TCR_Public/150302.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, March 2, 2015, Vol. 19, No. 61

                            Headlines

30DC INC: Reports $219K Net Loss for Second Quarter
A.D. WILLIS: Files for Bankruptcy Under Chapter 7
ACME HOLDING: FDIC Wins Almost $900K Judgment Against CEO
AEMETIS INC: To Issue 100,000 Shares Under 2007 Stock Plan
AES CORP: Moody's Affirms 'Ba3' CFR & Senior Unsecured Rating

ALCO STORES: Asks Court to Approve Four Private Asset Sales
ALLY FINANCIAL: Reports $1.1 Billion Net Income for 2014
AMERICAN AIRLINES: Fitch Rates Senior Unsecured Notes 'B+/RR4'
AMERICAN AIRLINES: Moody's Rates New $500MM Unsecured Notes 'B3'
AMERICAN AIRLINES: S&P Assigns 'B' Rating on Sr. Unsecured Notes

AMERICAN MEDIA: Conference Call Held to Discuss Results
AMERICAN POWER: Matthew Steenwyk Reports 6.5% Stake as of Feb. 23
ANGEL AMERICAS: Public Auction Slated for March 5
ANTERO RESOURCES: Moody's Raises Corp. Family Rating to 'Ba2'
ARALCO SA: Brazilian Sugar Producer Enters Bankruptcy in U.S.

ARKANOVA ENERGY: Re-prices 4.6 Million Stock Options
ARMTEC HOLDINGS: S&P Lowers CCR to 'CCC-'; Outlook Negative
ATWATER PUBLIC: Fitch Raises 2008 Rev. Bonds Rating From 'BB'
BASHAS' INC: To Remodel 10 Old Stores This Year
BERKELEY, MO: S&P Raises Rating on 2010 COPs From 'BB+'

BION ENVIRONMENTAL: To Issue 5-Mil. Shares Under Incentive Plan
BRIAR'S CREEK: Wants Court to Set April 24 as Claims Bar Date
BROWNIE'S MARINE: Reports Amended Net Loss of $896K for 2013
CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 4% Off
CAESARS ENTERTAINMENT: Joins PokerStars to Promote Online Gaming

CAPITAL PRODUCT: S&P Assigns 'BB-' CCR; Outlook Stable
CATANIA CONSTRUCTION: Files for Ch 7; Sec. 341 Meeting on March 18
CATASYS INC: Commences Enrollment for Its OnTrak Program in NJ
CDW LLC: Moody's Raises CFR to Ba3 & Rates $525MM Unsec Notes B1
CDW LLC: S&P Assigns 'B+' Rating on $525MM Sr. Unsecured Notes

CEP REORGANIZATION: KMPG LLP OK'd to Provide Tax-Related Services
CLIFFS NATURAL: Incurs $8.3 Billion Net Loss in 2014
COCRYSTAL PHARMA: CEO Agrees to Cancel Benefits
COMMERCIAL VEHICLE: S&P Revises Outlook & Affirms 'B' CCR
COMMUNICATION INTELLIGENCE: Cancels Venture Champion Facility

COUTURE HOTEL: Settlement Deal with Armed Forces Bank Approved
CROSSMARK HOLDINGS: Moody's Cuts CFR to 'B3', Outlook Negative
CTI BIOPHARMA: Authorized Common Shares Increased to 315 Million
CTI BIOPHARMA: Has Net Financial Standing of $38MM as of Jan. 31
DEB STORES: Needs Until Aug. 3 to File Plan

DORAL BANK: Banco Popular De Puerto Rico Assumes All Deposits
DUNE ENERGY: Negotiating Revised Terms for Tender Offer
DYNASIL CORP: Files Investor Presentation with SEC
DYNASIL CORP: Shareholders Elect Seven Directors
EAT AT JOE'S: Has Agreement to Purchase Franklin Networks

ECOSPHERE TECHNOLOGIES: Gets $450,000 Licensing Fee from US H20
ENERGY & EXPLORATION: Bank Debt Trades at 16% Off
ENERGY FUTURE: Greenhill & Co. OK'd as Independent Fin'l. Advisor
ENERGY FUTURE: Stevens & Lee Okayed as EFIH Independent Counsel
ERF WIRELESS: Issues 55.7 Million Common Shares

FAMILY CHRISTIAN: U.S. Trustee Forms Creditors' Committee
FINJAN HOLDINGS: 2000 University Avenue is New Headquarters
FIRST DATA: Reports $458 Million Net Loss for 2014
FIRST NATIONAL: Settles Bank Secrecy Act Allegations for $1.5MM
FOUNDATION HEALTHCARE: Posts $1.3 Million Net Income for Q3

GENESEE & WYOMING: Moody's Affirms 'Ba2' CFR, Outlook Stable
GENESEE & WYOMING: S&P Puts 'BB' CCR on CreditWatch Negative
GETTY IMAGES: Bank Debt Trades at 14% Off
GLYECO INC: Wynnefield Reports 15.4% Stake as of Feb. 13
GYMBOREE CORP: Bank Debt Trades at 30% Off

HALCON RESOURCES: Reports $247-Mil. Net Income for 4th Quarter
HALCON RESOURCES: Swings to $282.9 Million Net Income in 2014
HANESBRANDS INC: Moody's Says Knights Apparel Deal is Credit Pos.
HEPAR BIOSCIENCE: Lender Agrees to Cash Collateral Use
HERCULES OFFSHORE: S&P Lowers CCR to 'CCC+'; Outlook Negative

HERRING CREEK: Taps Tea Lane Associates as Real Estate Broker
HORIZON LINES: Stockholders Approve Merger with Matson
ICTS INTERNATIONAL: Spencer Corp. Holds 60% Stake as of Sept. 2
INTELLIPHARMACEUTICS INT'L: Files 2014 20-F, Reports $3.8MM Loss
ISAACSON STEEL: Ex-Pres. Pleads Guilty to Conspiracy to Defraud

ISHARES U.S.: S&P Rates U.S. Fixed Income Balanced Risk ETF 'BB+f'
IVANHOE ENERGY: Commences Bankruptcy Proceeding in Canada
JACKSONVILLE BANCORP: James Healey Quits as Director
JASH HOSPITALITY: Case Summary & 2 Largest Unsecured Creditors
KENSTAR CONSTRUCTION: Case Summary & 20 Top Unsecured Creditors

KINDRED HEALTHCARE: S&P Raises Rating on Secured Debt to 'BB-'
LA CONTESSA: Case Summary & 20 Largest Unsecured Creditors
LATTICE SEMICONDUCTOR: Moody's Assigns 'Ba3' CFR, Outlook Stable
LEAR CORP: S&P Revises Outlook to Positive & Affirms 'BB+' CCR
LEVEL 3: Swings to $314 Million Net Income in 2014

LIGHT HOUSE: Files for Ch 7; Sec. 341(a) Meeting Set for April 6
LIQUIDMETAL TECHNOLOGIES: Issues $2MM Note to City National Bank
LIQUIDMETAL TECHNOLOGIES: Visser Precision Owns 9.1% of A Shares
LITEFLEX LLC: Overseas Sales May Boost Market Share, Report Says
MARIA FREEMAN: Plaza to Be Auctioned Off in May

MARKWEST ENERGY: S&P Retains 'BB' Rating After Sr. Notes Add-on
MAUI LAND: Auditors Express Going Concern Doubt
MERRIMACK PHARMACEUTICALS: Incurs $83.5 Million Net Loss in 2014
MERRIMACK PHARMACEUTICALS: Posts $9.5 Million Net Loss for Q4
MERRIMACK PHARMACEUTICALS: To Issue 3.7MM Shares Under Stock Plan

METALICO INC: Sets March 13 Call for 2014 and 4th Quarter Review
MIG LLC: Seeks April 28 Extension of Plan Filing Date
MISSION NEWENERGY: Executive Directors OK Escrow of 15MM Shares
MISSION NEWENERGY: Posts $28.6 Million Profit for H2 of 2014
MOMENTIVE PERFORMANCE: Apollo Atty Says Ruling Aids Private Equity

MOUNTAIN PROVINCE: Offering Proceeds to Fund Overrun Facility
MURRAY ENERGY: Bank Debt Trades at 5% Off
MUSCLEPHARM CORP: Borrows $4 Million From ANB Bank
NATIONAL CINEMEDIA: Posts $8.1 Million Net Income for 4th Quarter
NATIONAL CINEMEDIA: Reports $13.4 Million Net Income for 2014

NET DATA CENTERS: Section 341 Meeting Set for March 27
NEWPAGE CORP: Bank Debt Trades at 3% Off
NORTH SHORE: Files for Ch 11 to Stop Business Partner's Lawsuit
NORTHERN INYO: S&P Lowers Rating on Revenue Bonds to 'BB'
PACIFIC DRILLING: Bank Debt Trades at 21% Off

PARADIGM EAST HANOVER: Seeks to Auction East Hanover Properties
PEOPLE'S COMMUNITY: Says Problems Due to Lack of Good Management
PERKINS & MARIE: Marie Callender's Grill in Seal Beach Closes
PHIBRO ANIMAL: S&P Affirms 'B+' CCR & Revises Outlook to Positive
PHILLIPS INVESTMENTS: Has Until June 6 to File Chapter 11 Plan

PONTIAC CITY SCHOOL: Moody's Affirms 'Caa1' Issuer Rating
POSITIVEID CORP: Reports 7.7% Stake in Veriteq
PRECISION MEDICAL: Case Trustee Wants Substantive Consolidation
PRECISION MEDICAL: Ch.11 Trustee Wants Case Converted to Chapter 7
PREMIER EXHIBITIONS: Shareholders Elect Five Directors to Board

PRESIDENTIAL REALTY: Nickolas Jekogian Reports Shares Ownership
PRM FAMILY: April 1 Set as Initial Joint Plan Confirmation Hearing
PRONERVE HOLDINGS: Meeting to Form Creditors' Panel Set for March 5
QUALITY DISTRIBUTION: Reports Fourth Quarter Net Income of $2.6MM
QUALITY HOME: S&P Raises Rating on $160MM 1st Lien Loan to 'B-'

QUEST SOLUTION: Amends Preferred Stock Certificate of Designation
QUICKSILVER RESOURCES: Gives Executive Officers Retention Bonuses
RADIOSHACK CORP: Analyst Says Bankruptcy Won't Reshape Cell Market
RADIOSHACK CORP: Wants to Hire MAEVA Group as Financial Advisors
REALOGY HOLDINGS: Files 2014 Form 10-K, Posts $143MM Net Income

REVEL AC: ACR Wants Casino Hotel Liquidated, Says Sale Deal Unfair
REVEL AC: Energy Provider Wants Ch. 11 Case Converted to Ch. 7
RIVIERA HOLDINGS: Las Vegas Convention to Buy Hotel-Casino
SABINE PASS: Moody's Assigns Ba3 Rating on New $1BB Secured Notes
SABINE PASS: Moody's Says $2BB Bond Upsize is Credit Negative

SABINE PASS: S&P Assigns 'BB+' Rating on Proposed $1BB Sr. Notes
SEADRILL LTD: Bank Debt Trades at 19% Off
SEARS HOLDINGS: Fairholme Reports 23.9% Stake as of Feb. 25
SEVEN ARTS: Suspending Filing of Reports with SEC
SHIVEM INC: Files for Ch 11, Sec. 341(a) Meeting Set for March 16

SIGA TECHNOLOGIES: Court Sets March 20 as Claims Bar Date
SILVERSUN TECHNOLOGIES: Amends Form S-1 Prospectus with SEC
SPENDSMART NETWORKS: Chief Revenue Officer & Secretary Named
SPROUTS FARMERS: Moody's Says 4th Qtr Results is Credit Positive
SRC COMPUTERS: Foreclosure Auction Moved

STEREOTAXIS INC: Posts $856,000 Net Income for Fourth Quarter
TANK HOLDING: Moody's Rates New $440MM Term Loan 'B1'
TANK HOLDING: S&P Affirms 'B' CCR; Outlook Stable
TARGETED MEDICAL: Obtains $1.2 Million Loan from Shlomo Rechnitz
TASC INC: S&P Raises Rating on $945MM 1st Lien Debt to 'BB-'

TEAM HEALTH: S&P Affirms 'BB' CCR; Outlook Remains Stable
TECHNICAL EXPERTISE: Involuntary Chapter 11 Case Summary
TRANSGENOMIC INC: Offering 3.5 Million Common Shares
TRAVELPORT WORLDWIDE: Posts $86 Million Net Income for 2014
TXU CORP: Bank Debt Trades at 38% Off

UNI-PIXEL INC: Reports $25.6 Million Net Loss for 2014
UNIVERSITY GENERAL: Case Summary & 30 Largest Unsecured Creditors
UNIVERSITY GENERAL: Files Chapter 11 to Reduce Debt
VANTAGE DRILLING: Bank Debt Trades at 29% Off
VERITEQ CORP: PositiveID Reports 7.7% Stake as of Feb. 26

VERTICAL COMPUTER: Stockholders Elect Two Directors to Board
VIGGLE INC: PAR Investment Reports 4.7% Stake as of Feb. 17
VIRTUAL PIGGY: Extends Terms of Outstanding Warrants
VISUALANT INC: Gets OK for Series A Certificate of Designation
VSA ENTERPRISES: Voluntary Chapter 11 Case Summary

VYSHNAVI INFOTECH: Files for Chapter 11 Bankruptcy Protection
WALTER ENERGY: Reports $470.5 Million Net Loss for 2014
WAVE SYSTEMS: Gets $2.3-Mil. Order for 250,000 Product Licenses
WEST TEXAS GUAR: Scopia Fails to Move Plant Ch. 11 Coverage Row
WESTMORELAND COAL: Gives $2.5 Million Incentive to CEO

WPCS INTERNATIONAL: Has Until May 31 to Regain Nasdaq Compliance
XRPRO SCIENCES: Amends Bylaws to Add Forum Selection
[^] BOND PRICING: For the Week From February 23 to 27, 2015

                            *********

30DC INC: Reports $219K Net Loss for Second Quarter
---------------------------------------------------
30DC, Inc., announced that during its fiscal second quarter ending
Dec. 31, 2014, the company recognized revenues of $177,000 from
continuing operations compared to $207,700 during the fiscal second
quarter period ending Dec. 31, 2013.

The Company reported a net loss of $219,000 and a net loss of
$187,000 for the second quarter and fiscal six months ending Dec.
31, 2014, compared to a loss of $406,000 and a gain of $337,000 for
the same periods of fiscal 2013.

According to Ed Dale, 30DC's CEO, "The majority of revenue in the
past two years has come from the sale of Digital Publishing
Blueprint ("DPB"), a digital publishing training program which
includes a single lifetime MagCast license.  These were all
one-time sales, without a recurring revenue component, and, as a
consequence, the company's sales fluctuated based upon the timing
of promotional launches.  DPB was targeted to our historical
customer base in Internet marketing, and a majority of sales were
through affiliate relationships."

Ted Greenberg, CFO, added, "To date we have sold in excess of 4,000
licenses, and customers have published more than 2,000 digital
magazine titles.  This has provided us with real-world  feedback on
our products.  DPB provided the capital for the multiple MagCast
platform upgrades to date without the need for outside capital."

Moving forward, the company is seeking to develop recurring MagCast
revenue and believes its digital publishing products will be
attractive to a wider audience outside of its traditional  customer
base.  Management recently updated and enhanced its internal growth
plan and hopes to begin implementing it in the near future.

30DC ended Dec. 31, 2014, with $123,102 of cash and $546,823 of
shareholders' equity.  The company currently has 76,853,464  common
shares  outstanding which reflects the redemption  of 10,560,000
shares during the year as part of the divestiture of the Immediate
Edge business in February 2014.  

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

                        http://is.gd/HBf2F5

                           About 30DC Inc.

New York-based 30DC, Inc., provides Internet marketing services
and related training to help Internet companies in operating their
businesses.  It operates in two divisions, 30 Day Challenge and
Immediate Edge.

The Company reported a net income of $31,700 on $700,000 of total
revenue for the three months ended Sept. 30, 2014, compared to net
income of $737,000 on $1.94 million of total revenue for the same
period in the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $2.63 million
in total assets, $2.08 million in total liabilities, and
stockholders' equity of $547,000.


A.D. WILLIS: Files for Bankruptcy Under Chapter 7
-------------------------------------------------
Robert Grattan, staff writer at Austin Business Journal, citing
court documents, reported that A.D. Willis Company Inc. located at
4266 Felter Lane, has filed for Chapter 7 bankruptcy protection,
listing more than 200 creditors, $3 million in assets and $3.8
million in liabilities.

Mr. Grattan said the company's assets include the two-acre property
it owns at 4266 Felter Lane, as well as nearly $300,000 in
inventory and almost $530,000 in equipment and machinery.

According to the Austin Business Journal, the company estimates
that after exempt property is excluded and expenses paid there will
be no funds available for unsecured creditors.  Frost National Bank
holds the largest secured claim against the company's assets at
$1.1 million.

Unsecured claims include Austin Roofing Supply Group's more than
$120,000 trade debt and nearly $390,000 in loans from Magdalena
Willis, of Austin.  Houston's West End Lumber is owed a more than
$450,000 trade debt as well. Court documents show a total of $2.5
million in unsecured claims, Mr. Grattan said.

Mr. Grattan noted Stephen Roberts, Esq., of Strasburger & Price LLP
office.  Mr. Roberts can be reached at:

   Stephen Roberts, Esq.
   Partner
   Strasburger & Price LLP
   720 Brazos Street, Suite 700
   Austin, TX 78701
   Tel: 512.499.3624
   Fax: 512.536.5723
   Email: stephen.roberts@strasburger.com

Based in Austin, Texas, A.D. Willis Company Inc. is a roofing
contractor.  The company has between 50 and 99 employees.  Jim
Pipes is the president of company.


ACME HOLDING: FDIC Wins Almost $900K Judgment Against CEO
---------------------------------------------------------
Arkansas Business reports that the Federal Deposit Insurance Corp.
has won a nearly $900,000 summary judgment in the Atlanta U.S.
District Court against Alexander "Lex" P. Golden, III, chief
executive officer of Acme Holding Co.

Arkansas Business recalls that FDIC filed the lawsuit as receiver
of $4.1 billion-asset Silverton Bank of Atlanta, closed by the
Office of the Comptroller of the Currency on May 1, 2009.

According to Arkansas Business, the award is divided between more
than $780,000 owed on a delinquent loan, which sources say is tied
to a purchase of Acme Holding stock, and almost $118,000 in
attorney fees.  The report adds that Mr. Golden owns a 7.3% stake
in the Company.

Arkansas Business relates that the judgment was also made against
Mr. Golden as trustee of his children's trust, which owns 1.6% of
the Company.  

Arkansas Business adds that in January 2015, FDIC landed a $324,632
summary judgment against Mr. Golden's sister, Amy McCay,
individually and as trustee of the Amy McCay Children's Trust.  Ms.
McCay holds a 1.9% share in the Company, while the trust has a 1.6%
stake, according to the report.

                  About Acme Holding Company

Headquartered in Mulberry, Arkansas, Acme Holding Company, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. W.D. Ark. Case
No. 14-71315) on April 29, 2014, estimating assets up to $50,000,
and liabilities between $1 million and $10 million.  The petition
was signed by Alexander "Lex" P. Golden, III, chief executive
officer.  Judge Ben T. Barry presides over the case.  Stanley V
Bond, Esq., at Bond Law Office, serves as the Debtor's bankruptcy
counsel.

Another filing was made on April 29, 2014, for Acme Holding (Case
No. 14-71316).



AEMETIS INC: To Issue 100,000 Shares Under 2007 Stock Plan
----------------------------------------------------------
Aemetis, Inc., disclosed in a document filed with the Securities
and Exchange Commission that it is offering 100,000 shares of
common stock, par value $0.001 per share, to be issued pursuant to
the Company's Amended and Restated 2007 Stock Plan for a proposed
maximum aggregate offering price of $439,000.  A copy of the Form
S-8 prospectus is available at http://is.gd/89NiY3

                           About Aemetis

Cupertino, Calif.-based Aemetis, Inc., is an international
renewable fuels and specialty chemical company focused on the
production of advanced fuels and chemicals and the acquisition,
development and commercialization of innovative technologies that
replace traditional petroleum-based products and convert first-
generation ethanol and biodiesel plants into advanced
biorefineries.

Aemetis reported a net loss of $24.4 million on $178 million
of revenues for the year ended Dec. 31, 2013, as compared with a
net loss of $4.28 million on $189 million of revenues in 2012.

As of Sept. 30, 2014, the Company had $95.1 million in total
assets, $94.5 million in total liabilities and $647,000 in total
stockholders' equity.

                          Bankruptcy Warning

The Company said in the Annual Report for the year ended Dec. 31,
2013, "The adoptions of new technologies at our ethanol and
biodiesel plants, along with working capital, are financed in part
through debt facilities.  We may need to seek additional financing
to continue or grow our operations.  However, generally
unfavourable credit market conditions may make it difficult to
obtain necessary capital or additional debt financing on
commercially viable terms or at all.  If we are unable to pay our
debt we may be forced to delay or cancel capital expenditures,
sell assets, restructure our indebtedness, seek additional
financing, or file for bankruptcy protection."


AES CORP: Moody's Affirms 'Ba3' CFR & Senior Unsecured Rating
-------------------------------------------------------------
Moody's Investors Service affirmed the ratings of AES Corporation
(The), including the Corporate Family Rating and senior unsecured
rating at Ba3, the Probability of Default Rating at Ba3-PD, the
convertible Trust preferred rating at B2, the Senior Secured Bank
Credit Facility at Ba1, as well as the SGL-2 speculative grade
liquidity rating.  The rating outlook for AES is stable.

The rating action is triggered by AES' announcement that its Board
of Directors has authorized a new million share repurchase program
for up to $400 million.  This follows management's announcement at
the end of 2014 to double the size of the dividend distributions
this year, and to progressively reduce over the next several years
its direct and indirect equity interest in IPALCO Enterprises, Inc.
(Baa3 stable) to 70%.

That said, AES' intention to use a significant portion of the
proceeds raised in connection with the initial sale of a 17.65%
direct equity interest in IPALCO to repay indebtedness offsets
these significant credit negatives.  This also acknowledges
management's deleveraging efforts in recent years that included the
reduction of around $419 million in holding company debt in 2014
amid portfolio rationalization and cost saving initiatives.
Another key consideration in the rating action is that management
will combine the implementation of the new share repurchase program
with capital allocation decisions that will further strengthen AES'
balance sheet. Importantly, the rating action captures Moody's
expectation that AES will remain free cash flow positive going
forward, and that it will grow its dividends at a rate that remains
closely aligned with the expected average Parent Only Free Cash
Flow (POCF) growth.  According to management's recent guidelines
POCF is expected to range in 2015 between $475-$575 million with
future annual growth averaging between 10% and 15%. On a negative
note, Moody's calculates that AES' dividend payout ratio will
likely exceed the maximum 40% upper-range payout ratio target of
its sustainable parent only free cash flows that management had set
when it first introduced its dividend policy, a credit negative.

The stable outlook reflects our expectation that AES will be able
to report 3-year average consolidated Funds from Operations (FFO)
to debt and POCF to debt in the low teens as well as interest
coverage on both a consolidated and standalone basis in excess of
2.5x while its 3-year Retained Cash flow (RCF) to debt will average
around 5%.  Moody's calculation of POCF considers its subsidiary
distributions to AES net of parent level interest expense, overhead
expenses and income taxes.

Concurrently with the rating action Moody's has readjusted the
financial leverage credit metrics necessary for AES to maintain its
current Ba3 rating.  This largely results from Moody's reassessment
of AES' business risk profile given the group's increased reliance
on the cash distributions from subsidiaries that operate in less
predictable environments, particularly in the wake of a sizeable
annual common dividend requirement.  This reassessment also
considers Moody's initial expectations that AES' parent level cash
flows generated by regulated utility subsidiaries' dividend
distributions would approximate 40% of its total cash flows which
contributed in November 2011 to the upgrade of AES' CFR to Ba3.
This assumption has proven to be incorrect amid the headwinds faced
by some of AES' key subsidiaries, including DPL, Inc. (Ba3 stable),
and after the planned reduction in its ownership stake in IPALCO.
Therefore, the ratings of AES could face downward pressure to the
extent that the parent level financial metrics of POCF to debt and
RCF to debt fall below 10% and 5%, respectively, for an extended
period.  These metrics still fall below the low-end range of the
guidelines provided for the Ba-rating category under the
Unregulated Utilities and Power Companies Methodology published in
October 2014, namely Cash flows from operations pre-W/C to debt and
RCF to debt of 12% and 8%, respectively.  This reflects Moody's
acknowledgement of the diversified and highly contracted nature of
the cash flows generated by the bulk of AES' subsidiaries which
helps enhance the visibility of their dividend distributions.  The
new downgrade triggers also incorporate management's continuing
deleveraging and cost cutting initiatives as previously cited.

The likelihood of a rating upgrade over the short to medium term is
limited given that AES' 3-year average consolidated FFO to debt and
POCF to debt credit metrics are expected to improve but still
remain weakly positioned for the low end of the Ba-rating category
as outlined in the Unregulated Utilities and Power Companies
Methodology.  Going forward, positive momentum is possible if AES
records a significant improvement in its credit metrics including a
RCF to debt in the low teens, on a sustainable basis.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in October
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.

The following ratings were affected by this action:

Outlook Actions:

Issuer: AES Corporation, (The)

  -- Outlook, Remains Stable

Issuer: AES Trust III

  -- Outlook, Remains Stable

Affirmations:

Issuer: AES Corporation, (The)

  -- Probability of Default Rating, Affirmed Ba3-PD

  -- Speculative Grade Liquidity Rating, Affirmed SGL-2

  -- Corporate Family Rating, Affirmed Ba3

  -- Preferred Shelf, Affirmed (P)B2

  -- Senior Unsecured Shelf , Affirmed (P)Ba3

  -- Senior Secured Bank Credit Facility, Affirmed Ba1(LGD2)

  -- Senior Unsecured Regular Bond/Debenture, Affirmed Ba3(LGD4)

Issuer: AES Trust III

  -- Pref. Stock Preferred Stock, Affirmed B2

The AES Corporation is a globally diversified power holding company
that owns a portfolio of electricity generation and distribution
businesses in 20 countries.


ALCO STORES: Asks Court to Approve Four Private Asset Sales
-----------------------------------------------------------
Alco Stores Inc. has filed a motion seeking court approval to sell
its properties for a total of $1.01 million.

The properties, which include the company's headquarters in
Abilene, Kansas, will be sold in four separate private
transactions.  

TSB Enterprises LLC offered $750,000 for the Abilene headquarters.
Alco Stores' townhome in Watford City will be sold to Home of
Economy Inc. for $210,000 while a mobile home it owns will be sold
to a private buyer for $35,000.

Meanwhile, the company agreed to accept $15,000 from Jetstar
Marketing LLC in exchange for the land it owns in South Hutchinson,
Kansas.

A&G Realty Partners LLC helped the company market the properties.

The motion is on Judge Stacey Jernigan's calendar for March 19.
Objections are due by March 15.

                         About ALCO Stores

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

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

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

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

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

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

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

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


ALLY FINANCIAL: Reports $1.1 Billion Net Income for 2014
--------------------------------------------------------
Ally Financial Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$1.15 billion on $8.39 billion of total financing revenue and other
interest income for the year ended Dec. 31, 2014, compared to net
income of $361 million on $8.09 billion of total financing revenue
and other interest income during the prior year.

As of Dec. 31, 2014, Ally had $152 billion in total assets, $136
billion in total liabilities and $15.4 billion in total equity.

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

                        http://is.gd/8TaGXT

                        About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the April 3, 2014, edition of the TCR, Fitch Ratings has
upgraded Ally Financial Inc.'s long-term Issuer Default Rating
(IDR) and senior unsecured debt rating to 'BB+' from 'BB'.
The rating upgrade reflects increased clarity around Ally's
ownership structure given Ally's recent announcement that it has
launched an initial public offering those shares of its common
stock held by the U.S. Treasury (the Treasury).

As reported by the TCR on July 16, 2014, Moody's Investors Service
affirmed the 'Ba3' corporate family and 'B1' senior unsecured
ratings of Ally Financial, Inc. and revised the outlook for the
ratings to positive from stable.  Moody's affirmed Ally's ratings
and revised its rating outlook to positive based on the company's
progress toward sustained improvements in profitability and
repayment of government assistance received during the financial
crisis.


AMERICAN AIRLINES: Fitch Rates Senior Unsecured Notes 'B+/RR4'
--------------------------------------------------------------
Fitch Ratings has assigned a rating of 'B+/RR4' to the senior
unsecured notes to be issued by American Airlines Group Inc. The
Issuer Default Ratings (IDRs) for American Airlines Group Inc.,
American Airlines, Inc., US Airways Group, Inc., and US Airways,
Inc. remain unchanged at 'B+' with a Stable Outlook.

American intends to issue at least $500 million in senior unsecured
notes. The proceeds will be used for general corporate purposes.
The notes will feature a five-year tenor and will be fully and
unconditionally guaranteed by American Airlines, Inc., US Airways
Group, Inc. and US Airways, Inc. The notes will be rank pari passu
with all current and future senior unsecured indebtedness of the
issuer and all guarantors.

KEY RATING DRIVERS

The 'B+/RR4' rating is driven by Fitch's recovery analysis, which
reflects recovery expectations under a scenario in which distressed
enterprise value is allocated to the various debt classes. Fitch's
recovery analysis incorporates a 'going concern' scenario,
reflecting the likelihood that the company would restructure rather
than liquidate in a potential future bankruptcy. Fitch notes that
although the recovery model indicates the potential for
above-average recovery prospects for American's unsecured debt,
recovery percentages are highly sensitive to model inputs due to
the heavy weighting of the capital structure towards secured debt.
Fitch notes that unsecured recoveries have varied widely in
previous airline bankruptcies as pension, rejected lease, and labor
claims can dilute amounts available to unsecured creditors. An
'RR4' rating reflects the expectation that unsecured noteholders
would likely experience average recovery.

Fitch currently rates American Airlines Group Inc. 'B+' with a
Stable Outlook.

The most recent full ratings review was completed in December 2014.
Fitch views American's credit profile as improving, and a Positive
Outlook or rating action is possible in the near- to
intermediate-term if the merger integration continues smoothly and
if fuel prices remain low. The improving credit profile is
evidenced by the company's strong financial performance since its
emergence from bankruptcy in December 2013 and by the significant
progress in integrating the former US Airways and American Airlines
operations. American's ratings are also supported by its sizeable
liquidity balance. Cash at year end stood at $6.6 billion
(excluding cash held in Venezuela). American also maintains an
undrawn $1.4 billion revolver.

Most important, the company stands to gain a substantial benefit
from lower fuel costs in 2015. American's policy to remain unhedged
allows it to fully benefit from the steep decline in jet fuel seen
in recent months, whereas the cash savings for other operators are
partially offset by hedge losses. Fitch expects lower fuel costs to
lead to potentially significant improvement in the company's credit
metrics over the next year.

Primary rating concerns include risks related to the on-going
merger integration process, a significant debt balance, heavy
upcoming capital requirements, and the company's
shareholder-directed cash deployments. Other rating concerns
include risks inherent to the airline industry, including
cyclicality, intense competition, and exposure to exogenous shocks
(i.e. war, terrorism, epidemics, etc.).

Key Assumptions

-- Continued revenue and profitability improvement based
    on a stable demand environment and lower fuel prices;

-- Further margin expansion based on expected merger-
    related synergies;

-- Pressured free cash flow (FCF) and future debt
    issuance driven by heavy capital spending.

RATING SENSITIVITIES

Positive::

-- Adjusted leverage moving towards 4x;
-- FCF to improve from current negative levels;
-- Further evidence that the merger integration is
    progressing smoothly, e.g. completion of the move to a
    single reservations system.

A negative rating action is not anticipated at this time. However,
Fitch could consider revising the ratings downward if the company
were to experience significant/sustained integration-related
difficulties. The ratings could also be pressured by an unexpected
demand shock that materially affects operating results.


AMERICAN AIRLINES: Moody's Rates New $500MM Unsecured Notes 'B3'
----------------------------------------------------------------
Moody's Investors Service assigned a B3 (LGD5) rating to the $500
million of new five year senior unsecured notes that American
Airlines Group Inc. offered for sale.  Its subsidiaries, American
Airlines, Inc., US Airways Group, Inc. and US Airways, Inc. will
guarantee AAG's payment obligations under the indenture on a joint
and several basis.  Moody's Corporate Family rating of AAG is B1
with a positive outlook.

AAG will use the proceeds of the new notes for general corporate
purposes.  The B3 rating on the new notes, which will be due in
2020, is level with the B3 rating on the $750 million of 5.5%
unsecured notes of AAG due Oct. 1, 2019 and the $500 million of
6.125% senior unsecured notes of US Airways Group, Inc. due June 1,
2018.  Each of AA and US Airways, Inc. guarantee both of these note
issues while AAG and US Airways Group, Inc. provide
cross-guarantees.  The new notes are being sold subject to Rule
144A.  The company does not plan to subsequently register these
notes.

The B1 CFR reflects AAG's leading position in the global passenger
airline industry, improvements in operating margin and operating
cash flow since the closing of the merger, supportive credit
metrics and very good liquidity.  The positive outlook reflects our
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.  The positive outlook
balances the expected improvement in metrics this year against the
potential for fuel prices to retrace at least some of their recent
decline, the uncertainty of how much new debt AAG will raise in the
next year given the current low interest rates and risk in the
integration of the operating systems of American Airlines and US
Airways.

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

American Airlines Group 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.


AMERICAN AIRLINES: S&P Assigns 'B' Rating on Sr. Unsecured Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' issue rating
and '5' recovery rating to American Airlines Group Inc.'s
(B+/Positive/--) senior unsecured notes due 2020.  The '5' recovery
rating indicates S&P's expectation of "modest" (10%-30%) recovery
in a simulated default scenario.  Direct subsidiaries American
Airlines Inc. and US Airways Group Inc. and indirect subsidiary US
Airways Inc. all guarantee the notes.

S&P raised its ratings on American Airlines Group Inc. and its
subsidiaries on Nov. 26, 2013, based on improving earnings and cash
flow generation.  The outlook is positive.  S&P could raise ratings
further if funds from operations to debt exceeds 25% and free
operating cash flow to debt exceeds 10% on a consistent basis.

RATINGS LIST

American Airlines Group Inc.
Corporate credit rating                    B+/Positive/--

New Rating
American Airlines Group Inc.
Senior unsecured notes due 2020            B
  Recovery rating                           5



AMERICAN MEDIA: Conference Call Held to Discuss Results
-------------------------------------------------------
American Media, Inc. held an earnings conference call on Feb. 25,
2015, to discuss the financial results for the three and nine month
periods ended Dec. 31, 2014.  AMI's quarterly report on Form 10-Q
for the three and nine month periods ended Dec. 31, 2014, was filed
with the Securities and Exchange Commission on Feb. 23, 2015.

                       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 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.

                           *     *     *

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 POWER: Matthew Steenwyk Reports 6.5% Stake as of Feb. 23
-----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Matthew Van Steenwyk disclosed that as of Feb. 23,
2015, he beneficially owned 3,319,560 shares of common stock of
American Power Group Corporation, which represents 6.5 percent of
the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/MvJEAs

                     About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural Gas conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100 percent diesel fuel operation at any time.  The
proprietary technology seamlessly displaces up to 80% of the
normal diesel fuel consumption with the average displacement
ranging from 40 percent to 65 percent.  The energized fuel balance
is maintained with a proprietary read-only electronic controller
system ensuring the engines operate at original equipment
manufacturers' specified temperatures and pressures.  Installation
on a wide variety of engine models and end-market applications
require no engine modifications unlike the more expensive invasive
fuel-injected systems in the market.  Additional information at
http://www.americanpowergroupinc.com/    

American Power reported a net loss available to common
stockholders of $3.25 million on $6.28 million of net sales for
the year ended Sept. 30, 2014, compared to a net loss available to
common stockholders of $2.92 million on $7.01 million of net sales
for the year ended Sept. 30, 2013.

As of Dec. 31, 2014, the Company had $9.53 million in total assets,
$5.55 million in total liabilities and $3.97 million in total
stockholders' equity.


ANGEL AMERICAS: Public Auction Slated for March 5
-------------------------------------------------
Jorungaard LLC will offer for sale at a public auction the assets
of Angel Americas LLC on March 5, 2015, at 1:00 p.m.  The auction
will be held at the offices of Silverman Shin Byrne & Gilchrest
PLLC, 381 Park Avenue South, 16th Floor in New York, New York.  For
further information contact John Shin, Esq., at (212) 779-8600.


ANTERO RESOURCES: Moody's Raises Corp. Family Rating to 'Ba2'
-------------------------------------------------------------
Moody's Investors Service upgraded Antero Resources Corporation's
Corporate Family Rating to Ba2 from Ba3 and upgraded the debt
instrument ratings at Antero Resources Corporation and Antero
Resources Finance Corporation's to Ba3 from B1.  The company's
Speculative Grade Liquidity rating (SGL) was changed to SGL-2 from
SGL-3.  The rating outlook is stable.

"The upgrade reflects Moody's expectation that Antero will continue
to report strong production growth and increasing reserves despite
challenging market conditions and without a significant increase in
leverage," stated Stuart Miller, Moody's Vice President -- Senior
Credit Officer. "Antero's low finding and development costs and
significant commodity hedge position should allow the company to
continue to prosper despite today's low commodity price
environment."

Ratings Upgraded:

Antero Resources Corporation

  -- Corporate Family Rating -- upgraded to Ba2 from Ba3

  -- Probability of Default Rating -- upgraded to Ba2-PD from
     Ba3-PD

  -- Senior unsecured note rating -- upgraded to Ba3, LGD 5 from
     B1, LGD 5

  -- Rating Outlook -- Stable

  -- Speculative Grade Liquidity Assessment (SGL) -- changed to
     SGL-2 from SGL-3

Antero Resources Finance Corporation

  -- Senior unsecured note rating -- upgraded to Ba3, LGD 5 from
     B1, LGD 5

Antero's Ba2 CFR reflects its scale and ability to grow production
and reserves in a low commodity price environment thanks to its low
cost structure and high capital efficiency.  Average daily
production in the fourth quarter of 2014 was 211 thousand barrels
of oil equivalent (Boe), representing an 87% increase over the same
quarter in 2013.  Similar to production growth rates, Antero has
achieved impressive proved developed reserve growth over the last
year, increasing to 633 million Boe at year end 2014 from 338
million Boe at the end of 2013.  Capital efficiency, as measured by
the leverage full cycle ratio, was in excess of 4x in 2014 as the
company benefited from a very low finding and development cost of
about $2.75 per Boe.  While this capital efficiency is exceptional,
Moody's recognizes that Antero's aggressiveness in booking proved
undeveloped reserves, and the fact that 70% of the company's
reserves are proved undeveloped, favorably biases their capital
efficiency metric compared to its peers.

The Ba3 rating on Antero's senior notes reflects both Antero's
overall probability of default, to which Moody's assigns a PDR of
Ba2-PD, and a loss given default of LGD 5.  The $2.6 billion of
senior notes are unsecured and are subordinated to the $4 billion
senior secured credit facility.  The contractual subordination of
the unsecured notes is reflected by the note rating being one notch
below the Ba2 CFR, consistent with the Moody's Loss Given Default
Methodology.

Antero uses commodity hedges to protect its cash flow from falling
commodity prices.  In 2015, essentially all of the company's gas
and oil production is hedged at attractive prices.  With minimal
downside risk to its cash flow, unlike most speculative-grade rated
exploration and production companies, Antero intends to continue
its practice of outspending cash flow in 2015.  Moody's projects a
$650 million shortfall which will need to be financed with new debt
or the sale of assets.  Despite the increase in debt, Moody's
expects leverage to remain stable in 2015 as increased production
and proved developed reserves should keep pace with the higher debt
amount.  At year end 2014, the company had debt to average daily
production of about $20,000 per Boe and debt to proved developed
reserves of $6.50 per Boe.  Should the company be successful in
dropping additional midstream assets into Antero Midstream Partners
LP, and if the drop downs are partially financed with equity,
leverage could modestly improve in 2015.

The SGL-2 Speculative Grade Liquidity Rating reflects good
liquidity based on Antero's recently upsized $4 billion credit
facility, of which $1.7 billion was drawn as of Dec. 31, 2014.
After taking into account $400 million of letters of credit, the
company had $1.9 billion of liquidity at year end, more than enough
to cover Moody's projected free cash flow deficit in 2015 of $650
million.  The credit facility matures in 2019 and the next
scheduled redetermination of the borrowing base is not until
October 2015.  The credit facility requires that Antero maintain a
minimum current ratio of 1.0x and a minimum interest coverage ratio
of 2.5x -- parameters that Antero is expected to meet comfortably.
The company could generate additional liquidity in 2015 through the
drop down of assets to Antero Midstream Partners, or through the
sale of units in the partnership itself.

The stable outlook reflects the expectation that Antero will manage
its capital spending in 2015 to keep leverage near the level
reported at the end of 2014.  An upgrade is unlikely until there is
better balance between operating cash flow and capital spending,
and leverage, as measured by retained cash flow to debt, improves
from its yearend level of about 23% to something approaching 30%.
The CFR could be downgraded if debt to average daily production and
debt to proved developed reserves exceeds $25,000 per Boe and $10
per Boe, respectively.

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

Antero Resources Corporation is headquartered in Denver, Colorado
and is engaged in the exploration and production of oil, natural
gas liquids and natural gas, with a primarily focus in the
Marcellus and Utica Shales.


ARALCO SA: Brazilian Sugar Producer Enters Bankruptcy in U.S.
-------------------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that
Brazil-based sugar and ethanol producer Aralco S.A. - Industria e
Comercio filed for bankruptcy protection in a U.S. court to prevent
unhappy bondholders from derailing its survival plan.

According to the report, officials put Aralco's operations into
bankruptcy protection in Manhattan, saying the company's financial
problems worsened during a drought in the São Paulo region that
led to disappointing crop harvests.




ARKANOVA ENERGY: Re-prices 4.6 Million Stock Options
----------------------------------------------------
Arkanova Energy Corporation disclosed in a document filed with the
Securities and Exchange Commission that it re-priced the exercise
price of 4,650,000 stock options granted to directors, officers,
employees and consultants from $0.10 to $0.05.  Pierre Mulacek,
Reginald Denny and Erich Hofer each abstained from approving the
price reduction with respect to their own respective options.  A
copy of the Form 8-K report is available at http://is.gd/0BEzQS

                           About Arkanova

Austin, Tex.-based Arkanova Energy Corporation is a junior
producing oil and gas company and is also engaged in the
acquisition, exploration and development of prospective oil and
gas properties.  It holds mineral leases in Delores County, Lone
Mesa State Park, Colorado and leasehold interests located in
Pondera and Glacier Counties, Montana.

Arkanova Energy reported a net loss of $3 million for the year
ended Sept. 30, 2014, compared with a net loss of $2.73 million for
the year ended Sept. 30, 2013.  As of Sept. 30, 2014, the Company
had $2.52 million in total assets, $14.2 million in total
liabilities and a $11.6 million total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, 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 incurred cumulative losses since inception and has
negative working capital, which raises substantial doubt about its
ability to continue as a going concern.


ARMTEC HOLDINGS: S&P Lowers CCR to 'CCC-'; Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Concord, Ont.-based Armtec Holdings Ltd. to 'CCC-'
from 'CCC+'.  The outlook is negative.

Standard & Poor's also lowered its issue-level rating on Armtec's
senior unsecured notes to 'C' from 'CCC-'.  The '6' recovery rating
on the notes is unchanged, indicating S&P's expectation of
negligible (0%-10%) recovery in the event of default.

"The downgrade reflects our view that a default, distressed
exchange, or redemption appears to be inevitable within six months,
absent unanticipated significantly favorable changes in the
company's circumstances," said Standard & Poor's credit analyst
Jamie Koutsoukis.

Armtec issued a press release on Feb. 26, 2015, stating that
Brookfield Capital Partners Fund III L.P. will extend the maturity
date of its interim facility, and provide a new short-term facility
of C$20 million.  The company also announced that its review of
strategic alternatives and extensions is ongoing and that if no
transaction emerges that would result in Brookfield's debt being
repaid in full, Brookfield has agreed to acquire all of Armtec's
assets in exchange for Brookfield's debt.  Despite these
developments, S&P views the company's capital structure to be
unsustainable, and S&P believes sources of liquidity will not be
sufficient to cover working-capital needs, interest, and capital
spending in the next few months, especially given that S&P expects
low-to-negative cash flow generation in the seasonally weak first
quarter.

"The downgrade also incorporates our view of the deterioration in
Armtec's liquidity position stemming from lower-than-expected
earnings and negative free cash flow generation in 2014, which
reduced the company's cash balance and availability on its
asset-based revolving credit facility," Ms. Koutsoukis added.

The negative outlook reflects S&P's view that the company's capital
structure is unsustainable and we believe some form of capital
restructuring will likely occur in the next six months a result of
Armtec's strategic review.

S&P could lower the rating to 'D' (default) or 'SD' (selective
default) if Armtec does not make its next interest payment when it
comes due March 22, 2015, or the company files for bankruptcy.  S&P
could lower the rating to 'CC' if Armtec announces that it
definitely will not make its upcoming interest payment, announces
plans for a transaction that S&P would consider a distressed
exchange, or plans to file for bankruptcy.

S&P could revise the outlook to developing or raise the rating if
the company's liquidity profile improves from strong cash flow
generation, or if Armtec enters into plans to refinance without a
transaction that S&P would consider a distressed exchange or
redemption.



ATWATER PUBLIC: Fitch Raises 2008 Rev. Bonds Rating From 'BB'
-------------------------------------------------------------
Fitch Ratings has upgraded the rating on the following Atwater
Public Financing Authority, CA (the authority) obligations issued
on behalf of the City of Atwater, CA (the city) to 'BBB-' from
'BB':

-- $18.8 million wastewater revenue bonds, series 2008.

The Rating Outlook is revised to Stable from Positive.

SECURITY

The bonds are secured by installment payments made by the city to
the trustee as assignee of the authority. The city's obligation to
make installment payments is secured by a pledge of gross revenues
of the city's sewer system (the system). The bonds are also secured
by a cash-funded debt service reserve fund (DSRF) funded at the
maximum amount allowable by law and held with the trustee.

KEY RATING DRIVERS

STRUCTURAL BALANCE DRIVES UPGRADE: The upgrade reflects the city's
recent revenue-raising actions that eliminated structural
imbalances in the city's general, water and sanitation funds, thus
reducing pressure on the sewer fund over the last two years as well
as a modestly improving economy.

ADEQUATE FINANCIAL PERFORMANCE TO CONTINUE: The upgrade is further
based on the system's adequate financial performance. Debt service
coverage (DSC) has equaled 1.3x each of the last two years ending
(unaudited) fiscal 2014, and is estimated at 1.4x through the
forecast period.

STABILIZED CASH; LOANS OUTSTANDING: The city's pooled cash position
has stabilized after drawdowns due to deficits accumulated in
various funds. Risks of further loans by the system to shore up
deficits in other city funds appear reduced. Further, the city has
now established an interfund loan policy and loan repayment
amortization schedule for outstanding loans owed to the system.

HIGH DEBT, MANAEABLE CAPITAL: The city's recent succession of debt
issuances to complete construction of a new wastewater treatment
plant in order to comply with environmental requirements has
resulted in high debt levels and slow amortization. However,
capital needs are limited going forward.

LIMITED SERVICE AREA AND RATE FLEXIBILITY: Monthly charges are
substantially higher than surrounding communities and Fitch's
affordability threshold. The recently implemented increases in
water and sanitation rates will further pressure the customer base.
Moreover, the service area's below-average income metrics and high
unemployment challenge the city's ability to increase rates in the
future.

RATING SENSITIVITIES

CONTINUED FISCAL SUSTAINABILITY: Fitch expects continued structural
balance across all funds and gradual improvement in overall
liquidity. Re-emergence of imbalance or reduction of reserves could
result in negative rating action.

MAINTENANCE OF SYSTEM FINANCIAL PROFILE: The rating is based on
achievement of at least forecast DSC and liquidity levels. As such,
a material decline in performance without mitigating factors could
lead to negative rating actions.

CREDIT PROFILE

Atwater is located in northeast Merced County, in the central
portion of California's San Joaquin Valley. With a population of
about 28,000, it is a small agricultural-based community with a
federal prison at the site of the former Castle Air Force Base,
which closed in 1995. The sewer system provides wastewater
collection, treatment, and disposal to the city's residents and to
the Town of Winton (population of about 9,000), a U.S. penitentiary
(inmate population of around 1,200), and Castle Airport Aviation.
These three customers combined provided about 22% of service charge
revenues in fiscal year 2014.

STRUCTURAL BALANCE ACROSS FUNDS

The upgrade reflects the city's actions to date to address
structural deficits in the general, water, and sanitation funds
through fiscal year 2013 that stemmed largely from declining
revenues, rising expenditures, and failure to raise rates in the
water (for 20 years) and sanitation funds (for 10 years). For the
general fund, home values dropped severely during the downturn,
significantly reducing property tax revenues. In addition, almost
all other general fund revenues, with the exception of sales taxes,
also experienced declines in recent years.

To boost revenues and move towards budgetary balance, the city
implemented a five-year water rate package that increased rates for
typical users by 40% for fiscal 2014, followed by additional
increases of 15% annually through fiscal 2018. Further, the city
implemented a sanitation rate increase that increased rates 63% for
fiscal 2014, followed by 6%-7% annual increases through fiscal
2018. The city had implemented a series of sewer rate increase
through fiscal 2012 to fund increased debt service costs and does
not expect any additional increases in the near term. While Fitch
views the city's actions to stabilize the water and sanitation
funds as positive, the combined water/sewer rates are now $96.45
per month, or 2.8% of median household income. These rates are well
above those of surrounding communities and Fitch's affordability
threshold. Consequently, future system rate flexibility will be
constrained.

On the general fund side, in March 2013 voters approved a 10-year
one-half-cent sales tax restricted for public safety spending. The
sales tax generated $1.4 million in fiscal 2014, most of which was
used to restore salary increases for public safety. While these
funds are not expected to increase reserve levels, they should
improve cash flow and reduce what otherwise could have been
significant wage pressure.

ADEQUATE FINANCIAL POSITION

The structural imbalances in the city's general, water, and
sanitation funds eroded the city's fiscal capacity and led to a
sharp reduction in city pooled cash resources in the fiscal
2012-2013 timeframe. The drawdown of pooled cash negatively
affected system cash levels given system resources accounted for
most of the city's total cash balance. According to management, all
funds are now self-supporting and will require no additional
interfund transfers from the sewer fund. Further, the council
adopted an interfund transfer policy requiring council approval of
transfers and more transparent reporting. It also adopted
resolutions outlining the amortization schedules of the outstanding
loan payments to the system totaling $8.7 million, which is to be
repaid to the sewer fund from fiscal 2016 to fiscal 2030.

The city did implement an accounting change in fiscal 2014 in which
sewer fund cash was reduced to bring cash deficits in the other
funds to zero. As a result, the sewer fund's cash balance dropped
on an accounting basis from $7.4 million in fiscal 2013 (or 680
days cash on hand) to just $2.5 million in fiscal 2014 (233 days).
Going forward cash levels are expected to gradually increase given
the loan repayments as well as lack of additional planned interfund
borrowing. DSC, which has been adequate in the 1.2x-1.3x range in
recent years is expected to improve slightly to 1.4x through fiscal
2019.

WILLINGNESS-TO-PAY/ACCELERATION CONCERNS LESSENED

The city council declared a fiscal emergency in October 2012, but
did not pursue any additional steps to erode its perceived
willingness to pay system bonds. Moreover, in November 2012 the
city council ceased its discussion related to possible confidential
mediation process with creditors pursuant to the state's A.B. 506.
The city also passed a fiscal 2013 budget in February 2013 and an
operationally balanced budget for fiscals 2014 and 2015. Fitch does
not currently anticipate that the city will enter into the A.B. 506
process and/or file for Chapter 9 bankruptcy protection.

ELEVATED DEBT PROFILE; LIMITED CAPITAL NEEDS

The system currently operates one wastewater treatment plant
(WWTP). The authority has issued approximately $64 million in
wastewater revenue bonds since 2008 - nearly tripling outstanding
system debt - to construct the new WWTP. The WWTP was designed to
comply with more stringent requirements associated with the
system's discharge permit, including a move to tertiary treatment
standards. As a result of the authority's recent debt issuances,
system per customer and per capita debt levels are 6x-7x higher
than Fitch's national medians and projected debt levels are about
5x higher. In addition, amortization of principal is very slow,
with just 18% and 47% of principal retired in 10 and 20 years,
respectively. However, future capital needs are modest with just
$1.3 million in planned capital spending through fiscal 2019 and no
additional borrowing expected.

WEAK SERVICE AREA

Typical of agricultural communities, unemployment levels (13.1% as
of December 2014) are well above state and national averages while
income levels are below average. Further, median household incomes
are well below, and poverty rates well above, state and national
averages. The area experienced a significant slowdown in growth
during the economic downturn as exemplified by a sharp decline in
connection fee revenues and city assessed values (AV). However,
there are signs of a rebound with a combined AV increase of nearly
17% over fiscals 2014 and 2015.



BASHAS' INC: To Remodel 10 Old Stores This Year
-----------------------------------------------
Bashas' Inc. is remodeling many of its older stores as the Company
emerges from Chapter 11 bankruptcy, John Gutekunst at Parker
Pioneer reports, citing the Company's spokesperson, Rob Johnson.

Parker Pioneer relates that the Company will remodel 10 stores this
year.  Mr. Johson said that the Company remodeled eight of its
stores and four Food City stores in 2014, the report states.

According to Parker Pioneer, the Company has reorganized and has
closed several stores, and are paying off 100% of their debt.  

                        About Bashas' Inc.

Bashas' Inc. is a grocery chain that owns retail stores located
throughout Arizona.  It is doing business as National Grocery,
Bashas Food, Bashas' United Drug, Food City, Eddie's Country Store,
A.J. Fine Foods, Western Produce, Bashas' Distribution Center,
Sportsman's, and Bashas' Dine.

Bashas' and its affiliates filed for Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Case No. 09-16050) on July 12, 2009.
As of the bankruptcy filing, Bashas' owned 158 retail stores.  In
its bankruptcy petition, Bashas' estimated assets and debt of
$100 million to $500 million.

The Debtors tapped Frederick J. Petersen, Esq., at Mesch, Clark &
Rothschild, P.C., as counsel; Michael W. Carmel, Ltd., as
co-counsel; Deloitte Financial Advisory LLP as financial advisors;
and Epiq Bankruptcy Solutions, LLC, served as claims and notice
agent.  

Judge James M. Marlar confirmed Bashas' Chapter 11 reorganization
plan in August 2010.



BERKELEY, MO: S&P Raises Rating on 2010 COPs From 'BB+'
-------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its issuer
credit rating (ICR) to 'BBB' from 'BBB-' on Berkeley, Mo., and
raised its long-term rating on the city's series 2010 certificates
of participation (COPs) to 'BBB-' from 'BB+'.  The outlook is
positive.

"The higher ICR and rating on the COPs reflect marked improvement
in the city's budgetary flexibility and liquidity following a large
general fund surplus in fiscal 2014," said Standard & Poor's credit
analyst John Sauter, "and our expectation that both flexibility and
liquidity will remain at least strong based on management's
projections of balanced operations for fiscal 2015."

The positive outlook is based on the city's indication that it has
positioned its budget to be able to fully support debt service on
its series 2010 COPs through annual operating revenue, without
drawing on reserves.  Should this hold true, S&P may consider a
higher rating.

The COPs, secured by semiannual lease rental payments, were issued
to finance a new city hall and fire station, both of which serve as
assets backing the lease.  The city has pledged to annually
appropriate lease rental payments from any legally available funds
before the conclusion of its fiscal year on June 30.  A debt
service reserve in the amount of $600,000 (more than 1x maximum
November semiannual rent) provides additional security, as well as
liquidity in the event of a delayed budget adoption.  S&P rates the
COPs one notch below the 'BBB' ICR given annual appropriation risk.
The 'BBB-' rating is based on S&P's expectation that the city will
use any and all legally available revenues to meet lease payments.

Also, the rating on the city's series 2013 general obligation (GO)
bonds has been discontinued, as the bonds were never issued.

"The positive outlook reflects our opinion that there is a
one-in-three chance that we could raise the rating within the next
two years," said Mr. Sauter.  If the Berkeley can successfully
absorb the full debt service costs of the COPs into its operating
budget and continue to report balanced results, which would, in
return, further stabilize the budgetary flexibility and liquidity
positions at strong or better levels, we may consider a higher
rating.

At the same time, if the city is challenged to keep its operating
budget balanced, which could face pressure from staffing needs or
pension costs, S&P could revise the outlook back to stable.  S&P do
not anticipate lowering the rating as it expects that the city will
maintain sufficient liquidity and reserves to meet operating costs
and debt service over the outlook period, despite potential
pressures of absorbing the debt into the budget.  A higher rating
is also dependent on the management team maintaining consistency in
key leadership positions.



BION ENVIRONMENTAL: To Issue 5-Mil. Shares Under Incentive Plan
---------------------------------------------------------------
Bion Environmental Technologies, Inc., registered with the
Securities and Exchange Commission 5,000,000 shares of common stock
issuable under the Company's 2006 Consolidated Incentive Plan for a
proposed maximum aggregate offering price of $4.05 million.  This
increase was approved by the Company's Board of Directors on Feb.
1, 2015.  A copy of the prospectus is available for free at
http://is.gd/sD8Rd2

                     About Bion Environmental

Bion Environmental Technologies Inc.'s patented and proprietary
technology provides a comprehensive environmental solution to a
significant source of pollution in US agriculture, large scale
livestock facilities known as Confined Animal Feeding Operations.
Bion's technology produces substantial reductions of nutrient
releases (primarily nitrogen and phosphorus) to both water and air
(including ammonia, which is subsequently re-deposited to the
ground) from livestock waste streams based upon the Company's
operations and research to date (and third party peer review).

Bion reported a net loss of $5.76 million for the year ended
June 30, 2014, following a net loss of $8.24 million for the year
ended June 30, 2013.

The Company's balance sheet at Dec. 31, 2014, showed $4.07 million
in total assets, $12.8 million in total liabilities, $24,400 in
series B Redeemable Convertible Preferred stock and total
stockholders' deficit of $8.77 million.

GHP Horwath, P.C., in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2014, stating that the Company has not generated
significant revenue and has suffered recurring losses from
operations.  These factors raise substantial doubt about its
ability to continue as a going concern.


BRIAR'S CREEK: Wants Court to Set April 24 as Claims Bar Date
-------------------------------------------------------------
Briar's Creek Golf LLC, dba The Golf Club at Briar's Creek, asks
the U.S. Bankruptcy Court for the District of South Carolina to set
April 24, 2015, as deadline for creditors to file proofs of claim.

The Debtor noted that the Court automatically set the
non-government creditor claims bar date as June 25, 2015, and the
governmental claims bar date as Aug. 10, 2015.

According to the Debtor, on Feb. 10, 2015, the Debtor sought Court
approval to sell substantially all of its assets.  The Debtor
intended to file its plan of liquidation in this matter shortly,
which plan will demonstrate how it proposes to treat each class of
claims against the Debtor.  The Debtor expected to be at a hearing
on the sale motion and a confirmation hearing on the plan by mid-
to late-April, 2015, with a sale closing and funding by early-to
mid-May 2015.

                       About Briar's Creek

Briar's Creek Golf, LLC, sought Chapter 11 protection (Bankr. D.
S.C. Case No. 15-00712) in Charleston, South Carolina, on Feb. 9,
2015.  The Debtor is represented by G. William McCarthy, Jr., Esq.,
Daniel J. Reynolds, Jr., Esq., and W. Harrison Penn, Esq., at
McCarthy Law Firm, LLC, in Columbia, South Carolina.

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

The Debtor is pursuing a sale of substantially all of its assets to
Briar's Creek Holdings, LLC, for a purchase price of $11.3 million,
which consists of $7.4 million in cash and assumption of the $3.9
million secured debt owed to Edward L. Myrick, Sr., plus assumption
of the post-closing liabilities under the Debtor's executory
contracts.


BROWNIE'S MARINE: Reports Amended Net Loss of $896K for 2013
------------------------------------------------------------
The Board of Directors of Brownie's Marine Group, Inc., acting as
audit committee, determined that the Company's Dec. 31, 2013,
financial statements included in its Form 10-K filed on March 17,
2014, could not be relied upon.  

The Company said the Dec. 31, 2013, financial statements contained
an error related to an overstatement of inventory by $107,324 and
understatement of net loss by the same amount due to a system
identified deficiency when timing of entry of new inventory items
in sales order module preceded entry in the inventory module during
the year ended Dec. 31, 2013.  This overstatement predominantly
related to custom orders.  

Accordingly, the consolidated balance sheets, consolidated
statements of operations, consolidated statements of stockholders'
equity, and consolidated cash flow statements for the calendar year
ended Dec. 31, 2013, have been restated to correct the
overstatement and will be included in the Company's Annual Report
on Form 10-K for the fiscal year ended Dec. 31, 2014.

The Company's restated balance sheet at Dec. 31, 2013, showed $1.05
million in total assets and $705,950 in total stockholders'
deficit.  The Company previously reported total assets of $1.16
million and total stockholders' deficit of $598,626.

For the year ended Dec. 31, 2013, the Company reported a restated
net loss of $895,610 compared to a net loss of $788,286 as
reported.

                      About Brownie's Marine

Brownie's Marine Group, Inc., does business through its wholly
owned subsidiary, Trebor Industries, Inc., d/b/a Brownie's Third
Lung, a Florida corporation.  The Company designs, tests,
manufactures and distributes recreational hookah diving, yacht
based scuba air compressor and nitrox generation systems, and
scuba and water safety products.  BWMG sells its products both on
a wholesale and retail basis, and does so from its headquarters
and manufacturing facility in Fort Lauderdale, Florida.  The
Company's common stock is quoted on the OTC BB under the symbol
"BWMG".  The Company's Web site is
http://www.browniesmarinegroup.com/   

Brownie's Marine reported a net loss of $788,000 in 2013, as
compared with a net loss of $2.01 million in 2012.

As of Sept. 30, 2014, the Company had $1.16 million in total
assets, $1.44 million in total liabilities, and a $285,000 total
stockholders' deficit.

                         Bankruptcy Warning

"During the fourth quarter of 2011, the Company formed a joint
venture with one dive entity, and in the first quarter of 2012,
purchased the assets of another, with assumption of their retail
location lease in Boca Raton, Florida.  The Company accomplished
both transactions predominantly through issuance of restricted
common stock in BWMG.  The Company believed these transactions
would help generate sufficient future working capital.  Neither
endeavor did or has generated profit or positive cash-flow.
Therefore, effective May 31, 2013, the Company closed and ceased
operations at its retail facility.  As a result, the Company does
not expect that existing cash flow will be sufficient to fund
presently anticipated operations beyond the fourth quarter of
2014.  This raises substantial doubt about BWMG's ability to
continue as a going concern.  The Company will need to raise
additional funds and is currently exploring alternative sources of
financing.  We have issued a number of convertible debentures as
an interim measure to finance our working capital needs.  We have
historically paid for many legal and consulting services with
restricted stock to maximize working capital.  We intend to
continue this practice in the future when possible.  We have
implemented some cost saving measures and will continue to explore
more to reduce operating expenses.

"If we fail to raise additional funds when needed, or do not have
sufficient cash flows from sales, we may be required to scale back
or cease operations, liquidate our assets and possibly seek
bankruptcy protection.  The accompanying consolidated financial
statements do not include any adjustments that may result from the
outcome of this uncertainty," the Company stated in the Form 10-Q
for the period ended Sept. 30, 2014.


CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 4% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
96.21 cents-on-the-dollar during the week ended Friday, Feb. 27,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.67 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 600 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Aug. 12, 2020, and carries Moody's B2 rating and Standard &
Poor's CCC+ rating.  The loan is one of the biggest gainers and
losers among 216 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.



CAESARS ENTERTAINMENT: Joins PokerStars to Promote Online Gaming
----------------------------------------------------------------
Chad Holloway, writing for Pokernews.com, reports that that Caesars
Entertainment has joined forces with rival PokerStars to promote
the U.S. online gaming market.

Pokernews.com relates that Caesars, longtime opponent of
PokerStars' return to the U.S. market, no longer sees the company
as opposition in the fight for online poker, and has publicly
confirmed it is now "allied" with PokerStars when it comes to
online poker in the U.S.  "As part of our ongoing conversations we
will work closely with Caesars to promote the U.S. online gaming
industry and support responsible legislation at the state and
federal levels," Pokernews.com quoted Eric Hollreiser, Head of
Corporate Communications at PokerStars owner Amaya, as saying.

Pokernews.com says that Sands CEO Sheldon Adelson has vowed to
spend whatever is required to institute a federal ban on online
gaming called the Restoration of America's Wire Act.

According to Pokernews.com, the new relationship between Caesars
Entertainment and PokerStars will likely have a positive impact on
states like Pennsylvania and New York, which are both considering
iGaming, and New Jersey, where iGaming is already legal.

                    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.


CAPITAL PRODUCT: S&P Assigns 'BB-' CCR; Outlook Stable
------------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned its
'BB-' long-term corporate credit rating to Marshall
Islands-registered vessel owner and operator Capital Product
Partners L.P. The outlook is stable.

S&P also assigned its 'BB-' issue rating to the proposed $260
million-$265 million senior secured notes due 2022 to be co-issued
by Capital Product Partners and CPLP Finance Corp.  The issue
rating is subject to S&P's review of the proposed notes' final
documentation.  Any change in the amount or terms of the issuance
would trigger a review and could affect the rating.

The rating on Capital Product Partners reflects S&P's assessment of
the company's business risk profile as "fair" and its financial
risk profile as "aggressive."  The key consideration in S&P's
business risk profile assessment is its view of the shipping
industry's "high" risk, owing to its capital intensity, high
fragmentation, frequent imbalances between demand and supply, lack
of meaningful supply discipline, and charter rate volatility.  The
company's relatively narrow business scope and diversity--with a
focus on the tanker and containership sectors--and its fairly
concentrated charterer base also constrain S&P's assessment.

"We consider these risks to be partly offset by Capital Product
Partners' competitive position.  Underpinning this position is the
low volatility of profitability, which stems from the company's
conservative chartering policy and predictable running costs. There
is limited exposure to fluctuations in operating costs, notably
prices of bunker fuel through time-charter contracts. Furthermore,
our business risk assessment recognizes Capital Product Partners'
established fleet of 30 contracted vessels with an average
remaining contract term of 8.3 years, which provides medium-term
confidence on revenues.  These factors largely counterbalance the
industry's cyclical swings.  We also think that Capital Product
Partners' modern and expanding fleet benefits its competitive
position.  We see further support in the tanker charter rate
conditions, which should continue their gradual recovery in 2015
and 2016 as the industry's demand and supply imbalance narrows,"
S&P said.

"We view Capital Product Partners' financial risk profile as
"aggressive," reflecting the company's relatively high adjusted
debt.  This results from the underlying industry's high capital
intensity as well as the company's partly debt-funded periodic
investment in new tonnage and large distributions to its
unitholders.  Capital Product Partners intends to pursue the partly
debt-financed vessel acquisitions this year for a total of about
$311 million, leading to a higher absolute level of debt. However,
this will be offset by gradually increasing tanker charter rates
and higher vessel operating days owing to the expanding fleet.
Accordingly, we forecast that Capital Product Partners will be able
to maintain its adjusted ratio of funds from operations (FFO) to
debt of 15%-20%, which is commensurate with an "aggressive"
financial risk profile," S&P added.

S&P believes Capital Maritime & Trading Corp. (CMTC; Capital
Product Partners' largest shareholder) exercises meaningful ongoing
control over Capital Product Partners by virtue of its control of
Capital GP LLC, Capital Product Partners' general partner.  S&P
considers the strategic and financial interests of CMTC and the
other unitholders in Capital Product Partners to be currently
aligned.  Unitholders elect five of the eight members of Capital
Product Partners' board of directors.  It is S&P's understanding
that this is the key reason for CMTC not consolidating Capital
Product Partners in its U.S. GAAP accounts.

Under agreements with CMTC, Capital Product Partners is likely to
continue to acquire vessels that already have multi-year contracts.
These so-called drop-downs will likely be funded with a mix of new
equity or unit interests in Capital Product Partners as well as
secured debt.  S&P believes that Capital Product Partners will
likely avoid construction, start-up, initial contracting, and
associated funding and liquidity risks, as CMTC largely bears
them.

S&P's base case assumes:

   -- A pickup in the global economy in 2015 after weak
      performance in 2014, with continued significant differences
      in growth among various national economies.  S&P forecasts
      that the eurozone's (European Economic and Monetary Union)
      GDP grew by a modest 0.8% in 2014 (after a 0.4% contraction
      in 2013), and S&P estimates a further marginal advance to
      1.0% in 2015.  S&P expects that other key contributors to
      trade flows--in particular the U.S. and Asia-Pacific--will
      witness mixed fortunes.  S&P forecasts that U.S. GDP will
      expand by 3.0% in 2015 compared with 2.2% in 2014.
      Meanwhile, S&P believes Asia-Pacific's economic growth will
      largely stabilize at 5.3% in 2015 from 5.1% in 2014, with
      China's growth cooling to 7.1% in 2015 compared with 7.4% in

      2014.  However, there are clear risks in the economic
      outlook, particularly in the eurozone, Russia, and China.

   -- Revenues in line with contracted vessels' daily rates
      provided by Capital Product Partners and for the vessels due

      for re-chartering, according to S&P's forecast time charter
      rates.

   -- Increasing vessel operating days during 2015 compared with
      2014, resulting from five new vessels to be acquired between

      March 2015 and November 2015.

   -- A gradual increase in one-year time charter rates for
      product tankers to $15,000-$16,000 per day in 2015-2016 from

      about $14,600 per day in 2014.

   -- A gradual increase of one-year time charter rates for crude
      oil Suezmax tankers to $24,000-$25,000 per day in 2015-2016
      compared with about $22,700 per day in 2014.

   -- Capital expenditure (capex) of about $280 million in 2015 to

      acquire five vessels from CMTC, which will be partly funded
      by net proceeds from the equity offering and partly with new

      debt on a loan-to-value basis of about 50%.  S&P notes that
      a $30 million advanced payment has already been made to CMTC

      toward the acquisition in 2014. Incremental annual EBITDA
      from these new vessels of about $37 million-$40 million.

   -- No resultant material net change in cash flow leverage
      measures as a result of future drop-downs.

Based on these assumptions, S&P arrives at these credit measures:

   -- A weighted average ratio of Standard & Poor's-adjusted FFO
      to debt of 17%-19% in 2015-2016, which is similar to what
      S&P had forecast for 2014.

   -- A weighted average ratio of Standard & Poor's-adjusted debt
      to EBITDA of 4.0x-4.5x in 2014-2015, slightly up from the
      4.5x S&P forecasts for 2014.

The stable outlook reflects S&P's view that that Capital Product
Partners will maintain rating-commensurate credit measures, owing
to its medium- to long-term time-charter profile; predictable cost
structure; expanding fleet and the resulting increasing earnings,
underpinned by gradually recovering tanker charter rates; and use
of new equity to fund vessel expansion.  Specifically, S&P
forecasts that Capital Product Partners will maintain a ratio of
adjusted FFO to debt of more than 14%, which S&P considers to be
commensurate with the rating.  Furthermore, given the inherent
volatility of the sector in which Capital Product Partners
operates, S&P considers the company's consistently "adequate"
liquidity--with sources covering uses by at least 1.2x for the
following 12 months--to be a critical and stabilizing rating
factor.

A downgrade could stem from unexpected significant and largely
debt-funded investments in additional tonnage beyond S&P's
base-case assumptions, higher-than-anticipated cyclical pressure on
tanker charter rates, or more aggressive shareholder distributions
than S&P currently forecasts that would weaken the company's
liquidity and credit measures, including the ratio of adjusted FFO
to debt falling persistently below 14%.  Moreover, the rating could
come under pressure if S&P regards Capital Product Partners'
treasury management and its liquidity profile as no longer
consistent with S&P's "adequate" assessment.  This could stem, for
example, from an unexpected delay in the refinancing of debt
maturing in 2016-2018.  Also, unexpected swings in profitability
measures that would weaken the company's business risk profile
could lead to a downgrade.

Ratings upside is limited in the short term, in S&P's opinion,
given the periodic partly debt-funded additions to the fleet,
aggressive dividend payout, and limited scope for deleveraging.
These factors preclude Capital Product Partners' financial profile
from strengthening materially.  S&P considers, for example, a ratio
of adjusted FFO to debt strengthening sustainably above 23% to be
consistent with a potential upgrade.



CATANIA CONSTRUCTION: Files for Ch 7; Sec. 341 Meeting on March 18
------------------------------------------------------------------
Aaron Gregg at The Washington Post reports that Catania
Construction, Inc., filed for Chapter 7 liquidation (Bankr. D. Ma.
Case No. 15-11683) on Feb. 6, 2015, estimating assets between
$100,001 and $500,000 and liabilities between $1 million and $10
million.  Lawrence F. Regan, Jr., serves as the Company's
bankruptcy counsel.

Judge Paul Mannes presides over the case.

An 11 U.S.C. Sec. 341(a) meeting will be held on March 18, 2015, at
9:30 a.m. at 341 meeting room 6th Floor at 6305 Ivy Ln., Greenbelt.
Michael G. Wolff is appointed as interim trustee.

Catania Construction, Inc., is headquartered in Beltsville,
Maryland.


CATASYS INC: Commences Enrollment for Its OnTrak Program in NJ
--------------------------------------------------------------
Catasys, Inc., has expanded its Catasys' OnTrak program into New
Jersey with one of the nation's leading national health plans.  The
plan's eligible commercial health plan members will be covered
under the OnTrak program, which includes medical and psychosocial
interventions, as well as intensive care coaching over 52-weeks.

"Given the success of our enrollments, we are excited to expand
into New Jersey with one of the largest health plans in the nation
serving more than 20 million medical members.  We look forward to
working with patients in New Jersey to provide medical and
behavioral treatment in a patient-centric, long-term program that
provides individualized support and coaching to members addressed
by our OnTrak program.  Our outcomes demonstrate that overall,
members who have enrolled in the OnTrak program have achieved
improved health and reduced hospital admissions," said Rick
Anderson, Catasys's president and COO.  "Our initial focus is on
improving the whole health of people with substance use disorders
in order to reduce health care costs for insurers and other payors.
This is a multi-billion dollar opportunity, and through our
business model, we have already demonstrated greater than 50%
reduction in health plan healthcare costs for members enrolled in
our program.  We look forward to delivering similar results in this
plan and continue to focus on further expanding this program
nationally; as we are with many of our other national plans."

Catasys has contracts with many health insurance providers and
currently has approximately 1.8 million Commercially Equivalent
Lives covered under contracts and located in nine states, which is
anticipated to allow the Company to achieve profitability once full
steady state enrollment is achieved.  For more information and a
list of Catasys' customers, please refer to the corporate
presentation posted on the Investors section of the Company's Web
site.

                         About Catasys Inc.

Based in Los Angeles, California, Hythiam, Inc., n/k/a Catasys,
Inc., is a healthcare services management company, providing
through its Catasys(R) subsidiary specialized behavioral health
management services for substance abuse to health plans.

Catasys reported a net loss of $4.67 million on $866,000 of total
revenues for the 12 months ended Dec. 31, 2013, as compared with a
net loss of $11.64 million on $541,000 of total revenues during
the prior year.

As of Sept. 30, 2014, the Company had $2.64 million in total
assets, $43.82 million in total liabilities and a $41.17 million
total stockholders' deficit.

Rose, Snyder & Jacobs 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 the Company has incurred significant operating losses and
negative cash flows from operations during the year ended Dec. 31,
2013.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.

                         Bankruptcy Warning

"Our financial statements have been prepared on the basis that we
will continue as a going concern.  At September 30, 2014, cash and
cash equivalents amounted to $1.5 million and we had a working
capital deficit of approximately $1.5 million.  In January 2014,
May 2014, and September 2014, we closed on financings of
approximately $1.0, $1.5, and $1.5 million, respectively.  We have
incurred significant operating losses and negative cash flows from
operations since our inception.  During the nine months ended
September 30, 2014, our cash used in operating activities of
continuing operations was $3.4 million.  We anticipate that we
could continue to incur negative cash flows and net losses for the
next twelve months.  The financial statements do not include any
adjustments relating to the recoverability of the carrying amount
of the recorded assets or the amount of liabilities that might
result from the outcome of this uncertainty.  As of September 30,
2014, these conditions raised substantial doubt as to our ability
to continue as a going concern.  We expect our current cash
resources to cover expenses through the end of December 2014,
however delays in cash collections, revenue, or unforeseen
expenditures, could negatively impact our estimate.  We are in
need of additional capital, however, there is no assurance that
additional capital can be timely raised in an amount which is
sufficient for us or on terms favorable to us and our
stockholders, if at all.  If we do not obtain additional capital,
there is a significant doubt as to whether we can continue to
operate as a going concern and we will need to curtail or cease
operations or seek bankruptcy relief.  If we discontinue
operations, we may not have sufficient funds to pay any amounts to
stockholders," the Company stated in its quarterly report for the
period ended Sept. 30, 2014.


CDW LLC: Moody's Raises CFR to Ba3 & Rates $525MM Unsec Notes B1
----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to the proposed $525
million 8-year senior unsecured notes to be issued by CDW LLC, a
wholly-owned subsidiary of CDW Corporation.  CDW's other
wholly-owned subsidiary, CDW Finance Corporation, will be a
co-borrower.  As part of the rating action, Moody's upgraded CDW's
corporate family rating to Ba3 from B1, probability of default
rating to Ba3-PD from B1-PD, senior unsecured notes to B1 from B3
and the senior secured credit facility to Ba2 from Ba3.  The
outlook was changed to stable from positive. The rating actions
reflect the company's significant deleveraging and refinancing
efforts over the last couple of years, which delivered over $240
million in proforma annual interest expense savings since 2010.
Moody's affirmed the company's SGL-1 short term liquidity rating.

The proceeds of the new notes will be used for general corporate
purposes, including refinancing the entirety of the remaining $506
million of senior unsecured notes due 2019.  The ratings on the
senior unsecured notes due 2019 will be withdrawn upon the close of
transaction.

CDW's Ba3 CFR is supported by relative earnings stability and
healthy free cash flow generation because of CDW's prominent
position as a value added reseller of technology products and
solutions with a focus on the small and medium sized business (SMB)
segment.  CDW has reduced its working capital utilization and
Moody's anticipates the company's adjusted cash conversion cycle
will remain around 20 to 26 days, limiting the use of cash. Moody's
also believes CDW has favorable prospects for continued market
share gains due to its scale, extensive product offering and broad
market access relative to peers with less scale and market
coverage.

CDW has deleveraged steadily since its 2007 leveraged buyout, and
Moody's expects the company to reach an adjusted debt to EBITDA
level of less than 3.5 times over the next twelve to eighteen
months.  In addition, with private equity owners (Madison Dearborn
and Providence Equity) holding less than 30% of the company shares,
the risk of CDW aiding the equity return to these holders has been
greatly diminished.

Still, Moody's recognizes CDW's moderate financial leverage for its
industry, improved interest coverage ratios as well as limited
financial covenants.  Significant vendor concentration to
Hewlett-Packard and exposure to the volatile small and medium-sized
business segments, as well as budgetary risks associated with the
company's exposure to the public sector, constrain the rating.

The following summarizes the rating actions:

Issuer: CDW LLC

  -- Senior Unsecured Notes July, 2023, rated at B1 (LGD5)

Issuer: CDW Corporation

  -- Corporate Family Rating upgraded to Ba3 from B1

  -- Probability of Default Rating upgraded to Ba3-PD from B1-PD

  -- Speculative Grade Liquidity Rating, affirmed at SGL-1

Issuer: CDW LLC

  -- Senior Unsecured Notes, upgraded to B1 (LGD5) from B3 (LGD5)

  -- Senior Secured Bank Credit Facility, upgraded to Ba2 (LGD3)
from Ba3 (LGD3)

Outlook Actions:

  -- Outlook, revised to Stable from Positive

CDW's liquidity is very good, with the SGL-1 Speculative Grade
Liquidity Rating supported by ample availability under its secured
revolving credit facility, lack of near-term debt maturities and
expectation of about $300 to $350 million of free cash flow
generation.  CDW has relatively stable operating margins (though
low on an absolute basis, similar to other IT distributors), low
capital intensity, and seasonal working capital needs.  This,
combined with the focus on working capital management, supports the
notion of reliable generation of positive free cash flow and boosts
Moody's expectation for cash balances of over $400 million by
December 2015.

CDW issues debt at its wholly-owned subsidiary CDW LLC, which holds
all material assets and conducts all business activities and
operations.  The ratings for the senior secured term loan (Ba2
LGD3) and senior notes (B1 LGD5) reflect the overall probability of
default of the company, reflected in thePDR of Ba3-PD, and the
expectation for average family recovery in a default scenario.  The
Ba2 rating of the senior secured debt (senior secured bank credit
facilities due 2020) reflects their senior position in CDW's
capital structure, first lien on property plant and equipment and
second lien on assets backing the ABL revolver.

The stable rating outlook reflects CDW's decreasing interest
expense and leverage, and anticipated increases in annual free cash
flow.  The outlook also reflects the company's consistent revenue
stream from the public sector, which counteracts greater
fluctuations in corporate sector revenue, as well as Moody's
expectation for continued execution of its business strategy,
stable vendor/customer relationships and market share gains.

Ratings could be upgraded if CDW demonstrates further increases in
revenue and free cash flow generation, while operating margins move
to a higher sustainable range in upper single digits.  An upgrade
could also occur upon debt reduction, such that total adjusted debt
to EBITDA leverage is expected to be sustained below 3.0x.

Ratings could be downgraded if CDW experiences loss of
customers/market share or pricing pressures due to increasing
competition or a weak economic environment such that margins,
interest coverage, or free cash flow generation erodes.  Financial
leverage approaching 4.0x total adjusted debt to EBITDA could also
lead to a downgrade.

Based in Vernon Hills, IL CDW is a leading IT products and
solutions provider to business, government, education and
healthcare customers in the U.S. and Canada. Moody's expects net
revenue to be over $12 billion over the next twelve months.

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


CDW LLC: S&P Assigns 'B+' Rating on $525MM Sr. Unsecured Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating and '6' recovery rating to Vernon Hills, Ill.-based
value-added information technology solutions provider CDW LLC's
proposed $525 million senior unsecured notes due 2023 (issued by
CDW LLC and CDW Finance Corp.).  The ratings are the same as those
on the company's existing senior unsecured debt.  The '6' recovery
rating indicates S&P's expectation for negligible (0%-10%) recovery
in the event of payment default, as S&P expects that secured
creditors would receive substantially all of the residual value in
a default scenario.  S&P expects the company to use the proceeds of
the new notes to refinance its 8.5% senior notes due 2019.  S&P
will withdraw its ratings on the 8.5% notes after the company
completes the transaction.

S&P's 'BB' corporate credit rating and positive outlook on CDW
remain unchanged.  S&P's ratings on the company's existing debt are
also unchanged.

RATINGS LIST

CDW LLC
Corporate Credit Rating                  BB/Positive/--

New Rating

CDW LLC
CDW Finance Corp.
Senior Unsecured
  $525 mil. notes due 2023                B+
   Recovery Rating                        6



CEP REORGANIZATION: KMPG LLP OK'd to Provide Tax-Related Services
-----------------------------------------------------------------
Bankruptcy Judge Charles Novack authorized CEP Reorganization,
Inc., et al., to employ KPMG, LLP to provide tax-related services.

KMPG has serve the Debtors since 2011.  Two of the engagement
letter agreements (the Transaction Tax Letter and the Property Tax
Letter) which outline proposed services to be provided by KPMG to
the Debtors pursuant to the application were entered into prior to
the Petition Date.  The Debtors' then-Corporate Controller, who is
no longer with the Company, entered into both engagement agreements
on behalf of the Company.  After the commencement of the Chapter 11
cases, the then-corporate controller advised the Debtors'
management that because the engagement agreements existed
prepetition, approval of KPMG's employment by the Court was
unnecessary.

As detailed in the engagement letters, KPMG has agreed to provide
these services:

A. Tax Compliance Services:

   i. prepare the state and local transaction tax returns and
supporting schedules for the Debtors for a one year reporting
period commencing with tax periods as of Feb. 1, 2014, and ending
on March 31, 2015 (the Transaction Tax Services);

  ii. if required, provide electronic tax filing services in the
states where electronic filing is required and complete the
electronic submission to the appropriate taxing authorities upon
review and approval of the completed returns by the Debtors;

iii. respond to routine correspondence received from tax
authorities associated with the tax returns prepared by KPMG.
Non-routine notices can be addressed by KPMG and will be included
in the tax consulting services to be provided.

B. Tax Consulting Services:

   i. assistance for which the Debtors seek KPMG's advice, both
written and oral, that is not subject to an additional engagement
letter.

  ii. routine tax advice concerning the state and local tax matters
related to the preparation of state and local tax returns; and

iii. routine tax advice concerning the state and local tax matters
related to the computation of the Debtors' property tax for the
current year or future years.

C. Additional Services:  KPMG will provide other consulting,
advice, research, planning, and analysis regarding tax compliance
and tax consulting services as may be necessary, desirable or
requested from time to time.

In the 90 days prior to the commencement of the Chapter 11 cases,
the Debtors paid to KPMG amounts totaling $19,544 for services
rendered by KPMG to the Debtors.

Since the Petition Date, the Debtors have paid KPMG's monthly
invoices pursuant to these prepetition engagements on a monthly
basis when due.  In aggregate, the Debtors have paid $4,141 to KPMG
during the Chapter 11 cases.

The Debtors agreed to pay KMPG, among other things:

Tax Compliance Services - Transaction Tax Services: fees to be
charged relating to the initial Transaction Tax Services portion of
the Tax Compliance Services will be based on the lesser of either
(a) a total fee, billed monthly, based on the schedule set forth
below, or (b) the actual time incurred to complete the work at
KPMG's normal and customary rates for the staff members involved in
providing the services:

  Transaction Tax Services         Monthly Flat Fee Rates
  ------------------------         ----------------------
Per Jurisdiction Fee            $5,000 annually for up to 10
                                filing jurisdictions and then $500

                                per jurisdiction for greater than
                                10 filing jurisdictions

Late Data                       $600 per filing jurisdiction
                                annually

Amended returns based on        Actual time incurred based on
Debtors' request                70% of our normal and customary
                                hourly rates

Initial Setup for additional    Not Applicable
entities

Expenses                        $3,775 annual fee (our software
                                license cost subject to change and

                                based at our actual cost)

Accordingly, the Debtors anticipate that preparation of initial
transaction tax returns will, in all instances, exceed $500 per
jurisdiction, and, therefore, the Debtors believe that the $500 per
jurisdiction flat fee provides a cap on KPMG's fees for initial
Transaction Tax Services, to benefit the Debtors.

For the preparation of amended transaction tax returns, KPMG will
charge hourly billing rates at 70% of our normal and customary
rates.  KPMG's normal and customary rates for the transaction Tax
Compliance Services for the monthly transaction tax returns along
with its hourly billing rates for amended returns are:

Transaction Tax Services    Hourly Rate        Hourly Rate
------------------------    -----------       - Amended Returns
                                               ----------------
Partners/Managing Directors    $975                $682
Senior Managers                $800                $560
Managers                       $625                $437
Senior Associates              $450                $315
Associates                     $350                $245
Tax Technician                 $200                $140

Tax Compliance Services – Property Tax Services: fees to be
charged relating to the Property Tax Services portion of the Tax
Compliance Services will be based on the lesser of: (a) a total
fee, billed monthly, based on the schedule set forth below, and (b)
the actual time incurred to complete the work at a reduction of 30%
from KPMG's normal and customary rates for the staff members
involved in providing the services:

Personal Property Tax Compliance Services          Fees/Rates
-----------------------------------------          ----------
2014 Preparation of personal property
tax returns                                       $350/return

Expenses                                          $700 – $800
                                                  annual fee

Tax Consulting Services and Additional Services: majority of fees
to be charged for Tax Consulting Services and Additional Services
reflect a reduction of approximately 30% from KPMG's normal and
customary rates, depending on the types of services to be rendered.
The hourly rates for Tax Consulting Services and Additional
Services to be rendered by KPMG are:

   Tax Consulting Services                      Discounted Rate
   -----------------------                      ---------------
Partners/Managing Directors                       $682 - $717
Senior Managers                                   $560 – 630
Managers                                          $437 - $455
Senior Associates                                 $315 - $367
Associates                                        $241 - $245
Tax Technician                                       $140

To the best of Debtors' knowledge, information, and belief, KPMG is
disinterested as contemplated in section 101(14) of the Bankruptcy
Code.

                      About ClearEdge Power

Sunnyvale, California-based ClearEdge Power Inc. and two other
affiliates filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Cal. Lead Case No. 14-51955) on May 1, 2014, in San Jose.
Affiliates ClearEdge Power, LLC, and ClearEdge Power International
Service, LLC, are based in South Windsor, Connecticut, where the
manufacturing operations are located.

Privately held ClearEdge designs, manufactures, sells and services
distributed generation fuel cell systems for commercial,
industrial, utility and residential applications.  ClearEdge
bought
United Technologies Corp.'s UTC Power division in late 2012.
ClearEdge sought bankruptcy protection just a week after shutting
operations.

John Walshe Murray, Esq., at Dorsey and Whitney LLP, serves as
counsel to the Debtors.  Insolvency Services Group, Inc., serves as
noticing and claims agent.

ClearEdge Power disclosed $31.3 million in assets and $67.4 million
in liabilities as of the Chapter 11 filing.

Power Inc. estimated $100 million to $500 million in both assets
and debts.

The petitions were signed by David B. Wright, chief executive
officer.

On May 22, 2014, the U.S. Trustee for Region 17 appointed five
creditors to serve in the Committee.  The Committee has hired
Brown
Rudnick as Counsel and Teneo Securities as financial advisors.

The U.S. Bankruptcy Court in San Jose, California, on July 18,
2014, approved the sale of substantially all of the assets of the
Debtors to Doosan Corporation, a unit of Doosan Co. Ltd., of South
Korea.

The U.S. Trustee for Region 17 appointed creditors to be members of
the official committee of unsecured creditors in the Chapter 11
cases of ClearEdge Power Inc. and two affiliates.  Brown Rudnick
LLP represents the Committee.


CLIFFS NATURAL: Incurs $8.3 Billion Net Loss in 2014
----------------------------------------------------
Cliffs Natural Resources Inc. filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $8.31 billion on $4.62 billion of revenues for the
year ended Dec. 31, 2014, compared to net income of $362 million
on $5.69 billion of revenues during the prior year.

As of Dec. 31, 2014, the Company had $3.16 billion in total assets,
$4.89 billion in total liabilities and a $1.73 billion total
deficit.

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

                       http://is.gd/STiXR2

                  About Cliffs Natural Resources

Cliffs Natural Resources Inc. is a mining and natural resources
company.  The Company is a major supplier of iron ore pellets to
the U.S. steel industry from its mines and pellet plants located
in Michigan and Minnesota.  Cliffs also produces low-volatile
metallurgical coal in the U.S. from its mines located in West
Virginia and Alabama.  Additionally, Cliffs operates an iron ore
mining complex in Western Australia and owns two non-operating iron
ore mines in Eastern Canada. Driven by the core values of social,
environmental and capital stewardship, Cliffs' employees endeavor
to provide all stakeholders operating and financial transparency.

Other information on the Company are available at
http://www.cliffsnaturalresources.com/   

On Jan. 27, 2015, Bloom Lake General Partner Limited and certain of
its affiliates, including Cliffs Quebec Iron Mining ULC commenced
restructuring proceedings in Montreal, Quebec, under the Companies'
Creditors Arrangement Act (Canada).  The initial CCAA order will
address the Bloom Lake Group's immediate liquidity issues and
permit the Bloom Lake Group to preserve and protect its assets for
the benefit of all stakeholders while restructuring and sale
options are explored.

                          *    *     *

As reported by the TCR on Feb. 3, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Cliffs
Natural Resources Inc. to 'B' from 'BB-'.  The downgrade of
Cleveland-based Cliffs Natural Resources is driven by a revision
of
the company's financial risk profile to "highly leveraged" from
"aggressive" as a result of S&P's lowered iron ore price
assumptions.  The 24% cut to $65 per metric ton marked the
third downward revision since early 2014, when S&P's forecast
prices were more than $100 per metric ton.

The TCR reported on Dec. 10, 2014, that Moody's Investors Service
downgraded Cliffs Natural Resources Inc.'s Corporate Family Rating
(CFR) and Probability of Default Rating to Ba3 and Ba3-PD
respectively.  The downgrade in the CFR to Ba3 reflects Cliffs'
weak debt protection metrics as evidenced by the EBIT/interest
ratio of 1.1x for the twelve months ended September 30, 2014 and
increasing leverage position.


COCRYSTAL PHARMA: CEO Agrees to Cancel Benefits
-----------------------------------------------
Cocrystal Pharma, Inc., entered into an agreement with Dr. Gary
Wilcox, the Company's chief executive officer, pursuant to which
Dr. Wilcox agreed to terminate all benefits under his employment
agreement with the Company, entered into as of Jan. 2, 2014.  Dr.
Wilcox's employment agreement had provided for a base salary,
target bonus, and stock options.  Dr. Wilcox will continue to serve
as the Company's chief executive officer on an at will basis.

On Feb. 23, 2015, the Company also entered into an agreement with
Dr. Sam Lee, the Company's president, amending the terms of Dr.
Lee's employment agreement with the Company, entered into as of
Jan. 2, 2014.  The Amended Agreement eliminated the target bonus
and grant of stock options available under the Original Agreement,
and reduced the amount of severance payable to Dr. Lee in the event
of termination without cause to six months' salary.

                       About Cocrystal Pharma

Cocrystal Pharma, Inc., formerly known as Biozone Pharmaceuticals,
Inc., is a pharmaceutical company with a mission to discover novel
antiviral therapeutics as treatments for serious and/or chronic
viral diseases.  Cocrystal Pharma employs unique technologies and
Nobel Prize winning expertise to create first- and best-in-class
antiviral drugs.  These technologies and the Company's market-
focused approach to drug discovery are designed to efficiently
deliver small molecule therapeutics that are safe, effective and
convenient to administer.

The Company's primary business going forward is to develop novel
medicines for use in the treatment of human viral diseases.
Cocrystal has been developing novel technologies and approaches to
create first-in-class and best-in-class antiviral drug candidates
since its initial funding in 2008.  Subsequent funding was
provided to Cocrystal Discovery, Inc., by Teva Pharmaceuticals
Industries, Ltd., or Teva, in 2011.  The Company's focus is to
pursue the development and commercialization of broad-spectrum
antiviral drug candidates that will transform the treatment and
prophylaxis of viral diseases in humans.  By concentrating the
Company's research and development efforts on viral replication
inhibitors, the Company plans to leverage its infrastructure and
expertise in these areas.

Biozone incurred a net loss of $19.6 million in 2013, a net loss
of $7.96 million in 2012, and a net loss of $5.45 million in 2011.
As of Sept. 30, 2014, the Company had $11.6 million in total
assets, $7.65 million in total liabilities and $3.97 million in
total stockholders' equity.


COMMERCIAL VEHICLE: S&P Revises Outlook & Affirms 'B' CCR
---------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
New Albany, Ohio-based Commercial Vehicle Group Inc. to stable from
negative and affirmed the 'B' corporate credit rating on the
company.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's senior secured debt.  The recovery rating remains '4',
indicating S&P's expectation for average (30%-50%; upper half of
the range) recovery in the event of payment default.

"The outlook revision reflects the company's improved debt leverage
as well as our view that its credit measures will continue to
improve in 2015," said Standard & Poor's credit analyst Robyn
Shapiro.

The company's operating performance improved in the past year due
to restructuring efforts pursued by the current management team,
which assumed control in 2013.  These cost reductions led to margin
improvements, which the meaningful increase in the industry
production volumes further strengthened.  S&P expects CVG's
recently adopted operating efficiencies to continue to support
credit metrics in line with S&P's expectations for the rating in
2015.

S&P's assessment of CVG's business risk reflects its exposure to
highly cyclical end markets, which are often more cyclical than a
region's overall economy.  CVG depends on the economically
sensitive heavy-duty truck industry (45% of its revenues are from
sales to the North American Class 8 truck market) and off-highway
construction equipment industry (which accounts for 25% of
revenues).  Sales to the aftermarket and vehicle maker services
(14%) are less volatile, and the remainder of sales (16%) stem from
the bus, military, agriculture, and other truck markets.
Macroeconomic drivers for CVG's industry include the strength of
the industrial sector, which generates a significant portion of the
freight tonnage that commercial vehicles haul.  S&P believes the
risk to CVG of a full down-cycle in the North American Class 8
market is that CVG's customers could in-source cab assembly to use
excess capacity.

The stable outlook reflects S&P's belief that CVG's debt leverage
will remain less than 5x and FOCF will remain positive in in 2015.
CVG continues to improve operating performance, illustrated by its
stronger EBITDA margins, which should support increased capital
spending in 2015 and 2016.

S&P could lower its rating over the next 12 months if overall
commercial truck and industrial/agricultural demand falters,
negatively affecting CVG's operating performance.  For example, a
downgrade could occur if debt leverage increases to above 5x or
FOCF turns negative for a sustained period.  This could occur if
gross margins fall to 13% in fiscal 2015.  S&P could also lower the
ratings if CVG were to use a meaningful amount of liquidity, in
excess of S&P's estimate of $30 million for annual capital
spending, for acquisitions or capacity expansion.

S&P could raise the rating over the next 12 months if commercial
vehicle demand remains strong and if CVG further improves its cost
structure meaningfully, increasing the company's EBITDA (such that
it reduces debt leverage to less than 4x), and driving FOCF to debt
above 10% on a sustained basis.



COMMUNICATION INTELLIGENCE: Cancels Venture Champion Facility
-------------------------------------------------------------
Communication Intelligence Corporation and Venture Champion Asia
Limited, an affiliate of ICG Global Limited, mutually agreed to
terminate the May 6, 2014, Credit Agreement previously entered into
by the Company and Lender, according to a document filed with the
Securities and Exchange Commission.  

At the time of the termination of the Credit Agreement, no amount
was owing by the Company to the Lender under the terms of the
Credit Agreement.  A warrant to purchase approximately 10.909
million shares of Common Stock had been issued to the Lender in
connection with the Company's entry into the Credit Agreement.
Contemporaneous with the termination of the Credit Agreement by the
Company and Lender, this warrant was likewise terminated.

                  About Communication Intelligence

Redwood Shores, California-based Communication Intelligence
Corporation is a supplier of electronic signature products and the
recognized leader in biometric signature verification.

Communication Intelligence reported a net loss attributable to
common stockholders of $8.09 million in 2013 compared to a net loss
attributable to common stockholders of $6.74 million in 2012.

PMB Helin Donovan, LLP, in San Francisco, CA, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company's significant recurring losses and accumulated
deficit raise substantial doubt about its ability to continue as a
going concern.


COUTURE HOTEL: Settlement Deal with Armed Forces Bank Approved
--------------------------------------------------------------
U.S. Bankruptcy Judge Barbara J. Houser has approved a settlement
agremeement by debtor Couture Hotel Corporation with Armed Forces
Bank
N.A. (AFB) respect to its Las Vegas hotels.

In the event a sale of the Las Vegas Hotels does not occur by
March 1, 2015, or if AFB is the purchaser of the Las Vegas Hotels
at a sale under 11 U.S.C. Section 363, the automatic stay of 11
U.S.C. Section 362, as it relates to the Las Vegas Hotels, will be

terminated to allow AFB to proceed with a trustee’s sale on or
after March 2, 2015.

                        About Couture Hotel

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

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

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

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

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



CROSSMARK HOLDINGS: Moody's Cuts CFR to 'B3', Outlook Negative
--------------------------------------------------------------
Moody's Investors Service downgraded CROSSMARK Holdings, Inc.'s
Corporate Family Rating to B3 from B2 and its Probability of
Default Rating to B3-PD from B2-PD.  In a related action, Moody's
also lowered the ratings on CROSSMARK's senior secured first-lien
bank credit facility to B2 from B1 and its senior secured
second-lien term loan to Caa2 from Caa1.  The rating outlook is
negative.

The following ratings were lowered:

  -- Corporate Family Rating downgraded to B3 from B2;

  -- Probability of Default Rating downgraded to B3-PD from B2-
     PD;

  -- Senior secured revolving credit facility due 2017 downgraded
     to B2 (LGD3) from B1 (LGD3);

  -- Senior secured first-lien term loan due 2019 downgraded to
     B2 (LGD3) from B1 (LGD3);

  -- Senior secured second-lien term loan due 2020 downgraded to
     Caa2 (LGD5) from Caa1 (LGD5)

Outlook Actions:

  -- Changed To Negative From Stable

The downgrade of CROSSMARK's CFR to B3 reflects the rapid
deterioration in the company's credit metrics following the largely
debt-financed 3Q13 acquisition of Marketing Werks, Inc.  Debt
leverage, measured as adjusted debt/EBITDA, increased to 10.3x as
of Sep. 30, 2014 from 6.1x (pro forma) at the time of the
acquisition (all metrics incorporate Moody's standard adjustments),
and Moody's project that this could remain above 7.5x by the end of
2016.  Marketing Werks was intended to complement and enhance
CROSSMARK's existing capabilities within experiential marketing;
however weaker-than-expected revenues from this business, coupled
with incremental costs associated with this and other recent
acquisitions, are pressuring operating profitability.  Margins and
interest coverage declined substantially during the 12 months ended
Sep. 30, 2014, but these could improve slightly to 7.0% and 1.6x,
respectively, by the end of 2016 if expected cost savings are
realized.

The negative rating outlook reflects our view that the company's
ratings will remain under pressure, because of its elevated debt
leverage and declining profitability.  The ratings and outlook
could be stabilized if current business rationalization efforts, as
well as investments in growth and improved operating efficiency,
begin to substantially deleverage the business and boost
profitability, such that adjusted debt/EBITDA falls below 8.0x.

The downgrade of the senior secured first- and second-lien bank
facilities to B2 and Caa2, respectively, follows from the one-notch
downgrade of the company's CFR.

The B3 CFR reflects our view that CROSSMARK will maintain elevated
debt leverage over the next 12 to 18 months.  Mandatory first-lien
term loan amortization and our expectations for improved operating
performance will help the company deleverage, Moody's currently
project adjusted debt/EBITDA remaining above 7.5x by the end of
2016.  The rating also takes into consideration the company's
currently weak adjusted EBITA margins close to 5.0% and adjusted
EBITA interest coverage of approximately 1.25x, which Moody's
project could improve to about 7.0% and 1.6x, respectively over the
next 12 to 18 months as the company completes its business
rationalization activities and begins to realize expected cost
savings.  In addition, the rating incorporates our concern
regarding CROSSMARK's high customer concentrations -- its top 10
customers represent 40% of revenues -- and competition from the two
larger sales and marketing agencies (SMAs) that have a dominant
combined market share.  Adding to the risk of shareholder-friendly
financial policies under private equity ownership are a number
recent senior management changes, which introduces uncertainty
around the near-term ability to improve operating performance, as
well as future growth strategies.

Offsetting these risks is CROSSMARK's large scale within the SMA
industry, and its strong market position as one of only three
dominant firms in the sector.  The company also has good geographic
diversification compared with smaller, regionally concentrated
competitors.  The industry has high barriers to entry, as switching
costs could be high and also because new entrants lack the ability
to support national brand coverage for larger customers.  While
CROSSMARK faces the risk of losing clients to its larger peers,
some of its client relationships are protected since conflict of
interest issues often restrict companies from representing
competing clients.  These factors help to mitigate some concerns
about the company's customer concentrations and the currently high
debt leverage.  In addition, cyclicality in the SMA industry is
generally low due to the relative stability of demand for many
consumer products being represented by these firms.  CROSSMARK
currently has an adequate liquidity profile, which affords it some
near-term financial flexibility.

CROSSMARK has an adequate liquidity profile, supported by a cash
balance of $9.0 million as of September 30, 2014, a $75 million
revolving credit facility expiring in December 2017, and positive,
albeit weak, expectations for free cash flow generation.  Remaining
availability under the revolver as of the end of the third quarter
was approximately $47 million after accounting for $4.8 million of
borrowings and $28 million of outstanding letters of credit.
Moody's does not expect the company to draw on the revolver over
the next 12 months, aside from intraquarter usage.  The first-lien
bank facility includes a maximum total net leverage covenant
currently set at 5.75x, which steps down to 5.5x in September 2015,
and to 5.25x in September 2016.  The company is currently in
compliance with the covenant and maintains sufficient headroom.
However, Moody's are concerned that future compliance with the
covenant may be less certain given the weaker than expected
profitability of recently acquired companies.

An upgrade is unlikely over the next 1 to 2 years but could occur
if the company is able to bring adjusted debt/EBITDA below 7.0x and
improve adjusted EBITA/interest expense to over 1.5x, while
generating positive free cash flow and improving its liquidity
profile.

A downgrade could occur if the company's experiences a delay in
realizing cost savings from planned rationalization activities and
investments in growth and efficiency initiatives.  If adjusted
debt/EBITDA does not improve or if adjusted EBITA/interest expense
falls below 1.0x, negative rating actions may be taken.
Additionally, deterioration in free cash flow generation or overall
liquidity could also pressure the ratings.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 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.

CROSSMARK Holdings, Inc., headquartered in Plano, TX, is a sales
and marketing services company in the consumer goods industry that
provides service to manufacturers and retailers.  The company
operates three businesses: Sales Agency, Marketing Services, and
International.  Sales Agency includes the management of headquarter
sales activities, category and space management, and retail
services such as routine store coverage and project work.
Marketing services include in-store product demonstrations and
sampling, experiential marketing, and data collection.  The company
is private and is sponsored by affiliates of Warburg Pincus.  Total
revenues for the 12 months ended Sep. 30, 2014 were $816 million.


CTI BIOPHARMA: Authorized Common Shares Increased to 315 Million
----------------------------------------------------------------
CTI BioPharma Corp. announced results from its special meeting of
shareholders held on Friday,
Feb. 27, 2015.  

At the Special Meeting, the shareholders approved an amendment to
CTI BioPharma's articles of incorporation to increase CTI
BioPharma's total number of authorized shares from 215,333,333 to
315,333,333 and an increase CTI BioPharma's total number of
authorized shares of common stock from 215,000,000 to 315,000,000.

CTI BioPharma has filed with the Secretary of State of the State of
Washington an amendment to CTI BioPharma's articles of
incorporation to reflect an increase in authorized shares and
authorized shares of common stock.

                        About CTI BioPharma

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) --
http://www.ctibiopharma.com/-- formerly known as Cell
Therapeutics, Inc., is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
The Company has a commercial presence in Europe and a late-stage
development pipeline, including pacritinib, CTI's lead product
candidate that is currently being studied in a Phase 3 program for
the treatment of patients with myelofibrosis.  CTI BioPharma is
headquartered in Seattle, Washington, with offices in London and
Milan under the name CTI Life Sciences Limited.

Cell Therapeutics reported a net loss attributable to common
shareholders of $49.6 million in 2013, a net loss attributable to
common shareholders of $115 million in 2012, and a net loss
attributable to common shareholders of $121 million in 2011.

"We believe that our present financial resources (including the
$17.8 million we received in October 2014 under the Servier
Agreement), together with additional milestone payments projected
to be received under certain of our contractual agreements, our
ability to control costs and expected net contribution from
commercial operations in connection with PIXUVRI, will only be
sufficient to fund our operations into the third quarter of 2015.
This raises substantial doubt about our ability to continue as a
going concern," the Company disclosed in its quarterly report on
Form 10-Q for the period ended Sept. 30, 2014.


CTI BIOPHARMA: Has Net Financial Standing of $38MM as of Jan. 31
----------------------------------------------------------------
CTI BioPharma Corp. provided information pursuant to a request from
the Italian securities regulatory authority, CONSOB, pursuant to
Article 114, Section 5 of the Italian Legislative Decree no. 58/98,
that the Company issue at the end of each month a press release
providing a monthly update of certain information relating to the
Company's financial situation.

The total estimated and unaudited net financial standing of CTI
BioPharma Parent Company as of Jan. 31, 2015, was $38 million.
CTI BioPharma Consolidated Group reported total estimated and
unaudited net financial standing of $38.3 million as of Jan. 31,
2015.

CTI BioPharma Parent Company's trade payables outstanding for
greater than 30 days were approximately $4.4 million as of Jan. 31,
2015.

CTI BioPharma Consolidated Group's trade payables outstanding for
greater than 30 days were approximately $5.9 million as of
Jan. 31, 2015.

During January 2015, there were solicitations for payment only
within the ordinary course of business and there were no
injunctions or suspensions of supply relationships that affected
the course of normal business.

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

                        http://is.gd/51cTCv

                        About CTI BioPharma

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) --
http://www.ctibiopharma.com/-- formerly known as Cell
Therapeutics, Inc., is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
The Company has a commercial presence in Europe and a late-stage
development pipeline, including pacritinib, CTI's lead product
candidate that is currently being studied in a Phase 3 program for
the treatment of patients with myelofibrosis.  CTI BioPharma is
headquartered in Seattle, Washington, with offices in London and
Milan under the name CTI Life Sciences Limited.

Cell Therapeutics reported a net loss attributable to common
shareholders of $49.6 million in 2013, a net loss attributable to
common shareholders of $115 million in 2012, and a net loss
attributable to common shareholders of $121 million in 2011.

"We believe that our present financial resources (including the
$17.8 million we received in October 2014 under the Servier
Agreement), together with additional milestone payments projected
to be received under certain of our contractual agreements, our
ability to control costs and expected net contribution from
commercial operations in connection with PIXUVRI, will only be
sufficient to fund our operations into the third quarter of 2015.
This raises substantial doubt about our ability to continue as a
going concern," the Company disclosed in its quarterly report on
Form 10-Q for the period ended Sept. 30, 2014.


DEB STORES: Needs Until Aug. 3 to File Plan
-------------------------------------------
Deb Stores Holding LLC, et al., ask the U.S. Bankruptcy Court for
the District of Delaware to further extend the period within which
only they may file a plan of reorganization through and including
Aug. 3, 2015, and the period within which only they may solicit
acceptances of a plan through and including Sept. 30.

According to Laura Davis Jones, Esq., at Pachulski Stang Ziehl &
Jones LLP, the Debtors require additional time to propose a plan
because, since the inception of the bankruptcy cases, their goal
has been to achieve a sale of their assets.  To that end, their
efforts have been and continue to be directed toward marketing
their remaining assets that have not yet been sold, Ms. Jones tells
the Court.

The Debtors are also represented by David M. Bertenthal, Esq.,
Joshua M. Fried, Esq., Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware.

                         About Deb Stores

Headquartered in Philadelphia, Pennsylvania, Deb Stores is a
mall-based retailer in the juniors "fast-fashion" specialty sector
that operates under the name "DEB" and offers moderately priced,
fashionable, coordinated women's sportswear, dresses, coats,
lingerie, accessories and shoes for junior and plus sizes.  The
company, founded by Philip Rounick and Emma Weiner, opened its
first store under the name JOY Hosiery in Philadelphia,
Pennsylvania in 1932.  As of Sept. 30, 2014, the company operated
a total of 295 retail store locations (primarily in the East and
Midwest, especially Pennsylvania, Ohio and Michigan) as well as an
e-commerce channel.

On June 26, 2011, Deb Stores' predecessors -- DSI Holdings Inc.
And its subsidiaries -- sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 11-11941) and closed the sale of the assets
three months later to Ableco Finance, LLC, the agent for the first
lien lenders.

Deb Stores Holding LLC and eight affiliated companies commenced
Chapter 11 bankruptcy cases in Delaware on Dec. 4, 2014.  The
Debtors are seeking to have their cases jointly administered, with
pleadings maintained on the case docket for Deb Stores Holding
(Case No. 14-12676).  The cases are assigned to Judge Mary F.
Walrath.

Laura Davis Jones, Esq., Colin R. Robinson, Esq., at and Peter J.
Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Delaware, serve as counsel to the Debtors.  Epiq Bankruptcy
Solutions, LLC, is the claims and noticing agent.

As of Dec. 31, 2014, the Debtors' most recent audited consolidated
financial statements reflected assets totaling $90.5 million and
liabilities totaling $120.1 million.

The Official Committee of Unsecured Creditors tapped Cooley LLP as
its lead counsel; Drinker Biddle & Reath LLP as its co-counsel;
and
Zolfo Cooper, LLC as its bankruptcy consultants and financial
advisors.


DORAL BANK: Banco Popular De Puerto Rico Assumes All Deposits
-------------------------------------------------------------
Doral Bank, San Juan, Puerto Rico, was closed on February 27, 2015,
by the Office of the Commissioner of Financial Institutions of
Puerto Rico, which appointed the Federal Deposit Insurance
Corporation (FDIC) as receiver.  To protect the depositors, the
FDIC entered into a purchase and assumption agreement with Banco
Popular de Puerto Rico, Hato Rey, Puerto Rico, to acquire the
banking operations, including all the deposits, of Doral Bank.

Doral Bank's 26 former branches will reopen under normal business
hours beginning Saturday, February 28.  Deposits will continue to
be insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage up to applicable limits.  Depositors of Doral
Bank can continue to access their money by writing checks or using
ATM or debit cards.  Checks drawn on the bank will continue to be
processed.  Loan customers should continue to make their payments
as usual.

Banco Popular will operate eight of Doral Bank's 26 former
branches.  It entered into separate agreements with three banks to
acquire 18 of the remaining locations.  FirstBank Puerto Rico,
Santurce, Puerto Rico, will operate and assume the deposits of
Doral Bank's 10 other branches in Puerto Rico; Banco Popular's
affiliated bank, Banco Popular North America, will operate all
three locations in New York City; and Centennial Bank, Conway,
Ark., will operate and assume the deposits of Doral Bank's five
branches in the panhandle area of Florida.  All depositors were
fully protected.  

As of December 31, 2014, Doral Bank had approximately $5.9 billion
in total assets and $4.1 billion in total deposits.  As part of the
transaction with the FDIC, Banco Popular will purchase $3.25
billion of Doral Bank's assets.  Banco Popular agreed to pay the
FDIC a premium of 1.59 percent for the right to assume Doral Bank's
deposits.

The FDIC entered into two separate agreements to sell $1.3 billion
of Doral Bank's assets to other parties.  Those sales are expected
to close in 30 days. The FDIC will retain the remaining assets for
later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $748.9 million.  Compared to other alternatives,
Banco Popular's acquisition was the least costly resolution for the
FDIC's DIF.  Doral Bank is the fourth FDIC-insured institution to
fail this year, and the first in Puerto Rico.  The last time an
FDIC-insured institution was closed in Puerto Rico was on April 30,
2010.



DUNE ENERGY: Negotiating Revised Terms for Tender Offer
-------------------------------------------------------
Eos Petro, Inc., disclosed it has informed Dune Energy, Inc. that,
due to the recent severe decline in oil prices, it cannot proceed
to complete the merger and tender described in the agreement and
plan of merger, dated Sept. 17, 2014, at least not on the terms
originally negotiated.  Because of the severe decline in oil
prices, Eos said its sources of capital for the merger and tender
offer were withdrawn.  

As a result, Eos and Dune have agreed to extend the expiration of
the tender offer to acquire all of the outstanding shares of common
stock of Dune to Friday, Feb. 27, 2015, at 12:00 Midnight, New York
City time to allow the parties additional time to negotiate revised
terms to the Merger Agreement.

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 ten business
days from the date those revised terms are made publicly available,
in order to give Dune's investors adequate time to consider the
revised terms.  However, there is no assurance that the parties
will be able to agree on revised terms.  If those terms are agreed
upon, the parties do not expect the revised per share price for the
shares of Dune common stock tendered for purchase in the tender
offer to be more than nominal.

The tender offer was previously scheduled to expire on Feb. 24,
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. 24, 2015, a total of approximately 72,101,521 shares or
98.76442% 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.

                         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.


DYNASIL CORP: Files Investor Presentation with SEC
--------------------------------------------------
Dynasil Corporation of America furnished with the Securities and
Exchange Commission slides that the Company presented to
stockholders and investors on Feb. 26, 2015.

Revenue decreased from $42.8 million in fiscal 2013 to $42.3
million in 2014.  Revenue declined to $9.6 million from $10.7
million in the first quarter of 2014.

Corporate objectives for 2015 include, among other things:

1. Explore options for further external funding of Xcede
   Technologies for ongoing development of the tissue sealant
   technology;

2. Yield improvements across the Company's Optics companies;

3. Continued commercial revenue growth in the doble digit range;
   and

4. Maintenance of 18+ month backlog in the Company's research
   operation - continued management diligence on matching project
   revenue with direct and indirect costs.

A copy of the document filed with the SEC is available at:

                        http://is.gd/CifOTq

                           About Dynasil

Watertown, Mass.-based Dynasil Corporation of America (NASDAQ:
DYSL) -- http://www.dynasil.com/-- develops and manufactures
detection and analysis technology, precision instruments and
optical components for the homeland security, medical and
industrial markets.

Dynasil Corp reported net income attributable to common
stockholders of $2.07 million for the year ended Sept. 30, 2014,
compared to a net loss attributable to common stockholders of $8.72
million for the year ended Sept. 30, 2013.

As of Dec. 31, 2014, Dynasil corp had $25.5 million in total
assets, $11.5 million in total liabilities and $13.9 million in
total stockholders' equity.


DYNASIL CORP: Shareholders Elect Seven Directors
------------------------------------------------
Dynasil Corporation of America held its annual meeting on Feb. 26,
2015, at which the shareholders:

   (1) elected Craig T. Dunham, Lawrence Fox, William Hagan,
       Michael Joyner, David Kronfeld, Alan Levine and Peter
       Sulick as directors to serve until the next Annual Meeting
       of Shareholders and until their successors are duly
       elected and qualified;

   (2) ratified the appointment of McGladrey LLP as the Company's
       independent registered public accounting firm for
       the fiscal year ending Sept. 30, 2015; and

   (3) approved the compensation of the Company's executive
       officers in an advisory vote.

                           About Dynasil

Watertown, Mass.-based Dynasil Corporation of America (NASDAQ:
DYSL) -- http://www.dynasil.com/-- develops and manufactures
detection and analysis technology, precision instruments and
optical components for the homeland security, medical and
industrial markets.

Dynasil Corp reported net income attributable to common
stockholders of $2.07 million for the year ended Sept. 30, 2014,
compared to a net loss attributable to common stockholders of $8.72
million for the year ended Sept. 30, 2013.

As of Dec. 31, 2014, Dynasil corp had $25.5 million in total
assets, $11.5 million in total liabilities and $13.9 million in
total stockholders' equity.


EAT AT JOE'S: Has Agreement to Purchase Franklin Networks
---------------------------------------------------------
Eat at Joe's, Ltd. disclosed in a document filed with the
Securities and Exchange Commission that it entered into a material
definitive agreement not made in the ordinary course of its
business on Feb. 23, 2015.  The parties to the agreement are the
Company on the one hand, and Mark McGarrity, Kennen Palm, and
Pilgrim Consulting Services, Inc., on the other hand.  McGarrity,
Palm and Pilgrim constitute all of the stockholders of Franklin
Networks, Inc.  No material relationship exists between the Company
and McGarrity, Palm or Pilgrim.

In exchange for all of the issued and outstanding shares of
Franklin, the Company agreed to issue an aggregate of 2.5 million
shares of its restricted common stock issued as follows: one
million restricted shares issued to Mr. McGarrity; one million
restricted shares Mr. Palm and five hundred thousand restricted
shares issued to Pilgrim.

By virtue of the material definitive agreement, the Company
acquired the assets and business of Franklin including, but not
limited to: employment contracts, consulting contracts, customer
lists, customer relationships, trade secrets, trade designs,
technical expertise, know how, proposals, internet web domains,
internet web sites, trade names, and other intellectual property,
and contractual relationships with Ad Service providers.

A copy of the Stock Purchase Agreement is available for free at:

                       http://is.gd/YZXDc9

                        About Eat at Joe's

Scarsdale, N.Y.-based Eat at Joe's, Ltd., presently owns and
operates one theme restaurant located in Philadelphia,
Pennsylvania.

Eat at Joe's reported a net loss of $1.38 million in 2013
following net income of $2.84 million on in 2012.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
raising substantial doubt about its ability to continue as a going
concern.


ECOSPHERE TECHNOLOGIES: Gets $450,000 Licensing Fee from US H20
---------------------------------------------------------------
Ecosphere Technologies, Inc., received payment of a $450,000
licensing fee under the Company's exclusive licensing agreement
with US H20, Inc., bringing total licensing fees paid to the
Company to date by US H20 to $500,000, according to a Form 8-K
filed with the Securities and Exchange Commission.  

Under the terms of the licensing agreement, US H20 has exclusive
rights to use and market the Company's patented Ozonix water
treatment technology in the United States for landfill leachate and
marine port and terminal fields of use.  In addition to the
$500,000 licensing fee, the Company is entitled to royalty payments
equal to 5% of US H20's Ozonix-related gross revenues.

The landfill leachate field of use allows for application of the
Ozonix technology to municipal solid waste landfills in the United
States.  According to the U.S. Environmental Protection Agency,
there are approximately 1,900 active municipal solid waste
landfills in the United States, and in 2012, approximately 251
million tons of municipal solid waste was generated in the United
States.

The marine port and terminal field of use allows the deployment of
the Ozonix technology to commercial ports within the United States,
which, according to the U.S. Coast Guard, encompasses 360
commercial ports that provide approximately 3,200 cargo and
passenger handling facilities.

                    About Ecosphere Technologies

Stuart, Florida-based Ecosphere Technologies (OTC BB: ESPH) --
http://www.ecospheretech.com/-- is a water engineering,
technology licensing and environmental services company that
designs, develops and manufactures wastewater treatment solutions
for industrial markets.  Ecosphere, through its majority-owned
subsidiary Ecosphere Energy Services, LLC, provides energy
exploration companies with an onsite, chemical free method to kill
bacteria and reduce scaling during fracturing and flowback
operations.

Ecosphere Technologies reported net income of $19.2 million in
2013 following net income of $1.05 million in 2012.

As of Sept. 30, 2014, the Company had $16.8 million in total
assets, $3.59 million in total liabilities, $3.78 million in total
redeemable convertible cumulative preferred stock, and $9.41
million in total equity.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company had a loss from operations and cash used in
operations along with an accumulated deficit.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


ENERGY & EXPLORATION: Bank Debt Trades at 16% Off
-------------------------------------------------
Participations in a syndicated loan under which Energy &
Exploration Partners is a borrower traded in the secondary market
at 84.30 cents-on-the-dollar during the week ended Friday, Feb. 27,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 2.75 percentage points from the previous week, The
Journal relates.  Energy & Exploration pays 675 basis points above
LIBOR to borrow under the facility.  The bank loan matures on Jan.
14, 2019.  Moody's and Standard & Poor's did not give a rating to
the loan.  The loan is one of the biggest gainers and losers among
216 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



ENERGY FUTURE: Greenhill & Co. OK'd as Independent Fin'l. Advisor
-----------------------------------------------------------------
The U.S. Bankruptcy Court authorized Debtors Energy Future
Competitive Holdings Company LLC and Texas Competitive Electric
Holdings Company LLC to employ Greenhill & Co. as independent
financial advisor, nunc pro tunc to Nov. 17, 2014.  Greenhill will
use reasonable efforts to avoid any duplication of services
provided by any of the Debtors' other retained professionals in the
Chapter 11 cases.

                         Objections Filed

Prior to the hearing on the application, objections were filed by
various parties.

The Official Committee of TCEH Unsecured Creditors of Energy EFCH,
EFCH's direct subsidiary, TCEH and their direct and indirect
subsidiaries; and EFH Corporate Services Company, objected to the
application to employ Greenhill, stating that the application does
not include a list of specific tasks Greenhill is performing in
light of conflicts.

The Ad Hoc Group of Certain Holders of 10.25% Fixed Senior Notes
due 2015 (including Series B) and 10.50%/11.25% Senior Toggle Notes
due 2016 issued by Texas Competitive Electric Holdings Company LLC
and TCEH Finance, Inc., joined in the objection of the Official
Committee of TCEH Unsecured Creditors.

Andrew R. Vara, the Acting U.S. Trustee for Region 3, also
expressed concern on motion over the lack of specificity and overly
broad range of the proposed scope of conflict services as
articulated in the supplemental declarations of conflicts counsel.

                       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 assets of $36.4 billion in
book value and 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: Stevens & Lee Okayed as EFIH Independent Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court authorized Debtor Energy Future
Intermediate Holding Company LLC to employ Stevens & Lee, P.C., as
independent counsel, nunc pro tunc to Nov. 26, 2014.

S&L will advise and represent EFIH in accordance with the
resolutions of EFIH board of managers in connection with conflict
matter and in determining whether a matter constitutes a conflict
matter.

S&L will report to and at the direction of Charles H. Cremens as
the disinterested manager of EFIH.

In an amended application, EFIH said the disinterested manager
determined it necessary and prudent to retain independent counsel
with respect to conflict matters.  

As reported in the Troubled Company Reporter on Jan. 13, 2015, S&L,
as special counsel to EFIH, will, among other things, advise and
represent EFIH in connection with conflict matters and in
determining whether a matter constitutes a conflict matter,
reporting to and at the direction of the disinterested manager of
EFIH.

On Nov. 7, 2014, the Debtor's board of managers adopted resolutions
determining that Mr. Cremens is a disinterested manager of EFIH and
delegating to him authority to engage independent legal counsel and
other advisors as he deems necessary to represent and advise EFIH
on matters in which a conflict exists between EFIH and any other
Debtor.  On Dec. 9, EFIH's board of managers adopted supplemental
resolutions delegating to the disinterested manager the authority
to review and act upon any conflict matter, to investigate and
determine whether any matter constitutes a conflict matter, and to
make and implement all decisions and bind EFIH and its subsidiaries
in connection therewith, with the advice of independent advisors or
others with whom he determines to consult.

On Nov. 16, Mr. Cremens chose Cravath, Swaine and Moore LLP to
advise and represent EFIH in connection with conflict matters.  On
Nov. 26, EFIH and Cravath selected S&L to act as Delaware counsel
and the application sought the firm's retention nunc pro tunc to
that date.

The current rates and proposed rates for 2015 are:

                                        2014             2015
                                        ----             ----
         Attorney                  $225 - $1,000   $230 - $1,060
         Shareholders              $430 - $1,000   $400 - $1,060
         Of Counsel                $445 -   $650   $410 -   $700
         Associates                $225 -   $575   $230 -   $600
         Paralegals                $220 -   $260   $240 -   $270
         Legal assistants              $160            $165

To the best of the Debtors' knowledge, S&L is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                       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 assets of $36.4 billion in
book value and 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.


ERF WIRELESS: Issues 55.7 Million Common Shares
-----------------------------------------------
ERF Wireless, Inc., disclosed in a document filed with the
Securities and Exchange Commission that it issued 55,764,000 common
stock shares pursuant to existing convertible promissory notes from
Feb. 20 through Feb. 27, 2015.

The Company receives no additional compensation at the time of the
conversions beyond that previously received at the time the
Convertible Promissory Notes were originally issued.  The shares
were issued at an average of $0.000309 per share.  The issuance of
the shares constitutes 19.12% of the Company's issued and
outstanding shares based on 291,650,201 shares issued and
outstanding as of Feb. 20, 2015.

                         About ERF Wireless

Based in League City, Texas, ERF Wireless, Inc., provides secure,
high-capacity wireless products and services to a broad spectrum of
customers in primarily underserved, rural and suburban parts of the
United States.

ERF Wireless reported a net loss attributable to the company of
$7.26 million in 2013, a net loss of $4.81 million in 2012, and a
net loss of $3.37 million in 2011.

As of Sept. 30, 2014, the Company had $3.59 million in total
assets, $10.4 million in liabilities, and a $6.84 million
shareholders' deficit.


FAMILY CHRISTIAN: U.S. Trustee Forms Creditors' Committee
---------------------------------------------------------
The U.S. Trustee for Region 9 appointed seven creditors of Family
Christian LLC to serve on the official committee of unsecured
creditors:

     (1) John Shearer
         HarperCollins Publishers, LLC
         53 Glenmaura National Blvd., Suite 300
         Moosic, PA 18507
         Tel: (570) 941-1244
         Fax (855) 415-2546
         E-mail: john.shearer@harpercollins.com

     (2) John Vogelaar
         Capitol Christian Distribution
         101 Winners Circle N
         Brentwood, TN 37027
         Tel: (615) 371-6938
         Fax: (615) 371-4313
         E-mail: john.vogelaar@umusic.com

     (3) Denise Etris
         Dayspring Cards
         P.O. Box 1010
         21154 Hwy 16 E
         Siloam Springs, AR 72761
         Tel: (479) 549-6430
         Fax: (479) 549-9430
         E-mail: denise.etris@dayspring.com

     (4) Darren Elrod or Scott Knight
         Provident Distribution
         741 Cool Spring Blvd.
         Franklin, TN 37067
         Tel: (615) 261-6473 or (615) 261-6474
         Fax: (615) 261-6913
         E-mail: scott.knight@pmgsonymusic.com
                 darren.elrod@pmgsonymusic.com

     (5) John Seward
         Tyndale House Publishers
         351 Executive Drive
         Carol Stream, IL 60189
         Tel: (800) 323-9400
         Fax: (800) 684-0247
         E-mail: johnseward@tyndale.com

     (6) Ken Williams
         Word Entertainment
         25 Music Square West
         Nashville, TN 37203
         Tel: (615) 726-7875
         Fax: (615) 726-7903
         E-mail: ken.williams@wmg.com

     (7) Bryan Paris or Dalene Lawson
         DD Traders, Inc., dba Demdaco
         5000 West 134th Street
         Leawood, KS 66209
         Tel: (913) 402-6800
         Fax: (913) 402-8791
         E-mail: bryan.paris@demdaco.com
                 dalene.lawson@demdaco.com

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

                     About Family Christian

Family Christian Holding, LLC, is the sole owner and member of
Family Christian, LLC, which operates and runs Family Christian
stores, one of the largest retail sellers of Christian books,
music, DVDs, church supplies, and other faith based merchandise.

Family Christian, LLC, Family Christian Holding, LLC, and FCS
Giftco, LLC, filed Chapter 11 bankruptcy petitions (Bankr. W.D.
Mich. Lead Case No. 15-00643) on Feb. 11, 2015.  The petition was
signed by Chuck Bengochea as president and CEO.  The Debtors
estimated assets and liabilities of $50 million to $100 million.

The Debtors are being represented by Todd Almassian, Esq., at
Keller & Almassian PLC, and Erich Durlacher, Esq., Brad Baldwin,
Esq., Bryan Glover, Esq., at Burr & Forman LLP as counsel.



FINJAN HOLDINGS: 2000 University Avenue is New Headquarters
-----------------------------------------------------------
Finjan Holdings, Inc., disclosed in a document filed with the
Securities and Exchange Commission that it received on Feb. 25,
2015, the consent of the master landlord for a Sublease Agreement
dated as of Jan. 7, 2015, with Tribune Media Company, pursuant to
which the Company will sublease 7,203 square feet of office space
located at 2000 University Avenue, Suite 600, East Palo Alto, CA
94303 from Sublandlord.   

Beginning on the Sublease commencement date and through Sept. 30,
2018, the Company will owe to Sublandlord an initial annual rent of
$424,536, payable in monthly installments, unless earlier
terminated by either party in accordance with the Lease.  The
annual rental rate is subject to an approximately 3.0% increase
each year.  Upon execution of the Lease, the Company delivered a
letter of credit in the amount of $231,405 to be held and applied
(or returned) in accordance with the Lease.

A copy of the Lease is available for free at http://is.gd/2aqRoh

Effective March 1, 2015, the Company's offices at 2000 University
Avenue will become its new headquarters, with all operations and
personnel at the existing Menlo Park office relocating to 2000
University Avenue prior to that time.  The Company's New York
office will cease to serve as headquarters as of the same date,
with operations and personnel transitioning to 2000 University
Avenue on June 30, 2015.  The Company will seek to sublease the
Menlo Park office for the remaining duration of the lease.
Similarly, the Company will seek to sublease the New York office
for the remaining duration of the lease, once the transition is
complete.

                            About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan Holdings reported a net loss of $6.07 million in 2013
following net income of $51 million in 2012.  The Company
reported a net loss of $2 million on $175,000 of revenues for the
three months ended March 31, 2014.

The Company's balance sheet at Sept. 30, 2014, showed $26.1
million in total assets, $2.70 million in total liabilities and
$23.4 million in total stockholders' equity.


FIRST DATA: Reports $458 Million Net Loss for 2014
--------------------------------------------------
First Data Corporation filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K a net loss attributable
to the Corporation of $458 million on $11.2 billion of total
revenues for the year ended Dec. 31, 2014, compared with a net loss
attributable to the Corporation of $869 million on $10.8 billion of
total revenues during the prior year.

As of Dec. 31, 2014, First Data had $34.3 billion in total assets,
$31.6 billion in total liabilities $70.4 million in redeemable
non-controlling interest and $2.64 billion in total equity.

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

                        http://is.gd/LXDEHQ

                          About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST NATIONAL: Settles Bank Secrecy Act Allegations for $1.5MM
---------------------------------------------------------------
First National Community Bank, the wholly-owned bank subsidiary of
First National Community Bancorp, Inc., reached a settlement with
the Office of the Comptroller of the Currency and the Financial
Crimes Enforcement Network to resolve certain Bank Secrecy Act
allegations based on events that transpired a number of years ago
involving former Luzerne County Judge Michael Conahan.  In order to
settle this matter, the Bank has consented to an aggregate civil
money penalty assessment of $1.5 million, which the Bank will
reserve for in its 2014 financial results, according to a document
filed with the Securities and Exchange Commission.

                         About First National

Headquartered in Dunmore, Pa., First National Community Bancorp,
Inc., is a Pennsylvania corporation, incorporated in 1997 and is
registered as a bank holding company under the Bank Holding
Company Act ("BHCA") of 1956, as amended.  The Company became an
active bank holding company on July 1, 1998, when it acquired
ownership of First National Community Bank (the "Bank").  The Bank
is a wholly-owned subsidiary of the Company.

The Company's primary activity consists of owning and operating
the Bank, which provides customary retail and commercial banking
services to individuals and businesses.  The Bank provides
practically all of the Company's earnings as a result of its
banking services.

First National reported net income of $6.38 million on $32.9
million of total interest income for the year ended Dec. 31, 2013,
as compared with a net loss of $13.7 million on $37.02 million of
total interest income for the year ended Dec. 31, 2012.

                         Regulatory Matters

The Bank is under a Consent Order from the Office of the
Comptroller of the Currency dated Sept. 1, 2010.  The Company is
also subject to a Written Agreement with the Federal Reserve Bank
of Philadelphia dated Nov. 24, 2010.

The Bank, pursuant to a Stipulation and Consent to the Issuance of
a Consent Order dated Sept. 1, 2010, without admitting or denying
any wrongdoing, consented and agreed to the issuance of the Order
by the OCC, the Bank's primary regulator.  The Order requires the
Bank to undertake certain actions within designated timeframes,
and to operate in compliance with the provisions thereof during
its term.  The Order is based on the results of an examination of
the Bank as of March 31, 2009.  Since the examination, management
has engaged in ongoing discussions with the OCC and has taken
steps to improve the condition, policies and procedures of the
Bank.  Compliance with the Order is monitored by a committee of at
least three directors, none of whom is an employee or controlling
shareholder of the Bank or its affiliates or a family member of
any such person.  The Committee is required to submit written
progress reports to the OCC on a monthly basis.  The Committee has
submitted each of the required monthly progress reports with the
OCC.  The members of the Committee are John P. Moses, Joseph
Coccia, Joseph J. Gentile and Thomas J. Melone.


FOUNDATION HEALTHCARE: Posts $1.3 Million Net Income for Q3
-----------------------------------------------------------
Foundation HealthCare, Inc., reported net income attributable to
Company common stock of $1.28 million on $30.23 million of revenues
for the three months ended Dec. 31, 2014, compared to a net loss
attributable to the Company common stock of $3.83 million on $24.6
million of revenues for the same period in 2013.

For the year ended Dec. 31, 2014, Foundation Healthcare reported a
net loss attributable to Company common stock of $1.95 million on
$101.4 million of revenues compared to a net loss attributable to
the Company common stock of $20.4 million on $87.3 million of
revenues during the prior year.

As of Dec. 31, 2014, the Company had $59.6 million in total assets,
$66.9 million in total liabilities, $8.7 million in preferred
noncontrolling interest and a $16.07 million total deficit.

"This was another great quarter for Foundation HealthCare and an
excellent way to finish 2014 as we recorded a 19% increase in
patient service revenue at our majority-owned hospitals in the
fourth quarter of 2014 compared to the fourth quarter of 2013; with
a corresponding 21% growth in EBITDA at these hospitals," stated
Stanton Nelson, CEO of Foundation HealthCare, Inc.  "In an industry
faced with many challenges we believe these results validate the
growth strategy and fiscal discipline implemented at Foundation
throughout 2014.  In addition, our clinical teams continue to excel
as we saw our patient satisfaction results for 2014 exceeding 95%.

"We are excited about the growth we experienced in 2014 and look
forward to 2015, as we expect these positive trends to continue.
Since all the hospitals we own and manage are profitable, we plan
to be acquisitive in 2015 by expanding in our existing markets and
looking for opportunities in new geographic markets."

At Dec. 31, 2014, cash and cash equivalents totaled $2.9 million,
compared to $3.6 million at Sept. 30, 2014.

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

                        http://is.gd/xHrelk

                    About Foundation Healthcare

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

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

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


GENESEE & WYOMING: Moody's Affirms 'Ba2' CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Genesee & Wyoming
Inc. and Genesee & Wyoming Australia Pty Ltd, including the Ba2
Corporate Family Rating and the Ba2 rating of the secured credit
facility.  The outlook remains stable.  This rating action follows
Genesee & Wyoming's agreement to acquire approximately 95% of the
shares in Freightliner Group Limited, a European freight rail
operator, for approximately GBP490 million, or $755 million at
current exchange rates, in cash. The acquisition will be 100%
debt-financed.

The ratings affirmation balances the fit of Freightliner within
Genesee & Wyoming's strategic plans against the absence of
Freightliner's control over infrastructure assets and lower
operating margins in the open access markets in which Freightliner
operates.  The acquisition establishes a large foot print for
Genesee & Wyoming in the European freight rail market, which
Moody's believes will enable the company to increase its operations
in continental Europe over time.

However, contrary to Genesee & Wyoming's operations in the U.S.,
Freightliner operates in an open access market, in which ownership
of critical infrastructure assets is segregated from operating a
railroad.  As a result, Freightliner does not have control over
track infrastructure assets and is subject to potentially greater
competition relative to U.S. freight rail operators.  Nevertheless,
Freightliner's terminal network and service offering help to
maintain its significant market share of the U.K. maritime
intermodal market.  Moody's believes that such operating
environment is reflected in Freightliner's operating margins,
which, at around 8%, are substantially below the operating margins
of Genesee & Wyoming's business in the U.S. (around 30%) and
Australia (around 20%), although this is in part due to a
relatively high amount of operating leases.  At the same time, the
open access market significantly reduces the capital intensity of
the rail operations, which mitigates the impact of lower margins on
free cash flow.

With this debt-funded acquisition, Genesee & Wyoming has
substantially exhausted its financial flexibility at the Ba2 rating
level.  Pro forma for the acquisition, Moody's expects Debt to
EBITDA to be at 3.8 times at the end of 2015, compared to 3.2 times
at year-end 2014, assuming no unscheduled debt repayments over this
time frame.  Moody's therefore expects the company to de-lever its
balance sheet, consistent with prior financial practices, before
undertaking any further significant acquisition.

The stable outlook is predicated on Moody's expectation of a pro
forma operating margin of around 25%, calculated on a Moody's
adjusted basis, and free cash flow of around $300 million in the
next 12 to 18 months.  The stable outlook also anticipates a
reduction in Debt to EBITDA towards 3.0 times prior to any
additional significant acquisition.

The ratings could be lowered if demand for rail freight
unexpectedly weakens, or if there is a meaningful deterioration in
pricing or cost structure that sustainably affects profit
negatively.  Operating margins that fall materially below 25% over
an extended period could hinder the company's ability to reduce
debt through discretionary prepayments.  A deterioration in credit
metrics such as debt to EBITDA moving towards 4.0 times or the
expectation of EBIT to Interest to be sustained at less than 3.5
times could also warrant a downgrade.  Further, a change in the
company's shareholder distribution policy is likely to impact
ratings negatively.

Moody's does not foresee upward rating potential in the near term.
However, the ratings could be upgraded following a structurally
lower level of financial leverage, including debt to EBITDA
sustainably at or below the mid 2 times level.  In addition, a
positive rating action could occur following a meaningful increase
in scale and improvements in operating margins.

Affirmations:

Issuer: Genesee & Wyoming Inc.

  -- Corporate Family Rating, Affirmed Ba2

  -- Probability of Default Rating, Affirmed Ba2-PD

  -- Speculative Grade Liquidity Rating, Affirmed SGL-2

  -- Senior Secured Bank Credit Facility (Local Currency) May 31,
     2019, Affirmed Ba2 (LGD3)

  -- Senior Secured Bank Credit Facility (Local Currency) May 31,
     2019, Affirmed Ba2 (LGD3)

Issuer: Genesee & Wyoming Australia Pty Ltd

  -- Senior Secured Bank Credit Facility (Local Currency) May 31,
     2019, Affirmed Ba2 (LGD3)

Outlook Actions:

Issuer: Genesee & Wyoming Inc.

  -- Outlook, Remains Stable

Issuer: Genesee & Wyoming Australia Pty Ltd

  -- Outlook, Remains Stable

The principal methodology used in these ratings was Global Surface
Transportation and Logistics Companies published in April 2013.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

Genesee & Wyoming Inc. operates short line and regional freight
railroads and provides railcar switching services in the U.S.,
Australia, Canada, and Europe.


GENESEE & WYOMING: S&P Puts 'BB' CCR on CreditWatch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'BB'
corporate credit rating on U.S. railroad operator Genesee & Wyoming
Inc. on CreditWatch with negative implications.

S&P also placed its 'BBB-' issue-level rating on Genesee &
Wyoming's senior secured credit facility on CreditWatch with
negative implications.

"The CreditWatch placement follows Genesee & Wyoming's announcement
that it intends to acquire Freightliner Group Ltd. for
approximately $755 million from Arcapita," said Standard & Poor's
credit analyst Tatiana Kleiman.

Genesee will fund the acquisition with $650 million in new term
loans and revolver borrowings.  S&P expects the acquisition to
result in increased debt leverage, which could weaken the company's
financial risk profile.  Although the acquisition will result in a
somewhat larger and better diversified company, it may not be
sufficient to change our current "fair" business risk assessment on
the company.

S&P plans to resolve the CreditWatch after receiving more details
from management.  S&P could lower the rating if it believes that
the incremental debt weakens the financial profile sufficiently,
working against any advantages from increased business diversity
and added earnings.



GETTY IMAGES: Bank Debt Trades at 14% Off
-----------------------------------------
Participations in a syndicated loan under which Getty Images Inc is
a borrower traded in the secondary market at 86.33
cents-on-the-dollar during the week ended Friday, Feb. 27, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of
4.17 percentage points from the previous week, The Journal relates.
The Company pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 14, 2019, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among widely-quoted syndicated
loans in secondary trading in the week ended Friday among the 216
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.



GLYECO INC: Wynnefield Reports 15.4% Stake as of Feb. 13
--------------------------------------------------------
Wynnefield Partners Small Cap Value, L.P. I, and related entities
disclosed in a regulatory filing with the Securities and Exchange
Commission that as of Feb. 13, 2015, they beneficially own an
aggregate 10,635,247 shares of common stock of GlyEco, Inc.,
constituting approximately 15.4% of the outstanding shares of
Common Stock the Issuer.  

The percentage of shares of Common Stock reported as being
beneficially owned by the Wynnefield Reporting Persons is based
upon 69,259,419 shares outstanding, based upon information set
forth in the Issuer's quarterly report on Form 10-Q for the quarter
ended Sept. 30, 2014, filed with the Commission on Nov. 14, 2014.

The following table sets forth certain information with respect to
Common Stock directly beneficially owned by the Wynnefield
Reporting Persons:
   
                                                   Percentage of
                                     Number of      Outstanding
   Name                            Common Stock    Common Stock
----------------                  ------------    ------------
Wynnefield Partners Small Cap      4,984,350          7.2%
Value, L.P. I

Wynnefield Partners Small Cap      3,054,943          4.4%
Value, L.P.

Wynnefield Small Cap Value         2,134,414          3.1%
Offshore Fund, Ltd.

Wynnefield Capital, Inc.            461,540            .7%
Profit Sharing Plan

On Feb. 13, 2015, the Wynnefield Reporting Persons acquired an
aggregate of 6,153,847 common shares.

Also on Jan. 21, 2015, the Issuer's Board appointed Dwight Mamanteo
as a non-executive Chairman of the Issuer's Board.  Mr. Mamanteo
became a director of the Issuer on Jan. 15, 2014, and since
November 2004 has served as a Portfolio Manager at WCI.

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

                        http://is.gd/kPLodl

                         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.


GYMBOREE CORP: Bank Debt Trades at 30% Off
------------------------------------------
Participations in a syndicated loan under which Gymboree Corp is a
borrower traded in the secondary market at 70.20 cents-on-the-
dollar during the week ended Friday, Feb. 27, 2015 according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 1.45
percentage points from the previous week, The Journal relates.
Gymboree Corp pays 350 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Feb. 23, 2018.  The bank
debt carries Moody's B3 and Standard & Poor's CCC+ rating.  The
loan is one of the biggest gainers and losers among 216 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



HALCON RESOURCES: Reports $247-Mil. Net Income for 4th Quarter
--------------------------------------------------------------
Halcon Resources Corporation reported net income available to
common stockholders of $247 million on $239.45 million of total
operating revenues for the three months ended Dec. 31, 2014,
compared to a loss available to common stockholders of $415 million
on $289.3 million of total operating revenues for the same period
in 2013.

For the year ended Dec. 31, 2014, the Company reported net income
available to common stockholders of $282.94 million on $1.14
billion of total operating revenues compared to a net loss
available to common stockholders of $1.23 billion on $999.5 million
of total operating revenues last year.

As of Dec. 31, 2014, the Company had $6.43 billion in total assets,
$4.54 billion in total liabilities, $117.16 million in redeemable
noncontrolling interest and $1.77 billion in total stockholders'
equity.

As previously disclosed, the Company's liquidity as of Dec. 31,
2014, was approximately $553 million, which consisted of cash on
hand plus undrawn capacity on its senior secured revolving credit
facility.

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

                        http://is.gd/oPKtzR

                     Amends Revolving Facility

Halcon Resources entered into the Ninth Amendment to senior
revolving credit agreement by and among the Company, as borrower,
JPMorgan Chase Bank, N.A., as administrative agent, and the other
lenders.  According to a document filed with the SEC, the Amendment
amends the Credit Facility to provide the Company additional
flexibility under the interest coverage test by modifying the
minimum Interest Coverage Ratio to be 2.0 to 1.0 for any fiscal
quarter ending on or before March 31, 2016.

                      About Halcon Resources

Halcon Resources Corporation acquires, produces, explores and
develops onshore liquids-rich assets in the United States.  This
independent energy company operates in the Bakken/Three Forks, El
Halcon and Tuscaloosa Marine Shale formations.

                          *     *      *

As reported by the TCR on Jan. 27, 2015, Moody's Investors Service
downgraded Halcon Resources Corporation's Corporate Family Rating
(CFR) to Caa1 from B3 and the Probability of Default Rating to
Caa1-PD from B3-PD.  The downgrade reflects growing risk for
Halcon's business profile because of high financial leverage and
limited liquidity as its existing hedges roll-off and stop
contributing to its borrowing base over the next 12-18 months.

In the June 30, 2014, Standard & Poor's Ratings Services affirmed
all its ratings, including its 'B' corporate credit rating, on
Houston-based Halcon Resources Corp.


HALCON RESOURCES: Swings to $282.9 Million Net Income in 2014
-------------------------------------------------------------
Halcon Resources Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing net
income available to common stockholders of $283 million on $1.14
billion of total operating revenues for the year ended Dec. 31,
2014, compared to a net loss available to common stockholders of
$1.23 billion on $999.5 million of total operating revenues during
the prior year.

As of Dec. 31, 2014, the Company had $6.43 billion in total assets,
$4.54 billion in total liabilities, $117 million in redeemable
noncontrolling interest and $1.77 billion in total stockholders'
equity.

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

                        http://is.gd/rFE9BE

                       About Halcon Resources

Halcon Resources Corporation acquires, produces, explores and
develops onshore liquids-rich assets in the United States.  This
independent energy company operates in the Bakken/Three Forks, El
Halcon and Tuscaloosa Marine Shale formations.

                          *     *      *

As reported by the TCR on Jan. 27, 2015, Moody's Investors Service
downgraded Halcon Resources Corporation's Corporate Family Rating
(CFR) to Caa1 from B3 and the Probability of Default Rating to
Caa1-PD from B3-PD.  The downgrade reflects growing risk for
Halcon's business profile because of high financial leverage and
limited liquidity as its existing hedges roll-off and stop
contributing to its borrowing base over the next 12-18 months.

In the June 30, 2014, Standard & Poor's Ratings Services affirmed
all its ratings, including its 'B' corporate credit rating, on
Houston-based Halcon Resources Corp.


HANESBRANDS INC: Moody's Says Knights Apparel Deal is Credit Pos.
-----------------------------------------------------------------
Moody's Investors Service stated that Hanesbrands Inc.'s ("Hanes,"
Ba1 stable) Feb. 24, 2015 announcement that it entered into an
agreement to acquire licensed collegiate apparel marketer Knights
Apparel is a credit positive transaction that will meaningfully
strengthen its licensed college apparel business with a modest
impact on financial metrics.  There is no immediate impact on the
Ba1 Corporate Family Rating or stable rating outlook.  The
transaction is valued at approximately $200 million, or about 8
times Knights' expected full-year 2015 adjusted EBITDA.  The
transaction is subject to regulatory approval, and is expected to
close early in the second quarter of 2015.

Headquartered in Winston-Salem, NC, Hanesbrands is a manufacturer
and distributor of basic apparel products under brands that include
Hanes, Champion, Playtex, Bali, L'Eggs, Maidenform and Just My
Size.  Annual revenues are expected to exceed $6 billion pro-formal
for the acquisitions of DB Apparel and Knights Apparel.

The principal methodology used in this rating was the Global
Apparel Companies published in May 2013.  Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.


HEPAR BIOSCIENCE: Lender Agrees to Cash Collateral Use
------------------------------------------------------
Debtor Hepar Bioscience LLC and creditor Northwest Bank agreed in a
stipulation allowing the Debtor to use the cash collateral securing
their prepetition indebtedness from Northwest.

The stipulation follows the Bank's objection to the Debtor's Cash
Collateral Motion, which, according to the Bank, lacked details and
safeguards.

The Debtor is liable to the Bank pursuant to a Promissory Note
dated Sept. 17, 2014, in the initial principal of $19.7 million.
As of Feb. 17, 2015, $19.1 million is due and owing under the
Promissory Note.

In consideration for the Bank's consent to the Debtor's use of the
Cash Collateral, and as adequate protection for any diminution in
the value of the Bank's security interests, the Debtor grants the
Bank: (a) a validly perfected first priority lien on and security
interest in all of the Debtor's postpetition property and their
proceeds; and (b) a super-priority claim that will have priority in
the Debtor's bankruptcy case over all priority claims and unsecured
claims against the Debtor and its estate.

A full-text copy of the Cash Collateral Budget is available at
http://bankrupt.com/misc/HEPARbudget0223.pdf

The Bank is represented by:

         Roger W. Damgaard, Esq.
         WOODS, FULLER, SHULTZ & SMITH P.C.  
         300 South Phillips Avenue, Suite 300
         P.O. Box 5027
         Sioux Falls, SD 57117-5027
         Tel: (605) 336-3890
         Fax: (605) 339-3357
         E-mail:  Roger.Damgaard@woodsfuller.com

            -- and --

         G. Mark Rice, Esq.
         WHITFIELD & EDDY, P.L.C.  
         317 6th Avenue, Suite 1200
         Des Moines, IA 50309
         Tel: (515) 288-6041
         Fax: (515) 246-1474
         E-mail: rice@whitfieldlaw.com

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

                      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.



HERCULES OFFSHORE: S&P Lowers CCR to 'CCC+'; Outlook Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Houston-based Hercules Offshore Inc. to 'CCC+' from
'B-'.  The outlook is negative.

At the same time, S&P lowered its issue-level ratings on the
company's unsecured debt to 'CCC+' from 'B-'.  The recovery rating
on this debt remains '4', indicating S&P's expectation of average
(30% to 50%) recovery to creditors in the event of a payment
default.

"The downgrade reflects our expectation of deteriorating liquidity
over the next year, as well as the company's escalating debt
leverage," said Standard & Poor's credit analyst Stephen Scovotti.

Hercules also faces very weak industry conditions and S&P believes
that the company will face difficulty in re-contracting its rigs,
as well as pricing pressure on its existing contracts.  As a
result, S&P expects credit quality to materially deteriorate and
that debt leverage has become unsustainable under current and
expected market conditions.

S&P assess Hercules' liquidity as "less than adequate."

The negative outlook reflects S&P's expectation that liquidity
could significantly deteriorate over the next 12 months.

S&P could lower the ratings if it felt the company would be unable
to meet its financing obligations such that a default or a
restructuring of the company's debt was viewed as inevitable.

S&P could consider a positive rating action if the company was able
to bring its total debt leverage to more sustainable levels, while
limiting the erosion in liquidity.



HERRING CREEK: Taps Tea Lane Associates as Real Estate Broker
-------------------------------------------------------------
Herring Creek Acquisition Company, LLC, asks the Bankruptcy Court
for permission to employ the firm of Tea Lane Real Estate LLC doing
business as Tea Lane Associates as its real estate broker.

On Jan. 16, 2015, the Debtor filed the Plan of Reorganization which
contemplates a sale to Dream Enterprises, LLC, of certain of the
property owned by the Debtor pursuant to a purchase and sale
agreement.  The property to be sold pursuant to the Plan and the
P&S includes (a) the real property located at 27 Butler's Creek
Road, Edgartown, Massachusetts; and (b) the real property located
at 17, 19, and 23 Butler's Creek Road, Edgartown, Massachusetts.
The agreed purchase price for the Cove House Property is
$14,450,000 and the agreed purchase price for the farm is
$3,500,000.

The Plan also provides for the restructuring of the Debtor's
operations and, except for creditors who have agreed to different
treatment, for the payment of creditors in full.

Prior to the Petition Date, the broker facilitated the sale
contemplated by the P&S in exchange for a commission, one-half of
which is to be paid by the Debtor and one-half by the buyer.

The P&S provides, among other things, that (i) at the closing of
the sale of the Cove House, the Debtor and the buyer will each pay
to the broker the amount of $218,700, which is equal to one-half of
a total broker's fee of $437,400; and (ii) at the closing of the
sale of the farm, the Debtor and the buyer will each pay to the
Broker the amount of $51,200, which is equal to one-half of a total
broker's fee of $102,600.  The broker's fees will be paid only if,
as and when the purchase price for each of the Cove House and Farm
is paid and Buyer accepts and registers the deeds to each parcel,
but not otherwise.

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

                        About Herring Creek

Formed in 1995, Herring Creek Acquisition Co., LLC, owns and
manages several parcels of real property located in Edgartown,
Massachusetts.  Three of the parcels on the Property are rented
and
generate income for Herring Creek.  Robert Hughes, manages the
Property.  Herring Creek was forced to file bankruptcy because New
England Phoenix Co., Inc., a creditor asserting a secured claim,
had scheduled a foreclosure sale for one of the Debtor's parcels of
real property.

Herring Creek filed a Chapter 11 bankruptcy petition (Bankr. D.
Mass. Case No. 14-15309) in Boston on Nov. 12, 2014.  The case is
assigned to Judge William C. Hillman.  Donald Ethan Jeffery, Esq.,
at Murphy & King, in Boston, serves as counsel to the Debtor.

In its amended schedules, the Debtor disclosed $22,311,284 in
assets and $37,360,403 in liabilities.



HORIZON LINES: Stockholders Approve Merger with Matson
------------------------------------------------------
Horizon Lines, Inc., disclosed in a document filed with the
Securities and Exchange Commission that at a special meeting of the
Company's stockholders held on Feb. 25, 2015, the proposal to adopt
the Agreement and Plan of Merger, dated Nov. 11, 2014, with  Matson
Navigation Company, Inc., was approved.

The approval to adopt the Merger Agreement required the affirmative
vote of holders of a majority of the shares of the Company's common
stock outstanding as of the close of business on Jan. 27, 2015, the
record date for the Special Meeting.

The stockholders also approved, on an advisory (non-binding) basis,
certain compensation that will or may become payable by the Company
to its named executive officers in connection with the Merger.

The issued and outstanding shares of Company common stock entitled
to vote at the Special Meeting consisted of 40,540,047 shares.

                       About Horizon Lines

Horizon Lines, Inc., is a domestic ocean shipping company and the
only ocean cargo carrier serving all three noncontiguous domestic
markets of Alaska, Hawaii and Puerto Rico from the continental
United States.  The company owns a fleet of 13 fully Jones Act
qualified vessels and operates five port terminals in Alaska,
Hawaii and Puerto Rico.  A trusted partner for many of the
nation's leading retailers, manufacturers and U.S. government
agencies, Horizon Lines provides reliable transportation services
that leverage its unique combination of ocean transportation and
inland distribution capabilities to deliver goods that are vital
to the prosperity of the markets it serves.  The company is based
in Charlotte, NC, and its stock trades on the over-the-counter
market under the symbol HRZL.

For the year ended Dec. 22, 2013, the Company reported a net loss
of $31.9 million following a net loss of $94.7 million for the
year ended Dec. 23, 2012.

The Company's balance sheet at Sept. 21, 2014, showed $628 million
in total assets, $691 million in total liabilities, and a
$62.2 million total stockholders' deficit.

                           *     *     *

In June 2012, Moody's Investors Service affirmed Horizon Lines'
Corporate Family Rating and Probability of Default Rating at 'Caa2'
and removed the 'LD' ("Limited Default") designation from the
rating in recognition of the conversion to equity of the $228
million of Series A and Series B Convertible Senior Secured notes
due in October 2017 ("Notes").

Moody's said the affirmation of the CFR and PDR considers that
total debt has been reduced by the conversion of the Notes, but
also recognizes the significant operating challenges that the
company continues to face.


ICTS INTERNATIONAL: Spencer Corp. Holds 60% Stake as of Sept. 2
---------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Spencer Corporation and MacPherson Atzmon Family Trust
disclosed that as of Sept. 2, 2014, they beneficially owned
4,847,226 shares of common stock of ICTS International N.V., which
represents 60.3 percent of the shares outstanding.

Mr. Menachem Atzmon, the Chairman of the Board of the Issuer,
disclaims any beneficial interest in the Trust or Spencer
Corporation.

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

                        http://is.gd/gcBZlA

                     About ICTS International

ICTS International N.V. is a public limited liability company
organized under the laws of The Netherlands in 1992.

ICTS specializes in the provision of aviation security and other
aviation services.  Following the taking of its aviation security
business in the United States by the TSA in 2002, ICTS, through
its subsidiary Huntleigh U.S.A. Corporation, engages primarily in
non-security related activities in the USA.

ICTS, through I-SEC International Security B.V., supplies aviation
security services at airports in Europe and the Far East.

In addition, I-SEC Technologies B.V. including its subsidiaries
develops technological systems and solutions for aviation and non?
aviation security.

ICTS International reported a net loss of $3.43 million on $125.7
million of revenue for the year ended Dec. 31, 2013, as compared
with a net loss of $9.01 million on $96.8 million of revenue
during the prior year.  As of June 30, 2014, the Company had $33.2
million in total assets, $76.09 million in total liabilities and a
$42.9 million total shareholders' deficit.

Mayer Hoffman McCann CPAs, in New York, 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 a history of recurring losses from continuing
operations, negative cash flows from operations and a working
capital and shareholders' deficit.  Collectively, these conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


INTELLIPHARMACEUTICS INT'L: Files 2014 20-F, Reports $3.8MM Loss
----------------------------------------------------------------
Intellipharmaceutics International Inc. filed with the U.S.
Securities and Exchange Commission its annual report on Form 20-F
disclosing 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 for the year ended Nov. 30,
2013.

As at Nov. 30, 2014, the Company had $7.87 million in total assets,
$2.96 million in total liabilities and $4.91 million in
shareholders' equity.

Deloitte LLP, in 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 20-F is available for free at:

                        http://is.gd/mpSg7P

Additional information is available for free at:

                        http://is.gd/NjunAB

                      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.


ISAACSON STEEL: Ex-Pres. Pleads Guilty to Conspiracy to Defraud
---------------------------------------------------------------
Barbara Tetreault at Berlindailysun.com reports that Arnold Hanson,
former Isaacson Structural Steel, Inc. president and co-owner, has
pleaded guilty to a federal charge of conspiracy to defraud,
alleging the Company's assets were knowingly overvalued to allow it
to obtain $12 million in bank financing.  The report says that
sentencing is scheduled for May 27, 2015, and that
Mr. Hanson faces up to five years in prison.

According to Berlindailysun.com, Mr. Hanson entered the guilty plea
in the U.S. District Court in Burlington, Vermont, as part of a
plea bargain.  Mr. Hanson took primary responsibility for the
production and operation side of the business, and deferred to the
Company's co-owner and Chief Financial Officer (Steven Griffin)
with regard to the financial side of the business.

Berlindailysun.com states that the U.S. Attorney's office charged
from about 2007 to April 2011, Mr. Hanson "knowingly and willfully
conspired with others to make false statements and reports and
overvalue property and security for the purpose of influencing the
actions of financial institutions . . . by misrepresenting ISSI's
assets".  According to the report, prosecutors alleged the Company
provided false information about the value of work in progress for
a condominium project in Cambridge as well as false information
about inventory.

                  About Isaacson Structural Steel

Based in Berlin, New Hampshire, Isaacson Structural Steel, Inc.,
and affiliate Isaacson Steel, Inc., filed Chapter 11 bankruptcy
petitions (Bankr. D. N.H. Case Nos. 11-12416 and 11-12415) on June
22, 2011.

Isaacson Structural Steel estimated both assets and debts of
$10 million to $50 million.  Isaacson Steel estimated assets and
debt of $1 million to $10 million.  The petitions were signed by
Arnold P. Hanson, Jr., president.

Bankruptcy Judge J. Michael Deasy presides over the cases.
William S. Gannon, Esq., Esq., at William S. Gannon PLLC, in
Manchester, New Hampshire, represents the Debtors as counsel.  The
Debtors retained General Capital Partners, LLC to act as their
investment banker.

An official committee of unsecured creditors has been appointed in
Isaacson Structural Steel's case.  Daniel W. Sklar, Esq., at Nixon
Peabody LLP, in Manchester, represents the Committee.  Mesirow
Financial Consultants also advises the Committee.

As reported by the TCR on Jan. 30, 2015, the Bankruptcy Court
denied the application of Isaacson Steel Liquidating Trust for
final decree closing Isaacson Structural Steel, Inc., et al.'s
Chapter 11 cases, saying that the estates have not been "fully
administered" within the meaning of Section 350(a) of the
Bankruptcy Code and F.R.B.P. Rule 3022 because there are seven
adversary proceedings remain pending before the Court.



ISHARES U.S.: S&P Rates U.S. Fixed Income Balanced Risk ETF 'BB+f'
------------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB+f' fund
credit quality and 'S3' volatility ratings on the iShares U.S.
Fixed Income Balanced Risk ETF.

The fund's investment objective is to generate total return and
capital preservation.  The fund seeks to achieve its investment
objective by investing, under normal circumstances, at least 80% of
its net assets in U.S. dollar-denominated investment-grade and
high-yield fixed-income securities.  The fund primarily invests in
fixed-rate securities of varying maturities, such as corporate
bonds, including U.S. dollar-denominated securities of foreign
issuers, U.S. Treasuries, privately issued securities, and
mortgage-backed securities.  The fund may enter into TBA (to be
announced) transactions on a regular basis with respect to the
percentage of the portfolio (if any) that consists of mortgage-pass
through securities.  The fund may also invest in other
exchange-traded funds (ETFs) (including other iShares funds),
short-term paper, and cash and cash equivalents, including shares
of money market funds advised by BlackRock Fund Advisors (BFA) or
its affiliates.  The iShares U.S. Fixed Income Balanced Risk ETF
seeded on Feb. 24, 2015, and will launch on or around Feb. 26,
2015.

The fund is among more than 220 investment portfolios of the
iShares Trust.  The trust was organized as a Delaware statutory
trust on Dec. 16, 1999, and is authorized to have multiple series
or portfolios.  The trust is an open-end management investment
company registered under the Investment Company Act of 1940 as
amended.  The offering of the trust's shares is registered under
the Securities Act of 1933 as amended.  The shares of the trust are
listed and traded at market prices on national securities
exchanges.

BFA, the fund's investment adviser, is a subsidiary of BlackRock
Inc.  As of Dec. 31, 2014, BlackRock's assets under management
total US$4.652 trillion across equity, fixed income, cash
management, alternative investment, real estate, and advisory
strategies.  State Street Bank & Trust Co. is the administrator,
custodian, and transfer agent for the fund.  BlackRock Investments
LLC, a subsidiary of BlackRock Inc., is the fund's distributor.  

S&P's fund credit quality ratings, identified by the 'f' subscript,
reflect the level of protection the fund provides against losses
from credit defaults.  The credit quality ratings scale ranges from
'AAAf' (extremely strong protection against losses from credit
defaults) to 'CCCf' (extremely vulnerable to losses from credit
defaults).  The ratings from 'AAf' to 'CCCf' may be modified by the
addition of a plus (+) or minus (-) sign to show relative standing
within the major rating categories.

S&P's fund volatility ratings, identified by the 'S' scale, are
based on its current opinion of a fixed-income fund's sensitivity
to changing market conditions, relative to a portfolio made up of
government securities and denominated in the base currency of the
fund.  The volatility ratings are based on a scale from 'S1'
(lowest sensitivity) to 'S6' (highest sensitivity).  Volatility
ratings evaluate sensitivity to factors such as interest rate
movements, credit risk, and liquidity.

S&P will monitor the fund monthly to ensure the consistency of the
credit and volatility profiles with the assigned ratings.



IVANHOE ENERGY: Commences Bankruptcy Proceeding in Canada
---------------------------------------------------------
Law360 reported that Canadian heavy oil producer Ivanhoe Energy
Inc. commenced a bankruptcy proceeding on Feb. 20 in search of a
restructuring option to counter the slumping energy prices that led
it to curtail exploration activities in Ecuador and default on its
debentures.

According to the report, the Vancouver, British Columbia-based
company founded by mining titan Robert Friedland since December has
been working with advisers toward a strategy to boost its
liquidity.  Ivanhoe's filing under Canada's Bankruptcy and
Insolvency Act follows the company's receipt of a notice of default
from bond trustee Bank of New York Mellon Corp after the grace
period on a CA$2.1 million coupon.

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.



JACKSONVILLE BANCORP: James Healey Quits as Director
----------------------------------------------------
James M. Healey delivered to Jacksonville Bancorp, Inc., and its
wholly-owned subsidiary, The Jacksonville Bank, notice of his
resignation from each of the boards of directors of the Company and
the Bank, effective Feb. 24, 2015, according to a document filed
with the Securities and Exchange Commission.  Mr. Healey had served
as a director of the Company and the Bank since 1999.  His
resignation was not due to any disagreement with the Company on any
matter relating to its operations, policies or practices.

                     About Jacksonville Bancorp

Jacksonville Bancorp, Inc., a bank holding company, is the parent
of The Jacksonville Bank, a Florida state-chartered bank focusing
on the Northeast Florida market with eight full-service branches
in Jacksonville, Duval County, Florida, as well as the Company's
virtual branch.  The Jacksonville Bank opened for business on
May 28, 1999, and provides a variety of community banking services
to businesses and individuals in Jacksonville, Florida.

Jacksonville Bancorp reported a net loss available to common
shareholders of $32.4 million in 2013, a net loss available to
common shareholders of $43.04 million in 2012 and a net loss
available to common shareholders of $24.05 million in 2011.

The Company's balance sheet at Sept. 30, 2014, the Company had
$510 million in total assets, $474 million in total
liabilities and $36.3 million in total shareholders' equity.


JASH HOSPITALITY: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Jash Hospitality LLC
        2807 Woodward Ave
        Muscle Shoals, AL 35662

Case No.: 15-80508

Chapter 11 Petition Date: February 26, 2015

Court: United States Bankruptcy Court
       Northern District of Alabama (Decatur)

Judge: Hon. Jack Caddell

Debtor's Counsel: Damon Q. Smith, Esq.
                  DAMON SMITH & ASSOCIATES LLC
                  126 East Tennessee Street
                  Florence, AL 35630
                  Tel: 256 718-2311
                  Fax: 256-718-2377
                  Email: damon@smithbankruptcy.com

Total Assets: $1.20 million

Total Liabilities: $1.54 million

The petition was signed by Jayeshkumar Patel, president.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb15-80508.pdf


KENSTAR CONSTRUCTION: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Kenstar Construction Corp.
        100 Keyland Court
        Bohemia, NY 11716

Case No.: 15-10466

Chapter 11 Petition Date: February 27, 2015

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

Judge: Hon. Shelley C. Chapman

Debtor's Counsel: Dawn Kirby Arnold, Esq.
                  DELBELLO DONNELLAN WEINGARTEN WISE &
                  WIEDERKEHR, LLP
                  One North Lexington Avenue
                  White Plains, NY 10601
                  Tel: (914) 681-0200
                  Fax: 914-681-0288
                  Email: dkirby@ddw-law.com

Total Assets: $1.09 million

Total Liabilities: $14.86 million

The petition was signed by Kenneth Swany, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb15-10466.pdf


KINDRED HEALTHCARE: S&P Raises Rating on Secured Debt to 'BB-'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating on
Kindred Healthcare Inc.'s secured debt to 'BB-' from 'B+' and
revised the recovery rating on the debt to '2' from '4'.  At the
same time, S&P removed the issue-level rating from CreditWatch,
where it placed it with positive implications on Dec. 8, 2014.

The upgrade reflects improved recovery prospects following the
close of the Gentiva acquisition in early February, as the secured
debt represents a significantly smaller proportion of total company
debt than under the prior capital structure.  The additional
potential EBITDA value associated with Gentiva also strengthens
recovery prospects.  S&P's corporate credit rating of 'B+' is
unchanged.  S&P's stable outlook reflects its expectation that the
company will gradually reduce debt leverage over the next two
years.

The business risk is still characterized by substantial scale (2014
revenues of about $7.2 billion, pro forma for Gentiva).  The
company also has meaningful diversification across the continuum of
post-acute care services, which supports our assessment of a "weak"
business risk profile.  S&P still expects the company to generally
operate with leverage in the 4x to 5x range over the longer term.
This is despite S&P's expectation that adjusted leverage is
currently above 5x.

RATINGS LIST

Kindred Healthcare Inc.
Corporate Credit Rating       B+/Stable/--

Upgraded; Ratings Removed From CreditWatch; Recovery Ratings
Revised
                               To           From
Kindred Healthcare Inc.
Senior Secured                BB-          B+/Watch Pos
   Recovery Rating             2            4



LA CONTESSA: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: La Contessa Inc.
        800 Fifth Avenue, Apt. 14E
        New York, NY 10065

Case No.: 15-10414

Chapter 11 Petition Date: February 25, 2015

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

Judge: Hon. Robert E. Gerber

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

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Thom Priano, vice president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb15-10414.pdf


LATTICE SEMICONDUCTOR: Moody's Assigns 'Ba3' CFR, Outlook Stable
----------------------------------------------------------------
Moody's Investors Service assigned ratings to Lattice Semiconductor
Corp. -- Corporate Family Rating of Ba3, Probability of Default
Rating of Ba3-PD, and Senior Secured Term Loan rating of Ba3.  The
rating outlook is stable.

Lattice will use the proceeds of the $350 million Senior Secured
Term Loan and balance sheet cash of both Lattice and Silicon Image,
Inc to fund the acquisition of Silicon Image for about $603 million
plus about $28 million of transaction fees.

The Ba3 CFR reflects relatively stable free cash flow due to
Lattice's fabless operating model, and moderate starting leverage
of about 4x debt to EBITDA (Moody's adjusted, proforma for the
Silicon Image acquisition), which is appropriate given Lattice's
small scale as a niche player in the programmable logic segment of
the semiconductor market.  The rating also reflects the valuable
intellectual property portfolio of Silicon Image that generates a
substantial high margin licensing revenue stream of nearly $60
million annually, which adds to the predictability of FCF.
Nevertheless, Lattice faces significant integration execution
risks, as the Silicon Image acquisition will nearly double
Lattice's revenue base and the efforts to achieve cost synergies,
particularly in research and development, could erode the combined
company's strength in intellectual property.  Moreover, the small
scale of operations leads to both volatile revenues and customer
concentrations, particularly in the consumer segment, which limits
Lattice's negotiating leverage.

The Ba3 rating of the Senior Secured Term Loan, at the same level
as the CFR, reflects the single class of debt, the absence of
financial maintenance covenants, and the limited cushion of
subordinated liabilities in the capital structure.  The Speculative
Grade Liquidity rating of SGL-2 reflects Lattice's good liquidity,
which is supported by consistent FCF due to the fabless
manufacturing model and the moderate product life cycles outside of
the consumer segment and the cash balance, which Moody's expect to
remain above $150 million.

The stable outlook reflects our expectation that Silicon Image will
be integrated into Lattice without any significant operational
disruption.  Moody's expect that the combined company will generate
flat to slightly declining revenues over the near term, with
product ramps yielding top line revenue growth by early 2016.
Moody's expect that Lattice will generate FCF of at least $80
million over the next year.  Through outright debt reduction and
EBITDA growth, Moody's expect debt to EBITDA (Moody's adjusted) to
decline to below 3x over the next 12 to 18 months.

A ratings upgrade is unlikely over the next year due to the
integration risks and anticipated revenue decline.  Over the
intermediate term, the ratings could be upgraded if Lattice
successfully integrates Silicon Image.  Moody's would expect that
the combined company would demonstrate lower revenue volatility
proving the complementary nature of the two companies' product
lines (field programmable gate arrays and application specific
standard products).  Moody's would also expect Lattice to reduce
leverage through both absolute debt reduction and EBITDA growth
such that debt to EBITDA (Moody's adjusted) declines to below 2x on
a sustained basis.

The ratings could be downgraded if Moody's believe that Lattice is
not on-course to reduce leverage to below 3.5x over the next 12 to
18 months.  The ratings could also be downgraded if Lattice
encounters material difficulty in integrating Silicon Image, such
that revenues decline by 10% or more or operating margins decline
to the mid single digits percent.

Lattice, based in Hillsboro, Oregon, makes low power, small form
factor, low cost programmable logic devices for the consumer
electronics, communications, and industrial end markets.

Assignments:

Issuer: Lattice Semiconductor Corporation

  -- Corporate Family Rating, Assigned Ba3

  -- Probability of Default Rating, Assigned Ba3-PD

  -- Speculative Grade Liquidity Rating, Assigned SGL-2

  -- Senior Secured Bank Credit Facility (Local Currency),
     Assigned Ba3, LGD3

Outlook Actions:

Issuer: Lattice Semiconductor Corporation

  -- Outlook, Assigned Stable

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


LEAR CORP: S&P Revises Outlook to Positive & Affirms 'BB+' CCR
--------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Southfield, Mich.-based Lear Corp. to positive from stable.  At the
same time, S&P affirmed the ratings, including the 'BB+' corporate
credit rating.

In addition, S&P affirmed the 'BBB' issue-level ratings on Lear
Corp.'s $1.25 billion revolving credit facility and $500 million
term loan are affirmed.  The recovery rating remains '1',
indicating S&P's expectation that lenders will receive a very high
(90%-100%) recovery in the event of a default.

S&P also affirmed the 'BB' issue-level ratings on the company's
senior unsecured notes.  The recovery rating remains '5',
indicating S&P's expectation that lenders will receive a modest
(10%-30%) recovery in the event of a default.

"The outlook revision to positive reflects our expectation for at
least a one-in-three chance of an upgrade of Lear Corp. during the
next 12 months," said Standard & Poor's credit analyst Lawrence
Orlowski.

Lear's sales in 2014 rose 9%, above the increase in global
light-vehicle production.  Core operating earnings were up 25%,
reflecting an adjusted operating margin expansion of 70 basis
points.  The company generated $503 million in free cash flow,
above the company's previous guidance of $475 million for 2014. The
improvement in financial performance reflects Lear's ability to use
its global footprint to increase revenue and boost margins by
operational efficiencies, vertical integration, and technology
investment.

The outlook is positive.  S&P assumes that Lear will generate close
to $600 million in reported FOCF in 2015, maintaining a ratio of
FOCF to debt of more than 15%.  In addition, S&P assumes adjusted
debt to EBITDA will remain comfortably less than 3x, and cash
balances will remain substantial.

S&P could revise the outlook back to stable if the company
increased its leverage substantially or used cash to fund a large
acquisition or engage in shareholder actions that S&P would deem as
excessive.  S&P could also revise the outlook to stable if market
share or global vehicle demand declines and the ratio of FOCF to
debt approaches 15% or leverage approaches 3x on a sustained basis.
This could occur if 2015 revenue declined 15% or more from 2014
levels and gross margins fell below 8%.

To raise the rating to investment grade, S&P would expect the
company to continue to improve its competitive position by
market-share gains, ongoing operation efficiencies, and product
innovation, and, consequently, S&P came to believe its adjusted
EBITDA margins would reach 9%.  S&P would also expect Lear to
successfully integrate Eagle Ottawa into its operations and realize
anticipated synergies.



LEVEL 3: Swings to $314 Million Net Income in 2014
--------------------------------------------------
Level 3 Communciations, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing net
income of $314 million on $6.77 billion of revenue for the year
ended Dec. 31, 2014, compared to a net loss of $109 million on
$6.31 billion of revenue during the prior year.

As of Dec. 31, 2014, Level 3 had $20.94 billion in total assets,
$14.6 billion in total liabilities and $6.36 billion in total
stockholders' equity.

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

                        http://is.gd/e3r3n7

                    About Level 3 Communications

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

                           *     *     *

In June 2014, Fitch Ratings upgraded the Issuer Default Rating
(IDR) assigned to Level 3 Communications, Inc. (LVLT) and its
wholly owned subsidiary Level 3 Financing, Inc. (Level 3
Financing) to 'B+' from 'B'.

"The upgrade of LVLT's ratings is supported by the continued
strengthening of the company's credit profile since the close of
the Global Crossing Limited (GLBC) acquisition, positive operating
momentum evidenced by expanding gross and EBITDA margins, and
ongoing revenue growth within the company's Core Network Services
(CNS) segment and its position to generate meaning FCF," Fitch
stated.

In June 2013, Standard & Poor's Ratings Services raised its
corporate credit rating on Level 3 to 'B' from 'B-'.  "The upgrade
reflects improved debt leverage, initially from the acquisition of
the lower-leveraged Global Crossing in October 2011, and
subsequently from realization of the bulk of what the company
expects to eventually be $300 million of annual operating
synergies," said Standard & Poor's credit analyst Richard
Siderman.

As reported by the TCR on Oct. 31, 2014, Moody's Investors Service
upgraded Level 3's corporate family rating (CFR) to 'B2' from
'B3'.

Level 3's B2 CFR is based on the company's ability to generate
relatively modest free cash flow of between $250 million and $300
million in 2016 and, inclusive of debt which is presumed to be
converted to equity in 2015, to de-lever by approximately 0.5x to
4.8x (Moody's adjusted) by the end of 2016.


LIGHT HOUSE: Files for Ch 7; Sec. 341(a) Meeting Set for April 6
----------------------------------------------------------------
Aaron Gregg at The Washington Post reports that Light House
Communications Corp. filed for Chapter 7 liquidation (Bankr. D. Ma.
Case No. 15-11817) on Feb. 9, 2015, estimating assets between
$50,001 and $100,000 and liabilities between $500,001 and $1
million.

John C. Hanrahan, Esq., at the Law Offices of John C. Hanrahan,
LLC, serves as the Company's bankruptcy counsel.

Judge Thomas J. Catliota presides over the case.

A Sec. 341(a) meeting will be held on April 6, 2015, at 9:30 a.m.
at 341 meeting room at Hagerstown City Hall.  Steven H. Greenfeld
is appointed as interim trustee.

Light House Communications Corp. is headquartered in Frederick,
Maryland.


LIQUIDMETAL TECHNOLOGIES: Issues $2MM Note to City National Bank
----------------------------------------------------------------
Liquidmetal Technologies, Inc., on Feb. 24, 2015, issued a
revolving note in favor of City National Bank, a national banking
association, evidencing a revolving line of credit of up to $2
million, with a maturity date of Feb. 13, 2016, with renewability
on an annual basis, and executed a Security Agreement in favor of
City.  The Company intends to use the revolving line of credit
provided by City to finance capital and other expenditures,
according to a document filed with the Securities and Exchange
Commission.

Interest accrues on outstanding borrowings under the Revolving Note
at a rate of 2.1% per annum.  The Company will make monthly
payments of accrued interest under the Revolving Note until the
Maturity Date, at which point the Company is required to pay all
outstanding borrowings and accrued but unpaid interest due to City
under the Revolving Note.  The Company has the right to borrow any
portion of the Principal Amount and to repay outstanding borrowings
and accrued interest under the Revolving Note, in whole or in part,
in each case at any time before the Maturity Date and without
penalty or premium, provided that the Company's outstanding
borrowings under the Revolving Note may not exceed the Principal
Amount at any time.

The Company's obligations under the Revolving Note are secured by a
security interest in the Company's certificate of deposit account
with City pursuant to the Security Agreement.  The Company's
obligations may be accelerated and City's commitments may be
terminated upon the occurrence of an event of default under the
Revolving Note, including payment defaults, bankruptcy and
insolvency related defaults, cross defaults to other obligations,
defaults related to inaccuracy of representations and warranties,
including those under the Security Agreement, defaults in the
performance of covenants under the Security Agreement and other
customary events of default.

                  About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal reported a net loss and comprehensive loss of $14.2
million on $1.02 million of total revenue for the year ended
Dec. 31, 2013, as compared with a net loss and comprehensive loss
of $14.02 million on $650,000 of total revenue for the year ended
Dec. 31, 2012.

The Company's balance sheet at Sept. 30, 2014, showed $14.2 million
in total assets, $6.86 million in total liabilities and $7.34
million in total stockholders' equity.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit.  This raises substantial doubt about
the Company's ability to continue as a going concern.


LIQUIDMETAL TECHNOLOGIES: Visser Precision Owns 9.1% of A Shares
----------------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Barney D. Visser, Furniture Row, LLC, and
Visser Precision Cast, LLC disclosed that as of Feb. 23, 2015, they
beneficially owned 44,164,479 shares of Class A Common Stock
of Liquidmetal Technologies, Inc., which represents 9.1 percent of
the shares outstanding.  The ownership percentage is based on the
Issuer having a total of 464,482,819 shares of outstanding Common
Stock, as disclosed in the Issuer’s Form 10-Q dated Nov. 12,
2014.

On Feb. 23, 2015, Norden, LLC sold 5,458,244 shares of Common Stock
at an average price of $0.1625 per share in market transactions.

On Feb. 23, 24 and 25, 2015, VPC sold 541,756 shares of Common
Stock at an average price of $0.1625 per share, 1,907,615 shares of
Common Stock at an average price of $0.177 per share, and 866,738
shares of Common Stock at an average price of $0.1646 per share,
respectively.  On Feb. 26, 2015, VPC sold 225,647 shares of Common
Stock at an average price of $0.1612 per share.  All sales were
made in market transactions.  

After giving effect to those sales, Norden owns no shares of Common
Stock of the Company.

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

                       http://is.gd/EKuLsP

                   About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal reported a net loss and comprehensive loss of $14.2
million on $1.02 million of total revenue for the year ended
Dec. 31, 2013, as compared with a net loss and comprehensive loss
of $14.02 million on $650,000 of total revenue for the year ended
Dec. 31, 2012.

The Company's balance sheet at Sept. 30, 2014, showed $14.2 million
in total assets, $6.86 million in total liabilities and $7.34
million in total stockholders' equity.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit.  This raises substantial doubt about
the Company's ability to continue as a going concern.


LITEFLEX LLC: Overseas Sales May Boost Market Share, Report Says
----------------------------------------------------------------
Joe Cogliano at the Dayton Business Journal reports that Liteflex,
LLC, is increasing its exports.

The Business Journal relates that the Company has been working to
turn itself around since filing for Chapter 11 bankruptcy in 2013.
According to Business Journal, the new sales in overseas markets
may be the foot-in-the-door the Company needs to substantially grow
its market share.

The Business Journal states that the Company will start shipping
its composite springs used in vehicle suspensions to Hyundai in
South Korea.  Citing the Company's sales manager, Bob Bauerle, the
report says that about 15,000 springs will be sent to Hyundai this
year and that number should double annually by end of 2017.  The
report recalls that the Company made its first significant shipment
-- a full sea container -- of springs to Fiat in Italy.  The
Company, according to the report, has also been sending small
orders to Fiat since it began production on a new platform in April
2014, but with this latest shipment that number will grow to about
10,000 springs per year.

                       About Liteflex, LLC

Headquartered in Englewood, Ohio, Liteflex, LLC, filed for Chapter
11 (Bankr. S.D. Ohio Case No. 13-33232) on Aug. 6, 2013, estimating
assets between $1 million and $10 million, and
debt between $1 million and $10 million.  The petition was signed
by John Prikkel, III, sole member.

Judge Lawrence S. Walter presides over the case.

Denis E. Blasius, Esq., and Ira H. Thomsen, Esq., at the Law
Offices of Ira H. Thomsen, serve as the Company's bankruptcy
counsel.



MARIA FREEMAN: Plaza to Be Auctioned Off in May
-----------------------------------------------
Larry Barszewski at Sun Sentinel reports that Maria Freeman's Sixth
Street Plaza project at Sistrunk and Northwest Ninth Avenue that
got more than a million dollars from the city of Fort Lauderdale,
Florida, is scheduled to be auctioned off in May 2015.

Sun Sentinel relates that Regents Bank foreclosed on the property
in 2014 and is trying to recoup $2.1 million, including the $50,344
it paid to cover the 2013 property taxes.  The report adds that the
plaza is appraised at $1.9 million on Broward County property
records, and has about $3 million in unpaid loans and other debt.

Ms. Freeman, the project's developer, blamed a "lack of tenants"
for her inability to meet her mortgage and tax bills, Sun Sentinel
states.

According to Sun Sentinel, the city could lose all of the almost
$700,000 it loaned the project, while the South Florida Regional
Planning Council could lose the $300,000 it loaned the project.

Ms. Freeman, Sun Sentinel reports, said that she is still pursuing
additional tenants for the plaza.  According to the report, the
corner two-story building has two tenants -- Quik Clinic Medical
Center and 3rd Step Recovery Group, both which list Ms. Freeman as
president.

Maria Freeman filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Fla. Case No. 13-10017) on Jan. 2, 2013.


MARKWEST ENERGY: S&P Retains 'BB' Rating After Sr. Notes Add-on
---------------------------------------------------------------
Standard & Poor's Rating Services said it left its 'BB' issue-level
rating and '4' recovery rating unchanged on MarkWest Energy
Partners L.P.'s and MarkWest Energy Finance Corp.'s $500 million
4.875% senior unsecured notes due 2024 after the companies
announced they proposed to make an add-on of $500 million to the
issue.

The recovery rating of '4' indicates S&P's expectation of average
(30% to 50%; upper half of the range) recovery if a payment default
occurs.  The partnership intends to use net proceeds to repay
amounts outstanding on its revolving credit facility, to fund
capital spending, and for general partnership purposes.

As of Dec. 31, 2014, MarkWest had about $4 billion of balance-sheet
debt, pro forma for the proposed add-on.

Denver-based MarkWest is a midstream energy partnership that
specializes in natural gas gathering and processing, and the
fractionation of natural gas liquids.  S&P's corporate credit
rating on MarkWest is 'BB', and the outlook is stable.

RATINGS LIST

MarkWest Energy Partners L.P.
Corp credit rating                     BB/Stable/--

Ratings Unchanged
MarkWest Energy Partners L.P.
MarkWest Energy Finance Corp.
$1 bil 4.875% senior unsecured notes due 2024    BB
Recovery rating                                   4



MAUI LAND: Auditors Express Going Concern Doubt
-----------------------------------------------
Maui Land & Pineapple Company, Inc., filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
net income of $17.63 million on $33 million of total operating
revenues for the year ended Dec. 31, 2014, compared with a net loss
of $1.16 million on $15.2 million of total operating revenues in
2013.

As of Dec. 31, 2014, the Company had $49.3 million in total assets,
$64.5 million in total liabilities and a $15.2 million
stockholders' deficiency.

Accuity LLP, in Honolulu, Hawaii, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014.

                             Liquidity

"The Company had outstanding borrowings under two credit facilities
totaling $50.2 million as of Dec. 31, 2014.  The Company has
pledged a significant portion of its real estate holdings as
security for borrowings under its credit facilities, limiting its
ability to borrow additional funds.  Both credit facilities mature
on Aug. 1, 2016.

Absent the sale of some of its real estate holdings, refinancing,
or extending the maturity date of its credit facilities, the
Company does not expect to be able to repay its outstanding
borrowings on the maturity date.

The credit facilities have covenants requiring among other things,
a minimum of $3 million in liquidity (as defined), a maximum of
$175 million in total liabilities, and a limitation on new
indebtedness.  The Company's ability to continue to borrow under
its credit facilities to fund its ongoing operations and meet its
commitments depends upon its ability to comply with its covenants.
If the Company fails to satisfy any of its loan covenants, each
lender may elect to accelerate its payment obligations under such
lender's credit agreement.

The Company's cash outlook for the next twelve months and its
ability to continue to meet its loan covenants is highly dependent
on selling certain real estate assets at acceptable prices.  If the
Company is unable to meet its loan covenants, borrowings under its
credit facilities may become immediately due, and it would not have
sufficient liquidity to repay such outstanding borrowings.

The Company's credit facilities require that a portion of the
proceeds received from the sale of any real estate assets be repaid
toward its loans.  The amount of proceeds paid to its lenders will
reduce the net sale proceeds available for operating cash flow
purposes.

The aforementioned circumstances raise substantial doubt about the
Company's ability to continue as a going concern."

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

                        http://is.gd/6ifnPy

                 About Maui Land & Pineapple Co.

Maui Land & Pineapple Company, Inc. (NYSE: MLP) --
http://mauiland.com/-- develops, sells, and manages residential,
resort, commercial, and industrial real estate.  The Company owns
approximately 23,000 acres of land on Maui and operates retail,
utility operations, and a nature preserve at the Kapalua Resort.
The Company's principal subsidiary is Kapalua Land Company, Ltd.,
the operator and developer of Kapalua Resort, a master-planned
community in West Maui.


MERRIMACK PHARMACEUTICALS: Incurs $83.5 Million Net Loss in 2014
----------------------------------------------------------------
Merrimack Pharmaceuticals, Inc. filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $83.6 million on $102.8 million of collaboration revenues
for the year ended Dec. 31, 2014, compared to a net loss of $130.7
million on $47.8 million of collaboration revenues during the prior
year.

As of Dec. 31, 2014, Merrimack had $159 million in total assets,
$261 million in total liabilities, $69,000 in non-controlling
interest, and a $102.1 million total stockholders' deficit.

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

                       http://is.gd/48Ya5S

                         About Merrimack

Cambridge, Mass.-based Merrimack Pharmaceuticals, Inc., a
biopharmaceutical company discovering, developing and preparing to
commercialize innovative medicines consisting of novel
therapeutics paired with companion diagnostics.  The Company's
initial focus is in the field of oncology.  The Company has five
programs in clinical development.  In it most advanced program,
the Company is conducting a pivotal Phase 3 clinical trial.


MERRIMACK PHARMACEUTICALS: Posts $9.5 Million Net Loss for Q4
-------------------------------------------------------------
Merrimack Pharmaceuticals, Inc., reported a net loss of $9.47
million on $33.9 million of collaboration revenues for the three
months ended Dec. 31, 2014, compared to a net loss of $32.3 million
on $7.82 million of collaboration revenues for the same period in
2013.

For the year ended Dec. 31, 2014, Merrimack reported a net loss of
$83.6 million on $102.8 million of collaboration revenues compared
to a net loss of $131 million on $47.8 million of collaboration
revenues last year.

As of Dec. 31, 2014, the Company had $159 million in total assets,
$261 million in total liabilities and a $102.1 million total
stockholders' deficit.

Merrimack expects to be able to fund operations into 2016 through
its unrestricted cash and cash equivalents and available-for-sale
securities of $124 million as of Dec. 31, 2014, anticipated cost
sharing reimbursements from Baxter and the anticipated receipt of
$66.5 million of net milestones related to MM-398 from Baxter in
2015, after offsetting payments to PharmaEngine.  Any payments
received from additional business development would further extend
Merrimack's cash runway.

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

                        http://is.gd/VfBz57

                          About Merrimack

Cambridge, Mass.-based Merrimack Pharmaceuticals, Inc., a
biopharmaceutical company discovering, developing and preparing to
commercialize innovative medicines consisting of novel
therapeutics paired with companion diagnostics.  The Company's
initial focus is in the field of oncology.  The Company has five
programs in clinical development.  In it most advanced program,
the Company is conducting a pivotal Phase 3 clinical trial.

Merrimack reported a net loss of $130.7 million in 2013, a net
loss of $91.8 million in 2012 and a net loss of $79.7 million in
2011.


MERRIMACK PHARMACEUTICALS: To Issue 3.7MM Shares Under Stock Plan
-----------------------------------------------------------------
Merrimack Pharmaceuticals, Inc. filed with the Securities and
Exchange Commission a Form S-8 registration statement to register
3,734,396 shares of common stock to be issued under the Company's
2011 Stock Incentive Plan.  The proposed maximum aggregate offering
price is $40 million.  A copy of the prospectus is available for
free at http://is.gd/rvMUxh

                           About Merrimack

Cambridge, Mass.-based Merrimack Pharmaceuticals, Inc., a
biopharmaceutical company discovering, developing and preparing to
commercialize innovative medicines consisting of novel
therapeutics paired with companion diagnostics.  The Company's
initial focus is in the field of oncology.  The Company has five
programs in clinical development.  In it most advanced program,
the Company is conducting a pivotal Phase 3 clinical trial.

Merrimack reported a net loss of $83.6 million in 2014 compared to
a net loss of $131 million in 2013.  As of Dec. 31, 2014, Merrimack
had $159 million in total assets, $261 million in total
liabilities, $69,000 in non-controlling interest, and a $102.1
million total stockholders' deficit.


METALICO INC: Sets March 13 Call for 2014 and 4th Quarter Review
----------------------------------------------------------------
Metalico, Inc., will host a conference call on Friday, March 13,
2015, at 10:00 a.m. ET to discuss its earnings results for the year
and quarter ended Dec. 31, 2014, and to provide an update on
business developments.  The Company is scheduled to release its
results earlier that day.

The conference call can be accessed by dialing (800) 446-1671 (toll
free) or (847) 413-3362 (toll), Conference Confirmation Number
39085033.  Callers should identify the Metalico Fiscal Year 2014
results call.

A transcript of the call will be posted on the Company's Web site,
www.metalico.com, when available.  An audio replay of the call will
be accessible at (888) 843-7419 (toll free) or (630) 652-3042
(toll) for the first week after the call's conclusion.  Callers
will be required to enter the Conference Confirmation Number to
access the recording.

Contact: Metalico, Inc.

  Carlos E. Aguero
  Michael J. Drury
  info@metalico.com
  186 North Avenue East
  Cranford, NJ 07016
  Tel: (908) 497-9610
  Fax: (908) 497-1097
  Web site: http://www.metalico.com

                           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.


MIG LLC: Seeks April 28 Extension of Plan Filing Date
-----------------------------------------------------
MIG, LLC, and ITC Cellular, LLC, filed with the U.S. Bankruptcy
Court for the District of Delaware a second motion seeking
extension of the period during which they have the exclusive right
to file a Chapter 11 plan through and including April 28, 2015, and
the period during which they have the exclusive right to solicit
acceptances of the plan through and including June 29, 2015.

The Debtors further ask that, if they and their constituents
determine that the second extension is needed, and no objection to
the second extension is filed with the Court by April 21, the
exclusive plan filing period be extended through and including June
29, and the exclusive solicitation period be extended through and
including Aug. 28.

Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, in Wilmington,
Delaware, relates that since the entry of the first exclusivity
order, the Debtors have continued to work diligently and
cooperatively with the Official Committee of Unsecured Creditors
and the Indenture Trustee to determine the appropriate resolution
to the bankruptcy proceedings.  While the Debtors, the Committee
and the Indenture Trustee have made progress in determining the
best course of action, and are still having active negotiations,
the Debtors believe that more time is needed to determine and
assess the various issues presented and decide the most effective
way of achieving the appropriate resolution of the Chapter 11
cases, Mr. Meloro tells the Court.

The Debtors are also represented by Nancy A. Mitchell, Esq., and
Maria J. DiConza, Esq., at Greenberg Traurig, LLP, in New York.

                          About MIG LLC

Formerly operating under the name "Metromedia International Group,
Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and   
operated and sold dozens of companies in diverse industries,
including entertainment, photo finishing, garden equipment and
sporting goods, until the late 1990s.  In 1997 and 1998, MIG
consummated the sale of substantially all of its U.S.-based
entertainment assets and began focusing on expanding into emerging
communications and media businesses.  By 2005, all of MIG's
operating businesses were located in the Republic of Georgia and
operated through its subsidiaries.

MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11
bankruptcy protection on June 30, 2014.  The cases are currently
jointly administered under Bankr. D. Del. Lead Case No. 14-11605.
As of the bankruptcy filing, MIG's sole valuable asset, beyond its
existing cash, is its indirect interest in Magticom Ltd.  The
cases are assigned to Judge Kevin Gross.  MIG LLC disclosed
$15.9 million in assets and $253.7 million in liabilities.

Headquartered in Tbilisi, Georgia, Magticom is the leading mobile
telephony operator in Georgia and is also the largest telephone
operator in Georgia.  Magticom serves 2.4 million subscribers with
a network that covers 97% of the populated regions in Georgia.
Magticom is owned by International Telcell Cellular, LLC, which is
46% owned by MIG unit ITC Cellular, 51% owned by Dr. George
Jokhtaberidze, and 3% owned by Gemstone Management Ltd.

Formerly known as MIG, Inc., MIG was a debtor in a previous case
(Bankr. D. Del. Case NO. 09-12118).  It obtained approval of its
reorganization plan in November 2010.

The Debtors have tapped Greenberg Traurig LLP as counsel, Fox
Rothschild Inc. as financial advisor; Cousins Chipman and Brown,
LLP as conflicts counsel; and Prime Clerk LLC as claims and notice
agent and administrative advisor.  The Debtors have retained
Natalia Alexeeva as chief restructuring officer.

A three-member panel has been appointed in these cases to serve as
the official committee of unsecured creditors, consisting of
Walter M. Grant, Paul N. Kiel, and Lawrence P. Klamon.


MISSION NEWENERGY: Executive Directors OK Escrow of 15MM Shares
---------------------------------------------------------------
Mission NewEnergy Limited announced that ahead of its half yearly
financial results to be released Feb. 27, 2015, Executive Directors
have agreed to a 12 month voluntary escrow of all 15,000,000 shares
issued to them on Feb. 19, 2015, as per Shareholder approval
received in October 2014.

"With the recent completion of the company transformation as
announced on 19 February 2015 the Executive Directors are confident
in the business and are demonstrating strong continued commitment
to the company with this voluntary escrow," said Nathan Mahalingam,
chief executive officer Mission NewEnergy.

                      About Mission NewEnergy

Based in Subiaco, Western Australia, Mission NewEnergy Limited is
a producer of biodiesel that integrates sustainable biodiesel
feedstock cultivation, biodiesel production and wholesale
biodiesel distribution focused on the government mandated markets
of the United States and Europe.

The Company is not operating its biodiesel refining segment.  The
refineries are being held in care and maintenance either awaiting
a return to positive operating conditions or the sale of assets.

The Company has materially diminished its Jatropha contract
farming operation and the company is now focused on divesting the
remaining Indian assets.  The Company intends to cease all Indian
operations.

Mission NewEnergy reported a net loss of $1.09 million on $9.68
million of total revenue for the year ended June 30, 2014,
compared to net income of $10.05 million on $8.41 million of total
revenue during the prior year.

The Company's balance sheet at June 30, 2014, showed $4.04 million
in total assets, $15.40 million in total liabilities and a $11.35
million total deficiency.

BDO Audit (WA) Pty Ltd, in Perth, Western Australia, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company incurred operating cash outflows
of $3.7 million during the year ended 30 June 2013 and, as of that
date the consolidated entity's total liability exceeded its total
assets by $12.5 million.  These conditions, along with other
matters, raise substantial doubt the Company's ability to continue
as a going concern.


MISSION NEWENERGY: Posts $28.6 Million Profit for H2 of 2014
------------------------------------------------------------
Mission NewEnergy Ltd reported profit of $28.7 million on $688,000
of total revenue for the six months ended Dec. 31, 2014, compared
to profit of $3.58 million on $10.4 million of total revenue for
the six months ended Dec. 31, 2013.  As at Dec. 31, 2014, Mission
NewEnergy had $29.7 million in total assets, $16.2 million in total
liabilities and $13.5 million in net assets.
A full-text copy of the Report is available for free at:

                        http://is.gd/rrTkjE

                      About Mission NewEnergy

Based in Subiaco, Western Australia, Mission NewEnergy Limited is
a producer of biodiesel that integrates sustainable biodiesel
feedstock cultivation, biodiesel production and wholesale
biodiesel distribution focused on the government mandated markets
of the United States and Europe.

The Company is not operating its biodiesel refining segment. The
refineries are being held in care and maintenance either awaiting
a return to positive operating conditions or the sale of assets.

The Company has materially diminished its Jatropha contract
farming operation and the company is now focused on divesting the
remaining Indian assets. The Company intends to cease all Indian
operations.

Mission NewEnergy reported a net loss of $1.09 million on $9.68
million of total revenue for the year ended June 30, 2014,
compared to net income of $10.05 million on $8.41 million of total
revenue during the prior year.

BDO Audit (WA) Pty Ltd, in Perth, Western Australia, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013. The independent
auditors noted that the Company incurred operating cash outflows
of $3.7 million during the year ended 30 June 2013 and, as of that
date the consolidated entity's total liability exceeded its total
assets by $12.5 million. These conditions, along with other
matters, raise substantial doubt the Company's ability to continue
as a going concern.


MOMENTIVE PERFORMANCE: Apollo Atty Says Ruling Aids Private Equity
------------------------------------------------------------------
Laura J Keller, writing for Bloomberg News, reported that Ira
Dizengoff, a partner at Akin Gump Strauss Hauer & Feld LLP, who
represented Apollo Global Management LLC in the Momentive
Performance Materials Inc. bankruptcy said the judge’s ruling in
that case will let private-equity firms negotiate more aggressively
with creditors.

According to the report, Apollo, which owned Momentive, was allowed
to impose a reorganization plan on the chemical company's senior
secured creditors that gave them new notes for the full amount of
their debt at lower-than-market interest rates.  U.S. Bankruptcy
Judge Robert D. Drain also denied them so-called make-whole
payments, which compensate bondholders for early redemption of
their notes, the report related.

The precedent will allow private-equity owners to push secured
creditors to accept less favorable terms than they might otherwise
seek, using the threat of the cramdown ruling, Mr. Dizengoff told
Bloomberg.

Law360 reported that attorneys at a Turnaround Management
Association Conference in Las Vegas said intense competition among
corporate lenders to put money to work has prevented them from
negotiating for the right to collect make-whole premiums when
borrowers later refinance under bankruptcy protection.  According
to the report, bond creditors are not obtaining contractual rights
to make-whole premiums in Chapter 11 in the current environment
where competitors are willing -- sometimes eager -- to lend without
those protections in place, according to the panelists at the
conference.

                   About Momentive Performance

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

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

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

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

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

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

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

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

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

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

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

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

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

                        *     *     *

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

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


MOUNTAIN PROVINCE: Offering Proceeds to Fund Overrun Facility
-------------------------------------------------------------
Mountain Province Diamonds Inc. disclosed in a document filed with
the Securities and Exchange Commission that it is undertaking a
C$95M rights offering to holders of its common shares of record at
the close of business on Feb. 27, 2015, which Rights will expire at
5:00 p.m. (Toronto time) on March 30, 2015, in order to fund a
US$75M cost overrun facility, the arrangement of which is a
condition precedent to drawdown of the previously announced US$370M
term loan facility.

The Corporation's major shareholder, Mr. Dermot Desmond, has
advised the Corporation that he intends to fully exercise his
rights under the Offering.  In addition, the Corporation has
entered into a standby agreement with Mr. Desmond under which Mr.
Desmond has undertaken to fully subscribe for those rights not
otherwise subscribed for under the Offering.

Under the terms of the Offering, the Corporation will issue to
registered holders of outstanding Common Shares as of the Record
Date one Right for each Common Share held, and every 5.69 Rights
will entitle the holder thereof to purchase one Common Share at a
subscription price of $4.00 per Common Share.

The Offering is subject to regulatory approval, including that of
the Toronto Stock Exchange.

The Rights were listed and posted for trading on the TSX under the
symbol "MPV.RT" commencing on Feb. 25, 2015, and will remain listed
and posted for trading until 12:00 p.m. (Toronto time) on the
Expiry Date.  Rights not exercised on or before 5:00 p.m. (Toronto
time) on the Expiry Date will be void and have no value.

Pursuant to the Standby Agreement, Mr. Desmond has committed to
subscribe for any Common Shares not otherwise subscribed for by
Rights holders under the Offering.  As compensation for performing
his obligations under the Standby Agreement, the Corporation will
pay to Mr. Desmond a fee equal to 3.0% of the aggregate
subscription price to be paid for the 23,761,783 Common Shares to
be issued under the Offering, which fee may be paid by the
Corporation to Mr. Desmond in cash or, if agreed to by the
Corporation and Mr. Desmond, and subject to TSX approval and the
approval of shareholders of the Corporation, in Common Shares.

The Offering is expected to increase the number of issued and
outstanding Common Shares by approximately 17.54%.  The Board of
Directors of the Corporation has directed that funds raised under
the Overrun Facility that may be surplus to the requirements of the
US$370M term loan facility upon achievement of commercial
production at the Gahcho Kue diamond mine should be used for the
benefit of shareholders, which may include a future determination
to return such funds to shareholders by way of a future share
buyback or special dividend, as the Board may determine appropriate
at such time.

The Offering will be made in all provinces of Canada (except in
Quebec), in the United States pursuant to a registration statement
on Form F-7, and in such other jurisdictions where the Corporation
is eligible to make such an offering.  More details concerning the
Offering and the procedures to be followed by holders of Rights are
contained in the rights offering circular of the Corporation, which
will be mailed to eligible shareholders shortly after the Record
Date and a copy of which is available under the Corporation's
issuer profile on SEDAR at www.sedar.com.

                  About Mountain Province Diamonds

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit known as the "Gahcho Kue Project"
located in the Northwest Territories of Canada.  The Company's
primary asset is its 49 percent interest in the Gahcho Kue
Project.

Mountain Province reported a net loss of C$26.6 million in 2013,
a net loss of C$3.33 million in 2012 and a net loss of C$11.5
million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed C$200.8
million in total assets, C$41.4 million in total liabilities and
C$159 million in total shareholders' equity.

                           Going Concern

"The Company currently has no source of revenues.  In the years
ended December 31, 2013, 2012 and 2011, the Company incurred
losses, had negative cash flows from operating activities, and
will be required to obtain additional sources of financing to
complete its business plans going into the future.  Although the
Company had working capital of $35,133,368 at December 31, 2013,
including $35,687,694 of cash and short-term investments, the
Company has insufficient capital to finance its operations and the
Company's share of development costs of the Gahcho Kue Project
(Note 8) over the next 12 months.  The Company is currently
investigating various sources of additional funding to increase
the cash balances required for ongoing operations over the
foreseeable future.  These additional sources include, but are not
limited to, share offerings, private placements, rights offerings,
credit and debt facilities, as well as the exercise of outstanding
options.  However, there is no certainty that the Company will be
able to obtain financing from any of those sources.  These
conditions indicate the existence of a material uncertainty that
results in substantial doubt as to the Company's ability to
continue as a going concern," the Company said in the 2013 Annual
Report.


MURRAY ENERGY: Bank Debt Trades at 5% Off
-----------------------------------------
Participations in a syndicated loan under which Murray Energy is a
borrower traded in the secondary market at 95.15 cents-
on-the-dollar during the week ended Friday, Feb. 27, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 1.15 percentage points from the previous week, The Journal
relates.  Murray Energy pays 425 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Nov. 21, 2019, and
carries Moody's B1 rating and Standard & Poor's BB rating.  The
loan is one of the biggest gainers and losers among 216 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



MUSCLEPHARM CORP: Borrows $4 Million From ANB Bank
--------------------------------------------------
MusclePharm Corporation disclosed in a document filed with the
Securities and Exchange Commission regarding its entry into a
commercial loan agreement with ANB Bank, effective Feb. 24, 2015,
pursuant to which the Company borrowed from ANB $4,000,000.

The Note matures on Feb. 20, 2018.  Loans made pursuant to Loan
Agreement are secured by:

   (i) a security interest in all of the Company's inventory;

  (ii) all of the Company's accounts receivable or other payments
       due;

(iii) all the Company's general intangible properties,
       including, but not limited to, tax refunds, intellectual
       property and customer lists; and

  (iv) 866,600 shares of the Company's common stock currently held
       in the Company's treasury, pursuant to the Security
       Agreement entered into by and between the Company and ANB.

The interest rate which will accrue on the principal amount of the
Note is 5.250% per annum.

Upon the occurrence of an event of default, pursuant to the
Company's obligations pursuant to the Loan Documents, ANB may
increase the interest rate to 28% per annum.

The Note and Loan Agreement contains certain fees UCC fees, late
fees, and loan fees, including a one-time loan fee of $40,000.

                          About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm reported a net loss after taxes of $17.7 million in
2013, a net loss after taxes of $18.95 million in 2012, and a net
loss of $23.3 million in 2011.

Musclepharm's balance sheet at Sept. 30, 2014, showed $79.6
million in total assets, $41.5 million in total liabilities and
$38.08 million in total stockholders' equity.


NATIONAL CINEMEDIA: Posts $8.1 Million Net Income for 4th Quarter
-----------------------------------------------------------------
National CineMedia, Inc., reported net income attributable to the
Company of $8.1 million on $123 million of total revenue for the
quarter ended Jan. 1, 2015, compared to net income attributable to
the Company of $19 million on $122.7 million of total revenue for
the quarter ended Dec. 26, 2013.

For the year ended Jan. 1, 2015, CineMedia reported net income
attributable to the Company of $13.4 million on $394 million of
total revenue compared to net income attributable to the Company of
$41.2 million on $463 million of total revenue for the year ended
Dec. 26, 2013.

Commenting on the Company's 2014 results, Kurt Hall, NCM's Chairman
and CEO said, "2014 was a rollercoaster year for our company as the
impact of new digital technology and the continued expansion of
online content accelerated changes in consumer viewing habits.
Despite these competitive pressures, we finished the year strong
with Q4 2014 Adjusted OIBDA growth of 22% over the prior year
(excluding Fathom).  We are projecting further growth in 2015 as
our effective competition in the TV upfront process produced
national commitments for calendar 2015 that were nearly 75% higher
than those booked going into 2014."

Mr. Hall concluded, "Our ability to continue to compete more
effectively in the broader video advertising marketplace will be
closely tied to our continued success in the TV upfront sales
process and the further expansion of our network.  Further network
expansion will enable us to offer marketers the broad audiences
required to create meaningful targeted campaigns and the market
coverage ubiquity that is now offered by our video advertising
competitors, including broadcast, cable, online and mobile
networks."

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

                        http://is.gd/LxoG3G

                       Executive Compensation

On Feb. 23, 2015, the Compensation Committee of the Board of
Directors of National CineMedia reviewed the 2014 performance-based
bonus awards for the chief executive officer, the president of
sales and marketing, the EVP and general counsel and the EVP, chief
operating officer and chief technology officer to determine whether
and to what extent the performance goals established by the
Committee for 2014 had been achieved.  These cash bonus awards were
granted pursuant to the Executive Performance Bonus Plan for
executive officers adopted by the Compensation Committee on
March 13, 2013, and approved by stockholders on May 1, 2013.

In addition, on Feb. 23, 2015, the Compensation Committee of the
Board of Directors of the Company approved 2014 bonus awards for
the Company's SVP, finance and interim co-chief financial officer
and its SVP, controller and interim co-chief financial officer.
These individuals were not awarded bonuses for 2014 pursuant to the
Executive Performance Bonus Plan.

2014 Cash Bonus Payments

Based on the performance against targets, on Feb. 23, 2015, the
Compensation Committee of the Company approved payment of the
following cash bonuses for 2014 under the Executive Performance
Bonus Plan:

                                              Total Award
     Name                                       Amount
     ----                                     -----------
     Kurt C. Hall                              $367,452
     Clifford E. Marks                         $579,472
     Ralph E. Hardy                            $103,244
     Alfonso P. Rosabal, Jr.                   $121,409

Kurt C. Hall is president, CEO & Chairman; Clifford E. Marks serves
president of sales & marketing; Ralph E. Hardy is EVP & general
counsel and Alfonso P. Rosabal, Jr. serves as EVP, COO & CTO.

2014 Cash Bonus Payments

Based on the performance against targets, on Feb. 23, 2015, the
Compensation Committee of the Company approved payment of the
following cash bonuses for 2014 to the Interim co-chief financial
officers:

                                         Total Award
       Name                                  Amount
       ----                               -----------
       David J. Oddo                        $42,525
       Jeffery T. Cabot                     $47,579

A full-text copy of the Form 8-K Report is available at:

                         http://is.gd/NeT7oj

                      About National CineMedia

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

                            *    *    *

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


NATIONAL CINEMEDIA: Reports $13.4 Million Net Income for 2014
-------------------------------------------------------------
National Cinemedia, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
attributable to the Company of $13.4 million on $394 million of
total revenue for the year ended Jan. 1, 2015, compared to net
income attributable to the Company of $41.2 million on $463 million
of total revenue for the year ended Dec. 26, 2013.  As of Jan. 1,
2015, the Company had $991 million in total assets, $1.20 billion
in total liabilities and a $208.7 million total deficit.  A
full-text copy of the Form 10-K is available for free at
http://is.gd/WB1LTH

                      About National CineMedia

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

                            *    *    *

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


NET DATA CENTERS: Section 341 Meeting Set for March 27
------------------------------------------------------
There will be a meeting of creditors of Net Data Centers, Inc., on
March 27, 2015, at 9:00 a.m. at RM 7, 915 Wilshire Blvd., 10th
Floor, in Los Angeles, California.

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

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

Net Data Centers, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Cal. Case No. 15-12690) on Feb. 23, 2015.  Pervez P.
Delawalla, the president & CEO, signed the petition.  The Debtor
estimated assets and liabilities of at least $10 million.  Hon.
Sheri Bluebond is assigned to the case.  William F Govier, Esq., at
Lesnick Prince & Pappas LLP, serves as counsel to the Debtor.


NEWPAGE CORP: Bank Debt Trades at 3% Off
----------------------------------------
Participations in a syndicated loan under which NewPage Corp is a
borrower traded in the secondary market at 96.58 cents-
on-the-dollar during the week ended Friday, Feb. 27, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.37 percentage points from the previous week, The Journal
relates.  NewPage Corp pays 825 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Jan. 31, 2021, and
carries Moody's B2 rating and Standard & Poor's B+ rating.  The
loan is one of the biggest gainers and losers among 216 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



NORTH SHORE: Files for Ch 11 to Stop Business Partner's Lawsuit
---------------------------------------------------------------
North Shore Energy Services, LLC, filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Pa. Case No. 15-20390) on Feb. 6, 2015,
estimating its assets at between $500,000 and $1 million and
liabilities at between $1 million and $10 million.  The petition
was signed by Michael Havelka, authorized individual.  Judge Hon.
Carlota M. Bohm presides over the case.

The Company filed for bankruptcy so that its protracted dispute
with Jordan Manufacturing Consulting would finally be forced to
resolve, and it can take advantage of the opportunities in the
field without the legal threat from its manufacturer, Anya Litvak
at Pittsburgh Post-Gazette reports, citing Michael Havelka, the
Company's founder and chief technology officer.  The report quoted
him as saying, "It's difficult to attract investors, it's difficult
to attract customers when you have this lawsuit hanging over your
head."

The Company, according to Post-Gazette, was in a custody battle
with JMC that revolves around two 17-ton boxes that each party has
accused the other of kidnapping.  The report recalls that in 2014,
JMC president Ray Jordan asked a federal court in Texas to assign
possession of the so-called Brine Boxes to the manufacturer that
built them, in the hope that it would be more successful at
marketing the products to shale gas producers than the Company has
been over the past year.  Mr. Jordan said that if the Company
couldn't find paying clients during the height of shale exploration
in Texas in 2013, it isn't likely to succeed now that oil has
dropped 50% in the last six months, and oil and gas companies have
drastically cut their drilling programs, the report states.

The lawsuit and the Company's bankruptcy aren't about industry
dynamics but rather a standard contract dispute between two
business partners who stopped seeing eye-to-eye, Post-Gazette
relates, citing Mr. Havelka.

Donald R. Calaiaro, Esq., at Calaiaro Valencik serves as the
Company's bankruptcy counsel.

North Shore Energy Services, LLC, is based in Pittsburgh,
Pennsylvania.


NORTHERN INYO: S&P Lowers Rating on Revenue Bonds to 'BB'
---------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'BB' from 'BB+' on the Northern Inyo County Local Hospital
District, Calif.'s series 2010 and series 2013 revenue bonds.  The
outlook is stable.

The rating action is predominately based on the application of
Standard & Poor's revised criteria, U.S. Not-For-Profit Acute-Care
Stand-Alone Hospitals, published Dec. 15, 2014, on RatingsDirect.

"The rating reflects our view that the district's debt load is high
and its days' cash on hand is very thin and lower than prior-year
expectations articulated by management," said Standard & Poor's
credit analyst Kenneth Gacka.  "In addition, the rating is based on
our view of the inherent credit risks posed by the district's very
limited population size, the very high concentration of admissions
among its top 10 admitting physicians, and our assessment of the
district's historical inability to meet its unrestricted reserve
projections, which led to its fragile days' cash on hand."

At June 30, 2014, the district had approximately $60 million total
debt outstanding, approximately $24 million of which was revenue
bonds and capital leases.



PACIFIC DRILLING: Bank Debt Trades at 21% Off
---------------------------------------------
Participations in a syndicated loan under which Pacific Drilling
Ltd is a borrower traded in the secondary market at 78.85
cents-on-the-dollar during the week ended Friday, Feb. 27, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.79 percentage points from the previous week, The Journal
relates. The Company pays 350 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 15, 2018, and
carries Moody's B1 rating and Standard & Poor's B+ rating.  The
loan is one of the biggest gainers and losers among widely-quoted
syndicated loans in secondary trading in the week ended Friday
among the 216 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



PARADIGM EAST HANOVER: Seeks to Auction East Hanover Properties
---------------------------------------------------------------
Paradigm East Hanover, LLC, asks the Bankruptcy Court to approve
bidding procedures in connection with the sale of real property
identified as Block 99, Lot 4 a/k/a 11 Mt. Pleasant Avenue, East
Hanover, NJ 07936, Block 99, Lot 4.02 a/k/a 3 Farinella Drive, East
Hanover, NJ 07936, and Block 99, Lot 5.01 a/k/a 33 Mt. Pleasant
Avenue, East Hanover, NJ 0793.  

77 Charters, Inc., maintains a 20% interest in all three of the
Lots but is consenting to the sale of the Lots.

The Debtor previously received an offer to purchase Lot 4.02 from
Avalon Bay Communities for $5,000,000, subject to contingencies on

approvals from the municipality, with a deposit being provided in
the form of an irrevocable letter of credit in the amount of
$500,000.  However, on Feb. 2, 2015, AvalonBay terminated the
Contract with the Debtor.

On Feb. 3, 2015, at the hearing on the Sale Motion, the Debtor
advised the Court of the offers received and the interest in
conducting an auction to obtain the highest and best offer for the

Lots.  The Court requested that the Debtor submit a motion to
establish bidding procedures and set a hearing to approve a sale
to the bidder(s) providing the highest and best

The current offers to purchase the Lots are contingency offers.  
The Debtor's preference is to monetize the Lots as soon as
possible; however, the proposed purchase price must still be
acceptable to the Debtor.  The Debtor prefers an “as is” sale;

however, if an approved contingency offer is higher and best and
in an amount significant enough to induce the Debtor to obtain
financing to carry the Lots or a contingency offer where the
prospective purchaser is willing to pay carrying costs, the Debtor

will consider such offer.  The Debtor is not in the real estate
business and is desirous of selling the Lots for the highest and
best offer.

                        About Paradigm East

Paradigm East Hanover, LLC, sought Chapter 11 bankruptcy petition
(Bankr. D.N.J. Case No. 14-25017) in Newark, New Jersey, on July
23, 2014.  The Debtor, a Single Asset Real Estate as defined in 11
U.S.C.  Sec. 101(51B), disclosed assets of between $10 million and
$50 million, and debt of less than $10 million.

The company is owned by entities held by Paradigm Capital Funding,
LLC.

The case is assigned to Judge Donald H. Steckroth.  Morris S.
Bauer, Esq., at Norris McLaughlin & Marcus, PA, in Bridgewater,
New Jersey, serves as counsel.



PEOPLE'S COMMUNITY: Says Problems Due to Lack of Good Management
----------------------------------------------------------------
William A. Green, managing agent at The People's Community Health
Centers, Inc., said that the Organization's problems stemmed from a
lack of good management, Ruth McCambridge at Nonprofit Quality
reports.

Citing Mr. Green, Nonprofit Quality relates that too many bank
accounts existed with too many transfers between them, and payroll
was unsustainably high.

The Organization filed for Chapter 11 bankruptcy protection (Bankr.
D. Md. Case No. 15-10228) on Jan. 7, 2015, disclosing $3.04 million
in total assets and $6.73 million in total liabilities.  The
petition was signed by William A. Green, managing agent.  Michael
Stephen Myers, Esq., at Scarlett, Croll & Myers, P.A., serves as
the Organization's bankruptcy counsel.

NPQ recalls that the Organization has closed its five clinics
precipitously, leaving $6.7 million dollars of debt to employees,
the IRS, vendors, and Baltimore city, among others.

According to Nonprofit Quality, Mr. Green discussed his plans for
working through its Chapter 11 bankruptcy at a meeting of creditors
in federal bankruptcy court.  The report says that the Plan will
entail relaunching clinics, without the backstop of relying on
federal grants as an FQHC.  They will rely on insurance payments
from patients as their main revenue source, the report states.

Nonprofit Quality reports that some of the former staff suggested
that the endeavor might be best scrapped.  "I think it would be a
disservice to community health for People's Community Health Center
to reopen," the report quoted Barbara Einzig, former grants
specialist for the Organization, as saying.  According to the
report, Ms. Einzig said that she did not see how reopening without
the federal grants would be viable.

Mr. Green has petitioned to use the Organization's cash flow of
approximately $55,000 a month to pay his company, Enterprise
Development Corp., a management fee Nonprofit Quality says, citing
Noelle Lang, who is waiting for around ten weeks' pay.

The People's Community Health Centers, Inc., fdba Medhealth of
Maryland, Inc., is headquartered in Baltimore, Maryland.


PERKINS & MARIE: Marie Callender's Grill in Seal Beach Closes
-------------------------------------------------------------
Nancy Luna and Joanna Clay at Orange County Register reports that
Marie Callender's Grill in Seal Beach has shut down.

The chain has 72 locations, 30 of which are franchises, OC Register
states, citing a spokesperson for parent company Perkins & Marie
Callender's Inc.

OC Register relates that the restaurant was a franchise location
and one of two remaining "grill concepts" in Southern California.
The report says that the grill restaurants were part of a failed
attempt to upscale the look and food at some of Marie Callender's
restaurants.  

OC Register relates that when Perkins & Marie filed for bankruptcy,
31 Marie Callender's locations in various states were closed.

                     About Perkins & Marie

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Perkins & Marie's Joint Plan of Reorganization became effective
Nov. 30, 2011.  The Plan gave new stock to holders of senior
unsecured notes owed $204 million and to general unsecured
creditors owed between $20 million or $25 million.

Attorneys at Young, Conaway, Stargatt & Taylor, LLP; and Troutman
Sanders, LLP, represented the Debtors.  Whitby, Santarlasci &
Company was the financial advisor.  Omni Management Group, LLC was
the claims agent.

DIP lender Wells Fargo ws represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.  Ropes & Gray LLP represented the
Committee of Creditors.


PHIBRO ANIMAL: S&P Affirms 'B+' CCR & Revises Outlook to Positive
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating on Phibro Animal Health Corp.  S&P is revising the
outlook to positive from stable.  S&P also affirmed the 'B+'
issue-level rating; the '3' recovery rating on this debt is
unchanged.

"The outlook revision is based on the company's first half of
fiscal 2015 financial performance, which is trending to exceed our
full year expectations," said Standard & Poor's credit analyst
Michael Berrian.  The better-than-expected revenue and EBITDA comes
from higher volumes, favorable pricing, and to a lesser extent
favorable foreign currency movements.  S&P forecasts the company's
leverage at June 30, 2015 to be 2.8x, compared with an earlier
expectation that debt to EBITDA would be about 3x.

Phibro has an established, but concentrated and narrow focus in the
niche worldwide animal feed additives industry and competes against
larger, more diversified competitors.  The business risk profile
assessment remains "vulnerable".  This vulnerability is highlighted
by manufacturing in Brazil, which can expose the company to
unfavorable foreign currency swings while competition from larger
and more diversified companies can limit pricing flexibility.
Phibro is subject to fluctuations in demand and cost of raw
materials, which is tied to volatility in commodities pricing.
Historically, Phibro has been able to pass along its raw material
cost increases in the form of higher pricing, which insulates them
from commodity price risk.  However, competition from larger
players that can more readily absorb lower prices could limit
Phibro's pricing flexibility.

Leverage at Dec. 31, 2014, was about 3x, which supports S&P's
significant financial risk assessment.  Following the recent
outperformance, S&P has revised its 2015 and 2016 expectations due
to better-than-expected volume gains that S&P believes will be
sustainable over the near term due to higher demand for protein. As
a result, S&P now forecasts Phibro's leverage to decline to about
2.8x at June 30, 2015.  Given the company's recent IPO, S&P expects
financial policy to be supportive of an improving leverage profile.
In S&P's opinion, the annual dividend of $15 million makes the
possibility of a leveraged dividend less likely over the near term.
S&P expects the company to make modest tuck-in acquisitions.

The positive outlook reflects S&P's expectation that the company
will sustain its recent track record of solid revenue growth and
margin expansion, with good potential for leverage to decline to
less than 3x at June 30, 2015.  S&P expects this level of growth
will also contribute to discretionary cash flow generation of about
$20 million.

S&P could revise the outlook to stable if it do not believe that
the recent improvement in operating performance is sustainable,
given the short-term track record of operating improvement.  S&P
could also revise the outlook to stable if Phibro does not meet
S&P's base-case expectations.  In either scenario, S&P would not be
confident that leverage will remain under 3x.  In particular, if
gross margins contract by about 300 basis points, leverage would be
higher than 3x.

S&P could raise the rating once it has conviction that leverage,
which it expects will be about 2.8x at June 30, 2015, will remain
less than 3x through 2016, meeting S&P's base-case expectations.
S&P's forecast calls for mid to high-single-digit sales and stable
gross margins in the 33% to 35% range, which would sustain leverage
at this level.  Commensurate with this scenario, S&P would expect
to see consistent free cash flow generation.



PHILLIPS INVESTMENTS: Has Until June 6 to File Chapter 11 Plan
--------------------------------------------------------------
The Hon. Mary Grace Diehl of the U.S. Bankruptcy Court for the
Northern District of Georgia extended the exclusive periods of
Phillips Investments LLC to file a Chapter 11 plan and obtain the
requisite acceptances of that plan through and including June 6,
2015, and Aug. 5, 2015, respectively.

According to the Debtor, absent an order by the Court to further
extend the exclusive period, those time periods expire on Feb. 6,
2015 and April 7, 2015, respectively.

The Debtor told the Court that it has been able to sell its
Gwinnett Station property for approximately $1 million over the
last appraised value.  The Debtor noted it is now concentrating on
trying to sell or refinance its Gwinnett Prado property, which
might require, among other things, having the property rezoned.

                     About Phillips Investments

Phillips Investments, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ga. Case No. 14-61444) on June 11, 2014.  Ly Phillips
signed the petition as managing member.

Phillips Investments owns several parcels of improved commercial
real estate from which it operates two retail shopping centers.
The Debtor disclosed $29,558,424 in assets and $28,667,234 in
liabilities as of the Chapter 11 filing.  Scroggins & Williamson,
P.C., serves as the Debtor's counsel.  Judge Mary Grace Diehl
presides over the case.


PONTIAC CITY SCHOOL: Moody's Affirms 'Caa1' Issuer Rating
---------------------------------------------------------
Moody's Investors Service affirmed Pontiac City School District's
Caa1 issuer rating and Caa2 General Obligation Limited Tax debt
rating.  The outlook has been revised to stable from negative.  The
district has $22.6 million of outstanding GOLT debt, of which $12.6
million is Moody's rated.

The Caa1 issuer rating reflects risk that the district could again
default on a debt service payment given its continued narrow cash
flows, but that recovery rates would likely be high.  While the
district has made improvements to its financial operations and
management, the district is at risk of another liquidity crisis as
early as July 2015.  The district remains highly distressed with a
very large General Fund deficit, extremely high dependence on cash
flow borrowing, and continued enrollment declines that pressure
district revenues.  Also incorporated into the Caa1 rating is the
district's low debt burden with substantial outstanding capital
needs and sizable though depreciating tax base.

The Caa2 GOLT rating is notched from the issuer rating to reflect
as the operating revenues available to pay debt service are subject
to constitutional and statutory limitations.

Moody's ratings represent expected loss, encompassing both default
probability and bondholders' likely post-default recovery. When a
security is in or approaching default, then placement of the rating
will largely depend on the expected recovery to bondholders.
Ratings of defaulted bonds with expected recoveries of 65-95% will
typically be in the Caa range, 35-65% at Ca, and under 35% at the
lowest rating of C.  In the rare case when expected recoveries
exceed 95%, such ratings will be in the single B range.

The stable outlook reflects that while the district's financial
operations remain distressed and liquidity is extremely narrow, the
district's financial position is no longer deteriorating.  The
district is better positioned to respond to a future liquidity
crisis given improved financial management and improved
coordination and oversight from the State of Michigan (Aa2
positive).

What could make the underlying rating go up:

- Substantial improvement to liquidity reducing risk of a debt
   service default

- Reduced reliance on cash flow borrowing to finance operations

- Continued reduction in the General Fund deficit

- Stabilization of enrollment trends

What could make the underlying rating go down

- Increase in likelihood of bankruptcy filing such as the
   appointment of an Emergency Manager

- Failure to maintain recent progress in improved financial
   operations or failure to reach targets set in the district's
   financial and operating plan

- Inability maintain sufficient cash flow for operations
   resulting in growth in payables or missed debt service payment

Located approximately 30 miles north of Detroit, the district
encompasses 38.8 square mile in Oakland County (Aaa stable).  The
district provides K-12 education to the City of Pontiac and
portions of surrounding suburban communities including portions of
Auburn Hills and Bloomfield Township.

Debt service on the district's rated GOLT bonds is secured by the
district's GO tax pledge subject to constitutional and statutory
limitations on operating revenues.

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


POSITIVEID CORP: Reports 7.7% Stake in Veriteq
----------------------------------------------
In a document filed with the Securities and Exchange Commission,
PositiveID Corporation disclosed that as of Feb. 26, 2015, it
beneficially owned 140,000 common shares of VeriTeQ Corporation,
representing 7.7% (based on 1,811,800 shares of common stock
outstanding as of Feb. 25, 2015).  A copy of the regulatory filing
is available for free at http://is.gd/ebg0kU

                          About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $13.3 million on $0 of revenue for the year ended Dec. 31,
2013, as compared with a net loss attributable to common
stockholders of $25.30 million on $0 of revenue in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $1.37
million in total assets, $9.03 million in total liabilities, and a
stockholders' deficit of $7.66 million.

EisnerAmper LLP, in New York, 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 a working capital deficiency and an accumulated
deficit.  Additionally, the Company has incurred operating losses
since its inception and expects operating losses to continue
during 2014.  These conditions, the auditors said, raise
substantial doubt about the Company's ability to continue as a
going concern.


PRECISION MEDICAL: Case Trustee Wants Substantive Consolidation
---------------------------------------------------------------
Richard M. Kipperman, the Chapter 11 Trustee for Precision Medical
Holdings Inc., asks the Hon. Louise DeCarl Adler of the U.S.
Bankruptcy Court for the Southern District of California to
substantively consolidate the cases of the Debtor and its
subsidiaries.

According to the Trustee, the Debtor and all of its wholly owned
subsidiaries collectively operate as a single entity known as the
"Precision Repair Network".  The Precision Repair Network is
hopelessly entangled, fails to distinguish operations among the
Debtor and its Subsidiaries, and holds itself out to the public a
single operating unit.  Substantive consolidation is warranted in
the case where:

   i) the Debtor and its Subsidiaries are indistinguishably and
      hopelessly entangled and

  ii) creditors dealt with the Debtor and its Subsidiaries as a
      single economic unit.

                           About PMH

Torrey Pines Precision Medical, LLC, Nikolay Savchuk, and American
Medical Wholesale, which are collectively owed $3.7 million, filed
an involuntary Chapter 11 petition against Precision Medical
Holding, Inc., aka Precision Repair Network (Bankr. S.D. Cal. Case
No. 14-09522) on Dec. 8, 2014.

The Petitioning Creditors are represented by Jeffry A. Davis, Esq.,
Mintz Levin Cohn Ferris Glovsky & Popeo, in San Diego, California.


PRECISION MEDICAL: Ch.11 Trustee Wants Case Converted to Chapter 7
------------------------------------------------------------------
Richard M. Kipperman, the Chapter 11 Trustee for Precision Medical
Holdings Inc., asks the Hon. Louise DeCarl Adler of the U.S.
Bankruptcy Court for the Southern District of California to convert
the Debtor's Chapter 11 case to a Chapter 7 liquidation
proceeding.

According to the Trustee, good cause exists for conversion because
the Debtor's business is now effectively defunct as its
subsidiaries were forced to voluntarily forfeit their rights to
operate as medicare suppliers, which was the business' primary
source of revenue.  Lacking the funds for regular expenses, the
Debtor's business also lacks the funds necessary for jump-starting
its rehabilitation.

The Trustee has determined that liquidation is in the best interest
of the Debtor's estate, and has reached a tentative sale agreement
for the sale of equipment and inventory of the Debtor's business.
The conversion of the case to a case under Chapter 7 would enable
the Estate to avoid the unnecessary expenses and delay that the
Debtor's estate would incur were the case to remain a case under
Chapter 11, including the costs of a plan confirmation proceeding
and the possible costs of appointment of an official committee of
unsecured creditors.

The Chapter 11 trustee retained as counsel:

  Victor A. Vilaplana, Esq.
  Marshall J. Hogan, Esq.
  3579 Valley Centre Drive, Suite 300
  San Dieg, CA 92130
  Tel: 858.847.6700
  Fax: 858.792.6773
  Email: vavilaplana@foley.com
         mhogan@foley.com

                           About PMH

Torrey Pines Precision Medical, LLC, Nikolay Savchuk, and American
Medical Wholesale, which are collectively owed $3.7 million, filed
an involuntary Chapter 11 petition against Precision Medical
Holding, Inc., aka Precision Repair Network (Bankr. S.D. Cal. Case
No. 14-09522) on Dec. 8, 2014.

The Petitioning Creditors are represented by Jeffry A. Davis, Esq.,
Mintz Levin Cohn Ferris Glovsky & Popeo, in San Diego, California.


PREMIER EXHIBITIONS: Shareholders Elect Five Directors to Board
---------------------------------------------------------------
Premier Exhibitions, Inc. held its 2014 annual meeting of
shareholders on Feb. 26, 2015, at which Douglas Banker, Jack H.
Jacobs, Rick Kraniak, Mark A. Sellers and Samuel S. Weiser were
elected to the Board of Directors to serve until the next Annual
Meeting.

Shareholders also ratified the Company's appointment of Cherry
Bekaert LLP as the Company's independent registered public
accounting firm for the fiscal year ending Feb. 28, 2015.

Shareholders approved, on an advisory, non-binding basis, the
compensation of the Company's named executive officers and
approved a resolution authorizing the Board of Directors to amend
the Company's Articles of Incorporation to implement a reverse
stock split of the Company's common stock at a ratio of 1-for-10.


                     About Premier Exhibitions

Premier Exhibitions, Inc., develops, deploys and operates
exhibition products that are presented to the public in exhibition
centers, museums and non-traditional venues.  The Atlanta-based
Company's exhibitions generate income primarily through ticket
sales, third-party licensing, sponsorships and merchandise sales.

Premier reported a net loss of $778,000 for the year ended
Feb. 28, 2014, compared to net income of $1.86 million for the year
ended Feb. 28, 2013.

                        Bankruptcy Warning

"If our efforts to raise additional funds are unsuccessful, the
Company will be required to delay, reduce or eliminate portions of
our strategic plan and may be required to seek the protection of
the U.S. bankruptcy laws and/or cease operating as a going concern.
In addition, if the Company does not meet its payment obligations
to third parties as they come due, the Company may be subject to an
involuntary bankruptcy proceeding or other litigation claims.  Even
if the Company were successful in defending against these potential
claims and proceedings, such claims and proceedings could result in
substantial costs and be a distraction to management, and may
result in unfavorable results that could further adversely impact
our financial condition.

If the Company makes a bankruptcy filing, is subject to an
involuntary bankruptcy filing, or is otherwise unable to continue
as a going concern, the Company may be required to liquidate its
assets and may receive less than the value at which those assets
are carried on its financial statements, and it is likely that
shareholders will lose all or a part of their investments.  These
financial statements do not include any adjustments that might
result from the outcome of this uncertainty," the Company stated in
the quarterly report for the period ended Nov. 30, 2014.


PRESIDENTIAL REALTY: Nickolas Jekogian Reports Shares Ownership
---------------------------------------------------------------
Nickolas W. Jekogian, Jr., trustee of the BBJ Irrevocable Family
Trust, disclosed in a regulatory filing with the Securities and
Exchange Commission that as of Feb. 18, 2015, he beneficially owned
177,013 Class A common stock (representing 40 percent of the shares
outstanding) and 250,000 Class B common stock (representing 5.66
percent of the shares outstanding) of Presidential Realty
Corporation.

On Feb. 18, 2015, the Trust purchased 125,000 shares of Class B
Common Stock at an aggregate purchase price of $151,250.

The Company's certificate of incorporation prohibits beneficial
ownership of more than 9.2% of the outstanding shares of the
Company's Common Stock.  Accordingly, 32,455 of the 125,000 shares
of Class B Common Stock acquired by the Trust constitutes Excess
Shares as provided in the Company's certificate of incorporation.
Excess Shares held by the Trust cannot be voted or disposed of by
the Trust.  The Reporting Person is the beneficial record holder of
250,000 shares of Class B Common Stock of the Company but is the
beneficial owner of only 217,545 of those shares which comprises
5.66% of the issued and outstanding Class B Common Stock.

According to the Company's quarterly report on form 10-Q for the
quarter ended Sept. 30, 2014, as of Nov. 14, 2014, there were
442,533 shares of Class A Common Stock and 3,846,147 shares of
Class B Common Stock outstanding.

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

                        http://is.gd/JFTMzx

                     About Presidential Realty

Headquartered in White Plains, New York, Presidential Realty
Corporation, a real estate investment trust, is engaged
principally in the ownership of income-producing real estate and
in the holding of notes and mortgages secured by real estate or
interests in real estate.  On Jan. 20, 2011, Presidential
stockholders approved a plan of liquidation, which provides for
the sale of all of the Company's assets over time and the
distribution of the net proceeds of sale to the stockholders after
satisfaction of the Company's liabilities.

Presidential Realty reported net income of $2.47 million on
$846,878 of total revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $2.33 million on $780,000 of total
revenues in 2012.

Baker Tilly Virchow Krause, LLP, in Melville, New York, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has suffered recurring losses from
operations and has a working capital deficiency.  These factors
raise substantial doubt about its ability to continue as a going
concern.


PRM FAMILY: April 1 Set as Initial Joint Plan Confirmation Hearing
------------------------------------------------------------------
The U.S. Bankruptcy Court, according to a minute entry for the
hearing held Feb. 18, 2015, will convene a hearing on April 1,
2015, at 10:00 a.m., to consider the confirmation of a Joint Plan
of Liquidation proposed by PRM Family Holding Company, L.L.C., et
al., and the Official Committee of Unsecured Creditors.

As reported in the Troubled Company Reporter on Nov. 28, 2014,
the Bankruptcy Court said that it will not yet set a confirmation
hearing on the Joint Plan and directed the Debtor's counsel to call
the clerk for an initial confirmation hearing date when he is ready
to lodge the form of order approving the disclosure statement.

On Oct. 31, 2014, the Committee responded to the objection to the
Amended Disclosure Statement filed by Bro-Pack Enterprises.  The
Committee objects to the motion to convert the cases to those
under Chapter 7.

Bro-Pack objected to the Disclosure Statement with respect to
Joint Plan because: (1) the Plan itself is not confirmable; and
(2) the Disclosure Statement does not provide sufficient
information to permit creditors to make an informed decision in
voting on the Plan.

According to the Committee, Bro-Pack's objection is misguided for
three reasons:

   1. It focused on the likelihood that there will be funds to pay
503(b)(9) claimants, which is a Plan feasibility issue, and not a
proper objection to the adequacy of the Disclosure Statement;

   2. Bro-Pack ignored a critically important fact -- the
Provenzano family's $1.6 million commitment to fund the Plan will
be withdrawn if the Plan is not confirmed and the cases are
converted to chapter 7; and

   3. Many of Bro-Pack's arguments which objected to the adequacy
of the Disclosure Statement are exaggerated, misstated, or simply
erroneous.

The Committee asserted that the Disclosure Statement provides
adequate information to demonstrate to creditors that the proposed
liquidation of the Debtors' remaining assets pursuant to the Plan
provides all creditors, including Bro-Pack, with the best
opportunity for recovery on their claims, whereas a conversion to
chapter 7 will result in no recovery for unsecured creditors and,
at best, a partial recovery for administrative claimants.

                            The Plan

As reported in the TCR on Sept. 24, 2014, the disclosure statement
explains in details how claims will be paid under the liquidation
plan proposed by the company and its official committee of
unsecured creditors.

As reported by the TCR on Aug. 6, 2014, secured creditors,
including those that hold secured tax claims and CNG secured
claims will be paid in full under the plan.

Creditors holding priority claims will be paid from a creditor
trust while general unsecured claims will be deemed to hold
"unsecured creditor trust interests" and will receive pro rata
distributions from the trust.  Meanwhile, PRM Family's equity
securities will be cancelled.

The liquidation plan will be funded in part by a contribution from
related third parties, Provenzano Family members and their
respective trusts.

Bro-Pack Enterprises filed an objection to the disclosure
statement in which it complained about the unfair treatment of
certain creditors holding administrative claims.  The objection
drew support from creditors, including Bar-S Foods, Flyers Energy
LLC, Mojave Foods Corp. and TRC Master Fund LLC.

                         About PRM Family

PRM Family Holding Company, L.L.C., operator of 11 Pro's Ranch
Markets grocery stores in Arizona and Texas and New Mexico,
sought Chapter 11 protection (Bankr. D. Ariz. Case No. 13-09026)
on May 28, 2013.

As of the bankruptcy filing, PRM Family Holding operates seven
grocery stores in Phoenix, two in El Paso, Texas, and two in New
Mexico.  Its corporate office is in California and it has
warehouses and distribution facilities in California and Phoenix.
Its Pro's Ranch Markets feature produce, baked goods, and other
general grocery items with a Hispanic flair and theme.  The
company has more than 2,200 employees.

PRM Family blamed its woes on, among other things, the adverse
effect of the perception in Arizona towards immigrants including
the passage of SB 1070 and an immigration audit to which no other
competitor was subjected.  It also blamed a decline in the U.S.
economy and an increase competition from other grocery store
chains.

Bank of America, the secured lender, declared a default in
February 2013.

PRM Family estimated liabilities in excess of $10 million.

Judge Sarah Sharer Curley oversees the case.  Michael McGrath,
Esq., Scott H. Gan, Esq., Frederick J. Petersen, Esq., Kasey C.
Nye, Esq., David J. Hindman, Esq., and Isaac D. Rothschild, Esq.,
at Mesch, Clark & Rothschild, P.C., serve as the Debtor's counsel.

HG Capital Partners' Jim Ameduri serves as financial advisor.

PRM Family submitted to the Bankruptcy Court on Sept. 23, 2013, a
Joint Disclosure Statement in support of Plan of Reorganization.
The Disclosure Statement says the Debtor will continue the
operation of a long-standing business, which currently employs
approximately 2,300 people. Continuing the business will allow the
Debtors to repay creditors and maintain trading relationships with
long-term trade vendors.

Attorneys at Freeborn & Peters LLP, in Chicago, Ill., represent
the Official Committee of Unsecured Creditors as lead counsel.
Attorneys at Schian Walker, P.L.C., in Phoenix, Arizona, represent
the Committee as local counsel.  O'Keefe & Associates Consulting,
LLC, serves as financial advisor to the Committee.

Robert J. Miller, Esq., Bryce A. Suzuki, Esq., and Justin A.
Sabin, Esq., at Bryan Cave LLP, in Phoenix, serve as counsel for
Bank of America, N.A., as administrative agent and a lender under
an amended and restated credit agreement dated July 1, 2011.


PRONERVE HOLDINGS: Meeting to Form Creditors' Panel Set for March 5
-------------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on March 5, 2015, at 11:00 a.m. in the
bankruptcy cases of ProNerve Holdings, LLC, et al.

The meeting will be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 5209
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                      About ProNerve Holdings

Founded in 2008, ProNerve is headquartered in a suburb of Denver,
Colorado.  ProNerve and certain affiliated practice entities
provide intraoperative neurophysiologic monitoring ("IOM") services
to health systems, acute care hospitals, specialty hospitals,
ambulatory surgical centers, surgeons, and physician groups in more
than 25 states.  

ProNerve Holdings, LLC and its affiliates sought Chapter 11
protection (Bankr. D. Del. Case No. 15-10373) on Feb. 24, 2015,
with a deal to sell assets to SpecialtyCare IOM Services, LLC for a
credit bid of $35 million.

The cases are assigned to Judge Kevin J. Carey.

The Debtor tapped Pepper Hamilton LLP as counsel, and The Garden
City Group, Inc., as claims and noticing agent.




QUALITY DISTRIBUTION: Reports Fourth Quarter Net Income of $2.6MM
-----------------------------------------------------------------
Quality Distribution, Inc., reported net income of $2.62 million on
$243 million of total operating revenues for the three months ended
Dec. 31, 2014, compared to a net loss of $22.8 million on $225
million of total operating revenues for the same period in 2013.

For the year ended Dec. 31, 2014, the Company reported net income
of $20.64 million on $992 million of total operating revenues
compared to a net loss of $42.03 million on $930 million of total
operating revenues during the prior year.

As of Dec. 31, 2014, the Company had $428 million in total assets,
$459 million in total liabilities and a $31.7 million total
stockholders' deficit.

"Our Chemical and Intermodal businesses delivered continued growth
during the fourth quarter, which led to solid profitability at the
high end of our earnings expectation range," stated Gary Enzor,
chairman and chief executive officer.  "Chemical's expansion
efforts delivered strong results as well as increased international
demand at Intermodal drove enhanced top and bottom line
profitability.  Our Energy Logistics revenue was down slightly
versus last year, but adjusted operating income was up, primarily
reflecting efforts to transition company-operated terminals to
independent affiliates alongside our focus on reducing costs
through asset optimization.  Overall, we delivered a solid fourth
quarter and look forward to continuing this positive momentum in
2015."

Mr. Enzor continued, "Our first quarter earnings estimate reflects
some caution around our Energy business due to oil price decreases,
although we have not seen significant, non-weather related declines
in volumes.  We have experienced some adverse impact from severe
winter weather conditions in each of our businesses.  Overall, our
asset-light business model continues to deliver strong free cash
flow and we look forward to another year of positive results."

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

                        http://is.gd/57OoGw

                    About Quality Distribution

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

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

                        Bankruptcy Warning

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

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

                           *    *     *

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

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


QUALITY HOME: S&P Raises Rating on $160MM 1st Lien Loan to 'B-'
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
issue-level rating to 'B-' from 'CCC+' on Quality Home Brands
Holdings LLC's $160 million first-lien term loan due 2018 and
revised the recovery rating to '4' from '5', indicating S&P's
anticipation of average (30%-50%) recovery in the event of a
payment default.

"The raised rating reflects our view of the increase in the
company's enterprise value at emergence," said Standard & Poor's
credit analyst Beverly Correa.



QUEST SOLUTION: Amends Preferred Stock Certificate of Designation
-----------------------------------------------------------------
The Certificate of Incorporation of Quest Solution, Inc., formerly
known as Left Right Marketing Technology, Inc., authorizes the
issuance from time to time of preferred stock.  The Company filed a
Certificate of Designation of Series A Preferred Stock of Left
Right Marketing Technology, Inc. with the Secretary of State of the
State of Delaware on April 26, 2004.  The Board previously approved
that the Certificate of Designation be amended to (i) eliminate (A)
the liquidation preference, (B) right of redemption and (C) the
conversion rights of the Company's Preferred Stock; and (ii) grant
the holders of the Preferred Stock voting rights, whereby each
share of Preferred Stock would entitle the holder to 250 votes on
all matters submitted to a vote of the stockholders of the Company,
subject to adjustment.

On Feb. 25, 2015, the Company ratified the Amendments and the
filing of a Certificate of Amendment to the Certificate of
Designation with the Secretary of State of the State of Delaware.
The Certificate of Amendment was filed with the Secretary of State
of the State of Delaware and became effective on Feb. 26, 2015.   

                       About Quest Solution

Quest Solution (formerly known as Amerigo Energy, Inc.) is a
national mobility systems integrator with a focus on design,
delivery, deployment and support of fully integrated mobile
solutions.  The Company takes a consultative approach by offering
end to end solutions that include hardware, software,
communications and full lifecycle management services.  The highly
tenured team of professionals simplifies the integration process
and delivers proven problem solving solutions backed by numerous
customer references.  Motorola, Intermec, Honeywell, Panasonic,
AirWatch, Wavelink, SOTI and Zebra are major suppliers which Quest
Solution uses in its systems.

Amerigo Energy reported a net loss of $1.12 million in 2013
following a net loss of $191,000 in 2012.

L.L. Bradford & Company, LLC, Las Vegas, NV, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit that raises substantial doubt about its
ability to continue as a going concern.


QUICKSILVER RESOURCES: Gives Executive Officers Retention Bonuses
-----------------------------------------------------------------
Quicksilver Resources Inc. disclosed in a document filed with the
Securities and Exchange Commission that it awarded retention cash
bonuses to certain of its named executive officers in the
following amounts:

-- Vanessa LaGatta, SVP, CFO and treasurer, $500,000;

-- Stan Page, SVP - U.S. Operations, $406,875;

-- David Rushford, SVP - COO of QRCI, C$315,900; and

-- Anne Self, VP - Human Resources, $84,375.

The awards are subject to clawback if the individual ceases to be
an employee of the Company or its subsidiaries prior to Feb. 27,
2016 (for Mr. Rushford and Ms. Self) and Aug. 27, 2016 (for Ms.
LaGatta and Mr. Page), unless (a) there has been a Change in
Control (as defined in the Company's Amended and Restated Change in
Control Retention Incentive Plan as of Feb. 27, 2015) on or prior
to the date of his or her termination of employment; or (b) his or
her employment is terminated by the Company or one of its
subsidiaries (i) without cause, subject to his or her execution and
non-revocation of a release agreement satisfactory to the Company
or (ii) due to disability or death. None of these officers will
receive a bonus with respect to 2014.

                          About Quicksilver

Quicksilver Resources Inc. is an exploration and production
company engaged in the development and production of long-lived
natural gas and oil properties onshore North America.  Based in
Fort Worth, Texas, the company is widely recognized as a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999 and is listed on the New York Stock Exchange under the
ticker symbol KWK.  The company has U.S. offices in Fort Worth,
Texas; Glen Rose, Texas; Steamboat Springs, Colorado; Craig,
Colorado and Cut Bank, Montana.  The Company's Canadian
subsidiary, Quicksilver Resources Canada Inc., is headquartered in
Calgary, Alberta.

Quicksilver Resources posted net income of $162 million in 2013
following a net loss of $2.35 billion in 2012.  The Company's
balance sheet at Sept. 30, 2014, showed $1.26 billion in total
assets, $2.36 billion in total liabilities and a $1.09 billion
stockholders' deficit.

Quicksilver in February 2015 disclosed it may need to seek
voluntary protection under Chapter 11 of Bankruptcy Code if it
won't be successful in restructuring its indebtedness.  This
announcement came after the Company had decided not to make the
approximately $13.6 million interest payment due Feb. 17, 2015, on
its 9.125% senior notes due 2019.


RADIOSHACK CORP: Analyst Says Bankruptcy Won't Reshape Cell Market
------------------------------------------------------------------
Analysts said that RadioShack Corp.'s bankruptcy won't reshape the
cell market as it won't have much impact on wireless providers'
bottom lines, Joseph Palenchar, writing for Twice.com.

Citing analysts, Twice.com relates that the approval of the
Company's Chapter 11 plan will eliminate AT&T, Verizon and select
MVNOs, including TracFone, from almost all of the Company's stores
that remain open.  The Plan, says Twice.com, might give a boost to
Sprint, which will be the exclusive carrier in about 1,750 of the
approximate 2,100 RadioShack stores that survive.  The report adds
that Sprint will lose visibility when around 1,900 RadioShack
stores are closed under the plan.

According to Twice.com, NPD industry analysis VP Steve Baker said
that though Sprint comes out better in the Company's reorganization
than its competitors, the competing carriers won't get hurt.  The
report quoted Mr. Baker as saying, "In cellular, while RadioShack
was a solid outlet for its cellular partners, there are plenty of
other locations, between other national retailers, the carriers own
stores, and independent wireless stores to absorb the volume that
would have gone to RadioShack.  The two nationals [Verizon and
AT&T] will see RadioShack sales go to a combination of their
remaining national retail partners, their independent partners and
their own stores.  They both have plenty of distribution points.  I
don't think the loss of the RadioShack stores will create a
challenge."

Danielle Schlanger at Commercial Observer relates that the Company
has put all of its 68 New York City locations on the market.  New
York Business Journal says that Commercial real estate firm A&G
Realty Partners has devised a database of all of the the Company's
real estate.

                  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 to Hire MAEVA Group as Financial Advisors
----------------------------------------------------------------
RadioShack Corporation, et al., ask the U.S. Bankruptcy Court for
permission to employ MAEVA Group, LLC, as financial advisors nunc
pro tunc to the Petition Date.

MAEVA will, among other things:

   1. work with the senior management and other employees of the
debtors and their advisors to analyze and implement operational
restructuring initiatives;

   2. monitor the efficacy of recently-implemented cost reduction
and advise the Debtors on methods of increasing the impact of such
cost reductions; and

   3. assist management of the Debtors and their advisors in the
implementation of identified cost reduction initiatives.

MAEVA has provided prepetition advisory services to the Debtors.
During the one-year period prior to the commencement of the cases,
MAEVA has received $2,478,038 from the Debtors for professional
fees, charges and disbursements incurred prior to the Petition
Date.

In accordance with the terms of the engagement letter, the Debtors
will pay MAEVA:

   a. a monthly retainer of $500,000;

   b. a transaction fee of $3,250,000; and

   c. the Debtors will maintain a $250,000 deposit with MAEVA to
cover any unpaid expenses.

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

The Debtors requested that the Court consider the request at a
hearing on March 4, 2015, at 1:30 p.m.

                   About Radioshack Corporation

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

RadioShack Corporation and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. 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.


REALOGY HOLDINGS: Files 2014 Form 10-K, Posts $143MM Net Income
---------------------------------------------------------------
Realogy Holdings Corp. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
attributable to the Company of $143 million on $5.32 billion of net
revenues for the year ended Dec. 31, 2014, compared to net income
attributable to the Company of $438 million on $5.28 billion of net
revenues during the prior year.

As of Dec. 31, 2014, the Company had $7.53 billion in total assets,
$5.35 billion in total liabilities and $2.18 billion in total
equity.

"We are significantly encumbered by our debt obligations.  As of
December 31, 2014, our total debt, excluding our securitization
obligations, was $3,910 million (without giving effect to
outstanding letters of credit).  Our liquidity position has been,
and is expected to continue to be, negatively impacted by the
substantial interest expense on our debt obligations.  While we
intend to use a substantial portion of future free cash flow
generation to reduce our outstanding indebtedness, there can be no
assurance that we will be able to generate free cash flow from
operations or reduce the level of our indebtedness in the future,"
the Company stated in the 10-K Report.

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

                       http://is.gd/fEmszU

                   About Realogy Holdings Corp.

Realogy Holdings Corp. (NYSE: RLGY) is a global leader in
residential real estate franchising with company-owned real estate
brokerage operations doing business under its franchise systems as
well as relocation and title services.  Realogy's brands and
business units include Better Homes and Gardens(R) Real Estate,
CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R),
The Corcoran Group(R), ERA(R), Sotheby's International Realty(R),
NRT LLC, Cartus and Title Resource Group.  Collectively, Realogy's
franchise system members operate approximately 13,500 offices with
251,000 independent sales associates doing business in 104
countries around the world. Realogy is headquartered in Madison,
N.J.

                           *     *     *

In the Aug. 1, 2013, edition of the TCR, Moody's Investors Service
upgraded the corporate family rating of Realogy Group to to B2
from B3.  The upgrade to B2 CFR is driven by expectations for
ongoing strong financial performance, supported by Realogy's
recently-concluded debt and equity financing activities and a
continuing recovery in the US existing home sale market.

As reported by the TCR on Feb. 18, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Realogy Corp. to
'B+' from 'B'.

"The one notch upgrade in the corporate credit rating to 'B+'
reflects an increase in our expectation for operating performance
at Realogy in 2013, and S&P's expectation that total lease
adjusted debt to EBITDA will improve to the low-6x area and funds
from operations (FFO) to total adjusted debt will be improve to
the high-single-digits percentage area in 2013, mostly due to
EBITDA growth in the low- to mid-teens percentage area in 2013,"
S&P said.


REVEL AC: ACR Wants Casino Hotel Liquidated, Says Sale Deal Unfair
------------------------------------------------------------------
Hilary Russ at Reuters reports that ACR Energy Partners, Revel
Casino Hotel's electricity provider, has asked Bankruptcy Judge
Gloria Burns to convert Revel AC Inc.'s Chapter 11 case to Chapter
7 liquidation, saying the deal to sell the shuttered Revel Casino
Hotel to Glenn Straub is unfair.

The deal to sell the casino to Mr. Straub just $82 million would
leave the utility with nothing, Reuters relates, citing ACR Energy.
The report says that ACR Energy claimed it was owed more than $12
million before Revel filed for bankruptcy in June, and the casino
has racked up $20 million more in unpaid bills since then.  ACR
Energy said in a motion filed with the Bankruptcy Court on Feb. 25
that Revel's handling of the case has saddled the casino with "tens
of millions of dollars" of unnecessary costs and a bankruptcy loan
that will leave unpaid claims from ACR Energy and others.

ACR Energy, according to Wayne Parry at The Associated Press, has
threatened to cut off service without assurances its bills will be
paid.

ACR Energy claims that the casino has "no likelihood of
rehabilitation" and should be foreclosed under the control of a
trustee, who could sell assets more quickly without incurring high
administrative costs, Reuters states.

The sale deal will close by March 31, 2015, and Mr. Straub plans to
have at least part of what he envisions primarily as a recreational
complex open by summer, The AP relates, citing Stuart Moskovitz,
Esq., Mr. Straub's attorney.

                          About Revel AC

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

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

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

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

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

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

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



REVEL AC: Energy Provider Wants Ch. 11 Case Converted to Ch. 7
--------------------------------------------------------------
ACR Energy Partners, LLC, filed a motion asking the U.S. Bankruptcy
Court for the District of New Jersey to convert the Chapter 11
cases of Revel AC, LLC, et al., to one under Chapter 7 of the
Bankruptcy Code, complaining that "the Debtors' stewardship has
saddled the estates with tens of millions of dollars of wholly
unnecessary costs and a DIP Loan that guarantees that tens of
millions of dollars of legitimate claims, including those of ACR
Energy, will go unpaid."

ACR's counsel, Stuart M. Brown, Esq., at DLA Piper LLP (US), in
Atlantic City, New Jersey, tells the Court that despite the failed
sales transactions the Debtors have continued to advance the
interests of the DIP Lender to the detriment of the estates'
creditors, pushing toward a sale of the Debtors' assets through a
hopelessly flawed purchase agreement, on an expedited timeline, a
final hearing on the DIP Loan and a purported settlement of claims
between the Debtors, the DIP Lender, and the Official Committee of
Unsecured Creditors, which, at a minimum, demonstrates a gross
breach of the Debtors' fiduciary obligations.

The net effect of all of these steps taken together is that the DIP
Lender will guarantee itself all proceeds of an eventual sale of
the Debtors' assets without paying in full the costs of the
administration of these cases, including the expenses that are
within the purview of section 506(c) of the Bankruptcy Code, and
with no further contribution, save for a pittance thrown at
unsecured creditors, who will in reality see nothing, Mr. Brown
further tells the Court.

ACR is also represented by Timothy J. Lowry, Esq., and Richard A.
Chesley, Esq., at DLA PIPER LLP (US), Atlantic City, New Jersey.

                          About Revel AC

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

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

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

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

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

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

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


RIVIERA HOLDINGS: Las Vegas Convention to Buy Hotel-Casino
----------------------------------------------------------
Chris Sieroty, writing for Knprnews.org, reports that the Las Vegas
Convention and Visitors Authority has agreed to buy the Riviera
Holdings Corporation's Riviera Hotel-Casino for $182.5 million.

Knprnews.org relates that the Hotel-Casino will be demolished to
make way for the $3.2 billion Las Vegas Global Business District.

According to Knprnews.org, the sale agreement includes: (i)
$8.5 million for acquisition costs, including $3.5 million in fees
to be paid to Morgan Stanley, which represented the LVCVA in the
deal; and (ii) a lease-back provision that will allow the casino's
manager Paragon Gaming to continue to operate the resort and
prepare it for its eventual closure.

                      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 Dec. 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.



SABINE PASS: Moody's Assigns Ba3 Rating on New $1BB Secured Notes
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Sabine Pass
Liquefaction LLC's (SPL) new $1 billion of senior secured notes due
2025.  Concurrent with this rating assigned, Moody's affirmed SPL's
Ba3 underlying rating on its $9.2 billion of senior secured bank
loans and bonds. Moody's also affirmed Sabine Pass LNG, L.P.'s
(SPLNG) B1 rating on its $2.1 billion of senior secured bonds.  The
rating outlooks for SPL and SPLNG are stable.

The net bond proceeds are expected to reduce SPL's bank loan
commitments by $879 million with the remainder used to pay for
increased interest during construction and transaction costs.
Total debt after the bond issuance is expected to increase to
around $9.34 billion compared to $8.9 billion in May 2013.

The Ba3 rating assigned to SPL's new senior secured bonds and
affirmation of the existing Ba3 rating incorporates our view that
SPL's credit drivers remain commensurate with the rating even with
significant developments on construction progress and commodity
prices.  On the construction front, SPL has made substantial
construction progress with overall progress at 83.1% (versus 84.1%
planned) for Trains 1 & 2 and 56.5% (versus 57.5% planned) for
Trains 3 & 4 as of January 2015. However, direct construction
remains behind schedule at 63.7% complete (versus 67.8% planned)
for Trains 1 & 2 and 17.9% complete (versus 21.7% planned) for
Trains 3 &4.  The independent engineer states the project is behind
schedule from its target completion dates for Trains 1 & 2 and SPL
and Bechtel, the construction contractor, have taken actions to
address the delays.  For example, Moody's understand that the
availability of craft labor is a major cause of the delay and SPL
has agreed to pay additional labor compensation to Bechtel to
ensure SPL achieves its target completion dates, which have not
changed.  Train 1 is still targeted for completion in February
2016.  Furthermore, higher financing costs, higher owner's costs,
and increased costs under the Bechtel construction contracts such
as the higher labor costs described above have substantially
lowered the construction contingency from the $889 million
originally budgeted. The combination of construction delays and
construction contingency's substantial depletion are credit
concerns albeit manageable ones within the project's overall
financial flexibility.  Ultimately, Moody's see the Ba3 rating as
capturing both the positive and negative construction developments
and Moody's still incorporate the assumption that the project will
not be substantially delayed or incur major cost overruns.

Separately, Moody's also see the recent decline of oil prices as
potentially providing some relief on craft labor availability
during the construction period but significantly weakening SPL's
competitiveness relative to international competitors who sell at
oil indexed prices.  On the former, Moody's understand the craft
labor market still remains tight although the large announced
capital spending and labor cuts in the US oil and gas industry
should add to labor supply in the next six to twelve months.  On
the later, Moody's take comfort from SPL's off-take contracts with
investment grade counterparties that provide a stable source of
revenues that will allow the project to comfortably service its
debt during operations irrespective of oil prices.  Under Moody's
Case, Moody's estimate SPL will have a pro-forma DSCR around 1.48x
assuming a fully amortizing debt structure. Moody's Case
incorporates several conservative adjustments such as the exclusion
of merchant sales and the variable margin on LNG sales under the
off-take contracts.

The Ba3 rating on the new senior secured bonds also incorporates
Moody's expectation that new bonds will have substantially the same
terms as SPL's previous senior secured bonds including materially
weak covenants regarding additional indebtedness, restricted
payments, and affiliate contracts.  For now, bondholders continue
to indirectly benefit from the senior secured bank loans that
contain mostly traditional project finance protections.  However,
the diminished size of the bank loan at around $1.8 billion (20% of
total debt) increases the likelihood that the bank loan will be
fully refinanced in the future resulting in bondholders losing the
indirect protection of the bank loan's stronger covenants.  Given
the bond indenture's significantly looser terms, Moody's view such
an event as credit negative for the bondholders, assuming all else
is equal.

Beyond recent developments, the main credit factors supporting
SPL's underlying Ba3 senior secured rating are its long-term
contract with investment grade off-takers, the possibility of 'Baa'
financial metrics emerging during operations, and EPC contracts
with Bechtel.  Sizeable third party equity investment of $2
billion, mostly traditional project finance protections for the
senior secured bank loans, and the utilization of existing
infrastructure are also considered positive factors.  Key credit
risks include the considerable construction challenges including a
reliance on $1.8 billion of operating cash flow to fund
construction, operating period execution risks such as sourcing gas
feedstock, sizeable risk management challenges during operation
including material working capital requirements, major debt
maturities from 2020 through 2024, and SPL's historical
inexperience at operating liquefaction plants.  Other key
considerations include management's aggressive financial policies,
debt at Creole Trail Pipeline (CTPL) that indirectly increases
leverage, uncertainties on Train 5 & 6 expansion, and a debt
service reserve that will be funded from operating cash flow.

SPLNG's B1 rating reflects long-term contracts with highly rated
third parties for approximately 50% of revenues, acceptable
operational performance since 2009, and some project finance
protections.  An affiliate contract with SPL should also provide
greater cash flow certainty once SPL achieves operations.  The B1
rating also considers SPLNG's high standalone leverage, uneconomic
competitive position, large debt maturity in 2016 that coincides
with SPL's construction period, and likely continuation of low
financial metrics until SPL reaches commercial operations. Until
the start of SPL LNG trains, Moody's expect SPLNG will achieve an
interest coverage ratio of around 1.2 to 1.4 times and FFO/Debt of
only 2% to 3%, which is consistent with recent financial
performance.

SPL and SPLNG's stable rating outlook reflects our assumption that
SPL's construction will be completed without substantial delay or
cost overruns.  It also considers our expectation that SPL and
SPLNG will meet their performance obligations under their
respective off-take contracts.

SPL and SPLNG's ratings are unlikely to be positively affected in
the near term given SPL's delays in construction and remaining
construction contingency.  Positive trends that could lead to an
upgrade include SPL's successful construction completion of
multiple LNG trains, demonstrated good operational performance at
SPL and SPLNG and the two borrowers' ability to address their
upcoming debt maturities.

SPL and SPLNG's ratings could be downgraded if SPL incurs
significant construction cost overruns or delays, if SPLNG incurs
major operating problems or if Trains 5 & 6 add further significant
financial and construction risk.  SPL and SPLNG's ratings could
also face negative rating action if SPL's feedstock sourcing
strategy introduces significant imperfections or cash flow
volatility or if any of SPL's governmental authorizations are
revoked or limited.

Sabine Pass Liquefaction LLC (SPL) expects to build and operate a
nameplate 18 million ton per annum (mtpa) liquefied natural gas
(LNG) project located in Cameron Parish, Louisiana next to the
existing Sabine Pass LNG L.P.'s regasification plant (SPLNG).
SPL's output is effectively contracted with BG Group, Gas Natural
SA, Korea Gas Corporation, and GAIL under 20 year off-take
contracts.  Cheniere Energy Partners (CQP) owns SPL.  CQP is
directly or indirectly owned by private equity funds managed by
Blackstone, Cheniere Energy, and public investors.

The principal methodology used in these ratings was Generic Project
Finance Methodology published in December 2010.


SABINE PASS: Moody's Says $2BB Bond Upsize is Credit Negative
-------------------------------------------------------------
Moody's Investors Service viewed the bond upsizing by $1 billion at
Sabine Pass Liquefaction LLC's (SPL) senior secured bond issuance
to $2 billion from $1 billion as modestly credit negative but this
does not affect SPL's Ba3 rating on its senior secured debt nor its
stable outlook.  Assuming $2 billion of new senior secured bonds
due 2025 are issued, net debt will increase by an aggregate of $220
million compared to the $9.2 billion of total debt including
committed bank lines.  This debt issuance will result in a moderate
reduction in proforma operating period financial metrics although
Moody's still believe that when completed, SPL's financial metrics
under Moody's Case could be in the 'Baa' rating category.  Total
debt after the bond issuance is estimated at around $9.4 billion
compared to $8.9 billion in May 2013.

Sabine Pass Liquefaction LLC (SPL) expects to build and operate a
nameplate 18 million ton per annum (mtpa) liquefied natural gas
(LNG) project located in Cameron Parish, Louisiana next to the
existing Sabine Pass LNG L.P.'s regasification plant (SPLNG).
SPL's output is effectively contracted with BG Group, Gas Natural
SA, Korea Gas Corporation, and GAIL under 20 year off-take
contracts.  SPLNG owns and operates a liquefied natural gas
receiving terminal with an aggregate regasification capacity of
four Bcf/d and five LNG storage tanks.  SPLNG has third party
20-year contracts for half of the capacity.  SPL expects to utilize
SPLNG's existing infrastructure including storage tanks and marine
terminal under an affiliate contract.  Cheniere Energy Partners
(CQP) owns SPL, SPLNG, and the Creole Trail Pipeline (CTPL).  CQP
is directly or indirectly owned by private equity funds managed by
Blackstone, Cheniere Energy, and public investors.


SABINE PASS: S&P Assigns 'BB+' Rating on Proposed $1BB Sr. Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB+'
project issue rating and '2' recovery rating to Sabine Pass
Liquefaction LLC's (SPLIQ) proposed $1 billion senior secured notes
due 2025.  S&P also affirmed its 'BB+' debt issue ratings and left
the '2' recovery rating unchanged on SPLIQ's existing senior
secured credit facilities.  S&P also assigned its 'BB+' debt and
'2' recovery ratings to SPLIQ's senior secured notes issued in 2014
and due 2024.  The outlook is stable.

"Key financial measures will not change materially due to the
planned $1 billion debt issuance," said Standard & Poor's credit
analyst Terry Pratt.

Of note, SPLIQ may issue a larger amount of notes, but S&P would
expect a similar matching reduction of credit facility capacity
that would leave the overall debt level higher and financial
measures slightly weaker than S&P's current expectations with a $1
billion issuance.

The stable outlook reflects S&P's assessment of favorable current
construction progress and counterparty ratings above the project
rating.



SEADRILL LTD: Bank Debt Trades at 19% Off
-----------------------------------------
Participations in a syndicated loan under Seadrill Ltd is a
borrower traded in the secondary market at 80.71 cents-on-the-
dollar during the week ended Friday, Feb. 27, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.61
percentage points from the previous week, The Journal relates.
Seadrill Ltd pays 300 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 17, 2021.  The bank debt
carries Moody's B2 and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 216 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



SEARS HOLDINGS: Fairholme Reports 23.9% Stake as of Feb. 25
-----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Fairholme Capital Management, L.L.C. disclosed that as
of Feb. 25, 2015, it beneficially owned 25,452,373 common shares of
Sears Holdings Corporation which represents 23.9 percent based upon
the 106,507,702 Shares outstanding as of  Nov. 28, 2014, according
to the Issuer.

Bruce R. Berkowitz, who controls the sole member of Fairholme,
beneficially owned 26,365,373 common shares as of that date.

The Reporting Persons previously disclosed that pursuant to the
Amended and Restated Participation Agreement, dated Sept. 30, 2014,
The Fairholme Partnership, LP, a private fund affiliated with the
Reporting Persons, purchased a 6.25% participation interest in the
$400 million secured short-term loan disclosed on the 8-K filed by
the Issuer on Sept. 15, 2014, from entities affiliated with ESL
Investments, Inc.  

On Feb. 25, 2015, three subsidiaries of the Issuer entered into an
amendment to the Short-Term Loan with entities affiliated with ESL
Investments, Inc., which was effective Feb. 28, 2015, to extend the
Short-Term Loan that is secured by mortgages on certain real
property of the Issuer and its subsidiaries.  Under the terms of
the Amendment, the Issuer will repay $200 million of the Short-Term
Loan on March 2, 2015, and, in connection with this repayment, the
Lenders have agreed to release approximately one half of the value
of the pledged collateral.  The remaining $200 million of the
Short-Term Loan will be extended until the earlier of June 1, 2015,
or the date of receipt by the Issuer of sale proceeds pursuant to a
sale/leaseback or similar transaction involving the sale or other
transfer by the Issuer of at least 200 Issuer properties to a newly
formed real estate investment trust capitalized in part through a
rights offering to the Issuer's stockholders, which is under
consideration by the Issuer.  The Short-Term Loan will continue to
have an annual base interest rate of 5% on the principal amount
outstanding.

Upon repayment of $200 million of the Loan on March 2, 2015, the
Lenders intend to repay on March 3, 2015, one half of the
Partnership's 6.25% participation interest in the Short-Term Loan.

The Reporting Persons and their affiliates said they may acquire,
hold or sell participations in the Short-Term Loan or other
indebtedness of the Issuer, and may discuss other potential debt or
equity investments in the Issuer and its affiliates, from time to
time.  

The Reporting Persons reserve the right to be in contact with
members of the Issuer's management, the members of the Issuer's
Board of Directors, other significant shareholders and others
regarding alternatives that the Issuer could employ to increase
shareholder value.

The Reporting Persons reserve the right to effect transactions that
would change the number of shares they may be deemed to
beneficially own.

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

                       http://is.gd/7CZW5b

                           About Sears

Hoffman Estates, Illinois-based Sears Holdings Corporation
(Nasdaq: SHLD) -- http://www.searsholdings.com/-- operates full-
line and specialty retail stores in the United States and Canada.
Sears Holdings operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation.  Sears Holdings also owns a
94 percent stake in Sears Canada and an 80.1 percent stake in
Orchard Supply Hardware.  Key proprietary brands include Kenmore,
Craftsman and DieHard, and a broad apparel offering, including
such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer,
as well as the Apostrophe and Covington brands.  It also has the
Country Living collection, which is offered by Sears and Kmart.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  John Wm. "Jack" Butler, Jr., Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, represented the retailer in its
restructuring efforts.  The Company's balance sheet showed
$16,287,000,000 in assets and $10,348,000,000 in debts when it
sought chapter 11 protection.  Kmart bought Sears, Roebuck & Co.,
for $11 billion to create the third-largest U.S. retailer, behind
Wal-Mart and Target, and generate $55 billion in annual revenues.
Kmart completed its merger with Sears on March 24, 2005.

The Company's balance sheet at Nov. 2, 2013, showed $20.20 billion
in total assets, $17.88 billion in total liabilities and $2.32
billion in total equity.

                           Junk Rating

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year. The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period. For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year. Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014. "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."


SEVEN ARTS: Suspending Filing of Reports with SEC
-------------------------------------------------
Seven Arts Entertainment, Inc. filed a Form 15 with the Securities
and Exchange Commission to terminate the registration of its common
stock under Section 12(g) of the Securities Exchange Act of 1934.
As of Feb. 25, 2015, there were only 50 holders of record of the
common stock.  As a result, the Company's duty to file any reports
required under section 13(a) will be suspended.

                          About Seven Arts

Los Angeles-based Seven Arts Entertainment, Inc. (OTC QB: SAPX)
was founded in 2002 as an independent motion picture production
and distribution company engaged in the development, acquisition,
financing, production and licensing of theatrical motion pictures
for exhibition in domestic (i.e., the United States and Canada)
and foreign theatrical markets, and for subsequent worldwide
release in other forms of media, including home video and pay and
free television.

The Hall Group, CPAs, in Dallas, Texas, expressed substantial
doubt about the Company's ability to continue as a going concern
following the financial results for the year ended June 30, 2013,
citing the Company's recurring losses from operations and net
capital deficiency.

The Company reported a net loss of $22.4 million on $1.52 million
of total revenue for the fiscal year ended June 30, 2013, compared
with a net loss of $11.15 million on $4.06 million of total
revenue in 2012.

As of Dec. 31, 2013, Seven Arts had $16.9 million in total assets,
$24.3 million in total liabilities and a $7.42 million total
shareholders' deficit.


SHIVEM INC: Files for Ch 11, Sec. 341(a) Meeting Set for March 16
-----------------------------------------------------------------
Shivem, Inc., filed for Chapter 11 bankruptcy protection (Bankr. D.
Md. Case No. 15-11745) on Feb. 6, 2015.  Augustus T. Curtis, Esq.,
at Cohen, Baldinger & Greenfeld, LLC, serves as the Company's
bankruptcy counsel.

A Sec. 341(a) meeting will be held on March 16, 2015, at 1:00 p.m.
at 341 meeting room 6th Floor at 6305 Ivy Ln., Greenbelt.  Proofs
of claim must be filed by June 15, 2015.

Shivem, Inc., is headquartered in Laurel, Maryland.


SIGA TECHNOLOGIES: Court Sets March 20 as Claims Bar Date
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York set
March 30, 2015, at 5:00 p.m. (Eastern Time) as deadline for
creditors of SIGA Technologies Inc. to file their proofs of claim.
All claims must be filed either:

   i) the Debtor's court-approved claims agent, Prime Clerk LLC at

      https://cases.primeclerk/siga/EPOC-Index; or

  ii) by delivering the original proofs of claim from by hand, or
      mailing the original proof of claim form, as follows:

      a) If by overnight courier or first class mail, by hand
         delivery to:

         SIGA Technologies Inc.
         Claims Processing Center
         c/o Prime Clerk LLC
         830 3rd Avenue, 9th Floor
         New York, NY 10022

      b) U.S. Bankruptcy Court SDNY
         One Bowling Green, Room 534
         New York, NY 1004-1408

                     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.


SILVERSUN TECHNOLOGIES: Amends Form S-1 Prospectus with SEC
-----------------------------------------------------------
Silversun Technologies, Inc., filed with the Securities and
Exchange Commission an amended Form S-1 prospectus relating to the
offering of 746,964 shares of its common stock and warrants to
purchase 373,482 shares of its Common Stock.  The investment in the
Company's Common Stock is not linked to the investment in the
warrants and the securities are being offered separately.  The
Company amended the Registration Statement to delay its effective
date.

The warrant to purchase one share of Common Stock will have an
exercise price of $[   ] per share (125% of the public offering
price of the Common Stock).  The warrants are exercisable
immediately and will expire five years from the date of issuance.
Currently, the Company's Common Stock is quoted on the OTCQB
Marketplace operated by the OTC Markets Group, under the symbol
"SSNT".  Currently, there is no market for the Company's warrants.
The last reported sale price of the Company's Common Stock on the
OTCQB on Feb. 25, 2015, was $5.35 per share.  On
Feb. 4, 2015, the Company effected a 1-for-30 reverse stock split
of its outstanding common stock.

A copy of the amended prospectus is available for free at:

                        http://is.gd/SyqO3v

                          About SilverSun

Livingston, N.J.-based SilverSun Technologies, Inc., formerly
known as Trey Resources, Inc., focuses on the business software
and information technology consulting market, and is looking to
acquire other companies in this industry.  SWK Technologies, Inc.,
the Company's subsidiary and the surviving company from the
acquisition and merger with SWK, Inc., is a New Jersey-based
information technology company, value added reseller, and master
developer of licensed accounting and financial software published
by Sage Software.  SWK  Technologies also publishes its own
proprietary supply-chain software, the Electronic Data Interchange
(EDI) solution "MAPADOC."  SWK Technologies sells services and
products to various end users, manufacturers, wholesalers and
distribution industry clients located throughout the United
States, along with network services provided by the Company.

Silversun Technologies posted net income of $323,000 on $17.4
million of net total revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $1.23 million on $13.2 million of net
total revenues for the year ended Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $5.12 million in total
assets, $4.89 million in total liabilities and $238,000 in total
stockholders' equity.


SPENDSMART NETWORKS: Chief Revenue Officer & Secretary Named
------------------------------------------------------------
Charles Gerencser was appointed the chief revenue officer of
SpendSmart Networks, Inc., on Feb. 21, 2015, according to a Form
8-K filed with the Securities and Exchange Commission.

Mr. Gerencser, 41, has been the vice president of sales at the
Company since June 2013.  Prior to that role, he served as an
independent sales director at Gannett & The McClatchy Company.

There are no other arrangements or understandings between Mr.
Gerencser and any other person pursuant to which Mr. Gerencser was
appointed as chief revenue officer.  

                     Boris Appointed Secretary

On Feb. 21, 2015, Mr. Timothy Boris, the current general counsel of
the Company was appointed secretary.

Mr. Boris, 46, has served as the general counsel of the Company
since Jan. 20, 2015.  Prior to that role, Mr. Boris served as
general counsel to RestorGenex Corporation from 2011 until January
2015.  Prior to his role with RestorGenex Corporation, Mr. Boris
was in private practice.

There are no other arrangements or understandings between Mr. Boris
and any other person pursuant to which Mr. Boris was appointed as
Secretary of the Company.

                     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.


SPROUTS FARMERS: Moody's Says 4th Qtr Results is Credit Positive
----------------------------------------------------------------
Moody's Investors Service said that Sprouts Farmers Market Inc.'s
(Ba3/positive) strong financial results for the fourth quarter and
fiscal year ending Jan. 31, 2015 are a credit positive.  The
company reported a strong 8.5% same store sales growth in the
fourth quarter driven by both traffic and higher average ticket.
For the fiscal year 2014 the company reported industry leading 9.9%
same store sales growth.  The company's operating margin of 6.7%
for fiscal year 2014 demonstrated a 100 basis point improvement
compared to fiscal 2013 despite price investments.  The strong
operating performance of Sprouts demonstrates that organic, natural
and specialty product offerings of the company offered at a lower
price point than competitors continue to resonate with consumers.

Sprouts Farmers Market, Inc. is a grocery store operators operating
195 stores in twelve states. Fiscal 2014 revenues were about $3.0
billion.

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



SRC COMPUTERS: Foreclosure Auction Moved
----------------------------------------
The public, non-judicial foreclosure sale of all of the rights,
title and interest of SRC Computers LLC was moved to 10:00 a.m.
(Central Time) on Feb. 27, 2015.  Freeman Capital Partners LP was
to conduct the auction.

As reported by the Troubled Company Reporter, the foreclosure sale
was originally slated for Feb. 13, 2015.

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

  a) Brandon Freeman of Freeman Capital
     Tel: 214.550.1222

     - or -

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


STEREOTAXIS INC: Posts $856,000 Net Income for Fourth Quarter
-------------------------------------------------------------
Stereotaxis, Inc. reported net income of $857,000 on $9.75 million
of total revenue for the three months ended Dec. 31, 2014, compared
to a net loss of $3.96 million on $9.06 million of total revenue
for the same period in 2013.

For the 12 months ended Dec. 31, 2014, the Company reported a net
loss of $5.20 million on $35.01 million of total revenue compared
to a net loss of $68.8 million on $38.01 million of total revenue
during the prior year.

As of Dec. 31, 2014, Stereotaxis had $23.9 million in total assets,
$36.4 million in total liabilities and a $12.54 million total
stockholders' deficit.

At Dec. 31, 2014, Stereotaxis had cash and cash equivalents of $7.3
million, compared to $8.7 million at Sept. 30, 2014, and $13.8
million a year ago.  Cash burn for the fourth quarters of 2014 and
2013 was $1.4 million.  At year end, total debt was $18.4 million
related to HealthCare Royalty Partners long-term debt.

Cash burn for 2014 was $9.2 million, compared to $6.3 million in
the prior year.

William C. Mills, Stereotaxis chief executive officer, said, "We
achieved an operating profit in the fourth quarter, the first in
Company history, reflecting our ongoing emphasis on both
operational efficiencies and clinical adoption through
technological innovation, as well as a sequential improvement in
quarterly capital sales.  Our focus on these objectives over the
course of the year resulted in record recurring revenue and our
lowest reported annual operating loss and net loss since our IPO,
despite challenges in new Niobe system sales for much of the
year."

"Our leadership in robotic navigation solutions for the cardiac
ablation market was further affirmed in December, when we surpassed
75,000 worldwide procedures performed with our remote magnetic
navigation system," Mr. Mills continued.  "During 2014, we
aggressively worked to drive clinical adoption and awareness around
the efficacy of our technologies and successfully improved
utilization in the fourth quarter by 9% year over year and 12%
sequentially.  We continue to focus on helping physicians realize
the significant clinical benefits of a fully remote,
computer-assisted procedure environment."

Mr. Mills concluded, "As we move into 2015, we look forward to
building on our positive momentum in Japan, where we secured a
second system order during the quarter, along with leveraging the
release of our Vdrive robotic navigation platform in the U.S. and
continuing to develop powerful software features that further
enhance our platform.  We have proven we can achieve profitability
and believe we can drive increased market penetration and long-term
shareholder value with our commitment to improve the practice of
cardiac interventional medicine."

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

                        http://is.gd/Ils9Nn

                         About Stereotaxis

Based in St. Louis, Missouri, Stereotaxis, Inc., is a manufacturer
and developer of a suite of navigation systems in interventional
surgical procedures.  The Company's Epoch Solution is used in the
treatment of arrhythmias and coronary artery disease.

Ernst & Young LLP, in St. Louis, Missouri, 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 recurring operating losses and has a
net capital deficiency.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.


TANK HOLDING: Moody's Rates New $440MM Term Loan 'B1'
-----------------------------------------------------
Moody's Investors Service affirmed Tank Holding Corp.'s B2
Corporate Family Rating and B2-PD Probability of Default Rating and
assigned B1 ratings to the proposed $440 million term loan and $50
million revolver.  Proceeds from the issuance will be used to
refinance its existing facilities and pay an estimated $126 million
distribution to its shareholders.  The rating outlook is stable.

Tank Holding Corp.

Ratings assigned:

  -- $440 million senior secured term loan at B1 (LGD3)

  -- $50 million senior secured revolver at B1 (LGD3)

Ratings affirmed:

  -- Corporate Family Rating at B2

  -- Probability of Default Rating at B2-PD

The ratings assigned are subject to Moody's review of final
documentation upon the close of the proposed refinancing.  The
existing ratings on the senior secured credit facilities will be
withdrawn upon repayment.

"While the shareholder dividend increases debt/EBITDA to
approximately 6.2 times, the rating affirmation is supported by
Moody's expectation of meaningful deleveraging that will come
primarily through repaying debt," said Moody's Analyst, Morris
Borenstein.  Moody's views the dividend recapitalization as
aggressive, resulting in high financial leverage.  However, the
company has a good track record in deleveraging and Moody's expects
relatively stable performance and a turn of deleveraging over the
next 12-18 months.

The B2 Corporate Family Rating reflects the company's small revenue
base of roughly $275 million, significant end market concentration
within the agricultural segment, moderate exposure to the oil & gas
sector, and high leverage which Moody's expects will be elevated
over the next 12-18 months.  These considerations are partially
offset by Tank's strong position within its end markets, its
national presence through its dealer network and other sales
channels, its strong operating margins, and good cash generating
ability.

The rating outlook is stable. Moody's believes Tank will experience
some softness in its agriculture and oil & gas end markets but
should maintain stable performance such that leverage declines
below 6 times at year end with cash flow that will be used for debt
repayment.

Tank's ratings could be downgraded if the pace of deleveraging is
slower than expected.  Such scenarios for this include large
debt-financed acquisitions, material weaknees in operating
performance or a subsequent dividend recap.

Tank's ratings are not likely to be upgraded in the near term.
However, over time the ratings could be upgraded if debt to EBITDA
were sustained below 4.0 times and free cash flow to debt sustained
in the low double digits.

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.

Tank Holding Corp. and its wholly-owned subsidiaries, Snyder
Industries, Inc. and Norwesco, Inc. are engaged in the
manufacturing and distribution of rotationally-molded polyethylene
and steel tanks, containers, bins and pallets for agricultural,
water, industrial, food and beverage, and on-site water treatment
applications, among others.  In addition, the company markets
valves, couplers, adapters, lids and other accessories related to
the use of its tanks.  Tank is controlled by affiliates of Leonard
Green & Partners, L.P. Revenue for the twelve months ended Sep. 30,
2014 was approximately $277 million and is primarily derived from
operations in the U.S. and Canada.


TANK HOLDING: S&P Affirms 'B' CCR; Outlook Stable
-------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Lincoln, Neb.-based Tank Holding Corp.  The rating
outlook is stable.

At the same time, S&P assigned a 'B' issue-level rating to the
company's proposed $440 million first-lien term loan due 2022 and
$50 million revolving credit facility due 2021, which will be
undrawn at close.  The '3' recovery rating indicates S&P's
expectation for meaningful recovery (50% to 70%) in the event of
payment default.  S&P's recovery expectations are in the lower half
of the 50% to 70% range.

S&P will withdraw its ratings on Tank's existing debt following the
completion of the transaction.

"The affirmation reflects our belief that Tank will maintain
leverage of 5x to 6x and funds from operations [FFO] to total debt
in the high single digits," said Standard & Poor's credit analyst
Terence Lin.  Pro forma for the transaction, the company's debt to
EBITDA ratio increases to about 6x from 5x as of Sept. 30, 2014.

The stable outlook on Tank reflects S&P's expectation that the
company will focus on improving credit protection measures during
the 12 to 24 months following the close of the transaction,
including reducing leverage to below 6x by 2016.  S&P expects Tank
to maintain good EBITDA margins by managing raw material costs
efficiently.

S&P could lower the rating if debt to EBITDA exceeds 6x and S&P
expects it to remain elevated for two years.  This could occur if
slower GDP growth led to weak demand for Tank's products or if Tank
was unable to pass on increasing resin prices to customers, which
in turn hurts margins.  S&P could also lower the rating if it
expects Tank's liquidity to become less than adequate.

S&P could raise the rating if the company reduces leverage to less
than 5x and it stays there for an extended period, which could
occur if it consistently uses free cash flow for debt repayment.  A
higher rating would also require the company to adopt a less
aggressive financial policy.



TARGETED MEDICAL: Obtains $1.2 Million Loan from Shlomo Rechnitz
----------------------------------------------------------------
Targeted Medical Pharma, Inc., entered into an unsecured promissory
note pursuant to which the Company received the principal amount of
$1.2 million, from Shlomo Rechnitz, according to a document filed
with the Securities and Exchange Commission.  The Promissory Note
accrues interest at 4% per annum, throughout its term, and has a
maturity date of Feb. 22, 2017.  Principal and interest on the
Promissory Note is payable in monthly installments of $52,109.91,
beginning on March 22, 2015, and continuing until Feb. 22, 2017.
The loan closed on Feb. 24, 2015. The Company plans to use the
proceeds of the loan for working capital and general corporate
purposes.

The Promissory Note contains customary events of default.  In
addition, the Promissory Note provides that an event of default
shall occur if (i) David S. Silver, MD ceases to serve as an
employee of the Company under certain circumstances or (ii) William
E. Shell, MD returns as an employee of the Company.  Upon the
occurrence and continuance of an event of default, the Lender may
declare the outstanding amount due and payable and exercise other
rights and remedies.

                      About Targeted Medical

Los Angeles, Calif.-based Targeted Medical Pharma, Inc., is a
specialty pharmaceutical company that develops and commercializes
nutrient- and pharmaceutical-based therapeutic systems.

Targeted Medical reported a net loss of $9.33 million on
$9.55 million of total revenue for the year ended Dec. 31, 2013,
as compared with a net loss of $9.58 million on $7.29 million of
total revenue in 2012.

Marcum LLP, in Irvine, CA, 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 significant net losses since its inception, and has
an accumulated deficit of $23.0 million as of Dec. 31, 2013, and
incurred a net loss of $9.34 million and negative cash flows from
operations of $2.047 million for the year ended Dec. 31, 2013.

The Company's balance sheet at Sept. 30, 2014, showed $3.22 million
in total assets, $11.9 million in total liabilities, and a $8.70
million stockholders' deficit.


TASC INC: S&P Raises Rating on $945MM 1st Lien Debt to 'BB-'
------------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its corporate
credit rating on Chantilly, Va.-based TASC Inc.

"The withdrawal follows the acquisition of the company by Engility
Holdings Inc.," said Standard & Poor's credit analyst David Tsui.

TASC will be a wholly-owned subsidiary of Engility following the
acquisition.

At the same time, S&P raised its rating on TASC's $945 million
senior secured first-lien credit facility to 'BB-' (one notch above
the 'B+' corporate credit rating on Engility) from 'B+'.  The
facility consists of a $115 million revolving credit facility due
2019 and a $830 million first-lien term loan due 2020.  The
recovery rating remains '2', indicating S&P's expectation for
substantial (70%-90%) recovery in the event of a payment default.
S&P also raised its rating on the company's $400 million senior
secured second-lien term loan to 'B-' (two notches below the 'B+'
corporate credit rating on Engility) from 'CCC+'.  The recovery
rating remains '6', indicating S&P's expectation for negligible
(0%-10%) recovery in the event of a payment default.



TEAM HEALTH: S&P Affirms 'BB' CCR; Outlook Remains Stable
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on Team Health Inc. on Feb. 25, 2015.  The outlook
remains stable.  At the same time, S&P affirmed its 'BB' rating on
the company's first-lien credit facilities.

"Team Health's flexible cost structure and experience managing
consolidation has resulted in steady growth over the years," said
Standard & Poor's credit analyst Tulip Lim.  S&P believes the
company's position as a leading player and established reputation
as a consolidator provides it with good prospects for further
growth.  Nonetheless, the company's business is very narrow.  Its
primary business, emergency medicine staffing, generates 70% of its
revenue.  The company is also subject to significant reimbursement
risk from the government because Medicare and Medicaid account for
about 17% and 12%, respectively, of total net revenue.  Any adverse
revision of government payments or regulations can have a large
adverse impact on the company.  However, S&P do not expect
meaningful rate decreases in physician fees for emergency medicine
over the next few years, particularly since subsidies are often
provided for the company's services.  For these reasons, S&P has
revised the company's business risk score to "fair" from "weak".

The rating outlook on Team Health is stable, reflecting S&P's
expectation for continued growth (though not to the scale of higher
rated peers) and leverage that remains in the mid- to high-2x area
over the next couple of years.

S&P could consider lowering the rating if leverage rose and it
expected it to be sustained above 3x.  S&P sees two viable
scenarios in which this could occur.  One is if the company
financed more than $300 million of acquisitions with debt.  In the
second scenario, leverage could exceed 3x, if revenue growth
stalled and integration difficulties resulted in a 50 basis point
or more decline in margins.

Although S&P considers an upgrade unlikely over the near term, it
could raise the rating if the company's scale or diversity
increased such that S&P perceived the company to be in line with
peers rated 'BB+' and it is confident the company will keep
leverage in the low-2x area, even assuming moderately high
acquisition activity.



TECHNICAL EXPERTISE: Involuntary Chapter 11 Case Summary
--------------------------------------------------------
Alleged Debtor: Technical Expertise & Management in               
                Communications, LLC
                943 N. Acacia Dr.
                Gilbert, AZ 85233

Case Number: 15-01951

Involuntary Chapter 11 Petition Date: February 26, 2015

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

Judge: Hon. Paul Sala

Petitioners' Counsel: KELLY MCCOY, PLC
                      340 East Palm Lane, Suite 300
                      Phoenix, AZ 85004
                      Tel: 602-687-7433

   Petitioners                  Nature of Claim  Claim Amount
   -----------                  ---------------  ------------
Arizona Hi-Lift, LLC            Equipment          $103,344
Attn: Douglas A. Click          Rental
830 S. 23rd Avenue
Phoenix, AZ 85009

Holden Willits, PLC             Unpaid               $2,479
Attn: Barry A. Willits          Professional
2 N. Central Avenue             Services
Suite 1200
Phoenix, AZ 85004

Thomas G. Luikens, P.C.         Unpaid               $3,692
Attn: Thomas G. Luikens         Professional
4227 N. 32nd St.                Services
1st Floor
Phoenix, AZ 85018


TRANSGENOMIC INC: Offering 3.5 Million Common Shares
----------------------------------------------------
Transgenomic, Inc., announced an underwritten public offering of
3,573,899 shares of the company's common stock and corresponding
warrants to purchase 714,780 shares of the company's common stock.

Each share of Common Stock is being sold in combination with a
warrant to purchase 0.20 of a share of Common Stock.  The purchase
price to the public for each share of Common Stock and accompanying
warrant is $1.95.

After the underwriting discount and estimated offering expenses
payable by the company, Transgenomic expects to receive net
proceeds of approximately $6.2 million.  The offering is expected
to close on or about March 4, 2015, subject to customary closing
conditions.

Craig-Hallum Capital Group LLC is acting as the sole managing
underwriter of the offering.

The company plans to use the net proceeds from the offering for
working capital and general corporate purposes.

                        About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global
biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

The Company reported a net loss available to common stockholders
of $16.7 million in 2013, a net loss available to common
stockholders of $8.98 million in 2012 and a net loss available to
common stockholders of $10.8 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $30.8
million in total assets, $20.6 million in total liabilities and
$10.2 million in stockholders' equity.


TRAVELPORT WORLDWIDE: Posts $86 Million Net Income for 2014
-----------------------------------------------------------
Travelport Worldwide Limited filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
attributable to the Company of $86 million on $2.14 billion of net
revenue for the year ended Dec. 31, 2014, compared to a net loss
attributable to the Company of $206 million on $2.07 billion of net
revenue for the year ended Dec. 31, 2013.  As at Dec. 31, 2014,
Travelport had $2.89 billion in total assets, $3.23 billion in
total liabilities and a $338 million total deficit.  A full-text
copy of the Form 10-K is available for free at:

                       http://is.gd/N95OA2

                    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.


TXU CORP: Bank Debt Trades at 38% Off
-------------------------------------
Participations in a syndicated loan under which TXU Corp. is a
borrower traded in the secondary market at 62.15 cents-on-the-
dollar during the week ended Friday, February 27, 2015, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 0.77
percentage points from the previous week, The Journal relates.
TXU Corp. pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 10, 2017 and carries
Moody's Caa3 rating and Standard & Poor's CCC- rating.  The loan
is one of the biggest gainers and losers among 216 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



UNI-PIXEL INC: Reports $25.6 Million Net Loss for 2014
------------------------------------------------------
Uni-Pixel, Inc. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$25.7 million on $0 of revenue for the year ended Dec. 31, 2014,
compared with a net loss of $15.2 million on $5.08 million of
revenue during the prior year.

For the three months ended Dec. 31, 2014, the Company reported a
net loss of $7.8 million on $0 of revenue compared to a net loss of
$6.13 million on $11,400 of revenue for the same period a year
ago.

In the fourth quarter of 2014, the company did not generate
revenues as it focused on manufacturing process development.  For
the full year of 2014, the company had no revenues as compared to
$5.1 million in 2013.  The revenue in 2013 was primarily due to a
$5 million non-recurring engineering payment from a PC
manufacturer.

As of Dec. 31, 2014, Uni-Pixel had $34.91 million in total assets,
$7.55 million in total liabilities and $27.4 million in total
shareholders' equity.

Cash and cash equivalents totaled $23.7 million at Dec. 31, 2014,
as compared to $26.8 million at Sept. 30, 2014.

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

                       http://is.gd/K81WPi

                       About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company
delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.


UNIVERSITY GENERAL: Case Summary & 30 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

   Debtor                                          Case No.
   ------                                          --------
   University General Health System, Inc.          15-31086
   7501 Fannin Street
   Houston, TX 77054

   UGHS Autimis Billing, Inc.                      15-31088

   UGHS Autimis Coding, Inc.                       15-31091

   UGHS ER Services, Inc.                          15-31092

   UGHS Hospitals, Inc.                            15-31093

   UGHS Management Services, Inc.                  15-31094

   UGHS Support Services, Inc.                     15-31095

   University General Hospital, LP                 15-31097

   University Hospital Systems LLP                 15-31098

Type of Business: Health Care

Chapter 11 Petition Date: February 27, 2015

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

Judge: Hon. Letitia Z. Paul

Debtors' Counsel: John F Higgins, IV, Esq.
                  PORTER HEDGES LLP
                  1000 Main St, Ste 3600
                  Houston, TX 77002-6336
                  Tel: 713-226-6648
                  Fax: 713-226-6248
                  Email: jhiggins@porterhedges.com

                    - and -

                  Aaron James Power, Esq.
                  PORTER HEDGES LLP
                  1000 Main 36th Flr
                  Houston, TX 77002
                  Tel: 713-226-6631
                  Fax: 713-226-6231
                  Email: apower@porterhedges.com

                     - and -

                  Joshua W. Wolfshohl, Esq.
                  PORTER HEDGES LLP
                  1000 Main, 36th Floor
                  Houston, TX 77002
                  Tel: 713-226-6000
                  Fax: 713-228-1331
                  Email: jwolfshohl@porterhedges.com

Debtors'          UPSHOT SERVICES, LLC
Claims and
Noticing
Agent:

Total Assets: $8.62 million

Total Debts: $10.2 million

The petition was signed by Edward T. Laborde, Jr., director,
general counsel, and secretary.

List of Debtor's 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Siemens Medical Solutions USA        Litigation       $5,031,607
Inc.                                  Judgment
Attn: Legal Dept.
51 Valley Stream Pkwy.
Malvern, PA 19355
Tel: 800-466-7873
Fax: 610-448-2554

Northwest Anesthesia & Pain             Trade         $3,750,000
Attn: Legal Dept.
17207 Kuykendahl Rd., Suite 200
Spring, TX 77379-8423
Tel: 281-880-9180

Vital Neweigh Control, Inc.             Trade         $3,455,000
Attn: Legal Dept.
4009 Richmond Ave.
Houston, TX 77027
Tel: 713-795-0200
Fax: 713-795-0300

Dr. Felix Spiegel                       Loan          $2,249,929
5217 Pines St.
Bellaire, TX 77401

Accord Healthcare                    Litigation       $2,222,941
Attn: Legal Dept.                     Judgment
1009 Slater Rd. Suite 210-B
Durham, NC 27703
Tel: 919-941-7879
Fax: 919-941-7881

AFCO Premium Credit LLC               Insurance        $1,565,278

Attn: Legal Dept.                      Premium
12160 Abrams Rd., Suite 301-          Financing
L.B. 51
Dallas, TX 75243
Tel: 972-669-8870

Emergency Medical Group LLC           Litigation       $1,552,680
d/b/a Elitecare Emergency Center
c/o Johnson Trent West & Taylor,
LLP
Attn: Lori Hood/Tamara Madden
919 Milam St. Suite 1700
Houston, TX 77054
Tel: 713-222-2323
Fax: 713-222-2226
Lhood@Johnsontrent.com
Tmadden@Johnsontrent.com

HMS Direct                               Trade         $1,123,044
Attn: Legal Dept.
6550 Carothers Parkway, Suite 100
Franklin, TN 37067

Humana Health Plan of                    Health          $931,195
Texas                                  Insurance
P.O. Box 560
Carol Stream, IL 60123
Fax: 713-783-9320

Houston Medical                          Loan            $770,378
Diagnostics, Ltd.
2607 Fairway Dr.
Sugarland, TX 77478

Cambridge Properties                     Rent            $768,627
Attn: Trey Miller
7505 Fannin St. Suite 304
Houston, TX 77054
Tel: 713-790-1155
Fax: 713-790-0618
Tmiller@camproperties.net

Advanced Functional                      Loan            $633,645  

Assessments, Inc.                 
Attn: Legal Dept.                
5150 Crenshaw Rd.
Building D100
Pasadena, TX 77505
Tel: 713-943-1100

Redi-Staff LLC                         Compromise        $621,902
5858 Sestheimer, Suite 400            & Settlement
Houston, TX 77057                       Agreement
Fax: 713-334-2528

St. Jude Medical S.C. Inc.                Trade          $513,666
22400 Network Place
Chicago, IL 60673-1224

Dr. Kenneth Reed                        Settlement       $500,000
Reed Migraine Centers                    Agreement
of Texas, PLLC
11970 N. Central
Expressway, Suite 510
Dallas, TX 75243

Reilly Medical Systems LLC                Trade          $446,850
2305 Lakeway DR.
Friendswood, TX 77546

Baylor Pathology                          Trade          $459,223
Consultants
1 Baylor Plaza, Suite 286A
Houston, TX 77030

Rusty Hardin &                            Trade          $428,179
Associates, LLP
1401 McKinney Street
Houston, TX 77010

Admiral Linen &                           Trade          $412,485
Uniform Service
2030 Kipling
Houston, TX 77098

W.L. Gore & Associates                    Trade          $395,152
555 Paper Mill Road
Newark, DE 19711

C. Foster & Associates                  Management       $358,419
5150 Crenshaw Rd. Suite D100               Fees
Pasadena, TX 77505

Omni Surgical Spine                        Trade         $346,312
5000 Plaza on the Lake
Suite 500
Austin, TX 78746

Nec Kingwood                              Payables       $346,255
Emergency Center, LP
c/o Gibson Gruenert, PLLC
11200 Broadway St.
Office West - Suite 2344
Pearland, TX 77584

Cousins Greenway Nine, LLC                 Lease         $333,566
P.O. Box 204516
Dallas, TX 75230-4516

Liskow & Leis, APLC                        Trade         $322,950
701 Poydras St. Suite 5000
New Orleans, LA 70139

Firstcity Servicing                        Loan          $299,291
Corporation
PO Box 8216
WACO, TX 76714-8216

Winstead PC                                Trade         $282,733
500 Winstead Bldg.
2728 N. Harwood St.
Dallas, TX 75201

Reliant Energy                             Trade         $257,597
1201 Fannin St.
Houston, TX 77002

Philips Healthcare                         Trade         $231,960
P.O. Box 100355
Atlanta, GA 30384

Joyce, McFarland +                         Trade         $230,272
McFarland
712 Main St. Suite 1500
Houston, TX 77002


UNIVERSITY GENERAL: Files Chapter 11 to Reduce Debt
---------------------------------------------------
University General Health System, Inc. and certain of its
subsidiaries filed voluntary petitions (Bank. S.D. Tex. Lead Case
No. 15-31086) on Feb. 27, 2015, to facilitate an operational and
financial restructuring of the Company.  MidCap Financial Trust
will provide debtor-in-possession financing to fund ongoing
operations.  UGHS expects to utilize the Chapter 11 process to
reduce its debt and strengthen its balance sheet.  The
restructuring process will not impact the Company's ability to
fulfill its obligations to its physicians, employees or patients.

"The filing was a difficult decision, but one that the Board
believes will allow the Company to focus on improving operations at
its flagship Houston hospital and creating a stronger financial
foundation upon which to build its comprehensive strategic plan,"
explained Hassan Chahadeh, M.D., Chairman and CEO of University
General Health Systems.  "This restructuring, once fully
implemented, should provide UGHS with a much improved balance sheet
and a capital structure that is more appropriate for its current
business model," Chahadeh continued.

Over the past few years the Company made several acquisitions,
including the Dallas hospital, which never achieved profitability.
The Company also entered into a series of unfavorable managed care
agreements that resulted in a loss of revenue and mismanaged claim
collections.  These events led to liquidity issues at UGHS.  The
Company has eliminated many of its underperforming hospital
outpatient departments, engaged in a sale process for the senior
living segment, and has closed the Dallas hospital.  Although the
Company took the necessary steps to remedy its liquidity issues by
selling non-core assets, streamlining operations and reducing
expenses, UGHS could not withstand its costs structure.

"We have improved our revenue cycle management through a
partnership with a nationally recognized leader in the industry.
These operational changes have already reduced our costs by $13
million per year with additional savings of approximately $1
million per month as a result of the Dallas hospital closure.  We
believe that the restructuring will allow us to emerge from Chapter
11 with a much-improved balance sheet and a healthy business that
is positioned to achieve long-term success," Chahadeh said.

"We believe that, under the circumstances, filing for Chapter 11
was the best course of action for UGHS.  This action enables us to
continue operating our business without interruption while
implementing a financial and operational restructuring in a
Court-supervised and controlled environment," Chahadeh continued.

Physicians and patients will see no change in the way the Company
operates.  Patients will receive the same innovative health
solutions in a concierge minded, physician-centric facility to
which they have become accustomed.

Ongoing employee compensation and benefit programs are being
presented to the Court for approval as part of the Company's First
Day Motions.  The Company believes that the Court will approve
these requests, thereby ensuring that employees will be paid and
that certain employee benefits programs will remain intact.

The Company announced that with the imminent closing of the sale of
the Senior Living Segment, Mr. Sapaugh has resigned as President,
but will remain on the board as an independent board member and a
vital part of the restructuring process.  Dr. Chahadeh will assume
the role of President as well as Chief Executive Officer.

The Company's entities included in the filing are: University
General Health System, Inc., UGHS Autimis Billing, Inc., UGHS
Autimis Coding, Inc., UGHS ER Services, Inc., UGHS Hospitals, Inc.,
UGHS Management Services, Inc., UGHS Support Services, Inc.,
University General Hospital, LP, and University Hospital Systems,
LLP.  The Company's operations not included in the filing and
therefore not impacted by the filing include: UGHS Senior Living,
Inc., Woodlands and Dickinson surgical centers.  Chapter 11 case
information can be found at www.upshotservices.com/UGHS.

John F Higgins, IV, Esq., Aaron James Power, Esq., and Joshua W.
Wolfshohl, Esq. at Porter Hedges LLP serve as the Debtors' counsel.
Judge Letitia Z. Paul is assigned to the case.


VANTAGE DRILLING: Bank Debt Trades at 29% Off
---------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 71.38
cents-on-the-dollar during the week ended Friday, Feb. 27, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
1.78 percentage points from the previous week, The Journal relates.
The Company pays 400 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 25, 2017, and carries
Moody's B3 rating and Standard & Poor's B- rating.  The loan is one
of the biggest gainers and losers among widely-quoted syndicated
loans in secondary trading in the week ended Friday among the 216
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.



VERITEQ CORP: PositiveID Reports 7.7% Stake as of Feb. 26
---------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, PositiveID Corporation reported that as of Feb. 26,
2015, it beneficially owned 140,000 shares of common stock of
VeriTeQ Corporation, which represents 7.7 percent (based on
1,811,800 shares of common stock outstanding as of Feb. 25, 2015).
A copy of the regulatory filing is available at:

                         http://is.gd/ebg0kU

                            About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ --
http://www.veriteqcorp.com/-- offers the world's first FDA
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.

Veriteq Corporation reported a net loss of $15.07 million on
$18,000 of sales for the year ended Dec. 31, 2013, as compared
with a net loss of $1.60 million on $0 of sales for the year ended
Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $6.77 million in total
assets, $14 million in total liabilities, and a $7.18 million
stockholders' deficit.

EisnerAmper LLP, in New York, New York, 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 recurring net losses, and at Dec. 31,
2013, had negative working capital and a stockholders' deficit.
These events and conditions raise substantial doubt about the
Company's ability to continue as a going concern.


VERTICAL COMPUTER: Stockholders Elect Two Directors to Board
------------------------------------------------------------
The 2015 annual meeting of the stockholders of Vertical Computer
Systems, Inc., was held on Feb. 25, 2015, at which the
stockholders:

   (1) elected Richard S. Wade and William K. Mills as directors
       to serve until the next Annual Meeting of Shareholders and
       until their successors are dully elected;

   (2) approved an amendment to the Certificate of Incorporation
       to increase the authorized shares of Common Stock from
       1,000,000,000 to 2,000,000,000;

   (3) approved on an advisory basis the compensation of the
       Company's Named Executive Officers;

   (4) selected "every three years" as the frequency of future
       advisory votes on executive compensation; and

   (5) ratified the selection of Malone & Bailey, LLP as the
       independent registered public accountant for the year ended

       Dec. 31, 2014.
          
On Feb. 27, 2015, Vertical Computer filed a Certificate of
Amendment of Certificate of Incorporation with the Secretary of
State of the State of Delaware to increase the number of authorized
shares of Common Stock to 2,000,000,000.

                      About Vertical Computer

Richardson, Tex.-based Vertical Computer Systems, Inc., is a
multinational provider of Internet core technologies, application
software, and software services through its distribution network
with operations or sales in the United States, Canada and Brazil.

Vertical Computer reported a net loss applicable to common
stockholders of $3.08 million in 2013 following a net loss
applicable to common stockholders of $2.07 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $1.01
million in total assets, $17.5 million in total liabilities,
$9.90 million in convertible cumulative preferred stock, and a
$26.4 million total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that the
Company suffered net losses and has a working capital deficiency,
which raises substantial doubt about its ability to continue as a
going concern.


VIGGLE INC: PAR Investment Reports 4.7% Stake as of Feb. 17
-----------------------------------------------------------
PAR Investment Partners, L.P., PAR Group, L.P. and PAR Capital
Management, Inc. disclosed in an amended Schedule 13G filed with
the Securities and Exchange Commission that as of Feb. 17, 2015,
they beneficially owned 778,859 shares of common stock of Viggle
Inc. which represents 4.7 percent of the shares outstanding.  A
copy of the regulatory filing is available for free at:

                         http://is.gd/anJQVM

                             About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

As of Dec. 31, 2014, the Company had $72.1 million in total assets,
$51.02 million in total liabilities, $3.75 million in series C
convertible redeemable preferred stock, and $17.4 million in total
stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VIRTUAL PIGGY: Extends Terms of Outstanding Warrants
----------------------------------------------------
According to a document filed with the Securities and Exchange
Commission, the Board of Directors of Virtual Piggy, Inc. approved
amendments extending the term of outstanding warrants to purchase
in the aggregate 3,877,970 shares of common stock of the Company at
exercise prices ranging from $0.01 per share to $1.00 per share.
These Warrants were scheduled to expire at various dates during
2015 and were each extended for an additional one year period from
the applicable current expiration date, with the new expiration
dates ranging from Feb. 23, 2016, to Dec. 28, 2016.

One of the Company's directors, George O. McDaniel III, currently
holds Warrants to purchase 250,000 shares at an exercise price of
$0.50 per share, which previously were to expire on May 12, 2015,
and will now expire on May 12, 2016.  In addition, Kathleen Tobia,
the spouse of William Tobia, one the Company's directors, holds
Warrants to purchase 40,000 shares at an exercise price of $0.50
per share, which previously were to expire on May 21, 2015, and
will now expire on May 21, 2016.

On Feb. 23, 2015, the Board of Directors of the Company also
approved amendments extending the term of certain outstanding stock
options held by two senior executives of the Company.
Specifically, the Board authorized the extension by two years of
the expiration date of options to purchase: (i) 3,000,000 shares at
$0.04 per share held by Jo Webber, the Company's Chairperson of the
Board and chief executive officer from March 2, 2015, to
March 2, 2017, and (ii) 500,000 shares at $0.04 per share held by
Pradeep Ittycheria, the Company's chief technology officer from
March 2, 2015, to March 2, 2017.

                 About Oink (Virtual Piggy, Inc.)

Virtual Piggy is the provider of Oink, a secure online and in-store
teen wallet.  Oink enables teens to manage and spend money within
parental controls, while gaining valuable financial management
skills.  The technology company also delivers payment platforms
designed for the Under 21 age group in the global market, and
enables online businesses the ability to function in a manner
consistent with the Children's Online Privacy Protection Act and
similar international children's privacy laws.  The company, based
in Hermosa Beach, CA, is on the Web at: www.oink.com and holds
three technology patents, US Patent No. 8,762,230, 8,650,621 and
8,812,395.

The Company's balance sheet at Sept. 30, 2014, showed
$4.11 million in total assets, $5.59 million in total liabilities
and a stockholders' deficit of $1.49 million.

"The Company has incurred significant losses and experienced
negative cash flow from operations during the development stage.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern," according to the
Company's quarterly report for the period ended Sept. 30, 2014.


VISUALANT INC: Gets OK for Series A Certificate of Designation
--------------------------------------------------------------
Visualant, Inc., disclosed in a document filed with the Securities
and Exchange Commission it filed and received approval from the
State of Nevada for the Company's Certificate of Designation,
Preferences and Rights for its Series A Convertible Preferred
Stock.  The Certificate of Designation reads as follows:

  "By resolution of the board of directors pursuant to a provision
   
   in the articles of incorporation this certificate establishes
   the following regarding the voting powers, designations,
   preferences, limitations, restrictions, and relative rights of
   the following class or series of stock.

   50 million shares which shall be issued in and constitute a   
   single series to be known as "Series A Convertible Preferred
   Stock." Conversion Price means $0.10.  Conversion Shares means
   the shares of Common Stock into which the Series A Preferred
   Stock is convertible.  Series A Stated Value is $0.10.

   Upon any liquidation, dissolution or winding-up of the
   Corporation, whether voluntary or involuntary, after the
   satisfaction in full of the debts of the Corporation and the   
   payment of any liquidation preference owed to the holders of
   shares of capital stock of the Corporation ranking prior to the

   Series A Preferred Stock upon liquidation, the Holders of the
   Series A Preferred Stock shall participate pari passu with the
   holders of the Common Stock (on an as-converted basis) in the  

   net assets of the Corporation.

   In addition to any class voting rights provided by law and this

   Certificate of Designation, the Holders of Series A Preferred
   Stock shall have the right to vote together with the holders of

   Common Stock as a single class on any matter on which the
   holders of Common Stock are entitled to vote (including the  
   election of directors)."

                       About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $1 million on $7.98 million of
revenue for the year ended Sept. 30, 2014, compared to a net loss
of $6.60 million on $8.57 million of revenue for the year ended
Sept. 30, 2013.  

The Company's balance sheet at Dec. 31, 2014, showed $3.22 million
in total assets, $9.47 million in total liabilities, and a
stockholders' deficit of $6.24 million.

PMB Helin Donovan, LLP, in Seattle, Washington, 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 sustained a net loss from operations and has an
accumulated deficit since inception.  These factors, according to
the auditors, raise substantial doubt about the Company's ability
to continue as a going concern.


VSA ENTERPRISES: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: VSA Enterprises, LLC
        c/o David J. Otto, Attorney
        1433 North Jones, Las Vegas
        Las Vegas, NV 89108

Case No.: 15-10968

Chapter 11 Petition Date: February 26, 2015

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

Judge: Hon. August B. Landis

Debtor's Counsel: David J. Otto, Esq.
                  DAVID OTTO & AFFILIATES, PC
                  2300 W. Sahara Ave., Ste 800
                  Las Vegas, NV 89102
                  Tel: 702-379-6540
                  Fax: 702-629-7929
                  Email: davidottolaw@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alexei Chiminkin, managing member.

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


VYSHNAVI INFOTECH: Files for Chapter 11 Bankruptcy Protection
-------------------------------------------------------------
Vyshnavi Infotech Inc. filed for Chapter 11 bankruptcy protection
(Bankr. E.D. Va. Case No. 15-10475) on Feb. 10, 2015, disclosing
$185,000 in total assets and $1.02 million in total liabilities.
The petition was signed by Janardhana R. Ravipati, president/
director.  Judge Robert G. Mayer presides over the case.

Juan Ever Milanes, Esq., at the Law Offices of Juan E. Milanes,
PLLC, serves as the Company's bankruptcy counsel.

A Sec. 341(a) meeting will be held on March 19, 2015, at 10:00 a.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 17, 2015.  Complaints for
determination of dischargeability of debt are due by May 18, 2015.
(Williams, Denise)

Vyshnavi Infotech Inc. is headquartered in Herndon, Virginia.



WALTER ENERGY: Reports $470.5 Million Net Loss for 2014
-------------------------------------------------------
Walter Energy, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$471 million on $1.40 billion of revenues for the year ended Dec.
31, 2014, compared to a net loss of $359 million on $1.86 billion
of revenues last year.

As of Dec. 31, 2014, the Company had $5.38 billion in total assets,
$5.10 billion in total liabilities and $282 million in total
stockholders' equity.

The Company disclosed it may not be able to refinance any of its
indebtedness on commercially reasonable terms or at all.  If its
operations do not generate sufficient cash flows, and additional
borrowings or refinancing are not available to it, the Company may
not have sufficient cash to enable it to meet all of its
obligations.

"If we cannot make scheduled payments on our debt or are not in
compliance with our covenants and are not able to amend those
covenants, we will be in default and holders of the Notes could
declare all outstanding principal and interest to be due and
payable, the lenders under the Credit Agreement could terminate
their commitments to loan money, the lenders could foreclose
against the assets securing their borrowings and we could be forced
into bankruptcy or liquidation.  If we are not able to generate
sufficient cash flow from operations, we may need to seek an
amendment to our Credit Agreement and the indentures governing our
Notes to prevent us from potentially being in breach of our
covenants," the Company stated.

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

                         http://is.gd/fb1oyu

                        About Walter Energy

Walter Energy is a leading, publicly traded "pure-play"
metallurgical coal producer for the global steel industry with
strategic access to high-growth steel markets in Asia, South
America and Europe.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,900 employees with operations in
the United States, Canada and United Kingdom.

                            *    *    *

As reported by the TCR on Aug. 19, 2014, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Birmingham,
Ala.-based Walter Energy to 'CCC+' from 'SD'.  S&P believes the
company's capital structure is likely unsustainable in the
long-term absent an improvement in met coal prices.

The TCR reported on July 10, 2014, that Moody's downgraded the
Corporate Family Rating of Walter Energy to 'Caa2' from 'Caa1'.
"The downgrade in the corporate family rating reflects the
anticipated deterioration in performance, increased cash burn and
increase in leverage, given the recent met coal benchmark
settlement of $120 per tonne for high quality coking coal and our
expectation that meaningful recovery in metallurgical coal markets
is twelve to eighteen months away."


WAVE SYSTEMS: Gets $2.3-Mil. Order for 250,000 Product Licenses
---------------------------------------------------------------
Wave Systems Corp. received on Feb. 25, 2015, a $2.3 million,
multi-year order from a major, US-headquartered insurance company
for over 250,000 licenses of both Wave Protector and Wave Reporter,
according to a Form 8-K filed with the Securities and Exchange
Commission.

                        About Wave Systems

Lee, Massachusetts-based Wave Systems Corp. (NASDAQ: WAVX) --
http://www.wave.com/-- develops, produces and markets products
for hardware-based digital security, including security
applications and services that are complementary to and work with
the specifications of the Trusted Computing Group, an industry
standards organization comprised of computer and device
manufacturers, software vendors and other computing products
manufacturers.

Wave Systems reported a net loss of $20.3 million in 2013, a net
loss of $34 million in 2012 and a net loss of $10.8 million in
2011.

KPMG LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
Wave Systems Corp. has suffered recurring losses from operations
and has an accumulated deficit that raise substantial doubt about
its ability to continue as a going concern.


WEST TEXAS GUAR: Scopia Fails to Move Plant Ch. 11 Coverage Row
---------------------------------------------------------------
Law360 reported that a federal judge reaffirmed New York as the
proper venue for Scopia Capital Management LLC's quest to collect
insurance coverage of a $23 million dispute with guar bean farmers
in Oklahoma and Texas who forced West Texas Guar, a Scopia-owned
processing plant into bankruptcy.

According to the report, U.S. District Judge Jed S. Rakoff issued
an opinion rejecting Scopia's challenge to a lawsuit brought by St.
Paul Fire and Marine Insurance Co., which the hedge fund wanted
tossed out so it could press for payment on a $10 million policy in
its preferred venue of Texas.  Ruling for Scopia, a New York fund
with $5 billion in assets under management, "would simply switch
out one forum shopper for another," Judge Rakoff said, the report
related.  "The court declines Scopia's invitation to play this
role."

The case is St. Paul Fire and Marine Insurance Co. v. Scopia
Windmill Fund LP et al., case number 1:14-cv-08002, in the U.S.
District Court for the Southern District of New York.

                    About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on
March 14, 2014, against West Texas Guar Inc.  The farmers claim
they are owed nearly $4 million for seed they've delivered on the
2013 harvest but haven't been paid for.  Guar is a seed crop that
has a variety of uses in human and animal food production, textiles
and fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,
Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in
Dallas, Texas.  The Debtor disclosed in amended schedules
$19.2 million in assets and $29.3 million in liabilities as of the
Chapter 11 filing.

West Texas Guar's Third Amended Chapter 11 Plan of Reorganization
became effective on Dec. 12, 2014, and substantial consummation of
that plan occurred.



WESTMORELAND COAL: Gives $2.5 Million Incentive to CEO
------------------------------------------------------
The Compensation and Benefits Committee of the board of directors
of Westmoreland Coal Company recommended, and the Board approved,
an award of $2.5 million to Chief Executive Officer Keith Alessi
under the Company's annual incentive plan.

According to a Form 8-K filed with the Securities and Exchange
Commission, the award was made above target levels under the annual
incentive plan, which reflected the exemplary performance of Mr.
Alessi over the past year leading the Company through several
transformational transactions, among other accomplishments.  The
award, which is normally paid out in cash only, will be paid out $1
million in cash and $1.5 million in Company common stock, subject
to the Company's Amended and Restated 2007 Equity Incentive Plan
for Employees and Non-Employee Directors.  

The Board also approved Mr. Alessi's compensation package for 2015
including base salary of $800,000, 100% of base salary for his
annual incentive plan target and 300% of base salary for his
long-term incentive plan target.

              Modification of Future Compensatory Plan

Additionally, upon the recommendation of the Committee, the Board
modified the performance metric targeted under the Company's
long-term incentive plan, starting with the 2015 performance-based
targets.  Most recently under the long-term incentive plan,
participants' incentive targets were based on achieving Company
free cash flow goals at a threshold, target and maximum number. The
Board determined that, moving forward, this performance-based
metric will be based on the Company's total shareholder return,
similarly on a threshold, target and maximum number.  The total
shareholder return will be based 30% on a Coal ETF and 70% on the
Russell 3000.

              Control Agreements with Executive Officers

On Feb. 25, 2015, all of the Company's named executive officers
Keith Alessi, Kevin Paprzycki, Jennifer Grafton, Joseph Micheletti
and John Schadan, as well as certain other officers, entered into
change in control agreements with the Company.  The terms of the
Agreements are materially similar and include a double trigger
change in control mechanism.  Upon termination after a change in
control, as defined under the Agreements, named executive officers
are entitled to two times base pay and payment of their target
annual incentive plan payout, as well as an immediate vesting of
all equity not yet vested.  The Agreements have a two year term
that is automatically renewed for additional one year terms if not
terminated with nine months notice.  The Agreements also include
typical confidentiality and non-disparagement terms, as well as a
one year non-compete.

             Amendments Bylaws; Change in Fiscal Year

Additionally, on Feb. 20, 2015, the Board, upon recommendation by
the Nominating and Corporate Governance Committee, approved certain
amendments to the Company's Bylaws, to among other things:

   * expand the means by which notice of meetings may be given;

   * clarify that, in the event that no annual meeting was held in
     the prior year or the date of the annual meeting has been
     changed by more than 30 calendar days from the anniversary of
     the prior year's annual meeting (or an election is held at a
     special meeting of stockholders), a stockholder proposal and
     a nominee proposal must be delivered to the Secretary not
     earlier than the close of business on the 120th prior to the
     anniversary date of the prior year's annual meeting of
     stockholders and not later than the close of business on the
     later of the 90th prior to such annual meeting or the 10th
     day following the first public announcement of that annual   

     meeting;

   * remove references to "Preferred Stock Directors" and the
     voting rights of holders of the Company's Series A Preferred
     Stock, which has been redeemed;

   * allow for the Vice Chairman to act as chairman of meetings of
     stockholders;

   * elect to be governed by Section 141(c)(2) of the Delaware
     General Corporation Law which imposes fewer restrictions on
     the powers and authority that a board may delegate to a
     committee; and

   * make other minor changes to update, provide clarification and
     modernize the Company's Bylaws.

                       Investor Presentation

On Feb. 24, 2015, the Company made an investor presentation that
included the slides, a copy of which is available for free at:

                        http://is.gd/u1Xu1W

                  Formation of Health, Safety and
                 Environment Committee of the Board

On Feb. 20, 2015, the Board also unanimously approved the creation
of a Health, Safety and Environment Committee.  The Committee is
comprised of current independent directors Terry Bachynski, Jan
Packwood, Michael Hutchinson and Bob Scharp, with Mr. Bachynski
serving as chairman.  The Health, Safety and Environment Committee
is in the process of drafting and approving its charter, as well as
setting goals for the year.

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal incurred a net loss applicable to common
shareholders of $6.05 million in 2013, a net loss applicable to
common shareholders of $8.58 million in 2012 and a net loss
applicable to common shareholders of $34.5 million in 2011.

                           *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to 'B3' from 'Caa1', and assigned 'Caa1' rating to
the company's proposed new $300 million First Lien Term Loan, the
TCR reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/ EBITDA
will track at around 5x in 2015 and 2016 and that the
company will be break-even to modestly free cash flow positive
over the same time period.


WPCS INTERNATIONAL: Has Until May 31 to Regain Nasdaq Compliance
----------------------------------------------------------------
WPCS International Incorporated received an extension from the
Nasdaq Listings Qualification Department until May 31, 2015, to
regain compliance with Nasdaq Listing Rule 5550(b)(1), which
requires the Company to have minimum stockholders' equity of
$2,500,000.  The Company had previously announced the receipt of a
deficiency notice from Nasdaq, informing the Company that it was
not in compliance with the Stockholders' Equity Requirement.  The
Company submitted its plan to regain compliance to Nasdaq on
Feb. 12, 2015.

"The Company will provide additional information on this matter if
and when it becomes available.  There can be no assurance that the
Plan will be successful in maintaining the Company's listing on the
Nasdaq Capital Market for its common stock.  Any such failure may
impact the liquidity and market price of the Company's common stock
and the Company's access to the capital markets," according to a
document filed with the Securities and Exchange Commission.

              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.


XRPRO SCIENCES: Amends Bylaws to Add Forum Selection
----------------------------------------------------
The Board of Directors of XRpro Sciences, Inc. approved the
amendment and restatement of the Company's by-laws, effective as of
Feb. 20, 2015, to add a forum selection provision for the
adjudication of certain disputes.

This provision, set forth in Section 6.8 of the Amended and
Restated By-Laws, provides that unless the Company consents in
writing to the selection of an alternative forum, the Court of
Chancery of the State of Delaware (or, if the Court of Chancery of
the State of Delaware does not have jurisdiction, the federal
district court for the District of Delaware) will be the sole and
exclusive forum for:

    (1) any derivative action or proceeding brought on behalf of
        the Company;

    (2) any action asserting a claim of breach of a fiduciary duty
        owed by any director, officer or other employee of the
        Company to the Company or its stockholders;

    (3) any action asserting a claim arising pursuant to any
        provision of the General Corporation Law of the State of
        Delaware, the Company's certificate of incorporation, or
        the Amended and Restated By-Laws; and

    (4) any action asserting a claim governed by the internal
        affairs doctrine.

                    About XRpro Sciences, Inc.

XRpro Sciences, Inc., formerly known as, provides a unique platform
for drug discovery and development services featuring high
throughput screening of ion channel assays for the pharmaceutical
industry.  The Company's proprietary advances in X-ray fluorescence
provide measurements that would otherwise be difficult or
impossible applying other readily available technologies.  XRpro
technology directly measures the activity of a drug target, without
the need for costly and artifact-causing chemical dyes or
radiolabels.  For further information, please visit www.xrpro.com.

Caldera incurred a net loss applicable to common stock of
$5.88 million in 2013, a net loss of $952,000 in 2012, and a net
loss of $2.35 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $3.96 million
in total assets, $3.60 million in total liabilities, $133,000 in
convertible redeemable preferred stock, and $225,000 of
stockholders' equity.


[^] BOND PRICING: For the Week From February 23 to 27, 2015
-----------------------------------------------------------
  Company               Ticker  Coupon Bid Price  Maturity Date
  -------               ------  ------ ---------  -------------
Allen Systems
  Group Inc             ALLSYS  10.500    33.625     11/15/2016
Allen Systems
  Group Inc             ALLSYS  10.500    33.625     11/15/2016
Alpha Natural
  Resources Inc         ANR      6.000    29.660       6/1/2019
Alpha Natural
  Resources Inc         ANR      9.750    41.625      4/15/2018
Alpha Natural
  Resources Inc         ANR      3.750    39.341     12/15/2017
Altegrity Inc           USINV   14.000    38.000       7/1/2020
Altegrity Inc           USINV   13.000    37.625       7/1/2020
Altegrity Inc           USINV   14.000    37.625       7/1/2020
American Eagle
  Energy Corp           AMZG    11.000    42.000       9/1/2019
American Eagle
  Energy Corp           AMZG    11.000    39.000       9/1/2019
Arch Coal Inc           ACI      7.000    31.250      6/15/2019
Arch Coal Inc           ACI      9.875    37.971      6/15/2019
BPZ Resources Inc       BPZ      8.500    21.750      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.000    18.125     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     12.750    17.750      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      6.500    29.750       6/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.750    22.000       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    15.090     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      5.750    28.000      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR      5.750    25.750      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.750     8.750       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    18.125     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    22.375       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    18.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    18.125     12/15/2018
Cal Dive
  International Inc     CDVI     5.000    10.000      7/15/2017
Champion
  Enterprises Inc       CHB      2.750     0.250      11/1/2037
Chassix Holdings Inc    CHASSX  10.000    12.250     12/15/2018
Chassix Holdings Inc    CHASSX  10.000    12.250     12/15/2018
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    32.603     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    32.375     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    32.375     11/15/2017
Dendreon Corp           DNDN     2.875    74.750      1/15/2016
Endeavour
  International Corp    END     12.000    22.500       3/1/2018
Endeavour
  International Corp    END     12.000     5.000       6/1/2018
Endeavour
  International Corp    END      5.500     1.228      7/15/2016
Endeavour
  International Corp    END     12.000    22.250       3/1/2018
Endeavour
  International Corp    END     12.000    22.250       3/1/2018
Energy Conversion
  Devices Inc           ENER     3.000     7.875      6/15/2013
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc           TXU     10.000     9.750      12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc           TXU     10.000     9.750      12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc           TXU      6.875     4.269      8/15/2017
Exide Technologies      XIDE     8.625     3.250       2/1/2018
Exide Technologies      XIDE     8.625     3.631       2/1/2018
Exide Technologies      XIDE     8.625     3.631       2/1/2018
FBOP Corp               FBOPCP  10.000     1.843      1/15/2009
FairPoint
  Communications
  Inc/Old               FRP     13.125     1.879       4/2/2018
Fleetwood
  Enterprises Inc       FLTW    14.000     3.557     12/15/2011
GT Advanced
  Technologies Inc      GTAT     3.000    32.000      10/1/2017
Goodrich
  Petroleum Corp        GDP      5.000    51.000      10/1/2032
Hartford Life
  Insurance Co          HIG      4.700    89.500      6/15/2015
Hercules Offshore Inc   HERO    10.250    36.000       4/1/2019
Hercules Offshore Inc   HERO    10.250    36.625       4/1/2019
James River Coal Co     JRCC    10.000     0.437       6/1/2018
James River Coal Co     JRCC    10.000     0.437       6/1/2018
Las Vegas Monorail Co   LASVMC   5.500     3.227      7/15/2019
Lehman Brothers
  Holdings Inc          LEH      5.000    12.500       2/7/2009
Lehman Brothers Inc     LEH      7.500     9.125       8/1/2026
MF Global
  Holdings Ltd          MF       6.250    32.000       8/8/2016
MF Global
  Holdings Ltd          MF       3.375    32.000       8/1/2018
MF Global
  Holdings Ltd          MF       1.875    32.000       2/1/2016
MModal Inc              MODL    10.750    10.125      8/15/2020
Molycorp Inc            MCP      6.000    16.400       9/1/2017
Molycorp Inc            MCP      3.250    16.750      6/15/2016
Molycorp Inc            MCP      5.500    18.000       2/1/2018
NII Capital Corp        NIHD    10.000    56.000      8/15/2016
OMX Timber Finance
  Investments II LLC    OMX      5.540    25.125      1/29/2020
Powerwave
  Technologies Inc      PWAV     2.750     0.125      7/15/2041
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Quicksilver
  Resources Inc         KWKA     9.125     9.479      8/15/2019
Quicksilver
  Resources Inc         KWKA    11.000     9.750       7/1/2021
RAAM Global Energy Co   RAMGEN  12.500    44.100      10/1/2015
RadioShack Corp         RSH      6.750    11.875      5/15/2019
RadioShack Corp         RSH      6.750    12.250      5/15/2019
RadioShack Corp         RSH      6.750    94.125      5/15/2019
Resolute Energy Corp    REN      8.500    30.000       5/1/2020
Sabine Oil & Gas Corp   SOGC     7.250    34.175      6/15/2019
Sabine Oil & Gas Corp   SOGC     9.750    46.500      2/15/2017
Sabine Oil & Gas Corp   SOGC     7.500    34.000      9/15/2020
Samson Investment Co    SAIVST   9.750    34.000      2/15/2020
Saratoga
  Resources Inc         SARA    12.500    17.500       7/1/2016
Savient
  Pharmaceuticals Inc   SVNT     4.750     0.225       2/1/2018
TMST Inc                THMR     8.000    10.000      5/15/2013
Terrestar
  Networks Inc          TSTR     6.500    10.000      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    10.063      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    16.500       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     8.375      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    14.800       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     7.875      11/1/2016
Tunica-Biloxi
  Gaming Authority      PAGON    9.000    60.000     11/15/2015
Walter Energy Inc       WLT      9.875    14.250     12/15/2020
Walter Energy Inc       WLT      8.500    12.000      4/15/2021
Walter Energy Inc       WLT      9.875    13.625     12/15/2020
Walter Energy Inc       WLT      9.875    13.625     12/15/2020


                            *********

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

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

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

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

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

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

                            *********

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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***