TCR_Public/150316.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 16, 2015, Vol. 19, No. 75

                            Headlines

1058 SOUTHERN: Hires Rosen Law as Special Litigation Counsel
ADAMIS PHARMACEUTICALS: Adopts 2015 Bonus Plan
AEMETIS INC: Posts $7.13 Million Net Income for 2014
AEREO INC: Court Okays Sale of Certain Assets to TiVo
AEREO INC: Judge Approves Asset Sales to TiVo, RPX

AFFIRMATIVE INSURANCE: Unit Inks Commutation Pact with Reinsurer
AIR MEDICAL: Moody's Puts 'B3' CFR on Review for Downgrade
ALLIED NEVADA: Meeting to Form Creditors' Panel Set for March 19
ALLIED NEVADA: Receives NYSE Stock Delisting Notice
ALLY FINANCIAL: Receives Non-Objection to CCAR Capital Plan

AMERICAN APPAREL: Robert Mintz Quits as Director
AMPLIPHI BIOSCIENCES: Enters Into $13-Mil. Financing Agreements
ANACOR PHARMACEUTICALS: Reports $10 Million Net Loss for Q4
AP-LONG BEACH: Court Approves Hiring of Mount Nebo as Broker
ARCHDIOCESE OF ST. PAUL: Panel Hires Stinson Leonard as Counsel

ASPEN GROUP: Reports $1.24 Million Net Loss for Third Quarter
BETHANY COLLEGE: S&P Cuts Rating on 2011 A/B Revenue Bonds to BB+
BINDER & BINDER: U.S. Bank Opposes Claimants Representative
BIOLIFE SOLUTIONS: Reports $3.3 Million Net Loss for 2014
BLACKBOARD INC: Moody's Affirms 'B2' CFR & Keeps Negative Outlook

BON-TON STORES: Has 6.97M Loss in Fiscal Year Ended Feb. 1
BOOMERANG SYSTEMS: Files Copy of Investor Presentation with SEC
BRAND ENERGY: Bank Debt Trades at 2% Off
CACHE INC: Taps Consensus Advisory as Intellectual Property Broker
CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 6% Off

CAESARS ENTERTAINMENT: Gathering Facts on Lost Pension Payments
CANCER GENETICS: Incurs $16.6 Million Net Loss in 2014
CATASYS INC: Expands its OnTrak Program
CENTURYLINK INC: Fitch Rates Up to $500MM Sr. Unsec. Notes BB+
CENTURYLINK INC: Moody's Rates Proposed Series X Notes Ba2

CENTURYLINK INC: S&P Assigns 'BB' Rating on New Sr. Notes Due 2025
CEVA GROUP: 2021 Bank Debt Trades at 7% Off
CHASSIX HOLDINGS: Bankruptcy Court Approves First Day Motions
CHASSIX HOLDINGS: March 19 Meeting Set to Form Creditors' Panel
CHROMCRAFT REVINGTON: Arts And Crafts, Myron Offer to Buy Assets

CHROMCRAFT REVINGTON: March 20 Meeting Set to Form Creditors' Panel
CIVIC PARTNERS: 8th Cir. Dismisses Appeal on Ch 11 Plan Ruling
CLOUDEEVA INC: Richard Honig Approved as Successor Trustee
COLT DEFENSE: Hires Mackinac Partners as Restructuring Advisor
COUNTRY STONE: Hires Consultants to Wind Down Estates

COUTURE HOTEL: Hires Stumbo Hanson as Special Counsel
CTI BIOPHARMA: Incurs $96 Million Net Loss for 2014
DAUGHTERS OF CHARITY: Prime Healthcare Backs Out of Sale Deal
DEERFIELD RANCH: March 27 Hearing on Cash Use Deal
DETROIT, MI: Emerges From Bankruptcy But Economic Hurdles Persists

DORAL FINANCIAL: Meeting to Form Creditors' Panel Set for March 23
DPX HOLDINGS: Moody's Retains B3 CFR Over EUR150MM Term Loan Add-On
DUNE ENERGY: $10M Loan From Montreal Bank Has Interim Approval
DUTCH GOLD: Judge OKs Trustee's Report of No Distribution
EMERALD INVESTMENTS: Bid for Case Dismissal and Stay Relief Denied

EXIDE TECHNOLOGIES: To Close Vernon, California Facility
EXIDE TECHNOLOGIES: To Permanently Close Vernon Facility
FINJAN HOLDINGS: Incurs $10.5 Million Net Loss in 2014
FORTESCUE METALS: Bank Debt Trades at 8% Off
FR DIXIE ACQUISITION: S&P Lowers CCR to 'B' on Elevated Leverage

FRAC TECH: Bank Debt Trades at 20% Off
FULLBEAUTY BRANDS: Moody's Affirms B2 Corp. Family Rating
FULLBEAUTY BRANDS: S&P Affirms 'B' CCR; Outlook Stable
GELTECH SOLUTIONS: Seeks to Remove AMM's Form 3 Filing with SEC
GENERAL MOTORS: Settles Case That Triggered Ignition-Switch Recall

GETTY IMAGES: Bank Debt Trades at 17% Off
GILES-JORDAN: Hires LMI Group as Real Estate Broker
GOLD RIVER: Taps Levene Neale Bender as General Bankruptcy Counsel
GOODRICH PETROLEUM: Moody's Lowers Corporate Family Rating to Caa1
GWWS REAL ESTATE: Case Summary & 8 Largest Unsecured Creditors

GYMBOREE CORP: Bank Debt Trades at 28% Off
H S MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors
HC GROUP: S&P Assigns 'B' CCR & Rates 1st Lien Secured Debt 'B'
HD SUPPLY: Appoints Joseph DeAngelo as Board Chairman
HEALTHWAREHOUSE.COM: Melrose Extends Note Maturity to Sept. 1

HOVNANIAN ENTERPRISES: Reports $14.4 Million Net Loss for Q1
HOVNANIAN ENTERPRISES: Stockholders Elect 7 Directors
HYDROCARB ENERGY: Implements Strategic Financing
I.E.C. RENTALS: Case Summary & 10 Largest Unsecured Creditors
I.E.C. RENTALS: Files for Ch. 11 in Ft. Myers, Florida

IDERA PHARMACEUTICALS: Reports $39.2 Million Net Loss for 2014
IDERA PHARMACEUTICALS: To Issue 3.2MM Shares Under Option Plan
INN AT WOODBRIDGE: Appeals Relating to "Wolosoff" Guaranty Denied
INTERTAIN GROUP: Moody's Assigns 'B2' Corp. Family Rating
LAZARD GROUP: Moody's Gives Ba1 Unsec Rating to Debt Shelf Facility

LIFE PARTNERS: Receives Nasdaq Listing Non-Compliance Notice
LONGVIEW POWER: Plan Confirmation Hearing Begins Today
MALIBU ASSOCIATES: Defaulted on $47MM US Bank Loan, Closes Club
MEG ENERGY: Bank Debt Trades at 4% Off
METALICO INC: Resets Results Call; Continues Weighing Options

MILESTONE SCIENTIFIC: Robert Gintel Holds 5% Stake as of March 9
MMRGLOBAL INC: To Report Record 2014 Revenues
NATROL INC: Debtor Seeks April 23 Extension of Plan Filing Date
NEONODE INC: Reports $14.2 Million Net Loss for 2014
NEW LOUISIANA: Palm Terrace Debtors Hire SLIB as Broker

NGPL PIPECO: Bank Debt Trades at 4% Off
OHIO VALLEY: Moody's Affirms Ba3 Rating to Bonds; Outlook Stable
OKLAHOMA UNITED: PCO Hires Andrews Davis as Counsel
PACIFIC DRILLING: Bank Debt Trades at 17% Off
PEABODY ENERGY: Bank Debt Trades at 10% Off

PHOENIX PAYMENT: Authorized to Use Cash Collateral Until April 3
PHOENIX PAYMENT: Court Confirms Ch. 11 Reorganization Plan
PLATTSBURGH SUITES: Hires SaxBST LLP as Accountants
PLATTSBURGH SUITES: Taps E. Stewart as Litigation Counsel
PLY GEM HOLDINGS: Reports $12.5 Million Net Loss for 4th Quarter

QUANTUM FUEL: Incurs $4.3 Million Net Loss for Fourth Quarter
QUARTZ HILL: Jacqueline Calderin and ECC Withdraw as Counsel
RADIOSHACK CORP: Creditors' Panel Hires Cooley LLP as Co-Counsel
RADIOSHACK CORP: Hires DJM Realty as Real Estate Consultant
RADIOSHACK CORP: Says Equity Holders to Get Nothing

RADIOSHACK CORP: Says Stock Is Worthless
RADIOSHACK CORP: Taps KPMG LLP as Tax Advisor
RAPID AMERICAN: Hearing on Gilbert's Employment Set for March 17
REDPRAIRIE CORP: Bank Debt Trades at 2% Off
REED AND BARTON: Hires Keightley & Ashner as Special Counsel

RESEARCH NOW: Moody's Says 'B2' CFR Unaffected by Debt Upsize
RETROPHIN INC: Reports $110.9 Million Net Loss for 2014
REVEL AC: Judge Won't Approve $82-Mil. Sale to Glenn Straub's Firm
RSI ASSOCIATES: Ch 11 Case Dismissed; Owner Admits to Forgery
SAGITTARIUS RESTAURANTS: Moody's Raises CFR to B2; Outlook Stable

SAGITTARIUS RESTAURANTS: S&P Raises CCR to 'B+'; Outlook Stable
SCIENTIFIC GAMES: Elects William Thompson as Director
SCIENTIFIC GAMES: Reports $47.1 Million Net Loss for Fourth Quarter
SEADRILL LTD: Bank Debt Trades at 18% Off
SILVERADO STREET: Meeting of Creditors to Continue on April 14

SILVERADO STREET: US Trustee Unable to Form Creditors' Committee
SNEAKERS SPORTS: Restaurant to Be Sold in Foreclosure Auction
SPIRIT REALTY: S&P Raises CCR to 'BB'; Outlook Stable
STANDARD REGISTER: Case Summary & 50 Largest Unsecured Creditors
STANDARD REGISTER: Could Sell Business to Silver Point for $275MM

STOCKTON, CA: Plan Approval Opinion Amended for Reserve Fund
SUNSET METAL: Case Summary & 20 Largest Unsecured Creditors
TASC INC: Moody's Raises CFR to B2 Following Merger with Engility
TELEGRAPH TOWER: Case Summary & 22 Largest Unsecured Creditors
TENET HEALTHCARE: Names Tammy Romo to Board of Directors

TERVITA CORP: Bank Debt Trades at 7% Off
THERAPEUTICSMD INC: Incurs $54.2 Million Net Loss for 2014
TMT PROCUREMENT: Court Amends Order on Sale Proceeds Application
TMT PROCUREMENT: Parties Say Hsin and F3 Capital's Bid Malicious
TMT PROCUREMENT: Several Bankr. and District Court Orders Vacated

TRADELINK TRANSPORT: Case Summary & 20 Top Unsecured Creditors
TRUMP ENTERTAINMENT: Delaware Judge Confirms Chapter 11 Plan
TRUMP ENTERTAINMENT: Taps Levine Staller as Tax Appellate Counsel
TS EMPLOYMENT: Hires Tarter Krinsky as General Bankruptcy Counsel
ULTIMATE NUTRITION: Hires Epstein as Intellectual Property Counsel

ULTIMATE NUTRITION: Hires Halloran & Sage as Employment Counsel
UNITED AMERICAN: Delays Filing of Sept. 30 Quarterly Report
UNITED RENTALS: Moody's Rates New Sr. Secured Notes Ba1
UNITED RENTALS: S&P Rates Proposed $1BB Sr. Secured Notes 'BB+'
VANTAGE DRILLING: 2017 Bank Debt Trades at 28% Off

VANTAGE DRILLING: 2019 Bank Debt Trades at 40% Off
VARIANT HOLDING: Has Until Aug. 25 to File Reorganization Plan
VIAWEST INC: Moody's Assigns B2 Rating on New $375MM Term Loan B
VIAWEST INC: S&P Affirms 'B+' Corp. Credit Rating
VISION VENTURES: Files for Ch. 11 to Dodge Foreclosure Sale

WABASH NATIONAL: Moody's Raises CFR to Ba3; Outlook Remains Stable
WALTER ENERGY: Bank Debt Trades at 35% Off
WAYNE COUNTY, MI: Fitch Cuts Rating on $186.3MM LTGO Bonds to B
WINDSTREAM HOLDINGS: S&P Revises Outlook to Neg. & Affirms BB- CCR
WORD WORLD: NY Court Rules on Claims Trading Dispute

ZOGENIX INC: Auditor Issues Going Concern Qualification
ZOGENIX INC: Sabby Healthcare Reports 6.5% Stake as of March 11
[*] Jones Day to Open Permanent Detroit Office
[^] BOND PRICING: For The Week From March 2 to 6, 2015

                            *********

1058 SOUTHERN: Hires Rosen Law as Special Litigation Counsel
------------------------------------------------------------
1058 Southern Blvd. Realty Corp. asks for authorization from the
U.S. Bankruptcy Court for the Southern District of New York to
employ Rosen Law LLC as special litigation counsel to represent the
Debtor in all matters related to the proof of claim filed by Haim
Yuzary ("Yuzary Claim").

The services of Rosen Law include prosecuting an objection to the
proof of claim until the determination of the amount of the claim,
if any.

The Debtor selected Rosen Law LLC because it has represented the
Debtor, and continues to be the attorney for appealing the decision
of a Supreme Court action commenced by Haim Yuzary in 2009.

Rosen Law's normal billing rates for the legal services of the
nature to be rendered to the Debtor are as follows:

       Partners                  $450
       Counsel                   $350
       Associates                $350

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

Gary Rosen of Rosen Law assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

Rosen Law can be reached at:

       Gary Rosen, Esq.
       ROSEN LAW LLC
       26 Summit Grove Avenue, Ste. 217
       Bryn Mawr, PA 19010
       Tel: (484) 380-2513
       E-mail: grosen@logarpc.com

                About 1058 Southern Blvd. Realty Corp.

1058 Southern Blvd. Realty Corp., owner and operator of a mixed-use
multi-unit building known as and located at 1054-1058 Southern
Boulevard, 1042 Westchester Avenue, Bronx, New York, sought
bankruptcy protection (Bankr. S.D.N.Y. Case No. 14-12808) on Oct.
3, 2014.  Miriam Shasho signed the petition as president of the
Debtor.  The Debtor estimated assets of $10 million to $50 million
and liabilities of $1 million to $10 million.  The case is assigned
to Judge Robert E. Gerber.  The Debtor has tapped Gerard R.
Luckman, Esq., at SilvermanAcampora, LLP, in Jericho, New York, as
counsel.


ADAMIS PHARMACEUTICALS: Adopts 2015 Bonus Plan
----------------------------------------------
At a meeting held on March 5, 2015, the independent members of the
Board of Directors of Adamis Pharmaceuticals Corporation, based on
a recommendation by the Compensation Committee, approved the Adamis
Pharmaceuticals Corporation 2015 Bonus Plan.  

According to a document filed with the Securities and Exchange
Commission, the terms of the 2015 Bonus Plan establish for each
level of Company employee, including the Company's executive
officers but excluding field sales employees of the Company, a
target cash bonus amount, expressed as a percentage of base salary.


Under the terms of the 2015 Bonus Plan, bonus payments will be
based on an evaluation by the Compensation Committee, as well as
the independent members of the Board of Directors, of the Company's
achievement of corporate performance goals for 2015.  The corporate
performance goals for 2015 were also approved by the Board based on
a recommendation of the Compensation Committee and include the
achievement of performance targets and business goals with respect
to the Company's financial results, capital raising activities,
pre-clinical and clinical trial activities, regulatory activities
and approvals, product development and product commercialization
activities.

The Plan is designed to:

  * Provide a bonus program that helps achieve overall corporate
    goals and enhances shareholder value

  * Reward individuals for achievement of corporate and individual

    goals

  * Encourage teamwork among all disciplines within the Company

  * Offer an attractive bonus program to help attract and retain   

    key employees

A full-text copy of the Adamis Pharmaceuticals Corporation 2015
Bonus Plan is available at http://is.gd/0DNcUh

                            About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC
QB: ADMP) is a biopharmaceutical company engaged in the
development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory
disease, allergy, oncology and immunology.

Adamis reported a net loss of $8.15 million for the year ended
March 31, 2014, as compared with a net loss of $7.19 million for
the year ended March 31, 2013.

Mayer Hoffman McCann P.C., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended March 31, 2014.  The independent auditors noted
that the Company has incurred recurring losses from operations and
has limited working capital to pursue its business alternatives.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.

As of June 30, 2014, the Company had $11.6 million in total
assets, $1.90 million in total liabilities and $9.65 million in
total stockholders' equity.

                         Bankruptcy Warning

"Our management intends to attempt to secure additional required
funding through equity or debt financings, sales or out-licensing
of intellectual property assets, seeking partnerships with other
pharmaceutical companies or third parties to co-develop and fund
research and development efforts, or similar transactions.
However, there can be no assurance that we will be able to obtain
any required additional funding.  If we are unsuccessful in
securing funding from any of these sources, we will defer, reduce
or eliminate certain planned expenditures and delay development or
commercialization of some or all of our products.  If we do not
have sufficient funds to continue operations, we could be required
to seek bankruptcy protection or other alternatives that could
result in our stockholders losing some or all of their investment
in us," the Company said in its quarterly report for the period
ended June 30, 2014.


AEMETIS INC: Posts $7.13 Million Net Income for 2014
----------------------------------------------------
Aemetis, Inc. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$7.13 million on $207.7 million of revenues for the year ended Dec.
31, 2014, compared with a net loss of $24.4 million on $178 million
of revenues during the prior year.

As of Dec. 31, 2014, Aemetis had $89.2 million in total assets,
$92.1 million in total liabilities, and a $2.97 million
stockholders' deficit.

The Company said its business is dependent on external financing
and cash from operations to service debt and provide future
growth.

"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 unfavorable
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.  Debt levels or debt service requirements may limit our
ability to borrow additional capital, make us vulnerable to
increases in prevailing interest rates, subject our assets to
liens, limit our ability to adjust to changing market conditions,
or place us at a competitive disadvantage to our competitors.
Should we be unable to generate enough cash from our operations or
secure additional financing to fund our operations and debt service
requirements, we may be required to postpone or cancel growth
projects, reduce our operations, or may be unable to meet our debt
repayment schedules.  Any one of these events would likely have a
material adverse effect on our operations and financial position,"
the Company states in the Report.

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

                        http://is.gd/r6kYjV

                           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.


AEREO INC: Court Okays Sale of Certain Assets to TiVo
-----------------------------------------------------
Angela Moscaritolo at Pcmag.com reports that Aereo Inc. has
obtained bankruptcy court approval to sell its patents, hardware,
and other assets to TiVo.

TiVo President and CEO Tom Rogers said in a statement, "TiVo has
always innovated to meet the constantly changing ways TV audiences
choose to access content.  TiVo has found success in providing a
more comprehensive offering and sophisticated user experience than
any other player in the marketplace and we look forward to
expanding on that success."

The Associated Press relates that financial terms of the sale were
not disclosed.

                        About Aereo, Inc.

With headquarters in Boston, Massachusetts, Aereo, Inc., is a
technology company that provided subscribers with the ability to
watch live or "time-shifted" local over-the-air broadcast
television on Internet-connected devices, such as personal
computers, tablet devices, and "smartphones."   Aero provided to
each subscriber access, via the Internet, to individual remote or
micro-antennas and a cloud-based DVR, which were maintained by the
Debtor in facilities within the local market.

Aereo, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 14-13200) in Manhattan, New York, on Nov. 20, 2014.  The
Chapter 11 filing came five months after the U.S. Supreme Court
ruled the Debtor, with respect to live or contemporaneous
transmissions, was essentially performing as a traditional cable
system under the Copyright Act, and thus was violating
broadcasters' copyrights because it wasn't paying broadcasters any
fees.

The Debtor has tapped William R. Baldiga, Esq., at Brown Rudnick
LLP, in New York, as counsel.  The Debtors has also engaged Argus
Management Corp. to provide the services of Lawton W. Bloom as CRO
and Peter Sullivan and Scott Dicus as assistant restructuring
officers.  Prime Clerk LLC is the claims and notice agent.

The Debtor disclosed $22.2 million in assets and $2.78 million in
liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed three creditors to serve
on the official committee of unsecured creditors.  Stinson Leonard
Street LLP serves as the Committee's counsel.


AEREO INC: Judge Approves Asset Sales to TiVo, RPX
--------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
U.S. Bankruptcy Judge Sean Lane in New York approved the sale of
Aereo Inc.'s assets to TiVo Inc. and other buyers, despite the
company's disappointment over the outcome of the sale.

According to the report, the sale brought in less than $2 million
to help pay back creditors of the defunct TV-streaming service.
William Baldiga, an attorney for Aereo, told U.S. Bankruptcy Court
Judge Sean Lane during a March 11 hearing that the company did
everything it could to garner a higher price for the assets,
including considering running an entirely new auction, the Journal
related.

Law360 reported that Judge Lane blessed Aereo's three proposed
asset sales after inserting language designed to protect the legal
rights of the broadcast networks that shut down its disruptive
business model.  The networks -- a who's who of the nation's
broadcast programming providers -- have figured heavily in the sale
and auction process, concerned about the potential for would-be
buyers to pick up and redeploy Aereo's technology, Law360 said.

Erik Larson, writing for Bloomberg News, reported that TiVo, which
makes digital video recorders, was the winning bidder for Aereo's
trademarks, domain names and customer lists, while RPX Corp., a
patent risk-management company, bought the patent portfolio.
Information-technology consultant Alliance Technologies acquired
some equipment, the Bloomberg report said.

The Bloomberg report added that Aereo accused Walt Disney Co.'s ABC
and other broadcasters of derailing the company's bankruptcy
auction in a bid to stifle competition.  The company, according to
Bloomberg, told the Court that it sold its patents, hardware and
other assets piecemeal for less than $2 million -- a fraction of
what it sought -- after a key bidder backed out because it was
scared off by a suggestion by Disney and other broadcasters that it
may be liable for Aereo's past copyright violations, for which the
group is seeking almost $95 million in damages.

                        About Aereo, Inc.

With headquarters in Boston, Massachusetts, Aereo, Inc., is a
technology company that provided subscribers with the ability to
watch live or "time-shifted" local over-the-air broadcast
television on Internet-connected devices, such as personal
computers, tablet devices, and "smartphones."   Aero provided to
each subscriber access, via the Internet, to individual remote or
micro-antennas and a cloud-based DVR, which were maintained by the
Debtor in facilities within the local market.

Aereo, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
14-13200) in Manhattan, New York, on Nov. 20, 2014.  The Chapter 11
filing came five months after the U.S. Supreme Court ruled the
Debtor, with respect to live or contemporaneous transmissions, was
essentially performing as a traditional cable system under the
Copyright Act, and thus was violating broadcasters' copyrights
because it wasn't paying broadcasters any fees.

The Debtor has tapped William R. Baldiga, Esq., at Brown Rudnick
LLP, in New York, as counsel.  The Debtors has also engaged Argus
Management Corp. to provide the services of Lawton W. Bloom as CRO
and Peter Sullivan and Scott Dicus as assistant restructuring
officers.  Prime Clerk LLC is the claims and notice agent.

The Debtor disclosed $22.2 million in assets and $2.78 million in
liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.  Stinson Leonard
Street LLP serves as the Committee's counsel.


AFFIRMATIVE INSURANCE: Unit Inks Commutation Pact with Reinsurer
----------------------------------------------------------------
Affirmative Insurance Company, an indirectly-held, wholly-owned
subsidiary of Affirmative Insurance Holdings, Inc., entered into a
commutation and release agreement effective Jan. 1, 2015, with one
of its quota share reinsurers under that certain Automobile Quota
Share Reinsurance Contract effective June 30, 2014, and that
certain Automobile Quota Share Reinsurance Contract effective
Dec. 31, 2013.  

As compensation for the commutation, the Commuting Reinsurer paid
AIC $22.2 million in full satisfaction of the Commuting Reinsurer's
present and future liabilities to AIC under the Quota Share
Agreements.  The Commuting Reinsurer's participation in the Quota
Share Agreements was commuted at a 74.0% loss ratio.

On Feb. 25, 2015, AIC received and accepted a firm commitment from
the Commuting Reinsurer to participate in the quota share on an
in-force basis effective March 31, 2015, pursuant to the terms and
conditions of that certain Automobile Quota Share Reinsurance
Contract effective June 30, 2014.

                   About Affirmative Insurance

Addison, Tex.-based Affirmative Insurance Holdings, Inc., is a
distributor and producer of non-standard personal automobile
insurance policies for individual consumers in targeted geographic
markets.  Non-standard personal automobile insurance policies
provide coverage to drivers who find it difficult to obtain
insurance from standard automobile insurance companies due to
their lack of prior insurance, age, driving record, limited
financial resources or other factors.  Non-standard personal
automobile insurance policies generally require higher premiums
than standard automobile insurance policies for comparable
coverage.

Affirmative Insurance reported net income of $30.71 million on
$246 million of total revenues for the year ended Dec. 31,
2013, as compared with a net loss of $51.9 million on $209.8
million of total revenues in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $365
million in total assets, $492 million in total liabilities and
a $127 million total stockholders' deficit.

KPMG LLP, in Dallas, 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's
recent history of recurring losses from operations and its
probable failure to comply with certain financial covenants in the
senior secured and subordinated credit facilities in 2014 raise
substantial doubt about its ability to continue as a going
concern.


AIR MEDICAL: Moody's Puts 'B3' CFR on Review for Downgrade
----------------------------------------------------------
Moody's Investors Service placed the ratings of Air Medical
Holdings, LLC under review for downgrade, including the company's
B3 Corporate Family Rating, B3-PD Probability of Default Rating,
and debt instrument ratings at both Air Medical Holdings, LLC and
Air Medical Group Holdings, Inc.  The review was prompted by the
announcement on March 11, 2015 that funds managed by KKR have
signed a definitive agreement to acquire Air Medical from
affiliates of Bain Capital and Brockway Moran & Partners.

Although financing details have not been provided, Moody's expects
that financial leverage will increase as a result of the
acquisition of the company by KKR.  Moody's review of the ratings
will focus primarily on the financial leverage and the capital
structure that will result from the sale to KKR, as well as ongoing
operating trends at Air Medical.

Air Medical Holdings, LLC:

  -- Corporate Family Rating at B3

  -- Probability of Default Rating at B3-PD

  -- $200 million contingent cash pay term loan at Caa2 (LGD 6)

Air Medical Group Holdings, Inc.:

  -- Senior secured term loans at B3 (LGD 3)

  -- Senior secured notes at B3 (LGD 3)

The B3 Corporate Family Rating (currently under review) is
constrained by the company's high financial leverage, small
absolute size based on revenue and earnings, and very high bad debt
expense, principally tied to the self-pay portion of Air Medical's
revenues.  In addition, Moody's believes available cash and cash
flow will be used for growth initiatives and acquisitions to
strengthen the company's geographic footprint, instead of material
debt reduction. The rating also reflects aggressive financial
policies, evidenced by the mid-2013 special dividend to
shareholders, funded with $200 million of incremental debt.
Partially offsetting these risk factors are the company's
historically solid EBITDA margins and its strong market position as
the largest independent provider of community-based air ambulance
services in the United States.

The principal methodology used in this rating was the 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.

Headquartered in Lewisville, Texas, Air Medical is the largest
independent provider of air medical services in the world,
operating through subsidiaries, Air Evac Lifeteam, Med-Trans,
EagleMed, Reach Air Medical Services, AirMedCare Network, Lifeguard
and AirMed International, which collaborate with leading hospital
systems, medical centers and EMS agencies to offer access to
emergency medical care.  Air Medical operates at 231 air-base
locations and 22 ground operations bases across 34 U.S. states.
The company is majority owned by financial sponsor Bain Capital
Partners, LLC. For the twelve months ended Sep. 30, 2014, Air
Medical generated total net revenue of approximately $737 million.


ALLIED NEVADA: Meeting to Form Creditors' Panel Set for March 19
----------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on March 19, 2015, at 10:00 a.m. in the
bankruptcy case of Allied Nevada Gold Corp., et al.

The meeting will be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 2112
         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 Allied Nevada

Allied Nevada Gold Corp. ("ANV"), a Delaware corporation, is a
publicly traded U.S.-based gold and silver producer engaged in
mining, developing and exploring properties in the State of Nevada.
ANV's common stock trades on the NYSE and the TSX.

ANV was spun off from Vista Gold Corp. in 2006 and began operations
in May 2007.  Nevada-based mining properties acquired from Vista
include the Hycroft Mine, an open-pit heap leach operation located
54 miles west of Winnemucca, Nevada.  ANV controls 75 exploration
properties throughout Nevada as of Dec. 31, 2014,

On March 10, 2015, ANV and 13 affiliated debtors each filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.  The Debtors have requested that their cases
be jointly administered under Case No. 15-10503.  The cases are
assigned to Judge Mary F. Walrath.

The Debtors have tapped Blank Rome LLP and Akin Gump Strauss Hauer
& Feld LLP as attorneys; FTI Consulting Inc. as financial advisor;
Moelis & Company as financial advisor; and Prime Clerk LLC as
claims and noticing agent.

ANV disclosed $941 million in total assets and $664 million in
total debt as of Dec. 31, 2014.



ALLIED NEVADA: Receives NYSE Stock Delisting Notice
---------------------------------------------------
Allied Nevada Gold Corp. on March 13 disclosed that it received a
notice on March 10, 2015, from the NYSE MKT LLC indicating that the
NYSE MKT had suspended the Company's common stock from trading
immediately and determined to commence proceedings to delist the
Company's common stock pursuant to Section 1003(c)(iii) of the NYSE
MKT LLC Company Guide.  The NYSE MKT's determination was based on
the previously disclosed chapter 11 bankruptcy filings of the
Company and certain of its domestic direct and indirect
subsidiaries, which contemplate that the Company's existing common
stock will be extinguished pursuant to a pre-arranged plan of
reorganization.

Also on March 10, 2015, the Toronto Stock Exchange suspended the
Company's common stock from trading immediately while the TSX
reviews the Company's continued eligibility for listing under the
TSX's Expedited Review Process.  The suspension and possible
delisting are based on the chapter 11 bankruptcy filings of the
Company and certain of its domestic direct and indirect
subsidiaries, the Company's financial condition and/or operating
results, and whether the Company has adequate working capital and
appropriate capital structure.  A hearing to decide whether to
delist the Company's securities from the TSX is currently scheduled
for March 16, 2015.

The Company does not intend to take any further action to appeal
these decisions, and therefore it is expected that the common stock
will be delisted from both the NYSE MKT and the TSX following
completion of their proceedings.

                     About Allied Nevada

Allied Nevada Gold Corp. ("ANV"), a Delaware corporation, is a
publicly traded U.S.-based gold and silver producer engaged in
mining, developing and exploring properties in the State of Nevada.
ANV's common stock trades on the NYSE and the TSX.

ANV was spun off from Vista Gold Corp. in 2006 and began operations
in May 2007.  Nevada-based mining properties acquired from Vista
include the Hycroft Mine, an open-pit heap leach operation located
54 miles west of Winnemucca, Nevada.  ANV controls 75 exploration
properties throughout Nevada as of
Dec. 31, 2014,

On March 10, 2015, ANV and 13 affiliated debtors each filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.  The Debtors have requested that their cases
be jointly administered under Case No. 15-10503.  The cases are
assigned to Judge Mary F. Walrath.

The Debtors have tapped Blank Rome LLP and Akin Gump Strauss Hauer
& Feld LLP as attorneys; FTI Consulting Inc. as financial advisor;
Moelis & Company as financial advisor; and Prime Clerk LLC as
claims and noticing agent.

ANV disclosed $941 million in total assets and $664 million in
total debt as of Dec. 31, 2014.


ALLY FINANCIAL: Receives Non-Objection to CCAR Capital Plan
-----------------------------------------------------------
Ally Financial Inc. received a non-objection on its capital plan
from the Federal Reserve, including the proposed capital actions
contained in its 2015 Comprehensive Capital Analysis and Review
submission.  Ally's capital plan includes the continued payment of
dividends and interest to holders of its outstanding capital
securities, as well as a number of meaningful actions intended to
further rationalize the company's capital structure and drive
improved financial performance in the future, including:

  * Redemption of $1.3 billion of its Series G preferred
    securities outstanding in April of 2015;

  * Redemption or repurchase of its $1 billion in Series A
    preferred securities outstanding by the second quarter of
    2016;

  * Redemption of $500 million of its trust preferred securities
    outstanding in the first quarter of 2016; and

  * Additional repurchases of its high-cost unsecured debt.

"These actions are key steps to enable Ally to further advance its
plans to normalize its capital structure and reduce its funding
costs in the future, which will have a meaningful result on overall
performance," said Ally chief executive officer Jeffrey J. Brown.
"With respect to our operations, we have a strong capital and
liquidity profile to support our broad customer base, including our
continued momentum in expanding our auto finance growth channel."

Ally has provided a redemption notice for $1.3 billion of its
Series G preferred securities, with a redemption date of April 10.
As a result, the company expects to incur an approximately $1.2
billion reduction to common capital in the second quarter of 2015.

The capital plan also contemplates an additional $200 million
common capital reduction from the repurchase of high cost unsecured
debt and/or preferred securities.  The timing of the capital
actions will be subject to various factors including the company's
capital position, liquidity, financial performance and general
market conditions.

                       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 APPAREL: Robert Mintz Quits as Director
------------------------------------------------
Robert Mintz resigned as a member of the Board of Directors of
American Apparel, Inc., on March 5, 2015.  Mr. Mintz was a designee
of Lion/Hollywood L.L.C. under the Investment Agreement, dated as
of March 13, 2009, as amended, between the Company and Lion.  On
March 5, 2015, Lion informed the Company of its intention to
designate Jeff Chang, a director at Lion Capital, to replace Mr.
Mintz as a Class C director, according to a document filed with the
Securities and Exchange Commission.

                       About American Apparel

American Apparel is a vertically-integrated manufacturer,
distributor, and retailer of branded fashion basic apparel based
in downtown Los Angeles, California.  As of Sept. 30, 2014,
American Apparel had approximately 10,000 employees and operated
245 retail stores in 20 countries including the United States and
Canada.  American Apparel also operates a global e-commerce site
that serves over 60 countries worldwide at
http://www.americanapparel.com. In addition, American Apparel
operates a leading wholesale business that supplies high quality
T-shirts and other casual wear to distributors and screen
printers.

Amid liquidity problems and declining sales, American Apparel in
early 2011 reportedly tapped law firm Skadden, Arps, Slate,
Meagher & Flom and investment bank Rothschild Inc. for advice on a
restructuring.

In April 2011, American Apparel said it raised $14.9 million in
rescue financing from a group of investors led by Canadian
financier Michael Serruya and private equity firm Delavaco Capital
Corp., allowing the casual clothing retailer to meet obligations
to its lenders for the time being.  Under the deal, the investors
were buying 15.8 million shares of common stock at 90 cents
apiece.  The deal allows the investors to purchase additional
27.4 million shares at the same price.

American Apparel has been in the red as far back as 2010.  The
Company reported a net loss of $106.3 million on $634 million
of net sales for the year ended Dec. 31, 2013, as compared with a
net loss of $37.3 million on $617 million of net sales for the
year ended Dec. 31, 2012.  American Apparel posted a net loss of
$39.3 million on $547 million of net sales for the year ended
Dec. 31, 2011, compared with a net loss of $86.3 million on
$532.98 million of net sales during 2010.  In 2011, American
Apparel announced a restatement of its 2009 financial reports.

The Company's balance sheet at Sept. 30, 2014, the Company had
$307.2 million in total assets, $395 million in total
liabilities and a $87.6 million total stockholders' deficit.

                           *     *     *

The TCR reported on Nov. 21, 2013, that Moody's Investors Service
downgraded American Apparel Inc.'s corporate family rating to
Caa2.  The clothing retailer's probability of default was also
lowered one level and the outlook is negative.

As reported by the TCR on Sept. 2, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Los Angeles-based
American Apparel Inc. to 'CCC-' from 'CCC'.  The outlook is
negative.

"The downgrade reflects our assessment that a debt restructuring
appears inevitable within six months, absent unanticipated
significantly favorable changes in the company's circumstances,"
said Standard & Poor's credit analyst Ryan Ghose.


AMPLIPHI BIOSCIENCES: Enters Into $13-Mil. Financing Agreements
---------------------------------------------------------------
AmpliPhi BioSciences Corporation has entered into definitive
purchase agreements of common stock and warrants with a group of
institutional accredited investors, including both existing and new
investors, as well as with its strategic alliance partner Intrexon,
to raise approximately $13,000,000 in a private placement
financing.  Pursuant to the purchase agreements, the Company will
issue an aggregate of 78,787,880 shares of the Company's common
stock at a price per share of $0.165, as well as the sale and
issuance of warrants to purchase 0.25 shares of common stock for
each share of common stock per warrant share.  The warrants, which
represent the right to purchase an aggregate of 19,696,971 shares
of common stock, expire in March 2020 and will be exercisable at a
price of $0.215 per share.  The warrants will be exercisable
beginning on the later of (i) the first anniversary of the date of
issuance and (ii) the date AmpliPhi effects a reverse stock split
or increases the number of authorized shares of common stock, in
either case in an amount sufficient to permit the exercise in full
of the warrants issued in this offering. If the reverse stock split
or share increase occurs before the first anniversary, the warrants
will be exercisable at that time.

Estimated net proceeds from the placement will be approximately
$12,155,000.  The private placement is expected to close on or
about March 16, 2015, subject to customary closing conditions.

Roth Capital Partners and Griffin Securities, Inc. served as
placement agents for the offering.

"AmpliPhi is looking forward to an exciting 2015 as our programs
approach the clinic.  This financing round provides the necessary
capital to advance our phage therapy programs into clinical trials.
Together with our world-class partners, which include notable
research institutions and our strategic collaborator Intrexon
Corporation, we are well positioned to finally realize the
potential of phage-based therapies to make a key contribution to
addressing the global need for alternative therapies that address
the potentially devastating effects of drug resistant infections,"
said Jeremy Curnock Cook, Chairman and Interim CEO, AmpliPhi.

AmpliPhi will use the proceeds from the fundraising to advance its
three programs in methicillin-resistant staphylococcus aureus,
Pseudomonas aeruginosa infections in Cystic Fibrosis and
Clostridium difficile.  For its most advanced phage program,
AmpliPhage-002 in MRSA, AmpliPhi intends to file an IND and
commence Phase I clinical trials by year-end 2015.  In its P.
aeruginosa program (AmpliPhage-001) the Company expects to complete
inhalation toxicology studies by the end of 2015.  The Company's
goal with respect to AmpliPhage-004 in C. difficile is to conclude
pre-clinical efficacy studies during 2015.

Commenting on Intrexon's investment into AmpliPhi, Gregory Frost,
Ph.D., senior vice president and head of Intrexon's Health Sector
said, "We are increasing our level of commitment to these
collaborative programs with AmpliPhi and are pleased to support the
Company in their efforts to develop next-generation phage therapies
against some of the most challenging infectious diseases."

                           About AmpliPhi

AmpliPhi Biosciences Corp. is a biopharmaceutical company that
develops bacteriophage-based therapeutics.  It also develops an
internally generated pipeline of naturally occurring viruses
called bacteriophage (Phage) for the treatment of bacterial
infection, such as drug-resistant strains of bacteria that are
commonly found in the hospital setting.  The company's Phage
discovery also focuses on acute & chronic lung, sinus and
gastrointestinal infections.  AmpliPhi Biosciences was founded in
March 1989 and is headquartered in Glen Allen, Virginia.

The Company reported a net loss of $57.6 million on $325,000 of
total revenue for the year ended Dec. 31, 2013, compared with a
net loss of $1.11 million on $664,000 of total revenue in 2012.

PBMares, LLP, in Richmond, Virginia, 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 had recurring losses from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

As of Sept. 30, 2014, the Company had $28.4 million in total
assets, $17.08 million in total liabilities and $11.3 million in
total stockholders' equity.


ANACOR PHARMACEUTICALS: Reports $10 Million Net Loss for Q4
-----------------------------------------------------------
Anacor Pharmaceuticals, Inc., reported a net loss of $10.12 million
on $9.64 million of total revenues for the three months ended Dec.
31, 2014, compared to net income of $130.7 million on $8.48 million
of total revenues for the same period in 2013.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $87.1 million on $20.68 million of total revenues compared to
net income of $84.8 million on $17.2 million of total revenues in
2013.

"2014 was a significant year for Anacor.  Our first drug, KERYDIN,
was approved by the FDA for the topical treatment of onychomycosis
of the toenails.  KERYDIN is the first oxaborole antifungal product
approved for use in the United States.  We also entered into an
exclusive U.S. agreement with Sandoz Inc. to commercialize KERYDIN,
which was launched in September through its branded dermatology
division, PharmaDerm," said Paul L. Berns, Chairman and chief
executive officer of Anacor.  "In addition, we initiated the
pivotal Phase 3 studies of AN2728 for the treatment of
mild-to-moderate atopic dermatitis in children and adults in the
first quarter of 2014.  The studies have been enrolling well, and
we currently expect to announce top-line data in the third quarter
of 2015.  We believe that Anacor is well positioned and look
forward to the opportunity to continue to create long-term value
for our stakeholders."

Cash, cash equivalents and investments totaled $191.6 million at
Dec. 31, 2014, compared to $166.8 million at Dec. 31, 2013.
Balances at Dec. 31, 2014, and 2013 include short-term and
long-term investments, as well as $3.7 million and $4.6 million of
restricted investments, respectively.

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

                        http://is.gd/za99HE

                     About Anacor Pharmaceuticals

Palo Alto, Calif.-based Anacor Pharmaceuticals (NASDAQ: ANAC) is a
biopharmaceutical company focused on discovering, developing and
commercializing novel small-molecule therapeutics derived from its
boron chemistry platform.  Anacor has discovered eight compounds
that are currently in development.  Its two lead product
candidates are topically administered dermatologic compounds -
tavaborole, an antifungal for the treatment of onychomycosis, and
AN2728, an anti-inflammatory PDE-4 inhibitor for the treatment of
atopic dermatitis and psoriasis.

The Company's balance sheet at Sept. 30, 2014, showed $159 million
in total assets, $90.2 million in total liabilities, $4.95 million
in redeemable common stock and $63.4 million in total
stockholders' equity.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $77.02 million on $11.04 million of total revenues
compared to a net loss of $46 million on $8.74 million of total
revenues for the same period in 2013.


AP-LONG BEACH: Court Approves Hiring of Mount Nebo as Broker
------------------------------------------------------------
AP-Long Beach Airport LLC sought and obtained permission from the
Hon. vincen P. Zurzolo of the U.S. Bankruptcy Court for the Central
District of California to employ Mount Nebo Capital, Inc. as
broker, effective as of Jan. 28, 2015.

The Court authorized the retention of Mount Nebo in connection with
the Debtor's solicitation and placement of post-petition
financing.

The Court also approved the $385,000 payment of commission from the
proceeds of the postpetition financing upon closing (the
"Commission Fee").

David Blitz, principal of Mount Nebo, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

Mount Nebo can be reached at:

       David Blitz
       MOUNT NEBO CAPITAL, INC.
       118 N Laurel Ave
       Los Angeles, CA 90048
       Tel: (310) 413-2803
       E-mail: David@NeboCapital.com

                         About AP-Long Beach

AP-Long Beach Airport LLC, which operates a 206,945-square foot
building at Long Beach Airport, sought protection under Chapter 11
of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 14-33372) on Dec.
19, 2014.  The case is assigned to Judge Vincent P. Zurzolo.

The Debtor's counsel is Alan J Friedman, Esq., and Kerri A Lyman,
Esq., at Irell & Manella LLP.

The Debtor disclosed $44,638,372 in assets and $34,812,495 in
liabilities as of the Chapter 11 filing.


ARCHDIOCESE OF ST. PAUL: Panel Hires Stinson Leonard as Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of The Archdiocese of
Saint Paul and Minneapolis seeks authorization from the U.S.
Bankruptcy Court for the District of Minnesota to retain Stinson
Leonard Street LLP as counsel for the Committee, effective Feb. 23,
2015.

The Committee requires Stinson Leonard to:

   (a) consult with the Debtor and the office of the U.S. Trustee
       regarding administration of the case;

   (b) advise the Committee with respect to its rights, powers,
       and duties as they relate to the case;

   (c) investigate the acts, conduct, assets, liabilities, and
       financial condition of the Debtor;

   (d) assist the Committee in analyzing the Debtor's pre-petition

       and post-petition relationships with its creditors, equity
       interest holders, employees, and other parties in interest;

   (e) assist and negotiate on the Committee's behalf in matters
       relating to the claims of the Debtor's other creditors;

   (f) assist the Committee in preparing pleadings and
       applications as may be necessary to further the Committee's

       interests and objectives;

   (g) research, analyze, investigate, file and prosecute
       litigation on behalf of the Committee in connection with
       issues including but not limited to avoidance actions or
       fraudulent conveyances;

   (h) represent the Committee at hearings and other proceedings;

   (i) review and analyze applications, orders, statements of
       operations, and schedules filed with the Court and advising

       the Committee regarding all materials;

   (j) aid and enhance the Committee's participation in    
       formulating a plan;

   (k) assist the Committee in advising unsecured creditors of the

       Committee's decisions, including the collection and filing
       of acceptances and rejections to any proposed plan;

   (l) negotiate and meditate issues relating to the value and
       payment of claims held by the Committee's constituency; and

   (m) perform other legal services as may be required and are
       deemed to be in the interests of the Committee.

Stinson Leonard will be paid at these hourly rates:

       Robert Kugler                 $620
       Edwin Caldie                  $420
       Katherine Becker              $410
       Amanda Schlitz, Associate     $360
       Phillip Ashfield, Associate   $340
       Aong Moua, Paralegal          $285
       Partners                      $410-$640
       Of Counsel                    $320-$580
       Associates                    $325-$380
       Staff Attorneys               $230-$320
       Paralegals                    $195-$270

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

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

Stinson Leonard can be reached at:

       Robert T. Kugler, Esq.
       STINSON LEONARD STREET LLP
       150 South Fifth Street
       Minneapolis, MN 55402
       Tel: (612) 335-1645
       E-mal: robert.kugler@stinsonleonard.com

                    About Archdiocese of St. Paul

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

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

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

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

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

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


ASPEN GROUP: Reports $1.24 Million Net Loss for Third Quarter
-------------------------------------------------------------
Aspen Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.24 million on $1.28 million of revenues for the three months
ended Jan. 31, 2015, compared to a net loss of $1.72 million on $1
million of revenues for the same period in 2014.

For the nine months ended Jan. 31, 2015, the Company reported a net
loss of $3.23 million on $3.67 million of revenues compared to a
net loss of $4.22 million on $2.81 million of revenues for the nine
months ended Jan. 31, 2014.

As of Jan. 31, 2015, Aspen Group had $4.56 million in total assets,
$3.67 million in total liabilities, and $883,000 in total
stockholders' equity.

"This is an exciting time for Aspen, as our School of Nursing new
student enrollments are exceeding our aggressive forecasts,
resulting from the success of our recent BSN marketing launch. This
sets the foundation for an acceleration of our growth rate in
Aspen's fiscal fourth quarter," said Aspen Group Chairman and CEO
Michael Mathews.

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

                        http://is.gd/c4pkcV

                          About Aspen Group

Denver, Colo.-based Aspen Group, Inc., was founded in Colorado in
1987 as the International School of Information Management.  On
Sept. 30, 2004, it was acquired by Higher Education Management
Group, Inc., and changed its name to Aspen University Inc.  On
May 13, 2011, the Company formed in Colorado a subsidiary, Aspen
University Marketing, LLC, which is currently inactive.  On
March 13, 2012, the Company was recapitalized in a reverse merger.

Aspen's mission is to become an institution of choice for adult
learners by offering cost-effective, comprehensive, and relevant
online education.  Approximately 88 percent of the Company's
degree-seeking students (as of June 30, 2012) were enrolled in
graduate degree programs (Master or Doctorate degree program).
Since 1993, the Company has been nationally accredited by the
Distance Education and Training Council, a national accrediting
agency recognized by the U.S. Department of Education.

Aspen Group incurred a net loss of $5.35 million for the year
ended April 30, 2014, a net loss of $6 million in 2012 and a net
loss of $2.13 million in 2011.


BETHANY COLLEGE: S&P Cuts Rating on 2011 A/B Revenue Bonds to BB+
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long term rating to
'BB+' from 'BBB-' on the County Commission of Brooke County,
W.Va.'s series 2011A and 2011B revenue bonds, issued for Bethany
College.  The outlook is stable.

"The lowered rating reflects our view of the college's significant
decline in net tuition revenue in fiscal 2014 as well as multiple
years of operating deficits with similar results expected in the
future," said Standard & Poor's credit analyst Jessica Matsumori.
"The ongoing deficits have weakened financial resource ratios to
levels more consistent with a lower rating," Ms. Matsumori added.

Bethany College is a private, nonprofit corporation organized in
West Virginia, affiliated with the Christian Church (Disciples of
Christ).  The college, founded in 1840, is West Virginia's oldest
college.  Bethany's 1,300-acre campus is near the panhandle of West
Virginia in the foothills of the Allegheny Mountains.



BINDER & BINDER: U.S. Bank Opposes Claimants Representative
-----------------------------------------------------------
U.S. Bank, National Association, objects to Binder & Binder - The
National Social Security Disability Advocates (NY), LLC, et al.'s
motion for permission to appoint a claimants representative.

U.S. Bank, in its capacity as administrative agent under the
Postpetition Revolving Credit and Security Agreement dated
Dec. 23, 2014, among the Debtors, the lenders party thereto from
time to time, and the DIP Agent, explained that the Debtors failed
to offer any sound business reason for employing the claimant
representative at this time or the financial wherewithal to support
such expense.

On Feb. 11, 2015, the Debtors filed a motion asking for permission
to appoint Melanie L. Cyganowski, a member of Otterbourg P.C., as
the claimants representative to represent the interests of
claimants during the pendency of the Chapter 11 cases, effective as
of the Petition Date.

Mr. Cyganowski will, among other things:

   a) consult with the Debtors and their professionals to ensure
that the privacy of claimant information is maintained;

   b) ensure that the Debtors' prepetition procedures for
maintaining claimant records are maintained during the course of
the cases; and

   c) review confidential information relating to claimants
maintained by the Debtors.

To assist the claimant representative fulfill her duties in the
cases, the Debtors will provide the claimants representative with a
report, roughly every 120 to 150 days from the Petition Date.

The Debtors propose to compensate Otterbourg on an hourly basis at
these hourly rates:

         Members and Counsel             $665 - $940
         Associates                      $275 - $665
         Paraprofessionals               $260 - $265

The Debtors will reimburse the claimant representative and
Otterbourg for all reasonable out-of-pocket expenses incurred in
connection with the assignment.

To the best of the Debtors' knowledge, information and belief,
neither Ms. Cyganowski nor Otterbourg have a connection with, hold
or represent any interest adverse to the Debtors, their creditors,
or any other party-in-interest, or their respective attorneys and
accountants, except as may be set forth in the Cyganowski
declaration.

U.S. Bank is represented by:

         John J. Ramirez, Esq.
         KATTEN MUCHIN ROSENMAN LLP
         575 Madison Avenue
         New York, NY 10022-2585
         Tel: (212) 940-8800
         Fax: (212) 940-8776

              - and -

         Kenneth J. Ottaviano, Esq.
         Karin H. Berg, Esq.
         525 West Monroe Street
         Chicago, IL 60661-3693
         Tel: (312) 902-5200
         Fax: (312) 902-1061

The Debtors are represented by:

         Kenneth A. Rosen, Esq.
         Mary E. Seymour, Esq.
         Cassandra M. Porter, Esq.
         Nicholas B. Vislocky, Esq.
         LOWENSTEIN SANDLER LLP
         1251 Avenue of the Americas, 17th Floor
         New York, NY 10020
         Tel: (212) 262-6700
         Tel: (212) 262-7402

                     About Binder & Binder

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

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

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

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



BIOLIFE SOLUTIONS: Reports $3.3 Million Net Loss for 2014
---------------------------------------------------------
BioLife Solutions, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$3.30 million on $6.19 million of total revenue for the year ended
Dec. 31, 2014, compared with a net loss of $1.08 million on $8.94
million of total revenue during the prior year.

As of Dec. 31, 2014, Biolife Solutions had $16.07 million in total
assets, $2.13 million in total liabilities and $13.9 million in
total shareholders' equity.

On Dec. 31, 2014, the Company had $9.94 million in cash, cash
equivalents and short term investments, compared to cash and cash
equivalents of $156,000 at Dec. 31, 2013.

For the three months ended Dec. 31, 2014, the Company reported a
net loss of $996,000 on $1.67 million of total revenue compared to
a net loss of $485,000 on $2.28 million of total revenue for the
same period in 2013.

Mike Rice, BioLife's president & CEO, said, "2014 was a
transformational year for BioLife.  With our equity raise
completed, the elimination of all debt and our uplisting to NASDAQ,
we have positioned BioLife to respond to anticipated product demand
due to growth in the regenerative medicine market. We also set the
stage to become a leading provider of controlled temperature
shipping containers and related software applications for thermally
sensitive biologic payloads, such as the clinical use cells and
tissues currently being developed and commercialized by our
regenerative medicine customers.  Our biologistex joint venture
represents a significant growth opportunity for BioLife."

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

                        http://is.gd/ONkhEF

                      About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc., develops and
markets patented hypothermic storage and cryo-preservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.


BLACKBOARD INC: Moody's Affirms 'B2' CFR & Keeps Negative Outlook
-----------------------------------------------------------------
Moody's Investors Service affirmed Blackboard Inc.'s B2 corporate
family rating, B2-PD probability of default rating, and B1 and Caa1
ratings on the company's first lien facilities and senior unsecured
notes, respectively.  The affirmation encompasses the $85 million
upsizing of Blackboard's senior secured term loan, the incremental
proceeds from which, along with cash on hand, Blackboard expects to
use to effect the acquisition of Schoolwires, a web-based, K-12
learning community management system provider, for a total of
approximately $92 million.  The outlook, which Moody's changed to
negative last month, has been maintained.

The B2 CFR and negative outlook reflect Blackboard's aggressive
financial policies at a time when the company is highly leveraged
and its core domestic business lines, with products viewed in some
cases as dated and cumbersome, are being challenged by competitors.
The Schoolwires acquisition represents an additional allocation of
resources devoted to incremental investments in product quality and
innovation, and to aggressive (albeit planned) expansion into the
domestic K-12 markets, in which Blackboard has been particularly
weak of late.  Representing about 15% of revenues, the domestic
K-12 segment has seen mid-single-digit revenue declines over the
past few years.  Even with expected synergies -- which would be
realized through the reduction of duplicative sales and marketing,
R&D, and corporate overhead expenses -- the acquisition represents
a debt-acquisition multiple of 10.0 times, which implies a
leveraging scenario relative to Blackboard's current,
Moody's-adjusted-debt-to-EBITDA of about 7.8 times.
However, Moody's views the scale of the incremental debt ($85
million represents 7% more debt on a base, also Moody's-adjusted,
of about $1.3 billion) as modest enough so as not to be a
destabilizing factor.  The acquisition is fully in line with the
company's efforts to shore up its K-12 product offerings and
customer base.  Further, the acquisition does not disrupt Moody's
expectations that, through the successful realignment of the
company's go-to-market strategy and its focus on product quality
and integration, overall revenue and earnings growth will help
Blackboard to realize modest deleveraging, to about 7.5 times, by
the end of this year.

The transaction occurs at a time when there are seasonal
working-capital demands.  Nevertheless, Moody's consider liquidity
adequate given our expectations for positive annual free cash flow
and significant availability under the $100 million revolver,
despite seasonal utilization.  Given the expectation of annual free
cash flows of about $35 to $40 million over the next 18 months, and
the investments required to maintain growth rates (e.g., new
technology and services to cross sell into existing customers, and
the integration of Schoolwires), Moody's sees modest improvement
from the low-single-digit free-cash-flow-to-debt ratios this year.
Indeed, in order to capture growth opportunities in a vertical that
is rapidly adopting new technologies, the company has focused not
on debt reduction but rather on spending initiatives to support
revenue growth, and Moody's negative outlook is based partly on
this development.  Additionally, a 7.5 times leverage measure is
still weak compared to most of Blackboard's software peers, and has
constrained the company as it navigates through a highly
competitive environment.  The negative outlook, then, also reflects
Moody's view that the company will in fact need to demonstrate
improved top line and profit measures over the ratings horizon in
order for the CFR to avoid being lowered to a B3.

The ratings could be downgraded if the company fails to show
progress in reducing debt-to-EBITDA toward 7.0x, liquidity declines
materially, or the company pursues further acquisitions that add to
financial leverage.  Over the long term, the B2 CFR could be
upgraded if the company were to demonstrate meaningful revenue
growth, if free-cash-flow-to-debt reaches double digits, and
adjusted debt to EBITDA were to fall to 4.5x on a sustained basis.

Issuer: Blackboard, Inc.

  -- Probability of Default Rating, Affirmed B2-PD

  -- Corporate Family Rating, Affirmed B2

  -- Senior secured credit facilities maturing 2016 and 2018,
     Affirmed B1

  -- Senior unsecured bond maturing 2019, Affirmed Caa1

  -- Outlook, Remains Negative

The principal methodology used in these ratings was Global Software
Industry published in October 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.


BON-TON STORES: Has 6.97M Loss in Fiscal Year Ended Feb. 1
----------------------------------------------------------
The Bon-Ton Stores, Inc., reported net income of $71.7 million on
$943 million of net sales for the 13 weeks ended Jan. 31, 2015,
compared with net income of $61.3 million on $915 million of net
sales for the 13 weeks ended Feb. 1, 2014.

For the 52 weeks ended Jan. 31, 2015, Bon-Ton Stores reported a net
loss of $6.97 million on $2.75 billion of net sales, compared with
a net loss of $3.55 million on $2.77 billion of net sales for the
52 weeks ended Feb. 1, 2014.

As of Jan. 31, 2015, the Company had $1.60 billion in total assets,
$1.52 billion in total liabilities and $87.6 million in total
shareholders' equity.

Kathryn Bufano, president and chief executive officer, commented,
"We were pleased with our sales performance in the fourth quarter
in both stores and eCommerce.  However, increased promotional
activity in support of our initiative to drive incremental traffic
as well as higher delivery expenses associated with our omnichannel
operations resulted in a reduced gross margin rate in the fourth
quarter.  We managed our inventory such that we ended the period in
line with our sales trend and well-positioned for spring selling."

Ms. Bufano continued, "As we look ahead, we are excited for
continued progress on our initiatives.  We are focused on building
compelling assortments, refocusing our brand, driving our
omnichannel business, maximizing operating efficiency and managing
our inventory for profitability.  To that end, we are looking
forward to the opening of our new eCommerce fulfillment center,
which we expect will facilitate significant expansion of our
shipping capacity with improved operational efficiency and support
the fastest growing area of our business.  Investments such as this
will continue paving the way for sustainable long-term profitable
growth."

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

                        http://is.gd/eLqy7c

                        About Bon-Ton Stores

The Bon-Ton Stores, Inc., with corporate headquarters in York,
Pennsylvania and Milwaukee, Wisconsin, operates 273 stores, which
includes 10 furniture galleries and four clearance centers, in 26
states in the Northeast, Midwest and upper Great Plains under the
Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman,
Herberger's and Younkers nameplates.  The stores offer a broad
assortment of national and private brand fashion apparel and
accessories for women, men and children, as well as cosmetics and
home furnishings.  Visit the Web site at
http://investors.bonton.com/      

Bon-Ton Stores reported a net loss of $3.55 million for the fiscal
year ended Feb. 1, 2014, a net loss of $21.6 million for the year
ended Feb. 2, 2013, and a net loss of $12.1 million for the year
ended Jan. 28, 2012.

                           *     *     *

As reported by the TCR on May 15, 2013, Moody's Investors Service
upgraded Bon-Ton Stores's Corporate Family Rating to 'B3' from
'Caa1' and its Probability of Default Rating to 'B3-PD' from
'Caa1-PD'.

"The upgrade of Bon-Ton's Corporate Family Rating considers the
company's ability to drive modest same store sales growth as well
as operating margin expansion beginning in the second half of 2012
and that these positive trends have continued, with the company
reporting that its same store were positive, and EBITDA margins
expanded, in the first fiscal quarter of 2013," said Moody's Vice
President Scott Tuhy.

As reported by the TCR on May 17, 2013, Standard & Poor's Ratings
Services affirmed the 'B-' corporate credit rating on Bon-Ton
Stores.


BOOMERANG SYSTEMS: Files Copy of Investor Presentation with SEC
---------------------------------------------------------------
On March 12, 2015, Boomerang Systems, Inc. made available an
investor presentation with the Securities and Exchange Commission
disclosing, among other things, the Company's operations highlight,
a copy of which is available at http://is.gd/acOOiv

                       About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(Pink Sheets: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.

Boomerang Systems incurred a net loss of $11.2 million for the year
ended Sept. 30, 2013, following a net loss of $17.4 million for the
year ended Sept. 30, 2012.

As of Dec. 31, 2014, Boomerang had $4.77 million in total assets,
$16.2 million in total liabilities and a $11.5 million total
stockholders' deficit.

                         Bankruptcy Warning

"Our operations may not generate sufficient cash to enable us to
service our debt.  If we were to fail to make any required payment
under the Loan Agreement, notes and agreements governing our
indebtedness or fail to comply with the covenants contained in the
Loan Agreement, notes and agreements, we would be in default.  A
debt default could significantly diminish the market value and
marketability of our common stock and could result in the
acceleration of the payment obligations under all or a portion of
our consolidated indebtedness, or a renegotiation of our Loan
Agreement with more onerous terms and/or additional equity
dilution.  If the debt holders were to require immediate payment,
we might not have sufficient assets to satisfy our obligations
under the Loan Agreement, notes or our other indebtedness.  It may
also enable their lenders under the Loan Agreement to foreclose on
the Company's assets and/or its ownership interests in its
subsidiaries.  In such event, we could be forced to seek
protection under bankruptcy laws, which could have a material
adverse effect on our existing contracts and our ability to
procure new contracts as well as our ability to recruit and/or
retain employees.  Accordingly, a default could have a significant
adverse effect on the market value and marketability of our common
stock," the Company said in the annual report for the year ended
Sept. 30, 2013.


BRAND ENERGY: Bank Debt Trades at 2% Off
----------------------------------------
Participations in a syndicated loan under which Brand Energy &
Infrastructure Services is a borrower traded in the secondary
market at 97.59 cents-on-the- dollar during the week ended Friday,
March 13, 2015, according to data compiled by LSTA/Thomson Reuters
MTM Pricing and reported in The Wall Street Journal.  This
represents a decrease of 0.39 percentage points from the previous
week, The Journal relates.  Brand Energy pays 375 basis points
above LIBOR to borrow under the  facility.  The bank loan matures
on Nov. 12, 2020, and carries Moody's B1 rating and Standard &
Poor's B rating.  The loan is one of the biggest gainers and losers
among 226 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



CACHE INC: Taps Consensus Advisory as Intellectual Property Broker
------------------------------------------------------------------
Cache, Inc. and its debtor-affiliates seek authorization from the
U.S. Bankruptcy Court for the District of Delaware to employ
Consensus Advisory Services LLC as intellectual property broker.

The Debtors require Consensus Advisory to:

   (a) communicate with the Company's management to familiarize
       itself, to the extent it deems appropriate and feasible,
       with the Company's business, operations, properties,
       financial condition and prospects;

   (b) if advisable under the circumstances, assist the Company in

       the preparation of, review and comment upon, a written
       document (a "Intellectual Property Information Memorandum")

       and/or an electronic data room containing information about

       the intellectual property of the Company, the Company's
       historical business, financial condition, results of
       operations and other material matters concerning the
       Company for the purpose of soliciting interest from third
       parties to engage in a transaction (it being understood
       that Consensus shall not be responsible for the production,

       validation, review or updating of any information included
       in the Intellectual Property Information Memorandum, if
       any, or data room);

   (c) advise the Company as to the timing, structure and pricing
       of any Transaction;

   (d) assist the Company with the selection, negotiation and
       consummation of any Transaction;

   (e) identify strategic parties who may have interest in
       acquiring the Company's intellectual property or otherwise
       provide value to the Company through such other form of
       Transaction that Consensus believes may be of possible
       interest to the Company, provided, however, any or all of
       which must be approved by the Company in its sole and
       absolute discretion, subject to approval by the Bankruptcy
       Court;

   (f) approach such prospective strategic parties and transmit to

       such parties the Intellectual Property Information
       Memorandum or otherwise provide access to informational
       materials as appropriate; and

   (g) be available at the Company's request to testify in front
       of the Bankruptcy Court regarding any proposed Transaction
       involving the Company's intellectual property.

The parties have agreed that Consensus will be compensated as
follows:

   -- Retainer: Subject to the approval of the Bankruptcy Court,
      the Company shall pay Consensus a retainer of $100,000 (the
      "Retainer Fee"), the payment of which is due upon execution
      of this agreement.  The Retainer Fee will be credited
      against the Success Fee.

   -- Success Fee: In the event the Company shall elect to enter
      into and consummate a Transaction either (i) during the term

      of Consensus's engagement hereunder or (ii) at any time
      during a period of 12 months following the effective date of

      the Company's termination of Consensus's engagement
      hereunder, the Company shall pay to Consensus from the first

      proceeds from such Transaction (or other assets if the
      Company so desires in its discretion), a fee ("Success Fee")

      determined with reference to the table below.

      Purchase Price of                     Success Fee as % of   
      Intellectual Property                 the Incremental
                                            Purchase Price

      Amounts up to $1.0 million                   10.0%
      Amounts between $1.0 and $2.0 million        12.5%
      Amounts over $2.0 million                    15.0%

      To the extent that a Transaction is completed with a "Pre-   

      Qualified Party" (identified in Exhibit A to the Consensus
      Agreement), the Success Fee shall be reduced by 50%.  The
      value of any non-cash consideration paid for the
      Intellectual Property shall be determined by mutual
      agreement between Consensus and the Company.

      Consensus acknowledges and agrees that the Company has no
      obligation to pay a Success Fee except in the event of, and
      solely from the proceeds received under, a Transaction.  The

      Company has sole discretion to select, approve and
      consummate any Transaction and no Success Fee shall be due
      or payable in the event the Company declines to pursue any
      Transaction.

   -- Sale of Intellectual Property as part of an acquisition of
      the other Cache Assets: In the event that the Intellectual
      Property assets are sold in conjunction with other assets of

      the Company ("Group Asset Purchase"), then there shall be a
      Success Fee due to Consensus based on an agreed upon
      allocation of the purchase price among the acquired assets
      and then applying the same success fee percentages described

      under paragraph 4.2 of the Consensus Agreement to the
      portion of the purchase price allocated to Intellectual
      Property.  In the event of a Group Asset Purchase, the
      Success Fee due to Consensus would not be less than    
      $150,000.

   -- Expense Reimbursement. In addition to any fees payable by
      the Company to Consensus hereunder, the Company shall,
      whether or not any transaction shall be proposed or
      consummated, reimburse, on a monthly basis in arrears,
      Consensus's out-of-pocket expenses incurred in connection
      with or arising out of Consensus's activities under or
      contemplated by the engagement during such preceding month.
      If the Company and Consensus determine that the process will

      be aided by developing an electronic data room, the Company
      shall be responsible for paying (i) the fees and expenses of

      any selected third-party data room directly to such party or

      (ii) if the Company wishes to use Consensus's in-house data
      room system, the Company shall pay to Consensus a one-time
      fee of $1,500 at or before the time such data room is made
      available to the first third party.

Douglas C. Stebbins, managing director and director of the
Valuation, Benchmarking, and Analytical Services Group at Consensus
Advisory, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

The Court for the District of Delaware will hold a hearing on the
application on April 1, 2015, at 10:30 a.m.  Objections were due
March 5, 2015.

Consensus Advisory can be reached at:

       Douglas C. Stebbins
       CONSENSUS ADVISORY SERVICES LLC
       73 Newbury Street
       Boston, MA 02116
       Tel: (617) 437-6500
       Fax: (617) 437-6506

                       About CACHE, Inc.

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

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

The Debtors are represented by Laura Davis Jones, Esq., Peter J.
Keane, Esq., and Colin R. Robinson, Esq., at Pachulski Stang Ziehl
& Jones LLP, in Wilmington, Delaware.  The Debtors' restructuring
advisors is FTI Consulting Inc., while their investment banker and
financial advisor is Janney Montgomery Scott LLC.  Thompson Hine
represents the Debtors in corporate and securities matter, while
Jackson Lewis P.C. represents the Debtors in employment matters.

The Debtors' communications services provider is Epiq Systems,
Inc., while their noticing and claims management services provider
is Kurtzman Carson Consultants.  A&G Realty Partners, LLC, serves
as the Debtors' real estate consultants.

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

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


CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 6% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
94.15 cents-on-the-dollar during the week ended Friday, March 13,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents a
decrease of 1.89 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
Sept. 24, 2020, and carries Moody's B2 rating and Standard & Poor's
CCC+ rating.  The loan is one of the biggest gainers and losers
among 226 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



CAESARS ENTERTAINMENT: Gathering Facts on Lost Pension Payments
---------------------------------------------------------------
Howard Stutz at Las Vegas Review-Journal reports that Steven
Pesner, Esq., at Akin Gump Strauss Hauer & Feld, the attorney for
Caesars Entertainment Operating Company, Inc., said the Company is
looking seriously at the issue surrounding retired company
employees who lost their pension checks due to the Company's
Chapter 11 filing.

Review-Journal relates that Gaming Control Board member Terry
Johnson asked Mr. Pesner about former workers who were told in
January 2015 the Company would stop making payments under a
Supplemental Employee Retirement Plan.  

According to the report, Mr. Pesner said he was still trying to
gather all the facts surrounding the issue.  "The issue will be
addressed in a manner that is legal, fair and equitable by the
company.  There are equitable considerations to be made.  This is
being looked at seriously, Review-Journal quoted Mr. Pesner as
saying.

Review-Journal says that an undisclosed number of the Company's
retired employees were told through a form letter Jan. 15, 2015,
that under the bankruptcy code, SERP payments "are considered a
general unsecured pre-petition obligation of the debtor and cannot
be paid without specific authorization from the bankruptcy court."
The report states that several retired workers said that their
checks stopped coming in January.  According to the report, one of
the Company's officials said "fewer than 50 people" were under the
plans affected by the bankruptcy, but legal sources claimed that
the number was more than double when multiple plans are
considered.

                    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.


CANCER GENETICS: Incurs $16.6 Million Net Loss in 2014
------------------------------------------------------
Cancer Genetics, Inc. reported a net loss of $16.6 million on
$10.19 million of revenue for the year ended Dec. 31, 2014,
compared to a net loss of $12.4 million on $6.60 million of revenue
for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, Cancer Genetics had $47.1 million in total
assets, $12.6 million in total liabilities and $34.6 million in
total stockholders' equity.

"Our business is gaining strong momentum across all key customer
categories," said Panna Sharma, president and chief executive
officer of Cancer Genetics.  "Our recent acquisitions are
contributing significantly to our revenue growth, and to our
differentiated global capabilities in oncology diagnostics and
genomics.  We expect continued positive impact from these strategic
initiatives in 2015 and beyond.  The ability to serve clients from
bench to bedside across multiple geographies as the oncology
diagnostics partner of choice is driving significant demand for our
services, especially among biotechnology and pharmaceutical
companies.  Both biopharma companies and leading clinical centers
are demanding biomarker guided clinical decision making and patient
management."

"2014 was a tremendous year for CGI on many fronts, highlighted by
numerous advancements in innovation, and execution," said Panna
Sharma.  "We made significant progress in expanding access to the
Company’s tests and services globally, generating adoption among
leading companies and clinicians in cancer care and treatment,"
continued Mr. Sharma.  "As we look into 2015 and beyond, we expect
expanded revenue growth, more rapid test adoption and the
achievement of a number of significant milestones and
market-defining partnerships that will continue to drive growth.

"The upcoming launch of our groundbreaking genomic panel in
multiple myeloma from our joint venture with the Mayo Clinic,
Oncospire, is further evidence of our commitment to innovation and
ability to execute targeted improvements in oncology patient care,"
continued Mr. Sharma.  "We are also excited about the progress in
the further development of our strategic and marketing initiatives
of our unique product for cervical cancer diagnosis and management,
FHACT, which has the potential to significantly improve cervical
cancer detection while reducing invasive procedures and costs."

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

                        http://is.gd/XgC7Aa

                       About Cancer Genetics

Rutherford, N.J.-based Cancer Genetics, Inc., is an early-stage
diagnostics company focused on developing and commercializing
proprietary genomic tests and services to improve and personalize
the diagnosis, prognosis and response to treatment (theranosis) of
cancer.


CATASYS INC: Expands its OnTrak Program
---------------------------------------
Catasys, Inc., has begun enrolling Health Insurance Exchange
members for its health plan for customers in Kansas.  This
represents the continued expansion of Catasys' covered membership
with one of the leading national health insurance providers from
its current eligible Medicare and Commercial members in Kansas.
Catasys' 52-week OnTrak program includes medical and psychosocial
interventions, as well as a care-coaching component.  Catasys
receives monthly fees for members enrolled in the OnTrak program
and is currently in Kansas, Louisiana, Florida, Massachusetts,
Oklahoma, West Virginia, Kentucky, Wisconsin and New Jersey.

"Extending to HIE members in Kansas, represents another in-state
expansion of the lives we are covering, and is indicative of the
national health plan's success and satisfaction with our OnTrak
program," said Rick Anderson, Catasys' president and COO.  "As a
leading provider of integrated healthcare services, we are pleased
that we have been able to demonstrate the clinical and financial
outcomes of our program, which started with just a single
population in Kansas, and has spread to Louisiana and Oklahoma and
with now additional members in Kansas.  We have seen a growing
number of HIE members become eligible for our program as these
members have proven to often have multiple comorbid conditions and
high healthcare costs."

                         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 $11.6 million on $541,000 of total revenues during
the prior year.

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.


CENTURYLINK INC: Fitch Rates Up to $500MM Sr. Unsec. Notes BB+
--------------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating to CenturyLink, Inc.'s
private offering of up to $500 million of 10-year senior unsecured
notes. Net proceeds from the offering will be used to repay
indebtedness on its revolving credit facility, a portion of which
was incurred to repay $350 million of debt that matured on Feb. 15,
2015. CenturyLink's Issuer Default Rating (IDR) is 'BB+' and the
Rating Outlook is Stable.

KEY RATING DRIVERS

The following factors support CenturyLink's ratings:

-- Fitch's ratings are based on the expectation that CenturyLink
    will demonstrate steady improvement in its revenue profile
    over the next couple of years given that rates of decline have

    moderated to nominal levels and could be flat in 2015;

-- Near-term consolidated free cash flows (FCFs) have
    strengthened and are expected to be relatively healthy in
    2015;

-- Liquidity is expected to remain relatively strong.

The following factors are embedded in CenturyLink's ratings:

-- CenturyLink's financial policy, which incorporates a net
    leverage target of up to 3.0x;

-- High margin voice revenues continue to decline but are largely

    being replaced by broadband and business services revenues.
    The latter sources have lower margins.

CenturyLink's consolidated revenues continue to show signs of
reaching stability, declining by a modest 0.4% in 2014, after
recording a 1.5% decline in 2013. Fitch continues to expect revenue
growth from strategic areas, including high-speed data, advanced
business services, as well as in managed hosting and cloud
computing services, to contribute to longer-term revenue
stability.

In May 2014, a 24-month, $1 billion repurchase program became
effective upon the completion of the previous $2 billion share
repurchase program and by the end of 2014, $200 million of shares
were repurchased. Share repurchases are being funded primarily out
of free cash flow.

On a gross debt basis, CenturyLink's leverage at yearend 2014 was
approximately 2.98x. Leverage has risen from the 2.84x posted in
2013 given slight pressure on EBITDA as service revenues continue
to shift to lower margin but strategic broadband and business
service revenue from higher-margin legacy voice revenues. Fitch
believes leverage will remain around 3.0x over the next couple of
years, in part due to a stabilization of EBITDA in 2016 or 2017, as
newer strategic services achieve greater scale.

CenturyLink's total debt was $20.7 billion at Dec. 31, 2014.
Financial flexibility is provided through a $2 billion revolving
credit facility, which matures in December 2019. As of Dec. 31,
2014, approximately $1.275 billion was available on the facility.
CenturyLink also has a $160 million uncommitted revolving letter of
credit facility.

In 2015, Fitch expects CenturyLink's FCF (defined as cash flow from
operations less capital spending and dividends) to be just over $1
billion, and higher than the $913 million in 2014. Expected FCF
levels reflect capital spending within the company's guidance of
approximately $3 billion for 2015. Within the capital budget, areas
of focus for investment include continued spending on data
center/hosting, broadband expansion and enhancement, as well as
spending on IPTV, the company's facilities-based video program.

Fitch believes CenturyLink has the financial flexibility to manage
upcoming maturities due to its FCF and credit facilities. Maturing
debt in 2015 totals $550 million, of which $350 million was repaid
in February 2015. In 2016, maturities amount to approximately $1.5
billion.

The principal financial covenants in the $2 billion revolving
credit facility limit CenturyLink's debt to EBITDA for the past
four quarters to no more than 4.0x and EBITDA to interest plus
preferred dividends (with the terms as defined in the agreement) to
no less than 1.5x. QC has a maintenance covenant of 2.85x and an
incurrence covenant of 2.35x. The facility is guaranteed by Embarq
Corporation, Qwest Communications International Inc., Qwest
Services Corporation (QSC) and Savvis Inc. (d/b/a CenturyLink
Technology Solutions) and its principal subsidiary.

Going forward, Fitch expects CenturyLink and QC will be
CenturyLink's only issuing entities. CenturyLink has a universal
shelf registration available for the issuance of debt and equity
securities.

KEY ASSUMPTIONS

-- Fitch assumes revenues will be flat in 2015, and will grow in
    the low single digits beginning in 2016. EBITDA margins in
    2015 and 2016 are expected to decline slightly from the 38.5%
    recorded in 2014 as higher margin legacy revenues continue to
    decline.

-- In 2015, Fitch expects consolidated capital spending to
    approximate $3 billion, similar to the amount spent in 2014.
    The company's $1 billion share repurchase program, which
    became effective in May 2014, is expected to be completed over

    an 18-to-24 month period.

RATING SENSITIVITIES

Fitch does not expect a positive rating action over the next
several years based on its assessment of the competitive risks
faced by CenturyLink and expectations for leverage.

A negative rating action could occur if:

-- Consolidated leverage through, but not limited to, operational
   performance, acquisitions, or debt-funded stock repurchases, is

   expected to be 3.5x or higher.



CENTURYLINK INC: Moody's Rates Proposed Series X Notes Ba2
----------------------------------------------------------
Moody's Investors Service has assigned a Ba2 rating to CenturyLink,
Inc.'s proposed offering of Series X notes due 2025.  The proceeds
from the notes offering will be used to repay a portion of the
indebtedness outstanding under CenturyLink's revolving credit
facility, a portion of which the company incurred to repay the $350
million Series M notes that matured on Feb. 15, 2015.  The
company's other ratings and negative outlook remain unchanged.

Moody's has taken this rating action:

CenturyLink, Inc.

  New Senior Unsecured Series X Notes due 2025: Assigned Ba2
(LGD5)

RATINGS RATIONALE

CenturyLink's Ba1 Corporate Family Rating reflects the company's
predictable cash flows, its broad base of operations, and its
strong market position, especially in its fiber-enabled large
markets.  These positives are offset by the challenges the company
faces in reversing the downward pressure on revenues and EBITDA
margins exacerbated by a tolerance for higher leverage.
Management's inclination to use a majority of its excess cash flow
for share repurchases also weighs on the rating.  Finally, the
expectation of significantly higher cash taxes in 2016 and beyond
will also prevent meaningful debt reduction.  Consequently, credit
protection measurements (i.e. debt to EBITDA) are expected to
remain relatively flat, at best.

Although unlikely given the company's 2014 share repurchase program
and current leverage target, Moody's could raise CenturyLink's
ratings if leverage were to be sustained below 3.0x (Debt / EBITDA,
Moody's adjusted) and free cash flow to debt were in the high
single digits.  More importantly, Fitch would need evidence that
management is committed to a more conservative financial policy.

Moody's could lower the ratings further if one of the following
occurs: a) leverage (Debt/EBITDA, Moody's adjusted) were to exceed
3.4x or free cash flow to debt fell below 5% on a sustained basis;
b) management were to signal further tolerance of additional
financial leverage; c) the share repurchase program was
accelerated, resulting in a likely increase of debt and/or strain
on liquidity; d) capital investment levels were to fall such that
the company's competitive position was further threatened.

The principal methodology used in this rating was Global
Telecommunications Industry published in December 2010.


CENTURYLINK INC: S&P Assigns 'BB' Rating on New Sr. Notes Due 2025
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating and '4' recovery rating to Monroe, La.-based
telecommunications provider CenturyLink Inc.'s proposed senior
notes due 2025 (amount to be determined).  The '4' recovery rating
indicates S&P's expectation for average (30%-50%) recovery in the
event of payment default.  S&P's recovery expectations are in the
upper half of the 30% to 50% range.

The company intends to use net proceeds from the notes, which will
be issued under rule 144A with registration rights, to repay
amounts outstanding under the revolving credit facility.

The 'BB' corporate credit rating and stable outlook on CenturyLink
are unchanged.  The transaction is unlikely to affect the company's
key credit measures, including leverage, which was about 3.7x as of
Dec. 31, 2014.  The ratings incorporate S&P's expectation that
leverage will remain in the high-3x area over the next couple of
years.

RATINGS LIST

CenturyLink Inc.

Corporate Credit Rating            BB/Stable/B

New Rating

CenturyLink Inc.

Notes due 2025
Senior Unsecured                   BB
  Recovery Rating                   4H



CEVA GROUP: 2021 Bank Debt Trades at 7% Off
-------------------------------------------
Participations in a syndicated loan under which Ceva Group is a
borrower traded in the secondary market at 93.55 cents-on-the-
dollar during the week ended Friday, March 13, 2015, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents an increase of 0.36
percentage points from the previous week, The Journal relates.
Ceva Group pays 550 basis points above LIBOR to borrow under the
facility.  The bank loan matures on March 13, 2021, and carries
Moody's B2 rating and Standard & Poor's B- rating.  The loan is
one of the biggest gainers and losers among 226 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



CHASSIX HOLDINGS: Bankruptcy Court Approves First Day Motions
-------------------------------------------------------------
Chassix Holdings, Inc. on March 13 disclosed that the Company and
its U.S. subsidiaries have received approval from the United States
Bankruptcy Court for the Southern District of New York for a
variety of First Day Motions related to its voluntary Chapter 11
restructuring and recapitalization of the Company.  Collectively,
the orders granted by the Court on either a final or interim basis
will help ensure that the Company continues normal business
operations throughout the financial restructuring process.

Among other things, the Court has authorized Chassix on an interim
basis to access up to $205 million of its new $250 million
debtor-in-possession financing.  The new financing, combined with
cash generated by the Company's ongoing operations, will be
available to Chassix to meet its operational and restructuring
needs.  In addition, the Court set a hearing date of April 17, 2015
for approval of the disclosure statement to solicit votes on
Chassix's prearranged plan of reorganization.

"The Court's approval of our first-day motions represents an
important, positive step for Chassix and will help ensure that
business operations in the United States and around the world
continue in the ordinary course," said Mark Allan, Chassix Chief
Executive Officer.  "We deeply appreciate the ongoing partnerships
of our valued customers and suppliers, and we are fully committed
to continuing to provide our customers with high-quality products
and services without interruption.  I want to thank all Chassix
employees for their continued hard work and dedication to our
Company."

On March 12, 2015, Chassix and its U.S. subsidiaries voluntarily
filed for relief under Chapter 11 of the United States Bankruptcy
Code to implement a pre-negotiated financial restructuring plan.
The plan, which has received support from 80% of its unsecured
bondholders and 71.5% of its senior secured bondholders, its
existing sponsor, and all of its largest customers, is intended to
enhance the Company's financial strength and position it to move
forward as a robust, well-capitalized global automotive supplier.

Additional information regarding Chassix's restructuring is
available at http://www.chassix.com

Court filings and information about the claims process are
available at https://cases.primeclerk.com/chassix or by calling
Chassix's claims agent, Prime Clerk, at 844-224-1137 (or
917-962-8896 for international calls).

Weil, Gotshal & Manges LLP is serving as legal counsel and Lazard
Freres & Co. LLC is serving as financial advisor to Chassix.  FTI
Consulting is providing interim management services to Chassix,
including operational evaluation, business plan development and
strategy implementation.

                     About Chassix Holdings

Chassix is a global manufacturer and supplier of aluminum and iron
chassis sub-frame components and powertrain products with both
casting and machining capabilities.  Based in Southfield, Michigan,
Chassix and its subsidiaries operate 23 manufacturing facilities
across six countries, providing safety critical automotive
components, having content on approximately 64% of the largest
platforms in North America.  Their product mix maintains an even
balance among trucks, minivans and SUVs, as well as small and
medium size cars and cross-over vehicles.

For the twelve months ended Dec. 31, 2014, the Debtors generated
$1.37 billion in revenue on a consolidated basis.  As of Dec. 31,
2014, the Debtors had $833 million in assets and $784 million in
liabilities on a consolidated basis.

Chassix Holdings, Inc., et al., sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 15-10578) in Manhattan on March 12,
2015, with a Chapter 11 plan that was negotiated with lenders and
customers.

Chassix Holdings estimated $500 million to $1 billion in assets and
debt.  The formal schedules of assets and liabilities are due March
26, 2015.

The Debtors have tapped Weil, Gotshal & Manges LLP, as attorneys;
Lazard Freres & Co, LLC, as investment banker; FTI Consulting, Inc.
to provide an interim CFO and additional restructuring services;
and Prime Clerk LLC, as claims and noticing agent.


CHASSIX HOLDINGS: March 19 Meeting Set to Form Creditors' Panel
---------------------------------------------------------------
William K. Harrington, Acting United States Trustee for Region 2,
will hold an organizational meeting on March 19, 2015, at 10:00
a.m. in the bankruptcy case of Chassix Holdings, Inc., et al.

The meeting will be held at:

         80 Broad Street, 4th Floor
         New York, NY 10004

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.

As reported in the Troubled Company Reporter on March 13, 2015,
Chassix Holdings, Inc., a provider of components to automakers,
sought bankruptcy protection after reaching terms of a balance
sheet restructuring with its lenders and its customers, which
include the Big 3 automakers Ford, GM, and Chrysler.



CHROMCRAFT REVINGTON: Arts And Crafts, Myron Offer to Buy Assets
----------------------------------------------------------------
Eric Monzo at Morris James LLP reports that Chromcraft Revington,
Inc., seeks to sell substantially all of its intellectual property
and potentially other assets to Arts And Crafts Industries Ltd.,
and substantially all of its furniture, fixtures and equipment to
Myron Bowling Auctioneers, Inc.

According to Morris James, the Company has these two private sales
lined up, while it continues to look for buyers for its
distribution and warehouse facilities.  The report says that
through pre-bankruptcy filing efforts, the Company received two
offers for its assets and entered into two separate asset purchase
agreements.  

Morris James relates that the Company wants to sell its assets
through private sales but will entertain higher offers received
prior to the sale hearing.  The Company, according to the report,
continues to market its two distribution and warehouse facilities
for sale.  

                    About Chromcraft Revington

Chromcraft Revington, Inc., designs and manufactures residential
and commercial furniture.  The Company is headquartered in West
Lafayette, Indiana with furniture manufacturing, warehousing and
distribution operations in Senatobia, Mississippi and Compton,
California; and through the second quarter of 2013, warehouse and
distribution operations in Delphi, Indiana.

The Company, which halted operations in 2014, filed for bankruptcy
(Bankr D. Del. Case No. 15-10482) on March 5, 2015, to shut down
operations under the Court's watch.

Judge Kevin Gross presides over the case.

The Debtor is represented by:

         Agatha Christina Mingos, Esq.
         James S. Yoder, Esq.
         WHITE AND WILLIAMS LLP
         824 North Market Street, Suite 902
         P.O. Box 709
         Wilmington, DE 19899-0709
         Tel: 302-467-4522
         Fax: 302-467-4555
         E-mail: mingosa@whiteandwilliams.com
                 yoderj@whiteandwilliams.com



CHROMCRAFT REVINGTON: March 20 Meeting Set to Form Creditors' Panel
-------------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on March 20, 2015, at 11:00 a.m. in the
bankruptcy cases of Chromcraft Revington, Inc. & Sport-Haley
Holdings, Inc.

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 Chromcraft Revington

Chromcraft Revington, Inc., a Delaware corporation incorporated in
1992, is engaged in the design, import, manufacture and marketing
of residential and commercial furniture.  The Company is
headquartered in West Lafayette, Indiana with furniture
manufacturing, warehousing and distribution operations in
Senatobia, Mississippi and Compton, California; and through the
second quarter of 2013, warehouse and distribution operations in
Delphi, Indiana.

As reported in the Troubled Company Reporter on March 9, 2015, Katy
Stech, writing for Daily Bankruptcy Review, reported that furniture
seller Chromcraft Revington Inc., which halted operations last
year, filed for bankruptcy on March 5 to shut down operations under
the court's watch.



CIVIC PARTNERS: 8th Cir. Dismisses Appeal on Ch 11 Plan Ruling
--------------------------------------------------------------
Ktiv.com reports that the 8th U.S. Circuit Court of Appeals
dismissed on March 3, 2015, Civic Partners Sioux City, LLC's appeal
on the Bankruptcy Court's 2013 order denying the Company's
reorganization plan.

As reported by he Troubled Company Reporter on Oct. 11, 2013,
Bankruptcy Judge Thad J. Collins denied confirmation of the
Company's second amended and substituted plan of reorganization,
which sought, among other things, to significantly reduce the
secured claim of its primary lender -- First National Bank -- and
to leave the City of Sioux entirely unsecured.  The Bank and the
City objected to the confirmation of the Plan on several grounds,
saying that the Plan failed to comply with key provisions of 11
U.S.C. Sec. 1129(a) and was not feasible.  The Bank and the City
claimed that the Company based plan terms on an improperly low
valuation of the building complex that serves as collateral.

Ktiv.com relates that the 8th Circuit Court dismissed the appeal,
saying three of the orders were not filed in time, and the 4th was
not within their jurisdiction to decide.

Civic Partners Sioux City, LLC, based in Huntington Beach,
California, filed for Chapter 11 bankruptcy (Bankr. N.D. Iowa Case
No. 11-00829) on April 14, 2011.  A. Frank Baron, Esq., at Baron,
Sar, Goodwin, Gill & Lohr, serves as the Debtor's counsel.  In its
petition, the Debtor estimated $1 million to $10 million in assets
and debts.  The petition was signed by Steven P. Semingson,
managing member.


CLOUDEEVA INC: Richard Honig Approved as Successor Trustee
----------------------------------------------------------
The Bankruptcy Court approved the appointment of Richard B. Honig
as the Chapter 11 successor trustee in the Chapter 11 cases of
Cloudeeva, Inc., et al.

Andrew R. Vara, Acting U.S. Trustee for Region 3, told the Court
that the amount of each bond has been initially fixed as:

   1. $780,000 for Cloudeeva, Inc., Case No. 14-24874; and

   2. $10,000 for Cloudeeva, Inc., Case No. 14-24875.

Mr. Honig will responsible for monitoring the amount of funds on
hand and to ensure that the bond is set in an amount that is, at a
minimum, 115% of the balance of funds on hand or such higher
percentage as he deems appropriate to protect the assets of the
estate.   Mr. Honig must prepare, file, and transmit an accounting
of the prior administration of the estates to the U.S. Trustee.

To the best of the U.S. Trustee's knowledge, Mr. Honig's
connections with the Debtor, creditors, any other
parties-in-interest, their respective attorneys and accountants,
the Acting U.S. Trustee, and persons employed in the Office of the
U.S. Trustee, are limited to the connections set forth in the
verified statement filed in support of the application.

On Feb. 10, 2015, the Court ordered that Stephen Gray is removed as
the Chapter 11 trustee, and directed the U.S. Trustee to appoint a
new trustee.  Scott Hammel, a creditor and party-in-interest, and
joined by Adesh Tyagi, requested the Court to vacate its order
appointing Mr. Gray as the Chapter 11 trustee.

Mr. Honig can be reached at:

         Richard B. Honig
         HELLRING LINDEMAN GOLDSTEIN & SIEGAL LLP
         One Gateway Center
         Newark, NJ 07102–5323

Mr. Tyagi is represented by:

         Arthur J. Abramowitz, Esq.
         Jerrold N. Poslusny, Jr., Esq.
         SHERMAN, SILVERSTEIN, KOHL, ROSE & PODOLSKY, P.A.
         308 Harper Drive, Suite 200
         Moorestown, NJ 08057
         Tel: (856) 662-0700

                      About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy 32
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.  The cases are assigned to Judge Kathryn
C. Ferguson.

Cloudeeva disclosed $4,989,375 in assets and $6,528,910 in
liabilities as of the Chapter 11 filing.  The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they later sought approval to tap Trenk, DiPasquale, Della
Fera & Sodono, P.C., to replace Lowenstein Sandler, who
retention was not formally approved by order of the Court.  The
Debtors also tapped Cole, Schotz, Meisel, Forman & Leonard,
P.A. as appellate counsel.  Kurtzman Carson Consultants LLC serves
as claims and noticing agent.

                           *     *     *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE Ltd.
BAPL asserted that the cases were not filed in good faith. The
Debtors subsequently filed an appeal challenging the dismissal of
their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings. Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy Court
or the District Court.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on Oct. 7, 2014.  The Plan will be funded by cash on-hand on the
Effective Date, cash revenues derived from the Debtors' continued
operations, and investment of $1.15 million from Cloudeeva India
Private Limited or their designee, along with their guarantee of
all payments to be made under Plan, in exchange for the equity of
the Reorganized Debtors, as agreed in the parties' Plan Support
Agreement.

The Court approved the appointment of Stephen Gray as Chapter 11
trustee for the Debtors' estate.  The trustee was represented by
Saul Ewing LLP.  Richard B. Honig was later appointed as the
Chapter 11 successor trustee for Cloudeeva Inc.


COLT DEFENSE: Hires Mackinac Partners as Restructuring Advisor
--------------------------------------------------------------
Colt Defense LLC entered into an agreement with Mackinac Partners,
effective as of March 8, 2015, to retain Mackinac Partners as
restructuring financial advisor to the Company and Keith A. Maib, a
senior managing director of Mackinac Partners, as the Company's
chief restructuring officer.  

According to a document filed with the Securities and Exchange
Commission, Mr. Maib will work on a day-to-day basis
collaboratively with the senior management team, the Company's
Governing Board, the restructuring committee and other Company
professionals with respect to the Company's restructuring.  In
addition to his duties as a chief restructuring officer of the
Company, Mr. Maib will provide other advisory services to the
Company as described in the Agreement, including to review and
analyze the Company's financial results, projections and
operational data.

As compensation for services to be rendered by Mackinac Partners,
including services to be rendered by Mr. Maib, under the Agreement,
the Company has agreed to pay Mackinac Partners $150,000 a month
for the duration of Mackinac Partners' engagement with the Company.
The Company will pay 70% of the monthly fee in advance each month
and the remaining 30% will be paid at the end of the engagement of
Mackinac Partners.  Other Mackinac Partners professionals may
render services to the Company, subject to terms and conditions of
the Agreement.

The Company will indemnify Mackinac Partners, various related
entities and their controlling persons, representatives and agents,
subject to terms and conditions of the Agreement.  Either the
Company or Mackinac Partners may terminate the Agreement at any
time upon 30 days' written notice to the other, subject to terms
and conditions of the Agreement.

                         About Colt Defense

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

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

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

                          *     *     *

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

As reported by the TCR in February 2015, Standard & Poor's Ratings
Services lowered its corporate credit rating on U.S.-based gun
manufacturer Colt Defense LLC to 'CCC-' from 'CCC'.  The downgrade
reflects an increased likelihood that the company may enter into a
debt restructuring in the coming months that S&P would consider a
distressed exchange and, hence, a default.


COUNTRY STONE: Hires Consultants to Wind Down Estates
-----------------------------------------------------
Country Stone Holdings, Inc., et al., seek authorization from the
Hon. Thomas L. Perkins of the U.S. Bankruptcy Court for the Central
District of Illinois to employ Megan Maynard, Aubrey George, and
Rick Burkamper as consultants, nunc pro tunc to
Feb. 13, 2015.

The Consultants will assist the Debtors as necessary to wind down
and close Debtors' bankruptcy estates and these Chapter 11 Cases.
In accordance with the terms of the Consulting Agreements, the
Consultants will perform the following services, among others, to
the extent they are desired or necessary:

   (a) prepare and file monthly operating reports for the Debtors;

   (b) assist in the marshalling of the Debtors' remaining assets
       for sale by the Debtors;

   (c) assist the Debtors in the claims reconciliation process;

   (d) assist the Debtors in connection with the Sale transaction
       with the Purchasers; and

   (e) assist the Debtors in the discovery process relating to the

       Committee's investigation into the liens and claims of
       First Midwest Bank.

The Consulting Agreements provide that the Consultants shall be
compensated for the services provided thereunder at reasonable
hourly rates, with Mr. Burkamper and Mr. George being paid $125 per
hour and Ms. Maynard being paid $75 per hour.

                      About Country Stone

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

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

Country Stone disclosed $45 million in liabilities.

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

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


COUTURE HOTEL: Hires Stumbo Hanson as Special Counsel
-----------------------------------------------------
Couture Hotel Corporation, aka Hugh Black-St Mary Enterprises,
Inc., asks for authorization from the Hon. Barbara J. Houser of the
U.S. Bankruptcy Court for the Northern District of Texas to employ
Stumbo Hanson, LLP as special counsel, effective Feb. 26, 2015.

Stumbo Hanson will serve as local counsel in the Kansas Litigation
and will advise and represent the Debtor in the Kansas Litigation.
More specifically, the lawyers of Pronske Goolsby & Kathman, P.C.
are not licensed to practice in Kansas and thus the employment of
Stumbo Hanson is necessary to address and monitor the Kansas
Litigation.

Prior to the Petition Date, Value Place Franchise Services, LLC
("Value Place") sued the Debtor in the United States District Court
for the District of Kansas in a case styled Value Place Franchise
Services, LLC v. Hugh Black-St. Mary Enterprises, Inc., now known
as Couture Hotel Corp., et al, Case No. 14-1152-DDC (the "Kansas
Litigation").  In the Kansas Litigation, Value Place sued the
Debtor and its principals principally for violations of a franchise
agreement related to the Las Vegas Independent hotel.

In connection with its representation in the Kansas Litigation,
Stumbo Hanson will charge for time at its normal and customary
rates for attorneys and legal assistants and will request
reimbursement for its out-of-pocket expenses.

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

Stumbo Hanson can be reached at:

       STUMBO HANSON, LLP
       2887 SW MacVicar Avenue
       Topeka, KS 66611
       Tel: (785) 267-3410
       Fax: (785) 267-9516

                        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.


CTI BIOPHARMA: Incurs $96 Million Net Loss for 2014
---------------------------------------------------
CTI Biopharma Corp. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common shareholders of $96.0 million on $60.07
million of total revenues for the year ended Dec. 31, 2014,
compared with a net loss attributable to common shareholders of
$49.6 million on $34.7 million of total revenues in 2013.

As of Dec. 31, 2014, the Company had $92.3 million in total assets,
$52.4 million in total liabilities, $1.44 million in common stock
purchase warrants and $38.5 million in total shareholders' equity.

For the three months ended Dec. 31, 2014, CTI Biopharma reported a
net loss attributable to common shareholders of $44.2 million on
$17.8 million of total revenues compared with net income
attributable to common shareholders of $10.19 million on $32.9
million of total revenues for the same period during the prior
year.

"In 2014, we successfully accomplished various key company
objectives, from achieving reimbursement in England/Wales and
securing a development and commercialization collaboration for
PIXUVRI, to pacritinib receiving Fast Track designation by the U.S.
FDA and reporting on data highlighting pacritinib's potential
therapeutic utility in blood-related cancer indications beyond
myelofibrosis," said James A. Bianco, M.D., CTI BioPharma's
president and CEO.  "Now, with positive top-line pacritinib data in
hand, we look forward to building on this momentum as we set our
sights on completing the second pacritinib Phase 3 trial and
potentially starting a regulatory submission as early as late in
2015.  We are committed to bringing this new treatment option to
patients with myelofibrosis as soon as possible."

                         Bankruptcy Warning

The Company believes that its present financial resources, together
with additional milestone payments projected to be received under
certain of its contractual agreements, its ability to control costs
and expected net sales of PIXUVRI, will only be sufficient to fund
its operations through mid-third quarter of 2015.  This raises
substantial doubt about the Company's ability to continue as a
going concern.  Further, the Company has incurred net losses since
inception and expect to generate losses for the next few years
primarily due to research and development costs for pacritinib,
PIXUVRI, Opaxio and tosedostat.  The Company's available cash and
cash equivalents were $70.9 million as of
Dec. 31, 2014.

The Company said it will need to raise additional funds.  It may
seek to raise such capital through public or private equity
financings, partnerships, collaborations, joint ventures,
disposition of assets, debt financings or restructurings, bank
borrowings or other sources of financing.  However, the Company has
a limited number of authorized shares of common stock available for
issuance and additional funding may not be available on favorable
terms or at all.

"If additional funds are raised by issuing equity securities,
substantial dilution to existing shareholders may result.  If we
fail to obtain additional capital when needed, we may be required
to delay, scale back or eliminate some or all of our research and
development programs, reduce our selling, general and
administrative expenses, be unable to attract and retain highly
qualified personnel, refrain from making our contractually required
payments when due (including debt payments) and/or may be forced to
cease operations, liquidate our assets and possibly seek bankruptcy
protection," the Company states in the Report.

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

                        http://is.gd/qsEyFT

                        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.


DAUGHTERS OF CHARITY: Prime Healthcare Backs Out of Sale Deal
-------------------------------------------------------------
Monica Clark, writing for National Catholic Reporter, reports that
Prime Healthcare Services withdrew from its $843 million deal with
the Daughters of Charity Health System in California to buy the
Company's six hospitals, saying that conditions imposed by
California's attorney general were too "burdensome and
restrictive."

According to National Catholic Reporter, Prime Healthcare was not
in favor of the Attorney General Kamala Harris' conditions, which
include keeping four of the hospitals open as full service acute
and emergency care for 10 years.  The report adds that Prime
Healthcare wanted to make only a five-year commitment.

As reported by the Troubled Company Reporter on Feb. 25, 2015,
Tracy Seipel at San Jose Mercury News reported that the Daughters
of Charity Health System officials said they had been prepared to
file for Chapter 11 bankruptcy protection if the deal on its sale
to Prime Healthcare Services for $843 million fell through.  The
Mercury News report stated that while California Attorney General
Kamala Harris on Friday approved the sale after months of review
and several public hearings.  The report said that had Ms. Harris
rejected the deal, it would have meant that the Company would
almost certainly have been forced to file for bankruptcy.

The Company's president and CEO Robert Issai said that he remains
hopeful that another buyer will be found, National Catholic
Reporter relates.

National Catholic Reporter says that the Santa Clara County has
indicated it is ready to make an offer for the O'Connor Hospital in
San Jose and St. Louise Regional Hospital in Gilroy.

The Company is continuing with the lawsuit it filed Feb. 23 against
Service Employees International Union-United Healthcare Workers
West for allegedly interfering with the sale to Prime, National
Catholic Reporter reports, citing Mr. Issai.  The Company,
according to the report, accuses SEIU-UHW  and Blue Wolf Capital --
a private equity firm whose purchase bid had not been accepted --
of "conspiring to hold hostage a proposed sale of DCHS for illegal
and extortive purposes."

Chris Rauber at San Francisco Business Times relates that Prime
Healthcare walked away from its sale deal with the Company to
purchase six safety net hospitals from the financially ailing
Daughters system.

          About The Daughters of Charity Health System

The Daughters of Charity Health System (DCHS) is a regional health
care system of six hospitals and two nursing colleges spanning the
California coast from the San Francisco Bay Area to Los Angeles.


DEERFIELD RANCH: March 27 Hearing on Cash Use Deal
--------------------------------------------------
The Bankruptcy Court will convene a final hearing on March 27,
2015, at 10:00 a.m., to consider approval of a stipulation
authorizing Deerfield Ranch Winery, LLC, to use cash collateral.

The stipulation between the Debtor and secured creditor Rabobank,
N.A., provides that:

   1. the Debtor is obligated to Rabobank under a term loan, with
an original principal balance of $8,000,000 and a current principal
balance of $7,659,000 and interest to Feb. 13, 2015, in the sum of
$162,743, and a Line of Credit;

   2. the Debtor will use cash collateral to continue operations at
the winery at March 31, 2015; and

   3. Rabobank will receive a replacement lien in the cash
collateral and in all personal property in which it now holds a
security interest, including accounts receivable, inventory, farm
products, general intangibles, books and records, and equipment.

As reported in the Troubled Company Reporter on Feb. 23, 2015, as
an operating winery, Deerfield requires use of its cash on a
continual basis in order to pay its employees and pay other routine
expenses in the ordinary course.

Rabobank N.A., Deerfield's primary secured lender asserts that it
holds a duly perfected security interest in substantially all of
Deerfield's assets, including its cash.  Deerfield does not believe
that any other creditor holds an interest in cash collateral.

                            Objection

Tracy Hope Davis, U.S. Trustee for Region 17, objected to the
Debtor's cash collateral motion, stating that the Debtor did not
provide an explanation as to which elements are necessary to avoid
immediate and irreparable harm.

The U.S. Trustee is represented by:

         Minnie Loo, trial attorney
         Office of the U.S. Trustee
         235 Pine Street, Suite 700
         San Francisco, CA 94104-2736
         Tel: (415) 705-3333
         Fax: (415) 705-3379
         E-mail: minnie.loo@usdoj.gov

Rabobank is represented by:

         Richard A. Rogan, Esq.
         Nicolas De Lancie, Esq.
         JEFFER MANGELS BUTLER & MITCHELL LLP
         Two Embarcadero Center, Fifth Floor
         San Francisco, CA 94111-3813
         Tel: (415) 398-8080
         Fax: (415) 398-5584
         E-mails: rrogan@jmbm.com
                  nde@jmbm.com

                   About Deerfield Ranch Winery

Deerfield Ranch Winery, LLC, is an award-winning winery located in
the heart of the Sonoma Valley, founded in 1982 by Robert and PJ
Rex.   The Deerfield estate is approximately 47 acres, located in
Kenwood, California, and was acquired in 2000.  Annual production
totals approximately 30,000 cases annually, including both
Deerfield brands and the winery's substantial custom-crush
business, which includes 12 small family-owned wineries.  The
winery LLC is owned by 87 members, who have contributed more than
$15 million to the business.

Deerfield Ranch Winery filed a Chapter 11 bankruptcy petition
(Bank. N.D. Cal. Case No. 15-10150) on Feb. 13, 2015.  The Debtor
disclosed $25,197,611 in assets and $12,041,939 in liabilities as
of the Chapter 11 filing.  Scott H. McNutt, Esq., and Shane J.
Moses, Esq., at McNutt Law Group LLP serve as the Debtor's counsel.
Jigsaw Advisors LLC acts as the Debtor's restructuring financial
advisor.  Judge Alan Jaroslovsky is assigned to the case.



DETROIT, MI: Emerges From Bankruptcy But Economic Hurdles Persists
------------------------------------------------------------------
While the City of Detroit (B3 stable) has made important strides in
its credit fundamentals as it emerges from Chapter 9 bankruptcy, it
continues to face a number of fiscal and economic headwinds that
limit its future growth, Moody's Investor Service says in a new
report, "Detroit Emerges from Bankruptcy Stronger, but Economic
Hurdles Persist."

Revitalizing Detroit's economy and improving its city operations
are crucial to its long term success, Moody's says.  In addition,
Detroit's ability to balance budgets amid the ongoing economic
challenges burdens the credit in the intermediate term.

"The city achieved three main successes during its Chapter 9
filing, including substantially reducing long-term debt and
retirement liabilities, but it also has a robust plan to reinvest
in its tax base and services and a strong new management team that
will benefit from ongoing state support," says Moody's Vice
President -- Senior Analyst Genevieve Nolan, and author of the
report.

Positively, Detroit is dedicating resources to revitalize and
strengthen its tax base through a proposed $1.4 billion
reinvestment plan focusing on Detroit Police, Detroit Fire, Finance
Department, General Services and blight removal.  The projects will
be funded with proceeds from a $120 million quality of life note
issued during bankruptcy, and as well as some funds from the city's
$275 million post-petition financing issued as it exited
bankruptcy.

Detroit was also able to significantly reduce its long-term
liabilities in bankruptcy, with its net direct debt outstanding
dropping to $1.8 billion from $2.5 billion. The city's new
management team will also benefit from ongoing state oversight and
support.

However, Detroit's economy and tax base continues to suffer amid
valuation declines, weak demographic statistics, and a dwindling
population.  Unemployment is still high 13.0% as of November 2014,
and its decline from a peak of 25% in 2009 is partly attributable
to a persistently shrinking labor force.

The city also expects assessed valuation declines to persist
through 2020 as the State of Michigan and city management reviews
its assessment process.  While income tax receipts are estimated to
rise 2.1% annually, key revenues from property taxes are projected
to drop by 1.3% annually through the same period.  By the end of
2023, expenses and revenue projections estimate an ending cash
balance of $65.8 million, a positive yet still narrow liquidity
position.  Negative variations from these projections could
jeopardize the city's financial plans.

While fixed costs, including annual debt service and retiree
benefit contributions, were reduced during bankruptcy, they will
grow after 2023 when the city is required to begin making pension
contributions again.

"The city's challenges are largely ones that bankruptcy could not
immediately fix and may still result in weaker credit quality over
the near to medium term," said Nolan.


DORAL FINANCIAL: Meeting to Form Creditors' Panel Set for March 23
------------------------------------------------------------------
William K. Harrington, Acting United States Trustee for Region 2,
will hold an organizational meeting on March 23, 2015, at 10:00
a.m. in the bankruptcy case of Doral Financial Corporation.

The meeting will be held at:

         80 Broad Street, 4th Floor
         New York, NY 10004

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 Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices
in
New York City, Coral Gables, Florida and San Juan, Puerto Rico.
DFC
has three wholly-owned subsidiaries: (i) Doral Properties, Inc.,
(ii) Doral Insurance Agency, LLC ("Doral Insurance"), and (iii)
Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.  The case is assigned to
Judge Shelley C. Chapman.

DFC estimated $50 million to $100 million in assets and $100
million to $500 million in debt as of the bankruptcy filing.

The Debtor tapped Ropes & Gray LLP as counsel.

The Debtor's Chapter 11 plan and Disclosure Statement are due July
9, 2015.  The initial case conference is set for April 10, 2015.



DPX HOLDINGS: Moody's Retains B3 CFR Over EUR150MM Term Loan Add-On
-------------------------------------------------------------------
Moody's Investors Service said DPx Holdings B.V.'s ("DPx", formerly
known as JLL/Delta NewCo B.V. or Patheon) ratings, including its B3
Corporate Family Rating, B2 rating on the senior secured facilities
and Caa2 rating on the senior unsecured notes, are unaffected by
the company's EUR150 million term loan add-on. The rating outlook
remains stable.

The principal methodology used in this rating 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.

DPx Holdings B.V. is a leading provider of commercial manufacturing
and pharmaceutical development services for branded and generic
prescription drugs to the pharmaceutical industry globally as well
as a provider of active pharmaceutical ingredients to large
biopharmas and crop protection and other chemical industries.



DUNE ENERGY: $10M Loan From Montreal Bank Has Interim Approval
--------------------------------------------------------------
Tom Corrigan, writing for MarketWatch, reports that U.S. Bankruptcy
Judge H. Christopher Mott has signed an interim order allowing the
Dune Energy, Inc., to draw down up to $3 million of a $10 million
loan from a group of lenders led by Bank of Montreal.  The Court
has set a final hearing on the loan for April 2, 2015, the report
says.

The senior lenders are requiring that the Company put itself up for
auction, MarketWatch relates.

According to MarketWatch, the Court allowed the Company to kick off
a marketing and sale process.  Citing Charles Beckham, the attorney
for the Company, MarketWatch states that the Company, under the
proposed bidding procedures weren't brought before the Court, will
pursue a "fairly swift sale process."  The report adds that the
Company will hold an auction June 9, 2015, with a sale hearing to
follow shortly after.

MarketWatch says that the Court signed off on March 10, 2015, a
series of first-day motions that will ease the Company's transition
into bankruptcy protection, allowing it to pay workers, access its
bank account and otherwise continue normal operations.

                        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.

Affiliates Dune Energy, Inc. (Bankr. W.D. Tex. Case No. 15-10336),
Dune Operating Company (Bankr. W.D. Tex. Case No. 15-10337), and
Dune Properties, Inc. (Bankr. W.D. Tex. Case No. 15-10338) filed
separate Chapter 11 bankruptcy petitions on March 8, 2015.  The
petitions were signed by James A. Watt, president and chief
executive officer.

Judge Christopher H. Mott presides over the case.  Charles A.
Beckham, Jr., Esq., Kourtney P. Lyda, Esq., and Kelli M.
Stephenson, Esq., at Haynes And Boone, LLP, serve as the Debtors'
bankruptcy counsel.  Deloitte Transactions And Business Analytics
LLP is the Debtors' restructuring advisors.  Parkman Whaling LLC is
the Debtors' sale professionals.

The Debtors listed $229.4 million in total assets and $144.2
million in total debts as of Sept. 30, 2014.

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.


DUTCH GOLD: Judge OKs Trustee's Report of No Distribution
---------------------------------------------------------
On March 9, 2015, Dutch Gold Resources, Inc. received an "Order
Approving Trustee's Report of no Distribution, Discharging Trustee
and Closing Estate" relative to the petition for its subsidiary
Dutch Mining, LLC (Bankr. N.D. Ga. Case No. 14-61474) under Chapter
7 of Title 11 of the U.S. Bankruptcy Code.

                          About Dutch Gold

Based in Atlanta, Ga., Dutch Gold Resources, Inc. (OTC: DGRI)
-- http://www.dutchgoldresources.com/-- is a junior gold miner
focused on developing its existing mining properties in North
America and acquiring and developing new mines that can enter into
production in 12 to 24 months.

After auditing the 2011 results, Hancock Askew & Co., LLP, in
Norcross, Georgia, noted that the Company has limited liquidity
and has incurred recurring losses from operations and other
conditions exist which raise substantial doubt about the Company's
ability to continue as a going concern.

The Company reported a net loss of $4.58 million on $0 of sales in
2011, compared with a net loss of $3.69 million on $0 of revenue
in 2010.  The Company's balance sheet at Sept. 30, 2012, showed
$2.65 million in total assets, $7.17 million in total liabilities
and a $2.23 million total stockholders' deficit.


EMERALD INVESTMENTS: Bid for Case Dismissal and Stay Relief Denied
------------------------------------------------------------------
The Bankruptcy Court denied without prejudice the motion of movants
Kriti Ripley, LLC and Ashley River Properties II, LLC, to:

   a) dismiss the Chapter 11 case of Emerald Investments, LLC, et
al.; or alternatively

   b) grant the movants relief from the automatic stay pursuant to
Section 362(d) of the Bankruptcy Code, to proceed with the
foreclosure sale of the Debtor's limited liability company
membership interest in ARPII.

Judgment creditors Kriti and Ashley River II, said that Emerald has
failed to provide the Court with a copy of the supposed
inter-debtor agreement with Ashley River Consulting, LLC, that
allegedly is the basis for the Debtor's ability to pay all of its
creditors and reorganize (after refusing to pay any of its
creditors for years).

One of the Debtor's unsecured creditors, Schulte Roth & Zabel LLP,
objected to the motion, stating that the request must be denied
because the relief was predicated entirely on the premise that the
Debtor has no realistic hope of any reorganization.  Schulte Roth
said that:

   1. dismissal is unwarranted; and

   2. movants have not shown cause to lift the stay.

The Debtor also objects to the motion, stating that the movants'
motion represented nothing more than an opportunistic attempt by
the parties to obtain ownership of estate assets consisting of a
waterside condominium development and marina worth in excess of $30
million (and potentially much more) in exchange for the
satisfaction of a judgment lien in an amount that is a fraction of
the value of the property.

Kriti and Ashley River II are represented by:

         Edward P. Zujkowski, Esq.
         Thomas A. Pitta, Esq.
         EMMET, MARVIN & MARTIN, LLP
         120 Broadway, 32nd Floor
         New York, NY 10271
         Tel: (212) 238-3000
         Fax: (212) 238-3100

                     About Emerald Investments

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

The case is assigned to Judge Martin Glenn.

Norwalk, Connecticut-based Emerald Investments estimated $10
million to $50 million in assets and less than $10 million in debt.
The Debtor, in an amended schedules, disclosed unknown assets and
$3,981,162 in liabilities.

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



EXIDE TECHNOLOGIES: To Close Vernon, California Facility
--------------------------------------------------------
Exide Technologies will immediately move to permanently close its
lead-acid battery recycling facility in Vernon, California under
the terms of a non-prosecution agreement reached with the United
States Attorney's Office for the Central District of California
that resolves the USAO's criminal investigation into Exide.

In conjunction with the closure of the Vernon Facility, Exide also
has entered into an amendment to the 2014 stipulation and order
with the California Department of Toxic Substances Control that
provides a framework for the orderly closure and cleanup of the
Vernon Facility.  Exide reached this amendment after, among other
developments, hearing from the Department that it would likely deny
Exide's Part B hazardous waste facility permit application.

Exide is requesting that the Bankruptcy Court approve the
agreements as well as authorize the Company to close the Vernon
Facility at a hearing scheduled for March 27, 2015, at which the
Company also will seek confirmation of its Chapter 11 Plan of
Reorganization.

"The agreements with the USAO and the Department should allow us to
resolve key conditions to funding of the backstop commitment
agreement, and to continue to pursue plan confirmation," said
Robert M. Caruso, President and Chief Executive Officer of Exide
Technologies.  "We recognize the impacts that closing the Vernon
Facility will have on our approximately 130 employees and their
families.  On behalf of the Company, I thank them and the United
Steel Workers Union for their commitment and dedication."

By obtaining plan confirmation and emerging from Chapter 11, Exide
expects to be able to meet its closure and cleanup obligations
under these agreements, continue to honor its environmental
obligations at its other facilities, and preserve nearly 10,000
jobs globally.

Additional details can be found in the Company's Current Report on
Form 8-K, to be filed at http://ir.exide.com/sec.cfm. Bankruptcy
Court filings, including the motions, are available at
http://www.exiderestructures.com. Interested parties may direct
questions about Exide's bankruptcy using these toll-free numbers:
888.985.9831 for U.S. suppliers or 855.291.0287 for all other
groups.

                    About Exide Technologies

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

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

LLP represented the Debtors in their successful restructuring.

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

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

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

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

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

                            *     *     *

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

Exide already has a plan of reorganization in place.  Reorganized
Exide's debt at emergence will comprise: (i) an estimated $225
million Exit ABL Revolver Facility; (ii) $264 million of New First
Lien High Yield Notes; (iii) $284 million of New Second Lien
Convertible Notes.  The Debtor's non-debtor European subsidiaries
are also expected to have approximately $23 million; (b) The New
Second Lien Convertible Notes will be convertible into 80% of the
New Exide Common Stock on a fully diluted basis; and (c) New Exide
Common Stock would be allocated as follows: 15.0% to Holders of
Senior Secured Note Claims after conversion of the New Second Lien
Convertible Notes into New Exide Common Stock; 3.0% on account of
the DIP/Second Lien Conversion Funding Fee; and 2.0% on account of
the DIP/Second Lien Backstop Commitment Fee.  A full-text copy of
the Disclosure Statement dated Nov. 17, 2014, is available at
http://bankrupt.com/misc/EXIDEds1117.pdf

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


EXIDE TECHNOLOGIES: To Permanently Close Vernon Facility
--------------------------------------------------------
Exide Technologies on March 12 disclosed that the Company will
immediately move to permanently close its lead-acid battery
recycling facility in Vernon, California under the terms of a
non-prosecution agreement reached with the United States Attorney's
Office for the Central District of California that resolves the
USAO's criminal investigation into Exide.

In conjunction with the closure of the Vernon Facility, Exide also
has entered into an amendment to the 2014 stipulation and order
with the California Department of Toxic Substances Control that
provides a framework for the orderly closure and cleanup of the
Vernon Facility.  Exide reached this amendment after, among other
developments, hearing from the Department that it would likely deny
Exide's Part B hazardous waste facility permit application.

Exide is requesting that the Bankruptcy Court approve the
agreements as well as authorize the Company to close the Vernon
Facility at a hearing scheduled for March 27, 2015, at which the
Company also will seek confirmation of its Chapter 11 Plan of
Reorganization.

"The agreements with the USAO and the Department should allow us to
resolve key conditions to funding of the backstop commitment
agreement, and to continue to pursue plan confirmation," said
Robert M. Caruso, President and Chief Executive Officer of Exide
Technologies.  "We recognize the impacts that closing the Vernon
Facility will have on our approximately 130 employees and their
families.  On behalf of the Company, I thank them and the United
Steel Workers Union for their commitment and dedication."

By obtaining plan confirmation and emerging from Chapter 11, Exide
expects to be able to meet its closure and cleanup obligations
under these agreements, continue to honor its environmental
obligations at its other facilities, and preserve nearly 10,000
jobs globally.

Additional details can be found in the Company's Current Report on
Form 8-K, to be filed at http://ir.exide.com/sec.cfm.Bankruptcy   
Court filings, including the Motions, are available at
http://www.exiderestructures.com

Interested parties may direct questions about Exide's bankruptcy
using the following toll-free numbers: 888.985.9831 for U.S.
suppliers or 855.291.0287 for all other groups.

                    About Exide Technologies

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

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

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

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

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

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

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

                            *     *     *

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

Exide already has a plan of reorganization in place.  Reorganized
Exide's debt at emergence will comprise: (i) an estimated $225
million Exit ABL Revolver Facility; (ii) $264 million of New First
Lien High Yield Notes; (iii) $284 million of New Second Lien
Convertible Notes.  The Debtor's non-debtor European subsidiaries
are also expected to have approximately $23 million; (b) The New
Second Lien Convertible Notes will be convertible into 80% of the
New Exide Common Stock on a fully diluted basis; and (c) New Exide
Common Stock would be allocated as follows: 15.0% to Holders of
Senior Secured Note Claims after conversion of the New Second Lien
Convertible Notes into New Exide Common Stock; 3.0% on account of
the DIP/Second Lien Conversion Funding Fee; and 2.0% on account of
the DIP/Second Lien Backstop Commitment Fee.  A full-text copy of
the Disclosure Statement dated Nov. 17, 2014, is available at
http://bankrupt.com/misc/EXIDEds1117.pdf   

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


FINJAN HOLDINGS: Incurs $10.5 Million Net Loss in 2014
------------------------------------------------------
Finjan Holdings, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$10.47 million on $4.99 million of revenues for the year ended Dec.
31, 2014, compared to a net loss of $6.07 million on $0 of revenues
in 2013.

As of Dec. 31, 2014, Finjan had $20.69 million in total assets,
$2.57 million in total liabilities, and $18.1 million in total
stockholders' equity.

As of Dec. 31, 2014, the Company had $17.5 million of cash and cash
equivalents and $17.1 million of working capital.  The decrease in
the Company's cash and cash equivalents of $7.1 million from $24.6
million is primarily attributable to $10.8 million used in
operations and $0.5 million capital call from the venture capital
fund the company invests in offset by $3 million received from a
license agreement and $0.7 million from the sale of Converted
Organics.

Based on current forecasts and assumptions, management believes
that the Company's cash and cash equivalents will be sufficient to
meet the Company's anticipated cash needs for working capital and
capital expenditures for at least the next 12 months.

"We may, however, encounter unforeseen difficulties that may
deplete our capital resources more rapidly than anticipated.  Even
without such difficulties, we may seek to raise additional capital
to grow our business.  Any efforts to seek additional funding could
be made through issuances of equity or debt, or other external
financing.  However, additional funding may not be available on
favorable terms, or at all," the Company states in the Report.

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

                        http://is.gd/uOIl86

                           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.


FORTESCUE METALS: Bank Debt Trades at 8% Off
--------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 92.08
cents-on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.63 percentage points from the previous week, The Journal relates.
The Company pays 325 basis points above LIBOR to borrow under the
facility.  The bank loan matures on June 13, 2019, and carries
Moody's Baa3 rating and Standard & Poor's BBB 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 226 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



FR DIXIE ACQUISITION: S&P Lowers CCR to 'B' on Elevated Leverage
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Odessa, Texas-based electrical infrastructure contractor
FR Dixie Acquisition Corp. to 'B' from 'B+'.  The rating outlook is
stable.

At the same time, S&P lowered the issue-level ratings on the
company's $40 million revolving credit facility due 2018 and $280
million term loan B due 2020 to 'B' from 'B+'.  The recovery rating
on the credit facility remains '3', indicating S&P's expectation
for meaningful (50%-70%; upper half of the range) recovery in the
event of payment default.

"The downgrade reflects our view that low oil prices have hurt
Dixie's operating performance relative to our previous
expectations," said Standard & Poor's credit analyst Robyn Shapiro.
"While we had previously expected debt to EBITDA of 4x to 4.5x,
Dixie's adjusted debt leverage will be 5x or higher this year."

Compared with peers, Dixie's smaller scale and narrower scope make
the company more susceptible to changes in business conditions than
S&P previously thought.  However, Standard & Poor's expects Dixie's
cost flexibility and good cash flow generation will continue to
provide sufficient liquidity for the company.

The stable rating outlook on Dixie reflects S&P's expectation that
leverage will remain elevated--marginally above 5x over the next 12
months--but that the company will generate positive free operating
cash flow, based on its ability to reduce costs.



FRAC TECH: Bank Debt Trades at 20% Off
--------------------------------------
Participations in a syndicated loan under which Frac Tech Services
Ltd is a borrower traded in the secondary market at 80.92 cents-
on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.92 percentage points from the previous week, The Journal
relates.  Frac Tech pays 475 basis points above LIBOR to borrow
under the facility.  The bank loan matures on April 3, 2021, and
carries Moody's B2 rating and Standard & Poor's B rating.  The loan
is one of the biggest gainers and losers among 226 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



FULLBEAUTY BRANDS: Moody's Affirms B2 Corp. Family Rating
---------------------------------------------------------
Moody's Investors Service affirmed FULLBEAUTY Brands, Inc.'s B2
Corporate Family Rating and B1 instrument rating on its First Lien
Term Loan due 2021 after the company announced a proposed $160
million add-on to the facility.  The outlook remains stable.
Proceeds of the add-on, including a $20 million add-on to the
company's unrated second lien term loan, and approximately $40
million of balance sheet cash will be used to fund a $215 million
dividend to the company's shareholders and pay transaction fees.

After accounting for the proposed dividend, the company will have
distributed approximately $500 million in dividends to shareholders
since the buyout by Charlesbank Capital Partners, Webster Capital,
and certain management investors in February 2013.  The dividend
payments represent greater than 3.5 times the initial equity
investment.  However, due to strong operating performance over the
same period, Moody's estimates adjusted pro-forma leverage through
Sep. 30, 2014 will be around 6x and should drop to the mid-to-low
5x range by the end of 2015, driven by additional top line and
EBITDA growth.

Issuer: FULLBEAUTY Brands, Inc.

  -- Corporate Family Rating, Affirmed B2

  -- Probability of Default Rating, Affirmed B2-PD

  -- $625 million 1st Lien Term Loan due 2021 (includes $160
million
     add-on), Affirmed B1, LGD-3

  -- Outlook, Remains Stable

FULLBEAUTY's B2 CFR reflects the company's highly aggressive
financial policies which have resulted in leverage sustained at
elevated levels despite meaningful improvements in operating
performance since the company's buyout.  The proposed $215 million
dividend will be the third (largely) debt financed dividend in less
than 2 years and will result in Moody's adjusted pro-forma leverage
through Sep. 30, 2014 of around 6x.  The rating also reflects the
company's niche focus on the direct-to-consumer plus size apparel
market and modest revenue scale in the retail and apparel industry.
The company's rating is supported by favorable demographic trends
due the increasing number of overweight and obese people in the
U.S., the breadth of its product offering relative to many
competitors, and its good liquidity profile.  The rating is also
supported by strong operating performance over the last two years
and Moody's expectation for continued revenue and EBITDA growth
over the next 12-18 months which should result in leverage
declining to the mid-to-low 5x range.

Moody's expects FULLBEAUTY will maintain good liquidity over the
next 12-18 months driven by positive cash flow and availability
under its $60 million ABL revolver due 2019 (not rated by Moody's)
that should be more than sufficient to cover seasonal working
capital needs and modest debt amortization of about $6.3 million
annually. The use of $40 million of balance sheet cash to fund the
proposed dividend will likely result in near-term borrowings on the
revolver to fund working capital, however Moody's expect any
drawdown on the facility will likely be paid down by the end of the
second quarter with cash generated from operations.  The company
will also see elevated levels of capital spend beginning in the
second quarter of 2015 associated with FullBeauty's corporate
headquarters relocation, but capex should normalize by year end.

The first and second lien term loans do not contain any financial
maintenance covenants, but the ABL has a springing Fixed Charge
Coverage test of 1.0x which only occurs when availability is less
than the greater of $5 million and 10% of the borrowing base.
Moody's does not expect the company will trigger the covenant over
the next 12-18 months, but anticipate they would have sufficient
cushion if it were tested.

The B1 rating assigned to FULLBEAUTY's first lien term loan is one
notch higher than the company's CFR and reflects its senior
position in the capital structure relative to the unrated $165
million second lien term loan (after accounting for the proposed
$20 million add-on) and other junior claims including trade
payables and leases.  The first lien is secured by a first priority
lien on substantially all assets of the company, with a second lien
on the ABL priority collateral including accounts receivable,
inventory and cash.  The second lien is secured by second priority
lien on substantially all assets of the company with a third lien
on the ABL collateral.

The stable rating outlook reflects Moody's expectation for
continued steady revenue and earnings growth and positive free cash
flow generation that will allow for deleveraging to the mid-to-low
5.0 times range.  It also reflects our expectation that financial
policies or operating performance will not lead to further
deterioration in credit metrics.

Ratings could be downgraded if revenue or earnings were to
deteriorate, competitive pressure increase, or financial policies
become more aggressive.  Specific metrics include debt/EBITDA
exceeding 6.5 times or EBITA/interest below 1.5 times.  A
deterioration in liquidity may also result in a negative rating
action.

Ratings could be upgraded if the company were to demonstrate the
willingness and ability to achieve and maintain debt/EBITDA below
5.0 times and EBITA/interest expense above 2.5 times, through a
combination of profitable growth, positive free cash flow and the
use of excess cash to pay down debt.  A higher rating would also
require the maintenance of good liquidity.

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


FULLBEAUTY BRANDS: S&P Affirms 'B' CCR; Outlook Stable
------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on New York-based FULLBEAUTY Brands Inc. (FBB).  The
outlook is stable.

The new debt issue consists of $160 million add-on to its existing
first-lien term loan due 2021 and a $20 million add-on to the
existing second-lien term loan due 2021.

S&P affirmed its 'B' issue-level rating and '3' recovery rating to
FBB's proposed $160 million add-on to its existing first-lien term
loan due 2021.  The '3' recovery rating indicates S&P's expectation
for meaningful recovery (lower end of the 50%-70% range) in a
payment default scenario.

S&P also affirming its 'CCC+' issue-level rating and '6' recovery
rating to the companies' proposed $20 million add-on to existing
its second-lien term loan due 2021.  The '6' recovery rating
indicates S&P's expectation for negligible recovery (0%-10%) in a
payment default scenario.

"The affirmation reflects our expectation that FULLBEAUTY Brands
will maintain its credit metrics at or close to current levels.
Following the proposed debt issuance, funds from operations (FFO)
to debt is about 10% and debt to EBITDA will be in the 5.0x to 5.5x
range, both metrics are acceptable for the current ratings," said
credit analyst Anita Ogbara.

The stable outlook on FBB reflects S&P's expectation that credit
protection measures will remain in line with current levels over
the next 12 months as further performance gains will be offset with
incremental debt.  S&P expects FBB will continue to leverage sales
and generate EBITDA gains, which will be offset by additional
debt-financed dividends.

S&P could lower our ratings if operating performance weakens,
leading to gross margin erosion of approximately 100 basis points
(bps) below its expectations and flat sales growth.  Under this
scenario, leverage would increase to about 6x.  S&P could also
lower the ratings if the company's financial policies become more
aggressive, such as through another debt-financed dividend to its
sponsors that would increase leverage to a similar level.

S&P could raise the rating if sales increase in the high-single
digits and gross margin increases about 100 bps in the next 12
months.  This scenario could arise from an enhanced merchandise
offering that leads to an increase in sales ahead of S&P's
projections.  This would also allow the company to better leverage
its technology infrastructure, resulting in total debt to EBITDA in
the low-4x area.  An upgrade would also be predicated on S&P's view
that financial policies have moderated and credit protection
measures would be sustainable at those levels.  However, S&P
believes this scenario is unlikely, given the company's financial
sponsor ownership.



GELTECH SOLUTIONS: Seeks to Remove AMM's Form 3 Filing with SEC
---------------------------------------------------------------
Auer Metals & Mineral filed a Form 3 Initial Statement of
Beneficial Ownership with the Securities and Exchange Commission
purporting to own a large stake of ownership of GelTech Solutions,
Inc.  The Company said it is currently investigating this matter
and will be seeking to have this Form 3 removed from the EDGAR
system, as the Company is certain that the filing was made entirely
without basis.  The Company has already been in contact with the
SEC regarding AMM's previous attempt to improperly obtain the
Company's EDGAR passcodes.  

                           About GelTech
        
Jupiter, Fla.-based GelTech Solutions. Inc., is a Delaware
corporation organized in 2006.  The Company markets four products:
(1) FireIce(R), a water soluble fire retardant used to protect
firefighters, structures and wildlands; (2) Soil2O(R) 'Dust
Control', its new application which is used for dust mitigation in
the aggregate, road construction, mining, as well as, other
industries that deal with daily dust control issues; (3)
Soil2O(R), a product which reduces the use of water and is
primarily marketed to golf courses, commercial landscapers and the
agriculture market; and (4) FireIce(R) Home Defense Unit, a system
for applying FireIce(R) to structures to protect them from
wildfires.

The Company reported a net loss of $950,000 on $111,000 of sales
for the three months ended Sept. 30, 2014, compared with a net
loss of $1.91 million on $530,800 of sales for the same period last
year.

The Company's balance sheet at Dec. 31, 2014, showed $1.5 million
in total assets, $2.81 million in total liabilities, and a total
stockholders' deficit of $1.31 million.


GENERAL MOTORS: Settles Case That Triggered Ignition-Switch Recall
------------------------------------------------------------------
Jeff Bennett and Mike Spector, writing for The Wall Street Journal,
reported that the family of a Georgia woman whose death helped set
off a recall crisis at General Motors Co. over defective ignition
switches accepted payment from the auto maker’s compensation
fund, ending a lawsuit.

According to the report, attorneys representing the parents of
Brooke Melton said on March 13 that they reached an out-of-court,
confidential settlement over claims that included the Detroit auto
maker withheld information during a prior lawsuit.  A GM spokesman
confirmed the Melton suit was resolved but declined to comment
further, the Journal said.

                      About General Motors

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

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

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

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

                        *     *     *

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

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

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


GETTY IMAGES: Bank Debt Trades at 17% Off
-----------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 83.20
cents-on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
2.13 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 226
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.



GILES-JORDAN: Hires LMI Group as Real Estate Broker
---------------------------------------------------
Giles-Jordan, Inc. seeks permission from the Hon. Letitia Z. Paul
of the U.S. Bankruptcy Court for the Southern District of Texas to
employ George Liberato of LMI Group, LLC as real estate broker.

The professional services to be rendered by Broker include, but
shall not be limited to, marketing of the Debtor's property.  The
Debtor owns approximately 39.16 acres of land located on the east
end of Galveston Island in Galveston County, Texas,

Compensation will be payable to Broker as set forth in Local
Bankruptcy Rule 2016(a).

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

LMI Group can be reached at:

       George Liberato
       LMI GROUP, LLC
       P.O. Box 2973
       League City, TX 77574
       Tel: (409) 539-8993

                      About Giles-Jordan, Inc.

Giles-Jordan, Inc., filed a Chapter 11 bankruptcy petition in its
hometown in Galveston, Texas (Bankr. S.D. Tex. Case No. 14-80173)
on May 5, 2014.  The Debtor disclosed $12 million in total assets
and $4.81 million in liabilities, including $3.72 million of
secured debt.  Its lone asset is a 39.16-acre property at 230 East
Beach Drive, in Galveston, Texas.  Galveston Shores, LP, of
Carlsbad, California, is the holder of the secured debt.

The case is assigned to Judge Letitia Z. Paul.  The Debtor is
represented by Jeffrey Wells Oppel, Esq., at Oppel & Goldberg,
PLLC, in Houston, Texas.


GOLD RIVER: Taps Levene Neale Bender as General Bankruptcy Counsel
------------------------------------------------------------------
Gold River Valley, LLC, asks the Bankruptcy Court for permission to
employ Levene, Neale, Bender, Yoo & Brill L.L.P., as general
bankruptcy counsel, effective as of Jan. 16, 2015.

The primary attorneys at LNBYB responsible for the representation
of the Debtor and their hourly rates are:

         David B. Golubchik              $595
         Jeffrey Kwong                   $295

The Debtor agreed to pay LNBYB a $50,000 retainer in connection
with representing the Debtor.  The $50,000 paid to LNBYB consists
of surplus funds from the Atherton Financial Building, LLC
bankruptcy case, which belong to equity of Atherton and were paid
to LNBYB prepetition.

Although there is an equity dispute over Atherton between Lucy Gao
and Benjamin Kirk, both parties have consented to the disbursement
of $50,000 to fund the Debtor's retainer in the bankruptcy case,
and the Bankruptcy Court presiding over Atherton's case entered an
order approving such transfer.  Moreover, based on discussions and
disclosures, the Debtor understands that LNBYB is acting as counsel
for the Debtor only and no other parties associated with the
Debtor's case.

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

                   About Gold River Valley

Gold River Valley, LLC, sought Chapter 11 bankruptcy protection
(Bankr. C.D. Cal. Case No. 15-10691) in Los Angeles, on Jan. 16,
2015.  The case is assigned to Judge Vincent P. Zurzolo.

The Debtor estimated $10 million to $50 million in assets and $1
million to $10 million in debt.  The Debtor disclosed 12,000,000 in
assets and $8,720,911 in liabilities as of the Chapter 11 filing.

No committee of unsecured creditors has been formed, and no trustee
has been appointed.


GOODRICH PETROLEUM: Moody's Lowers Corporate Family Rating to Caa1
------------------------------------------------------------------
Moody's Investors Service downgraded Goodrich Petroleum
Corporation's Corporate Family Rating (CFR) to Caa1 from B3 and the
Probability of Default Rating to Caa1-PD from B3-PD.  Moody's also
downgraded ratings on Goodrich's senior unsecured notes and
preferred stock to Caa2 and Caa3 from Caa1 and Caa2, respectively.
Moody's affirmed Goodrich's SGL-3 Speculative Grade Liquidity
Rating reflecting the company's increased liquidity following the
issuance of second lien notes and common stock.  Proceeds from
these offerings totaled roughly $150 million and are expected to be
used to partially repay revolver borrowings and to fund capex.  The
ratings outlook was changed to negative from stable.

"While the capital market issuances and the recent revolver
amendments improve liquidity, low commodity prices continue to be
extremely challenging and the additional secured debt has further
subordinated its unsecured debt and increased leverage," said
Arvinder Saluja, Moody's Vice President.  "Goodrich plans to focus
on its Tuscaloosa Marine Shale (TMS) acreage, and will be reliant
on maintaining well cost reductions in order to conserve liquidity
through 2016 in absence of any meaningful uptrend in commodity
prices."

Downgrades:

Issuer: Goodrich Petroleum Corporation

  -- Corporate Family Rating (Local Currency), Downgraded to Caa1
     from B3

  -- Probability of Default Rating, Downgraded to Caa1-PD from
     B3-PD

  -- Pref. Stock Preferred Stock (Local Currency), Downgraded to
     Caa3, LGD6 from Caa2, LGD6

  -- Senior Unsecured Regular Bond/Debenture (Local Currency) due
     2019, Downgraded to Caa2,LGD4 from Caa1,LGD4

Affirmations:

Issuer: Goodrich Petroleum Corporation

  -- Speculative Grade Liquidity Rating, Affirmed SGL-3

Outlook Actions:

Issuer: Goodrich Petroleum Corporation

  -- Outlook, Changed to Negative from Stable

RATINGS RATIONALE

Goodrich's Caa1 CFR reflects its modest production scale,
increasing financial leverage and interest expense, early stage
operations in its oilier acreage in the TMS and Eagle Ford, and
expectation of negative free cash flow even with a reduced capex
program.  The weak leveraged-full cycle ratio (LFCR), which
captures the efficiency of the reinvested capital, restrains the
rating.  However, the CFR also recognizes that Goodrich has roughly
70% of its 2015 oil volumes hedged, and is able to realize LLS
based pricing which is currently at a premium to WTI.  The rating
is also supported by increased revolver availability following the
capital market issuances.

The senior unsecured notes are rated Caa2, one notch below
Goodrich's Caa1 CFR, reflecting their effective subordination to
the senior secured revolver and the second lien secured notes under
Moody's Loss Given Default Methodology.  The Caa3 preferred stock
rating reflects the size of both the secured debt's and senior
unsecured notes' priority claims relative to the preferred stock
results in the preferred stock being rated two notches beneath the
Caa1 CFR.

Goodrich's SGL-3 Speculative Grade Liquidity Rating reflects our
expectation of adequate liquidity through at least the first
quarter of 2016.  Goodrich completed a $50 million equity issuance
in March 2015 following the $100 million second lien notes issuance
in February 2015.  Subsequently, the borrowing base under its
credit facility, which matures in February 2017, was reduced to
$150 million.  However, the company eliminated the total debt to
EBITDA covenant under its credit agreement governing the revolver
and replaced it with a maximum secured debt to EBITDA covenant of
no more than 2.5x.  Other financial covenants are a current ratio
of at least 1.0x and EBITDAX / cash interest of at least 2.0x.
Moody's expects that the company will remain within compliance with
these covenants even though the cushion may decrease over time, and
maintain availability under the revolver in the $75-$100 million
range through 2015.  With the majority of Goodrich's assets pledged
as security under the credit facility, the company's ability to
raise additional liquidity through asset sales and joint ventures
may be limited.

Ratings could be downgraded should liquidity fall below $75
million, should interest coverage deteriorate below 2.5x, or if the
company faces operational issues or cost increases in TMS. Moody's
could upgrade Goodrich's ratings if average daily production
reaches 13 mboe/day, LFCR improves meaningfully and RCF to debt
improves over 20%.

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.

Goodrich Petroleum Corporation's is an independent exploration and
production company headquartered in Houston, Texas.


GWWS REAL ESTATE: Case Summary & 8 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: GWWS Real Estate, LLC
        5142 S. Madison Avenue, Suite 2
        Indianapolis, IN 46227

Case No.: 15-01831

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: March 12, 2015

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Hon. Jeffrey J. Graham

Debtor's Counsel: Jeffrey M. Hester, Esq.
                  TUCKER HESTER BAKER & KREBS, LLC
                  One Indiana Square, Suite 1600
                  Indianapolis, IN 46204-1816
                  Tel: 317-833-3030
                  Fax: 317-833-3031
                  Email: jhester@thbklaw.com

                    - and -

                  William J. Tucker, Esq.
                  TUCKER HESTER BAKER & KREBS, LLC
                  Regions Tower, Suite 1600
                  One Indiana Square
                  Indianapolis, IN 46204
                  Tel: 317-833-3030
                  Fax: 317-833-3031
                  Email: wtucker@thbklaw.com

Total Assets: $1.13 million

Total Liabilities: $702,131

The petition was signed by Steven Waugh, member.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/insb15-01831.pdf


GYMBOREE CORP: Bank Debt Trades at 28% Off
------------------------------------------
Participations in a syndicated loan under which Gymboree Corp is a
borrower traded in the secondary market at 72.35 cents-on-the-
dollar during the week ended Friday, March 13, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.50
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 B2 and Standard & Poor's B- rating.  The loan is
one of the biggest gainers and losers among 226 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



H S MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: H S Management Group, LLC
        PO Box 221
        Barrington, RI 02806-0221

Case No.: 15-10448

Chapter 11 Petition Date: March 12, 2015

Court: United States Bankruptcy Court
       District of Rhode Island (Providence)

Judge: Hon. Diane Finkle

Debtor's Counsel: Thomas P. Quinn, Esq.
                  MCLAUGHLIN & QUINN, LLC
                  148 West River Street, Suite 1E
                  Providence, RI 02904
                  Tel: (401) 421-5115
                  Fax: (401) 421-5141
                  Email: tquinn@mclaughlinquinn.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Cary L. White, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/rib15-10448.pdf


HC GROUP: S&P Assigns 'B' CCR & Rates 1st Lien Secured Debt 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to HC Group Holdings III Inc. (d/b/a Walgreens
Infusion Services) (WIS).  The outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the company's proposed first-lien senior secured
credit facility, which consists of an $80 million revolver and $415
million term loan.  The '3' recovery rating indicates S&P's
expectation for meaningful recovery, (50% to 70%, at the higher end
of the range) to first-lien lenders in the event of payment
default.

S&P is also assigning a 'CCC+' rating and '6' recovery rating to
the company's $150 million second-lien floating rate notes,
indicating S&P's expectations for negligible recovery (0% to 10%)
in the event of default.

S&P's ratings on WIS reflect S&P's assessment of the business risk
profile as "weak" and the financial risk profile as "highly
leveraged".

"The company's business risk is characterized by its narrow
business focus on home-based infusion services, thin margins, and
potential reimbursement pressure from third-party payors," said
Standard & Poor's credit analyst David A. Kaplan.  The business
risk also incorporates the company's leading national market
position and a diverse mix of payors and therapies.  Other leading
national providers of home-based infusion services in the otherwise
highly fragmented home-based infusion services market are BioScrip
Inc. and CVS/Coram.

The company's two therapy segments are specialty (branded drug
treatment for chronic conditions) and core (generic drug treatment
for infection and nutrition).  Branded therapies yield lower
margins due to the high cost of the drug, but higher dollar profits
per visit and represent nearly 60% of the company's total revenues.
The company has a favorable and well-diversified payor mix; with
about 20% of revenues generated from Medicare and Medicaid and
about 80% generated from commercial payors (of which 20% is derived
from the lower-paying Managed Medicare/Medicaid).

A strength to its business risk is the company's strong
relationships with managed care organizations and pharmaceutical
and device manufacturers, helped by the relationships developed
under its now minority owner Walgreens Boots Alliance.  S&P
believes the direct purchasing discounts on pharmaceuticals from
the association with Walgreens are modest, and loss of that
relationship would not have a material effect on the company, if
for example Walgreens sells its minority equity stake in this
business.

The stable outlook reflects S&P's expectation for high-single-digit
organic revenue growth complemented by growth through acquisitions.
S&P expects leverage will remain above 5x over the next year.

S&P could lower its rating if the company is unable to meet its
base-case scenario of generating free cash flow on a sustained
basis.  This could occur if the company cannot effectively manage
its cost structure as a stand-alone entity or if the industry faces
increased reimbursement pressures from third-party payors. S&P
expects free cash flow would be eliminated if EBITDA margins
decline by about 250 basis points.

S&P believes an upgrade is unlikely given the company's high debt
leverage and S&P's expectation that the private equity sponsors
will seek to maintain leverage above 5x, as the company pursues
growth through acquisitions.



HD SUPPLY: Appoints Joseph DeAngelo as Board Chairman
-----------------------------------------------------
The independent directors of the Board of Directors of HD Supply
Holdings, Inc., and HD Supply, Inc., appointed Joseph J. DeAngelo
as Chairman of the Board, president and chief executive officer,
and James G. Berges as independent lead director of the Board,
according to a document filed with the Securities and Exchange
Commission.

                          About HD Supply

HD Supply, Inc., headquartered in Atlanta, Georgia, is one of the
largest North American wholesale distributors supporting
residential and non-residential construction and to a lesser
extent electrical consumption and repair and remodeling.  HDS also
provides maintenance, repair and operations services.  Its
businesses are organized around three segments: Infrastructure and
Energy; Maintenance, Repair & Improvement; and, Specialty
Construction.  HDS operates through approximately 800 locations
throughout the U.S. and Canada serving contractors, government
entities, maintenance professionals, home builders and
professional businesses.

HD Supply reported a net loss of $218 million for the fiscal year
ended Feb. 2, 2014, a net loss of $1.17 billion for the fiscal
year ended Feb. 3, 2013, and a net loss of $543 million for the
year ended Jan. 29, 2012.

As of Nov. 2, 2014, the Company had $6.52 billion in total assets,
$7.18 billion in total liabilities, and a $657 million
stockholders'
deficit.

                           *     *     *

As reported by the TCR on Jan. 11, 2013, Moody's Investors Service
upgraded HD Supply's corporate family rating to 'B3' from 'Caa1'.
"This rating action results from our expectations that HDS will
refinance a significant portion of its senior subordinated notes
due 2015, effectively extending the remainder of its maturities by
at least two years to 2017," Moody's said.

HD Supply carries a 'B' corporate credit rating, with negative
outlook, from Standard & Poor's Ratings Services.


HEALTHWAREHOUSE.COM: Melrose Extends Note Maturity to Sept. 1
-------------------------------------------------------------
Healthwarehouse.com and Melrose Capital Advisors, LLC, entered into
an amended and restated promissory note, effective March 1, 2015,
pursuant to which Melrose Capital agreed to extend the maturity
date of the Senior Note from March 1, 2015, to Sept. 1, 2015,
according to a document filed with the Securities and Exchange
Commission.  

As part of the extension, financial covenants were set which
require the Company to meet certain minimum targets for EBITDAS for
the calendar quarters ending on March 31 and June 30, 2015.  In
consideration of the Lender extending the maturity date of the
Senior Note, the Company granted the Lender a five-year warrant to
purchase 500,000 shares of common stock of the Company at an
exercise price of $0.10 per share.  The Warrant contains customary
anti-dilution provisions.

Healthwarehouse.com is a party to a loan and security agreement
with Melrose Capital Advisors, LLC, under which the Company
borrowed an aggregate of $750,000 from the Lender, including
$150,000 and $600,000 during the years ended Dec. 31, 2014, and
2013, respectively.  The Loan is evidenced by a promissory note in
the face amount of $750,000, as amended.  The Senior Note bears
interest on the unpaid principal balance until the full amount of
principal has been paid at a floating rate equal to the prime rate
plus four and one-quarter percent (4.25%) per annum (7.50% as of
Dec. 31, 2014).  Under the terms of the Loan Agreement, the Company
has agreed to make monthly payments of accrued interest on the
first day of every month.  The principal amount and all unpaid
accrued interest on the Senior Note is payable on March 1, 2015, or
earlier in the event of default or a sale or liquidation of the
Company.  The Loan may be prepaid in whole or in part at any time
by the Company without penalty.  The Senior Note contains financial
covenants which require the Company to meet certain minimum targets
for earnings before interest, taxes and non-cash expenses,
including depreciation, amortization and stock-based compensation.

The Company granted the Lender a first priority security interest
in all of the Company's assets, in order to secure the Company's
obligation to repay the Loan, including a Deposit Account Control
Agreement, dated as of Aug. 18, 2014, which grants the Lender a
security interest in certain bank accounts of the Company.  The
Loan Agreement contains customary negative covenants restricting
the Company's ability to take certain actions without the Lender's
consent, including incurring additional indebtedness, transferring
or encumbering assets, paying dividends or making certain other
payments, and acquiring other businesses.  Upon the occurrence of
an event of default, the Lender has the right to impose interest at
a rate equal to five percent per annum above the otherwise
applicable interest rate.  The repayment of the Loan may be
accelerated prior to the maturity date upon certain specified
events of default, including failure to pay, bankruptcy, breach of
covenant, and breach of representations and warranties.

                    About HealthWarehouse.com

HealthWarehouse.com, Inc., headquartered in Florence, Kentucky,
is a U.S. licensed virtual retail pharmacy ("VRP") and healthcare
e-commerce company that sells brand name and generic prescription
drugs as well as over-the-counter ("OTC") medical products.

Marcum 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
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, the auditors said.

Healthwarehouse.com Inc. reported a net loss attributable to
common stockholders of $7.30 million following a net loss
attributable to common stockholders of $6.26 million during the
prior year.

The Company's balance sheet at Sept. 30, 2014, showed
$2.19 million in total assets, $5.83 million in total liabilities,
and a $3.64 million in total stockholders' deficiency.

                        Bankruptcy Warning

"The Company recognizes it will need to raise additional capital
in order to meet its payment obligations... and execute its
business plan.  There is no assurance that additional financing
will be available when needed or that management will be able to
obtain financing on terms acceptable to the Company and whether
the Company will become profitable and generate positive operating
cash flow.  If the Company is unable to raise sufficient
additional funds, it will have to develop and implement a plan to
further extend payables, attempt to extend note repayments,
attempt to negotiate the preferred stock redemption and reduce
overhead until sufficient additional capital is raised to support
further operations.  There can be no assurance that such a plan
will be successful.  If the Company is unable to obtain financing
on a timely basis, the Company could be forced to sell its assets,
discontinue its operation and /or seek reorganization under the
U.S. bankruptcy code," the Company stated in its quarterly report
for the period ended Sept. 30, 2014.


HOVNANIAN ENTERPRISES: Reports $14.4 Million Net Loss for Q1
------------------------------------------------------------
Hovnanian Enterprises, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $14.4 million on $446 million of total revenues for the three
months ended Jan. 31, 2015, compared with a net loss of $24.5
million on $364 million of total revenues for the same period in
2014.

As of Jan. 31, 2015, the Company had $2.46 billion in total assets,
$2.59 billion in total liabilities, and a $130 million total
stockholders' deficit.

Total liquidity at the end of the fiscal 2015 first quarter was
$325 million compared to $338 million at Jan. 31, 2014.  Total
liquidity at Jan. 31, 2015, included $269 million of homebuilding
cash and cash equivalents, $5.1 million of restricted cash required
to collateralize letters of credit and $51 million of availability
under the unsecured revolving credit facility.

"We were pleased with the year-over-year improvements in net
contracts and net contracts per community that we reported for the
first quarter of 2015; however, we are disappointed with the
decline in gross margin we experienced both year-over-year and
sequentially," stated Ara K. Hovnanian, chairman of the Board,
president and chief executive officer.  "The early signs are that
the spring selling season is off to an encouraging start.  If the
housing market continues to strengthen, we are hopeful that the
sequential decline in gross margin we experienced will reverse
itself during the second half of fiscal 2015."

"During the first quarter of fiscal 2015, we made progress in
leveraging our total SG&A and our total interest both as a
percentage of total revenues.  As we move forward, our focus
remains on continuing to grow our revenues, so that we can gain
further efficiencies and return many of our operating metrics to
normal levels.  Assuming no changes in market conditions, with the
additional communities we expect to open later this year, fiscal
2016, beginning in seven months, should be a breakout year in
deliveries and revenues, which should lead to a substantial
increase in profitability as compared to recent years," concluded
Mr. Hovnanian.

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

                        http://is.gd/KNcWZ9

                     About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

The TCR reported on Jan. 9, 2014, that Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises to
'B3' from 'Caa1'.  The upgrade of the Corporate Family Rating to
'B3' reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


HOVNANIAN ENTERPRISES: Stockholders Elect 7 Directors
-----------------------------------------------------
Hovnanian Enterprises, Inc., held its 2015 annual meeting on
March 10, 2015, at which the stockholders:

   (a) elected A. Hovnanian, R. Coutts, E. Kangas, J. Marengi,
       V. Pagano, J. Sorsby and S. Weinroth as directors to hold
       office until the next annual meeting of stockholders and
       until their respective successors have been duly elected
       and qualified;

   (b) ratified the selection of Deloitte & Touche LLP as the
       Company's independent registered public accounting firm for
       the fiscal year ending Oct. 31, 2015; and

   (c) approved, on a non-binding advisory vote, the compensation
       of the Company's named executive officers.

On March 10, 2015, the Board of Directors of Hovnanian Enterprises
approved the amendment and restatement of the Company's Restated
Bylaws, which changes were effective immediately upon approval. The
Bylaws were amended and restated to permit members of the Board of
Directors to participate in any meeting by conference telephone or
communications equipment by means of which all persons
participating in the meeting can hear each other, with such
participation to constitute being present in person at the
meeting.

                    About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

As of Oct. 31, 2014, the Company had $2.28 billion in total
assets, $2.40 billion in total liabilities and a $118 million
in total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

The TCR reported on Jan. 9, 2014, that Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


HYDROCARB ENERGY: Implements Strategic Financing
------------------------------------------------
Hydrocarb Energy Corporation has raised approximately $0.96 million
of strategic cash pursuant to its financing plan initiated earlier
this year.   

The plan is designed to raise immediate cash and position the
company to execute a larger financing in the future.  It is
expected that a larger financing would provide development capital
for the company's producing assets in Galveston Bay and also
provide a credit line available to use for producing property
acquisitions.

On Feb. 26, 2015, the company reported reserve increases with net
present value (NPV) 10% discount rates rising to $55.9 million.
This was a 20.6% increase over the reported reserves from July
2014.  The January reserve report evaluated all of the company's
proved reserves including undeveloped proved reserves.  It was also
reported that the company's probable reserve drilling prospects, in
addition to its current proved reserves, hold the potential to
increase by another 200%.

When asked to comment, Kent P. Watts, Hydrocarb's chief executive
officer said, "We are in the process of raising strategic cash to
enhance our current liquidity.  We are also working on a major
financing that we hope to use to pay off all current debtors and
put a reserve development loan in place to go after production and
reserve increases."  Mr. Watts continued, "Obtaining the future
financing together with our company's technical experience and
talent as an operator in Texas, should also give us substantial
opportunities to acquire additional producing properties going
forward."

LG Capital Funding, LLC Convertible Note

On Feb. 17, 2015, the Company sold an 8% Convertible Redeemable
Note to LG Capital Funding, LLC in the amount of $105,000 pursuant
to a Securities Purchase Agreement.  Amounts owed under the LG
Capital Convertible Note accrue interest at the rate of 8% per
annum (24% upon the occurrence of an event of default).  The LG
Capital Convertible Note is due and payable on Feb. 17, 2016.  The
principal amount of the LG Capital Convertible Note and all accrued
interest thereon is convertible at the option of the holder into
our common stock at any time.  The conversion price of the LG
Capital Convertible Note is 65% of the average of the two lowest
closing bid prices of our common stock for the 12 trading days
prior to the date a notice of conversion is received by us from LG
Capital.  In the event the Company experiences a "DTC chill" at any
time, the conversion price percentage above decreases to 55%.  At
no time may the LG Capital Convertible Note be converted into
shares of the Company's common stock if that conversion would
result in LG Capital and its affiliates owning an aggregate of in
excess of 9.9% of the then outstanding shares of the Company's
common stock.

Adar Bays, LLC Convertible Note

On Feb. 17, 2015, the Company sold an 8% Convertible Redeemable
Note to Adar Bays, LLC in the amount of $105,000 pursuant to a
Securities Purchase Agreement.  Amounts owed under the Adar Bays
Convertible Note accrue interest at the rate of 8% per annum (24%
upon the occurrence of an event of default).  The Adar Bays
Convertible Note is due and payable on Feb. 17, 2016.  The
principal amount of the Adar Bays Convertible Note and all accrued
interest is convertible at the option of the holder thereof into
the Company's common stock at any time.  The conversion price of
the Adar Bays Convertible Note is 65% of the average of the two
lowest closing bid prices of the Company's common stock for the 12
trading days prior to the date a notice of conversion is received
by the Company from Adar Bays.  In the event the Company
experiences a "DTC chill" at any time, the conversion price
percentage above decreases to 55%.  At no time may the Adar Bays
Convertible Note be converted into shares of the Company's common
stock if that conversion would result in Adar Bays and its
affiliates owning an aggregate of in excess of 9.9% of the then
outstanding shares of the Company's common stock.

KBM Worldwide, Inc. Convertible Note

On Feb. 19, 2015, the Company sold KBM Worldwide, Inc. a
Convertible Promissory Note in the principal amount of $350,000,
pursuant to a Securities Purchase Agreement, dated and entered into
on Feb. 17, 2015.  The KBM Convertible Note bears interest at the
rate of 8% per annum (22% upon an event of default) and is due and
payable on Feb. 19, 2016.  The KBM Convertible Note provides for
customary events of default such as failing to timely make payments
under the KBM Convertible Note when due.  Additionally, upon the
occurrence of certain fundamental defaults, as described in the KBM
Convertible Note, the Company is required to repay KBM liquidated
damages in addition to the amount owed under the KBM Convertible
Note.

The principal amount of the KBM Convertible Note and all accrued
interest is convertible at the option of the holder thereof into
our common stock at any time following the 180th day after the KBM
Convertible Note was issued.  The conversion price of the KBM
Convertible Note is equal to 50% multiplied by the average of the
lowest five closing bid prices of the Company's common stock during
the fifteen trading days immediately prior to the date of any
conversion.

JSJ Investments Inc. Convertible Note

On Feb. 23, 2015, the Company sold a 10% Convertible Note to JSJ
Investments Inc. in the amount of $137,000.  Amounts owed under the
JSJ Convertible Note accrue interest at the rate of 10% per annum.
The JSJ Convertible Note is payable by the Company on demand by JSJ
at any time after Aug. 23, 2015.  The Company has the right to
prepay the JSJ Convertible Note (a) for an amount equal to 135% of
the then balance of such note until the 90th day following the date
of the note, (b) for an amount equal to 140% of the balance of such
note from the 91st day following the date of the note until the
maturity date of the note, and (c) for an amount equal to 150% of
the balance of such note subsequent to the maturity date (provided
the holder consents to such payment after maturity).

Typenex Co-Investment, LLC Convertible Note

On March 5, 2015, the Company sold a Secured Convertible Promissory
Note to Typenex Co-Investment, LLC in the amount of $350,000.  The
Typenex Convertible Note was issued pursuant to the terms of a
Securities Purchase Agreement dated as of the same date.  The
Typenex Convertible Note bears interest at the rate of 10% per
annum (22% upon the occurrence of an event of default) and is due
and payable in full on Jan. 5, 2016.  The Typenex Convertible Note
provides for customary events of default such as failing to timely
make payments under the Typenex Convertible Note when due.
Additionally, upon the occurrence of certain fundamental defaults,
as described in the Typenex Convertible Note, the Company is
required to repay Typenex liquidated damages in addition to the
amount owed under the Typenex Convertible Note.

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

                         http://is.gd/oGGt9h

                        About Hydrocarb Energy

Hydrocarb Energy, formerly known as Duma Energy Corp, is a
publicly-traded Domestic and International energy exploration and
production company targeting major under-explored oil and gas
projects in emerging, highly prospective regions of the world.
With exploration concessions in Africa, production in Galveston
Bay and Oil Field Services in the United Arab Emirates, the
Company maintain offices in Houston, Texas, Abu Dhabi, UAE and
Windhoek, Namibia.

Hydrocarb Energy reported a net loss of $6.55 million on $5.06
million of revenues for the year ended July 31, 2014, compared to
a net loss of $37.5 million on $7.07 million of revenues for the
year ended July 31, 2013.

"A decline in the price of our common stock could result in a
reduction in the liquidity of our common stock and a reduction in
our ability to raise additional capital for our operations.
Because our operations to date have been largely financed through
the sale of equity securities, a decline in the price of our
common stock could have an adverse effect upon our liquidity and
our continued operations.  A reduction in our ability to raise
equity capital in the future could have a material adverse effect
upon our business plan and operations, including our ability to
continue our current operations," the Company stated in its
Annual Report for the year ended July 31, 2014.


I.E.C. RENTALS: Case Summary & 10 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: I.E.C. Rentals, Inc.
        3994 Mercantile Avenue
        Naples, FL 34104

Case No.: 15-02491

Chapter 11 Petition Date: March 12, 2015

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

Debtor's Counsel: Joe M Grant, Esq.
                  MARSHALL SOCARRAS GRANT
                  197 S. Federal Hwy, Suite 300
                  Boca Raton, FL 33432
                  Tel: (561) 672-7580
                  Fax: (561) 672-7581
                  Email: jgrant@msglaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Robert E. Cadenhead, director.

List of Debtor's 10 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Collier County Tax Collector                           Unknown

GE Capital Commercial, Inc.                            Unknown

Harrison Hubschman                                     Unknown

Jean Ivy Nebus                                         Unknown

John F. Hooley, Esq.                                   Unknown

Judy Anne Blake                                        Unknown

Lehigh Hanson, Inc.                                    Unknown

Nations Rent, Inc.                                     Unknown

Richard Cimino, Esq.                                   Unknown

State of Florida Department of Revenue                 Unknown


I.E.C. RENTALS: Files for Ch. 11 in Ft. Myers, Florida
------------------------------------------------------
I.E.C. Rentals, Inc., sought Chapter 11 protection (Bankr. M.D.
Fla. Case No. 15-02491) in Ft. Myers, Florida, on March 12, 2015,
without stating a reason.

Naples, Florida-based I.E.C. Rentals estimated $10 million to $50
million in assets and less than $10 million in debt.

According to the docket, the Chapter 11 plan and disclosure
statement are due by July 10, 2015.

Robert E. Cadenhead, director, signed the petition.  The Debtor is
represented by Joey M Grant, Esq., at Marshall Grant PL, in Boca
Raton, Florida.



IDERA PHARMACEUTICALS: Reports $39.2 Million Net Loss for 2014
--------------------------------------------------------------
Idera Pharmaceuticals, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common stockholders of $39.2 million on $73,000 of
alliance revenue for the year ended Dec. 31, 2014, compared to a
net loss applicable to common stockholders of $21.09 million on
$47,000 of alliance revenue in 2013.  The Company previously
incurred a net loss applicable to common stockholders of $22.5
million in 2012.

As of Dec. 31, 2014, the Company had $51.42 million in total
assets, $8.02 million in total liabilities and $43.4 million in
total stockholders' equity.

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

                        http://is.gd/D5jSuO

                            About Idera

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


IDERA PHARMACEUTICALS: To Issue 3.2MM Shares Under Option Plan
--------------------------------------------------------------
Idera Pharmaceuticals, Inc. filed with the Securities and Exchange
Commission a Form S-8 registration statement to register 3.2
million shares of common stock issuable under the Company's
Inducement Stock Option Awards.  A full-text copy of the prospectus
is available at http://is.gd/LXlLoH

                            About Idera

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

Idera Pharmaceuticals reported a net loss attributable to common
stockholders of $39.2 million in 2014, a net loss applicable to
common stockholders of $21.09 million in 2013 and a net loss
applicable to common stockholders of $22.5 million in 2012.

As of Dec. 31, 2014, the Company had $51.4 million in total assets,
$8.02 million in total liabilities and $43.4 million in total
stockholders' equity.


INN AT WOODBRIDGE: Appeals Relating to "Wolosoff" Guaranty Denied
-----------------------------------------------------------------
James K. Wolosoff appealed from a March 14, 2014 Bankruptcy Court
order in the adversary proceeding In re INN AT WOODBRIDGE, Debtor.,
JAMES K. WOLOSOFF, AKA KENNETH JAMES WOLOSOFF v. WBCMT 2006-C24
WOOD AVENUE, LLC, and the Final Judgment for Sum Certain entered on
October 7, 2014 in the Adversary Proceeding.  The Bankruptcy
Court's Order granted summary judgment against Mr. Wolosoff as to
his liability under certain sections of a Limited Recourse
Obligations Guaranty.  WBCMT 2006-C24, the other party to the
Guaranty and the party to whom judgment was awarded in the Order
and the Final Judgment, opposed Mr. Wolosoff's appeal and further
appealed a decision by the Bankruptcy Court entered on November 21,
2014 granting Mr. Wolosoff's Motion for Extension of Time to File
Notice of Appeal. Mr. Wolosoff opposes WBCMT 2006-C24's appeal. The
two appeals have been consolidated.

Mr. Wolosoff is the President of Metroplaza Hotel Holdings, Inc.,
which is the managing member of Metroplaza Hotel, LLC; and the
President, sole shareholder and director of the Inn at Woodbridge,
Inc. d/b/a Woodbridge Hilton. Metroplaza was the owner of a
hotel/office property known as the Woodbridge Hilton.  The Inn
operated the hotel functions at the Property. On November 29, 2005,
Metroplaza and the Inn entered into a number of financing
agreements with lender Artesia Mortgage Capital Corporation.  Among
those agreements were a mortgage on the Property and a fixed rate
note for $36 million, which was executed by Metroplaza alone.  On
the same day, Mr. Wolosoff entered into a Limited Recourse
Obligations Guaranty with the Lender which stated that if
Metroplaza filed for bankruptcy, he would be personally liable for
the outstanding balance on the Note.  The Lender's rights under
these financing agreements, including the Guaranty, were assigned
to WBCMT 2006-C24.

On December 6, 2012, Metroplaza and the Inn each filed Chapter 11
cases before the New Jersey Bankruptcy Court.

In a March 9, 2015 Opinion available at http://is.gd/zVP9mtfrom
Leagle.com, District Judge Anne Thompson denied both parties'
appeals.

The New Jersey District Court is not persuaded by Mr. Wolosoff's
arguments, and:

  -- finds that the applicable law regarding the implied covenant
     of good faith and fair dealing does not preclude enforcement
     of the Guaranty;

  -- agrees that the Guaranty is not unenforceable on public
     policy grounds because it tends to induce a breach of
     fiduciary duty; and

  -- finds that the Guaranty serves to define the terms and
     conditions of the guarantor’s personal liability and as
such,
     is not a penalty.

The Court also notes that there is no indication that Mr. Wolosoff
and/or WBCMT 2006-C4 acted in bad faith in lodging the appeals.

JAMES K. WOLOSOFF, Appellant, represented by GREGORY S. KINOIAN,
OKIN HOLLANDER LLC.

WBCMT 2006-C24 WOOD AVENUE, LLC, Appellee, represented by GARY
EISENBERG -- Geisenberg@perkinscoie.com -- Perkins Coie LLP.


INTERTAIN GROUP: Moody's Assigns 'B2' Corp. Family Rating
---------------------------------------------------------
Moody's Investors Service assigned ratings to The Intertain Group
Limited, consisting of a B2 corporate family rating, B2-PD
probability of default rating, B2 rating to its proposed senior
secured credit facilities, and SGL-2 speculative grade liquidity
rating.  The ratings outlook is stable.  This is the first time
Moody's has assigned ratings to Intertain.

Proceeds from the US$335 million (C$419 million) first lien term
loan, together with C$592 million of new equity, will be used to
fund the acquisition of the online bingo and other
business-to-consumer assets of Gamesys Limited (C$819 million),
repay existing debt (C$66 million), fees and expenses (C$61
million) and retain excess cash on the balance sheet (C$65
million).  The new US$17.5 million revolver will be undrawn at
close.

Ratings Assigned:

  -- Corporate Family Rating, B2

  -- Probability of Default Rating, B2-PD

  -- US$17.5 million (C$22 million) First Lien Revolver due 2020,  

     B2 (LGD3)

  -- US$335 million (C$419 million) First Lien Term Loan B due
     2022, B2 (LGD3)

  -- Speculative Grade Liquidity, SGL-2

Outlook:

  -- Assigned as Stable

Intertain's B2 CFR is primarily driven by its limited operating
track record, acquisition growth orientation, participation in a
sector with high business risk, small scale and limited geographic
diversity but mitigated by moderate leverage (pro forma adjusted
Debt/EBITDA around 3x) and good industry growth prospects.

Moody's considers Intertain's liquidity as good, reflected by the
SGL-2 rating.  This is supported by pro forma cash around C$100
million, expectations for 2015 free cash flow around C$100 million,
and full availability under its new US$17.5 million revolving
credit facility that matures in 2020.  These sources are more than
sufficient to cover annual term loan amortizations of about C$4
million.  Intertain's revolver will be subject to a springing
maximum net leverage covenant when drawings exceed a certain
threshold.  Moody's does not expect this covenant to be stringent
for the foreseeable future.  Intertain has limited ability to
generate liquidity from asset sales as its credit facilities are
secured by liens on all assets of the company and its material
subsidiaries.

The outlook is stable to reflect Moody's expectations that key
credit metrics will be maintained at levels of strength for the B2
rating through the next 12 to 18 months while the company addresses
integration risks with its acquired assets.

Intertain's ratings may be upgraded once the company demonstrates a
longer track record of managing its operations, diversifies its
revenue stream geographically, and sustains adjusted Debt/EBITDA
below 4x and EBIT Interest above 4x.  Intertain's rating could be
downgraded if adjusted Debt/EBITDA is sustained above 5x and
EBIT/Interest below 2x, most likely driven by increased competition
in online UK bingo or an inability to efficiently manage its
acquired businesses.

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

The Intertain Group Limited is an online gaming holding company
that provides bingo, casino and other games to a global consumer
base, with a focus on online UK bingo.  Pro forma for recent
acquisitions, revenue will approach $400 million.  Intertain began
operations in February 2014 and is headquartered in Toronto,
Ontario, Canada.


LAZARD GROUP: Moody's Gives Ba1 Unsec Rating to Debt Shelf Facility
-------------------------------------------------------------------
Moody's Investors Service has assigned (P)Ba1 and (P)Ba2 senior
unsecured and subordinate ratings, respectively, to Lazard Group
LLC's debt shelf registration statement.

RATINGS RATIONALE

Moody's said the (P)Ba1 rating assigned to Lazard's senior
unsecured debt shelf is consistent with its existing senior
unsecured debt rating, and that the (P)Ba2 rating assigned to
Lazard's subordinated debt shelf reflects its junior position
relative to the company's senior unsecured rating.

What Could Change the Rating -- Up

Moody's said that upward rating momentum will most likely be
dependent upon the degree to which Lazard sustains its cost
conscious behavior and the development of its capital policies with
respect to the balance between creditor and shareholder interests.
These matters will be evidenced by the level of consistency and
volatility of its profit margins, trends in its debt service
metrics and its levels of tangible common equity and double
leverage.  Continued growth in contributions from the asset
management business would also be positive for the rating.

What Could Change the Rating -- Down

Moody's said that a significant deterioration in debt coverage
metrics would be viewed negatively, as would the escalation of
employee compensation costs at a rate that exceeds revenue growth.
Reduced financial flexibility, for example in the form of a
significant reduction in cash on hand, would also pressure the
rating.  A significant downturn in contributions from the asset
management business would be negative for the rating.

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


LIFE PARTNERS: Receives Nasdaq Listing Non-Compliance Notice
------------------------------------------------------------
Life Partners Holdings Inc. disclosed that on March 11, 2015, it
received a letter from the Nasdaq Listing Qualifications department
notifying the Company that based upon its review of the Company's
market value of publicly held shares ("MVPHS") for the last 30
consecutive business days, the Company no longer meets Nasdaq's
requirement of a minimum MVPHS of $5 million as required by Nasdaq
Listing Rule 5450(b)(1)(C).  The Company has a compliance period of
180 calendar days to regain compliance with Nasdaq's MVPHS
requirement.

If at any time during this 180-day compliance period, the Company's
MVPHS closes at $5 million or more for a minimum of ten consecutive
business days, Nasdaq will provide the Company written confirmation
of compliance and this matter will be closed. In the event the
Company does not regain compliance with Rule 5450(b)(1)(C) prior to
the expiration of the compliance period, the Company will receive
written notification that its securities are subject to delisting.
At that time, the Company may appeal the delisting determination.
Alternatively, the Company may apply to transfer its securities to
the Nasdaq Capital Market.

The Company intends to monitor its MVPHS and may, if appropriate,
consider implementing available options to regain compliance with
the MVPHS requirement under the Rules.  The Company has submitted a
hearing request relating to its previously disclosed delisting
proceedings, which is scheduled for March 19, 2015.  There can be
no assurance that the Company will be successful in its appeal or
will be able to regain compliance with applicable Nasdaq Listing
Rules.

                       About Life Partners

Life Partners Holdings, Inc., is the parent company of the world's
oldest company engaged in the secondary market for life insurance,
commonly called "life settlements."  Since its incorporation in
1991, Life Partners, Inc. has completed over 162,000 transactions
for its worldwide client base of over 30,000 high net worth
individuals and institutions in connection with the purchase of
over 6,500 policies totaling over $3.2 billion in face value.

Headquartered in Waco, Texas, Life Partners -- http://www.lphi.com/
-- is a financial services company engaged in the secondary market
for life insurance known as life settlements.

Life Partners sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Tex., Case No. 15-40289) on Jan. 20, 2015.  The
case is assigned to Judge Russell F. Nelms.

The U.S. Trustee for Region 6 appointed three creditors of Life
Partners Holdings to serve on the official committee of unsecured
creditors.   Tracy A. Bolt of BDO USA, LLP, was named as examiner
for the Debtor's case.


LONGVIEW POWER: Plan Confirmation Hearing Begins Today
------------------------------------------------------
In advance of the March 16, 2015 confirmation hearing, Longview
Power, LLC, et al. filed their Second Amended Joint Plan of
Reorganization containing technical modifications and plan
supplements.

In particular, the Plan Modifications revise the definition of
"Released Parties" provided by the Plan to include:

   * MUFG Union Bank, N.A (formerly known as Union Bank of
California, N.A.) in its capacity as collateral agent under the
Longview Credit Agreement;

   * Citicorp North America, Inc., in its capacity as
administrative agent under the Longview Credit Agreement;

   * Morgan Stanley Senior Funding, Inc., KKR Capital Markets LLC,
KKR Corporate Lending LLC, and Third Avenue Trust, each in their
capacities as Commitment Parties;

   * the Exit Facility Lenders, solely in their capacities as such;
and

   * the agents, attorneys, representatives, principals, employees,
officers, directors, managers, and advisors with respect to each of
the foregoing and with respect to the Backstoppers, DIP Lenders,
and steering group for the Debtors' prepetition lenders.

According to the Debtors, the Plan Modifications will provide the
Additional Parties with the benefit of the "Debtor Release" and
exculpation provided under Articles VIII.C and VIII.F of the Plan
to reflect the significant contributions provided by these parties
to the Debtors' restructuring efforts.  These Additional Parties
will also benefit from the Third Party Releases, if creditors elect
not to opt out of granting those releases prior to April 8, 2015,
the Debtors said.

The Plan Supplements are:

   * Exhibit A – New Organizational Documents
   * Exhibit B - Rejected Executory Contract and Unexpired Lease
Schedule
   * Exhibit B-1 – Schedule of Cure Amounts for Executory
Contracts and Unexpired Leases to be Assumed Pursuant to the Plan
   * Exhibit C – Schedule of Retained Causes of Action
   * Exhibit D - Exit Facility Agreement
   * Exhibit E - Exit Facility Documents
   * Exhibit F - Non-Released Parties Schedule
   * Exhibit I – Foster Wheeler Settlement Agreement
   * Exhibit J – Identity of the New Board for Reorganized
Longview

Siemens Energy, Inc., Kvaerner North American Construction Inc.,
filed separate statements, notifying the Court that, pursuant to
Section H.2. of the Settlement Agreement with Longview Power, they
have timely filed their ballot voting in favor of confirmation of
the Debtors' Plan and support confirmation of the same Plan.

Fifth Third Bank, a party to three unexpired leases, told the Court
that it accepted the Plan based upon the information and belief
that the Debtors will assume its leases and cure any deficiencies,
as required by Sec. 365 of the Bankruptcy Code.  In submitting the
ballot, Fifth Third said it expressly reserved its right to amend,
modify, suspend, withdraw its ballot pending its review of the
Debtors' rejected executory contract and unexpired lease schedule.

A black-lined version of the Plan dated March 9, 2015, is available
at http://bankrupt.com/misc/LONGVIEWplan0309.pdf

Fifth Third is represented by:

         Garvan F. McDaniel, Esq.
         HOGAN MCDANIEL
         1311 Delaware Avenue
         Wilmington, DE 19806
         Tel: (302)656-7540
         Fax: (302)656-7599

            -- and --

         Kirk B. Burkley, Esq.
         707 Grant Street, Suite 2200 Gulf Tower
         Pittsburgh, PA 15219
         Tel: (412) 456-8108
         Fax: (412) 456-8135
         E-mail: kburkley@bernsteinlaw.com

            -- and --

         Daniel R. Schimizzi, Esq.
         Tel: (412) 456-8121
         Fax: (412) 456-8135
         E-mail: dschimizzi@bernsteinlaw.com

                       About Longview Power

Longview Power LLC is a special purpose entity created to
construct, own, and operate a 695 MW supercritical pulverized
coal-fired power plant located in Maidsville, West Virginia, just
south of the Pennsylvania border and approximately 70 miles south
of Pittsburgh.  The project is owned 92% by First Reserve
Corporation (First Reserve or sponsor), a private equity firm
specializing in energy industry investments, through its affiliate
GenPower Holdings (Delaware), L.P., and 8% by minority interests.

Longview Power, LLC, filed a Chapter 11 (Bank. D. Del. Lead Case
13-12211) on Aug. 30, 2013.  The petitions were signed by Jeffery
L. Keffer, the Company's chief executive officer, president,
treasurer and secretary.  The Debtor estimated assets and debts of
more than $1 billion.  Judge Brendan Linehan Shannon presides over
the case.  Kirkland & Ellis LLP and Richards, Layton & Finger,
P.A., serve as the Debtors' counsel.  Lazard Freres & Company LLC
acts as the Debtors' investment bankers.  Alvarez & Marsal North
America, LLC, is the Debtors' restructuring advisors.  Ernst &
Young serves as the Debtors' accountants.  The Debtors' claims
agent is Donlin, Recano & Co. Inc.

The Debtor disclosed assets of $1.72 billion plus undisclosed
amounts and liabilities of $1.08 billion plus undisclosed
amounts.

A committee of unsecured creditors has not been appointed in the
case due to insufficient response to the U.S. Trustee's
communication/contact for service on the committee.



MALIBU ASSOCIATES: Defaulted on $47MM US Bank Loan, Closes Club
---------------------------------------------------------------
Samantha Masunaga at the LA Times reports that Malibu Associates,
LLC, has closed its Malibu Golf Club.  The Company, which filed for
Chapter 11 bankruptcy protection, defaulted on a $47-million loan
from U.S. Bank, National Association, the report adds.

The Company posted on its Web site that it planned to expand
current offerings at the club by adding educational facilities and
bungalow retreats.  The LA Times relates that club facilities,
including the golf course, were set for renovations.

                     About Malibu Associates

Headquartered in Malibu, California, Malibu Associates, LLC, owns
the Malibu Golf Club.  The club has a restaurant and clubhouse, in
addition to an 18-hole golf course, on its 650-acre property in the
Santa Monica Mountains.

Malibu Associates sought Chapter 11 protection (Barnk. C.D. Cal.
Case No. 15-10477) in Santa Barbara, California, on March 10, 2015.
It immediately filed schedules, disclosing $76.2 million in total
assets and $47.8 million in total liabilities.

The Debtor owns real property located at 901 Encinal Canyon Road,
Malibu, California.  The property secures a $46.8 million debt to
U.S. Bank, National Association, which is secured by a first deed
of trust on the property.  The Los Angeles County Treasurer and Tax
Collector is also owed $459,800, secured by a tax lien on the
property.

Thomas Hix, the managing member, signed the bankruptcy petition.
The case is assigned to Judge Deborah J. Saltzman.  David L. Neale,
Esq., at Levene Neale Bender Rankin & Brill LLP, in Los Angeles,
serves as counsel to the Debtor.

The Debtor previously sought bankruptcy protection.  The Chapter 11
bankruptcy case entitled In re Malibu Associates, LLC, USBC Case
No. 9-24625, was filed on Nov. 3, 2009, in the Central District of
California, San Fernando Valley Division.  That case was assigned
to the Honorable Maureen A. Tighe, but was later dismissed.  The
real property in Malibu was included in the prior
filing.



MEG ENERGY: Bank Debt Trades at 4% Off
--------------------------------------
Participations in a syndicated loan under which MEG Energy Corp is
a borrower traded in the secondary market at 96.85 cents-on-the-
dollar during the week ended Friday, March 13, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.27
percentage points from the previous week, The Journal relates. MEG
Energy Corp pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on March 16, 2020, and carries
Moody's Ba1 rating and Standard & Poor's BBB- rating.  The loan is
one of the biggest gainers and losers among 226 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



METALICO INC: Resets Results Call; Continues Weighing Options
-------------------------------------------------------------
Metalico, Inc., has delayed its earnings conference call for the
year and quarter ended Dec. 31, 2014, originally scheduled for
March 13, to a date to be determined.

The Company and its auditors are finalizing Metalico's 2014 review.
Metalico intends to announce a new date for the call in the near
future but in any event before it files its Annual Report on Form
10-K with the Securities and Exchange Commission.  Metalico will
also release its results for 2014 and the fourth quarter on the
morning of its earnings call.

The Company's Board of Directors continues to work with its
investment banker and counsel to evaluate strategies for Metalico's
future, including additional asset sales, capital raises, or a
possible sale of the Company.

Contact:

     METALICO, INC.
     Carlos E. Agüero
     Michael J. Drury
     info@metalico.com
     186 North Avenue East
     Cranford, NJ 07016
     Tel: (908) 497-9610
     Fax: (908) 497-1097
     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 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.



MILESTONE SCIENTIFIC: Robert Gintel Holds 5% Stake as of March 9
----------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Robert M. Gintel and Robert Gintel Revocable Trust
disclosed that as of March 9, 2015, they beneficially owned
1,082,664 shares of common stock of Milestone Scientific Inc.,
which represents 5.08 percent of the shares outstanding.  A copy of
the regulatory filing is available for free at:

                        http://is.gd/vkEHqB

                    About Milestone Scientific

Livingston, N.J.-based Milestone Scientific Inc. is engaged in
pioneering proprietary, innovative, computer-controlled injection
technologies and solutions for the medical and dental markets.

Milestone Scientific reported net income of $1.46 million in 2013,
as compared with a net loss of $870,000 in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $17.3 million
in total assets, $2 million in total liabilities, all current, and
$15.3 million in total stockholders' equity.

Baker Tilly Virchow Krause, LLP, in New York, issued "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
since inception, which raises substantial doubt about its ability
to continue as a going concern.


MMRGLOBAL INC: To Report Record 2014 Revenues
---------------------------------------------
MMRGlobal, Inc., plans on reporting record revenues for calendar
year 2014.  This is in addition to previously announced results
from the third quarter, which does not include the fourth quarter
results and revenues from a third large retail pharmacy company.
The Company will also announce its first sales and licensing
agreement in Canada for the distribution of the MyMedicalRecords
Personal Health Record, where MMR holds a Canadian patent for
"Method and System for Providing Online Medical Records."  In 2015,
MMR also plans on selling selected portions of its biotech assets
which include a broad array of tissue, blood and tumor samples
collected from its FavId vaccine trials that MMR is informed has
significant value.

Additionally, the Company is in negotiations in numerous regions in
the Middle East and with previous licensees in Japan regarding
sales, licensing and other strategic opportunities involving its
Personal Health Record products and services.  Governments in the
Middle East are focused on an agenda to utilize health IT as part
of an ambitious expansion of their healthcare system, particularly
pertaining to the fight against diabetes.  Also, given the number
of expats, MyMedicalRecords further responds to the needs of the
region by providing instant access to health data 24/7 from any
healthcare professional anywhere in the world.  Japan also has
mandates regarding the use of Personal Health Records which went
into effect following the Tsunami disaster of 2011.  MMR has
Personal Health Record patents both issued and pending in Japan.

In most GCC countries, non-communicable diseases along with
demographic changes are shifting the burden of disease to lifestyle
habits and risky behaviors. Diabetes is a #1 health problem, with
cardiovascular disease, hypertension and obesity on the rise.
Coordinating care for the chronic disease pandemic is essential,
and having real-time access to health information in an emergency
can be life-saving.  MyMedicalRecords enables timely communication
between patients and their healthcare providers to reduce medical
errors and more effectively manage care.

MyMedicalRecords is a secure, easy-to-use, comprehensive Personal
Health Record that uses its patented technologies to give patients
and healthcare providers the ability share medical records
interoperably into a PHR account.  The information is then
accessible from any Internet-connected computer anywhere in the
world with no special hardware or software requirements.  A
separate Emergency Login feature enables first responders and
medical personnel to have read-only access to potentially
life-saving information in the event of a medical emergency.

In addition to being a leading provider of secure and easy-to-use
Personal Health Records through its MyMedicalRecords PHR, MMR also
offers the MMRPro document management and imaging systems for
healthcare professionals, and the MyEsafeDepositBox solution which
provides an online site to securely store important legal,
financial, insurance and other important documents, as well as
medical and personal health information.  MMR currently has 13
issued U.S. health IT patents including U.S. Patent Nos. 8,301,466;
8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; 8,321,240;
8,498,883; 8,626,532, 8,645,161; 8,725,537; 8,768,725 and
8,775,212, as well as additional applications and continuation
applications involving inventions pertaining to Personal Health
Records, Patient Portals and other Electronic Health Record
systems.  Beyond the U.S., MMR has patents issued, pending and/or
applied for in 11 other countries or regional authorities of
commercial interest including Australia, Singapore, New Zealand,
Mexico, Japan, Canada, Hong Kong, China, South Korea, Israel and
Europe.

                          About MMRGlobal

Los Angeles, Calif.-based MMR Global, Inc. (OTC BB: MMRF)
-- http://www.mmrglobal.com/-- through its wholly-owned operating
subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-
use online Personal Health Records (PHRs) and electronic safe
deposit box storage solutions, serving consumers, healthcare
professionals, employers, insurance companies, financial
institutions, and professional organizations and affinity groups.

MMRGlobal reported a net loss of $7.63 million in 2013, as
compared with a net loss of $5.90 million in 2012.

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 years ended
December 31, 2013 and 2012.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


NATROL INC: Debtor Seeks April 23 Extension of Plan Filing Date
---------------------------------------------------------------
Leaf123, Inc., f/k/a Natrol, Inc., et al., filed a motion asking
the U.S. Bankruptcy Court for the District of Delaware to further
extend the period by which they have exclusive right to file a
Chapter 11 plan of reorganization through and including April 23,
2015, and the period by which they have exclusive right to solicit
acceptances of that plan through and including June 22, 2015.

Explaining the Debtors' motion for a third extension, the Debtors'
counsel, Ian J. Bambrick, Esq., at Young Conaway Stargatt & Taylor,
LLP, in Wilmington, Delaware, says that further extending the
Exclusive Periods will facilitate an orderly and cost effective
plan process for the benefit of all creditors by providing the
Debtors with a meaningful opportunity to build on the progress that
has been made in the Chapter 11 Cases without unnecessary
interference from non-debtor parties.

Termination of the Exclusive Periods, on the other hand, would give
rise to the threat of competing plans, resulting in increased
administrative expenses that would diminish the value of the
Debtors' estates to the detriment of creditors and equity holders,
Mr. Bambrick tells the Court.  Termination of the Exclusive Periods
could also meaningfully delay, if not completely undermine, the
Debtors' ability to confirm the Plan, Mr. Bambrick adds.

                     About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc., sold herbs and
botanicals, multivitamins, specialty and sports nutrition
supplements made to support health and wellness throughout all ages
and stages of life.  Natrol, Inc., was a wholly owned subsidiary of
Plethico Pharmaceuticals Limited (BSE: 532739. BO: PLETHICO).

Natrol, Inc., and its six affiliates sought bankruptcy protection
(Bankr. D. Del. Case No. 14-11446)  on June 11, 2014.  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at Gibson, Dunn & Crutcher LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
Epiq Systems INC.

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

The Official Committee Of Unsecured Creditors tapped Otterbourg
P.C. as lead counsel; Pepper Hamilton LLP as Delaware counsel; and
CMAG as financial advisors.

On Nov. 10, 2014, the Debtors held an auction for the sale of the
assets, and Aurobindo Pharma USA Inc. emerged as the successful
bidder.  The Court approved the sale and the sale closed on Dec. 4,
2014.  The Debtors changed their names to Leaf123, Inc., following
the sale.

                            *     *     *

The Troubled Company Reporter, on Feb. 23, 2015, reported that
Leaf123, Inc., f/k/a Natrol Inc., and its debtor affiliates filed a
Chapter 11 plan of liquidation, pursuant to which tax refunds and
credits, all shares of capital stock or other Equity Interests in
Natrol UK, all Avoidance Actions not otherwise purchased by the
Buyer under the Purchase Agreement, the proceeds from prepetition
litigation, the proceeds from the Sale Transaction, and certain
other assets are being pooled and distributed to persons or
entities holding allowed claims in accordance with the priorities
of the Bankruptcy Code.

The Debtors will present the explanatory Disclosure Statement for
approval at a hearing on March 30, 2015, at 10:00 a.m. (prevailing
Eastern Time).  Objections, if any, must be submitted on or before
March 18.  The hearing to consider confirmation of the Plan is
currently scheduled for May 6, 2015, at 10:00 a.m. (ET).



NEONODE INC: Reports $14.2 Million Net Loss for 2014
----------------------------------------------------
Neonode Inc. filed with the Securities and Exchange Commission its
annual report on Form 10-K disclosing a ne tloss of $14.2 million
on $4.74 million of net revenues for the year ended Dec. 31, 2014,

compared to a net loss of $13.08 million on $3.71 million of net
revenues for the year ended Dec. 31, 2013.  The Company also
reported a net loss of $9.28 million in 2012.

As of Dec. 31, 2014, the Company had $8.60 million in total assets,
$5.33 million in total liabilities and $3.27 million in total
stockholders' equity.

"I am excited to announce that we recently signed an agreement with
one of the largest PC OEMs where we, along with our partners, will
deliver touch and proximity modules for their PC products," said
Neonode CEO Thomas Eriksson.

"We continue to work with the leading printer OEMs developing
multiple products for 2015 and beyond.  These printer OEMs
represent the majority of volumes for the printer market,"
continued Mr. Eriksson.

"After 5 years of intense integration and development work we now
have multiple automotive OEMs in production and more are coming to
production during 2015 to begin shipping worldwide.  Our zForce
technology has been integrated into cars ranging from extremely
high end to economy, which really show the versatility of our
solutions.  I am also happy to notice that the reviews on the Volvo
XC90 have been very positive," concluded Mr. Eriksson.

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

                       http://is.gd/xiJKGZ

                        About Neonode Inc.

Lafayette, Calif.-based Neonode Inc. (OTC BB: NEON)
-- http://www.neonode.com/-- provides optical touch screen
solutions for hand-held and small to midsize devices.


NEW LOUISIANA: Palm Terrace Debtors Hire SLIB as Broker
-------------------------------------------------------
SA-Lakeland, LLC, SA-Clewiston, LLC and SA-St. Petersburg, LLC --
the so-called "Palm Terrace Debtors" -- seek authorization from the
U.S. Bankruptcy Court for the Western District of Louisiana to
employ Senior Living Investment Brokerage, Inc. ("SLIB") to provide
brokerage services in connection with proposed sale of skilled
nursing operations.

The Palm Terrace Debtors have determined, in the exercise of their
business judgment and in consultation with the Committee, to sell
the operations of the Facilities (the "Operations").  By separate
motion, the Palm Terrace Debtors request an order from the Court
approving bidding procedures and the sale of the Operations to the
winning bidder.

In order to facilitate the sale of the Operations and obtain the
highest and best offer for the Operations for the benefit of the
Palm Terrace Debtors' estates and creditors, the Palm Terrace
Debtors have, subject to this Court's approval, engaged SLIB to
conduct a competitive marketing process for the Operations and to
act as broker for the Palm Terrace Debtors.

SLIB will conduct a marketing process for the Operations in
accordance with bidding procedures that are approved by the Court.
In the event that some or all of the Operations are sold to a
bidder, SLIB shall receive a commission equal to 2.0% of the
purchase price (the "Commission").  No compensation is due to SLIB
under the Agreement unless the Operations are sold.

Bradley Clousing, managing director of SLIB, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

SLIB can be reached at:

       Bradley J. Clousing
       SENIOR LIVING INVESTMENT BROKERAGE, INC.
       490 Pennsylvania Ave.
       Glen Ellyn, IL 60137
       Tel: (630) 858-2501 x 231
       E-mail: clousing@slibinc.com

                    About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on June
25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853), Lakewood
Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854), Lakewood
Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855), Panola 501
Partners, LP (Case No. 14-50862), Regency 14333 Tenant, LLC (Case
No. 14-50861), Retirement Center 14686 Tenant, LLC (Case No.
14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No.
14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No.
14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No.
14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101),
SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC (Case No.
14-51103) -- that operate skilled nursing facilities located in
Lakeland, Clewiston and St. Peterburg, Florida, sought protection
under Chapter 11 of the Bankruptcy Code on Sept. 3, 2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert Summerhays
of the United States Bankruptcy Court for the Western District of
Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NGPL PIPECO: Bank Debt Trades at 4% Off
---------------------------------------
Participations in a syndicated loan under which NGPL PipeCo LLC is
a borrower traded in the secondary market at 95.95 cents-on-the-
dollar during the week ended Friday, March 13, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an decrease of 0.24
percentage points from the previous week, The Journal relates.
NGPL PipeCo LLC pays 550 basis points above LIBOR to borrow under
the facility. The bank loan matures on May 4, 2017, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 226 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



OHIO VALLEY: Moody's Affirms Ba3 Rating to Bonds; Outlook Stable
----------------------------------------------------------------
Moody's Investors Service affirms the Ba3 rating assigned to Ohio
Valley General Hospital's (Ohio Valley) bonds.

SUMMARY RATING RATIONALE

The Ba3 affirmation is based on the hospital's adequate and growing
investment position, which provides cushion for debt and continued
operating losses, which grew in fiscal year 2014.  The Ba3 reflects
long-term vulnerability as a small hospital in a competitive
market, volume declines and the hospital's high dependency on
investment returns for debt service and capital needs.

OUTLOOK

The stable outlook reflects expectations that Ohio Valley will meet
the FY 2015 budget, which is an improvement over FY 2014.  In
addition, Moody's expects the system to have resolved the
non-recurring items which drove weaker performance in FY 2014 and
to continue to generate favorable investment returns allowing for
cash growth and capital spending increases.

WHAT COULD MAKE THE RATING GO UP

   -- Significant and sustained increase in revenue base and
      patient volume growth
   -- Sustainable and meaningful increase in operating cashflow
   -- A strong affiliation or merger with a larger system

WHAT COULD MAKE THE RATING GO DOWN

   -- Failure to meet projected FY 2015 operating levels
   -- Notable decline in volumes
   -- Weakening balance sheet and debt coverage metrics
   -- Issuance of debt

OBLIGOR PROFILE

Ohio Valley General Hospital is a private standalone hospital
comprised of 138 beds and located in Kennedy Township, PA in
Allegheny County.  The organization includes a general acute care
hospital, two senior living facilities, School of Nursing, School
of Radiography and various outpatient facilities.

LEGAL SECURITY

The 2003 and 2005 bonds are secured by a gross revenue pledge and
mortgage; additional bonds tests and rate covenants are adequate;
debt service reserve fund.  The 2011 bonds are secured by
substantially all assets of The Residence at Willow Lane and The
Residence at Willow Heights, with a minimum debt service coverage
ratio of 1.2 and a minimum 175 days cash on hand for the system.

USE OF PROCEEDS

Not applicable

RATING METHODOLOGY

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


OKLAHOMA UNITED: PCO Hires Andrews Davis as Counsel
---------------------------------------------------
Deborah Burian, the patient care ombudsman ("PCO") of Central
Oklahoma United Methodist Retirement Facility, Inc. asks for
permission from the U.S. Bankruptcy Court for the Western District
of Oklahoma to employ Andrews Davis, P.C. as counsel for the PCO.

The professional services that Andrews Davis will render to the PCO
include but are not limited to, the following:

   (a) provide the PCO legal advice with respect to the powers and

       duties as a patient care ombudsman;

   (b) provide the PCO legal advice with respect to, and
       assistance in, the preparation of the filing of any reports

       required to be submitted by the PCO;

   (c) prepare necessary applications, answers, orders, and other
       legal papers; and

   (d) perform all other legal services for the PCO as may be
       necessary.

Andrews Davis will be paid at these hourly rates:

       Shareholder             $255-$350
       Associate               $150-$250
       Of Counsel              $250-$280
       Legal Assistants        $75

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

Mark B. Toffoli of Andrews Davis assured the Court that the firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

Andrews Davis can be reached at:

       Mark B. Toffoli, Esq.
       ANDREWS DAVIS, P.C.
       100 North Broadway, Suite 3300
       Oklahoma City, OK 73102
       Tel: (405) 272-9241
       Fax: (405) 235-8786
       E-mail: mtoffoli@andrewsdavis.com

               About Central Oklahoma United Methodist

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

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

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


PACIFIC DRILLING: Bank Debt Trades at 17% Off
---------------------------------------------
Participations in a syndicated loan under which Pacific Drilling
Ltd is a borrower traded in the secondary market at 83.20
cents-on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 1.26 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 226 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



PEABODY ENERGY: Bank Debt Trades at 10% Off
-------------------------------------------
Participations in a syndicated loan under which Peabody Energy
Power Corp. is a borrower traded in the secondary market at 90.20
cents-on-the-dollar during the week ended Friday, March 13,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
a decrease of 3.05 percentage points from the previous week, The
Journal relates.  Peabody Energy pays 325 basis points above LIBOR
to borrow under the facility.  The bank loan matures on Sept. 20,
2020, and carries Moody's Ba2 rating and Standard & Poor's BB
rating.  The loan is one of the biggest gainers and losers among
226 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



PHOENIX PAYMENT: Authorized to Use Cash Collateral Until April 3
----------------------------------------------------------------
The Bankruptcy Court approved a stipulation between Phoenix Payment
Systems, Inc., and The Bancorp Bank authorizing the Debtor's use of
cash collateral.

The stipulation dated Feb 24, 2015, provides that, among other
things:

   1. the Bank's cash collateral termination date is extended until
April 3, 2015;

   2. the Bank is granted continued adequate protection of the
adequate protection obligations;

   3. the Bank may request further or different adequate protection
or other relief, and the Debtor or any other party in interest may
contest any such request; and

   4. the terms of the final DIP Order, as modified by the first
cash collateral order and the second cash collateral order, will
remain in full force and effect.

                      About Phoenix Payment

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

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

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

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

Judge Mary F. Walrath presides over the case.

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

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

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

                          *     *     *

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

The Reorganized Debtor Assets will revest in the reorganized debtor
and the remainder, which is a majority of the Debtor's assets,
including the proceeds from the sale, will be transferred to a
liquidating trust for distribution to creditors and stockholders.

The Debtor estimates that it will be able to make an initial
distribution of not less than $27.5 million of cash on the
effective date.  The Debtor estimates that the holders of General
Unsecured Claims, the Frascella Claims and the Schubiger Claims
will receive 90% of the amounts of their claims from the initial
distribution.



PHOENIX PAYMENT: Court Confirms Ch. 11 Reorganization Plan
----------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware on March 10, 2015, issued an order confirming the joint
plan of reorganization of Phoenix Payment Systems, Inc.

Judge Walrath overruled the objection of the U.S. Trustee.  Andrew
R. Vara, Acting United States Trustee for Region 3, complained that
the Plan authorizes the payment of retention bonuses incurred for
the benefit of at least one insider of the Debtor.  Unless the plan
proponents establish that the bonuses satisfy Section 503(c) of the
Bankruptcy Code, the Plan does not satisfy Section 1129(a)(1) and
should not be confirmed, the U.S. Trustee said.

The Debtor, in response of the U.S. Trustee's objection, argued
that the transaction retention plan, which is a plan adopted almost
2.5 years prepetition, is subordinated in priority to all other
unsecured creditors, and applies to five participants, four of whom
are not insiders.  The Debtor further argued that the objection
seeks to re-write the Bankruptcy Code by having the limitations set
forth in Section 503(c) of the Bankruptcy Code, which, by the
express and unambiguous terms of the statute, only apply to the
allowance and payment of administrative expenses, bar distributions
to holders of prepetition claims.  Only Congress, and not the U.S.
Trustee, has this authority, the Debtor asserted.

Scott M. Ewing, of Rust Consulting/Omni Bankruptcy, the Debtor's
notice and claims agent and administrative advisor, said in an
affidavit that a majority of the classes of creditors entitled to
vote under the Plan voted to accept the Plan.  Specifically, 95.65%
in number of Class 3A - General Unsecured Claims voted to accept
the Plan, while 100% in number of Class 3B - Frascella Claims,
Class 3C - Schubiger Claims, Class 5A - Series B Preferred Stock
Interests, and Class 5B - Series A Preferred Stock Interests voted
to accept the Plan.  Meanwhile 85.71% in number of Class 6 - Common
Stock Interests and Series C Stock Interests voted to accept the
Plan.

Prior to the confirmation hearing, the Debtor disclosed that the
new member of the board of directors is Jame W. Mitnick of SM
Financial Services Corporation, and new officers of the
reorganization Debtor are Ms. Mitnick to serve as president and
Michael E. Jacoby of PMCM, LLC.

                      About Phoenix Payment

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

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

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

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

Judge Mary F. Walrath presides over the case.

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

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

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

                          *     *     *

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

The Reorganized Debtor Assets will revest in the reorganized
debtor
and the remainder, which is a majority of the Debtor's assets,
including the proceeds from the sale, will be transferred to a
liquidating trust for distribution to creditors and stockholders.

The Debtor estimates that it will be able to make an initial
distribution of not less than $27.5 million of cash on the
effective date.  The Debtor estimates that the holders of General
Unsecured Claims, the Frascella Claims and the Schubiger Claims
will receive 90% of the amounts of their claims from the initial
distribution.

Judge Walrath on Jan. 30, 2015, approved the disclosure statement
explaining the Debtor's plan.


PLATTSBURGH SUITES: Hires SaxBST LLP as Accountants
---------------------------------------------------
Plattsburgh Suites, LLC seeks authorization from the U.S.
Bankruptcy Court for the Northern District of New York to employ
SaxBST LLP as accountants to prepare its 2014 business income tax
return and provide services in connection with the audit of its
2014 financial statements, and other related services.

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

Joseph A. Torani, senior partner of SaxBST LLP, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

SaxBST LLP can be reached at:

       Joseph A. Torani
       SAXBST LLP
       26 Computer Drive West
       Albany, NY 12205
       Tel: (518) 459-6700
       Fax: (518) 459-8492
       E-mail: jtorani@saxbst.com

Plattsburgh Suites, LLC, filed for Chapter 11 protection (Bankr.
N.D.N.Y. Case No. 15-10077) in Albany, New York, on Jan. 16, 2015,
disclosing $32.06 million in liabilities.  The case is assigned to
Judge Robert E. Littlefield Jr.  The Debtor has tapped Richard L.
Weisz, Esq., at Hodgson Russ LLP, in Albany, New York, as counsel.


PLATTSBURGH SUITES: Taps E. Stewart as Litigation Counsel
---------------------------------------------------------
Plattsburgh Suites, LLC seeks authorization from the U.S.
Bankruptcy Court for the Northern District of New York to employ E.
Stewart Jones Hacker Murphy, LLP as litigation counsel for
representation in its tax certiorari proceedings pending against
the City of Plattsburgh, State of New York for the years 2010,
2011, 2012, 2013 and 2014.

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

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

E. Stewart can be reached at:

       Patrick L. Seely, Esq.
       E. STEWART JONES HACKER
       MURPHY, LLP
       7 Airport Park Blvd.
       Latham, NY 12110
       Tel: (518) 783-3843

Plattsburgh Suites, LLC, filed for Chapter 11 protection (Bankr.
N.D.N.Y. Case No. 15-10077) in Albany, New York, on Jan. 16, 2015,
disclosing $32.06 million in liabilities.  The case is assigned to
Judge Robert E. Littlefield Jr.  The Debtor has tapped Richard L.
Weisz, Esq., at Hodgson Russ LLP, in Albany, New York, as counsel.


PLY GEM HOLDINGS: Reports $12.5 Million Net Loss for 4th Quarter
----------------------------------------------------------------
Ply Gem Holdings, Inc., reported a net loss of $12.5 million on
$450.1 million of net sales for the three months ended Dec. 31,
2014, compared to a net loss of $17.4 million on $333 million of
net sales for the same period in 2013.

"The fourth quarter marks the third consecutive year over year
quarterly growth of Adjusted EBITDA," said Gary E. Robinette, Ply
Gem's president and CEO.  "Our growth accelerated during 2014,
despite a relatively flat U.S. housing market and considerable
commodity pricing and foreign exchange headwinds, as our pricing
actions in both our business segments and the strategic acquisition
of Simonton drove net sales growth of 14.7%.  Overall, we continue
to demonstrate improvement in our operating performance and remain
focused on our strategic priorities to drive profitable growth with
further gross profit improvements and increases in Adjusted EBITDA.
While near-term choppiness will be experienced in the market, we
remain encouraged by the macro-economic trends that continue to
support the long-term recovery of the housing industry.  With the
addition of Simonton and our progress on our strategic initiatives,
we are well positioned to take advantage of the housing market
rebound and recovery in residential new construction and remodeling
activity."

Commenting on the fourth quarter financial results, Shawn K. Poe,
Ply Gem's chief financial officer added, "In the fourth quarter, we
continued to report financial improvements within both of our
business segments.  Excluding the impact of acquisitions, our net
sales increased 11.2% and 8.7% for our Siding, Fencing and Stone
and Windows and Doors segments, respectively.  This resulted in
full year 2014 net sales increases of 3.3% and 5.0% for our Siding,
Fencing and Stone and Windows and Doors segments, respectively,
excluding the impact of acquisitions.  These net sales increases
contributed to full year gross profit increases and improved
earnings performance."

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

                         http://is.gd/R63zWy

                           About Ply Gem

Based in Cary, North Carolina, Ply Gem Holdings Inc. is a
diversified manufacturer of residential and commercial building
products, which are sold primarily in the United States and
Canada, and include a wide variety of products for the residential
and commercial construction, the do-it-yourself and the
professional remodeling and renovation markets.

Ply Gem Holdings reported a net loss of $79.5 million in 2013, a
net loss of $39.05 million in 2012 and a net loss of $84.5
million in 2011.

                           *     *     *

In May 2010, Standard & Poor's Ratings Services raised its
(unsolicited) corporate credit rating on Ply Gem to 'B-' from
'CCC+'.  "The ratings upgrade reflects our expectation that the
Company's credit measures are likely to improve modestly over the
next several quarters to levels that we would consider more in
line with the 'B-' corporate credit rating," said Standard &
Poor's credit analyst Tobias Crabtree.


QUANTUM FUEL: Incurs $4.3 Million Net Loss for Fourth Quarter
-------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., reported a net
loss of $4.28 million on $13.0 million of total revenues for the
three months ended Dec. 31, 2014, compared with a net loss of $6.04
million on $12.7 million of total revenues for the same period in
2013.

For the 12 months ended Dec. 31, 2014, the Company reported a net
loss of $14.9 million on $34.1 million of total revenue compared
with a net loss of $23.04 million on $31.9 million of total revenue
in 2013.

As of Dec. 31, 2014, the Company had $48.5 million in total assets,
$20.64 million in total liabilities, and $23.6 million in total
stockholders' equity.

"We were excited to close out the year with strong momentum, order
flow and an expanding customer base for our innovative and emerging
storage product offerings that demonstrates we are making
significant progress in implementing the shift to our systems based
strategy," said Brian Olson, president and CEO of Quantum.

"We are excited about moving this strategy forward into 2015 and,
as previously announced, we expect 2015 revenues to be 40 to 50
percent higher than 2014," continued Mr. Olson.

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

                        http://is.gd/Hoxhdf

                         About Quantum Fuel

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

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


QUARTZ HILL: Jacqueline Calderin and ECC Withdraw as Counsel
------------------------------------------------------------
U.S. Bankruptcy Judge A. Jay Cristol, in amended, corrected and
superseded order, authorized Jacqueline Calderin, Esq., and
Ehrenstein Charbonneau Calderin to withdraw as counsel of record
for Quartz Hill Mining, LLC and Superior Gold, LLC.  Ms. Calderin
and ECC are relieved of any and all obligations to represent or act
on behalf of Debtors in the matter.

                      About Quartz Hill

Quartz Hill Mining, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.Fla. Case No. 14-15419) on March 7,
2014.  The case was initially assigned to Judge Robert A. Mark,
but later transferred to Judge A. Jay Cristol's chambers.  The
Debtor is represented by Robert P. Charbonneau, Esq., and
Jacqueline Calderin, Esq., at Ehrenstein Charbonneau Calderin, in
Miami, Florida.  The Debtor's special counsel is John A. Moffa,
Esq., at Moffa & Bonacquisti, P.A., in Plantation, Florida.  The
Debtor said it has $58 million in assets and $7.5 million in debt.

Affiliate Superior Gold, LLC, also sought Chapter 11 protection.

The judge approved the joint administration of the two cases.


RADIOSHACK CORP: Creditors' Panel Hires Cooley LLP as Co-Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Radioshack
Corporation and its debtor-affiliates seek authorization from the
Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware to retain Cooley LLP as co-counsel to the
Committee, nunc pro tunc to Feb. 13, 2015.

The Committee selected Cooley to serve as its lead M&A counsel (in
a transactional capacity) and to advise the Committee on issues
involving vendors, landlords, tax, and general business and other
matters relating to Committee and case administration, while Quinn
was selected to be the Committee's co-counsel on issues involving
the Debtors' secured lenders and the Committee's investigation into
the Debtors' prepetition transactions.  The Committee requires, and
Quinn and Cooley have agreed, that they will not duplicate services
they will provide to the Committee and any time spent coordinating
among the two firms will be charged to the Debtors' estates at 50%
of each firm's rates.  Furthermore, the Committee established a
protocol (the "Protocol") which provides the framework for the
representation of the Committee by Quinn and Cooley.

Cooley will be paid at these hourly rates:

       Jay R. Indyke, Partner         $1,050
       Cathy Hershcopf, Partner       $950
       Richard S. Kanowitz, Partner   $950
       Seth Van Aalten, Associate     $755
       Michael Klein, Associate       $755
       Robert B. Winning, Associate   $655
       Jeremy Rothstein, Associate    $470
       Rebecca Goldstein, Paralegal   $300

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

Jay R. Indyke, member of Cooley, assured the Court that the firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

Cooley also intends to make a reasonable effort to comply with the
U.S. Trustee's requests for information and additional disclosures
as set forth in the Guidelines for Reviewing Applications for
Compensation and Reimbursement of Expenses Filed under 11 U.S.C.
section 330 by Attorneys in Larger Chapter 11 Cases Effective as of
Nov. 1, 2013 (the "Revised UST Guidelines"), both in connection
with this application and the interim and final fee applications to
be filed by Cooley in these chapter 11 cases.

The following is provided in response to the request for additional
information set forth in Paragraph D.1. of the Revised UST
Guidelines:

  -- Cooley said that any time spent coordinating efforts with
     Quinn will be billed at 50% of regular hourly rates.

  -- Cooley did not represent the Committee in the 12 months
     prepetition. Cooley has in the past represented, currently
     represents, and may represent in the future certain Committee

     members and/or their affiliates in their capacities as
     members of official committees in other chapter 11 cases.

  -- The Debtors approved Cooley's prospective budget and staffing

     plan for the period from Feb. 13, 2015 through May 31, 2015.

The Court for the District of Delaware will hold a hearing on the
application on March 26, 2015, at 9:30 a.m.  Objections, if any,
are due March 19, 2015, at 4:00 p.m.

Cooley can be reached at:

       Jay R. Indyke, Esq.
       COOLEY LLP
       1114 Avenue of the Americas
       New York, NY 01136
       Tel: (212) 479-6000
       E-mail: jindyke@cooley.com

                    About Radioshack Corporation

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

RadioShack Corporation and affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-10197) 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.

The Debtors disclosed total assets of $1.2 billion, versus total
debt 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: Hires DJM Realty as Real Estate Consultant
-----------------------------------------------------------
Radioshack Corporation and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ DJM Realty Services, LLC as real estate consultant and
advisor to the Debtors, nunc pro tunc to the Feb. 5, 2015 petition
date.

The Debtors require DJM Realty to:

   (a) meet with Debtors' representatives to ascertain the
       Debtors' goals, objectives and financial parameters;

   (b) negotiate the sale or other disposition of the Properties,
       including preparing and implementing a marketing plan and
       assisting the Debtors at any auctions of the Properties, if

       needed; and

   (c) report periodically to the Debtors regarding the status of
       negotiations.

In accordance with the terms of the Services Agreement, DJM Realty
will be paid as follows (the "Fee Structure"):

   -- For the closing of a transaction in which any Property is
      sold, leased or otherwise transferred to a third party
      (including the sale of so-called "Designation Rights" and
      sales to purchasers of substantially all the equity or
      assets of the Debtors), DJM Realty shall earn a fee in an
      amount equal to one percent of the full contract price (the
      "Gross Proceeds").  For any lease of a Property, DJM Realty
      shall earn a fee in an amount equal to one percent of base
      rent to be paid by the tenant during the initial term of the

      lease.  These fees are payable upon the closing of a sale or

      full execution and effectiveness of a lease as applicable.

   -- Notwithstanding the provision above:

      i. Fort Worth Properties.  DJM Realty's fee for any of the
         Fort Worth Properties shall be the amount equal to one
         percent of the entire Gross Proceeds, so long as the
         amount of the Gross Proceeds meets or exceeds the amount
         of the applicable Pending Offer.

     ii. Woodlands Property.  DJM Realty's fee for the Woodlands
         Property shall be equal to one percent of the portion (if

         any) of Gross Proceeds in excess of the amount of the
         Pending Offer.

   -- The Debtors shall reimburse DJM Realty for: (i) its
      reasonable marketing and out of pocket costs incurred in the

      provision of the Services, subject to a budget to be
      reasonably approved by the parties, not to exceed $60,000 in

      the aggregate; and (ii) its reasonable travel expenses,
      incurred in the provision of the Services, provided that the

      Debtors have pre-approved such travel expenses.  Any
      reimbursable expenses shall be paid within 10 business days
      after DJM Realty submits to the Debtors appropriate receipts

      for such expenses.

The term of the Services Agreement shall continue until 12 months
from Feb. 17, 2015.

Edward P. Zimmer, vice president of DJM Realty, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

DJM Realty can be reached at:

       Mark T. Dufton
       DJM REALTY SERVICES, LLC
       Suite 207
       100 Crossways Park Drive West
       Woodbury, NY 11797
       Tel: (617) 422-6224
       Fax: (617) 422-6222
       E-mail: mdufton@djmrealestate.com

                     About Radioshack Corporation

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

RadioShack Corporation and affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-10197) 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.

The Debtors disclosed total assets of $1.2 billion, versus total
debt 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: Says Equity Holders to Get Nothing
---------------------------------------------------
StreetInsider.com reports that RadioShack Corporation has
reiterated its belief that there will be no recovery for any equity
holder in the Company's Chapter 11 proceedings.

According to StreetInsider.com, RadioShack said it believes that
the claims of its secured and unsecured creditors will not be fully
satisfied, leading to the conclusion that RadioShack common stock
has no value.

                   About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile   

technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack Corporation and affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-10197) 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.

The Debtors disclosed total assets of $1.2 billion, versus total
debt 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: Says Stock Is Worthless
----------------------------------------
In light of the trading volume in its common stock at prices in
excess of $0.20 per share, RadioShack Corporation on March 12
reiterated its belief that there will be no recovery for any equity
holder in its pending Chapter 11 proceedings.

Equity holders of a company in Chapter 11 bankruptcy generally
receive value only if all claims of a company's secured and
unsecured creditors are fully satisfied.  RadioShack said it
believes that the claims of its secured and unsecured creditors
will not be fully satisfied, leading to the conclusion that
RadioShack common stock has no value.

                  About Radioshack Corporation

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

RadioShack Corporation and affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-10197) 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.

The Debtors disclosed total assets of $1.2 billion, versus total
debt 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: Taps KPMG LLP as Tax Advisor
---------------------------------------------
Radioshack Corporation and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ KPMG LLP as tax advisor to the Debtors, nunc pro tunc to the
Feb. 5, 2015 petition date.

KPMG will provide tax provision, tax compliance and tax consulting
services as KPMG and the Debtors shall deem appropriate and
feasible in order to advise the Debtors in the course of these
cases, including, but not limited to the following:

Tax Provision Services

   (a) assist in the review of necessary quarterly and year-end
       tax and financial information and schedules;

   (b) assist in the review of temporary and permanent
       differences;

   (c) assist in the review of preliminary income tax provision
       for Debtors' review and approval;

   (d) assist in the review of income tax related balance sheet
       accounts and footnote disclosures for management's review
       and approval; and

   (e) assist in the Debtors' efforts to work with its independent

       auditors to draft income tax provision work papers.

Tax Compliance Services

   (a) perform high-level review of transaction data contained in
       Debtors' consolidated 2014 Form 10-K and compare with draft

       tax elections, statements and disclosures prepared by the
       Debtors and included in the 2014 tax return;

   (b) perform a high-level review of the trail balances for legal

       entities within the consolidated group for items that may
       require disclosure with the 2014 consolidated federal
       income tax return;

   (c) consult with subject matter professionals regarding new tax
       developments relevant to the Debtors' industry that may
       affect Debtors' consolidated federal income tax return;

   (d) present to Debtors new tax developments for Debtors'
       consideration;

   (e) perform an analytical review of the 2013 and 2014 Schedule
       M-3 entries to identify any anomalies;

   (f) present to Debtors entries identified in connection with
       the analytical review;

   (g) review a comparison of the 2013 tax return with draft 2014
       tax return including elections, statements, and disclosures

       prepared by the Debtors;

   (h) identify any inconsistencies in the elections, statements,
       and disclosures, and gain an understanding of the reasons
       for the inconsistencies; and

   (i) review for reasonableness the Debtors' completed AICPA Form
       1120 checklist.

Tax Consulting Services

   (a) work to resolve Internal Revenue Service's ("IRS") current
       Income tax examination and appeals;

   (b) work with Debtors in their dealings with the IRS
       examination and appeals teams, and meet with team members
       as appropriate and necessary;

   (c) analysis of section 382 issues including: roll-forward of
       historical section 382 matters and section 382 issues
       arising in connection with the any proposed restructuring;
       analysis of "NUBIG/NUBIL" (including under Notice 2003-65);

       analysis under sections 382(l)(5) and (l)(6); and analysis
       of section 382 state tax jurisdictions;

   (d) analysis of RadioShack's tax attributes including net
       operating losses, credits, and tax basis in the stock of
       its subsidiaries;

   (e) analysis of the tax implication of various reorganization
       structures;
  
   (f) analysis of the deductibility of post-petition interest on  

       unsecured debt obligations;

   (g) analysis of the liabilities subject to compromise which
       could yield a tax deduction or cancellation of indebtedness

       income;

   (h) determination of the amount and location of any
       cancellation of indebtedness resulting from a
       restructuring;
   (i) determination of the amount of cancellation of indebtedness

       by entity that is attributable to liabilities that would
       have resulted in a deduction when paid;

   (j) analysis of Section 108(b)(5) and 1017(b)(3)(D) elections;

   (k) analysis of the tax implications of any internal RadioShack
       reorganizations and proposal of restructuring alternatives;

   (l) analysis of any bad debt and worthless stock deductions;

   (m) analysis of the tax implications related to the
       modification or settlement of any third party or
       intercompany debt;

   (n) analysis of the tax implications of any proposed
       reorganization/bankruptcy plan of reorganization;

   (o) track and analyze the bankruptcy schedule of tax
       liabilities and proof of claims, including those submitted
       by taxing authorities;

   (p) analysis of tax impact of any potential dispositions of
       assets in bankruptcy;

   (q) analysis of the transaction costs associated with any
       potential transactions, including implications of such
       costs if in bankruptcy;

   (r) analysis of tax implications of any potential
       merger/acquisition with third parties; and

   (s) analysis of the state tax impacts of the foregoing.

The Debtors have agreed to compensate KPMG for professional
services rendered at its normal and customary hourly rates, subject
to the reductions discussed below (the "Fee Structure").

The majority of fees to be charged in this engagement reflect a
reduction of approximately 40% from KPMG's normal and customary
rates, depending on the types of services to be rendered.

  Tax Provision, Tax Compliance                 Discounted
  and Tax Consulting Services                   Rate

  Partners                                      $615-$660
  Managing Directors                            $630
  Senior Managers                               $495-$600
  Managers                                      $405-$500
  Senior Associates                             $285-$400
  Tax Associates                                $240
  Staff                                         $210

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

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

KPMG can be reached at:

       Clifford M. Crockett
       KPMG LLP
       Suite 3100
       717 North Harwood Street
       Dallas, TX 75201-6585
       Tel: (214) 840-2000
       Fax: (214) 840-2297

                    About Radioshack Corporation

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

RadioShack Corporation and affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-10197) 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.

The Debtors disclosed total assets of $1.2 billion, versus total
debt 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.


RAPID AMERICAN: Hearing on Gilbert's Employment Set for March 17
----------------------------------------------------------------
U.S. Bankruptcy Judge Stuart Bernstein will hold a hearing on March
17 to consider the request to expand the scope of services to be
provided by Gilbert LLP.

The firm serves as special litigation counsel to Rapid-American
Corp.'s official committee of unsecured creditors and Lawrence
Fitzpatrick, who represents the company's future claimants.  

Last month, the committee and Mr. Fitzpatrick filed a joint motion
which, if granted, would allow the law firm to represent them in a
litigation they will be filing against insurers.  

Rapid-American consents to the relief sought in the joint motion,
according to its lawyer, Paul Singer, Esq., at Reed Smith LLP, in
New York.

                    About Rapid-American Corp.

Rapid-American Corp. filed for Chapter 11 bankruptcy protection in
Manhattan (Bankr. S.D.N.Y. Case No. 13-10687) on March 8, 2013, to
deal with debt related to asbestos personal-injury claims.

New York-based Rapid-American was formerly a holding company with
subsidiaries primarily engaged in retail sales and consumer
products and was never engaged in an asbestos business of any kind.
Through a series of merger transactions going back more than 45
years, Rapid has nevertheless incurred successor liability for
personal injury claims arising from plaintiffs' exposure to
asbestos-containing products sold by The Philip Carey Manufacturing
Company -- Old Carey -- as that entity existed prior to June 1,
1967.

Attorneys at Reed Smith LLP serve as counsel to the Debtor.

The Debtor disclosed assets in excess of $4,446,261 and unknown
liabilities.

The Official Committee of Unsecured Creditors retained Caplin &
Drysdale, Chartered, as counsel.

Young Conaway Stargatt & Taylor, LLP represents Lawrence
Fitzpatrick, the Future Claimants' Representative, as counsel.


REDPRAIRIE CORP: Bank Debt Trades at 2% Off
-------------------------------------------
Participations in a syndicated loan under RedPrairie Corp is a
borrower traded in the secondary market at 97.73
cents-on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.27 percentage points from the previous week, The Journal
relates.  RedPrairie Corp pays 500 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Dec. 12, 2018.
The bank debt carries Moody's B2 and Standard & Poor's B rating.
The loan is one of the biggest gainers and losers among 226 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



REED AND BARTON: Hires Keightley & Ashner as Special Counsel
------------------------------------------------------------
Reed and Barton Corporation seeks permission from the U.S.
Bankruptcy Court for the District of Massachusetts to employ
Keightley & Ashner LLP as special pension benefits counsel, nunc
pro tunc to the Feb. 17, 2015 petition date.

The Debtor proposes to engage Keightley & Ashner as special counsel
for matters relating to the Pension Matters, including, but not
limited to, the following:

   (a) assisting the Debtor with compliance requirements related
       to the Plan;

   (b) the termination process of the Plan; and

   (c) the evaluation and resolution of the claims the PBGC is
       expected to file in this chapter 11 case.

Keightley & Ashner's current hourly billing rates are from $660 to
$910 for attorneys and other professionals, and $250 for paralegals
and law clerks.

Keightley & Ashner will also be reimbursed for reasonable
out-of-pocket expenses incurred.

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

Keightley & Ashner can be reached at:

       Harold J. Ashner, Esq.
       KEIGHTLEY & ASHNER LLP
       700 12th Street, N.W., Suite 700
       Washington, D.C. 20005
       Tel: (202) 558-5147
       Fax: (202) 330-5490
       E-mail: haroldashner@keightleyashner.com

                       About Reed and Barton

Founded in 1824, Reed and Barton Corporation is a designer and
distributor of high quality silverware and tableware, along with
flatware, crystal drinkware, picture frames, ornaments, and baby
giftware.  Reed and Barton, which sells products with the Reed &
Barton, Lunt, R&B EveryDay, and Williamsburg brands, is based in
Taunton, Massachusetts.  The privately held company's stock is
owned by 28 record shareholders who either are descendants of Henry
Reed or trusts for their benefit.  Aside from selling its products
in department stores and TV shopping networks, the company has an
on-site factory store in Taunton and a showroom in Atlanta,
Georgia.

Reed and Barton sought Chapter 11 bankruptcy protection (Bankr. D.
Mass. Case No. 15-10534) in Boston, Massachusetts, on Feb. 17,
2015.  The case is assigned to Judge Henry J. Boroff.

The Debtor has tapped Holland & Knight, in Boston, as counsel;
Financo, LLC, as investment banker; and Verdolino & Lowey, P.C., as
accountant.

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


RESEARCH NOW: Moody's Says 'B2' CFR Unaffected by Debt Upsize
-------------------------------------------------------------
Moody's Investors Service said Research Now Group, Inc.'s ratings
(B2 LT CFR and B2-PD probability of Default Rating) remain
unchanged following the company's announcement that it is
increasing the size of its proposed first-lien senior secured bank
credit facility to $305 million from $290 million, and reducing the
size of Court Square Capital Partners' planned equity contribution.
The changes are modestly credit negative because they increase
debt, but do not affect Research Now's ratings because the
additional debt does not materially affect the company's leverage
or cash flow.

The principal methodology used in this rating was Business &
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.

Research Now Group, Inc., based in Plano, TX, enables customers to
conduct online and mobile surveys for research studies through its
several million active panelists who are enrolled as members of its
general and specialty survey panels.  Research Now is a market
leader in providing online and mobile survey-data collection,
processing, and reporting.  The company is being acquired by Court
Square Capital Partners from its current owners through a leveraged
buyout transaction. For the 12 months ended Sep. 30, 2014, Research
Now generated approximately $335 million in total revenues.


RETROPHIN INC: Reports $110.9 Million Net Loss for 2014
-------------------------------------------------------
Retrophin, Inc. filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $111
million on $28.2 million of net product sales for the year ended
Dec. 31, 2014, compared to a net loss of $34.6 million on $0 of net
product sales in 2013.

As of Dec. 31, 2014, Retrophin had $135 million in total assets,
$173 million in total liabilities, and a $37.3 million total
stockholders' deficit.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2014.  The accounting firm noted that the Company has suffered
recurring losses from operations, used significant amounts of cash
in its operations, and expects continuing future losses.  In
addition, at Dec. 31, 2014 the Company had deficiencies in working
capital and net assets of $70.2 million and $37.3 million,
respectively.  Finally, while the Company was in compliance with
its debt covenants at Dec. 31, 2014, it expects to not be in
compliance with these covenants in 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.

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

                         http://is.gd/VRGXVI

                Amends Form S-1 Registration Statement

Retrophin filed with the Securities and Exchange Commission an
amended Form S-3 registration statement relating to the offering of
securities having a proposed maximum aggregate offering price not
exceed $125 million.

In addition, PCOF 1, LLC, Athyrium Opportunities Fund (A) LP, and
Athyrium Opportunities Fund (B) LP, and any of their respective
pledgees, donees, transferees or other successors in interest, may
offer and sell up to (i) 762,500 warrants and (ii) up to 762,500
shares of the Company's common stock from time to time under this
prospectus and any prospectus supplement will be issued to the
selling securityholders only if and when they exercise the
Warrants.  The Company will not receive any proceeds from the sale
of the Warrants or common stock by the selling securityholders.

The Company's common stock is listed on The NASDAQ Global Market
under the symbol "RTRX."  On March 2, 2015, the closing price of
the Company's common stock on The NASDAQ Global Market was $14.21
per share.  As of that date, the aggregate market value of the
Company's outstanding common stock held by the Company's
non-affiliates was approximately $147.1 million.

A full-text copy of the amended prospectus is available at:

                        http://is.gd/YkThgV

                           About Retrophin

Retrophin, Inc., develops, acquires and commercializes therapies
for the treatment of serious, catastrophic or rare diseases.  The
Company offers Chenodal(R), a treatment for gallstones;
Vecamyl(R), a treatment for moderately severe to severe essential
hypertension and uncomplicated cases of malignant hypertension;
and Thiola, for the prevention of kidney stone formation in
patients with severe homozygous cystinuria.


REVEL AC: Judge Won't Approve $82-Mil. Sale to Glenn Straub's Firm
------------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Gloria M. Burns in New
Jersey refused to approve Revel AC Inc.'s $82 million sale to real
estate tycoon Glenn Straub's Polo North Country Club Inc., ruling
that she did not have jurisdiction to authorize the transaction
while parts of it were still pending appeal.

According to Law360, ruling from the bench in Camden, Judge Burns
said that while "the court agrees the sale of the Revel property
may be in the best interest of the estate," the law does not allow
her to enter a ruling.

Law360 said attorneys for both Revel and Straub contend that the
issues on appeal, dealing with whether certain tenants' leases are
effectively extinguished, are limited and don't extend to driving
matters such as the price of the transaction, but lawyers for the
tenants contend that it is the entire sale order that is being
reviewed and Judge Burns doesn't have the power to alter it until
that process is done.  The Revel side also made an impassioned plea
for the judge to rule in their favor, arguing that the clock is
ticking on the deal -- contemplated to close at the end of the
month -- with dire consequences if it falls through, Law360 said.

Tom Corrigan, writing for The Wall Street Journal, pointed out that
the revised sale deal represents a $13.4 million reduction from the
original $95 million purchase price.  WSJ also reported that Ramy
Ibrahim, Revel's investment banker, indicated that the casino
operator has received at least seven new inquiries from potential
bidders.  Among the most promising potential bidders is Los
Angeles-based developer Izek Shomof, who has toured Revel twice,
according to Mr. Ibrahim.

                          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.‏



RSI ASSOCIATES: Ch 11 Case Dismissed; Owner Admits to Forgery
-------------------------------------------------------------
Emma Nelson at Star Tribune reports that RSI Associates, Inc.'s
Chapter 11 bankruptcy case was dismissed on March 10, 2015,
following a request to either dismiss the case or convert it to one
under Chapter 7 liquidation.

Star Tribune relates that the Company was working on a riverfront
revitalization project in Hastings when the city staff got a tip
that they should check the bonds.  The Company's co-owner, Gerard
Roy, charged in February 2015 in Scott County with five counts of
forgery for allegedly fabricating surety bonds, consistently had
good references and the lowest bid, and it won him construction
contracts for public projects, from a Scott County regional park to
part of the Metro Transit Green Line.  

According to Star Tribune, Mr. Roy admitted that he fabricated
bonds, saying, "Due to my criminal record, I can't get performance
and payment bonds.  So I created my own."  Mr. Roy said he
fabricated bonds to get job contracts and provide work for people
he met in prison, the report adds.

Star Tribune states that investigations are underway, and there are
unfinished projects and people waiting to be paid.  Mr. Roy, if
convicted, could face decades in prison and tens of thousands of
dollars in fines, the report says.

RSI Associates, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. D. Minn. Case No. 15-30533) on Feb. 19, 2015.  Lynn J.D.
Wartchow, Esq., at Wartchow Law Office, LLC, served as the
Company's bankruptcy counsel.


SAGITTARIUS RESTAURANTS: Moody's Raises CFR to B2; Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service upgraded Sagittarius Restaurants LLC's
Corporate Family Rating (CFR) to B2 from Caa1 and its Probability
of Default Rating (PDR) to B3-PD from Caa1-PD.  In a related
action, Moody's upgraded the rating on the company's senior secured
first-lien bank facility (including a proposed incremental term
loan) to B1 from B2.  Proceeds from the $25.1 million proposed
add-on to the term loan, along with a $10 million draw on the
revolver and $91 million of new common equity from a syndicate led
by veteran restaurateur, Larry Levy ("LLI"), will be used to redeem
100% of the company's senior subordinated PIK notes and to pay
related fees and expenses ("Step One" of a planned business
combination).  Upon completion of Step One, and following an
expected equity repurchase by the new sponsor, LLI will hold a 46%
stake in Sagittarius and Larry Levy will become Board Chairman.
The rating outlook is stable.

These rating actions were taken:

   -- Corporate Family Rating upgraded to B2 from Caa1;

   -- Probability of Default Rating upgraded to B3-PD from Caa1-PD

   -- $40 million senior secured revolving credit facility
      upgraded to B1 (LGD2) from B2 (LGD3);

   -- $227.1 million senior secured first-lien bank facility
      upgraded to B1 (LGD2) from B2 (LGD3) (includes proposed
      $25.1 million incremental facility);

   -- Rating outlook changed to stable from positive

RATING RATIONALE

The upgrade to B2 reflects Sagittarius' improved pro forma debt
leverage of close to 5.6x and interest coverage of about 1.7x
following the expected repayment of approximately $110 million of
13% senior subordinated PIK notes, which compares with 6.5x and
1.2x, respectively, as of September 9, 2014 (all ratios incorporate
Moody's standard adjustments).  The note redemption will be
financed largely with proceeds from an equity investment by LLI.
The company is also experiencing consistent quarter-over-quarter
same-store sales growth as a result of operational improvements and
marketing initiatives.  This positive growth trend is contributing
to mid-double-digit margins and modest free cash flow generation.

The B2 CFR primarily reflects Sagittarius' elevated, albeit
improved pro forma 3Q14 debt/EBITDA, which Moody's projects will
improve to just below 5.0x over the next 12 to 18 months through
new store openings and continued operating improvements.  The
ratings also take into consideration the company's small revenue
base compared with many of its peers in the QSR and Fast Casual
dining segments.  In addition, the company has weak geographic
diversification relative to its larger, national/global
competitors, as two-thirds of its 547 company-owned and franchised
locations are concentrated within southern California.  Despite its
hybrid/"QSR+" branding, Sagittarius still faces competition from
the broader, fragmented QSR and Fast Casual segments, which will
require the company to constantly find innovative ways to drive
traffic.  Also factored into the rating is Sagittarius' current
private ownership and new incoming investor base, which present
some uncertainty regarding future financial policy.

Counterbalancing these risks is Sagittarius' recent strong
operating performance as measured by growth in same-store sales,
system-wide sales and average unit volume.  The success of the
company's store refresh program, new marketing initiatives and
strategic menu changes has led to sustained positive trends in
customer traffic and average check, resulting in healthy
double-digit EBITA margins.  The ratings also consider Del Taco's
brand recognition as a quality Mexican fast food concept, as well
as the industry experience and track record of the company's new
future owners and Board Chairman.

Sagittarius' pro forma capital structure will be 100% first-lien
senior secured, which results in the use of a higher (65%) family
recovery rate in Moody's Loss Given Default model and a one-notch
difference between the company's CFR and PDR.

Sagittarius has a good liquidity profile, supported by a cash
balance of $7 million as of Sept. 9, 2014, strong free cash flow
generation after maintenance capital expenditures, and a $40
million revolving credit facility due April 2018.  The company will
have pro forma availability of $13 million under the revolver after
accounting for $10 million of borrowings and about $17 million of
outstanding letters of credit.  Moody's projects free cash flow
generation of close to $13 million for FY15, but the company has
the ability to cut back on growth capex to build liquidity, if
necessary.  Aside from the revolver, Sagittarius has no significant
near-term debt maturities until October 2018 when its senior
secured term loan matures, providing some flexibility as the
company pursues growth opportunities.

The stable outlook reflects our expectation that Sagittarius will
maintain positive same-store sales growth and continue to grow
restaurant count.  Moody's also expect recent initiatives to
improve traffic and increase efficiency to continue to support
margin expansion and allow for debt reduction with free cash flow.

The ratings could be downgraded if the company experiences a
significant deceleration in comparable store sales or if it is
unable to meet Moody's expectations for deleveraging.  Debt/EBITDA
above 6.0x or EBITA/interest expense below 1.5x could result in
negative rating actions.  Also, ratings could come under pressure
as a result of deterioration in liquidity or aggressive financial
policies.

The ratings could be upgraded if the company generates strong
sustained same-store sales and revenue growth through further
market share gains and increased store count.  Debt/EBITDA
sustained below 5.0x and EBITA/interest expense above 2.5x could
lend support to an upgrade.  Ratings could also benefit from the
continued ability to pursue growth and efficiency initiatives while
maintaining strong operating margins and free cash flow
generation.

The principal methodology used in these ratings was Global
Restaurant Methodology 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.

Sagittarius Restaurants LLC, headquartered in Lake Forest,
California, operates and franchises Mexican quick service
restaurants ("QSRs") under the Del Taco brand name.  The company
has 304 company-operated and 243 franchised units in 16 states.
Sagittarius is owned by a consortium of private equity firms,
including Goldman Sachs Mezzanine Partners (55%), Leonard Green &
Partners (25%), and Charlesbank Capital Partners (18%).  An equity
investment by the new sponsor, LLI, will give it a significant
minority stake in the company, and existing shareholders will
maintain majority ownership.  Within 90 days of the completion of
the Step One transaction described above, a merger will commence,
whereby the company will be taken public and become the sole
subsidiary of Levy Acquisition Corp. ("LAC"), a publicly-traded
special purpose acquisition corporation.  At the closing of the
merger, LAC, LLI, the existing owners (incl. management), and
additional private placement shareholders expect to hold
approximately 40%, 39.5%, 11.2% and 9.3% of the company,
respectively, and the company will be re-named "Del Taco
Restaurants, Inc."  For the 12 months ended Sept. 9, 2014
Sagittarius generated $385 million in total revenues.


SAGITTARIUS RESTAURANTS: S&P Raises CCR to 'B+'; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services raised it corporate credit
rating on Lake Forest, Calif.-based Sagittarius Restaurants LLC to
'B+' from 'B'.  The outlook is stable.  At the same time, S&P
raised its issue-level rating on the company's senior credit
facilities to 'B+' from 'B'.  The '3' recovery rating is unchanged,
which indicates S&P's expectation for meaningful (50% to 70%)
recovery in the event of a payment default.  S&P's recovery
expectations are in the higher half of the 50% to 70% range.

"The upgrade of Sagittarius Restaurants reflects the meaningful
debt reduction as a result of the merger with LAC.  LAC is a
publicly traded blank check company and is headed by Chairman and
CEO, Larry Levy. Prior to the acquisition by LAC, Larry Levy’s
family along with other investors will invest $120 million of
common equity in Del Taco Holdings Inc, parent of Sagittarius
Restaurants LLC," said credit analyst Samantha Stone. "Sagittarius
plans to amend its first-lien term loan to increase borrowings by
$25.1 million.  Proceeds from the term loan upsize, revolver
borrowings, along with proceeds from the equity infusion will be
used repay $111 million of payment-in-kind (PIK) senior
subordinated notes, acquire $29 million of existing equity in
Sagittarius' parent, and pay related transaction fees."

The stable outlook on Sagittarius reflects S&P's expectation that
credit measures will remain commensurate with an "aggressive"
financial risk profile.

S&P believes the company will use free cash flows for debt
repayment, as it had done in the past, resulting in leverage under
5x by fiscal year-end 2015.  S&P also expects modest margin
expansion as restaurant initiatives more than offset higher labor
expenses and modest commodity cost inflation.

Downside scenario

S&P would consider a downgrade if operating performance is weaker
than expected because of heightened competition or
greater-than-anticipated cost inflation.  This could likely occur
if, for example, performance weakens due to commodity and labor
cost pressures that results in leverage of more than 5x on a
sustained basis.  A negative rating action could also occur if the
company increases debt to fund shareholder remuneration.

Upside scenario

An upgrade is unlikely to occur given S&P's assessment of the
company's business, which incorporates its exposure to volatile
commodity costs and inherent risks associated with its geographic
concentration on the West Coast.

Still, S&P could consider an upgrade in the longer term if the
company executes a prudent geographic expansion strategy that
results in leverage being sustained under 4x and S&P is comfortable
that debt-funded shareholder payments will not occur. Under this
scenario, S&P would likely revise the business risk profile to
"fair" and the financial risk profile to "significant".



SCIENTIFIC GAMES: Elects William Thompson as Director
-----------------------------------------------------
The Board of Directors of Scientific Games Corporation elected
William C. Thompson, Jr., as a director of the Company effective
March 5, 2015, according to a Form 8-K filed with the Securities
and Exchange Commission.

Mr. Thompson is the chief administrative officer and senior
managing director of Siebert Brandford Shank & Co., L.L.C., an
investment banking and financial services company.  Mr. Thompson
joined Siebert Brandford Shank & Co., L.L.C. in April 2010, having
previously served eight years as the comptroller for the City of
New York from January 2002 to December 2009.  Mr. Thompson serves
on the New York State Gaming Facility Location Board and as a
trustee Emeritus at Tufts University.

Mr. Thompson is eligible to participate in all compensation plans
applicable to non-employee members of the Board.  Upon joining the
Board, Mr. Thompson received stock options for 10,000 shares, which
have a four-year vesting schedule and an exercise price of $13.84
(the average of the high and low sales prices of the Company's
common stock on the trading day immediately prior to the date of
grant).  Mr. Thompson will receive an annual retainer of $75,000
for Board service, an annual retainer of $10,000 for each committee
on which he serves (or $15,000, in the case of Audit Committee
service), and an annual award of restricted stock units having a
grant date value of up to $160,000 and a four-year vesting schedule
(provided he satisfies the Board's attendance requirements).  Mr.
Thompson will serve on the Audit Committee of the Board.

                       About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/  

Scientific Games reported a net loss of $30.2 million in 2013, a
net loss of $62.6 million in 2012 and a net loss of $12.6 million
in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $4.03
billion in total assets, $3.93 billion in total liabilities and
$105.7 million in total stockholders' equity.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SCIENTIFIC GAMES: Reports $47.1 Million Net Loss for Fourth Quarter
-------------------------------------------------------------------
Scientific Games Corporation reported a net loss of $47.1 million
on $566 million of total revenue for the three months ended Dec.
31, 2014, compared to a net loss of $3.5 million on $401.9 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 $234.3 million on $1.78 billion of total revenue compared
to a net loss of $30.2 million on $1.09 billion of total revenue in
2013.

As of Dec. 31, 2014, Scientific Games had $9.99 billion in total
assets, $9.99 billion in total liabilities, and $3.9 million in
total stockholders' equity.

"With the combination of Scientific Games and Bally, we are focused
on becoming the partner of choice for gaming, lottery and
interactive customers," said president and chief executive officer
Gavin Isaacs.  "To this end, we plan to launch an exciting array of
new products across our Bally, WMS, Shuffle Master, Williams,
Barcrest and lottery brands throughout the world in 2015.  At the
same time, as we continue to invest in developing innovative new
products and services to help our customers grow their businesses,
we also are just as committed to quickly implement our integration
plans to realize targeted cost savings and generate growing free
cash flow."

Mr. Isaacs continued, "We believe that our planned new product and
service introductions will demonstrate that no other company can
match the breadth and depth of our differentiated solutions to
address the needs of gaming, lottery and interactive customers. The
diversity of our products and services and the scale of our
operations uniquely position Scientific Games to effectively serve
our customers and achieve long-term growth."

At Dec. 31, 2014, cash and cash equivalents were $172 million, an
increase of $18.1 million compared to Dec. 31, 2013.

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

                       http://is.gd/UPNjiM

                       About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/  

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SEADRILL LTD: Bank Debt Trades at 18% Off
-----------------------------------------
Participations in a syndicated loan under Seadrill Ltd is a
borrower traded in the secondary market at 82.33 cents-on-the-
dollar during the week ended Friday, March 13, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 1.13
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 226 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



SILVERADO STREET: Meeting of Creditors to Continue on April 14
--------------------------------------------------------------
The meeting of creditors of Silverado Street LLC will be continued
on April 14, at 10:00 a.m., according to a filing with the U.S.
Bankruptcy Court for the Southern District of California.

The meeting will be held at Emerald Plaza Building, Suite 660 (B),
Hearing Room B, 402 W. Broadway, in San Diego, California.

Meanwhile, the U.S. trustee overseeing Silverado's bankruptcy case
is opposing the company's request to allow Amr Al Jassim,
Kuwait-based owner and managing member of the company, to appear
and be examined at the meeting by video teleconferencing rather
than in person.

The Justice Department's bankruptcy watchdog said the company did
not give any good reason why its owner should not appear
personally.

Silverado defended its request, saying it will help the company
save significant time and money, according to court filings.

                      About Silverado Street

Silverado Street, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Cal. Case No. 14-09543) on Dec. 9, 2014, disclosing
$11.3 million in total liabilities and total assets of $21.8
million.  The petition was signed by Amr Aljassim as managing
member.  James Lee, Esq., at Legal Offices of James J. Lee, serves
as the Debtor's counsel.  Judge Christopher B. Latham presides over
the case.



SILVERADO STREET: US Trustee Unable to Form Creditors' Committee
----------------------------------------------------------------
The U.S. trustee overseeing the bankruptcy case of Silverado Street
LLC said it wasn't able to form a committee to represent the
company's unsecured creditors.

The Justice Department's bankruptcy watchdog said that based on the
company's schedules of assets and liabilities, an "insufficient
number of unsecured creditors exist."

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 Silverado Street

Silverado Street, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Cal. Case No. 14-09543) on Dec. 9, 2014, disclosing
$11.3 million in total liabilities and total assets of $21.8
million.  The petition was signed by Amr Aljassim as managing
member.  James Lee, Esq., at Legal Offices of James J. Lee, serves
as the Debtor's counsel.  Judge Christopher B. Latham presides over
the case.



SNEAKERS SPORTS: Restaurant to Be Sold in Foreclosure Auction
-------------------------------------------------------------
Mark Basch, writing for Jaxdailyrecord.com, reports that the
Sneakers Sports Grille on Point Meadows Drive, Jacksonville,
Florida, is scheduled to be sold in a foreclosure auction on April
8, 2015, in Duval County Circuit Court.

Jaxdailyrecord.com recalls that Sneakers Sports Grille obtained
bankruptcy court approval of its  reorganization plan in March 2013
and exited Chapter 11 bankruptcy.  CenterState Bank of Florida,
Sneakers Sports' largest creditor, filed in May 2014 a notice in
Bankruptcy Court accusing the restaurant of defaulting on the Plan
by not paying ad valorem real estate and tangible personal property
taxes that were due March 31, the report says.  The report states
that CenterState Bank then filed a foreclosure lawsuit in 2014,
claiming that the Sneakers Sports restaurant near the intersection
of Baymeadows Road and Interstate 95 violated its mortgage
agreement by not paying the taxes and asking for immediate payment
of the $3.3 million still owed on the loan.  

Circuit Judge Harvey Jay, according to Jaxdailyrecord.com, entered
a judgment of foreclosure against the owners in January 2015 and
ordered the restaurant to be sold in a public auction if $3.3
million is not repaid by April 8.  The report states that the court
order doesn't address unpaid property taxes.

Jaxdailyrecord.com relates that the Snearkers Sports restaurants in
Jacksonville Beach, which went through a separate Chapter 11
bankruptcy, is not affected by the foreclosure lawsuit.

Headquartered in Jacksonville Beach, Florida, Sneakers Sports
Grille Point Meadows, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. M.D. Fla. Case No. 12-00968) on Feb. 18, 2012,
listing $2,936,600 in scheduled assets and $5,253,503 in scheduled
liabilities.  Brett A. Mearkle, Esq., at the Law Office of Brett A.
Mearkle, PA, serves as the Company's bankruptcy counsel.  The
petition was signed by Nicholas D. Pratt, president.


SPIRIT REALTY: S&P Raises CCR to 'BB'; Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit on
Spirit Realty Capital Inc. to 'BB' from 'BB-'.  The outlook is
stable.

"The upgrade primarily reflects the company's successful
deleveraging efforts in recent years coupled with reduced exposure
to Spirit's largest tenant, Shopko," said credit analyst Jaime
Gitler.  "We expect Spirit will continue its aggressive investment
strategy but we believe it will finance this growth in a
leverage-friendly manner, which could result in further improvement
to the balance sheet."

The stable outlook reflects S&P's view that Spirit's same-store
portfolio will perform steadily.  S&P also expects the company will
remain acquisitive, but it expects that investment will be funded
with a significant equity component.  S&P expects that debt/EBITDA
will hover in the mid-7.0x area over the next two years and that
FCC will be in the low-2x range.

While S&P views this scenario as less likely, it could lower the
ratings if tenant distress causes the company's operating
performance to weaken such that debt to EBITDA increases to above
9.5x, FCC slips below 1.7x or if total coverage of the common
dividend falls below 1x.

S&P could raise the ratings if the company were to drive leverage
lower, perhaps as a result of equity funded growth beyond S&P's
base-case expectations, such that debt to EBITDA declines below
7.0x and FCC were to rise above 2.3x on a sustained basis.



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

    Debtor                                           Case No.
    ------                                           --------
    The Standard Register Company                    15-10541
       aka SMARTworks
       aka Standard Register
       aka Industramark
       aka WorkflowOne, LLC
       aka ParthForward
       aka WorkflowOne
       aka CopyConcepts
       aka Stanfast
       aka Expadata
       aka Wilmer
    600 Albany Street
    Dayton, OH 45417

    Standard Register Holding Company                15-10542
    Standard Register Technologies, Inc.             15-10543
    Standard Register International, Inc.            15-10544
    iMedconsent, LLC                                 15-10540
    Standard Register of Puerto Rico Inc.            15-10545
    Standard Register Mexico Holding Company         15-10546
    Standard Register Holding, S. de R.L. de C.V.    15-10547
    Standard Register de Mexico, S. de R.L. de C.V   15-10548
    Standard Register Servicios, S. de R.L. de C.V . 15-10549
    Standard Register Technologies Canada ULC        15-10550

Type of Business: The Standard General Company is one of the
                  leading providers in the United States of
                  communications services and communications
                  workflow, content and analytics solutions
                  through multiple communication channels,
                  including print, electronic, and internet-based
                  communications, to clients in the healthcare,
                  financial services, manufacturing, retail, and
                  transportation industries.

Chapter 11 Petition Date: March 12, 2015

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

Judge: Hon. Brendan Linehan Shannon

Debtors'              GIBSON, DUNN & CRUTCHER, LLP
General
Bankruptcy
Counsel:

Debtors' -Co-Counsel: Kara Hammond Coyle, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR LLP
                  Rodney Square
                  1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Email: kcoyle@ycst.com

                    - and -

                  Maris J. Kandestin, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR, LLP
                  Rodney Square
                  1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Email: mkandestin@ycst.com

                    - and -

                  Andrew L Magaziner, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR, LLP
                  Rodney Square
                  1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Email: amagaziner@ycst.com

                    - and -

                  Michael R. Nestor, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR
                  Rodney Square
                  1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Fax: 302-571-1253
                  Email: mnestor@ycst.com

Debtors'          DINSMORE & SHOHL LLP
Special
Corporate,
Litigation
and Conflicts
Counsel:

Debtors'          LAZARD FRERES & CO. LLC
Investment
Bankers and
Financial
Advisors:

Debtors'          MCKINSEY RECOVERY & TRANSFORMATION SERVICES
Financial         U.S. LLC
Advisors:

Debtors'          PRIME CLERK LLC
Claims and
Noticing
Agent:

Total Assets: $453.1 million

Total Debts: $583.5 million

The petition was signed by Joseph P. Morgan, Jr., president and
chief executive officer.

Consolidated List of Debtors' 50 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
The Pension Benefit Guaranty          Pension        $194,967,001
Corporation
Attn: Erin C. Kim
1200 K Street NW
Washington DC 20005-4026
Email: kim.erin@pbgc.gov
Fax: 202-326-4112
Tel: 202-326-4000

Timothy Webb                        Non-Qualified      $3,994,759
4906 E. Desert Fairways Dr.         Pension and
Paradise Valley AZ 85253            Deferred
                                    compensation

Georgia Pacific Corp                    Trade          $2,753,159
Attn: General Counsel
PO Box 0102412
Atlanta GA 30368-0412
Email: tdarland@gapac.com
Fax: 920-438-2121
Tel: 866-435-5647

Gary Becker                         Non-Qualified      $1,686,144
666 Barclay Lane                    Pension and
Broomall PA 19008                   Deferred
                                    Compensation

Salesforce Com Inc.                    Trade           $1,385,059
Attn: General Counsel
PO Box 203141
Dallas TX 75320-3141
Email: legal@salesforce.com
Fax: 415-536-4616
Tel: 800-667-6389

Michael Spaul                       Non-Qualified      $1,244,993
296 Carmarthen Way                  Pension and
Granville OH 43023                  Deferred
                                    Compensation

Volt Consulting                     Temporary          $1,174,933
Attn: General Counsel               Staffing
Two Tower Center Blvd
East Brunswick NJ 08816
Email:
info@voltconsultinggroup.com
Fax: 212-704-2413
Tel: 212-704-2400

Mark Platt                          Non-Qualified      $1,147,957
5048 James Hill Road                Pension and
Kettering OH 45429                  Deferred
                                    Compensation

Craig Stockmal                      Non-Qualified      $1,111,398
1 Huntington Ave                    Pension and
#1802                               Deferred
Boston MA 02116-0000                Compensation

Peter Redding                       Non-Qualified      $1,054,557
6470 Montreux Lane                  Pension and
Reno NV 89511                       Deferred
                                    Compensation

Washington State Department         Environmental      $1,010,302
of Ecology                          Liabilities
Attn: General Counsel
PO Box 47600
Olympia WA 98504-7600
Email:
maia.bellon@ecy.wa.gov
Fax: 360-407-6989
Tel: 360-407-6000

Westborough                         Lease Rejection      $930,905
Attention: Ms. Sam Ajanaku              Damages
The Realty Associates Fund IX
c/o Lincoln Property Company
67 South Bedford Street
Burlington MA 01803-0000
Email: sajanaku@lpc.com
Tel: 781-238-4488

Avery Dennison                           Trade           $820,182
Attn: General Counsel
15178 Collections CTR DR
Chicago IL 60693
Email: susan.miller@averydennison.com
Fax: 626-792-7312
Tel: 626-304-2000

Joseph Custer                         Non-Qualified      $734,005
Attn: General Counsel                 Pension
2285 Nyce Way                         Deferred
Lansdale PA 19446                     Compensation

Purchase Power                           Trade           $686,701
Attn: General Counsel
PO Box 856042
Louisville KY 40285

Bank of America                          Postal          $666,458
Attn: General Counsel                   Deposit
200 N College St
Charlotte NC 28255-0001
Email: i_r@bankrofamerica.com
Fax: 980-386-6699
Tel: 704-386-5000

Carolinas Shared Services            Customer Rebates    $646,458
(subgroup within Premier GPO)
Robert Boyd
5039 Airport Center Parkway
Building K Suite A
Charlotte NC 28208
Email:
Jim.Olsen@CarolinasSharedServices.org
Fax: 704-512-7037
Tel: 704-512-7271

Business Card Service                    Resell          $637,290
Attn: General Counsel
3200 143rd Circle
Burnsville MN 55306-6945
Email:
emily.myers@printforce.com
Fax: 952-894-5228
Tel: 952-895-6750

Appvion Inc.                             Trade           $581,759
Attn: General Counsel
PO Box 638565
Cincinnati OH 45263-8565
Email:
tvanstraten@appletonideas.com
Fax: 920-991-8852
Tel: 920-734-9841

John Harden                            Non-Qualified     $580,596
5390 Cold Springs Road South           Pension and
Concord NC 28025                       Deferred
                                       Compensation

Dennis Rediker                         Non-Qualified     $567,176
737 Lakengren Cove                     Pension and
Eaton OH 45320                         Deferred
                                       Compensation

Tenet (subgroup within                   Customer        $567,016
MedAssets GPO comprised of               Rebates
about 45 hospitals)
Richard Yonker
1445 Ross Avenue
Suite 1400
Dallas TX 75202
Tel: 469-893-2000

HP Enterprise Services LLC                Trade          $535,778
Attn: General Counsel
Hewlett Packard Express
PO Box 22160
Oakland CA 94623
Email:
enterprisesolutions@hp.com
Fax: 972-605-6033
Tel: 972-604-6000

Kathryn Lamme                         Non-Qualified      $521,435
885 Greenhouse Dr.                    Pension and
Kettering OH 45419                    Deferred
                                      Compensation

GLS Graphics Label Solutions            Resell           $517,733
Attn: General Counsel
2407 Pulaski Highway
Columbia TN 38401
Email:
customerservice@graphiclabesol
utions.com
Fax: 931-490-0024
Tel: 931-490-0019

Earth Color                             Resell           $499,407
Attn: General Counsel
7021 Portwest Drive Suite 190
Houston TX 77024
Email:
thebaultinfo@earthcolor.com
Fax: 973-952-8282
Tel: 973-884-1300

Precision Dynamics Corp.                Resell           $472,619
Attn: General Counsel
PO Box 71549
Chicago IL 60694-1995
Email:
info.pdchealthcare.com
Fax: 800-321-4409
Tel: 661-257-0233

Craig Brown                           Non-Qualified      $465,006
60 Royal Birkdale                     Pension and
Springboro OH 45066                   Deferred
                                      Compensation

Rajendra Mehta                        Non-Qualified      $434,507
220 Estates Dr                        Pension and
Dayton OH 45459                       Deferred
                                      Compensation

Virginia Rafferty                     Non-Qualified      $429,458
235 Bellewood Drive                   Pension and
Aiken SC 29803                        Deferred
                                      Compensation

Jack Marshall                         Non-Qualified      $412,496
470 Westwood                          Pension and
Barrington IL 60010                   Deferred
                                      Compensation

Unisource Worldwide Inc.              Trade              $408,590
Attn: General Counsel  
7575 Brewster
Philadelphia PA 19153
Fax: 201-440-5901
Tel: 770-447-9000

Michael Wolk                          Non-Qualified      $400,000
1246 Homestead Creek Dr               Pension and
Broadview Heights OH 44147            Deferred
                                      Compensation

Flexcon Company Inc.                   Trade             $356,533
Attn: Accounts Receivable
1 FLEXcon Industrial Park
Spencer, MA 01562-2642
Fax: (508) 885-8400
Tel: 508-885-8200

Edward Keiper                         Non-Qualified      $356,060
22706 Whiteoaks                       Pension and
Mission Viejo CA 92692                Deferred
                                      Compensation

Xpedx LLC                               Trade            $349,477
Attn: General Counsel  
6285 Tri-Ridge Blvd
Loveland OH 45140
Fax: 513-965-2849
Tel: 513-965-2900

Lithia Springs                        Lease Rejection    $343,995
Attn: Ericca Stokes                      Damages
3475 Piedmont Road
Suite 650
Atlanta GA 30305
Email: estokes@prologis.com
Tel: 404-760-7222

Novation GPO                            Customer         $337,906
Mitchell Shepherd                        Rebates
75 Remittance DR Ste 1420
Chicago IL 60675
Fax: 972-581-5013
Tel: 972-581-5000

Robert Assini                         Non-Qualified      $335,267
20 Rima Court                         Pension and
Danville CA 94526                     Deferred
                                      Compensation

Sanmar Corp.                             Trade           $329,632
Attn: General Counsel
PO Box 643693
Cincinnati OH 45264-3693
Email: sales@sanmar.com
Fax: 206-727-3203
Tel: 206-727-3200

Partners Healthcare                   Customer          $315,625
Peter Markell                          Rebates
529 Main Street
Charlestown MA 02129

Nevs Inks Inc.                          Resell          $305,969
Attn: General Counsel
2500 W Sunset Drive
Waukesha Wi 53189
Email: nevsink@nevsink.com
Fax: 262-548-0655
Tel: 800-638-7465

Source Technologies, Inc.               Resell          $289,108
Attn: General Counsel
4205B Westinghouse Commons Drive
Charlotte NC 28273
Email:
Kimberly@sourcetechnolgiesinc.com
Fax: 203-284-9389
Tel: 866-572-1806

Domtar Paper Co LLC                     Vendor          $281,565
Attn: General Counsel
8800 Sterling Street
Irving TX 75063-2535
Fax: 270-927-8714
Tel: 803-802-7500

Cass Information Systems              Shipping          $278,338
Attn: General Counsel
12444 Powerscourt Drive
Suite 550
St. Lous MO 63131
Fax: 314-506-5955
Tel: 314-506-5500

Dayton Mailing Services                Resell           $277,393
Attn: General Counsel
PO Box 2436
Dayton OH 45401
Email:
marketing@daytonmailing.com
Fax: 937-222-2696
Tel: 937-222-5056

Bruce Moses                         Non-Qualified       $276,515
620 Hospitality Dr                  Pension and
Rancho Mirage CA 92270              Deferred
                                    Compensation

Catholic Contracting Group (CCG)      Customer          $275,343
Attn: Mike Maguire                    Rebates
Premier Healthcare Alliance LP
13034 Ballantine Corporate Place
Charlotte NC 28277
Fax: 704-816-5092
Tel: 704-357-0022

Independent Printing Co Inc.            Resell          $267,672
Attn: General Counsel
1801 Lawrence Drive
PO Box 5790
De Pere WI 54115
Email: contactus@independentinc.com
Fax: 888-336-6118
Tel: 800-443-6771

Nissan Total                       Postal Deposit       $265,442
Attn: General Counsel
983 Nissan Drive
Syrna TN 37617-0003
Fax: 615-725-8535
Tel: 615-725-1000


STANDARD REGISTER: Could Sell Business to Silver Point for $275MM
-----------------------------------------------------------------
Tom Hals at Reuters reports that The Standard Register Company said
it plans to sell its business to its lender, Silver Point Capital
for $275 million, subject to higher offers at a court-supervised
auction.  The report says that proceeds of the sale will be used to
pay the Company's creditors.

Tristan Navera at Dayton Business Journal states that these are the
10 creditors that the Company owed the most:

      -- $195 million: Pension Benefit Guaranty Corp. of
         Washington DC (Pension);

      -- $2.7 million: Georgia Pacific Corp. of Atlanta (Trade);

      -- $1.3 million: Salesforce.com Inc. of Dallas (Trade);

      -- $1.2 million: Volt Consulting of East Brunswick, New
         Jersey (Temporary staffing);

      -- $1 million to Washington State Department of Ecology of
         Olympia, Washington (Environmental liabilities);

      -- $930,000 to Westborough of Burlington, Massachusetts     
         (Lease rejection damages);

      -- $820,000 to Avery Dennison of Chicago (Trade);

      -- $687,000 to Purchase Power of Louisville, Kentucky
         (Trade);

      -- $666,000 to Bank of America of Charlotte, North Carolina
         (Postal deposit); and

      -- $646,000 to Carolinas Shared Services, subgroup within
         Premier GPO of Charlotte North Carolina (Customer
         rebates).

Reuters relates that the Company's stock will likely be worthless
as a result of its bankruptcy, with its shares dropping 71% to 12
cents each on March 12, 2015.

According to Reuters, the Company got two offers for its business
before its bankruptcy -- Silver Point and an unnamed bidder.  

The Standard Register Company and its affiliates provide in the
U.S. communications services and communications workflow, content
and analytics solutions through multiple communication channels,
including print, electronic, and Internet-based communications, to
clients in the healthcare, financial services, manufacturing,
retail, and transportation industries.  The Companies have
operations in all U.S. states and Puerto Rico, and currently employ
approximately 3,500 full-time employees and 16 part-time
employees.

The Standard Register Company sought Chapter 11 protection (Bankr.
D. Del. Case No. 15-10541) on March 12, 2015, with plans to launch
a sale process where its largest secured lender would serve as
stalking horse bidder in an auction.  The Company has tapped Young
Conaway Stargatt & Taylor LLP as counsel, and Prime Clerk LLC as
claims agent.


STOCKTON, CA: Plan Approval Opinion Amended for Reserve Fund
------------------------------------------------------------
Chief Bankruptcy Judge Christopher M. Klein entered an amended
opinion regarding confirmation of The City of Stockton, Calif.'s
plan and the status of California Public Employees' Retirement
System (CalPERS).

This amended opinion results from the City's motion under
Fed. R. Civ. P. 52 (incorporated by Fed. R. Bankr. P. 7052) to
amend findings.  The changes, which are not material to the
decision to confirm the plan, place a finer point on the pencil
regarding Franklin High Yield Tax-Free Income Fund and Franklin
California High Yield Municipal Fund's recovery.  Franklin's
unsecured claim is $30,480,190.  The judicially-determined secured
claim is $4,052,000.00, which is being paid in full.  And, Franklin
receives $2,071,435 from a "Reserve Fund" funded by bond
proceeds and held by the indenture trustee under section 5.05 of
the bond indenture. While the parties differ about how to
characterize the Reserve Fund, they agree that Franklin ends up
with $6,123,435.15 (secured claim + Reserve Fund), plus nearly 1%
on its $30,480,190 unsecured claim.  Hence, Franklin's total
recovery from all sources is about 17.5% (not 12 96)

Judge Klein deems it not necessary to make a formal ruling about
the status of the Reserve Fund, albeit that the fact that the
Reserve Fund will be turned over to Franklin by the Indenture
Trustee is consistent with the bankruptcy concept of a secured
claim.  The order confirming the Plan is not affected.

The amended opinion reflects precise numbers regarding Franklin's
recovery and making minor editorial changes.

A copy of the Amended Opinion is available for free at:

                       http://is.gd/SM9YJp

Franklin has earlier filed a response to the City's motion stating
that it agrees that the Confirmation Order properly accounts for
Trustee-held reserve funds by reducing the allowed amount of
Franklin's unsecured claim.  The City, however, makes two
inaccurate assertions that do not follow from that fact.  It claims
that the reduction in Franklin's unsecured claim "means that the
Franklin secured claim increases from $4,052,000 to $6,123,435.15"
and that "[t]his raises Franklin's total recovery on its secured
and unsecured claims from approximately 12% to approximately
17.5%."

Franklin submits that neither assertion is correct.  The accounts
maintained by the Trustee were funded by Franklin with a portion
of the proceeds of Franklin's bonds.  Virtually all of the funds
held by the Trustee were deposited in the Reserve Account, the
sole purpose of which was to provide for payment of the bonds.  
The City cannot now and never could draw upon those funds, and it
accurately concedes that the reserve "could not be recovered by
the City, through bankruptcy or otherwise."

As a consequence, the reserve funds held by the Trustee do not
"increase" Franklin's secured claim.  They merely reduce the
City's total obligation to Franklin.  Thus, as both the Plan and
the Confirmation Order correctly provide, the allowed amount of
Franklin's secured claim is $4,052,000 and the allowed amount of
Franklin's unsecured claim is $30,480,190 – representing a total

claim of $34,532,190.

The Plan provides a recovery on Franklin's secured claim of
$4,052,000 and a recovery on Franklin's unsecured claim of
$285,227.52.  That is a total recovery of $4,337,227.52 on
Franklin's total allowed claim of $34,532,190.  Franklin's total
recovery from the City under the Plan therefore amounts to a
12.56% recovery on that allowed claim.  The City is not and cannot

accurately claim to be providing a 17.5% recovery as it now
asserts in the Motion.

Franklin is represented by:

         James O. Johnston, Esq.
         Joshua D. Morse, Esq.
         Jones Day
         555 South Flower Street, 50th Floor
         Los Angeles, CA 90071
         Tel: (213) 489-3939
         Fax: (213) 243-2539
         Email: jjohnston@jonesday.com
                jmorse@jonesday.com

The City of Stockton states that Franklin's response misstates the

nature of the reserve funds and attempts to suggest that the
approximately $2.1 million in funds (after payment of the
Trustee's fees) somehow belonged to Franklin all along.  This is
clearly not the case.  If it were, there would have been no need
for the Trustee to enter into a stipulation with the City for
relief from the automatic stay to apply a portion of the reserve
funds to the lease payments.  Moreover, the plain language of the
Indenture of Trust established as collateral in the event the bond

payments were not made.  As such, those funds are properly treated

as collateral for secured claims.

                     About Stockton, Calif.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.

Judge Klein, in late October 2014, confirmed the debt-adjustment
plan by the city of Stockton, rejecting arguments that it unfairly
discriminated among creditors by chopping a mutual fund's recovery
to near zero while shielding city retirees from any impairment at
all.

                       *     *     *

The Troubled Company Reporter, on Sep. 26, 2014, reported that
Moody's Investors Service has affirmed the long-term ratings of
the city of Stockton's (CA) water and sewer enterprises' debts at
Ba1. Moody's have also changed the outlook on the city's water
bond rating to developing from stable, while the developing
outlook on the sewer system's rating remains the same.

The TCR, on Nov. 10, 2014, reported that Moody's Investors Service
has upgraded to Ba3 from Caa3 the City of Stockton's (CA) series
2006 lease revenue bonds and affirmed the city's 2007 pension
obligation at Ca. Moody's have removed the developing outlook from
the Series 2006 bonds and Moody's have removed the negative
outlook from the Series 2007 bonds.

The TCR, on Nov. 14, 2014, reported that Standard & Poor's Ratings
Services raised its long-term rating and underlying rating (SPUR)
to 'B-' from 'CCC' on the Stockton Public Financing Authority,
Calif.'s series 2003A and 2003B certificates of participation
(COPs) and its SPUR to 'B-' from 'CCC' on the authority's series
2006A lease revenue refunding bonds.  Standard & Poor's also
affirmed its 'CC' SPUR on Stockton Redevelopment Agency's series
2004 (arena project) revenue bonds.  All series are appropriation
obligations of Stockton.  The outlook on the series 2003A and
2003B COP long-term rating and SPUR and on the 2006A lease revenue
refunding bond SPUR is stable, and the outlook on the series 2004
revenue bond rating (arena project) is negative.



SUNSET METAL: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                      Case No.
      ------                                      --------
      Sunset Metal Works, Inc.                    15-00962    
         aka SMW
      100 Sunset Boulevard West
      Chambersburg, PA 17202

      Sunset Industrial Applications, Inc.         15-00963
      100 Sunset Boulevard West
      Chambersburg, PA 17202

Chapter 11 Petition Date: March 12, 2015

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Harrisburg)

Judge: Hon. Mary D France

Debtors' Counsel: Robert E Chernicoff, Esq.
                  CUNNINGHAM, CHERNICOFF & WARSHAWSKY, PC
                  2320 North Second Street
                  Harrisburg, PA 17110
                  Tel: 717 238-6570
                  Fax: 717 238-4809
                  Email: rec@cclawpc.com

                                       Estimated   Estimated
                                        Assets    Liabilities
                                      ----------  -----------
Sunset Metal Works, Inc.              $1MM-$10MM   $1MM-$10MM
Sunset Industrial Applications        $1MM-$10MM   $1MM-$10MM

The petitions were signed by James B. Nicklas, president.

A list of Sunset Metal Works's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/pamb15-00962.pdf

A list of Sunset Industrial's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/pamb15-00963.pdf


TASC INC: Moody's Raises CFR to B2 Following Merger with Engility
-----------------------------------------------------------------
Moody's Investors Service has upgraded the first and second lien
debt ratings of TASC, Inc. following the merger with Engility that
closed on February 26.  This concludes the review for upgrade that
commenced on October 30th 2014.  TASC became a subsidiary of
Engility Holdings, Inc. upon close of the merger.

RATINGS RATIONALE

The improved first and second lien ratings reflect the better
credit profile with more revenue diversity, lower financial
leverage and higher interest coverage, resulting through the
merger.  The Ba3 first lien and Caa1 second lien ratings that were
assigned to the merger entity's incremental acquisition debts
continue unchanged.  TASC became an indirect subsidiary of Engility
Holdings, Inc. upon close of the merger.  Both TASC's and
Engility's operating subsidiaries guarantee and provide security to
the debts.

Rating Actions:

TASC, Inc.

-- Corporate Family Rating upgraded to B2, previously
    rated B3

-- Probability of Default Rating upgraded to B2-PD , previously
    rated B3-PD

-- Senior Secured Revolving Credit Facility upgraded to Ba3 LGD2,

    previously rated B1 LGD2

-- First lien Senior Secured Term Loan upgraded to Ba3 LGD2,
    previously rated B1 LGD2

-- Second lien debts upgraded to Caa1 LGD5, previously rated
    Caa2 LGD5

Rating outlook to Stable from Ratings Under Review

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 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.

Engility Holdings, Inc., headquartered in Chantilly VA, provides
systems engineering services, training, program management and
operational support through its subsidiaries for the U.S.
Government worldwide.  TASC, Inc. provides advanced systems
engineering and integration services to U.S.  Government
intelligence agencies, Department of Defense and various civil
agencies.  Annual revenues pro forma for the merger approximate $
2.5 billion.


TELEGRAPH TOWER: Case Summary & 22 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Telegraph Tower, LLC
        1224 South River Rd, Ste B-205
        St. George, UT 84790-8385

Case No.: 15-22065

Chapter 11 Petition Date: March 12, 2015

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

Judge: Hon. William T. Thurman

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

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jared Christiansen, manager/member.

A list of the Debtor's 22 largest unsecured creditors is available
for free at http://bankrupt.com/misc/utb15-22065.pdf


TENET HEALTHCARE: Names Tammy Romo to Board of Directors
--------------------------------------------------------
The board of directors of Tenet Healthcare Corporation has
appointed Tammy Romo, senior vice president of finance and chief
financial officer of Southwest Airlines Co., as a new independent
director.  Romo becomes the board's tenth member.  She will serve
on the Audit Committee and the Nominating and Corporate Governance
Committee.

Romo, 52, has served as senior vice president of finance and chief
financial officer of Southwest Airlines since September 2012.  She
is responsible for strategic planning and overall finance
activities at the company, including financial reporting,
accounting, investor relations, treasury, tax, and financial
planning and analysis.  Previously, she held a variety of financial
management and leadership positions at the company, including
senior vice president of planning, vice president and controller,
vice president and treasurer, and senior director of investor
relations.  Before joining Southwest Airlines in 1991, she was an
audit manager at Coopers & Lybrand, LLP.  Romo is currently a
member of the Accounting Advisory Council at the McCombs School of
Business at the University of Texas at Austin. She is also a
certified public accountant in the State of Texas.

"We are delighted to welcome Tammy to the Tenet board," said Edward
A. Kangas, Tenet's non-executive chairman.  "Tammy has a proven
track record established over more than two decades at Southwest
Airlines, an extremely well-regarded organization in a highly
regulated industry.  She brings a powerful combination of financial
acumen, investor perspective and leadership skills that will
benefit our entire board and management team."

Trevor Fetter, president and chief executive officer, said, "Tammy
is a strong addition to our talented and distinguished board.  In
addition to financial expertise, she offers experience gained as a
senior executive at one of the world's most innovative
consumer-oriented companies.  Her strategic insights will benefit
the board and management as we work to drive growth by delivering
greater value for healthcare consumers and payers."

                            About Tenet

Tenet Healthcare Corporation is a national, diversified healthcare
services company with 110,000 employees united around a common
mission: to help people live happier, healthier lives.  The company
operates 80 hospitals, 214 outpatient centers, six health plans and
Conifer Health Solutions, a leading provider of healthcare business
process services in the areas of revenue cycle management, value
based care and patient communications.  For more information,
please visit www.tenethealth.com.

Tenet Healthcare reported net income attributable to the Company's
shareholders of $12 million for the year ended Dec. 31, 2014,
compared to a net loss attributable to the Company's shareholders
of $134 million during the prior year.

As of Dec. 31, 2014, Tenet Healthcare had $18.1 billion in total
assets, $16.9 billion in total liabilities, $401 million in
redeemable non-controlling interest in equity of consolidated
subsidiaries, and $785 million in total equity.

                             *    *    *

Tenet carries a 'B' IDR from Fitch Ratings, 'B' corporate credit
rating from Standard & Poor's Ratings Services and 'B1' Corporate
Family Rating from Moody's Investors Service.


TERVITA CORP: Bank Debt Trades at 7% Off
----------------------------------------
Participations in a syndicated loan under which Tervita Corp is a
borrower traded in the secondary market at 93.46 cents-on-the-
dollar during the week ended Friday, March 13, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an decrease of 0.64
percentage points from the previous week, The Journal relates.
Tervita Corp pays 500 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Jan. 24, 2018.  The bank debt
carries Moody's B3 rating and S&P's B- rating.  The loan is one of
the biggest gainers and losers among 226 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.



THERAPEUTICSMD INC: Incurs $54.2 Million Net Loss for 2014
----------------------------------------------------------
TherapeuticsMD, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$54.2 million on $15.02 million of net revenues for the year ended
Dec. 31, 2014, compared with a net loss of $28.4 million on $8.77
million of net revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014 the Company had $59.07 million in total assets,
$10.69 million in total liabilities, all current, and $48.4 million
in total stockholders' equity.

The Company had cash and cash equivalents totaling $51.4 million as
of Dec. 31, 2014.  The Company holds its cash in money market funds
and the primary objective of its investment policy is to preserve
principal and maintain proper liquidity to meet operating needs.

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

                        http://is.gd/LK25iX

                        About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.


TMT PROCUREMENT: Court Amends Order on Sale Proceeds Application
----------------------------------------------------------------
The Bankruptcy Court entered an amended order in furtherance of its
oral order entered on Sept. 3, 2014, concerning TMT Procurement
Corporation, et al.'s application of certain excess vessel sale
proceeds.

The Court denied the motion with prejudice except that:

   1. Macquarie Bank is authorized and directed to turn over
$6,374,251 to the 345 account representing the final amount of
excess proceeds for the M.V.A. Ladybug, with such proceeds to be
treated in accordance with the order; provided Macquarie Bank may,
prior to remitting the funds, (i) pay directly to its counsel fees
and expenses of its counsel then owing by the Debtors in accordance
with the terms of the final DIP order; and (ii) return to Malta
counsel funds inadvertently remitted to Macquarie Bank and,
thereafter remit the balance remaining of the final amount to the
345 account;

   2. The DIP Debtors are authorized and directed to make the carve
out payment of $2,813,686 from excess proceeds in the 345 account;
and

   3. The excess proceeds comprising the carve out payment will not
be allocated as among the five relevant Debtors pending further
order of the Court, if any, except that pending such further order,
nothing will affect the allocation of the carve out to a Duckling
Corporation's excess proceeds.

As reported in the TCR on Sept. 8, 2014, pursuant to certain sale
orders, the relevant Vessel Debtors have consummated the sale of
these vessels: A Duckling, C Whale, B Max, A Handy, B Handy, C
Handy, B Whale, A Whale, D Whale, G Whale and H Whale.

Pursuant to certain lift stay orders, the relevant secured parties
and admiralty courts have sold A Ladybug, C Whale and E Whale.

Pursuant to the Relevant Sale Orders, the Debtors' amended omnibus
motion seeks approval of the proposed application of the Excess
Proceeds or, in the case of the A Duckling, the proposed revised
application as it relates to the Carve-Out Payment.

Where cash collateral has been used to pay or reserve for Vessel-
Specific Professional Fees or where the lenders have agreed to pay
out-of-pocket the Vessel-Specific Professional Fees, such Vessel-
Specific Professional Fees will remain subject to Court approval,
William A. (Trey) Wood III, Esq., at Bracewell & Giuliani LLP, in
Houston, Texas -- Trey.Wood@bgllp.com -- says.  He adds that to
the extent the Court disallows any Vessel-Specific Professional
Fees, the disallowed amount will, first, be credited against
future Vessel-Specific Professional Fees for the relevant Debtor;
second, be credited against future Non-Vessel Specific
Professional Fees; and third, if the disallowed amount exceeds
both, disgorged by the relevant professional after entry of the
orders approving final fee applications.

As of the filing of the Motion, the United States Court of Appeals
for the Fifth Circuit has not yet issued its decision in Case No.
13-20622.  Accordingly, (i) all Excess Proceeds deposited into the
345 Account, including the Synthetic Repayment, the Accrued Fees
Amount and the 345 Balance, for so long as those proceeds remain
in the 345 Account, and (ii) any amounts credited to Non-Vessel
Specific Professional Fees, will remain, at all times, fully
subject to the Proceeds Rights of the DIP Lender until the DIP
Obligations are paid indefeasibly in full in cash, Mr. Wood
asserts.

In addition, all Excess Proceeds deposited into the 345 Account,
including the Synthetic Repayment, the Accrued Fees Amount and the
345 Balance will also remain fully subject to the Proceeds Rights
of any other party-in-interest until the party-in-interest's
Proceeds Rights are extinguished by reason of repayment of the
underlying obligation or otherwise.

The Carve-Out Payment is being applied to Professional pursuant to
the payment and subordination provisions with respect to the
Carve-Out, whereupon the Carve-Out will be treated as paid in
full.  The Carve-Out Payments for each Relevant Debtor are pro
rata based on the Priority Payment Amounts for each Relevant
Debtor.

With respect to the proceeds from the sale of the A Duckling, the
Synthetic Repayments and Accrued Fees Amount, plus an additional
amount as the "Carve-Out Amount," were applied against the then-
Carve-Out in the total amount of $4,270,458, Mr. Wood notes.  He
asserts that so that the Carve-Out Payments for all Relevant
Debtors (including A Duckling Corporation) are fairly allocated
Pro Rata, the aggregate amount for the Carve-Out Payments has been
grossed up to the Carve-Out in the amount of $7,084,145, and then
allocated Pro Rata among all the Relevant Debtors.

                           About TMT Group

Known in the industry as TMT Group, TMT USA Shipmanagement LLC and
its affiliates own 17 vessels.  Vessels range in size from 27,000
dead weight tons (dwt) to 320,000 dwt.

TMT USA and 22 affiliates, including C. Ladybug Corporation,
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
13-33740) in Houston, Texas, on June 20, 2013 after lenders seized
seven vessels.

TMT filed a lawsuit in U.S. bankruptcy court aimed at forcing
creditors to release the vessels so they can return to generating
income.

TMT has tapped attorneys from Bracewell & Giuliani LLP as
bankruptcy counsel and AlixPartners as financial advisors.

On a consolidated basis, the Debtors have $1.52 billion in assets
and $1.46 billion in liabilities.



TMT PROCUREMENT: Parties Say Hsin and F3 Capital's Bid Malicious
----------------------------------------------------------------
Seward & Kissel LLP and the Official Committee of Unsecured
Creditors in the Chapter 11 cases of TMT Procurement Corporation,
et al., objected to Hsin Chi Su and F3 Capital's motion for Seward
& Kissel:

   1. to show cause why it should not be disqualified as counsel to
the Committee; and

   2. to immediately disgorge all fees paid to the firm.

S&K and the Committee avers that the motion:

   i) is an unwarranted and malicious attack on S&K, it
misrepresents the facts, including the record in the cases, and is
without legal support;

  ii) erroneously alleged that S&K has failed to disclose
connections to Oaktree Capital Management and NewLead Holdings,
Ltd., and belatedly disclosed a connection to Lakatamia Shipping
Co. Ltd.; and

iii) does not identify any actual failure by S&K to disclose under
Rule 2014, or any basis to impose the extreme sanctions of
disqualification and disgorgement of fees.

                         About TMT Group

Known in the industry as TMT Group, TMT USA Shipmanagement LLC and
its affiliates own 17 vessels.  Vessels range in size from 27,000
dead weight tons (dwt) to 320,000 dwt.

TMT USA and 22 affiliates, including C. Ladybug Corporation,
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
13-33740) in Houston, Texas, on June 20, 2013 after lenders seized
seven vessels.

TMT filed a lawsuit in U.S. bankruptcy court aimed at forcing
creditors to release the vessels so they can return to generating
income.

TMT has tapped attorneys from Bracewell & Giuliani LLP as
bankruptcy counsel and AlixPartners as financial advisors.

On a consolidated basis, the Debtors have $1.52 billion in assets
and $1.46 billion in liabilities.



TMT PROCUREMENT: Several Bankr. and District Court Orders Vacated
-----------------------------------------------------------------
U.S. Bankruptcy Judge Marvin Isgur vacated these orders issued by
the Bankruptcy Court and District Court:

   1. the interim order authorizing (i) postpetition secured
financing; and (ii) providing related relief issue at ECF No. 542;

   2. the addendum to interim order authorizing postpetition
secured financing and providing related relief issued at ECF No.
545;

   3. the order affirming share escrow issued at ECF No. 546
entered by the District Court;

   4. the final order authorizing (i) postpetition secured
financing; and (ii) providing related relief issue at ECF No. 699;
and

   5. the final order authorizing use of cash collateral and
granting adequate protection issued at ECF No. 700.

On Sept. 23, 2014, the U.S. Court of Appeals for the Fifth Circuit
issued per curiam opinion that detailed how the Court has erred in
issuing order that exercised control over Vantage Drilling Company
and over certain shares in Vantage Drilling.  

In this relation, each of the order was issued pursuant to the
Court's and District Court's determination that, among other
things, the F3-VTG Shares and addendum shares must be treated, in
certain respects, as property of the Debtors' estates.  The order
did multiple things that were permissible without respect to the
determination that F3-VTG and Addendum Shares were estate property.
The order also did impermissible things and thus were vacated.

A copy of the Order is available for free at

   http://bankrupt.com/misc/TMTUSA_2323_order_vacatingorders.pdf

                           About TMT Group

Known in the industry as TMT Group, TMT USA Shipmanagement LLC and
its affiliates own 17 vessels.  Vessels range in size from 27,000
dead weight tons (dwt) to 320,000 dwt.

TMT USA and 22 affiliates, including C. Ladybug Corporation, sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 13-33740) in
Houston, Texas, on June 20, 2013 after lenders seized
seven vessels.

TMT filed a lawsuit in U.S. bankruptcy court aimed at forcing
creditors to release the vessels so they can return to generating
income.

TMT has tapped attorneys from Bracewell & Giuliani LLP as
bankruptcy counsel and AlixPartners as financial advisors.

On a consolidated basis, the Debtors have $1.52 billion in assets
and $1.46 billion in liabilities.



TRADELINK TRANSPORT: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Tradelink Transport, Inc.
        19300 S. Alameda Street
        Compton, CA 90221

Case No.: 15-13740

Chapter 11 Petition Date: March 12, 2015

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Hon. Barry Russell

Debtor's Counsel: Vanessa M Haberbush, Esq.
                  HABERBUSH & ASSOCIATES LLP
                  444 W Ocean Blvd STe 1400
                  Long Beach, CA 90802
                  Tel: 562-435-3456
                  Fax: 562-435-6335
                  Email: vhaberbush@lbinsolvency.com

Estimated Assets:  $1 million to $10 million

Estimated Liabilities:  $1 million to $10 million

The petition was signed by Rigoberto Cea, president and CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacn15-13740.pdf


TRUMP ENTERTAINMENT: Delaware Judge Confirms Chapter 11 Plan
------------------------------------------------------------
Delaware Bankruptcy Judge Kevin Gross on March 12 confirmed Trump
Entertainment Resorts's bankruptcy-exit plan.

Peg Brickley, writing for The Wall Street Journal, reported that
the Company was cleared to exit bankruptcy proceedings, following a
series of deals with former foes, including Donald and Ivanka
Trump, who abandoned efforts to reclaim their brand.  WSJ noted,
however, that the Court's confirmation decision was not the last
word on the future of the casino company, which has been at odds
with the union representing more than 1,100 casino workers for much
of its stay under Chapter 11 protection.

Under the Plan, unsecured creditors will get a share of proceeds of
a trust funded with $3.5 million.  Mr. Icahn, who financed the
bankruptcy, will provide another $66.5 million in new loans to
launch Trump Entertainment out of Chapter 11.  Unsecured creditors
agreed to support the plan, after the pool of funds available to
them was increased from $1 million to $3.5 million, the report
added.

According to WSJ, before confirming the Chapter 11 plan, Judge
Gross required a sworn statement from a representative of Mr. Icahn
to the effect that the Trump Taj Mahal wasn't in danger of being
closed down.

According to WSJ, Unite Here Local 54 will march on Friday to
protest the loss of health-care and retirement rights allegedly at
the hands of its secured lender and new owner -- activist investor
Carl Icahn.  The planned protest will also be the latest in a
series of clashes between the union and Mr. Icahn, who has denied
harboring anti-worker bias. He says Trump Entertainment couldn't
survive unless it shook off medical and pension benefits. It was
the company, not its lender, that successfully petitioned to shake
off the benefits, he notes.

WSJ noted that a federal appeals court in Philadelphia has reviewed
the bankruptcy court order cutting off the health-care and pension
rights. If the union wins the appeal, Mr. Icahn has reserved the
right to refuse to implement the Chapter 11 plan.  There is no
indication when that appellate ruling will come. Meanwhile, the
Trump Taj Mahal casino will remain open and operating, poised to
implement the restructuring plan.

                About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2014.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $286 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien
debt issued under their 2010 bankruptcy-exit plan.  The Debtors
also
have trade debt in the amount of $13.5 million.

The Official Committee of Unsecured Creditors tapped Gibbons P.C.
as its co-counsel, the Law Office of Nathan A. Schultz, P.C., as
co-counsel, and PricewaterhouseCoopers LLP as its financial
advisor.


TRUMP ENTERTAINMENT: Taps Levine Staller as Tax Appellate Counsel
-----------------------------------------------------------------
Trump Entertainment Resorts, Inc. and its debtor-affiliates
recently filed papers seeking authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Levine,
Staller, Sklar, Chan & Brown, P.A. as real estate tax appellate
counsel to the debtors.

Levine Staller provides legal services to the Debtors in connection
with the 2014 real estate tax appeals relating to the Trump Taj
Mahal Casino Resort and the Trump Plaza Hotel and Casino (the "2014
Tax Appeals").  These services will involve representing the
Debtors in the 2014 Tax Appeals currently pending before The Tax
Court of New Jersey, and will include, at the Debtors' direction,
all legal services necessary in connection with the preparation and
prosecution of the appeals and, to the extent desirable, attempting
to negotiate a settlement on the Debtors' behalf with
representatives of the City of Atlantic.

Levine Staller will be paid at these hourly rates:

       Michael D. Sklar            $450
       Associates                  $300
       Paralegals                  $135

In addition to the hourly fees to be charged by Levine Staller,
under the Engagement Agreement, Levine Staller will be paid a
success fee (the "Success Fee") on the tax savings and interest, if
any, thereon realized by the Debtors (the "Tax Savings"),
calculated as follows:

   (a) Resolution on or prior to Sep. 15, 2015: 2.5% of the Tax
       Savings; provided however, that the Success Fee shall not
       exceed $475,000 in the aggregate;

   (b) Resolution after Sep. 15, 2015, but at least, 60 days prior

       to the first scheduled trial commencement date: 3.5% of the

       Tax Savings; provided however, that the Success Fee shall
       not exceed $575,000 in the aggregate;

   (c) Resolution after 60 days prior to the first scheduled trial

       commencement date: 4.5% of the Tax Savings; provided
       however, that the Success Free shall not exceed $650,000 in

       the aggregate; and

   (d) Payment of the Success Fee:  The Success Fee shall be due
       and payable within 60 days of entry of final judgment,
       whether as a result of a settlement or court judgment and
       regardless of whether the Tax Savings are received in cash,

       by way of credit against future tax payments, a reduction
       in tax assessment or otherwise, provided further however,
       that the Tax Savings are realized.

   (e) The Success Fee, if any, shall be calculated based on the
       aggregate Tax Savings arising from both the Trump Taj Mahal

       and the Trump Plaza.  In no event shall the Success Fee, in

       the aggregate for both the Trump Taj Mahal and the Trump
       Plaza, exceed the maximum amounts set forth above.

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

Levine Staller can be reached at:

       Michael D. Sklar, Esq.
       LEVINE, STALLER, SKLAR, CHAN & BROWN, P.A.
       3030 Atlantic Avenue
       Atlantic City, NJ 08401
       Fax: (609) 345-2473
       E-mail: msklar@levinestaller.com

                  About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on Sept.
9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2014.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $286 million in principal Plus
accrued but unpaid interest of $6.6 million under a first lien debt
issued under their 2010 bankruptcy-exit plan.  The Debtors also
have trade debt in the amount of $13.5 million.

The Official Committee of Unsecured Creditors tapped Gibbons P.C.
as its co-counsel, the Law Office of Nathan A. Schultz, P.C., as
co-counsel, and PricewaterhouseCoopers LLP as its financial
advisor.


TS EMPLOYMENT: Hires Tarter Krinsky as General Bankruptcy Counsel
-----------------------------------------------------------------
TS Employment, Inc. asks for permission from the Hon. Martin Glenn
of the U.S. Bankruptcy Court for the Southern District of New York
to employ Tarter Krinsky & Drogin LLP as general bankruptcy
counsel, nunc pro tunc to the Feb. 2, 2015 filing date.

The Debtor requires Tarter Krinsky to:

   (a) provide advice to the Debtor with respect to its powers and

       duties as a debtor in possession in its continued
       management of the Debtor's property;

   (b) negotiate with creditors of the Debtor in furtherance of a
       plan and to take the necessary legal steps in order to
       consummate a plan, including, if need be, negotiations in
       financing a plan;

   (c) prepare on behalf of the Debtor, necessary applications,
       answers, orders, reports and other legal papers;

   (d) appear before the Bankruptcy Judge and to represent and
       protect the interests of the Debtor before the Bankruptcy
       Judge in all pending matters;

   (e) perform all other legal services for the Debtor that may be

       necessary herein to preserve and protect the Debtor's
       business.

The Debtor requested that Tarter Krinsky be retained on a general
retainer basis in accordance with section 328(a) of the Code, with
compensation and reimbursement of expenses to be determined upon
proper application to this Court.

Scott S. Markowitz, member of Tarter Krinsky, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Tarter Krinsky can be reached at:

       Scott S. Markowitz, Esq.
       TARTER KRINSKY & DROGIN LLP
       1350 Broadway, 11th Floor
       New York, NY 10018
       Tel: (212) 216-8005
       Fax: (212) 216-8001
       E-mail: smarkowitz@tarterkrinsky.com

                         About TS Employment

Based in New York, TS Employment Inc. is a professional employer
organization that provides payroll-related services.  Its only
customer is publicly held Corporate Resource Services, Inc., a
diversified technology, staffing, recruiting, and consulting
services firm.  TS processes payroll of up to 30,000 employees.

TS Employment sought Chapter 11 for protection (Bankr. S.D.N.Y.
Case No. 15-10243) in Manhattan on Feb. 2, 2015.  Judge Martin
Glenn is assigned to the case.

The Debtor estimated at least $100 million in assets and debt.

The Debtor tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, in New York, as counsel.  Realization Services Inc.
serves as the Debtor's consultant.


ULTIMATE NUTRITION: Hires Epstein as Intellectual Property Counsel
------------------------------------------------------------------
Ultimate Nutrition, Inc. and Prostar, Inc. ask for authorization
from the U.S. Bankruptcy Court for the Disctrict of Connecticut to
employ Epstein Drangel LLP as its special intellectual property
counsel, nunc pro tunc to the Dec. 17, 2014 petition date.

It is anticipated that Epstein will clear, enforce, and maintain
Ultimate's rights in and to its intellectual property, with a
particular focus on Ultimate's trademarks.  Epstein's services will
include but are not limited to conducting trademark clearance
searches, filing trademark applications, prosecuting trademark
applications, filing trademark maintenance documents such as
renewals, drafting cease and desist letter, drafting and reviewing
contracts, and engaging in litigation to enforce Ultimate's rights.
Epstein's also utilizes a worldwide network of foreign associates
who perform these same services on Ultimate's behalf, given the
territorial nature of intellectual property.  It is necessary for
Epstein to hire attorneys in foreign jurisdictions to perform these
services.  The work by the professionals in the foreign
jurisdictions will be treated as a cost of Epstein since it is
Epstein that hires the other firms, not the Debtor.

Epstein will be paid at these hourly rates:

       Jason M. Drangel           $475
       William C. Wright          $450
       Kimberly A Klibert         $275

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

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

Epstein can be reached at:

       William C. Wright, Esq.
       EPSTEIN DRANGEL LLP
       One Grand Central Place
       60 East 42nd Street, Suite 2410
       New York, NY 10165
       Tel: (212) 292-5390
       E-mail: wwright@ipcounselors.com

                      About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that
time.

The company has two facilities located in Farmington, Connecticut,
one product distribution center in New Britain, Connecticut and a
research and development center in West Palm Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.

On Dec. 19, 2014, the Court entered an order directing the joint
administration of the Debtors' cases for procedural purposes.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition estimated $10 million to $50 million in assets
and debt.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.  The Committee has
selected Lowenstein Sandler, LLP, to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.


ULTIMATE NUTRITION: Hires Halloran & Sage as Employment Counsel
---------------------------------------------------------------
Ultimate Nutrition, Inc., et al., seek authorization from the U.S.
Bankruptcy Court for the District of Connecticut to employ Halloran
& Sage LLP as special labor and employment counsel, nunc pro tunc
to Dec. 17, 2014 petition date.

The Debtors require Halloran & Sage to represent the Debtors in
connection with all aspects of employment law including:
arbitrations, employment contracts, employee handbooks,
documentation and harassment cases, unemployment benefit matters,
wrongful discharge suits, possible union organizing campaigns,
federal, state and local prevailing wage issues, Federal and State
OSHA issues, audits of the Debtors' human resource functions,
training, discrimination and harassment policies, immigration forms
(Form I-9), COBRA requirements, OSHA compliance, "wage hour" and
"wage payment" compliance, leave of absence (FMLA) policies and
procedures, and related tasks.

The Debtors also propose to pay Halloran & Sage a post-petition
retainer in the amount of $10,000.  

No sums will be paid to Halloran & Sage until the Court has
reviewed an appropriate application for allowance of fees and
reimbursement of expenses pursuant to sections 330 and 331 of the
Bankruptcy Code, and only after notice and a hearing thereon.

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

Halloran & Sage can be reached at:

       Duncan Forsyth, Esq.
       HALLORAN & SAGE, LLP
       One Goodwin Square
       225 Asylum Street
       Hartford, CT 06103
       Tel: (860) 297-4696
       Fax: (860) 548-0006
       E-mail: forsyth@halloransage.com

                       About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that
time.

The company has two facilities located in Farmington, Connecticut,
one product distribution center in New Britain, Connecticut and a
research and development center in West Palm Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.

On Dec. 19, 2014, the Court entered an order directing the joint
administration of the Debtors' cases for procedural purposes.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition estimated $10 million to $50 million in assets
and debt.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.  The Committee has
selected Lowenstein Sandler, LLP, to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.


UNITED AMERICAN: Delays Filing of Sept. 30 Quarterly Report
-----------------------------------------------------------
United American Healthcare Corporation informed the Securities and
Exchange Commission it is not in a position to file its quarterly
report on Form 10-Q for the Company's period ended Sept. 30, 2014,
with the SEC because the Company cannot complete the Form 10-Q in a
timely manner without unreasonable effort or expense.

Based on work completed to date, the Company expects to file the
Form 10-Q on or before March 17, 2015.

                      About United American

Chicago-based United American Healthcare, through its wholly owned
subsidiary Pulse Systems, LLC, provides contract manufacturing
services to the medical device industry, with a focus on precision
laser-cutting capabilities and the processing of thin-wall tubular
metal components, sub-assemblies and implants, primarily in the
cardiovascular market.

The Company disclosed a net loss of $769,000 on $3.23 million of
contract manufacturing revenue for the six months ended Dec. 31,
2013, as compared with net income of $82,000 on $3.83 million of
contract manufacturing revenue for the same period in 2012.

Bravos & Associates, CPA's, in Bloomingdale, Illinois, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company's liabilities and working capital
raise substantial doubt about its ability to continue as a going
concern.

The Company's balance sheet at March 31, 2014, showed $14.95
million in total assets, $13.11 million in total liabilities and
$1.84 million in total shareholders' equity.


UNITED RENTALS: Moody's Rates New Sr. Secured Notes Ba1
-------------------------------------------------------
Moody's Investors Service rated United Rentals (North America),
Inc.'s (URI) proposed new Senior Secured Notes at Ba1 and Senior
Unsecured Notes at B1.  Concurrently, Moody's affirmed the Ba3
Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating
(PDR), SGL-2 Speculative Grade Liquidity Rating, the ratings on all
existing rated debt, and maintained the stable rating outlook.

Proceeds from the transaction, along with balance sheet cash and
revolver borrowings, are expected to refinance the Senior Secured
Notes due 2018, Senior Subordinated Notes due 2020, and pay related
fees and expenses.  The ratings on these instruments will be
withdrawn upon their refinancing.

RATINGS RATIONALE

The Ba3 CFR continues to reflect URI's strong national footprint in
the U.S., large scale relative to its competitors, as well as the
reputational and execution benefits this provides to better serve
large customers, procure equipment at more competitive prices, and
typically sells used equipment at premium prices because of its
equipment maintenance program.  Moreover, Moody's believes the slow
growth economy benefits URI in that it reduces equipment
manufacturers' pricing leverage and encourages contractors to rent
rather than purchase equipment.  These strengths are reflected in
URI's credit metrics which are strong at the Ba3 rating category,
with Debt / EBITDA and EBITDA to interest at 3.1 times and 4.7
times, respectively, at Dec. 31, 2014 (inclusive of Moody's
standard accounting adjustments).  In Moody's view, although its
exposure to oil and gas increased as a result of the April 2014
National Pump acquisition, the decline in oil prices is not
expected to meaningfully impact URI's operating results.

These positive attributes are weighed against URI's demonstrated
aggressive use of capital through share buybacks while maintaining
a very high capital expenditure program.  In January, the company
announced a $750 million share repurchase program (an increase from
its previous $500 million share repurchase program announced in
October 2013) demonstrating its willingness to direct cash
generation towards shareholders.  Moreover, the company has a
history of executing large debt financed acquisitions.

The SGL-2 Speculative Grade Liquidity rating reflecting a good
liquidity profile is supported by strong free cash flow generation
($524 million during 2014) and $158 million of cash balances at
December 31, 2014, and the extension of upcoming large debt
maturities through the refinancing transaction to 2020.
Availability under its $2.3 billion ABL revolving credit facility,
due in October 2016, is near $1 billion.

The ratings and/or outlook could be upgraded if the company were
expected to maintain positive free cash flow to debt after net
capital expenditures and other uses so as to allow for continued
deleveraging--specifically, debt to EBITDA below 3 times and EBIT
to interest trending to be above 2.75 times on a sustainable basis
(all numbers on a Moody's adjusted basis).  Positive traction could
be limited by future return of cash to shareholders via stock
repurchases depending on its impact on leverage.

The ratings could be adversely affected if debt to EBITDA were
expected to increase above 3.75 times and deteriorate further, EBIT
to interest to decrease below 1.5 times, and/or the company's
liquidity profile to weaken.  Ratings could also be adversely
impacted if sales and margins contracted thereby resulting in a
lower return on its expanded fleet.  Increased shareholder friendly
actions or a debt financed acquisition that resulted in higher
leverage could also pressure the rating.

Moody's affirmed these ratings:

Issuer: United Rentals (North America), Inc.

Corporate Family Rating, Ba3;
Probability of Default Rating, Ba3-PD;
Speculative Grade Liquidity Rating, SGL-2;
Senior Subordinated Regular Bond/Debenture Sep 15, 2020, B2
(LGD6);
Senior Unsecured Regular Bond/Debenture Jun 15, 2023, B1 (LGD4);
Senior Unsecured Regular Bond/Debenture Nov 15, 2024, B1 (LGD4);
Senior Unsecured Regular Bond/Debenture Jun 15, 2023, B1 (LGD4).
The outlook is stable.

Issuer: RSC Holdings III, LLC

Senior Unsecured Regular Bond/Debenture Feb 1, 2021, B1 (LGD4).

Issuer: UR Financing Escrow Corporation

Senior Secured Regular Bond/Debenture Jul 15, 2018, Ba1 (LGD2);
Senior Unsecured Regular Bond/Debenture May 15, 2020, B1 (LGD4);
Senior Unsecured Regular Bond/Debenture Apr 15, 2022, B1 (LGD4).

Moody's assigned the following ratings:

Issuer: United Rentals (North America), Inc.

Senior Secured Regular Bond/Debenture, Ba1 (LGD2)
Senior Unsecured Regular Bond/Debenture, B1 (LGD4)

The principal methodology used in these ratings was Equipment and
Transportation Rental 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.

United Rentals, headquartered in Stamford, CT, is an equipment
rental company with a fleet of approximately 430,000 units and over
880 rental locations across the US and Canada.  The company
operates in two business segments.  Its General Rentals segment
provides construction, industrial and homeowner equipment; its
Trench Safety, Power & HVAC, and Pump Solutions segment provides
equipment for underground construction, temporary power, climate
control and disaster recovery, and pumps largely for the oil and
gas sector.  While the primary source of revenue is from renting
equipment, the company also sells equipment and related parts and
services.  Revenues generated during 2014 were approximately $5.7
billion.


UNITED RENTALS: S&P Rates Proposed $1BB Sr. Secured Notes 'BB+'
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' issue-level
rating (with a recovery rating of '1') to the proposed $1 billion
senior secured notes due 2023 and its 'BB-' issue-level rating
(with a recovery rating of '4') to the proposed $800 million senior
unsecured notes due 2025 to be issued by United Rentals (North
America) Inc. (URNA), a subsidiary of United Rentals Inc. (URI).
URI is the guarantor of the notes.  The rating on the proposed
senior secured notes is two notches above the corporate credit
ratings on United Rentals (North America) and URI.  The rating on
the senior unsecured notes is the same as S&P's corporate credit
ratings on United Rentals (North America) and URI.

The '1' recovery rating on the proposed senior secured notes
indicates S&P's expectation of a very high (90% to 100%) recovery
in the event of a default scenario.  The '4' recovery rating on the
proposed notes indicates S&P's expectation of an average (30% to
50%; lower half of the range) recovery in the default scenario. S&P
expects the company to use the proceeds from the new notes to
refinance existing debt, reduce drawings on its $2.3 billion
asset-based revolving credit (ABL) facility, and pay call premiums,
fees, and expenses.  The issue-level ratings and recovery ratings
on the company's existing debt remain unchanged.

The existing ratings on URNA and URI, including the 'BB-' long-term
corporate credit rating, are unchanged.  The outlook is stable.

Recovery analysis

   -- The secured notes will have a second-lien on the domestic
      assets securing URI's ABL facility.  Collateral covers
      substantially all assets of the U.S. subsidiaries, other
      than real property and accounts receivable sold to a special

      purpose entity (SPE) under its $550 million receivable
      securitization facility.  ABL draws by foreign subsidiaries
      have additional guarantees and collateral.

   -- URI operates in the competitive and cyclical construction
      equipment rental market.  S&P's simulated default
      contemplates an unexpected and drastic downturn in the
      nonresidential construction that severely strains equipment
      usage, rental rates, revenue, and cash flow.  S&P assumes
      that the ABL facility is 60% drawn at default.

   -- Although S&P believes that URI would likely reorganize after

      a default, it uses a discrete asset value (DAV) approach to
      analyze recovery prospects for all general equipment rental
      firms.  S&P believes this method provides a conservative
      estimate of the likely value available to creditors,
      although realization rates could be lower than S&P assumes
      if a large quantity of equipment floods the market.

   -- S&P's DAV starts with URI's net book values as of Dec. 31,
      2014, and assume realization rates of 75% for rental
      equipment, 50% for other property and nonrental equipment
      (not collateral), 50% for inventory, and 80% for unsold
      accounts receivable. (S&P excludes the assets and
      liabilities related to URI's accounts-receivable special-
      purpose entity).  S&P further assumes that URI spends about
      $140 million in its undrawn ABL capacity to buy additional
      equipment and that all balance sheet accounts contract 15%
      prior to default due to cyclical and competitive pressure.

   -- S&P notes that its estimated collateral coverage for the
      secured notes is significant, but that unsecured recoveries
      are relatively sensitive to a modest decrease in valuation
      or increase in higher priority claims.

Simulated default and valuation assumptions

   -- Simulated year of default: 2019

Simplified waterfall

   -- Net EV: $4,260 mil.
   -- Valuation split % (U.S./non-U.S.): 87/13
   -- Collateral/noncollateral split: 84/16
   -- Priority claims (capital leases): $105 mil.
   -- Collateral value available to secured creditors: $3,470 mil.
   -- ABL claim estimate (60% utilization): $1,418 mil.
   -- Collateral value available to secured noteholders:
      $2,052 mil.
   -- Secured second-lien notes: $1,025 mil.
   -- Recovery expectations: 90% to 100%
   -- Total value available to unsecured claims: $1,712 mil.
   -- Senior unsecured debt and pari passu claims: $4,710 mil.
   -- Recovery expectations: 30% to 50% (lower half of the range)

Notes: All debt amounts above include six months of prepetition
interest.  S&P's ecovery analysis excludes assets and liabilities
associated with URI's $550 million asset securitization facility
which are at a nonrecourse, bankruptcy-remote subsidiary.  S&P
assumes there are no material non-debt unsecured claims.  The
difference between splits in U.S./non-U.S. value and collateral/
non-collateral primarily reflects the lack of a security interest
in non-rental property and equipment.

RATINGS LIST

United Rentals (North America) Inc.
Corporate Credit Rating                     BB-/Stable/--

New Rating

United Rentals (North America) Inc.
$1 Bil. Senior Secured Notes Due 2023*      BB+
   Recovery Rating                           1
$800 Mil. Senior Unsecured Notes Due 2025*  BB-
   Recovery Rating                           4L

*United Rentals Inc. is guarantor.



VANTAGE DRILLING: 2017 Bank Debt Trades at 28% Off
--------------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 72.85
cents-on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.75 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 226
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.



VANTAGE DRILLING: 2019 Bank Debt Trades at 40% Off
--------------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 59.90
cents-on-the-dollar during the week ended Friday, March 13, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
1.16 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 April 4, 2019, 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 226
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.



VARIANT HOLDING: Has Until Aug. 25 to File Reorganization Plan
--------------------------------------------------------------
Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware further extended through and including Aug.
25, 2015, the period during which no party, other than Variant
Holding Company, LLC, may file any plan of reorganization, and
through and including Oct. 26, 2015, the period during which only
the Debtor may solicit acceptances of the plan.

In support of the extension request, Richard M. Pachulski, Esq., at
Pachulski Stang Ziehl & Jones LLP, in Wilmington, Delaware, told
the Court that the Debtor requires additional time to propose a
plan because any plan in the Debtor's case will be based on value
to be derived from the Debtor's subsidiary assets.  The Debtor is
still currently in the process of marketing those assets for sale,
Mr. Pachulski said.  Once value is realized from the Debtor's
subsidiaries, the Debtor will be in a position to propose a plan,
the Debtor's counsel added.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.


VIAWEST INC: Moody's Assigns B2 Rating on New $375MM Term Loan B
----------------------------------------------------------------
Moody's Investors Service assigned B2 ratings to ViaWest, Inc.'s
new $375 million term loan B and $75 million senior secured
revolving credit facilities.  Since the catalyst for the rating
action is a refinance that does not materially affect relationships
of debt or interest expense with cash flow, the transaction has no
ratings implications and the new debt instruments are rated at the
same ratings levels as the instruments they will replace.
Additionally, Moodys affirmed the company's B2 corporate family
rating, revised its probability of default rating to B2-PD from
B3-PD and maintained the stable outlook.

The probability of default revision relates to Shaw Communications
Inc.'s (Shaw, Baa3 stable) ownership of ViaWest and related equity
cure provisions for financial covenants.  Since the contemplated
arrangements significantly reduce the affect of the financial
covenant in considering default and recovery, Moody's has reverted
to its standard loss given default assumption, implying that the
CFR and PD are now aligned.

Ratings for the company's existing credit facilities will be
withdrawn in due course following completion of the refinance
transaction.

The rating presumes that the final structure and documentation of
the transaction conforms with preliminary materials, including
financial information, provided to Moody's.

These summarizes Moody's ratings and the rating actions for
ViaWest:

Assignments:

Issuer: ViaWest, Inc.

Senior Secured Bank Credit Facility, Assigned B2 (LGD4)

Upgrades:

Issuer: ViaWest, Inc.

Probability of Default Rating, Upgraded from B3-PD to B2-PD

Affirmations:

Issuer: ViaWest, Inc.

Corporate Family Rating, Affirmed at B2
Senior Secured Bank Credit Facility, Affirmed at B2 (LGD3)
(to be withdrawn in due course)

Outlook Actions:

Outlook, Maintained at Stable

RATINGS RATIONALE

ViaWest's B2 corporate family rating reflects its weak free cash
flow profile and high capital intensity, which could require the
company to continue to take on additional debt.  The company's
relationship with its parent, Shaw Communications Inc., a major
Canadian broadband communications company, negates concerns with
respect to ViaWest's ongoing negative cash flow in the context of
the company's relatively small scale.  While Shaw is not obligated
to fund ViaWest, its sponsorship is an important consideration.
Viawest's stable base of contracted recurring revenues, its
position in smaller markets with less intense competitive dynamics,
and the currently strong market demand for colocation services are
credit-positive considerations.

Rating Outlook

The stable outlook reflects Moody's view that ViaWest will continue
to maintain strong revenue and EBITDA growth over the next 12 to 18
months while maintaining adequate liquidity.

What Could Change the Rating - Up

Positive ratings pressure would develop if:

   -- Underlying business conditions are favorable, and
   -- The company is effectively executing its strategic plans,
      and
   -- Showing strong and sustainable operational performance, and
      Moody's were to expect:
   -- Debt-to-EBITDA of less than 4.0x, and
   -- Free cash flow to debt above 10%, both on a sustained basis

What Could Change the Rating - Down

Alternatively, negative ratings actions could result if:

   -- Business conditions are expected to be weak for a prolonged
      period,
   -- If liquidity becomes strained,
   -- If revenue growth does not accelerate, or
   -- If Moody's adjusted leverage is not on track to fall towards

      5x by early 2016.

The principal methodology used in these ratings was Global
Communications Infrastructure Rating Methodology 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.

Company Profile:

Headquartered in Greenwood Village, Colorado, ViaWest, an indirect,
private, wholly-owned subsidiary of Shaw, is a provider of data
center and managed services.  The company currently operates in 8
markets across the United States.



VIAWEST INC: S&P Affirms 'B+' Corp. Credit Rating
-------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Denver-based ViaWest Inc. and assigned a
'B+' corporate credit rating to Shaw Data Centre LP.  The outlook
is stable.

At the same time, S&P assigned its 'B+' issue-level rating and '3'
recovery rating to ViaWest Inc.'s proposed $450 million senior
secured credit facilities.  ViaWest will issue the proposed $75
million revolving credit facility due 2020 and Shaw Data Centre LP
will issue the $375 million term loan due 2022.  The '3' recovery
rating indicates S&P's expectation for meaningful (50% to 70%;
lower half of the range) recovery in the event of a payment
default.

"The ratings affirmation reflects our view that the company's
proposed refinancing will not affect key credit measures
meaningfully, including pro forma adjusted leverage, which we
expect will be in the high-4x area," said Standard & Poor's credit
analyst Scott Tan.

Although S&P expects leverage to decline modestly to the mid-4x
area over the next few years because of EBITDA growth, S&P believes
ongoing capital spending requirements will constrain the company's
ability to generate positive FOCF in the near term.

The stable outlook reflects S&P's view that ongoing capital
expenditures from expansion activity will impair the company's
ability to generate positive FOCF over the next few years, though
growing demand for data center services from increased IT
outsourcing should result in continued revenue growth and
improvements in EBITDA, allowing only modest leverage improvement.

A rating downgrade would likely result from a debt-funded expansion
or material degradation in the business from contract re-pricing
and higher churn, resulting in leverage sustained above 7.5x.

An upgrade is unlikely in the near term as it would require an
assessment that parent company Shaw Communications Inc.'s financial
policies would support improved credit quality, including positive
FOCF and leverage reduction to the mid-4x area on a sustained
basis.



VISION VENTURES: Files for Ch. 11 to Dodge Foreclosure Sale
-----------------------------------------------------------
Vision Ventures LLC filed for Chapter 11 bankruptcy protection on
March 11, 2015, to stop a foreclosure sale of its property at 17655
Wild Horse Creek Road, Missouri, Jacob Kirn at St. Louis Business
Journal reports, citing Bryan C. Bacon, Esq., at Evans & Dixon LLC,
the attorney for Rodney Henry, the Company's principal.

Business Journal relates that the Company listed assets of $1
million to $10 million and liabilities of $1 million to $10
million.

According to Business Journal, Mr. Bacon said that the Company
plans to refinance a roughly $1.2 million loan with Providence Bank
that matured in 2014 and move forward with the project.

Mr. Bacon can be reached at:

      EVANS & DIXON LLC
      501 West Cherry Street
      Suite 200
      Columbia, MO 65201
      Tel: (573)607-1013 (Direct)
           (573)777-8823 (Main)
      Fax: (314) 884-4543
      E-mail: bbacon@evans-dixon.com

Vision Ventures LLC, whose principal is Rodney Henry, is a
corporation that has been looking to develop an assisted- and
independent-living facility in Chesterfield, Missouri.


WABASH NATIONAL: Moody's Raises CFR to Ba3; Outlook Remains Stable
------------------------------------------------------------------
Moody's Investors Service upgraded the ratings of Wabash National
Corporation, including the Corporate Family Rating ("CFR") to Ba3
from B1.  Moody's also assigned a Ba3 rating to the new $192.8
million senior secured term facility due 2022 that the company is
arranging.  The proceeds of the new facility will be used to repay
in full the outstanding balance of the company's existing senior
secured facility, which matures in 2019.  The liquidity rating of
Wabash was upgraded to SGL-1 from SGL-2.  The rating outlook
remains stable.

RATINGS RATIONALE

The Ba3 CFR of Wabash takes into account the company's leading
market position in the truck trailer manufacturing market, its
ability to generate strong cash flows and the company's prudent
financial management which has helped to strengthen its ability to
contend with the severe cyclicality in the demand for trailers.

Moody's considers the severe industry cyclicality the principal
risk that the company faces.  At the same time, margins in the
Commercial Trailer Products segment, which accounts for two thirds
of the company's revenues, are thin, which does not provide much
cushion in the event of sudden weakness in the demand for the
company's products.  Moody's believes that Wabash has mitigated
this risk (i) by growing its higher margin and relatively less
cyclical Diversified Products segment and (ii) by strengthening its
credit profile through deleveraging its balance sheet and
pro-actively extending its debt maturities at a time when market
conditions are favorable.

Wabash has benefited in recent years from an upswing in the demand
for new trailers, as freight demand strengthened, trucking capacity
tightened and customers started replacing ageing equipment.  These
conditions help to underpin strong cash flow generation, with funds
from operations of more than $100 million annually.  The company
prudently deployed almost $100 million of cash towards debt
repayment following its acquisition of liquid-tank manufacturer
Walker Group Holdings in 2012, which helped to reduce leverage to
2.3 times, calculated as Debt to EBITDA on a Moody's adjusted
basis.

Moody's considers the liquidity profile of Wabash to be very good
(SGL-1).  The company maintains a very sizeable cash balance,
generates ample cash flow to fund its limited capital expenditures
and there are no material debt maturities until 2018 when its $150
million senior unsecured convertible notes mature.

The rating for the new senior secured term facility is Ba3, equal
to the Ba3 CFR.  In determining this rating using its Loss Given
Default analysis, Moody's ranks the existing $150 million senior
secured revolving credit facility senior to the new term facility,
in view of the first-priority lien of the revolving credit facility
on such assets as accounts receivables and inventory, on which the
new term facility has a second-priority lien.

The stable rating outlook is predicated on Moody's expectation of
healthy demand for new trailers over the next 12 to 18 months,
resulting in moderate revenue growth and (adjusted) operating
income margins of around 6.5%.  Moody's anticipates Debt to EBITDA
to remain around the current level of 2.3 times, as any share
repurchases are likely to be funded with free cash flow.

The ratings could be downgraded if demand expectations for trailers
weaken materially, such that (adjusted) operating margins would
decrease to 5.0% or less, or if such market conditions occur when
the company is reliant on external uncommitted sources to fund
near-term debt maturities.  Downward pressure on the ratings could
also follow if Debt to EBITDA is expected to increase to more than
3.0 times on a sustained basis.

A ratings upgrade could follow if Wabash executes its
diversification strategy successfully with moderate use of debt,
such that the company is able to demonstrate limited pressure on
profitability, cash flow and credit metrics in the event of sudden
weakness in trailer demand.

Upgrades:

Issuer: Wabash National Corporation

Corporate Family Rating, Upgraded to Ba3 from B1
Probability of Default Rating, Upgraded to Ba3-PD from B1-PD
Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2

Assignments:

Issuer: Wabash National Corporation

  Senior Secured Bank Credit Facility, Assigned Ba3 (LGD4)

Outlook Actions:

Issuer: Wabash National Corporation

Outlook, Remains Stable

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.

Wabash National Corporation, headquartered in Lafayette, IN, is a
leading designer and manufacturer of truck and tank trailers as
well as related transportation equipment.



WALTER ENERGY: Bank Debt Trades at 35% Off
------------------------------------------
Participations in a syndicated loan under which Walter Energy, Inc
is a borrower traded in the secondary market at 65.58 cents-on-
the-dollar during the week ended Friday, March 13, 2015, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.58
percentage points from the previous week, The Journal relates.
Walter Energy, Inc. pays 575 basis points above LIBOR to borrow
under the facility.  The bank loan matures on March 14, 2018.  The
bank debt carries Moody's B3 rating and Standard & Poor's B-
rating.  The loan is one of the biggest gainers and losers among
226 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



WAYNE COUNTY, MI: Fitch Cuts Rating on $186.3MM LTGO Bonds to B
---------------------------------------------------------------
Fitch Ratings has downgraded the ratings for the following Wayne
County, Michigan bonds:

-- $186.3 million limited tax general obligation (LTGO) bonds
    issued by Wayne County to 'B' from 'BB-';

-- $51.3 million building authority (stadium) refunding bonds,
   series 2012 (Wayne County LTGO) issued by Detroit/Wayne County
   Stadium Authority to 'B' from 'BB-';

-- $203.5 million building authority bonds issued by Wayne County
   Building Authority to 'B' from 'BB-';

-- Wayne County unlimited tax general obligation (ULTGO) (implied)

   to 'B' from 'BB'.

The ratings are on Negative Watch.

SECURITY

LTGO bonds issued by the county carry the county's general
obligation ad valorem tax pledge, subject to applicable charter,
statutory and constitutional limitations.

Stadium authority and building authority bonds are secured by lease
payments from the county to the respective authority. The
obligation to make the rental payments is not subject to
appropriation, setoff or abatement for any cause, and carries the
county's LTGO pledge.

KEY RATING DRIVERS

FURTHER FINANCIAL DETERIORATION PROJECTED: The downgrade stems from
updated county projections showing the structural deficit to be
wider and liquidity narrower than previously thought. Fitch
believes state intervention is likely.

STATE INTERVENTION OPTIONS VARY: The Negative Watch reflects the
uncertainty regarding potential state intervention. Options
available to the county under the Local Financial Stability and
Choice Act (Act 436) represent a range of possible outcomes for
bondholders.

LACK OF BUDGETARY FLEXIBILITY: Recessionary property tax declines
have left the county with little to no revenue raising flexibility;
efforts to cut expenditures are hampered by the governance
structure and have been insufficient to restore balance.

STRESSED ECONOMY SLOW TO RECOVER: The weak local area economy is
reflected in elevated unemployment rates, population loss and
below-average income levels.

JAIL DEBT COULD BE PARTICULARLY VULNERABLE: Stadium authority and
building authority debt service is not subject to abatement or
appropriation. Debt service comprises a relatively small share of
governmental spending, but Fitch believes the jail debt could be
vulnerable given the failure to complete the project.

RATING SENSITIVITIES

LIQUIDITY DETERIORATION: Inability to maintain adequate liquidity,
either internally or by external borrowing, would lead to a cash
flow crisis and trigger a further downgrade. County projections
show pooled cash depletion in June 2016 assuming continued $75
million annual TAN borrowings; inability to access the market for
cash flow borrowing could cause depletion to occur earlier.

DEMONSTRATED IMPROVEMENT: The rating could stabilize at the 'B'
level if the county successfully implements a realistic plan that
puts it on a path toward structural balance, with or without Act
436.

CREDIT PROFILE

FINANICIAL DETERIORATION, NARROW LIQUIDITY PROJECTED

The county relies upon a pooled cash model, supplemented by
external cash flow borrowing to meet its day-to-day needs. The new
county executive commissioned an analysis from Ernst & Young which
includes updated financial and cash flow projections. In public
statements discussing the report, the county executive was quoted
as saying that bankruptcy is a possibility, albeit not a likely one
at this point.

The report includes cash flows projecting that pooled cash will be
completely depleted by June 2016, even assuming continued TAN
borrowing of $75 million each spring. Fitch remains concerned about
the county's ability to access the market for cash flow borrowing,
particularly given recent dire announcements, ratings downgrades,
and the presumed need for increasing amounts of cash flow
borrowing.

LARGE GENERAL FUND DEFICIT POSITION

The county's efforts to reduce its sizeable fund deficit positions
are hindered by persistent economic pressure and a limited revenue
environment. The general fund recorded a $10.3 million net
operating deficit (after transfers) in fiscal 2013. The large
$159.5 million unrestricted general fund deficit (representing a
very high -26.8% of general fund spending) in fiscal 2013 is
primarily the cumulative result of steep revenue declines and
budgetary overspending primarily for mandated services.

The delinquent tax revolving fund (DTRF) transferred $82 million of
cash to the general fund for deficit reduction in fiscal 2014, as
was called for in the county's previous DEP. An additional $68
million was reported to have been transferred, including $24
million for deficit reduction; however, Fitch has learned that only
$10 million of this additional transfer was actually made. A
slightly lower $78 million is slated to be transferred in fiscal
2015.

Preliminary, unaudited fiscal 2014 results suggest the accumulated
unreserved general fund deficit fell to $85.8 million in fiscal
2014. Assuming larger than typical transfers from the DTRF in
fiscal 2015, the accumulated deficit is projected to fall further,
to $8 million in fiscal 2015, before reversing course to a $38
million deficit in fiscal 2016. The projections show the
accumulated deficit continuing to grow, reaching $200 million by
the end of the projection period, in 2019.

STATE INTERVENTION INCREASINGLY LIKELY

The county plans to present a new DEP in the near term, but
previous plans have failed to produce enduring, structural
progress. The county has long met the conditions for Act 436
involvement, but neither the county nor the state has initiated
such action. Fitch believes the lack of available revenue-raising
and expenditure-cutting flexibility, combined with the county's
recent dire projections, make the prospect of state intervention
under Act 436 increasingly likely. On the one hand this could mean
strengthened financial discipline, but on the other, could open a
path to bankruptcy.

OPTIONS PRESENT VARYING RISKS

Should the state declare that a financial emergency exists under
Act 436, the county would be faced with four options: consent
agreement, emergency manager, neutral evaluation (mediation), or
bankruptcy. Each of these options may be chosen once and each
presents a different risk profile to investors. The least favorable
to bondholders would be the bankruptcy option, which requires the
written approval of the governor and a majority vote of the county
commission. Fitch believes it is unlikely the county would be
permitted to declare bankruptcy without first exploring another of
the options.

The emergency manager (EM) option would place the county into
receivership. The powers and functions of the elected and appointed
county officials would be assumed by an EM, who would have broad
powers including approval/rejection of contracts, including
collective bargaining agreements. Outcomes under the EM option may
be favorable or unfavorable for bondholders, depending upon the
EM's approach. Some Michigan EMs have prioritized repayment of
bonded debt, but in the Detroit case, the EM chose to have the city
file for bankruptcy and default on its general government debt.

Neutral evaluation would involve a mediated approach reliant upon
cooperation of various stakeholders. Fitch believes this option
would be neutral for bondholders, but likely not be successful in
producing the changes necessary for restoration of structural
balance. The county has successfully reached agreements in the
past, including one for 10% reduction in employee wages, and one to
rein in court costs; while the cost savings involved were arguably
substantive, they were not sufficient to eliminate the structural
imbalance. Given this history, Fitch believes it is unlikely that
mediated agreements could achieve savings on a scale necessary to
reverse the county's fiscal decline.

The risk to bondholders under the consent agreement option is
similar to the risk presented by the EM option. Under Act 436, the
county and state can enter into a tailored consent agreement which
could provide the county with some or all of the powers granted to
an emergency manager, including rejecting contracts, but with the
exception of abrogating collective bargaining agreements. Since all
of the county's collective bargaining agreements are expired, the
county may not feel that particular power is essential to their
recovery plan.

Choosing the consent agreement option could present both
opportunities and risks. A carefully crafted consent agreement that
includes the granting by the state to the county of broad powers
under Act 436 could assist the county in material and permanent
alteration of its cost structure, but would have little impact on
revenues. It is also possible that, with a consent agreement in
place, the state could choose to borrow on behalf of the county.
Previous financially distressed municipalities in Michigan have
benefitted from the state undertaking cash flow borrowing on their
behalf, with proceeds disbursed upon achievement of milestones
contained within the agreement. Conversely, in the case of Detroit,
lack of achievement of the agreed-upon milestones resulted in the
state withholding the borrowed cash, which precipitated the
liquidity crisis and receivership.



WINDSTREAM HOLDINGS: S&P Revises Outlook to Neg. & Affirms BB- CCR
------------------------------------------------------------------
Standard & Poor's Ratings Services said it revised the outlook on
Little Rock, Ark.-based Windstream Holdings Inc. to negative from
stable and affirmed the 'BB-' corporate credit rating on the
company.

The 'B' issue-level rating on the company's senior unsecured debt
remains on CreditWatch with positive implications, where S&P placed
it on July 29, 2014 because of its expectation for improved
recovery prospects due to a significant reduction in secured debt
following the planned REIT spin-off.

"The outlook revision is based on weaker-than-expected EBITDA
performance and leverage that is likely to be higher than our
original base-case forecast," said Standard & Poor's credit analyst
Allyn Arden.

Following the company's 2014 results, S&P expects Windstream's
reported EBITDA margin will be in the 22%-23% area over the next
couple of years, pro forma for the spin-off of its fiber and copper
plans assets into a REIT.  Despite the company's plan to retain a
19.9% stake in the REIT and monetize it over the next year, which
will be used for additional debt reduction, S&P expects that
operating lease adjusted debt to EBITDA will be in the mid- to
high-5x area in 2015, as opposed to S&P's original base-case
forecast of leverage in the low-5x area.  As a result, S&P could
lower the ratings if Windstream is unable to improve leverage to
below 5.5x over the next 12 months.

S&P's negative rating outlook on Windstream reflects adjusted net
leverage and other credit metrics that are currently weak for the
financial risk assessment, and S&P's expectation that adjusted
margins will remain lower than they have been in prior years.
S&P's rating depends on the company's ability to maintain adjusted
leverage below 5.5x on a sustained basis.

S&P could lower the ratings if operating performance and margins
weaken more than expected in 2015 such that leverage persists above
5.5x and FOCF to debt remains below 5%.  This could occur if
carrier migrations to Ethernet from TDM continue to pressure
revenue and the company is unable to turnaround CLEC SMB
operations.  Additionally, if access line losses accelerate and
revenue from consumer data services declines, margins could weaken
more than expected, resulting in leverage remaining above S&P's
5.5x threshold.

S&P could revise the outlook to stable if the company is able to
improve operating trends and adjusted margins to the mid- to
high-30% area or if it allocates more excess cash flow to debt
repayment such that leverage improves to below 5.5x and FOCF to
debt remains above 5% on a sustained basis.



WORD WORLD: NY Court Rules on Claims Trading Dispute
----------------------------------------------------
The complaint ARGO PARTNERS II LLC, Plaintiff, v. THE LEARNING BOX
LLC, DON MOODY, and GARY B. FRIEDMAN, Defendants, arose out of a
May 2011 transaction whereby Argo, a bankruptcy claims trader,
purchased Claim No. 29 held by The Learning Box, LLC (TLB) against
non-party Word World LLC, a debtor in bankruptcy. Argo contended
that it purchased Claim 29 in reliance on defendants'
misrepresentations regarding its validity and value. Claim 29 arose
out of a September 2009 loan transaction between TLB and Word World
whereby Word World issued a note in favor of TLB in exchange for
TLB's interest in certain grant funds provided by the United States
Department of Education.

Defendants TLB, Moody, and Friedman moved for summary judgment
dismissing count 1 of the complaint (fraud), count 2 (breach of
contract), count 3 (breach of warranty), and count 4 (to pierce the
corporate veil).  Plaintiff Argo also moved for summary judgment as
to all causes of action.

In his March 2, 2015 Decision and Order available at
http://bit.ly/1CiXMSgfrom Leagle.com, Judge O. Peter Sherwood of
the New York County Supreme Court ruled that:

   -- the defendants' motion is GRANTED to the extent it seeks
      dismissal of counts 1 and 4 and otherwise is DENIED; and

   -- the plaintiff's motion is DENIED in its entirety.


ZOGENIX INC: Auditor Issues Going Concern Qualification
-------------------------------------------------------
Zogenix, Inc. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$8.58 million on $40.53 million of total revenue for the year ended
Dec. 31, 2014, compared to a net loss of $80.85 million on $33.01
million of total revenue in 2013.

As of Dec. 31, 2014, the Company had $202.8 million in total
assets, $148 million in total liabilities and $55.3 million in
total stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014.  The independent auditors noted that
the Company's recurring losses from operations and negative cash
flows from operating activities raise substantial doubt about its
ability to continue as a going concern.

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

                         http://is.gd/FUlgf9

                          About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.


ZOGENIX INC: Sabby Healthcare Reports 6.5% Stake as of March 11
---------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Sabby Healthcare Master Fund, Ltd., Sabby Management,
LLC and Hal Mintz disclosed that as of March 11, 2015, they
beneficially owned 9,903,343 shares of common stock of Zogenix
Inc., which represents 6.46 percent of the shares outstanding.  

Sabby Management and Hal Mintz do not directly own any shares of
common stock, but each indirectly owns 9,903,343 shares.  Sabby
Management indirectly owns 9,903,343 shares of common stock because
it serves as the investment manager of Sabby Healthcare Master
Fund.  Mr. Mintz indirectly owns 9,903,343 shares in his capacity
as manager of Sabby Management.

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

                       http://is.gd/nQR2r0

                        About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

As of Dec. 31, 2014, Zogenix Inc. had $202.8 million in total
assets, $148 million in total liabilities and $55.3 million in
stockholders' equity.

Ernst & Young LLP, in San Diego, 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's recurring losses from operations and lack of
sufficient working capital raise substantial doubt about its
ability to continue as a going concern.


[*] Jones Day to Open Permanent Detroit Office
----------------------------------------------
JC Reindl, writing for Detroit Free Press, reported that Jones Day,
the law firm that represented Detroit through its Chapter 9
bankruptcy, said that it will open a permanent office in the city
in July.

According to the report, the downtown Detroit location would be the
Cleveland-founded firm's 17th office in the country and its 42nd
worldwide.  The office could open with a staff of about 12, the
report said.


[^] BOND PRICING: For The Week From March 2 to 6, 2015
------------------------------------------------------
  Company              Ticker   Coupon Bid Price  Maturity Date
  -------              ------   ------ ---------  -------------
AES Corp/VA            AES        7.75   103.086     10/15/2015
Allen Systems
  Group Inc            ALLSYS     10.5        34     11/15/2016
Allen Systems
  Group Inc            ALLSYS     10.5        34     11/15/2016
Alpha Natural
  Resources Inc        ANR           6      28.5       6/1/2019
Alpha Natural
  Resources Inc        ANR        9.75    42.062      4/15/2018
Alpha Natural
  Resources Inc        ANR        3.75     36.25     12/15/2017
Altegrity Inc          USINV        14        38       7/1/2020
Altegrity Inc          USINV        13    37.625       7/1/2020
Altegrity Inc          USINV        14    37.625       7/1/2020
American Eagle
  Energy Corp          AMZG         11     31.75       9/1/2019
American Eagle
  Energy Corp          AMZG         11        39       9/1/2019
Arch Coal Inc          ACI           7    28.305      6/15/2019
Arch Coal Inc          ACI        7.25        27      6/15/2021
Arch Coal Inc          ACI       9.875      35.4      6/15/2019
BPZ Resources Inc      BPZR        8.5        19      10/1/2017
Bear Stearns
  Cos LLC/The          JPM        5.85    100.15      8/15/2029
Bear Stearns
  Cos LLC/The          JPM        5.55    99.491      2/15/2024
Bear Stearns
  Cos LLC/The          JPM        5.43       100     10/15/2029
Caesars Entertainment
  Operating Co Inc     CZR          10      19.5     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR       12.75    16.733      4/15/2018
Caesars Entertainment
  Operating Co Inc     CZR          10     18.75     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR         6.5        33       6/1/2016
Caesars Entertainment
  Operating Co Inc     CZR       10.75      22.5       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR        5.75      32.5      10/1/2017
Caesars Entertainment
  Operating Co Inc     CZR          10     20.15     12/15/2015
Caesars Entertainment
  Operating Co Inc     CZR        5.75        12      10/1/2017
Caesars Entertainment
  Operating Co Inc     CZR       10.75      8.75       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR          10    19.375     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR       10.75        24       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR          10        18     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR          10    19.375     12/15/2018
Cal Dive
  International Inc    CDVI          5        10      7/15/2017
Champion
  Enterprises Inc      CHB        2.75      0.25      11/1/2037
Chassix Holdings Inc   CHASSX       10      8.75     12/15/2018
Chassix Holdings Inc   CHASSX       10      8.75     12/15/2018
Colt Defense LLC /
  Colt Finance Corp    CLTDEF     8.75    31.745     11/15/2017
Colt Defense LLC /
  Colt Finance Corp    CLTDEF     8.75    32.875     11/15/2017
Colt Defense LLC /
  Colt Finance Corp    CLTDEF     8.75    32.875     11/15/2017
Dana Holding Corp      DAN         6.5       103      2/15/2019
Deluxe Corp            DLX           7   101.989      3/15/2019
Dendreon Corp          DNDN      2.875     71.64      1/15/2016
E*TRADE
  Financial Corp       ETFC      6.375   107.485     11/15/2019
Endeavour
  International Corp   END          12     23.25       3/1/2018
Endeavour
  International Corp   END          12       1.5       6/1/2018
Endeavour
  International Corp   END         5.5     1.409      7/15/2016
Endeavour
  International Corp   END          12        23       3/1/2018
Endeavour
  International Corp   END          12        23       3/1/2018
Energy Conversion
  Devices Inc          ENER          3     7.875      6/15/2013
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc     TXU          10      9.75      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc     TXU          10        10      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc     TXU       6.875      3.84      8/15/2017
Exide Technologies     XIDE      8.625      1.57       2/1/2018
Exide Technologies     XIDE      8.625     3.265       2/1/2018
Exide Technologies     XIDE      8.625     3.265       2/1/2018
FBOP Corp              FBOPCP       10     1.843      1/15/2009
FairPoint
  Communications
  Inc/Old              FRP      13.125     1.879       4/2/2018
Fleetwood
  Enterprises Inc      FLTW         14     3.557     12/15/2011
Ford Motor Credit
  Co LLC               F             3    98.921      3/20/2018
GT Advanced
  Technologies Inc     GTAT          3     32.25      10/1/2017
Gymboree Corp/The      GYMB      9.125    42.502      12/1/2018
Hartford Life
  Insurance Co         HIG         4.7      89.5      6/15/2015
Hercules Offshore Inc  HERO      10.25        34       4/1/2019
Hercules Offshore Inc  HERO       8.75        30      7/15/2021
Hercules Offshore Inc  HERO       8.75     32.25      7/15/2021
Hercules Offshore Inc  HERO      10.25      33.5       4/1/2019
Las Vegas Monorail Co  LASVMC      5.5     3.227      7/15/2019
Lehman Brothers
  Holdings Inc         LEH           5    12.375       2/7/2009
Lehman Brothers Inc    LEH         7.5     9.125       8/1/2026
MF Global
  Holdings Ltd         MF         6.25        32       8/8/2016
MF Global
  Holdings Ltd         MF        3.375        32       8/1/2018
MF Global
  Holdings Ltd         MF        1.875        32       2/1/2016
MModal Inc             MODL      10.75    10.125      8/15/2020
Milagro Oil & Gas Inc  MILARG     10.5        75      5/15/2016
Molycorp Inc           MCP           6    12.391       9/1/2017
Molycorp Inc           MCP        3.25     16.75      6/15/2016
Molycorp Inc           MCP         5.5        18       2/1/2018
Morgan Stanley         MS      3.32236     99.65      3/12/2015
NII Capital Corp       NIHD         10        56      8/15/2016
OMX Timber Finance
  Investments II LLC   OMX        5.54    25.125      1/29/2020
Powerwave
  Technologies Inc     PWAV       2.75     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
Protective Life
  Secured Trusts       PL         2.66    99.788      3/10/2015
Prudential
  Financial Inc        PRU        2.52     99.75      3/10/2015
Quicksilver
  Resources Inc        KWKA      9.125         9      8/15/2019
Quicksilver
  Resources Inc        KWKA         11    13.938       7/1/2021
RAAM Global Energy Co  RAMGEN     12.5     42.79      10/1/2015
RadioShack Corp        RSH        6.75     9.125      5/15/2019
RadioShack Corp        RSH        6.75    94.125      5/15/2019
RadioShack Corp        RSH        6.75      8.75      5/15/2019
Resolute Energy Corp   REN         8.5     29.25       5/1/2020
Sabine Oil & Gas Corp  SOGC       7.25      28.9      6/15/2019
Sabine Oil & Gas Corp  SOGC       9.75        36      2/15/2017
Sabine Oil & Gas Corp  SOGC        7.5        27      9/15/2020
Sabine Oil & Gas Corp  SOGC        7.5     27.25      9/15/2020
Sabine Oil & Gas Corp  SOGC        7.5     27.25      9/15/2020
Samson Investment Co   SAIVST     9.75      32.5      2/15/2020
Saratoga
  Resources Inc        SARA       12.5      13.9       7/1/2016
Savient
  Pharmaceuticals Inc  SVNT       4.75     0.225       2/1/2018
TMST Inc               THMR          8    10.562      5/15/2013
Terrestar
  Networks Inc         TSTR        6.5        10      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU          15      16.5       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU          15      14.8       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU        10.5     8.375      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU        10.5      8.25      11/1/2016
Tunica-Biloxi
  Gaming Authority     PAGON         9     59.75     11/15/2015
Walter Energy Inc      WLT       9.875     12.25     12/15/2020
Walter Energy Inc      WLT         8.5    11.968      4/15/2021
Walter Energy Inc      WLT       9.875     12.25     12/15/2020
Walter Energy Inc      WLT       9.875     12.25     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.

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