pay its tax debt, and taxing authorities will
have a priority claim as the Park reorganizes its finances, Erie
Times-News states.  Court documents show that the Park's property
is valued at more than $3 million.

Citing Mr. Snyder, Erie Times-News relates that taxing authorities
could also be entitled to a $611,000 insurance settlement on the
Park's Beach Club due to their claims, and that issue should be
resolved before the Bankruptcy Court imposes interest payments.

Mr. Snyder, Erie Times-News reports, said that the Park will apply
for tax-exempt status as a public trust before 2015 taxes are due,
so it should not be required to make monthly payments toward future
tax obligations.  The Park simply cannot make monthly payments,
either for future taxes or interest on tax debt, as "summer is its
prime season.  Winter is not.  Conneaut Lake Park is currently
closed, and virtually no revenue is generated during the winter and
spring seasons to fund equal monthly payments," the report quoted
Mr. Snyder as saying.

                     About Conneaut Lake Park

Conneaut Lake Park is a summer amusement resort, located in
Conneaut Lake, Pennsylvania.

Trustees of Conneaut Lake Park, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Pa. Case No. 14-11277) in Erie, Pennsylvania,
on Dec. 4, 2014.  The case is assigned to Judge Thomas P. Agresti.
The Debtor tapped George T. Snyder, Esq., at Stonecipher Law Firm,
in Pittsburgh, as counsel.  The Debtor estimated assets and debt of
$1 million to $10 million.

Trustees of Conneaut Lake Park filed for bankruptcy protection less
than 20 hours before the Crawford County amusement park was
scheduled to go to sheriff's sale for almost $930,000 in back taxes
and related fees.


COVINGTON COAL: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Covington Coal Company, LLC
        P O Box C
        Charleston, WV 25365

Case No.: 15-20079

Chapter 11 Petition Date: February 24, 2015

Court: United States Bankruptcy Court
       Southern District of West Virginia (Charleston)

Judge: Hon. Ronald G. Pearson

Debtor's Counsel: Brian Richard Blickenstaff, Esq.
                  TURNER & JOHNS, PLLC
                  216 Brooks St, Suite 200
                  Charleston, WV 25301
                  Tel: 304 -720-2300
                  Fax: 304-720-2311
                  Email: bblickenstaff@turnerjohns.com

Total Assets: $1.08 million

Total Liabilities: $9.26 million

The petition was signed by Peter K. Moran, president and managing
member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/wvsb15-20079.pdf


CROSS ISLAND REO: Foreclosure Sale Set for March 27
---------------------------------------------------
Pursuant to a Judgment of Foreclosure and Sale entered on Jan. 20,
2015, Eli Babaev, Esq., as referee will sell at public auction at
the Queens County Supreme Courthouse 88 11 Sutphin Blvd in
Courtroom # 25, Jamaica, NY on March 27, 2015, at 10:00 a.m., the
premises known as 442 Beach 64th Street, Arverne, NY.  The
approximate amount of the lien is $11,582.61 plus interest and
costs.  The premises will be sold subject to the provisions of
filed judgment and terms of sale.

The case is, NYCTL 2012 A TRUST AND THE BANK OF NEW YORK MELLON, AS
COLLATERAL AGENT AND CUSTODIAN, Plaintiffs against CROSS ISLAND REO
INC., et al Defendant(s), pending before the Supreme Court County
of Queens.

The Plaintiffs are represented by lawyers at:

     PHILLIPS LYTLE LLP
     1400 First Federal Plaza
     Rochester, NY 14614


CWNZ PURCELLVILLE: Files for Ch 11; Sec 341(a) Meeting on March 26
------------------------------------------------------------------
CWNZ Purcellville, LLC, filed for Chapter 11 bankruptcy protection
(Bankr. E.D. Va. Case No. 15-10534) on Feb. 16, 2015.

The Company estimated its assets at between $50,001 and $100,000
and its liabilities at between $500,001 and $1 million, according
to Aaron Gregg at The Washington Post.  The report says that
Ibrahim Zarou, the Company's largest unsecured creditor, is owed
$450,000.

Frank Bredimus, Esq., at the Law Office of Frank Bredimus serves as
the Company's bankruptcy counsel.  Robert G. Mayer presides over
the case.

The Section 341(a) meeting of creditors will be held on March 26,
2015, at 2:00 p.m. at Office of the U.S. Trustee (Chapter 11), 115
South Union Street, Suite 208, Alexandria, Virginia.

Proofs of claim are due by June 24, 2015.  Governmental unit proof
of claim must be filed by Sept. 22, 2015.  Complaint for
determination of dischargeability of debt must be filed by May 26,
2015.

CWNZ Purcellville, LLC, is based in Ashburn, Virginia.


DAVID DRUMM: Blames Lawyers for Bad Result in Court
---------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that David K. Drumm, the former chief executive
officer of Anglo Irish Bank Corp., blamed his lawyers and financial
advisers for mistakes that resulted in a finding that he knowingly
and fraudulently concealed transfers of cash and real estate to his
wife.

According to the report, in a 122-page ruling in January, U.S.
Bankruptcy Judge Frank J. Bailey in Boston said Drumm was "not
remotely credible" in his testimony at a trial over the transfers.
The judge denied Drumm a discharge, meaning his debts will survive
bankruptcy, even though a trustee will sell his assets, the report
related.

In papers outlining his arguments on appeal, Drumm said he fully
disclosed all transactions to his professional advisers and
followed their advice in how to show the transfers in his official
lists of assets, debt and transactions that Bailey found to be
false, the report further related.

The appeal is Drumm v. Dwyer (In re Drumm), 15-cv-10184, U.S.
District Court, District of Massachusetts (Boston).

The lawsuit on Drumm's discharge is Irish Bank Resolution Corp.
Ltd. v. Drumm (In re Drumm), 11-01267, U.S. Bankruptcy Court,
District of Massachusetts (Boston).


DIGICEL LIMITED: Fitch Expects to Rate New $925MM Sr. Notes 'B'
---------------------------------------------------------------
Fitch Ratings expects to rate Digicel Limited's (DL) proposed
USD925 million senior notes due 2023 'B/RR4(EXP)'.  Proceeds from
the issuance are expected to be used mainly to fully redeem its
USD800 million 8.25% senior notes due 2017 and to pay for a tender
premium for such redemption, as well as the associated accrued
interest.  Securities rated 'RR4' have characteristics consistent
with securities historically recovering 31%-50% of the principal
and related interest.

KEY RATING DRIVERS

Digicel's ratings reflect its solid performance and cash flow from
operations (CFFO) generation, geographic diversification with a
leading market position, strong brand recognition, as well as
Fitch's expectation for stable credit metrics over the medium term.
The ratings are tempered by its aggressive shareholder
distribution, high leverage and the exposure of its operations to
low-rated countries.

Under Fitch's approach to rating entities within a corporate group
structure, the Issuer Default Ratings (IDR) of Digicel Group
Limited (DGL) and its subsidiaries, DL and Digicel International
Finance Limited (DIFL), are the same and viewed on a consolidated
basis as they have a weaker parent and the degree of linkage
between parent and subsidiaries is considered strong.  For issue
ratings, Fitch rates debt at DIFL one notch higher than its parent
DL, reflecting its above-average recovery prospects.  DL's ratings
reflect the increased burden the DGL subordinated notes place on
the operating assets and the loss of financial flexibility.  The
ratings of DGL incorporate their subordination to debt at DIFL and
DL, as well as the subordinated notes' below-average recovery
prospects in the event of default.

Stable Operating Trends

Digicel has generated stable operating results in the first nine
months of fiscal year 2015 (FY2015), ending on March 31, 2015, and
Fitch expects this trend to continue over the medium term.  The
company's constant-currency-based revenue posted stable growth of
5% with a solid EBITDA margin of 43% during the period.  This was
mainly driven by increasing data revenue supporting ARPU, and
steady growth in Papua New Guinea (PNG), Trinidad & Tobago, and
Other Markets segment.  Stable subscriber base expansion continued,
with the total subscriber base reaching 13.8 million as of December
2014 from 13.4 million a year ago.  Although revenue growth as
reported in USD is likely to remain weak due to the local currency
depreciation in some of its markets, the operational impact should
not be material given the close revenue-cost currency match.

Positive Revenue Diversification

Ongoing revenue diversification away from the traditional mobile
voice is positive.  The revenue and EBITDA contribution from
data-based value-added services (VAS) should continue to steadily
increase over the medium term, mitigating negative pressures on the
voice segment, which has suffered from a high level of competition
and reduced mobile termination rates in some markets. For the
quarter ended December 2014, VAS revenues increased by 8% from a
year ago, accounting for 27% of service revenues. Increasing
smartphone penetration, which rose to 31% as of December 2014 from
20% a year ago, should continue to support this trend.  The company
has made several acquisitions in the submarine fiber network and
cable operations to cope with the data capacity increase and
reinforce this strategy.

Digicel's business solutions business also grew strongly by 55% to
USD32 million during the quarter ended December 2014 versus a year
ago.  Revenue contribution is yet to be significant as it
represented only 4.7% of the consolidated service revenue in the
quarter, but this segment is likely to become a meaningful cash
generator over the long term, as the demand outlook is solid.

Negative FCF in and FY2015

Fitch forecasts Digicel to generate negative free cash flow (FCF)
in FY2015 due to high capex, despite stable performance.  During
the year, annual capex is expected to increase to above USD600
million, from USD550 million in FY2014, as a result of network
expansion, including cable networks as well as a tower project in
Myanmar.  Positively, Fitch believes that FCF generation could turn
positive from FY2016 as expansionary capex falls in the absence of
any sizable special dividend.  The capex-to-revenue ratio is
expected to trend toward 10% with a stable annual dividend policy
of USD40 million in the next few years.

Leverage to Remain Stable

Fitch expects the company's financial leverage to remain stable
over the medium term given its high cash balance.  Despite
forecasted negative FCF and some pending investments, its cash
balance of USD512 million at December 2014 should cover any
shortfall from CFFO without a significant need for external
financing.  Therefore, Fitch does not foresee any material increase
in the company's gross debt level, which was USD6.4 billion at
December 2014.  Fitch's base case scenario indicates Digicel's
debt-to-EBITDAR ratio to remain in the range of 5.0x-5.5x over the
medium term, in line with the current rating level.

Improved Debt Maturities Profile

Digicel's liquidity profile has substantially improved with the the
extension of debt maturities of DIFL's USD857 million facility
loans during June 2014.  Following the extension, the company faces
no significant debt maturities until FY2018 when the USD202 million
portion of the facility becomes due.  These loans were due during
FY2015 - FY2017.  The proposed notes should also bolster Digicel's
liquidity position.

Fitch currently rates DGL and its subsidiaries as:

DGL
   -- Long-term IDR 'B' with a Stable Outlook;
   -- USD 2 billion 8.25% senior subordinated notes due 2020
      'B-/RR5';
   -- USD 1 billion 7.125% senior unsecured notes due 2022
      'B-/RR5'.

DL
   -- Long-term IDR 'B' with a Stable Outlook;
   -- USD 800 million 8.25% senior notes due 2017 'B/RR4';
   -- USD 250 million 7% senior notes due 2020 'B/RR4';
   -- USD 1.3 billion 6% senior notes due 2021 'B/RR4'.

DIFL
   -- Long-term IDR a 'B' with a Stable Outlook;
   -- Senior secured credit facility 'B+/RR3'.

RATING SENSITIVITIES

A negative rating action could be considered if consolidated
leverage at DGL approaches 6.0x, due to competitive pressures and
aggressive capex/shareholder distributions.

Conversely, a positive rating action could be considered in the
case of a sustained reduction in consolidated gross leverage to
4.0x or below, and an increase in FCF generation.



DIGICEL LIMITED: Moody's Assigns 'B1' Rating on New $925MM Notes
----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Digicel Limited's
proposed offering of $925 million Senior Unsecured Notes due 2023.
The use of proceeds will be used to redeem 100% of the existing
Digicel Limited 8.25% Senior Unsecured Notes due 2017, including
redemption premiums, accrued interest and fees, and the remaining
net proceeds will be used to add cash to the balance sheet to be
used for general corporate purposes.

Issuer: Digicel Limited

   -- Senior Unsecured Notes due 2023 -- B1 (LGD3)

Digicel Group Limited's ("DGL" or "Digicel") B2 Corporate Family
Rating is supported by its leading position as the largest wireless
telecommunications carrier in the Caribbean (also providing
services in the Asia Pacific and Central America), as well as its
successful track record at gaining significant market share and
producing solid operating results relatively quickly after new
markets are launched.  Profitability and cash flows have expanded
steadily over the past few years.  Moody's expect that the
company's expansion into cable TV and business services will be
successful as it will allow Digicel to leverage existing customer
relationships and a strong brand.  Consequently, cash flow growth
is expected to remain strong as these new services offset slowing
growth in legacy wireless services.

However, Digicel's history of debt funded acquisitions and sizable
dividend payments weigh down the rating.  While the company
continues to have strong geographic diversification, this is
mitigated by its exposure to Jamaica (about 15% of total revenue),
which is struggling to revive its economy and experiencing
competitive telecom pricing following the implementation of a new
regulatory and tax scheme designed to increase government receipts.
Further, slowing subscriber growth, lower pricing plans and
adverse foreign currency movements relative to the US dollar in
Digicel's three largest geographies (Jamaica, Haiti and Papua New
Guinea) accounting for over 45% of revenue have resulted in flat
year-over-year revenue growth for the three months ended September
30, 2014. In constant currency terms, revenues increased by 3%.

The stable rating outlook reflects Moody's opinion that DGL is
unlikely to drive debt to EBITDA leverage to under 4x (Moody's
adjusted) over the rating horizon.

Moody's could upgrade Digicel's rating if the company demonstrated
a less aggressive dividend philosophy, financial policies targeted
leverage lower than 4x debt to EBITDA (Moody's adjusted), and if
the operations exhibited positive free cash flow generation in
excess of 5% of total debt (Moody's adjusted) on a sustained basis
while maintaining very good liquidity.

The ratings could be downgraded if operational shortfalls or
unexpected acquisitions/investments elevated Digicel's leverage
above 6x debt to EBITDA (Moody's adjusted) within an 18 - 24 month
horizon.  The ratings will likely experience downward pressure if
competition escalates in the company's core markets or if
deterioration in the political, economic and regulatory
environments in the Caribbean or South Pacific markets result in
declining operating cash flows and weak liquidity.

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

Incorporated in Hamilton, Bermuda, with headquarters in Kingston,
Jamaica, W.I., Digicel is the largest provider of wireless
telecommunication services in the Caribbean. Revenue for the twelve
months ended September 30, 2014 totaled $2.8 billion.


DISH NETWORK: S&P Affirms 'BB-' CCR, Off CreditWatch Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its ratings,
including its 'BB-' corporate credit rating, on Englewood,
Colo.-based DISH Network Corp., and removed all ratings from
CreditWatch, where S&P had placed them with negative implications
on Feb. 2, 2015.  The rating outlook is negative.

"The ratings affirmation follows our review of the company's plans
to fund spectrum purchases in the AWS-3 auction," said Standard &
Poor's credit analyst Michael Altberg.

"While the distribution of the majority of the company's sizeable
cash balances does not impair gross leverage at DISH Network, we
believe this greatly reduces the company's liquidity position and
will likely result in the need for additional debt issuance to fund
future spectrum investments, acquisitions, or wireless build-outs,"
he added.

As a result of the depletion in cash balances, S&P has revised its
liquidity assessment to "adequate" from "strong."

The negative outlook reflects the company's reduced flexibility due
to a depletion of cash balances, and the potential for a downgrade
if future wireless-related investments or acquisitions cause a
meaningful rise in net leverage, without commensurate improvement
in the company's business risk profile.

S&P could lower the rating if adjusted leverage increases above 5x,
with no clear path for improvement.  While S&P do not believe DISH
Network will look to fund a wireless build-out on its own, S&P
believes the array of options available to it (e.g. acquisition,
spectrum sharing, joint ventures, etc.) will bring additional
investment requirements that could push leverage above this
threshold.  As previously stated, the 5x threshold reflects S&P's
current view of the company's "fair" business risk profile, which
is based primarily on its core pay-TV business.  As a result, S&P
will look to reassess its business risk profile and the
appropriateness of this threshold as longer-term developments
around the company's wireless strategy unfold.

S&P could revise the outlook to stable if it had greater confidence
that the company could pursue a wireless strategy while maintaining
"adequate" liquidity and leverage below 5x. Additionally, such a
scenario would incorporate a relatively stable performance in its
pay-TV business.  Because the uncertainty regarding the company's
wireless strategy could extend for a prolonged period, S&P could
revise the outlook to stable over the near term until further
developments unfold.



DISTRICT OF COLUMBIA CANCER: Files for Chapter 7 Liquidation
------------------------------------------------------------
Aaron Gregg at The Washington Post reports that District of
Columbia Cancer Consortium filed for Chapter 7 liquidation (Bankr.
D.C. Case No. 15-00074) on Feb. 13, 2015, estimating its assets up
to $50,000 and liabilities between $500,001 and $1 million.

According to The Washington Post, the Company's largest unsecured
creditor is George Washington University, owed at $454,000.

Mary F. Caloway, Esq., serves as the Company's bankruptcy counsel,
The Washington Post says.

S. Martin Teel, Jr., presides over the case.

District of Columbia Cancer Consortium is based in Washington, D.C.


DOLAN COMPANY: Asks Court to Extend Deadline to Remove Suits
------------------------------------------------------------
The Dolan Company has filed a motion seeking additional time to
remove lawsuits involving the company and its affiliates.

In its motion, the company asked the U.S. Bankruptcy Court in
Delaware to move the deadline for filing notices of removal of the
lawsuits to May 17.

The extension would give Dolan enough time to make "fully-informed
decisions" concerning removal of any lawsuit involving the company,
according to its lawyer, Laura Davis Jones, Esq., at Pachulski
Stang Ziehl & Jones LLP, in Wilmington, Delaware.

A court hearing to consider the motion is scheduled for March 18.

                    About The Dolan Company

Minneapolis, Minn.-based The Dolan Company (OTC:DOLN) and its
subsidiaries provide professional services and business information
to the legal, financial and real estate sectors.

The Dolan Company and several affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Case Nos. 14-10614 to
14-10637) on March 23, 2014.  The Company has said it expects to
emerge from bankruptcy within two months.

Judge Brendan L. Shannon oversees the cases.  Marc Kieselstein,
P.C., Jeffrey D. Pawlitz, Esq., and Joseph M. Graham, Esq., at
Kirkland & Ellis LLP, serve as the Debtors' counsel.  Timothy P.
Cairns, Esq., Laura Davis Jones, Esq., and Michael Seidl, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.

Kevin Nystrom serves as the Company's chief restructuring officer.
Faegre Baker Daniels LLP serves as the Debtors' special counsel;
Peter J. Solomon Company serves as financial advisors; and Kurtzman
Carson Consultants, LLC, serves s noticing and balloting agent.
Deloitte Tax LLP serves as tax advisors.  Zolfo Cooper LLC also
serves as advisors.

Dolan listed $236.2 million in total assets and $185.9 million in
total debts at Sept. 30, 2013.  The petitions were signed by Vicki
J. Duncomb, authorized signatory.

Global investment management firm T. Rowe Price Associates, Inc.,
owns nearly 10% of the company's stock, while James Dolan owns
6.8%.

Dolan's e-discovery business, DiscoverReady LLC, did not file a
chapter 11 petition and its operations will not be affected by the
chapter 11 process.

On March 18, 2014, Dolan and its lenders and certain of its swap
counterparties executed a restructuring support agreement that sets
forth the material terms of the chapter 11 restructuring and
secures the support of the secured creditors for that process. In
accordance with the RSA, the Company commenced solicitation for
votes on the chapter 11 plan from secured creditors, the only
parties entitled to vote under the plan of reorganization.

The chapter 11 plan contemplates that the secured lenders will
become the owner of DiscoverReady and The Dolan Company upon the
completion of the restructuring process and each business will be
operated as separate and distinct entities.  Investment funds
managed by Bayside Capital, Inc. will become the majority owner of
DiscoverReady and The Dolan Company.  Bayside Capital is an
affiliate of H.I.G. Capital, a global private investment firm with
more than $15 billion of equity capital under management.

The chapter 11 plan process will allow the filing subsidiaries of
the Company to deleverage its capital structure by reducing its
projected secured debt obligations from approximately $170 million
to approximately $50 million.  The RSA also secures support from
the lenders to refinance DiscoverReady's capital structure with a
$10 million unfunded secured revolving facility.  The existing
preferred and common shares will be cancelled and will not receive
a recovery in the chapter 11 plan.  After emergence from
bankruptcy, both The Dolan Company and DiscoverReady LLC will be
privately held companies.

The lenders are to provide a $10 million DIP loan to fund the cash
needs of the Company and DiscoverReady through the reorganization
process.

Bayside Capital is represented in the case by Akin Gump Strauss
Hauer & Feld LLP's Michael S. Stamer, Esq., and Sarah Link Schultz,
Esq.

An Official Committee of Equity Security Holders is represented by
Neil B. Glassman, Esq., GianClaudio Finizio, Esq., and Justin R.
Alberto, Esq., at Bayard, P.A., in Wilmington, Delaware; Robert J.
Stark, Esq., at Brown Rudnick LLP, in New York; and Steven B.
Levine, Esq., at Brown Rudnick LLP, in Boston, Massachusetts.

The Debtors have filed a request to disband the Equity Committee,
given the "hopeless insolvency" of their estates.

Dolan Company and its subsidiaries on June 12 disclosed that they
have emerged from chapter 11 only 81 days after voluntarily filing
for bankruptcy protection.  As previously announced, the United
States Bankruptcy Court for the District of Delaware confirmed the
Company's plan of reorganization on June 9, 2014.


DUNE ENERGY: Alexander Kulpecz Quits as Director
------------------------------------------------
Alexander A. Kulpecz resigned from the Board of Directors of Dune
Energy, Inc., and from all committees of the Company of which he
was a member, effective Feb. 19, 2015.  Mr. Kulpecz's resignation
is not because of any disagreement with the Company on any matter
relating to the Company's operations, policies or practices,
according to a document filed with the Securities and Exchange
Commission.

                         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.


DUNE ENERGY: Eos Petro Extends Tender Offer Expiration Anew
-----------------------------------------------------------
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 Tuesday, Feb. 24,
2015, at 12:00 Midnight, New York City time, to allow them
additional time to negotiate revised terms to the Merger
Agreement.

The tender offer was previously scheduled to expire on Feb. 20,
2015, at 12:00 Midnight, New York City time.  The depositary for
the tender offer has advised that, as of the close of business on
Feb. 20, 2015, a total of approximately 62,205,210 shares or
85.20848% 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.  However, there is no assurance that
the parties will be able to agree on revised terms. If such 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.


DUNKIN' BRANDS: S&P Withdraws 'B+' CCR After Debt Paydown
---------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B+' corporate
credit rating, 'B+' senior secured issue rating, and '3' recovery
rating on Canton, Mass.-based global fast food franchisor Dunkin'
Brands Inc.

Dunkin' Brands recently repaid all outstanding amounts under its
senior secured bank credit facilities with proceeds from a
securitized debt facility.  As a result, S&P has withdrawn the
corporate credit, issue-level, and recovery ratings on Dunkin'
Brands.



ENDEAVOUR INT'L: Smedvig Funds Reports 13.6% Stake as of Dec. 31
----------------------------------------------------------------
Smedvig Funds Plc et al. disclosed in a Schedule 13G (Amendment No.
7) filing with the Securities and Exchange Commission that as of
December 31, 2014, SF -- and, by reason of Smedvig Asset Allocation
AS being SF's investment manager and John Thore Olsen serving as
its chief investment officer, SAA and JTO as well -- had sole
beneficial ownership of an aggregate of 8,103,482 shares of Common
Stock of Endeavour International Corporation, composed of:

     (x) 5,215,910 shares of Common Stock issuable upon the
         conversion of the Guaranteed Convertible Bonds due 2016;

     (y) 1,234,278 shares of Common Stock issuable upon the
         exercise of warrants; and

     (z) 1,653,294 shares of outstanding Common Stock.

As of that date, the aggregate amount of shares beneficially owned
represented approximately 13.63% of the shares of Common Stock
outstanding, determined in accordance with Rule 13d-3(d)(1)(i)
under the Exchange Act (based on the number of shares outstanding
as of November 5, 2014, as reported in the Company's Quarterly
Report on Form 10-Q filed November 11, 2014, (53,000,000 shares)
plus the shares issuable to SF upon conversion of the Bonds and
exercise of the Warrants).

The Bonds were issued by Endeavour Energy Luxembourg sarl
("LuxCo"), and are guaranteed by LuxCo's parent, the Company (also,
the "Guarantor"), and are convertible into shares of Common Stock
of the Company.

The Bonds bear interest at a rate of 11.5% per annum which is
capitalized quarterly on March 31, June 30, September 30 and
December 31 of each year, commencing on March 31, 2008.  Beginning
with the interest period commencing on March 31, 2014, the Bonds
bear interest at the rate of 7.5% per annum.

At the option of the holders thereof, the Bonds may be converted at
the principal amount thereof together with accrued interest
capitalized to the conversion date into shares of Common Stock at
the conversion price.  Such conversion right commences on the day
falling one month after January 24, 2008 and expires 15 business
days prior to January 24, 2016.  The number of shares of Common
Stock which shall be delivered upon conversion per U.S.$ principal
amount of the Bonds is determined by dividing the outstanding
principal amount of the Bond (including capitalized interest) by
the conversion price then in effect.

The initial conversion price for the Bonds was $2.36.  The initial
conversion price is subject to adjustments, calculated by the
Guarantor in the event of (a) dividends or other distributions to
all holders of outstanding Common Stock, (b) stock splits and (c)
issue of rights or warrants to all holders of outstanding Common
Stock to subscribe for or purchase shares at a price less than the
market price or the issue of Common Stock at a price below $2.36.
After the Company's 1-for-7 reverse stock split on November 18,
2010, the as-adjusted initial conversion price became $16.52.

The Guarantor can convert the Bonds if less than 15% of the
outstanding principal amount is outstanding.

Bondholders holding at least 25% of the Bonds have a put right on
January 24, 2016, if the weighted average closing price for a share
of Common Stock for the 30 day period ending two business days
prior to such date is less than $2.36, which amount was adjusted to
$16.52 after the Company's 1-for-7 reverse stock split on November
18, 2010.  LuxCo must redeem the Bonds at their outstanding
principal amount (which includes the capitalized interest).  If
holders of the Bonds do not exercise such put right, then the
conversion price will be reset to the market price for a share of
Common Stock if it is lower than the conversion price on such
date.

Each holder of a Bond has a put right upon a change of control and
LuxCo is required to redeem the Bonds at a Change of Control
Redemption Price, which is the greater of (a) number of shares that
bondholder would have received if it had exercised its conversion
rights multiplied by the price of the Common Stock tendered in the
change of control and (b) an amount equal to the greater of:  (i)
115% of the outstanding principal amount (including capitalized
interest) and (ii) an amount sufficient to generate a 15% pre-tax
annual IRR on such Bonds.

SF is a self-managed fund under AIFMD.  SAA is the investment
manager for SF and is regulated by the Norwegian FSA.  JTO serves
as the Chief Executive Officer and Chief Investment Officer of
SAA.

A copy of the filing is available at http://is.gd/Vgewqk

                    About Endeavour International

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

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

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

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

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

                        *     *     *

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

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

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


ENDEAVOUR INT'L: Steelhead Owns 5.7% Stake as of Dec. 31
--------------------------------------------------------
Steelhead Partners, LLC, James Michael Johnston, Brian Katz Klein,
and Steelhead Navigator Master, L.P. disclosed in a Schedule 13G
filing with the Securities and Exchange Commission that as of
December 31, 2014, Steelhead and Steelhead Navigator are the
beneficial owners of 3,000,000 shares -- or 5.7% -- of the voting
common stock of Endeavour International Corporation.

The Securities are held by and for the benefit of Steelhead
Navigator. Steelhead, as the investment manager of Steelhead
Navigator, and as the sole member of Steelhead Navigator's general
partner, and each of J. Michael Johnston and Brian K. Klein, as the
member-managers of Steelhead, may be deemed to beneficially own the
Securities owned by Steelhead Navigator for the purposes of Rule
13d-3 of the Securities Exchange Act of 1934, insofar as they may
be deemed to have the power to direct the voting or disposition of
those Securities.

Neither the filing of this Schedule nor any of its contents shall
be deemed to constitute an admission that any of Steelhead, Mr.
Johnston or Mr. Klein is, for any other purpose, the beneficial
owner of any of the Securities, and each of Steelhead, Mr. Johnston
and Mr. Klein disclaims beneficial ownership as to the Securities,
except to the extent of his or its pecuniary interests therein.

Under the definition of "beneficial ownership" in Rule 13d-3 under
the Act, it is also possible that the individual general partners,
executive officers, and members of the foregoing entities might be
deemed the "beneficial owners" of some or all of the Securities
insofar as they may be deemed to share the power to direct the
voting or disposition of such Securities.  Neither the filing of
this Schedule nor any of its contents shall be deemed to constitute
an admission that any of such individuals is, for any purpose, the
beneficial owner of any of the Securities, and such beneficial
ownership is expressly disclaimed.

The calculation of percentage of beneficial ownership was derived
from the Company's Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on November 12, 2014, in which
the Company stated that the number of shares of its Common Stock
outstanding as of November 5, 2014 was 53.0 million shares.

A copy of the filing is available at http://is.gd/G9DCYn

                    About Endeavour International

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

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

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

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

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

                        *     *     *

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

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

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


ENDEAVOUR INTERNATIONAL: McClain et al No Longer Own Shares
-----------------------------------------------------------
McClain Value Management LLC, Phillip C. McClain, and Joseph W.
Donaldson declared in a joint Schedule 13G/A (Amendment No. 2)
filing with the Securities and Exchange Commission that as of
December 31, 2014, they no longer held shares of common stock of
Endeavour International Corporation.

McClain Value Management LLC is a registered investment advisor and
Messrs. McClain and Donaldson are its sole members.  Mr. McClain is
the managing member.

A copy of the filing is available at http://is.gd/ZJNXMS

                    About Endeavour International

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

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

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

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

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

                        *     *     *

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

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

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


ENDEAVOUR INTERNATIONAL: Samberg Reports 7.7% Stake
---------------------------------------------------
Arthur J. Samberg declared in a Schedule 13G (Amendment No. 1)
filing with the Securities and Exchange Commission that as of
December 31, 2014, he may be deemed to be the beneficial owner of a
total of 4,173,500 shares of Common Stock of Endeavour
International Corporation, consisting of (i) 2,673,500 shares of
Common Stock, and (ii) 1,500,000 shares of Common Stock deliverable
upon the exercise of options that are exercisable within 60 days of
December 31, 2014.  Mr. Samberg's shares represent 7.7% of the
Common Stock outstanding.  A copy of the filing is available at
http://is.gd/3qiuhV

                    About Endeavour International

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

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

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

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

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

                        *     *     *

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

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

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


ENERGY FUTURE: Lenders Okay Use of $750MM to Repay 2nd Lien Notes
-----------------------------------------------------------------
Energy Future Holdings Corp. and the substantial majority of its
direct and indirect subsidiaries, including Energy Future
Intermediate Holding Company LLC -- EFIH -- entered on February 12,
2015, into a written consent with the required lenders under its
Senior Secured Superpriority Debtor-in-Possession Credit Agreement,
dated as of June 19, 2014, that permits, under certain
circumstances and subject to the approval of the Bankruptcy Court,
EFIH to use up to $750 million of its cash to repay principal and
accrued interest on EFIH's 11.00% Second Lien Notes due 2021 and
its 11.75% Second Lien Notes due 2022.

As of February 18, 2015 (i.e. the final date for lenders to enter
into the Consent and receive the Consent Fee (as defined below)), a
total of approximately 97% of the lenders under the DIP Facility
entered into in the Consent.

In connection with the Consent, EFIH will pay, subject to the
approval of the Bankruptcy Court, the consenting lenders an
aggregate fee equal to approximately $13 million.  EFIH filed a
motion with the Bankruptcy Court requesting approval of, among
other things, the Repayment, the Consent, and the Consent Fee.
Pursuant to the Consent, such Bankruptcy Court approvals must be
obtained by March 13, 2015.

                       About Energy Future

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

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

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

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

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

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

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

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

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


ENERGY FUTURE: Majority of Lenders Support $750-Mil. Cash Use
-------------------------------------------------------------
Energy Future Intermediate Holding Company LLC disclosed in a
document filed with the Securities and Exchange Commission that as
of Feb. 18, 2015, a total of approximately 97% of the lenders under
its senior secured superpriority debtor-in-possession credit
agreement, dated as of June 19, 2014, have consented to the use of
up to $750 million of its cash to repay principal and accrued
interest on EFIH's 11.00% Second Lien Notes due 2021 and its 11.75%
Second Lien Notes due 2022.

On Feb. 12, 2015, EFIH entered into a written consent with the
required lenders under tbe DIP Facility, subject to the approval of
the Bankruptcy Court.

In connection with the Consent, EFIH will pay, subject to the
approval of the Bankruptcy Court, the consenting lenders an
aggregate fee equal to approximately $13 million.  EFIH filed a
motion with the Bankruptcy Court requesting approval of, among
other things, the Repayment, the Consent, and the Consent Fee.
Pursuant to the Consent, those Bankruptcy Court approvals must be
obtained by March 13, 2015.  

                        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.


EVERYWARE GLOBAL: Appoints SVP of Operations & Supply Chain
-----------------------------------------------------------
EveryWare Global, Inc., announced that Anthony Reisig has been
appointed senior vice president of Operations and Supply Chain,
with responsibility for worldwide supply chain and all
manufacturing and operations in the Company's multiple production
facilities.

Mr. Reisig is a senior executive with extensive global experience.
He was most recently president of National Supply Chain Operations
for KMM Telecommunications, a privately held company delivering
logistics and supply chain services to the telecommunications
industry, where he was responsible for all aspects of supply chain
for 23 facilities across the U.S.  Prior to KMM, he held executive
roles in operations, business transformations and supply chain for
companies in the aerospace, printing and technology industries.

"We are very pleased to have someone with Anthony's experience
joining the EveryWare team at this time in the Company's evolution
and growth," said Sam Solomon, president and CEO of EveryWare
Global.  "His proven success implementing Lean Six Sigma, Kaizen
and other business and quality management systems will be an asset
to our operations as we focus on delivering the quality,
consistency and innovation that our customers expect from
EveryWare."

Mr. Reisig added: "It's very rewarding to be part of a company that
has the opportunity to make a significant impact in its industry.
EveryWare embodies the rich heritage and success of century-old
American brands but the opportunities ahead of us truly excite me.
Our operations are key to moving the Company to the next level and
I look forward to making that happen."

In connection with his hiring, Mr. Reisig entered into an
employment agreement with the Company on Feb. 20, 2015.  Mr.
Reisig's initial base salary under the Employment Agreement is
$265,000 per year to be reviewed annually.  Mr. Reisig is further
entitled to a grant of stock options to purchase 25,000 shares of
the the Company's common stock.  Mr. Reisig's target bonus will be
75% of his annual base salary.  The bonus will be paid at the
direction of the Board of Directors, in its sole discretion to the
extent the Company's operating targets have been met pursuant to
the Company's short term incentive plan as adopted by the Board of
Directors.

Mr. Reisig is also entitled to up to $75,000 in reimbursements to
relocate his home to the Columbus, Ohio, area in connection with
his hiring.

                          About EveryWare

EveryWare Global, Inc. is a global marketer of tabletop and food
preparation products for the consumer and foodservice markets,
with operations in the United States, Canada, Mexico, Latin
America, Europe and Asia.  Its global platform allows it to market
and distribute internationally its total portfolio of products,
including bakeware, beverageware, serveware, storageware,
flatware, dinnerware, crystal, buffetware and hollowware; premium
spirit bottles; cookware; gadgets; candle and floral glass
containers; and other kitchen products, all under a broad
collection of widely-recognized brands.

For the six months ended June 30, 2014, the Company reported a net
loss of $65.3 million on $195 million of total revenues
compared to a net loss of $2 million on $200 million of total
revenue for the same period during the prior year.

As of June 30, 2014, the Company had $274 million in total
assets, $400 million in total liabilities, and a $126 million
stockholders' deficit.

                            *    *    *

As reported by the TCR on Aug. 6, 2014, Standard & Poor's Ratings
Services raised its corporate credit rating on EveryWare Global
Inc. to 'CCC+' from 'CCC-'.  "The upgrade reflects our view that a
default scenario is less likely as a result of a $20 million
investment from majority owner, Monomoy Capital Partners, in
addition to a waiver received for the covenant default in the
quarter ended March 2014 and the expected covenant default in the
quarter ended June 2014.


FAIRPOINT COMMUNICATIONS: Union Workers Accept New Contract
-----------------------------------------------------------
Edward D. Murphy at Portland Press Herald reports that more than
1,700 International Brotherhood of Electrical Workers and
Communications Workers of America in northern New England members
ratified a new contract over the weekend and resumed their jobs
Wednesday at FairPoint Communications.

The Associated Press relates that FairPoint Communications reached
a tentative agreement with two unions representing more than 1,700
employees to end a four-month strike.  The AP recalls that workers
in Maine, New Hampshire, and Vermont went on strike in October
2014.  According to David Sharp at Burlington Free Press, the
workers ratified the deal in three days of voting that ended
Sunday.

Press Herald says that the contract bridges a $500 million gap
between what the Company wanted in concessions and what the unions
were willing to make, a compromise that preserved the workers'
pension plan, although the Company's contribution will be
decreased.  The report states that under the new contract: (i)
workers will pay for a portion of their health insurance, although
the Union came up with an insurance plan that is cheaper than what
the Company had provided; (ii) health insurance for retirees was
eliminated, although the Company will provide a cash stipend in its
stead; (iii) the Company can hire outside contractors, with
limitations; and (iv) employees will get a flat payment of $400 and
small raises the next two years.

It will take a month to a month-and-a-half for the Company's
workforce to restore service quality to prestrike levels, Free
Press states, citing Barry Sine, an analyst at New York-based
brokerage Drexel Hamilton who follows the Company.

According to Free Press, replacement workers will remain on the job
for a couple weeks, overlapping with the return of the union
workers.  Officials, Free Press reports, said that the two groups
won't be working side by side, and they won't be located under one
roof.

                   About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- owns and operates local exchange  
companies in 18 states offering advanced communications with a
personal touch, including local and long distance voice, data,
Internet, television and broadband services.  FairPoint is traded
on the New York Stock Exchange under the symbols FRP and FRP.BC.

FairPoint and its affiliates filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 09-16335) on Oct. 26, 2009.  Rothschild
Inc. is acting as financial advisor for the Company; AlixPartners,
LLP, as the restructuring advisor; and Paul, Hastings, Janofsky &
Walker LLP is the Company's counsel.  BMC Group is the claims and
notice agent.

As of June 30, 2009, FairPoint reported $3.24 billion in total
assets, $321 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in
stockholders' equity.

Andrews Kurth is counsel to the Official Committee of Unsecured
Creditors.  Altman Vilandrie is the operational consultant to the
Creditors' Committee.  Verrill Dana is the Creditors' Committee's
special regulatory counsel.  Jeffries serves as the Creditors'
Committee's financial advisor.

FairPoint on Jan. 24, 2011, successfully completed its balance
sheet restructuring and emerged from Chapter 11.  As a result of
the restructuring, FairPoint reduced its outstanding debt by
roughly 64%, from roughly $2.8 billion -- including interest rate
swap liabilities and accrued interest -- to roughly $1.0 billion.
In addition, the Company has a $75 million revolving credit
facility available for working capital and general corporate
purposes.  Existing stock in the Company was cancelled and holders
did not receive any distributions.

                          *     *     *

The Troubled Company Reporter, on Feb. 4, 2013, reported that
Standard & Poor's Ratings Services assigned its 'B' issue-level
rating and '3' recovery rating to Charlotte, N.C.-based incumbent
local exchange carrier (ILEC) FairPoint Communications Inc.'s
proposed $650 million senior secured term loan B, $75 million
revolving credit facility, and $300 million of secured notes.  The
company will use proceeds to repay borrowings under its existing
bank loan, which currently totals about $950 million.


FLINTKOTE COMPANY: Seeks Oct. 31 Extension of Exclusive Periods
---------------------------------------------------------------
The Flintkote Company and Flintkote Mines Limited filed their 29th
motion asking the U.S. Bankruptcy Court for the District of
Delaware to extend the period during which they have exclusive
right to file a Chapter 11 plan of reorganization for up to an
additional six month through and including Aug. 31, 2015, and the
period during which they have exclusive right to solicit
acceptances of that plan through Oct. 31, 2015.

As previously reported by The Troubled Company Reporter, the
Debtors and its former parent, Imperial Tobacco Canada Limited,
submitted an additional letter requesting the Court to renew its
stay as the Debtors pursue confirmation of the Plan.  The Debtors
are now actively pursuing Court approval of voting procedures that
will allow creditors who previously voted on the Prior Plan the
opportunity to change their votes, which would otherwise be counted
as votes on the Plan.  A hearing on the resolicitation motion is
currently scheduled for March 17, 2015.  The Court has tentatively
scheduled the confirmation hearing for Aug. 10, pending its ruling
on the Resolicitation Motion.

Kevin T. Lantry, Esq., at Sidley Austin LLP, in Los Angeles,
California, asserts that at this stage in the Debtors' cases,
terminating exclusivity will not result in a "better" plan, but may
instead impair the Plan Proponents' ability to confirm the Plan,
which resolves ITCAN's remaining objections in the Chapter 11 cases
and results in an additional $575 million for the estates.

                    About The Flintkote Company

Headquartered in San Francisco, California, The Flintkote Company
is engaged in the business of manufacturing, processing and
distributing building materials.  Flintkote Mines Limited is a
subsidiary of Flintkote Company and is engaged in the mining of
base-precious metals.  The Flintkote Company filed for Chapter 11
protection (Bankr. D. Del. Case No. 04-11300) on April 30, 2004.
Flintkote Mines Limited filed for Chapter 11 relief (Bankr. D.
Del. Case No. 04-12440) on Aug. 25, 2004.  Kevin T. Lantry, Esq.,
Jeffrey E. Bjork, Esq., Dennis M. Twomey, Esq., Jeremy E.
Rosenthal, Esq., and Christina M. Craige, Esq., at Sidley Austin,
LLP, in Los Angeles; James E. O'Neill, Esq., and Laura Davis
Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Del., represent the Debtors in their restructuring efforts.

Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, N.Y.; Peter Van N. Lockwood, Esq., Ronald E. Reinsel, Esq.,
at Caplin & Drysdale, Chartered, in Washington, D.C.; and Philip
E. Milch, Esq., at Campbell & Levine, LLC, in Wilmington, Del.,
represent the Asbestos Claimants Committee as counsel.

James J. McMonagle, is the legal representative for future
claimants.  The FCR has retained Dr. Timothy Wyant as claims
evaluation consultant.  The FCR is represented by James L.
Patton, Jr., Esq., and Edwin J. Harron, Esq., at Young Conaway
Stargatt & Taylor, LLP; and Reginald W. Jackson, Esq., at Vorys,
Sater, Seymour & Pease LLP.

When Flintkote filed for protection from its creditors, it
estimated more than $100 million each in assets and debts.  When
Flintkote Mines Limited filed for protection from its creditors,
it estimated assets of $1 million to $50 million, and debts of
more than $100 million.

The Debtors' Chapter 11 cases have been re-assigned to Judge Mary
F. Walrath in line with the retirement of former Bankruptcy
Judge Judith Fitzgerald.


FOODS INC: Two Buyers Approved to Purchase Most of Assets
---------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
Neews, reported that Dahl's Foods obtained preliminary approval
from a bankruptcy court to sell most of its assets for $6.25
million to two buyers.

According to the report, the real estate, buildings and equipment
in Clive, Iowa, are going to Equity Ventures Commercial Development
LC for $2.8 million, while most of the rest is being bought by the
primary lender and supplier, Associated Wholesale Grocers Inc., for
$2.45 million plus the cost of inventory.

                        About Foods Inc.

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

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

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

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

The U.S. Trustee for Region 12 appointed four creditors of Foods,
Inc. to serve on the official committee of unsecured creditors.


FOURTH QUARTER: MLIC et al. Want Case Moved to Wyoming
------------------------------------------------------
MLIC Asset Holdings LLC and MLIC CB Holdings LLC ask the U.S.
Bankruptcy Court for the Northern District of Georgia to move the
Chapter 11 case of Fourth Quarter Properties 86 LLC to the U.S.
Bankruptcy Court for the District of Wyoming because all of the
Debtor's assets and the majority of its creditors are located in
Wyoming.

MLIC entities say the Debtor's operation is an about 3,000-acre
ranch in Pinedale, Wyoming, and the Debtor's sole connection to
Georgia is that the ownership entities are located in Georgia.

According to court documents, MLIC entities are secured lender of
the Debtor with an outstanding debt of about $27 million.  The loan
was in default, accelerated, and a foreclosure judgment was entered
on Dec. 24, 2013, against the Debtor and Stanley E. Thomas, jointly
and severally in the amount of $31.9 million as of Aug. 23, 2013,
plus interest of $9,144 per day through Dec. 14, 2013, plus
interest at a per diem rate of $9,144 per day.

The Debtor say, while its principal physical assets are
unquestionably located in Sublette County, Wyoming, its principal
place of business and the "nerve center" of its operations are
located in Coweta County, Georgia.  The operations of the Little
Jennie Ranch are managed along with five additional ranches through
a central office located in Sharpsburg, in this Division, by Dick
Beck, one of the premier ranch managers in the United States.

According to the Debtor, since January of 2005, Mr. Beck has served
as General Manager of Three Trees Ranch, Inc., one of the largest
purebred Angus operations in the nation.  With operational
headquarters at Sharpsburg, Georgia, and four ranch locations that
total in excess of 12,000 acres in Georgia, Three Trees Ranch also
manages the Little Jennie Ranch cattle operation in Sublette
County, Wyoming, containing approximately 3,000 additional acres,
with grazing permits for more than 1,400 animal units.  Three Trees
Ranch breeds and markets Angus, Angus Plus, Brangus and AnChar
purebred and composite cattle. Mr. Beck makes all the mating
decisions and manages and markets all of the genetics created at
Three Trees Ranch and also participates in the marketing programs
of other major seedstock producers.

The Debtor notes the financial and record-keeping operations of the
Little Jennie Ranch are managed by the Debtor at 45 Ansley Drive,
in Newnan, Georgia, where Lamar Maddox serves as its CFO and
maintains substantially all business records of the Debtor.  All
bills are paid by accounts located in Newnan, Georgia with the
exception of one small account located at Wells Fargo Bank in
Wyoming used only for immediate disbursement of on-site expenses.
All substantial bills are submitted to the Debtor at its Newnan
address and paid through accounts located in Georgia, the Debtor
states.

The Debtor further says all employees of the Debtor are supplied by
Three Rivers Ranch, headquartered in Sharpsburg, Georgia.  The
Debtor's principal funding and proposed DIP lending entity, Fourth
Quarter Properties 100, LLC is co-located with the Debtor at 45
Ansley Drive in Newnan.  The Debtor's Members are located in
Newnan.

MLIC entities retained as counsel:

  Gary A. Barnes, Esq.
  Baker, Donelson, Bearman, Caldwell Berkowitz, P.C.
  1600 Monarch Plaza
  3414 Peachtree Road, N.E.
  Atlanta, Georgia 30326
  Tel: 404.577.6000
  Fax: 404.577.6501
  Email: gbarnes@bakerdonelson.com

                         About Fourth Quarter

Fourth Quarter Properties 86, LLC, sought Chapter 11 protection
(Bankr. N.D. Ga. Case No. 15-10135) in Newnan, Georgia, on Jan. 22,
2015.  According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due May 22, 2015.

Little Suwanee Holdings, LLC, owns 95 percent of the membership
interests in the Debtor while J. Bruce Williams, Jr., holds the
remaining 5 percent.

The Debtor is represented by Ward Stone, Jr., Esq., at Stone &
Baxter LLP, in Macon, Georgia.

The Debtor estimated $10 million to $50 million in assets and $50
million to $100 million in debt.


GARRETT PROPERTIES: Case Summary & 7 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Garrett Properties, LLC
        322 West Washington Street
        Charleston, WV 25302

Case No.: 15-20085

Chapter 11 Petition Date: February 24, 2015

Court: United States Bankruptcy Court
       Southern District of West Virginia (Charleston)

Judge: Hon. Ronald G. Pearson

Debtor's Counsel: James M. Pierson, Esq.
                  PIERSON LEGAL SERVICES
                  PO Box 2291
                  Charleston, WV 25328
                  Tel: (304) 925-2400
                  Email: jpierson@piersonlegal.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/wvsb15-20085.pdf


GENERAL MOTORS: JPMorgan Loses Secured Interest on $1.5BB Loan
--------------------------------------------------------------
The Second Circuit Court of Appeals has determined that JPMorgan
Chase & Co. released its security interest on a $1.5 billion loan
to General Motors Co.'s bankrupt predecessor by virtue of the
mistaken filing of a UCC-3 termination statement, according to the
American Bar Association Young Lawyer Division Bankruptcy Committee
Winter 2015 Newsletter.

As reported by the Troubled Company Reporter on Feb 9, 2015, Linda
Sandler, writing for Bloomberg News, reported that JPMorgan asked
an appeals to reconsider a negative ruling on its loan, saying that
its lawyers accidentally gave up its rights to security for the
loan and JPMorgan wanted its collateral back because the lawyers
weren't authorized to act on the deal.  The appeals court in
January sided with GM's creditors, Bloomberg News states.

The Newsletter relates that the Second Circuit concluded that
erroneous termination statement was filed with actual authority.
The Newsletter says that the Second Circuit found that both parties
had reviewed drafts, including review by their counsel.

                      About General Motors

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

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

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

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

                        *     *     *

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

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

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


GENMAR HOLDINGS: Lousy Lawyering Results in $65,000 Preference
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that in the bankruptcy case of Genmar Holdings,
Inc., a manufacturer of powerboats, a poorly drafted settlement
agreement left a consumer liable for a $65,000 preference.

According to the report, the U.S. Court of Appeals for the Eighth
Circuit in St. Louis held that the consumer failed to carry his
burden of proof on the defense of contemporaneous exchange for new
value under Section 547(c)(1) of the Bankruptcy Code.  The Eighth
Circuit pointed out that there was a 19-day gap between the
delivery of title documents and the $65,000 payment and that gap
alone didn't obviate
the contemporaneous value defense because "many exchanges the
parties intend to be contemporaneous cannot be completed instantly,
or even within a few days."

The case is Dietz v. Calandrillo (In re Genmar Holdings Inc.),
13-3023, U.S. Court of Appeals for the Eighth Circuit (St. Louis).

                       About Genmar Holdings

Pulaski, Wisconsin-based Carver Italia, LLC, and its affiliates,
including Genmar Holdings, Inc. -- http://www.genmar.com/-- were  
the world's second-largest manufacturer of fiberglass powerboats.
The company generated $460 million in annual revenue making boats
using brand names including Carver, Four Winns, Glastron, Larson,
and Wellcraft.

On June 1, 2009, Genmar Holdings, Inc., and 22 subsidiaries,
including Wood Manufacturing Company, Inc., filed voluntary
Chapter 11 petitions (Bankr. D. Minn. Case No. 09-33773) in the
District of Minnesota. The cases were being jointly administered.
Carver Italia estimated $10 million to $50 million in assets and
$100 million to $500 million in debts.

James L. Baillie, Esq., and Ryan Murphy, Esq., at Fredrikson &
Byron, PA, assisted the Debtors in their restructuring efforts.
Manchester Companies, Inc., was named Chief Restructuring Officer
of Genmar.

In early 2010, Genmar obtained approval to sell its assets in an
auction.  Platinum Equity acquired essentially all of the assets
for $70 million.  J&D Acquisitions bought the Carver/Marquis
brands for $6.05 million.  MCBC Hydra Boats purchased the Hydra-
Sport business for $1 million.

The case was subsequently converted to Chapter 7 liquidation and
the Office of the U.S. Trustee for Region 12 appointed Charles W.
Ries as Chapter 7 case trustee.


GETHSEMANE CHURCH LAFAYETTE: Case Summary & 4 Top Unsec Creditors
-----------------------------------------------------------------
Debtor: Gethsemane Church of God in Christ of Lafayette, Louisiana
        701 E Pinhook Rd
        Lafayette, LA 70501

Case No.: 15-50199

Chapter 11 Petition Date: February 24, 2015

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

Judge: Hon. Robert Summerhays

Debtor's Counsel: Michael A. Crawford, Esq.
                  TAYLOR, PORTER, BROOKS & PHILLIPS LLP
                  POB 2471
                  Baton Rouge, LA 70821
                  Tel: (225) 381-0201
                  Email: mike.crawford@taylorporter.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bishop Alton E. Gatlin, board member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/lawb15-50199.pdf


GFI GROUP: Moody's Reviews for Downgrade 'B1' Debt Ratings
----------------------------------------------------------
Moody's Investors Service announced that it is continuing its
review for downgrade on GFI Group Inc.'s B1 long-term issuer and
senior unsecured debt ratings, after GFI's board of directors
unanimously agreed to support BGC Partners' (unrated) tender offer
for all of the outstanding shares of GFI common stock.

Moody's placed GFI's ratings on review for downgrade on Feb. 4,
2015 following the termination of the merger agreement with CME
Group (Aa3, stable), given increased uncertainty about GFI's
strategic direction. While the endorsement of the BGC bid decreases
this uncertainty, deal closure remains uncertain. If this
transaction does not close, Moody's would assess the effects on
GFI's credit profile from the ongoing strategic uncertainty that
could lead to an erosion of franchise value resulting from
potential customer and employee defections.

Given the current review for downgrade, upward rating pressure is
not foreseen.

The following factors could put downward pressure on the rating:

  - Prolonged lack of strategic clarity

  - Customer or employee attrition leading to deteriorating
    financial performance

  - Aggressive financial policy

GFI is the fifth-largest Inter-Dealer Broker (IDB) globally with
operations in the Americas, Europe, the Middle East, and Africa
(EMEA), and Asia Pacific, with a primary focus on various Fixed
Income, Currencies, and Commodities(FICC) and some equity products.
Its subsidiaries provide brokerage, clearing, technology, and
market data services to institutional clients.

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


GLYECO INC: Obtains $3.5 Million From Private Placement
-------------------------------------------------------
GlyEco, Inc., disclosed in a document filed with the Securities and
Exchange Commission that it completed a private placement offering
of units of the Company's securities at a price of $0.325 per Unit,
with each Unit consisting of one share of the Company's common
stock, par value $0.0001 per share.

In connection with the Offering, the Company entered into
subscription agreements with 18 accredited investors and one (1)
non-accredited investor, pursuant to which the Company sold to the
Investors, for an aggregate purchase price of $3,581,880, a total
of 11,021,170 Units, consisting of 11,021,170 shares of common
stock.

The Company utilized the services of a FINRA registered placement
agent for the Offering.  In connection with the Offering, the
Company paid an aggregate cash fee of $34,826 to the Placement
Agent and shall issue to the Placement Agent five-year stock
options to purchase up to 107,160 shares of common stock at an
exercise price of $0.325 per share.  The net proceeds to the
Company from the Offering, after deducting the foregoing cash fee
and other expenses related to the Offering, are expected to be
approximately $3,547,053.

                         About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

GlyeCo reported a net loss of $4.01 million in 2013, a net loss of
$1.86 million in 2012, and a net loss of $592,000 in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $15.5
million in total assets, $2.49 million in total liabilities and
$13.03 million in total stockholders' equity.

Semple, Marchal & Cooper, LLP, in Phoenix, Arizona, 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 yet to achieve profitable
operations and is dependent on its ability to raise capital from
stockholders or other sources to sustain operations and to
ultimately achieve viable profitable operations.  These factors
raise substantial doubt about the Company's ability to continue as
a going concern.


HEPAR BIOSCIENCE: Pork By-Products Supplier Enters Chapter 11
-------------------------------------------------------------
Jefferson, South Dakota-based Hepar BioScience LLC sought
bankruptcy protection after a diarrhea virus detected in pork
by-products affected its peptone supply business.

The Debtor is in the business of receiving porcine (pork)
by-products (concentrated peptone, a functional pork protein and
animal fat) from its largest supplier (SPLIMobren) and other meat
by-products from other suppliers that are primary used in the
porcine animal nutrition feed industry (concentrated porcine
peptone) and biodiesel or animal feed business (animal fat).

In mid-May 2013, PEDv (porcine epidemic diarrhea virus) was first
detected in the United States having arrived from and identified
originally from China by its unique DNA.  Some leading experts in
the pork industry have advocated against same species feeding
consumption similar to the governmental FDA imposed prohibition of
same species ruminant (bovine or beef) origin animal protein
feeding in 2009.  As it relates to the business of Hepar, this
advice has adversely affected its ability to sell concentrated
porcine peptone including affecting its value.

The long term affect PEDv will have on pork producers across the
globe is uncertain.  In the short term, there has been a
significant shift on the part of producers, away from same species
feed in favor of lower risk functional proteins (vegetable based
and non-porcine species) as a hedge against same species feed
consumption risk.  This shift has resulted in what appears to be a
"new normal" and many producers have made adjustments to their
feeding practices.  Whether those changed buying habits can be
reversed in the event that the PEDv is controlled is unknown at
best.

Starting the first quarter of 2014, Hepar's business has been
severely impacted.  Hepar had its best year ending in 2013, at an
EBITDA of nearly $14MM.  Hepar currently has an annualized EBITDA
of less than $5 million.  Hepar has an outstanding bank loan
balance as of Feb. 17, 2015, in the principal amount of
$19.1 million owed to Northwest Bank.  On January 26th, 2015, Hepar
was sent a "Notice of Default" relative to this indebtedness.
Hepar has been in the process of constructing a plant in North
Sioux City, SD.  That process has been ongoing since 2012.  Hepar
has a Processing Agreement executed in 2012 with SPL/Mobren which
obligates Hepar to process certain raw materials "at cost" for
SPL/Mobren.  In order to be able to meet the obligations under the
Processing Agreement, Hepar will be required to spend $6.5 million
including taxes.  If Hepar is not able to meet the requirements of
the Processing Agreement, it runs the risk of losing the SPL/Mobren
Supply Agreement.  Without the
SPL/Mobren Supply Agreement, Hepar will not be able to continue its
business.

The Debtor on the Petition Date filed motions to (i) pay employee
wages and benefits and (ii) use cash collateral of its prepetition
lender.

                      About Hepar BioScience

Hepar BioScience LLC filed a Chapter 11 bankruptcy petition (Bankr.
D. S.D. Case No. 15-40057) in Sioux Falls, South Dakota, on Feb.
20, 2015.  The case is assigned to Judge Charles L. Nail, Jr.

The meeting of creditors under 11 U.S.C. Sec. 341 is slated for
March 25, 2015.  The deadline for filing claims is May 26, 2015.

The Debtor is represented by Clair R. Gerry, Esq., at Gerry & Kulm
Ask, Prof. LLC, in Sioux Falls, serves as counsel.

The Debtor estimated $10 million to $50 million in assets and debt.
The official schedules of assets and liabilities are due March 6,
2015.


HEPAR BIOSCIENCE: Seeks Approval to Use Cash Collateral
-------------------------------------------------------
Hepar BioScience LLC seeks approval from the Bankruptcy Court to
use cash collateral until April 2015.

Hepar has an outstanding bank loan balance of $19.1 million owed to
Northwest Bank of Sioux City, Iowa.  Northwest Bank holds a
perfected lien possession on all of the Debtor's business assets.
The Debtor needs to use accounts receivable to continue its
business and proceed in its Chapter 11 case.

The Debtor seeks preliminary authorization to fund expenses from
the Petition Date until March 11, 2015.  Following another hearing,
the Debtor seeks authorization to sue cash collateral for the
period March 12, to March 31, 2015.  Following another hearing, the
Debtor intends to seek approval to use cash collateral until the
end of April 2015, pursuant to a budget set out on a monthly
basis.

As adequate protection, the Debtor proposes to grant Northwest Bank
a replacement lien for the use of cash collateral on all
postpetition receivables to the extent the collateral is used.
Furthermore, the Debtor will grant Northwest the right to inspect
the collateral, and the Debtor agrees to keep the collateral
insured and to maintain all collateral in its present condition,
absent ordinary wear and tear.

                      About Hepar BioScience

Jefferson, South Dakota-based Hepar BioScience LLC filed a Chapter
11 bankruptcy petition (Bankr. D. S.D. Case No. 15-40057) in Sioux
Falls, South Dakota, on Feb. 20, 2015.  The case is assigned to
Judge Charles L. Nail, Jr.

The meeting of creditors under 11 U.S.C. Sec. 341 is slated for
March 25, 2015.  The deadline for filing claims is May 26, 2015.

The Debtor is represented by Clair R. Gerry, Esq., at Gerry & Kulm
Ask, Prof. LLC, in Sioux Falls, serves as counsel.

The Debtor estimated $10 million to $50 million in assets and debt.
The official schedules of assets and liabilities are due March 6,
2015.


HOME LOAN: Moody's Reviews 'B3' CFR for Upgrade
-----------------------------------------------
Moody's Investors Service placed Home Loan Servicing Solutions,
Ltd's (HLSS) B3 Corporate Family and Senior Secured Bank Credit
Facility ratings on review for upgrade.

On Review for Upgrade:

Issuer: Home Loan Servicing Solutions, Ltd

  -- Corporate Family Rating, Placed on Review for Upgrade,
     currently B3

  -- Senior Secured Bank Credit Facility Jun 27, 2020, Placed on
     Review for Upgrade, currently B3

Outlook Actions:

  -- Outlook, Changed To Rating Under Review From Negative

The review for upgrade reflects the February 22 announcement that
HLSS has entered into a definitive agreement to merge into a wholly
owned subsidiary of New Residential Investment Corp. (unrated).
The acquisition by New Resi provides stability to HLSS,
particularly the potential for additional liquidity and capital
resources.

The companies have not announced whether the senior secured term
loan will be repaid at closing of the acquisition.  It is uncertain
whether the two companies will ultimately be merged together or
whether HLSS will remain a separate subsidiary and if so what level
of support it will receive from New Residential.  Without support,
HLSS would remain highly reliant on Ocwen Financial Corp (B3
negative outlook).

During the review, Moody's will assess HLSS' or the new term loan
obligor's: 1) organizational structure, 2) funding strategy, 3)
liquidity and capital resources, as well as 4) the impact of Ocwen
on its financial strength.

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

HLSS' ratings could be upgraded if the capital and liquidity
resources of New Residential are deemed to provide additional
protection for the term loan lenders at the same time that the
uncertainties with respect to Ocwen lessen.

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


HUFFMAN CONSTRUCTION: Case Summary & 11 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Huffman Construction, Inc.
        10149 South 300 East
        Warren, IN 46792

Case No.: 15-10261

Chapter 11 Petition Date: February 24, 2015

Court: United States Bankruptcy Court
       Northern District of Indiana (Fort Wayne Division)

Judge: Hon. Robert E. Grant

Debtor's Counsel: David R. Krebs, Esq.
                  TUCKER HESTER BAKER & KREBS, LLC
                  One Indiana Square, Suite 1600
                  Indianapolis, IN 46204
                  Tel: 317-833-3030
                  Fax: 317-608-1133
                  Email: dkrebs@thbklaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Cynthia M. Huffman, treasurer.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/innb15-10261.pdf


IBAHN CORP: Chapter 11 Case is Dismissed
----------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that IBahn Corp.'s Chapter 11 has been dismissed at
the company's behest after exhausting its cash.  According to the
report, a Delaware bankruptcy judge obliged, signing the order on
Feb. 3, saying the dismissal in no way would upset the sale.

                           About iBahn Corp.

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

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


INFINITY ENTERPRISES: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Infinity Enterprises Worldwide Corp.
           aka Infinique, LIV
           aka Premier USA Inc.
           aka dfi
        5668 Strand Court
        Naples, FL 34110

Case No.: 15-01743

Chapter 11 Petition Date: February 24, 2015

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

Debtor's Counsel: Michael R Dal Lago, Esq.
                  HAHN LOESER & PARKS LLP
                  5811 Pelican Bay Blvd., Suite 650
                  Naples, FL 34108
                  Tel: (239) 571-6877
                  Email: mike@dallagolaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Nir Sharon, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb15-01743.pdf


INT'L FOREIGN EXCHANGE: Liquidating Plan Approved
-------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that International Foreign Exchange Concepts
Holdings Inc., is on the cusp of wrapping up a 16-month excursion
through bankruptcy following the court's approval of a Chapter 11
plan.  According to the report, the plan, approved in a Feb. 3
confirmation order, resulted from discussions with lender AMF-FXC
Finance LLC.  AMF has claims totaling about $34 million.

As a result of substantial negotiations with AMF, the Plan
contemplates that all creditors other than AMF who hold allowed
general unsecured claims will be paid on, or as soon as reasonably
practicable after, the Effective Date of the Plan (i) in the IFEC
LP bankruptcy case, cash in an amount equal to 50% of such claims,
and (ii) in the IFEC Holdings bankruptcy case, cash in an amount
equal to 10% of
such claims.  The Plan contemplates that FXC creditors will be paid
in full in cash.  AMF will receive the remaining net proceeds of
the IFEC Holdings and IFEC LP Assets, which are currently estimated
to be cash in an amount equal to 9% to 17% of AMF's claims as of
the Effective Date, plus rights to receive certain payments in the
future, if any.

             About International Foreign Exchange

International Foreign Exchange Concepts Holdings, Inc., and
International Foreign Exchange Concepts, L.P., sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
13-13380) on Oct. 17, 2013.

Judge Robert Gerber oversees the case.  Counsel to the Debtors is
Henry P. Baer, Jr., Esq., at Finn Dixon & Herling LLP, in
Stamford, Connecticut.  The Debtors' restructuring advisors is CDG
Group.  DiConza Traurig LLP serves as conflicts counsel.  The
Debtors' special counsel is Withers Bergman LLP.  The Debtors'
notice, claims, solicitation and balloting agent is Logan &
Company, Inc.

Counsel to AMF-FXC Finance LLC, the DIP lender, is Michael L.
Cook, Esq., and Christopher Harrison, Esq., at Schulte Roth &
Zabel LLP, in New York.

International Foreign Exchange Concepts Holdings Inc., the parent
of investment adviser FX Concepts LLC, sold assets for
$7.48 million to Ruby Commodities Inc., at an auction held
Nov. 25, 2013.  The sale was an old-fashioned auction with the
assets first offered in six lots and then in bulk.  The piecemeal
auction fetched combined bids of $3.38 million.  When the assets
were offered in bulk, Ruby came out on top with an offer of $7.48
million.


INTELLIPHARMACEUTICS INT'L: Incurs $3.8 Million Loss in 2014
------------------------------------------------------------
Intellipharmaceutics International Inc. reported a net loss of
$3.85 million on $8.76 million of revenues for the year ended
Nov. 30, 2014, compared to a net loss of $11.5 million on $1.52
million of revenues during the prior year.

As of Nov. 30, 2014, the Company had $7.87 million in total assets,
$2.96 million in total liabilities and $4.90 million in
shareholders' equity.

Dr. Isa Odidi, Chairman and CEO, stated, "2014 was a pivotal year
for Intellipharmaceutics.  It represents the first full year of
sales under our commercialization agreement with Par for
dexmethylphenidate hydrochloride extended-release capsules.  We are
also excited about the progress we continue to make in the
development of our Rexista abuse-deterrent delivery technologies
including a variant under development which holds promise in
mitigating against the likelihood of opioid overdose.  The Company
is now expanding the use of its complex generic drug delivery
capabilities by increased focus on innovative applications in the
specialty new-drug space."

Domenic Della Penna, chief financial officer, stated, "In 2014 we
reduced our operating losses by 48%, and while we are not cash flow
positive, we are moving towards commercial readiness should any
pending generic drug applications be approved in the near term.
The recent achievement of an 'acceptable' rating from the FDA for
our Toronto manufacturing facility is an important part of that
readiness."

Deloitte LLP, Toronto, Canada, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Nov. 30, 2014, citing that the Company's recurring losses
from operations and the accumulated deficit cast substantial doubt
about its ability to continue as a going concern.

A full-text copy of the Form 6-K Report is available at:

                        http://is.gd/efx3HY

                     About Intellipharmaceutics

Toronto, Canada-based Intellipharmaceutics International Inc. is
incorporated under the laws of Canada.  Intellipharmaceutics is a
pharmaceutical company specializing in the research, development
and manufacture of novel and generic controlled-release and
targeted-release oral solid dosage drugs.  Its patented
Hypermatrix(TM) technology is a multidimensional controlled-
release drug delivery platform that can be applied to the
efficient development of a wide range of existing and new
pharmaceuticals.  Based on this technology,
Intellipharmaceuticshas a pipeline of product candidates in
various stages of development, including filings with the FDA in
therapeutic areas that include neurology, cardiovascular,
gastrointestinal tract, diabetes and pain.

Deloitte LLP, in Toronto, Canada, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Nov. 30, 2013.  The independent auditors noted that
Company's recurring losses from operations and the accumulated
deficit raise substantial doubt about its ability to continue as a
going concern.


IVANHOE ENERGY: To Delist Shares From Toronto Stock Exchange
------------------------------------------------------------
Ivanhoe Energy Inc. on Feb. 25 disclosed that the Toronto Stock
Exchange has determined to delist the common shares and the
convertible debentures of the company at the close of business on
March 26, 2015 for failure to meet the continued listing
requirements of the TSX.  The common shares and debentures, which
were suspended from trading on the TSX on February 20, 2015, will
remain suspended until the delisting date.

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


JOSEPH LODATO: Foreclosure Auction Set for March 20
---------------------------------------------------
Pursuant to a Judgment of Foreclosure and Sale dated January 12,
2015 and entered on January 20, 2015, Craig David Zim, Esq., at
Novick Edelstein in Yonkers, as referee, will sell at public
auction at the Queens County Supreme Courthouse 88-11 Sutphin Blvd
in Courtroom # 25, Jamaica, NY on March 20, 2015 at 10:00 a.m., the
premises known as 69 Lane, Middle Village, NY.  The approximate
amount of the lien is $3,069.00 plus interest and costs.  The
premises will be sold subject to provisions of filed judgment and
terms of sale.

The Foreclosure case is, NYCTL 2012-A TRUST, and THE BANK OF NEW
YORK MELLON, as Paying Agent and Collateral Agent and Custodian for
the NYCTL 2012-A TRUST, Plaintiffs against JOSEPH LODATO, INC., et
al Defendant(s), pending before the Supreme Court County of
Queens.

The Plaintiffs are represented by lawyers at:

     SEYFARTH SHAW LLP
     620 Eighth Avenue
     New York, NY 10018


LATTICE SEMICONDUCTOR: S&P Assigns 'BB-' CCR; Outlook Stable
------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB-'
corporate credit rating to Hillsboro, Ore.-based Lattice
Semiconductor Corp.  The outlook is stable.

At the same time, S&P assigned its 'BB-' issue-level rating and '3'
recovery rating to the company's proposed $350 million senior
secured term loan due 2021.  The '3' recovery rating indicates
S&P's expectation for meaningful (50% to 70%) recovery of principal
in the event of payment default.

"The ratings on Lattice reflect our view of the company's
challenging business conditions in 2015, competitive programmable
logic devices (PLD) landscape, and near-term integration risk,
which our expectation for consistently positive free operating cash
flow (FOCF) and debt reduction through excess cash flow sweep
partially offset," said Standard & Poor's credit analyst Andrew
Chang.

The stable outlook reflects S&P's expectation that Lattice will not
encounter major issues as it integrates Silicon Image and as it
adheres to its stated goal of reducing leverage through debt
reduction.

S&P would consider a lower rating if Lattice is unsuccessful in
integrating Silicon Image's business, leading to margin compression
or market share loss in its key products, or if the company doesn't
use FOCF for debt repayment, such that adjusted leverage rises
above mid-3x.

An upgrade is unlikely over the next 12 months given Lattice's
small scale compared to that of its peers, the Silicon Image
integration risk, and the near-term revenue risk reflecting
vulnerability to industry cycles.



MAPLE HEIGHTS CITY: Moody's Cuts GOLT Debt Rating to 'Ba2'
----------------------------------------------------------
Moody's Investors Service downgraded the City of Maple Heights,
OH's general obligation limited tax (GOLT) debt rating to Ba2 from
Baa3, affecting $14 million of outstanding bonds. Concurrently, the
rating has been placed under review for possible downgrade.

The downgrade to Ba2 reflects the continued deterioration of the
city's financial position based on fiscal 2013 financial results,
as well as the city's recent failure to make timely payment on
three Ohio Water Development Authority (OWDA) loans.  Additionally,
the rating incorporates the city's weak economic, tax base and
demographic fundamentals which have continued to decline since the
recession; extremely narrow liquidity and reserves across all
governmental funds; average debt burden and above average exposure
to unfunded pension liabilities based on participation in two
statewide cost-sharing plans.

The placement of the city under review for potential downgrade is
due to continued deterioration of the city's financial position
during fiscals 2013 and 2014 resulting in late payments on state
loans.  The review will seek information related to fiscal 2014
year-end results; the fiscal 2015 budget and year-to-date
performance; the status of expected revenue enhancements and
expenditure reductions outlined in the city's Financial Recovery
Plan; and any expected delays in future debt service or state loan
payments.

What could make the rating go up:

  -- Sustained economic development leading to expansion and
     diversification of the tax base

  -- Significant improvement in General and governmental fund
     reserves

  -- Successful implementation of a feasible financial recovery
     plan

What could make the rating go down:

  -- Further economic and demographic challenges

  -- Continued weakening of the city's financial position in
     fiscal 2014

  -- Delay or failure to pay debt and debt-like obligations

Maples Heights is a mostly residential, inner-ring suburb of
Cleveland.  As of the 2010 census, the city's population was
23,128.

Debt service on the city's GOLT bonds is secured by the city's
general obligation limited tax pledge, subject to the State of
Ohio's (Aa1 stable) 10 mill limitation.

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


MERCY MEDICAL: S&P Puts 'BB' 2000 Bonds Rating on Watch Positive
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB' long-term rating
on Cuyahoga County, Ohio's series 2000 hospital facilities revenue
bonds, issued for Mercy Medical Center (MMC), on CreditWatch with
positive implications.

"The CreditWatch placement reflects the application of our group
rating methodology criteria and our view of MMC's 'highly
strategic' group status within Sisters of Charity Health System,"
said Standard & Poor's credit analyst Santo Barretta.

S&P anticipates receiving further information from the SCHS
management team within 90 days to generate a clearer understanding
of its group credit profile.  S&P anticipates resolving the
CreditWatch listing within that timeframe and will publish a full
report on MMC at that time.



METALICO INC: Adam Weitsman Submits $0.78 Apiece Proposal
---------------------------------------------------------
Adam Weitsman of Upstate Shredding, LLC, the East Coast's largest
privately owned scrap metal processor and recycling center,
announced that he has submitted a written proposal to the chairman,
president and chief executive officer of Metalico, Inc. (NYSE MKT:
MEA) to acquire all of the outstanding shares of Metalico for $0.78
per share in cash.  Mr. Weitsman's proposal represents an
approximately 32% premium to the average market price of Metalico's
shares over the past 30 days and an approximately 27% premium to
the closing price of Metalico's shares on Feb. 20, 2015.  Mr.
Weitsman currently owns approximately 11.7% of the outstanding
common stock of Metalico.

"I am deeply disappointed by the apparent unwillingness of MEA's
Board and management to meet with me to date, despite my
significant holdings in MEA," said Mr. Weitsman.  "As a result, I
have decided to publicly announce my proposal to acquire MEA, which
I believe represents a compelling opportunity for MEA's
stockholders to obtain liquidity for their shares while maximizing
the value of their shares at a premium.  I strongly believe that
MEA has great potential but do not believe it is in the best
interest of stockholders for MEA to continue as an independent
company, let alone a public company, given MEA's long-term
underperformance and poor stock price performance," continued Mr.
Weitsman.

Weitsman's proposal is conditioned upon the satisfactory completion
of confirmatory due diligence, obtaining all material and necessary
consents and approvals, including by MEA's convertible noteholders
and bank lenders, waiver of any Company anti-takeover provisions,
including redemption of the Company's poison pill, other customary
conditions for a transaction of this type and size and the
execution of a definitive agreement.  Weitsman is prepared to open
up discussions with MEA's convertible noteholders and bank lenders
and is highly confident of receiving their consent for this
transaction based on Upstate Shredding's financial strength and
reputation in the industry.  Upstate Shredding will pursue
replacement financing if necessary.

With 36 straight quarters of profitability, Upstate Shredding has
considerable financial strength and full knowledge and expertise in
the geographical region in which MEA operates.  Upstate Shredding
is the recipient of a number of awards, including, in 2014, the
Platts, a division of McGraw Hill, global award for Scrap Company
of the Year.  Upstate Shredding was also a finalist for AMM
(American Metal Market) Scrap Company of the Year in 2014.
Weitsman's affiliates have been in the scrap metal recycling
business since 1938 and therefore limited confirmatory due
diligence will be required.

                           About Metalico

Metalico, Inc., is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $34.8
million in 2013 following a net loss attributable to the Company
of $13.1 million in 2012.  For the nine months ended Sept. 30,
2014, Metalico reported a net loss attributable to the Company of
$10.52 million.

As of Sept. 30, 2014, the Company had $294 million in total assets,
$157 million in total liabilities, and $138 million in total
equity.


METALICO INC: Hires Gordian for Strategic Review
------------------------------------------------
Metalico, Inc., has retained Gordian Group, LLC, a leading
independent investment banking firm, to assist the Company with an
overall review of its business strategies going forward.

Gordian will conduct a thorough evaluation of the Company and
advise its Board of Directors as the Board considers alternatives
for Metalico's future, including continued independence as a public
corporation, combinations or joint ventures with suitable partners
or investors, sales of assets, and a sale of the Company, including
an analysis of an unsolicited non-binding offer made by a
stockholder Monday afternoon and other unsolicited bids previously
delivered to Metalico or to come in the future.  The firm was
chosen from among a number of qualified investment banks following
a detailed selection process conducted by the Board over several
weeks.

Earlier this month the Company adopted a Stockholder Rights Plan to
assure that all of the Company's stockholders receive fair and
equal treatment in the event of any proposed takeover of the
Company and to guard against tactics to gain control of the Company
without paying all stockholders a premium for that control.  The
Rights Plan and the overall review are intended to enhance the
interests of the Company's shareholders.

A portion of the compensation due to Gordian is provided in the
form of 1,000,000 shares of the Company's common stock, par value
$0.001 per share, vesting in three installments: 333,333 shares
vested as of Feb. 23, 2015; 333,333 shares vesting as of March 25,
2015; and 333,334 shares vesting as of April 24, 2015, according to
a document filed with the Securities and Exchange Commission.

                           About Metalico

Metalico, Inc., is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $34.8
million in 2013 following a net loss attributable to the Company
of $13.1 million in 2012.  For the nine months ended Sept. 30,
2014, Metalico reported a net loss attributable to the Company of
$10.52 million.

As of Sept. 30, 2014, the Company had $294 million in total assets,
$157 million in total liabilities, and $138 million in total
equity.



MINERAL PARK: Trucks Fraught With Safety Issues, Inspector Says
---------------------------------------------------------------
Most of the trucks at the Mineral Park open-pit copper mine in
Chloride in Mohave County were "junk" and fraught with safety
issues, Hubble Ray Smith at Daily Miner reports, citing Joe Hart,
Arizona's mine inspector.

Daily Miner quoted Mr. Hart as saying at the Conservative
Republican Club of Kingman's monthly meeting last week, "They
thought we were trying to shut them down, and I said, 'If there's
any mine I want to save, it's Mineral Park.'  But they've got to do
it safely.  They wanted to run on a shirt-tail operation."

Citing Dan Worthington, chairperson and chief executive officer of
CTGX Mining, which filed a motion in the bankruptcy case for an
extension of restructuring, Daily Miner relates that the Bankruptcy
Court approved on Jan. 20 the sale of Mineral Park's assets to
Origin Mining Corp. for $10 million -- $5 million less than what
the Mine owes Mohave County in delinquent property taxes -- without
allowing enough time for objections to the sale, setting Jan. 16 as
a reasonable opportunity for any interested party to make the
highest and best offer for the assets.

Daily Miner quoted Mr. Worthington as saying, "Despite our efforts
to make a better offer, and despite the objections of the many
parties, the court finalized the sale of the Mercator mine to the
original party on or about Jan. 29.  CTGX tried to insert itself
into the discussions with a better offer, but I guess we were too
late.  We were planning to operate the Mercator mine and the
contiguous mining property."

Daily Miner states that Mineral Park requested a tax abatement of
20 to 30 percent of the total amount owed based on devaluation of
the mine, which according to Mohave County Assessor Ron Nicholson,
fell from more than $600 million in value down to about $300
million and now has a buyer for $10 million.  Mineral Park
currently owes the county $3.8 million in back property taxes, more
than $7 million to various school districts and about $1.5 million
to Mohave Community College, the report says, citing Mohave County
Supervisor Gary Watson.

                    About Mineral Park

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

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

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

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

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

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

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


NASSAU TOWER: Court to Close Bankruptcy Case on March 17
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey signaled
it will close the Chapter 11 bankruptcy case of Nassau Tower Realty
LLC on or after March 17, 2015, unless an objection to the closing
is filed with the court and served on the United States Trustee by
March 9.

In the event a timely objection is filed, a hearing will be held on
March 16, 2015, at 11:00 a.m., U.S. Bankruptcy Court, Courtroom #8,
402 East State Street in Trenton, New Jersey.

                        About Nassau Tower

Bay Head, N.J.-based Nassau Tower Realty LLC filed for Chapter 11
relief (Bankr. D.N.J. Case No. 13-24984) on July 9, 2013.  The
Hon. Judge Michael B. Kaplan presides over the case.  Paul
Maselli, Esq., and Kimberly Pelkey Sdeo, Esq., at Maselli Warren,
P.C., represent the Debtor as counsel.  The Debtor estimated
assets of $10 million to $50 million and debts of $10 million to
$50 million.

The Debtor is the owner of 17 parcels of real estate.  It owns
13 parcels in New Jersey, 3 parcels in Pennsylvania, one parcel in
Maine.  Most of the properties generate income in the form of
rents paid by tenants.

The petition was signed by Louis Mercatanti, officer of Nassau
Holdings, Inc.


NICHOLS CREEK: RS2 LLC Balks at Whitney Bank's Bid to Dismiss Case
------------------------------------------------------------------
RS2 LLC told the U.S. Bankruptcy Court for the Middle District of
Florida that the Chapter 11 Bankruptcy case of Nichols Creek
Development LLC should not be dismissed because the argument of
Whitney Bank that the Debtor's case was filed in bad faith is
without merit, and the dismissal will only benefit the bank and it
is detrimental to the remaining secured creditors.

As reported in the Troubled Company Reporter on Feb. 24, 2015, the
Debtor asked the Court to deny Whitney Bank's motion to dismiss the
Debtor's Chapter 11 case or, in the alternative, for relief from
the automatic stay with respect to the Debtor's property located at
9595 New Berlin Court, Jacksonville.

The Debtor related that Whitney Bank, formerly known as Hancock
Bank, cannot establish bad faith and is not entitled to relief
under Section 362 or Section 1112 of the Bankruptcy Code.
Additionally, the Debtor said that there is a substantial equity
cushion in the property for Whitney and the property is not
declining in value. In fact, it agreed, subject to Court approval,
to sell the property for $14,900.

On Jan. 9, 2015, Hancock Bank, now Whitney Bank, filed proof of
claim in the amount of $8,753,776 regarding a loan secured by a
separate real estate parcel owned by another company.  On Feb. 4,
Hancock Bank amended the proof of claim to change the amount of the
claim to $8,680,438, TCR noted.

The Debtor avers that the amended proof of claim is misleading on
its face and should be a claim amount of $0.

RS2 LLC retained as counsel:

  David K. Manicci, Esq.
  W. Crit Smith, Esq.
  Smith, Thompson, Shaw, Minacci & Colon P.A.
  3520 Thomasville Road
  Tallahassee, Florida 32309-3469
  Tel: (850) 893-4105
  Fax: (850) 893-7229
  Email: davidm@stslaw.com
         crits@stslaw.

                      About Nichols Creek

Nichols Creek Development, LLC, sought Chapter 11 bankruptcy
for protection (Bankr. M.D. Fla. Case No. 14-04699) on Sept. 26,
2014, in Jacksonville, Florida.  R.L. Mitchell signed the petition
as member manager.  The Debtor disclosed total assets of $21.7
million and total liabilities of $11.5 million.

The Debtor owns property at 9596 New Berlin Court, Jacksonville,
Florida, which is valued at $21.8 million and pledged as
collateral to secured creditors owed a total of $11.6 million.
There is no secured debt.

The Law Offices of Jason A. Burgess, LLC, serves as the Debtor's
counsel.


NII HOLDINGS: Vanguard Group No Longer Holds Shares
---------------------------------------------------
The Vanguard Group - 23-1945930 disclosed in a Schedule 13G
(Amendment No. 2) filing with the Securities and Exchange
Commission that as of December 31, 2014, it no longer held shares
of NII Holdings Inc. common stock.  A copy of the filing is
available at http://is.gd/umHMhn

                        About NII Holdings

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

NII Holdings and 12 wholly owned subsidiaries sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and
are assigned to Judge Shelley C. Chapman.  The Debtors have tapped
Jones Day as counsel and Prime Clerk LLC as claims and noticing
agent.  NII Holdings disclosed $1.22 billion in assets and $3.068
billion in liabilities as of the Chapter 11 filing.

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

NIU Holdings LLC, holder of 100% of the equity of Nextel
International (Uruguay), LLC, sought Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 15-10155) on Jan. 25, 2015.
NIU Holdings is a direct subsidiary of Netherlands-based NIHD
Telecom Holdings, B.V., and affiliated with debtors NII Holdings,
Inc., et al.  NIU Holdings' principal asset is its equity
Interests in Nextel Uruguay.  The Debtor estimated its assets at
$500 million to $1 billion and debt at $0 to $50,000.


NNN 1818 MARKET STREET: Opposes Daymark's Case Dismissal Motion
---------------------------------------------------------------
NNN 1818 Market Street 16, LLC, et al., ask the U.S. Bankruptcy
Court for the Central District of California to deny a bid by
Daymark Properties Realty, Inc., for dismissal of their jointly
administered Chapter 11 cases.

The Debtors assert that they can, and will demonstrate, that there
are at least methodologies for reorganization that will result in a
higher return for them and other tenant-in-common ("TIC")
investors.

Counsel to the Debtors, John L. Smaha, Esq., of Smaha Law Group,
APC, relates that the Debtors have two potential plan approaches
which will significantly increase the return for real property.
For one, the Debtors have a term sheet commitment from The Broe
Group, a private equity real estate firm, which provides a
methodology by which the Debtors would effectively refinance the
real property and allow for the continued ownership and future
distribution of dividends back to the ownership group, including
the Debtors.  The current proposal being considered from The Broe
Group includes a property management component that would
significantly reduce the management fees involved and would
increase annual returns on the real property.  Under the plan, the
refinancing would occur in late 2015 or early 2016, unless a
defeasance is waived by the secured creditors.  A plan of
reorganization based on The Broe Group's proposal would provide for
a tax free roll up to TIC investors with a valuation of $190
million and a new 75% loan of $142,500 leaving $47,500 of equity or
roughly a dollar for dollar return to the original investments.
The new loan would pay the first and second of about $130 million
with the defeasance cost being eliminated.  The Plan would propose
that investors could remain as investors or be bought out with a
higher return than the alternative Shorenstein purchase would
generate.

In the alternative, by holding off on the sale of the real property
until December 2015 or later, the real property would realize an
increased return of as much as $10 million to $15 million.  This
increased profit from the sale of the real property would be
separate and apart from other claims that could be determined as
between Daymark and the TIC investors including but not limited to
LNR fees of $2,600,000, $6,000,000 of improper management fees and
interest, and over $3,000,000 of improper credit and interest.  

Daymark, which was formerly known as Triple Net Properties Realty
Inc., was an integral part of the TIC interests securities offering
which was structured as a sale of TIC O's ownership of the Market
Street property to the subsequent TIC's, including the Debtors.
According to the Debtors, during the offering process, Daymark
engaged in a pattern and practice of non-disclosure of material
facts while doing business in Pennsylvania acting as a real estate
broker.  Among other things, the Debtors claim that Daymark never
disclosed to them or any of the TICs the fact that it was not
licensed at the time that it received $5,904,000.

A copy of the Debtors' objection to the Dismissal of Motion is
available at:

    http://bankrupt.com/misc/NNN_1818_Market_Obj_Dismissal.pdf

                   About NNN 1818 Market Street

NNN 1818 Market Street 16, LLC, filed a Chapter 11 bankruptcy
petition on Jan. 5, 2015. The Debtor estimated assets and debts of
$10 million to $50 million.  Two affiliates, NNN 1818 Market Street
21, LLC and and NNN 1818 Market Street 37, LLC sought bankruptcy
protection on Jan. 6, 2015.  The cases are jointly administered
under the lead case of NNN 1818 Market Street 16, LLC, case number
2:15-bk-10111-TD.

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

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



NPS PHARMACEUTICALS: Shire Completes Acquisition
------------------------------------------------
Shire plc completed its tender offer for all of the outstanding
shares of NPS Pharmaceuticals, Inc., and the acquisition of NPS
Pharma.

The tender offer expired Feb 20, 2015, and was not extended.  As of
the expiration of the tender offer, a total of approximately
88,869,118 common shares of NPS Pharma (excluding 7,599,694 common
shares of NPS Pharma guaranteed to be delivered within the next
three NASDAQ trading days) had been validly tendered and not
withdrawn pursuant to the tender offer, representing approximately
81.7% of the outstanding common shares of NPS Pharma.  All shares
that were validly tendered and not withdrawn pursuant to the tender
offer were accepted for payment.

After the acceptance of shares that were validly tendered and not
withdrawn pursuant to the tender offer, Shire completed the
acquisition of NPS Pharma through a merger of one of Shire's
subsidiaries with and into NPS Pharma.  In connection with the
merger, all common shares of NPS Pharma that were not accepted for
payment in the tender offer (excluding any shares held by NPS
Pharma as treasury stock (other than any shares held in an NPS
Pharma benefit plan) and any shares with respect to which the
holders have properly demanded appraisal rights in accordance with
Delaware law) were converted into the right to receive $46.00 per
share in cash, without interest and less any applicable withholding
taxes, the same price that will be paid for shares accepted for
payment in the tender offer.  Following completion of the merger,
NPS Pharma became a wholly owned subsidiary of Shire and NPS
Pharma's shares ceased to be traded on NASDAQ.

Shire's Chief Executive Officer, Flemming Ornskov, MD, MPH,
commented:

"We are delighted to have completed the acquisition of NPS Pharma,
and look forward to working with their talented employees to
transform the lives of patients with rare diseases and specialty
conditions.

Shire's global strength and expertise in both rare diseases and GI
medicines, coupled with NPS Pharma's rare disease capabilities, and
our shared deep commitment to serving the needs of patients, make
this an excellent strategic fit.  Together, we aim to provide more
patients and their families around the world with much needed
medicines and enhanced support services."

As a result of the Merger, the Company has terminated all offerings
of its securities pursuant to its existing registration
statements.

Terminates Indenture

On Feb. 23, 2014, in connection with the Merger, the Company, as
issuer, terminated the Indenture dated as of Aug. 8, 2013, by and
between the Company and The Bank of New York Mellon, as trustee.
No termination penalties were incurred by the Company.

NASDAQ Delisting

On Feb. 21, 2015, in connection with the Merger, the Company
provided notice to NASDAQ of the completion of the Merger and
requested that NASDAQ halt trading in the Shares for Feb. 23, 2015,
and suspend trading of the Shares effective Feb. 23, 2015.  In
addition, the Company requested that NASDAQ file a Notification of
Removal from Listing or Registration on Form 25 with the SEC to
delist the Shares from NASDAQ and deregister the Shares under
section 12(b) of the Securities Exchange Act of 1934, as amended.

Subsequently, on Feb. 23, NASDAQ filed a Form 25 with the SEC to
remove from listing or registration the common stock of NPS
Pharmaceuticals.

Change in Control

As a result of the consummation of the Offer and the Merger, a
change in control of the Company occurred.  Upon the Effective
Time, the Company became a wholly owned subsidiary of Shire.

At the Effective Time, the directors of Shire, immediately prior to
the Effective Time, became the directors of the Surviving
Corporation.  Accordingly, each of Francois Nader, Peter G.
Tombros, Michael W. Bonney, Colin Broom, Georges Gemayel, Pedro
Granadillo, James G. Groninger, Pierre Legault and Rachel R.
Selisker ceased serving as members of the Company's board of
directors as of the Effective Time.  In addition, immediately
following the Effective Time, all of the officers of the Company
immediately prior to the Effective Time were removed and were
replaced by the officers of Purchaser.

Pursuant to the Merger Agreement, at the Effective Time, the
certificate of incorporation of the Company was amended and
restated in its entirety.  In addition, immediately after the
Effective Time, the bylaws of the Company were amended and restated
in their entirety.

                      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 $8.70 million in 2014, a
net loss of $13.5 million in 2013 and a net loss of $18.7 million
in 2012.

As of Dec. 31, 2014, NPS Pharmaceuticals had $290 million in total
assets, $156 million in total liabilities and $134 million in total
stockholders' equity.


NUINSCO RESOURCES: TSX Initiates Remedial Delisting Review
----------------------------------------------------------
Nuinsco Resources Limited on Feb. 25 disclosed that it has received
a letter advising the Company that the Toronto Stock Exchange is
reviewing the eligibility for continued listing on the TSX of the
securities of the Company.  The TSX initiated its delisting review
because the price and market value of the publicly-held common
shares of Nuinsco fell below levels required under TSX rules.
Under the TSX's remedial review process, the Company has been
granted 120 days to comply with all requirements for continued
listing.

It is the intent of the Company to maintain a public listing for
the Company's shares.  In addition to working with the TSX during
this period, management will evaluate alternative listing options.
There can be no assurance that either the Company will be able to
achieve compliance with the TSX's listing requirements within the
required time frame or will secure an alternative listing.

                About Nuinsco Resources Limited

Nuinsco -- http://www.nuinsco.ca-- is a growth-oriented,
multi-commodity mineral exploration company that is evaluating
projects located in world-class mineralized belts in Canada and
internationally.  In addition to its property holdings in Ontario,
Saskatchewan and Turkey, Nuinsco owns common shares in Victory
Nickel Inc. as well as a participating interest in Victory Nickel
Inc.'s sales of frac sand and 7.5% of CBay Minerals Inc., a private
company that is a dominant player in Quebec's Chibougamau mining
camp with assets including a permitted mill and tailings facility,
eight past-producing copper/gold mines and a 38,850 hectare land
position.  Shares of Nuinsco trade on the Toronto Stock Exchange
under the symbol NWI.


OMNOVA SOLUTIONS: Moody's Says Shareholder Deal Avoids Proxy Fight
------------------------------------------------------------------
Moody's Investors Service said that OMNOVA Solutions, Inc.'s
agreement with Barrington Capital Group, L.P., will enable the
company to avoid a credit negative proxy fight in the spring, but
the extent to which the company will adopt Barrington's proposals
and the resultant impact on OMNOVA's credit profile remains
uncertain at present.

As previously reported by The Troubled Company Reporter, OMNOVA
carries a B1 Long Term Corporate Family Rating since 2013.

Headquartered in Beachwood, Ohio, OMNOVA Solutions Inc.
manufactures decorative and functional surfaces, emulsion polymers,
and specialty chemicals. The company operates in two business
segments: Performance Chemicals, which includes binders, coatings,
and adhesives for the paper and carpet industries; and Engineered
Surfaces, which includes coated fabrics, decorative laminates, and
performance films.


OZ GAS: Gets Court Approval of Premium Finance Agreement With PAC
-----------------------------------------------------------------
OZ Gas Ltd.'s bankruptcy trustee received approval from U.S.
Bankruptcy Judge Thomas Agresti to enter into an agreement with
Premium Assignment Corp.

Under the agreement, PAC will provide $43,665 in financing to Guy
Fustine, the bankruptcy trustee, to purchase insurance coverage for
OZ Gas' business.

As collateral, PAC will be granted a security interest in the
unearned premiums of the insurance policies, according to the
agreement.  

PAC can terminate the insurance policies and collect the unearned
premium once the bankruptcy trustee fails to pay the company under
the agreement.

                    About John D. Oil & Gas;
              OZ Gas; and Great Plains Exploration

Mentor, Ohio-based John D. Oil & Gas Co., is in the business of
acquiring, exploring, developing, and producing oil and natural gas
in Northeast Ohio.  The Company has 58 producing wells.  The
Company also has one self storage facility located in Painesville,
Ohio.  The self-storage facility is operated through a partnership
agreement between Liberty Self-Stor Ltd. and the Company.

John D. Oil's affiliated entities -- Oz Gas, LTD., and Great
Plains Exploration, LLC -- filed voluntary Chapter 11 petitions
(Bankr. W.D. Pa. Case Nos. 12-10057 and 12-10058) on Jan. 11, 2012.
Two days later, John D. Oil filed its own Chapter 11 petition
(Bankr. W.D. Pa. Case No. 12-10063).

On Nov. 21, 2011, at the request of the lender RBS Citizens, N.A.,
dba Charter One, a receiver was appointed for all three corporate
Debtors, in the United States District Court for the Northern
District of Ohio at case No. 11-cv-2089-CAB.  District Judge
Christopher A. Boyko issued an order appointing Mark E. Dottore as
receiver.  The Receivership Order was appealed to the Sixth Circuit
Court of Appeals on Dec. 19, 2011, and the appeal is
currently pending.

Judge Thomas P. Agresti oversees the Chapter 11 cases.  Robert S.
Bernstein, Esq., at Bernstein Law Firm P.C., serves as counsel to
the Debtors.  Each of Great Plains and Oz Gas estimated $10 million
to $50 million in assets and debts.  John D. Oil's balance sheet at
Dec. 31, 2011, showed $6.98 million in total assets, $13.3 million
in total liabilities, and a stockholders' deficit of $6.28 million.
The petitions were signed by Richard M. Osborne, CEO.

The United States Trustee said a committee under 11 U.S.C. Sec.
1102 has not been appointed because no unsecured creditor responded
to the U.S. Trustee's communication for service on the committee.


PANHANDLE EASTERN: Fitch Affirms 'BB' Rating on Jr. Sub. Notes
--------------------------------------------------------------
Fitch Ratings has affirmed its Issuer Default Rating (IDR) and
senior unsecured rating on Panhandle Eastern Pipe Line Co.
(Panhandle) at 'BBB-' and its junior subordinated notes at 'BB'.
The Rating Outlook is Stable.  Approximately $1.1 billion in debt
is affected by today's action.

KEY RATING DRIVERS

Parent Company Affiliation: The affirmation reflects Panhandle's
affiliation with Energy Transfer Partners, LP (ETP; IDR:
'BBB-'/Stable Outlook) and expectations that ETP will continue to
manage Panhandles's credit metrics and liquidity needs at levels
appropriate to support its 'BBB-' rating.  Panhandle is a
wholly-owned subsidiary of ETP.  Panhandle was merged with Southern
Union Company (SUG) last year, with all notes of SUG and Panhandle
becoming pari passu.  Fitch does not expect any additional material
transactions or growth initiatives at Panhandle and expects that
future debt maturities will be financed through issuance at the ETP
level.  ETP is expected to provide any liquidity needs to Panhandle
and refinance any Panhandle maturities at the ETP level and take
any excess cash flow to use at ETP.  Panhandle's standalone credit
profile is consistent with a 'BBB-' or better IDR; however, given
their strategic, operational and legal ties, Fitch believes it
appropriate to link Panhandle's ratings with those of its parent
ETP.  An upgrade or downgrade at ETP would likely lead to an
upgrade or downgrade at Panhandle.

Stable Cash Flow: Panhandle's revenue is largely derived from
long-term capacity reservation contracts for its pipeline
operations.  The majority of Panhandle's revenue and cash flow is
from volume and commodity price-insensitive reservation contracts
on its various pipelines and storage assets.  Panhandle's
operations currently consist of interstate pipelines that transport
natural gas from the Gulf of Mexico, South Texas and the Panhandle
regions of Texas and Oklahoma to major U.S. markets in the Midwest
and Great Lakes region, as well as underground storage.  Fitch
expects liquidity at Panhandle to be adequate given support from
ETP and leverage to be roughly 3x to 3.5x over the next several
years.

KEY ASSUMPTIONS

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

   -- Large growth projects, such as the Trunkline conversion to
      oil service, will be developed outside of Panhandle.
   -- Future debt maturities to be refinanced through issuance at
      ETP level; any liquidity needs provided by ETP.
   -- Any excess cash upstreamed to ETP

RATINGS SENSITIVITIES

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

   -- Weakening credit metrics with leverage above 5x;
   -- Negative ratings action at ETP.

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

   -- Positive ratings action at ETP.

Fitch has affirmed these ratings with a Stable Outlook:

   -- IDR at 'BBB-';
   -- Senior unsecured notes at 'BBB-';
   -- Jr. subordinate notes at 'BB'.



PARK FLETCHER: Schedules Filing Extended to March 17
----------------------------------------------------
Judge Jeffrey J. Graham of the U.S. Bankruptcy Court for the
Southern District of Indiana extended Park Fletcher Realty, LLC's
deadline to file its schedules of assets and liabilities and
statement of financial affairs to March 17, 2015.

In support of the extension request, the Debtor's counsel, KC
Cohen, Esq., in Indianapolis, Indiana, stated, "This case was filed
in response to the appointment of a receiver in an emergency
fashion and additional time is needed to accumulate and present the
required documents."

Park Fletcher Realty, LLC filed a Chapter 11 bankruptcy petition
(Bank. S.D. Ind. Case No. 15-00843) on Feb. 15, 2015.  The
petition
was signed by Shawn Williams as managing member.  KC Cohen, Esq.,
at KC Cohen, Lawyer, PC, serves as the Debtor's counsel.  The
Debtors estimated assets and liabilities of $10 million to $50
million.  Judge Jeffrey J. Graham presides over the case.


PARK FLETCHER: Seeks to Use FOE Cash Collateral
-----------------------------------------------
Park Fletcher Realty, LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of Indiana, Indianapolis Division,
to obtain postpetition use of cash collateral securing the
prepetition indebtedness from Filbert Orton EAT, LLC.

Prior to the Petition Date, the Debtor's liquidity needs were met
by the rent revenue generated from operating the 15 multi-tenant
and 2 single-tenant industrial flex and office-warehouse building.
The Debtor's loan facility with FOE was essentially crafted to
finance the acquisition of the Real Estate.  FOE's claim arises
from its financing of the transaction in which FOE sold the Real
Estate to the Debtor.  The Debtor had a short window to refinance
that transaction and simply was not able to close in time to avoid
default.  FOE commenced litigation to collect on its Note and
alleged a balance due of less than $12,6000,000, all of which is
secured by the Real Estate and the rents derived from operating it.
   

KC Cohen, Esq., in Indianapolis, Indiana, tells the Court that the
Debtor does not have access to any other source of financing for
its postpetition operations in the near term and this inability to
obtain and maintain sufficient operating liquidity to meet its post
petition obligations on a timely basis may result in a permanent
and irreplaceable loss of value in its assets and a resultant
diminution in the value of the Debtor to the detriment of its
creditors.

The Debtor proposes to grant adequate protection to FOE in the form
of replacement liens and the payments shown in the Budget.  It is
expected that upon closing of a transaction with a take-out lender
FOE will be paid in full from the proceeds of the closing, Mr.
Cohen says.

Park Fletcher Realty, LLC filed a Chapter 11 bankruptcy petition
(Bank. S.D. Ind. Case No. 15-00843) on Feb. 15, 2015.  The
petition
was signed by Shawn Williams as managing member.  KC Cohen, Esq.,
at KC Cohen, Lawyer, PC, serves as the Debtor's counsel.  The
Debtors estimated assets and liabilities of $10 million to $50
million.  Judge Jeffrey J. Graham presides over the case.


PARK FLETCHER: Wants Lender to Turnover Rents
---------------------------------------------
Park Fletcher Realty, LLC, asks the U.S. Bankruptcy Court for the
Southern District of Indiana, Indianapolis Division, to compel
Filbert Orton EAT, LLC, to turnover any rent it is holding.

The Debtor is engaged in the business of owning and operating a
portfolio consisting of 15 multi-tenant and 2 single tenant
industrial flex and office-warehouse building containing a combined
rentable area of 807,986 square feet situated on a non-contiguous
65.114 acre site.

According to KC Cohen, Esq., in Indianapolis, Indiana, subsequent
to the Debtor's default under the FOE Loan Facility, FOE notified
the Debtor's tenants that it was exercising its assignment rights
and directed those tenants to pay it instead of the Debtor.  FOE
shared its accounting of rents so received in the gross amount of
$77,000.  To the extent those funds had not been applied to the
Debtor's obligation to FOE, they are cash collateral, Mr. Cohen
asserts.

Mr. Cohen points out that Section 543 of the Bankruptcy Code
directs a person in possession of any property belonging to a
debtor to deliver that property to the trustee or
debtor-in-possession and the Debtor asserts that turnover of the
rents is thereby appropriate.

Park Fletcher Realty, LLC filed a Chapter 11 bankruptcy petition
(Bank. S.D. Ind. Case No. 15-00843) on Feb. 15, 2015.  The petition
was signed by Shawn Williams as managing member.  KC Cohen, Esq.,
at KC Cohen, Lawyer, PC, serves as the Debtor's counsel.  The
Debtors estimated assets and liabilities of $10 million to $50
million.  Judge Jeffrey J. Graham presides over the case.


PARLIAMENT HOUSE: Exits Chapter 11 Bankruptcy Protection
--------------------------------------------------------
Billy Manes at Orlando Weekly reports that Parliament House has
emerged from Chapter 11 bankruptcy protection.

According to Orlando Weekly, the Company is spending $1 million on
revamps for currently existing rooms, and is reportedly spending
$10 million on a new development.  The report says that a country
club for gays is also in the works.

Orlando, Florida-based Parliament Partners, Inc., dba Parliament
House, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 14-08503) on July 25, 2014.  The
Debtor's counsel is R Scott Shuker, Esq., at Latham, Shuker, Eden
& Beaudine LLP, Orlando, Florida.



PERFETTI TRUCKING: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Perfetti Trucking, Inc.
        186 Perfetti Lane
        Blairsville, PA 15717-7686

Case No.: 15-70120

Chapter 11 Petition Date: February 24, 2015

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

Judge: Hon. Jeffery A. Deller

Debtor's Counsel: Kevin J. Petak, Esq.
                  SPENCE CUSTER SAYLOR WOLFE & ROSE, LLC
                  P.O. Box 280
                  Johnstown, PA 15907-0280
                  Tel: 814-536-0735
                  Fax: 814-539-1423
                  Email: kpetak@spencecuster.com

Total Assets: $2.06 million

Total Liabilities: $1.96 million

The petition was signed by John A. Perfetti, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb15-70120.pdf


PREMIER GOLF: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Premier Golf Properties, LP
        3121 Willow Glen Drive
        El Cajon, CA 92019

Case No.: 15-01068

Type of Business: Golf Course

Chapter 11 Petition Date: February 24, 2015

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Hon. Christopher B. Latham

Debtor's Counsel: Jack Fitzmaurice, Esq.
                  FITZMAURICE & DEMERGIAN
                  1061 Tierra del Rey, Suite 204
                  Chula Vista, CA 91910
                  Tel: (619) 591-1000
                  Fax: (619) 591-1010
                  Email: lalmaraz@fitzmauricelaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Daryl Idler, secretary, Premier Golf
Property Management Inc, general partner.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Patrick O'Connor                                        $71,500
5464 Grossmont Center Drive
La Mesa CA 91942

SDG&E                                                   $46,767
PO Box 25111
Santa Ana CA 92799

Tina Brewer                                             $40,880
c/o Mark T Brisebois
2488 Historic Decatur Road Ste 200
San Diego CA 92106

Yamaha                                                  $39,500
c/o Armen Hairapetian
70 S Lake Avenue Ste 820
Pasadena CA 91101

Preferred Employers Insurance Co                        $11,194
File Number 55624
Los Angeles CA 90074

Barrett Pump                                             $8,255
1695 National Avenue
San Diego CA 92113

Cart Mart Inc                                            $6,544
237 South Bent Ave
San Marcos CA 92078

Turf Maker                                               $5,083
651 Anita St
Chula Vista CA 91911

US Trustee                                               $4,875
402 W Broadway Suite 600
San Diego CA 92101

Otay Water District                                      $4,565
PO Box 51375
Los Angeles CA 90051

California Choice                                        $3,543
PO Box 7088
Orange CA 92863

State Board of Equalization                              $2,949
San Diego District Office
15015 Avenue of Science #200
San Diego CA 92128

Golf Carts & More                                        $2,851
1145 Industrial Ave Ste D
Escondido CA 92029

Helix Mechanical                                         $2,652
1100 N. Magnolia Ave Suite L
El Cajon CA 92020

SKS Petroleum Distributors                               $2,607
PO Box 46110
Escondido CA 92046

Crest Beverage LLC                                       $2,081
PO Box 848536
Los Angeles CA 90084

Republic Master Chefs                                    $1,640
PO Box 15267
Los Angeles CA 90015

SCGA                                                     $1,551
PO Box 7186
North Hollywood CA 91615

Cox Communications San Diego                             $1,277
PO Box 53214
Phoenix AZ 85072

US Foodservice                                           $1,247
PO Box 100131
Pasadena CA 91189


PULSE ELECTRONICS: To Restart Submission of Periodic Reports
------------------------------------------------------------
Pulse Electronics Corporation has withdrawn its Form 15 filings
with the Securities and Exchange Commission on Oct. 16, 2014, and
Dec. 29, 2014, stating it will recommence its submission of
required filings under the Securities Exchange Act of 1934.

                      About Pulse Electronics

San Diego, California-based Pulse Electronics Corporation --
http://www.pulseelectronics.com/-- is a global producer of
precision-engineered electronic components and modules, operating
in three business segments: Network product group; Power product
group; and Wireless product group.

As reported by the TCR on July 8, 2013, the Company dismissed
KPMG LLP as its independent registered public accounting
firm.  Grant Thornton LLP was hired as replacement.

Pulse Electronics reported a net loss of $27.02 million on
$356 million of net sales for the year ended Dec. 27, 2013, as
compared with a net loss of $32.09 million on $373 million of net
sales for the year ended Dec. 28, 2012.

The Company's balance sheet at Sept. 26, 2014, showed $179 million
in total assets, $250 million in total liabilities, and a
$71.5 million shareholders' deficit.


QUALITY TEAM MANAGEMENT: Case Summary & 11 Top Unsec. Creditors
---------------------------------------------------------------
Debtor: Quality Team Management, Inc.
           dba Riverside Hotels, LLC
        4430 Stratford Drive
        Middletown, OH 45042

Case No.: 15-30453

Chapter 11 Petition Date: February 24, 2015

Court: United States Bankruptcy Court
       Southern District of Ohio (Dayton)

Judge: Hon. Guy R Humphrey

Debtor's Counsel: John Paul Rieser, Esq.
                  RIESER & MARX LLC
                  7925 Graceland Street
                  Dayton, OH 45459
                  Tel: (937) 224-4128
                  Email: attyecfdesk@riesermarx.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Nayeem Aziz, president/owner.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ohsb15-30453.pdf


RADIOSHACK CORP: Cerberus Fights CDS Cash-Out Claims in Ch. 11
--------------------------------------------------------------
Law360 reported that Cerberus Capital Management LP, which holds
$100 million in secured RadioShack Corp. debt, fought allegations
in Delaware bankruptcy court that it breached its fiduciary duty to
the company, saying it never purchased the swaps positions it
allegedly cashed in on after the bankruptcy.

According to the report, calling those accusations "patently
false," Cerberus responded to claims by the unsecured creditors
committee that it hindered the retailer's attempted turnaround to
profit off of advantageous credit default swap positions on its
debt.

Law360 related that unsecured creditors have asked the Delaware
court to investigate who benefited from and controlled the timing
of RadioShack's bankruptcy, claiming that the sale of credit
agreement loans in October to major shareholder Standard General
and to Litespeed Management LLC was a breach of fiduciary duty.
Additionally, the committee alleged that Cerberus and Salus Capital
Partners LLC, a separate lender with whom Cerberus shared a $250
million term loan for RadioShack, held credit default swap
positions on the retailer's debt.

Cerberus is represented by Adam C. Harris, David M. Hillman, Taejin
Kim and Brian C. Tong of Schulte Roth & Zabel LLP, and Adam G.
Landis and Kerri K. Mumford of Landis Rath & Cobb LLP.

The unsecured creditors committee is represented by Richard S.
Kanowitz, Esq. -- rkanowitz@cooley.com -- Jay R. Indyke, Esq. --
jindyke@cooley.com -- Cathy Hershcopf, Esq. --
chershcopf@cooley.com -- Jeffrey L. Cohen, Esq. --
jcohen@cooley.com -- and Seth Van Aalten, Esq. --
svanaalten@cooley.com -- of Cooley LLP and other counsel.

               About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile  
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

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

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

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

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

The U.S. Trustee has appointed seven members to the Official
Committee of Unsecured Creditors.


RADIOSHACK CORP: Litespeed Reports 8.8% Stake as of Dec. 31
-----------------------------------------------------------
Litespeed Management, L.L.C., Litespeed Master Fund, Ltd., and
Jamie Zimmerman disclosed in a Schedule 13G filing with the
Securities and Exchange Commission that as of December 31, 2014,
they may be deemed to beneficially own 8,875,000 shares -- or
roughly 8.8% -- of the common stock of RadioShack Corp.

A copy of Litespeed's filing is available at http://is.gd/jMt4Z2

               About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

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

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

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

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

The U.S. Trustee has appointed seven members to the Official
Committee of Unsecured Creditors.


RADIOSHACK CORP: Urges Fast Sales for 'Melting Ice Cube' of Assets
------------------------------------------------------------------
Dawn McCarty, writing for Bloomberg News, reported that RadioShack
Corp. pushed back against the Official Committee of Unsecured
Creditors' criticisms of its proposed auction procedures, saying a
drawn-out sales process could diminish the value of the assets and
hurt recoveries.

The Troubled Company Reporter previously reported that the
Creditors' Committee opposed Standard General LP's credit bid for
some of the retailer's stores and asserted that the lender should
instead buy the stores using cash.  According to the Bloomberg
report, the Committee said credit bidding will "potentially freeze"
out competition and complained that the $3,000-a-store price is
inadequate for assets not covered by Standard General's lien
because RadioShack is asking for a minimum of $20,000 for each
lease not being bought in the going-concern transaction.

In its response, RadioShack told the court that "[a]lthough the
committee closes its eyes to it, the debtors' estate is in fact a
'melting ice cube' that is losing value on a daily basis."
Standard General also jumped to defend the auction procedures,
calling the creditor criticisms a "litany of innuendo and
irrelevant detail."

The Bloomberg report said that to address an objection by the U.S.
Trustee, the Justice Department's bankruptcy watchdog, RadioShack
amended the proposed bidding procedures to include the appointment
of a privacy ombudsman to protect customers' personal information.

Law360 reported that landlords took issue with RadioShack's plan to
auction thousands of stores to Standard General, saying that the
proposed process omits key details about the treatment of their
leases.  Various groups lodged objections in Delaware bankruptcy
court, arguing that the bidding procedures laid out for the
stalking horse auction do not require RadioShack to identify the
actual assignee of leases involved in the deal and do not give
landlords information about adequate assurance information prior to
the sale hearing.

               About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile  
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

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

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

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

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

The U.S. Trustee has appointed seven members to the Official
Committee of Unsecured Creditors.


RADIOSHACK CORP: Vanguard Reports 2.97% Stake
---------------------------------------------
The Vanguard Group - 23-1945930 disclosed in a Schedule 13G filing
with the Securities and Exchange Commission that as of December 31,
2014, it may be deemed to beneficially own 2,992,275 or roughly
2.97% of the common stock of RadioShack Corp.  A copy of the filing
is available at http://is.gd/1guIGd

               About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

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

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

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

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

The U.S. Trustee has appointed seven members to the Official
Committee of Unsecured Creditors.


RADIOSHACK CORP: Wants Sale to Standard General Moved to March 26
-----------------------------------------------------------------
RadioShack Corp. has asked the Hon. Brendan Shannon of the U.S.
Bankruptcy Court for the District of Delaware that the sale of
stores to Standard General be moved from March 12 to March 26, Tom
Hals at Reuters reports, citing Greg Gordon, the bankrupt Company's
attorney.

Reuters relates that Mr. Gordon said that Standard General had
lessened the number of stores it plans to bid on to a range of
1,700 to 2,050 from its initial proposal for 1,500 to 2,400 as it
continued to review the locations.  Mr. Gordon said the Company's
name and other intellectual property would be auctioned separately
and that Standard General would bid at least $20 million, the
report states.

Mr. Gordon, according to Reuters, said that the Company will slow
the process of selling its surviving stores.  If other bidders
emerge by March 17, an auction will be held on March 23, the report
states, citing Mr. Gordon.  

Creditors were concerned that a rushed sale would discourage other
potential bidders, Reuters relates.  James Covert, writing for New
York Post, says that Standard General LP had called for a
fast-track auction of the Company's most profitable stores -- to be
completed in over a month.  A committee of unsecured creditors
complained that, in addition to beefing about tight bidding
deadlines, the rules for the auction have been stacked unfairly in
favor of Standard General, NY Post states.  The creditors,
according to NY Post, accused Standard General of exploiting its
status as a secured lender to claim store leases in its bid at
prices far below market rates.

GameStop Corp has expressed interest in some of the Company's 1,100
stores that are being closed this month, Reuters reports, citing
Mr. Gordon.

Tom Howley, also an attorney for the Company, said that the
interest from Spring Communications, owned by GameStop, was "a
significant development," Reuters states.

Reuters adds that leases for a third batch of stores to be closed
next month will be auctioned as well.

               About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile  
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

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

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

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

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

The U.S. Trustee has appointed seven members to the Official
Committee of Unsecured Creditors.


RESEARCH NOW: S&P Affirms 'B' CCR; Outlook Stable
-------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Dallas-based digital data collection company
Research Now Group Inc.  The outlook is stable.

At the same time, S&P assigned the company's senior secured
first-lien term loan B and revolving credit facility S&P's 'B'
issue-level rating.  The recovery rating on this debt is '3',
indicating S&P's expectation for meaningful (50% to 70%; high end
of the range) recovery for lenders in the event of a payment
default. Both the $35 million revolving credit facility and $255
million term loan B are due 2021.

S&P also assigned a 'B-' issue rating to Research Now's proposed
$135 million second-lien term loan due 2022 (one notch lower than
S&P's 'B' corporate credit rating on the company).  The recovery
rating on this debt is '5', indicating S&P's expectation of minimal
(10% to 30%; low end of the range) recovery for lenders in the
event of a payment default.  Research Now plans to use the
aggregate debt proceeds, along with equity contributed by Court
Square Capital Partners, to finance the acquisition.  S&P will
withdraw the issue-level ratings on Research Now's existing secured
term loan due 2018 once the acquisition is completed, which S&P
expects will occur in the first quarter of 2015.

"The 'B' corporate credit rating reflects our expectation for
limited debt leverage reduction over the next few years due to
modest discretionary cash flow and an aggressive financial policy,"
said Standard & Poor's credit analyst Elton Cerda.  "We view
Research Now's business risk profile as "weak," primarily because
of its niche market focus and limited scope of operation, and
vulnerability to fluctuations in marketing budgets.  These factors
are only slightly tempered by Research Now's good market position
in its niche, strong panel retention rate, and high survey response
rate.  The company's high adjusted debt leverage, pro forma for the
transaction we estimate it was 6.1x (as of
Dec. 31, 2014), and private equity ownership underpin our
assessment of a "highly leveraged" financial risk profile.  We
expect Research Now to grow revenues at a mid- to high-single-digit
percentage rate with a healthy high-teens EBITDA margin.  We
believe that the company will use its free cash flow for bolt-on
acquisitions, and to a lesser extent, debt repayment," S&P said.

Research Now is a small-to-midsize provider of permission-based
digital data collection services to market research agencies,
management consulting, media agencies and corporations focused on
conducting online research for clients who required servey access
to business-to-business, business-to-consumer, and hard-to-reach
audiences.  S&P characterizes Research Now's business risk profile
as "weak," reflecting the company's narrow market focus,
participation in a highly fragmented industry, exposure to
fluctuations in advertising spending and technology risk, and
relatively low barriers to entry.  The amount of survey conducted
in any given year completely depends on customer's demand which is
tied to marketing budgets and new product development, which
fluctuate with the economy.  Nevertheless, the company holds a
leading global market share in its niche, with its diverse customer
base, high panelist retention rates, and exclusive relationships
with sponsors.

The stable outlook reflects S&P's expectation that the company will
continue to grow revenue and EBITDA and that leverage will be
around the high-5x area.  S&P views a downgrade more likely than an
upgrade over the intermediate term.

S&P could lower the rating if revenue and EBITDA begin to decline
as a result of a deteriorating operating performance that,
potentially accompanied by economic weakness, convince S&P that
covenant headroom will contract to about 15% or discretionary cash
flow will swing negative.  This could also occur as a result of
additional shareholder-favoring actions.

Conversely, S&P could raise the rating over the intermediate term
if it concludes that the company will be able to broaden its
business base, maintain its leverage in the mid-4x area, and
demonstrate a commitment to a less-aggressive financial policy.
Based on its private equity ownership, it is more than likely that
the company will pursue further shareholder-favoring actions such
as a debt-financed special dividend.



RESIDENTIAL CAPITAL: Defective Mortgage Suits Mostly Survives
-------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the trust created for creditors of Residential
Capital LLC can keep pursuing most lawsuits pending in New York
against banks that sold it allegedly defective home mortgages.

According to the report, U.S. Bankruptcy Judge Martin Glenn in New
York, in early February, decided seven cases allowing the suits to
proceed to the extent they are based on mortgages sold after May
14, 2006.  Aside from claims deemed too old, Judge Glenn upheld the
trust's suits, at least for the time being, the report related.

One of the suits in bankruptcy court is Residential Funding Co. LLC
v. HSBC Mortgage Corp. (USA) (In re ResCap Liquidating Trust
Mortgage Purchase Litigation), 14-ap-07900, U.S. Bankruptcy Court,
Southern District of New York (Manhattan).

The suit in New York is ResCap Liquidating Trust v. PHH Mortgage
Corp., 14-cv-05315, U.S. District Court, Southern District of New
York (Manhattan).

A Minnesota lawsuit is Residential Funding Co. LLC v. Mortgage
Outlet Inc., 13-3447, U.S. District Court, District of Minnesota
(Minneapolis).

                   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.


RESTORGENEX CORP: David Smith Reports 5.5% Stake as of May 12
-------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, David E. Smith disclosed that as of May 12, 2014, he
beneficially owned 1,035,000 shares of common stock of Restorgenex
Corporation, which represents 5.5 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/KSLC5j

                          About RestorGenex

RestorGenex Corporation operates as a biopharmaceutical company.
It focuses on dermatology, ocular disease, and women's health
areas.  The company was formerly known as Stratus Media Group,
Inc., and changed its name to RestorGenex Corporation in March
2014.  RestorGenex Corporation is based in Los Angeles,
California.

Restorgenex reported a net loss of $2.45 million in 2013 following
a net loss of $6.85 million in 2012.  For the nine months ended
Sept. 30, 2014, the Company reported a net loss of $9.28 million.

The Company's balance sheet at Sept. 30, 2014, showed $50.5 million
in total assets, $7.74 million in total liabilities and $42.8
million in total stockholders' equity.

Goldman Kurland and Mohidin LLP, in Encino, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that RestorGenex Corporation has suffered recurring
losses and has negative cash flow from operations.  These
conditions, the auditors said, raise substantial doubt as to the
ability of RestorGenex Corporation to continue as a going concern.



RIVIERA HOLDINGS: Issued Non-Voting Shares to Warrant Holders
-------------------------------------------------------------
Riviera Holdings Corporation disclosed in a regulatory filing with
the Securities and Exchange Commission that:

     -- on Feb. 12, 2015, three holders of the Company's warrants
exercisable into the the Company's Class B Non-Voting Common Stock
exercised their Class B Warrants in full at the total stated
aggregate exercise price of $0.03 and the Company issued to the
holders an aggregate of 71,291 shares of Class B Non-Voting Common
Stock as a result; and

     -- on Feb. 13, 2015, one holder of the Company's Class B
Warrants exercised its Class B Warrant at the stated aggregate
exercise price of $0.01 and the Company issued to the holder 43,150
shares of Class B Non-Voting Common Stock as a result.

"The issuances of the Class B Non-Voting Common Stock were exempt
from registration under the Securities Act of 1933, as amended,
because (i) the Class B Warrants were originally issued under
Section 1145 of the United States Bankruptcy Code, which generally
exempts from such registration requirements the issuance of
securities underlying warrants issued under a plan of
reorganization, and (ii) Section 4(a)(2) of the Securities Act
because the issuance did not involve any public offering in that we
issued the shares of Class B Non-Voting Common Stock to existing
holders of our Class B Warrants, who are also creditors, and we
placed a legend on the stock certificates stating that the
securities have not been registered under the Securities Act and
cannot be sold or otherwise transferred without registration or an
exemption therefrom," the Company said.

                      About Riviera Holdings

Riviera Holdings Corporation, through its wholly owned subsidiary,
Riviera Operating Corporation, owns and operates the Riviera Hotel
& Casino located on Las Vegas Boulevard in Las Vegas, Nevada.
Riviera Hotel & Casino, which opened in 1955, has a long-standing
reputation for delivering traditional Las Vegas-style gaming,
entertainment and other amenities.

On July 12, 2010, RHC, ROC and the Riviera Black Hawk casino filed
petitions for relief under the provisions of Chapter 11 of the
United States Bankruptcy Code with the United States Bankruptcy
Court for the District of Nevada.  On Nov. 17, 2010, the
Bankruptcy Court entered a written order confirming the Debtors'
Second Amended Joint Plan of Reorganization. On December 1, 2010,
the Plan became effective.  On April 1, 2011, the Debtors emerged
from reorganization proceedings under the Bankruptcy Code.

Thomas H. Fell, Esq., at Gordon Silver, represented the Debtors in
the Chapter 11 cases.  XRoads Solutions Group, LLC, served as the
financial and restructuring advisor.  Garden City Group Inc.
served as the claims and notice agent.

On April 26, 2012, RHC completed the sale of Riviera Black Hawk
casino to Monarch Casino and Resorts, Inc., and its wholly-owned
subsidiary Monarch Growth Inc.  The Buyer purchased Riviera Black
Hawk by acquiring all of the issued and outstanding shares of
common stock of RHC's subsidiary Riviera Black Hawk.  The Buyer
paid $76 million for the stock, subject to certain post-closing
working capital adjustments.  At the closing, ROC paid or
satisfied substantially all of RBH's indebtedness (which consisted
of inter-company accounts and equipment leases) and placed $2.1
million of working capital in a restricted bank account.
Accordingly, the Company has reflected the business, including
gain on sale, as discontinued operations.

In July 2013, Moody's Investors Service downgraded Riviera
Holdings' ratings, including its Corporate Family Rating to
'Caa3' from 'Caa2' and its Probability of Default Rating to
'Caa3-PD'
from 'Caa2-PD'.  At the same time, Moody's downgraded Riviera's
first
lien term loan and revolver to 'Caa2' from 'Caa1', its second lien
term loan to 'Ca' from 'Caa3' and its Speculative Grade Liquidity
rating to 'SGL-4' from 'SGL-3'.  The rating outlook is negative.

The downgrade reflected Moody's view that Riviera's capital
structure is unsustainable given growing operating losses and its
inability to cover debt service and capex needs given limited
available cash balances.  Moody's at that time said that, although
the company continues to pay required interest on time, it remains
in technical default of financial covenants.


RIVIERA HOLDINGS: S&P Discontinues 'CCC+' CCR Over Casino Sale
--------------------------------------------------------------
Standard & Poor's Ratings Services discontinued its 'CCC+'
corporate credit rating on Riviera Holdings Corp. following the
sale of the Riviera Hotel & Casino in Las Vegas to the Las Vegas
Convention & Visitors Authority and the repayment of all of
Riviera's previously outstanding debt.

RATINGS LIST

Ratings Discontinued

Riviera Holdings Corp.
                             To       From
Corporate Credit Rating     NR       CCC+/Negative/--



RON'S PROPERTIES: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Ron's Properties, LLC
        1800 Clove Road
        Staten Island, NY 10304

Case No.: 15-70725

Chapter 11 Petition Date: February 24, 2015

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Louis A. Scarcella

Debtor's Counsel: Chad B Friedman, Esq.
                  RAVIN GREENBERG, LLC
                  101 Eisenhower Parkway
                  Roseland, NJ 07068
                  Tel: (973) 226-1500
                  Fax: (973) 226-6888
                  Email: cfriedman@ravingreenberg.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ron Israeli, manager.

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


SAINT CATHERINE: To Close Indiana Hospital; Sale Talks Ongoing
--------------------------------------------------------------
Bethanni Williams, writing for Whas11.com, reports that the St.
Catherine Regional Hospital in Charlestown, Indiana, is set for
closure.  

Gary Popp at Newsandtribune.com relates that talks are ongoing
about a possible purchase of the hospital.  

Newsandtribune.com says that liquidation remains a strong
possibility after the hospital closed its emergency room last week,
transferred virtually all of its inpatients to other area
facilities and informed the majority of staff to not return to
work.  The report quoted Lyen Crews, the Chapter 11 trustee and
acting CEO of the hospital, as saying, "There may be other
[bidders] in the mix, so I, really, can't comment as to what will
happen.  We are listening to anybody that has a bid.  We are
entertaining the bid, and we are discussing it with them.  I will
exhaust every opportunity."

According to Newsandtribune.com, a bid from Procure Heath had been
accepted to purchase the hospital, but the agreement fell through
last week.

Mr. Crews, Newsandtribune.com reports, said that other firms are
interested in  the hospital, but he is not sure how long he will be
able to entertain bids before going into liquidation.

                 About Saint Catherine Hospitals

Saint Catherine Hospital of Indiana LLC --
http://www.saintcatherinehospital.com/-- an acute-care hospital in

Charlestown, Indiana, filed for Chapter 11 protection June 19 in
New Albany, Indiana (Bankr. S.D. Ind. Case No. 12-91316).  Saint
Catherine Hospital of Indiana is a regional facility that performs
weight-loss surgery and other procedures.  The Debtor estimated
assets worth less than $10 million and debt exceeding $10 million.

A buyer has been located to purchase the operation while in
Chapter 11, according to a report by Bill Rochelle, the bankruptcy
columnist for Bloomberg News.  Mr. Rochelle also reports that, in
addition to losses from operations, bankruptcy was the result of a
lawsuit begun by the trustee for Saint Catherine Hospital of
Pennsylvania, which filed for bankruptcy reorganization in April
in Wilkes-Barre, Pennsylvania.  The Chapter 11 trustee in the
Pennsylvania hospital's case filed a lawsuit to recover $300,000
allegedly transferred to the Indiana institution.

Saint Catherine Hospital of Pennsylvania, LLC, dba Saint Catherine
Medical Center of Fountain Springs, filed a Chapter 11 petition
(Bankr. M.D. Pa. Case No. 12-02073) on April 9, 2012, estimating
under $50,000 in assets and debts.  It is a non-operating 107-bed
hospital in Ashland, Pennsylvania.  John H. Doran, Esq., at Doran
& Doran, P.C., in Wilkes-Barre, Pennsylvania, served as counsel.

Nine days after the bankruptcy filing, U.S. Bankruptcy Judge John
J. Thomas granted the request of the Chapter 11 trustee to convert
the Chapter 11 case of Saint Catherine Hospital of Pennsylvania to
a liquidation in Chapter 7.


SALADWORKS LLC: Says Vernon Hill Lawsuit Made Finding Buyer Hard
----------------------------------------------------------------
Saladworks, LLC, said in court documents that it was litigation
with a minority shareholder that caused it trouble in finding a
buyer and paying out obligations, leading to the bankruptcy.

Gina Passarella at Delaware Law Weekly reports that Vernon Hill --
the former Commerce Bank founder who controls Saladworks minority
shareholder JVSW LLC -- and the Company are in the midst of
litigation in Pennsylvania over loan obligations.  Paul Steck, the
Company's president, said in court filings that Mr. Hill has also
filed actions against the Company in the Delaware Court of Chancery
over the Company's management and his request to have his shares
bought back for $7.75 million.

Citing the Company, Law Weekly relates that the Delaware and
Pennsylvania litigation have also made it difficult for the Company
to expand through selling more franchises.

Law Weekly recalls that when Mr. Hill sought payment for his
shares, the Company started looking at its strategic options moving
forward.

According to Law Weekly, John G. Harris, Esq., and David B.
Anthony, Esq., at Berger Harris are representing the Company in the
Chancery litigation, while Blake A. Bennett, Esq., and Thomas A.
Uebler, Esq., at Cooch and Taylor are representing JVSW in that
litigation.  

Messrs. Harris and Anthony can be reached at:

      Berger Harris
      1105 North Market Street,
      11th Floor Wilmington, DE 19801
      Tel: (302) 655-1140
      Fax:(302) 655-1131
      E-mail: jharris@bergerharris.com
              danthony@bergerharris.com

Messrs. Bennett and Uebler can be reached at:

      Cooch and Taylor
      The Brandywine Building
      1000 West Street, 10th Floor
      P.O. Box 1680
      Wilmington, DE 19899-1680

      Blake A. Bennett, Esq.
      Director
      Tel: (302) 984-3889
      Fax: (302) 984-3939
      E-mail: bbennett@coochtaylor.com

      Thomas A. Uebler, Esq.
      Associate
      Tel: (302) 984-3806
      Fax: (302) 984-3939
      E-mail: tuebler@coochtaylor.com

Law Weekly relates that Kenneth Roeberg, Esq., at Narducci, Moore,
Fleisher & Roeberg is representing the Company in the Metro Bank
litigation in Montgomery County, Pennsylvania, while WS Financial,
the entity owned by Mr. Hill associated with Metro Bank, is
represented by Walter Weir, Jr., Esq., at Weir Partners LLP.

Mr. Roeberg can be reached at:

      Narducci, Moore, Fleisher & Roeberg LLP
      589 Skippack Pike, Suite 300
      Blue Bell, PA 19422
      Tel: (215) 628-3939
      E-mail: kroeberg@bluebelllaw.com

Mr. Weir can be reached at:

      Weir Partners LLP
      The Widener Building
      Suite 500
      1339 Chestnut Street
      Philadelphia, PA 19107
      Tel: (215) 241-7751
      Fax: (215) 665-8191
      E-mail: wweir@weirpartners.com

                  About Saladworks, LLC

Developed in 1986, Saladworks, LLC, is the first and largest
fresh-salad franchise concept in the United States. From its
beginning in the Cherry Hill Mall, Saladworks quickly expanded to
12 additional locations in area malls and soon thereafter began
franchising.  The company has franchise agreements with 162
different franchisees.  The equity owners are J Scar Holdings,
Inc., (70%) and JVSW LLC (30%).

Saladworks, LLC, sought Chapter 11 bankruptcy protection (Bankr.
D. Del. Case No. 15-10327) on Feb. 17, 2015.  The case assigned to
Judge Laurie Selber Silverstein.

The Debtor has tapped Landis Rath & Cobb LLP as counsel; SSG
Advisors, LLC, as investment banker; EisnerAmper LLP, as financial
advisor; and Upshot Services LLC, as claims and noticing agent.

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


SAMUEL WYLY: Plans to Sell Off Art, Antiques
--------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
former billionaire Sam Wyly is preparing to sell dozens of pieces
of art and antiques through a Dallas auction house on May 20.

According to the report, the proposed auction is Mr. Wyly's latest
effort to cut his expenses while facing a $198.1 million judgment,
which came after securities regulators accused him of using a
complex web of offshore trusts to hide stock sales.

                         About Samuel Wyly

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

                        About Caroline Wyly

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


SANDRINE'S LIMITED: Sold for $776,000
-------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Sandrine's Bistro, a French restaurant in
Cambridge, Massachusetts, and its equipment were sold at a
sealed-bid auction for $776,000 to Classic Restaurant Concepts
LLC.

According to the report, the opening bid at the auction was
$480,000 from Pierre Honneger, the owner of Boston's La Voile
restaurant.

Based in Cambridge, Massachusetts, Sandrine's Limited Liability
Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Mass.
Case No. 14-15702) on Dec. 10, 2014, disclosing $35,000 in assets
against $1.37 million in liabilities.  The petition was signed by
Gwyneth B. Trost, manager and the Debtor's majority owner. Judge
William C. Hillman presides over the case. Alex F. Mattera, Esq.,
at Demeo, LLP, serves as the Debtor's bankruptcy counsel.


SANJAC SECURITY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Sanjac Security, Inc.
        P.O. Box 654
        Humble, TX 77347-0654

Case No.: 15-31008

Chapter 11 Petition Date: February 24, 2015

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

Judge: Hon. Jeff Bohm

Debtor's Counsel: Margaret Maxwell McClure, Esq.
                  ATTORNEY AT LAW
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: 713-659-1333
                  Fax: 713-658-0334
                  Email: margaret@mmmcclurelaw.com

Estimated Assets: $1 million to $10 million

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

The petition was signed by Jeffrey Scott Theis, president.

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


SCH CORP: Court Says Payment Extension Counts as Plan Modification
------------------------------------------------------------------
Saranac Hale Spencer at The Legal Intelligencer reports that the
U.S. Court of Appeals for the Third Circuit has agreed that the
proposed extension of the payment period to 2017 in the Chapter 11
bankruptcy of SCH Corp. would count as a modification of the plan.

Plan funder National Corrective Group, according to the Third
Circuit's opinion, written by Senior Judge Robert E. Cowen, agreed
to a settlement under which it would make three additional payments
of up to $100,000 each year until 2017.

According to The Intelligencer, the Third Circuit has vacated for
the second time the Bankruptcy Court's decision in a case involving
the bankruptcy of the Company that is facing consumer class-action
lawsuits.  The U.S. District Court for the District of Delaware had
previously upheld the Bankruptcy Court's opinion, the report adds.

The Intelligencer recalls that the Company was facing class-action
lawsuits in California, Florida, and Indiana brought under the Fair
Debt Collection Practices Act when it filed for bankruptcy.
Members of those class actions, the report says, are the ones who
challenged the proceedings in the Bankruptcy Court, bringing the
case to the Third Circuit.

According to the Opinion, the CFI claimants rejected the first plan
for liquidation since it included a third-party release that would
have barred claims against the Company's buyer, Levine Leichtman
Capital Partners.  The Intelligencer states that the Bankruptcy
Court later approved an amended plan that involved NCG agreeing to
pay $200,000 per year for five years.  The Opinion states that the
payments could be offset by up to a total of $500,000 for the
defense of consumer lawsuits.  The Intelligencer relates that NCG
later used those offset rights.

The Intelligencer quoted Judge Cowen as saying, "Therefore, very
little, if any, funds have been distributed to unsecured creditors
under the confirmed plan.  In particular, it claimed offsets for
litigation expenses reimbursed by insurance."

NCG then agreed to the settlement, but the CFI claimants objected
on a number of grounds, The Intelligencer states, citing Judge
Cowen.  "According to them, 'the proposed three-year extension of
the plan is, in effect, a proposed, post-confirmation request to
modify the plan' that 'would be governed by 11 U.S.C. Section
1127(b), and, by incorporation, 11 U.S.C. Section 1129.'  Noting
that the bankruptcy court must review a proposed settlement under
the four-factor standard established by this court in In re Martin,
the CFI claimants argued that '"the paramount interest of the
creditors" -- the fourth Martin factor -- would not be furthered in
any way by the compromise.'  The CFI claimants also questioned
whether the settlement was the result of arm's-length
negotiations," The Intelligencer quoted Judge Cowen as saying.

According to The Intelligencer, the Third Circuit agreed that the
proposed extension of the payment period to 2017 would count as a
modification of the plan under Section 1127 of Chapter 11.  The
report quoted Judge Cowen as saying, "The confirmed plan required
NCG to make five annual payments, subject to offsets for litigation
expenses, by April 2014, while the purported settlement approved by
the bankruptcy court provided for three additional payments subject
to the same basic offset mechanism in 2015, 2016 and 2017."

                          About SCH Corp.

SCH Corp., American Corrective Counseling Services Inc. and ACCS
Corp. were in the debt collection business in January 2009
when they filed for Chapter 11 bankruptcy in the District of
Delaware.  They filed for bankruptcy on Jan. 19, 2009 (Bankr. D.
Del. Case No. 09-10198).  The Debtors obtained confirmation of an
amended Chapter 11 plan on Nov. 2, 2009, which plan was declared
effective on Dec. 21, 2009.


SIGA TECHNOLOGIES: Jet Capital Reports 9.14% Stake
--------------------------------------------------
Jet Capital Investors, L.P. and its general partner, Jet Capital
Management, L.L.C., said in a Schedule 13G/A (Amendment No. 1)
filed with the Securities and Exchange Commission that they may be
deemed to beneficially own 4,888,484 shares or roughly 9.14% of the
common stock of SIGA Technologies, Inc.  A copy of the filing is
available at http://is.gd/WUdY0N

                     About SIGA Technologies

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

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

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

The Debtor's Chapter 11 plan and disclosure statement are due
May 14, 2015.

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

The Statutory Creditors' Committee is represented by Martin J.
Bienenstock, Esq., Scott K. Rutsky, Esq., and Ehud Barak, Esq., at
PROSKAUER ROSE LLP.  The Committee tapped to retain Guggenheim
Securities, LLC, as its financial advisor and investment banker.


SIGA TECHNOLOGIES: Prescott Group Reports 5.5% Stake
----------------------------------------------------
Prescott Group Capital Management, L.L.C. and its affiliated
entities said in a Schedule 13G filed with the Securities and
Exchange Commission that they may be deemed to beneficially own
2,948,849 shares or roughly 5.5% of the common stock of SIGA
Technologies, Inc.  A copy of the filing is available at
http://is.gd/FxVm39

The filing entities are Prescott Group Capital Management, L.L.C.;
Prescott Group Aggressive Small Cap, L.P.; Prescott Group
Aggressive Small Cap II, L.P.; and Mr. Phil Frohlich.  They may be
reached at:

     Phil Frohlich
     PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
     1924 South Utica, Suite 1120
     Tulsa, OK 74104-6529

Prescott Capital is an Oklahoma limited liability company. The
Small Cap Funds are Oklahoma limited partnerships. Mr. Phil
Frohlich is the principal of Prescott Capital and is a U.S.
citizen.

                     About SIGA Technologies

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

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

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

The Debtor's Chapter 11 plan and disclosure statement are due
May 14, 2015.

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

The Statutory Creditors' Committee is represented by Martin J.
Bienenstock, Esq., Scott K. Rutsky, Esq., and Ehud Barak, Esq., at
PROSKAUER ROSE LLP.  The Committee tapped to retain Guggenheim
Securities, LLC, as its financial advisor and investment banker.


SILICON GENESIS: Lists $16.5-Mil. in Assets, $7.9-Mil. in Debt
--------------------------------------------------------------
Silicon Genesis Corporation filed with the U.S. Bankruptcy Court
for the Northern District of California its schedules of assets and
liabilities disclosing that it has $16,559,802 in assets and
$7,951,043 in liabilities.

The Debtor's liabilities are composed of $7,688,182 in secured
claims, $186 in unsecured priority claims, and $262,675 in
unsecured non-priority claims.

Full-text copies of the Schedules are available at
http://bankrupt.com/misc/SILICONsal0218.pdf

Silicon Genesis Corporation filed a Chapter 11 bankruptcy petition
(N.D. Calif. Case No. 15-50525) on Feb. 17, 2015.  Theodore E. Fong
signed the petition as president and CEO.  The Debtor estimated
assets of $10 million to $50 million and liabilities of $1 million
to $10 million.  Kevin W. Coleman, Esq., Schnader Harrison Segal
and Lewis LLP represents the Debtor as counsel.  Judge Elaine
Hammond is assigned to the case.


SILICON GENESIS: Seeks Authority to Use Cash Collateral
-------------------------------------------------------
Silicon Genesis Corporation seeks authority from the U.S.
Bankruptcy Court for the Northern District of California, San Jose
Division, to use $244,146 in cash collateral on a preliminary basis
through March 31, 2015.

Kevin W. Coleman, Esq., at Schnader Harrison Segal & Lewis LLP, in
San Francisco, California, the Debtor is required to pay various
ongoing expenses in the ordinary course of business to preserve and
enhance the value of its assets for the benefit of creditors and
other stakeholders.  Firsthand Technology Value Fund, Inc., Convexa
Capital VIII AS, Convexa Capital IX AS, and PV Capital AS, is the
only creditor known by the Debtor to have an interest in cash
collateral, and it is substantially over-secured, Mr. Coleman tells
the Court.

Specifically, as of the Petition Date, the Lender is owed
approximately $7.7 million, and the payment intangibles,
intellectual property, accounts receivable, and equipment that
purportedly secure its claim are worth more than $15.8 million, Mr.
Coleman says.

The Debtor must use cash collateral to satisfy its immediate
obligations as access to these funds is a necessary precondition to
the success of the Debtor's bankruptcy case and the proper
administration of the Debtor's assets, Mr. Coleman further assets.

Silicon Genesis Corporation filed a Chapter 11 bankruptcy petition
(N.D. Calif. Case No. 15-50525) on Feb. 17, 2015.  Theodore E. Fong
signed the petition as president and CEO.  The Debtor estimated
assets of $10 million to $50 million and liabilities of $1 million
to $10 million.  Kevin W. Coleman, Esq., Schnader Harrison Segal
and Lewis LLP represents the Debtor as counsel.  Judge Elaine
Hammond is assigned to the case.


SPENDSMART NETWORKS: Turns Profit in January
--------------------------------------------
SpendSmart Networks, Inc., achieved its first profitable month in
January 2015.

Based on unaudited preliminary financials, and excluding non-cash
expenses such as stock based compensation and depreciation, January
2015 is the first profitable month for the company in recent
history.

"This is another great milestone as we leverage our amazing team,
board of directors, licensees and merchants to build a world-class
organization.  Our year-over-year revenue growth for January is
almost 900%.  We achieved this while expanding our team
significantly to almost 50 people in San Luis Obispo, and getting
our fiscal house in order.  Closing the card business to focus on
our core competency has placed the company in a more strategic
stance for the future.  Investing in our mobile division and making
a strategic acquisition last year of TechXpress were aggressive
moves that are already paying off," explains Alex Minicucci, CEO of
SpendSmart.

Last year SpendSmart grew from approximately 55 Masterminds
licensees to 170 by year-end, and from 1.4M customers to 3M at
year-end.  On Jan 5, 2015, a second software license, referred to
as the "THRIVE license" was launched using resources from the
TechXpress acquisition.  As of Feb 18th, SpendSmart has 58 "THRIVE"
licensees.

Minicucci continues, "We are excited by the results of the THRIVE
license launch; it's a much needed solution for merchants and a
strategic asset for our licensees.  Coming in April we will be
launching Off Day Trainer, our first niche product designed for the
fitness industry.  By leveraging our licensee network we deploy
rapidly in markets across the country, creating new recurring
revenue streams for ourselves and our licensees."

                     About SpendSmart Networks

SpendSmart Networks, Inc., provides proprietary loyalty systems
and a suite of digital engagement and marketing services that help
local merchants build relationships with consumers and drive
revenues.  These services are implemented and supported by a vast
network of certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing, mobile commerce
and financial tools, such as prepaid card and reward systems.  We
enter into licensing agreements for our proprietary loyalty
marketing solution with "Certified Masterminds" which sell and
support the technology in their respective markets.  The Company's
products aim to make Consumers' dollars go further when they spend
it with merchants in the SpendSmart network of merchants, as they
receive exclusive deals, earn rewards and ultimately build a
connection with their favorite merchants.

For the 12 months ended Sept. 30, 2013, the Company reported a net
loss and comprehensive loss of $12.6 million on $1.02 million of
revenues compared with a net loss and comprehensive loss of $21.09
million on $1 million of revenues for the same period in 2012.

As of Sept. 30, 2014, the Company had $12.02 million in total
assets, $1.92 million in total liabilities and $10.1 million in
total stockholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, 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 incurred net losses since inception and has an
accumulated deficit at Dec. 31, 2013.  These factors among others
raise substantial doubt about the ability of the Company to
continue as a going concern.


STAG INDUSTRIAL: Fitch Rates $139MM Preferred Stock 'BB'
--------------------------------------------------------
Fitch Ratings has assigned a 'BBB-' rating to STAG Industrial
Operating Partnership, L.P.'s $120 million unsecured notes issued
through a private placement on Feb. 20, 2015.  The notes comprise
$100 million of 10-year notes bearing interest at 4.32% and $20
million of 12-year notes bearing interest at 4.42%.  This issuance
completes the $200 million note purchase agreement that STAG
announced on Nov. 24, 2014.  The Rating Outlook is Positive.

STAG has earmarked the proceeds from the private placement to repay
amounts outstanding under its unsecured revolving credit facility
and for general corporate purposes, including the funding of future
acquisitions.

KEY RATING DRIVERS

The ratings reflect STAG's credit strengths, which include low
leverage and strong fixed charge coverage for the rating, excellent
liquidity, a sizable unencumbered asset pool and improving access
to capital, including unsecured private placements and term loans
and common equity via underwritten follow-on common equity
offerings and ATM programs.

These credit positives are balanced by the company's portfolio
concentration in secondary industrial markets and short operating
history as a public company.

The Positive Outlook reflects the upward momentum in STAG's credit
profile, including rapid organizational growth, improving
fixed-charge coverage and enhanced access to unsecured debt capital
- all in the context of leverage sustaining in the low 5.0x range.

STAG has achieved many of the rating sensitivities Fitch has
identified as potentially leading to positive ratings momentum.
However, the Positive Outlook captures pending additional seasoning
in the company's operating portfolio and metrics. Specifically,
Fitch will watch closely for evidence of stabilization in the
company's same-store net operating income (NOI) growth following a
period of unanticipated weakness during most of 2013 and 2014.

Weak Internal Growth

STAG's cash same-store NOI declined by 2.3% during 2014, with the
quarterly cadence including year-over-year decreases of 4.9% in the
first quarter of 2014 (1Q'14), 1.2% in 2Q'14, 0.6% in 3Q'14 and
1.5% in 4Q'14.  The company's annualized same store NOI change has
been negative since 2Q'13.  Positively, STAG retained 71.7% of its
expiring leased square footage in 4Q'14, resulting in an annual
tenant retention rate of 69.7%.

During 2013, STAG attributed its same-store NOI declines to
unusually low tenant retention due to a period of heightened
corporate change and, to a lesser extent, the harsh weather during
the late 2013/early 2014 winter.  The company has cited the
dynamics of its single-tenant acquisition led growth model for its
recent same-store NOI declines, whereby the law of large numbers
pulls STAG's portfolio occupancy rate closer to market (roughly
95%), despite most properties entering the portfolio 100% leased.

Low Leverage

STAG's leverage was 4.9x based on an annualized run rate of STAG's
recurring operating EBITDA for the quarter ending Dec. 31, 2014,
which is strong for the 'BBB-' rating.  This compares with 5.4x on
an annualized basis for the quarter ending Dec. 31, 2013 and 6.3x
for the quarter ending Dec. 31, 2012.  Adjusting 4Q'14 earnings for
the impact of partial period acquisitions would reduce STAG's
leverage to 4.7x.  Fitch's projections anticipate that the company
will sustain leverage of approximately 5.0x during the next three
years on an annualized basis that includes a full-year's impact of
earnings from projected acquisitions.

Improving Capital Access

STAG's issuances of senior unsecured notes in July 2014, December
2014 and February 2015 have been important milestones in the
company's transition to a predominantly unsecured borrowing
strategy, evidencing broader access to unsecured debt capital.  The
company also completed a $600 million refinancing of its unsecured
revolving credit facility and term loans in December 2014.  Prior
to the company's inaugural private unsecured notes placement,
STAG's unsecured borrowings were limited to three bank term loans,
as well as drawdowns under the company's unsecured revolver.
However, Fitch continues to view STAG as a relatively less seasoned
unsecured bond issuer pending further private placement issuance.

Strong Fixed-Charge Coverage

Fitch expects the company's fixed charge coverage to sustain in the
low 3.0x through 2016.  The low interest rate environment and
higher capitalization rates on class B industrial properties in
secondary markets should allow STAG to continue deploying capital
on a strong spread investing basis.  STAG's fixed charge coverage
was 3.4x for the year-ended Dec. 31, 2014 and 3.3x and 2.8x for the
years ending Dec. 31, 2013 and 2012, respectively.

Excellent Liquidity

STAG completed a $600 million refinancing of its unsecured bank
debt in December 2014.  The refinancing reduced the company's cost
of fully committed unsecured bank debt to Libor + 1.41% from Libor
+ 1.66% and increased the weighted average term to 5.9 years from
3.8 years.

STAG also replaced its $200 million unsecured revolving credit
facility with a new $300 million revolver that has a lower cost and
extends the maturity by three years to December 2019 through the
refinancing.

STAG's unencumbered assets, defined as unencumbered NOI (as
calculated in accordance with the company's unsecured loan
agreements) divided by a stressed capitalization rate of 10%,
covered its unsecured debt by 3.0x in 4Q'14, which is strong for
the current ratings.  The company's substantial unencumbered asset
pool is a source of contingent liquidity that enhances STAG's
credit profile.

Straightforward Business Model

STAG has not made investments in ground-up development or
unconsolidated joint venture partnerships.  The absence of these
items helps simplify the company's business model, improve
financial reporting transparency and reduce potential contingent
liquidity claims, which Fitch views positively.

While the company may selectively pursue the acquisition of
completed build-to-suit (BTS) development projects in the future,
Fitch anticipates only a moderate amount of such activity by STAG
on an ongoing basis.  Fitch views the acquisition of completed BTS
projects developed by third parties as less risky than the
traditional ground-up speculative and BTS development undertaken by
some of STAG's industrial REIT peers.

Secondary Market Locations

STAG's strategy centers on the acquisition of individual class B,
single tenant industrial properties (warehouse/distribution and
manufacturing assets) predominantly in secondary markets throughout
the United States by sourcing third party purchases and structured
sale-leasebacks.  Such transactions typically range in price from
$5 million to $50 million and have higher going-in yields, stronger
internal rates of return, and less competition from other buyers.

The company has only minimal exposure to what are traditionally
considered the 'core' U.S. industrial and logistics markets, which
include Chicago, Los Angeles/Inland Empire, Dallas - Fort Worth,
Atlanta and New York/Northern New Jersey.  Fitch views this as a
credit negative given superior liquidity characteristics for
industrial assets in 'core' markets - both in terms of financing
and transactions.

Limited Public Company Track Record

STAG has a limited track record as a public company, having gone
public in 2Q'11.  This track record is balanced by 1) the
homogeneity of industrial properties, 2) management's prior
experience successfully managing STAG's predecessor as a private
company that dates back to 2004 and 3) management's extensive real
estate and capital markets experience.

Preferred Stock Notching

The two-notch differential between STAG's IDR and preferred stock
rating is consistent with Fitch's criteria for a U.S. REIT with an
IDR of 'BBB-'.  These preferred securities are deeply subordinated
and have loss absorption elements that would likely result in poor
recoveries in the event of a corporate default.

Positive Outlook

The Positive Outlook is based on Fitch's expectation for
stabilization and improvement in the company's cash same-store NOI
growth over the rating horizon, coupled with Fitch's expectation
that STAG will maintain leverage and fixed-charge coverage of
approximately 5.0x and 3.0x on a run rate basis, metrics that are
consistent with a 'BBB' IDR.

KEY ASSUMPTIONS

Fitch's base case rating assumptions for STAG include these:

   -- Stabilization and improvement in STAG's tenant retention
      and same-store NOI growth;
   -- Leverage sustaining in the low 5.0x range over the rating
      horizon (approximately one to three years);
   -- Fixed-charge coverage improving to the mid-3.0x range
      through 2016;
   -- Industrial property acquisitions of $400 million in 2015 and

      $500 million in 2016;
   -- STAG funds its near-to-medium term external growth with
      roughly 60% equity and 40% debt financing; and
   -- Dividend growth of 5% per annum.

RATING SENSITIVITIES

These factors may have a positive impact on STAG's ratings:

   -- Stabilization, followed by sustained improvement in STAG's
      tenant retention and same-store NOI growth is Fitch's
      primary consideration for positive ratings momentum;
   -- Continued access to the unsecured bond market;
   -- Leverage calculated on an annualized basis adjusted for
      acquisitions sustaining below 5.5x (leverage was 4.7x as of
      Dec. 31, 2014);
   -- Fixed charge coverage to sustaining above 3.0x (coverage was

      3.4x as of Dec. 31, 2014).

These factors may have a negative impact on the company's ratings
and/or Outlook:

   -- Fitch's expectation for leverage sustaining above 6.5x;
   -- Fixed charge coverage sustaining below 2.0x;
   -- A meaningful increase in the percentage of STAG's encumbered

      assets relative to gross assets.

In addition to the $80 million of unsecured notes, Fitch currently
rates STAG as:

STAG Industrial, Inc.

   -- Issuer Default Rating (IDR) 'BBB-';
   -- $139 million preferred stock 'BB'.

STAG Industrial Operating Partnership, L.P.

   -- IDR 'BBB-';
   -- $300 million senior unsecured revolving credit facility
      'BBB-';
   -- $180 million senior unsecured notes 'BBB-';
   -- $150 million senior unsecured term loans 'BBB-'.



TENET HEALTHCARE: Reports $12 Million Net Income for 2014
---------------------------------------------------------
Tenet Healthcare Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing net
income attributable to the Company's shareholders of $12 million on

$16.6 billion of net operating revenues for the year ended Dec. 31,
2014, compared to a net loss attributable to the Company's
shareholders of $134 million on $11.1 billion of net operating
revenues during the prior year.

As of Dec. 31, 2014, Tenet Healthcare had $18.1 billion in total
assets, $16.9 billion in total liabilities, $401 million in
redeemable non-controlling interest in equity of consolidated
subsidiaries, and $785 million in total equity.

"Another quarter of robust earnings growth across our entire
business capped off Tenet's strongest year in a decade," said
Trevor Fetter, president and chief executive officer.  "Our
strategies to capture incremental market share, combined with an
improving economy and expanded health coverage, generated
admissions growth that was among the highest in the industry.
Conifer also achieved record growth and continues to gain
recognition as a leading provider of revenue cycle management and
value-based care services.  We are well-positioned to continue
driving strong performance in 2015."

Cash and cash equivalents were $193 million at Dec. 31, 2014,
compared to $200 million at Sept. 30, 2014.

A full-text copy of the Form 10-K is available for free at:

                         http://is.gd/Zi40XU

                             About Tenet

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

                             *    *    *

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


TRANS ENERGY: To Present at Enercom's Oil & Services Conference
---------------------------------------------------------------
Trans Energy, Inc., announced that Chairman Steve Lucado will
present Wednesday, Feb. 18, 2015, at EnerCom's The Oil & Services
Conference being held at the Omni Hotel located in San Francisco,
California.  The presentation will begin at 4:00 p.m. Pacific Time
(7:00 p.m. Eastern time) and will be webcast live.

The webcast of the Trans Energy, Inc. presentation can be accessed
at the following internet address:
http://www.oilandgas360.com/tosc-webcast/teng/

Additional information regarding Trans Energy, including maps,
investor presentations, news releases and videos can be found at
the Company's new Web site http://www.transenergyinc.com/  
Trans Energy will regularly update information on the Web site to
provide investors with the most up to date information on the
Company and its operations.

                         About Trans Energy

St. Mary's, West Virginia-based Trans Energy, Inc. (OTC BB: TENG)
-- http://www.transenergyinc.com/-- is an independent energy
company engaged in the acquisition, exploration, development,
exploitation and production of oil and natural gas.  Its
operations are presently focused in the State of West Virginia.

Trans Energy reported a net loss of $17.7 million in 2013
following a net loss of $21.2 million in 2012.

the Company's balance sheet at Sept. 30, 2014, showed
$103.6 million in assets, $130.2 million in total liabilities and a
$26.6 million total stockholders' deficit.


TRAVELPORT WORLDWIDE: Reports $43 Million Net Loss for Q4
---------------------------------------------------------
Travelport Worldwide reported a net loss attributable to the
Company of $43 million on $496 million of net revenue for the three
months ended Dec. 31, 2014, compared to a net loss attributable to
the Company of $50 million on $480 million of net revenue for the
same period in 2013.

For the year ended Dec. 31, 2014, the Company reported net income
attributable to the Company of $86 million on $2.14 billion of net
revenue compared to a net loss attributable to the Company of $206
million on $2.07 billion of net revenue during the prior year.

As of Dec. 31, 2014, Travelport had $2.89 billion in total assets,
$3.23 billion in total liabilities and a $338 million total
deficit.

Gordon Wilson, president and CEO of Travelport, commented:

"These financial results seal a transformational year for
Travelport.  With double-digit growth in Beyond Air and real
innovations in Air, we have been able to substantively improve the
strength of our Travel Commerce Platform.  This is apparent in the
near $90 billion of commerce transacted across the Platform last
year, placing us amongst the global leaders of e-commerce
marketplaces.  With a 7% increase in hospitality segments booked
per 100 airline tickets issued in the fourth quarter, and a nearly
60% increase in revenue from eNett over the same period, we are
starting to see strong and progressive returns on the focused
investments that we have made.  Central to these trends are the
innovations that we bring to our industry, including most recently
our industry-defining Rich Content & Branding merchandising
solution for airlines.  With such investments, a transformed
capital structure and the resolution of two key legacy contracts,
Travelport is well positioned for 2015."

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

                        http://is.gd/mBAlyO

                    About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions
for the global travel and tourism industry.

                           *     *     *

As reported by the TCR on Sept. 8, 2014, Standard & Poor's Ratings
Services raised to 'B-' from 'CCC+' its long-term corporate credit
ratings on U.K.-based travel services provider Travelport
Worldwide Limited and its new wholly owned financing entity,
Travelport Finance (Luxembourg) S.a.r.l. (Travelport Finance).
The outlook is stable.  The rating action follows the completion of
Travelport's debt refinancing, announced on Aug. 4, and reflects
the positive impact this has had on Travelport's credit metrics and
stand-alone credit profile.


TRAVELPORT WORLDWIDE: Travelport Intermediate Reports 10% Stake
---------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Travelport Intermediate Limited, et al., disclosed that
as of Dec. 31, 2014, they beneficially owned 12,504,740 shares of
common stock of Travelport Worldwide Limited, which represents 10.3
percent of the shares outstanding.

Travelport Intermediate Limited is wholly-owned by TDS Investor
(Cayman) L.P.  The general partner of TDS Investor (Cayman) L.P. is
TDS Investor (Cayman) GP Ltd.

Travelport Intermediate Limited directly holds 12,504,740 shares of
Common Stock. Travelport Intermediate Limited is wholly-owned by
TDS Investor (Cayman) L.P. The general partner of TDS Investor
(Cayman) L.P. is TDS Investor (Cayman) GP Ltd.

TDS Investor (Cayman) GP Ltd. is collectively controlled by
Blackstone Capital Partners (Cayman) V L.P., Blackstone Capital
Partners (Cayman) V-A L.P., BCP (Cayman) V-S L.P. and BCP V Co-
Investors (Cayman) L.P., Blackstone Family Investment Partnership
(Cayman) V L.P. and Blackstone Participation Partnership (Cayman) V
L.P..

A copy of the regulatory filing is available at:                  

  
                       http://is.gd/XSyjwC

                    About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions
for the global travel and tourism industry.

For the year ended Dec. 31, 2014, the Company reported net income
attributable to the Company of $86 million on $2.14 billion of net
revenue compared to a net loss attributable to the Company of $206
million on $2.07 billion of net revenue during the prior year.

As of Dec. 31, 2014, Travelport had $2.89 billion in total assets,
$3.23 billion in total liabilities and a $338 million total
deficit.

                           *     *     *

As reported by the TCR on Sept. 8, 2014, Standard & Poor's Ratings
Services raised to 'B-' from 'CCC+' its long-term corporate credit
ratings on U.K.-based travel services provider Travelport
Worldwide Limited and its new wholly owned financing entity,
Travelport Finance (Luxembourg) S.a.r.l. (Travelport Finance).
The outlook is stable.  The rating action follows the completion of
Travelport's debt refinancing, announced on Aug. 4, and reflects
the positive impact this has had on Travelport's credit metrics and
stand-alone credit profile.


US COAL: Court Approves 'Adequate Protection' Payments to Lenders
-----------------------------------------------------------------
U.S. Coal Corp. received court approval for a deal that would allow
the company to pay Dean McAfee Holdings LLC and three other
lenders.

Under the deal, U.S. Coal agreed to pay the lenders $25,000 this
month and another $25,000 in March as "adequate protection" of the
security interests asserted by the lenders on assets owned by the
company's subsidiaries, which include J.A.D. Coal Company Inc., Fox
Knob Coal Co. Inc., and Sandlick Coal Company LLC.  

U.S. Coal acquired ownership of the three companies from the
lenders in 2008, according to court filings.  A copy of the
agreement is available for free at http://is.gd/Fpqex4

                 About U.S. Coal and Licking River

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

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

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

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1) the
Licking River Division that was formed through the acquisition of
LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in January
2007 for $33 million., and (2) the J.A.D. Division that was formed
through the acquisition of JAD and Fox Knob, and Sandlick Coal
Company, LLC and Harlan County Mining, LLC in April
2008 for $41 million.  Both the LRR Division and the JAD Division
are located in the Central Appalachia region of eastern Kentucky.

The LRR Division has approximately 26.3 million tons of surface
reserves under lease.  The JAD Division has 24.4 million tons of
surface reserves, both leased and owned real property.  At present,
U.S. Coal has three surface mines in operation between the LRR
Division and JAD Division.

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

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


WCI COMMUNITIES: Stonehill Capital Reports 25.8% Stake
------------------------------------------------------
Stonehill Capital Management LLC and its affiliated entities said
in a Schedule 13G (Amendment No. 2) filing with the Securities and
Exchange Commission that they may be deemed to beneficially own
6,708,499 shares or roughly 25.8% of the common stock of
homebuilder WCI Communities, Inc.

The Schedule 13G is being filed on behalf of:

     (i) Stonehill Capital Management LLC
    (ii) Stonehill Institutional Partners, L.P.
   (iii) John Motulsky
     (iv) Christopher Wilson
      (v) Wayne Teetsel
     (vi) Thomas Varkey
    (vii) Jonathan Sacks
   (viii) Peter Sisitsky
     (ix) Michael Thoyer
      (x) Michael Stern

The firm may be reached at:

     Stonehill Capital Management LLC
     885 Third Avenue, 30th Floor
     New York, NY 10022

A copy of the filing is available at http://is.gd/mTIij9

                       About WCI Communities

Headquartered in Bonita Springs, Florida, WCI Communities, Inc.
(Pink Sheets: WCIMQ) -- http://www.wcicommunities.com/-- is a   
fully integrated homebuilding and real estate services company
with more than 50 years' experience in the design, construction
and operation of leisure-oriented, amenity rich master-planned
communities.  It has operations in Florida, New York, New Jersey,
Connecticut, Virginia and Maryland.

The Company and 126 of its affiliates filed for Chapter 11
protection on Aug. 4, 2008 (Bankr. D. Del. Lead Case No.
08-11643 through 08-11770).  On July 1, 2009, debtor-affiliates
WCI 2009 Corporation, WCI 2009 Management, LLC and WCI 2009 Asset
Holding, LLC filed separate Chapter 11 petitions (Case Nos. from
09-12269 to 09-12271).

Thomas E. Lauria, Esq., Frank L. Eaton, Esq., and Linda M. Leali,
Esq., at White & Case LLP, in Miami, Florida, represented the
Debtors as counsel.  Eric Michael Sutty, Esq., and Jeffrey M.
Schlerf, Esq., at Fox Rothschild LLP, represented the Debtors as
Delaware counsel.  Lazard Freres & Co. LLC acted as the Debtors'
financial advisor.  Epiq Bankruptcy Solutions LLC served as the
claims and notice agent for the Debtors.  The U.S. Trustee for
Region 3 appointed five creditors to serve on an official
committee of unsecured creditors.  Daniel H. Golden, Esq., Lisa
Beckerman, Esq., and Philip C. Dublin, Esq., at Akin Gump Strauss
Hauer & Feld LLP; and Laura Davis Jones, Esq., Michael R. Seidl,
Esq., and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl &
Jones LLP, represented the committee.  WCI disclosed total assets
of $2,178,179,000 and total debts of $1,915,034,000 when it filed
for Chapter 11.

The Bankruptcy Court on Aug. 26, 2009, confirmed the Second
Amended Joint Chapter 11 Plan of Reorganization for WCI
Communities, Inc. and its affiliates.  The Plan became effective
Sept. 3, 2009.


WET SEAL: Ameriprise, Columbia Management No Longer Hold Stake
--------------------------------------------------------------
Ameriprise Financial, Inc. and Columbia Management Investment
Advisers, LLC said in a Schedule 13G (Amendment No. 1) filed with
the Securities and Exchange Commission that as of Dec. 31, 2014,
they no longer held shares of Wet Seal Inc. common stock.  A copy
of the filing is available at http://is.gd/FxVm39

                        About Wet Seal

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

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.

FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

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

B. Riley, the DIP lender and plan sponsor, is represented by Van C.
Durrer, II, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP.

The United States Trustee for Region 3 has appointed five entities
to the Official Committee of Unsecured Creditors in Wet Seal's
case.


WET SEAL: Committee Wrangles Changes in Purchase Price
------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the Official Committee of Unsecured Creditors
negotiated an increase in the sale price and changes in financing
for the clothing chain’s bankruptcy reorganization.

According to the report, the committee persuaded B. Riley Financial
Inc., the stalking horse bidder, to raise the purchase price to $25
million.  At the committee's behest, Riley dropped a so-called no-
shop provision, opening the way for Wet Seal and the creditors to
solicit competing offers, the report related.

                        About Wet Seal

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

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq.,
and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.

FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

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

B. Riley, the DIP lender and plan sponsor, is represented by Van
C.
Durrer, II, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.


WET SEAL: Hudson Bay Discloses 9.99% Stake as of Dec. 31
--------------------------------------------------------
Hudson Bay Capital Management, L.P. as Investment Manager and
Sander Gerber disclosed in a Schedule 13G filing that as of
December 31, 2014, they may be deemed to beneficially own:

     -- 2,087,090 shares of Common Stock of The Wet Seal, Inc.;

     -- 13,532,609 shares of Common Stock issuable upon
        conversion of senior secured convertible notes of
        Wet Seal;

     -- 8,804,348 shares of Common Stock issuable upon exercise
        of warrants of Wet Seal

The shares represent 9.99% of the total outstanding issued by the
Company.  The reported securities, Hudson said, are subject to a
9.99% blocker.

A copy of Hudson's filing is available at http://is.gd/LnS56a
  
Mr. Gerber serves as the managing member of Hudson Bay Capital GP
LLC, which is the general partner of the Investment Manager.  Mr.
Gerber disclaims beneficial ownership of these securities.

                        About Wet Seal

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

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.

FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

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

B. Riley, the DIP lender and plan sponsor, is represented by Van C.
Durrer, II, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP.

The United States Trustee for Region 3 has appointed five entities
to the Official Committee of Unsecured Creditors in Wet Seal's
case.


WPCS INTERNATIONAL: Settles Debt with Zurich American Insurance
---------------------------------------------------------------
WPCS International Incorporated has entered into a settlement
agreement with Zurich American Insurance Company that management
believes significantly improves the Company's financial condition
and clearly demonstrates that its restructuring plan continues to
be implemented as contemplated.

On Feb. 20, 2015, the Company entered into a Settlement and Mutual
Release Agreement with Zurich which provides for the payment to
Zurich of $650,000 to settle the Company's outstanding balance of
approximately $1,850,000 that had been in default and was
previously due in full on Dec. 31, 2013, under an existing
forbearance agreement with Zurich.  Upon execution of the Zurich
Agreement, the Company paid Zurich $200,000, with the remaining
balance of $450,000 payable in 10 equal monthly installments of
$45,000.

Sebastian Giordano, interim chief executive officer, stated, "We
are extremely pleased to have amicably resolved this issue.  On the
heels of having recently eliminated the $898,000 in secured
convertible debt, the $500,000 secured note, and $735,000 of
unsecured promissory notes, this is yet another positive step
forward.  Debt reduction is a critical component of successfully
executing our restructuring plan and improving the Company's
financial position.  We will continue to aggressively pursue all
viable options to strengthen our balance sheet, while
simultaneously working on improving operations and identifying
growth opportunities."

As part of the Zurich Agreement, Zurich is still entitled to
receive a customer payment in the amount of approximately $324,000
related to the Company's previous Cooper Medical Center of Rowan
University project in Camden, New Jersey, for the Camden County
Improvement Authority, but only if such amount is collected by the
Company.  Moreover, conditioned upon receipt of the full settlement
amount, Zurich has agreed to release all of its entire right, title
and interest in and to the Cooper Project, against which the
Company recently filed an action to recover approximately
$2,400,000 from the CCIA.

               About WPCS International Incorporated

WPCS -- http://www.wpcs.com/-- operates in two business segments
including: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a Bitcoin trading
platform.

As reported by the TCR on Feb. 7, 2014, WPCS appointed Marcum LLP
as its new independent registered public accounting firm.
CohnReznick LLP resigned on Dec. 20, 2013.

WPCS International incurred a net loss attributable to common
shareholders of $11.2 million for the year ended April 30, 2014,
as compared with a net loss attributable to common shareholders of
$6.91 million for the year ended April 30, 2013.  As of Oct. 31,
2014, the Company had $17.7 million in total assets, $17.3
million in total liabilities and $397,000 in total equity.

Marcum LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the
year ended April 30, 2014.  The independent auditing firm
noted that the Company has incurred significant losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


YONKERS INDUSTRIAL: Moody's Cuts 2004 Bonds Rating to 'Ba2'
-----------------------------------------------------------
Moody's Investors Service downgraded to Ba2 from Ba1 Yonkers
Industrial Development Agency's (NY) Multi-Family Housing Revenue
Bonds (Herriot Street Housing, L.P. Project) Series 2004.
$11,860,000 of outstanding debt is affected.

This rating action concludes the review for downgrade initiated on
Jan. 16, 2015 and removes the bonds from review for downgrade.

The rating action is based on the continued deterioration of the
bond program's financial position. Cash flow projections
demonstrate parity insufficiency in 10 years and a revenue
insufficiency prior to final bond maturity due to a mismatch
between the maturity of the credit-enhanced mortgage on July 1,
2035 and final bond maturity on Nov. 1, 2036.  The Ba2 reflects the
possibility for rising interest rates to mitigate the severity of
the revenue insufficiency.

Strengths:

  -- Mortgage is enhanced by a Standby Credit Enhancement
     Instrument by Fannie Mae which is backed by the full faith
     and credit of the US (Aaa stable)

Challenges:

  -- Revenues cease on 7/1/2035 when mortgage matures but final
     bond maturity occurs 16 months later on 11/1/2036.

  -- Asset-to-debt ratio below 100% is projected in 10 years

What Could Change the Rating Up

  -- Not likely.  An infusion of assets that eliminates projected
     parity and revenue insufficiencies.

What Could Change the Rating Down

  -- Expected recovery that is below that indicated by the
     current rating.

The principal methodology used in this rating was US Stand-Alone
Housing Bond Programs Secured by Credit Enhanced Mortgages
published in December 2012.


YRC WORLDWIDE: Incurs $85.8 Million Net Loss in 2014
----------------------------------------------------
YRC Worldwide Inc. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common shareholders of $85.8 million on $5.06
billion of operating revenue for the year ended Dec. 31, 2014,
compared to a net loss attributable to common shareholders of $83.6
million on $4.86 billion of operating revenue in 2013.  The Company
also reported a net loss attributable to common shareholders of
$140.4 million in 2012.

As of Dec. 31, 2014, YRC Wordwide had $1.98 billion in total
assets, $2.45 billion in total liabilities and a $474.3 million
total stockholders' deficit.

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

                       http://is.gd/hjYwTe

                        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 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.


[*] Bankruptcies May Have Bottomed Out at 59,000 in January
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Epiq Systems Inc. reported that the 59,000
cases in January were 9.2 percent fewer than the same month in 2014
although 3 percent more on a daily rate than December.  Those
filings were down 12.2 percent from the year before, although 8
percent higher than in December, on a daily rate, according to the
report.


[*] Second-Lien Financings Began Drying Up in Middle of Last Year
-----------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Fitch Ratings said second-lien financings,
which set a near-record in 2014, are pulling back this year as
investors demand higher interest rates on riskier issuances.

According to the report, last year, investors bought $38.7 billion
of new second-lien debt, slightly less than the record $39.2
billion in 2007.  The 2014 totals are deceptive, however, because
the market peaked in the second quarter and drew back so much that
the fourth quarter accounted for only 14 percent of the year's
issuances, Fitch said in a Feb. 2 report, the report related.


[] Independent Contractors Can Be Fired for Bankruptcy
------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that an independent contractor isn't protected by
Section 525(b) of the Bankruptcy Code, which prohibits a "private
employer" from firing an employee for filing bankruptcy.

According to the report, a person who performed after-hours
cleaning at two bank branches sued the bank after she was fired for
discharging her loans at the bank's branches during her bankruptcy.
U.S. District Judge Donald E. Walter in Monroe, Louisiana,
dismissed the suit, agreeing with four other courts that have
similarly concluded independent contractors aren't covered by
Section 525 because they aren't employees within the meaning of the
statute, the report related.

The case is Williams v. First Tower Loan LLC, 13-03012, U.S.
District Court, Western District Louisiana (Monroe).


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Marck Properties Group LLP
   Bankr. D. Md. Case No. 15-12020
      Chapter 11 Petition filed February 13, 2015
         See http://bankrupt.com/misc/mdb15-12020(1).pdf
             http://bankrupt.com/misc/mdb15-12020(2).pdf
         Filed Pro Se

In re Harry Hampar Diramarian
   Bankr. C.D. Cal. Case No. 15-12368
      Chapter 11 Petition filed February 17, 2015
         represented by: Vakhe Khodzhayan, Esq.
                         KG LAW
                         E-mail: vahe@lawyer.com

In re Rev. Dr. Leroy B. Johnson Foundation, Inc.
   Bankr. S.D. Fla. Case No. 15-12842
      Chapter 11 Petition filed February 17, 2015
         See http://bankrupt.com/misc/flsb15-12842.pdf
         Filed Pro Se

In re ABS Welding, Inc.
   Bankr. S.D. Miss. Case No. 15-50245
      Chapter 11 Petition filed February 17, 2015
         See http://bankrupt.com/misc/mssb15-50245.pdf
         represented by: R. Michael Bolen, Esq.
                         HOOD & BOLEN, PLLC
                         E-mail: rmb@hoodbolen.com

In re Wesley James Wiley
   Bankr. E.D.N.Y. Case No. 15-40597
      Chapter 11 Petition filed February 17, 2015

In re Humberto Vela, Jr.
   Bankr. S.D. Tex. Case No. 15-50016
      Chapter 11 Petition filed February 17, 2015

In re Sean Paul Desilva
   Bankr. M.D. Fla. Case No. 15-01325
      Chapter 11 Petition filed February 17, 2015

In re Scituate Reality LLC
   Bankr. M.D. Fla. Case No. 15-01484
      Chapter 11 Petition filed February 17, 2015
         See http://bankrupt.com/misc/flmb15-01484.pdf
         Filed Pro Se

In re Torchys LLC
   Bankr. M.D. Fla. Case No. 15-01565
      Chapter 11 Petition filed February 18, 2015
         See http://bankrupt.com/misc/flmb15-01565.pdf
         represented by: Jake C. Blanchard, Esq.
                         BLANCHARD LAW, P.A.
                         E-mail: jake@jakeblanchardlaw.com

In re Clint B. Carlson and Patricia A. Carlson
   Bankr. E.D. Mich. Case No. 15-30390
      Chapter 11 Petition filed February 18, 2015

In re Jose Ismael Rivera Otero
   Bankr. D.P.R. Case No. 15-01083
      Chapter 11 Petition filed February 18, 2015

In re Pedro V. Perez Ortiz and Doris Martinez Martin
   Bankr. D.P.R. Case No. 15-01075
      Chapter 11 Petition filed February 18, 2015

In re Lincoln Trust
        dba Social Enterprises, LLC
   Bankr. W.D. Tenn. Case No. 15-21549
      Chapter 11 Petition filed February 18, 2015
         See http://bankrupt.com/misc/tnwb15-21549.pdf
         represented by: John Edward Dunlap, Esq.
                         E-mail: jdunlap00@gmail.com

In re Randy Lyn Levitt
   Bankr. S.D. Tex. Case No. 15-30942
      Chapter 11 Petition filed February 18, 2015

In re Roman Development, LLC
   Bankr. E.D. Va. Case No. 15-30787
      Chapter 11 Petition filed February 18, 2015
         See http://bankrupt.com/misc/vaeb15-30787.pdf
         represented by: Kevin A. Lake, Esq.
                         MCDONALD, SUTTON & DUVAL, PLC
                         E-mail: klake@mcdonaldsutton.com

In re Straightline Drywall & Acoustical, LLC
   Bankr. N.D. Ala. Case No. 15-80443
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/alnb15-80443.pdf
         represented by: S. Mitchell Howie, Esq.
                         E-mail: mitch@huntsvillelaw.info

In re Z Companies Development & Consulting, LLC
   Bankr. D. Ariz. Case No. 15-01604
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/azb15-01604.pdf
         represented by: Hilary L. Barnes, Esq.
                         ALLEN MAGUIRE & BARNES, PLC
                         E-mail: hbarnes@ambazlaw.com

In re Maritza Aviezer
   Bankr. C.D. Cal. Case No. 15-10541
      Chapter 11 Petition filed February 19, 2015
         represented by: M. Jonathan Hayes, Esq.
                         SIMON RESNIK HAYES, LLP
                         E-mail: jhayes@srhlawfirm.com

In re Robert Edward Hayner
   Bankr. N.D. Cal. Case No. 15-50547
      Chapter 11 Petition filed February 19, 2015

In re Patricia A. Masse
   Bankr. S.D. Fla. Case No. 15-13048
      Chapter 11 Petition filed February 19, 2015

In re Yummy Yogurt MUD TN LLC
        dba Orange Leaf Frozen Yogurt
   Bankr. S.D. Ind. Case No. 15-01023
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/insb15-01023.pdf
         represented by: Harley K. Means, Esq.
                         KROGER GARDIS & REGAS, LLP
                         E-mail: hkm@kgrlaw.com

In re RSI Associates, Inc.
   Bankr. D. Minn. Case No. 15-30533
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/mnb15-30533.pdf
         represented by: Lynn J.D. Wartchow, Esq.
                         WARTCHOW LAW OFFICE, LLC
                         E-mail: lynn@wartchowlaw.com

In re Jose Anaya and Beatriz Anaya
   Bankr. D. Nev. Case No. 15-10795
      Chapter 11 Petition filed February 19, 2015

In re Valent & Cook at 57 Street Corp.
        dba C-est Bon Cafe
            57 Napoli Brick Oven Ristorante
   Bankr. S.D.N.Y. Case No. 15-10350
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/nysb15-10350.pdf
         represented by: Douglas J. Pick, Esq.
                         PICK & ZABICKI, LLP
                         E-mail: dpick@picklaw.net

In re Diversified Solutions, LLC
   Bankr. S.D. Ohio Case No. 15-30414
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/ohsb15-30414.pdf
         represented by: John C. A. Juergens, Esq.
                         JUERGENS & JUERGENS
                         E-mail: john@jcajuergenslaw.com

In re Carl Dayton Woodard
   Bankr. N.D. Tex. Case No. 15-40704
      Chapter 11 Petition filed February 19, 2015

In re Big G Express, LLC
   Bankr. S.D. Tex. Case No. 15-30955
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/txsb15-30955.pdf
         represented by: Margaret Maxwell McClure, Esq.
                         LAW OFFICE OF MARGARET M. MCCLURE
                         E-mail: margaret@mmmcclurelaw.com

In re Tejas Water Well, LLC
   Bankr. W.D. Tex. Case No. 15-50459
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/txwb15-50459.pdf
         represented by: David T. Cain, Esq.
                         LAW OFFICE OF DAVID T. CAIN
                         E-mail: caindt@swbell.net

In re South Beach Land Investments, Inc.
   Bankr. M.D. Fla. Case No. 15-00642
      Chapter 11 Petition filed February 17, 2015
         See http://bankrupt.com/misc/flmb15-00642.pdf
         Filed Pro Se
In re Epic Sports Bar & Grille LLC
   Bankr. M.D. Fla. Case No. 15-01385
      Chapter 11 Petition filed February 19, 2015
         See http://bankrupt.com/misc/flmb15-01385.pdf
         Filed Pro Se

In re MRG Management, Inc.
   Bankr. D. Ariz. Case No. 15-01615
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/azb15-01615.pdf
         represented by: Scott D. Gibson, Esq.
                         LAW OFFICE OF SCOTT D. GIBSON, PLLC
                         E-mail: ecf@sdglaw.net

In re Sayeeh Shamtob
   Bankr. C.D. Cal. Case No. 15-10549
      Chapter 11 Petition filed February 20, 2015
         represented by: M. Jonathan Hayes, Esq.
                         SIMON RESNIK HAYES, LLP
                         E-mail: jhayes@srhlawfirm.com

In re Kenneth Leonard Dymmel and Ruth Elizabeth Dymmel
   Bankr. C.D. Cal. Case No. 15-12558
      Chapter 11 Petition filed February 20, 2015
         represented by: Robert M. Aronson, Esq.
                         LAW OFFICE OF ROBERT M ARONSON
                         E-mail: robert@aronsonlawgroup.com

In re M.K. Auto, Inc.
   Bankr. E.D. Cal. Case No. 15-21296
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/caeb15-21296.pdf
         Filed Pro Se

In re Elk Grove Communications Tower, Inc.
   Bankr. E.D. Cal. Case No. 15-21313
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/caeb15-21313.pdf
         Filed Pro Se

In re Antonelli & Sons Fish & Poultry, Inc.
   Bankr. N.D. Cal. Case No. 15-30197
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/canb15-30197.pdf
         represented by: Scott J. Sagaria, Esq.
                         LAW OFFICES OF SCOTT J. SAGARIA
                         E-mail: ECFGotNotices@gmail.com

In re Christina Alfano Bachman
        aka Tina Bachman
   Bankr. S.D. Cal. Case No. 15-00978
      Chapter 11 Petition filed February 20, 2015
         represented by: Craig E. Dwyer, Esq.
                         E-mail: craigedwyer@aol.com

In re Wireless Links, LLC
   Bankr. E.D. La. Case No. 15-10391
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/laeb15-10391.pdf
         represented by: Richard W. Martinez, Esq.
                         RICHARD W. MARTINEZ, APLC
                         E-mail: richard@rwmaplc.com

In re Tim E. Bertagnolli
        aka T. E. Bertagnolli
            Tim Eugene Bertagnolli
            Tim Bertagnolli
   Bankr. D. Nev. Case No. 15-50214
      Chapter 11 Petition filed February 20, 2015
         represented by: Stephen R. Harris, Esq.
                         HARRIS LAW PRACTICE, LLC
                         E-mail: steve@harrislawreno.com

In re Maxwell M. Oaks and Linda C. Oaks
   Bankr. E.D.N.C. Case No. 15-00984
      Chapter 11 Petition filed February 20, 2015

In re Steve Maxwell Elmore and Edith Eason Elmore
   Bankr. E.D.N.C. Case No. 15-00992
      Chapter 11 Petition filed February 20, 2015

In re Butterfliez Services, LLC
   Bankr. S.D. Ohio Case No. 15-50914
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/ohsb15-50914.pdf
         represented by: James E. Nobile, Esq.
                         NOBILE & THOMPSON CO., L.P.A.
                         E-mail: lahennessy@ntlegal.com

In re Tonya Lee Brown
   Bankr. S.D. Ohio Case No. 15-50925
      Chapter 11 Petition filed February 20, 2015

In re Screen Graphix LLC
   Bankr. N.D. Tex. Case No. 15-40718
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/txnb15-40718.pdf
         represented by: Warren V. Norred, Esq.
                         NORRED LAW, PLLC
                         E-mail: wnorred@norredlaw.com

In re Homeland Tech Business Services LLC
        dba PostNet
   Bankr. E.D. Va. Case No. 15-10600
      Chapter 11 Petition filed February 20, 2015
         See http://bankrupt.com/misc/vaeb15-10600.pdf
         represented by: George LeRoy Moran, Esq.
                         MORAN MONFORT, P.L.C.
                         E-mail: glmoran@yahoo.com

In re Jennifer Ruth Krizan-Whalen and Carter Edward Whalen
   Bankr. W.D. Wash. Case No. 15-10981
      Chapter 11 Petition filed February 20, 2015

In re Carlos Sandoval
   Bankr. D. Nev. Case No. 15-10836
      Chapter 11 Petition filed February 21, 2015
         represented by: Gina M. Corena, Esq.
                         LAW OFFICE OF GINA M. CORENA, ESQ.
                         E-mail: gina@lawofficecorena.com

In re Brian Forte
   Bankr. M.D. Fla. Case No. 15-01684
      Chapter 11 Petition filed February 22, 2015
In re Aleksandr Goldshtadt
        aka Alex Gold
   Bankr. C.D. Cal. Case No. 15-12692
      Chapter 11 Petition filed February 23, 2015
         represented by: David B. Golubchik, Esq.
                         LEVENE NEALE BENDER RANKIN & BRILL LLP
                         E-mail: dbg@lnbyb.com

In re Exit 42, LLC
        dba A1 Diner
   Bankr. D. Conn. Case No. 15-30250
      Chapter 11 Petition filed February 23, 2015
         See http://bankrupt.com/misc/ctb15-30250.pdf
         represented by: Peter L. Ressler, Esq.
                         GROOB RESSLER & MULQUEEN
                         E-mail: ressmul@yahoo.com

In re Pavel Savenok
   Bankr. N.D. Ill. Case No. 15-05998
      Chapter 11 Petition filed February 23, 2015

In re Grand Hotels, LLC
   Bankr. S.D. Ind. Case No. 15-01117
      Chapter 11 Petition filed February 23, 2015
         See http://bankrupt.com/misc/insb15-01117.pdf
         represented by: Finis Tatum, IV, Esq.
                         FOLEY & ABBOTT, P.A.
                         E-mail: ftatum@foleyandabbott.com

In re Consolidated Energy Holdings, LLC
   Bankr. W.D. La. Case No. 15-80199
      Chapter 11 Petition filed February 23, 2015
         See http://bankrupt.com/misc/lawb15-80199.pdf
         represented by: William S. Robbins, Esq.
                         STEWART, ROBBINS & BROWN, LLC
                         E-mail: wrobbins@stewartrobbins.com

In re Port Asset Acquisition LLC
   Bankr. W.D. La. Case No. 15-80201
      Chapter 11 Petition filed February 23, 2015
         See http://bankrupt.com/misc/lawb15-80201.pdf
         represented by: William S. Robbins, Esq.
                         STEWART, ROBBINS & BROWN, LLC
                         E-mail: wrobbins@stewartrobbins.com

In re The Learning Tree Academy, Ltd.
   Bankr. S.D. Ohio Case No. 15-10589
      Chapter 11 Petition filed February 23, 2015
         See http://bankrupt.com/misc/ohsb15-10589.pdf
         represented by: Andrew Zeigler, Esq.
                         THOMPSON & DEVENY CO. LPA
                         E-mail: andrew@thompsonanddeveny.com

In re Steven Daniel Budke
   Bankr. W.D. Wash. Case No. 15-11026
      Chapter 11 Petition filed February 23, 2015



                            *********

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

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

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

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

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

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

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

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

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

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

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

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