TCR_Public/150407.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, April 7, 2015, Vol. 19, No. 97

                            Headlines

110 CARPENTER: Case Summary & 2 Largest Unsecured Creditors
2908 LOVERS LANE: Case Summary & 7 Largest Unsecured Creditors
3DX INDUSTRIES: Losses, Deficit Raise Going Concern Doubt
544 SAN ANTONIO: Files Schedules of Assets and Liabilities
AEREO INC: April 21 Hearing on Adequacy of Plan Disclosure

ALIMERA SCIENCES: Grant Thornton Expresses Going Concern Doubt
ALLEN SYSTEMS: Court Approves Grant Thornton as Auditor
ALLIED NEVADA: Wants 60-Day Extension of Schedules Deadline
ALONSO & CARUS: Continues Talks with Lender on Cash Collateral Use
ALPHA NATURAL: Moody's Lowers CFR to 'Caa3', Outlook Negative

ALTEGRITY INC: Wants to Hire DFAS to Provide Accounting Services
AMERICAN APPAREL: Approves Performance Targets Under 2015 AIP
AOXING PHARMACEUTICAL: Regains Compliance with NYSE Rule
AP-LONG BEACH: Has Interim Approval for DIP Financing
ARCHDIOCESE OF MILWAUKEE: Judge Rejects Sexual-Abuse Claims

AURORA DIAGNOSTICS: Accountant Quits; Form 10-K Delayed
AURORA DIAGNOSTICS: Obtains Default Waiver From Lenders
BANK OF THE CAROLINAS: Posts $10.4 Million Net Income in 2014
BOX SHIPS: Deloitte Greece Expresses Going Concern Doubt
BPZ RESOURCES: Amends Application to Hire Hawash Meade

BREF HR: Delays 2014 Form 10-K Report
BREVARD COLLEGE: Fitch Ups Rating on $10MM Series 2007 Bonds to BB-
BRUSH CREEK: Plan Confirmation Hearing Commences June 2
BURLINGTON STORES: S&P Raises Corp Credit Rating to 'B+'
CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 9% Off

CAREFREE WILLOWS: Proceedings on Fifth Amended Plan Stayed
CENTRAL EUROPEAN MEDIA: Deloitte Expresses Going Concern Doubt
CHARTER COMMUNICATIONS: Fitch Puts 'BB-' IDR on Watch Positive
CLOUDEEVA INC: First Tek-Led Auction Today
COCRYSTAL PHARMA: Reports $99,000 Net Loss for 2014

CONE INVESTMENT: Mill in Lane County Sold to Zip-O-Log for $1.55M
CONNACHER OIL: Bid to Restructure in Canada Denied
CONVERGYS CORP: S&P Affirms 'BB+' CCR; Outlook Stable
COUNTRY STONE: Debtors Want Name Change After Sale
COUTURE HOTEL: Has Until May 5 to Propose Chapter 11 Plan

CRAIGHEAD COUNTY: Creditor Wants Jonesboro Property Sold
CYGAM ENERGY: Files Voluntary Assignment in Bankruptcy
DEB STORES: Sells Website, Trademarks for $2.2-Mil.
DEER VALLEY TRUCKING: Case Summary & 20 Top Unsecured Creditors
DEERFIELD RANCH: Status Conference Slated for April 17

DELIAS INC: Has Until June 5 to Assume or Reject Unexpired Leases
DELIAS INC: Has Until June 5 to Propose Chapter 11 Plan
DELIA’S INC: Agrees to Vacate Two Trees Property
DENDREON CORP: Proposes Ernst & Young as Tax Advisors
DRYSHIPS INC: Ernst & Young Raises Going Concern Doubt

DUNE ENERGY: Year-End 2014 Proved Reserves Down 17%
ENDEAVOR ENERGY: Moody's Alters Outlook to Neg. & Affirms 'B1' CFR
ENDEAVOUR INT'L: Noteholder Opposes Deregistration
ENERGY & EXPLORATION: Bank Debt Trades at 18% Off
EVERYWARE GLOBAL: Enters Into Restructuring Agreement with Lenders

EVERYWARE GLOBAL: Moody's Cuts CFR to 'Ca', Outlook Negative
EVERYWARE GLOBAL: To File for Bankruptcy Protection
FAIRMOUNT SANTROL: S&P Affirms 'BB-' CCR; Outlook Stable
FALCON STEEL: Bankruptcy Court Confirms Reorganization Plan
FALCON STEEL: Court Confirms Reorganization Plan

FEDERATION EMPLOYMENT: Creditor Reserves Right on Deals Assumption
FINJAN HOLDINGS: Promotes Julie Mar-Spinola as Chief IP Officer
FOODS INC: Payment of Mountsier Fees Approved
FORTESCUE METALS: Bank Debt Trades at 13% Off
FOUR OAKS: Incurs $4.2 Million Net Loss in 2014

FRAC TECH: Bank Debt Trades at 23% Off
FRED FULLER: Committee Taps Brinkman Portillo as Attorneys
FRED FULLER: Proposes BMC Group as Notice Agent
FREEDOM INDUSTRIES: Premature to Address ARCADIS Motion, Says CRO
FRESH PRODUCE: Holdings Joins Units in Chapter 11

FRESH PRODUCE: Updated Case Summary & 30 Top Unsecured Creditors
GENERAL STEEL: Reports $13 Million Net Income in Fourth Quarter
GETTY IMAGES: Bank Debt Trades at 16% Off
GO DADDY: Moody's Raises Corp. Family Rating to 'Ba3'
GT ADVANCED: Commences Solicitation Bids for DIP Loan Facility

GT ADVANCED: Plan Filing Exclusivity Extended to June 3
GT ADVANCED: PwC Partner Declares Attests Firm's Disinterestedness
GT ADVANCED: T. Richard Faloh Balks at Contract Attorneys Hiring
GTX INC: Provides Update on Nasdaq Listing Compliance Process
HCR HEALTHCARE: S&P Affirms 'B-' CCR & Revises Outlook to Stable

HEALTHWAREHOUSE.COM INC: Narrows Net Loss to $1.78M in 2014
HEXION INC: Proposes $315 Million Debt Offering
HRK HOLDING: LT Care Line of Credit Maturity Date Moved to Sept. 7
HRK HOLDINGS: Can Access Arsenal's DIP Facility on Interim Basis
HUTCHESON MEDICAL: Might Start Paying Walker County in May

IHEARTCOMMUNICATIONS INC: Parent Sells 367 Tower Sites for $369M
IMH FINANCIAL: Incurs $39.5 Million Net Loss in 2014
IMH FINANCIAL: Reports Adjusted EBITDA of $13.7 Million for 2014
J. CREW: Bank Debt Trades At 7% Off
LEHMAN BROTHERS: Moore Capital Denied "Customer" Status

LIFE PARTNERS: Committe Wants Add'l Disclosure on Meyer's Hiring
LIFE PARTNERS: Committee Balks at Hudson & Calleja's Employment
LIFE PARTNERS: Committee Wants Douglas Berman to Disclose More Info
LIFE PARTNERS: Panel Says Alexander Application Must be Withdrawn
LIFE PARTNERS: Panel Says Trustee to Decide Hiring of MacKenzie

LIFE PARTNERS: Panel Wants Meadows Application Deferred
LIME ENERGY: Amends Promissory Note with Bison Capital
LOAN EXCHANGE: Stay Lifted; Bankruptcy Case Dismissed
LSI RETAIL II: Joins Affiliates in Chapter 11
LSI RETAIL II: Proposes Weinman & Associates as Counsel

LTI HOLDINGS: S&P Assigns 'B' Corp. Credit Rating, Outlook Stable
LTS GROUP: S&P Affirms 'B' Corp. Credit Rating
MARTY LOGAN'S: Case Summary & 20 Largest Unsecured Creditors
MATAGORDA ISLAND: Judge Approves $500,000 Loan From AIC
MEG ENERGY: Bank Debt Trades at 5% Off

MICHAEL BAHARY: Napleton Directed to Drop Debtor, Bank From Suit
MICHAEL SCHUGG: Court Permits Murphy Road Improvements
MICHAELS COMPANIES: S&P Raises CCR to 'B+'; Outlook Stable
MIDSTATES PETROLEUM: Gets Non-Compliance Notice From NYSE
MIDSTATES PETROLEUM: Signs Employment Agreement with Interim CEO

MONTGOMERY WARD: Ill. Court Affirms Ruling on DiMucci Claim
NATEL ENGINEERING: Moody's Lowers 2020 Term Loan Rating to B2
NATIONAL GENERAL HOLDINGS: A.M. Best Assigns 'bb' Debt Rating
NCSG CRANE: Moody's Lowers CFR to Caa1, Outlook Stable
NET ELEMENT: Anashkhan Gabbazova Holds 11.7% Stake as of April 1

NET ELEMENT: Cayman Invest Reports 11.7% Stake as of April 1
NEW LOUISIANA: Affiliates Get Green Light to Auction Assets
NEW STREAM CAPITAL: Investor Losses Pegged at $46.6 Million
NEWPAGE CORP: Bank Debt Trades at 4% Off
NEXEO SOLUTIONS: Moody's Lowers CFR to 'B3', Outlook to Stable

NJ HEALTHCARE: Seeks to Employ Trenk DiPasquale as Ch. 11 Counsel
NJ HEALTHCARE: Seeks to Use Cash Collateral
NORBORD INC: DBRS Confirms 'BB' Issuer Rating
NORTHWEST MISSOURI HOLDINGS: Case Summary & Top Unsec. Creditors
NSB ADVISORS: Attracts No Competing Bids

NUTRANOMICS INC: Incurs $944K Net Loss in Jan 31 Quarter
OANDO ENERGY: Posts $320M Loss in 2014; Gets Covenant Waiver
OPTIM ENERGY: Seeks to Auction Interest in 2 Power Plants
ORIENT PAPER: Audit Opinion Includes Going Concern Paragraph
PALM BEACH COMMUNITY: Turns Over Developed Land to PNC Bank

PARK FLETCHER: Files Schedules of Assets and Liabilities
PARK FLETCHER: Section 341(a) Meeting Continued to April 21
PENN HILLS SCHOOL: Moody's Cuts GO Rating to 'B3', Outlook Negative
PITTSBURGH CORNING: Schuster Out as Counsel of Judgment Creditors
POLYMER GROUP: S&P Retains 'B-' Rating on 1st Lien Term Loan B

PONCE DE LEON: Gets Approval to Transfer Properties to PRLP
POSITIVEID CORP: Holds 5.5% Stake in VeriTeQ Corp as of March 31
PREFERRED PROPERTY: FDIC's Disgorgement Bid, Fee Objection Denied
PREMIER EXHIBITIONS: Signs Merger Agreement with With Dinoking
PRIME GLOBAL: Has Operating loss and Working Capital Deficit

PULSE ELECTRONICS: AB Value Partners Holds 5% Stake as of April 2
PULSE ELECTRONICS: Gets $8.5 Million Loan From Parent
PWK TIMBERLAND: Plan Outline Hearing Continued Until April 16
RADIO SHACK: Files Schedules of Assets and Liabilities
RADIOSHACK CORP: Former Dell Exec to Lead Fund's Plan Revive Chain

RADIOSHACK CORP: General Wireless to Acquire 1,743 Stores
RADIOSHACK CORP: Gets Approval to Sell Lease to Famous Famiglia
RADIOSHACK CORP: Joe Magnacca Leaves CEO Post Without Successor
RECYCLE SOLUTIONS: Has Until May 1 to File Reorganization Plan
REICHHOLD: Completes Asset Purchase & Debt-for-Equity Exchange

RESTORGENEX CORP: Posts $14.4 Million Net Loss in 2014
REVEL AC: Milstein-Goldbarg Joint Venture to Offer $88MM for Asset
RICEBRAN TECHNOLOGIES: Adjusted EBITDA Reconciliation
RIGHTSCORP INC: HJ & Associates Expresses Going Concern Doubt
RIVERWALK JACKSONVILLE: Plan Confirmation Hearing Set for May 28

ROCK CREEK: Cherry Bekaert Expresses Going Concern Doubt
ROSVOLD ENTERPRISES: Ch. 11 Case Dismissed; Closes Campus Pizza
SAFINA MBAZIRA: U.S. Bank Loses Mortgage Lien Due to Technicality
SEADRILL LTD: Bank Debt Trades at 21% Off
SEARS HOLDINGS: Moves to Raise $2.5-Bil. by Selling Real Estate

SHIRLEY MCCLURE: Court Pegs Counsel's Equity in 9 Properties
SILVER INVESTMENTS: Voluntary Chapter 11 Case Summary
SIMON WORLDWIDE: Reports $7 Million Net Loss in 2014
SKYLINE MANOR: Baird Holm OK'd to Litigate on Contingent Fee Bas
SOLAR POWER: Incurs $5.19 Million Net Loss in 2014

SPANISH BROADCASTING: Posts $20 Million Net Loss in 2014
SPENDSMART NETWORKS: Incurs $12.2 Million Net Loss in 2014
SPRINT INDUSTRIAL: S&P Revises Outlook to Neg. & Affirms 'B' CCR
SQUARETWO FINANCIAL: Moody's Lowers Corp. Family Rating to B3
STATE FISH: June 23 Scheduled for Case Management Status Hearing

SUPERCONDUCTOR TECHNOLOGIES: Incurred Losses Since Inception
SUPERTEL HOSPITALITY: KPMG Expresses Going Concern Doubt
TARGET CANADA: To Close Remaining 133 Retail Stores on April 12
TELKONET INC: Incurs $95,000 Net Loss in 2014
TERVITA CORP: Bank Debt Trades at 9% Off

TEXOMA PEANUT: Court Approves Revisions to DIP Agreement
TRIPLE POINT: Moody's Raises Corp Family Rating to Caa1
TWCC HOLDING: Moody's Lowers CFR to B2, Outlook Stable
UNITED BANCSHARES: Needs More Time to File 2014 Form 10-K
VALEANT PHARMACEUTICALS: S&P Raises Secured Debt Rating to 'BB+'

VANTAGE DRILLING: 2017 Bank Debt Trades at 38% Off
VANTAGE DRILLING: 2019 Bank Debt Trades at 44% Off
VERITEQ CORP: PositiveID Corp Holds 5.5% Stake as of March 31
VISANT CORP: Moody's Affirms B3 Corp. Family Rating
VISUALANT INC: Amends Demand Promissory Notes with CEO

VOTORANTIM CEMENT: Moody's Withdraws Ba1 Credit Ratings
WEST COAST GROWERS: Seeks Authority to Use Cash Collateral
WHITTEN FOUNDATION: Section 341(a) Meeting Scheduled for April 30
WILLBROS GROUP: S&P Affirms 'B-' CCR, Off Watch Negative
WPCS INTERNATIONAL: Reduces Number of Directors to Four

YARWAY CORP: April 8 Hearing on Bradley E. Scher as Director
YRC WORLDWIDE: Agrees to Swap $17M Notes for 994,689 Shares
[*] 5th Circuit Says Judge Lynn Hughes Abused His Discretion
[^] Large Companies With Insolvent Balance Sheet

                            *********

110 CARPENTER: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: 110 Carpenter, LLC
        110 Carpenter Avenue
        Wheeling, IL 60090

Case No.: 15-12082

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 3, 2015

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

Judge: Hon. Janet S. Baer

Debtor's Counsel: Joel A Schechter, Esq.
                  LAW OFFICES Of JOEL SCHECHTER
                  53 W Jackson Blvd Ste 1522
                  Chicago, IL 60604
                  Tel: 312 332-0267
                  Fax: 312 939-4714
                  Email: joelschechter@covad.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bongsub Samuel Ko, member.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb15-12082.pdf


2908 LOVERS LANE: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: 2908 Lovers Lane Enterprises, LLC
        2908 Lovers Lane
        University Park, TX 75225

Case No.: 15-31426

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 3, 2015

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Hon. Harlin DeWayne Hale

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE W. LINDAUER ATTORNEY, PLLC
                  12720 Hillcrest Road, Suite 625
                  Dallas, TX 75230
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  Email: joyce@joycelindauer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Saed Mahboob, president.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/txnb15-31426.pdf


3DX INDUSTRIES: Losses, Deficit Raise Going Concern Doubt
---------------------------------------------------------
3DX Industries, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $281,000 on $109,500 of revenue for the three months ended Jan.
31, 2015, compared with a net loss of $9.55 million on $nil of
revenue for the same period in 2014.

The Company's balance sheet at Jan. 31, 2015, showed $1.15 million
in total assets, $2.52 million in total liabilities, and total
stockholders' deficit of $1.37 million.

The Company has incurred net losses since inception, and as of Jan.
31, 2015 had a combined accumulated deficit of $16.3 million and
had negative working capital of $1.2 million.  These conditions
raise substantial doubt as to the Company's ability to continue as
a going concern, according to the regulatory filing.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/3UAWeW
                          
3DX Industries, Inc. focuses on precision machining and additive
manufacturing activities.  The company was formerly known as Amarok
Resources, Inc. and changed its name to 3DX Industries, Inc. in
November 2013.  3DX Industries, Inc. was incorporated in 2008 and
is based in Ferndale, Washington.


544 SAN ANTONIO: Files Schedules of Assets and Liabilities
----------------------------------------------------------
544 San Antonio Road LLC filed with the U.S. Bankruptcy Court for
the Central District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $14,000,000
  B. Personal Property                  $280
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $12,119,707
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $331,647
                                 -----------      -----------
        Total                    $14,000,280      $12,451,354

A copy of the schedules is available for free at

        http://bankrupt.com/misc/544SanAntonio_14_SALs.pdf

                       About 544 San Antonio

544 San Antonio Road filed a Chapter 11 bankruptcy petition (Bankr.
C.D. Cal. Case No. 15-13570) in Los Angeles, California, on March
9, 2015.  The petition was signed by Benjamin Kirk as manager.

David B Golubchik, Esq., at Levene Neale Bender Rankin & Brill LLP,
in Los Angeles, serves as the Debtor's counsel.


AEREO INC: April 21 Hearing on Adequacy of Plan Disclosure
----------------------------------------------------------
The Bankruptcy Court will convene a hearing on April 21, 2015, at
11:00 a.m., to consider approval of the Disclosure Statement
explaining Aereo, Inc.'s Chapter 11 Plan.  Objections, if any, are
due April 10.

As reported in the Troubled Company Reporter on March 12, 2015,
Law360 reported that Aereo Inc. filed a Chapter 11 plan outlining a
strategy to pay back creditors with the meager proceeds of an
auction for television streaming technology that threatened to
upend the U.S. television marketplace before it was declared
illegal by the U.S. Supreme Court.

According to Law360, bankruptcy lawyers filed a Chapter 11 plan
designed to distribute $1.55 million that bidders paid at an asset
auction, a figure less than half of what Aereo expected to receive.
The disappointing auction capped a swift and dramatic fall for
Aereo, a disruptive  startup that was once poised to revolutionize
the way consumers watch network television, Law360 said.

Meanwhile, Sara Randazzo, writing for The Wall Street Journal,
reported that a lawsuit was filed accusing major broadcasters of
chilling the bidding in an asset sale intended to raise money for
Aereo's creditors.  According to the Journal, the suit, filed on
March 9 in U.S. Bankruptcy Court in New York, said the broadcasters
"have aggressively pursued litigation strategies that are
objectively baseless" and served no purpose other than to hurt
Aereo.

                        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.


ALIMERA SCIENCES: Grant Thornton Expresses Going Concern Doubt
--------------------------------------------------------------
Alimera Sciences, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K for the year ended Dec.
31, 2014.

Grant Thornton LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing the Company's
recurring losses, negative cash flow from operations, and an
accumulated deficit of $313 million as of Dec. 31, 2014.

The Company reported a net loss of $35.9 million on $8.42 million
of net revenue for the year ended Dec. 31, 2014, compared to a net
loss of $46.2 million on $1.87 million of net revenue in the prior
year.

The Company's balance sheet at Dec. 31, 2014, showed $109 million
in total assets, $59.9 million in total liabilities, and total
stockholders' equity of $49.5 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/Ma1zoM
                          
                      About Alimera Sciences

Alpharetta, Ga.-based Alimera Sciences, Inc., is a
biopharmaceutical company that specializes in the research,
development and commercialization of prescription ophthalmic
pharmaceuticals.  The Company is presently focused on diseases
affecting the back of the eye, or retina, because it believes
these diseases are not well treated with current therapies and
represent a significant market opportunity.

The Company reported a net loss of $7.01 million on $2.41 million
of
net revenue for the three months ended Sept. 30, 2014, compared
with  
a net loss of $1.11 million on $758,000 of net revenue for the same

period in the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $93.3
million in total assets, $85.07 million in total liabilities and
total stockholders' equity of $8.22 million.


ALLEN SYSTEMS: Court Approves Grant Thornton as Auditor
-------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware authorized Allen Systems Group, Inc. and its
debtor-affiliates to employ Grant Thornton LLP as their auditor,
nunc pro tunc to the Petition Date.

As reported in the Troubled Company Reporter on March 17, 2015,
Grant Thornton is a nationally recognized tax, audit, and financial
advisory firm with particular experience in providing audit
services to large and mid-size, public and private companies.  The
firm has provided accounting and audit services to numerous
companies involved in Chapter 11 cases.

Grant Thornton is expected to audit the consolidated balance sheet
of Allen Systems Group and its subsidiaries and ALA Services, LLC,
as of Dec. 31, 2014, and the related consolidated statements of
operations, stockholders' equity and cash flows for the year then
ended.

Grant Thornton will apply for compensation of professional services
rendered and reimbursement of expenses in connection with the
Debtors' Chapter 11 cases.  For audit work for the year ending Dec.
31, 2014, the fees paid prior to Feb. 25, 2015, were $258,000 and
the expenses were $17,480 for a total of $275,480.

In June 2014, the firm was paid $50,000 as retainer for the
services to be provided to the Debtors.  The following chart sets
forth the billings made and to be made by the firm in connection
with the engagement letter.

   Billing Date            Fees
   ------------            ----
   Previously billed       $23,000
   Nov. 7, 2014            $85,000
   Nov. 28, 2014           $100,000
   Feb. 13, 2015           $90,000
   March 6, 2015           $65,000
   March 20, 2015          Remaining Amount

The firm said it sent an invoice to the Debtors for the Feb. 13,
2015 scheduled payment under the engagement letter for $90,000 plus
$5,400 for incurred expenses.  The firm said it has not been paid
that amount.

Gregory T. Rusk, partner at Grant Thornton, assured the Court that
the firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

Mr. Rusk can be reached at:

   Gregory T. Rusk
   Partner, Audit Services; Director,
    International Business Center, South Florida
   Grant Thornton LLP
   Fort Lauderdale, FL
   Tel: +1 954 331 1166
   Fax: +1 954 768 9908
   Email: gregg.rusk@us.gt.com

                        About Allen Systems

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

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

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

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


ALLIED NEVADA: Wants 60-Day Extension of Schedules Deadline
-----------------------------------------------------------
Allied Nevada Gold Corp., et al., ask the Bankruptcy Court to
extend the time to file their schedules of assets and liabilities
and statements of financial affairs to 60 days after the Petition
Date.

The Debtors relate that they had begun compiling information that
will be required to complete their respective (a) statements of
financial affairs, (b) schedules of assets and liabilities, (c)
schedules of current income and expenditures, and (d) schedules of
executory contracts and unexpired leases.  Due to the complexity
and scope of the Debtors' business, the Debtors have not yet
finished gathering the information.

The Debtors propose that the Court consider the matter on April 15,
2015, at 10:30 a.m.  Objections, if any, are due April 8, at 4:00
p.m.

The Debtors' attorneys can be reached at:

         Stanley B. Tarr, Esq.
         Bonnie Glantz Fatell, Esq.
         Michael D. DeBaecke, Esq.
         BLANK ROME LLP
         1201 N. Market Street, Suite 800
         Wilmington, DE 19801
         Tel: (302) 425-6400
         Fax: (302) 425-6464

              - and -

         Ira S. Dizengoff, Esq.
         Philip C. Dublin, Esq.
         Alexis Freeman, Esq.
         Kristine G. Manoukian, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         One Bryant Park
         New York, NY 10036
         Tel: (212) 872-1000
         Fax: (212) 872-1002

                        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.

The U.S. Trustee overseeing the Chapter 11 case of the Debtors
appointed three creditors to serve on the official committee of
unsecured creditors.



ALONSO & CARUS: Continues Talks with Lender on Cash Collateral Use
------------------------------------------------------------------
Alonso & Carus Iron Works, Inc., and its secured creditor, Banco
Popular de Puerto Rico, informed the U.S. Bankruptcy Court for the
District of Puerto Rico that they are currently continuing
discussions regarding the use of cash collateral securing the
Debtor's prepetition indebtedness to BPPR.

The parties have agreed to provide to BPPR a replacement lien and a
postpetition security interest on all of the Cash Collateral
acquired by the Debtor on and after the Petition Date and to which
BPPR may be entitled.  The Replacement Liens will remain in the
same priority and will encumber to the same extent as BPPR's
prepetition Cash Collateral, and will be deemed effective and
perfected as of the Petition Date without the need of the execution
or filing by Debtor or BPPR of any additional security agreements,
pledge agreements, financing statements or other agreements.

Alonso & Carus Iron Works, Inc., sought Chapter 11 protection
(Bankr. D.P.R. Case No. 15-02250) in Old San Juan, Puerto Rico, on
March 27, 2015.  The case is assigned to Judge Enrique S. Lamoutte
Inclan.

The Catano, Puerto Rico-based debtor has filed schedules of assets
and liabilities, disclosing $23,028,113 in total assets and
$14,919,146 in total debts.

The Debtor on the Petition Date filed applications to employ
Charles A Curpill, PSC Law office, as counsel; and CPA Luis R.
Carrasquillo & Co, PSC as financial consultant.


ALPHA NATURAL: Moody's Lowers CFR to 'Caa3', Outlook Negative
-------------------------------------------------------------
Moody Investor's Service downgraded the corporate family rating of
Alpha Natural Resources, Inc's to Caa3 from Caa1 and the
probability default rating to Caa3-PD/LD from Caa1-PD. The
downgrade follows the company's announcement that it has completed
the repurchase of an aggregate of approximately $593 million in
principal amount of its unsecured notes, funding the aggregate
repurchase price of approximately $331 million through a
combination of the issuance of $214 million of senior secured
second lien notes due 2020 and $117 million of cash on hand.
Moody's appended an /LD designation to Alpha's PDR, reflecting the
view that the debt repurchases qualify as a limited default under
Moody's definition of default, which intends to capture events
whereby issuers fail to meet debt service obligations outlined in
their original debt agreements. At the same time, Moody's
downgraded the first lien term loan to B3 from B2, second lien
notes to Caa3 from B3 and senior unsecured notes to Ca from Caa2.
The outlook is negative.

Issuer: Alpha Natural Resources, Inc

  -- Corporate Family Rating (Local Currency), Downgraded to Caa3
     from Caa1

  -- Probability of Default Rating, Downgraded to Caa3-PD /LD
     from Caa1-PD

  -- Senior Secured Bank Credit Facility (Local Currency),
     Downgraded to B3, LGD2 from B2, LGD2

  -- Senior Secured Regular Bond/Debenture (Local Currency),
     Downgraded to Caa3, LGD3 from B3, LGD3

  -- Senior Unsecured Regular Bond/Debenture (Local Currency),
     Downgraded to Ca, LGD5 from Caa2, LGD5

  -- Speculative Grade Liquidity Rating, unchanged at SGL-3

  -- Outlook, Remains Negative

The downgrade reflects the continued pressure on the company's
credit profile, and a capital structure that is untenable in
current commodity price environment, which could incentivize the
company to undertake other distressed exchanges of unsecured debt
in the future. The CFR continues to reflect the weak debt
protection metrics and high leverage (18x as measured by the
debt/EBITDA ratio for the twelve months through December 31, 2014),
which Moody's expect to continue to deteriorate given weak
metallurgical coal market conditions. Moody's believe that
metallurgical coal prices are unlikely to recover within the next
eighteen months to a level that would contribute to a meaningful
turnaround in performance. Consequently, leverage is anticipated to
become more elevated and further strain the capital structure.

The CFR continues to reflect Alpha's position as one of the top
three US coal companies in terms of production and reserves and the
largest US met coal producer. The rating also reflects the
company's operating diversity with 86 mines, 25 prep plants, and a
presence in Northern and Central Appalachia and the Powder River
Basin (PRB). The company's efficient longwall operations in NAPP
remain well positioned to generate healthy margins in the thermal
markets, and in high-volatile met markets once conditions improve.

The negative outlook reflects our expectation that market
conditions, particularly for met coal, will remain depressed into
2016 and that Alpha's performance will continue to be pressured by
the weak fundamentals.

While the potential for an upgrade is limited at this time, the
ratings or outlook could be favorably impacted should metallurgical
and/or thermal coal prices recover and/or leverage declines
sustainably below 10x.

A downgrade would result should liquidity continue to deteriorate
such that cash balance is below $300 million.

The principal methodology used in these ratings was Global Mining
Industry published in August 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.

Alpha Natural Resources is one of the largest coal companies in the
US, and the largest US producer and exporter of metallurgical (met)
coal. The company's operations are located in the Central
Appalachia (CAPP) and Northern Appalachia (NAPP) regions, as well
as the Powder River Basin (PRB). In 2014, Alpha generated revenues
of $ 4.3 billion


ALTEGRITY INC: Wants to Hire DFAS to Provide Accounting Services
----------------------------------------------------------------
Altegrity Inc. and its debtor-affiliates seek authority from the
Hon. Selber Sliverstein of the U.S. Bankruptcy Court for the
District of Delaware to employ Deloitte Financial Advisory Services
LLP as fresh-start accounting services provider.

A hearing is set for April 17, 2015, at 10:00 a.m. (ET) to consider
the Debtors' request.  Objections, if any, must be filed no later
than 4:00 p.m. (ET) on April 10, 2015.

The firm is expected to:

   a) assist the Debtors with the development of an implementation
approach for Fresh-Start Accounting, starting with any necessary
training support and culminating in a strategy and work plan for
the project;

   b) advise and provide recommendations to the Debtors in
connection with their determination of plan of reorganization (POR)
adjustments necessary to record the impact of the POR to the books
of entry of the appropriate legal entities;

   c) assist the Debtors in their determination of asset and
liability fair values and other fresh-start adjustments as
necessary to comply with the accounting and reporting requirements
of ASC 852;

    d) advise the Debtors as they prepare accounting information
and disclosures in support of public and private financial filings
such as 10-K or 10-Q's or lender statements;

    e) assist the Debtors with other valuation matters as they deem
necessary for financial reporting disclosures;

    f) advise the Debtors as they evaluate existing internal
controls and develop new controls for Fresh-Start Accounting
implementation;

    g) assist the Debtors with their responses to questions or
other requests from the Debtors' external auditors regarding
bankruptcy accounting and reporting matters;

     h) assist the Debtors in their preparation and implementation
of the accounting treatments and systems updates for their
Fresh-Start Accounting implementation as of the fresh-start
reporting date;

     i) assist the Debtors with their identification of tangible
and intangible assets, as well as liabilities, to be revalued at
their fair value for Fresh-Start Accounting purposes;

     j) analyze fair value estimates or other valuations performed
by others, if any, and assisting management in identifying
additional efforts related to these estimates;

     k) assisting the Debtors with their estimate of the fair value
of specific assets, liabilities, reporting unit and legal entities,
as specified by the Debtors;

     l) advise the Debtors on allocating assets, liabilities and
goodwill to reporting units;

     m) coordinate valuation information for auditor review;

     n) advise the Debtors as they address company-specific issues
surrounding value allocation to specific assets, legal entities,
cost centers, operating segments and reporting units; and

     o) provide such other related services as may be specified in
the engagement letter.

The firm's compensation rates:

        Designations                           Hourly Rates
        ------------                           ------------
        Partner/Principal/Director             $625-$725
        Senior Manager/Senior Vice President   $550-$595
        Manager/Vice President                 $425-$475
        Senior Associate                       $375-$425
        Associate                              $275-$325

Anthony Sasso, restructuring director of the firm, assures the
Court that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

Mr. Sasso can be reached at:

   Anthony Sasso
   Deloitte Financial Advisory Services LLP
   100 Kimball Drive
   Parsippany, NJ 07054-0319
   Tel: +1 212 436 4558
   Email: asasso@deloitte.com
   
A full-text copy of the engagement letter is available for free at
http://is.gd/SYXBoI

                        About Altegrity Inc.

Altegrity Inc. provides background investigations for the U.S.
government; employment background and mortgage screening for
commercial customers; technology-driven legal services and
software
for data management; and investigative, analytic, consulting, due
diligence, and security services.  Altegrity is principally owned
by investment funds affiliated with Providence Equity Partners.

Altegrity Inc. and 37 of its affiliates filed Chapter 11
bankruptcy
petitions (Bankr. D. Del. Lease Case No. 15-10226) on Feb. 8,
2015.

Jeffrey S. Campbell signed the petitions as president and chief
financial officer.  The Debtors disclosed total assets of $1.7
billion and total liabilities of $2.1 billion as of June 30, 2014.

M. Natasha Labovitz, Esq., Jasmine Ball, Esq., and Craig A.
Bruens, Esq., at Debevoise & Plimpton LLP serve as the Debtors'
counsel.  Joseph M. Barry, Esq., Ryan M. Bartley, Esq., and Edmon
L. Morton, Esq., at Young, Conaway, Stargatt & Taylor, LLP, act as
the Debtors' Delaware and conflicts counsel.  Stephen Goldstein
and
Lloyd Sprung, at Evercore Group, LLC, are the Debtors' investment
bankers.  Kevin M. McShea and Carrianne J. M. Basler, at
Alixpartners LLP serve as the Debtors' restructuring advisors.
Prime Clerk LLC is the Debtors' claims and noticing agent.
PricewaterhouseCoopers LLP serves as the Debtors' independent
auditors.

The U.S. Trustee for Region 3 appointed six creditors to serve on
the official committee of unsecured creditors.


AMERICAN APPAREL: Approves Performance Targets Under 2015 AIP
-------------------------------------------------------------
The Compensation Committee of the Board of Directors of American
Apparel, Inc. approved performance targets under the 2015 AIP that
will be used to determine the amount of cash bonus awards that may
be earned by the participants in the 2015 AIP, including the
Company's executive officers.

The amounts earned under the 2015 AIP will be determined based on
achievement of an adjusted EBITDA goal and individual performance
in fiscal year 2015.  The target bonus amounts under the 2015 AIP
for Paula Schneider, the Company's chief executive officer, Hassan
Natha, the Company's chief financial officer, Chelsea Grayson, the
Company's general counsel, and Martin Bailey, the Company's chief
manufacturing officer, are 67%, 50%, 50% and 25% of each such
executive officer's annual base salary, respectively.

On March 30, 2015, the Compensation Committee approved amended
forms of the Restricted Stock Unit Grant Notice and Restricted
Stock Unit Agreement and the Stock Option Grant Notice and Option
Agreement to be used for approved restricted stock unit and option
awards under the 2011 Plan.

On March 30, 2015, the Compensation Committee approved annual
grants of restricted stock units and stock options to the Company's
employees, including its executive officers, under the 2011 Plan.
Each of Ms. Schneider, Mr. Natha, Ms. Grayson and Mr. Bailey were
granted RSUs for 300,000, 150,000, 150,000 and 82,750 shares of the
Company's common stock, respectively, and Options for 300,000,
150,000, 150,000 and 82,750 shares of the Company's common stock,
respectively.  The Options and RSUs will vest, subject to each
executive officer's continued service, over three years, with 1/3
of the total number of shares subject to each award vesting on the
first anniversary of the date of grant.  If the executive officer's
employment is terminated without Cause (as defined in the 2011
Plan) or the executive officer resigns for Good Reason (as defined
in the 2011 Plan) in either case, immediately prior to, on, or
within 12 months after a Change in Control (as defined in the 2011
Plan), and that termination is other than as a result of death or
disability, and provided the executive officer signs, and does not
revoke, the Company's standard form of release of all claims within
60 days after termination, the awards will become fully vested.  In
addition, the Compensation Committee made a one-time RSU grant for
50,000 shares of the Company's common stock to each of Ms.
Schneider, Mr. Natha and Ms. Grayson, in recognition of each
executive officer's service to the Company since her or his date of
hire.  Those RSUs will vest, subject to each executive officer's
continued service, on April 15, 2015.  Each of the RSUs and Options
are subject to the terms of the RSU Form and Option Form.

                        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 reported a net loss of $68.81 million in 2014, a
net loss of $106.29 million in 2013 and a net loss of $37.27
million in 2012.  As of Dec. 31, 2014, American Apparel had $294.38
million in total assets, $409.90 million in total liabilities and a
$115.51 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.


AOXING PHARMACEUTICAL: Regains Compliance with NYSE Rule
--------------------------------------------------------
Aoxing Pharmaceutical Company, Inc. has received notice from NYSE
MKT that Aoxing Pharma has regained compliance with one of the NYSE
MKT LLC's continued listing standards.  Specifically, the Company
has resolved the continued listing deficiency with respect to
Section 1003(a)(iv).  

According to the Exchange's letter dated Oct. 25, 2013, the Company
failed to comply with this rule since it has sustained losses that
are so substantial in relation to its overall operations or its
existing financial resources, or its financial condition has become
so impaired that it appears questionable, in the opinion of the
NYSE MKT, as to whether the Company will be able to continue
operations and/or meet its obligations as they mature.  The Company
is no longer considered financially impaired by the Exchange.

NYSE MKT advised Aoxing Pharma that if its financial condition
worsens, it could again fall below compliance with Section
1003(a)(iv), at which time NYSE MKT would examine the relationship
between the two incidents of noncompliance and re-evaluate Aoxing
Pharma's recovery from the first incident.  In addition, NYSE MKT
reminded Aoxing Pharma that it remains out of compliance with the
following sections of the NYSE MKT Company Guide:

   * Section 1003(a)(i) since it reported stockholders' equity of
     less than $2,000,000 at September 30, 2014 and has incurred
     losses from continuing operations and/or net losses in two of

     its three most recent fiscal years;

   * Section 1003(a)(ii) since it reported stockholders' equity of

     less than $4,000,000 at December 31, 2014 and has incurred
     losses from continuing operations and/or net losses in three
     of its four most recent fiscal years; and

   * Section 1003(a)(iii) since it reported stockholders' equity
     of less than $6,000,000 at December 31, 2014 and has incurred
     losses from continuing operations and/or net losses in its
     five most recent fiscal years.

Based on the plans of compliance submitted by the Company, the
Exchange has granted the Company until April 27, 2015, to regain
compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii).

                           About Aoxing

Aoxing Pharmaceutical Company, Inc., is a Jersey City, New Jersey-
based specialty pharmaceutical company.  The Company is engaged in
the development, production and distribution of pain-management
products, narcotics and other drug-relief medicine.

In its report on the consolidated financial statements for the
year ended June 30, 2014, BDO China Shu Lun Pan Certified Public
Accountants LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company
continues to incur losses from operations, has negative cash flow
from operations and a working capital deficit.

The Company reported a net loss of $8.63 million for the fiscal
year ended June 30, 2014, compared to a net loss of $17.3 million
last year.

The Company's balance sheet at Dec. 31, 2014, showed $40.93 million
in total assets, $38.5 million in total liabilities, and
stockholders' equity of $2.44 million.


AP-LONG BEACH: Has Interim Approval for DIP Financing
-----------------------------------------------------
The U.S. Bankruptcy Court entered an interim order authorizing
AP-Long Beach Airport LLC, to:

   a) obtain postpetition financing pursuant to a $40.5 million
superpriority senior secured term loan credit facility from
Macquarie Bank Limited, as administrative and collateral agent and
lender under the DIP Facility;

   b) grant security interests, liens, mortgages, and superpriority
claims to the DIP Lender;

   c) use cash collateral; and

   d) modify the automatic stay.

The Debtor would use the DIP Facility to (i) ensure that the Debtor
has sufficient working capital and liquidity and can preserve and
maintain the going concern value of the Debtor's estate; (ii)
provide the Debtor with funds to pay off the Prepetition Credit
Facility and avoid foreclosure by the Prepetition Lender; and (iii)
provide the Debtor with a committed source of exit financing to
enable the Debtor to pursue confirmation of a plan of
reorganization.

The Debtor was unable to obtain financing from sources other than
the DIP Lender on terms more favorable than the DIP Facility.

All objections to the DIP Facility or entry of the interim order
were overruled.

The Debtor is represented by

         Alan J. Friedman, Esq.
         Kerri A. Lyman, Esq.
         IRELL & MANELLA LLP
         840 Newport Center Drive, Suite 400
         Newport Beach, California 92660-6324
         Tel: (949) 760-0991
         Fax: (949) 760-5200
         E-mail: afriedman@irell.com
                 klyman@irell.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 $44.6 million in assets and $34.8 million in
liabilities as of the Chapter 11 filing.



ARCHDIOCESE OF MILWAUKEE: Judge Rejects Sexual-Abuse Claims
-----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. Bankruptcy Judge Susan V. Kelley decided
that she was still required to throw out claims filed by a man and
a woman against the Archdiocese of Milwaukee although saying she
has sympathy for the sexual abuse suffered at the hands of clergy.

According to the report, Judge Kelley dismissed the claims as they
were dismissed years earlier in Wisconsin state courts.  The
earlier lawsuits were thrown out under the statute of limitations
because they weren't filed soon enough after the abuse was said to
have occurred, the report said.

                    About Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and was
elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius IX.  The
region served by the Archdiocese consists of 4,758 square miles in
southeast Wisconsin which includes counties Dodge, Fond du Lac,
Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics in
the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wis. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse by
priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to $50
million in its Chapter 11 petition.


AURORA DIAGNOSTICS: Accountant Quits; Form 10-K Delayed
-------------------------------------------------------
McGladrey LLP resigned as the independent public accountant for
Aurora Diagnostics Holdings, LLC on March 26, 2015.  According to a
document filed with the Securities and Exchange Commission, the
resignation was the result of their identification of a prohibited
relationship between an associated entity of McGladrey with an
entity under common control of the Company.  The prohibited
relationship began during the period ended June 30, 2013.

The reports of McGladrey on the Company's consolidated financial
statements for the fiscal years ended Dec. 31, 2012, and 2013 did
not contain an adverse opinion or a disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope or
accounting principles.

Effective March 31, 2015, the Company engaged Crowe Horwath, LLP,
as its principal independent accountants to audit the financial
statements of the Company.  The decision to engage Crowe as the
Company's principal independent accountants was approved by the
Company's Audit Committee.  During the two most recent fiscal years
and any subsequent period prior to engaging Crowe, the Company has
not consulted with Crowe.

            Non-Reliance on Previously Issued Financials

On March 26, 2015, McGladrey also informed the Company that, it
can no longer support and the Company should not rely on (i)
McGladrey's completed interim reviews for the periods ended
June 30, 2013, Sept. 30, 2013, March 31, 2014, June 30, 2014 and
Sept. 30, 2014, with respect to the Company's financial statements
contained in the Company's Form 10-Qs for the quarters then ended
and filed with the Commission on Aug. 12, 2013, Nov. 12, 2013,
May 13, 2014, Aug. 12, 2014, and Nov. 12, 2014, respectively, or
(ii) McGladrey's Report of Independent Registered Public Accounting
Firm dated March 25, 2014, related to its audit of the Company's
consolidated financial statements for the year ended Dec. 31, 2013,
contained in the Form 10-K filed with the Commission on March 25,
2014.  The Company's vice president, controller, and treasurer was
authorized by the Audit Committee to discuss, and did discuss,
these matters with McGladrey.

                         Form 10-K Delayed

As a result of McGladrey's resignation, the Company was unable to
file its annual report on Form 10-K for the year ended Dec. 31,
2014, within the prescribed time period without unreasonable effort
or expense.  The Company remains committed to filing its Form 10-K
at the earliest possible time, but does not currently anticipate
its completion within the fifteen calendar days following the
prescribed due date pursuant to the Exchange Act Rule 12b-25.

                     About Aurora Diagnostics

Headquartered in Palm Beach Gardens, Florida, Aurora Diagnostics
Holdings, LLC, through its subsidiaries, provides physician-based
general anatomic and clinical pathology, dermatopathology,
molecular diagnostic services and other esoteric testing services
to physicians, hospitals, clinical laboratories and surgery
centers.  The company recognized approximately $260 million in
revenue for the 12 months ended June 30, 2013. The company is
majority owned by equity sponsors KRG Capital Partners and Summit
Partners.

Aurora Diagnostics reported a net loss of $73.01 million on
$248.16 million of net revenue for the year ended Dec. 31, 2013,
as compared with a net loss of $160.85 million on $277.88 million
of net revenue for the year ended Dec. 31, 2012.

The Company's balance sheet at Sept. 30, 2014, showed $359
million in total assets, $428 million in total liabilities and
a $68.9 million members' deficit.

                             *   *   *

As reported by the Troubled Company Reporter on Sept. 27, 2013,
Moody's Investors Service downgraded Aurora's Corporate Family
Rating to Caa2 from B3 and Probability of Default Rating to Caa2-
PD from B3-PD.  Moody's also lowered the debt ratings of Aurora
Diagnostics Holdings, LLC's and Aurora Diagnostics, LLC
(collectively Aurora).  Concurrently, Moody's downgraded Aurora's
Speculative Grade Liquidity Rating to SGL-4 from SGL-3. The
outlook for the ratings remains negative.

The downgrade of the ratings reflects Moody's expectation that the
company will see continued difficulty in mitigating a significant
decline in revenue and EBITDA.  This stems from a reduction in
Medicare reimbursement due to a decrease in rates and
sequestration, continued challenging volume growth trends and
threats of additional reimbursement reductions.  This will
negatively impact the company's credit metrics, constrain Aurora's
ability to repay debt and pressure the company's liquidity
position. Moody's also has concerns about the sustainability of
the company's capital structure given its significant debt load
and related interest burden.

In the Aug. 7, 2014, edition of the TCR, Standard & Poor's Ratings
Services raised its corporate credit rating on Palm Beach Gardens,
Fla.-based anatomic pathology services provider Aurora Diagnostics
Holdings LLC to 'CCC+' from 'CCC'.  The outlook is stable.


AURORA DIAGNOSTICS: Obtains Default Waiver From Lenders
-------------------------------------------------------
Aurora Diagnostics Holdings, LLC, has obtained default waiver from
lenders under its July 31, 2014, financing agreement, arising from
the failure of the Company to provide certain financial reporting,
including its audited 2014 financial statements, according to a
document filed with the Securities and Exchange Commission.

Unless the 2014 financial statements are earlier delivered, the
Waiver will expire upon the earlier of June 15, 2015, or the
occurrence of an "Event of Default" under the Company's 10.750%
Senior Notes due 2018.

Cerberus Business Finance, LLC, acts as the administrative agent
and collateral agent under the Financing Agreement.

                      About Aurora Diagnostics

Headquartered in Palm Beach Gardens, Florida, Aurora Diagnostics
Holdings, LLC, through its subsidiaries, provides physician-based
general anatomic and clinical pathology, dermatopathology,
molecular diagnostic services and other esoteric testing services
to physicians, hospitals, clinical laboratories and surgery
centers.  The company recognized approximately $260 million in
revenue for the 12 months ended June 30, 2013. The company is
majority owned by equity sponsors KRG Capital Partners and Summit
Partners.

Aurora Diagnostics reported a net loss of $73.01 million on
$248.16 million of net revenue for the year ended Dec. 31, 2013,
as compared with a net loss of $160.85 million on $277.88 million
of net revenue for the year ended Dec. 31, 2012.

The Company's balance sheet at Sept. 30, 2014, showed $359
million in total assets, $428 million in total liabilities and
a $68.9 million members' deficit.

                             *   *   *

As reported by the Troubled Company Reporter on Sept. 27, 2013,
Moody's Investors Service downgraded Aurora's Corporate Family
Rating to Caa2 from B3 and Probability of Default Rating to Caa2-
PD from B3-PD.  Moody's also lowered the debt ratings of Aurora
Diagnostics Holdings, LLC's and Aurora Diagnostics, LLC
(collectively Aurora).  Concurrently, Moody's downgraded Aurora's
Speculative Grade Liquidity Rating to SGL-4 from SGL-3. The
outlook for the ratings remains negative.

The downgrade of the ratings reflects Moody's expectation that the
company will see continued difficulty in mitigating a significant
decline in revenue and EBITDA.  This stems from a reduction in
Medicare reimbursement due to a decrease in rates and
sequestration, continued challenging volume growth trends and
threats of additional reimbursement reductions.  This will
negatively impact the company's credit metrics, constrain Aurora's
ability to repay debt and pressure the company's liquidity
position. Moody's also has concerns about the sustainability of
the company's capital structure given its significant debt load
and related interest burden.

In the Aug. 7, 2014, edition of the TCR, Standard & Poor's Ratings
Services raised its corporate credit rating on Palm Beach Gardens,
Fla.-based anatomic pathology services provider Aurora Diagnostics
Holdings LLC to 'CCC+' from 'CCC'.  The outlook is stable.


BANK OF THE CAROLINAS: Posts $10.4 Million Net Income in 2014
-------------------------------------------------------------
Bank of the Carolinas Corporation filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing net
income available to common stockholders of $10.4 million on $14.65
million of total interest income for the year ended Dec. 31, 2014,
compared to a net loss available to common stockholders of $2.33
million on $15.2 million of total interest income for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $385 million in total assets,
$338 million in total liabilities, and $47.1 million in total
stockholders' equity.

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

                        http://is.gd/cAbyHc

                    About Bank of the Carolinas

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

                            *    *    *

This concludes the Troubled Company Reporter's coverage of Bank of
the Carolinas until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


BOX SHIPS: Deloitte Greece Expresses Going Concern Doubt
--------------------------------------------------------
Box Ships Inc. filed with the U.S. Securities and Exchange
Commission on March 23, 2015, its annual report on Form 20-F for
the year ended Dec. 31, 2014.

Deloitte Hadjipavlou, Sofianos & Cambanis S.A. expressed
substantial doubt about the Company's ability to continue as a
going concern, citing the Company's expected inability to comply
with certain financial covenants in 2015, under its current loan
agreements, as well as the uncertainty relating to the extension or
refinancing of a loan maturing in 2015.

The Company reported net income of $2.62 million on $49.9 million
of net revenues for the year ended Dec. 31, 2014, compared with net
income of $15.3 million on $69.8 million of net revenues in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $398 million
in total assets, $141 million in total liabilities, and
stockholders' equity of $257 million.

A copy of the Form 20-F is available at:
                              
                       http://is.gd/tcx98w
                          
Box Ships Inc. is an Athens, Greece-based international shipping
company specializing in the transportation of containers.  The
Company's current fleet consists of nine containerships with a
total carrying capacity of 43,925 TEU and a TEU weighted average
age of 8.2 years.  The Company's shares trade on the New York
Stock Exchange under the symbol "TEU."


BPZ RESOURCES: Amends Application to Hire Hawash Meade
------------------------------------------------------
BPZ Resources, Inc., asks the Bankruptcy Court to enter an amended
order authorizing the employment Hawash Meade Gaston Neese & Cicack
LLP as local bankruptcy counsel.  On March 11, 2015, the Court
granted the application.

The Court will convene a hearing on April 7, 2015, at 9:00 a.m., to
consider the matter.

According to the Debtor, subsequent to the filing of the
application, the U.S. Trustee requested that the order granting the
application to employ HMGNC include: (i) a provision concerning the
division of work between HMGNC and Debtor's lead bankruptcy
counsel, Stroock & Stroock & Lavan LLP; and (ii) HMGNC's
acknowledgment that it must comply with the applicable bankruptcy
code section, bankruptcy rules, local bankruptcy rules and
guidelines concerning larger chapter 11 cases in connection with
its interim and final fee applications.

The Debtor has drafted an amended order that complies with the U.S.
Trustee's request.

The March 11 order authorized the Debtor to employ HMGNC to provide
all necessary legal services to the Debtor effective as of
March 9, 2015.  HMGNC is working with the Debtor's lead bankruptcy
counsel, Stroock & Stroock & Lavan LLP.

HMGNC will handle matters the Debtor may encounter that cannot be
appropriately handled by Stroock because of a conflict of interest
or, alternatively, that can be more efficiently handled by HMGNC.

Walter J. Cicack is designated as attorney-in-charge for the
representation by HMGNC of the Debtor in the case.  

HMGNC is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The Debtor is represented by:

        Walter J. Cicack, Esq.
        HAWASH MEADE GASTON NEESE & CICACK LLP
        2118 Smith Street
        Houston, TX 77002
        Tel: (713) 658-9001
        Fax: (713) 658-9011

        Kristopher M. Hansen, Esq.
        Frank A. Merola, Esq.
        Matthew G. Garofalo, Esq.
        STROOCK & STROOCK & LAVAN LLP
        180 Maiden Lane
        New York, NY 10038
        Tel: (212) 806-5400
        Fax: (212) 806-6006

                        About BPZ Resources

BPZ Energy -- http://www.bpzenergy.com/-- which trades as BPZ  
Resources, Inc., under ticker symbol BPZ on the New York Stock
Exchange and the Bolsa de Valores in Lima, is an independent oil
and gas exploration and production company which has license
contracts covering 1.9 million net acres in offshore and onshore
Peru.  BPZ Resources maintains an office in Victoria, Texas, and
through its subsidiaries maintains offices in Lima and Tumbes,
Peru, and Quito, Ecuador.

BPZ Resources sought Chapter 11 protection (Bankr. S.D. Tex. Case
No. 15-60016) in Victoria, Texas, on March 9, 2015.  The case is
pending before the Honorable David R. Jones.

The Debtor has tapped Stroock & Stroock & Lavan LLP as bankruptcy
counsel, Hawash Meade Gaston Neese & Cicack LLP, as local Texas
counsel, Houlihan Lokey Capital, Inc., as investment banker, Baker
Hostetler, as the audit committee's special counsel; and Kurtzman
Carson Consultants as claims and noticing agent.

The Debtor disclosed total assets of $364 million and debt of
$275 million.


BREF HR: Delays 2014 Form 10-K Report
-------------------------------------
BREF HR, LLC disclosed in a regulatory filing with the Securities
and Exchange Commission it was not able to file its annual report
on Form 10-K for the year ended Dec. 31, 2014, within the
prescribed time due, as the Company experienced unanticipated
delays in compiling certain information necessary in order to
complete its audit in a timely manner and thereby prepare a
complete filing of its Form 10-K.  The Company expects to file its
Form 10-K as soon as it has completed its audit and, in accordance
with Rule 12b-25 of the Securities and Exchange Act of 1934, as
amended, no later than the fifteenth calendar day following the
prescribed due date.

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

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

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

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


BREVARD COLLEGE: Fitch Ups Rating on $10MM Series 2007 Bonds to BB-
-------------------------------------------------------------------
Fitch Ratings has upgraded to 'BB-' from 'B+' the rating on
approximately $10.1 million of series 2007 North Carolina Capital
Facilities Finance Agency educational facilities revenue refunding
bonds, issued on behalf of Brevard College Corporation (Brevard).
The Rating Outlook is revised to Stable from Positive.

SECURITY

The bonds are a general obligation of the college, payable from all
legally available funds.

KEY RATING DRIVERS

IMPROVING FINANCIAL OPERATIONS: The rating upgrade reflects four
years of positive GAAP operating margins, and the lifting of the
college's accreditation probation in July 2014.

NET TUITION REVENUE GROWTH: Increased enrollment in fall 2012 and
2013 has supported net tuition revenue growth, although it remains
pressured by scholarship discounts. Enrollment remained small but
stable at 705 students in fall 2014 (fiscal 2015), with management
projecting modest enrollment growth for fall 2015 (fiscal 2016).
The college's small size and limited balance sheet heighten its
vulnerability to demand shifts and enrollment volatility.

LIMITED BALANCE SHEET: Brevard's fiscal 2014 balance sheet ratios,
measured per Fitch criteria, improved but remain very low.

MANAGEABLE DEBT BURDEN: The college's pro forma maximum annual debt
service (MADS) debt burden, including a planned $6.38 million USDA
loan for student housing, is high to moderately high at 7.6% of
fiscal 2014 revenues. Estimated MADS coverage, however, remained
solid at about 3.0x. For the last five fiscal years, MADS coverage
of level debt service has been positive.

RATING SENSITIVITIES

ENROLLMENT TRENDS: Enrollment declines combined with failure to
grow net tuition revenue could result in a negative rating action.

BALANCE SHEET: Low balance sheet ratios continue to constrain
Brevard's rating; weakening in balance sheet ratios could cause a
negative rating action.

ADDITIONAL DEBT MANAGEABLE: Brevard's debt level remains manageable
including a USDA loan for student housing - which management
expects will be financially self-supporting. However, Fitch views
the college as having very limited additional debt capacity at this
time. Positive GAAP operating margins and solid debt service
coverage are needed to support the rating.

CREDIT PROFILE

Brevard is a small four-year, private liberal arts college located
on 120 acres in Brevard NC, about 140 miles west of Charlotte, NC
and about 30 miles southeast of Asheville, NC. All students are
undergraduates, and most attend full-time. The college's mission is
to provide students a distinctive, experiential learning
experience. Brevard is known for its performing arts programs and
environmental sciences.

The college was founded in 1853 as a two-year institution, and
became a four-year institution in 1995. It is affiliated with the
United Methodist Church. The Southern Association of Colleges and
School - Commission on Colleges (SACS-COC) removed Brevard from
probation in July, 2014, which action Fitch regards positively. The
probation began in June 2013 due to financial stress; the current
10-year accreditation runs through 2021.

ENROLLMENT DRIVES OPERATIONS

Enrollment increased in both fall 2012 and 2013 to a headcount of
701, and then stabilized at 705 students in fall 2014. The college
had expected growth, and continues to focus on modest annual
enrollment increases. Brevard's strategic plan has a goal of
building to 1,000 students by fall 2019, which Fitch views as
somewhat aggressive. Brevard's operating revenues remain heavily
reliant on student revenues, typically about 74%, which is similar
to other small liberal arts colleges.

After dropping to a low of 627 headcount students in fall 2011,
enrollment gradually improved to 701 in fall 2013. This increase
was supported by a record fall 2013 entering freshman class of 308
students, well above the 225-273 class sizes realized in the prior
four years. The fall 2014 entering class was below expectations at
288, but still stronger than most recent years. Management reports
that fall 2015 admissions indicators (applications, deposits,
campus visits) are again at record levels, and that there is
significant focus on matriculating students and growing net tuition
revenue through financial aid strategies, encouraging campus
visits, and various communication strategies.

Enrollment improvement is largely attributable to strategies
focusing on new-student 'fit' at the college, as well as retention
initiatives. The college's freshman-sophomore retention rate has
been improving, but remains low at about 59% in fall 2014.

Fitch views the ability to successfully achieve both enrollment
growth and increases in net tuition revenue as determining
operating success long term. The upgrade recognizes multi-year
progress on enrollment, net tuition revenue growth and positive
operating performance, and expectations that such performance will
remain stable in fiscal years 2015 and 2016.

POSITIVE OPERATING PERFORMANCE

GAAP operating results were positive in the last four years, and
help support the rating upgrade. Fiscal 2014 operating results were
a solid $2.1 million (12% margin), supported by enrollment growth
and increased net tuition revenue.

This compared to a $2.9 million operating surplus in fiscal 2013,
which Fitch does not consider to be a direct comparison, as it
includes recognition of an estimated $2.5 million non-cash bequest.
When adjusted for the bequest, the 2013 margin is close to
break-even at $479,000 (0.2% margin). The margin in fiscal 2012 and
2011 was also near break-even. Management has exercised significant
expense management during the last several fiscal years, including
salary reductions and freezes, curtailment of retirement matching
contributions, and maintaining position vacancies.

In 2014, the college provided modest salary increases and began
making strategic investments in plant and programs. However, Fitch
understands no new faculty positions have been added, and no salary
increases were awarded in fiscal 2015. Controlling tuition discount
remains a significant challenge given Brevard's highly competitive
and cost-conscious market - the undergraduate discount rate remains
high at nearly 50%.

Positively, Brevard's operating budgets have contained both
contingency and working capital reserves, and use conservative
enrollment assumptions. Management projects positive GAAP operating
results for fiscal 2015, consistent with fiscal 2014, even with
flat enrollment and similar discounting. To maintain the rating
going forward, Fitch expects positive operating margins to be
sustained.

WEAK AVAILABLE FUNDS

Brevard's balance sheet remains very weak, providing minimal
financial cushion. At May 31, 2014, available funds (AF), defined
by Fitch as cash and investments less permanently restricted net
assets, improved to $2.6 million from slightly less than $1 million
in fiscal 2013. This resulted in two consecutive years that the AF
value was positive. However, balance sheet strength remains very
weak.

Fiscal 2014 AF was only 16.6% of operating expenses and 14.6% of
pro forma debt ($18 million including the USDA student housing
loan). The college has about $23.5 million of endowment, almost all
of which is restricted and thus is not included in the AF
calculation. Fitch views Brevard's balance sheet as severely
limited.

Brevard's AF ratios are expected to increase in calendar 2015 when
an unrestricted bequest - for which related litigation has been
resolved - is distributed. Auditors estimated the cash portion of
the bequest to the college at $2.5 million in fiscal 2013. Fitch
notes that while Brevard's balance sheet cushion would improve, it
remains slim.

DEBT BURDEN REMAINS MANAGEABLE

Brevard's series 2007 bonds are fixed rate with level debt service,
maturing fairly rapidly by 2027. In 2014, the college entered into
a maximum $6.38 million, 4% interest rate, USDA loan to build a new
84-bed student residence hall. It expects to start drawing down on
the loan in calendar 2015. Fitch estimates pro forma debt at $18
million (including some leases), and pro forma MADS at $1.37
million (up from $1.03 million).

Outstanding MADS was a moderate 5.8% of fiscal 2014 operating
revenues. On a pro forma basis that increases to about 7.6%, which
Fitch considers high-to moderately high. Positively, the residence
project is expected to be self-supporting, housing students
currently living in off-campus space rented by the college.

Brevard maintains a $1.5 million bank line of credit for operating
cash flow. Additionally, the college's fiscal 2014 and 2015 budgets
each provided $250,000 to build working cash and reduce dependence
on the bank line, which Fitch views favorably. Management projects
that part of the budgeted cash reserve will be available at the end
of fiscal 2015, and reports that a $250,000 reserve will again be
included in the fiscal 2016 budget.

POSITIVE DEBT SERVICE COVERAGE

Brevard has posted positive debt service coverage for the last four
fiscal years, including fiscal 2014. Pro forma MADS coverage was
2.9x in fiscal 2014. This compares to 1.9x in fiscal 2013 (adjusted
for a non-cash bequest), 3.0x in fiscal 2012, and 2.2x in fiscal
2011. Pro forma MADS coverage is expected to be positive in the
current 2015 budget year.



BRUSH CREEK: Plan Confirmation Hearing Commences June 2
-------------------------------------------------------
The U.S. Bankruptcy Court will convene a two-day hearing for June 2
to 3, 2015, to consider the confirmation of Brush Creek Airport,
LLC's Fourth Amended Plan of Reorganization.  Objections, if any,
are due May 24.

Following a hearing March 18, 2015, Judge Michael E. Romero,
approved the Disclosure Statement explaining the terms of the
Plan.

On March 30, the Plan Proponent will transmit by mail to all
creditors and parties-in-interest whose votes are to be solicited,
the Plan and Disclosure Statement.   Ballots accepting or rejecting
the Plan must be submitted by 5:00 p.m. on May 24.

As reported in the Troubled Company Reporter on March 13, 2015, the
Debtor filed a Fourth Amended Plan, which provides that the Plan
will be funded by proceeds from the sale lots in the Buckhorn Ranch
Subdivision and the operation of the Upper East River Water
Company.

All classes of claims are impaired.  Under the Plan, the
Reorganized Debtor will satisfy the secured claims either from the
proceeds of the sale of the lots securing the claims or out of the
proceeds generated by the collateral securing those claims.

Pursuant to an amended settlement agreement, the Debtor and
Buckhorn Ranch Association, Inc., which holds the only general
unsecured claim against the Debtor, agreed to completely release
and waive any existing claims against one another except as stated
in the settlement agreement.  The Debtor also agrees to begin
paying its ordinary dues and assessment to the Association
beginning on Jan. 1, 2015, in the approximate amount of $11,640.

The Bankruptcy Court has set March 16, 2015, as deadline for
parties to file their objections to the disclosure statement
explaining the Debtor's amended Chapter 11 plan.

A full-text copy of the Disclosure Statement dated March 10, 2015,
is available at http://bankrupt.com/misc/BRUSHCREEKds0310.pdf

                    About Brush Creek Airport

Brush Creek Airport, LLC, is the real estate developer of the
Buckhorn Ranch Subdivision in unincorporated Gunnison County, near
Crested Butte, Colorado. The Buckhorn Ranch Subdivision consists
of
249 lots and features a private airstrip and fishing and
recreational licenses for a portion of the Upper East River.  It
owns 97 improved lots in the Buckhorn Ranch Subdivision that are
available for construction, but upon which no homes have been
built.  It also owns the Upper East River Water Company, LLC, which
provides water taps for lots and water services for homes in the
subdivision.

Brush Creek Airport, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Col. Case No. 14-14630) in Denver on April 10, 2014.
The Debtor estimated assets of $10 million to $50 million and debt
of $1 million to $10 million.

The Debtor has employed Sender Wasserman Wadsworth, P.C. as counsel
and 5280 Accounting Services, LLC as accountants and bookkeepers.


BURLINGTON STORES: S&P Raises Corp Credit Rating to 'B+'
--------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on New Jersey-based off-price retailer Burlington Stores
Inc. to 'B+' from 'B'.  The outlook is positive.

At the same time, S&P raised its issue-level rating on the
asset-based lending (ABL) facility to 'BB' from 'BB-'.  S&P also
raised its issue-level rating on the secured term loan to 'BB-'
from 'B+'.  The recovery ratings on both facilities are unchanged.

"The positive outlook reflects our view that Burlington continues
to benefit from good execution of strategic initiatives implemented
in recent years, including enhanced inventory flow, store
improvement, and merchandise localization," said credit analyst
Andy Sookram.  "These initiatives propelled the improvement in
credit metrics at year-end 2014 with leverage improving to 4.1x
from 4.8x during the same period a year ago. Moreover, Bain Capital
has recently exited its investment in Burlington Stores, supporting
our view that there is less likelihood that the company will
recapitalize its balance sheet at higher leverage levels (and our
reassessment of its financial policy to "neutral" from "FS-6")."

The positive rating outlook reflects S&P's view that credit metrics
should improve in line with its expectations because of good
execution of operational initiatives.

Downside scenario

S&P could revise the outlook to stable if profits decline and
leverage remains above 4x.  This could occur if the company
reinvests in pricing because of stiffer competition or marks down
inventory because of merchandise missteps.  In this scenario, S&P
could see same-store comparisons declining to negative levels.

Upside Scenario

S&P could raise the ratings if the company demonstrates the ability
to further improve performance consistent with its expectations.
S&P expects EBITDA margins to improve to 14.6% and leverage
declining in the high-3x area.  If S&P decides to raise the
ratings, it would remove the negative comparable ratings analysis
adjustment because S&P has confidence the company will maintain
credit metrics consistent with a one-notch higher rating. In this
scenario, S&P would need to see good same-store sales comparison,
improving EBITDA margins and leverage sustained below 4x.



CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 9% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
91.03 cents-on-the-dollar during the week ended Friday, April 3,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.46 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
March 1, 2017, and carries Moody's withdraws its rating and
Standard & Poor's D rating.  The loan is one of the biggest gainers
and losers among 265 widely quoted syndicated loans with five or
more bids in secondary trading for the week ended Friday.



CAREFREE WILLOWS: Proceedings on Fifth Amended Plan Stayed
----------------------------------------------------------
U.S. Bankruptcy Judge Mike Nakagawa has issued an order to clarify

that "all further proceedings with respect to the Debtor's
proposed Fifth Amended Plan of Reorganization are STAYED pending
further order of this court."

On July 16, 2014, the Court held a status conference in the
Debtor's bankruptcy proceeding.  The Court considered the competing
plans filed by the Debtor and by creditor AG/ICC Willows
Loan Owner, L.L.C.  At the status conference, counsel appeared on
behalf of the Debtor, well as for AG and for various guarantors of
a promissory note held by AG.

A good faith objection was raised by AG in connection with the
Debtor's proposed plan filed on June 4.

The Debtor's Plan provides that, upon confirmation, all property
of the estate of the Debtor will be re-vested in the Debtor which
will retain property as the Reorganized Debtor free and clear of
all claims and interests of the creditors.  A copy of the Fifth
Amended Plan is available for free at
http://bankrupt.com/misc/CAREFREEWILLOWS_1186_5plan.pdf

                      About Carefree Willows

Carefree Willows LLC is the owner of a 300-unit senior housing
complex, located 3250 S. Town Center Drive, in Las Vegas, Nevada.
Carefree Willows filed a Chapter 11 petition (Bankr. D. Nev. Case
No. 10-29932) on Oct. 22, 2010.  The Debtor disclosed $30.6 million
in assets and $36.5 million in liabilities as of the Chapter 11
filing.

The Law Offices of Alan R. Smith, in Reno, Nevada, serves as
counsel to the Debtor.  AG/ICC Willows Loan Owner, LLC, is
represented in the case by Ali M.M. Mojdehi, Esq., Allison Rego,
Esq., Janet Dean Gertz, Esq., at COOLEY LLP.



CENTRAL EUROPEAN MEDIA: Deloitte Expresses Going Concern Doubt
--------------------------------------------------------------
Central European Media Enterprises Ltd. filed with the U.S.
Securities and Exchange Commission its annual report on Form 10-K
for the year ended Dec. 31, 2014.

Deloitte LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company is
required to fund certain debt service obligations in the next 12
months.

The Company reported a net loss of $232 million on $681 million of
net revenues for the year ended Dec. 31, 2014, compared with a net
loss of $282 million on $633 million of net revenues in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $1.62 billion
in total assets, $1.12 billion in total liabilities, $224 million
in convertible redeemable preferred stock, and total stockholders'
equity of $227 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/nbtAH9
                          
CME, a Bermuda-incorporated company, is a media and entertainment
company with businesses in six Central and Eastern European (CEE)
countries: the Czech Republic, Romania, Slovakia, Slovenia,
Croatia and Bulgaria. Launched in 1994, CME currently operates 35
TV channels in those countries. In the year ended December 31,
2012, CME reported net revenues of US$772 million and OIBDA of
US$125 million.


CHARTER COMMUNICATIONS: Fitch Puts 'BB-' IDR on Watch Positive
--------------------------------------------------------------
Fitch Ratings has placed the 'BB-'Issuer Default Rating (IDR)
assigned to CCO Holdings, LLC (CCOH) and Charter Communications
Operating, LLC (CCO) on Rating Watch Positive. Each of CCOH and CCO
are indirect wholly owned subsidiaries of Charter Communications,
Inc. (Charter).

Approximately $14.1 billion of debt (principal value - excluding
the debt issued by CCOH Safari, LLC and CCO Safari, LLC)
outstanding as of Dec. 31, 2014 is affected by Fitch's action.

Fitch's action follows Charter's announcement that it has entered
into definitive agreements to acquire Bright House Networks, LLC
(Bright House) from Advance/Newhouse Partnership (A/N) for $10.4
billion. Fitch believes that the proposed transaction will de-lever
Charter's balance sheet after considering both the current
transaction and the previously announced transactions with Comcast
Corporation. Fitch estimates that Charter's leverage declines to
approximately 4x on a pro forma basis as of the LTM period ended
Dec. 31, 2014. Moreover the transaction strengthens Charter's
overall competitive position by increasing scale and improving its
subscriber clustering profile, enabling greater operating
efficiencies and creating a stronger platform for growth.

The acquisition will be effected through a partnership of which
Charter will control 73.7% ownership and A/N will retain 26.3%
ownership. Total consideration to be paid to A/N by Charter
includes $5.9 billion of common units, and $2.5 billion of
convertible preferred units in the partnership, in addition to $2
billion of cash. Finally, Liberty Broadband Corporation has agreed
to purchase $700 million of Charter common stock upon close of the
transaction. The partnership units owned by A/N are exchangeable
into Charter common stock. The transaction is subject to several
conditions, including among others, Charter shareholder approval,
the expiration of Time Warner Cable's right of first offer for
Bright House, the close of Charter's previously announced
transactions with Comcast, and regulatory approval.

KEY RATING DRIVERS:

-- Fitch believes the acquisition of Bright House will strengthen
   Charter's overall credit profile. Fitch anticipates that
   Charter's leverage, pro forma for the contemplated transactions

   will decline to approximately 4x;

-- The proposed transaction will increase Charter's scale and
   improve operating efficiencies and subscriber clustering
   profile.

In total, Fitch views the acquisition of Bright House along with
the previously announced transactions with Comcast positively. The
combination creates the second largest cable MSO in the country
(assuming Comcast's proposed merger with TWC closes) with 7.6
million video subscribers owned by Charter and 10.1 million video
subscribers after considering the Greatland Connections assets
managed by Charter. The transactions improve Charter's subscriber
clustering, enabling greater operating efficiencies and creating a
stronger platform for growth. The Bright House acquisition adds
approximately 2 million video customers in markets largely
contiguous with Charter's existing service footprint and adds
attractive markets such as Orlando and Tampa Bay Florida. Fitch
notes, however, that integration risks are elevated and Charter's
ability to manage the integration process and limit disruption to
the company's overall operations is key to the success of the
transactions.

Charter's operating strategies are having a positive impact on the
company's operating profile resulting in a strengthened competitive
position. The market share-driven strategy, which is focused on
enhancing the overall competitiveness of Charter's video service
and leveraging its all-digital infrastructure, is improving
subscriber metrics, growing revenue and ARPU trends, and
stabilizing operating margins.

Charter's leverage as of the LTM ended Dec. 31, 2014 was 4.4x
excluding the debt issued by CCOH Safari, LLC and CCO Safari, LLC.
Management's leverage target remains unchanged ranging between 4x
and 4.5x. The pro forma leverage coupled with the improving
operating profile is reflective of a 'BB' IDR. Fitch has previously
indicated that positive rating actions would likely coincide with
leverage expected to be sustained below 4.5x while demonstrating
progress in closing gaps relative to its industry peers on service
penetration rates and strategic bandwidth initiatives.

The company's liquidity position is primarily supported by
available borrowing capacity from its $1.3 billion revolver and
anticipated free cash flow generation. Commitments under the
company's revolver will expire on April 22, 2018. As of Dec. 31,
2014, approximately $817 million was available for borrowing.
Near-term scheduled maturities consist of $91 million scheduled to
mature during 2015 followed by $127 million during 2016.
Approximately $1.1 billion of debt is scheduled to mature during
2017.

Resolution of the Rating Watch will largely be based on Fitch's
review of Charter's capital structure including assignment of
potential equity credit to the convertible preferred partnership
units and an assessment of the risks associated with Charter's
ability to integrate cable systems acquired from Comcast and Bright
House.

RATING SENSITIVITIES:

   -- Positive rating actions would be contemplated as leverage is

      expected to remain below 4.5x;

   -- If the company demonstrates progress in closing gaps
      relative to its industry peers on service penetration rates
      and strategic bandwidth initiatives;

   -- Operating profile strengthens as the company captures
      sustainable revenue and cash flow growth envisioned when
      implementing the current operating strategy.

   -- Fitch believes negative rating actions would likely coincide

      with a leveraging transaction or the adoption of a more
      aggressive financial strategy that increases leverage beyond

      5.5x in the absence of a credible deleveraging plan;

   -- Adoption of a more aggressive financial strategy;

   -- A perceived weakening of Charter's competitive position or
      failure of the current operating strategy to produce
      sustainable revenue and cash flow growth along with
      strengthening operating margins.

Fitch has placed the following ratings on Rating Watch Positive:

CCO Holdings, LLC

   -- IDR 'BB-';
   -- Senior unsecured debt 'BB-'.

Charter Communications Operating, LLC

   -- IDR 'BB-';
   -- Senior secured credit facility 'BB+'.



CLOUDEEVA INC: First Tek-Led Auction Today
------------------------------------------
U.S. Bankruptcy Judge Kathryn Ferguson has approved the Chapter 11
Trustee's proposed bidding procedures governing the sale of
substantially all the asset of Cloudeeva, Inc., to First Tek, Inc.,
absent higher and better offers.

The Chapter 11 Trustee notes that the Debtor is in a service
business.  The Debtor's employees and customer relationships are a
significant part of the value of the Purchased Assets.  Unless and
until the employees know with certainty, who their potential
employer will be; and employees and customers agree to continue
their relationships with the Debtor going forward, employee and
customer attrition remain a significant risk to the value of the
Purchased Assets.  The Trustee has consulted with many of the
Debtor's critical employees and customers and believes that they
will broadly support the proposed sale.

The salient terms of the Asset Purchase Agreement are:

A. Purchase Price: $5,600,000, all cash subject to higher or
   better offers.

B. Assets: Pursuant to the Asset Purchase Agreement the Trustee
   would sell all of the Debtor's right, title and interest as of
   the Closing Date in and to substantially all of the Debtor's
   operating assets.

C. Free and Clear: Other than any Assumed Liabilities the sale
   would be made free and clear of liens, claims, encumbrances and

   interests with such liens, claims, encumbrances and interests
   to attach to proceeds with the extent, validity and priority
   they would otherwise have under the Bankruptcy Code and
   applicable law.  However, the undisputed balance due to
   Prestige Capitol Corporation, the Post-Petition Factor, would
   be paid at Closing.

D. Closing: The Trustee proposes to close the transaction no later

   than May 15, 2015.

E. Representations and warranties: The Asset Purchase Agreement
   contains standard representations and warranties for a
   transaction of this nature by a Trustee.

The auction will be held on Apr. 7, 2015, at 10:00 a.m. (prevailing
Eastern Time), at the offices of CohnReznick.  The Sale Approval
Hearing is to be held on April 9, 2015 at 2 p.m. (prevailing
Eastern Time).

Judge Ferguson also approved the Termination Fee and Reimbursement
Amount not to exceed $50,000 to reimburse the Buyer for its
reasonable risks, costs and expenses incurred in connection with
its entry into the Asset Purchase Agreement and making its bid.
                      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.



COCRYSTAL PHARMA: Reports $99,000 Net Loss for 2014
---------------------------------------------------
Cocrystal Pharma, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$99,000 on $9,000 of grant revenues for the year ended Dec. 31,
2014, compared to a net loss of $3.88 million on $0 of grant
revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $259 million in total assets,
$74.4 million in total liabilities, $178 million in series A
convertible preferred stock, and $6.65 million in total
stockholders' equity.

The Company had cash and cash equivalents of approximately $4
million as of Dec. 31, 2014.  In addition to the $4 million of cash
and cash equivalents, the Company also held MusclePharm common
stock with a fair value of $2 million as of Dec. 31, 2014, which
are held in escrow pending resolution of the matters.

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

                        http://is.gd/MMxaMi

                       About Cocrystal Pharma

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

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


CONE INVESTMENT: Mill in Lane County Sold to Zip-O-Log for $1.55M
-----------------------------------------------------------------
Elon Glucklich at The Register-Guard reports that Cone Investment
Limited Partnership's century-old, long-idled lumber mill in
Goshen, Lane County, Oregon, was sold to Zip-O-Log Mills for $1.55
million.

"We're happy to get this thing sold.  It's time to pop champagne
corks," The Register-Guard quoted David Mills, Esq., the attorney
for Thomas Huntsberger, the trustee in the Cone bankruptcy case, as
saying.

Mr. Huntsberger, according to The Register-Guard, was tasked with
collecting more than $3 million R.B. Cone owed to various
creditors, chief among them siblings Barbara Sherman, Doug Cone and
Greg Cone, who manage a separate family entity.  The report says
that R.B. Cone became embroiled in a bitter legal feud with his
three siblings, who claimed that R.B. secretly withdrew millions of
dollars from family accounts for car purchases, country club dues,
vacations and personal insurance costs.

The Register-Guard quoted David Wade, Esq., the attorney for R.B.
Cone's siblings as saying, "Obviously we would have wanted more
money and fewer (reductions).  But we're pleased the deal has
finally closed."

Headquartered in Eugene, Oregon, Cone Investment Limited
Partnership, a business entity used by R.B. Cone to manage the
Goshen mill and Greenhill business park, filed for Chapter 11
bankruptcy protection (Bankr. D. Ore. Case No. 11-63279) on June
30, 2011, estimating its assets and debts at between $1 million and
$10 million each.  The petition was signed by Richard B. Cone,
director of Coman, Inc, Debtor's general partner.  Keith Y. Boyd,
Esq., at The Law Offices of Keith Y. Boyd serves as the Company's
bankruptcy counsel.  Judge Frank R. Alley III presides over the
case.

Elon Glucklich at The Register-Guard reports that the Company's
Chapter 11 case was converted to a Chapter 7 liquidation in 2012.


CONNACHER OIL: Bid to Restructure in Canada Denied
--------------------------------------------------
Tiffany Kary and Rebecca Penty, writing for Bloomberg News,
reported that Connacher Oil & Gas Ltd.'s bid to restructure out of
court in Canada was rejected as it struggles to cope with falling
energy prices.

According to the report, Connacher, an oils-sands developer, was
seeking an Alberta court's approval to swap C$1 billion (US$796
million) of bonds for equity and to issue $35 million of
convertible notes.  Credit Suisse Group AG, an agent to
unidentified lenders, sued to disrupt the deal in New York state
court, saying the Canadian court couldn't rule on the issue because
Connacher defaulted on a $128 million loan, which is a more senior
form of debt, the report related.

The Court of Queen's Bench of Alberta held a final meeting last
week to consider Connacher's plan.  The restructuring proposal was
denied in a Calgary court, the report said, citing the company and
two lawyers representing Credit Suisse, Kevin Zych and Anthony
Friend.

                         About Connacher

Connacher is a small exploration & production company that operates
two steam assisted gravity drainage oil sands projects in Alberta,
currently producing about 13,400 barrels per day net of royalties.

                          *     *     *

The Troubled Company Reporter, on March 10, 2015, reported that
Moody's Investors Service downgraded Connacher's Probability of
Default Rating to 'C-PD/LD' from 'Ca-PD' and its Corporate Family
Rating to 'C' from 'Ca'.  Moody's appended the limited default or
"LD" designation to Connacher's PDR to reflect the company's
failure to make the interest payments with respect to its second
lien notes within the 30 day grace period under the indentures,
from Feb. 2, 2015, when the interest became payable.  Moody's also
affirmed the second lien notes rating of 'Ca'.  The Speculative
Grade Liquidity Rating of SGL-4 remains unchanged.  The outlook
remains negative.

The TCR, on Feb. 4, 2015, reported that Standard & Poor's Ratings
Services said it lowered its long-term corporate credit rating and
debt issue ratings on Connacher to 'D' from 'CC', following the
Company's announcement of its proposed recapitalization, in which
the company intends to exchange its existing C$350 million and
US$550 million senior secured second-lien debt (plus accrued
interest) for equity.


CONVERGYS CORP: S&P Affirms 'BB+' CCR; Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services said it affirmed all ratings,
including its 'BB+' corporate credit rating, on Cincinnati-based
Convergys Corp.  The outlook is stable.

At the same time, S&P affirmed its 'BB+' issue-level rating and '3'
recovery rating on the company's unsecured credit facilities,
consisting of a $350 million term loan A ($261 million outstanding)
due 2019 and a $300 million revolving credit facility due 2019.
The '3' recovery rating indicates S&P's expectation of substantial
(50% to 70%; higher half of the range) recovery for lenders in the
event of default.

In addition, S&P affirmed its 'BB-' issue-level rating and '6'
recovery rating on the company's $125 million of convertible
debentures due 2029.  The '6' recovery rating indicates S&P's
expectation for negligible (0%-10%) recovery for lenders in the
event of default.

"Our assessment of Convergys' business risk profile reflects the
company's global scale as the No. 2 customer management outsourcing
provider by revenue," said Standard & Poor's credit analyst Michael
Altberg.

The stable outlook reflects the company's solid operating
performance and debt repayment in 2014, and S&P's expectation that
leverage will decline to the low-1x area in 2015.  The successful
integration of Stream Global Services Inc. has allowed the company
to achieve greater scale and offer new capabilities.

S&P could lower the rating if leverage rises above the low-2x area
with no signs of improvement.  S&P believes such a scenario is
unlikely, but could occur if the company takes on additional
leverage to fund an acquisition, or if a significant increase in
customer or revenue churn leads to reduced profitability and free
operating cash flow generation.

S&P views an upgrade as unlikely over the next 12 months.  An
upgrade would require increased customer and vertical
diversification, either through organic or inorganic growth,
lessening the potential impact on earnings volatility and key
customer loss, or material decline in call volumes.  In addition,
any upgrade scenario would require continued margin stability and
leverage remaining below 1.5x on a sustained basis.



COUNTRY STONE: Debtors Want Name Change After Sale
--------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on April 8, 2015,
at 10:00 p.m., to consider Country Stone Holdings, Inc., et al.'s
motion for authorization to (i) change the corporate names for all
of the Debtors; and (ii) modify the caption of the Debtors' jointly
administered cases.

In relation to the sale of substantially all of the assets of the
Debtors to Hyponex Corporation and Techo-Bloc Inc., which closed on
Jan. 30, 2015, an Feb. 4, the Debtors agreed to effect a change in
the caption of the Debtors' bankruptcy case.

The Debtors asked that the Court approve the name changes.

The Debtor told the Court that they had amended their respective
articles of formation and articles of incorporation, and the
Debtors' new names are:

   Old Name                                     New Name
   --------                                     --------
Country Stone Holdings, Inc.                 Old CSH, Inc.
Country Stone and Soil of Wisconsin, Inc.    Old CS&SW, Inc.
Country Stone, Inc.                          Old CS, Inc.
Fort Wayne Landscape Supply, Inc.            Old FWLS, Inc.
Green Thumb of Indiana, L.L.C.               Old GTI, LLC
Infinity Fertilizers, Inc.                   Old IF, Inc.
Infinity Lawn and Garden, Inc.               Old IL&G, Inc.
Infinity Seed, Inc.                          Old IS, Inc.
Millburn Peat Company, Inc.                  Old MPC, Inc.
Quad City Express, Inc.                      Old QCE, Inc.
R & D Concrete Products of Indiana, Inc.     Old R&DCPI, Inc.
R & D Concrete of Wisconsin, Inc.            Old R&DCW, Inc.
R & D Concrete Products, Inc.                Old R&DP, Inc.
Rock Island Contractors, Inc.                Old RIC, Inc.
Wilhelm Sand & Gravel, Inc.                  Old WS&G, Inc.
Country Stone & Soil, Inc.                   Old CS&S, Inc.
Country Stone and Soil of Minnesota, Inc.    Old CS&SM, Inc.

                      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: Has Until May 5 to Propose Chapter 11 Plan
---------------------------------------------------------
The U.S. Bankruptcy Court extended Couture Hotel Corporation's
exclusive periods to file a chapter 11 plan until May 5, 2015, and
solicit acceptances for that plan until July 6.

The Court also ordered that all objections to the motion were
overruled.

In seeking the extension, the Debtor told the Court it is in the
process of drafting a plan or reorganization that would maximize
recovery to the estate, based upon its cash flows and financial
statements.  The Debtor said it has begun negotiations with Mansa
Capital LLC, the principal lender on the Debtor's Wyndham Garden
Inn in Dallas, Texas, regarding treatment of its claim that would
lead to a consensual plan of reorganization.  Furthermore, the
Debtor and its counsel have engaged in conversations with multiple
lenders and sources of capital to assist in confirmation of a plan
of reorganization.  A consensual plan of reorganization would
minimize the cost of confirmation and would additionally maximize
recovery to the estate as a whole, the Debtor added.

The Debtor said an extension of the exclusivity deadlines will
allow it to propose a plan that is more readily confirmable.  The
proof of claim deadline passed on Feb. 4, 2015, and thus the Debtor
will have a more complete picture of the claims facing the estate.
Consequently, an extension of the 120-day and 180-day plan and
solicitation exclusivity deadlines will not only allow further
negotiations amongst all the parties involved but will also allow
the Debtor to draft a plan with a more complete picture of the
claims against its estate, the Debtor relates.

                        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.


CRAIGHEAD COUNTY: Creditor Wants Jonesboro Property Sold
--------------------------------------------------------
Focus Bank suggested in a March 25, 2015 court filing the
liquidation of Craighead County Fair Association's fairgrounds in
Jonesboro, Arkansas.  The Association owed the Bank more than $6
million, The Associated Press reports.

The AP relates that Judy Simmons Henry, Esq., and Kimberly Wood
Tucker, Esq., at Wright, Lindsey & Jennings LLP, the attorneys for
the Bank, proposed in a creditor's Chapter 11 Plan of Liquidation
which, among other things, suggested that the 78-acre new
fairground complex be listed with a real estate company for up to
150 days, and that a public auction is suggested if the property is
not sold or is under contract after that period has expired.  The
AP states that under the creditor's plan, all proceeds from the
sale of the old fairgrounds would go to the Bank, while money from
the sale of the new complex would go to contractors.

The AP says that new fairgrounds, nka Northeast Arkansas Exposition
and Conference Center, are valued around $22 million.

Ms. Henry can be reached at:

      Wright, Lindsey & Jennings LLP
      200 West Capitol Avenue
      Suite 2300
      Little Rock, AR 72201
      Tel: (501) 212-1391
      Fax: (501) 376-9442
      E-mail: jhenry@wlj.com

Ms. Tucker can be reached at:

      Wright, Lindsey & Jennings LLP
      200 West Capitol Avenue
      Suite 2300
      Little Rock, AR 72201
      Tel: (501) 212-1232
      Fax: (501) 376-9442
      E-mail: ktucker@wlj.com

                    About Craighead County Fair

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

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


CYGAM ENERGY: Files Voluntary Assignment in Bankruptcy
------------------------------------------------------
Cygam Energy Inc. on April 2 disclosed that it has filed a
voluntary assignment in bankruptcy pursuant to the provisions of
the Bankruptcy and Insolvency Act (Canada).  In conjunction with
this filing, Hardie and Kelly Inc. has been appointed trustee of
the bankrupt estate.

The Board of Directors of Cygam, on the recommendation of its
Special Committee, authorized the filing of the bankruptcy as Cygam
is not able to meet the obligations owing to its creditors or to
fund the operations of the Company or its subsidiaries.

The Company also advises that the Directors of the Company have
resigned, that the employment of the officers of the Company has
been terminated and that the Company could be subject to a
suspension of trading pursuant to the policies of the TSX Venture
Exchange.  Any inquiries with respect to the operations of the
Company or its assets can be made to Hardie and Kelly Inc. at 110,
5800 - 2nd Street SW, Calgary, AB T2H 0H2, Attention: Kevin Meyler,
Senior Vice-President (telephone 403-777-9999).

CYGAM Energy Inc. -- http://www.cygamenergy.com/-- is a
Canada-based exploration company.  The Company has crude oil
production from the TT Field in the Bir Ben Tartar (BBT)
Concession, onshore Tunisia, plus numerous exploration concessions
in Italy and Tunisia.  The main focus of the Corporation is the
acquisition, exploration and development of international oil and
gas permits, primarily in Italy and Tunisia.  The Company currently
holds various interests in five exploratory permits in Italy plus
two exploratory permits and the BBT production concession in
Tunisia, which together encompass a total of approximately 1.4
million gross acres.  The five projects in Italy are B.R268.RG
(Elsa) Permit, Montalbano Permit, Posta Nuova and Masseria
Montarozzo Permits, Colle della Guardia Permit and Scarpizzolo
Permit.  In Tunisia, the projects are Bazma Permit, Sud Tozeur
Permit and the Sud Remada Permit.



DEB STORES: Sells Website, Trademarks for $2.2-Mil.
---------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Softree Inc.'s $2.2 million bid for Deb Stores'
intellectual property, including domain names and trademarks, was
the highest and best offer at auction.  According to the report,
sale proceeds will be paid to Ableco LLC, as agent on a
pre-bankruptcy secured term loan.  

                          About Deb Stores

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

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

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

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

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

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


DEER VALLEY TRUCKING: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Deer Valley Trucking Inc
        3900 American Way
        Idaho Falls, ID 83402

Case No.: 15-40284

Chapter 11 Petition Date: April 3, 2015

Court: United States Bankruptcy Court
       District of Idaho (Pocatello)

Judge: Hon. Jim D Pappas

Debtor's Counsel: Brent T Robinson, Esq.
                  ROBINSON & TRIBE
                  POB 396
                  Rupert, ID 83350
                  Tel: (208) 436-4717
                  Email: btr@idlawfirm.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jason Duncan, vice president/
secretary.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/idb15-40284.pdf


DEERFIELD RANCH: Status Conference Slated for April 17
------------------------------------------------------
The Hon. Alan Jaroslovsky of the U.S. Bankruptcy Court for the
Northern District of California will hold a status conference for
the Chapter 11 case of Deerfield Ranch Winery LLC at 9:00 a.m. on
April 17, 2015, at the U.S. Bankruptcy Court, 99 S. E St. in Santa
Rosa, California.  

At the status conference, the Debtor's principal bankruptcy counsel
and the Debtor(s) will appear and advise the court on these
matters:

   1) Whether the small business or single asset real estate
provisions of the Bankruptcy Code apply;

   2) The business, financial, and other problems that prompted the
bankruptcy filing;

   3) How the Debtor intends to use the provisions of the
Bankruptcy Code to resolve the problems;

   4) What cash collateral exists in the case, and how it is being
treated;

   5) What compensation arrangement has been made with debtor's
counsel, and how any retainer is being handled;

   6) If the case involves an individual, whether there are any
conflicts between the debtor and the estate;

   7) Whether counsel for the debtor has obtained approval of his
or her employment;

   8) Any professional employed by the estate who does not have
malpractice insurance;

   9) If the debtor is an individual, the effect on the case if an
appellate court determines that the absolute priority rule
applies;

  10) Whether the Debtor has complied with all rules and guidelines
governing debtors in possession, including the filing of monthly
operating reports, the establishment of debtor-in-possession bank
accounts, payment of postpetition taxes and U.S. Trustee fees, and
proof of adequate insurance; and

  11) A suggested deadline for confirmation of a plan.

Judge Jaroslovsky notes that at the status conference the court
will set such deadlines as seem appropriate and may dismiss or
convert the case or appoint a trustee if cause exists, including
failure of the Debtor to appear or comply with the terms of this
order.

                   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.

The United States Trustee for Region 17 appointed three creditors
of Deerfield Ranch Winery LLC to serve on the official committee
of
unsecured creditors.


DELIAS INC: Has Until June 5 to Assume or Reject Unexpired Leases
-----------------------------------------------------------------
The Bankruptcy Court extended until June 5, 2015, dELiA*s, INC., et
al.'s time to assume or reject unexpired leases of nonresidential
real property, including the office lease.

The Debtors said the only remaining unexpired lease of
nonresidential real property is the lease for their corporate
headquarters located at 50 West 23rd Street in New York.  The
Debtors stated they are currently working diligently with their
real estate consultant, A&G Realty Partners, LLC, to market the
office lease with a number of various potential interested
parties.

According to the Debtors, notwithstanding negotiations with respect
to the office lease with the landlord and other interested parties,
the landlord under the office lease filed on Feb. 13, 2015, a
motion to compel payment for postpetition use and occupancy of
premises, to compel assumption and rejection of a lease by a date
certain, and for relief from the automatic stay to gain possession
of the premises that is the subject of the office lease.

                        About DELIA*S INC.

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

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

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

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

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

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

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


DELIAS INC: Has Until June 5 to Propose Chapter 11 Plan
-------------------------------------------------------
U.S. Bankruptcy Judge Robert D. Drain extended dELiA*s, Inc., et
al.'s exclusive periods to propose a Chapter 11 plan until June 5,
2015, and solicit acceptances for that plan until Aug. 4.

As reported in the Troubled Company Reporter on March 13, 2015, the
Debtors told the Court that they are in the process of maximizing
the value of their remaining assets, such as selling their
intellectual property, their owned real estate and office lease,
and recovering the funds that collateralize certain letters of
credit.

According to the Debtors, working in close collaboration with the
Official Committee of Unsecured Creditors, they have made material
progress in the Chapter 11 cases and do not seek the extension of
the exclusive periods as a means to exert pressure on the relevant
parties in interest.  To the contrary, they intend to file a
disclosure statement and chapter 11 plan in the near term and the
purpose of their present request for an extension of the exclusive
periods is, among other things, to avoid the filing of competing
plans and to ensure that they have an opportunity to seek and
address the concerns of all stakeholders, the Debtors said.

                        About DELIA*S INC.

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

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

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

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

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

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

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


DELIA’S INC: Agrees to Vacate Two Trees Property
--------------------------------------------------
U.S. Bankruptcy Judge Robert D. Drain has signed off an agreed
order that resolves disputes between debtor dELiA*s Inc. and
landlord Two Trees Management Co. LLC.

Two Trees Management previously filed a motion asking the
Bankruptcy Court to compel payment for postpetition use and
occupancy of the premises located at 50 West 23rd Street, New York,
New York 10010; to compel assumption or rejection of the lease of
the Premises by a date certain; and for relief from the automatic
stay to gain possession of the Premises.

Under the agreed order, the Debtors will vacate the Premises broom
clean by April 1, 2015, at which time the Lease will be terminated.
In no event will Landlord be responsible for any item or property
of any kind that remains on the Premises after April 1, 2015, which
shall be deemed abandoned and the Landlord may discard same.

The Landlord is entitled to retain all proceeds received pursuant
to the Letter of Credit (the “LOC”) issued by Wells Fargo Bank,
N.A. with respect to the Debtors’ obligations under the Lease.

                        About DELIA*S INC.

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

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

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

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

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

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

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



DEB STORES:
-----------------------------------------------------------------

U.S. Bankruptcy Judge Kevin Gross has authorized Deb Stores to sell
certain intellectual property assets to Softree, Inc.  The acquired
assets will be transferred free and clear of claims and interests.

                          About Deb Stores

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

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

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

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

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

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



DENDREON CORP: Proposes Ernst & Young as Tax Advisors
-----------------------------------------------------
Dendreon Corporation, et al., filed with the U.S. Bankruptcy Court
for the District of Delaware an application to employ Ernst & Young
LLP as their tax advisors, nunc pro tunc to the Petition Date.

The Debtors require the services of seasoned and experienced tax
advisors that are familiar with both (i) the Debtors' businesses
and operations and (ii) the chapter 11 process.  EY LLP is a highly
respected and experienced professional services provider that
performs services such as assurance, tax, transactional and
advisory services.

As set forth in the Engagement Letters, EY LLP has agreed to
provide these services to the Debtors during the Chapter 11 cases:

   A. Tax Compliance Services

    * EY LLP will prepare the U.S. Federal Income Tax Return,
      Form 1120, for Client for the year ended Dec. 31, 2014.

    * EY LLP will prepare state and local income and franchise
      tax returns.

    * EY LLP will prepare Form 5471, Information Return of
      U.S. Persons with Respect to Certain Foreign Corporations
      for Dendreon U.K., LTD, Dendreon Operations B.V.,
      Dendreon Holdings (Netherlands) (B.V.), and Dendreon Germany
      GmbH.

   B. Expatriate Tax Services

    * EY LLP will provide certain expatriate tax services

   C. Transfer Pricing Benchmarking Study

    * EY LLP understands that during the fiscal year 2014, the
      Debtors sold (or will sell) PROVENGE to Dendreon UK Ltd for
      subsequent sale to a third distributor in Europe.  E&Y will
      assist the Debtors in preparing a transfer pricing study to
      benchmark Dendreon UK's arm's length profitability for its
      distribution activities based on generally accepted transfer

      pricing requirements as outlined in the US Internal Revenue
      Code under Section 482 (Section 482) and the OECD Transfer
      Pricing Guidelines for Tax Administrations and Multinational

      Enterprises (OECD Guidelines).  In connection therewith, EY
      LLP anticipates performing these steps:

       * Perform a search of comparable companies in EMEA4
         performing similar activities as Dendreon UK;

       * Recommend an arm's length range for Dendreon UK's
         profitability; and

       * Prepare a memo that summarizes our search methodology
         and results.

   D. Project Drone Tax Assistance

    * EY LLP will assist the Debtors with certain tax matters
      related to Project Drone, including but not limited to
      entity structuring, net operating loss planning, tax
      attribute analysis, calculations and projections,
      payroll/compensation, state taxes, indirect tax, and
      related matters as requested by the Debtors and as
       approved by the Debtors' audit committee.

   E. Georgia Business Tax Credits Services

    * EY LLP will assist the Debtors in securing and
      obtaining certain business tax credits for 2015 (and
      assist in supporting prior year credits claimed, if
      necessary) based upon EY LLP's review of the following
      Georgia incentive programs: Georgia Jobs Tax Credit,
      and Georgia Quality Jobs Credit.

    * EY LLP will perform the following services in
      securing the applicable credits:

      -- Analyze and document qualified employees whose wages
         can be claimed as tax credits based on 2013 and 2014
         wages, if necessary.

      -- Assist in obtaining credit certification from the
         necessary government agencies for 2013 and 2014 wages,
         if necessary.

      -- Prepare a summary report of finding and documentation
         supporting the credits, including calculation of
         available credits, supporting workpapers, and
         necessary technical analysis.

      -- Prepare Applications IT-QJ and IT-CA for both programs
         to be submitted to appropriate state agencies or filed
         with income tax returns.

   F. Routine On-Call Advisory Services

    * EY LLP will respond to general tax questions and assignments
      that are expected, at the beginning of the project, to
      involve total professional time not to exceed (with respect
      to the specific project) $25,000 in professional fees.

   G. Access to Audit Work Papers

    * EY LLP will allow potential bidders in the bankruptcy
auction
      to review certain of its audit work papers, subject to the
      execution of appropriate documentation.

   H. German Tax Compliance Services

    * EY LLP (possibly with the assistance of partners and
employees
      of Ernst & Young GmbH ("EY Germany") will assist with the
      preparation of certain tax returns in Germany. Such services

      will include:

      -- Preparation of corporate income tax return including all
         requisite enclosures and the return for the determination
         of specific tax attributes;

      -- Preparation of trade tax return and, if necessary, return
         on the apportionment of the trade tax base;

      -- Preparation of preliminary and annual VAT returns; and

      -- Preparation of EC Sales list and Intrastat returns, if
         necessary.

    * EY LLP will provide certain tax advisory services,
including:

      -- Correspondence with the tax authorities in connection
         with the preparation of the tax returns;

      -- Review of assessments issued on basis of the tax returns
         as stated above and pertinent correspondence with the
         tax authorities if the Debtors forward EY LLP the
         assessments for a review; and

      -- Drafting of appeals and filing them according to the
         Debtors' decision.

To the best of the Debtors' knowledge, EY LLP (a) does not have any
connection with the Debtors, their affiliates, their creditors, or
any other parties in interest, the Judge, the U.S. Trustee or the
Assistant U.S. Trustee assigned to this matter; (b) is a
"disinterested person," as such term is defined in Section 101(14)
of the Bankruptcy Code, as modified by Bankruptcy Code section
1107(b); and (c) does not hold nor represent any interest adverse
to the Debtors' estates.

Carl Mackleit, a partner at the firm, disclosed that during the 90
days preceding the Petition Date, the Debtors paid a total of
$567,623 to EY LLP.

EY LLP currently intends to charge the Debtors fees for each of the
services:

   A. Tax Compliance Services

   -- The Debtors will pay EY LLP of $60,000 for the tax
      compliance Services, provided that EY receives all
      information necessary for the completion of the returns
      (in electronic form, where requested) by June 1, 2015.  
      Additional state returns, if required, will be $1,500
      for each state.  Additional Forms 5471, if required,
      will be $1,500 for each form.

   B. Expatriate Tax Services

   -- The fees for each specific expatriate tax service is set
      forth in Attachment 1 to the expatriate tax Services
      engagement letter. Certain other expatriate tax services
      will be billed at fixed fees agreed between EY and the
      Debtors, as appropriate.

   -- EY LLP's professional fees will be subject to the Consumer
      Price Index adjustment described in the engagement letter.

   C. Transfer Pricing Benchmarking Study

   -- EY LLP's fees with respect to the transfer pricing
      benchmarking study Services are based on the time that
      its professionals spend performing them, as adjusted
      annually on July 1 while such Services are being performed.
      The rates, by level of tax professional, are as follows:

          Title                                   Hourly Rate
          -----                                   -----------
    National Executive Director/Principal/Partner     $930
    Executive Director/Principal/Partner          $715 to $815
    Senior Manager                                $645 to $670
    Manager                                           $540
    Senior                                        $395 to $510
    Staff                                         $140 to $260

   D. Project Drone Tax Assistance

    * EY LLP's fees with respect to the Project Drone tax Services
     are based on the time that its professionals spend performing
     them, as adjusted annually on July 1 while such Services are
     being performed. The rates, by level of tax professional,
     are as follows:

          Title                                   Hourly Rate
          -----                                   -----------
    National Executive Director/Principal/Partner     $930
    Executive Director/Principal/Partner          $715 to $815
    Senior Manager                                $645 to $670
    Manager                                           $540
    Senior                                        $395 to $510
    Staff                                         $140 to $260

   E. Georgia Business Tax Credits Services

    * EY LLP's fees with respect to the Georgia business tax
      credits Services are based on the time that its
professionals
      spend performing them, as adjusted annually on July 1 while
      such Services are being performed.  The rates, by level of
      tax professional, are as follows:

          Title                                   Hourly Rate
          -----                                   -----------
    National Executive Director/Principal/Partner     $930
    Executive Director/Principal/Partner          $715 to $815
    Senior Manager                                $645 to $670
    Manager                                           $540
    Senior                                        $395 to $510
    Staff                                         $140 to $260

   F. Routine On-Call Advisory Services

    * EY LLP's fees with respect to the routine on-call advisory
     Services are based on the time that its professionals spend
     performing them, as adjusted annually on July 1 while such
     Services are being performed. The rates, by level of tax
     professional, are as follows:

          Title                                   Hourly Rate
          -----                                   -----------
    National Executive Director/Principal/Partner     $930
    Executive Director/Principal/Partner          $715 to $815
    Senior Manager                                $645 to $670
    Manager                                           $540
    Senior                                        $395 to $510
    Staff                                         $140 to $260

   G. Access to Audit Work Papers

    * The Debtors will pay EY's fees for these Services based
      on the time that its professionals spend performing them.

   H. German Tax Compliance Services

    * Preparation and filing of the CIT return together with
      the trade tax return: $3,200 per annum.

    * Preparation and filing of monthly VAT declarations plus
      annual VAT return: $5,000 per annum.

    * A review of one set of tax assessments for the above
      returns will be charged at $1,000.

    * The Debtors will be billed for other German Tax Compliance
      Services on basis of time spent applying these hourly rates:

      up to $575 for partners, up to $460 for senior managers,
      up to $340 for managers and up to $210 for assistants.

In addition to the fees, the Debtors have agreed to reimburse EY
LLP for any direct expenses incurred in connection with EY LLP's
retention in the Chapter 11 cases and the performance of the
Services.

                        About Dendreon Corp

With corporate headquarters in Seattle, Washington, Dendreon
Corporation, a biotechnology company focused on the development of
novel cellular immunotherapies to significantly improve treatment
options for cancer patients.

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

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

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

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

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

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



DRYSHIPS INC: Ernst & Young Raises Going Concern Doubt
------------------------------------------------------
DryShips Inc. filed with the U.S. Securities and Exchange
Commission on March 10, 2015, its annual report on Form 20-F for
the year ended Dec. 31, 2014.

The Company reported a net income of $58.02 million on $2.18
billion of total revenues for the year ended Dec. 31, 2014,
compared to a net loss of $198 million on $1.49 billion of total
revenues in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $10.4 billion
in total assets, $6.08 billion in total liabilities, and total
equity of $4.29 billion.

Ernst & Young (Hellas) Certified Auditors-Accountants S.A.
expressed substantial doubt about the Company's ability to continue
as a going concern, citing that the Company reports a working
capital deficit of $394 million at Dec. 31, 2014.  In addition, the
shipping segment has not complied with certain covenants of its
bank agreements.

A copy of the Form 20-F is available at:
                              
                       http://is.gd/ruMfFt
                          
Dryships Inc. is a provider of ocean transportation services for
drybulk and petroleum cargoes through its subsidiary Ocean Rig UDW.
Based in Athens, Greece, the Company owns a fleet of 38 drybulk
carriers, eight drilling units, and 10 oil tankers.


DUNE ENERGY: Year-End 2014 Proved Reserves Down 17%
---------------------------------------------------
Dune Energy, Inc., on April 2 reported year-end 2014 proved oil and
gas reserves of 5,601 Mbo and 43.6 Bcf of gas or 12.9 MMBoe.  Oil
volumes decreased 1,562 Mbo or 22% and gas volumes decreased 6.5
Bcf over year-end 2013 reported reserves.  PV@10% value of these
reserves, as calculated in accordance with applicable financial and
reporting standards of the Securities and Exchange Commission,
totaled $256.6 million, a $55.1 million decrease or 17.7% below the
year-end 2013 PV@10% value of $311.7 million.  

A third party, independent reserve report was done as of June 30,
2014 by DeGolyer & MacNaughton.  The year-end 2014 reserve report
was completed by Dune.  The prices used at year-end 2014 were
$91.61 per Bbl and $4.35 per Mmbtu.

Production Volumes

In total, 2014 sales were 376 Mbo and 1.6 Bcf or 643 MBoe.  On a
daily basis this averaged 1,762 Boe/day and 58% of the sales were
oil.  January sales were 1,346 Boe/day with 57% oil and February
sales were 1,458 Boe/day with 67% oil.

2015 Strip Price

Estimated future revenue attributable to Dune's interest in the
proved reserves were based on spot prices, effective December 31,
2014.  Prices for 2015 were $52.19/Bbl and $3.01/MMbtu.

The forecasted field cash flow for 2015 from proved developed
producing only is $7.244 million.

Upside Potential and Capital Expenditures

Over and above the 12.9 MMBoe of proved reserves, the Company has
identified an additional unrisked 54 MMboe of probable, possible
and exploratory reserves.  These projects are defined with recent
fully processed 3-D seismic data and within our acreage positions.
The majority of this upside potential is within our Garden Island
Bay field.

As previously disclosed, the Company and its subsidiaries filed
voluntary petitions in the United States Bankruptcy Court for the
Western District of Texas, Austin Division seeking relief under
Chapter 11 of Title 11 of the United States Code.  The Chapter 11
cases are being jointly administered under the caption "In re Dune
Energy, Inc., et al", Case No. 15-10336.  The Company continues to
operate its business and manage its properties as
"debtors-in-possession" under the jurisdiction of the Bankruptcy
Court and in accordance with the applicable provisions of the
Bankruptcy Code and orders of the Bankruptcy Court.  The Company
currently is limiting its operations to those necessary to preserve
the value of the business as a going concern and to formulate a
definitive Chapter 11 bankruptcy plan for submission to the
Bankruptcy Court and claimholders of the estate.  This process
includes evaluating alternative proposals for the sale of
substantially all of the Company's assets in the Chapter 11 case
and in connection with the Plan.  All other business activity,
including prospect acquisitions and other capital expenditures, has
been halted.  The Company therefore does not have the capital
required to explore and develop these opportunities.

A table comparing proved, probable and possible reserve amounts for
year-end 2013 and year-end 2014 is available for free at:

                       http://is.gd/JPSGLU

                        About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE), 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.

The deadline for creditors to file proofs of claim is July 13,
2015.  For governmental units, the deadline to file proofs of claim
is not later than 180 days from the Petition Date.


ENDEAVOR ENERGY: Moody's Alters Outlook to Neg. & Affirms 'B1' CFR
------------------------------------------------------------------
Moody's Investors Service changed Endeavor Energy Resources, L.P.'s
outlook to negative from stable and assigned an SGL-3 Speculative
Grade Liquidity (SGL) Rating. Moody's affirmed all ratings
including the company's B1 Corporate Family Rating (CFR), B1-PD
Probability of Default Rating (PDR), and the B3 senior unsecured
rating on its $500 million 7% notes due 2021.

"Endeavor's negative outlook reflects the likely deterioration in
cash flow and credit metrics due to the weak commodity price
environment," said Sreedhar Kona, Moody's Senior Analyst. "While
covenant relief granted under the borrowing base credit agreement
improves Endeavor's ability to respond to the current cyclical low
period, the significant capital needs to develop its resources will
strain available liquidity, unless other liquidity enhancing
measures are pursued."

Assignments:

Issuer: Endeavor Energy Resources, L.P.

  -- Speculative Grade Liquidity (SGL) Rating, Assigned SGL-3

Affirmed:

Issuer: Endeavor Energy Resources, L.P.

  -- Corporate Family Rating, Affirmed B1

  -- Probability of Default Rating, Affirmed B1-PD

  -- $500 million 7% Senior Unsecured Notes due 2021, Affirmed B3,
(LGD5 from LGD6)

Outlook Actions:

Issuer: Endeavor Energy Resources, L.P.

  -- Outlook changed to Negative from Stable

The change in Endeavor's outlook to negative from stable reflects
the high likelihood of worsening credit metrics and cash flow
generation in light of the weak commodity price environment. The
company has approximately $300 million available under its $1.2
billion secured borrowing base revolving credit facility due 2019
and had $13 million of balance sheet cash as of December 31, 2014.
Management has indicated the possibility of a borrowing base
reduction at the May 2015 redetermination, further reducing the
available liquidity. The weak commodity price environment will
diminish the company's cash flow generation through 2016, likely
reducing the retained cash flow (RCF) to debt to less than 15%
(below the Moody's downgrade trigger) from approximately 33% as of
December 31, 2014. The interest coverage ratio is also expected to
decline to less than 4.5x from 7.7x. Unless other liquidity
enhancing measures such as asset sales or debt issuance are pursued
in 2015, Endeavor will continue to rely heavily on the borrowing
base revolving credit facility to fund its $400 million capital
spending program, potentially straining its liquidity by year end
2015. Debt to average daily production and debt to proved developed
reserves leverage metrics, which are already high for the company's
rating, will deteriorate further from the current levels of $41,200
per barrel of oil equivalent (Boe) and $11 Boe, respectively. The
negative outlook could be returned to stable should the company
materially enhance its liquidity through alternative sources,
including the potential sale of a portion of its Delaware basin
acreage.

The SGL-3 Speculative Grade Liquidity Rating reflects Moody's
expectations that Endeavor will have adequate liquidity into 2016.
Covenant relief and a concurrent borrowing base reduction to $1.2
billion from $1.3 billion leave the company with approximately $300
million availability under the amended revolving credit facility.
The company will use the available capacity remaining under its
credit facility, cash flow from operations, and balance sheet cash
of $13 million to fund its 2015 $400 million capital spending
budget (reduced from $549 million in 2014), expected dividend
distributions of $3.5 million, and working capital needs in 2015.
The recent amendment to Endeavor's revolving credit facility
provides covenant relief by replacing the 4.0x maximum funded debt
to EBITDA ratio for four quarters starting from June 30, 2015, with
a new 2.75x maximum secured funded debt to EBITDA covenant and a
2.75x minimum interest coverage covenant. Although expected
additional revolver drawings could leave the company with limited
headroom under the amended covenants, Moody's expect Endeavor to
remain in compliance with the covenants through 2015. Liquidity
could be supplemented by the company's announcement of its intent
to sell 34,000 net acres of its Delaware basin holdings (a sale
which would not be expected to materially impact production metrics
or proved reserves).

Endeavor's B1 CFR reflects its size, scale and concentration of
proved reserves in the Permian's Midland Basin, weak capital
efficiency, as well as the high reliance on external financing to
fund a full-scale capital intensive drilling program. The rating is
also restrained by the control the principal partner Mr. Autry C.
Stephens wields over privately-held Endeavor and the numerous
affiliated transactions between Endeavor and other companies
controlled by the Stephens family. The high quality of its Permian
focused acreage, the oil-weighted drilling inventory, and high
level of operational control support the rating. The rating also
considers Endeavor's production and reserves which are comparable
to other B1 E&P peers.

Ratings could be downgraded if the sale of the Delaware basin
acreage does not materialize in the first half of 2015. A reduction
in available liquidity to less than $100 million or a drop in
average daily production below 25,000 boe would also result in a
ratings downgrade.

Ratings are unlikely to be upgraded over the next 12-18 months
given the weak commodity price environment and the company's
elevated financial leverage. The outlook could be changed to
stable, if the announced divestiture generates sufficient proceeds
to repay borrowings under the revolver and improve liquidity to
more than $600 million. Ratings could be upgraded if debt reduction
improves debt to average daily production on a sustained basis to
below $30,000/boe and RCF to debt above 30%.

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.

Endeavor Energy Resources, L.P. is a privately held independent oil
and gas exploration and production company headquartered in
Midland, Texas.


ENDEAVOUR INT'L: Noteholder Opposes Deregistration
--------------------------------------------------
Kissi Bamfo, on behalf of Distinctive Capital, a holder of the 55
Convertible Notes due July 15, 2016, filed a limited objection to
Endeavour International Corporation's Plan of Reorganization.

The Noteholder requested that the Debtors' counsel maximize the
value to the estate by refraining from deregistration and to allow
reorganized Endeavour International stock to trade on the Over-The
Counter  (OTC) bulletin Board.

As reported in the Troubled Company Reporter on March 3, 2015,  the
Debtors filed on Nov. 17, 2014, a proposed Joint Chapter 11 Plan of
Reorganization.  The Debtors adjourned the hearing to consider
confirmation of the Plan to a date to be determined.

In connection with recent discussions with certain holders of its
debt regarding the Plan held in light of recent declines in oil and
gas prices, the Company provided the financial forecasts and other
information to certain debt holders in January and February 2015.
A copy of the 3 Year Plan 2015-2017 Update is available at
http://is.gd/feNwAD

                   About Endeavour International

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

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

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

Endeavour Operating Corporation, in its schedules, disclosed
$808,358,297 in assets and $1,242,480,297 in liabilities as of the
Chapter 11 filing.

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

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

                        *     *     *

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

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

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



ENERGY & EXPLORATION: Bank Debt Trades at 18% Off
-------------------------------------------------
Participations in a syndicated loan under which Energy &
Exploration Partners is a borrower traded in the secondary market
at 81.96 cents-on-the-dollar during the week ended Friday, April 3,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents a
decrease of 0.50 percentage points from the previous week, The
Journal relates.  Energy & Exploration pays 675 basis points above
LIBOR to borrow under the facility.  The bank loan matures on Jan.
14, 2019.  Moody's and Standard & Poor's did not give a rating to
the loan.  The loan is one of the biggest gainers and losers among
265 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



EVERYWARE GLOBAL: Enters Into Restructuring Agreement with Lenders
------------------------------------------------------------------
EveryWare Global, Inc. on April 1 disclosed that it has reached an
agreement with its secured lenders on a comprehensive balance-sheet
restructuring that, among other things, will substantially reduce
the Company's long-term debt.

The prepackaged bankruptcy plan is expected to allow the Company to
operate its business in the ordinary course throughout the
restructuring.  The Company also believes this plan will minimize
the time and expense spent in restructuring and will provide for
sufficient liquidity during the restructuring.

Importantly, the restructuring plan will create a sustainable
capital structure that will ensure that the Company is well
positioned to invest in the business and pursue future growth
opportunities.

"We are pleased to have the support of our lenders to move forward
with a restructuring plan that addresses our balance sheet to
secure a bright future for our company," said Sam Solomon,
President and CEO of EveryWare Global.  "We have made considerable
progress improving our day-to-day operations and this restructuring
plan strengthens the Company's balance sheet for long-term success.
We are confident that this plan is in the best interest of our
customers, vendors, employees and our business partners."

To implement the restructuring, the Company expects to file
voluntary petitions for a prepackaged chapter 11 bankruptcy in the
U.S. Bankruptcy Court for the District of Delaware.  

Overview of Proposal

On March 31, 2015, EveryWare Global and its lenders executed a
restructuring support agreement specifying the details of a
restructuring support agreement that sets forth the material terms
of the Chapter 11 restructuring and of a debtor-in-possession
facility to provide liquidity during the restructuring.  Given the
typical speed of a "prepackaged" plan of reorganization, the
Company expects to emerge from bankruptcy within 60-75 days.

The plan for reorganization contemplates that after emergence from
bankruptcy, the secured lenders will become the owners of 96% of
EveryWare Global's common stock and that EveryWare Global will
cease to be a publicly traded company.

                         About EveryWare

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

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

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

                            *    *    *

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


EVERYWARE GLOBAL: Moody's Cuts CFR to 'Ca', Outlook Negative
------------------------------------------------------------
Moody's Investors Service downgraded EveryWare Global, Inc.'s
Corporate Family and Probability of Default Ratings to Ca and
Ca-PD, from Caa1 and Caa2-PD, respectively. The term loan rating
was downgraded to Ca from Caa1.

Rating actions:

Issuer: EveryWare Global, Inc.

  -- Corporate Family Rating, Downgraded to Ca from Caa1

  -- Probability of Default Rating, Downgraded to Ca-PD from
     Caa2-PD

  -- Speculative-Grade Liquidity Rating, unchanged at SGL-4

  -- Outlook, Negative

Issuer: Anchor Hocking, LLC

  -- Senior Secured Bank Credit Facility due 2020, Downgraded to
     Ca(LGD5) from Caa1(LGD4)

  -- Outlook, Negative

The downgrade follows EveryWare's April 1 announcement that it has
entered into an agreement with 65.6% of its term loan lenders to
restructure the company through a pre-packaged bankruptcy plan.
Under the proposed terms of restructuring, 100% of the term loan
debt will be cancelled in exchange for 96% of equity in the
post-bankruptcy company. The $60 million asset-based revolver will
remain in force and will be reinstated following the restructuring.
Holders of general unsecured claims against the company will be
paid in full in the ordinary course. All executory contracts will
be assumed. The company has received commitments for a $40 million
Debtor-In-Possession facility.

Moody's expects to revise EveryWare's PDR to D-PD and subsequently
withdraw all of the ratings of the company when it files for relief
under chapter 11 of the US Bankruptcy Code, which is expected on or
before April 7.

EveryWare Global Inc. ("EveryWare") sells tableware, including
glasses, dishes, eating utensils, and cookware, primarily to the
mass retail and foodservice industries. The company's portfolio of
brands includes Anchor, Oneida, Sant'Andrea, Stölzle, Spiegelau,
Viners, and Buffalo China. EveryWare is publicly traded but
majority-owned by private equity firm Monomoy Capital Partners. Net
sales in 2014 were approximately $354 million.

The principal methodology used in these ratings was Consumer
Durables Industry published in September 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.


EVERYWARE GLOBAL: To File for Bankruptcy Protection
---------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that EveryWare Global Inc., maker of Anchor Hocking and Oneida
kitchen products, said it has reached a deal on the terms of a
debt-for-equity swap that calls for its senior lenders to take
control of the company.

According to the report, the company, which was formed by Monomoy
Capital Partners, said that it has already reached a deal with its
secured lenders, which are owed a total of some $248.6 million.
The lenders will become the owners of 96% of EveryWare Global's
common stock and the sale will be completed through a prepackaged
Chapter 11 filing, the report added.

                          About EveryWare

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

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

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

                            *    *    *

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


FAIRMOUNT SANTROL: S&P Affirms 'BB-' CCR; Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
corporate credit rating on Ohio-based industrial sand producer
Fairmount Santrol Inc.  The outlook is stable.

At the same time, S&P revised the recovery rating on Fairmount's
senior secured credit facilities to '4' from '3'.  A recovery
rating of '4' reflects S&P's expectation of average (30% to 50%;
upper half of the range) recovery in the event of default.
Issue-level ratings for senior secured debt remain 'BB-', in line
with the corporate credit rating.  The revised recovery rating
incorporates an increase in Fairmont's revolving credit facility to
$125 million from $75 million.

"Despite falling oil and gas prices and weakening demand in
Fairmount's end markets, we are affirming the corporate credit
rating on the company.  Although the extent to which volumes and
prices will be affected through the end of the year is uncertain,
in our view, Fairmount has a strong enough financial risk profile
to warrant the affirmation," said Standard & Poor's credit analyst
Chiza Vitta.

The stable outlook reflects S&P's view that Fairmount will maintain
a financial profile in line with the rating.  This includes
maintaining leverage at less than 5x over the next 12 months with
adequate liquidity.

S&P would lower the rating if leverage exceeded 5x or liquidity
deteriorated such that S&P no longer considered it to be adequate.
This could occur if operating results were weaker than expected or
if the company engaged in a large debt-financed dividend.  Although
demand and prices for industrial sands are expected to weaken this
year, S&P do not expect these events to substantially alter S&P's
view of the company's business risk or financial risk profiles.

S&P is unlikely to raise its rating over the next 12 months given
S&P's expectation for weak oil and gas end markets and the
company's sizable ownership by a financial sponsor.  However, S&P
could raise the rating over time if there is a meaningful reduction
in the financial sponsor's ownership and control of the company,
and S&P believes leverage will remain below 4x.



FALCON STEEL: Bankruptcy Court Confirms Reorganization Plan
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas, Fort
Worth Division, has confirmed the joint reorganization plan for
Falcon Steel Company and its affiliates.  Held on March 30, 2015,
the confirmation hearing declared Falcon Steel officially out of
bankruptcy and gives management the court's approval to proceed
according to its proposed plan (Case No. 14-42585-dml-11).

"Falcon Steel filed for Chapter 11 relief on June 29, 2014, and
after nine months of streamlining operations and realigning its
management team, the company is now in a sound financial position
to go forward," said Jim Taylor, Falcon Steel CEO.

Mr. Taylor, who joined Falcon Steel as Chief Restructuring Officer
in May 2014 and was named President and CEO in August, said, "We
wanted an outcome that was in everyone's best interests, and that's
just what we got."

"We're extremely pleased with the court's decision, as well as with
our team's ability to turn the company around in a matter of
months.  Now we can focus all of our attention on what Falcon does
best -- which is designing and manufacturing top-quality steel
structures."

Throughout the restructuring process, Falcon Steel continued to
operate as normal.  Since the Chapter 11 filing was about covenants
and not the company's ability to pay, the day-to-day operations
were never compromised, Taylor added.

Jeff Prostok and Lynda Lankford of Forshey Prostok, a Fort
Worth-based law firm specializing in bankruptcy issues, represented
Falcon Steel and its affiliates in the case.

"The Falcon Steel result is a blueprint for a successful
reorganization," Mr. Prostok said.  "Falcon creditors will get paid
and the company is well-positioned to thrive going forward."

                    About Falcon Steel Company

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

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

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

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

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

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

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

Falcon Steel Co., filed a plan to emerge from bankruptcy
protection, saying it has secured new orders and reached a deal to
refinance a $17.5 million bank loan.


FALCON STEEL: Court Confirms Reorganization Plan
------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
confirmed Falcon Steel Company, et al.'s joint reorganization plan,
Yourmetalnews.com reports.

Yourmetalnews.com states that the March 30, 2015 confirmation
hearing declared the Company officially out of bankruptcy and gives
management the court's approval to proceed according to its
proposed plan.

Yourmetalnews.com quoted Jim Taylor, the Company's CEO, as saying,
"Falcon Steel filed for Chapter 11 relief on June 29, 2014, and
after nine months of streamlining operations and realigning its
management team, the Company is now in a sound financial position
to go forward . . . .  We wanted an outcome that was in everyone's
best interests, and that's just what we got."

                    About Falcon Steel Company

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

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

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

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

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

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

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

Falcon Steel Co., filed a plan to emerge from bankruptcy
protection, saying it has secured new orders and reached a deal to
refinance a $17.5 million bank loan.


FEDERATION EMPLOYMENT: Creditor Reserves Right on Deals Assumption
------------------------------------------------------------------
Banc of America Leasing & Capital, LLC, a secured creditor to
Federation Employment and Guidance Service, Inc., reserved its
rights to the Debtor's request for authority to assume and assign
certain executory contracts and unexpired leases

BALC entered into a Master Lease Agreement with FEGS for the
equipment located in 11 locations in New York.  While the Motion
makes no mention of the Lease or the Equipment, BALC tells the
Court that it has been unable to obtain for review copies of the
Prepetition Assignment Agreements to confirm that the rights,
interests, contracts and leases sought to be assumed and assigned
by the Motion exclude the Lease and/or the Equipment.

The City of New York and its agencies, including the New York City
Human Resources Administration, the New York City Department of
Health and Mental Hygiene, the New York City Department of Youth
and Community Development, and the Mayor's Fund to Advance New York
City agree with the Debtor that there is a need for immediate
relief, and that failure to obtain the relief would result in
immediate and irreparable harm.  Not only would the creditors and
other stakeholders suffer harm because of the continuing losses and
drain on the Debtor's resources, but the clients of the Debtor
would suffer immediate and irreparable harm if there were an
interruption in services, the City says.

BALC is represented by:

         Daniel F. Flores, Esq.
         WILSON ELSER MOSKOWITZ EDELMAN & DICKER LLP
         150 E 42nd Street
         New York, NY 10017-5639
         Tel: (212) 915-5769
         Fax: (212) 490-3038
         Email: daniel.flores@wilsonelser.com

The City is represented by:

         Zachary B. Kass, Esq.
         100 Church Street
         New York, NY 10007
         Tel.: (212) 356-2113
         E-mail: zkass@law.nyc.gov

                            About FEGS

Established in 1934 amidst the Great Depression, Federation
Employment & Guidance Service, Inc. ("FEGS") is a not-for-profit
provider of various health and social services to more than
120,000
individuals annually in the areas of behavioral health,
disabilities, housing, home care, employment/workforce, education,
youth and family services.  At its peak, FEGs' network of programs
operated over 350 locations throughout metropolitan New York and
Long Island and employed 2,217 highly skilled professionals.

FEGS sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case
No. 15-71074) in Central Islip, New York on March 18, 2015.

The Chapter 11 plan and disclosure statement are due by July 16,
2015.

The Debtor filed applications to hire Garfunkel, Wild, P.C., as
general bankruptcy counsel; Togut, Segal & Segal, LLP, as
co-counsel; JL Consulting LLC as Restructuring Advisor, as
restructuring advisor; and Rust Consulting/Omni Bankruptcy as
claims and noticing agent.

The meeting of creditors under 11 U.S.C. Sec. 341(a) is slated for
April 17, 2015.


FINJAN HOLDINGS: Promotes Julie Mar-Spinola as Chief IP Officer
---------------------------------------------------------------
Finjan Holdings, Inc., appointed Julie Mar-Spinola as its chief
intellectual property officer on March 25, 2015, according to a
Form 8-K report filed with the Securities and Exchange Commission.


Ms. Mar-Spinola, age 58, has served as the Company's vice
president, legal operations since Feb. 3, 2014.  Previously, Ms.
Mar-Spinola served as interim general counsel for Phoenix
Technologies and its subsidiary, iolo technologies LLC, a software
technology company, from September 2013 through February 2014.  Ms.
Mar-Spinola served as VP, Legal (General Counsel) for Alta Devices,
a solar cells manufacturer, from June 2010 through April 2013.  Ms.
Mar-Spinola is a member of the California State Bar and registered
to practice before the U.S. Patent & Trademark Office.

The Company and Ms. Mar-Spinola previously entered into an
Employment Agreement, dated Jan. 19, 2014, in connection with Ms.
Mar-Spinola's initial appointment as vice president, legal
operations.  The Employment Agreement has not been amended in
connection with her promotion to chief intellectual property
officer.  The Employment Agreement provides for a base salary of
$350,000 per year, subject to adjustment.  During the term of the
Employment Agreement, Ms. Mar-Spinola is eligible to receive an
annual bonus in the amount of $50,000, subject to adjustment on an
annual basis, based on her individual performance and the overall
progress of the Company.  

Pursuant to the Employment Agreement, on July 10, 2014, the Company
awarded Ms. Mar-Spinola 60,314 shares of restricted stock units.
One-third of the RSUs vested on Jan. 27, 2015, and an additional
8.33% of the RSUs vest every three calendar months thereafter until
fully vested.  The RSUs were awarded pursuant to the Company’s
2014 Incentive Compensation and an award agreement thereunder.

Ms. Mar-Spinola is also eligible for additional annual equity
grants equivalent to 25% of her base salary if individual
performance targets are achieved and equity grants equivalent to
another 25% of her base salary if company performance targets are
achieved.  The type of performance-based equity grants would be
determined in the Company's discretion and made pursuant to the
Company's 2014 Plan.

Ms. Mar-Spinola's employment may be terminated at any time and for
any reason upon at least 30 days advance written notice of such
termination.

                            About Finjan

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

Finjan reported 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.


FOODS INC: Payment of Mountsier Fees Approved
---------------------------------------------
The bankruptcy judge presiding over Dahl's Foods, et al.'s Chapter
11 cases authorized the payment of $7,046 fees and $0 expenses to
Ronald L. Mountsier, Esq. and the Dickinson Law Firm as special
corporate and employment law counsel.  The payment covers the
period for Nov. 1, 2014, until Jan. 31, 2015.

On March 3, 2014, the Court entered an order authorizing the
employment of Mr. Mountsier and the firm.  The Dickinson Law Firm
agreed to provide
these services:

   a. Structure, negotiate and draft appropriate business
      and corporate transactions;

   b. Advise the Debtors with respect to ongoing business
      operations, including contractual and regulatory matters;
      and

   c. Advise the Debtors with respect to employment law matters.

The standard hourly rate for Ronald L. Mountsier, Esq., a
Dickinson Law Firm professional, who will be involved in the
Debtor's case is $320.

                        About Foods Inc.

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

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

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

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

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



FORTESCUE METALS: Bank Debt Trades at 13% Off
---------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 86.80
cents-on-the-dollar during the week ended Friday, April 3, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 4.47 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 265 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



FOUR OAKS: Incurs $4.2 Million Net Loss in 2014
-----------------------------------------------
Four Oaks Fincorp, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$4.18 million on $28.8 million of total interest and dividend
income for the year ended Dec. 31, 2014, compared to a net loss of
$350,000 on $29.04 million of total interest and dividend income in
2013.

The Company previously reported a net loss of $6.96 million in 2012
and a net loss of $9.09 million in 2011.

As of Dec. 31, 2014, the Company had $821 million in total assets,
$780 million in total liabilities and $40.7 million in total
shareholders' equity.

                         Written Agreement

In late May 2011, the Company and the Bank entered into a Written
Agreement with the Federal Reserve Bank of Richmond and the North
Carolina Commissioner of Banks.  Under the terms of the Written
Agreement, the Bank developed and submitted for approval, within
the time periods specified, plans to:
  
   * revise lending and credit administration policies and  
     procedures at the Bank and provide relevant training
  
   * enhance the Bank's real estate appraisal policies and
     procedures

   * enhance the Bank's loan grading and independent loan review
     programs

  * improve the Bank's position with respect to loans,
    relationships, or other assets in excess of $750,000, which
    are now or in the future become past due more than 90 days,
    are on the Bank's problem loan list, or adversely classified
    in any report of examination of the Bank, and

  * review and revise the Bank's current policy regarding the     

    Bank's allowance for loan and lease losses and maintain a
    program for the maintenance of an adequate allowance.

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

                         http://is.gd/pWcQEG

                           About Four Oaks

Four Oaks Bank & Trust Company is a state chartered bank
headquartered in Four Oaks, North Carolina, where it was chartered
in 1912.  The wholly-owned subsidiary of Four Oaks Fincorp, Inc.,
the single bank holding company trading under the symbol FOFN on
the OTCQX Marketplace, the Bank had $820.8 million in assets as of
Dec. 31, 2014.  The Bank presently operates thirteen branches
located in Four Oaks, Clayton, Garner, Smithfield, Benson,
Fuquay-Varina, Holly Springs, Wallace, Harrells, Zebulon, Dunn and
Raleigh and loan production offices in Southern Pines and in
Raleigh, North Carolina.


FRAC TECH: Bank Debt Trades at 23% Off
--------------------------------------
Participations in a syndicated loan under which Frac Tech Services
Ltd is a borrower traded in the secondary market at 77.25
cents-on-the-dollar during the week ended Friday, April 3, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
2.15 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 265 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



FRED FULLER: Committee Taps Brinkman Portillo as Attorneys
----------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 bankruptcy case of Fred Fuller Oil & Propane Co., Inc.,
sought and obtained approval from the U.S. Bankruptcy Court for the
District of New Hampshire to retain Brinkman Portillo Ronk, APC as
its counsel, nunc pro tunc to Feb. 13, 2015.

The Committee has selected BPR for the reason that it has
considerable experience in bankruptcy matters and it believes that
BPR is qualified to represent it in the case.

The professional services that BPR will provide to the Committee
include, but are not limited to:

  (a) providing legal advice as necessary with respect
      to the Committee's powers and duties as an official
      committee appointed under 11 U.S.C. Sec. 1102;

  (b) assisting the Committee in investigating the acts,
      conduct, assets, liabilities, and financial
      condition of the Debtor, the operation of the
      Debtor's business, potential claims, and any other
      matters relevant to the case, to the sale of assets
      or to the formulation of a plan of reorganization;

  (c) participating in the formulation of a Plan;

  (d) providing legal advice as necessary with respect to
      any disclosure statement and Plan filed in the case
      and with respect to the process for approving or
      disapproving disclosure statements and confirming
      or denying confirmation of a Plan;

  (e) preparing on behalf of the Committee, as necessary,
      applications, motions, complaints, answers, orders,
      agreements and other legal papers;

  (f) appearing in Court to present necessary motions,
      applications, and pleadings, and otherwise protecting
      the interests of those represented by the Committee;

  (g) assisting the Committee in requesting the appointment
      of a trustee or examiner, should such action be
      necessary; and

  (h) performing other legal services as may be required
      and that are in best interests of the Committee and
      creditors.

BPR's hourly rates are:

         Professional                    Hourly Rate
         ------------                    -----------
         Leonard Deming, Of Counsel          $275
         Miguel Saldana, Associate           $290
         Partners range                  $390 to $545
         Paralegals and Law Clerks       $100 to $180

It is BPR's policy to charge its clients for all additional
expenses incurred in connection with the client's case.  The
expenses charged to clients include, among other things, telephone
and telecopier toll and other charges, mail and express mail
charges, special or hand delivery charges, document processing,
photocopying charges, travel expenses, expenses for "working
meals," computerized research, and other expenses.

To the best of the Committee's knowledge and subject to the
verified statement of Darren Brinkman, BPR represents no other
entity in connection with this case, is a "disinterested person" as
that term is defined in 11 U.S.C. Sec. 101(14), and does not hold
or represent any interests adverse to the Debtor or its bankruptcy
estate or the Committee or the interests represented by the
Committee.

                      About Fred Fuller Oil

Hudson, New Hampshire-based Fred Fuller Oil & Propane Co., Inc.,
the largest heating oil company in the state, serving about 30,000
New Hampshire customers.  It sought Chapter 11 protection (Bankr.
D. N.H. Case No. 14-12188) in Manchester, New Hampshire, on Nov.
10, 2014, without stating a reason.  It estimated $10 million to
$50 million in assets and debt.  The Nov. 10, 2014 court filing
shows that the Debtor has about $13.5 million in debts.  Jeremy
Blackman at Concord Monitor reports that the Debtor owes more than
$276,000 to Harvard Pilgrim Health Care and nearly $94,000 to the
city of Laconia and the towns of Hudson, Milford and Northfield.

According to Concord Monitor, the bankruptcy case was initially
filed on Nov. 10 under Chapter 7, but that has since been
terminated and replaced with a Chapter 11 restructuring proposal.

William S. Gannon, Esq., at William S. Gannon PLLC, in Manchester,
serves as counsel to the Debtor.  Fredrick J. Fuller, the
president, signed the bankruptcy petition.

On Feb. 12, 2015, the Office of the United States Trustee appointed
an Official Committee of Unsecured Creditors.  The Committee
selected Brinkman Portillo Ronk, APC, as its counsel with Deming
Law Office acting "of counsel."



FRED FULLER: Proposes BMC Group as Notice Agent
-----------------------------------------------
Fred Fuller Oil & Propane Co. seeks to employ BMC Group, Inc., as
its notice agent.

The Debtor believes that based on discussions with the United
States Trustee and other creditors and parties-in-interest, the
retention of BMC Group as the notice agent in its Chapter 11 case
is necessary and in its best interests.

The Debtor filed its Statement of Financial Affairs and its
Schedules of Assets and Liabilities on November 21, 2014.  The
Debtor did not list any of its customers or former customers as
creditors because it was engaged in negotiations with Ryes Heating
Oils, Inc., for the sale of all, or substantially all of its
operating assets, including its customer lists which were believed
to be the Debtor's most valuable asset.

On the Petition Date, the Debtor had approximately 38,000 current
and former customers.  The Debtor entered into a non-disclosure
agreement with Ryes for the purpose of protecting the value of the
customer lists.

BMC Group has agreed to serve a double-sided single page notice to
the 38,000 customers for $29,815, including postage, or limited
notice to just the 7,000 known to have potential credit claims for
$5,775, including postage.

The Debtor relate that serving the customer notice would be far
more expensive it does it through its chief restructuring officer
or counsel.  The postage alone would cost $18,240 or $3,360 for
38,000 or 7,000 customers, respectively.

Although the Debtor intends to file a motion for an order limiting
notice of administrative matters, the Debtor and its CRO recognize
that from time to time the Debtor may need to make service on all
creditors and other parties-in-interest.

BMC Group will be required to hold the customer service lists in
the strictest confidence.

Tinamarie Feil, president of Client Services of BMC Group, attests
that BMC Group is a "disinterested person" as that term is defined
in Sec. 101(14) of the Bankruptcy Code, with respect to the matters
upon which it is to be engaged.

The Agent can be reached at:

         BMC GROUP, INC.
         Attn: Tinamarie Feil
         600 1st Avenue, Suite 300
         Seattle, WA 98104
         Tel: (206) 499-2169
         E-mail: tfeil@bmcgroup.com

                      About Fred Fuller Oil

Hudson, New Hampshire-based Fred Fuller Oil & Propane Co., Inc.,
the largest heating oil company in the state, serving about 30,000
New Hampshire customers.  It sought Chapter 11 protection (Bankr.
D. N.H. Case No. 14-12188) in Manchester, New Hampshire, on Nov.
10, 2014, without stating a reason.  It estimated $10 million to
$50 million in assets and debt.  The Nov. 10, 2014 court filing
shows that the Debtor has about $13.5 million in debts.  Jeremy
Blackman at Concord Monitor reports that the Debtor owes more than
$276,000 to Harvard Pilgrim Health Care and nearly $94,000 to the
city of Laconia and the towns of Hudson, Milford and Northfield.

According to Concord Monitor, the bankruptcy case was initially
filed on Nov. 10 under Chapter 7, but that has since been
terminated and replaced with a Chapter 11 restructuring proposal.

William S. Gannon, Esq., at William S. Gannon PLLC, in Manchester,
serves as counsel to the Debtor.  Fredrick J. Fuller, the
president, signed the bankruptcy petition.

On Feb. 12, 2015, the Office of the United States Trustee appointed
an Official Committee of Unsecured Creditors.  The Committee
selected Brinkman Portillo Ronk, APC, as its counsel with Deming
Law Office acting "of counsel."



FREEDOM INDUSTRIES: Premature to Address ARCADIS Motion, Says CRO
-----------------------------------------------------------------
Mark Welch, chief restructuring officer for Freedom Industries,
Inc., said that it is premature for the CRO fully address the
motion of ARCADIS US, Inc., at this time.

On March 3, 2015, ARCADIS filed a motion asking the Court to enter
an order for (1) authority to provide ongoing services to the
Debtor; (2) for consideration of pending compensation applications,
(3) for authority to apply retainer, and (4) for assurance of
payment for services to be provided under voluntary remediation and
redevelopment program.

On March 11, the Court required the CRO to file papers identifying
the position of the CRO with respect to the ARCADIS motion.

According to the CRO, he does not take exception to interim
approval of the fees and expenses previously incurred by ARCADIS.
The fees and expenses have been approved by the CRO as noted in the
monthly fee reviews filed by the CRO in the case.  Likewise, the
CRO does not take exception to the application by ARCADIS of the
retainer that it holds pursuant to prior order of the Court.

A show cause hearing has been scheduled for April 9, 2015,
regarding the ultimate disposition of the Freedom bankruptcy case.
The CRO remains hopeful that an updated plan of liquidation with
support from major creditor constituencies, among others, can be
filed before this date, however, due to the ongoing nature of
discussions relating to a plan of liquidation, the CRO cannot
definitively state at this time that such filing will occur.

As reported in the Troubled Company Reporter on Nov. 21, 2014, the
Debtor asked the Bankruptcy Court for permission to modify terms of
employment of ARCADIS U.S., Inc. as environmental consultant
effective as of Oct. 10, 2014.

On July 2, the Debtor filed an expedited application to employ
ARCADIS as environmental consultant to replace the Debtor's then
existing environmental consultant, Civil & Environmental
Consultants, Inc.  The Court approved the original ARCADIS
application on July 2.  The terms and conditions under which
ARCADIS was retained were finite in scope and duration.  Aug. 25,
2014 was the final week of the compensable period under the
original ARCADIS application.

The second ARCADIS application provided, inter alia, that the
Debtor was transitioning into the final stages of its efforts to
comply with the DEP Consent Order, which included:

   (i) comprehensive water and soil investigating; and

  (ii) to the extent required following extensive investigation
and follow up negotiation with the DEP, actual remediation.

ARCADIS will further continue the role for ongoing remediation of
its Charleston facility and to ensure continued compliance with
the Consent Order between the Debtor and the West Virginia DEP.

ARCADIS' current customary hourly rates for the individuals
expected to participate in the cases range from $55 to $200.

Pursuant to the terms of the engagement letter providing for
expanded services submitted by ARCADIS, the total cost of time and
expenses charged to the Debtor for its modified role in the
bankruptcy case will not exceed $160,000 with respect to the
continuation of services previously approved by the Bankruptcy
Court in the original ARCADIS application and the second ARCADIS
application.

The Debtor is represented by:

        Stephen L. Thompson, Esq.
        J. Nicholas Barth, Esq.
        Barth & Thompson, Esq.
        BARTH & THOMPSON
        P.O. Box 129
        Charleston, WV 25321
        Tel: (304) 342-7111
        Fax: (304) 342-6215

             - and -

        Mark E. Freedlander, Esq.
        McGUIREWOODS LLP
        625 Liberty Avenue, 23rd Floor
        Pittsburgh, PA 15222
        Tel: (412) 667-6000
        Fax: (412) 667-6050

                      About Freedom Industries

Freedom Industries Inc. is engaged principally in the business of
producing specialty chemicals for the mining, steel and cement
industries.  The Debtor operates two production facilities located
in (a) Nitro, West Virginia; and (b) Charleston, West Virginia.

The company, connected to a chemical spill that tainted the water
supply in West Virginia, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Case No. 14-bk-20017) on
Jan. 17, 2014.  The case is assigned to Judge Ronald G. Pearson.
The petition was signed by Gary Southern, president.

The Debtor is represented by Mark E Freedlander, Esq., at McGuire
Woods LLP, in Pittsburgh, Pennsylvania; and Stephen L. Thompson,
Esq., at Barth & Thompson, in Charleston, West Virginia.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.  The Committee retained Frost Brown Todd
LLC as counsel.

On March 18, 2014, the Bankruptcy Court approved the hiring of
Mark Welch at MorrisAnderson in Chicago as Freedom's chief
restructuring officer.


FRESH PRODUCE: Holdings Joins Units in Chapter 11
-------------------------------------------------
Fresh Produce Holdings, LLC, commenced a Chapter 11 bankruptcy case
(Bankr. D. Col. Case No. 15-13485) in Denver, Colorado, on April 4,
2015, without stating a reason.

Boulder, Colorado-based Fresh Produce --
http://www.freshproduceclothes.com/-- designs, develops and
markets women's apparel and accessories.  The company says its
collections of tops, pants, skirts and dresses feature a signature
garment dye process with more than 80 percent produced right here
in the USA.  It says products are available in 26 company-owned
boutiques located across the United States, as well as 400
independent retail locations.

The Debtor estimated $10 million to $50 million in assets and debt
in its Chapter 11 petition.

The Debtor is represented by Michael J. Pankow, Esq., at Brownstein
Hyatt Farber Schreck, in Denver.

The case is assigned to Judge Sidney B. Brooks.

The Debtor's subsidiary earlier commenced bankruptcy cases on April
2, 2015: FP Brogan-Sanibel Island, LLC (Case No. 15-13420), Fresh
Produce Coconut Point, LLC (Case No. 15-13421), Fresh Produce of
St. Armands, LLC (Case No. 15-13417), Fresh Produce Retail, LLC
(15-13415), and Fresh Produce Sportswear, LLC (15-13416).


FRESH PRODUCE: Updated Case Summary & 30 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Fresh Produce Holdings, LLC
        2865 Wilderness Place
        Boulder, CO 80301-2257

Case No.: 15-13485

Chapter 11 Petition Date: April 4, 2015

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Sidney B. Brooks

Debtor's Counsel: Michael J. Pankow, Esq.
                  BROWNSTEIN HYATT FARBER SCHRECK, LLP
                  410 17th St., 22nd Fl.
                  Denver, CO 80202
                  Tel: ( ) 303-223-1100
                  Fax: 303-223-1111
                  Email: mpankow@bhfs.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Thomas Vernon, manager.

List of Debtor's 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Antex Knitting Mills                Trade Credit     $3,606,767
3750 South Broadway Place
Los Angeles, CA 90007

Colorway, Inc.                      Trade Credit       $285,968
1275 Boyle Ave
Los Angeles, CA 90023

Engagement Arts Inc.                Trade Credit       $181,820

American Express                    Credit Card        $149,220

Pattern Works Inc.                  Trade Credit       $144,722

Lucky Circle 8 Inc.                 Trade Credit       $118,848

Jaffe Raitt Heuer & Weiss           Legal Services      $95,827

Vera Bradley Sales LLC              Trade Credit        $89,431

EKS&H LLLP                          Accounting services $86,586

Pure & Co. Ltd.                     Trade Credit        $85,592

SVF Broadway CNTR                   Trade Credit        $80,454

Connected Apparel                   Trade Credit        $79,422

FitFlop USA LLC                     Trade Credit        $77,098

C&W Apparel Inc.                    Trade Credit        $75,563

Dahlmann Periwinkle Place           Lease               $74,113

Nothing to Wear Inc.                Trade Credit        $72,906

Newmark Crubb Knight Frank          Lease               $72,728

Nanjing Foreign Trade Co. Ltd.      Trade Credit        $72,573

N Square Inc.                       Trade Credit        $69,075

SBT Fashion                         Trade Credit        $68,509

T&P Apparel Service                 Trade Credit        $68,122

Wallaroo Hat Company LLC            Trade Credit        $59,749

REVGRP                              Trade Credit        $58,576

Evertrends Inc.                     Trade Credit        $58,394

Swatfame                            Trade Credit        $56,796

Sew Simple Inc.                     Trade Credit        $56,638

Charleston Center LLC               Trade Credit        $53,665

Lucky Girl Fashion Inc.             Trade Credit        $53,620

Nugsy Inc.                          Trade Credit        $52,467

The Wilsten Group Inc.                                  $51,724

Fresh Produce Retail, LLC, Fresh Produce Sportswear, LLC,
Fresh Produce of St. Armands, LLC, FP Brogan-Sanibel Island, LLC,
and Fresh Produce Coconut Point, LLC, are affiliates of Fresh
Produce Holdings, LLC that filed Chapter 11 petitions on April 2,
2015.


GENERAL STEEL: Reports $13 Million Net Income in Fourth Quarter
---------------------------------------------------------------
General Steel Holdings, Inc., reported net income of $13.02 million
on $544 million of total sales for the three months ended Dec. 31,
2014, compared with net income of $1.22 million on $549 million of
total sales for the same period in 2013.

For the 12 months ended Dec. 31, 2014, the Company reported a net
loss of $78.3 million on $2.28 billion of total sales compared to a
net loss of $42.6 million on $2.46 billion of total sales in 2013.

As of Dec. 31, 2014, the Company had $2.56 billion in total assets,
$3.12 billion in total liabilities and a $562 million total
deficiency.

As of Dec. 31, 2014, the Company had cash and restricted cash of
$367 million, compared to
$431 million as of Dec. 31, 2013.  The Company had an inventory
balance of $156 million as of Dec. 31, 2014, compared to $213
million as of Dec. 31, 2013.

Henry Yu, chairman and chief executive officer of General Steel
commented, "During the fourth quarter of 2014, particularly in
December, China's steel mills accelerated production after the
required shut-down during the APEC summit, which caused rapid
deterioration in the average selling prices of steel products.  We
believe the near-term challenges for the steel sector will likely
linger, and as such, we are strategically accelerating our business
transformation."

"The formation of our RFID joint venture in February 2015, and the
joint venture for new petroleum storage facility under-preparation
in Maoming City are excellent initial steps in our transformation
into the Internet-of-Things and Logistics sectors.  We are
encouraged by our progress to date, and we anticipate these new
joint ventures will drive strong synergies and efficiency
enhancements for the whole organization."

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

                        http://is.gd/fXtCnR

                   About General Steel Holdings

General Steel Holdings, Inc., headquartered in Beijing, China,
produces a variety of steel products including rebar, high-speed
wire and spiral-weld pipe.  General Steel --
http://www.gshi-steel.com/-- has operations in China's Shaanxi and
Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin
municipality with seven million metric tons of crude steel
production capacity under management.


GETTY IMAGES: Bank Debt Trades at 16% Off
-----------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 84.20
cents-on-the-dollar during the week ended Friday, April 3, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
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 265 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



GO DADDY: Moody's Raises Corp. Family Rating to 'Ba3'
-----------------------------------------------------
Moody's Investors Service upgraded Go Daddy Operating Company,
LLC's Corporate Family Rating to Ba3 from B1, and Probability of
Default rating to Ba3-PD from B1-PD. Moody's also affirmed the Ba3
rating on Go Daddy's first lien credit facilities, and changed the
ratings outlook to stable from negative. The rating actions reflect
Go Daddy's planned $300 million of debt repayment using the
proceeds of the initial public offering (IPO) of its common stock.
Moody's also assigned an SGL-1 speculative grade liquidity rating
reflecting Go Daddy's very good liquidity.

Moody's analyst Raj Joshi said, "The redemption of debt and
increase in cash by approximately $125 million from the proceeds of
the IPO will significantly enhance Go Daddy's financial flexibility
to support its growth initiatives." Based on the company's adjusted
EBITDA, total debt to EBITDA will decline by approximately 1.1x.

The Ba3 Corporate Family Rating reflects Moody's expectations for
revenue growth of approximately 12% to 15% and solid free cash flow
in the low to mid teens percentages of total debt over the next 12
to 18 months. Moody's expects Go Daddy's leverage (total debt to
cash flow from operations plus interest expense) to decline to
about 3.5x over the next 12 months, from approximately 4.6x pro
forma for the IPO, driven by EBITDA growth.

The rating additionally reflects Go Daddy's position as the largest
domain name registrar and a leading web-hosting services provider.
Go Daddy has a strong brand, especially in the generic top level
domain registration market, which has resulted from years of
aggressive marketing and advertising campaigns funded largely by
internally generated cash flow. The company's visible brand and
significant marketing spending drive its strong subscriber growth
and it generates recurring revenues from high customer retention
rates that have exceeded 85% over the last five years.

Go Daddy operates in a highly competitive market for web services,
which is characterized by low barriers to entry, modest pricing
power for basic products, and low average revenue per user that
reflect the low attach rates for value-added incremental services.
Go Daddy's ratings are constrained by the financial sponsors' large
controlling interest in the company and their significant influence
on the company's financial policies.

Moody's could upgrade Go Daddy's ratings if the company maintains
strong revenue growth and controlling shareholders substantially
reduce their equity interest such that leverage (total debt to cash
flow from operations plus interest expense, and incorporating
Moody's standard analytical adjustments) is sustained below 3x.

Moody's could downgrade Go Daddy's ratings if revenue growth rates
decelerate to the mid single digit rates, customer churn increases,
or aggressive financial policies lead Moody's to believe that
leverage (total debt/cash flow from operations plus interest
expense) is unlikely to be sustained below 4.0x and free cash flow
to total debt declines to about 5% of total debt.

Moody's has taken the following ratings actions:

Issuer: Go Daddy Operating Company, LLC

  -- Corporate Family Rating -- Ba3, upgraded from B1

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

  -- US$150 million Senior Secured Revolving Credit Facility, Ba3
     (LGD3), Affirmed

  -- US$1,100 million Senior Secured Term Loan , Ba3 (LGD3),
     Affirmed

Outlook Actions:

  -- Outlook, Changed To Stable From Negative

  -- Speculative Grade Liquidity -- SGL-1, Assigned

Headquartered in Scottsdale, AZ, Go Daddy is a leading provider of
domain name registration, web hosting, and on-demand services. The
company reported $1.4 billion in revenue under U.S. GAAP and about
$1.67 billion of bookings for 2014.

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


GT ADVANCED: Commences Solicitation Bids for DIP Loan Facility
--------------------------------------------------------------
GT Advanced Technologies Inc. on April 3 announced the commencement
of a process to solicit participation in a proposed
debtor-in-possession term loan facility by eligible holders of the
Company's previously issued convertible notes.  The solicitation
process is being conducted in connection with a commitment letter,
dated March 17, between the Company and certain holders of the
Convertible Notes.  The Company was authorized to undertake the
solicitation process pursuant to an order of the Bankruptcy Court
entered on April 2, 2012.

The Company anticipates that the DIP Loan Facility will provide for
loans in an initial aggregate principal amount of $95.0 million,
and will provide for, or permit, a letter of credit facility
providing for the issuance of letters of credit with the aggregate
face amounts outstanding not to exceed $15.0 million.

The opportunity to participate in the DIP Loan Facility is limited
to those holders of the Company's Convertible Notes as of March 13,
2015 that are (i) qualified institutional buyers, as such term is
defined in Rule 144A under the Securities Act of 1933, as amended,
(ii) institutional accredited investors within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act or (iii) an
entity in which all of the equity investors are such institutional
accredited investors.  The opportunity to participate expires at
5:00 p.m., New York City time, on April 23, 2015. Eligible Holders
can contact Kurtzman Carson Consultants by telephone at (917)
281-4800, or by e-mail at GTATInfo@kccllc.com for more
information.

The Company anticipates using the proceeds of the DIP Facility to
fund working capital requirements, pay costs, fees and expenses
incurred in connection with the DIP Loan Facility and the
transactions contemplated thereby and pay other costs and expenses
with respect to the administration of the Company's and certain of
its subsidiaries' Chapter 11 cases.

                  About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced Technologies
Inc. -- http://www.gtat.com/-- produces materials and equipment
for the electronics industry.  On Nov. 4, 2013, GTAT announced a
multiyear supply deal with Apple Inc. to produce sapphire glass
material for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the NASDAQ
stock exchange in October 2014.

As of June 28, 2014, the GTAT Group's unaudited and consolidated
financial statements reflected assets totaling $1.5 billion and
liabilities totaling $1.3 billion.  As of Sept. 29, 2014, GTAT had
$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and eight affiliates
filed voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code (Bankr. D.N.H. Lead Case No. 14-11916).  GT
says that it has sought bankruptcy protection due to a severe
liquidity crisis brought about by its issues with Apple.

The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP as
attorneys and Kurtzman Carson Consultants LLC as claims and
noticing agent.

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than 2,000
sapphire furnaces that GT Advanced owns and has four years to sell,
with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.


GT ADVANCED: Plan Filing Exclusivity Extended to June 3
-------------------------------------------------------
The U.S. Bankruptcy Court extended GT Advanced Technologies Inc.,
et al.'s exclusive periods to file a chapter 11 plan until June 3,
2015, and solicit acceptances for that plan until Aug. 4, 2015.

As reported in the Troubled Company Reporter on Feb. 19, 2015, the
Debtors filed a motion asking the Court to extend their exclusive
periods to  file a plan until June 30, and (b) solicit acceptances
for that plan until Aug. 31.  This was the first exclusivity
periods' extension sought by GTAT.

The Debtors later disclosed in a supplement to the exclusivity
motion that after the motion was filed, the Official Committee of
Unsecured Creditors and certain unaffiliated holders of notes
issued by GT represented by Akin Gump Strauss Hauer & Feld LLP
began discussions to ensure that the extension of the exclusive
periods would be approved on a fully consensual basis.  As a result
of those discussions, GTAT has agreed to reduce the requested
extension of the exclusive periods to 4 months, i.e., extending the
exclusive filing period to June 3, and the solicitation period to
Aug. 4, without prejudice to GTAT's right to seek further extension
of the exclusive periods.

                            Objection

T. Richard Faloh, equity security holder, objected to GT Advanced
Technologies' first motion to extend exclusivity extensions,
stating that there is no compelling reason for Chief Executive
Officer Tom Gutierrez and his cohort to be permitted the extension.
Mr. Faloh said that the managers are in clear violation of their
fiduciary duties to financial stakeholders and their control over
the outcome of the proceedings must be limited, diminished and not
expanded as their request for extensions would grant them.

                  About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced
Technologies
Inc. -- http://www.gtat.com/-- produces materials and equipment  
for the electronics industry.  On Nov. 4, 2013, GTAT announced a
multiyear supply deal with Apple Inc. to produce sapphire glass
material for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the
NASDAQ
stock exchange in October 2014.

As of June 28, 2014, the GTAT Group's unaudited and consolidated
financial statements reflected assets totaling $1.5 billion and
liabilities totaling $1.3 billion.  As of Sept. 29, 2014, GTAT had
$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and eight affiliates
filed voluntary petitions for relief under Chapter 11 of the
United
States Bankruptcy Code (Bankr. D.N.H. Lead Case No. 14-11916).  GT
says that it has sought bankruptcy protection due to a severe
liquidity crisis brought about by its issues with Apple.

The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP as
attorneys and Kurtzman Carson Consultants LLC as claims and
noticing agent.

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than
2,000
sapphire furnaces that GT Advanced owns and has four years to
sell,
with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.



GT ADVANCED: PwC Partner Declares Attests Firm's Disinterestedness
------------------------------------------------------------------
Bankruptcy Judge Henry J. Boroff authorized PricewaterhouseCoopers
LLP's continued services as accounting and tax advisor for GT
Advanced Technologies, Inc.

Kevin P. Smithson, a partner of PwC which maintains offices at,
among other locations, 125, High Street, Boston, Massachusetts,
filed a supplemental declaration in support of the Debtor' motion
to continue to employ PwC.

The Debtors requested for the continued services as accounting and
tax advisor.

To the best of Smithson's knowledge, none of the business
relationships disclosed in his amended declaration create interests
materially adverse to the Debtors in matters upon which PwC is to
be employed.

As reported in the Troubled Company Reporter on Feb. 13, 2015,
William K. Harrington, the U.S. Trustee for Region 1, objected to
the motion to employ PwC as accounting and tax advisor proposed by
the Debtors.  The U.S. Trustee objected to the Debtors' application
to retain the firm because the accounting firm is not disinterested
given its receipt of transfers made by the Debtors totaling
$839,967, of which $404,165 appears to preferential, on the eve of
the Debtors' chapter 11 filing.  Because of the estates' potential
claims against the firm, the firm is not disinterested and the
Debtors' application must be denied, the U.S. Trustee noted.  A
full-text copy of the United States Trustee' objection is available
for free at http://is.gd/8wKLpV

                  About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced Technologies
Inc. -- http://www.gtat.com/-- produces materials and equipment
for the electronics industry.  On Nov. 4, 2013, GTAT announced a
multiyear supply deal with Apple Inc. to produce sapphire glass
material for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the NASDAQ
stock exchange in October 2014.

As of June 28, 2014, the GTAT Group's unaudited and consolidated
financial statements reflected assets totaling $1.5 billion and
liabilities totaling $1.3 billion.  As of Sept. 29, 2014, GTAT had
$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and eight affiliates
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.H. Lead Case No. 14-11916).  GT says
that it has sought bankruptcy protection due to a severe liquidity
crisis brought about by its issues with Apple.

The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP as
attorneys and Kurtzman Carson Consultants LLC as claims and
noticing agent.

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than 2,000
sapphire furnaces that GT Advanced owns and has four years to sell,
with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.


GT ADVANCED: T. Richard Faloh Balks at Contract Attorneys Hiring
----------------------------------------------------------------
T. Richard Faloh, equity security holder, objected to GT Advanced
Technologies' Employee Managers' notice of retention to hire
contract attorneys.  Mr. Faloh tells the Court that further gross
mismanagement by the employed manager Tom Gutierrez and cohort must
be curtailed.

On Jan. 7, 2015, the Court had entered an order providing that in
the event the Debtors determine to retain additional contract
attorneys, upon notice to the Creditors' Committee and the U.S.
Trustee, the Debtors will file notices of such retention, along
with the requisite affidavits of disinterestedness.  The order
further stated that if no objection or response is timely received,
the Debtors will be authorized to retain and pay such contract
attorneys in the manner provided for in the order.

                  About GT Advanced Technologies

Headquartered in Merrimack, New Hampshire, GT Advanced
Technologies
Inc. -- http://www.gtat.com/-- produces materials and equipment  
for the electronics industry.  On Nov. 4, 2013, GTAT announced a
multiyear supply deal with Apple Inc. to produce sapphire glass
material for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the
NASDAQ
stock exchange in October 2014.

As of June 28, 2014, the GTAT Group's unaudited and consolidated
financial statements reflected assets totaling $1.5 billion and
liabilities totaling $1.3 billion.  As of Sept. 29, 2014, GTAT had
$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and eight affiliates
filed voluntary petitions for relief under Chapter 11 of the
United
States Bankruptcy Code (Bankr. D.N.H. Lead Case No. 14-11916).  GT
says that it has sought bankruptcy protection due to a severe
liquidity crisis brought about by its issues with Apple.

The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP as
attorneys and Kurtzman Carson Consultants LLC as claims and
noticing agent.

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than
2,000
sapphire furnaces that GT Advanced owns and has four years to
sell,
with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.



GTX INC: Provides Update on Nasdaq Listing Compliance Process
-------------------------------------------------------------
GTx, Inc. on April 2 provided an update regarding the initiatives
being taken to address the Company's continued listing on The
NASDAQ Capital Market.  As previously reported, on October 8, 2014,
the Company received correspondence from NASDAQ regarding the
Company's non-compliance with the $1.00 minimum bid price
requirement for continued listing on The NASDAQ Global Market.

The Company is addressing the bid price deficiency in the following
manner:

The Company had requested and, on March 16, 2015, received approval
from The NASDAQ Stock Market to transfer its listing from The
NASDAQ Global Market to The NASDAQ Capital Market.  The transfer
was effective at the opening of trading on March 19, 2015, and the
Company's common stock continues to trade under the symbol "GTXI."

On April 1, 2015, the Company was afforded an additional 180-day
grace period, through September 28, 2015, to comply with the
minimum $1.00 bid price requirement, by which date the Company's
common stock must trade above $1.00 for at least ten consecutive
business days.  The Company has also provided written notice to
NASDAQ of its intention to cure the minimum bid price deficiency
during the additional 180-day grace period by effecting a reverse
stock split, if necessary.

The Company remains focused on targeting the androgen receptor in
women with advanced breast cancer using enobosarm, the Company's
oral nonsteroidal selective androgen receptor modulator.  As of
December 31, 2014, the Company's cash and short-term investments
were $49.3 million.

            About NASDAQ Global and Capital Markets

The NASDAQ Capital Market is a continuous trading market that
operates in the same manner as The NASDAQ Global Market.  The
NASDAQ Capital Market includes the securities of approximately 700
companies.  All companies listed on The NASDAQ Capital Market must
meet certain financial requirements and adhere to NASDAQ's
corporate governance standards.

                           About GTx

GTx, Inc., headquartered in Memphis, Tenn., is a biopharmaceutical
company dedicated to the discovery, development, and
commercialization of small molecules for the treatment of cancer,
including treatments for breast and prostate cancer, and other
serious medical conditions.


HCR HEALTHCARE: S&P Affirms 'B-' CCR & Revises Outlook to Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Toledo, Ohio-based skilled nursing and assisted
living facility operator HCR HealthCare LLC and revised its outlook
to stable from negative.

The 'B' issue-level rating and the recovery rating of '2' on the
company's term loan remain unchanged.  S&P's recovery rating of '2'
reflects its expectation for meaningful recovery (70% to 90%; in
the lower end of the range) in the event of a default.

S&P does not view an amendment of a lease obligation as an event of
default in our ratings, even in the context of financial distress.

"The outlook revision reflects our assessment that the company will
be able to generate modest free cash flow over the next two years,
following the amendment on the company's master lease with its
lessor, HCP," said Standard & Poor's credit analyst David Kaplan.
Under this amendment HCR will receive a $68 million reduction on
its annual lease payments in exchange for transferring ownership of
nine facilities to HCP and issuing a $250 million paid-in-kind
deferred lease obligation to HCP.  This deferred lease obligation
will be part of the broader lease obligation.

Although this amendment materially improves the cash flow in the
near term, S&P continues to view cash flows as thin and facing
headwinds by the annual rent escalators.  S&P expects the company
to try to exit leases on loss-generating facilities, where a
smaller local provider may be able to operate those at a profit.
This could enhance profitability by as much as $25 million over the
coming year.

S&P's corporate credit rating on HCR HealthCare continues to
reflect S&P's assessment of the company's business risk profile as
"weak" and its financial risk profile as "highly leveraged," as
well as S&P's view that its financial risk is comparatively weak
within the highly leveraged assessment.

S&P's outlook is stable, reflecting its expectation that HCR will
generate modestly positive free cash flow over the next two years
and continue to operate with margins at current levels given the
mature and low-growth nature of the skilled nursing industry, and
despite reimbursement headwinds and escalating lease payments.

S&P could lower the rating if it sees margin pressure leading to
significant cash flow deficits leading S&P to believe the company
is unable to sustain the burden of fixed obligations in the capital
structure.

While an upgrade is unlikely in 2015, this could occur if the
company demonstrates it's able to generate substantial positive
free flow on a consistent basis, despite lease escalators.



HEALTHWAREHOUSE.COM INC: Narrows Net Loss to $1.78M in 2014
-----------------------------------------------------------
HealthWarehouse.com, Inc. (OTCQB:HEWA), the only VIPPS accredited
online and mail-order pharmacy licensed in all 50 states, announced
financial results for the year ended Dec. 31, 2014.

For the year ended Dec. 31, 2014, gross margin improved to 59.3%,
up from 50.0%, while net loss narrowed by 67.5%, to ($1,783,279)
from ($5,489,892).  Net sales were $6,129,660 for the year ended
Dec. 31, 2014, a 40.1% decrease from the comparable period in 2013,
as the Company shed non-profitable business relations in 2014 to
focus on the higher margin out of pocket cash prescription market.

For the year ended Dec. 31, 2014, the Company reported adjusted
EBITDAS of ($596,594), vs. adjusted EBITDAS of ($870,207) in the
year ended Dec. 31, 2013, an improvement of 31.4%.  The Company
believes that Adjusted EBITDAS (Earnings Before Interest, Taxes,
Depreciation, Amortization and Stock-Based Compensation), a
non-GAAP financial measure, is useful in evaluating its operating
performance compared to that of other companies in our industry.

Mr. Lalit Dhadphale, HealthWarehouse.com's president and CEO,
commented, "In order to position our Company for sustainable and
profitable growth, we made the decision to focus our business
efforts on the growing out of pocket prescription market and wind
down other non-profitable business relations in late 2013 and 2014.
With continued pressures on employers to contain healthcare costs,
consumers are assuming higher co-pays and deductibles, and paying
more upfront out of pocket expenses for their prescriptions. This
opportunity in the cash prescription market has never been
greater."

"While this transition negatively impacted revenue growth, we
continue to realize improved gross margins and operating
efficiencies from the implementation of our 2013/2014 initiatives
as operating losses continue to shrink.  With these right-sizing
measures in place and the completion of the capital raise in the
second half of last year, we are turning our attention toward
renewing revenue growth through new marketing initiatives and
improved customer experience with improvements to our website.  The
combination of top line growth and improved operating margins
should position us for profitable growth going forward.”

                    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.

Healthwarehouse.com reported a net loss attributable to common
stockholders of $2.08 million on $6.12 million of net sales for the
year ended Dec. 31, 2014, compared with a net loss attributable to
common stockholders of $7.3 million on $10.23 million of net sales
in 2013.

As of Dec. 31, 2014, the Company had $1.66 million in total assets,
$5.28 million in total liabilities, and a $3.62 million total
stockholders' deficiency.

Marcum LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2014, citing 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.

                        Bankruptcy Warning

"The Company recognizes it will need to raise additional capital in
order to fund operations, 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 said in the report.


HEXION INC: Proposes $315 Million Debt Offering
-----------------------------------------------
Hexion Inc. is proposing to issue $315 million aggregate principal
amount of new First-Priority Senior Secured Notes due 2020 in a
private offering that is exempt from the registration requirements
of the Securities Act of 1933, as amended.

The Notes will be senior obligations of the Company and will be
guaranteed on a senior secured basis by the Company's existing
domestic subsidiaries that guarantee obligations under its senior
secured asset-based revolving credit facility and its future
domestic subsidiaries that guarantee any debt of the Company or the
guarantors.  The Notes and guarantees will be secured by
first-priority liens on the notes priority collateral (which
generally includes most of the Company's and the Company's domestic
subsidiaries' assets other than the ABL priority collateral) and by
second-priority liens on the ABL priority collateral (which
generally includes most of the Company's and the Company's domestic
subsidiaries' inventory and accounts receivable and related
assets), in each case subject to certain exceptions and permitted
liens.

The Company intends to use approximately $40 million of the net
proceeds from the offering of the Notes to repay or redeem all of
its outstanding 8 3⁄8% Sinking Fund Debentures due 2016 and to
use the remaining net proceeds to repay in full all amounts
outstanding under the ABL Facility and for general corporate
purposes.  The proposed offering of the Notes is subject to market
and other conditions, and may not occur as described or at all.

The Company also announced that it had received commitments from
the necessary lenders to amend the ABL Facility in order to (i) add
one of its German subsidiaries as a borrower and certain of its
German subsidiaries as guarantors and (ii) expand its borrowing
base to include a specified percentage of eligible foreign
machinery, equipment and real property, subject to certain
limitations. While the valuation of the machinery, equipment and
real property will be subject to appraisals, the Company estimates
that, with the addition of the German borrower and guarantors and
the foreign machinery, equipment and real property, the borrowing
base would have increased at Dec. 31, 2014, from $363 million to an
amount that would permit access to the entire $400 million size of
the ABL Facility.  Completion of the amendment is subject to
execution of definitive documentation and customary closing
conditions, including completion of the proposed offering.  Closing
of the proposed offering is not conditioned upon closing of the
amendment, and there can be no assurance that the Company will
complete such amendment or that, if it does, the appraised value of
the machinery, equipment and real property will be sufficient to
increase the Company’s borrowing base as contemplated.

The Notes are being offered only to qualified institutional buyers
in reliance on Rule 144A under the Securities Act, and outside the
United States, only to non-U.S. investors in reliance on Regulation
S under the Securities Act.  The Notes will not be initially
registered under the Securities Act or any state securities laws
and may not be offered or sold in the United States absent an
effective registration statement or an applicable exemption from
registration requirements or a transaction not subject to the
registration requirements of the Securities Act or any state
securities laws.

                        About Hexion Inc.

Hexion Inc., formerly known as Momentive Specialty Chemicals, Inc.,
headquartered in Columbus, Ohio, is a producer of thermoset resins
(epoxy, formaldehyde and acrylic).  The company is also a supplier
of specialty resins for inks and specialty coatings sold to a
diverse customer base as well as a producer of commodities such as
formaldehyde, bisphenol A, epichlorohydrin, versatic acid and
related derivatives.

Hexion reported a net loss of $148 million in 2014 following a net
loss of $634 million in 2013.  As of Dec. 31, 2014, Hexion had
$2.67 billion in total assets, $5.02 billion in total liabilities
and a $2.35 billion total deficit.

                           *     *     *

The TCR reported on Oct. 3, 2014, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Momentive
Specialty by one notch to 'CCC+' from 'B-'.  "The downgrade
follows
MSC's significant use of cash in the first half of 2014 and our
expectation that lackluster cash flow from operations and elevated
capital spending will cause free operating cash flow to be
significantly negative in 2014 and 2015," said Standard & Poor's
credit analyst Cynthia Werneth.

As reported by the TCR on Dec. 15, 2014, Moody's Investors Service
lowered the Corporate Family Rating of Momentive to 'Caa1' from
'B3'.  "Due to elevated leverage, heavy capital spending on new
capacity in 2014 and 2015, and the lack of meaningful improvement
in financial performance, Moody's have lowered Momentive
Specialty's rating," stated John Rogers, senior vice president at
Moody's.


HRK HOLDING: LT Care Line of Credit Maturity Date Moved to Sept. 7
------------------------------------------------------------------
The Hon. K. Rodney May of the U.S. Bankruptcy Court for the Middle
District of Florida extended the maturity under the long term care
line of credit from March 31, 2015 to Sept. 7, 2015, as requested
by HRK Holdings LLC and HRK Industries LLC.

As reported in the Troubled Company Reporter on Dec. 16, 2014, the
Bankruptcy Court directed the Debtors to file a modification to the
final order on the fourth motion to obtain DIP financing.

The Court previously entered a final order approving the Fourth DIP
facility from Regions Bank.  Pursuant to the Fourth DIP Facility,
the Debtors established a line of credit from funds made available
upon closing of sales to Allied, Mayo, and Thatcher Chemical of
Florida, Inc., to address certain long-term case issues with
respect to the maintenance of the Gypstacks -- phosphogypsum stack
system.

                        About HRK Holdings

HRK Holdings and HRK Industries LLC filed for Chapter 11
protection (Bankr. M.D. Fla. Case Nos. 12-09868 and 12-09869) on
June 27, 2012.  Judge K. Rodney May oversees the case.  Barbara A.
Hart, Esq., and Scott A. Stichter, Esq., at Stichter, Riedel,
Blain & Prosser, P.A., represents the Debtors.

HRK Holdings disclosed $33.4 million in assets and $26.09 million
in liabilities in its revised schedules.

According to the Debtors, the bankruptcy filing was necessitated
by the immediate need to sell a portion of the remaining property
to create liquidity for (a) funding the urgent management of the
site-related environmental concerns; the benefit of creditors;
funding a litigation filed by the Debtors; and funding of expenses
related to additional sales of the remaining property.

HRK Holdings is selling real property assets to Allied Universal
Corp. and Mayo Fertilizer, Inc.  The Court allowed HRK and the
purchasers to enter into any modifications to the agreements
without need of further Court approval, provided that no
amendments will occur without prior consent of Regions Bank.


HRK HOLDINGS: Can Access Arsenal's DIP Facility on Interim Basis
----------------------------------------------------------------
The Hon. K. Rodney May of the U.S. Bankruptcy Court for the Middle
District of Florida authorized, on an interim basis, HRK Holdings
LLC and HRK Industries LLC to obtain post-petition financing from
The Arsenal Group LLC pursuant to the debtor-in-possession budget.
A full-text copy of the DIP budget is available for free at
http://is.gd/62SWQM

The Debtors told the Court, to avoid immediate and irreparable harm
to their estates until the final hearing is held, they need to
borrow up to the maximum of $146,981 under the DIP facility to be
advanced by the DIP lender and perform all of their obligations.

Judge May will hold a final hearing on April 16, 2015, at 11:00
a.m. on the DIP financing facility.

                        About HRK Holdings

HRK Holdings and HRK Industries LLC filed for Chapter 11 protection
(Bankr. M.D. Fla. Case Nos. 12-09868 and 12-09869) on June 27,
2012.  Judge K. Rodney May oversees the case.  Barbara A. Hart,
Esq., and Scott A. Stichter, Esq., at Stichter, Riedel, Blain &
Prosser, P.A., represents the Debtors.

HRK Holdings disclosed $33.4 million in assets and $26.09 million
in liabilities in its revised schedules.

According to the Debtors, the bankruptcy filing was necessitated by
the immediate need to sell a portion of the remaining property to
create liquidity for (a) funding the urgent management of the
site-related environmental concerns; the benefit of creditors;
funding a litigation filed by the Debtors; and funding of expenses
related to additional sales of the remaining property.

HRK Holdings is selling real property assets to Allied Universal
Corp. and Mayo Fertilizer, Inc.  The Court allowed HRK and the
purchasers to enter into any modifications to the agreements
without need of further Court approval, provided that no amendments
will occur without prior consent of Regions Bank.


HUTCHESON MEDICAL: Might Start Paying Walker County in May
----------------------------------------------------------
Tyler Jett, writing for Timesfreepress.com, reports that Hutcheson
Medical Center, Inc.'s governing body issued on March 25, 2015, a
promissory note pledging $4.6 million to Walker County, Georgia.

According to Timesfreepress.com, the note includes interest at 7.5%
a year, payable monthly, which would give Walker County about
$28,000 every 30 days.  The report states that the note doesn't say
when those payments will begin, but Commissioner Bebe Heiskell
thinks the money will begin to arrive in May.

Timesfreepress.com relates that while legal experts say that the
promise is worth less than the paper on which it is printed, Ms.
Heiskell is confident she will receive the much-needed,
seven-figure windfall.

The note is legal because it's not coming from the Hospital, but
from the Hospital Authority of Walker, Catoosa and Dade Counties,
Timesfreepress.com says, citing Bobby Guy, former co-chairman of
the American Bankruptcy Institute's Healthcare Committee.

"But there's probably a creditor or two out there considering a
challenge," Timesfreepress.com quoted Georgia State law professor
Jessica Dawn Gabel as saying.  Ms. Gabel, according to the report,
said that other hospital creditors lined up ahead of Walker County
likely would object in court.

Timesfreepress.com recalls that in 2013, the Hospital's officials
needed loans from Erlanger Health System and Regions Bank to pay
the North Georgia hospital's workers.  The report says that Catoosa
County promised to cover about $3.5 million of the debt and Walker
County about $4.5 million, if the Hospital couldn't pay off the
loans.  The report adds that with that money due this year and the
Hospital bankrupt, the two counties had to make those payments --
Catoosa County leaders dipped into their reserves, while Ms.
Heiskell took out a tax anticipation note, essentially a new loan
to pay off the old one.

                  About Hutcheson Medical Center

Hutcheson Medical Center, Inc., operates the 179-bed hospital and
related ancillary facilities, including, without limitation, a
skilled nursing home and an ambulatory surgery center, located in
Ft. Oglethorpe, Georgia, known as Hutcheson Medical Center.  HMC
leases the land and buildings that comprise the Medical Center
from The Hospital Authority of Walker, Dade and Catoosa Counties.

HMC and Hutcheson Medical Division, Inc., sought Chapter 11
bankruptcy protection (Bankr. N.D. Ga. Case No. 14-42863 and
14-42864) in Rome, Georgia, on Nov. 20, 2014.  The cases are
jointly administered under Case No. 14-42863.

The cases have been assigned to the Honorable Paul W. Bonapfel.

The Debtors are represented by Ashley Reynolds Ray, Esq., and J.
Robert Williamson, Esq., at Scroggins and Williamson, in Atlanta,
Georgia.

The Debtors' Chapter 11 Plan and Disclosure Statement are due March
20, 2015.

HMC disclosed $32.8 million in assets and $52.9 million in
liabilities as of the Chapter 11 filing.

No request has been made for the appointment of a trustee or
examiner.


IHEARTCOMMUNICATIONS INC: Parent Sells 367 Tower Sites for $369M
----------------------------------------------------------------
iHeartMedia, Inc., IHeartCommunications, Inc.'s indirect parent,
and certain of its subsidiaries completed the first closing of the
company's previously-announced agreement with an affiliate of
Vertical Bridge Holdings, LLC, for the sale of 411 of the company's
broadcast communications tower sites and related assets for up to
$400 million, according to a document filed with the Securities and
Exchange Commission.

In connection with the first closing, the company sold 367 of its
tower sites and related assets in exchange for approximately $369
million of proceeds.  Simultaneous with the first closing, the
company entered into lease agreements for the continued use of the
towers, pursuant to which the company will have annual lease
payments of approximately $20.8 million.  This will result in a
loss of annual tenant revenue of approximately $10.7 million, a
reduction of direct operating expenses of approximately $3.3
million annually and an annual cash impact of $28.2 million.  The
initial term of the leases is 15 years followed by three additional
periods of five years each, subject to exclusions and limitations.
Subsequent closings will occur as and to the extent defects are
cured with respect to any tower sites excluded in the first
closing.  Proceeds of the sale will be used for general corporate
purposes.

                     About iHeartCommunications

iHeartCommunications, Inc., (formerly known as Clear Channel
Communications, Inc.) is a global media and entertainment company.
The Company specializes in radio, digital, outdoor, mobile,
social, live events, on-demand entertainment and information
services for local communities, and uses its unparalleled national
reach to target both nationally and locally on behalf of its
advertising partners.  The Company is dedicated to using the
latest technology solutions to transform the company's products
and services for the benefit of its consumers, communities,
partners and advertisers, and its outdoor business reaches over 40
countries across five continents, connecting people to brands
using innovative new technology.

IHeartcommunications reported a net loss attributable to the
Company of $794 million in 2014, compared to a net loss
attributable to the Company of $606.9 million in 2013.

As of Dec. 31, 2014, the Company had $14.04 billion in total
assets, $23.70 billion in total liabilities and a $9.66 billion
total shareholders' deficit.

                         Bankruptcy Warning

"We and our subsidiaries may not generate cash flow from operations
in an amount sufficient to fund our liquidity needs.  We anticipate
cash interest requirements of approximately $1.6 billion during
2015.  At December 31, 2014, we had debt maturities totaling $3.6
million, $1,126.9 million (net of $57.1 million due to a subsidiary
of ours), and $8.2 million in 2015, 2016, and 2017, respectively.
We are currently exploring, and expect to continue to explore, a
variety of transactions to provide us with additional liquidity.
We cannot assure you that we will enter into or consummate any such
liquidity-generating transactions, or that such transactions will
provide sufficient cash to satisfy our liquidity needs, and we
cannot currently predict the impact that any such transaction, if
consummated, would have on us."

"The ability to refinance the debt will depend on the condition of
the capital markets and our financial condition at such time.  Any
refinancing of the debt could be at higher interest rates and
increase debt service obligations and may require us and our
subsidiaries to comply with more onerous covenants, which could
further restrict our business operations.  The terms of existing or
future debt instruments may restrict us from adopting some of these
alternatives.  These alternative measures may not be successful and
may not permit us or our subsidiaries to meet scheduled debt
service obligations.  If we or our subsidiaries cannot make
scheduled payments on indebtedness, we or our subsidiaries, as
applicable, will be in default under one or more of the debt
agreements and, as a result we could be forced into bankruptcy or
liquidation," the Company stated in its 2014 Annual  Report.

                           *     *     *

In May 2013, Moody's Investors Service said that Clear Channel's
upsize of the term loan D to $4 billion from $1.5 billion will not
impact the Caa1 facility rating assigned.  Clear Channel's
Corporate Family Rating is unchanged at Caa2.  The outlook remains
stable.

As reported by the TCR on May 21, 2013, Standard & Poor's Ratings
Services announced that its issue-level rating on San
Antonio, Texas-based Clear Channel's senior secured term loan
remains unchanged at 'CCC+' following the company's upsize of the
loan to $4 billion from $1.5 billion.  The rating on parent
company CC Media Holdings remains at 'CCC+' with a negative
outlook, which reflects the risks surrounding the long-term
viability of the company's capital structure.

As reported by the TCR on Feb. 4, 2015, Fitch Ratings has affirmed
the Issuer Default Rating (IDR) of iHeartCommunications, Inc.
(iHeart) at 'CCC'.


IMH FINANCIAL: Incurs $39.5 Million Net Loss in 2014
----------------------------------------------------
IMH Financial Corporation filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common shareholders of $39.5 million on $31.4
million of total revenue for the year ended Dec. 31, 2014, compared
with a net loss attributable to common shareholders of $26.2
million on $23.3 million in 2013.  The Company previously reported
a net loss attributable to common shareholders of $32.2 million in
2012.

As of Dec. 31, 2014, the Company had $182 million in total assets,
$90.8 million in total liabilities, $27.3 million in redeemable
convertible preferred stock and $63.7 million in total
stockholders' equity.

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

                        http://is.gd/xee686

                         About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.


IMH FINANCIAL: Reports Adjusted EBITDA of $13.7 Million for 2014
----------------------------------------------------------------
IMH Financial Corporation reported annual adjusted EBITDA of $13.7
million or $0.86 per common share, excluding certain one-time and
non-cash charges, for 2014, compared to adjusted EBITDA loss of
$(2.8) million, or $(0.17) per common share, for the same period in
2013.  The Company reported adjusted EBITDA for the three months
ended Dec. 31, 2014, of $1.5 million, or $0.10 per common share,
excluding certain one-time and non-cash charges, compared to
adjusted EBITDA of $0.9 million, or $0.05 per common share, for the
same period in 2013.

Lawrence Bain, Chairman and CEO of IMH Financial Corporation, said,
"Calendar year 2014 represented a material threshold year for IMH.
In this period we completed the settlement of the class action law
suit, changed management and the Board of Directors with a majority
of independent directors and restructured our senior debt which
will save us over $8 million per year in reduced interest costs
over the life of the loans.  In addition, we enjoyed record setting
revenues and earnings at our hotel assets. These earnings will
provide the capital needed to complete the final phase of the
rehabilitation at those assets this summer, setting the stage for
further revenues and earnings enhancements. We also began the
construction of our 196-unit multi family complex in Apple Valley,
Minnesota, which is progressing as planned, and on budget.  The
first tenants will occupy that building in the 4th quarter of this
year.  In calendar year 2015, IMH will continue on the path to
liquidate the remaining non-performing real estate assets and begin
our redeployment to performing investments."

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

                         http://is.gd/OIRa3f

                        About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

IMH Financial reported a net loss of $26.2 million in 2013, a net
loss of $32.2 million in 2012 and a net loss of $35.2 million in
2011.

As of Sept. 30, 2014, the Company had $199 million in total
assets, $97.6 million in total liabilities, $26.8 million in
redeemable convertible preferred stock, and $75.1 million in total
stockholders' equity.


J. CREW: Bank Debt Trades At 7% Off
-----------------------------------
Participations in a syndicated loan under which J. Crew is a
borrower traded in the secondary market at 92.73 cents-on-the-
dollar during the week ended Friday, April 3, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 3.03 of
percentage points from the previous week, The Journal relates.  J.
Crew pays 300 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 27, 2021 and carries
Moody's B1 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 265 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



LEHMAN BROTHERS: Moore Capital Denied "Customer" Status
-------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that U.S.
District Judge Shira Scheindlin in New York, in the case involving
the liquidation of Lehman Brothers Holdings' brokerage unit, issued
a highly technical opinion dealing with brokerage and commodity law
and regulations.

According to the report, in the opinion, Judge Scheindlin agreed
with James Giddens, the trustee liquidating the brokerage unit,
that one of the affiliates of  Moore Capital Management LP, which
was one of the customers of the brokerage, was not a "customer"
under the commodity brokerage provisions in Section 761(4) of the
Bankruptcy Code.  The report, however, said the judge left Moore
with one glimmer of hope as the judge kept part of the lawsuit
alive to determine whether there was a trust arrangement between
Moore and the brokerage.

The case is Lehman Brothers Inc. v. Moore Capital Management LP,
14-cv-00535, 2015 BL 71935, U.S. District Court, Southern District
New York (Manhattan).

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more than
150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
disclosed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in U.S.
history.  Several other affiliates followed thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset LLC
sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve as
counsel to the Official Committee of Unsecured Creditors.  Houlihan
Lokey Howard & Zukin Capital, Inc., is the Committee's investment
banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant to
the provisions of the Securities Investor Protection Act (Case No.
08-CIV-8119 (GEL)).  James W. Giddens has been appointed as trustee
for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

As of Oct. 2, 2014, Lehman's total distributions to unsecured
creditors have amounted to $92.0 billion.  As of Sept. 30, 2014,
the brokerage trustee has substantially completed customer claims
distributions, distributing more than $106 billion to 111,000
customers.


LIFE PARTNERS: Committe Wants Add'l Disclosure on Meyer's Hiring
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of debtor Life Partners Holdings, Inc., to the Debtor's
application to employ Meyer, Unkovic & Scott, LLP as special
litigation counsel.

According to the Committee, absent further disclosures regarding
the nature of the proceedings that would establish an absence of
potential conflicts relating to the specific engagements, it
objects to the application based on potential conflicts that exist
with respect to Meyer's proposal to simultaneously represent Pardo,
Pardo Family Holdings, and Peden, in addition to LPHI and LPI, in
connection with the Morrow Case.

                          The Application

As reported in the Troubled Company Reporter on March 18, 2015, the
Debtor requested that the Court permit the special litigation
counsel employment nunc pro tunc to the Petition Date.

Meyer Unkovic will continue to advise and represent the Debtor with
respect to the Morrow Lawsuit.  To the extent necessary, Meyer
Unkovic will assist the Debtor with the prosecution of its plan of
reorganization as it relates to the Morrow Lawsuit.

Meyer Unkovic 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. Meyer Unkovic
acknowledges that it will be compensated in accordance with the
procedures set forth in the applicable provisions of the Bankruptcy
Code, the Federal Rules of Bankruptcy Procedure, the Court's local
rules, including L.R. 2016, and such procedures as may be fixed by
order of the Court.

As of the Petition Date, Meyer Unkovic had outstanding fees due and
owing in connection with its representation of the Debtor in the
amount of $4,942.  Meyer Unkovic has not received a retainer or
trust deposit in connection with its engagement agreement with the
Debtor.  All payments that Meyer Unkovic has received in this
engagement have been made by the Debtor's subsidiary Life Partners,
Inc.

Joshua R. Lorenz, partner of Meyer Unkovic, 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.

                         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.

Waco, Texas-based 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.  The Committee tapped Munsch Hardt Kopf & Harr, P.C., as
counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

H. Thomas Moran II was appointed as Chapter 11 trustee for the
case.



LIFE PARTNERS: Committee Balks at Hudson & Calleja's Employment
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of debtor Life Partners Holdings, Inc., objects to the
Debtor's application to employ Hudson & Calleja, LLC as special
litigation counsel.

To the extent that Hudson is proposed to continue to represent
other defendants, the Committee objects based on the existence of
potential conflicts relating to specific engagement.

The Committee recognizes that, as proposed special counsel, Hudson
is required to hold and represent no interest adverse to the Debtor
only with respect to the matters for which it is proposed to be
retained.

The application notes that, prior to the Petition Date, Hudson
represented the Debtor and other Defendants in the Woelfel Case --
Woelfel, et al. v. Life Partners, Inc., et al.

The application notes that LPI paid all fees owed by the defendants
to Hudson.  The application further states that, as of the Petition
Date, approximately $10,109 in fees were owing to Hudson stemming
from Hudson's representation of the defendants in the Woelfel Case.
Hudson does not disclose whether it has received payments related
to representation of the Debtor in the 90 days preceding the
Petition Date.

Having represented the other defendants as to the instant subject
matter, Hudson cannot assert any claims against them on behalf of
the Debtor relating to same.

                         The Application

As reported in the Troubled Company Reporter on March 18, 2015, the
Debtor is seeking authorization to employ Hudson & Calleja, LLC as
special litigation counsel, nunc pro tunc to the Jan. 20, 2015
petition date.

Hudson & Calleja will continue to advise and represent the Debtor
with respect to the Woelfel Lawsuit.  To the extent necessary,
Hudson & Calleja will assist the Debtor with the prosecution of its
plan of reorganization as it relates to the Woelfel Lawsuit.

Hudson & Calleja 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.  Hudson & Calleja
acknowledges that it will be compensated in accordance with the
procedures set forth in the applicable provisions of the Bankruptcy
Code, the Federal Rules of Bankruptcy Procedure, the Court's local
rules, including L.R. 2016, and such procedures as may be fixed by
order of this Court.

As of the Petition Date, Hudson & Calleja had outstanding fees due
and owing in connection with its representation of the Debtor in
the amount of $10,110.  Hudson & Calleja has not received a
retainer or trust deposit in connection with its engagement
agreement with the Debtor.  All payments that Hudson & Calleja has
received in this engagement have been made by the Debtor's
subsidiary Life Partners, Inc.

Robert W. Hudson, shareholder and co-founder of Hudson & Calleja,
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.

                         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.

Waco, Texas-based 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.  The Committee tapped Munsch Hardt Kopf & Harr, P.C., as
counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

H. Thomas Moran II was appointed as Chapter 11 trustee for the
case.



LIFE PARTNERS: Committee Wants Douglas Berman to Disclose More Info
-------------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of debtor Life Partners Holdings, Inc., objected to the
Debtor's application to employ the Law Office of Douglas M. Berman,
PLLC, as special securities counsel.

The Committee stated that Berman must, at a minimum, be compelled
to make further disclosures in connection with the application, and
specifically disclose the time period during which it represented
the Debtor on a prepetition basis, and specifically whether the
services include legal counsel regarding securities compliance in
connection with the Securities and Exchange Commission (SEC).

                         The Application

As reported in the Troubled Company Reporter on March 18, 2015, the
Debtor is seeking approval to employ the firm as special securities
counsel, nunc pro tunc to the Jan. 20, 2015.

Berman will continue to advise and represent the Debtor with
respect to securities compliance matters.  To the extent necessary,
Berman will assist the Debtor with the prosecution of its plan of
reorganization as it relates to compliance with applicable
securities laws.

Berman 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.  Berman acknowledges that it will be
compensated in accordance with the procedures set forth in the
applicable provisions of the Bankruptcy Code, the Federal Rules of
Bankruptcy Procedure, the Court's local rules, including L.R. 2016,
and such procedures as may be fixed by order of this Court.

As of the Petition Date, Berman had outstanding fees due and owing
in connection with its representation of the Debtor in the amount
of $4,631.  Prior to the Petition Date, the Debtor maintained with
Berman a retainer of $10,000 in connection with its engagement
agreement with the Debtor that was replenished with each billing
cycle.  All payments that Berman has received in this engagement
have been made by the Debtor's subsidiary Life Partners, Inc.

Douglas M. Berman 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.

                         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.  The Committee tapped Munsch Hardt Kopf & Harr, P.C., as
counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

H. Thomas Moran II was appointed as Chapter 11 trustee for the
case.


LIFE PARTNERS: Panel Says Alexander Application Must be Withdrawn
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Life Partners Holdings, Inc., objected to the Debtor's
application to employ Alexander Dubose Jefferson & Townsend LLP as
special litigation counsel, nunc pro tunc to the Jan. 20, 2015
petition date.

According to the Committee, the application must be withdrawn, or
at a minimum, deferred for consideration by the Chapter 11 trustee,
considering the numerous other engagement applications filed by the
Debtor, and in light of the very recent appointment of the
trustee.

The Committee noted that Alexander does not disclose whether it has
received payments related to representation of the Debtor in the 90
days preceding the Petition Date.  The application does
state that, as of the Petition Date, $14,355 in fees was owing to
Alexander stemming from Alexander's representation of the
defendants in the Texas Supreme Court case, and $21,430 in fees was
owing to Alexander stemming from Alexander's representation of the
defendants in the Fifth Circuit appeal.

As reported in the TCR on March 18, 2015, Alexander Dubose will
continue to advise and represent the Debtor with respect to the
Texas Supreme Court Appeal and the Fifth Circuit Appeal.  To the
extent necessary, Alexander Dubose will assist the Debtor with the
prosecution of its plan of reorganization as it relates to these
matters.

Alexander Dubose 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.  Alexander Dubose
acknowledges that it will be compensated in accordance with the
procedures set forth in the applicable provisions of the Bankruptcy
Code, the Federal Rules of Bankruptcy Procedure, the Court's local
rules, including L.R. 2016, and such procedures as may be fixed by
order of this Court.

As of the Petition Date, Alexander Dubose had outstanding invoiced
fees due and owing in connection with its representation of the
Debtor in the Texas Supreme Court Appeal in the amount of $14,355
all for services rendered prior to the Petition Date.  As of the
Petition Date, Alexander Dubose had incurred an additional $1,140
in fees in connection with the Texas Supreme Court Appeal that were
not invoiced before the Petition Date ($900.00 of that amount was
incurred prior to and through Jan. 19, 2015; $240.00 of that amount
was incurred on Jan. 20, 2015 through Jan. 31, 2015).

In connection with the Fifth Circuit Appeal, Alexander Dubose has
outstanding invoiced fees due and owing in the amount of $21,430
for services rendered prior to the Petition Date, and it has
additional, un-invoiced fees in connection with the Fifth Circuit
Appeal that were not invoiced before the Petition Date in the
amount of $16,500 ($3,360 of that amount was incurred prior to and
through Jan. 19, 2015; $13,140 of that amount was incurred on Jan.
20, 2015 through Jan. 31, 2015).  Douglas W. Alexander of Alexander
Dubose 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 Committee is represented by:

         Joseph J. Wielebinski, Esq.
         Jay Ong, Esq.
         Thomas D. Berghman, Esq.
         MUNSCH HARDT KOPF & HARR, P.C.
         3800 Ross Tower
         500 North Akard Street
         Dallas, TX 75201-6659
         Tel: (214) 855-7500
         Fax: (214) 855-7584
         E-mail: jwielebinski@munsch.com
                 jong@munsch.com
                 tberghman@munsch.com

                         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.

Waco, Texas-based 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.  The Committee tapped Munsch Hardt Kopf & Harr, P.C., as
counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

H. Thomas Moran II was appointed as Chapter 11 trustee for the
case.



LIFE PARTNERS: Panel Says Trustee to Decide Hiring of MacKenzie
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Life Partners Holdings, Inc., objected to the Debtor's
application to employ C. Alfred MacKenzie, Attorney at Law, as
special litigation counsel.

According to the Committee, the application noted that prior to the
Petition Date, Mackenzie represented the Debtor well as its wholly
owned subsidiary, Life Partners, Inc.

The application noted that, LPI, Brian Pardo, Scott Peden or Pardo
Family Holdings in connection with several lawsuits.  By the
application, the Debtor sought the Court's authorization for
Mackenzie to continue to represent the non-debtors as well.

Mackenzie disclosed that it has been paid $28,990 in the 90 days
preceding the Petition Date, although by LPI rather than the
Debtor, and received a retainer from LPI within the same period
totaling $20,000 related to cases where the Debtor is not a
defendant.

In this relation, the Committee objected to the application based
on the fact that the trustee has only just been appointed,
therefore, the decision of whether to hire Mackenzie to represent
the Debtor in the Underlying Litigation is the trustee's to make.

                         The Application

As reported in the Troubled Company Reporter on March 18, 2015,
the Debtor has tapped Mackenzie to advise and represent the Debtor
with respect to the Morrow Lawsuit, the Woelfel Lawsuit, the JMD
Lawsuit, the Texas Supreme Court Appeal, and the US Fifth Circuit
Appeal.  To the extent necessary, Mackenzie will assist the Debtor
with the prosecution of its plan of reorganization as it relates to
the Morrow Lawsuit, the Woelfel Lawsuit, the JMD Lawsuit, the Texas
Supreme Court Appeal, and the US Fifth Circuit Appeal.

Subject to the Court's approval, Mackenzie will charge the Debtor
for legal services on an hourly basis in accordance with its
ordinary and customary hourly rates in effect on the date the
applicable services are rendered.  Mackenzie's current hourly rate
is $225 per hour.

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

C. Alfred Mackenzie 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.

                         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.

Waco, Texas-based 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.  The Committee tapped Munsch Hardt Kopf & Harr, P.C., as
counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

H. Thomas Moran II was appointed as Chapter 11 trustee for the
case.



LIFE PARTNERS: Panel Wants Meadows Application Deferred
-------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of debtor Life Partners Holdings, Inc., objected to the
Debtor's application to employ Meadows, Collier, Reed, Cousins,
Crouch & Ungerman, L.L.P. as special tax counsel.

The Committee asks the Court to deny the application, or
alternatively defer the application until the Chapter 11 trustee
can determine how he wishes to resolve the application, subject to
further required disclosures.

                          The Application

As reported in the Troubled Company Reporter on March 18, 2015, the
Debtor asks for permission to employ Meadows, Collier, Reed,
Cousins, Crouch & Ungerman, L.L.P., as special tax counsel, nunc
pro tunc to the Petition Date.

Meadows Collier will continue to advise and represent the Debtor
with respect to the Internal Revenue Service administrative
proceeding.  To the extent necessary, Meadows Collier will assist
the Debtor with the prosecution of its plan of reorganization as it
relates to the Internal Revenue Service administrative proceeding.

Meadows Collier 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.  Meadows Collier
acknowledges that it will be compensated in accordance with the
procedures set forth in the applicable provisions of the Bankruptcy
Code, the Federal Rules of Bankruptcy Procedure, the Court's local
rules, including L.R. 2016, and such procedures as may be fixed by
further Court order.

As of the Petition Date, Meadows Collier had outstanding fees due
and owing in connection with its representation of the Debtor in
the amount of $35,579.50.  Meadows Collier has not received a
retainer or trust deposit in connection with its engagement
agreement with the Debtor.

Anthony Daddino of Meadows Collier, 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.

                         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.

Waco, Texas-based 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.  The Committee tapped Munsch Hardt Kopf & Harr, P.C., as
counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

H. Thomas Moran II was appointed as Chapter 11 trustee for the
case.



LIME ENERGY: Amends Promissory Note with Bison Capital
------------------------------------------------------
Lime Energy Co. executed an amendment to the Subordinated Secured
Convertible Promissory Note dated March 24, 2015 by and between the
Company and Bison Capital Partners IV, L.P.  

Pursuant to the terms of the Amendment, the Company may pay 10.5%
per annum interest on the outstanding principal amount
semi-annually in cash or allow interest to accrue and be added to
the principal amount at a rate of 12.5% per annum.  Also, the
Amendment states that, should the Company fail to meet certain
trailing EBITDA targets as of June 30, 2015, Sept. 30, 2015, or
Dec. 31, 2015, then for each such quarter in which such EBITDA
target is not met an additional $1 million in interest will accrue
and be added to principal.  All of the other original terms of the
Note remain in full force and effect.

A copy of the Amendment to Subordinated Secured Convertible
Promissory Note dated March 31, 2015 by and between the Company and
Bison Capital Partners IV, L.P. is available for free at:

                        http://is.gd/eNxGq0

                         About Lime Energy

Headquartered in Huntersville, North Carolina, Lime Energy Co. --
http://www.lime-energy.com-- is engaged in planning and
delivering clean energy solutions that assist its clients in their
energy efficiency and renewable energy goals.  The Company's
solutions include energy efficient lighting upgrades, energy
efficient mechanical and electrical retrofit and upgrade services,
water conservation, building weatherization, on-site generation
and renewable energy project development and implementation.  The
Company provides energy solutions across a range of facilities,
from high-rise office buildings, distribution facilities,
manufacturing plants, retail sites, multi-tenant residential
buildings, mixed use complexes, hospitals, colleges and
universities, government sites to small, single tenant facilities.

Lime Energy reported a net loss available to common stockholders
of $18.5 million in 2013, a net loss of $31.8 million
in 2012 and a net loss of $18.9 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $31.1
million in total assets, $22.8 million in total liabilities and
$8.33 million in total stockholders' equity.


LOAN EXCHANGE: Stay Lifted; Bankruptcy Case Dismissed
-----------------------------------------------------
Following a status conference, Judge Peter H. Carroll of the U.S.
Bankruptcy Court for the Central District of California entered an
order on March 11, 2015, dismissing the Chapter 11 case of Loan
Exchange Group.

The Court said it found cause for dismissal of the case under 11
U.S.C. Sec. 1112(b) based on findings of fact and conclusions of
law stated orally and recorded in open court pursuant to F.R. Civ.P
52(a), as incorporated into FRBP 7052 and made applicable to
contested matters by FRBP 9014(c).

"Since it appears that no further matters are required that this
case remain open, or that the jurisdiction of this Court continue,
it is ordered that the case is closed," Judge Carroll said in his
ruling.

The judge on Feb. 4, 2015, granted the motion of FCI Lender
Services, Inc., as loan servicing agent for Rubicon Mortgage Fund,
LLC, for an order lifting the automatic stay in the real property
of Loan Exchange Group.  The lifting of the stay involves the
Debtor's property at 516 Dolan Road, in Moss Landing, California.

According to the judge, the Motion is granted under 11 U.S.C. Sec.
362(d)(1) and 11 U.S.C. Sec. 362(d)(2).  The Motion is also granted
under 11 U.S.C. Sec. 362(d)(4), as the filing of the bankruptcy
petition was part of a scheme to hinder, delay, or defraud
creditors that involved multiple bankruptcy cases affecting the
Property; and the Court makes a finding that the Debtor was
involved in this scheme.

As a result of the lifting of the stay, FCI may enforce its
remedies to foreclose upon and obtain possession of the Property in
accordance with applicable non-bankruptcy law, but may not pursue
any deficiency claim against the Debtor or property of the estate
except by filing a proof of claim pursuant to 11 U.S.C. Sec. 501.

                     About Loan Exchange Group

Loan Exchange Group filed a Chapter 11 bankruptcy petition (Bankr.
C.D. Cal. Case No. 11-21085) on Sept. 16, 2011, in San Fernando
Valley, California.

Loan Exchange Group again sought Chapter 11 protection (Bankr. C.D.
Cal. Case No. 14-12629) on Nov. 26, 2014, in Santa Barbara,
California. The Debtor, a Single Asset Real Estate, disclosed $12.6
million in assets and $5.97 million in total liabilities in its
schedules.  The Debtor tapped Marc A Duxbury, Esq., in Carlsbad, as
counsel.



LSI RETAIL II: Joins Affiliates in Chapter 11
---------------------------------------------
LSI Retail II, LLC, sought Chapter 11 protection (Bankr. D. Col.
Case No. 15-13375) in Denver on April 2, 2015.

The Littleton, Colorado-based company estimated $10 million to $50
million in assets and debt.

The case is assigned to Judge Sidney B. Brooks.  The Debtor tapped
Weinman & Associates, P.C., as counsel.

The Debtor's Chapter 11 plan and disclosure statement are due July
31, 2015.

The Debtor disclosed that no receiver is in possession of its
property.

Alan R. Fishman, president of Sunset Management Services, Inc., as
the manager of LSI Retail II, signed the bankruptcy petition.

Land Securities Investors, Ltd., owns 99% of the equity of LSI
Retail II.

Land Securities and 2 affiliates already have pending bankruptcy
cases.  Bankruptcy cases were commenced by Land Securities (Case
No. 13-11167) and Conifer Town Center, LLC (Case No. 13-11135) on
Jan. 29, 2013.  LSI Retail I, LLC sought bankruptcy (Case No.
14-14439) on April 7, 2014.  The three cases are pending before
Judge Michael E. Romero.


LSI RETAIL II: Proposes Weinman & Associates as Counsel
-------------------------------------------------------
LSI Retail II, LLC, filed with the U.S. Bankruptcy Court for the
District of Colorado an application to employ Weinman & Associates,
P.C., as counsel.

The Debtor needs Weinman & Associates to represent it in matters of
administration, and bankruptcy counsel generally, including
preparation of the statements and schedules, the plan of
reorganization and disclosure statement, and related matters.

The Firm will bill at its customary hourly rates; Jeffrey A.
Weinman, Esq., $475 per hour; William A. Richey, Paralegal, $250
per hour; and Lisa Barenberg, Paralegal, $200 per hour.

To the best of the firm's knowledge, it has no connection with
Debtor, the creditors, the U.S. Trustee or any employee of the U.S.
Trustee, or any other party in interest.

The firm received a $25,000 retainer from Land Securities
Investors, LTD, the Debtor's 99% member, a portion of the retainer
was expended on prepetition services and costs, including the
filing fee, and a portion of which was paid to Allen & Vellone,
P.C., special litigation counsel, in the amount of $7,000.  The
balance of the retainer is being kept in a Coltaf account.  The
Firm claims an attorney's lien in the retained funds.

Objections to the Application are due April 16, 2015.

                        About LSI Retail II

LSI Retail II, LLC, sought Chapter 11 protection (Bankr. D. Col.
Case No. 15-13375) in Denver on April 2, 2015.

The Littleton, Colorado-based company estimated $10 million to $50
million in assets and debt.

The case is assigned to Judge Sidney B. Brooks.  The Debtor tapped
Weinman & Associates, P.C., as counsel.

Land Securities and 2 affiliates already have pending bankruptcy
cases.  Bankruptcy cases were commenced by Land Securities (Case
No. 13-11167) and Conifer Town Center, LLC (Case No. 13-11135) on
Jan. 29, 2013.  LSI Retail I, LLC sought bankruptcy (Case No.
14-14439) on April 7, 2014.  The three cases are pending before
Judge Michael E. Romero.


LTI HOLDINGS: S&P Assigns 'B' Corp. Credit Rating, Outlook Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Modesto, Calif.-based LTI Holdings Inc. (which
operates as Boyd Corp.)  The rating outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating, and a
'3' recovery rating to the company's proposed first-lien credit
facilities, including a $50 million revolver and a $365 million
first-lien term loan.  The '3' recovery rating indicates S&P's
expectation of meaningful (50% to 70%, in the higher half of the
range) recovery in a default scenario.

In addition, S&P assigned its 'B-' issue-level rating, and '5'
recovery rating to the company's proposed $142 million second-lien
credit facility indicating S&P's expectation for modest (10% to
30%, in the higher half of the range) recovery in a payment default
scenario.

S&P expects the company to use proceeds from the proposed
facilities along with equity contributions from the new sponsor to
redeem all outstanding debt issued by subsidiary LTI Flexible
Products Inc. and fund the acquisition.  S&P expects to affirm and
subsequently withdraw all ratings on LTI Flexible Products Inc.
upon closing of the transaction and repayment of existing debt.

Boyd is a niche provider of specialty material-based sealing
solutions.  "Our assessment of the company's business risk profile
as 'weak' reflects the company's modest scale, sizable customer
concentration and relatively low market share in the highly
fragmented custom fabricated components industry," said Standard &
Poor's credit analyst Svetlana Olsha. In addition, Boyd is
moderately exposed to cyclical end markets, such as RV and
commercial vehicles, and faces rapid technological innovation and
short product cycles inherent in the mobile computing and consumer
electronics end markets.  These factors are partly offset by Boyd's
specialty material expertise and frequent specification into the
original equipment manufacturers' design, which have resulted in
long-standing and sticky customer relationships.  S&P also expects
the company will be able to pass through raw material costs with a
relatively short time lag.

The stable outlook reflects S&P's expectation that modest revenue
growth and gradually expanding EBITDA margins will lead to
improvement in credit measures, specifically debt to EBITDA
declining to the 5x to 6x range over the next 12 months.

S&P could lower the rating if demand for some of Boyd's key
products (for instance, in the electronics and technology devices
end market) falls and S&P forecasts revenue declines and margin
contraction, resulting in leverage above 6x for a sustained period.
S&P could also lower the ratings if the company is unable to
generate positive free cash flow and liquidity becomes
constrained.

Although unlikely, S&P could raise the rating if Boyd improves its
credit metrics so that leverage declines below 5x and S&P expects
the company to sustain the improvement.  For an upgrade, S&P would
also need to believe the company would adhere to a less-aggressive
financial policy.



LTS GROUP: S&P Affirms 'B' Corp. Credit Rating
----------------------------------------------
Standard & Poor's Ratings Services said that on March 31, 2015, it
affirmed its 'B' corporate credit rating and all other ratings on
Boxborough, Mass.-based LTS Group Holdings LLC.  The outlook is
stable.

"The rating affirmation reflects our expectation that adjusted
leverage, which was over 7x following the combination of Lightower
and Sidera in mid-2013, will continue to decline to the mid- to
high-5x area in 2015 on mid-single-digit percent revenue growth,"
said Standard & Poor's credit analyst Michael Altberg.

Profitability measures continue to improve with the realization of
$25 million in cost synergies, and S&P expects that adjusted EBITDA
margins will increase to the mid-60% area in 2015 (low-50% area on
a reported basis).  In addition, while churn was elevated in the
third quarter of 2014, it improved to 1.1% in the first and second
quarters of the year from the mid-1% area following the Sidera
acquisition.  Under S&P's base-case scenario, it expects churn to
remain in the low-1% area in 2015.  As a result of these factors,
S&P is revising its business risk assessment to "fair" from "weak."


S&P's rating outlook on Lightower is stable, based on S&P's
expectation of continued leverage improvement in 2015.  S&P expects
the company to generate mid-single-digit organic revenue growth in
2015, with adjusted leverage declining to the high-5x area by year
end.

S&P could lower the rating if the organic sales growth in its
base-case scenario does not materialize because of heightened
competition and pricing pressures, causing EBITDA to decline
precipitously such that leverage is sustained above 7x.  Under such
a scenario, S&P would expect sustained negative FOCF.  Another
potential path to a downgrade would be a debt-financed acquisition
or recapitalization that also brought leverage higher, with limited
near-term prospects for a return below 7x.

Although S&P views an upgrade as unlikely in the next year because
of the company's high leverage, it could contemplate a one-notch
upgrade if leverage were to decline below 5x on a sustained basis,
including any expectations for debt-financed acquisitions or
distributions to owners.



MARTY LOGAN'S: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Marty Logan's House of Colour, Inc.
        2310 Jim Street
        Dallas, TX 75212

Case No.: 15-31429

Chapter 11 Petition Date: April 3, 2015

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Hon. Stacey G. Jernigan

Debtor's Counsel: Jonathan L. Howell, Esq.
                  MCCATHERN, PLLC
                  3710 Rawlins Street, Suite 1600
                  Dallas, TX 75219
                  Tel: (214) 273-6409
                  Fax: (214) 741-4717
                  Email: jhowell@mccathernlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Thomas M. Logan, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb15-31429.pdf


MATAGORDA ISLAND: Judge Approves $500,000 Loan From AIC
-------------------------------------------------------
A federal judge approved a $500,000 financing to get Matagorda
Island Gas Operations LLC through bankruptcy.

U.S. Bankruptcy Judge Robert Summerhays signed off on an order
allowing Matagorda, a private oil and gas development company, to
get a loan from AIC Investments Limited.

As security for the loan, Summerhays granted AIC a "first priority
and priming security interest and lien" on some of Matagorda's
assets, including its three oil and gas tracts on the outer
continental shelf in the Gulf of Mexico.

Matagorda had said it will use the loan to pay administrative
expenses and purchase insurance.

The company's move to get a loan from AIC drew flak from Stallion
Offshore Quarters Inc. and Wood Group PSN Inc.  The suppliers had
said the company did not exert enough effort to seek other sources
of financing and that it failed to prove how the transaction would
"enhance the value" of its assets.

Shamrock Energy Solutions LLC, a creditor, also opposed the
financing, saying it was an attempt by Matagorda to prevent its
Chapter 11 case from being converted to a Chapter 7 liquidation.

In December last year, the U.S. trustee, the Justice Department's
bankruptcy watchdog, filed a motion to convert the case to a
Chapter 7 proceeding.  The motion will be considered at a court
hearing on April 28.

                      About Matagorda Island

Matagorda Island Gas Operations, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. W.D. La. Case No. 14-51099) in Lafayette,
Louisiana, on Sept. 3, 2014. The case is assigned to Judge Robert
Summerhays.  The Debtor has tapped Lugenbuhl, Wheaton, Peck, Rankin
& Hubbard as ounsel.  The Debtor disclosed $891 million in assets
and $26.1 million in liabilities as of the Chapter 11 filing.


MEG ENERGY: Bank Debt Trades at 5% Off
--------------------------------------
Participations in a syndicated loan under which MEG Energy Corp is
a borrower traded in the secondary market at 95.71 cents-on-the-
dollar during the week ended Friday, April 3, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.32
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 265 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



MICHAEL BAHARY: Napleton Directed to Drop Debtor, Bank From Suit
----------------------------------------------------------------
Bankruptcy Judge Jacqueline P. Cox directed Napleton Enterprises,
LLC -- directly and as a Beneficial Owner under Standard Bank and
Trust Company, as Trustee Under Trust Agreement dated January 7,
2003 and Known as Trust Number 17569 -- pursuant to Sec. 105 of the
Bankruptcy Code, to dismiss the debtor Michael Bahary and Steven
Bahary Partnership and the Popular Community Bank Foundation, Inc.
a/k/a Banco Popular North America with prejudice, as defendants
from the DuPage County, Illinois lawsuit Number 2014-Ch-001212 on
or before April 25, 2015.

The Court orders the dismissal to achieve Bahary's reorganization
goals, as the reorganized Debtor should not be burdened with
defending a matter where the complainant is pursuing a baseless
claim.

A copy of the Court's Amended Memorandum Opinion dated April 1,
2015, is available at http://is.gd/98l0Tbfrom Leagle.com.

Michael Bahary & Steven Bahary Partnership, dba Bahary Partnership,
based in Chicago, filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 11-41826) on October 14, 2011.  Judge John H. Squires
oversaw the case.  Robert R. Benjamin, Esq., at Golan & Christie,
LLP, serves as the Debtor's counsel.  The Debtor scheduled assets
of $6,808,060 and liabilities of $11,541,563.  The Company's list
of its 20 largest unsecured creditors filed with the petition is
available for free at http://bankrupt.com/misc/ilnb11-41826.pdf
The petition was signed by Steven Bahary, partner.

The Debtor won confirmation of its Plan of reorganization on August
21, 2012.  The confirmed Plan provided, in part, that the
Reorganized Debtor would surrender the real estate property
commonly known as 334 Grand Avenue, Elmhurst, Illinois, to Banco
Popular North America by executing a Deed in Lieu of Foreclosure to
satisfy Banco's secured claim.  With the Plan confirmed, Bahary
transferred the property to Banco, and at some point Banco sold the
property to 334 Grand Joint Venture, LLP.


MICHAEL SCHUGG: Court Permits Murphy Road Improvements
------------------------------------------------------
Against the objections of the Gila River Indian Community, Arizona
Senior District Judge James A. Teilborg ruled that the scope of the
easement between the Community and debtors Michael Keith Schugg and
Debra Schugg along Murphy Road permits G. Grant Lyon -- the Chapter
11 Trustee of the Schuggs bankruptcy estate -- to (1) improve
Murphy Road into a two-lane 40-foot wide paved roadway; (2) install
underground utilities beneath Murphy Road from the southern
boundary of the Reservation to the southeast corner of Section 16;
and (3) use Murphy Road to carry the traffic associated with a
440-house development on Section 16.

A copy of the Court's Findings of Fact and Conclusions of Law is
available at http://is.gd/yFOj2Sfrom Leagle.com.

Michael Schugg and Debra Schugg declared bankruptcy in 2004.  G.
Grant Lyon was appointed the Chapter 11 Trustee of the Schuggs'
bankruptcy estate.


MICHAELS COMPANIES: S&P Raises CCR to 'B+'; Outlook Stable
----------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Irving, Texas-based The Michaels Companies Inc. to 'B+'
from 'B'.  The outlook is stable.

At the same time, S&P raised its issue-level ratings on Michaels'
$1.64 billion bank loan and its $850 million term loan B (both due
2020) to 'BB-' from 'B+'.  The '2' recovery rating, indicating
S&P's expectation for substantial recovery (on the high end of the
70% to 90% range) in the event of default, remains unchanged.

S&P also raised its issue-level ratings on the company's $800
million pay-in-kind (PIK) toggle notes due 2018 ($181 million
carrying value as of Jan. 31, 2015) and $510 million senior
subordinated notes due 2020 to 'B-' from 'CCC+'.  The '6' recovery
rating, indicating S&P's expectation that noteholders would receive
negligible recovery (0% to 10%) in the event of a payment default,
remains unchanged.

"The upgrade reflects our expectation for Michaels to further
improve its financial risk profile over the next few years, as we
expect financial sponsor ownership to continue to decline and
financial policies to moderate," said credit analyst Kristina
Koltunicki.  "We believe management is committed to reducing debt,
evidenced by the partial prepayment of its PIK notes in December
2014 and expected accelerated final payment of those notes in the
second quarter of 2015.  We also believe the company will be able
to manage the operating environment well, despite some potential
merchandising issues from the West Coast port slowdown that may
negatively affect inventory flow in the first and second
quarters."

The stable outlook reflects S&P's expectation that credit
protection measures will continue to improve somewhat over the next
two years stemming from a combination of EBITDA growth and debt
repayment.  However, S&P thinks metrics will remain toward the
weaker end of a 4x to 5x range.

Although S&P considers the likelihood to be low, it could consider
a downgrade if operating performance deteriorates from
merchandising missteps or poor holiday season results.  At that
time, leverage could increase back to the mid-5x area.  Under this
scenario, a 10% decrease in trailing-12-month EBITDA levels,
holding debt levels constant, could cause credit protection
measures to heighten to this level.

S&P could raise its ratings if ratios reach levels near the
stronger end of an "aggressive" financial risk profile, including
leverage in the low- to mid-4x area and FFO to debt above 15% on a
sustained basis.



MIDSTATES PETROLEUM: Gets Non-Compliance Notice From NYSE
---------------------------------------------------------
Midstates Petroleum Company, Inc., received notification on
April 1, 2015, from the New York Stock Exchange that the price of
the Company's common stock has fallen below the NYSE's continued
listing standard.  The NYSE requires that the average closing price
of a listed company's common stock not be less than $1.00 per share
for a period of over 30 consecutive trading days.

Under NYSE rules, the Company can avoid delisting if, during the
six month period following receipt of the NYSE notice and on the
last trading day of any calendar month, the Company's common stock
price per share and 30 trading-day average share price is at least
$1.00.  During this six month period, the Company's common stock
will continue to be traded on the NYSE, subject to compliance with
other continued listing requirements.  The Company will seek to
cure the deficiency and to return to compliance with the NYSE
continued listing requirement.

The NYSE notification does not affect the Company's business
operations or its SEC reporting requirements and does not conflict
with or cause an event of default under any of the Company's
material debt or other agreements.

                 About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S.  Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total assets,
$2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


MIDSTATES PETROLEUM: Signs Employment Agreement with Interim CEO
----------------------------------------------------------------
Frederic (Jake) F. Brace and Midstates Petroleum Company, Inc.
entered into an employment agreement outlining the terms of his
employment as interim president and chief executive officer of the
Company, on April 1, 2015, according to a Form 8-K filed with the
Securities and Exchange Commission.

Pursuant to the Employment Agreement, Mr. Brace's monthly salary
will be $100,000 while serving as interim president and chief
executive officer and Mr. Brace will be entitled to participate in
any Incentive Plans applicable to similarly situated employees of
the Company.  Additionally, Mr. Brace will be entitled to an annual
bonus in the sole discretion of the Board of Directors of the
Company, which will be determined based upon multiple factors,
including, but not limited to, the Company's performance and Mr.
Brace's personal performance.  The target annual bonus is 100
percent of Mr. Brace's 12 month Base Salary, the maximum annual
bonus is 200 percent of Mr. Brace's 12 month Base Salary, and the
minimum annual bonus is 50 percent of Mr. Brace's 12 month Base
Salary.

The Employment Agreement is effective as of March 9, 2015, and
contains an initial term ending on Sept. 9, 2016.  If 60 days
notice of intent to terminate the Employment Agreement is not given
prior to the expiration of the Initial Term, the Employment
Agreement will continue past the Initial Term for successive six
month terms until either party gives 60 days notice that the party
intends for the Employment Agreement to terminate at the end of any
such six month period.

                 About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S. Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total assets,
$2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


MONTGOMERY WARD: Ill. Court Affirms Ruling on DiMucci Claim
-----------------------------------------------------------
The Appellate Court of Illinois, First District, Third Division,
affirmed judgment entered in favor of National Union Fire Insurance
Company of Pittsburgh, PA -- as Subrogee of General American Life
Insurance Company, a Missouri Corporation -- and against DiMucci
Development Corporation of Rockford related to a proof of claim
DiMucci filed in the bankruptcy case of Montgomery Ward and which
payment was mistakenly sent to DiMucci, instead of to GALIC.

Montgomery Ward defaulted on its lease with DiMucci and filed
chapter 11 bankruptcy in 1997 in the United States Bankruptcy Court
in the District of Delaware. DiMucci filed a proof of claim in the
bankruptcy case in February 1998, seeking $16,391,766 for unpaid
past and future rents on the defaulted lease. The net amount of
DiMucci LLC's allowed claim in the bankruptcy case was
$638,537.50.

DiMucci in turn defaulted on its loan from GALIC and, in November
1998, GALIC filed a complaint for foreclosure against DiMucci. The
property went to foreclosure sale and was purchased by GALIC. GALIC
obtained a judgment of foreclosure on July 29, 1999. The judgment
included an evidentiary finding that, as of July 29, 1999, DiMucci
owed GALIC $15,805,226.

GALIC filed a motion in the Montgomery Ward bankruptcy case seeking
an assignment of DiMucci's claim against Montgomery Ward to GALIC.
Counsel to GALIC, Montgomery Ward, and DiMucci later signed a
stipulation providing that DiMucci transferred "all of its right,
title and interest" in its allowed claim against Montgomery Ward to
GALIC.

On February 6, 2001, Logan and Company, the bankruptcy court's
noticing agent, caused Wells Fargo Bank to issue a check for
DiMucci's allowed claim against Montgomery Ward in the amount of
$638,537 to DiMucci.  The check was received by DiMucci in February
2001.

Counsel for GALIC requested the funds.  DiMucci denied authorizing
the stipulation and denied that there had been any assignment of
rents.  DiMucci refused to return the money.

In August 2001, GALIC filed an adversary complaint in the
bankruptcy court in the District of Delaware alleging that the
$638,535 payment of the allowed claim should have been made to
GALIC as a result of the stipulation. GALIC named Montgomery Ward
Holding Corporation, Logan, Wells Fargo Bank and "DiMucci
Development Corporation of Rockford, LLC" as defendants. On October
18, 2001, the bankruptcy court entered a default judgment in the
amount of $638,535 in favor of GALIC and against DiMucci for
failure to participate in the preparation of a pretrial order.

National Union is Logan's insurer and had issued an errors and
omissions insurance policy to Logan.  National Union paid $540,000
to settle the adversary complaint on behalf of Logan, and GALIC
released Logan.

In May 2005, National Union filed the action against DiMucci
personally, as subrogee of GALIC or, alternatively, as subrogee of
Logan.  National Union brought claims for unjust enrichment, fraud,
conversion, and for the imposition of a constructive trust.
Defendant filed a combined motion to dismiss, arguing that National
Union's claims are barred by res judicata by the final judgment
entered in the Montgomery Ward bankruptcy case because there was an
identity of the two causes of action and the parties or their
privies.

On September 27, 2011, the court granted National Union's motion
for summary judgment on the counts for unjust enrichment and
imposition of a constructive trust (Counts III, IV, VII and VIII).
The court found that the stipulation was valid and in effect when
the payment was made to DiMucci and that the payment was mistake
and that "DiMucci is benefitting as a result of that mistake,"
which the court found was unjust.

The court heard the prove-up of damages for National Union and its
motion for prejudgment interest pursuant to the Interest Act (815
ILCS 205/2 (West 2012)) or, in the alternative, pursuant to equity
principles.   On March 22, 2012, the court entered judgment in
favor of National Union in the total amount of $734,089.

On April 20, 2012, DiMucci filed a motion to reconsider the orders
granting summary judgment and prejudgment interest in favor of
National Union. The motion to reconsider was denied on August 14,
2012.  DiMucci appealed.

"We affirm the order of September 27, 2011 entering judgment in
favor of National Union and the March 22, 2012 order granting
damages and granting prejudgment interest for the total amount of
$734,089.48. We also affirm the order of August 14, 2012 denying
defendant's motion to reconsider," the Appellate Court said.

"Defendant is not allowed to benefit from defaulting on his loan
from GALIC and simultaneously keeping payment on DiMucci's
bankruptcy claim representing the unpaid rents on the property. The
circuit court did not err in granting summary judgment to National
Union on its claim for unjust enrichment," the Appellate Court
added.

The case is, NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH,
PA, as Subrogee of General American Life Insurance Company, a
Missouri Corporation; and LOGAN AND COMPANY, INC.,
Plaintiffs-Appellees, v. ANTHONY P. DiMUCCI, Defendant-Appellant,
No. 1-12-2725 (Ill. Ct. App.).  A copy of the Court's March 31,
2015 Opinion is available at http://is.gd/K8moY5from Leagle.com.


NATEL ENGINEERING: Moody's Lowers 2020 Term Loan Rating to B2
-------------------------------------------------------------
Moody's Investors Service downgraded the ratings on Natel
Engineering Company, Inc.'s senior secured term loan to B2 LGD3
from B1 LGD3, due to the upsize of the term loan to $300 million
from $280 million. In addition, the company reduced the size of the
seller note from Charlesbank Capital to $40 million from $60
million. All other ratings remain unaffected.

In accordance with Moody's loss given default framework, the change
in the capital structure increases the proportion of the senior
secured debt in the capital structure and removes a portion of the
junior capital support provided by the seller note. Therefore, the
senior secured term loan is now rated in line with the B2 corporate
family rating, as it represents the bulk of the debt in the
company's capitalization.

The stable rating outlook reflects Moody's expectation that Natel
will make steady progress in integrating OnCore's operations and
will achieve the targeted cost synergies.

What Could Change the Rating - Up:

Given the increased debt taken on with the acquisition and time
required to successfully integrate OnCore, a rating upgrade is
unlikely over the next 12 months. Ratings could be upgraded as a
result of significant revenue and EBITDA expansion which leads to
adjusted leverage approaching 4.0 times and resumption of good free
cash flow generation.

What Could Change the Rating - Down:

Ratings could be downgraded if Natel's integration of OnCore
results in deteriorating financial performance, revenue growth does
not materialize, or if the company experiences market share loss or
operational missteps. Ratings may also be downgraded if margins
erode as a result of pricing pressures or higher operating costs.
Inability to reduce financial leverage below 5.0 times or
persistent negative free cash flow would also pressure ratings.

Rating Actions:

Issuer: Natel Engineering Company, Inc.

  -- Senior Secured Term Loan B due 2020, Downgraded to B2 (LGD3)
     from B1 (LGD3)

Headquartered in Chatsworth, CA, Natel is an electronics
manufacturing services provider of high-reliability, high-quality
manufacturing solutions to customers in the industrial, medical,
aerospace & defense and building industries. Proforma revenue for
the OnCore acquisition for the twelve months ended January 31, 2015
was about $770 million.

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


NATIONAL GENERAL HOLDINGS: A.M. Best Assigns 'bb' Debt Rating
-------------------------------------------------------------
A.M. Best Co. has assigned a debt rating of "bb" to the $150
million 7.5% non-cumulative perpetual preferred stock issued by
National General Holdings Corp. (NGHC) (headquartered in New York,
NY) [NASDAQ: NGHC].  The outlook assigned to the rating is stable.
All remaining ratings of NGHC and its subsidiaries are unchanged.

The proceeds from the issuance will be used for general corporate
purposes, which may include future acquisitions and to support
current and future writings.  With the issuance of the preferred
shares, NGHC's adjusted debt-to-total capital and adjusted
debt-to-tangible capital are approximately 21% and 27%,
respectively, and are within A.M. Best's guidelines for its current
rating level.  In addition, NGHC's interest coverage ratio is
expected to remain solid for its rating.


NCSG CRANE: Moody's Lowers CFR to Caa1, Outlook Stable
------------------------------------------------------
Moody's Investors Service downgraded NCSG Crane & Heavy Haul
Corporation's Corporate Family Rating to Caa1 from B2, its
Probability of Default Rating to Caa1-PD from B2-PD, and its US$305
million senior secured second lien notes to Caa2 from B3. The
Speculative Grade Liquidity Rating was lowered to SGL-3 from SGL-2.
The rating outlook remains stable.

"The downgrade reflects our expectation of weak coverage and
leverage metrics in 2015, stemming from reduced project work due to
the sharp drop in oil prices," said Paresh Chari, Moody's Analyst.

Issuer: NCSG Crane & Heavy Haul Corporation

  -- Probability of Default Rating, Downgraded to Caa1-PD from
     B2-PD

  -- Speculative Grade Liquidity Rating, Lowered to SGL-3 from
     SGL-2

  -- Corporate Family Rating, Downgraded to Caa1 from B2

  -- Senior Secured Regular Bond/Debenture, Downgraded to
     Caa2(LGD5) from B3(LGD5)

The Caa1 Corporate Family Rating reflects NCSG's very high leverage
(adj. debt to EBITDA 9x) and weak EBITDA/interest coverage (1.1x)
expected by the end of 2015, caused by the sharp reduction in
project-related work that historically constituted about 50% of
revenue. The competitive market will also lead to pricing and
margin pressure for remaining work. The rating favorably recognizes
NCSG's long-standing customer relationships with investment grade
customers, strong safety record, and predictable maintenance work
that is tied to long-lived oil sands mining and in-situ bitumen
projects.

NCSG's SGL-3 speculative grade liquidity rating reflects adequate
liquidity. We expect negative free cash flow of about C$5 million
from March 31, 2015 to March 31, 2016 and about C$90 million of
sub-limited availability under its C$225 million ABL revolving
credit facility maturing in 2019. The revolver contains a springing
covenant (fixed charge coverage of ratio 1x) based upon minimum
levels of excess availability. NCSG may breach this covenant
potentially limiting the commitment size to C$203 million.
Alternate sources of liquidity are limited as its assets are
pledged as collateral to the secured credit facilities and second
lien notes.

Under Moody's Loss Given Default (LGD) Methodology, the second lien
US$305 million senior secured notes are rated Caa2, one notch below
the Caa1 CFR due to its subordination to the priority ranking C$225
million ABL revolver.

The stable outlook reflects our expectation that NCSG will maintain
adequate liquidity for the next 12 months.

The rating could be raised if NCSG exhibits positive EBITDA growth,
improves debt to EBITDA below 6x and interest coverage above 1.5x.

The rating could be lowered if liquidity becomes weak.

NCSG Crane & Heavy Haul Corporation (NCSG), is a privately-owned
crane & heavy haul service provider based in Edmonton, Alberta.

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.


NET ELEMENT: Anashkhan Gabbazova Holds 11.7% Stake as of April 1
----------------------------------------------------------------
Anashkhan Gabbazova, the sole shareholder and sole director of
Cayman Invest S.A., disclosed in a regulatory filing with the
Securities and Exchange Commission that she may be deemed to
beneficially own 5,569,158 shares of common stock beneficially
owned by Cayman and has shared voting power and shared dispositive
power with respect to those shares.  The amount represents 11.7% of
47,460,032, which is the number of the outstanding shares of Common
Stock as of March 30, 2015.  A copy of the regulatory filing is
available for free at http://is.gd/u6ILCd

                         About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $48.3 million in 2013, as
compared with a net loss of $16.4 million in 2012.  

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NET ELEMENT: Cayman Invest Reports 11.7% Stake as of April 1
------------------------------------------------------------
Cayman Invest S.A. disclosed in an amended Schedule 13D filed with
the Securities and Exchange Commission that as of April 1, 2015, it
beneficially owns 5,569,158 shares of common stock of
Net Element, Inc., which represents 11.7 percent of 47,460,032,
which is the number of the outstanding shares of Common Stock as of
March 30, 2015.

On March 25, 2015, Anvar Mametov sold all of his shares of capital
stock in, and resigned as Director of, Cayman Invest S.A., and
therefore, he is no longer deemed to be the beneficial owner of
shares of Common Stock of Net Element, Inc. held by Cayman Invest
S.A.

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

                        http://is.gd/sMYiFA

                         About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $48.3 million in 2013, as
compared with a net loss of $16.4 million in 2012.  

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NEW LOUISIANA: Affiliates Get Green Light to Auction Assets
-----------------------------------------------------------
Three affiliates of New Louisiana Holdings LLC received court
approval to sell almost all of their assets at auction.

U.S. Bankruptcy Judge Robert Summerhays approved a bidding process
that will allow SA-Lakeland LLC and two other operators of skilled
nursing facilities in Florida to solicit offers from potential
buyers.

The bidding procedures set a May 18 deadline for potential buyers
to make an offer.  Those who want, however, to become a stalking
horse bidder are required to submit their bids by April 17.

The bid must be accompanied by a cash deposit of not less than 5%
of the purchase price.  

The companies will hold an auction on May 21 if they receive at
least one offer other than the stalking horse bid.  The sale of the
assets to the winning bidder will be considered at a hearing on
June 9.

The May 21 auction won't push through if the companies do not
receive a qualified bid.  If only one buyer qualifies to bid and
there is no stalking horse bidder, the companies won't hold an
auction but will seek approval of the qualified bid at the June 9
hearing.

In connection with the sale, bidders will have the opportunity to
purchase interests in the real property where the companies conduct
their business from landlords, which include NAE Florida LLC,
Lovely Hills Florida LLC, and Sagamore Florida LLC.

                   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.


NEW STREAM CAPITAL: Investor Losses Pegged at $46.6 Million
-----------------------------------------------------------
New Stream Capital LLC managing partners and co-owners David A.
Bryson and Bart C. Gutekunst as well as former Chief Financial
Officer Richard Pereira in May last year pled guilty to Count One
of the Second Superseding Indictment, conspiracy to commit wire
fraud in violation of section 371 of title 18 of the United States
Code.  The U.S. government sued New Stream's top brass for
conspiring to deceive investors by misrepresenting the finance
structure of the now-defunct firm.

Still at issue in relation to sentencing are:

     1) whether the court should include additional investors in
        its loss calculation,

     2) whether investors who invested prior to the conspiracy
        that began in March 2008 should be included in the loss
        calculation,

     3) determining a reasonable estimate of the loss
        attributable to the offense conduct, and

     4) whether a two-level enhancement for the use of
        sophisticated means is appropriate.

In an April 1, 2015 Ruling available at http://is.gd/FHhvFDfrom
Leagle.com, District Judge Janet C. Hall of the District of
Connecticut determined that it is appropriate to include seven
additional investors as victims for the purposes of its loss
calculation, based on its finding that these investors invested on
the basis of misrepresentations made by the defendants or at their
direction.  These investors are:

     * AA Partners, which invested $10.2 million in the Cayman
       Fund after the conspiracy began;

     * Atlas Capital Group, which invested $6.15 million between
       April 1, 2008 and September 1, 2008;

     * Auda Advisor Associates LLC, which invested $3 million in
       the Cayman Fund in August 2008;

     * Harcourt Investment Consulting, which invested $750,000 in
       the Cayman Fund on June 1, 2008;

     * Walter Schwab, which invested $500,000 in the U.S. Fund on
        April 1, 2008;

     * Stillwater Capital Partners Inc., which invested $730,000
       in the Cayman Fund on May 1, 2008, and invested $500,000
       in the U.S. Fund on July 1, 2008; and

     * Stone Corporation/ESD Holdings, which invested $4 million
       in the Cayman Fund from August 2008-September 2008.

Judge Hall further ruled that a reasonable estimate of the loss to
the post-March 2008 investors who were fraudulently induced to
invest is the total value of their investments, namely,
$40,980,000.  The court also held that a reasonable estimate of the
loss to pre-March 2008 investors is 12% of their total investment.
Based on the total amount of new investments between December 1,
2007 and March 1, 2008, this results in a loss amount of
$5,644,800.  Thus, the estimated total loss amount for both groups
of investors is $46,624,800.

                         About New Stream

New Stream is an inter-related group of companies that
collectively comprise an investment fund, headquartered in
Ridgefield, Connecticut.  Founded in 2002, New Stream focuses on
providing non-traded private debt to the insurance, real estate
and commercial finance sectors.

In late 2010, New Stream announced that it had entered into
an agreement with its Bermuda investors to liquidate its master
fund, and that upon the consent of its US and Cayman investors, it
would voluntarily file Chapter 11 bankruptcy petitions.

On March 7, 2011, when New Stream was still soliciting votes on
the Chapter 11 plan, certain investors filed a petition (Bankr. D.
Del. Lead Case No. 11-10690) seeking to force three New Stream
funds -- New Stream Secured Capital Fund (U.S.) LLC, New Stream
Secured Capital Fund P1 (Cayman), Ltd. and New Stream Secured
Capital Fund K1 (Cayman), Ltd. -- to Chapter 11 bankruptcy.

The petitioning investors in the New Stream investment enterprise
say they are collectively owed over $90 million, representing
roughly 28% of the approximately $320 million owed to all U.S. and
Cayman investors.  The Petitioners are represented by (i) Joseph
H. Huston, Jr., Esq., Maria Aprile Sawczuk, Esq., Meghan A.
Cashman, Esq., at Stevens & Lee, P.C., in Wilmington, Delaware,
and Beth Stern Fleming, Esq., at Stevens & Lee, P.C., in
Philadelphia, Pennsylvania, and Nicholas F. Kajon, Esq., David M.
Green, Esq., and Constantine Pourakis, Esq., at Stevens & Lee,
P.C., in New York, (ii) Edward Toptani, Esq., at Toptani Law
Offices, in New York, and (iii) John M Bradham, Esq., and David
Hartheimer, Esq., at Mazzeo Song & Bradham LLP, in New York.

New Stream Secured Capital, Inc., and three affiliates (New Stream
Insurance, LLC, New Stream Capital, LLC, and New Stream Secured
Capital, L.P.) filed Chapter 11 petitions (Bankr. D. Del. Lead
Case No. 11-10753) on March 13, 2011, with a proposed prepackaged
Chapter 11 plan.

Kurt F. Gwynne, Esq., J. Cory Falgowski, Esq., Michael J.
Venditto, Esq., and Scott M Esterbrook, Esq., at Reed Smith LLP,
serve as the Debtors' bankruptcy counsel. Kurtzman Carson
Consultants LLC is the Debtors' claims and notice agent.

NSSC, Inc., estimated its assets and debts at up to $50,000.  NSC
estimated its assets at $100,000 to $500,000 and debts at $50,000
to $100,000.  NSI estimated its assets at $100 million to
$500 million and debts at $50 million to $100 million.  NSSC, LP,
estimated its assets and debts at $500 million to $1 billion.

NSI's insurance portfolio is being sold for $184.35 million as
part of the Chapter 11 plan.  The aggregate indebtedness secured
by the investment portfolio of NSSC is $688,412,974.  NSI owes
$81,573,376 to certain account classes under a Bermuda fund.

The Official Committee of Unsecured Creditors proposes to hire
Kurtzman Carson Consultants LLC as its communications agent;
Houlihan Lokey Howard & Zukin Capital, Inc., as its financial
advisor and investment banker; and Zolfo Cooper, LLC, as its
forensic accountants and litigation support consultants.

New Stream completed a sale of its assets in June 2011, selling
its portfolio of life-insurance policies to an affiliate of
McKinsey & Co. for $127.5 million.


NEWPAGE CORP: Bank Debt Trades at 4% Off
----------------------------------------
Participations in a syndicated loan under which NewPage Corp is a
borrower traded in the secondary market at 95.68
cents-on-the-dollar during the week ended Friday, April 3, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.42 percentage points from the previous week, The Journal relates.
NewPage Corp pays 825 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Jan. 31, 2021, and carries
Moody's B2 rating and Standard & Poor's B+ rating.  The loan is one
of the biggest gainers and losers among 265 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



NEXEO SOLUTIONS: Moody's Lowers CFR to 'B3', Outlook to Stable
--------------------------------------------------------------
Moody's Investors Service downgraded Nexeo Solutions, LLC's
Corporate Family Rating to B3 from B2. The downgrade results from
continued weak credit metrics following two acquisitions, wherein
higher integration costs and slow profitability improvement kept
leverage well above levels that would support a B2 rating. In
conjunction with the downgrade of the CFR, Moody's also downgraded
the senior secured term loans to B3 as well as the senior
subordinated notes to Caa2 (Nexeo Solutions Holdings, LLC and Nexeo
Solutions Sub Holding Corp. as co-borrowers under the B-3 term loan
and ABL facility). The outlook is revised to stable from negative.

"Nexeo's elevated leverage and low profitability is partially
offset by good liquidity, which delayed a downgrade immediately
after the acquisition announcements," said Lori Harris AVP at
Moody's.

Nexeo Solutions, LLC:

  -- Corporate Family Rating -- B3 from B2

  -- Probability of Default Rating -- B3-PD from B2-PD

  -- $325 million Gtd Sr sec term loan B-1 due 2017- B3 LGD4 from
     B2 LGD4
  
  -- $175 million Sr sec term loan B-2 due 2017- B3 LGD4 from B2
     LGD4

  -- $170 million Sr sec term loan B-3 due 2017- B3 LGD4 from B2
     LGD4

  -- $175 million Gtd Sr subordinated notes due 2018 -- Caa2 LGD6
     from Caa1 LGD6

  -- Ratings outlook -- Stable from Negative

Nexeo's B3 CFR reflects its sustained high leverage (currently at
7.8x as of December 31, 2015, 7.3x pro forma for acquisition and
divestiture cost savings), inconsistent free cash flow generation,
low EBITDA margins of 3.3% (3.6% pro forma), and working capital
fluctuations. Pressuring the rating is the firm's elevated leverage
following two debt-financed acquisitions, which have stressed
credit metrics for longer than previously expected. Additionally,
low profit margins have hindered meaningful free cash flow
generation and debt repayment. The rating also considers Moody's
expectation that Nexeo will continue to spend on improving its
operating capabilities and for strategic acquisitions to support
its growth strategy.

The ratings are supported by Nexeo's economies of scale,
significant market share in North America, strong supplier base
representing leading industry producers, and long-lived customer
relationships with minimal concentration. Nexeo also benefits from
its exposure to diverse end market uses for its products,
relatively modest maintenance capital expenditure requirements, and
favorable industry trends in outsourcing to distributors that has
resulted in the distribution business growing faster than overall
chemicals demand. The decline in oil prices has reduced cash used
for working capital and thus improved liquidity, but has also
decreased the availability under the ABL revolver.

The CFR incorporates Nexeo's regionally concentrated European
business which has a much smaller competitive position measured
against the top five competitors, strategic presence in China, as
well as a product mix weighted towards commodity plastics that
causes volatility in working capital requirements when crude oil
prices fluctuate. In addition, there is meaningful seasonality in
companies working capital requirements.

Nexeo's stable outlook incorporates Moody's expectations that
leverage will remain elevated, despite increases in EBITDA in 2015.
A continuation of restructuring and integration efforts across the
businesses are also expected to reap cost savings and margin
benefits but also severely limit free cash flow generation and the
repayment of debt. The outlook also contemplates the potential for
incremental acquisitions as part of the company's growth strategy.

Nexeo's adequate liquidity position is supported by its cash
balances of $41.5 million as of December 31, 2014, positive
retained cash flows, and capacity under its ABL revolver.
Approximately $36 million of cash balances are held at foreign
subsidiaries, and would be subject to repatriation penalties. As of
December 31, 2014, Nexeo had $309.5 million of additional
availability under its $540 million ABL facility (in US and Canada
currency); approximately $158 million is drawn. Under the ABL there
is a $30 million permitted foreign facility for foreign letters of
credit. Additionally, Nexeo maintains two lines of credit in China
in support of Nexeo Plaschem (borrowing limit of $23.8 and $24.2
million) as well as a short-term working capital bank borrowing
arrangement. The company is required to maintain a fixed charge
coverage ratio in excess of 1.00:1.00 if availability is less than
the greater of $35 million or the lesser of 10% of the ABL
commitment or the borrowing base. Otherwise, the notes or the term
loans do not have financial covenants, thus the firm has
flexibility under its agreements should it encounter operational
difficulties or a reduction in profitability. Nexeo has
approximately $60 million in interest expenses annually and makes
1% amortization payments on its term loans (roughly $6.7 million).
Other uses of cash were capital expenditures of $50.4 million for
the LTM period ending December 31, 2014. Moody's expects capex to
remain in the range of $30-$35 million in 2015. The firm does not
pay a regular dividend, as certain restrictions under the revolver
apply, but does pay tax distributions to shareholders. There are no
near term maturities, but all of Nexeo's secured debt matures in
2017, thus Moody's expects the company to contemplate refinancing
by mid-2016.

Moody's would raise the ratings should Nexeo Solutions sustainably
improve its profit margins, generate positive free cash flow
consistently, and lower its leverage (Debt/EBITDA) below 6.0x.
Moody's would consider a downgrade in the event that the company
fails to generate free cash flow of at least $40 - $50 million
2015.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Nexeo Solutions, LLC (Nexeo) is one of the largest distributors of
chemicals and providers of related services in North America, where
it sources over 80% of its revenues. The company also has
operations in Europe and China. It is organized primarily along the
following products lines: chemicals (e.g., hydrocarbons, alcohols,
silicones, surfactants, ketones), plastics (e.g., polypropylene,
polyethylene, nylon) and environmental services (less than 3% of
revenues). Nexeo divested its North American composites business
(e.g., gelcoats, resins, fiberglass, catalysts) in July 2014.
Private equity firm TPG Capital purchased Ashland Inc.'s
distribution business in a leveraged buyout transaction for $972
million to form Nexeo in 2011. Nexeo had revenues of $4.5 billion
for the LTM ending December 31, 2014.


NJ HEALTHCARE: Seeks to Employ Trenk DiPasquale as Ch. 11 Counsel
-----------------------------------------------------------------
NJ Healthcare Facilities Management, LLC, aka New Jersey Health
Care Facilities Management LLC, d/b/a Advanced Care Center at
Lakeview, seeks authority from the U.S. Bankruptcy Court for the
District of New Jersey to employ Trenk, DiPasquale, Della Fera &
Sodono, P.C., as bankruptcy counsel.

The professional services to be rendered are as follows:

   (a) assisting in the preparation of schedules of assets and
liabilities and statement of financial affairs;

   (b) advising Debtor with respect to its powers and duties as
debtor-in-
possession in the management of its property;

   (c) negotiating with creditors of the debtor-in-possession and
taking the necessary legal steps to confirm and consummate a plan
of reorganization;

   (d) preparing on behalf of Debtor all necessary applications,
answers, proposed orders, reports, and papers to be filed in this
matter;

   (e) appearing before the Bankruptcy Court to represent and
protect the interests of the debtor-in-possession and its estate;
and

   (f) performing all other legal services for the
debtor-in-possession that may be necessary and proper for its
effective reorganization as well as all professional services
customarily required by the applicant.

The proposed arrangement for compensation, including range of
hourly rates, if applicable, is as follows:

      Partners                             $375 - $600
      Associates                           $225 - $350
      Law Clerks                           $190 - $210
      Paralegals and Support Staff         $145 - $195

The Debtor assures the Court that the firm is a "disinterested
person" as the term is defined under Section 101(14) of the
Bankruptcy Code and does not represent any interest adverse to the
Debtor and its estate.

                        About NJ Healthcare

NJ Healthcare Facilities Management LLC, doing business as
Advanced
Care Center at Lakeview, sought Chapter 11 protection (Bankr.
D.N.J. Case No. 15-14871) in Newark, New Jersey, on
March 19, 2015.

The Debtor estimated $10 million to $50 million in assets and
debt.
The official schedules of assets and liabilities, as well as the
statement of financial affairs, are due April 2, 215.

According to the docket, the Debtor's exclusive right to file a
plan expires on July 17, 2015.  The appointment of a healthcare
ombudsman is due by April 9, 2015.

The case is assigned to Judge Vincent F. Papalia.

The Debtor has tapped Anthony Sodono, III, Esq., at Trenk,
DiPasquale, Della Fera & Sodono, in West Orange, New Jersey, as
counsel.


NJ HEALTHCARE: Seeks to Use Cash Collateral
-------------------------------------------
NJ Healthcare Facilities Management, LLC, aka New Jersey Health
Care Facilities Management LLC, d/b/a Advanced Care Center at
Lakeview, seeks authority from the U.S. Bankruptcy Court for the
District of New Jersey to use cash collateral of BZO Foley, L.L.C.,
and JZ Ventures, LLC, in order to continue operating in the
ordinary course.

As of the Petition Date, JZ alleges that the Debtor owes it
$1,055,883.  Asof the Petition Date, the Debtor owes BZO $400,000.
Monthly interest to the secured creditors collectively totals
$29,117.  The Debtor's accounts receivables are approximately
$4,000,000 with collectible accounts receivable of approximately
$2,500,000.  The Debtor also says its personal property is valued
at $300,000.  General Electric Capital Corporation has a lien on
certain equipment.

As adequate protection, the Debtor seeks to preliminarily tender an
interest-only payment of $10,000 to the Secured Creditors until the
final hearing.  In addition, the Debtor proposes to provide
adequate protection to the Lender by granting (i) a replacement
lien; and (ii) a Section 507(b) superpriority administrative
expense.

                        About NJ Healthcare

NJ Healthcare Facilities Management LLC, doing business as
Advanced
Care Center at Lakeview, sought Chapter 11 protection (Bankr.
D.N.J. Case No. 15-14871) in Newark, New Jersey, on
March 19, 2015.

The Debtor estimated $10 million to $50 million in assets and
debt.
The official schedules of assets and liabilities, as well as the
statement of financial affairs, are due April 2, 215.

According to the docket, the Debtor's exclusive right to file a
plan expires on July 17, 2015.  The appointment of a healthcare
ombudsman is due by April 9, 2015.

The case is assigned to Judge Vincent F. Papalia.

The Debtor has tapped Anthony Sodono, III, Esq., at Trenk,
DiPasquale, Della Fera & Sodono, in West Orange, New Jersey, as
counsel.


NORBORD INC: DBRS Confirms 'BB' Issuer Rating
---------------------------------------------
DBRS Limited has confirmed the Issuer Rating of Norbord Inc. at BB,
but changed the trend from Stable to Negative following the
Company's announcement that it has completed the merger with
Ainsworth Lumber Co. Ltd. (Ainsworth) in an all-share transaction.
The trend change reflects the deterioration of the Company's
financial risk profile post-merger because of the debt assumed from
Ainsworth and weaker financial results at Ainsworth.  All debt
coverage ratios, on a pro forma basis, are aggressive for the
current rating.  Moreover, conditions in the oriented strand board
(OSB) market have remained challenging and the timing of a
meaningful recovery is uncertain.  DBRS would downgrade the rating
by one notch if Norbord fails to show steady progress in improving
its financial performance and debt coverage metrics through 2015.
Conversely, DBRS would change the trend back to Stable if the
Company could strengthen its financial performance and restore the
credit metrics to modestly above the pre-merger level.  With this
rating action, the Company is removed from Under Review with
Negative Implications, where it was placed on December 9, 2014.

Even though the merger is financed by the issuance of Norbord
shares, the addition of Ainsworth's debt has led to a meaningful
increase in debt at Norbord post-merger.  Moreover, financial
performance at both Norbord and Ainsworth has declined markedly in
2014 compared with 2013.  The Company's financial profile, on a pro
forma basis, has deteriorated and is aggressive for the current
rating.  DBRS notes that the poor financial performance at both
companies in 2014 were affected by weak OSB prices in North
America.  Even though demand has increased in line with a modest
recovery in the residential construction sector through 2014, the
increase in OSB supply as a result of the restart of a number of
previously mothballed mills has depressed prices through 2014.
However, an expected improvement in the OSB market has not
materialized.  Challenging winter conditions have held back
construction activities so far in 2015 and OSB pricing remains
under pressure.  The timing of a sustainable recovery in
residential construction activities in the United States is
uncertain.  The Company has estimated potential synergistic
benefits from the merger, at about $45 million a year achievable
over 18 to 24 months.  However, the Company is unlikely to report
meaningful improvement in financial results without more supportive
market conditions, notwithstanding contributions from potential
synergistic benefits.

DBRS notes that Ainsworth will modestly strengthen Norbord's
business risk profile with increased geographical and product
diversity, market position and operational flexibility.  The
combined company is the market leader in OSB globally and in North
America, the world's largest OSB market.  Ainsworth will
meaningfully strengthen Norbord's presence in the west coast
regions of North America and will expand Norbord's presence into
Asia, especially Japan.  Ainsworth will also expand and strengthen
Norbord's product offering with more value-added products and
associated higher profit margins.  Furthermore, the modest overlap
in geographical coverage also offers opportunities in optimizing
production facility utilization and lowering transportation costs.

DBRS would downgrade Norbord's rating by one notch unless the
Company could demonstrate steady improvement in financial results
and all debt coverage metrics through 2015.  Conversely, DBRS would
change the trend back to stable if the Company could execute its
integration with Ainsworth smoothly and strengthen all debt
coverage metrics to at least modestly stronger than the pre-merger
levels.

Pursuant to DBRS's rating criteria on recovery ratings for
non-investment grade corporate issuers, DBRS has created a default
scenario for Norbord in order to analyze when and under what
circumstances a default could hypothetically occur and the
potential recovery of the Company’s debt in the event of such
default.  DBRS has determined Norbord's estimated value at default
using an EBITDA multiple valuation approach and a 4.0x multiple of
normalized EBITDA.  Based on the default scenario, the Senior
Secured Notes would have recovery estimated between 30% and 60%,
which aligns with a recovery rating of RR4.  Therefore, the
recovery rating is downgraded to RR4 from RR3, and the lower
recovery is primarily the result of the added debt from Ainsworth
post-merger.  Consequently, the instrument rating of the Senior
Secured Notes is BB, which aligns with a recovery rating of RR4.
Even though Norbord has a lower recovery rating, the rating of the
Senior Secured Notes remains at BB with a Negative trend, the same
as the Issuer Rating.  Additionally, the rating of the Senior
Secured Notes of Norbord (Delaware) GP I, guaranteed by Norbord, is
also confirmed at BB with a Negative trend.


NORTHWEST MISSOURI HOLDINGS: Case Summary & Top Unsec. Creditors
----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                     Case No.
     ------                                     --------
     Northwest Missouri Holdings, Inc.          15-10728
     118 E. Nodaway Street
     Oregon, MO 64473

     Oregon Farmers Mutual Telephone Company    15-10729
     118 E. Nodaway Street
     Oregon, Mo 64473

     Oregon Farmers Mutual Long Distance, Inc.  15-10730
     118 E. Noaway Street
     Oregon, MO 64473

     South Holt Cablevision, Inc.               15-10731
     118 E. Nodaway Street
     Oregon, MO 64473

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Brendan Linehan Shannon

Debtors' Counsel: Charles J. Brown, Esq.
                  GELLERT SCALI BUSENKELL & BROWN LLC
                  913 Market Street, Suite 1001
                  Wilmington, DE 19801
                  Tel: 302-425-5813
                  Fax: 302-425-5814
                  Email: cbrown@gsbblaw.com

Debtors'          WERB & SULLIVAN
Co-Counsel:

                                         Estimated    Estimated
                                          Assets     Liabilities
                                        ----------   -----------
Northwest Missouri Holdings             $0-$50,000   $1MM-$10MM
Oregon Farmers Mutual Telephone         $1MM-$10MM   $1MM-$10MM
Oregon Farmers Mutual Long Distance     $0-$50,000   $1MM-$10MM
South Holt Cablevision                  $0-$50,000   $1MM-$10MM

The petitions were signed by Timothy P. Bradley, president.

A consolidated list of the Debtors' 22 largest unsecured creditors
is available for free at http://bankrupt.com/misc/deb15-10728.pdf


NSB ADVISORS: Attracts No Competing Bids
----------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
news, reported that NSB Advisors LLC canceled an auction scheduled
for March 12 after no offers surfaced to compete with lead bidder
Emancipation Management LLC.

According to the report, NSB has a contract with Emancipation,
which contract provides for payment of $25,000 plus 20 percent of
the revenue generated from existing customers in the next two
years.  

Fishkill, New York-based NSB Advisors LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
15-35009) on Jan. 5, 2015.  The case is assigned to Judge Cecelia
G. Morris.  The Debtor's counsel is Alan D. Halperin, Esq., at
Halperin Battaglia Raicht, LLP, in New York.


NUTRANOMICS INC: Incurs $944K Net Loss in Jan 31 Quarter
--------------------------------------------------------
Nutranomics, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $944,000 on $271,000 of revenue for the three months ended Jan.
31, 2015, compared to a net loss of $997,000 on $433,000 of revenue
for the same period in 2014.

The Company's balance sheet at Jan. 31, 2015, showed $1.07 million
in total assets, $2.01 million in total liabilities, and total
stockholders' deficit of $940,000.

The Company has generally had net losses after consideration of
income taxes.  Further, the Company has negative working capital
and insufficient cash flows from operation as of Jan. 31, 2015, and
does not have the requisite liquidity to pay its current
obligations.  These factors, among others, raise substantial doubt
about its ability to continue as a going concern.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/mZ8Gp4
                          
Nutranomics, Inc., engages in the research and development of
nutritional food products.  The company formulated nutritional
supplements, including formulating vitamin, mineral, herbal, and
probiotic supplements.  Its supplements include Joint Health,
Digestive Enzymes, Whole Food Multi-Vitamin, Antioxidants, Pre &
Probiotic, Immune Support, Harmone Balance, Stress/Sleep,
Detox/Cleanse, Natual Vitamin C and Natural Antiviral and solutions
include ADD & ADHD, Anemia, Celiac Supplements, Cholesterol,
Diabetes, Eczema, Fibromyalgia, Heart Disease, High Blood Pressure,
Hypoglycemia, Lupus, Multiple Sclerosis, Osteoarthritis, Rheumatoid
Arthritis and Weight Loss.  Nutranomics was founded by Dr. Tracy K.
Gibbs on March 15, 2007 and is headquartered in Salt Lake City, UT.



OANDO ENERGY: Posts $320M Loss in 2014; Gets Covenant Waiver
------------------------------------------------------------
Oando Energy Resources Inc., a company focused on oil and gas
exploration and production in Nigeria, on April 1 announced
financial and operating results for the year ended December 31,
2014.  

"In 2014 we executed on our growth strategy by acquiring the
Nigerian upstream business of ConocoPhillips Company and our
continued focus over the near term will be on optimizing the
performance of these key assets," said Pade Durotoye, CEO of Oando
Energy Resources Inc.  "While the acquisition propelled sizable
improvements in our production base, we also invested in our legacy
assets, which we expect will support further organic production
growth in the near future.  In the wake of the acquisition we have
acted on a number of opportunities to improve our balance sheet
including converting debt to equity and, subsequent to year end,
resetting our oil hedging program, which contributed $234 million
of the $238 million debt reduction in a $50 per barrel
environment."

Net revenue was $421.4 million in 2014, an increase of $294.2
million over $127.2 million earned in 2013, primarily as a result
of the COP Acquisition.  OER had hedged 10,223 bbl/day of crude oil
production between $91/bbl and $97/bbl until July 2017 and January
2019, respectively, with further upside available if certain price
targets were met.  The hedges represent approximately 47% of the
fourth quarter production rates of crude oil.  In February 2015,
the hedge price was reset to $65/bbl following the restructuring of
the hedge agreement; proceeds of $234 million were realized and
used to repay debt;
From July 30 to December 31, 2014, the Acquisition Assets
contributed $136.8 million to net income before taxes based on
$299.0 million in revenue, $116.5 million of production expenses,
and $45.7 million in depreciation, depletion and amortization
("DD&A") expense;

The Company incurred a net loss of $320.0 million during the year,
as compared to a net loss of $38.2 million in 2013.  This was
mainly due to non-cash asset impairment charges of $462.8 million,
as well as approximately $84.9 million in transaction costs
associated with the acquisition of the ConocoPhillips Nigerian
business.  These amounts were partially offset by the $288.3
million net gain on financial instruments;

As at December 31, 2014 the Company had a working capital
deficiency of $567.2 million, and significant levels of debt for
which specific debt covenants must be satisfied.  An additional
$345.6 million of borrowings was reclassified to current borrowings
as a result of debt covenant breaches; the breach of the covenant
gave the lenders associated with the $450 million loan the ability
to accelerate the maturity of the loan on demand.  However, the
lenders chose not to exercise the rights to exercise their
acceleration rights under that facility and the Corporation
received a waiver of the current ratio requirement for the December
31, 2014 calculation at March 31, 2015.  OER has taken measures to
improve liquidity by converting long-term debt to equity,
attracting equity financing, focusing on projects with highest
short-term cash flow returns, and realizing financial commodity
contract gains subsequent to year end.  Since December 2014, the
Company has since paid $238 million of debt down out of this
working capital deficiency with money received from hedges.

A copy of Oando's earnings release for the year ended December 31,
2014, is available for free at http://is.gd/83XIdc

            About Oando Energy Resources Inc. (OER)

OER currently has a broad suite of producing, development and
exploration assets in the Gulf of Guinea (predominantly in
Nigeria).  OER's sales production was 53,161 boe/d for the month
ending January 31, 2015.


OPTIM ENERGY: Seeks to Auction Interest in 2 Power Plants
---------------------------------------------------------
Optim Energy, LLC, seeks approval from the Bankruptcy Court of
bidding procedures with respect to the potential acquisition of the
Debtors' interests in two gas fired power plants -- the Altura
Cogen Plant and the Cedar Bayou Plant -- through the sale of the
reorganized equity of debtor Optim Energy Generation, LLC, pursuant
to the Debtors' Joint Plan of Reorganization dated March 18, 2015.


The Plan contemplates a potential Sale of the Gas Plant Portfolio
at a value to the Debtors in cash of at least $355 million (net of
all deductions and/or adjustments and with no right of set off), on
terms satisfactory to the Debtors as well as the DIP Lenders and
the Pre-Petition Secured Parties, to serve as a floor for further
bidding.

If the Debtors receive only one Qualifying Bid that meets or
exceeds the Reserve Price on terms satisfactory to the Debtors and
the Consultation Parties, the Debtors intend to execute an
ownership interest purchase and sale agreement with such Qualifying
Bidder in the form substantially attached to the Disclosure
Statement for the Debtors' Joint Plan of Reorganization Under
Chapter 11 of the Bankruptcy Code dated March 18, 2015 (as the same
may be subsequently amended or modified), and seek Confirmation of
the Plan to effectuate the Sale to the Qualifying Bidder pursuant
to the Bidding Procedures.  Alternatively, if the Debtors receive
more than one Qualifying Bid that meets or exceeds the Reserve
Price on terms satisfactory to the Debtors and the Consultation
Parties, the Debtors intend to conduct an Auction for the Sale of
the Reorganized OEG Equity Interests pursuant to the Bidding
Procedures, after which the Debtors intend to execute a Membership
Interest Purchase and Sale Agreement and seek Confirmation of the
Plan to effectuate the Sale to the Prevailing Bidder.  Finally, if
the Debtors do not receive a Qualifying Bid that meets or exceeds
the Reserve Price on terms satisfactory to the Debtors and the
Consultation Parties by the Bid Deadline, the Debtors will suspend
the Sale process and seek Confirmation of the Plan, which in such
circumstance, would, in part, provide for the delivery of the
Reorganized OEG Equity Interests to the Pre-Petition Secured
Parties in satisfaction of the Allowed Pre-Petition Secured Parties
Secured Claims.

At the Petition Date, the Debtors owned interests in three power
plants: the Twin Oaks Plant, the Altura Cogen Plant and the Cedar
Bayou Plant.  After a successful marketing and auction process, the
Debtors have sold the Twin Oaks Plant and the Debtors' principal
remaining assets are their interests in the Gas Plant Portfolio.

The Bidding Procedures are designed to maximize the value received
for the Reorganized OEG Equity Interests by facilitating a
competitive bidding process in which all Potential Bidders are
encouraged to participate and submit competing bids.  

The Bidding Procedures contemplate a Reserve Price for the Gas
Plant Portfolio of at least $355 million (net of all deductions
and/or adjustments and with no right of set off) in cash, on terms
satisfactory to the Debtors and the Consultation Parties.  

At the same time, the Bidding Procedures contemplate a potential
Auction of the Gas Plant Portfolio (if the Reserve Price is met and
a Baseline Bid is identified) providing the Debtors with the
opportunity to consider all competing offers and to select the
highest or best offer for the Reorganized OEG Equity Interests.
Such a process will increase the likelihood that the Debtors
receive the best possible consideration for the Gas Plant Portfolio
by helping ensure a competitive and fair bidding process.  

Accordingly, the Debtors and all parties in interest can be assured
that, taking into account the financial condition of the Debtors,
the consideration paid for the Reorganized OEG Equity Interests
will be fair, reasonable, and in the best interest of the Debtors'
estates and creditors, and there are sound business reasons to
approve the Bidding Procedures.

                          About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar
Bayou plant in Chambers County, Texas.  The Altura and Cedar Bayou
plants are fueled by natural gas, and the third is coal-fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

The Debtors have tapped Bracewell & Giuliani LLP and Morris,
Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as
restructuring advisors; and Prime Clerk LLC as claims agent.

Optim Energy, LLC scheduled $6.95 million in assets and $717
million in liabilities.  Optim Energy Cedar Bayou 4, LLC,
disclosed
$184 million in assets and $718 million in liabilities as of the
Chapter 11 filing.  The Debtors have $713 million of outstanding
principal indebtedness.

On Feb. 27, 2014, Roberta A. DeAngelis, U.S. Trustee for Region 3,
notified the Bankruptcy Court that she was unable to appoint an
official committee of unsecured creditors in the Debtors' cases.
The U.S. Trustee explained that there were insufficient responses
to her communication/contact for service on the committee.



ORIENT PAPER: Audit Opinion Includes Going Concern Paragraph
------------------------------------------------------------
Orient Paper, Inc. on April 1 disclosed that its independent
registered public accounting firm included a going concern
paragraph in its audit opinion relating to the Company's audited
consolidated financial statements for the fiscal year ended
December 31, 2014, which were included in the Company's Annual
Report on Form 10-K that the Company filed on March 25, 2015 with
the Securities and Exchange Commission.

This announcement is made pursuant to NYSE MKT LLC Company Guide
Section 610(b), which requires a public announcement of the receipt
of an audit opinion containing a going concern paragraph.

                     About Orient Paper, Inc.

Orient Paper, Inc. -- http://www.orientpaperinc.com-- is a paper
manufacturer in North China.  Using recycled paper as its primary
raw material, Orient Paper produces and distributes three
categories of paper products: corrugating medium paper, offset
printing paper, and other paper products, including digital photo
paper.  The Company is currently building facilities to expand into
the production of tissue paper.

With production operations based in Baoding in North China's Hebei
Province, Orient Paper is located strategically close to the
Beijing and Tianjin region, home to a growing base of industrial
and manufacturing activities and one of the largest markets for
paper products consumption in the country.

Orient Paper's production facilities are controlled and operated by
its wholly owned subsidiary Shengde Holdings Inc, which in turn
controls and operates Baoding Shengde Paper Co., Ltd., and Hebei
Baoding Orient Paper Milling Co., Ltd. for manufacturing digital
photo, corrugating medium and offset printing paper.

Founded in 1996, Orient Paper has been listed on the NYSE MKT with
the ticker symbol "ONP" since December 2009.


PALM BEACH COMMUNITY: Turns Over Developed Land to PNC Bank
-----------------------------------------------------------
Brian Bandell at South Florida Business Journal reports that Palm
Beach Community Church, Inc., has turned over its developed land to
PNC Bank to resolve its bankruptcy case.

Business Journal relates that the Church disposed of most of its
assets after its reorganization plan was confirmed.  

According to Business Journal, PNC Bank affiliate Land Holding LLC
acquired title to a 9-acre undeveloped parcel at 4751 PGA Boulevard
by winning an auction with a $6.31 million credit bid.  Land
Holding gave the Church credit for $6.8 million off its loan, the
report says.

Business Journal states that the Church also sold its
49,771-square-foot facility on its remaining 2.7 acres of the site
for $5 million to First Baptist Church, aka Family Church.

                     About Palm Beach Community

Palm Beach Community Church, Inc., filed a Chapter 11 petition
(Bankr. S.D. Fla. Case No. 13-35141) on Oct. 20, 2013.  The
petition was signed by Raymond Underwood as president.  The Debtor
scheduled total assets of $14.6 million and total liabilities of
$11.43 million.

Palm Beach Community Church won permission to employ Robert C. Furr
and the law firm of Furr and Cohen, P.A., as attorney; and Roy
Wiley and Covenant Financial, Inc. dba SmartPlan Financial Services
as accountants.

In December 2013, the U.S. Trustee informed the Bankruptcy Court
that it was unable to appoint a committee of creditors in the
case.

On Dec. 4, 2014, the Bankruptcy Court confirmed Palm Beach
Community Church, Inc.'s Third Amended Plan of Reorganization;
named Robert C. Furr, Esq., as disbursing agent; and scheduled a
status conference on Feb. 19, 2015 at 2:00 p.m.

The Third Amended Plan proposes to pay creditors from the Debtor's
funds on hand, revenue from its preschool, Lease Agreements,
revenues from the Borland Center, tithing and other donations from
the Church members.  The Plan also provides for the payment of
administrative claims to be paid in full on the Effective Date of
the Plan with respect to any such claim.


PARK FLETCHER: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Park Fletcher Realty LLC filed its schedules of assets and
liabilities in the U.S. Bankruptcy Court for the Southern District
of Indiana, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $15,000,000
  B. Personal Property              $201,760
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $13,050,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $76,267      
                           
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $60,910
                                 -----------   --------------
        TOTAL                    $15,201,760      $13,187,177

A full-text copy of the schedules is available for free
at http://is.gd/oLqbYR

                     About Park Fletcher Realty

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


PARK FLETCHER: Section 341(a) Meeting Continued to April 21
-----------------------------------------------------------
A meeting of creditors in the bankruptcy case of Park Fletcher
Realty, LLC, will be continued on April 21, 2015, at 10:00 a.m., in
Room 416 C US Courthouse in Indianapolis.

As reported in the Troubled Company Reporter on Feb. 25, 2015, the
meeting was originally set for March 20, 2015.

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

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

                     About Park Fletcher Realty

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


PENN HILLS SCHOOL: Moody's Cuts GO Rating to 'B3', Outlook Negative
-------------------------------------------------------------------
Moody's Investors Service downgraded the Penn Hills School
District's general obligation underlying rating to B3 from Ba3.
Concurrently, Moody's have downgraded the district's enhanced
rating to B1 from Ba1. The outlook on both ratings is negative. The
rating actions affect $53 million outstanding bonds.

The downgrade of the underlying rating to B3 from Ba3 reflects the
rapid and severe deterioration of the district's financial position
and liquidity to the point where it could only meet its April 1,
2015 debt service payment obligation with the help of the state's
intercept program, which proactively advanced funds to ensure
timely payment. Moody's expect that the district will continue to
depend upon state assistance to make future debt service payments
for the near term given its declining credit fundamentals, which
include weak governance, a willingness to risk default on general
obligation bonds, and large and growing budgetary pressures driven
by charter school enrollment, a high debt burden, and already heavy
pension contributions.

The enhanced rating downgrade to B1 from Ba1 reflects that the
intercept program has no structural requirement for future debt
service payments to be made prior to default. The rating recognizes
that state aid is sufficient to cover debt service, and that any
missed payments by the underlying are expected to be swiftly repaid
by the state such that 100% recovery in this situation is likely.
Although the state paid the district's April 1, 2015 debt service
payment on time, the rating reflects our expectation that future
intercept payments could be made post-default, most likely within a
few days after any failure to pay by the district. However, Moody's
note that competing claims for state aid from pensions and charter
school enrollments could limit the availability of these funds to
cover or assist with future debt service payments

The negative outlooks on both the enhanced and underlying ratings
reflect our expectation of sustained and ongoing financial stress
given the lack of liquidity to meet payment obligations and
uncertainty on how the district will restore cash flow sufficiency.
Given the district's reliance on state aid to pay debt service
through the intercept program, the negative outlook also reflects
our expectation that competing claims on the district's state aid,
such as charter school tuition and pension contributions, are
likely to pressure coverage of debt service from this source.

What Could Make The Rating Go Up (Removal Of Negative Outlook):

- Stabilization of operating position

- Sustained reversal of the negative operating trend that
   reduces the district's reliance on the state to meet debt
   service and other payments

What Could Make The Rating Go Down:

- Erosion of state aid given rising claims from state pension
   system and charter schools

- Prospect of a debt restructuring that would impose loss on
   bondholders

The district has a population of 42,423 and provided K-12 education
to approximately 3,900 students. It is located in the eastern
central part of Allegheny County in the southwest portion of the
state, approximately 9 miles east of downtown Pittsburgh.

Debt service on the rated debt is secured by a general obligation
limited tax pledge, as debt service is not exempt from the
limitations of Special Session Act 1 (Taxpayer Relief Act).

The principal methodology used in this underlying rating was US
Local Government General Obligation Debt published in January 2014.
The principal methodology used in this enhanced rating was State
Aid Intercept Programs and Financings: Pre and Post Default
published in July 2013.


PITTSBURGH CORNING: Schuster Out as Counsel of Judgment Creditors
-----------------------------------------------------------------
U.S. Bankruptcy Judge Thomas P. Agresti authorized Scott E.
Schuster to withdraw appearance as counsel to the Ad Hoc Committee
of Judgment Creditors in the Chapter 11 case of Pittsburgh Corning
Corporation.

Judge Agresti also ordered that the Clerk will terminate the
corresponding CM/ECF attorney record in the case.

Mr. Schuster, in his motion, certified that he (a) has satisfied
the interest of his client the Ad Hoc Committee, and (b) has
informed and received the consent of the Ad Hoc Committee to
withdraw his appearance in the case.

Mr. Schuster can be reached at:

         Scott E. Schuster, Esq.
         625 Liberty Avenue, 23rd Floor
         Pittsburgh, PA 15222
         Tel: (412) 667-6000
         Fax: (412) 667-6050
         E-mail: sschuster@mcguirewoods.com

                     About Pittsburgh Corning

Pittsburgh Corning Corporation filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Pa. Case No. 00-22876) on April 16, 2000,
to address numerous claims alleging personal injury from exposure
to asbestos.  At the time of the bankruptcy filing, there were
about 11,800 claims pending against the Company in state court
lawsuits alleging various theories of liability based on exposure
to Pittsburgh Corning's asbestos products and typically requesting
monetary damages in excess of $1 million per claim.

Judge Thomas Agresti handles the bankruptcy case.  Reed Smith LLP
serves as counsel and Deloitte & Touche LLP as accountants to the
Debtor.

The U.S. Trustee appointed a Committee of Unsecured Trade Creditors
on April 28, 2000.  The Bankruptcy Court authorized the retention
of Leech, Tishman, Fuscaldo & Lampl, LLC, as counsel to the
Committee of Unsecured Trade Creditors, and Pascarella & Wiker,
LLP, as financial advisor.

The U.S. Trustee also appointed a Committee of Asbestos Creditors
on April 28, 2000.  The Bankruptcy Court authorized the retention
of these professionals by the Committee of Asbestos Creditors: (i)
Caplin & Drysdale, Chartered as Committee Counsel; (ii) Campbell &
Levine as local counsel; (iii) Anderson Kill & Olick, P.C. as
special insurance counsel; (iv) Legal Analysis Systems, Inc., as
Asbestos-Related Bodily Injury Consultant; (v) defunct firm, L.
Tersigni Consulting, P.C. as financial advisor, and (vi) Professor
Elizabeth Warren, as a consultant to Caplin & Drysdale, Chartered.

On Feb. 16, 2001, the Court approved the appointment of Lawrence
Fitzpatrick as the Future Claimants' Representative.  The
Bankruptcy Court authorized the retention of Meyer, Unkovic &
Scott LLP as his counsel, Young Conaway Stargatt & Taylor, LLP, as
his special counsel, and Analysis, Research and Planning
Corporation as his claims consultant.

In 2003, a plan of reorganization was agreed to by various
parties-in-interest, but, on Dec. 21, 2006, the Bankruptcy Court
issued an order denying the confirmation of that plan, citing that
the plan was too broad in addressing independent asbestos claims
that were not associated with Pittsburgh Corning.

On Jan. 29, 2009, an amended plan of reorganization (the Amended
PCC Plan) -- which addressed the issues raised by the Court when
it denied confirmation of the 2003 Plan -- was filed with the
Bankruptcy Court.

As reported by the TCR on April 25, 2012, Pittsburgh Corning,
which is a joint venture between Corning Inc. and PPG Industries
Inc., filed another amendment to its reorganization plan designed
to wrap up a Chapter 11 begun 12 years ago.

PCC's balance sheet at Sept. 30, 2012, showed $29.4 billion in
total assets, $7.52 billion in total liabilities and $21.9 billion
in total equity.



POLYMER GROUP: S&P Retains 'B-' Rating on 1st Lien Term Loan B
--------------------------------------------------------------
Standard & Poor's Ratings Services said that the 'B-' issue-level
rating and '3' recovery rating on Charlotte, N.C.-based global
manufacturer of nonwovens, Polymer Group Inc.'s first-lien term
loan B will remain unchanged following the company's announcement
of a proposed add-on of approximately $70 million.  The '3'
recovery rating indicates meaningful (50% to 70%; lower half of the
range) recovery in the case of a payment default.  This issuance
will be an amendment to the company's existing term loan B and will
be used in connection with the acquisition of Dounor SAS.  All
other ratings on Polymer Group, including the 'B-' corporate credit
rating, are unchanged.  The outlook is stable.

The ratings on Polymer Group reflect S&P's assessments of the
company's "weak" business profile and "highly leveraged" financial
risk profile.

RATING LIST

Polymer Group Inc.
Corporate credit rating       B-/Stable/--

Rating Unchanged
Polymer Group Inc.
First-lien term loan B       B-
  Recovery rating             3L  



PONCE DE LEON: Gets Approval to Transfer Properties to PRLP
-----------------------------------------------------------
Ponce de Leon 1403 Inc. received approval from the U.S. Bankruptcy
Court in Puerto Rico to transfer its properties to PRLP 2011
Holdings LLC.

The properties, which consist of 13 residential units and two
commercial units at Metro Plaza Condominium, secure PRLP's $4.63
million claim.  

The condominium located in Santurce, Puerto Rico, was constructed
through a $345 million loan from Banco Popular de Puerto Rico,
predecessor-in-interest of PRLP.

The transfer of the properties is part of a deal that Ponce de Leon
reached with PRLP and guarantors of the loan to resolve the
company's secured claim.

The settlement, which the court also approved, requires the
transfer of the properties "free and clear" of liens and the
immediate payment of $1.4 million to PRLP.  

Ponce de Leon will also pay an additional $500,000, which is held
in escrow by Atlantic Master Parking Services Inc., according to
court filings.

In return, the case filed by PRLP against the loan guarantors will
be dismissed.  The parties will not also appeal the court's orders,
which approved the settlement and transfer of Ponce de Leon's
properties and confirmed the company's restructuring plan.

Meanwhile, the registrar of property was ordered to record the
transfer of the properties without the need to execute a public
deed.  

The companies previously disputed over how the transfer should be
made.  PRLP proposed that the transaction be registered through a
petition to the registrar in order to minimize expenses while Ponce
de Leon wanted it registered through a public deed.

                        About Ponce De Leon

San Juan, P.R.-based Ponce De Leon 1403, Inc., developed,
constructed, and operates the Metro Plaza Tower condominium and
commercial property project in Santurce, Puerto Rico.  The Metro
Plaza Tower project consists of two 15-story towers atop a base
structure that serves as a parking garage, common area, and retail
space.  Each tower houses 87 residential units.  The base structure
provides approximately 567 parking spaces and has approximately
14,000 square feet of commercial space available for lease.  The
common areas of the project include a swimming pool, a gym, gardens
and a gazebo.

Ponce De Leon 1403 Inc. filed for Chapter 11 protection (Bank. D.
P.R. Case No. 11-07920) on Sept. 19, 2011.  The Debtor estimated
both assets and debts of between US$10 million and US$50 million.

Carmen Conde Torres, Esq., and Luisa S. Valle Castro, at C. Conde &
Assoc., in Old San Juan, Puerto Rico, represent the Debtor as
counsel.

The Debtor filed a Plan of Reorganization dated April 13, 2012.
The Debtor won approval of the explanatory Disclosure Statement on
June 25, 2012.  It amended the Plan on Jan. 25, 2013.  Under the
Plan, the Debtor will generate revenue by selling all of the
remaining residential units and selling or leasing commercial
spaces in the Metro Plaza Towers project, including the public
parking spaces.



POSITIVEID CORP: Holds 5.5% Stake in VeriTeQ Corp as of March 31
----------------------------------------------------------------
PositiveID Corporation disclosed in a regulatory filing with the
Securities and Exchange Commission that a of March 31, 2015, it
beneficially owns 1,679,787 shares of common stock of VeriTeQ
Corporation, which represents 5.5 percent (based on 30,802,114
shares of common stock outstanding as of March 31, 2015).  A copy
of the Schedule 13G/A is available at http://is.gd/JRxw6G

                         About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $8.22 million on $945,000 of revenue for the year ended Dec. 31,
2014, compared with a net loss attributable to common stockholders
of $13.33 million on $0 of revenue for the year ended Dec. 31,
2013.

As of Dec. 31, 2014, the Company had $1.02 million in total assets,
$9.46 million in total liabilities, and a $8.44 million total
stockholders' deficit.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014.  The accounting firm noted that
the Company reported a net loss, and used cash for operating
activities of approximately $8.61 million and $2.57 million
respectively, in 2014.  At Dec. 31, 2014, the Company had a working
capital deficiency, stockholders' deficit and accumulated deficit
of approximately $8.076 million, $8.45 million and $133 million,
respectively.  These matters raise substantial doubt about the
Company's ability to continue as a going concern, according to the
regulatory filing.


PREFERRED PROPERTY: FDIC's Disgorgement Bid, Fee Objection Denied
-----------------------------------------------------------------
Chief Bankruptcy Judge Mary P. Gorman of the Central District of
Illinois denied the motion filed by the Federal Deposit Insurance
Corporation, the receiver for Country Bank, which seeks
disgorgement of all amounts previously paid to the former attorneys
of debtor Preferred Property Group, LLC.

Judge Gorman also overruled the FDIC's objection to the Second Fee
Application of Crane, Heyman, Simon, Welch & Clar, the Debtor's
counsel.

"Under the circumstances presented here, disgorgement is not the
right remedy for an alleged misuse of cash collateral. If the
previously authorized use of cash collateral to pay professional
fees is ultimately reversed, that does not change the fact that the
fees were ordered to be paid in the first place. The estate is
solvent and can easily provide adequate protection to the FDIC in
the form of a cash payment or replacement lien," Judge Gorman
said.

"To the extent disgorgement is sought by the FDIC for wrongful
conduct by the Debtor's attorneys, the FDIC does not have standing
to prosecute those issues. The Trustee is the real party in
interest as to all causes of action for alleged wrongful conduct by
CHSWC and the damages, if any, from such conduct would flow to the
estate, not to the FDIC. The Disgorgement Motion must be denied in
its entirety," Judge Gorman continued.

Roger Stone was appointed Chapter 11 Trustee for the Debtor.

Judge Gorman also held that the FDIC has waived its interest in the
remaining cash in the estate. The Trustee is free to use the funds
to pay administrative claims and to make distributions to unsecured
creditors in accordance with statute. If the FDIC will not be
injured by these other types of disbursements by the Trustee, it
cannot plausibly contend that it will be injured by the Trustee
making a distribution of a portion of the funds to CHSWC.  The
Court said the FDIC and John Lipinsky, the attorney of record for
Country Bank, may be annoyed by any award of fees and distribution
to CHSWC, but that does not result in the type of redressable
injury that creates constitutional or prudential standing. The
FDIC's objection to the Second Fee Application cannot be
sustained.

The Second Fee Application sought allowance of interim fees and
expenses of $136,499 and $2,979, respectively, for the period
beginning Nov. 1, 2012, and ending Aug. 6, 2013.  The Second Fee
Application drew objections from the U.S. Trustee and the FDIC.

Country Bank held notes, mortgages, and assignments of rents on a
number of properties, including: (a) 600 North Convent Avenue,
Bourbonnais, Illinois; (b) 360 Buckman Drive, Bourbonnais,
Illinois; and (c) 920 Westwood Road, Kankakee, Illinois. In October
2011, Country Bank was closed, and the FDIC was appointed as its
receiver.  The FDIC was substituted for Country Bank in this case
and retained Ms. Lipinsky, the attorney of record for Country Bank.
The FDIC filed a proof of claim for $11,019,379 secured by the
Debtor's properties, and consisting primarily of $7,190,949 owed on
the note relating to the North Convent property.

A copy of the Court's March 31, 2015 Opinion is available at
http://is.gd/kwjuvtfrom Leagle.com.

                  About Preferred Property Group

Preferred Property Group, LLC previously engaged in the ownership
and management of commercial and residential real estate.  Its
properties, and the rents generated therefrom, were subject to
mortgages and security interests held by several creditors.

Preferred Property Group, LLC filed for Chapter 11 bankruptcy
(Bankr. C.D. Ill. Case No. 11-91764) on Sept. 27, 2011, listing
under $1 million in both assets and liabilities.  A copy of the
bankruptcy petition is available at
http://bankrupt.com/misc/ilcb11-91764.pdf Scott R. Clar, Esq. --
sclar@craneheyman.com -- at Crane, Heyman, Simon, Welch & Clar,
serves as counsel.


PREMIER EXHIBITIONS: Signs Merger Agreement with With Dinoking
--------------------------------------------------------------
Premier Exhibitions, Inc. has entered into a definitive merger
agreement whereby it will combine with Dinoking Tech Inc.  Under
the Merger Agreement, the Dinoking Tech shareholders will be
entitled to up to 24% of the fully diluted ownership of the Company
for all of the issued and outstanding shares of Dinoking Tech.  In
addition, an Investor Group will provide up to $13.5 million in
funding to Premier to repay $8 million of existing debt and $5.5
million for corporate purposes including the completion of the
development of "Saturday Night Live: The Exhibition" and "Premier
on 5th", the Company's state-of-the-art exhibition and special
events center located in New York City.  The transaction has been
approved by the Board of Directors of Premier.  Premier's principal
shareholder, Sellers Capital, as well as the directors and officers
of the Company have entered into agreements to vote in favor of the
transaction.  The completion of the transaction is subject to
Premier shareholder approval among other customary closing
conditions.  The merger is expected to be completed in August
2015.

Dinoking Tech Inc., based in Richmond, British Columbia, Canada, is
the holding company of Dinosaurs Unearthed, an industry-leading
traveling exhibition company with a range of indoor and outdoor
exhibition experiences designed to engage and entertain audiences.
Current exhibitions include Dinosaurs Alive!, Dinosaurs Unearthed,
Extreme Dinosaurs, Xtreme BUGS!, and, to be launched in June 2015
in Australia, Creatures of the Deep.

Strategic Benefits of the Transaction

  * Further strengthens Premier's leadership position as the
    dominant global exhibition provider by combining a number of
    extremely successful brands

  * Leverages DK's existing infrastructure and relationships to
    expand presence in Asia and other markets

  * Provides financing solutions allowing the Company to focus on
    growth and revenue and content diversification

  * Broadens strong operational expertise with a combined
    management team with a track record of bringing successful and

    innovative content to market

Mark Sellers, board member and managing member of Sellers Capital,
Premier's largest shareholder, said, "By combining Premier's assets
with DK's, we've created a stronger company with the scope and
capabilities to leverage long-term growth opportunities in the
marketplace, including Asia.  Daoping Bao has a track record of
success and fiscal discipline in the exhibition business and we're
excited to have him oversee the combined company.  With the
infusion of growth capital, Premier's core operating business will
finally be stabilized and we can focus on further leveraging
existing content by bringing our exhibitions, as well as new
content, to previously untapped markets throughout the world.  I'm
excited about the growth opportunities this merger presents."

"As leaders in the industry, Premier and DK will seek to leverage
the combined brand portfolio and capitalize on the significant
global opportunities inherent in this transaction.  We look to
expand our footprint globally, especially in Asia, where we believe
there are opportunities for our combined entity to deliver world
class exhibitions and other new content," said Daoping Bao, Founder
and President of DK.

Summary of Merger Agreement

Under the terms of the agreement, Premier will acquire all
outstanding shares of DK, of which Daoping Bao is the principal
shareholder, for a total consideration of US$6.4 million payable in
Premier shares or shares exchangeable for Premier shares at
transaction close.  Premier has also agreed to future contingent
payments to the DK shareholders of up to US$8.6 million payable in
either cash or stock if certain milestones are reached.  In
addition, an Investor Group will invest up to $13.5 million in
Premier through convertible debentures carrying an interest rate of
12% per annum and a conversion price of $4.48 per share.  The
conversion price represents a premium of approximately 38.5 percent
and 32.4 percent to Premier's volume weighted average price for the
trailing 30 days and 60 days, respectively.  The merger and
conversion of the debenture is subject to shareholder approval and
expected to take place at the closing of the deal.

Upon the signing of the Merger Agreement, $8.0 million of the
proceeds will be used to repay the existing $8.0 million Secured
Promissory Note and Guarantee entered into with two affiliates of
Pentwater Capital Management LP on September 30, 2014.  The
remaining $5.5 million will be provided through subsequent capital
drawdowns and be primarily used to complete Premier's current
development projects and to fund working capital requirements.

Upon the closing of the transaction, the DK shareholders and the
Investor Group will hold 47.0% of the outstanding Premier voting
shares, subject to additional contingent payments, and the right to
nominate four out of seven board members.  Mr. Bao will become the
executive chairman, president and chief executive officer of
Premier while DK will become an indirect wholly-owned subsidiary.

Thompson Hine LLP and Gowling Lafleur Henderson LLP served as legal
counsel to Premier and DK was represented by Dentons in both Canada
and the U.S.

                    About Premier Exhibitions

Premier Exhibitions, Inc., develops, deploys and operates
exhibition products that are presented to the public in exhibition
centers, museums and non-traditional venues.  The Atlanta-based
Company's exhibitions generate income primarily through ticket
sales, third-party licensing, sponsorships and merchandise sales.

Premier reported a net loss of $778,000 for the year ended  
Feb. 28, 2014, compared to net income of $1.86 million for the year
ended Feb. 28, 2013.

                        Bankruptcy Warning

"If our efforts to raise additional funds are unsuccessful, the
Company will be required to delay, reduce or eliminate portions of
our strategic plan and may be required to seek the protection of
the U.S. bankruptcy laws and/or cease operating as a going concern.
In addition, if the Company does not meet its payment obligations
to third parties as they come due, the Company may be subject to an
involuntary bankruptcy proceeding or other litigation claims.  Even
if the Company were successful in defending against these potential
claims and proceedings, such claims and proceedings could result in
substantial costs and be a distraction to management, and may
result in unfavorable results that could further adversely impact
our financial condition.

If the Company makes a bankruptcy filing, is subject to an
involuntary bankruptcy filing, or is otherwise unable to continue
as a going concern, the Company may be required to liquidate its
assets and may receive less than the value at which those assets
are carried on its financial statements, and it is likely that
shareholders will lose all or a part of their investments.  These
financial statements do not include any adjustments that might
result from the outcome of this uncertainty," the Company stated in
the quarterly report for the period ended Nov. 30, 2014.


PRIME GLOBAL: Has Operating loss and Working Capital Deficit
------------------------------------------------------------
Prime Global Capital Group Incorporated filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q, disclosing a net loss of $519,000 on $537,000 of total
revenues for the three months ended Jan. 31, 2015, compared with a
net loss of $641,000 on $202,000 of total revenues for the same
period during the prior year.

The Company's balance sheet at Jan. 31, 2015, showed $56.26 million
in total assets, $18.19 million in total liabilities and total
equity of $38.07 million.

As of Jan. 31, 2015, the Company suffered from an operating loss
and working capital deficit of $1.41 million.  The continuation of
the Company as a going concern is dependent upon improving the
profitability and the continuing financial support from its
stockholders.  Management believes the existing shareholders or
external financing will provide the additional cash to meet the
Company’s obligations as they become due.  These factors raise
substantial doubt about the Company’s ability to continue as a
going concern.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/v4k5O3
                          
Kuala Lumpur, Malaysia-based Prime Global Capital Group
Incorporated operates in the following four business segments: (i)
the provision of IT consulting, programming and website
development services; (ii) its  oilseeds business; (iii) its real
estate business and (iv) the distribution of consumer products.
The Company's software, oilseeds and real estate businesses
accounted for all of the Company's revenues for the six months
ended April 30, 2013.  The Company did not generate any revenues
from the distribution of consumer products during such period.

On Dec. 24, 2013, the Company filed its annual report on
Form 10-K for the fiscal year ended Oct. 31, 2013.

B F Borgers CPA PC expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company
suffered from significant operating loss and working capital
deficit of $1.89 million.  The continuation of the Company as a
going concern through Oct. 31, 2014, is dependent upon improving
the profitability and the continuing financial support from its
stockholders.  Management believes the existing shareholders will
provide the additional cash to meet the Company's obligations as
they become due.

The Company reported a net loss of $2.09 million on $1.95 million
of net revenues for the year ended Oct. 31, 2013, compared with
net income of $1.47 million on $3.05 million of net revenues for
the fiscal year ended Oct. 31, 2012.


PULSE ELECTRONICS: AB Value Partners Holds 5% Stake as of April 2
-----------------------------------------------------------------
AB Value Partners, LP disclosed in a regulatory filing with the
Securities and Exchange Commission that as of April 2, 2015, it
beneficially owns 903,858 shares of common stock of Pulse
Electronics Corporation which represents 5.15 percent based upon
approximately 17,549,295 Shares issued and outstanding, which is
the total number of Shares outstanding as of March 20, 2015, as
reported in Issuer's 10-Q filed with the SEC on March 20, 2015.  AB
Value Management LLC and Andrew Berger also reported beneficial
ownership of 1,389,924 common shares as of that date.  A copy of
the regulatory filing is available for free at http://is.gd/63q0Rl


                       About Pulse Electronics

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

Pulse Electronics incurred a net loss of $32.9 million for the year
ended Dec. 26, 2014, compared to a net loss of $27.02 million for
the year ended Dec. 27, 2013.

As of Dec. 26, 2014, Pulse Electronics had $165 million in total
assets, $246 million in total liabilities and a $81.3 million total
shareholders' deficit.


PULSE ELECTRONICS: Gets $8.5 Million Loan From Parent
-----------------------------------------------------
Pulse Electronics Corporation received a cash loan in the amount of
$8.5 million from OCM PE Holdings, L.P. ("Parent"), in exchange for
the issuance by the Company of a Promissory Note in the principal
amount of $8.5 million to Parent, according to a document filed
with the Securities and Exchange Commission.  The Company issued
the Note pursuant to the previously announced Investment Agreement
and Agreement and Plan of Merger, dated as of Feb. 28, 2015, by and
among the Company, Parent, and OCM PE Merger Sub, Inc., a
Pennsylvania corporation and wholly-owned subsidiary of Parent.

The Note bears interest at a rate of 10% per annum and such
interest is payable in arrears on the last business day of each
March, June, September and December, commencing on June 30, 2015,
and ending on Nov. 20, 2017.  Those interest payments may, at the
Company's election, be paid in cash or "paid in kind," with the
amount of such "paid in kind" interest being added to the amount of
principal outstanding under the Note on the applicable Interest
Payment Date.

Upon the closing of the merger pursuant to the Merger Agreement,
the Parent is to contribute $17 million in cash less the principal
amount of the Loan to the Company, and that contribution, together
with the Note, will be converted for such number of shares of the
Company's common stock, par value $0.125 per share, as shall be
determined by dividing the aggregate investment amount of $17.0
million (together with accrued interest, dividends or other amounts
accrued thereon) by $1.50, subject to the terms set forth in the
Merger Agreement.

Unless the Conversion has been effected prior thereto, amounts of
principal under the Note are due on the earlier of the Maturity
Date and the acceleration of the maturity of the Note by Parent
following the occurrence of an "Event of Default" as defined
therein.  The Note is an unsecured note, and the obligations under
the Note are guaranteed by the Company's domestic subsidiaries on
an unsecured basis.

The Company is permitted to prepay, without premium or penalty, all
or any portion of the entire principal amount outstanding under the
Note at any time on one business day's notice, provided that, prior
to the termination of the Merger Agreement (in accordance with its
terms), no such prepayment is permitted without obtaining Parent's
prior written consent.

The full principal amount of the Note, together with all accrued
and unpaid interest thereon, is automatically due upon the
occurrence of certain specified insolvency-related "Events of
Default" as defined therein.  While any Event of Default exists,
the Company is to pay interest on the principal amount of all
outstanding obligations under the Note, as well as on any other
amount payable thereunder and not paid when due, at an interest
rate per annum equal to 12%.

The Company filed with the SEC an amended Schedule 13E-3
to reflect the consummation of the Loan transaction, a copy of
which is available for free at http://is.gd/aevuuS

                      About Pulse Electronics

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

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

Pulse Electronics Corporation filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $32.9 million on $344 million of net sales for the year
ended Dec. 26, 2014, compared to a net loss of $27.02 million on
$356 million of net sales for the year ended Dec. 27, 2013.

As of Dec. 26, 2014, Pulse Electronics had $165 million in total
assets, $246 million in total liabilities and a $81.3 million total
shareholders' deficit.


PWK TIMBERLAND: Plan Outline Hearing Continued Until April 16
-------------------------------------------------------------
The U.S. Bankruptcy Court continued until April 16, 2015, at 10:30
a.m., the hearing to consider adequacy of the information in the
Amended Disclosure Statement explaining the Chapter 11 Plan filed
by PWK Timberland, LLC.

Under the plan, creditors will receive full payment of their claims
against the company.  Meanwhile, equity holders agreed to forego
any payments under the plan until all impaired creditors are paid.
PWK Timberland does not believe there are any general unsecured
creditors but if there are, they will be paid in full on the
effective date of the plan.

                       About PWK Timberland

Lake Charles, Louisiana-based PWK Timberland LLC sought Chapter 11
protection (Bankr. W.D. La. Case No. 13-20242) on March 22, 2013.
Gerald J. Casey, Esq., serves as counsel to the Debtor.  The
Debtor
disclosed $15 million in assets and $1.79 million in liabilities
as
of the Chapter 11 filing.

The Debtor has filed a first amended plan of reorganization and
explanatory disclosure statement.   A copy of the First Amended
Disclosure Statement dated April 30, 2014, is available for free
at http://bankrupt.com/misc/PWKTIMBERLAND_1stAmdDS.PDF

As reported in the Dec. 11, 2013 edition of the Troubled Company
Reporter, PWK Timberland's Plan provides that all allowed claims
will be satisfied in full.  The Plan contemplates (i) that the
unsecured claims of former members are unimpaired; (ii) the Debtor
does not believe there are any general unsecured creditors but if
there are, they will be paid in full on the Effective Date; and
(iii) equity holders agreed to forgo any payments under the plan
until all impaired creditors have been paid in according to the
terms of the Plan.


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

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $23,475,630
  B. Personal Property        $1,071,021,650
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $500,904,020
  E. Creditors Holding
     Unsecured Priority
     Claims                                       $93,680,806
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                    $2,590,316,460
                                 -----------      -----------
        Total                 $1,094,497,280   $3,184,901,286

A copy of the schedules is available for free at:

       http://bankrupt.com/misc/RadioShack_1097_SOFAs.pdf

                  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: Former Dell Exec to Lead Fund's Plan Revive Chain
------------------------------------------------------------------
Drew Fitzgerald, writing for The Wall Street Journal, reported that
Standard General LP named former Dell Inc. executive Ron Garriques
to oversee RadioShack Corp.'s plan to return to profitability.

According to the report, Mr. Garriques will join the company being
run by Standard General after several years at Dell, where he was
in charge of its communications and consumer divisions.  Standard
General Managing Partner Soohyung Kim outlined the plan to keep a
slimmed-down chain open for business after a bankruptcy court
approved its plan to take over the stores, the Journal said.

Most locations that survived liquidation will carve out space for
Sprint Corp., which had been seeking to grow its retail footprint,
to operate its own wireless stores, while other stores will focus
on prepaid phones, the Journal related.

                  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.  The Committee has retained
Cooley LLP and Quinn Emanuel Urquhart & Sullivan LLP as lead
co-counsel; Whiteford, Taylor & Preston, LLC, as the Delaware
counsel; and Houlihan Lokey Capital, Inc., as financial advisor.


RADIOSHACK CORP: General Wireless to Acquire 1,743 Stores
---------------------------------------------------------
General Wireless Inc., an affiliate of Standard General LP, on
April 2 disclosed that General Wireless has received U.S.
Bankruptcy Court approval to acquire the inventory and assume
leases of 1,743 RadioShack stores following an auction conducted
under Section 363 of the U.S. Bankruptcy Code.

"This has admittedly been a difficult time for all RadioShack
supporters.  That having been said, this transaction is an
important milestone in this storied company's history," said
Soo Kim, Managing Partner of Standard General, the majority
shareholder of General Wireless.  "It has allowed the company to
shed stifling debts and unprofitable business lines.  The new
company has now been reorganized around a solid retail franchise
underpinned by a world-class mobility carrier, Sprint Corporation
("Sprint").  It will now have the resources to fulfill its core
mission of providing more than 1,200 communities across the country
with first-rate service and high-quality, high-value electronics
and accessories."

"We look forward to partnering with the company's 7,500 associates,
its landlords, and with Sprint to rebuild a great American company.
In the coming weeks we plan to introduce our talented management
team comprised of both new and continuing RadioShack executives.
Finally, we would like to thank Joe Magnacca and the RadioShack
Board of Directors for their tireless efforts and leadership
throughout these challenging circumstances."

The company's long-term partnership with Sprint will help
reposition RadioShack as the premier community destination for
consumer electronics.  The stores will feature emerging
technologies that enhance the traditional accessories, DIY
electronics and innovation for which the company is known.
Approximately 1,440 stores will be co-branded with Sprint.  The
unique co-branding partnership will further the company's strategy
of engaging the "mobile first" generation.

"We are pleased with the outcome of the auction and look forward to
working closely with Standard General to make the new company a
success.  For us, the opportunity to increase our national
distribution footprint by approximately 50 percent while delivering
an appealing new format for our customers is incredible," said
Jaime Jones, president of the Postpaid and General Business
organization for Sprint.  "We look forward to rolling out the
concept quickly and delivering valuable cross-marketing
opportunities to both companies."

Standard General is represented by Debevoise & Plimpton LLP and DLA
Piper.

Sprint is represented by McGuireWoods LLP, and its financial
advisor is GLC Advisors & Co., LLC.

                   About Standard General LP

Standard General LP -- http://www.standardgenerallp.com/-- is a
New York City-based SEC-registered investment advisor that manages
event-driven opportunity funds.  Standard General was founded in
2007 and primarily manages capital for public and private pension
funds, endowments, foundations and high net-worth individuals.

                 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.  The Committee has retained
Cooley LLP and Quinn Emanuel Urquhart & Sullivan LLP as lead
co-counsel; Whiteford, Taylor & Preston, LLC, as the Delaware
counsel; and Houlihan Lokey Capital, Inc., as financial advisor.


RADIOSHACK CORP: Gets Approval to Sell Lease to Famous Famiglia
---------------------------------------------------------------
RadioShack Corp. received court approval to sell a nonresidential
real property lease to Famous Famiglia Pizzeria.

U.S. Bankruptcy Judge Brendan Shannon approved the sale of the
lease to Famous Famiglia, which emerged as the winning bidder at an
auction on Feb. 25.  

Famous Famiglia offered $32,469, plus all other consideration,
according to court filings.

RadioShack leased the property located along Broadway, in New York,
from Woodrow Court Inc.  The property is identified as Store Number
2835 in court papers.

Earlier, Woodrow filed an objection in which it demanded payment of
so-called cure amount from RadioShack and "adequate assurance of
future performance" from Famous Famiglia.  The objection had
already been resolved.

                  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: Joe Magnacca Leaves CEO Post Without Successor
---------------------------------------------------------------
Steve Kaskovich at Star-Telegram reports that Joe Magnacca has
stepped down as RadioShack Corp.'s chief executive officer.

According to Star-Telegram, the Company hasn't named a new CEO.

Star-Telegram quoted Wedbush Securities analyst Michael Pachter as
saying, "He was really good, and really competent, but they didn't
have enough capital to accomplish what they needed to."

Star-Telegram relates that permanent rights to the Company's name
will be marketed in a separate sale.  As reported by the Troubled
Company Reporter on April 2, 2015, Peg Brickley, writing for The
Wall Street Journal, reported that the U.S. Bankruptcy Judge
Brendan Linehan Shannon authorized the Company to sell most of its
stores to Standard General LP in a deal that will send the retailer
out of bankruptcy in pared-down form, but still selling
electronics.  The Company, according to Viraj Shah at Invest
Correctly, said that time factor forced the Company to take a quick
decision to accept Standard General's bid.  Invest Correctly states
that the Company had to make a decision to prevent paying rent for
April.

Star-Telegram adds that Standard General has a license to use the
RadioShack name for six months, but if it doesn't acquire the name
in court, it may have to drop the moniker from the stores it has
acquired.

                  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.  The Committee has retained
Cooley LLP and Quinn Emanuel Urquhart & Sullivan LLP as lead
co-counsel; Whiteford, Taylor & Preston, LLC, as the Delaware
counsel; and Houlihan Lokey Capital, Inc., as financial advisor.


RECYCLE SOLUTIONS: Has Until May 1 to File Reorganization Plan
--------------------------------------------------------------
The Bankruptcy Court extended until May 1, 2015, Recycle Solutions,
Inc.'s exclusive period to file a chapter 11 plan and disclosure
statement.

The Debtor had filed a motion asking the Court to extend its
exclusive periods to file a chapter 11 plan and explanatory
disclosure statement to July 2, 2015, and solicit acceptances for
that plan until Aug. 31.

In seeking an extension, the Debtor said that negotiations and
accounting regarding the use of cash collateral with Regions Bank,
its primary lender, has taken longer than anticipated.  The Debtor
required additional time to explore financial strategies and
alternative, particularly on light of the delay in finalizing a
cash collateral order.

Regions Bank objected to the Debtor's motion for exclusivity
extension stating that from the Debtor's operating reports, it does
not appear that Debtor has the ability to generate sufficient cash
flow to service all of the debt that Debtor would have to pay under
a plan.  As of the Petition Date, Debtor was in default in its
obligations to Regions Bank and was obligated to Regions Bank in an
amount totaling in excess of $2,604,185.

Regions Bank is represented by:

        Harris P. Quinn, Esq.
        PROCHASKA QUINN & FERRARO, P.C.
        50 North Front Street, Suite 845
        Memphis, TN 38103
        Tel: (901) 577-1042
        Fax: (901) 521-0206

                      About Recycle Solutions

Recycle Solutions, Inc., founded in 2002 in Memphis, TN, is in the
business of recycling and reusing plastic, wood and packaging for
film rolls.  The company claims to be a pioneer in helping leading
corporations develop and implement innovative programs to reduce
their environmental impact.  James Downing, of Arlington,
Tennessee, founder and president, owns 100% of the stock.

Recycle Solutions sought Chapter 11 bankruptcy protection in its
home-town in Memphis (Bankr. W.D. Tenn. Case No. 14-31338) on
Nov. 4, 2014, disclosing assets of $11.5 million against
liabilities of $6.4 million.

The case is assigned to Judge George W. Emerson Jr.  The Debtor is
represented by Steven N. Douglass, Esq., at Harris Shelton Hanover
Walsh, PLLC, in Memphis.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due March 4, 2015.

The U.S. Trustee for Region 8 appointed three creditors to serve
on
the official committee of unsecured creditors.  Adam B. Emerson of
Bridgforth & Buntin, PLLC, represents the Committee as counsel.



REICHHOLD: Completes Asset Purchase & Debt-for-Equity Exchange
--------------------------------------------------------------
Reichhold on April 2 disclosed that the purchase of most of the
assets of the U.S. business was completed.  This transaction,
approved by the United States Bankruptcy Court for the District of
Delaware on January 12, 2015, allows Reichhold's U.S. businesses to
successfully emerge from bankruptcy and re-join the rest of the
global Reichhold organization.

Concurrent with this purchase, Reichhold completed a
debt-for-equity exchange with a group of investors led by Black
Diamond Capital Management LLC and including J.P. Morgan Investment
Management, Inc., Third Avenue Management LLC, and Simplon Partners
LP.  As a result of that transaction, Reichhold is now owned by
those and other investors.

Reichhold is a privately held entity with a significantly stronger
balance sheet, having shed some major legacy liabilities while
eliminating the high yield bond debt.

"[Thurs]day is a great day for our customers, suppliers and
employees.  Our company has remained intact, and we are better
positioned than ever to leverage the strengths of our global
business and industry-leading brands to bring new solutions to our
customers.  We will use our stronger balance sheet to drive
operational improvement and to increase profitability.  We are
better capitalized and have a solid financial foundation for future
growth.  We have emerged from this process even more capable of
developing and delivering the innovative products and services that
our customers value.  Our new products continue to gain traction in
the marketplace, and we continue to deliver innovation which serves
unfilled needs in our industry.  With the support of our new
owners, key stakeholders, advisors and the hard work and commitment
of our employees, we are pleased that we have successfully
navigated this process in a very short time period while operating
our business as usual and without interruption.  We are
appreciative of all who have supported us during the past few
months, and as we begin our 88th year, we are as committed as ever
to growing our business and improving our industry," said John S.
Gaither, President and CEO of Reichhold.

Additional information is available on Reichhold's website at
www.Reichhold.com or by calling Reichhold's Restructuring Hotline,
toll-free in the U.S. at (844) 246-9934.  For calls originating
outside the U.S., please call +1 (919) 558-2300.

          About Black Diamond Capital Management, LLC

Black Diamond Capital Management, LLC, is a privately held
alternative asset management firm. Black Diamond manages
approximately $8 billion in assets across three complementary
investment platforms: Control Distressed/Private Equity Funds, a
Hedge Fund, and CLOs and other structured vehicles.

                About Third Avenue Management LLC

Third Avenue Management LLC is a New York-based investment advisory
firm that offers its services to private and institutional clients.
Third Avenue adheres to a disciplined bottom-up value investment
strategy to identify investment opportunities in undervalued
securities of companies with high quality assets, understandable
businesses and strong management teams that have the potential to
create value over the long term. Third Avenue offers value-oriented
strategies through mutual funds, UCITS, separate accounts and
alternative investment vehicles.

                   About Simplon Partners LP

T.A. McKay & Co., Inc., an SEC-registered investment adviser,
manages two investment funds focused exclusively on distressed
credit obligations.  Simplon Partners LP is for US residents and
has been in existence since 1989, concentrating on situations with
market capitalizations of under $500 million.

                         About Reichhold

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, USA, is one of the
world's largest manufacturer of unsaturated polyester resins and a
leading supplier of coating resins for the industrial,
transportation, building and construction, marine, consumer and
graphic arts markets.  Reichhold -- http://www.Reichhold.com/--
has manufacturing operations throughout North America, Latin
America, the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.  In 2013,
the companies generated $1.08 billion in net revenue, and as of the
year-to-date August 2014, $750 million in net revenues.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

The Reichhold Companies are pursuing a sale transaction that has
two elements:

   (i) a consensual foreclosure by the holders of senior secured
notes on their security interests in the common and preferred stock
in Reichhold Holdings Luxembourg, S.a.r.l. ("RHL"), the ultimate
holding company of all of the non-debtor affiliates that operate
outside the U.S., and

  (ii) a purchase of certain assets of the Debtors by Reichhold
Holdings International B.V. through a credit bid pursuant to
Section 363 of the Bankruptcy Code.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.

Logan & Company is the company's claims and noticing agent.

The cases are assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.

The U.S. Bankruptcy Court authorized the amendment to the
litigation trust agreement between MIG LLC, et al., and Bank of New
York Mellon, as indenture trustee.

As reported in the Troubled Company Reporter on Dec. 8, 2014, the
indenture trustee, with the consent of the Debtor, the litigation
trustee, and a majority in aggregate amount of the Noteholders,
requested that the Court enter an order (i) approving the trust
agreement amendment, and (ii) confirming that the trust agreement
amendment does not affect any of the security interests in any
collateral under the collateral documents and the indenture or any
other applicable law.

Pursuant to the litigation trust agreement, the indenture, and
certain related security and collateral documents, the Indenture
Trustee (in its various capacities) can only exercise certain
remedies for the benefit of the Noteholders after it is directed in
writing by the litigation trustee.  For example, under the
indenture, the indenture trustee cannot take any action with
respect to any of the Noteholders' collateral that is stock pledged
to the indenture trustee for the benefit of the Noteholders
pursuant to the other security and collateral agreements until it
receives written instructions from the litigation trustee.

The litigation trust currently has no operating funds, and is
unlikely to bring additional litigation on its own behalf.

On Oct. 31, 2014, the litigation trustee notified the Noteholders
and the Litigation Trust that it will resign upon the earlier of an
order of the Court approving the amendment to the Litigation Trust
Agreement, or eighty days from the date of the resignation letter.


RESTORGENEX CORP: Posts $14.4 Million Net Loss in 2014
------------------------------------------------------
Restorgenex Corporation filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$14.4 million on $0 of revenues for the year ended Dec. 31, 2014,
compared to a net loss of $2.46 million on $0 of revenues in 2013.
Restorgenex previously incurred a net loss of $6.85 million in
2012.

As of Dec. 31, 2014, Restorgenex had $42.8 million in total assets,
$4.61 million in total liabilities and $38.2 million in
stockholders' equity.

The Company's financial position at the end of 2014 improved
significantly compared to the end of 2013, as a result of the
private placement the Company completed during 2014.  The Company's
working capital, as of Dec. 31, 2014 totaled $21.8 million,
including $21.9 million in cash and cash equivalents, compared to a
negative working capital $(5.88 million), including $255,000 in
cash and cash equivalents, as of Dec. 31, 2013.

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

                        http://is.gd/ZJtg6i

                         About RestorGenex

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


REVEL AC: Milstein-Goldbarg Joint Venture to Offer $88MM for Asset
------------------------------------------------------------------
A joint venture between developers Howard Milstein and Carl
Goldberg has reached an "interim agreement" with tenants, under
which the developers would purchase the Revel property and honor
obligations to leaseholders, a court filing says.

Citing attorneys for the restaurants and other tenants of the
failed resort, Reuben Kramer at Press of Atlantic City reports that
the Group is prepared to put down $88 million cash for the
property.

According to Press of Atlantic City, the tenants fear potential
buyer Glenn Straub's Polo North Country Club Inc. will take over
the property and boot them from the premises.

Revel attorneys said in court documents that the Company still
plans to ask the Bankruptcy Court's approval of an $82 million sale
to Mr. Straub.

The Associated Press states that the deadline for the Company to
complete its Chapter 11 bankruptcy case is April 30, 2015.
According to The AP, the Company said it needs more time to solicit
support for and execute an exit plan from bankruptcy.  The Company
said in court documents that it has diligently worked with Polo
North and is now working towards finalizing a sale to Polo North
under an amended sale agreement.

                          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.


RICEBRAN TECHNOLOGIES: Adjusted EBITDA Reconciliation
-----------------------------------------------------
RiceBran Technologies posted its "Adjusted EBITDA" for the years
ended Dec. 31, 2014, and 2013 to its Web site.  Adjusted EBITDA is
a non-GAAP financial measure.  A copy of the posted information,
which includes a reconciliation of this non-GAAP financial measure
to the comparable GAAP financial measure, is available at:

                        http://is.gd/H5yNnl

                           About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

RiceBran Technologies reported a net loss of $17.6 million on
$35.05 million of revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $11.1 million on $37.7 million of
revenues for the year ended Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $46.6 million in total
assets, $29.9 million in total liabilities, $3.94 million in
redeemable noncontrolling interest in Nutra SA, and $12.7 million
in total equity attributable to the Company's shareholders.

BDO USA, LLP, in Phoenix, Arizona, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations
resulting in an accumulated deficit of $219 million at Dec. 31,
2013.  This factor among other things, raises substantial doubt
about its ability to continue as a going concern.


RIGHTSCORP INC: HJ & Associates Expresses Going Concern Doubt
-------------------------------------------------------------
Rightscorp, Inc., filed with the U.S. Securities and Exchange
Commission on March 10, 2015, its annual report on Form 10-K for
the year ended Dec. 31, 2014.

The Company reported a net loss of $2.85 million on $931,000 of
revenue for the year ended Dec. 31, 2014, compared to a net loss of
$2.04 million on $324,000 of revenue in the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $2.11 million
in total assets, $3.04 million in total liabilities, and total
stockholders' deficit of $923,000.

HJ Associates & Consultants, LLP, expressed substantial doubt about
the Company's ability to continue as a going concern, citing that
the Company does not generate sufficient revenue to sustain
operations and has negative cash flows from operations.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/gAm6eA
                          
Rightscorp, Inc., operates as a technology company that has a
patent-pending proprietary method for collecting payments from
illegal downloaders of copyrighted content through notifications
sent to their Internet service providers (ISPs).  The company's
technology system monitors peer-to-peer file sharing networks and
sends through email to ISPs notifications of copyright infringement
by the ISPs' customers with date, time, copyright title, and other
specific technology identifiers worldwide.  It primarily serves
copyright holders.  The company was founded in 2011 and is
headquartered in Santa Monica, California.


RIVERWALK JACKSONVILLE: Plan Confirmation Hearing Set for May 28
----------------------------------------------------------------
U.S. Bankruptcy Judge Laurel M. Isicoff will convene a hearing on
May 28, 2015, at 10:00 a.m., to consider the confirmation of
Riverwalk Jacksonville Development, LLC's Plan of Reorganization.

The Court on March 18 approved the Disclosure Statement as
containing adequate information regarding the amended plan.

The Court also set these deadlines in relation to the confirmation
of the Plan:

April 18:                   The proponent's deadline for serving
                            the order, Disclosure Statement,
                            Amended Plan, and ballot deadline for
                            objections to claims.

May 7:                      Deadline for fee applications.

May 14:                     Proponent's deadline for serving       

                            notice of fee applications.

                            Deadline for objections to
                            confirmation.

N/A:                        Deadline for filing ballots accepting
                            or rejecting amended plan.

May 22:                     Proponent's deadline for filing
                            proponent's report and confirmation
                            affidavit.

                            Deadline for individual Debtor to file

                            a certificate for confirmation
                            regarding payment of domestic support
                            obligations and filing of required tax

                            returns.

As reported in the TCR on Jan. 5, 2015, major secured creditor
Sabadell United Bank, National Association lodged an objection to
the approval of the Disclosure Statement, stating that the
Disclosure Statement contains no information regarding the terms of
an actual deal reached with the (undisclosed) buyer of the Wyndham
hotel property.  Sabadell holds a secured claim for $3.88 million
as of the Petition Date.

According to the Disclosure Statement, to fund the Plan, the Debtor
contemplates a transaction which will generate sufficient funds on
the Effective Date, to either pay all Allowed Claims in full and to
pay all Allowed Claims in full with the exception
of Sabadell and U.S. Century, whose debts will be cured on the
Effective Date.  The transaction will be sufficient as well to
generate funds sufficient to satisfy approved administrative
expenses on the Effective Date.

The payments under the Plan will result from the transaction with
the new owner of the Wyndham Hotel property.

The owner of the Wyndam Property located at the center of the RJD
Properties (the "doughnut hole") recently published a "Call to
Bid" on the purchase of the 322-room Wyndam hotel and Wyndam
Property, for Sept. 18, 2014.  The Call to Bid notice also
provided that a redevelopment opportunity was available by
assembling surrounding parcels (i.e., the RJD Properties) for a
mixed use project.  The Debtor has been actively engaging in
discussions with all of the serious interested parties to the
proposed Wyndam transaction. Indeed, certain of the prospective
purchasers of the Wyndam property have sought out the Debtor. As
of this writing, the Wyndham Property owners have finally settled
on a purchaser.  The Wyndham Property owners and the purchaser are
negotiating a contract for sale and purchase of the Wyndham
Property.  The purchaser is simultaneously discussing a transaction
with RJD.  It is reasonably anticipated that the purchaser/RJD
Transaction will be the basis for the Distributions contemplated by
this Plan of Reorganization. It is anticipated
that, by the time of the Disclosure Statement hearing, the
relevant elements of a completed Transaction will be disclosable,
subject to certain confidentiality provisions.

The classification and treatment of claims under the Plan are:

A. Class 1 (Allowed Secured Claim of Duval County Tax Collector)
   will be paid in full on the Effective Date, and the Debtor
   reserves the right to seek reimbursement of all or a portion
   of the payment from Landry's.

B. Class 2 (Allowed Secured Claim of JEA) has set off this claim
   against the deposit, and therefore this claim already has been
   satisfied in full.

C. Class 3 (Allowed Secured Claim of Sabadell) will be paid in
   full on the Effective Date; or the Debtor will cure the
   default on the Sabadell Mortgage.

D. Class 4 (Allowed Secured Claim of U.S. Century) will be paid
   in full on the Effective Date; or the Debtor will cure the
   default on the Mortgage.

E. Class 5 (Allowed Priority Claim of the Florida Department of
   Revenue) will be paid in full on the Effective Date.

F. Class 6 (Allowed Priority Claim of Internal Revenue Service)
   will be paid in full on the Effective Date.

G. Class 7 (Allowed Unsecured Claim of CHLN, Inc.) will be paid
   in full on the Effective Date.

H. Class 8 (Allowed General Unsecured Claims) will be paid in
   full on the Effective Date.

I. Class 9 (Allowed Unsecured Claims of RJD Members) will be
   waived under the Plan.

J. Class 10 (Equity Holders) will be unaffected by this Plan.

A copy of the Disclosure Statement dated Nov. 11, 2014, is
available for free at

    http://bankrupt.com/misc/RIVERWALKJACKSONVILLE_65_ds.pdf

              About Riverwalk Jacksonville Development

Riverwalk Jacksonville Development, LLC, owns four parcel of real
property located in areas surrounding the Wyndham Hotel and
Convention Center. The properties comprise approximately 10.4
acres and constitute prime downtown commercial space. The
occupants of the area are a Chart House restaurant, various office
building and parking amenities.

Three of the four properties are encumbered to Sabadell and U.S.
Century Bank. There is, in fact, substantial equity in all of the
properties.

Riverwalk Jacksonville Development filed a Chapter 11 bankruptcy
(Bankr. S.D. Fla. Case No. 14-19672) on April 28, 2014, in Miami.
The Debtor estimated assets of at least $10 million and debts of at
least $1 million.  Geoffrey S. Aaronson, Esq., at Aaronson Schantz
P.A. serves as the Debtor's counsel.  Judge Laurel M Isicoff
oversees the case.

To fund the Plan, the Debtor contemplates a transaction which will
generate sufficient funds on the Effective Date, to either pay all
allowed claims in full or to pay all allowed claims in full with
the exception of Sabadell and U.S. Century, whose debts will be
cured on the Effective Date.  The transaction will be sufficient as
well to generate funds sufficient to satisfy approved
administrative expenses on the Effective Date.



ROCK CREEK: Cherry Bekaert Expresses Going Concern Doubt
--------------------------------------------------------
Rock Creek Pharmaceuticals, Inc., filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K for the year
ended Dec. 31, 2014.

Cherry Bekaert LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
suffered recurring losses from operations and has a net working
capital deficiency with negative stockholders' equity at Dec. 31,
2014.

The Company reported a net loss of $38.5 million on $nil of net
sales for the year ended Dec. 31, 2014, compared with a net loss of
$32.8 million on $nil of net sales in the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $8.92 million
in total assets, $19.8 million in total liabilities, and a
stockholders' deficit of $10.8 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/cKsXUV
                          
Rock Creek in recent years has engaged primarily in the sale of
nutraceutical dietary supplements and related cosmetic products,
and in pursuing ongoing research and development by its
subsidiary, RCP Development, of related dietary supplements and
pharmaceutical products.

The Company reported a net loss of $10.04 million on $nil of net
sales for the three months ended Sept. 30, 2014, compared with a
net loss of $3.37 million on $nil of net sales for the same period

during the prior year.

The Company's balance sheet at Sept. 30, 2014, showed $5.25 million

in total assets, $10.9 million in total liabilities, and a
stockholders' deficit of $5.67 million.


ROSVOLD ENTERPRISES: Ch. 11 Case Dismissed; Closes Campus Pizza
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Minnesota has
dismissed Rosvold Enterprises, Inc.'s Chapter 11 bankruptcy case,
prompting the Company to close its Campus Pizza & Pasta restaurant
on March 27, 2015, court documents say.

Clare Kennedy at Minneapolis/St. Paul Business Journal reports that
the Court granted on March 19, 2015, a request by the landlord,
Stadium Village Mall LLC, to remove the automatic stay and allow it
to evict the pizzeria.

Jim Rosvold, a member of the family who has owned the restaurant,
was unsure what may happen to the restaurant space, Business
Journal relates.  According to the report, Mr. Rosvold blamed the
restaurant's collapse on economic fallout from construction of the
Green Line, which became operational in June 2014.

The restaurant posted on its Facebook page that it will be shutting
down its social media pages in a few days.

Headquartered in Minneapolis, Minnesota, Rosvold Enterprises, Inc.,
dba Campus Pizza & Pasta, has been in operation for 55 years in the
Stadium Village neighborhood at the U of M campus.  The Company
filed for Chapter 11 bankruptcy protection (Bankr. D. Minn. Case
No. 14-42422) on June 5, 2014.  Steven C. Opheim, Esq., at Dudley
And Smith serves as the Company's bankruptcy counsel.


SAFINA MBAZIRA: U.S. Bank Loses Mortgage Lien Due to Technicality
-----------------------------------------------------------------
Camisha Simmons at Law.com reports that the U.S. Bankruptcy Court
for the District of Massachusetts has determined that U.S. Bank
lost its mortgage in the Safina Mbazira bankruptcy due to a faulty
acknowledgment appended to the mortgage document.  

The Debtor, Law.com recalls, bought real property in 2005 using two
separate loans totaling $660,000 from Fremont Investment & Loan.
The report says that as security for the loans, the Debtor granted
a first mortgage and second mortgage to Mortgage Electronic
Registration Systems, Inc., as nominee for the Lender.

According to Law.com, the First Mortgage was assigned three years
later to U.S. Bank as trustee related to J.P. Morgan Mortgage
Acquisition Corp. 2005-FRE1 Asset Backed Pass-Through Certificates,
Series 2005-FRE1.  

Law.com says that over two months after the bankruptcy case
commenced, the Debtor initiated litigation to declare the First
Mortgage invalid and the security interest avoidable because, among
other things, the acknowledgment appended to the First Mortgage
erroneously left off the Debtor's name, as mortgagor.  

The Court, Law.com relates, determined that the acknowledgment
appended to the First Mortgage was materially defective due to the
missing name of the Debtor, and a mortgage recorded with a faulty
acknowledgment does not provide "notice" of the mortgage to bona
fide purchasers and other third parties.  The First Mortgage was
then voidable by the Debtor, the report states.

The First Mortgage, in excess of $500,000, was voided by the Court,
according to Law.com.  The Bank lost its mortgage lien and the
Debtor gained the $500,000 value in the Property that can't be
touched by creditors of the bankruptcy estate, the report adds.

Safina Mbazira filed for Chapter 11 bankruptcy protection (Bankr.
D. Mass. Case No. 13-16586) on Nov. 12, 2013.


SEADRILL LTD: Bank Debt Trades at 21% Off
-----------------------------------------
Participations in a syndicated loan under Seadrill Ltd is a
borrower traded in the secondary market at 79.02 cents-on-the-
dollar during the week ended Friday, April 3, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.61
percentage points from the previous week, The Journal relates.
Seadrill Ltd pays 300 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 17, 2021.  The bank debt
carries Moody's B2 and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 265 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



SEARS HOLDINGS: Moves to Raise $2.5-Bil. by Selling Real Estate
---------------------------------------------------------------
Angela Chen, writing for The Wall Street Journal, reported that
Sears Holdings Corp. moved to raise fresh cash by selling some of
its top properties to an affiliated real-estate trust and leasing
them back, a financial step that will let shareholders including
Chief Executive Edward S. Lampert buy valuable company real
estate.

According to the report, the struggling Hoffman Estates, Ill.,
retailer plans to raise more than $2.5 billion by selling 254
properties, most of them occupied by Sears or Kmart stores.  The
step would help reassure suppliers that have been rattled by the
company's string of losses and are seeking faster payment to keep
shipping goods.

                           About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

For the year ended Jan. 31, 2015, the Company reported a net loss
attributable to Holdings' shareholders of $1.68 billion compared to
a net loss attributable to Holdings' shareholders of $1.36 billion
for the year ended Feb. 1, 2014.  As of Jan. 31, 2015, the Company
had $13.20 billion in total assets, $14.15 billion in total
liabilities and a $945 million total deficit.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to 'Caa1' from 'B3'.  
The rating outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SHIRLEY MCCLURE: Court Pegs Counsel's Equity in 9 Properties
------------------------------------------------------------
Bankruptcy Judge Geraldine Mund issued a memorandum dated April 2,
finding the the fair market value of nine properties owned by
debtor Shirley Foose McClure, the amount of senior liens on those
properties, and the equity available to Barrett S. Litt, the
debtor's counsel during her 1992 bankruptcy case.  A copy of the
Memorandum is available at http://is.gd/NHk9BYfrom Leagle.com.

The case is, In re Shirley Foose McClure, Case No. 13-10386 (Bankr.
C.D. Cal.).


SILVER INVESTMENTS: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Silver Investments, LLC
        23945 Calabasas Road, Suite 101
        Calabasas, CA 91302

Case No.: 15-11156

Chapter 11 Petition Date: April 3, 2015

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Hon. Victoria S. Kaufman

Debtor's Counsel: Matthew Abbasi, Esq.
                  ABBASI LAW CORPORATION
                  8889 West Olympic Blvd., Suite 240
                  Beverly Hills, CA 90211
                  Tel: 310-358-9341
                  Fax: 888-709-5448
                  Email: matthew@malawgroup.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by George Shakiban, manager.

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


SIMON WORLDWIDE: Reports $7 Million Net Loss in 2014
----------------------------------------------------
Simon Worldwide, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$6.99 million on $0 of revenue for the year ended Dec. 31, 2014,
compared to a net loss of $3.63 million on $0 of revenue for the
year ended Dec. 31, 2013.

Simon Worldwide previously reported a net loss of $1.52 million in
2012 and a net loss of $1.97 million in 2011.

As of Dec. 31, 2014, the Company had $1.34 million in total assets,
$167,000 in total liabilities, all current, and $1.17 million in
total stockholders' equity.

"The lack of any operating revenue has had and will continue to
have a substantial adverse impact on the Company's cash position.
The Company incurred losses in 2014 and continues to incur losses
in 2015 for the general and administrative expenses incurred to
manage the affairs of the Company.  Inasmuch as the Company no
longer generates operating income, the source of current and future
working capital is expected to be cash on hand, proceeds from the
sale of its remaining long-term investment, and a short-term
funding commitment from its largest shareholder.  Management
believes it has sufficient capital resources and liquidity to
operate the Company for at least one year," the Company said in the
report.

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

                        http://is.gd/4hEZB3

                       About Simon Worldwide

Based in Los Angeles, Simon Worldwide, Inc. (OTC: SWWI) no longer
has any operating business.  Prior to August 2001, the Company
operated as a multi-national full-service promotional marketing
company, specializing in the design and development of high-impact
promotional products and sales promotions.  At Dec. 31, 2009,
the Company held an investment in Yucaipa AEC Associates, LLC, a
limited liability company that is controlled by the Yucaipa
Companies, a Los Angeles, California based investment firm.
Yucaipa AEC in turn principally held an investment in the common
stock of Source Interlink Companies, a direct-to-retail magazine
distribution and fulfillment company in North America, and a
provider of magazine information and front-end management services
for retailers and a publisher of approximately 75 magazine titles.
Yucaipa AEC held this investment in Source until April 28, 2009,
when Source filed a pre-packaged plan of reorganization under
Chapter 11 of the U.S. Bankruptcy Code.


SKYLINE MANOR: Baird Holm OK'd to Litigate on Contingent Fee Bas
----------------------------------------------------------------
The U.S. Bankruptcy Court authorized Ron Ross, the Chapter 11
Trustee for Skyline Manor, Inc., to employ Baird Holm LLP to
undertake certain litigation on a contingent fee basis.

The Court approved the application subject to:

   1. the order is not a determination that the services are
necessary; and

   2. the order does not allow fees.

The person or entity employed under the order will file a fee
application in accordance with the Bankruptcy Code and Federal
Rules of Bankruptcy Procedures.

The trustee, in his motion, stated that Baird Holm serves as his
counsel, on an hourly basis, to assist with the various legal
matters arising in the case.

Baird Holm has agreed to be compensated on a contingent fee basis
as:

   a. 30% of all funds recovered (net of out of pocket expenses)
before "litigation" commences;

   b. 40% of all funds recovered (net of out of pocket expenses)
after litigation commences and through trial and post-judgment
collections, unless an appeal is filed.  The 40% fee shall apply to
funds recovered in connection with any settlements reached at any
time after litigation commences except in the instance of an
appeal, as described below; and

   c. 45% of all funds recovered (net of out of pocket expenses) if
an appeal from a final judgment is filed (regardless of whether
such an appeal is filed by a defendant or the Trustee), including
funds recovered in connection with settlements during the pendency
of the appeal or thereafter.

                       About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor disclosed $19.9 million in assets and $13.7 million in
liabilities as of the Chapter 11 filing.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.


SOLAR POWER: Incurs $5.19 Million Net Loss in 2014
--------------------------------------------------
Solar Power Inc. filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $5.19
million on $91.6 million of net sales for the year ended Dec. 31,
2014, compared to a net loss of $32.2 million on $42.6 million of
net sales in 2013.  The Company previously incurred a net loss of
$25.4 million in 2012.

As of Dec. 31, 2014, the Company had $588 million in total assets,
$326 million in total liabilities, and $262 million in total
stockholders' equity.

As of Dec. 31, 2014, the Company had $157 million in cash and cash
equivalents, $8.9 million of bank deposits with maturities over
three months, $27.4 million of short-term investments, and $22.7
million in accounts receivable.  The Company's working capital
increased from negative $36.6 million as of Dec. 31, 2013, to
positive $129 million as of Dec. 31, 2014.

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

                       http://is.gd/cs8Y92

                         About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility ("SEF") developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.


SPANISH BROADCASTING: Posts $20 Million Net Loss in 2014
--------------------------------------------------------
Spanish Broadcasting System, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $20.0 million on $146 million of net revenue for the year
ended Dec. 31, 2014, compared with a net loss of $88.6 million on
$154 million of net revenue in 2013.

As of Dec. 31, 2014, the Company had $452 million in total assets,
$526 million in total liabilities, and a $74.2 million total
stockholders' deficit.

For the quarter ended Dec. 31, 2014, the Company reported a net
loss of $5.96 million on $36.3 million of net revenue compared with
a net loss of $87.2 million on $37.5 million of net revenue for the
same period in 2013.

"During the fourth quarter, we made continued progress in
strengthening our content and executing our plan to strengthen our
multi-media offerings," commented Raúl Alarcon, Jr., Chairman and
CEO.  "Our AIRE Radio Networks platform continued to expand its
reach, content offerings and advertising client base according to
our roll-out strategy and we further strengthened our digital
platform and capabilities.  Our radio stations have also continued
to deliver consistently strong ratings across the nation's largest
Hispanic media markets.  Going forward, we remain focused on
expanding our audience shares and delivering compelling
multi-platform advertising opportunities that connect brands with
the rapidly growing Hispanic population."

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

                         http://is.gd/yTBvYz

                     About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
System, Inc. -- http://www.spanishbroadcasting.com/-- owns and
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  The rating outlook is stable.
"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.


SPENDSMART NETWORKS: Incurs $12.2 Million Net Loss in 2014
----------------------------------------------------------
SpendSmart Networks, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$12.2 million on $4.03 million of total revenues for the year ended
Dec. 31, 2014, compared to a net loss of $14.09 million on $0 of
total revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $10.02 million in total
assets, $2.65 million in total liabilities and $7.36 million in
total stockholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has recurring net
losses since inception and has yet to establish a profitable
operation.  These factors among others raise substantial doubt
about the ability of the Company to continue as a going concern,
according to the regulatory filing.

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

                        http://is.gd/5pgww3

                     About SpendSmart Networks

SpendSmart Networks, Inc., provides proprietary loyalty systems
and a suite of digital engagement and marketing services that help
local merchants build relationships with consumers and drive
revenues.  These services are implemented and supported by a vast
network of certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing, mobile commerce
and financial tools, such as prepaid card and reward systems.  We
enter into licensing agreements for our proprietary loyalty
marketing solution with "Certified Masterminds" which sell and
support the technology in their respective markets.  The Company's
products aim to make Consumers' dollars go further when they spend
it with merchants in the SpendSmart network of merchants, as they
receive exclusive deals, earn rewards and ultimately build a
connection with their favorite merchants.


SPRINT INDUSTRIAL: S&P Revises Outlook to Neg. & Affirms 'B' CCR
----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Houston-based specialty equipment rental company Sprint Industrial
Holdings LLC to negative from stable.  S&P also affirmed its 'B'
corporate credit rating on the company.

In addition, S&P is affirming its 'B+' issue-level rating on the
company's first-lien term loan.  The recovery rating on this debt
remains '2', indicating expectations of substantial (70% to 90%; in
the low end of the range) recovery in the event of a payment
default.  At the same time, S&P is affirming its 'CCC+' rating on
the second-lien term loan.  The recovery rating on this debt
remains '6', indicating expectations of negligible (0% to 10%)
recovery in a default.

"We revised the outlook to negative because we believe Sprint's
leverage is likely to remain in excess of 6x over the next 12
months," said Standard & Poor's credit analyst Terence Lin.  The
company used debt to fund elevated capital spending and an
acquisition during 2014 and operating activities were weaker than
we expected.

Sprint rents liquid and solid storage containers and technical
safety equipment, and provides related services to refineries,
chemical companies, and oil and gas field service companies
primarily in the Gulf Coast region.  Over 70% of Sprint's 2014
revenues came from storage tank rentals and related services.
Pricing pressures and loss of customers resulted in
weaker-than-expected performance in 2014.  S&P expects operating
performance to modestly improve in 2015 as the company grows its
safety equipment rentals business and opens new branches in
higher-demand regions.  Sprint operates in a highly fragmented
industry and has a limited geographic focus that exposes it to
regional, industry, and economic volatility.  In addition, Sprint's
limited scale makes the company especially vulnerable to small
shifts in demand.

The negative outlook reflects the possibility of a downgrade if
operating performance does not improve and S&P expects debt
leverage to remain above 6x for a sustained period.

S&P could lower the rating if operating performance fails to
improve, resulting in leverage sustained above 6x.  S&P could also
lower the rating if it determines liquidity to be "less than
adequate," which could occur if availability under the revolver
declines further due to more capex than we expect, or if headroom
under the springing covenant decreases below 10%.

S&P could revise the outlook to stable if Sprint improves its
credit metrics to total debt to EBITDA under 6x through better
operating performance and debt reduction and S&P expects it to
generate modestly positive free cash flow.



SQUARETWO FINANCIAL: Moody's Lowers Corp. Family Rating to B3
-------------------------------------------------------------
Moody's Investors Service downgraded SquareTwo Financial
Corporation's ("Square Two") Corporate Family and Senior Secured
ratings to B3, ratings are under review for further downgrade.

Issuer: SquareTwo Financial Corporation

  -- Corporate Family Rating Downgraded from B2 to B3 rating
     placed on review for downgrade

  -- Senior Secured Downgraded from B2 to B3 rating placed on
     review for downgrade

The downgrade reflects weakened profitability and leverage as a
result of reduced supply of charged-off debt and elevated pricing.
These conditions have negatively impacted SquareTwo's profitability
and debt coverage for more than a year. Purchased debt supply
declined drastically beginning in the fourth quarter of 2013. The
lower available supply of charged-off debt increased pricing.
SquareTwo's purchase price to face value increased from 7.3% in
2012 to 9.1% in 2013 and 10.4% in 2014. Return on investment for
debt purchases has experienced a downward trend as a result.

SquareTwo's ratings reflect the company's above-average regulatory
risk given its focus on charged-off debt collections, concentration
sources of purchased debt, weak capital levels and dependence on
secured funding. The ratings also consider SquareTwo's position as
one of the largest US debt collectors and its extensive track
record in the fragmented charged-off credit card collections
industry.

The notable decline in charged-off consumer debt sales by financial
institutions is a result of significant regulatory uncertainty as
the Consumer Financial Protection Burerau ("CFPB"), the industry's
primary federal regulator, considers rules in areas such as
information accuracy and debt collector communication methods. The
Office of the Comptroller of the Currency also issued a bulletin in
August 2014 to its regulated banks that may be suppliers of
charged-off debt providing guidance on similar topics as the CFPB
in addition to addressing the importance that banks have
appropriate due-diligence and oversight of debt sale arrangements.
SquareTwo has responded to this by bringing some of its collections
activities in-house from its existing closed loop network of
attorneys. This increases near-term execution risk but likely
positions the company favorably compared to its competitors in the
long term.

Moody's review will assess SquareTwo's ability to improve
profitability and build capital, particularly in light of increased
prices of charged-off debt in the industry.

The review for SquareTwo could return to stable if the company
commits to a cost structure that leads to improved profitability
and leverage despite current pricing well in advance of the April
2017 maturity of the senior secured bonds.

Ratings could be downgraded further if profitability and leverage
fail to improve from constrained supply conditions or if regulatory
developments have significant negative effects on cash flow and
profitability.

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

SquareTwo is a purchaser of charged off debt receivables which
pursues collections via in-house staff and a network of franchises.
SquareTwo is headquartered in Denver, CO.


STATE FISH: June 23 Scheduled for Case Management Status Hearing
----------------------------------------------------------------
The U.S. Bankruptcy Judge Sandra R. Klein will convene a hearing on
June 23, 2015, at
9:00 p.m., to consider State Fish Co., Inc.'s case management
status hearing.

                          About State Fish

State Fish Co., Inc., was founded in 1932 and began as a small
local wholesale fish buyer in California.  Under the leadership of
Sam DeLuca, State Fish expanded from a small fresh fish company to
an internationally-known import and export company operating its
own processing and cold store facilities near the Port of Los
Angeles. Calpack Foods, LLC, a wholly owned subsidiary, was formed
in April 2012 to produce high quality food and beverage products.

State Fish and Calpack Foods filed voluntary Chapter 11 bankruptcy
petitions (C.D. Cal. Lead Case No. 15-11084) on Jan. 26, 2015,
amid
a family dispute and liquidity woes brought by declining fish
catches.  Sisters Vanessa DeLuca, Roseann DeLuca and Janet
Esposito, backed the bankruptcy filing while John DeLuca has
opposed the Chapter 11 effort.

The Hon. Sandra R. Klein presides over the jointly administered
cases.  Amir Gamliel, Esq., and Alan D Smith, Esq., at Perkins
Coie
LLP, serve as the Debtors' counsel.  George Blanco, at Avant
Advisory Group, acts as chief restructuring officer.

State Fish disclosed $34,868,772 in assets and $10,084,671 in
liabilities as of the bankruptcy filing.

The U.S. Trustee has appointed three entities -- Cedar Cold
Services LLC, Star-Box Inc., and Queen City Seafood Sales -- to
serve on the official committee of unsecured creditors.  The panel
has tapped Levene, Neale, Bender, Yoo & Brill LLP to serve as its
general counsel.

                            *   *   *            

John DeLuca, shareholder of State Fish Co. Inc., is asking the asks
the Bankruptcy Court to either dismiss the Debtor's Chapter 11
case, abstain from exercising jurisdiction in the case, or appoint
a Chapter 11 trustee to oversee the Debtor's case.


SUPERCONDUCTOR TECHNOLOGIES: Incurred Losses Since Inception
------------------------------------------------------------
Superconductor Technologies Inc. filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K for the year
ended Dec. 31, 2014.

Marcum LLP expressed substantial doubt about the Company's ability
to continue as a going concern, citing that the Company has
incurred significant net losses since its inception, has an
accumulated deficit of $282 million and working capital deficit as
of Dec. 31, 2014, and expects to incur substantial additional
losses and costs to sustain operations.

The Company reported a net loss of $8.25 million on $632,000 of
total net revenues for the year ended Dec. 31, 2014, compared to a
net loss of $12.2 million on $1.71 million of total net revenues in
the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $10.8 million
in total assets, $6.8 million in total liabilities, and total
stockholders' equity of $4 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/ER73gj
                          
Austin, Tex.-based Superconductor Technologies Inc. (Nasdaq: SCON)
operates in a single business segment, the research, development,
manufacture and marketing of high performance products used in
cellular base stations to maximize the performance of wireless
telecommunications networks by improving the quality of uplink
signals from mobile wireless devices.


SUPERTEL HOSPITALITY: KPMG Expresses Going Concern Doubt
--------------------------------------------------------
Supertel Hospitality, Inc., filed with the U.S. Securities and
Exchange Commission on March 23, 2015, its annual report on Form
10-K for the year ended Dec. 31, 2014.

KPMG LLP expressed substantial doubt about the Company's ability to
continue as a going concern, citing that the Company has suffered
recurring losses from operations and has a substantial amount of
debt maturing in 2015 for which the Company does not have committed
funding sources.

The Company reported a net loss of $16.3 million on $57.4 million
of revenues for the year ended Dec. 31, 2014, compared with a net
loss of $1.35 million on $53.8 million of revenues in the prior
year.

The Company's balance sheet at Dec. 31, 2014, showed $146 million
in total assets, $120 million in total liabilities, $7.66 million
in redeemable preferred stock and total stockholders' equity of
$19.09 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/PRVTJq
                          
                 About Supertel Hospitality, Inc.

Headquartered in Norfolk, Nebraska, Supertel Hospitality, Inc. --
http://www.supertelinc.com-- is a self-administered real estate
investment trust that specializes in the ownership of select-
service hotels.  The company currently owns 75 hotels comprising
6,474 rooms in 21 states . Supertel's hotels are franchised by a
number of the industry's most well-regarded brand families,
including Hilton, Choice and Wyndham.

The Company reported a net loss of $10.46 million on $16.06 million

of total revenue for the three months ended June 30, 2014, compared

with a net income of $2.38 million on $14.79 million of total
revenue
for the same period in 2013.

The Company's balance sheet at June 30, 2014, showed $163 million
in total assets, $131 million in total liabilities, and
stockholders' equity of $24.3 million.


TARGET CANADA: To Close Remaining 133 Retail Stores on April 12
---------------------------------------------------------------
Target Canada Co. on April 1 disclosed that it will complete its
inventory liquidation efforts and close the last of its 133
Canadian retail stores to the public on April 12.  In addition,
Target Canada’s three distribution centers and Mississauga
headquarters have been closed.  Liquidator-led fixture sales will
continue in some locations.  The company has been winding down its
operations since January 15, 2015 when it obtained an Initial Order
for protection from the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act ("CCAA").

"We are pleased with the results of the liquidation sales to date
and the speed at which we have moved through the wind-down process.
We want to once again thank all Target Canada team members for
their hard work and great adaptability through this process," said
Aaron Alt, Target Canada CEO.  "The court-approved real estate
sales process is underway and is expected to be completed by the
end of June 2015."

                        About Target Canada

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

Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was
appointed as monitor of the business and financial affairs of the
Target Canada Entities.  The Ontario Court has appointed Alvarez &
Marsal Canada Inc. as monitor in Target Canada et al.'s Companies'
Creditors Arrangement Act proceeding, and Koskie Minsky LLP as
representative counsel of all Target employees in the proceedings.


TELKONET INC: Incurs $95,000 Net Loss in 2014
---------------------------------------------
Telkonet, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss attributable
to common stockholders of $95,400 on $14.8 million of total net
revenues for the year ended Dec. 31, 2014, compared to a net loss
attributable to common stockholders of $4.9 million on $13.9
million of total net revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, Telkonet had $10.8 million in total assets,
$4.98 million in total liabilities, $1.3 million in redeemable
preferred stock, and $4.49 million in total stockholders' equity.

BDO USA, LLP, in Milwaukee, Wisconsin, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has a history of
losses from operations, a working capital deficiency, and an
accumulated deficit of $121,906,017 that 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/LKjfOS

                          About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.


TERVITA CORP: Bank Debt Trades at 9% Off
----------------------------------------
Participations in a syndicated loan under which Tervita Corp is a
borrower traded in the secondary market at 91.50 cents-on-the-
dollar during the week ended Friday, April 3, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.93
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 265 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.



TEXOMA PEANUT: Court Approves Revisions to DIP Agreement
--------------------------------------------------------
The Hon. Tom R. Cornish of the U.S. Bankruptcy Court for the
Eastern District of Oklahoma granted the request of Texoma Peanut
Company and its debtor-affiliates to amend the senior secured
super-priority debtor-in-possession credit agreement with Wells
Fargo Bank N.A.

Under the DIP amendment, the $25,000 fee owed to lender is
approved, and the amendment fee will be paid by the Debtors out of
DIP facility advances.  The Debtors are authorized and directed to
pay the amendment fee without the Debtors or the lender having to
file any further motion or application with the Court.  Payment of
the amendment fee may be effectuated directly by the Lender and
such payment will constitute an advance under the DIP facility.

As reported in the Troubled Company Reporter on March 12, 2015, the
amended loan agreement extends the maturity of the loan to the
earlier of the occurrence of an "event of default," or April 16,
2015.

The agreement also lowers the amount that Wells Fargo is committed
to fund the company to be the aggregate outstanding principal
amount of the loans on the amendment effective date (an amount
approximately equal to $16,061,660 as of Feb. 19, 2015), according
to court filings.

Under the amended agreement, Texoma is prohibited from making
debits to or withdrawals from its collection account.  The company
will have no access to the collection account or to funds deposited
in the account.   

A copy of the document detailing the latest amendments to the loan
agreement is available for free at http://is.gd/RkxGr8

                         About Texoma Peanut

Texoma Peanut Company was incorporated by Clint Williams in 1961
as
a Southern Oklahoma bulk peanut drying, handling and storage
operation, buying and storing peanuts for shellers.  In 1968, The
Clint Williams Company was established as a sheller and processor
of peanuts for both seed and edible markets.  Although The Clint
Williams Company was later merged into TPC, the company continues
to do its processed peanut business under the "Clint Williams
Company" name which is the name known best in the domestic and
international peanut industry.  TPC and its subsidiaries own 15
buying points and storage facilities -- 4 in Oklahoma, 9 in Texas,
and 2 in Mississippi.  TPC owns 99% of Clint Williams Company-
Western Division LLC and 100% of Clint-Co Peanut Company.

TPC and two subsidiaries sought Chapter 11 bankruptcy protection
(Bankr. E.D. Okla. Lead Case No. 14-81334) in Okmulgee, Oklahoma,
on Nov. 6, 2014.  The cases are assigned to Judge Tom R. Cornish.
The judge has granted joint administration of the Chapter 11
cases.

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due March 6, 2015.  Creditors who are
governmental entities have until May 9, 2015, to file claims.

The Debtors have tapped Crowe & Dunlevy as counsel and Dixon
Hughes
Goodman as bankruptcy accountants.

The Debtors say they have $49 million in assets.  Secured debt
includes $3.45 million owed to Wells Fargo Bank, N.A., and $2.33
million owed to Wells Fargo Equipment Finance.   Wells Fargo Bank
is represented by William L. Wallander, Esq., at VINSON & ELKINS
LLP, in Dallas, Texas.

As of the Petition Date, an official committee of unsecured
creditors has not yet been appointed in the Cases.

The Debtors sought bankruptcy for protection with plans to sell
all
of their core business assets and, thereafter, file a joint plan
of
reorganization.  The Debtors expect that by Nov. 24, 2014, they
will have obtained a court order approving the bid procedures and
scheduling an auction date and final sale hearing.  The Debtors
intend to consummate the sale on or prior to Dec. 31, 2014.

The U.S. Trustee overseeing Texoma Peanut Co.'s bankruptcy case
said that it wasn't able to appoint a committee of unsecured
creditors.


TRIPLE POINT: Moody's Raises Corp Family Rating to Caa1
-------------------------------------------------------
Moody's Investors Service upgraded Triple Point Group Holdings,
Inc.'s debt ratings, including the Corporate Family rating to Caa1
from Caa2, the Probability of Default rating to Caa1-PD from
Caa2-PD and the senior secured 1st lien revolving credit facility
due 2018 and term loan due 2020 ratings to B3 from Caa1. The senior
secured 2nd lien term loan due 2021 rating of Caa3 was affirmed.
The ratings outlook is stable.

According to the company, on March 31, 2015, Atlas Topco, Inc., an
indirect subsidiary of ION Investment Group made a $30 million cash
equity investment in Triple Point. The proceeds were used to prepay
a portion of the 1st lien term loan at par.

Upgrades:

  -- Corporate Family Rating, Upgraded to Caa1 from Caa2

  -- Probability of Default Rating, Upgraded to Caa1-PD from
     Caa2-PD

  -- Senior Secured 1st Lien Bank Credit Facility, Upgraded to
     B3(LGD3) from Caa1(LGD3)

Affirmations:

  -- Senior Secured 2nd Lien Bank Credit Facility, Affirmed
     Caa3(LGD5)

Outlook:

  -- Outlook Remains Stable

The upgrade of the CFR to Caa1 reflects the infusion of equity by
ION and $30 million reduction of debt, leading Moody's to expect
reduced financial leverage and to anticipate ION's further support
of the business. These factors diminish near term default risk.

The Caa1 CFR reflects the company's very high leverage, operational
challenges, and the risks associated with a concentrated customer
base. Moody's expects revenue declines in 2015 due to challenging
market conditions for Triple Point's customers and the recent
appreciation of the US Dollar, resulting in limited free cash flow
and debt to EBITDA (after Moody's standard adjustments) of about 9
times in 2015. The company's liquidity profile is considered
adequate for the next 12 to 18 months, given Moody's expectations
for free cash flow to debt of at least 2%, more than $20 million of
cash throughout 2015 and access to the unused $40 million revolving
credit facility due 2018. Revolver availability could be
effectively limited if debt to EBITDA (as defined in the credit
agreement) is above the 7.25 times covenant, which is triggered if
utilization exceeds 25% of the facility.

The stable ratings outlook reflects Moody's expectations for
revenues of over $100 million and EBITDA of about $35 million in
2015. The ratings could be lowered if 1) revenues decline more than
anticipated; 2) customer retention rates decline; or 3) liquidity
deteriorates. The ratings could be upgraded if 1) there is
meaningful debt reduction; 2) Moody's anticipates sustainable and
profitable revenue growth; 3) EBITDA less capital expenditures to
interest expense is sustained above 1.5 times; and 4) Moody's
expects Triple Point will maintain financial policies aimed at
reducing and sustaining lower financial leverage.

The principal methodology used in this rating 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.

Triple Point provides procurement, processing, risk assessment and
decision support software solutions to companies and trading firms
which deal with various commodities and related derivatives,
primarily whose business operations are exposed to price or
regulatory risks related to physical commodities. ION acquired the
company in a leveraged buyout in 2013. Moody's expects revenue for
the fiscal year ended December 2014 was approximately $113 million.


TWCC HOLDING: Moody's Lowers CFR to B2, Outlook Stable
------------------------------------------------------
Moody's Investors Service downgraded TWCC Holding Corp.'s ("TWCC":
dba The Weather Channel Companies) Corporate Family rating to B2
from B1 and the Probability of Default rating to B2-PD from B1-PD.
Further, the rating on the company's first lien senior secured
credit facility was lowered to B1 from Ba3 (LGD3) and the rating on
the second lien senior secured term loan was lowered to Caa1 from
B3 (LGD5). The rating outlook is stable.

Downgrades:

Issuer: TWCC Holding Corp.

  -- Corporate Family Rating, Downgraded to B2 from B1

  -- Probability of Default Rating, Downgraded to B2-PD from
     B1-PD

  -- Senior Secured Bank Credit Facility (Local Currency),
     Downgraded to B1, LGD3 from Ba3, LGD3

  -- Senior Secured Bank Credit Facility (Local Currency),
     Downgraded to Caa1, LGD5 from B3, LGD5

Outlook Actions:

  -- Outlook, Remains Stable

The downgrade reflects Moody's view that the company's credit
metrics are unlikely to improve to levels expected for the prior B1
CFR and continued weak operating performance and high levels of
absolute debt will result in leverage being sustained above 7.0x
for the next few years at least. Moody's notes that TWCC has not
been successful in reducing debt-to-EBITDA as Moody's originally
expected, largely due to weak operating trends, as evidenced by a
5% decline in reported EBITDA in 2014. While Moody's recognize that
a significant portion of the decline in EBITDA is attributable to
the loss of DIRECTV's carriage and television advertising in
approximately 20 million homes in the first quarter, Moody's
believe that The Weather Channel is not being a "must have" network
or bundle of networks like some other larger cable networks, and
therefore Moody's believe remains susceptible to the risk of
receiving less affiliate revenue or potentially being dropped,
perhaps permanently, by other cable, DBS and telco companies.
Verizon Communications recently allowed its agreement with The
Weather Channel to expire, essentially dropping the network from
its lineup of cable channels and replacing it with the AccuWeather
Channel in the same channel position. Moody's estimate that the
revenue impact from the loss of Verizon's carriage will be in the
2%-4% range (of total consolidated revenues) and while the two
companies could eventually resolve the disagreement over affiliate
fees, there have been no indications of progress being made in that
regard. Even though the impact on revenues and EBITDA from the loss
of Verizon's carriage is moderate, the development underscores
broader trends and operating risks for smaller networks that have
no sports or entertainment programming with high audience ratings
and which could gradually lose their renegotiation power or be
dropped altogether from cable companies' bundled packages.

Moody's believes that with additional content owners entering the
OTT video space and crowding the marketplace for audience
attention, competition for affiliate fees, advertising dollars and
viewership will further intensify and make it challenging for
stand-alone and smaller cable networks to maintain their subscriber
base and highly remunerative affiliate fee revenue streams.
Accordingly, Moody's believe that broader operating challenges due
to ongoing changes in content distribution will make it difficult
for TWCC to significantly improve operating results from current
levels, absent material increases in contributions from its other
businesses. The downgrade is also prompted by a significant decline
in the company's 2014 free cash flow, as a result of higher working
capital, taxes and capital expenditures, along with an increase
interest costs associated with the $625 million second lien term
loan, which was put in place in mid-2013 to fund the $608 million
shareholder distribution.

TWCC's B2 CFR reflects its high debt-to-EBITDA of 7.5x (as of
12/31/2014 and incorporating Moody's standard adjustments), which
Moody's expect will decline to the low 7.0x range in the near-term
as a result of the mandatory 50% free cash flow sweep and an
improvement in operating performance in Q1-2015 as the effect from
the loss of DIRECTV carriage rolls off (though the Verizon blackout
tempers the rebound in revenues somewhat). Good revenue visibility,
positive free cash flow generation and high profit margins, support
TWCC's highly leveraged capital structure but the rating remains
constrained by the partial private equity ownership and high event
risk stemming from past propensity for debt funded dividends.
Though TWCC is partially owned by NBCU, it has not exercised any
influence to maintain a stronger balance sheet at TWCC, and Moody's
do not believe that it is likely to in the future. TWCC's B2 rating
therefore does not reflect any material benefit from the NBCU
ownership. The rating also reflects the company's small scale,
significant revenue concentration in providing weather related
services, and cyclical volatility associated with the company's
advertising revenue. The company's strong operating margins,
predictable cash flows generated from the distribution of the
company's most valuable property, The Weather Channel Network, to
over 90 million homes, and its leading brand position as the most
recognizable source for weather on the Internet (weather.com)
partially mitigate these concerns. Further, acquisitions of Weather
Central (August 2012) and Weather Underground (July 2012) have
expanded its professional offering and expanded the company's
digital footprint, which account for an increasing proportion of
the company's revenues.

The stable outlook is based on Moody's current expectation that
debt-to-EBITDA leverage will decline to the low 7.0x range and the
company will generate more than $60 million of annual free cash
flow. The stable outlook is also supported by TWCC's good liquidity
position, including significant cushion under its financial
covenant.

What Could Change the Rating - Down:

The ratings could be downgraded if top line growth were to decline
materially because of an unanticipated secular revenue downturn or
increased competition or additional carriage disputes. Ratings
could also be downgraded if the company pursued expansions into
other content verticals or businesses, or made debt-financed
acquisitions and shareholder payments, which negatively impacted
margins and cash flow generation, or resulted in debt-to-EBITDA
sustained over 7.5x.

What Could Change the Rating - Up:

Ratings could be upgraded if the company reduces debt with cash
flow or asset sales proceeds such that debt-to-EBITDA declines to
and is sustained below 6.0x. A material increase in ownership by
NBCU could have positive implications.

The principal methodology used in these ratings was Global
Broadcast and Advertising Related Industries published in May 2012.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.


UNITED BANCSHARES: Needs More Time to File 2014 Form 10-K
---------------------------------------------------------
United Bancshares, Inc. notified the Securities and Exchange
Commission it was unable to file its annual report for the period
ended Dec. 31, 2014, in a timely manner because the Company is
still in the process of completing its financial statements.

                      About United Bancshares

Located in Philadelphia, Pennsylvania, United Bancshares, Inc., is
an African American controlled and managed bank holding company
for United Bank of Philadelphia, a commercial bank chartered in
1992 by the Commonwealth of Pennsylvania, Department of Banking.

United Bancshares reported a net loss of $669,000 on $2.89 million
of total interest income for the year ended Dec. 31, 2013, as
compared with a net loss of $1.01 million on $3.08 million of
total interest income in 2012.

McGladrey LLP, in Blue Bell, Pennsylvania, 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 regulatory capital amounts and ratios are below
the required levels stipulated with Consent Orders between the
Company and its regulators under the regulatory framework for
prompt corrective action.  Failure to meet the capital
requirements exposes the Company to regulatory sanctions that may
include restrictions on operations and growth, mandatory asset
disposition, and seizure of the Company.  These matters raise
substantial doubt about the ability of the Company to continue as
a going concern.


VALEANT PHARMACEUTICALS: S&P Raises Secured Debt Rating to 'BB+'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating on
Montreal-based Valeant Pharmaceuticals International Inc.'s secured
debt to 'BB+' from 'BB' and revised the recovery rating on the debt
to '1' from '2'.  The '1' recovery rating indicates expectations of
very high (90% to 100%) recovery in the event of a payment default.
At the same time, S&P removed the issue-level rating from
CreditWatch, where it placed it with positive implications on Feb.
23, 2015.

"The upgrade reflects improved recovery prospects for secured
lenders following the close of the Salix Pharmaceuticals Ltd.
acquisition, as the secured debt is now a smaller proportion of the
total debt and given that about 95% of the company's EBITDA will be
at guaranteeing entities [compared with our previous assumption of
about 70% following the Bausch & Lomb transaction]," said Standard
& Poor's credit analyst David Kaplan.

S&P's corporate credit rating of 'BB-' is unchanged.  S&P's stable
outlook reflects its expectation for stable performance from
Valeant's existing businesses, and that the company will manage its
aggressive acquisition-driven growth strategy such that leverage
will generally remain between 4x and 5x after adjusting for
acquired EBITDA.

The "satisfactory" business risk is still characterized by
substantial scale; extensive product, therapeutic, and geographic
diversification; and payer and product category diversification.
S&P expects leverage of about 6x for 2015 will improve to about
4.4x for 2016.  S&P estimates the ratio of funds from operations
(FFO) to debt will be about 12% for 2015, and 16% for 2016.  The
metrics for 2016 are consistent with the "aggressive" financial
risk profile.

RATINGS LIST

Valeant Pharmaceuticals International Inc.
Corporate Credit Rating                         BB-/Stable/--

Upgraded, Off Watch; Recovery Rating Revised
Valeant Pharmaceuticals International Inc.

                                     To          From
Secured
$1 Bil. Term Loan A Due 2020        BB+         BB/Watch Pos
   Recovery Rating                   1           2H
$4.550 Bil. Term Loan B Due 2022    BB+         BB/Watch Pos
   Recovery Rating                   1           2H



VANTAGE DRILLING: 2017 Bank Debt Trades at 38% Off
--------------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 62.11
cents-on-the-dollar during the week ended Friday, April 3, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.39 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 265 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



VANTAGE DRILLING: 2019 Bank Debt Trades at 44% Off
--------------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 56.50
cents-on-the-dollar during the week ended Friday, April 3, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.39 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 237 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



VERITEQ CORP: PositiveID Corp Holds 5.5% Stake as of March 31
-------------------------------------------------------------
PositiveID Corporation disclosed in an amended Schedule 13G filed
with the Securities and Exchange Commission that as of March 31,
2015, it beneficially owned 1,679,787 shares of common stock of
VeriTeQ Corporation, which represents 5.5% (based on 30,802,114
shares of common stock outstanding as of March 31, 2015).  A copy
of the regulatory filing is available for free at:

                         http://is.gd/JRxw6G

                            About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ --
http://www.veriteqcorp.com/-- offers the world's first FDA
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.

Veriteq Corporation reported a net loss of $15.07 million on
$18,000 of sales for the year ended Dec. 31, 2013, as compared
with a net loss of $1.60 million on $0 of sales for the year ended
Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $6.77 million in total
assets, $14 million in total liabilities, and a $7.18 million
stockholders' deficit.

EisnerAmper LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has incurred recurring net losses, and at Dec. 31,
2013, had negative working capital and a stockholders' deficit.
These events and conditions raise substantial doubt about the
Company's ability to continue as a going concern.


VISANT CORP: Moody's Affirms B3 Corp. Family Rating
---------------------------------------------------
Moody's Investors Service lowered Visant Corporation's speculative
grade liquidity rating to SGL-3 from SGL-2 and revised its outlook
to negative from stable. These actions are due to the uncertainty
about how the company will address the significant debt maturities
that are coming due in a little more than two years given the still
high leverage and moderate free cash flow generation. All other
ratings, including the B3 Corporate Family Rating, are affirmed.

"We think that the looming debt maturity will pressure the
company's ability to fully implement growth strategies around the
Scholastic sales business," said Kevin Cassidy, Senior Credit
Officer at Moody's Investors Service. The company's operating
performance over the past several quarters has been modest and
Moody's does not anticipate a significant improvement in the
near-term. Credit metrics are soft with pro forma debt/EBITDA close
to 7.0 times. Some improvement is expected, but the rating agency
feels that debt/EBITDA is likely to remain over 6 times for the
next year or two as debt repayments and earnings growth will be
modest.

Rating lowered:

  -- Speculative-grade liquidity rating to SGL-3 from SGL-2;

Ratings affirmed:

  -- Corporate Family Rating at B3;

  -- Probability of Default Rating at B3-PD;

  -- $750 million senior unsecured notes due October 2017 at Caa2
     (LGD 5);

  -- $775 million senior secured term loan due 2021 (with July
     2017 acceleration clause) at B1 (LGD 2); and

  -- $105 million revolving credit facility due September 2019 at
     B1 (LGD 2).

Visant's B3 Corporate Family Rating (CFR) reflects its high
leverage on a pro forma basis of almost 7.0 times debt/EBITDA and
revenue pressure from the slow erosion of demand for school
affinity products. Factors supporting the rating include the
company's good market position in the Scholastic and Memory Book
segments and cost vigilance that support strong margins and
adequate cash flow, which Visant is utilizing to invest and expand
its Scholastic and Memory Book sales business.

The negative outlook reflects the uncertainty about how the company
will address the significant debt maturities that are coming due in
a little more than two years given the still high leverage and
moderate free cash flow generation.

Failure to refinance the upcoming debt maturities in the near term
could cause a downgrade in the CFR and liquidity ratings. A
downgrade could also occur if a larger than expected earnings
decline results in leverage increasing for a prolonged period and
lower cash flow. Key credit metrics driving a potential downgrade
would be debt/EBITDA sustained over 7 times.

An upgrade is unlikely in the near term given the approaching
maturity date of over $700 million of debt. Declining revenue and
earnings trends and soft credit metrics also make an upgrade in the
near term unlikely. Over the longer term, the ratings could be
upgraded if debt/EBITDA is sustained under 6 times, revenue
stabilizes and earnings and cash flow improve.

The principal methodology used in this rating was the Global
Consumer Durables published in September 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.

Visant, headquartered in Armonk, New York, is a leading marketing
and publishing services enterprise primarily servicing the school
affinity, edjuctaional and trade publishingh and packaging segments
and educational publishing markets. The company has 3 segments:
Scholastic (mostly class rings and other graduation products),
Memory Book (mostly school yearbooks) and Marketing and Publishing
and Packaging Services (mostly book covers). The company reported
revenue of approximately $830 million for the twelve months ended
January 3, 2015. Visant's financial sponsors include affiliates of
Kohlberg Kravis Roberts & Co. L.P. ("KKR") and DLJ Merchant Banking
Partners III, L.P.


VISUALANT INC: Amends Demand Promissory Notes with CEO
------------------------------------------------------
Visualant, Inc., disclosed in a document filed with the Securities
and Exchange Commission that it entered into an Amendment 2 to
Demand Promissory Note dated July 17, 2014, for $300,000 with
Ronald Erickson, the Company's chief executive officer and/or
entities in which Mr. Erickson has a beneficial interest.  In
addition, on March 31, 2015, the Company entered into Amendment 3
to Demand Promissory Note dated March 31, 2014 for $300,000 with
Mr. Erickson.  The Amendment 2 and Amendment 3 to Demand Promissory
Notes for $300,000 provide for interest of 3% per annum and are due
June 30, 2015, and provide for a second lien on company assets if
not repaid by June 30, 2015, or converted into convertible
debentures or equity on terms acceptable to the Holder.

The Company has a $200,000 note payable to Umpqua Bank, which
currently matures on Dec. 31, 2015, and provides for interest at
3.25% per year.  Related to this Umpqua Note Payable, the Company
entered into a demand promissory note for $200,000 on Jan. 10,
2014, with Ronald P. Erickson.  This demand promissory note will be
effective only in case of a default by the Company under the Umpqua
Note Payable.

In addition, Mr. Erickson also has advanced to the Company
approximately $459,000 and has unreimbursed expenses and
compensation of approximately $229,000.

                        About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $1 million on $7.98 million of
revenue for the year ended Sept. 30, 2014, compared to a net loss
of $6.60 million on $8.57 million of revenue for the year ended
Sept. 30, 2013.   

The Company's balance sheet at Dec. 31, 2014, showed $3.22 million
in total assets, $9.47 million in total liabilities, and a
stockholders' deficit of $6.24 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2014.  The independent auditors noted that
the Company has sustained a net loss from operations and has an
accumulated deficit since inception.  These factors, according to
the auditors, raise substantial doubt about the Company's ability
to continue as a going concern.


VOTORANTIM CEMENT: Moody's Withdraws Ba1 Credit Ratings
-------------------------------------------------------
Moody's Investors Service has withdrawn the Corporate Family
Rating, the Probability of Default Rating, and the Senior Secured
Bank Credit Facility rating of Votorantim Cement North America Inc.
("VCNA"). The ratings have been withdrawn because VCNA will no
longer be providing Moody's with adequate information to maintain
the ratings.

Issuer: Votorantim Cement North America Inc.

  -- Outlook, changed to rating withdrawn from stable

  -- Corporate Family Rating, withdrawn, previously rated Ba1

  -- Probability of Default Rating, withdrawn, previously Ba1-PD

  -- Senior Secured Bank Credit Facility rating, withdrawn,
     previously Ba1 (LGD3)

Moody's has withdrawn the rating because it believes it has
insufficient or otherwise inadequate information to support the
maintenance of the rating.


WEST COAST GROWERS: Seeks Authority to Use Cash Collateral
----------------------------------------------------------
West Coast Growers, Inc., seeks permission from the U.S. Bankruptcy
Court for the Eastern District of California, Fresno Division, to
use cash collateral in the form of cash on hand, money on deposit,
accounts receivable, and raisin inventory on hand, and to grant
adequate protection to secured creditors asserting an interest in
the cash collateral.

The Debtor owed raisin growers $15,006,382 and $37,938,995 to
Central Valley Community Bank.  The Debtor has $0 cash on deposit,
$1,183,610 in accounts receivable, and $7,627,784 in raisin
inventory.  The Debtor also expects income to be generated through
May 2, 2015, to total $2.4 million.

The Debtor proposes adequate protection to growers by continuing to
process and sell raisins to create cash to pay growers, and to pay
all excess cash to growers.  The Debtor proposes adequate
protection to the bank in the form of senior lien against the cash
collateral held by the growers.

The bank objects to the Debtor's proposed cash collateral budget,
saying it is not accurate in several very material aspects.  The
bank points out that the Debtor's budget purports to show a net
available for grower payables of $200,009; however, the cost of the
goods is actually $320,754.  If the Debtor continues to operate the
plant as proposed, not only will it lose money on every container
shipped but the grower payables will actually increase by $120,745
in the first week alone, the bank said.

The bank is represented by:

          Kurt F. Vote, Esq.
          WANGER JONES HELSLEY PC
          265 E. River Park Circle, Suite 310
          Fresno, CA 93720
          Tel: (559) 233-4800
          Fax: (559) 233-9330
          Email: kvote@wjhattorneys.com

                      About West Coast Growers

West Coast Growers, Inc., a Kerman, California-based processor and
distributor of California raisins, sought Chapter 11 bankruptcy
protection (Bankr. E.D. Cal. Case No. 15-11079) on March 20, 2015,
in Fresno, California.  The case is assigned to Judge W. Richard
Lee.

Related entity Salwasser, Inc. (the 100% shareholder of WCG) also
sought bankruptcy protection on March 20, 2015 (Case No.
15-11080).
Charlotte Ellen Salwasser filed a Chapter 11 petition (Case No.
15-10705) on Feb. 26, 2015.  Ms. Salwasser an husband George
Salwasser are the principals and 50% shareholders of Salwasser,
Inc.  Mr. Salwasser is the president of WCG, and Ms. Salwasser is
the vice president and secretary of WCG.

West Coast Growers disclosed total assets of $10.1 million and
total liabilities of $59.6 million.

Hagop T. Bedoyan, Esq., Jacob L. Eaton, Esq., at Lisa A. Holder,
Esq., at Klein, Denatale, Goldner, Cooper, Rosenlieb & Kimball,
LLP, serve as West Coast Growers' attorneys.  Peter L. Fear, Esq.,
at Fear Law Group, P.C., represents Salwasser as counsel.


WHITTEN FOUNDATION: Section 341(a) Meeting Scheduled for April 30
-----------------------------------------------------------------
There will be a meeting of creditors of Whitten Foundation on April
30, 2015, at 2:30 p.m. at 341 Meeting Room, Lafayette, Room 341,
214 Jefferson St.

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

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

                     About Whitten Foundation

Whitten Foundation owns and operates two apartment complexes
located in the State of Louisiana.

Whitten Foundation sought Chapter 11 bankruptcy protection (Bankr.
W.D. La. Case No. 15-20237) in Lake Charles, Louisiana, on
March 31, 2015.

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

According to the docket, the official schedules of assets and
liabilities, as well as the statement of financial affairs are due
April 14, 2015.  The Debtor's Chapter 11 plan and disclosure
statement are due July 29, 2015.

Judge Robert Summerhays presides over the case.

The Debtor has tapped Gerald J. Casey, Esq., in Lake Charles,
Louisiana, as its counsel.



WILLBROS GROUP: S&P Affirms 'B-' CCR, Off Watch Negative
--------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Houston, Texas-based engineering and construction
(E&C) company Willbros Group Inc.  At the same time, S&P' removed
the rating from CreditWatch negative, where it placed it on March
18, 2015.  The rating outlook is negative.

"The rating affirmation reflects the company's successful filing of
its 10-K annual report with the SEC, the sale of some assets and
the use of proceeds to repay debt, as well as the amendment from
its term-loan lender, giving the company a covenant holiday for
2015 and the first quarter of 2016," said Standard & Poor's credit
analyst Michael Durand.  "We expect EBITDA to improve by year-end
2015 after a weak first half of the year."

The rating on Willbros incorporates the inherent cyclicality of the
E&C services sector in which Willbros participates.  The operating
losses associated with certain of the company's projects
demonstrate the inherent risks in the sector.  Specifically, these
risks include the sector's competitive nature, the economic and
political difficulties to searching for and extracting energy
sources, and the potential for cost overruns in the execution of
fixed-price contracts.

Willbros serves the oil, gas, refining, petrochemical, and power
industries.  It provides engineering, procurement and construction
(either individually or as an integrated engineering, procurement,
and construction service offering); turnarounds (refining process
upgrades or renewals); maintenance; facilities development; and
operations services.

The rating outlook is negative, indicating at least one-in-three
chance S&P could lower the rating.  Although S&P expects a weak
first half of the year, it also expects EBITDA to improve by
year-end 2015.  The outlook reflects the risks of improving project
and operating performance this year without further execution
challenges.



WPCS INTERNATIONAL: Reduces Number of Directors to Four
-------------------------------------------------------
As part of an ongoing corporate restructuring, the Board of
Directors of WPCS International Incorporated decided to decrease
the size of the Board from six directors to four directors,
according to a Form  8-K filing with the Securities and Exchange
Commission.

Accordingly, Neil Hebenton resigned from the Board on March 30,
2015.  Mr. Hebenton expressed no disagreements with the Company at
the time of his resignation.  The Company had previously announced
the resignation of Kevin Coyle from the Board.  Following these
resignations, the Board reduced the size of the Board to four
directors.

At the time of their resignations, Mr. Coyle served as the Chairman
of the Audit Committee of the Board, and Mr. Hebenton served as the
Chairman of the Nominating Committee of the Board. Effective as of
March 30, 2015, Charles Benton was appointed the Chairman of the
Audit Committee, Norm Dumbroff was appointed the Chairman of the
Nominating Committee, and Edward Gildea was appointed the Chairman
of the Executive Committee of the Board, replacing Mr. Benton.

               About WPCS International Incorporated

WPCS -- http://www.wpcs.com/-- operates in two business segments
including: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a Bitcoin trading
platform.

As reported by the TCR on Feb. 7, 2014, WPCS appointed Marcum LLP
as its new independent registered public accounting firm.
CohnReznick LLP resigned on Dec. 20, 2013.

WPCS International incurred a net loss attributable to common
shareholders of $11.2 million for the year ended April 30, 2014,
as compared with a net loss attributable to common shareholders of
$6.91 million for the year ended April 30, 2013.

As of Jan. 31, 2015, the Company had $14.8 million in total assets,
$14.8 million in total liabilities and a $36,000 total deficit.

Marcum LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the
year ended April 30, 2014.  The independent auditing firm
noted that the Company has incurred significant losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


YARWAY CORP: April 8 Hearing on Bradley E. Scher as Director
------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on April 8, 2015,
to consider approval of: (i) individual appointed to serve as the
director and officer of Reorganized Yarway Corporation; (ii) the
Asbestos Personal Injury Trustee; and (iii) initial members of
Asbestos Personal Injury Trust Advisory Committee.

Bradley E. Scher has been appointed to serve as the sole director
and officer of Reorganized Yarway.

The Plan of Reorganization proposed by the Debtor and Tyco
International plc provides that the individual proposed to serve as
the initial Asbestos Personal Injury Trustee and the initial
members of the Asbestos Personal Injury Trust Advisory Committee
will be nominated no later than 10 days prior to the confirmation
hearing.

In this relation, Hon. Helen E. Freedman (Ret.) has been nominated
as the initial Asbestos Personal Injury Trustee.  Five individuals
had also been nominated as the initial members of the Asbestos
Personal Injury Trust Advisory Committee:

         John A. Baden, IV, Esq.
         Joseph W. Belluck, Esq.
         Lisa N. Busch, Esq.
         John C. Cooney, Esq.
         Barry Julian, Esq.

The Court will also consider the confirmation of Plan at a hearing
scheduled for April 8, at 10:00 a.m.  The Disclosure Statement
explaining the Plan was approved on Jan. 27.

                 About Yarway Corporation

Yarway Corporation sought Chapter 11 protection (Bankr. D. Del.
Case No. 13-11025) on April 22, 2013, to deal with claims arising
from asbestos containing products it allegedly sold as early as the
1920s.

Yarway was founded in 1908 by Robert Yarnall and Bernard Waring as
the Simplex Engineering Company and originally manufactured pipe
clamps, steam traps, valves and controls.  Based in Pennsylvania,
Yarway was a privately-owned company until 1986 when KeyStone
International, Inc. bought equity in the company.  Yarway became a
unit of Tyco International Ltd. when Tyco purchased KeyStone in
1997.

Yarway's asbestos-related liabilities derive from Yarway's (i)
purported use of asbestos-containing gaskets and packing,
manufactured by others, in its production of steam valves and traps
from the 1920s to 1970s, and (ii) alleged manufacture of expansion
joint packing that was allegedly made up of a compound of Teflon
and asbestos from the 1940s to the 1970s.

Over the past five years, about 10,021 new asbestos claims have
been asserted against Yarway, including 1,014 in Yarway's 2013
fiscal year ending March 31, 2013.

The Debtor estimated assets and debts in excess of $100 million as
of the Chapter 11 filing.

Attorneys at Cole, Schotz P.C. and Sidley Austin LLP serve as the
Debtor's counsel in the Chapter 11 case.  Logan and Co. is the
claims and notice agent.

On May 6, 2013, the U.S. Trustee for Region 3, appointed an
official committee of asbestos personal injury claimants.  The
Committee tapped Elihu Inselbuch, Esq. at Caplin & Drysdale,
Chartered, as lead bankruptcy counsel.er 11 filing.


YRC WORLDWIDE: Agrees to Swap $17M Notes for 994,689 Shares
-----------------------------------------------------------
YRC Worldwide Inc. disclosed in a document filed with the
Securities and Exchange Commission that it entered into an exchange
agreement with certain holders of the Company's 10% Series B
Convertible Senior Secured Notes due 2015 pursuant to which the
Company agreed to exchange approximately $17.04 million aggregate
principal amount of its Series B Notes and the accrued and unpaid
interest thereon up to maturity of March 31, 2015, for an aggregate
of 994,689 shares of its common stock, par value $0.01 per share.

                        About YRC Worldwide

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

YRC Worldwide reported a net loss attributable to common
shareholders of $85.8 million in 2014, a net loss attributable to
common shareholders of $83.6 million in 2013 and a net loss
attributable to common shareholders of $140.4 million in 2012.

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

                            *    *    *

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

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


[*] 5th Circuit Says Judge Lynn Hughes Abused His Discretion
------------------------------------------------------------
The 5th Circuit Court ruled on April 2, 2015, that Judge Lynn N.
Hughes made a decision that was an abuse of discretion, and vacated
the district orders in favor of Aetna Life Insurance Co. by
prohibiting a defendant from transferring funds.  

Immediately after Judge Hughes' order that "Aetna Life Insurance
Co. will take $8,412,116.01" from the defendants, the receiver for
another defendant filed a "suggestion of bankruptcy".

On April 2, 2015, ERISAclaim.com announced a case special
brainstorming and training program for this development in
managed-care litigation as well as litigation support services to
healthcare providers and healthcare attorneys.

"It is an unprecedented but extraordinary necessity today for
healthcare providers to understand the importance of federal laws
in managed-care litigation, in order to avoid seemingly inevitable
but preventable bankruptcies when a federal judge abused his
discretion or authority," says Dr. Jin Zhou, president of
ERISAclaim.com, a national expert on ERISA appeals and compliance.
"Apparently, a provider in this case has only two options, file for
a bankruptcy or appeal a reversible decision to an appeals court.
One defendant took the first choice, but the second took another
one," explains Dr. Zhou.

ERISAclaim.com's new program demystifies this landmark case by
evaluating and focusing on these key elements, to the extent of the
appellate court order to vacate the District Court Judge Hughes'
orders only relevant in abuse of discretion:

      (i) A court order link to the court website is provided for
          all interested providers and attorneys to completely
          research this important development:  
          http://is.gd/HEPTh3;

     (ii) On Aug. 20, 2014, the district court entered an opinion
          on partial judgment: the court ordered that Aetna Life   
       
          Insurance Co. will take $8,412,116.01 from the          

          defendants;

    (iii) After the district court entered its order granting
          partial judgment, the receiver for Cleveland Imaging     
     
          filed a suggestion of bankruptcy to notify the court of  
        
          Cleveland Imaging's voluntary petition for Chapter 11    
      
          bankruptcy;

     (iv) Meanwhile, 2920 filed a motion asking the district court
         
          to certify its partial judgment as final and appealable  
        
          under Federal Rule of Civil Procedure 54(b) and 28       
   
          U.S.C. Section 1292(b).  The district court denied the   
       
          motions to certify partial judgment for interlocutory    
      
          appeal without explanation two days later;

      (v) The district court also granted Aetna's motion for       
   
          postjudgment discovery in a very brief order that same   
       
          day without explanation;

     (vi) The district court then essentially ordered an asset     
     
          freeze from the bench.  The court ordered that no
          payments be made to Spring Klein until some explanation
          has been made of what they're for, no transfers that are

          not in response to a purchase order or some other
          objective commercial transaction;

    (vii) Fifth Circuit found Judge Hughes abused his discretion
          because the district court did not have authority to
          freeze assets before judgment without following the
          requirements of Rule 65, the decision was an abuse of    
      
          discretion that must be vacated;

   (viii) The 5th Circuit Court orders and concludes that for the  
        
          foregoing reasons, the petition for mandamus relief is   
       
          denied, and the district court's order signed on Nov.    
      
          13, 2014, prohibiting 2920 from transferring funds is    
      
          vacated, as are its orders compelling postjudgment       
   
          discovery -- except to the extent that such discovery is
         
          reasonably necessary to investigate pending claims under

          Rule 26.  

Petitioner, 2920 ER LLC, is represented by Lawrence Duncan
Thompson, Lorance & Thompson, Houston, TX.  Respondent, Aetna, is
represented by John Bruce Shely, Andrews Kurth LLP.

To find out more about PPACA Claims and Appeals Compliance Services
from ERISAclaim.com, visit:

              http://www.erisaclaim.com/products.htm

Located in a Chicago suburb in Illinois, for over 15 years,
ERISAclaim.com is the only ERISA & PPACA consulting, publishing and
website resource for healthcare providers in the US.
ERISAclaim.com offers free webinars, basic and advanced educational
seminars and on-site claims specialist certification programs for
doctors, hospitals and commercial companies, as well as numerous
pending national ERISA class action litigation support.  Dr. Jin
Zhou is regarded as the industry "Godfather of ERISA claims" for
healthcare providers.


[^] Large Companies With Insolvent Balance Sheet
------------------------------------------------
                                               Total
                                              Share-       Total
                                   Total    Holders'     Working
                                  Assets      Equity     Capital
   Company        Ticker            ($MM)       ($MM)       ($MM)
   -------        ------          ------    --------     -------
ABSOLUTE SOFTWRE  ABT CN           138.6       (11.0)       (2.4)
ABSOLUTE SOFTWRE  ALSWF US         138.6       (11.0)       (2.4)
ABSOLUTE SOFTWRE  OU1 GR           138.6       (11.0)       (2.4)
ACCRETIVE HEALTH  ACHI US          510.0       (85.6)      (17.7)
ACCRETIVE HEALTH  6HL GR           510.0       (85.6)      (17.7)
ADVANCED EMISSIO  OXQ1 GR          106.4       (46.1)      (15.3)
ADVANCED EMISSIO  ADES US          106.4       (46.1)      (15.3)
ADVENT SOFTWARE   AXQ GR           434.9       (64.8)     (122.0)
ADVENT SOFTWARE   ADVS US          434.9       (64.8)     (122.0)
AIR CANADA        ACDVF US      10,648.0    (1,133.0)      (59.0)
AIR CANADA        AC CN         10,648.0    (1,133.0)      (59.0)
AIR CANADA        ACEUR EU      10,648.0    (1,133.0)      (59.0)
AIR CANADA        ADH2 TH       10,648.0    (1,133.0)      (59.0)
AIR CANADA        ADH2 GR       10,648.0    (1,133.0)      (59.0)
AK STEEL HLDG     AKS US         4,858.5       (77.0)      900.5
AK STEEL HLDG     AK2 GR         4,858.5       (77.0)      900.5
AK STEEL HLDG     AKS* MM        4,858.5       (77.0)      900.5
AK STEEL HLDG     AK2 TH         4,858.5       (77.0)      900.5
ALLIANCE HEALTHC  AIQ US           500.9      (111.5)       53.5
AMC NETWORKS-A    AMCX US        3,976.6      (147.3)      597.4
AMC NETWORKS-A    9AC GR         3,976.6      (147.3)      597.4
AMC NETWORKS-A    AMCX* MM       3,976.6      (147.3)      597.4
AMER RESTAUR-LP   ICTPU US          33.5        (4.0)       (6.2)
AMYLIN PHARMACEU  AMLN US        1,998.7       (42.4)      263.0
ANGIE'S LIST INC  8AL GR           154.5       (22.2)      (13.3)
ANGIE'S LIST INC  8AL TH           154.5       (22.2)      (13.3)
ANGIE'S LIST INC  ANGI US          154.5       (22.2)      (13.3)
ARRAY BIOPHARMA   AR2 GR           163.6       (13.9)       82.8
ARRAY BIOPHARMA   AR2 TH           163.6       (13.9)       82.8
ARRAY BIOPHARMA   ARRY US          163.6       (13.9)       82.8
AUTOZONE INC      AZ5 QT         7,950.0    (1,468.7)     (709.5)
AUTOZONE INC      AZ5 TH         7,950.0    (1,468.7)     (709.5)
AUTOZONE INC      AZOEUR EU      7,950.0    (1,468.7)     (709.5)
AUTOZONE INC      AZ5 GR         7,950.0    (1,468.7)     (709.5)
AUTOZONE INC      AZO US         7,950.0    (1,468.7)     (709.5)
AVID TECHNOLOGY   AVID US          191.6      (341.1)     (157.2)
BENEFITFOCUS INC  BTF GR           140.0       (42.8)       25.0
BENEFITFOCUS INC  BNFT US          140.0       (42.8)       25.0
BERRY PLASTICS G  BERY US        5,176.0       (93.0)      660.0
BERRY PLASTICS G  BP0 GR         5,176.0       (93.0)      660.0
BRP INC/CA-SUB V  BRPIF US       2,347.9       (26.9)      291.8
BRP INC/CA-SUB V  DOO CN         2,347.9       (26.9)      291.8
BRP INC/CA-SUB V  B15A GR        2,347.9       (26.9)      291.8
BURLINGTON STORE  BURL US        2,624.6       (66.0)       54.4
BURLINGTON STORE  BUI GR         2,624.6       (66.0)       54.4
CABLEVISION SY-A  CVC US         6,765.2    (5,032.0)      180.5
CABLEVISION SY-A  CVY GR         6,765.2    (5,032.0)      180.5
CABLEVISION-W/I   CVC-W US       6,765.2    (5,032.0)      180.5
CABLEVISION-W/I   8441293Q US    6,765.2    (5,032.0)      180.5
CADIZ INC         CDZI US           68.2       (39.7)       14.9
CADIZ INC         2ZC GR            68.2       (39.7)       14.9
CAESARS ENTERTAI  CZR US        23,535.0    (4,742.0)  (14,607.0)
CAESARS ENTERTAI  C08 GR        23,535.0    (4,742.0)  (14,607.0)
CASELLA WASTE     CWST US          661.8        (6.7)       (0.5)
CASELLA WASTE     WA3 GR           661.8        (6.7)       (0.5)
CENTENNIAL COMM   CYCL US        1,480.9      (925.9)      (52.1)
CHOICE HOTELS     CHH US           647.3      (428.8)      151.3
CHOICE HOTELS     CZH GR           647.3      (428.8)      151.3
CIENA CORP        CIEN US        2,056.2       (88.6)      902.8
CIENA CORP        CIE1 TH        2,056.2       (88.6)      902.8
CIENA CORP        CIEN TE        2,056.2       (88.6)      902.8
CIENA CORP        CIE1 GR        2,056.2       (88.6)      902.8
CINCINNATI BELL   CBB US         1,819.7      (648.5)      (73.2)
CINCINNATI BELL   CIB GR         1,819.7      (648.5)      (73.2)
CLEAR CHANNEL-A   CCO US         6,362.4      (140.9)      362.1
CLEAR CHANNEL-A   C7C GR         6,362.4      (140.9)      362.1
CLIFFS NATURAL R  CLF US         3,164.0    (1,734.3)      490.3
CLIFFS NATURAL R  CVA TH         3,164.0    (1,734.3)      490.3
CLIFFS NATURAL R  CLF2EUR EU     3,164.0    (1,734.3)      490.3
CLIFFS NATURAL R  CLF* MM        3,164.0    (1,734.3)      490.3
CLIFFS NATURAL R  CVA GR         3,164.0    (1,734.3)      490.3
COMVERSE INC      CM1 GR           649.6        (2.8)        4.3
COMVERSE INC      CNSI US          649.6        (2.8)        4.3
CONNECTURE INC    CNXR US           85.8       (67.7)      (55.8)
CONNECTURE INC    2U7 GR            85.8       (67.7)      (55.8)
CORCEPT THERA     HTD GR            34.6        (3.4)       16.7
CORCEPT THERA     CORT US           34.6        (3.4)       16.7
CORINDUS VASCULA  CVRS US            0.0        (0.0)       (0.0)
DIRECTV           DIG1 QT       25,459.0    (4,828.0)    1,860.0
DIRECTV           DTV US        25,459.0    (4,828.0)    1,860.0
DIRECTV           DIG1 GR       25,459.0    (4,828.0)    1,860.0
DIRECTV           DTVEUR EU     25,459.0    (4,828.0)    1,860.0
DIRECTV           DTV CI        25,459.0    (4,828.0)    1,860.0
DOMINO'S PIZZA    EZV TH           619.3    (1,219.5)      162.8
DOMINO'S PIZZA    EZV GR           619.3    (1,219.5)      162.8
DOMINO'S PIZZA    DPZ US           619.3    (1,219.5)      162.8
DUN & BRADSTREET  DNB1EUR EU     1,986.2    (1,194.6)     (223.0)
DUN & BRADSTREET  DB5 GR         1,986.2    (1,194.6)     (223.0)
DUN & BRADSTREET  DNB US         1,986.2    (1,194.6)     (223.0)
DURATA THERAPEUT  DTA GR            82.1       (16.1)       11.7
DURATA THERAPEUT  DRTX US           82.1       (16.1)       11.7
DURATA THERAPEUT  DRTXEUR EU        82.1       (16.1)       11.7
EDGEN GROUP INC   EDG US           883.8        (0.8)      409.2
EMPIRE RESORTS I  NYNY US           39.9       (17.1)        3.2
EMPIRE RESORTS I  LHC1 GR           39.9       (17.1)        3.2
ENTELLUS MEDICAL  ENTL US           14.0        (8.0)        4.8
ENTELLUS MEDICAL  29E GR            14.0        (8.0)        4.8
EOS PETRO INC     EOPT US            1.4       (20.5)      (21.7)
EXTENDICARE INC   EXETF US       1,915.3        (2.5)       47.1
EXTENDICARE INC   EXE CN         1,915.3        (2.5)       47.1
FAIRPOINT COMMUN  FONN GR        1,466.0      (600.3)       (5.0)
FAIRPOINT COMMUN  FRP US         1,466.0      (600.3)       (5.0)
FAIRWAY GROUP HO  FGWA GR          372.2       (16.5)       17.9
FAIRWAY GROUP HO  FWM US           372.2       (16.5)       17.9
FERRELLGAS-LP     FEG GR         1,747.0      (128.0)       (6.4)
FERRELLGAS-LP     FGP US         1,747.0      (128.0)       (6.4)
FREESCALE SEMICO  1FS GR         3,275.0    (3,581.0)    1,324.0
FREESCALE SEMICO  1FS TH         3,275.0    (3,581.0)    1,324.0
FREESCALE SEMICO  FSLEUR EU      3,275.0    (3,581.0)    1,324.0
FREESCALE SEMICO  FSL US         3,275.0    (3,581.0)    1,324.0
GAMING AND LEISU  2GL GR         2,564.6      (124.7)       12.7
GAMING AND LEISU  GLPI US        2,564.6      (124.7)       12.7
GARDA WRLD -CL A  GW CN          1,356.8      (243.8)       57.4
GENCORP INC       GCY TH         1,921.6      (170.9)       99.2
GENCORP INC       GCY GR         1,921.6      (170.9)       99.2
GENCORP INC       GY US          1,921.6      (170.9)       99.2
GENTIVA HEALTH    GHT GR         1,225.2      (285.2)      130.0
GENTIVA HEALTH    GTIV US        1,225.2      (285.2)      130.0
GLG PARTNERS INC  GLG US           400.0      (285.6)      156.9
GLG PARTNERS-UTS  GLG/U US         400.0      (285.6)      156.9
GOLD RESERVE INC  GOD GR            28.0       (10.5)        4.9
GOLD RESERVE INC  GRZ CN            28.0       (10.5)        4.9
GOLD RESERVE INC  GDRZF US          28.0       (10.5)        4.9
GOODRICH PETRO    GXR GR           722.1       (15.8)      (79.4)
GOODRICH PETRO    GDP US           722.1       (15.8)      (79.4)
GRAHAM PACKAGING  GRM US         2,947.5      (520.8)      298.5
GYMBOREE CORP/TH  GYMB US        1,284.0      (321.3)       39.5
HCA HOLDINGS INC  2BH GR        31,199.0    (6,498.0)    3,450.0
HCA HOLDINGS INC  HCA US        31,199.0    (6,498.0)    3,450.0
HCA HOLDINGS INC  2BH TH        31,199.0    (6,498.0)    3,450.0
HD SUPPLY HOLDIN  HDS US         6,060.0      (760.0)    1,163.0
HD SUPPLY HOLDIN  5HD GR         6,060.0      (760.0)    1,163.0
HERBALIFE LTD     HLFEUR EU      2,374.9      (334.4)      518.6
HERBALIFE LTD     HOO QT         2,374.9      (334.4)      518.6
HERBALIFE LTD     HOO GR         2,374.9      (334.4)      518.6
HERBALIFE LTD     HLF US         2,374.9      (334.4)      518.6
HOVNANIAN ENT-A   HO3 GR         2,461.4      (130.0)    1,608.3
HOVNANIAN ENT-A   HOV US         2,461.4      (130.0)    1,608.3
HOVNANIAN ENT-B   HOVVB US       2,461.4      (130.0)    1,608.3
HOVNANIAN-A-WI    HOV-W US       2,461.4      (130.0)    1,608.3
HUGHES TELEMATIC  HUTCU US         110.2      (101.6)     (113.8)
IHEARTMEDIA INC   IHRT US       14,040.2    (9,665.2)      815.9
INCYTE CORP       INCY US          830.1       (81.6)      477.7
INCYTE CORP       ICY TH           830.1       (81.6)      477.7
INCYTE CORP       INCYEUR EU       830.1       (81.6)      477.7
INCYTE CORP       ICY GR           830.1       (81.6)      477.7
INFOR US INC      LWSN US        6,778.1      (460.0)     (305.9)
INOVALON HOLDI-A  INOV US          342.6        (8.2)      168.2
INOVALON HOLDI-A  INOVEUR EU       342.6        (8.2)      168.2
INOVALON HOLDI-A  IOV TH           342.6        (8.2)      168.2
INOVALON HOLDI-A  IOV GR           342.6        (8.2)      168.2
IPCS INC          IPCS US          559.2       (33.0)       72.1
ISTA PHARMACEUTI  ISTA US          124.7       (64.8)        2.2
JUST ENERGY GROU  JE US          1,205.7      (539.0)     (119.7)
JUST ENERGY GROU  JE CN          1,205.7      (539.0)     (119.7)
JUST ENERGY GROU  1JE GR         1,205.7      (539.0)     (119.7)
LEAP WIRELESS     LWI TH         4,662.9      (125.1)      346.9
LEAP WIRELESS     LEAP US        4,662.9      (125.1)      346.9
LEAP WIRELESS     LWI GR         4,662.9      (125.1)      346.9
LEE ENTERPRISES   LEE US           809.3      (167.5)      (12.4)
LORILLARD INC     LO US          3,508.0    (2,182.0)    1,051.0
LORILLARD INC     LLV TH         3,508.0    (2,182.0)    1,051.0
LORILLARD INC     LLV GR         3,508.0    (2,182.0)    1,051.0
MANNKIND CORP     MNKD US          394.4       (73.8)     (202.2)
MANNKIND CORP     NNF1 TH          394.4       (73.8)     (202.2)
MANNKIND CORP     NNF1 GR          394.4       (73.8)     (202.2)
MARRIOTT INTL-A   MAR US         6,865.0    (2,200.0)   (1,139.0)
MARRIOTT INTL-A   MAQ QT         6,865.0    (2,200.0)   (1,139.0)
MARRIOTT INTL-A   MAQ TH         6,865.0    (2,200.0)   (1,139.0)
MARRIOTT INTL-A   MAQ GR         6,865.0    (2,200.0)   (1,139.0)
MDC COMM-W/I      MDZ/W CN       1,648.9      (153.6)     (269.3)
MDC PARTNERS-A    MDZ/A CN       1,648.9      (153.6)     (269.3)
MDC PARTNERS-A    MD7A GR        1,648.9      (153.6)     (269.3)
MDC PARTNERS-A    MDCA US        1,648.9      (153.6)     (269.3)
MDC PARTNERS-EXC  MDZ/N CN       1,648.9      (153.6)     (269.3)
MERITOR INC       AID1 GR        2,346.0      (576.0)      268.0
MERITOR INC       MTOR US        2,346.0      (576.0)      268.0
MERRIMACK PHARMA  MP6 GR           158.7      (102.1)       21.0
MERRIMACK PHARMA  MACK US          158.7      (102.1)       21.0
MICHAELS COS INC  MIM GR         2,005.0    (2,111.0)      572.0
MICHAELS COS INC  MIK US         2,005.0    (2,111.0)      572.0
MONEYGRAM INTERN  MGI US         4,642.2      (182.7)       48.5
MORGANS HOTEL GR  M1U GR           551.2      (227.4)       38.5
MORGANS HOTEL GR  MHGC US          551.2      (227.4)       38.5
MOXIAN CHINA INC  MOXC US            4.9        (1.2)       (4.0)
MPG OFFICE TRUST  1052394D US    1,280.0      (437.3)        -
NATIONAL CINEMED  NCMI US          991.4      (208.7)       65.2
NATIONAL CINEMED  XWM GR           991.4      (208.7)       65.2
NAVISTAR INTL     IHR GR         6,785.0    (4,688.0)      844.0
NAVISTAR INTL     IHR TH         6,785.0    (4,688.0)      844.0
NAVISTAR INTL     NAV US         6,785.0    (4,688.0)      844.0
NEFF CORP-CL A    NEFF US          612.1      (343.7)       (1.5)
NEW ENG RLTY-LP   NEN US           177.8       (27.4)        -
NORTHWEST BIO     NBYA GR           58.4       (35.0)      (54.2)
NORTHWEST BIO     NWBO US           58.4       (35.0)      (54.2)
OCATA THERAPEUTI  T2N1 GR            5.7        (2.7)       (0.9)
OCATA THERAPEUTI  OCAT US            5.7        (2.7)       (0.9)
OMEROS CORP       3O8 GR            11.1       (42.7)       (9.3)
OMEROS CORP       OMER US           11.1       (42.7)       (9.3)
OMTHERA PHARMACE  OMTH US           18.3        (8.5)      (12.0)
PALM INC          PALM US        1,007.2        (6.2)      141.7
PATRIOT NATIONAL  PN US            142.1       (28.3)      (30.0)
PBF LOGISTICS LP  11P GR           394.0      (120.3)       21.8
PBF LOGISTICS LP  PBFX US          394.0      (120.3)       21.8
PHILIP MORRIS IN  4I1 GR        35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  PM1 TE        35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  4I1 TH        35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  PM1EUR EU     35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  PM FP         35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  PM US         35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  PM1CHF EU     35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  PMI SW        35,187.0   (11,203.0)      372.0
PHILIP MORRIS IN  4I1 QT        35,187.0   (11,203.0)      372.0
PLAYBOY ENTERP-A  PLA/A US         165.8       (54.4)      (16.9)
PLAYBOY ENTERP-B  PLA US           165.8       (54.4)      (16.9)
PLY GEM HOLDINGS  PG6 GR         1,254.6       (96.7)      204.5
PLY GEM HOLDINGS  PGEM US        1,254.6       (96.7)      204.5
PROTALEX INC      PRTX US            0.8       (10.3)       (0.0)
PROTECTION ONE    PONE US          562.9       (61.8)       (7.6)
PUREBASE CORP     PUBC US            0.0        (0.0)       (0.0)
QUALITY DISTRIBU  QDZ GR           427.8       (31.7)      115.0
QUALITY DISTRIBU  QLTY US          427.8       (31.7)      115.0
QUINTILES TRANSN  QTS GR         3,305.8      (704.0)      674.2
QUINTILES TRANSN  Q US           3,305.8      (704.0)      674.2
RAYONIER ADV      RYQ GR         1,303.9       (62.4)      188.5
RAYONIER ADV      RYAM US        1,303.9       (62.4)      188.5
REGAL ENTERTAI-A  RETA GR        2,539.5      (897.3)     (135.6)
REGAL ENTERTAI-A  RGC* MM        2,539.5      (897.3)     (135.6)
REGAL ENTERTAI-A  RGC US         2,539.5      (897.3)     (135.6)
RENAISSANCE LEA   RLRN US           57.0       (28.2)      (31.4)
RENTPATH INC      PRM US           208.0       (91.7)        3.6
RETROPHIN INC     17R GR           135.5       (37.3)      (70.2)
RETROPHIN INC     RTRX US          135.5       (37.3)      (70.2)
REVLON INC-A      REV US         1,944.1      (644.1)      308.9
REVLON INC-A      RVL1 GR        1,944.1      (644.1)      308.9
RITE AID CORP     RAD US         7,186.0    (1,792.7)    1,895.3
RITE AID CORP     RTA GR         7,186.0    (1,792.7)    1,895.3
RITE AID CORP     RTA TH         7,186.0    (1,792.7)    1,895.3
ROUNDY'S INC      4R1 GR         1,089.7       (66.8)       71.8
ROUNDY'S INC      RNDY US        1,089.7       (66.8)       71.8
RURAL/METRO CORP  RURL US          303.7       (92.1)       72.4
RYERSON HOLDING   7RY TH         1,976.9      (125.9)      739.2
RYERSON HOLDING   7RY GR         1,976.9      (125.9)      739.2
RYERSON HOLDING   RYI US         1,976.9      (125.9)      739.2
SALLY BEAUTY HOL  S7V GR         2,097.0      (255.6)      753.8
SALLY BEAUTY HOL  SBH US         2,097.0      (255.6)      753.8
SBA COMM CORP-A   SBJ GR         7,841.1      (660.8)       (4.2)
SBA COMM CORP-A   SBAC US        7,841.1      (660.8)       (4.2)
SBA COMM CORP-A   SBJ QT         7,841.1      (660.8)       (4.2)
SBA COMM CORP-A   SBACEUR EU     7,841.1      (660.8)       (4.2)
SBA COMM CORP-A   SBJ TH         7,841.1      (660.8)       (4.2)
SEARS HOLDINGS    SEE TH        13,209.0      (945.0)     (213.0)
SEARS HOLDINGS    SEE GR        13,209.0      (945.0)     (213.0)
SEARS HOLDINGS    SHLD US       13,209.0      (945.0)     (213.0)
SECOND SIGHT MED  EYES US            9.6       (19.5)        4.4
SECOND SIGHT MED  EYESEUR EU         9.6       (19.5)        4.4
SECOND SIGHT MED  24P GR             9.6       (19.5)        4.4
SEQUENOM INC      SQNMEUR EU       161.1       (31.2)       65.7
SEQUENOM INC      QNMA GR          161.1       (31.2)       65.7
SEQUENOM INC      QNMA TH          161.1       (31.2)       65.7
SEQUENOM INC      SQNM US          161.1       (31.2)       65.7
SILVER SPRING NE  9SI TH           548.2      (133.8)       78.4
SILVER SPRING NE  9SI GR           548.2      (133.8)       78.4
SILVER SPRING NE  SSNI US          548.2      (133.8)       78.4
SIRIUS XM CANADA  SIICF US         336.0       (91.2)     (159.5)
SIRIUS XM CANADA  XSR CN           336.0       (91.2)     (159.5)
SONIC CORP        SONC US          625.8        (0.3)       13.7
SONIC CORP        SO4 GR           625.8        (0.3)       13.7
SONIC CORP        SONCEUR EU       625.8        (0.3)       13.7
SPORTSMAN'S WARE  SPWH US          270.7       (31.3)       86.4
SPORTSMAN'S WARE  06S GR           270.7       (31.3)       86.4
SUPERVALU INC     SVU US         5,078.0      (647.0)      277.0
SUPERVALU INC     SJ1 TH         5,078.0      (647.0)      277.0
SUPERVALU INC     SJ1 GR         5,078.0      (647.0)      277.0
SYNERGY PHARMACE  SGYP GR          213.3        (5.2)      181.9
SYNERGY PHARMACE  SGYPEUR EU       213.3        (5.2)      181.9
SYNERGY PHARMACE  SGYP US          213.3        (5.2)      181.9
THERAVANCE        HVE GR           521.7      (223.3)      238.4
THERAVANCE        THRX US          521.7      (223.3)      238.4
THRESHOLD PHARMA  THLD US           68.4       (24.0)       40.7
THRESHOLD PHARMA  NZW1 GR           68.4       (24.0)       40.7
TOWN SPORTS INTE  CLUB US          409.8      (118.1)       52.3
TOWN SPORTS INTE  T3D GR           409.8      (118.1)       52.3
TRANSDIGM GROUP   TDG US         6,913.6    (1,464.7)    1,231.3
TRANSDIGM GROUP   T7D GR         6,913.6    (1,464.7)    1,231.3
TRINET GROUP INC  TNET US        2,347.8       (25.8)       55.6
TRINET GROUP INC  TN3 TH         2,347.8       (25.8)       55.6
TRINET GROUP INC  TN3 GR         2,347.8       (25.8)       55.6
TRINET GROUP INC  TNETEUR EU     2,347.8       (25.8)       55.6
UNILIFE CORP      4UL GR            86.4       (19.9)        2.4
UNILIFE CORP      4UL TH            86.4       (19.9)        2.4
UNILIFE CORP      UNIS US           86.4       (19.9)        2.4
UNISYS CORP       USY1 GR        2,348.7    (1,452.4)      319.6
UNISYS CORP       USY1 TH        2,348.7    (1,452.4)      319.6
UNISYS CORP       UISEUR EU      2,348.7    (1,452.4)      319.6
UNISYS CORP       UIS1 SW        2,348.7    (1,452.4)      319.6
UNISYS CORP       UIS US         2,348.7    (1,452.4)      319.6
UNISYS CORP       UISCHF EU      2,348.7    (1,452.4)      319.6
VENOCO INC        VQ US            756.5      (100.0)     (762.9)
VERISIGN INC      VRSN US        2,154.9      (883.5)     (429.9)
VERISIGN INC      VRS TH         2,154.9      (883.5)     (429.9)
VERISIGN INC      VRS GR         2,154.9      (883.5)     (429.9)
VERIZON TELEMATI  HUTC US          110.2      (101.6)     (113.8)
VIRGIN MOBILE-A   VM US            307.4      (244.2)     (138.3)
WEIGHT WATCHERS   WW6 QT         1,515.2    (1,384.3)       50.7
WEIGHT WATCHERS   WTWEUR EU      1,515.2    (1,384.3)       50.7
WEIGHT WATCHERS   WW6 GR         1,515.2    (1,384.3)       50.7
WEIGHT WATCHERS   WW6 TH         1,515.2    (1,384.3)       50.7
WEIGHT WATCHERS   WTW US         1,515.2    (1,384.3)       50.7
WEST CORP         WSTC US        3,818.1      (659.6)      369.8
WEST CORP         WT2 GR         3,818.1      (659.6)      369.8
WESTERN REFINING  WR2 GR           376.9       (27.1)       79.7
WESTERN REFINING  WNRL US          376.9       (27.1)       79.7
WESTMORELAND COA  WME GR         1,829.6      (349.4)      (13.1)
WESTMORELAND COA  WLB US         1,829.6      (349.4)      (13.1)
WESTMORELAND RES  2OR1 GR          204.0       (14.2)      (57.7)
WESTMORELAND RES  WMLP US          204.0       (14.2)      (57.7)
XERIUM TECHNOLOG  XRM US           594.0       (74.1)       97.7
XERIUM TECHNOLOG  TXRN GR          594.0       (74.1)       97.7
YRC WORLDWIDE IN  YEL1 TH        1,985.0      (474.3)      148.2
YRC WORLDWIDE IN  YEL1 GR        1,985.0      (474.3)      148.2
YRC WORLDWIDE IN  YRCW US        1,985.0      (474.3)      148.2


                            *********

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

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

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

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

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

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

                            *********

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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***